International equestrian fashion wholesaler Hypo Wholesale has joined forces with consumer-focused investor Vendis Capital in a management buyout. Livingstone acted as the exclusive financial advisor to the shareholders of Hypo Wholesale on the transaction. Terms of the deal were not disclosed.
Livingstone, the leading independent, international investment banking firm, is pleased to announce that the international equestrian fashion wholesaler Hypo Wholesale B.V. (“Hypo Wholesale”) has joined forces with consumer-focused investor Vendis Capital N.V. (“Vendis”) in a management buy-out. Livingstone acted as the exclusive financial advisor to the shareholders of Hypo Wholesale on the transaction. Terms of the deal were not disclosed.
Headquartered in The Hague, the Netherlands, Hypo Wholesale is an internationally leading wholesaler of branded equestrian fashion products and accessories as well as equestrian gear and horse care products under internationally well-known brands like ‘HV POLO’ and ‘euro-star’. The Company distributes its products via specialized equestrian retailers, internet- and mail order companies, mainly in Europe. In 2012, Hypo Wholesale took over the activities of Nederinum/Imperial Riding, one of the oldest Dutch equestrian wholesalers specialized in hardware products.
Vendis is a private equity fund with an exclusive focus on the consumer sector in Europe. With a capital base of more than 100 million euro, the Fund is headquartered in Belgium, but is actively present in the Dutch and French markets.
“This is a new step in the development of Hypo Wholesale, of which I laid the foundation 28 years ago,” said Steef Duijndam, Founder and Managing Director. “Vendis can not only support the growth of our company, but also bring consumer sector expertise to the table. At the same time Vendis empowers our team to continue to lead the Company’s independent development from a shareholders position.”
Jan Willem de Lange, Managing Director of Hypo Wholesale, added, “After years of impressive growth and a technical and logistical reorganization in 2010, we had the feeling that it was time to attract an additional partner who will help us in the future. We sought a partner who would further professionalize our business procedures, help us integrate the group of companies and support the strong growth opportunities we foresee for Hypo Wholesale. Livingstone Partners helped us not only to identify the right investor but also to present our very entrepreneurially led company in such a way that a professional investor understands our story.”
“Due to its profound understanding of wholesale as well as retail businesses Vendis has proven to be the right partner for Hypo Wholesale and its shareholders throughout the divestiture process,” said Christian Grandin, Managing Partner Livingstone Düsseldorf.
“We are very happy with our entry in Hypo Wholesale,” commented Michiel Deturck, Partner and Co-Founder of Vendis. “It is one of the most dynamic players in quite a specific market. The team has a lot of industry experience and has succeeded to develop authentic brands like ‘HV POLO’ as well as to re-new established more traditional brands like ‘euro-star’, ‘Imperial Riding’ or ‘Power & Paint’. This is illustrated by the growth realized during the last years. We look forward to work together with the team and to support the continued development of the group.”
Hypo Wholesale represents Livingstone’s 10th consumer transaction completed in the last 12 months. Following the successful transactions involving UTV manufacturer American SportWorks, cinema operator City Screen and gaming operator Marwyn Gaming, continues Livingstone’s strong track record in the consumer sector.
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