
Vendis Capital invests in Sylphar
Belgian PE firm Vendis Capital has invested in over-the-counter drugs producer Sylphar, taking over from Concordia Fund.
Company founder Robin List and his management team are investing alongside the GP.
Sylphar was previously backed by Concordia Fund, a Dutch private equity firm launched in 2007 in the Hague. Concordia had backed the group since its inception in 2008.
It is the sixth investment made from Vendis Capital II, which the GP closed on its €180m hard-cap in May last year.
Vendis kickstarted the fund's deployment in January last year as it acquired a majority stake in fashion brand Petrol Industries. Other investments include Ferm Living, Legio Groupe and Noppies, all completed in 2016. Vendis Capital II targets mid-market consumer-focused companies with sales in the region of €10-120m, and investment tickets usually ranging between €5-40m.
With Vendis's backing, Sylphar said it would aim to build a small portfolio of strategic niche brands that could take leading position in their respective categories and geographies, organically or through acquisitions.
Company
Founded in 2008 by Robin List as a spinout from a listed dental company, Sylphar is a pharmaceutical company producing over-the-counter drugs and products used for oral therapy and medicated skincare. The company offers teeth whitening products under the iWhite brand, skin condition products under the Remescar brand, and oral therapeutics under the Herpatch and Shur brands.
Headquartered in Deurle, Belgium, Sylphar sells its products in European countries including Spain, the UK, Germany, France, Italy and eastern European locations. The company employs 25 people.
People
Concordia Fund – Saskia van Walsum (partner).
Vendis Capital – Cedric Olbechts (partner).
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