Ardian’s ADA Cosmetics bolts on Scanamenities

ADA stated the purchase would facilitate growth in the Scandinavian market and provide synergies in production. The deal was financed from ADA's balance sheet and a moderate amount of debt from DZ Bank, Commerzbank and NIBC Bank.

The Scanamenities brand will remain in use, although the company itself will be integrated into ADA Cosmetics following the transaction.

Ardian's strategy for ADA is to grow the company across Europe, the Middle East and Asia through bolt-on acquisitions. It will also develop new distribution channels.

Previous funding
Ardian acquired German hotel cosmetics provider ADA Cosmetics in July 2014 as part of a management buyout. The deal marked Ardian's eighth investment from its Expansion Fund III, which closed in March last year on €450m, with the ability to take on up to €50m in co-investments.

Company
Headquartered in Hvidovre, Scanamenities manufactures and sells toiletries and accessories to hotels, vacation resorts, cruise ships and airlines. Founded in 1986, the company is active in around 25 countries worldwide. It has also patented the ILLI pump dispensing system for its products.

Founded in 1979 in Kehl, ADA manufactures and sells personal care products including shampoo, body lotion and soap for the hotel industry, airlines and cruise ships. ADA has approximately 300 employees across seven subsidiaries in Europe, Asia and the Middle East, as well as a global distribution network. ADA expects to generate €60m in turnover in 2015, up from €53m in 2014.

People
Wilhelm Könning is managing director of ADA. Stefan Schmidt and Peter Nielsen are co-founders and co-managing directors of Scanamenities. Dirk Wittneben is managing director at Ardian and was supported on the deal by Marc Abadir and Florian Korp.

Advisers
Equity – Willkie Farr & Gallagher, Mario Schmidt, Jan Wilms, Maximilian Schwab (Legal); Deloitte, Egon Sachsalber, Tanja Fehr (Financial due diligence); taxess, Gerald Thomas, Richard Schäfer (Tax).

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• Topics
• Nordics
• Consumer
• Portfolio management
• Germany
• Denmark
• Ardian (formerly Axa PE)