H.I.G. Capital Announces Sale of Acqua & Sapone to TDR Capital
25 Junio 2024 - 11:00PM
Business Wire
H.I.G. Capital (“H.I.G.”), a leading global alternative
investment firm with $64 billion of capital under management, is
pleased to announce that an affiliate has signed a definitive
agreement to sell its portfolio company Acqua & Sapone (the
“Company”) to funds managed by TDR Capital LLP (“TDR”), a leading
European private equity firm. H.I.G. and the Barbarossa family will
retain a significant equity stake in the Company. The transaction
is subject to clearance by antitrust authorities.
The Company generates over €1.1 billion in annual revenues and
is Italy’s leading non-food discount retailer, selling a wide range
of household and personal care products at value prices through a
network of over 700 retail locations.
Stefano Giambelli, Managing Director, and Markus Noe-Nordberg,
Managing Director and Head of the H.I.G. European Middle Market LBO
team, commented: “Acqua & Sapone has been a great investment
for H.I.G. Working in partnership with the Barbarossa family, the
Company has more than doubled its earnings and cemented its
position as Italy’s leading non-food discount retailer. We are
proud of the outstanding performance of the management team, and we
look forward to continuing to support the business in its next
chapter alongside TDR.”
Nando Barbarossa, on behalf of the Barbarossa family, said:
“H.I.G. has been a tremendous partner in helping us to further
scale the business, execute M&A, improve service levels,
achieve synergies, and make Acqua & Sapone the undisputed
leader in the Italian market. We are grateful for the continued
support from H.I.G., and we welcome our new partnership with TDR to
keep building on our 40 year-long success story.”
Tom Mitchell, Managing Partner, and Jonathan Rosen, Partner, at
TDR, said: “Acqua & Sapone is a standout business in its sector
which has thrived with the support of its current owners. We
believe that it has great potential to continue on this trajectory
and are looking forward to working with the Acqua & Sapone
team, the Barbarossa family, and H.I.G. to continue the growth of
the business.”
About Acqua & Sapone
Acqua & Sapone is Italy’s leading non-food discount retail
brand, selling a wide range of household and personal care products
at value prices through a network of over 700 retail locations. For
more information, visit acquaesapone.it.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm
with $64 billion of capital under management.* Based in Miami, and
with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New
York, and San Francisco in the United States, as well as
international affiliate offices in Hamburg, London, Luxembourg,
Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, and Dubai,
H.I.G. specializes in providing both debt and equity capital to
mid-sized companies, utilizing a flexible and operationally
focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts,
recapitalizations, and corporate carve-outs of both profitable as
well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior
debt financing to companies across the size spectrum, both on a
primary (direct origination) basis, as well as in the secondary
markets. H.I.G. also manages a publicly traded BDC, WhiteHorse
Finance.
- H.I.G.’s real estate funds invest in value-added properties,
which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus
investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed
more than 400 companies worldwide. The Firm's current portfolio
includes more than 100 companies with combined sales in excess of
$53 billion. For more information, please refer to the H.I.G.
website at hig.com.
About TDR Capital
TDR Capital LLP is a leading European private equity firm with
over €15 billion of assets under management. Founded in 2002, TDR
typically acquires majority stakes in strong, market-leading
European companies with the potential for robust growth and
resilience throughout economic cycles.
The firm has managed five European mid-market buyout funds. The
team of 59 professionals currently manages assets across four
European mid-market buyout funds from its headquarters in London.
To date, the firm has made 27 platform investments, and its
portfolio companies employ over 270,000 people around the
world.
TDR takes a long-term approach to investment and, in addition to
capital invested, also provides expert resource to help drive
sustainable value creation and positive, transformational change
within the businesses it owns. For more information, visit
tdrcapital.com.
*Based on total capital raised by H.I.G. Capital and its
affiliates.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625383637/en/
Stefano Giambelli Managing Director sgiambelli@hig.com
Markus Noe-Nordberg Managing Director mnordberg@hig.com
H.I.G. Capital 10 Grosvenor Street 2nd Floor London W1K 4QB
United Kingdom P +44 (0) 207 318 5700 hig.com