Amor has undertaken a transformational journey over the past six years, and I would like to thank 3i for its partnership. 3i’s international network has proved invaluable in establishing our brand across Europe. Marcus Hoffmann, CEO, Amor
ATESTEO is a German-based global leader in outsourced automotive testing, with a focus on testing drivetrains for electric and conventional propulsion systems in the lab and on the road. ATESTEO’s services ensure that the vehicles of their customers, including some of the world’s pre-eminent automotive manufacturers and suppliers, are safe, reliable and fit-for-purpose.
ATESTEO differentiates itself through testing technology, engineering expertise, flexibility, and economies of scale. We acquired a majority stake in ATESTEO in October 2013 and achieved a 4.4x return on exit in December 2017.
"The 3i team has been a huge support in helping us to advance our international expansion and expand our footprint into growth markets such as China.” Wolfgang Schmitz, CEO, ATESTEO
Business & Technology Services
Civica is a leading IT outsourcing group which significantly expanded its international presence and key product offering during our investment. Following our investment in 2008, through a public to private transaction, Civica continued its strong track record of organic growth in revenue and EBITDA, driven by a combination of sustained software sales from their market-leading product portfolio and the roll-out of cloud-based solutions in all markets. Further growth came from up-selling services to existing customers, including specialist outsourcing, such as its IT-enhanced BPO proposition.
“With 3i as a partner, we‘ve been able to strengthen the business as well as grow our footprint, both in the UK and internationally.” Simon Downing, CEO, Civica
Business & Technology Services
Element is a global network of laboratories with experts specialising in materials testing, product qualification testing and failure analysis for the Aerospace, Oil and Gas, Transportation and Industrial sectors. It transformed from a network of local, independent testing laboratories into a world class integrated testing business under our ownership.
The business was created as a carve-out from the Stork Group and rebranded as Element. Under our ownership it successfully delivered a buy-and-build growth strategy, enhanced sector testing capabilities, deepened customer relationships and expanded geographic coverage. Significant capital was invested to develop new testing technologies and support customer R&D programmes.
“I would like to thank 3i for their close support which has been critical to delivering the rapid and sustainable growth that we have achieved over the past five years.” Charles Noall, President and CEO, Element
GEKA is a leading manufacturer of innovative brush applicator and packaging systems for the beauty and health industries. It is also a pioneer in the innovation of plastic injection moulding for mascara brushes and mascara packaging and is a development partner of market leading international cosmetics groups, including Procter & Gamble and Avon.
We partnered with management to successfully deliver international expansion particularly into Asia and Latin America; opened a production facility in São Paolo; set up sales and sourcing offices in Shanghai and Hong Kong; and successfully expanded production capabilities in the US. In 2014 GEKA launched its Healthcare division, leveraging its precise applicator know-how in the pharmaceutical space.
“GEKA has enjoyed exciting growth over the past years, and I would like to thank 3i for its value-adding partnership. 3i’s international expertise and network have been important factors in our successful expansion into new markets” Amaury de Menthière, CEO, GEKA
Hilite is a global supplier of leading automotive solutions, and innovative engine and transmission products. Through our ownership, it transformed from an ambitious and growing automotive business to a truly global leader in innovative products for improving fuel efficiency.
Together with the Board, we developed Hilite's internationalisation strategy, introduced a Chairman with strong global sector knowledge and an extensive network. We brought in two NXDs, one with US experience and the other with a Chinese focus, to help develop the Asian market. We also established a state of the art manufacturing plant in China in order to drive Asian sales and helped the development of a ‘one international Hilite’ culture which improved operating efficiency through best practice sharing.
“3i has supported us through a vital phase in our development. We’re now a more focused company with global presence, particularly in China.” Karl Hammer, CEO, Hilite International
A global producer and supplier of hydraulic cylinders for hydraulic loading and unloading systems for commercial vehicles. During our ownership, Hyva transformed from a Dutch-based business to a global market leader and tripled its turnover.
This significant internationalisation included an acceleration of capex, with eight factories built in BRIC markets, and the development of manufacturing, R&D and sales/service infrastructure in Europe, Asia and the Americas.
“I would like to thank 3i for their continuous support for our successful entrepreneurial and global growth in transforming a European, Dutch-based business into a truly global player with a market leading position in all the countries in which we operate." Louwrens Dijkstra, CEO, Hyva
LHI Technology is a manufacturer of medical cables with offices in China, Singapore, the US, and Germany. The company’s complex products are used in challenging environments to provide real time information for patients; only a handful of players globally have this capability
During our ownership, the company evolved from a business focused predominantly on blood oxygen monitoring into one offering more technically demanding and higher performance products, including ECG and ultrasound cables and cables for surgical and video endoscopy applications, including ultrasound.
Working with management, we implemented several operational improvements, including increasing the company’s technical capabilities and optimising key costs.
“3i’s comprehensive knowledge and network in the healthcare industry gave LHi an increased scope and expansion possibilities that we never had before." Jay Pok, Founder, LHi Technology
Mayborn is a leading manufacturer and distributor of baby and child products under the Tommee Tippee brand. Under our ownership it transformed from a UK consumer products business to the fifth largest baby accessories business globally.
During our investment Tommee Tippee was elevated to Master Brand status across all product lines, as a result of its brand equity and consumer recognition. Mayborn entered the US directly, developing its brand presence with an exclusive launch in Babies R’ Us and subsequently also selling through Target and Wal-Mart. After five years, US revenues grew to over $40m. A direct sales model was followed in Mayborn’s core growth markets, which included the acquisition of its French distributor and the establishment of a direct Australian model in 2012.
“Mayborn has undertaken a transformational journey over the past 10 years, and I would like to thank 3i for its partnership. 3i’s international mindset has been an important factor in our successful expansion into new markets.” Steve Parkin, CEO, Mayborn
World leading manufacturer of plastics melt delivery and control systems with manufacturing facilities in Canada, China, India, Brazil and Germany. Under our ownership, Mold Masters transformed from a family-owned business to a world class global market leader in hot runners.
Mold Masters' international sales increased by 60% during our ownership through both organic sales growth and completing four selective acquisitions. The increased focus on the emerging markets took the business from having only limited basic production in China and Brazil on entering, to significant presence on exit including 40% of sales being generated from Asia.
“With 3i’s support, we have strengthened our global footprint in emerging markets and commercialised new innovative products.” William Barker, CEO, Mold-Masters
NORMA Group a global market and technology leader in the attractive niche market of engineered joining technology. During our ownership it evolved from a successful family business into an undisputed international leading manufacturer of clamping and connecting technology.
We formed NORMA Group by investing in Rasmussen, a leading supplier for joining technology, and merging it with ABA. Over a five year period, NORMA transformed in to a global market leader through accelerated organic growth, strategic acquisitions and margin expansion. Revenue doubled between 2005 and 2010, representing a 15% CAGR, and sales outside Germany increased by 80% over this period, from 41% to 74%.
“3i is proud to have contributed to the success of NORMA which has grown from a regional German player to an undisputed international leader.” Ulf von Haacke, Managing Director, 3i Germany
Quintiles delivered transformational growth to become the world’s largest provider of life sciences product development and integrated healthcare services. It helps biopharmaceutical customers, as well as other healthcare customers, navigate the increasingly complex healthcare environment to improve efficiency and deliver better healthcare outcomes.
During our ownership, Quintiles expanded its commercial services into the Middle East, North Africa and East Africa, and developed numerous clinical development and joint venture partnerships. The business also expanded its Real-World & Late Phase offering through acquisitions and strategic partnerships. Quintiles has an extensive reach and has helped develop or commercialise most of the top biopharmaceutical and biologic products on the market today.
In November 2017, post 3i’s exit, Quintiles adopted the name of IQVIA
“We are proud to have supported the business and its management team during this period of transformational growth and would like to thank them for their partnership over the years.” Richard Relyea, Partner, 3i North America
We initially acquired a minority stake in Refresco in 2010 to help support the Company’s continued growth and buy-and-build strategy. During our ownership, Refresco transformed from a European juice manufacturer to a leading European independent bottler of soft drinks for A-brand owners.
Refresco’s merger with Gerber Emig in 2013 was a transformational value driver, enhancing the company’s presence across Europe and strengthening its capability for industry innovation. In addition, Refresco acquired German-headquartered SDI, Spumador in Italy and Taja in Poland, taking its production facilities to 27 across nine countries with a total of 159 production lines and a truly pan-European footprint.
“The successful listing of Refresco on the Euronext Amsterdam represents a significant milestone for the Company following our expansion from a local juice manufacturer to the leading European independent bottler of soft drinks for retailers and A-brand owners.” Hans Roelofs, CEO, Refresco
Scandlines is a market leading European ferry operator between Denmark and Germany connecting Scandinavia with Continental Europe. The company was established in 1998 by a merger of the largest national ferry companies in Denmark and Germany and operates high frequency, short distance ferry operations for both passenger and freight customers. Scandlines’ traffic machine is fully integrated with the road infrastructure, providing a critical transport link between Denmark and Germany.
Scandlines’ eight ferries specialise in rapid, reliable and comfortable transportation, with more than 42,000 departures annually. Its activities also include catering services, together with retail sales of goods in on-board and on-shore shops and restaurants. We initially acquired a 40% stake in Scandlines in 2007, bought a further 10% stake from Deutsche Seerederei in 2010 and acquired the remaining 50% from Allianz Capital Partners in November 2013. We sold our investment in Scandlines in March 2018 for a total equity value of €1.7bn, achieving 7.0x Money Multiple on exit.
"I have enjoyed working with 3i to transform the company and develop its growth potential, and I am looking forward to working with the new consortium. Scandlines is a fantastic company with dedicated employees; we will all benefit from this long-term investment." Søren Poulsgaard Jensen, CEO, Scandlines
Business & Technology Services
SLR is a leading international environmental consultancy with an unrivalled reputation for providing expert, tailored services with more than 75 offices across Europe, North America, Asia Pacific and Africa. SLR specialises in delivering Global environmental and advisory solutions for Oil & Gas, Built Environment, Mining & Minerals, Infrastructure, Industry and Power sector clients.
SLR is one of a very small number of truly international specialists providing advice and support on a wide range of strategic and site-specific issues, to a diverse and growing base of corporate, regulatory and governmental clients.
TouchTunes is the largest in-venue interactive music and entertainment platform, featured in over 71,000 bars and restaurants across North America and Europe.
We invested in TouchTunes in 2011 to support the Company’s growth strategy and international expansion, as well as help bolster its product and service offering. During our investment period TouchTunes increased its network of digital jukeboxes by nearly 50% and developed several ancillary revenue streams. This impressive growth was achieved organically in North America and through the entry into the UK market.
"We have enjoyed tremendous success together over the last four years. Our association with 3i has helped propel TouchTunes into the global arena and I am thankful for their network and support, which has played a big role in our expansion efforts." Charles Goldstuck, Chairman and CEO, TouchTunes