Médisup Sciences Group acquires a majority stake in Take the Wind. Combined group creates leading global medical education and simulation provider.
The holding company of Médisup Sciences (“Médisup”), a leading French medical education company, is pleased to announce the acquisition of a majority stake in Take The Wind S.A (TTW).
Take The Wind is a Portuguese specialist technology leader in the virtual medical simulation market, serving medical, nursing, community colleges and high schools, scientific societies, hospitals, and pharmaceutical companies globally. The Company operates primarily under the Body Interact brand, which simulates real world scenarios with virtual patients via 700+ clinical cases, dynamically integrating multiple internal and external drivers of patients’ health conditions. The product is available in eight languages, and currently serves over 180,000 users in over 50countries.
Take the Wind was founded in 2008 by Teresa and Pedro Pinto, who will both retain a significant stake in the Company and will continue to lead its management team.
Arnaud Dreyfuss, founder and CEO of Médisup said, “We are delighted to partner with the Take the Wind team in the next phase of the business’s growth. Body Interact is the best-in-class operator providing exceptional levels of education that enables medical students and professionals to dramatically improve their clinical abilities in a cost-efficient way.”
Teresa Pinto, co-founder and COO of TTW added, “We are very excited to collaborate with Médisup, and foresee a strong cultural fit given the similar founder-led mentality. We express our profound gratitude to the whole TTW team, including its business partners and customers, for being part of the development of a game-changer product and a global company, which will consolidate its industry leadership and continue its high innovative performance in this new stage.”
As with Take The Wind, Médisup continues to be founder-led, following its 2021 sale of a majority stake to StirlingSquare Capital Partners, a leading pan-European mid-market private equity firm.
Byggfakta Group today announces the completion of the acquisition of 100 percent of BCI Media Group, a leading B2Binformation provider for the construction industry in Australia, New Zealand, Asia and the US.
BCI is providing critical intelligence on current and prospective construction projects essential in lead and sales generation for its clients. With the acquisition of BCI, Byggfakta Group further expands its project information business footprint internationally.
BCI had approximately AUD 40 million(corresponding to approximately SEK 256 million) of revenue in the financial year 2020/21 and approximately 730 employees distributed across the regions Australia, US and Asia.
StirlingSquare Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, is proud to announce that Byggfakta Group Nordic HoldCo AB (publ) (“Byggfakta Group” or the “Company”), a leading market intelligence and sales enablement platform for the European construction industry, was listed on the Nasdaq Stockholm today, marking the next step of a journey which started with Stirling Square Capital Partners in 2017. The offering attracted very strong interest from investors and was multiple times oversubscribed.
Headquartered in Ljusdal (Sweden), Byggfakta Group, is a digital platform providing solutions connecting construction value-chain participants, maximising sales and improving efficiency for its customers. The Company’s core offering lies across four product segments, targeting different stakeholders in the construction value chain, namely (i) Project Information – a business intelligence sales leads platform; (ii) Specification – specification software digitising the specification writing process; (iii) Product Information – an online platform for suppliers to showcase their products online, and providing buyers a comprehensive catalogue of curated construction products; and (iv)e-Tendering – eSourcing and eProcurement software.
The Company was created in 2020 under Stirling Square’s ownership in partnership with TA Associates, a leading global growth private equity firm, following the initial acquisition of DOCU Nordic by Stirling Square’s Third Fund and the subsequent investment by Stirling Square’s Fourth Fund. Byggfakta is the result of the successful combination of DOCU Nordic with Vortal, Olmero, National Building Specification, and Glenigan.
Stefan Lindqvist, CEO for Byggfakta Group, comments:
”Today marks an important day in Byggfakta Group’s history. We are tremendously thankful for all of our employees who have contributed to the expansion of Byggfakta to be come a leader in the construction technology market. We welcome the new shareholders who join us today as we list on Nasdaq Stockholm, a milestone which further improves the conditions for our continued expansion and strengthens Byggfakta Group’s market position.”
Henrik Lif, Investment Committee Member at Stirling SquareCapital Partners and Chairman of the board of Byggfakta Group, comments:
“We are very proud of the past years’ performance, where Stefan and the team have achieved strong growth and built a fantastic company with a leading tech platform to serve the construction industry. The strong interest in the offering from both private and professional investors is a testament to the market’s trust in management and our continued growth strategy. Stirling Square Capital Partners are excited to continue this journey together with the Company and our new shareholders.”
A link to the official IPO press release can be found here: https://byggfaktagroup.com/mfn_news_en/first-day-of-trading-in-byggfakta-groups-shares-on-nasdaq-stockholm/
A €450m Sustainability-Linked Bond launched by Itelyum has successfully closed.
The €450m bond issue represents an innovation in the field of sustainability-linked bonds due to its novel step-up features. The bond received strong interest, with the book being oversubscribed multiple times, aided by its ESG features that attracted a number of socially responsible investors.
The bond was priced with a 4.625%coupon and has a 5 year maturity. The proceeds will be used to finance the buyout of the Itelyum Group (the “Transaction”), that completed yesterday, as well as its ambitious domestic and international growth strategy.
Stirling Square Capital Partners, a leading London-based mid-market private equity investor, today announces two key hires to augment its internal capabilities.
Toni Gillespie – Chief of Talent: Toni joins the firm as Chief of Talent after a long career in HR at UBS, Credit Suisse, Bridgepoint, and most recently AMP Capital. She will be responsible for recruiting, fostering and developing human capital within the firm. Stirling Square is committed to best practices in meritocracy, diversity, inclusion and compensation. The Chief of Talent will also play an essential role in supporting Stirling Square portfolio companies’ strive for excellence in leadership management, as the firm drives ambitious change across its investments.
Elisabetta Ricci – Chief of Staff: Elisabetta joins Stirling Square following a successful career at Goldman Sachs, TowerBrook, and CDPQ. She will be focusing on driving improvements in Stirling Square’s internal capabilities and operations, managing special projects and future-proofing initiatives. Elisabetta’s multi-faceted understanding of the private equity industry will give her a unique perspective on opportunities to further develop Stirling Square’s investment franchise.
Both will be based in London.
Stefano Bonfiglio, Managing Partner and Co-founder of Stirling Square said: “I am delighted to welcome Toni and Elisabetta to Stirling Square. They join at an important moment in our evolution and growth and their experience and capabilities will have an immediate impact on our firm and its portfolio companies. They will work alongside senior leaders recruited in the past two years to enhance our internal capabilities in both ESG and Digitalization.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces its further commitment to Itelyum Group (“Itelyum” or the “Company”) in partnership with Deutsche Beteiligungs AG (“DBAG”), a leading publicly listed mid-market private equity firm. Stirling Square’s Fourth Fund and its co-investors will acquire a majority stake and DBAG’s Fund VII will acquire a minority stake in Itelyum from Stirling Square’s Third Fund (the “Transaction”). The management team of the Company will also make a significant investment in the Transaction.
Established in1963, Itelyum is a leading European Circular Economy player, specialised in recycling complex streams of hazardous liquid waste, leveraging distinctive chemical competences. Itelyum operates 25 plants, employs over 800 people, and is a technology and market leader in most of the niches in which it operates: waste oil regeneration, solvent purification, and industrial waste management and recycling. With its one-stop-shop approach and solid processes and procedures, the Company targets industrial companies which need to comply with increasingly strict waste regulations and reach higher recycling rates.
Under Stirling Square’s stewardship, Itelyum has evolved from a local, family-owned company into a professionally managed European leader with multiple product lines across diversified streams of hazardous waste. The Company has a virtuous environmental footprint, as its activity results in 500 kilotons fewer CO2emissions, 1,000 tons fewer air pollutants, 15 million cubic meters of water savings and 400 hectares less of land consumption, per year.
Enrico Biale, Partner of Stirling Square, commented: “Itelyum is a champion of sustainability and a reference for the circular economy in Europe. Stirling Square has the opportunity to continue to participate in Itelyum’s value build-up by capitalising on the Company’s market leadership, strong technical expertise, and a significant acquisition pipeline. We are excited to partner with DBAG for this next phase of international growth and delighted to continue the journey with Marco Codognola and his team.”
Tom Alzin, member of DBAG’s Board of Management, said: “We are investing in a company in our core sector of industrial services, whose business is particularly forward-looking. We are happy to use our expertise to support inorganic growth and assist Stirling Square in developing Itelyum’s European presence, with future acquisitions in Germany.”
Marco Codognola, CEO of Itelyum, added: “Since our association with Stirling Square we have kept growing both organically and through the integration of a number of business acquisitions. These have allowed Itelyum to further its know-how and footprint, and ultimately to consolidate an innovative business model that meets and often anticipates our customers’ need for sustainable services. I am proud to be leading this successful team of managers and employees that have proven their ability to deliver outstanding results for its shareholders and society at large.”
The Transaction, which is expected to close in October 2021, represents the eighth platform investment by Stirling Square’s Fourth Fund.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, announces today the acquisition of Sustainable Agro Solutions (“SAS” or “the Company”), in a primary transaction.
Founded in 1989, SAS has established itself as a leading developer and producer of biostimulants, soil and water improvers, defence activators, and specialty plant nutrition solutions for the agricultural sector. Headquartered in Lleida (Spain), the Company is present in 90 countries across Latin America, Europe, Africa and Asia.
Sustainability is at SAS’s core. This is evidenced from both the product offering, which is respectful of the environment, and allows farmers to maximise yields while minimizing soil depletion, water consumption and pesticide use, and the production processes as SAS sources c.20% of its energy needs from photovoltaic panels installed on its facility. Additionally, SAS is carrying out projects at its facilities to optimize and achieve waste reduction and the development of circular economy products.
Enrico Biale of Stirling Square commented: “SAS is an outstanding platform which represents Stirling Square’s first transaction in Spain. We are very excited about the growth opportunities that will allow SAS to consolidate its prime position in the fragmented biostimulants market, organically and through international M&A. Eduard and his team have strong conviction on the sustainability of their product range, which aligns with Stirling Square’s strong ESG footprint.”
Eduard Vallverdú, CEO of SAS added: “We are delighted to welcome Stirling Square as partners. There is a great affinity between SAS and Stirling Square in terms of philosophy and vision that makes us ideal partners for our project and future strategy in such a dynamic sector. Stirling Square brings deep global networks and growth expertise that will allow SAS to incorporate new resources and competencies into this project and further reinforce its leading position in terms of sustainability, products, technology and global presence.”
The transaction represents the sixth platform investment in Stirling Square’s Fourth Fund.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has sold Vision Ophthalmology Group (“VOG”) to AddLife AB, a listed Medical Technology company headquartered in Sweden focused on the distribution of healthcare products.
VOG is a leading independent European distributor of high-quality solutions for ophthalmic surgery, providing products and services related to eye surgeries such as cataract and glaucoma treatments.
The transaction represents Stirling Square’s Third Fund’s third realisation to date.
Following the successful acquisition of DOCU Nordic, Vortal and Olmero by Stirling Square’s Fourth Fund in 2020, Stirling Square is pleased to announce the additional acquisitions of National Building Specification (“NBS”) and Glenigan. Together with the previously acquired businesses, the combined platform is now known as the Byggfakta Group.
The recent acquisitions of NBS and Glenigan further enhance the Byggfakta Group’s integrated approach to capturing and publicising valuable information for its clients from the earliest stages of ideation, through to design and specification, tendering and procurement. This ability to maintain customer engagement through the full value chain creates a unique value proposition for customers that is unrivalled globally.
With significant operations across Scandinavia, the United Kingdom, Iberia, DACH and Central & Eastern Europe, the integrated Byggfakta Group represents a leading construction technology and construction management ecosystem in Europe.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, is pleased to announce the acquisition of Consensus.
Consensus is a leading provider of specialist residential care and supported living services in the UK. The company provides care to nearly 600 individuals with learning disabilities, Autism Spectrum Disorder, Prader-Willi Syndrome, and other complex needs. Its offerings include residential services, supporting adults requiring 24-hour care and living within Consensus’ residential communities, and supported living services, providing flexible care to individuals living independently.
Jonathan Heathcote of Stirling Square said: “We are delighted to partner with the Consensus team in the next phase of the businesses growth. Consensus is a key player in the industry with leading quality ratings. Most importantly, it is a best-in-class operator providing exceptional levels of care and quality of life to the individuals and families it serves.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announced an additional investment in portfolio company DOCU Nordic Group Holdings AB (“DOCU Nordic” or the “Company”) in partnership with TA Associates, a leading global growth private equity firm. TA Associates will acquire a significant minority stake in the Company from Stirling Square’s Third Fund alongside Stirling Square’s Fourth Fund, which becomes the majority shareholder in DOCU Nordic.
Headquartered in Ljusdal, Sweden, DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.
During Stirling Square’s Third Fund’s ownership, DOCU Nordic substantially developed its product offerings and capabilities while expanding its geographic reach. The Company recently announced the acquisition of Vortal in Portugal, which will add strategic e-tendering capabilities and a presence in Iberia. The new investment is the latest step in DOCU Nordic’s aim to create the leading construction technology and construction management eco-system in Europe, with significant opportunity for future buy-and-build activity.
Henrik Lif, Partner of Stirling Square, commented: “We believe that DOCU Nordic is an outstanding business that provides business critical and high-value services to a broad customer base. We are delighted to continue our investment journey with the Company in partnership with TA Associates. DOCU Nordic has demonstrated industry leading innovation in the construction, real estate and healthcare sectors. With the recent acquisition of Vortal in Portugal, the Company takes a further step geographically with the leading public e-tendering platform in Southern Europe. We look forward to continuing our work with senior management on organic growth and buy-and-build opportunities across Europe.”
Naveen Wadhera, Managing Director of TA Associates, said: “Given our focus on partnering with market leading, profitable and growing businesses, DOCU Nordic offers a compelling investment opportunity for TA. We see particular opportunity to help accelerate the Company’s growth and to expand both product offerings and geographic reach through accretive acquisitions. We are excited to partner with Stirling Square and DOCU Nordic’s management team to help build additional value for the Company.”
Stefan Lindqvist, CEO of DOCU Nordic, added: “We are delighted to have the opportunity to further build on the past three years of partnership with Stirling Square, and we welcome TA Associates, an experienced global investor in the technology sector, as a new partner. We look forward to working closely with both owners as we open a new chapter in DOCU Nordic’s success story.”
Mr. Henrik Lif, Mr. Ben Hopper and Mr Raphael Mukomilow of Stirling Square and Mr. Naveen Wadhera and Mr. Max Cancre of TA Associates will serve on the DOCU Nordic Board of Directors.
Stirling Square Capital Partners ("Stirling Square"), a leading pan-European mid-market private equity firm, is pleased to announce the appointment of Emin Aleskerov and Ahmed Khamassi to its newly-established Innovation and Sustainability team.
Emin began his investing career with Stirling Square, where he was a member of the investment team from 2005 to 2010. He re-joins Stirling Square as Head of Innovation and Sustainability after having worked as an independent consultant and investor in the meantime. He previously held roles at Credit Suisse First Boston, Siemens, and Dicke & Associates Management Consultants. Emin holds an MBA from The Wharton School and a Diplom-Ingenieur in Informatics from the University of Siegen, Germany.
Ahmed joins Stirling Square as Head of Data Science from Equinor, where he led transformation through machine learning and data science technology. Prior to that he worked in the Data Science divisions of Wipro Digital and JP Morgan. Ahmed holds a PhD in Mechanical Engineering from Queen's University Belfast and an MSc in Mechanical Engineering from Ecole Nationale d'Ingénieurs de Tunis, Tunisia.
The firm's newly established Innovation and Sustainability team is charged with enabling Stirling Square and its portfolio companies to achieve their full potential through the power of data and technology, while also ensuring they are at the forefront of sustainability issues.
Stefano Bonfiglio, Stirling Square's Managing Partner, commented: "We are proud to announce the appointment of Emin and Ahmed to Stirling Square's Innovation and Sustainability team. The team will drive digitization within Stirling Square, contribute to equity value creation in our portfolio companies, and participate in the evaluation of new investment opportunities. Importantly, their mandate also includes a focus on sustainability, which is an increasingly fundamental theme in the investing landscape and reflects our dedication to the issues at hand. We are excited to launch such an important new initiative at Stirling Square."
Stirling Square Capital Partners, a leading pan-European mid-market private equity firm, is pleased to announce the appointments of Manuel Gari and Andreas Theilgaard to the investment team. Their additions strengthen the firm’s capabilities, particularly in Iberia and the Nordic region.
Prior to joining Stirling Square, Manuel worked at Goldman Sachs and focused on the TMT, Consumer & Retail and Healthcare sectors. Manuel holds an MBA from The Wharton School and a BSc in Business Administration and Management from ESADE Business School. He is a Spanish national and speaks Spanish, French and English.
Andreas joins Stirling Square from The Carlyle Group where he worked within their International Energy Partners strategy. Prior to that, he was at Gunvor Group and at Rothschild & Co, focused on Mergers & Acquisitions. Andreas holds a BSc in Management from the University of Warwick. He is a Danish national and speaks Danish, Swedish, Norwegian and English.
The addition of Manuel and Andreas brings Stirling Square’s investment team to 20 professionals, representing 12 nationalities and speaking 13 languages.
Stefano Bonfiglio, Stirling Square’s Managing Partner, commented: “We are delighted to announce the appointment of both Manuel and Andreas to the team, focusing on Iberia and the Nordic region. We look forward to their contributions as we continue to invest Stirling Square’s recently closed Fourth Fund.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of Assistansbolaget Försäkring Sverige AB (“Assistansbolaget” or “the Company”).
Assistansbolaget is the leading B2C Roadside Assistance (“RSA”) provider in Sweden. The company contracts directly with over 350,000 customers in an annual subscription-fee model to provide drivers with RSA services across Europe. It is the technology- and data-driven innovator operating in a stable and mature industry.
Since its founding in 2015, Assistansbolaget has established itself as the clear market leader in the B2C RSA segment in Sweden. Its unique capabilities include a single integrated digital platform, fully automated claims handling, an asset-light operating model, and a lean entrepreneurial organisation.
Henrik Lif of Stirling Square commented: “We are delighted to partner with the Assistansbolaget team. Since the business’ founding in 2015, they have demonstrated their ability to disrupt an entrenched and slow-moving industry with new and innovative ways of working. We look forward to ushering the business into its next chapter.”
Lukas Fryklund, founder and CEO of Assistansbolaget added: “Partnering with Stirling Square is a key milestone for the company. Their investment is recognition of the success we have achieved to date. I look forward to working with the Stirling Square team as we continue to innovate our products, services and technological solutions to drive the industry forward.”
The transaction represents the third platform investment in Stirling Square’s Fourth Fund.
Stirling Square Capital Partners (“Stirling Square”), is pleased to announce the successful final close of its Fourth Fund (the “Fund”) with €950 million in total commitments raised. The Fund exceeded Stirling Square’s target and represents a nearly 60% increase in size over the firm’s Third Fund.
The Fund received robust support from the firm’s existing investor base and attracted significant commitments from notable new global investors. At final close approximately 60% of commitments were from Europe, 35% from North America, and 5% from the Asia Pacific region.
The Fund will continue to execute the strategy developed by Stirling Square’s earlier funds for the European middle market, and pursue value-oriented transactions with a clear focus on business transformation. It has already made two acquisitions to date: in February 2019 the Fund acquired Verescence, a France-headquartered global leader in glass packaging for the perfumery and cosmetics industries; in June 2019 it acquired Logent, a provider of customised logistics solutions in the Nordics.
The final close of the Fund follows an active period of realisations for Stirling Square; the firm exited two investments in the fourth quarter of 2019, including Cartonplast from its Second Fund and Siblu Villages from its Third Fund.
Stefano Bonfiglio, co-founder and Managing Partner of Stirling Square, commented: “Our track record and expertise have developed over 25 platform investments and 22 transformational add-on acquisitions completed across 13 countries since 2002. Today Stirling Square is the leading private equity firm offering truly pan-European access to the lower end of the middle market. The Fund’s increased size will allow us to more effectively target the vast opportunity set that exists in our space. With an investment team of 20 investment professionals representing 11 European nationalities and commanding 12 European languages, we are uniquely positioned to enable our business partners to achieve their true potential across borders.”
Gregorio Napoleone, co-founder of Stirling Square and Management Committee member, added: “The successful raise of the Fund stems from our continued investment in the firm’s talent, strategic architecture and market relationships. We are proud to represent such a valuable group of stakeholders. Our significant team commitment to the Fund is evidence of our dedication to the strategy and our belief in the significant opportunities ahead. We look forward to the continued success of our team, and to strengthening our relationships with each of our partners over the course of the Fourth Fund and beyond.”
Stirling Square was advised by placement adviser Rede Partners LLP and law firm Clifford Chance LLP.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has sold Siblu Villages (“Siblu” or “the Company”) to Naxicap Partners (“Naxicap”).
Siblu is the undisputed market leader in owner-occupied holiday villages in France. It operates 22 holiday villages across France and the Netherlands comprising c.11,700 pitches. Over the course of its 4-year ownership, Stirling Square substantially expanded Siblu’s operating footprint in France through five park acquisitions and five land acquisitions, and entered the Dutch market with two park acquisitions. Overall, pitch capacity grew by 45% while pitch yield management was substantially improved across all parks. Since its acquisition in August 2015, Siblu’s EBITDA has nearly doubled from €20m at entry to €39m at exit.
Julien Horreard of Stirling Square said: “It has been a true pleasure to work with CEO Simon Crabbe and his team. Today Siblu is the undisputed market leader in France, with a clearly defined pathway of future growth and consolidation in France and the Netherlands. We are delighted with the transformation we have achieved alongside the management team over the past four years, and wish them the very best in their next chapter with Naxicap.”
The transaction has been approved by the relevant workers’ council of Siblu and is still subject to competition and other regulatory approvals. It is expected to close in October.
Stirling Square was advised by Harris Williams & Co (financial) and Kirkland & Ellis (legal).
Stirling Square Capital Partners ("Stirling Square"), the pan-European private equity firm, today announces that it has signed an agreement to sell CPL Holdings GmbH ("Cartonplast" or the "Company"), the operator of sustainable pools of returnable transport packaging materials ("RTP"), to Deutsche Beteiligungs AG ("DBAG") (XETRA: DBAN), the listed private equity investor focused on mid-sized companies in German-speaking countries, and DBAG-advised DBAG Fund VII. Closing of the transaction is subject to regulatory approvals.
Stirling Square created the Company in 2013 with a simultaneous double buy-out of private equity-owned Cartonplast Group GmbH and family-owned Trading Cartonplast Iberica SA. Since then, Stirling Square has worked closely with management to achieve seamless integration, efficient and effective partnerships with clients, as well as organic and external expansion. Cartonplast is currently on track to deliver 4-year compounded growth rates of 6% in RTP rentals and 8% in operating profit in its otherwise stable, resilient sector.
Headquartered in Dietzenbach (Germany), Cartonplast operates a pool of c. 45 million RTP units that are rented as interlayers in the palletised transport of bottles and cans for the beverage, food and cosmetics industries. The Company provides just-in-time logistics service across a vast network straddling 130 client delivery sites in 20 countries and 7500 filler collection sites in 30 countries. It uses only hygienically serviced, reusable plastic materials, promotes the substitution of cardboard with recyclable RTP, and contributes to better industry-wide sustainability.
Under Stirling Square's stewardship, the management team was expanded and empowered, substantial pool investments were made to support growth in existing and new markets, and strategic acquisitions were consummated in Brazil, France and Germany. Cartonplast is currently rolling out new services in plastic pallets in Europe and in plastic layer pads in Brazil.
Gregorio Napoleone, co-founder of Stirling Square, said: "We are very pleased with Cartonplast's achievements under the leadership of Serkan Koray, and are proud of having assisted his management team through pervasive transformation. Cartonplast's business model is unique and has tremendous growth potential across geographic boundaries, end-user industries and RTP segments. The Company is well structured to seize future opportunities."
Serkan Koray, CEO of Cartonplast, said: "Stirling Square has been critical in helping us grow as a business and as a team, at a time when we aimed to consolidate customers' loyalty and international mega trends continued to validate our business model. We are ready for our next phase of expansion and look forward to working with DBAG on capitalising upon our momentum."
The NFA Group, a portfolio company of Stirling Square Capital Partners (“Stirling Square”), today announces the acquisition of Outcomes First Group (“Outcomes First”).
The NFA Group is a leading provider of specialist childcare services in the United Kingdom. In 2016, the National Fostering Agency completed the acquisition of Acorn Care and Education Limited, adding special educational needs (“SEN”) schooling to its range of services and creating the NFA Group. Today, the NFA Group is pleased to build on that success with the acquisition of Outcomes First.
Outcomes First is recognised as a high-quality provider of education and care services to young people and adults with autism, learning disabilities and other complex educational and care needs. It will add 13 schools across the United Kingdom to the NFA Group’s existing 21 schools.
The acquisition complements the NFA Group’s existing capabilities and geographic reach in the SEN space, enabling the combined group to better serve the needs of vulnerable young people and looked after children and substantially improve their life chances. The combined group will care for and educate nearly 6,500 children, young people and adults across the United Kingdom.
David Leatherbarrow, CEO of the NFA Group stated: “I am delighted to complete the acquisition of Outcomes First and welcome them into the NFA Group family. This acquisition will enhance the NFA Group’s ability to provide an integrated pathway of care supporting children, young people and adults across fostering, education and residential care. It reaffirms and expands our commitment to building incredible futures for vulnerable young people in the United Kingdom.”
Jonathan Heathcote of Stirling Square added: “I am very pleased to welcome Outcomes First to the NFA Group family. The combination of the two businesses creates a leading childcare services group in the United Kingdom providing the highest quality outcomes for the children in its care.”
Stirling Square was advised by Jefferies International Limited (M&A) and Dickson Minto (legal).
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has signed an agreement to acquire Logent Holding AB (“Logent” or “the company”). The transaction is expected to close in June.
Logent is the leading independent provider of customised contract logistics solutions in Sweden and Norway. With deep operational capabilities across the full logistics outsourcing value-chain, its services include Warehousing, Transport Management, Ports Operations, Customs Handling and Staffing & Recruitment.
Logent’s unique business model is rooted in a consultative approach, designing, implementing and operating dedicated solutions for customers that require substantial updates to their logistics operations. Its customers include small and medium-sized enterprises in the e-commerce, automotive and industrial sectors.
Henrik Lif of Stirling Square said: “Logent is truly the best-in-class operator in the Nordics. We look forward to partnering with CEO Mats Steen and the Logent team to capture the tremendous opportunity before them.”
Mats Steen, CEO of Logent added: “We are delighted to welcome our new shareholder to Logent. In partnership with Stirling Square, we look forward to expanding our breadth of services and solutions to reach new customer segments requiring increasingly sophisticated solutions to handle rising volumes and complexity.”
The transaction represents the second platform investment in Stirling Square’s Fourth Fund.
Stirling Square Capital Partners ("Stirling Square"), a leading pan-European mid-market private equity firm, is pleased to announce the appointment of Amélie Mazurier and Adriaan Bloys van Treslong to the investment team. Their addition compliments and strengthens the firm’s execution capabilities across the pan-European landscape.
Amélie was previously at J.P. Morgan, where she worked in the Investment Banking division focused on Mergers & Acquisitions within the Consumer & Retail team. She holds an MSc in Finance from ESADE Business School and an MSc in Management from HEC Lusanne. She is a French national from Switzerland and speaks fluent French and English.
Adriaan joined Stirling Square from Hannam Investments. Prior to that, he was in the Investment Banking division at J.P. Morgan focused on Mergers & Acquisitions within the Natural Resources team. Adriaan holds an MBA from INSEAD, and both an MSc and BSc in Financial Economics from Erasmus Universiteit Rotterdam. He is a Dutch and German national and speaks fluent Dutch, German and English.
Stefano Bonfiglio, Stirling Square’s Managing Partner, commented: “We are delighted to welcome Amélie and Adriaan to the team. Both individuals have demonstrated academic and professional excellence and possess the international perspective that exemplifies Stirling Square. Together they bring our investing team to a total of 16 investment professionals, representing 9 nationalities and speaking 12 languages. Their addition strategically expands our investing capabilities as we deploy our Fourth Fund.”
We are pleased to announce the rebranding of the Viscolube group of companies to “Itelyum”.
Since the Third Fund’s acquisition of Viscolube in 2016, Stirling Square has transformed the business from a niche regenerator of used motor oil into Italy’s premier platform for industrial waste recycling and integrated environmental services. Since 2016 the company has expanded its capabilities through the roll-up of hazardous waste processing businesses across Northern Italy and the transformational acquisition of Bitolea, Italy’s leading player in the purification of used solvents from the pharmaceutical industry.
Today the business is a true champion of the circular economy with 80% circular turnover across 15 sites, providing regeneration, purification and environmental solutions to a number of clients in the lubricant, pharmaceutical and industrial sectors.
CEO Antonio Lazzarinetti stated: “Today, we present much more than a new brand. With Itelyum we have created a platform dedicated to providing sustainable solutions for the planet while creating value for our people, our customers and our stakeholders.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of Verescence (“Verescence” or the “Company”).
Headquartered in Paris, France Verescence is the global leader in glass packaging for the Perfumery and Cosmetics industries. It commands 30% of the €1bn Perfumery market and 40% of the premium Perfumery segment. With over 120 years of history, Verescence serves as a key partner to the beauty industry’s most well-known brands. The business employs 2,300 workers in three glass plants and four decoration facilities across France, Spain and North America. In 2018 Verescence generated revenues over €300m.
Julien Horreard of Stirling Square said: “Verescence is the genuine best-in-class player in its field, acting as a critical supplier to the world’s most prestigious brands. It is a true innovator in its category, expanding the design and technical boundaries of what can be achieved. We are delighted to partner with CEO Thomas Riou and his highly accomplished team to continue the Company’s journey towards operational excellence.”
Stirling Square congratulates portfolio company Mettis Aerospace (“Mettis”) on its award as the British Private Equity & Venture Capital Association’s “Mid-market Management Team of the Year”. The award is part of an annual showcase by the BVCA for the UK’s best businesses backed by private equity and venture capital.
Founded in 1939, Mettis is a global leader in precision forged and machined components for the aerospace sector. The company offers a fully integrated platform of capabilities from initial design and development through to forging, machining, assembly and testing. It is a direct supplier to a global customer base including Airbus, Boeing and Rolls-Royce, providing components for a full range of next-generation programs.
Mettis is led by CEO Gordon Fraser. Since Stirling Square’s acquisition in 2016 and under Gordon’s leadership the business has grown top line revenue by nearly 40%, profitability by over 60% and launched a £30m investment programme in state-of-the-art equipment and laboratories.
Jonathan Heathcote of Stirling Square said: “I am delighted to see Gordon and his team recognised for their passion and commitment to transforming Mettis into the premier precision forging and machining business in the UK. Gordon has shown tremendous leadership over the course of our partnership. Their award is well-deserved.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of Vernet SAS and Magnum Corporation (together “Vernet” or the “Company”).
Founded in 1927, Vernet is the global leader in the design and manufacturing of fluid thermostatic regulation components primarily for the Sanitary, Heating/Ventilation/Air Conditioning, Automotive and Industrials end-markets. With more than €145 m of sales worldwide, it serves as the innovation and solutions leader for an established customer base of international OEMs, and maintains significant market shares across each of its core products. The Company is headquartered in Ollainville, France and employs c. 870 people across five manufacturing facilities in France, the United States, China and Argentina.
Julien Horreard of Stirling Square said: “Vernet is the genuine innovation and manufacturing leader in its field, with long term customer relationships, industrial know-how and intellectual property developed over its 90 year history. It is an honour to partner with Jean Sébastien Frank and the Vernet team as we seek to leverage existing capabilities to further penetrate international markets.”
Jean Sébastien Frank, President of Vernet and grandson of the Company’s founder stated: “I am extremely pleased to culminate the transaction. Vernet was founded in 1927 and has been under my family’s management since that time. Stirling Square has a proven track record in partnering with family-owned businesses. I am proud to represent my family’s legacy and invest alongside our new partner as we write the next chapter in Vernet’s story.”
Benoit Halard, CEO of Vernet, added: “Partnering with Stirling Square is a key milestone for Vernet. Their investment is recognition of the success we have had over the course of our long history, but also a vote of confidence in our future potential. I look forward to working with Stirling Square as we continue to innovate and grow the business in the coming years.”
The transaction represents the ninth platform investment in Stirling Square’s Third Fund.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of DOCU Nordic Group Holdings AB (“DOCU Nordic” or the “Company”).
DOCU Nordic is the leading provider of business intelligence and data analytics services essential in the generation of sales leads within the construction, real estate and healthcare markets across the Nordic region. Headquartered in Ljusdal, Sweden, the Company maintains market leading positions in Sweden, Denmark, Norway and Finland.
DOCU Nordic’s core business is Project & Product Information services, which provides intelligence for construction market participants and connects materials suppliers and contractors with developers and advisers (such as architects). Together, the Project & Product Information services segment maintains a proprietary centralised database of more than 94,000 construction projects and 16,000 building products, serving a subscriber base of over 22,000 customers across the entire construction value chain. DOCU Nordic additionally offers comparable products in the Commercial Property and Healthcare spaces.
Stefano Bonfiglio, Managing Partner of Stirling Square, commented: “DOCU Nordic is the clear leader in its space, providing valuable transparency in the highly fragmented and complex construction industry. Together with DOCU Nordic’s management team we look forward to evolving the Company to create an eco-system of intelligence among industry participants.”
Henrik Lif of Stirling Square commented: “DOCU Nordic is a terrific business providing mission-critical services to a broad customer base. As we look to the company’s future we see significant opportunity to more deeply integrate with existing customers, expand product offerings in established segments, and develop its footprint beyond the Nordics.”
Stefan Lindqvist, CEO of DOCU Nordic added: “With Stirling Square as new majority owner, we look forward to continuing our efforts to improve and expanding our offering of information services in existing and new markets.”
The transaction represents the eighth platform investment in Stirling Square’s Third Fund, and Stirling Square’s first platform investment in Sweden.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of Bitolea Holding SpA (“Bitolea”) by its Third Fund portfolio company Viscolube Srl (“Viscolube”) from Clessidra Capital Partners II (“Clessidra”).
Viscolube, a 2016 investment by Stirling Square’s Third Fund, is the Italian leader in the used motor oil recycling sector, and a growing player in the hazardous waste collection and treatment sector in Italy. It operates two chemical plants which process over 170 thousand tonnes of used lubricant oil annually and an industrial waste collection network managing more than 140 thousand tonnes for more than 12,000 customers.
Bitolea is the leading Italian player in the treatment and recycling of solvents and other chemical waste, managing over 110 thousand tonnes of products annually. The company is headquartered in Pavia and maintains a share of 35% in the waste solvent regeneration market in Italy, and a share of 65% in the active pharmaceutical ingredients (“API”) sub-segment of the market.
Both companies are chemical engineering-driven business with state-of-the-art facilities that will benefit from cross-fertilization initiatives and best-practice adoption. The combined business represents the technology leader in the liquid waste regeneration sector as well as a one-stop shop for industrial waste solutions.
Antonio Lazzarinetti, CEO of Viscolube commented: “The combination of Viscolube and Bitolea will create a national champion of the circular economy, with undisputed leadership in technology and process know-how, unique development capabilities, and a zealous focus on the highest environmental, health and safety standards.”
Enrico Biale of Stirling Square commented: “Bitolea represents a compelling strategic fit for Viscolube. This is a truly transformational acquisition, which establishes the clear leading platform in the highly fragmented hazardous waste industry. Importantly, both businesses serve a critical environmental service, as the alternative to regeneration for such waste is incineration. We are proud to invest in businesses founded on a principle of respect for the environment.”
Simone Cucchetti, Managing Director of Clessidra commented: “We are glad to complete this transaction. Over the past few years, we believe to have successfully transitioned Bitolea from a family owned business to a management-led corporate player. Bitolea will benefit from being part of a larger group in the context of the waste recycling industry.”
Clessidra and Bitolea were advised by Lazard (M&A Advisory), NCTM (Legal), PricewaterhouseCoopers (Accounting), Bain & Co (Business).
Stirling Square and Viscolube were advised by Leonardo & Co. and Banca Euromobiliare (M&A Advisory), Pavia e Ansaldo (Legal M&A), Gattai Minoli Agostinelli & Partners (Legal Banking), and Equita SIM (Debt Advisory).
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces an investment in the Isoclima Group ("Isoclima" or the “Company”) as part of a management buyout co-led by Isoclima co-founder Alberto Bertolini and industry veteran Bill O'Gara.
Isoclima is the global solutions leader in transparent armour and high-performance glass products. It is headquartered in Este, Italy and employs more than 700 staff in operations across Italy, Croatia and Mexico. Since its founding in 1977 by Augusto Gasparetto and Alberto Bertolini, Isoclima has emerged as the best-in-class producer of high-quality, high-complexity and high-performance glass solutions. For decades, Isoclima has shaped the industry’s leading technical boundaries of ballistic protection, optical clarity, shaping, precision tolerance and weight efficiency. Isoclima’s end-markets include Civilian and Military Armoured Vehicles, Specialty Vehicles, Marine, Architecture, Aerospace and Rail.
The transaction cements a strategic and financial partnership involving Stirling Square, Alberto Bertolini (the co-founder who will continue to lead the Company's R&D and strategic key accounts development) and Bill O’Gara (the veteran manager of civilian and military armouring and defence companies). Stirling Square will support Isoclima's international development strategies, Mr. O'Gara will lead the execution of these strategies as Group Chief Executive Officer, and Mr. Bertolini will remain a key shareholder and executive director of the Company. Isoclima's senior management team is also joined by Chip Lennon (EVP Global Operations), Steve Ratterman (EVP International) and Mirko Prato (EVP Finance). The headquarters of the Company and principal facilities will remain in Este, Italy, which will also continue to be the R&D centre for the Company.
Gregorio Napoleone of Stirling Square commented: “We are delighted to partner with Alberto, Bill and the management of Isoclima, the global 'gold standard' in high-performance glass solutions. Assiduous R&D, product innovation and process know-how have placed the Company in a market-leading position. We see a great deal of potential for Isoclima and, alongside our new partners, intend to rapidly accelerate its product development and delivery into new sectors and geographies”.
Bill O’Gara added: “It is with tremendous excitement that I join Alberto and the Isoclima management today. I have known Alberto for three decades, during which I have admired his pioneering vision and entrepreneurial spirit and I look forward to a powerful new partnership with him and Stirling Square".
Alberto Bertolini noted: “It is with great pleasure that I team up with Stirling Square and an international management group led by Bill to take Isoclima to the next level. This partnership will allow the Company to capitalise on its strengths and tap its true potential, including via organic development, external alliances and acquisitions.”
The transaction represents the seventh platform investment in Stirling Square’s Third Fund.
Advisers to Stirling Square:
Canaccord – M&A Advisory
Fineurop Soditic – Debt Advisory
Roland Berger – Commercial
Pavia e Ansaldo – Legal (M&A)
Gattai Minoli Agostinelli & Partners – Legal (Debt)
KPMG – Financial and Tax
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, announces the sale of 3SI Security Systems, a global leader in asset protection systems and an innovator of GPS tracking technologies, to LLR Partners, a Philadelphia-headquartered lower middle market private equity firm.
3SI is a global leader in asset protection systems with more than 40 years of experience serving the financial and retail markets. 3SI’s solutions include currency degradation and GPS tracking solutions to protect cash and high-value assets for banks, retailers, and law enforcement agencies.
Over the course of its investment, Stirling Square transformed 3SI from a cash-in-transit security business to a technology-based security solutions provider for a variety of industries and sectors.
The sale marks the final exit from Stirling Square’s First Fund.
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, is pleased to announce the appointment of Henrik Lif to the investment team. Henrik will be based in London and will strengthen the firm’s sourcing and execution capabilities across Europe.
Prior to joining Stirling Square, Henrik served as Managing Partner at Segulah, the Nordic mid-market private equity firm headquartered in Stockholm, Sweden. At Segulah, Henrik played a pivotal role in raising the firm’s fifth fund, and was lead partner in key investments including the acquisitions of Semantix, a Nordic translation and interpretation company, Zengun, a high-end commercial property constructor in Stockholm, Teknikmagasinet, a leading Nordic retailer of high-end gadgets and hobby products and Docu Nordic, the number one information services provider to the Nordic construction industry.
Prior to Segulah, Henrik spend 13 years within the Nordic Capital group. At Nordic he served as an Investment Manager and Director, investing in companies including Anticimex (pest control), Biovitrum (life science), KappAhl (fashion retail) and CPS Color, the world leading provider of paint tinting solutions, where he also served as President and CEO from 2009 to 2013.
Stefano Bonfiglio, Managing Partner at Stirling Square, commented: “We are excited to welcome Henrik to the firm. His thorough understanding of the Nordic markets will complement our team’s pan-European sourcing and investment capabilities.”
Henrik added: “I am thrilled to be joining Stirling Square. It is a fantastic team comprised of deeply experienced investment professionals specialising in complex pan-European opportunities. I look forward to contributing to the firm’s future success.”
London, 8 March 2017 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, is pleased to announce the appointment of Dietrich Hauptmeier to its investment team. Dietrich will be based in London and contribute to the firm’s investing activities in the DACH region.
Dietrich joins Stirling Square from TA Associates, a growth-focused private equity firm with offices in Boston, Menlo Park, London, Mumbai, and Hong Kong. As a Principal at TA Associates he focused on coverage of industrial, technology, and business and financial services companies in northern Europe. While at TA Associates, Dietrich was a board member of Onlineprinters, a web-to-print service provider based in Germany, and a board observer at Soederberg & Partners, a provider of pension and other financial products based in Sweden. Prior to TA Associates Dietrich also spent time on the investment teams at Palamon Capital Partners and KKR, both in London.
Stefano Bonfiglio, Managing Partner at Stirling Square, commented: “We are delighted to welcome Dietrich to our growing team. Stirling Square’s already strong presence in the region will be bolstered by Dietrich’s deep experience in sourcing and executing transactions in Germany and beyond.”
Dietrich added: “I am excited for the opportunity to join the distinctly entrepreneurial and pan-European team at Stirling Square, which has unique abilities to handle the complexity inherent to the mid-market. In my new role I look forward to supporting great businesses and managers in fulfilling their ambitions, be it through consolidation, vertical integration, geographic expansion, or other value creation strategies.”
Omni Helicopters International S.A. (“OHI”), parent of Brazil's leading offshore aviation specialist Omni Taxi Aéreo S.A. (“OTA”), and Omni Blu Aviation Ltd. (“Omni Blu”), the independent provider of aviation services in Nigeria, today announced their strategic alliance to launch, promote, and develop Omni Helicopters Nigeria (“OHN”). OHN will make use of OHI's technical expertise, access to aircraft and track record in safety and operating performance, as well as Omni Blu's local capabilities and strong service reputation. The joint venture, which is crafted to meet the more demanding OGP standards in offshore aviation as well as local content requirements in Nigeria, aims to create a solid source of safe and reliable service for the Nigerian oil and gas market, one of the world's most developed with c.60 helicopters in use.
The strategic alliance between OHI and Omni-Blu will help requalify Nigerian offshore aviation by accessing resources that will lead to the introduction of new aircraft technologies and safety systems, in turn boosting investment, training and formation. This will benefit the broader Nigerian aviation sector and impact the overall economy by elevating local capabilities and promoting increased employment, professional development and sustainable competition.
Captain Sunny Adegbuyi, Managing Director of Omni Blu, stated: “This alliance is great news for Nigeria and a welcome development for her economy, as well as the aviation and O&G sectors. At a time when aviation companies are divesting and pulling out of the industry, OHI has demonstrated its faith and confidence in the aviation policy of the present administration, carefully crafted and piloted by the Hon. Minister of State (Aviation) Senator Hadi Sirika, as fully endorsed by the President, Commander-in-Chief of the armed forces of the Federal Republic of Nigeria, His Excellency Muhammadu Buhari, GCFR. We are delighted to partner with one of the world's best helicopter operators at a critical time for Nigerian offshore aviation. We aim to meet the rising demands of this market with a unique balance of operational strengths and local content. We have known the founders of OHI for two decades and hold them in high esteem. OHI's achievements in Brazil, the world's fastest-growing offshore aviation market, are testament to the capabilities of our partner.”
Captain Rui Almeida, founder of OHI, commented: “We are excited to join forces with Omni Blu in the development of a safe and reliable offshore aviation market in Nigeria. The current situation In Nigeria is similar to the environment we found in Brazil in 2006, when tightening regulations and substantially upgraded demands from oil and gas clients offered opportunities to new entrants. We succeeded by transferring know-how, granting access to assets and empowering local excellence. We are familiar with Nigeria, having operated there in the past, and understand the standards of oil and gas clients, having serviced many of these clients in Brazil already. We share the ethos and ambitions of our valued partner Omni-Blu, and are confident that this alliance will truly make a difference to the Nigerian offshore aviation market.”
Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the appointment of Pascal Monteiro de Barros and Charlotte Woltz to strengthen the firm’s Investor Relations capabilities. Both will be based in London.
Pascal joins Stirling Square as the Partner in charge of Investor Relations from MAB Partners, a specialist placement agent, where he was also a Partner. At MAB, Pascal worked with large institutions, wealth management firms, and family offices globally on placing investments. Prior to MAB, Pascal spent eight years at the fund of hedge funds manager EIM, where he managed client relationships in Europe, Brazil and the Middle East. At EIM he was also responsible for new product development. Pascal began his career as an entrepreneur in the digital printing and telecom industries in his native country of Portugal.
At Stirling Square, Pascal will be responsible for developing and maintaining the firm’s broad network of international client relationships, and aspects of firm strategy. He will also oversee Stirling Square’s communications and external relations, and contribute to the firm’s investing activities in the Iberian Peninsula.
Pascal received a BA in History from Hamilton College and an MBA from The Darden School at the University of Virginia, where he currently serves as a member of Darden’s Global Advisory Council.
Charlotte joins Stirling Square after earning her MBA from Harvard Business School. Prior to Harvard, Charlotte worked at Highbridge Capital Management, a New York City-based hedge fund manager, in strategy and business development capacities. At Highbridge, she helped manage investor relationships and functioned as a product specialist for the firm’s flagship Multi-Strategy fund. Charlotte began her career in Investment Banking at Bank of America Merrill Lynch in New York. At Stirling Square, Charlotte will work with Pascal to strengthen the firm’s international investor base.
Stefano Bonfiglio, Managing Partner at Stirling Square commented: “We are thrilled to welcome Pascal and Charlotte to the firm. Both individuals have a deep understanding of how to establish investor relationships and a proven ability in cultivating international networks. Stirling Square already enjoys a successful track record as a pan-European leader in complex mid-market investments. The addition of Pascal and Charlotte will further enhance the firm’s fundraising capabilities and international scope.”
London, 19 December 2016 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces the acquisition of AD Industries SAS (“AD Industries” or the “Company”).
AD Industries is a leading French manufacturer of complex, critical sub-assemblies and components for the aerospace, defence, and energy markets. The Company was acquired for an undisclosed amount from majority owner Ingefin (a family holding company), and minority investors BPI France and GE Capital. The Company is headquartered in Paris and generates revenues in excess of €200 million. It employs more than 1,500 people across manufacturing facilities in France, Tunisia, and Morocco.
Since its creation in 2004, AD Industries has developed unique capabilities in machining, sheet metal work, welding, heat treatment for large mechanical parts, complex forming, high-tech composite parts and hydraulic components. The Company possesses market-leading expertise in R&D, design, project management, and manufacturing of complex, critical sub-assemblies and equipment to original equipment manufacturers (including Safran, Rolls-Royce, Airbus, and Dassault, among others).
As part of the transaction Stirling Square has appointed Evrard Willemaers to the position of CEO. With more than 15 years of experience in aerospace, Mr. Willemaers joins AD Industries from Precision Castparts Corporation Europe where he spent 9 years in various senior management positions.
Julien Horreard of Stirling Square commented, “This is a classic primary investment for Stirling Square, with the potential to institutionalise the business whilst continuing to pursue organic growth and international M&A. We are delighted to partner with Evrard and the deeply experienced AD Industries management team, and look forward to supporting the Company in its expansion beyond France”.
Evrard Willemaers added, “AD Industries has become a leading supplier of high precision engineered parts and sub-assemblies for aircraft, helicopter and engine original equipment manufacturers. This announcement marks the beginning of another exciting chapter in the history of the Company. Stirling Square has significant experience in supporting businesses with international growth ambitions and a proven track record in the aerospace sector”.
The transaction represents the sixth platform investment in Stirling Square’s third fund.
LONDON, 15 December 2016 – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announces that it has signed an agreement to sell ESE World B.V. (“ESE” or “the Company”), Europe’s largest pure play temporary waste storage solutions provider, to RPC Group Plc (“RPC”) for a consideration of €262.5 million.
Under Stirling Square’s ownership, ESE has focused its operations to become Europe’s leading provider of temporary waste storage solutions. The Company has achieved strong sales by concentrating on a customer-focused strategy, delivering a high quality service to regional and pan-European customers. For the year ending 31 December 2016, ESE is expecting to achieve revenues in excess of €200 million at industry-leading margins.
ESE services a broad customer base ranging from local municipalities to private waste service providers. The Company’s manufacturing footprint comprises two facilities in Germany and France and one R&D centre in Germany employing approximately 600 full time employees. Björn Hedenström, Chief Executive Officer of ESE, will continue to lead the business which will be an independent business unit within RPC going forward.
Jakob Förschner, a Partner at Stirling Square, said: “It was an honour for Stirling Square to partner with Björn Hedenström and his outstanding team. We are delighted that management chose RPC as a platform for further growth.”
Stirling Square was advised by Harris Williams & Co (financial) and Hengeler Mueller (legal).
Acorn is a leading high quality children’s services provider, offering special needs education (SEN), residential and foster care, for children and young adults with complex needs.
4 August 2016, London – The National Fostering Agency (“NFA”) , a portfolio company of Stirling Square Capital Partners, today announces the acquisition of Acorn Care and Education Limited (“Acorn”) from Ontario Teachers’ Pension Plan.
Established in 2005, Acorn has built a reputation as a high quality children’s services provider, offering special needs education (SEN), residential and foster care, for children and young adults with complex needs. Acorn builds its care around the unique situation and individual circumstances of each child.
NFA is a leading provider of independent fostering services, helping to support Local Authorities meet their statutory sufficiency duty to provide safe and secure foster homes for those children and young people for whom they have a legal responsibility.
The acquisition will add residential and SEN capabilities to NFA’s existing fostering services, enabling the combined group to offer more ways to improve the life chances for vulnerable and looked after children and young people. While NFA and Acorn will continue to focus on their individual operations, the combined organisation will be responsible for 5.8% of looked after children placements nationally. Acorn’s fostering arm is a good geographic fit for NFA, enabling capacity growth in a somewhat fragmented independent provider sector.
Iain Anderson, Group Chief Executive for NFA said “There are currently over 93,000 looked after children in the United Kingdom of whom 55,400 are with foster families registered with either a Local Authority or an Independent Fostering Provider. Fostering Network, an established charity in the sector, noted in January 2016 there was a national shortfall of 9,070 foster carers.
Support to children’s services is provided by a range of public sector and independent providers and it is essential we ensure the resources needed for the care of looked after children are maintained and readily available. Working with the specialist teams at Acorn will help us provide a broad range of these much needed quality resources for the care, education and future development of vulnerable children.
Aurelien Benoit and Jan-Henning Saitz join as Executives
7 March 2016 - Stirling Square Capital Partners ("Stirling Square"), a leading pan-European mid-market private equity firm, today announced the appointment of Aurelien Benoit and Jan-Henning Saitz as Executives to the firm.
Aurelien was previously an Associate at Goldman Sachs where he worked in the Investment Banking Division in London. He completed an MBA at INSEAD and prior to that qualified as a Chartered Accountant whilst at PricewaterhouseCoopers in France and the United States of America. Aurelien also has an MSc in Economics from the Institut d'Administration des Entreprises de Grenoble and speaks French and English.
Jan was previously an Investment Associate at Better Capital in London where he specialised in distressed private equity investments in the UK and Germany. He holds an MSc in Management from the London Business School and a BSc in Business Administration from the University of Mannheim and speaks German and English.
Commenting on the appointments, Stefano Bonfiglio, Managing Partner, said: "We are pleased to welcome both Aurelien and Jan to the Stirling Square team as we continue to add new talent and expertise in line with our plans for our recently closed Third Fund."
Mettis is a leading international manufacturer of precision forged and machined components used in performance-critical aerospace engines and structural applications
The transaction marks the pan-European private equity investor's fourth investment from its Third Fund, which recently held its final closing at the hard cap of €600m
23 February 2016, London - Stirling Square Capital Partners ("Stirling Square"), a leading pan-European mid-market private equity firm, today announces the acquisition of Mettis Aerospace Ltd ("Mettis"), an international manufacturer of precision forged and machined components for the aerospace sector. The business was acquired from Saints Chamonix for an undisclosed value.
Mettis offers a fully integrated platform from initial design and development through to forging (with presses ranging from 500 tonnes to 12,000 tonnes), machining, finishing and testing. Mettis has significant technical expertise and know-how in forged alloy components, of increasing importance in the aerospace sector given the emphasis on high strength and lightweight.
Founded over 75 years ago, Mettis now has an established global customer base in the aerospace sector and, in particular, significant relationships with Airbus, Rolls-Royce and Boeing. Mettis operates from a single 1,215,000 sq.ft. purpose-built facility in Redditch, UK and has approximately 500 employees. Gordon Fraser, Mettis CEO, heads an experienced senior management team who, with the support of Stirling Square, will pursue further organic and acquisition growth opportunities for the company.
Julien Horreard of Stirling Square commented, "We are delighted to be supporting this ambitious management team in the future development of one of the UK's leading manufacturers of forged safety-critical components for the aerospace industry. Aerospace is a sector known well to Stirling Square, and together with the management team, we are committed to implementing an ambitious growth plan for Mettis, including further sector consolidation."
Gordon Fraser added: "We have found a like-minded and committed team at Stirling Square to work with going forward. Mettis will benefit from their support, including their sector knowledge and pan-European outlook, as we implement the next stage of our growth plans."
Stirling Square Capital Partners, a leading private equity investor in the European mid-market, announces the final closing of its Third Fund at its hard cap of €600m
Third Fund commitments exceed the size of Stirling Square’s Second Fund, which raised €375m in 2010
7 January 2016, London – Stirling Square Capital Partners (“Stirling Square”) is pleased to announce the successful final closing of its Third Fund at the hard cap of €600m, significantly above target and representing a notable increase on its €375m Second Fund. Third Fund will maintain the focus of prior Stirling Square funds, building upon the proven strategy of investing across Europe in mid-market companies offering transformational value creation potential.
Existing Second Fund investors comprise over 60% of the total Third Fund commitments, with the remainder raised from new investor relationships. Together, they represent a strong investor base of leading pension funds, fund of funds, insurance companies, endowments, family offices and sovereign wealth funds with a broad geographic representation across Europe, the US, Middle East and Asia-Pacific.
The Stirling Square team consists of fourteen experienced, multi-national professionals who originate, execute and manage opportunities in all key geographies across Europe. Since the founding of Stirling Square in 2002, the team has been a significant investor in its own funds and, consistent with that philosophy, represents more than 7% of Third Fund commitments.
Since the first close of Third Fund, Stirling Square has acquired three portfolio companies and has a number of potential investments in the pipeline.
Stefano Bonfiglio, Managing Partner at Stirling Square commented, “We are delighted to retain such a large number of our existing investors, some of whom have been investing with Stirling Square for over ten years. We are equally pleased to welcome new investors to our Third Fund. We greatly appreciate their commitment and continued resounding support for our strategy. It endorses the quality of our team and our performance, of which we are immensely proud.”
Rede Partners acted as Placement Agent and Clifford Chance as legal, tax and regulatory advisor for the fundraising.
Siblu owns and operates 14 premium 4* holiday parks in France where it is the market leader in the owner-occupier model of site management
Transaction marks the pan-European private equity investor’s third acquisition from its Third Fund
7th August 2015 – Stirling Square Capital Partners (“Stirling Square”), the leading pan-European lower mid-market private equity firm, today announces the acquisition of Siblu Holdings Limited (“Siblu”), the French market leader in owner-occupied holiday parks. The company owns and operates a portfolio of 14 large, high-end holiday villages, with over 8,000 pitches and with sites located across Normandy, the Brittany coastline, the west of France, the Loire Valley and the Mediterranean coast.
Siblu boasts excellent brand recognition and customer satisfaction, and enjoys a unique strategic positioning, being the only pure player in the French market focused on the high-visibility, lower cyclicality owner-occupied business model. Siblu head office is at Pessac, near Bordeaux and the company employs almost 300 people permanently and considerably more temporary staff in the peak holiday season.
Under the leadership of a broad senior executive team headed by CEO Leslie Hurst and supported by Stirling Square, organic and acquisition growth opportunities will be pursued.
Julien Horreard of Stirling Square said of the acquisition: “Siblu’s unique business model combined with its leadership position are attractive fundamentals and provide an excellent platform from which to grow the business. Together with the management team, Stirling Square is committed to implementing an ambitious growth plan for the future and we look forward to being a part of Siblu’s continued success.”
Leslie Hurst, Siblu CEO since 2004, added: “We are delighted to have gained the support of the entrepreneurial and committed team at Stirling Square. They also bring a broader European focus to our endeavours and will be well qualified to assist us in our continuing development.”
Ben Hopper joins as an Executive
3 August 2015 - Stirling Square Capital Partners (“Stirling Square”), a leading pan-European lower mid-market private equity firm, today announced the appointment of Ben Hopper as an Executive to the firm. Ben was previously a Senior Manager at PricewaterhouseCoopers where he worked in the Corporate Finance team both in London and Johannesburg.
Ben has recently completed his MBA from London Business School and has a BA from Nottingham University. Ben is also a Chartered Accountant. Commenting on the appointment, Stefano Bonfiglio, Managing Partner, said: "We are pleased to welcome Ben to the Stirling Square team as we continue to add new talent and expertise."
Acquisition of AW-139 and S-76 helicopters under long term contract with Petrobras
LISBON, 14th May 2014 – Portugal-based Omni Helicopters International S.A. [“OHI”] today announced the acquisition of four AW-139 and four S-76 helicopters from Synergy Group Corp. [“Synergy Group”], a South American conglomerate. All of the helicopters are contracted to Petroleo Brasileiro S.A. [“Petrobras”] and will become part of the fleet operated by the Brazilian affiliate of OHI, Omni Taxi Aéreo S.A. ["OTA"]. The acquired helicopters will complement OTA’s existing fleet of 10 AW-139 and 11 S-76 helicopters and will remain based at Brazil’s offshore heliports of Jacarepaguá and Macaé, where OTA already operates 30 helicopters. Following this transaction, OTA will operate 57 aircraft.
OHI’s investment was supported by Stirling Square Capital Partners [“Stirling Square”] and affiliated co-investors.
Based in Lisbon, OHI is a financial holding company engaged in fleet management and investment in helicopter operators providing transportation services to the offshore energy sector. Its helicopter fleet is operated mainly by OTA in Brazil, the world’s fastest-growing offshore energy market. OTA has been the fastest-growing helicopter operator in Brazil in recent years.
Rui de Almeida, Executive Chairman and co-founder of OHI and OTA, said “We are pleased to have made such a significant acquisition, it represents a natural consolidation step for OTA’s activities in Brazil and asset build-up is a critical component of OHI’s strategic development. The OHI team led by Richard Burman will be working closely with Roberto Coimbra, CEO of OTA, and his management team, to integrate the eight aircraft into the existing OTA fleet smoothly, so as to provide Petrobras with the high-quality, safe and reliable service it requires.”
Gregorio Napoleone, Partner at Stirling Square, said: “We support the transformational change underway at OHI and OTA. This management team has maintained an excellent operating record in Brazil, as its managed fleet of helicopters has grown in size and diversity. The acquisition consolidates OTA as the largest operator of AW-139 helicopters in Brazil’s offshore energy sector at a time when the medium segment has reached maturity and the heavy segment anticipates above-average growth on the back of pre-salt developments.”
Jonathan Heathcote returns to Stirling Square and joins as a Partner
Matteo Nichil joins as an Executive
15 November 2013 - Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announced that it has appointed Jonathan Heathcote as a Partner and Matteo Nichil as an Executive to the firm.
Jonathan joins from Palamon Capital Partners where he was one of six partners responsible for the origination, execution and management of European mid-market investments, primarily in Spain, Germany and the UK. Prior to this, Jonathan was a consultant to Stirling Square in 2007-08 and was involved in a number of notable transactions during that time, including the acquisition of Italian aerospace company Microtecnica. He was a Partner at European Acquisition Capital 2002-07 and was responsible for sourcing, executing and managing a portfolio of investments, primarily in the UK and France. Prior to this, Jonathan was a consultant at McKinsey and a Royal Marines Officer.
He also holds an MBA from Harvard Business School and an MA from Oxford University.
Matteo joins from Bank of America Merrill Lynch where he was an Associate in the M&A team. He joins with a range of transaction experience in the consumer and TMT sectors.
Matteo holds an MSc from the CASS Business School, City University, London and a BSc from Università Bocconi, Milan and speaks both English and Italian.
Commenting on the appointments, Stefano Bonfiglio, Managing Partner, said: "As we continue to add new talent and expertise to our team, it is particularly pleasing to welcome back Jonathan, a former colleague and a proven resource in the origination and management of complex, cross-border transactions. His skills will complement the existing team well as we continue to grow Stirling Square. Matteo has proven transaction execution skills and will provide additional support to the team on opportunities arising across Europe."
Cartonplast is the European market leader for the processing and servicing of plastic layer pads used in the food and beverage industry for transporting glass containers
German / Spanish transaction marks the pan-European private equity investor’s seventh acquisition from its second fund
7 January 2013 – Stirling Square Capital Partners (“Stirling Square”), the leading pan-European lower mid-market private equity firm, today announces the signing of acquisition documentation in respect of Cartonplast Group GmbH (“Cartonplast”), the European market leader in processing and servicing of reusable plastic layer pads (“PLP”) used in the food and beverage industry for transporting glass containers. The acquisition is subject to, amongst other matters, anti-trust approval and is for an undisclosed sum. As part of the transaction, Stirling Square and Cartonplast management will acquire 100% of Cartonplast from Synergo SGR SpA and the 50% stake in Cartonplast’s Madrid-based Iberian subsidiary that Cartonplast did not already own, from the Ferragut family.
PLPs are used for the safe and hygienic transportation of glass containers between the place of manufacture and filling. Cartonplast’s service is based on a unique closed-loop logistics system which encompasses the procurement, rental, cleaning and recycling of over 120 million PLP deliveries each year. As PLPs are re-usable and the entire closed-loop cycle is managed by Cartonplast, the service provides an environmentally sustainable basis for the packaging and transportation of glass containers.
Headquartered in Dietzenbach, Germany, Cartonplast employs over 400 people in nine countries, with 14 service centres across Europe. From this base, the company delivers PLPs to 133 glass manufacturers in 19 countries that ultimately deliver PLP-stacked containers to about 4,000 fillers; it is from these fillers that PLPs are then collected by Cartonplast for re-conditioning before further service.
Under the leadership of a broad senior executive team headed by CEO Joachim Kreuzburg and supported by Stirling Square, organic and external growth opportunities will be pursued in the European, Asian and Latin American markets.
Gregorio Napoleone, Partner at Stirling Square, said: “Cartonplast's unique business model and pan-European footprint, combined with its leadership position in the markets served, are attractive fundamentals and provide an excellent platform from which to grow the business. An experienced and ambitious management team is in place and initiatives are under way to expand Cartonplast beyond its historic boundaries. This transaction has a natural fit with Stirling Square’s strategy and we are enthusiastic at the prospect of placing our experience and capabilities in support of this team of entrepreneurial managers."
Joachim Kreuzburg, Cartonplast CEO since 2010, added: "In addition to fresh capital for our expansion, Stirling Square offers a truly international perspective for the future development of our business, both across Europe and in important new, growth markets such as Asia and Latin America. We will grow with our customers by providing a quality service across national boundaries and through diversification across new products and markets. With the support of Stirling Square I am confident on the future development of our business.”
Advisers to Stirling Square:
Fineurop Soditic – M&A Advisory
Rothschild – Debt Advisory
Latham & Watkins – Legal (M&A)
Clifford Chance – Legal (Banking)
KPMG – Financial and Tax Due Diligence, Structuring
LEK – Commercial Due Diligence
Roland Berger – Commercial Due Diligence
ERM – Environmental Due Diligence
Willis – Insurance Due Diligence
Advisers to Vendor:
UniCredit – M&A
Deloitte – Financial
DLA Piper – Legal
LEK - Commercial
London, 17 April 2012 - Real Deals Magazine has awarded Stirling Square Capital Partners the Private Equity Award 2012 (Mediterranean Deal of the Year) for its investment in Microtecnica.
The award is made annually by Real Deals Magazine in conjunction with CASS Business School for deals exited in the previous year. CASS Business School review all the private equity deal exits in the year and recommend those which demonstrate the best aspects of private equity ownership.
A pre-eminent panel of judges from the private equity market then determine the winner. For Microtecnica, the judges made particular reference to the multiple strands of change implemented during the period of private equity ownership and the text book example of value creation.
Acquisition marks the European private equity investor’s sixth deal from its €375m second fund and its first investment in Norway
LONDON/TANANGER, 13 April 2012 – Stirling Square Capital Partners [“Stirling Square”], the leading pan-European private equity firm, today announces the acquisition of SAR AS [“SAR”], the leading provider of total waste management solutions for the Norwegian offshore oil & gas industry, from AR Incoronato AS and Westco AS who have developed the business over the last fifteen years. The acquisition, for an undisclosed sum, is the sixth from Stirling Square’s second fund, its second in the oil & gas sector and its first in Norway.
SAR services the oil & gas industry through the handling and treatment of oil contaminated drill waste, hazardous and industrial waste from offshore oil installations and tank cleaning through its nine bases strategically located along the Norwegian coastline. As a requirement for operating on the Norwegian Continental Shelf, North Sea standards prevail, the highest standards globally within the oil & gas sector with respect to environmental treatment, operational protocol and safety regulations. Using its proprietary processes and industry-leading reputation, SAR is now developing its operations internationally as oil majors seek to operate at North Sea standards in other offshore oil and gas locations. SAR has secured contracts in India and Jordan and the further development of its international operations will be a focus for the management team going forward.
SAR is headquartered in Tananger, Norway and employs approximately 250 people at its nine bases along the Norwegian coastline, making it the only waste treatment company in Norway able to service all offshore locations active on the Norwegian Continental Shelf. Each of its bases represents an onshore point of entry for all types of waste from offshore oil & gas installations and SAR’s business comprises the handling, sorting and treatment of the key waste streams and related services such as tank cleaning. The company is well invested, with modern vessels for the transportation and storage of the waste and dedicated specialised facilities and processes for the treatment of waste.
Stirling Square plans to grow SAR through further penetration of the Norwegian market as the offshore oil & gas sector grows and through geographical expansion into new markets which are moving towards best-in-class North Sea standards for the treatment of waste.
Bolaji Odunsi, Partner at Stirling Square, says: "Following our first investment into the offshore oil & gas sector in 2011, we are delighted to have secured a second investment in this growth sector and it represents our first investment in Norway. SAR is a perfect fit with Stirling Square’s investment strategy, which focuses on acquiring companies with a leading position in their national market and developing their cross border activities, delivering international market consolidation and the potential for transformational change and value creation. We are delighted to have completed the acquisition and look forward to supporting the existing management team around CEO Per Kristian Nagell and Deputy CEO Oyvind Jensen."
Per Kristian Nagell, CEO of SAR, said: "Management and staff of SAR are excited about working with Stirling Square, who understand the local market here in Norway and have an enthusiasm for development of our business internationally. With their knowledge of and relationships in the oil & gas sector we are well positioned to deliver best-in-class waste handling services to the oil majors that we service across multiple offshore and onshore oil & gas locations globally. We are very much looking forward to further developing the company together with our new shareholders."
”Having developed SAR from its origin as a small and local waste logistics company to becoming the leading provider of total waste management solutions to the offshore oil & gas industry in Norway has been an exciting journey” comments Trygve Jacobsen the owner of Westco AS. ”In order to take the company to the next level we felt a different skill set was needed. We are therefore pleased that SAR now has new owners with the necessary experience and resources to accelerate the company’s international ambitions,” adds Arne Incoronato, the owner of AR Incoronato AS.
Advisers to Stirling Square:
Enskilda – Financial
Aabø-Evensen & Co – Legal
PriceWaterhouseCoopers – Financial and Tax Due Diligence
OC&C – Commercial
Advisers to Westco AS and AR Incoronato AS:
Arctic Securities – Financial
Wahlberg AS – Strategic
Kluge – Legal
Rystad Energy – Commercial
Stirling Square Capital Partners (Stirling Square), the leading pan-European lower mid-market private equity firm, is pleased to announce the appointment of Patric Klees to its Investment Team.
Until June 2011, Patric Klees worked for Capvis Equity Partners Ltd., a mid-market buyout fund based in Zurich, with representative offices in Frankfurt and Shanghai. As Investment Director at Capvis, Patric successfully sourced and led transactions in various sectors and geographies over the last nine years. He has undertaken a number of roles and has been involved in establishing and raising new fund initiatives. Prior to Capvis, Patric was with D.B. Zwirn & Co LP in New York.
Patric holds an MSc in Business Administration from the University of Zurich, Switzerland and the Chartered Alternative Investment Analyst (CAIA) designation. He speaks German, English, French and Spanish. He is a non-executive Advisor at Diener Syz Real Estate, a real estate private equity fund in Asia.
Commenting on the appointment, Stefano Bonfiglio said: "We are very pleased to add new talent to our team. Patric has proven capabilities in complex, cross-border transactions in the mid-market, which is exactly the experience required to succeed here. Patric will have a significant role to play at Stirling Square and with him the Stirling Square investment team will represent eight different nationalities with eight European languages spoken."
Patric Klees said: "I am pleased to have the opportunity to build on my experience in the mid-market. Stirling Square has a reputation for complex, international cross-border transactions, as well as special situations, a field which excites me and I look forward to contributing to the Stirling Square team".
LONDON, 22December 2011 –The Italian Private Equity Association (AIFI) has awarded Stirling Square Capital Partners the 2011 private equity transaction of the year award (buy-out category) for its investment in Microtecnica. The award is made annually by AIFI in conjunction with Ernst & Young for the deal which best demonstrates the value creation potential of private equity ownership. In reviewing eight finalists, the judges noted a transformational change at Microtecnica during the period of Stirling Square ownership. This comprised the successful delivery of an operational improvement programme, the investment of increased levels of capital expenditure/R&D and the recruitment of a number of key managers to grow the business.
Stefano Bonfiglio, Partner at Stirling Square, said: “We achieved a true alignment of interest with the management team at Microtecnica led by CEO Alan Bean. It was the managers who saw the opportunity to transform the business, changes that could be delivered through accessing private equity capital and working with an international partner knowledgeable in the aerospace and defence sector. I wish the management team well for the future.”
A €40m growth capital investment marking the European private equity investor’s fifth transaction from its €375m Second Fund
LONDON, 23 November 2011 – Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm focused on transformational cross-border transactions, today announced a €40m growth capital investment into Portugal-based Omni Helicopters International S.A. [“Omni” or “the Company"].
Based in Lisbon, Omni is the helicopter services specialist that was recently de-merged from the broader aviation group Omni Aviação SGPS S.A.; it owns a fleet of medium- and heavy-lift helicopters servicing the oil & gas industry and emergency medical transportation services. The Company's helicopter fleet is operated by its Brazilian affiliate Omni Taxi Aéreo S.A. ["Omni Brazil"], the country’s second largest oil & gas helicopter services operator with 40 aircraft under management. Brazil has one of the fastest-growing oil & gas markets in the world, particularly offshore, and Omni Brazil is the fastest-growing local operator, with five-year CAGRs to 2010 in fleet, revenues and flown hours of 46%, 64% and 41% respectively.
Based in Rio de Janeiro, Omni Brazil deploys mission-critical services in the transportation of personnel and equipment from onshore bases to offshore platforms and other installations as well as in emergency medical evacuations. The business operates its own pilot training academy and maintenance centres and is a best-practice operator with a lifetime accident-free record and average aircraft availability of 92% over the past five years. It is also the only operator in the country to be accredited with ISO-9001, ISO-14001, OSHAS-18001 and NBR-16001.
The investment is the fifth from Stirling Square’s Second Fund and capitalises on the private equity firm's unique capabilities in complex cross-border transactions. Alongside Stirling Square are two prominent Brazilian co-investors, Salim and Eugenio Mattar, who have partnered with the firm's founding partners in a previous transaction. Together, the investors will provide financial and institutional support to achieve the growth targeted by Omni in the future. Omni Brazil expects to expand its managed fleet by more than 40% in the next five years, in alignment with Brazil's offshore oil & gas development programme.
Stirling Square and the Brazilian co-investors will work closely with the Company’s management to grow the business through investment in new helicopters, further enhancements to Omni’s operating excellence and the development of associated corporate architectures to enable the growth projected. Additionally, Stirling Square will support the pursuit of Omni’s international expansion plans.
Gregorio Napoleone, Partner at Stirling Square, said: “This complex transaction capitalises on our unique capabilities and represents a perfect fit with Stirling Square’s investment strategy, which focuses on promoting transformational change and superior value creation at companies characterised by defensible business models and talented management teams. We are enthusiastic at the prospect of partnering with Omni Helicopters International's entrepreneurial managers and look forward to supporting them in their ambitious growth plans.”
Stefano Bonfiglio, Partner at Stirling Square, said: “This investment represents an opportunity to partner up again with prominent entrepreneurs, Salim and Eugenio Mattar, with whom we have worked successfully in the past in the development of one of the most profitable and fastest growing car rental companies in the world, Brazil-based Localiza Rent a Car (SAO: RENT3). We look forward to replicating such value creation with Omni Helicopters International in a similar context.”
Salim and Eugenio Mattar, co-investors in Omni, said “We are delighted to support the continued development of Omni Brazil and to offer our experience in growing capital-intensive businesses profitably, and are confident in the future success of this excellent business platform and experienced management team. Given the scale and importance of oil & gas investment in Brazil in future years, there is high potential for an operator with the exceptional characteristics of Omni Brazil.”
Cdt. Rui Faria de Almeida, Executive Chairman and co-founder of Omni Helicopters International and Omni Brazil, said “What we have achieved to date is a testimony to the quality and motivation of our managers, pilots, mechanics and ground staff. This is an important day for our companies as we welcome new, like-minded partners to support us in our future expansion with capital and capabilities that are complementary to those of our talented team.”
Market diversification and excellent service quality have driven consistent growth and profitability
LONDON, 31 May, 2011 – Stirling Square Capital Partners (“Stirling Square”), the pan-European private equity firm, today announces that it has signed an agreement to sell its majority interest in Metroweb S.p.A. (“Metroweb” or the “Company”), the owner and manager of the fibre-optic network extending across the metropolitan area of Milan, to F2i, a leading Italian infrastructure fund.
Stirling Square acquired its stake in Metroweb in October 2006 from A2A S.p.A. (“A2A”) (Milan Bourse: A2), which retained a minority interest in the Company. Since then Stirling Square has worked closely with A2A and supported the management team in the delivery of Metroweb’s development plans. Under Stirling Square control, annual revenues and EBITDA have grown 25% and 50% respectively.
Metroweb provides dark fibre connectivity to telecoms operators, corporations, governmental institutions and digital and multimedia distributors. The Metroweb network covers a territory with more than 2.7 million inhabitants and consists of 7,254 km of cables, corresponding to approximately 324,000 km of fibre and 3,272 km of infrastructure and connections to business and residential sites.
Established in 1997 and headquartered in Milan, Italy, Metroweb owns, maintains and manages one of the largest metropolitan access fibre-optic networks in Europe. The management team is led by Chief Executive Officer Alberto Trondoli, a founder of the Company, and Moreno Grassi, Chief Operating Officer, who has been instrumental in developing the Company more recently. Shortly after Stirling Square invested in the Company in 2006, the management team was strengthened with the appointment of Mirko Prato as Chief Financial Officer.
Following Stirling Square’s acquisition, significant capital investment has increased the size of the network, moved access from the curb to the building (the ‘last mile’) and improved service quality. Milan now has the highest broadband penetration rates in Italy with 108,000 businesses (58%) and 342,000 residences (52%) accessing the network. As a result, the metropolitan area of Milan has the infrastructure in place to meet its broadband needs for the foreseeable future. With the phase out of Milan’s copper network targeted to begin before EXPO 2015, broadband access will be primarily supported by Metroweb’s fibre-optic network from then on.
Stefano Bonfiglio, a Partner at Stirling Square, said: “We are proud to have established Metroweb as an independent fibre infrastructure provider, delivering best-in-class technologies and services to its customers. The Company has grown to a position of strength over the past five years, which is testament to the dedication of the management team and to Stirling Square’s value creation drive.
Metroweb is highly representative of our core investment strategy which is to target companies with unique capabilities and long-term defensible market positions that offer potential for transformational change. Our gratitude goes to everyone we have worked with at Metroweb over the past few years; we wish them the very best for their future success.”
Alberto Trondoli, CEO of Metroweb, said: “Stirling Square has provided consistent and valuable support throughout their period of ownership. We have been able to invest in the network and diversify our product offering and customer base, improve coverage and service quality, and thereby position the Company for future success. I look forward to working with F2i to build upon the achievements of the past five years.”
Advisers to Stirling Square Capital Partners:
Financial: Lazard & Co. and Black Rhino Capital
Legal: Pavia e Ansaldo
Vendor Due Diligence Providers:
Legal: Pavia e Ansaldo
Tax: Studio Colacicco
Strategy of operational turnaround and increased investment has driven greater profitability
LONDON, 1 April, 2011 – Stirling Square Capital Partners (“Stirling Square”), the pan-European private equity firm, today announces that it has signed an agreement to sell Microtecnica S.r.l. (“Microtecnica” or the “Company”), the flight critical aerospace component and sub-system manufacturer, to Goodrich Corporation (NYSE:GR), a leading global supplier of systems and services to aerospace, defence and homeland security markets, subject to regulatory approvals.
Microtecnica is one of the world’s largest independent providers of highly engineered flight critical components to the global aerospace and defence market. The company designs and manufactures a range of components and sub-systems, primarily involved in flight actuation (the movement of flaps and other control surfaces), and thermal control systems for fixed wing and rotary aircraft.
Founded in Northern Italy in 1929, Microtecnica operates three facilities in Italy and an R&D office in the UK. At the time of the acquisition by Stirling Square, the management team, led by Chief Executive Alan Bean, was strengthened with a number key hires, including the appointment of Roberto Assereto as Chief Operating Officer and Roberto Hofmann as Chief Financial Officer.
Since Stirling Square acquired Microtecnica, annual capital expenditure was doubled and an extensive operational re-engineering programme was implemented, radically improving on-time delivery and positioning Microtecnica as a market leader for product quality and service levels. Annual R&D expenditure was also increased to levels well above that of prior years, resulting in a number of new programme wins, including the flap actuators for the next generation Mitsubishi Regional Jet and environmental control systems for the Saab Gripen Fighter Jet.
Under Stirling Square ownership Microtecnica revenue has grown 27% and EBITDA has trebled.
Stefano Bonfiglio, a Partner at Stirling Square, said: “We’re proud to have delivered impressive growth for Microtecnica, driven through investment in people, capex and R&D, to achieve the targeted levels of operational improvement. The company has grown to a position of strength over the past three years which is testament to the dedication of the management team and Stirling Square’s value creation expertise.
Microtecnica is highly representative of our core investment strategy which is to target companies with unique capabilities and long term defensible market positions that offer potential for transformational change. I’d like to thank everyone we’ve worked with at the business over the past few years and wish them the very best for future success.”
Alan Bean, CEO of Microtecnica, said: “Stirling Square has provided critical support, throughout the management buyout in 2008 and beyond. We have been able to invest in and change the company, resulting in improved operational performance, and positioning the company for success. I look forward to working with Goodrich to build on the achievements of the past three years.”
Advisers to Stirling Square Capital Partners:
Legal: Pavia e Ansaldo Studio Legale
Vendor Due Diligence Providers:
Legal: Pavia e Ansaldo Studio Legale
Tax: Studio Colacicco
Acquisition marks the European private equity investor’s fourth deal from its €375m second fund
Stirling Square Capital Partners (Stirling Square), the leading pan-European private equity firm, today announces the acquisition of Environmental Solutions Europe Holding B.V. (ESEH), a European leader in environmental products and services, from OTTO Group for an undisclosed amount. The acquisition is the fourth from Stirling Square’s second fund and follows the successful final close of the fund in March 2010.
Established in Germany over 75 years ago and part of a family-owned group, ESEH is one of the leading players in the design and manufacture of a range of waste containers and recycling systems and is active across Europe, the CIS, North Africa and the Middle East. ESEH’s products include a variety of two-wheel and four-wheel waste containers, collection banks and innovative underground waste collection systems. The company also provides logistics services such as the installation of container parks and the management of container data on behalf of municipalities. Its products provide municipalities and waste service companies across Europe with waste collection systems which facilitate hygienic and efficient waste collection and also drive the recycling of waste.
The group employs approximately 900 people and operates two main manufacturing sites, at Neuruppin in Germany and Crissey in France. In 2009, one of the strongest years in its history despite the economic downturn, ESEH generated sales of €230 million. The company has consolidated its leading position in the European waste container market in the last couple of years.
Stirling Square plans to grow ESEH through geographical expansion beyond the twenty countries in which it already operates, through the introduction of new products and the development of the services business, which currently represent approximately one third of ESEH’s sales.
Jakob Förschner, Partner at Stirling Square, says: "Environmental Solutions Europe is a perfect fit with Stirling Square’s investment strategy, which focuses on acquiring companies with European cross border activities, leading market positions and potential for transformational change and value creation. We are delighted to have completed the acquisition and look forward to supporting the existing management team around Karl-Heinz Heigl and Claudius Bensberg. We are also pleased that René Wolfkamp, CEO of a former Stirling Square portfolio company and an executive with twenty years of experience in the plastic packaging industry, has been appointed Chairman of ESEH and will work closely with the existing management in the development of the company going forward."
Karl-Heinz Heigl, Managing Director of ESEH, said: "Management and staff of ESEH are very positive about the future prospects for our Group. In the last 2 years we have successfully reviewed and improved our sales and services portfolio and strengthened our leading position in the market. We are very much looking forward to further developing the company together with our new shareholders."
Advisers to Stirling Square:
Augusta & Co - Financial
Clifford Chance - Legal
Ernst & Young - Financial, Commercial and Tax Due Diligenc
Stirling Square Capital Partners (Stirling Square), a leading pan-European private equity firm, is pleased to announce the appointments of Gideon Glassman and Enrico Biale as Executives.
Gideon Glassman joins from Fidelity Equity Partners (FEP), a $500m transatlantic mid-market fund affiliated with Fidelity, which invested in service, media and technology businesses. At FEP, Gideon covered the UK and Netherlands markets.
Prior to FEP, Gideon spent four years as a strategy consultant at Monitor Group where he worked on projects in Europe, Africa and India, across a range of sectors including industrials, consumer goods, financial services and telecommunications. He previously worked as an engineer.
Gideon holds an MBA from INSEAD in France and Singapore, and MA and MEng degrees in Engineering from Cambridge University. He speaks English, Dutch and German.
Enrico Biale’s most recent experience was working on the turnaround of Euroceanica, a London-based shipping group. Prior to that he was an associate in Goldman Sachs’ European Healthcare Group, where he worked on transactions in healthcare and pharmaceuticals. His previous experience includes Brera Capital Partners, a New York-based private equity firm, and Deloitte’s corporate finance team in Italy.
Enrico holds an economics degree from the University of Genoa and an MBA from Columbia Business School. He speaks English, Italian and Spanish.
Commenting on the appointments, Stefano Bonfiglio, Managing Partner, said: "We are very pleased to add new talent to our team. Both Gideon and Enrico have proven capabilities in complex, international transactions, which is exactly the experience required to succeed here. The pair will have significant roles to play at Stirling Square."
Gideon Glassman, said: "I am excited by the opportunity to build on my experience in the international mid-market. Stirling Square has a reputation for successfully delivering strong returns through their transformational, growth-focused cross-border deals. I look forward to contributing to the Stirling Square team"
Enrico Biale, said: "I was attracted to Stirling Square’s diverse international approach. I am looking forward to working for one of Europe’s leading mid-market investors at a particularly interesting time in the private equity industry."
Sicurglobal SpA ["Sicurglobal"], the leading provider in the Italian security service market, owned by pan-European private equity firm Stirling Square Capital Partners ["Stirling Square"], announces that it has acquired Mega Italia SpA ["MegaItalia"], Italy’s leading player in electronic security systems and associated technological services. The transaction complements Sicurglobal’s existing security services, which largely comprise the provision of armed guards.
Established in 1974 in Brescia (Italy), MegaItalia operates in the area of design, realization, and selling of multifunctional and integrated safety systems for the protection of people and assets. MegaItalia provides multifunctional and integrated security systems in Italy through 6 local branches and a network of 59 franchisees. Its products and services include alarm systems (anti-theft alarms, gas alarms, fire alarms, burglar alarms, etc.), control systems (building automation, alarm control centers, access control, money handling, etc.), video surveillance systems (CCTV, etc.) and 24-hour maintenance and assistance.
The deal is another major strategic step forward for Sicurglobal, which with the acquisition of MegaItalia will be able to offer comprehensive security service to the Italian market. The combined pro forma turnover is approximately €200 million.
As part of the agreement the shareholders of MegaItalia will become minority shareholders of Sicurglobal, and its management team will be integrated with that of Sicurglobal.
Francesco Simonelli, CEO at Sicurglobal, said:
"This is an important move for Sicurglobal as it cements our position as the market leaders. MegaItalia will give the business a broader range of integrated services for our customers. We are enthusiastic about the prospects for the combined business with its differentiated, high value -added, service offering and welcome MegaItalia’s outstanding and proven management team to contribute to our successful business formula."
Ivo Benedetti, CEO at MegaItalia, said:
"The owners and senior managers of MegaItalia were keen to identify an appropriate partner for our future growth, and in Sicurglobal we have found a business with fantastic synergies with our own company and a shared belief in the prospects for the combined group. Much of the proceeds from the sale have been reinvested in the equity of the newly enlarged company as we are keen to share in the success story ahead, alongside Stirling Square and the Sicurglobal management team."
Stefano Bonfiglio, partner at Stirling Square, said:
"We are delighted to have completed this acquisition in what has been a very difficult buy-out market. The deal underlines our strength in Italy and shows that we have the skills to take advantage of the right opportunities despite the obvious challenges the current environment presents."
Stirling Square has also backed the buyouts of three other Italian companies; Metroweb, Jeckerson and Microtecnica.
Legal advisers to Sicurglobal were Pavia e Ansaldo, and Ashurst.
Stirling Square Capital Partners ["Stirling Square"], the pan-European private equity firm, is pleased to announce the appointment of Christopher Black as Head of Finance.
Chris is a qualified chartered accountant and graduate in Business Management from King’s College, London. He joins from UBS AG, where he specialised in the financial control and administration of private equity funds and investments; managing the financial reporting division of the Bank’s global private equity business.
Christopher Black, head of finance, said: "I am excited by this new role, which is a superb opportunity to build on my experience managing the financial reporting of global private equity at a major bank. Stirling Square has a reputation for successfully delivering strong returns through their complex, cross-border deals. I look forward to contributing to the success of this excellent team."
Martin Calderbank, partner, said: "Chris has the ideal experience for the role and he will strengthen our dynamic team. Critically, Chris has in depth knowledge of the pan-European mid-market and he has a clear understanding of what our investors are looking for."
Stirling Square Capital Partners ["Stirling Square"], the pan-European private equity firm, today announces the buyout of Microtecnica ["the Company"], the flight critical aerospace component and sub-system manufacturer, from Hamilton Sundstrand, a subsidiary of United Technologies Corp. [NYSE: UTX] for an undisclosed amount.
Established in Northern Italy as a family business, Microtecnica designs and manufactures a range of flight critical aerospace components and sub-systems, primarily involved in flight actuation (the movement of flaps and other control surfaces), where it is a technology leader. Microtecnica operates three sites in Northern Italy and employs 686 people. In 2007, the Company generated sales of €124m.
Microtecnica has a well balanced portfolio of civilian and military programmes (50:50 split) and is present on fixed-wing, rotary aircraft and other platforms including spacecraft and missiles. Microtecnica supplies to a highly diversified customer base, including Hamilton Sundstrand, Avio, Alenia, Bombardier, Airbus and AugustaWestland.
Stirling Square will support the existing management team led by CEO Alan Bean in consolidating Microtecnica’s relationships with Italian and European defence contractors and continuing to drive further growth beyond Europe.
Microtecnica is highly representative of Stirling Square’s core investment strategy which is to target companies with unique capabilities and long term defensible market positions that offer potential for further operational improvement and growth. Stirling Square intends to invest in further developing Microtecnica’s core technology and in supporting international growth.
The acquisition follows Stirling Square’s string of successful pan-European, complex mid-market transactions, including the investment and subsequent sale of Global Design Technologies (also an aerospace company) in May 2007 for $343m, the sale of Schoeller Arca Systems for €428m in July 2007. The sale of GDT was named ’France and Benelux Deal of the Year’ at the EVCA Private Equity Awards held in Barcelona in December 2007.
The transaction is Stirling Square’s third investment in 2008 following the acquisitions of Sicurglobal, the largest player in the Italian security service market, in May 2008 and Jeckerson, the global premium leisurewear brand, in June 2008.
Martin Calderbank, a partner at Stirling Square, said:
"This is a classic investment for Stirling Square and plays to our core strengths of backing first rate management teams who are committed to transformative operational improvement. It is a privilege to be backing Alan Bean, an excellent manager we have known for a long time. Stirling Square is committed to helping the company continue its expansion beyond Europe and we look forward to being a part of Microtecnica’s continued success".
Stefano Bonfiglio, a partner at Stirling Square, added:
"Microtecnica is a leading company in its specialist market which is well placed to benefit from international growth opportunities. The company has an impressive focus on key relationships with defence and aerospace manufacturers - an essential feature of long-term success in the aerospace component sector. We have been particularly impressed by the quality of Microtecnica’s management and have great confidence in them. We’re excited about making our own contribution to this success story."
Alan Bean, Managing Director of Microtecnica, said:
"Microtecnica has become a leading supplier of Actuation and Environmental Control Systems as a part of Hamilton Sundstrand. This announcement marks the beginning of another exciting chapter in the history of Microtecnica. Stirling Square is hugely experienced in working with companies to move them on to the next stage of growth and has experience in our sector. We look forward to an exciting future as an independent company and market leader."
Stirling Square Capital Partners (“SSCP”), the pan-European private equity firm, and Sirius Equity (“Sirius”), the retail and branded luxury goods investment specialist, announced today that they have signed an agreement to acquire Jeckerson (www.jeckerson.com), the Italian premium sportswear brand, from Blue Fashion Group.
The management buy-out values Jeckerson’s enterprise and equity at €140m and €125m, respectively, and marks the end of a 5-month competitive process run by Corporate Value of Marco Colacicco. Interbanca and MPS Capital Services acted as joint debt underwriters in the transaction.
Established in 1995, Bologna-based Jeckerson is a leading brand in Italy’s sportswear segment and the market leader in men’s premium trousers. The iconic Jeckerson trousers are sold in 600 independent multi-brand retailers throughout Italy. The company’s policy of highly selective distribution ensures that its products are only sold in partner stores which serve consumers with the extended Jeckerson range.
Over the past four years, Jeckerson has outperformed the broader Italian apparel market. This has been driven by its distinctive design, construction and fit, consistent quality and a loyal customer base that has led retailers to experience best-practice sell-through in excess of 90%. The company has recently launched a strategy of international growth focussed on selected export markets.
SSCP and Sirius are backing the existing management team led by Gianni Cantarelli in a two-pronged plan focussed on continuing brand extension in Italy and new sales development internationally. Jeckerson will also enhance its recognition through an increase in its marketing and advertising activity and develop its own retail presence selectively.
SSCP sourced and structured the transaction and has taken majority control of Jeckerson. Robert Bensoussan, founder of Sirius and most recently CEO of Jimmy Choo, will be non-executive chairman of Jeckerson. Beside SSCP and Sirius, a subsidiary of Goldman Sachs International has also invested in the transaction. Massimo Piombini, Vice President Global Sales of the Bally Group, will join the Board of Directors of Jeckerson.
Gregorio Napoleone, who led the transaction for SSCP, said: “We are delighted to partner with the Jeckerson team and support them in their next phase of development. We look forward to working with Jeckerson’s entrepreneurial management on the transformation of this business from Italian champion to international leader”.
Robert Bensoussan said: “We have been impressed by the performance of Jeckerson and believe it has a strong base on which to build further market, channel and category expansion. We are excited about working with the management team, contributing our vision and experience towards the realization of the development plan”.
Gianni Cantarelli, CEO of Jeckerson, said: “With the active support of our new shareholders and directors, we expect Jeckerson to quickly mature into a more established international player while continuing to outperform its reference markets. This transaction provides a unique strategic fit for our company at this juncture”.
Stirling Square was advised by Eidos Partners, Pavia e Ansaldo (corporate) and Clifford Chance (banking).
Sirius and Goldman Sachs International were advised by Travers Smith and Gianni, Origoni e Partners.
Interbanca and MPS Capital were advised by DLA Piper.
Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that it has signed an agreement to acquire Sicurglobal, the largest player in the Italian security service market, from BS Private Equity. The transaction value is not disclosed.
Sicurglobal, which is headquartered in Milan, is the combination of several local operators, some of which have been active in the Italian security services market for up to 90 years. Sicurglobal currently operates in 21 provinces in Italy’s Northern and Central regions, deploying over 2,600 armed guards, 700 vehicles and 23 monitoring centres.
The company’s activities encompass a wide range of surveillance services, which are grouped into three areas: patrolling and alarm monitoring, guarding, and cash handling. The Group recently widened its service scope into complementary, high value-added services such as satellite telesecurity and security systems integration and consulting.
Sicurglobal has a diversified customer base accounting for more than 75,000 customers or 100,000 users, ranging from residential customers to large businesses such as corporations, banks and public administration organisations. The company reported a consolidated turnover of EUR 165m in 2007 and has a strong track record in successful acquisitions.
Stirling Square will support the existing management team led by CEO Francesco Simonelli in consolidating Sicurglobal’s market leading position and driving further growth. Sicurglobal is highly representative of Stirling Square’s investment strategy which is to target companies that offer potential for further operational improvement and market consolidation through acquisitions.
The acquisition follows Stirling Square’s string of successful pan-European, complex mid-market transactions, including the investment and subsequent sale of Global Design Technologies in May 2007 for $343m, and the sale of Schoeller Arca Systems for €428m in July 2007. The sale of GDT was named ‘France and Benelux Deal of the Year’ at the EVCA Private Equity Awards held in Barcelona in December 2007.
Stefano Bonfiglio, who coordinated the investment on behalf of Stirling Square Capital Partners, said:
“We are delighted to partner with Sicurglobal, a leading company in its market which has seen rapid growth and consistently delivered one of the highest profit margins in the sector. We have been particularly impressed by the quality of Sicurglobal’s management and their ability to adapt quickly to market and client needs, which are essential components for long-term success in this industry. This acquisition highlights one of Stirling Square’s key investment strategies of building growth through market consolidation and operational expansion”.
Francesco Simonelli, CEO of Sicurglobal, said:
“With Stirling Square’s active support, Sicurglobal’s management team will continue to expand successfully in its markets. This acquisition comes at a time of extensive opportunities due to recent regulatory changes and high pent up demand for security services”.
Stirling Square Capital Partners [“Stirling Square”], la società pan europea di private equity, ha oggi annunciato di aver siglato un accordo per l’acquisizione da BS Private Equity di Sicurglobal, la società leader in Italia nella fornitura di servizi integrati di sicurezza e vigilanza. Il valore della transazione non è stato reso noto.
Sicurglobal, con sede a Milano, è nata dall’unione di diversi operatori locali, alcuni dei quali sono attivi nel settore italiano dei servizi di sicurezza e vigilanza da 90 anni. Sicurglobal attualmente opera in 21 province dell’Italia settentrionale e centrale, avendo a disposizione oltre 2600 guardie armate, 700 veicoli e 22 centri di monitoraggio.
Le attività della società comprendono un’ampia gamma di servizi di sorveglianza suddivisi in tre aree: pattugliamento e monitoraggio allarmi, piantonamento e trasporto valori. Il gruppo ha recentemente ampliato i propri servizi aggiungendo servizi complementari ad alto valore aggiunto quali tele-sicurezza satellitare e servizi di sicurezza integrati e di consulenza.
Sicurglobal gestisce una clientela diversificata di oltre 75.000 clienti o 100.000 utenti, comprendendo sia clienti privati sia clienti business come grandi aziende, banche ed enti pubblici. La società ha dichiarato un fatturato consolidato di 165 milioni di Euro nel 2007 e ha portato a termine una serie di acquisizioni di successo.
Stirling Square affiancherà il management attuale guidato dall’Amministratore Delegato Francesco Simonelli al fine di consolidare la posizione di leader di settore di Sicurglobal e di favorire un’ulteriore crescita. Sicurglobal si colloca perfettamente nella strategia di SSCP, la quale si focalizza su società che possono beneficiare sia da un miglioramento operativo sia da un consolidamento del settore.
L’acquisizione segue una serie di transazioni complesse di successo nel mid-market pan europeo, incluse l’acquisizione e la successiva vendita di Global Design Technologies a maggio 2007 per un corrispettivo di 343 milioni di Dollari e la vendita di Schoeller Arca Systems per 428 milioni di Euro a luglio 2007. La vendita di GDT è stata nominata “France and Benelux Deal of the Year” al EVCA Private Equity Awards tenutosi a Barcellona a dicembre 2007.
Stefano Bonfiglio, che ha coordinato l’investimento per conto di Stirling Square Capital Partners, ha dichiarato:
«Siamo soddisfatti di essere diventati partner di Sicurglobal, una società leader nel suo mercato che ha visto una rapida crescita e ha costantemente ottenuto tra i più alti margini di profitto del settore. Siamo rimasti particolarmente colpiti dalla qualità del management di Sicurglobal e dalla loro abilità nell’adattarsi rapidamente al mercato e ai bisogni del cliente, elementi essenziali per il successo a lungo termine in questo settore. Questa acquisizione evidenzia una delle strategie di investimento chiave di Stirling Square che vuol creare valore attraverso l’espansione operativa e il consolidamento di mercato».
Francesco Simonelli, Amministratore Delegato di Sicurglobal, ha dichiarato:
«Con il supporto attivo di Stirling Square, il management di Sicurglobal continuerà ad espandersi con successo nel proprio settore. Questa acquisizione arriva in un momento di grandi opportunità grazie ai recenti cambiamenti normativi e alla domanda latente di servizi di sicurezza».
London – 30th January 2008: Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announced the appointment of Julien Horreard as Executive.
The appointment follows Stirling Square’s string of successful pan-European, complex mid-market transactions, including the investment and subsequent sale of Global Design Technologies in May 2007 for $343m, and the sale of Schoeller Arca Systems for €428m in July 2007. The sale of GDT was named ‘France and Benelux Deal of the Year’ at the EVCA Private Equity Awards held in Barcelona in December 2007.
From July 2004 to December 2007 Julien Horreard worked in the M&A team at UBS Investment Bank in London, where he was promoted to Associate in July 2007. There, he advised on a number of transactions including AS Watson’s $1bn cash offer on Marionnaud, the £200m sale of Cory to Montagu, the $9bn disposal of PacifiCorp by ScottishPower, the €9bn acquisition of ASF by Vinci and the €900m IPO of Rezidor.
Prior to UBS, he worked from April 2003 to June 2004 as a Junior Analyst within the Leveraged Finance team at BNP Paribas in New York, and from August 2001 to July 2002 served an internship within the Investment Banking department of JP Morgan in Paris.
Martin Calderbank, Partner, said: “I am delighted to welcome Julien Horreard to the Stirling Square team. His arrival consolidates our international capabilities, with 50% of the deal team now Francophone. Julien will be working alongside Stirling Square’s senior partners to ensure that our reputation for the successful execution of high value, complex mid-market transactions continues to be strengthened.”
Commenting on his appointment, Julien Horreard said: “I am excited to be joining Stirling Square and I look forward to working with the team to strengthen its position as one of Europe’s leading mid-market private equity investors”.
London – 22 November, 2007: Stirling Square Capital Partners, the pan-European private equity firm has been awarded ‘France and Benelux Deal of the Year’ - for its sale of Global Design Technologies - at the EVCA Private Equity Awards, in Barcelona.
The award, judged by a distinguished panel of industry experts, recognised Stirling Square’s investment and subsequent sale to Bridgepoint in May 2007 for $343m, as an outstanding example of operational improvement and return on investment.
Martin Calderbank, Partner, said: “I am delighted to receive this award which recognises that this was a complex international investment, executed successfully to yield excellent returns. This has been a very successful investment for us. We worked with a top quality management team to implement a long-term growth strategy, while driving operational improvements yielding cash flow and profit generation. This deal is a classic example of our work, a complex, cross border transaction; successfully integrating businesses to create an industry leader.”
GDT was created through the simultaneous management buyouts of Permaswage of France and Deutsch Metal Components of the US, by Stirling Square in January 2005 at a total enterprise value of $125m. Consolidation of the two businesses created a global industry leader.
Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that it has signed an agreement to sell its controlling stake in Schoeller Arca Systems to One Equity Partners at an enterprise value of €428m. The founding family Schoeller and management will keep their respective stakes. The deal is the second exit for Stirling Square in the last two months following the $343m sale of Global Design Technologies in May.
Schoeller Arca Systems is the global market leader in rigid plastic packaging systems for materials handling. Headquartered in the Netherlands, the company manufactures a broad range of plastic materials-handling products including foldable large containers, intermediate bulk containers, large boxes, pallets, crates and trays for beverages, returnable plastic containers and UN certified pails.
In August 2003 Stirling Square acquired a controlling stake in Schoeller Wavin Systems for €143m from the Schoeller family, who had founded the original business. Schoeller Arca Systems was then created through the acquisition by Schoeller Wavin Systems of Swedish company Arca Systems in February 2005.
As a complex international investment, Schoeller Arca Systems is highly representative of Stirling Square’s strategy of targeting companies that offer potential for operational improvement, growth and profitability through international expansion and cross-border merger activity.
Under Stirling Square’s ownership, Schoeller Arca Systems has enjoyed strong and consistent sales growth and operating profit performance. During the past four years Stirling Square, the management team and the Schoeller family have worked together to invest in new production technology, reconfigure the manufacturing footprint, develop new products, penetrate new markets and divest non-core divisions, thereby transforming the company into a focused global leader.
As a result, revenues have increased from €165m in 2002 to €465m during the last twelve months ending May 2007 and the number of employees from 763 at the end of 2002 to 1,416 today. As a minority shareholder the founding Schoeller family has therefore participated in significant value creation and is rolling over its minority stake in a now much larger business.
Stefano Bonfiglio, who led the investment and exit on behalf of Stirling Square Capital Partners, said:
“During our ownership we have worked with a strong management team to create a genuine global leader. This is Stirling Square’s second exit in as many months and again showcases the type of deals for which we are building a reputation - a complex, cross border transaction, successfully integrating businesses to create an industry leader. We wish the Schoeller Arca team continued success under new ownership.”
Rene Wolfkamp, CEO of Schoeller Arca Systems, said:
“This is a terrific deal for the company and everybody involved. It marks the completion of a successful four years under Stirling Square’s ownership, during which the business has been significantly transformed for the better. Together with One Equity Partners and the Schoeller family, we are excited to be embarking on the next phase of industry consolidation”
Advisers to Stirling Square Capital Partners
Financial: JP Morgan
Legal: Clifford Chance
London, 30 June 2007, Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that its portfolio company 3SI Security Systems [3SI], the world’s leading manufacturer of electronic security systems for cash protection, has signed an agreement with IBP France [“IBP”] for the acquisition of its operations.
IBP France, created in 1993, specialises in the distribution of innovative security systems for financial institutions. This strategic acquisition confirms 3SI’s market leadership in France of smoke and dye security systems and strengthens the installed base with approximately 1.000 SmokeNote installations. As part of the transaction 3 executives will join 3SI.
3SI is the world leader in electronic cash protection solutions, supplying 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe. The company has offices and headquarters in the US and Europe.
Stirling Square has supported the 3SI management team in pursuing its strategy to enhance product offering and the geographical exposure of its business. The acquisition of IBP reinforces 3SI’s market leadership, strengthens its presence in Europe and further improves the firm’s ability to deliver on client needs.
Bolaji Odunsi, Partner at Stirling Square said: “This is the second acquisition made by 3SI this year. We see great potential for the combined business and will continue to provide strategic input and capital in order to ensure 3SI continues to grow under Stirling Square’s ownership.”
Thomas Oxenfeld, CEO, of the combined business said: “We are looking forward to working with Jacques Gallais, CEO, IBP France and his team to build on our respective successes to date and continue to serve our clients’ needs. In partnership with Stirling, we have been able to source yet another intelligent acquisition to move the business forward.”
Jacques Gallais, said: “We are excited that we will be able to expand our market presence through the 3SI distribution network and cross sell respective products. This transaction allows 3SI access to our market leading position in France and I look forward to together accelerating the development of new and innovative products and driving international growth.”
London, 15 June 2007, Stirling Square Capital Partners [“Stirling Square”], the pan- European private equity firm, today announces that its portfolio company 3SI Security Systems [3SI], the world’s leading manufacturer of electronic security systems for cash protection, has completed a deal to acquire ECA Horst Kriechbaum (ECA). The combined business will trade as 3SI.
ECA, headquartered in Klosterneuburg, Austria, is a leading European provider of bank security solutions. The company’s main products are cash degradation systems (SmokeNote and AsTec3), as well as SMS data transmission technology. The company was founded in 1988, employs 10 people and has distribution agreements in 13 European countries.
3SI is the world leader in electronic cash protection solutions, supplying 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe. The company has offices and headquarters in the US and Europe and employs 185 people.
Stirling Square is keen to support 3SI in pursuing its strategy to enhance product offering and the geographical exposure of its business. The acquisition of ECA will reinforce 3SI’s market leadership, strengthen its presence in Europe and further improve the firm’s ability to deliver on client needs.
Bolaji Odunsi, Partner at Stirling Square said: “Both businesses have strong client bases and enviable patented and proprietary products. We see great potential for the combined business and will continue to provide strategic input, capital and access to Stirling Square’s network of contacts to ensure 3SI continues to grow under our ownership.”
Thomas Oxenfeld, CEO, of the combined business said: “We are looking forward to working with Horst and his team to build on our respective successes to date and continue to serve our clients’ needs through the provision of effective solutions. In partnership with Stirling, we have been able to source an intelligent acquisition to move the business forward.”
Horst Kriechbaum, CEO, ECA said: “3SI has established an excellent reputation in the security market and is a clear market leader. We are excited that we will be able to expand our market presence through the 3SI distribution network and cross sell respective products. This transaction will allow 3SI to accelerate the development of new and innovative products and grow the business internationally.”
Stirling Square Capital Partners [“Stirling Square”] the pan-European private equity firm, today announces that it has signed an agreement to sell Global Design Technologies LLC [“GDT” or “the Company”] to Bridgepoint for $343m. GDT is the leading international manufacturer of swaged permanent coupling systems for rigid tubing and pipes used in the aerospace, defence and power markets, operating from sites in France (at Les Clayessous- Bois, south west of Paris) and the US (Gardena, near Los Angeles).
GDT was created through the simultaneous management buyouts of Permaswage of France and Deutsch Metal Components of the US, by Stirling Square in January 2005 at a total enterprise value of $125m. Consolidation of the two businesses has created a global industry leader.
As a complex international investment, GDT is highly representative of SSCP’s strategy. The group aims to target companies that offer potential for operational improvement and build growth and profitability through international expansion and cross border merger activity.
Under Stirling Square’s ownership, GDT has enjoyed strong and consistent sales growth and operating profit performance, a reflection of the diversification of revenue stream created by consolidation and rapid market share growth. The company has also benefited from significant capital investment and as a result revenues have increased from approximately $61m year ended 2003 to approximately $93m in 2006 and the number of employees from 437 in 2005 to over 630 today.
GDT holds a market leading position in the global permanent couplings systems market. Whilst aerospace has been the company’s main sector, it has also been successful in developing new systems for different applications, becoming the first and only company to have developed swaged fittings for US power substations.
Martin Calderbank, who coordinated the investment and exit on behalf of Stirling Square Capital Partners, said: “This has been a very successful investment for us. We have worked with a top quality management team to implement a long-term growth strategy, while driving operational improvements yielding cash flow and profit generation. This deal is a classic example of our work, a complex, cross border transaction; successfully integrating businesses to create an industry leader. We wish the team continued success under new ownership.”
Angelo Farro, CEO of GDT, said: “With Stirling Square’s active support, GDT’s management team has been able to create a more diverse, industry leading business. The professional experience of the Stirling Square partners together with financial backing has enabled us to improve perfomance and given us a foundation to grow. We have greatly valued their support and advice.”
Ahmad Diba will take over from Angelo Farro as CEO of GDT upon completion.
L’intesa a alla base del progetto di Telecom Italia grazie a! quale saranno collegati in fibra ottica 70.000 edifici nella citta di Milano e in alcune aree limitrofe e rientra nella strategia di sviluppo delta rete di nuova generazione
Milano, 30 maggio 2007 - Telecom Italia ha siglato un accordo con Metroweb per lo sviluppo della rete in fibra ottica sul territorio di Milano. Grazie all’accordo Telecom Italia raggiungera 70.000 edifici avvalendosi anche dell’infrastruttura di rete di Metroweb.
II contratto, the prevede investimenti per circa 50 milioni di Euro e it diritto d’uso dell’infrastruttura per 15 anni (rinnovabile per ulteriori 15) si inserisce net progetto di sviluppo della rete di nuova generazione a banda larga (NGN2) di Telecom Italia, it cui piano, avviato a partire dalla citta di Milano, prevede la copertura progressiva della popolazione sul territorio nazionale.
In particolare, in base all’accordo, Telecom Italia potra utilizzare oltre alle proprie infrastrutture anche quelle in fibra ottica messe a disposizione da Metroweb per la realizzazione di una rete di apparati posti all’interno degli edifici che consentira l’accesso ultra broadband VDSL2 con una capacity trasmissiva fino a 50 megabits in grado di supportare l’offerta di servizi evoluti.
L’intesa siglata con Metroweb, che dispone gia di una estesa e capillare rete di cavi ottici su tutto it territorio di Milano, consentira a Telecom Italia di ridurre i tempi di realizzazione degli impianti, limitare al minimo 1’impatto delle opere civili e valorizzare al massimo I’investimento,
Relazioni con i Media - Mercato
London, 18 February 2007 - Stirling Square Capital Partners ("SSCP"), Diamond Castle Holdings ("DOH") and Seton I-Iouse Acquisition Ltd ("Seton House") are pleased to announce that they have signed a definitive agreement regarding the sale by Seton House of the international highway safety solutions business Public Safety Equipment ("PSE") to funds managed by SSCP and DCHFinancial terms of the transaction were not disclosed.
PSE designs, assembles and markets a broad range of branded electronic systems and solutions to support police forces and other emergency services, including traffic enforcement, in-car video, speed measurement and emergency lighting products The company employs nearly 800 people and operates from four principal locations in the US and the UK, with additional sales and marketing operations in Europe and Australasia.
The management team of PSE, led by David Smith, is fully committed to the future of the company, and will invest alongside the equity sponsors to align their interests with those of the company and its investors going forward
SSCP manages a $280 million fund whose cornerstone investor is Citigroup. SSCP and the fund it advises seek to invest in European transactions with enterprise value of between E50-500 million from a wide spectrum of industries. Investment focus is on companies which exhibit proven business models, market leadership, cross-border development potential, and talented management teams capable of executing clearly defined value-creation strategies.
DCH is a New York-based private equity investment fire that invests across a wide range of industries, with particular focus on the energy and power, financial services, media and communications, and healthcare sectors. DCH has $1 85 billion of committed capital under management.
Seton House (formerly Britax Group) and its shareholders were advised by Lazard & Co., Limited and Macfarlanes SSCP was advised by Dechert. DCI-I was advised by Weil, Gotshal & Manges. Completion of the transaction is expected in April 2007.
"This acquisition is in line with our stated objective to invest in companies with strong management and a proven record of success We see great development potential for the company and look forward to working closely with the management team to take PSE into its next phase of growth "
Daniel Clare, principal at DCH, said:
"We are pleased to be partnering with PSE’s management team and SSCP to continue to grow PSE into a market leader in its core segments."
David Smith, Chief Executive of PSE, said:
"The acquisition by SSCP and DCF I marks the next step in PSE’s development and is a strong affirmation of our ongoing growth prospects. We are looking forward to working closely with our new partners to deliver on our robust business pipeline in the future, We would like to take this opportunity to thank Seton House for its continued support over the past five years "
Alan Bowkett, Chairman of Seton House, added:
"PSE has been an excellent business for us and has developed strongly over the last few years Proceeds from the disposal will be used to pay down existing debt and invest further in our rapidly growing aerospace business. We would like to thank the PSE management team for all their efforts and wish them continued success in the future "
London / Milan, 3rd August 2006. Stirling Square Capital Partners (“Stirling Square”), the pan-European private equity firm, is pleased to announce that it has executed a definitive agreement to acquire Metroweb S.p.A. (“Metroweb” or the “Company”) from Milan-based utility AEM S.p.A. (Milan Stock Exchange: AEM). Stirling Square is backing a team of experienced telecom managers in the MBI of Metroweb, which is valued in excess of €230 million. AEM will retain a 23.5% stake in the business.
Metroweb is a 3,200 km fibre optics network spanning every street in Metro Milan and selected backbone routes throughout Northern Italy. The Company rents its network to telecom operators that offer services to retail clients and corporations that require infrastructure for their captive telecommunication needs. Metroweb’s network was largely built between 1998 and 2004, and results from a joint venture between AEM and e.Biscom S.p.A., the predecessor of Fastweb S.p.A. (Milan Stock Exchange: FWB). AEM acquired 100% of Metroweb in 2003 as part of its exit from the joint venture with FWB; the latter remains Metroweb’s largest customer. On 31st December 2005 Metroweb employed 28 people.
The MBI Team is led by Alberto Trondoli and consists of former senior managers of both FWB and Metroweb who are very familiar with the Company’s business and the international telecoms sector at large. The MBI Team plans to capitalize on their knowledge of current ICT trends and expand Metroweb’s potential by targeting new user segments whilst ensuring seamless service continuity for existing customers. The MBI Team also plans to enhance the value of Metroweb’s network to the Milanese community, with product offerings targeted at private and public bodies that provide services of public utility.
Stefano Bonfiglio and Gregorio Napoleone, partners at Stirling Square, said, “We are enthusiastic at the prospects of partnering with AEM, the MBI Team and Metroweb’s stakeholders, with a view to steering the Company through its next phase of development. We look forward to contributing new entrepreneurial spirit to Metroweb and participate to the technological upgrading of Milan, the city where we were both raised. This deal is a classic example of the situations that Stirling Square targets for investment, where we can combine local and international perspectives to value creation.”
Alberto Trondoli, future CEO of Metroweb, added, “I am delighted to be re-joining Metroweb, a business with which I have had a close involvement over the years. The telecoms industry in Italy has been growing at a healthy pace over the last decade and is expected to continue to grow due to increasing demand for voice, data, internet and other interactive services. We see great development opportunities in the future for a pro-active Metroweb.”
The transaction is being financed by ING Bank NV. Stirling Square has been assisted by law firms Pavia & Ansaldo and Clifford Chance, AEM by Chiomenti Studio Legale, and ING by Ashurst.
London, March 2006, Stirling Square Capital Partners (“Stirling Square”), the pan-European private equity firm announces that it has backed the buyout of 3SI Security Systems (“3SI”) from American Capital Strategies Ltd. (Nasdaq: ACAS).
3SI is the world’s leading manufacturer of electronic security systems for cash protection. The company’s innovative products and solutions offer protection against bank robberies; cash in transit raids and ATM thefts. About 90 of the top 100 banks in the USA and half of the top 50 banks in Europe use 3SI security solutions. The company’s main products incorporate state-of-the-art smoke and ink technology, GPS-based tracking systems and DNA Tagging systems. The company has offices and headquarters in the US and Europe and employs 165 people.
3SI’s management team, headed by CEO Thomas Oxenfeld, plan to grow its customer base in Europe and the US and enter new markets. Stirling Square will support 3SI’s new product innovation programme and international growth though its strategic input, provision of capital and access to its network of contacts.
Bolaji Odunsi , Partner at Stirling Square said, “3SI has an experienced and dynamic management team, strong customer relationships and an extensive line of patented and proprietary products. We see great opportunities for the company in Europe and further afield.”
Martin Calderbank, Partner at Stirling Square commented “We look forward to working with Tom and his team to capitalise on the opportunities ahead, in particular backing new product development and international growth. This deal is a classic example of the investments Stirling Square makes, buying and building proven market leaders”
Thomas Oxenfeld, CEO of 3SI added, “3SI has established an excellent reputation in the security market and is a clear market leader. We have a strong portfolio of products and are continually introducing new and effective solutions to stay ahead of crime. I am excited about working together with Stirling Square in ensuring the next stage in 3SI’s growth”
“American Capital is gratified to have assisted in the growth of 3SI at the board level during our investment,” said American Capital Managing Director Frank Do. “We enjoyed working along side such a high caliber management team and wish them and Stirling Square all the best in the future.”
3SI were advised by James Frommelt of Goldsmith-Agio-Helms.
London, 14 February 2006, Stirling Square Capital Partners ("Stirling Square"), the pan-European private equity firm announces that it has backed the buyout of Whittan Storage Systems ("Whittan") from funds advised by Permira. Total funding for the transaction is approximately £90 million.
Whittan is one of the leading European suppliers of storage solutions and the established market leader in the UK. Whittan sells, markets and distributes three core products, pallet racking, shelving and lockers to a wide range of customers. It trades under a number of well established brands including: Link51, Permar, Polypal and Moresecure. It has manufacturing facilities in the UK, Spain and Belgium and its own sales and distribution operations in these countries plus France, Germany and Holland. It employs nearly 1000 staff In 2005, Whittan had sales of approximately € 200 million.
Whittan’s management team, headed by CEO, Andrew Butler, will aim to grow market share in the Continental Europe markets both organically and through acquisition, in addition to maximising cross-selling opportunities via the current European distribution platform. European sales currently account for 40% of Whittan’s turnover. Whittan will also look to grow its presence in the archiving and leisure markets, which demonstrate strong growth potential.
Martin Calderbank, Partner at Stirling Square commented, "With excellent products and a high level of service, Whittan has become the market leader in the UK. We see great opportunities for the company in Europe. We look forward to working with Andrew and his team to capitalise on these opportunities. This deal is a classic example of the investments Stirling Square makes, buying regional champions and building them into European and global leaders",
Andrew Butler, CEO of Whittan added, "Whittan has been in business for over 50 years and established an excellent reputation in the storage systems market. We have a strong portfolio and a number of new and interesting products.. I am excited about working together with Stirling Square in ensuring the next stage in Whittan’s growth"
Permira were advised by Ian Williams of RW Baird
Saurer AG, the world’s second-biggest maker of spinning machines, sold its Ionbond coatings unit to Stirling Square Capital Partners as part of a plan to focus on its textiles operations.
The Ionbond unit, which sells coatings for tools and machine parts, has sales of about 50 million euros ($61 million) and 350 employees. It was sold for 110 million euros, Arbon, Switzerland- based Saurer said in an e-mailed statement.
Saurer said April 22 it expects profit to rise this year after demand in the natural fiber business boosted first-quarter orders 40 percent to 474 million euros.
Stirling Square Capital is a private equity fund, the Saurer statement said. Ionbond has factories in the U.S., Canada, Switzerland, the U.K., Singapore and Thailand, all of which will be kept open, Saurer said.
London, 29 September 2003, Stirling Square Capital Partners ("Stirling Square"), the pan-European private equity firm, is pleased to announce that it has taken control of Netherlands-based Schoeller Wavin Systems N.V. ("SWS") in a €145 million leveraged recapitalisation.
SWS is Europe’s leading designer and manufacturer’ of returnable plastic packaging solutions for enhanced logistics in storage, transport and display.. Typical products include crates, boxes, pallets and dollies for the food, beverage, chemical and retail industries. The company, formed from the merger of German I Swiss Schoeller Plast Group and the Dutch Wavin Trepak Group in 1999, is a clear market leader with a truly global client base including Heineken, Beck’s, Coca Cola, Pepsi Cola, Metro, Deutsche Post, Exxon and Dupont.. SWS has a turnover of c.. €200 million, 13 production facilities in Europe and the United States, and own subsidiaries and licensed partners in 36 countries around the world.
The transaction originated as a result of the Schoeller family’s desire to monetize a portion of their investment in SWS and provide an exit for JP Morgan Partners, a minority investor in the company. By selling a controlling interest to Stirling Square, the Schoeller family achieved their objective of retaining an interest in SWS, releasing funds for other entrepreneurial activities and involving, a partner that could support its ongoing expansion.
On the back of the equity investment of Stirling Square, the company has been able to raise a new long-term debt package, partially utilized to refinance existing debt. This was placed by Augusta Finance acting as advisor to Stirling Square, with NIB Capital Bank N.V. as underwriter and lead mandated arranger.
Stefano Bonfiglio, a partner of Stirling Square, said: "Schoeller Wavin Systems has a very strong business model and leading market position and will benefit from the growth and consolidation of the European packaging industry. We look forward to working with the management team and founding family in identifying and. capitalising on future opportunities." Jakob Farschner, another partner of Stirling Square, added "the deal is a good example of the investments we aim for, working with family owners in Europe to buy into companies with strong market positions and capable management teams, adding value by supporting the expansion of their successful businesses on a pan-European basis."
Martin Schoeller, Chairman of SWS, said: "Stirling Square’s backing and the new debt finance will help us continue to build on the class-leading logistics packaging market positions we currently hold and enable us to expand into targeted niche positions in other material handling and recycling services applications. The deal has been a great solution for all parties involved."
London, October 14, 2002 - Stirling Square Capital Partners (the pan-European private equity firm) is pleased to announce a $250m cornerstone commitment from Citigroup in its debut fund, targeting European mid-market transactions.
Stirling Square Capital Partners is a specialist mid-market private equity firm with strong local European expertise. The six partners bring a combined 50 years experience of operating in local private equity markets across Europe, with particular strengths in Germany, Italy, Scandinavia, the United Kingdom and France.
Stirling Square Capital Partners pursues private equity investments in European companies with enterprise values in the €50m-500m range.. Target companies are typically sector leaders with international aspirations, have defensible competitive advantage and talented management capable of executing a clearly defined value-creation strategy.
Jakob Forschner, a partner at Stirling Square Capital Partners, said "Our partners are predominantly nationals of the markets in which they operate and bring strong local market knowledge. Our mix of nationalities also enables us to see cross-border opportunities from an international perspective. Citigroup’s commitment will enable us to realise our goal of building local champions into international players. Whilst we intend in due course to raise additional sums from further sources we are actively pursuing investments at present."