AURELIUS sells Scandinavian Cosmetics Group to Accent Equity
* Significant increase in revenues after a successful carve-out, sustainable operational improvements and strategic add-on acquisitions
* Successful transformation into a leading Nordic brand management company
* The buyer, Accent Equity, will support Scandinavian Cosmetics in its next growth phase
Munich, October 10, 2019 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) has agreed to sell its subsidiary Scandinavian Cosmetics Group to the Nordic investment fund Accent Equity 2017. The transaction is conditional on approval from the competion authorities, and closing is expected to occur in the fourth quarter of 2019.
Significant increase in revenues after a successful carve-out, sustainable operational improvements and strategic add-on acquisitions
AURELIUS had acquired Scandinavian Cosmetics as part of activities acquired from Swiss Valora Group. AURELIUS successfully carved-out the business from its former owner and subsequently established Scandinavian Cosmetics as one Nordic group by implementing a common management structure and entering Denmark and Finland. Efficiency improvement and business development projects have been initiated leading to profitable growth. Under AURELIUS’ ownership the company has continued its transformation from a distribution-focussed business into a leading brand management company, covering all aspects of the value chain from brand building, digital and traditional marketing to category management and distribution. It covers all relevant distribution channels, in particular perfumeries, drug stores, upmarket department stores, and online stores.
The add-on acquisitions of Solis AS and Alf Sörensen AB in July 2018 strengthened the market position of Scandinavian Cosmetics Group as the largest manufacturer-independent luxury and consumer brand management company in the Nordics. Today the company has a well-defined strategy for organic growth and proven M&A capabilities for further add-on acquisitions.
On the basis of these measures, revenues increased by 25 percent under AURELIUS ownership.
The buyer, Accent Equity, will support Scandinavian Cosmetics in its next growth phase
Accent Equity has a broad experience of growing businesses in different industries and sectors, and is well positioned to support Scandinavian Costmetics Group in growing internationally – organically and through add-on acquisitions. The company’s continued development is supported by the highly experienced management team, the strong position in the Nordic market and the company’s unique position in the value chain.
On this transaction, AURELIUS was advised by ABG Sundal Collier (M&A), PWC (Transaction Services and Tax) and Vinge (Legal).