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What's Happening at Palamonat Palamon
in our investments

  • 21 July 2017

    Oliver Hemsley and Josyane Gold join Palamon’s Board of Advisors

    Palamon Capital Partners (“Palamon”), one of Europe’s leading growth private equity firms, has announced the appointments of Oliver Hemsley and Josyane Gold to its Board of Advisors. Mr Hemsley is...

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    21 July 2017

    Oliver Hemsley and Josyane Gold join Palamon’s Board of Advisors

    Palamon Capital Partners (“Palamon”), one of Europe’s leading growth private equity firms, has announced the appointments of Oliver Hemsley and Josyane Gold to its Board of Advisors. Mr Hemsley is...

    Oliver Hemsley and Josyane Gold join Palamon’s Board of Advisors

    Palamon Capital Partners (“Palamon”), one of Europe’s leading growth private equity firms, has announced the appointments of Oliver Hemsley and Josyane Gold to its Board of Advisors.

    Mr Hemsley is the founder and former CEO of Numis Securities, the London-listed small and mid-cap capital markets specialist.  Under his 25 year leadership, Numis became one of the UK's most respected institutional stockbrokers and corporate advisors, employing more than 200 staff. 

    Ms Gold joins the Board of Advisors having spent nearly 25 years as a Partner at SJ Berwin (latterly King & Wood Mallesons) where she specialised in structuring private and public investment funds, including private equity, infrastructure and venture capital.  Ms Gold has previous private equity governance experience, serving from 2013 to 2016 as a Non-Executive Director at Electra Private Equity PLC. 

    Both will join Palamon’s long established and experienced Board of Advisors, comprising 15 business leaders and experts from around the world, most of whom have been affiliated with the Firm since its inception in 1999.  The Board provides counsel to the Firm and contributes its expertise and insights with respect to target investment markets and business sectors relevant to Palamon’s focus.  Board members also serve on Palamon portfolio company boards to help deliver on operational objectives.

    Louis Elson, Managing Partner of Palamon Capital Partners, said: “The Board of Advisors is a critical part of Palamon’s 19-year history and success.  They are all long-standing associates of our Firm who provide support, challenge and continuity to our investment activities and development.  Members now have an average tenure of well-over a decade and are an indispensable part of our operations.  I am more than thrilled to welcome our two newest members, Oliver and Josyane.  Both are powerhouses in their professions and highly regarded in their respective areas of expertise, they bring a deep base of experience and extraordinary capabilities to our firm.  We are fortunate to have them.”

    Commenting on joining the Board of Advisors, Oliver Helmsley said: “My relationship with Palamon and its principals stretches back more than 20 years and I have always been deeply impressed at how clearly it distinguishes itself in the European private equity market which I know well.  Thought leadership, innovation and a high-calibre group of professionals are hallmarks of the firm, much like my own firm.  I am delighted to be able to serve on the Board of Advisors and become a part of Palamon’s future.”

    Commenting on her appointment to the Board of Advisors, Josyane Gold said: “Having worked with Palamon for a considerable number of years, I have had the privilege of seeing the firm up close and personal.  I have always been impressed not only by its combination of entrepreneurial ambition and professionalism, but by its well-considered and differentiated approach to private equity.  I am delighted to be on the inside now and look forward to working closely with this world-class Board.”

    As a leading pan-European investor in the lower mid-market, Palamon brings a unique offering to the businesses it partners, including global reach, deep expertise in institutional development and a track record of internationalization. Earlier this year, Palamon closed its most recent fund with €402 million of commitments. Over its 18-year history Palamon has deployed more than €1.4 billion from its funds plus an additional €1.0 billion in co-investment in 38 companies across 10 countries.  The Firm’s proactive thesis-led sourcing model identifies founder-owned businesses that have the potential to sustain revenue growth of 20% or more throughout economic cycles

  • 09 February 2017

    Palamon closes €550 million sale of SARquavitae for 3.0x return

    Palamon Capital Partners (“Palamon”) has completed the sale of SARquavitae (the “Company”), the leading elderly care provider in Spain for €550 million. Palamon sold SARquavitae’s operating business to GeriaVi, which...

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    09 February 2017

    Palamon closes €550 million sale of SARquavitae for 3.0x return

    Palamon Capital Partners (“Palamon”) has completed the sale of SARquavitae (the “Company”), the leading elderly care provider in Spain for €550 million. Palamon sold SARquavitae’s operating business to GeriaVi, which...

    Palamon closes €550 million sale of SARquavitae for 3.0x return

    Palamon Capital Partners (“Palamon”) has completed the sale of SARquavitae (the “Company”), the leading elderly care provider in Spain for €550 million. Palamon sold SARquavitae’s operating business to GeriaVi, which holds Geriatros, another leading player in the Spanish elderly care market, and is a subsidiary of DomusVi (a PAI Partners portfolio company) for €440 million. SARquavitae’s property companies were sold to Eurosic Lagune, a third party real estate investor, in a separate transaction prior to the sale. Both sales have together generated a combined investment return of 3.0x for Palamon.

    SARquavitae is the largest elderly care services provider in Spain, operating 88 facilities nationwide and is active in residential facilities, home care, tele-assistance and the provision of at-home medical services.  The Company employs approximately 12,000 staff and services 200,000 people per year.  Palamon originally invested in SARquavitae in 2009 having identified the opportunity to build a national champion of scale in the fragmented Spanish elderly care sector.  Ageing demographics, shifts in social structure and regulatory reform created an ideal environment in which to rapidly grow the business both organically and through acquisitions.  In 2011 the Company completed the transformational acquisition of Mapfre Quavitae, making it the largest player in the market.  Over Palamon’s hold period, SARquavitae grew revenues from €127 million to more than €330 million and more than tripled EBITDA.

    Julian Carreras, Partner at Palamon commented: “The sale of our investment in SARquavitae represents another impressive outcome for Palamon, generating a 3.0x return for our investors.  It underlines the power of our original investment thesis, which predicted the growth in the Spanish elderly care market. We would like to remember at this time Higinio Raventos, founder of SARquavitae, who sadly passed away last year and to thank the management team for building a highly effective working relationship during this period and wish them every success with their new partners.”

  • 16 January 2017

    Palamon acquires leading international sock brand, Happy Socks

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has acquired a majority stake in Happy Socks (“The Company”), a leading international brand of design socks. The transaction...

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    16 January 2017

    Palamon acquires leading international sock brand, Happy Socks

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has acquired a majority stake in Happy Socks (“The Company”), a leading international brand of design socks. The transaction...

    Palamon acquires leading international sock brand, Happy Socks

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has acquired a majority stake in Happy Socks (“The Company”), a leading international brand of design socks. The transaction values Happy Socks at SEK 725 million, with SEK 40 million of growth capital being injected to support the continued expansion of the business, leading to a SEK 765 million post-money enterprise value.

    Founded in 2008 in Sweden by Mikael Söderlindh and Victor Tell, the Company’s mission is to spread happiness by turning an everyday essential into a colourful design piece with a high standard of quality, craftsmanship and creativity.  Happy Socks is a globally recognised brand sold in more than 90 countries through more than 10,000 points of sale, supported by a fast growing online channel and an expanding portfolio of own-branded retail stores. 

    The Company has disrupted the global sock wear market by offering high quality, attractively priced, colourful patterned socks promoted through creative point of sale displays, celebrity collaborations and a strong social media presence. Happy Socks has achieved more than 50% revenue and EBITDA annual growth over the last three years, generating retail sales of €100 million in 2016.

    Following the transaction, the founders will remain actively involved in the Company.

    Ali Rahmatollahi, Partner of Palamon Capital Partners, said, “Happy Socks is a phenomenal company with a very distinctive brand DNA that resonates with consumers around the world. Palamon’s investment stems from the Firm’s ongoing effort to identify well-positioned European specialty retail brands with strong growth potential in a global market.”

    Ricardo Caupers, Partner of Palamon Capital Partners, said, “We are delighted to be investing in Happy Socks, the original fashion sock brand offering high-quality socks for every occasion, mindset and style. We are thrilled to partner with founders Mikael Söderlindh and Victor Tell and look forward to supporting Happy Socks in fulfilling its global growth potential.”

    Mikael Söderlindh, Co-Founder of Happy Socks, commented, “In the last two years Happy Socks has grown beyond our expectations. We have transformed the company into a real growth engine by strengthening our operational platform and our global presence. We have achieved the best of both worlds by securing a strong new partner in Palamon and remaining significant owners in a great business that we will continue to build in the years to come.”

    Palamon’s previous investments in the specialty retail sector include: dress-for-less, a German online retailer for designer apparel; feelunique.com, the leading pure-play online retailer of premium beauty products in the UK; Il Bisonte, the Italian leather goods brand and The Rug Company, a leading global brand in luxury handmade rugs.

    Palamon’s investment strategy targets founder-led, service sector businesses across Europe with the potential to capture the shift in consumer demand toward authentic, high quality and well-priced products and grow revenue at more than 20% per annum.  

  • 24 October 2016

    Palamon agrees sale of SARquavitae for a 3.0x return

    Palamon Capital Partners (“Palamon”) has agreed the sale of SARquavitae (the “Company”), one of the leading elderly care providers in Spain, to HomeVi S.A.S. (“Home VI”) a portfolio company of...

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    24 October 2016

    Palamon agrees sale of SARquavitae for a 3.0x return

    Palamon Capital Partners (“Palamon”) has agreed the sale of SARquavitae (the “Company”), one of the leading elderly care providers in Spain, to HomeVi S.A.S. (“Home VI”) a portfolio company of...

    Palamon agrees sale of SARquavitae for a 3.0x return

    Palamon Capital Partners (“Palamon”) has agreed the sale of SARquavitae (the “Company”), one of the leading elderly care providers in Spain, to HomeVi S.A.S. (“Home VI”) a portfolio company of PAI Partners.  The transaction is subject to receipt of antitrust clearance from the European Commission and is expected to close in the first quarter of 2017.  The sale will result in an investment return of 3.0x for Palamon.

    Julian Carreras, Partner at Palamon commented: “We are delighted with the result of our investment in SARquavitae which when complete will generate nearly €140 million of proceeds and a 3.0x return for our investors.  Our investment thesis for rapid growth in the Spanish elderly care market proved prescient and allowed us to drive SARquavitae revenues from €127 million to €310 million and more than triple EBITDA.”

    SARquavitae (www.sarquavitae.es) is one of the leading health and social services provider in Spain. It has a workforce made up of more than 12,000 employees, who provide nursing home and domiciliary care services to 200,000 people every year. The organisation has developed an innovative person-centred care protocol based on three main areas: humane, friendly treatment, specialist healthcare and a focus on comfort and wellbeing, which permeate all these services. The company has 109 centres, of which 72 are nursing homes and healthcare centres, 16 are specialist disability care centres, 19 are day centres and hospitals and 2 constitute housing complexes with services, comprising a total offer of almost 14,000 places.

  • 04 July 2016

    Palamon agrees sale of Eneas for a 3.3x return

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has agreed the sale of Eneas Group (“Eneas” or the “Company”) to Norvestor Equity (“Norvestor”) for an undisclosed amount. ...

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    04 July 2016

    Palamon agrees sale of Eneas for a 3.3x return

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has agreed the sale of Eneas Group (“Eneas” or the “Company”) to Norvestor Equity (“Norvestor”) for an undisclosed amount. ...

    Palamon agrees sale of Eneas for a 3.3x return

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, has agreed the sale of Eneas Group (“Eneas” or the “Company”) to Norvestor Equity (“Norvestor”) for an undisclosed amount.  The sale will bring total proceeds to NOK 750 million (approximately €80 million), representing a 3.3x return on invested capital.  The transaction is expected to close in August 2016, subject to regulatory approvals.  Full terms of the sale were not disclosed, however, following the transaction the Company will continue to be led by CEO and Founder, Thomas Hakavik.

    Eneas is the leading independent supplier of corporate energy services to small and medium sized enterprises (“SMEs”) in the Nordic region and serves more than 25,000 customers with energy brokerage, energy audit and smart metering services.   

    Palamon acquired a substantial majority stake in Eneas having recognised the growth potential of its highly-scalable energy brokerage business, which intermediates between SMEs and the deeply fragmented Nordic supplier base of almost 300 energy providers.  Under Palamon’s ownership, Eneas has grown into the largest independent energy broker for SMEs and the clear market leader in Norway and Sweden, representing 1.7 TWh of annual energy consumption.  The Company has been able to successfully leverage its scale and sophistication in navigating the Nordic electricity market to offer competitive, convenience-focused products tailored to the needs of its SME customer base.

    Jean Bonnavion, Partner at Palamon Capital Partners commented, “I am delighted with the level of success at Eneas, particularly over the past three years during which time we have grown EBITDA at 40% CAGR.  Our investment in Eneas originated from our pan-European thematic strategy, which identifies high-growth businesses supported by resilient sectoral shifts.  In line with our investment thesis, Thomas and his team have been able to scale the brokerage business to a position of real strength in a highly-fragmented and competitive supplier market, producing a 3.3x return for our investors.”

    Thomas Hakavik, Founder and CEO of Eneas said, “Palamon has been a very strong partner for Eneas over the last three years.  The Firm’s strategic guidance has proved critical in helping us to focus the company on the core business activities and drive growth.  I am proud that Eneas is now the leading independent player in the Nordic energy market, in a stronger financial position than ever and with significantly improved capabilities.  We are excited for the next stage of the company’s growth.”

    Palamon’s previous investments in the Nordic region include: Espresso House, which it realised in 2012 for a 3.4x return and Nordax, which it sold in 2010 for a 3.8x return.

    The Firm’s investment strategy targets businesses that can capitalise on long term growth trends arising from socio economic and structural changes within sub-sectors of industry.  In April, Palamon signed an agreement to sell Towry, the leading independent UK wealth manager for £600 million and a 13x investment return.  Palamon’s recent investments include the acquisition of control positions in three Founder-owned businesses: Currencies Direct, one of the largest specialist international payments providers in the UK; Il Bisonte, an Italian leather accessories brand with an established sales presence in Japan; and The Rug Company, the leading global retailer of designer luxury rugs

  • 04 April 2016

    Palamon completes £20 million funding round for Feelunique.com to fund European expansion

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, today announced that it has completed a £20 million funding round alongside two co-investors for portfolio company Feelunique.com (“Feelunique”...

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    04 April 2016

    Palamon completes £20 million funding round for Feelunique.com to fund European expansion

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, today announced that it has completed a £20 million funding round alongside two co-investors for portfolio company Feelunique.com (“Feelunique”...

    Palamon completes £20 million funding round for Feelunique.com to fund European expansion

    Palamon Capital Partners (“Palamon” or the “Firm”), a pan-European growth investor, today announced that it has completed a £20 million funding round alongside two co-investors for portfolio company Feelunique.com (“Feelunique” or the “Company”), the largest pure-play online retailer of premium beauty products in the UK.  

    Founded in 2005, Feelunique is a leading online retailer of premium products in haircare, skincare, cosmetics and fragrances, selling full-permissioned stock from all of the major brands including Chanel, Dior, Lancôme and Estee Lauder.  Palamon acquired the Company in December 2012 recognising the growth opportunity presented by the significantly underpenetrated online beauty retail sector.  Since then, Palamon has strengthened Feelunique’s market position by professionalising its management and investing in infrastructure, including moving the firm’s logistics centre to the UK to accelerate growth in this key market.  The UK business has performed extremely well with revenue up 38% and total retail sales for the year ended 31 March 2016 of £65 million, an increase of 23% on the year before.

    The full terms of the transaction were not disclosed, however, Palamon committed £5 million to the Company alongside two co-investors.  The £20 million of funding will be used to continue driving growth in the UK market and finance expansion in Continental Europe by establishing a local presence in France, Europe’s largest beauty retail market.  Feelunique recently acquired Parfumeries Rive Droite, a French perfumery chain with four boutiques across France, including a flagship store in Paris.  The Company also opened a local distribution centre and appointed a highly-experienced local executive team.  In addition Feelunique recently launched a Chinese website which is operating beyond expectations.

    Ricardo Caupers, Partner at Palamon commented: “With the largest range of permissioned stock of any online distributor in the world, Feelunique has already achieved tremendous success and in its home UK market is growing at almost 40% per annum.  We are delighted to have completed this funding round which will support the Company in the next stage of its development and fulfil its ambition to become the champion of online premium beauty retail in Europe and beyond.”

    Joel Palix, CEO of Feelunique, said: “We are delighted that Palamon have increased their financial commitment alongside two new co-investors at this very exciting time for the business.  Our financial results show the strength of the brand in the UK and with strong consumer demand for our unrivalled brand portfolio coming from all corners of the world, it is clear that the business has expansive growth potential.  We look to the future with confidence as Feelunique leads with its universal and diverse approach to beauty – one without boundaries.”

    Palamon invests in service sector companies from across Europe with the potential to access high levels of growth.  Recent transactions include leather accessories brand Il Bisonte, luxury rug retailer The Rug Company and international payments provider Currencies Direct.  The Firm has a strong track record of generating co-investment and with this transaction has generated €900 million of co-investment to invest alongside €1.2 billion of equity from its Funds.

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  • 18 December 2014

    Palamon Capital Partners sells POLIKUM to SANA

    Palamon Capital Partners (“Palamon”), one of Europe’s leading mid-market private equity firms, has agreed the sale of POLIKUM GmbH (“POLIKUM” or “the Company”), a German operator of outpatient health clinics...

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    18 December 2014

    Palamon Capital Partners sells POLIKUM to SANA

    Palamon Capital Partners (“Palamon”), one of Europe’s leading mid-market private equity firms, has agreed the sale of POLIKUM GmbH (“POLIKUM” or “the Company”), a German operator of outpatient health clinics...

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    Palamon Capital Partners sells POLIKUM to SANA

    Palamon Capital Partners (“Palamon”), one of Europe’s leading mid-market private equity firms, has agreed the sale of POLIKUM GmbH (“POLIKUM” or “the Company”), a German operator of outpatient health clinics (OHCs) to SANA, a leading private-sector hospitals operator in Germany.

    Founded in 2004, POLIKUM manages a network of four OHCs in Berlin and Leipzig, which provide ambulatory general medicine and specialities including paediatrics, physiotherapy and cardiology to statutory and private patients.  Following a series of reforms to the German healthcare market to improve efficiency and reduce costs by promoting outpatient care, POLIKUM has played a pioneering role in the rapidly growing multi-site OHC sector.

    Since Palamon’s acquisition of POLIKUM in 2009, the Company has tripled revenues from €11 million to €33 million for 2014 and significantly improved its site-by-site performance.  Key to this success was Palamon’s decision to strengthen the Company’s management team, reduce its cost base and fund the acquisition of an additional clinic in Berlin and a second regional cluster in Leipzig.  As a result, POLIKUM today employs over 500 staff, including 130 physicians and treats over 500,000 patients per annum.

    Pascal Noth, Partner at Palamon, commented, “Under our ownership, POLIKUM has been transformed from an early-stage investment into one of the leaders in the German outpatient market.  With its fast-growing patient base, robust operating model and proven track record in delivering high-quality care, POLIKUM generated strong interest from the largest healthcare and hospital providers. We wish the team continued success with their new strategic partners.”

    Stephan Kewenig, CEO of POLIKUM, commented, “Palamon’s support and strategic insight has been invaluable in establishing POLIKUM as a leading operator in the outpatient sector in Germany.  We are now in a position to offer a broader range of support to patients throughout Berlin and Leipzig, and we look forward to working with SANA to capture the next stage of growth.”

    Healthcare is an important investment theme for Palamon, which has committed more than €200 million to the sector over the past seven years.  The Firm has invested across Europe in a range of market-leading businesses such as; SARquavitae, Spain’s largest elderly care provider with 12,000 staff; IDH, the largest dental corporate in the UK with more than 600 practices; Prospitalia, the leading Group Purchasing Organisation in Germany; and OberScharrer Group, the leading ophthalmology group in Germany.

  • 16 April 2014

    Palamon wins multiple awards for 14.6x Cambridge Education exit

    Palamon Capital Partners (“Palamon” or the “Firm”) has received recognition in the private equity industry’s leading awards for its investment in Cambridge Education Group (“CEG”). CEG is today one of...

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    16 April 2014

    Palamon wins multiple awards for 14.6x Cambridge Education exit

    Palamon wins multiple awards for 14.6x Cambridge Education exit

    Palamon Capital Partners (“Palamon” or the “Firm”) has received recognition in the private equity industry’s leading awards for its investment in Cambridge Education Group (“CEG”). CEG is today one of...

    < back to news

    Palamon wins multiple awards for 14.6x Cambridge Education exit

    Palamon Capital Partners (“Palamon” or the “Firm”) has received recognition in the private equity industry’s leading awards for its investment in Cambridge Education Group (“CEG”).

    CEG is today one of the leading providers of pre-University education, originally identified in 2007 by Palamon and acquired off-market from its husband-and-wife founder team. Palamon institutionalised the management team, developed strategy, built infrastructure and provided the financial and strategic support to rapidly grow over the six-year hold period. Cambridge Education Group was realised by Palamon in December 2013 generating a 14.6x return on invested capital and an IRR of 58%. The investment has won two of the leading industry awards:

    Private Equity International Awards 2013: Exit of the Year in Europe Private Equity Awards 2014: UK Small Deal of the Year

    UK SMALL DEAL OF THE YEAR

    Pascal Noth, Partner at Palamon and
    Fergus Brownlee, CEO of CEG, collecting the award

    In addition, Private Equity News shortlisted the investment as one of the top 25 deals of the last decade (link) and CEG received Education Investor Award, 2013 for Private Schools Operator.

    Pascal Noth, Partner at Palamon, said: “We are extremely proud of our achievements with Cambridge Education Group and grateful to the exceptional management team that so successfully delivered our business plan. We continue to be excited about the opportunities that the education sector holds for investment out of our new fund.”

    Louis Elson, Managing Partner at Palamon, added: “We are delighted to have garnered such strong recognition for this investment. Most importantly, this follows similar awards and recognitions achieved now in multiple European countries, including Scandinavia and the DACH region. Our investment success is truly pan-European.”

    Palamon won Private Equity Awards 2013: Nordic Deal of the Year for its exit of Espresso House and unquote” DACH Private Equity Awards 2011: German Buyout Deal of the Year for its sale of Dress-for-less. The Firm was also shortlisted for Private Equity Awards 2010, DACH Deal of the Year for Loyalty Partner and Nordic Deal of the Year for Nordax.

    Selected Awards Won

    UK SMALL DEAL OF THE YEAR

    BUYOUT HOUSE OF THE YEAR

    DEAL OF THE YEAR: DACH

    NORDIC DEAL OF THE YEAR

    SELECTED SHORTLISTINGS

    EXIT OF THE YEAR: DACH

    DEAL OF THE YEAR: NORDICS

    DACH BUYOUT DEAL OF THE YEAR

    HOUSE OF THE YEAR: UK

    BUYOUT HOUSE OF THE YEAR

    BVCA BUYOUT HOUSE OF THE YEAR

  • 04 December 2013

    Palamon Capital Partners agrees sale of Cambridge Education Group to Bridgepoint for a 14.6x

    Palamon Capital Partners ("Palamon"), a leading lower mid-market European private equity firm, has agreed the sale of its majority stake in Cambridge Education Group ("CEG" or "the Group") to Bridgepoint....

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    04 December 2013

    Palamon Capital Partners agrees sale of Cambridge Education Group to Bridgepoint for a 14.6x

    Palamon Capital Partners ("Palamon"), a leading lower mid-market European private equity firm, has agreed the sale of its majority stake in Cambridge Education Group ("CEG" or "the Group") to Bridgepoint....

    < back to news

    Palamon Capital Partners agrees sale of Cambridge Education Group to Bridgepoint for a 14.6x

    Palamon Capital Partners ("Palamon"), a leading lower mid-market European private equity firm, has agreed the sale of its majority stake in Cambridge Education Group ("CEG" or "the Group") to Bridgepoint. The sale will generate a return on investment for Palamon of 14.6 times, with a capital gain of £141 million and an IRR of 58%.

    Cambridge Education Group is a leading player in the international schools market, providing pre-university education to students from over 95 countries via its global recruiting network. It forms part of the rapidly growing UK education export industry, which is estimated to be worth £17.5 billion and one of the ten largest export segments in the country.

    Palamon originally sourced its investment in CEG directly from the founding team of Nick Golding and Elizabeth and Ann Armstrong in 2007. At that time CEG taught 460 academic students per year across two campuses in Cambridge and Canterbury. Today, CEG teaches over 3,000 academic students and thousands of short-term English language students each year across its four divisions in three countries. In excess of 75% of CATS students gain entry into top ranked universities each year.

    During Palamon's ownership, CEG has grown revenues five-fold to an estimated £90 million for the academic year 2013-14. This growth has been exclusively organic as the management team expanded its teaching capacity, signed on new sites and focused on providing the highest standards of education to its primarily international customer base.

    Louis Elson, Managing Partner at Palamon, commented: "We are very proud of having played an important part in building CEG into a leading brand with a dominant position in the education sector. This is a classic 'breakaway' Palamon investment. We identified an unusual opportunity in a small business context with strong potential and combined it with exceptional management talent to deliver explosive long-term growth. I speak for the various Palamon team members who conceived and transacted on the CEG investment, including Dan Mytnik who gave invaluable guidance to the company throughout its development, in recognising the great achievement of CEO Fergus Brownlee and his Chairman Stephen Warshaw. We wish Fergus and his team continued success with their new partners."

    Fergus Brownlee, Chief Executive of CEG, added: "We are delighted with what we have been able to achieve during the past seven years with the close and supportive collaboration of our partner, Palamon. We have taken CEG from being a small UK platform to a market leading brand with an international presence and are now looking forward to working with Bridgepoint to capture the next stage of growth."

    Stephen Warshaw, Chairman of CEG, added: "This is a tremendous result for the management team here at CEG, who have worked so hard to build the business by expanding teaching capability and entering new sectors and markets, whilst delivering high standards of educational and pastoral care. We have benefited from a highly successful partnership with Palamon, whose strategic vision and financial expertise have been invaluable in the evolution and growth of CEG."

    This is Palamon's sixth exit from its €670 million 2006 fund, Palamon European Equity II, which to date has generated cash proceeds of €660 million and a 3.6x return and 28% IRR on fully realised investments. Palamon II still has 11 high growth companies remaining in its portfolio, including; Retail Decisions, a global fraud prevention provider for card-based and on-line transactions; IDH, the largest NHS dental practice group in the UK and OberScharrer Group, a leading ophthalmic healthcare business in Germany.

    Source:

    1 Official UK government statistics: www.gov.uk/government/news/new-push-to-grow-uks-175-billion-education-exports-industry

  • 16 April 2013

    The Carlyle Group, in partnership with Palamon Capital Partners, has acquired DBG (UK) Limited

    Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Palamon Capital Partners today announced the acquisition of DBG (UK) Limited (“dbg”) from Synova Capital. The terms of the transaction...

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    16 April 2013

    The Carlyle Group, in partnership with Palamon Capital Partners, has acquired DBG (UK) Limited

    Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Palamon Capital Partners today announced the acquisition of DBG (UK) Limited (“dbg”) from Synova Capital. The terms of the transaction...

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    The Carlyle Group, in partnership with Palamon Capital Partners, has acquired DBG (UK) Limited

    Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Palamon Capital Partners today announced the acquisition of DBG (UK) Limited (“dbg”) from Synova Capital. The terms of the transaction were not disclosed.

    Operating for over 20 years, dbg is a specialist healthcare support services provider of training, compliance support, engineering services, materials and equipment. Using a membership- based model, dbg works alongside over 8,000 dental, GP and veterinary practices throughout the UK, and is headquartered in Winsford, Cheshire.

    Eric Kump, Managing Director at Carlyle said “dbg is a well-established business delivering clear benefits to its members, customers and suppliers. Carlyle and Palamon have a strong track record in this sector, having acquired Integrated Dental Holdings (“IDH”) in 2011. While the two businesses will be part of the same investment vehicle, dbg will remain independent and will benefit from the expertise of the investors.”

    Jonathan Heathcote, Partner at Palamon, added “The existing management team has done a great job of delivering strong business performance and we look forward to building on this in the future as we explore the further growth opportunities in this sector.”

    Speaking on the transaction, Managing Director of dbg, Kanesh Khilosia, commented “We are delighted to be partnering with Carlyle and Palamon. They strongly support our strategy to continue to grow and diversify dbg’s services and support our members whose interests remain first and foremost. Carlyle and Palamon bring a wealth of sector experience, which will build upon that of the existing management. The prospect of greater co-operation with IDH, which operates the largest healthcare practise network in the UK, will significantly add to our ability to provide a superior, cost effective service to our members.”

    Philip Shapiro, Managing Partner at Synova commented “We are very pleased with the completion of our successful investment in dbg. Since we acquired dbg in 2010, the membership base has more than doubled and profits have trebled. We thank the dbg management team and staff for their valuable contribution and hard work. Carlyle and Palamon have a clear vision and ability to continue this growth.”

    About The Carlyle Group

    The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 113 funds and 67 fund of fund vehicles as of December 31, 2012. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pension funds. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, technology & business services, telecommunications & media and transportation. The Carlyle Group employs 1,400 people in 33 offices across six continents.

    Web: www.carlyle.com
    Videos: www.youtube.com/onecarlyle
    Tweets: www.twitter.com/onecarlyle
    Podcasts: www.carlyle.com/about-carlyle/market-commentary

    About Palamon Capital Partners

    Palamon Capital Partners, LP is an independent private equity Partnership founded in 1999, which is focused on providing equity for European growth services companies. Palamon, as a pan-European investor, originates, executes and manages investments in the UK, Italy, Spain, Denmark, Belgium, Sweden, France, and Germany. The Firm targets investments in companies where it can achieve double digit growth and where the Partnership’s experienced principals can provide strategic direction and support to help build equity value. The Firm manages Palamon European Equity, L.P. and Palamon European Equity II, L.P., capitalised at €1.1 billion dedicated to growth investment opportunities in Europe’s lower mid-market.

    For more information on Palamon refer to www.palamon.com

    About Synova Capital

    Synova invests in smaller UK growth opportunities with a particular focus on companies valued at between £5 million and £30 million. Key verticals include Business Services, Software & IT Services, Consumer & Leisure and Healthcare & Education.

    For more information on Synova Capital refer to www.synova-capital.com

  • 19 December 2012

    Towry raises £35 million of new equity

    Palamon Capital Partners ("Palamon" or the "Firm") is pleased to announce that portfolio company Towry Group Limited ("Towry" or the "Company") has raised £35 million of new equity to provide...

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    19 December 2012

    Towry raises £35 million of new equity

    Palamon Capital Partners ("Palamon" or the "Firm") is pleased to announce that portfolio company Towry Group Limited ("Towry" or the "Company") has raised £35 million of new equity to provide...

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    Towry raises £35 million of new equity

    Palamon Capital Partners ("Palamon" or the "Firm") is pleased to announce that portfolio company Towry Group Limited ("Towry" or the "Company") has raised £35 million of new equity to provide additional funding for the Company's expansion plans. The investment was made by two Palamon co-investors, AlpInvest Partners B.V. and Honeywell Capital Management LLC.

    The new Retail Distribution Review (RDR) regulation, effective from 1 January 2013, is driving changes in the UK wealth advice sector and providing significant opportunities for Towry to accelerate acquisitions and adviser recruitment. Towry has made 10 acquisitions since Palamon's initial investment in 2003 and grown its adviser base from 13 to 144 and its assets under management from £250 million to £4.6 billion. Today, the Company has annual revenue of over £80 million and provides fee-based wealth advice and discretionary asset fund management services to over 25,000 clients.

    The successful new fundraising complements the recent £47.5 million of financing lines secured earlier in the year from Macquarie Bank and Royal Bank of Scotland.

    Andrew Fisher, Chief Executive of Towry said, "We have exciting expansion plans as we see enormous opportunities arising from the RDR. The new capital raised gives us a solid base from which to execute our plans for further growth.".

    Gerald Corbett, Chairman of Towry added, "With the strength of Towry's offering to its clients and its experienced management team, I am certain that it will successfully implement its expansion plans and generate excellent returns. We welcome AlpInvest and Honeywell Capital as shareholders and appreciate their confidence in our Company.".

    Daan Knottenbelt, Partner at Palamon, commented, "The support from such high calibre institutional investors is a testament to the strength of Towry's business model, its track record and its tremendous growth potential. We are delighted to continue our work with Towry's management as they continue to expand their presence in the UK wealth management sector."

  • 10 December 2012

    Palamon teams up with Sirius to acquire beauty retail specialist, feelunique.com

    Palamon Capital Partners ("Palamon" or the "Firm"), a pan-European growth investor, led the transaction to acquire a majority interest in beauty e-commerce specialist feelunique.com ("feelunique" or the "Company"), one of...

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    10 December 2012

    Palamon teams up with Sirius to acquire beauty retail specialist, feelunique.com

    Palamon Capital Partners ("Palamon" or the "Firm"), a pan-European growth investor, led the transaction to acquire a majority interest in beauty e-commerce specialist feelunique.com ("feelunique" or the "Company"), one of...

    < back to news

    Palamon teams up with Sirius to acquire beauty retail specialist, feelunique.com

    Palamon Capital Partners ("Palamon" or the "Firm"), a pan-European growth investor, led the transaction to acquire a majority interest in beauty e-commerce specialist feelunique.com ("feelunique" or the "Company"), one of Europe's fastest growing on-line beauty retailers. The transaction was agreed at a head-line enterprise value for feelunique of £26 million.

    feelunique is a leading on-line retailer of premium products in haircare, skincare, cosmetics and fragrances, selling full-permissioned stock from almost all of the major brands including Dior, Lancôme, Clarins, Guerlain, Yves Saint Laurent, Benefit and Kerastase. The Company has built a strong reputation for its customer service and website editorial content, which is directed by Newby Hands, a beauty journalist and Harper's Bazaar Beauty Director-at-Large. It was founded in 2005 and employs more than 125 staff at its headquarters and logistics centre in the Channel Islands.

    Palamon will purchase a majority shareholding from the founders and earlier-stage investors and will provide further capital to support the Company's growth plan. Sirius Equity will invest alongside Palamon in the transaction. Following Palamon's investment, Sirius co-founders Robert Bensoussan will join the Board of the Company as Chairman and Jim Sharp will join the Board as a Non-Executive Director. Mr Bensoussan also is Chairman of L K Bennett, a board member of Interparfums and former investor in and CEO of Jimmy Choo.

    Palamon's and Sirius' investment stems from the strong underlying growth in the on-line beauty retail segment driven by the increasing shift in consumer spend to on-line, as occurred in the fashion retail sector. feelunique is also taking significant market share by progressively expanding its product range and increasing loyalty through its customer-centric model. This has driven growth in Company sales by more than 40% per year to more than £30 million of annual revenue.

    Dan Mytnik, Partner at Palamon commented: "We are delighted to be investing in feelunique, a high growth business that is ideally placed to benefit from the fast expanding on-line retail beauty sector with its established platform, a strong business model and entrepreneurial management team. We are pleased to have the opportunity to partner with founders, Aaron Chatterley and Richard Schiessl, and to welcome Robert Bensoussan and Jim Sharp to the Board. The expertise of Robert and Jim in the luxury branded sector will be invaluable in taking the business to the next level."

    Aaron Chatterley, CEO of feelunique, said: "We are excited to have gained the backing of Palamon whose expertise in the on-line retail space convinced us that they would be ideal partners. Given our ambitious growth plans and the size of the opportunity, it was important to partner with a firm that had both the financial resources and a clear vision of how the market will evolve. We now look forward to working closely with our new partners as we turn our vision of expansion into reality."

    Robert Bensoussan, newly appointed Chairman of feelunique commented "feelunique has developed an incredibly strong platform through the hard work of Aaron and Richard and their team. We believe there is a very exciting opportunity to develop the business and I am excited to be partnering with Palamon and the management team to help the business fulfil its potential".

    Palamon identifies and invests in high growth services businesses across Europe, the majority of which are founder-led and sourced directly by the Firm's strong proprietary deal flow network. Since the Firm's inception in 1999 Palamon's portfolio companies have achieved revenue growth on average of 20% per annum.

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