ADA Cosmetics International, which is backed by Ardian, is acquiring Scandinavian Amenities A/S, a Denmark-based hotel cosmetics provider for the Scandinavian market. No financial terms were disclosed.
April 22nd, 2015 – ADA Cosmetics International (“ADA”), Europe’s leading manufacturer of high-quality hotel cosmetics, is acquiring Scandinavian Amenities A/S (“SCANAMENITIES”), the leading provider of hotel cosmetics for the Scandinavian market, with the support of Ardian. The parties have agreed not to disclose the purchase price and further details. Through the acquisition of SCANAMENITIES, ADA aims to capitalize on the growth potential of the attractive Scandinavian market and develop synergies in distribution and production.
SCANAMENITIES, headquartered in Hvidovre (Denmark), is Scandinavia’s leading provider of personal care products and accessories for guest use in hotels, vacation resorts, cruise ships and airplanes. Founded in 1986, the company’s business model comprises product development and design, as well as marketing, sales and logistics. The personal care products from SCANAMENITIES are sold in patented dispenser and pump systems in 25 countries. The dispenser collection from SCANAMENITIES was developed in close collaboration with leading Scandinavian designers and has a design that is both timeless and flexible so products can be tailored to individual customer wishes. The well-known dispenser system ILLI was recently redesigned and has now also been introduced into the market as ILLI 2. SCANAMENITIES’ management, including Stefan Schmidt and Peter Nielsen, will continue with the company.
Ardian acquired ADA Cosmetics in July 2014 via its Expansion Fund III, which closed in March 2014 at €500 million. As majority shareholder, Ardian supports ADA’s management team in maintaining its market leading position as well as growing the business throughout Europe, Asia and the Middle East. This growth will be achieved through the expansion of the product offering and design suite as well as the establishment of new distribution channels and add-on acquisitions. The acquisition of SCANAMENITIES realizes synergies in production, expands ADA’s geographical presence in Northern Europe and offers attractive, recurring business opportunities in dispenser systems through SCANAMENITIES’ product portfolio. For fiscal year 2015, ADA expects revenues of more than €60 million.
Wilhelm B. Könning, CEO of ADA Cosmetics, emphasized the importance of the acquisition: “In recent years, we have achieved a market share of 35 percent in the important German-speaking countries. With SCANAMENITIES’ attractive dispenser systems, we will be able to appeal to new customers in the German market, especially in the area of three- and four-star hotels. This acquisition will also help us gain a presence in the highly attractive Scandinavian market. We are now a decisive step closer to our goal of expanding through Europe and generating further growth.”
Peter Nielsen, Founder and Managing Partner of SCANAMENITIES, added: “We are pleased to have found a strong partner in ADA Cosmetics who will support us with extensive industry experience and a strong distribution platform. With this strengthened operational capacity, we believe we are in the best position for further growth.”
Dirk Wittneben, Managing Director at Ardian and responsible for the Expansion team’s investments in German-speaking countries, summarized: “The transaction is in line with Ardian’s strategy of supporting our portfolio companies through long-term partnership and commitment. With ADA’s high-quality standards and longstanding customer relationships, we aim to achieve further international and organic growth by expanding the personal care product offering and making targeted acquisitions. We look forward to taking an active part in the further development of ADA Cosmetics.”
ABOUT ADA COSMETICS INTERNATIONAL
Founded in Kehl, Germany, in 1979, ADA Cosmetics is a leading international manufacturer of high-quality hotel cosmetics and accessories. The assortment comprises a large portfolio of in-house brands, ecologically conscious products, renowned international designer brands as well as innovative dispenser solutions and accessories. The Company has a state-of-the art production facility and operates across all aspects of the value chain. Product development and production follow an eco-friendly and sustainable approach. Today, ADA serves more than 15,000 customers through a worldwide sales and distribution network in more than 50 countries. The Company focuses on three, four and five star hotels and hotel chains, such as the famous Brenners Park Hotel & Spa in Baden Baden, the Etihad Towers in Abu Dhabi and the Badrutts Palace in St. Moritz as well as premium hotel chains such as Relais & Chateaux, Steigenberger and Mövenpick.
Ardian, founded in 1996 and led by Dominique Senequier, is an investment company with assets of US$50bn managed or advised in Europe, North America and Asia. The company keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship. Ardian is majority owned by its employees. Indeed 80% of them have chosen to invest in the company, reflecting their confidence in the strategy implemented by the management team.
Ardian maintains a truly global network, with more than 350 employees working through ten offices in Paris, London, New York, Beijing, Frankfurt, Jersey, Luxembourg, Milan, Singapore and Zurich. The company offers its 355 investors a diversified choice of funds covering the full range of asset classes, including Fund of Funds (primary, early secondary and secondary), Direct Funds including Infrastructure, Expansion, Mid Cap Buyout, Ardian Growth, Co-Investment and Private Debt.
ABOUT SCANDINAVIAN AMENITIES A/S
Founded by Peter Nielsen in 1986 and headquartered in Hvidovre (Denmark), Scandinavian Amenities A/S SCANAMENITIES supplies the hotel industry, cruise ships, airlines and resorts with eco-friendly hotel cosmetics and dispenser systems. The products appeal through their world-famous Scandinavian design and combine harmonic, organic form with every-day functionality. With a broad distribution network, the company is especially well positioned in Northern and Eastern Europe. The company is active in more than 25 countries. One of the most successful products is the patented dispenser System ILLI.
ADVISORS TO THE TRANSACTION
Ardian Team: Dirk Wittneben, Marc Abadir, Florian Korp
Legal: Willkie Farr & Gallagher [Mario Schmidt (Partner), Jan Wilms (Partner), Dr. Maximilian Schwab (Senior Associate)]
Financial: Deloitte & Touche [Egon Sachsalber (Partner), Tanja Fehr (Senior Manager)]
Tax: taxess [(Gerald Thomas (Partner), Richard Schäfer (Partner)]