Aurelius UK Newsletter September 2017
We are pleased to update you on Aurelius’ most recent news and developments which include our investment activities, financial results and continued progress in our UK business. The key highlights so far this year include new acquisitions, exits and a robust deal pipeline.
News and developments in the UK
Continued progress in 2017 with the announcement of two new acquisitions, which follow the five acquisitions we completed in 2016 (Colt Managed Cloud, Abelan North, Calumet International, Working Links and The Hospital Group):
- Acquisition of the European business activities of the US-based Office Depot Inc. Office Depot Europe, which operates in 14 countries across the UK and Europe and has approximately 6,500 employees and revenues of c.£1.7bn. » Read Announcement
- Acquisition of Wex Photographic from Barclays. Wex is the UK’s largest online specialist photographic retailer, with an annual turnover of £70m. Wex will be merged with Calumet, a multi-channel photographic retailer we acquired last June. » Read Announcement
- Disposal of Getronics to strategic investor Bottega InvestCo Sàrl for €220m (the largest exit in Aurelius’ history). Under Aurelius’ ownership Getronics’ geographic presence and product portfolio were expanded through 5 acquisitions including Colt Managed Cloud last April. With 4,500 employees, the Getronics Group generates revenues of EUR 500 million in 20 countries on three continents. » Read Announcement
- Disposal of Regain Polymers to Imerys Group, a world-leading supplier of mineral-based specialty solutions headquartered in France. » Read Announcement
- In June Aurelius was awarded “Turnaround of the Year” at the prestigious TMA Europe Debtwire Award Event in London in June and in March Aurelius was recognised at the Private Equity International Awards.
Furthermore, we are very pleased with the continued growth of the Aurelius team in the UK following the appointment of a number of new joiners.
News and developments at Aurelius Group
Positive outlook from Aurelius CEO Dr Dirk Markus: "We are very optimistic about the second half of the year, our current portfolio is performing very well and we continue to see great interest on both the acquisitions side and the sales side."
- H1 results for 2017 reported consolidated revenues of €2,282.9m (+66% y-o-y), EBITDA of €303m of which operating EBITDA was €75.7m, net cash of €256.3m and Net Asset Value of €1,475.6m. » Read Announcement
- Acquisition of the Silvan retail chain of Stark Group A/S, a subsidiary of Wolseley plc. Headquartered in Aarhus, Silvan is the leading DIY chain in Denmark. It generates €220m in revenues and has 1,400 employees. » Read Announcement
- Acquisition of Privilège, a French catamaran builder, with a shipyard in Les Sables-d’Olonne. Following the acquisition our HanseYachts business will market 7 world-renowned sailing boat and motor yacht brands. » Read Announcement
- Disposal of SECOP to the Nidec Group of Japan for €185m (the second largest exit in Aurelius’ history). We originally acquired the Household Compressors division of the Danish Danfoss Group in 2010, following which we implemented a performance improvement programme, transforming SECOP into a profitable high-tech niche operator focusing on energy-efficient compressors. Scale was augmented by the acquisition of Austrian compressor manufacturer ACC Austria in 2013. » Read Announcement