HCapital Partners backs Hoooked

The founding shareholder retained a 35% stake and a stock option plan for top management of up to 10% shares was implemented.

The GP used its HCapital SCA Sicar fund for the transaction, a €44m vehicle that targets the buyouts of SMEs. The fund held its first close in 2014 and is currently deployed at 40%. It invested in four companies, three of which are Portuguese and one is Spanish. HCapital currently has €70m in assets under management.

The new round of funding will be used to improve the company's supply chain management, expand production in Portugal and increase recruitment.

Company
Founded in 2008, Hoooked manufactures, recycles, and sells branded cotton yarn and DIY kits for knitting and crocheting. Its products are exclusively sold online. The company offers yarn products, crochet kits, knitting kits, patterns and accessories such as needles and hooks, bag handles, leather products, and haberdashery products.

Revenues in 2017 were above €4.5m, with an EBITDA of €900,000. The company is headquartered in The Hague, though its production facilities are located in Portugal. The company has 52 employees globally and outsources some production services to 120 workers in Portugal. It exports products to 50 countries. 

People
Hoooked – Geesje Mosies (managing director).
HCapital Partners – Isabel Duarte Lima (founding partner); João Arantes Oliveira (managing partner).

Advisers
Equity – EY (financial due diligence); Abreu Advogados (legal); Baker McKenzie (legal).
Company – PwC (financial due diligence); JanssenBroekhuysen Advocaten (legal); Baker McKenzie (legal).

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• Topics
• Buyouts
• Benelux
• Consumer
• Netherlands