Transaction Details

July 25, 2014
Frankfurt

Sector

Consumer, Retail, E-commerce and Leisure, Business Services

Deal Type

M&A

Deal Team

Sascha Pfeiffer, Raiko Stelten, Fabian Gehlhaar

Sale of ADA Cosmetics to ARDIAN

GCA Altium acted as exclusive financial adviser to the global alternative asset manager The Carlyle Group (NASDAQ: CG) and the management team on the sale of ADA Cosmetics, a German supplier of premium hotel body care products and amenities, to ARDIAN, one of the leading private equity investors in Europe with US$47 billion of assets managed or advised.

Sascha Pfeiffer, Managing Director of GCA Altium, said: “This transaction exemplifies GCA Altium’s strong position in the relevant private equity community. We approached a limited number of potential investors and crafted a very focused M&A process and successfully completed this buyout in less than four months. In addition, this transaction demonstrates our strong competence in the health & beauty sector: After Douglas and LR Health & Beauty Systems, ADA Cosmetics marks the third transaction in this sector in less than two years.”

Since Carlyle’s 2011 investment, ADA Cosmetics has seen solid organic revenue growth of c. 20% to over €50 million and increased its EBITDA by c. 70%. The company also strengthened its strategic position through investments in Asia and the Middle East and by winning new brands like Hermès. Equity for this investment came from Carlyle Europe Technology Partners (CETP) II, a €530 million growth capital fund that closed in November 2008.

ADA Cosmetics is the largest supplier of cosmetics and amenities to premium hotels in Europe with growing presence in Asia and the Middle East. ADA Cosmetics supplies over 15,000 hotels globally including high-end chains such as Relais & Châteaux, Steigenberger, Shangri-La and Mövenpick as well as world-renowned signature hotels (e.g. Brenners Park Hotel in Baden-Baden, Etihad Towers in Abu Dhabi and, Badrutt’s Palace in St. Moritz). The company has a uniquely broad brand portfolio consisting of proprietary brands (e.g. Hydro Basic, Fair Trade or Naturals) as well as licensed luxury brands including Bulgari, Chopard, Hermès and Trussardi.

GCA Altium acted as sole financial advisor to The Carlyle Group. Terms of the transaction were not disclosed.

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