HIG Capital announces the sale of Acqua & Sapone to TDR Capital

LONDON, June 26, 2024–(BUSINESS WIRE)–HIG Capital (“HIG”), 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. HIG and the Barbarossa family will retain a significant stake in the capital of the Company. The transaction is subject to approval by antitrust authorities.

The company generates more than €1.1 billion in annual revenue and is Italy’s leading non-food discount retailer, selling a wide range of household and personal care products at great prices through a network of over of 700 points of sale.

Stefano Giabelli, Managing Director, and Markus Noe-Nordberg, Managing Director and Head of HIG’s European Middle Market LBO team, commented: “Acqua & Sapone has been an excellent investment for HIG. By working in partnership with the Barbarossa family, the company has more than doubled its profits and consolidated its position as Italy’s leading non-food discounter. We are proud of the outstanding performance of the management team and look forward to continuing to support the company in its next chapter alongside TDR.

Nando Barbarossa, on behalf of the Barbarossa family, said: “HIG has been a fantastic partner in helping us further grow the business, complete mergers and acquisitions, improve service levels, achieve synergies and making Acqua & Sapone the undisputed leader of the Italian market. We are grateful for HIG’s continued support and look forward to our new partnership with TDR to continue building on our 40-year success story. »

Tom Mitchell, Managing Partner, and Jonathan Rosen, Associate at TDR, said: “Acqua & Sapone is an outstanding business in its sector that has thrived with the support of its current owners. We think it has great potential to continue on this path. trajectory and we look forward to working with the Acqua & Sapone team, the Barbarossa family and HIG to continue the growth of the company.

About Acqua & Sapone

Acqua & Sapone is Italy’s leading discount non-food retail brand, selling a wide range of household and personal care products at great prices through a network of over 700 points of sale. For more information, visit acquaesapone.it.

About HIG Capital

HIG Capital is a leading global alternative investment firm with $64 billion of capital under management.* Headquartered in Miami and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York and San Francisco in the United States, as well as with international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo and Dubai, HIG specializes in providing debt and equity capital to mid-market companies, utilizing a flexible, operations-focused / value-added approach:

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• HIG’s equity funds invest in management buyouts, recapitalizations and spinoffs of both profitable and underperforming manufacturing and service companies.

• HIG’s debt funds invest in senior, unitranche and junior debt financing for companies of all sizes, both on a primary basis (direct origination) and in secondary markets. HIG also manages a publicly traded BDC, WhiteHorse Finance.

• HIG’s real estate funds invest in value-add properties, which can benefit from better asset management practices.

• HIG Infrastructure focuses on making value-added and core plus investments in the infrastructure sector.

Since its founding in 1993, HIG has invested in and managed more than 400 companies around the world. The company’s current portfolio includes more than 100 companies with combined sales exceeding $53 billion. For more information, please visit the HIG website at hig.com.

About TDR Capital

TDR Capital LLP is a leading European private equity firm with over €15 billion in assets under management. Founded in 2002, TDR typically acquires majority stakes in strong, market-leading European companies with robust growth potential and resilience throughout economic cycles.

The firm has managed five mid-sized buyout funds in Europe. The team of 59 professionals currently manage the assets of four mid-sized European buyout funds from its headquarters in London. To date, the company has made 27 platform investments and its portfolio companies employ more than 270,000 people worldwide.

TDR takes a long-term investment approach and, in addition to invested capital, also provides expert resources to help drive sustainable value creation and positive transformational change within the companies it owns. For more information, visit tdrcapital.com.

*Based on total capital raised by HIG Capital and its affiliates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240625383637/en/

Contacts

Stefano Giabelli
General manager
[email protected]

Markus Noé-Nordberg
General manager
[email protected]

HIG Capital
10 Grosvenor Street
2^sd Ground
London W1K 4QB
United Kingdom
+44 (0) 207 318 5700
hig.com