Vendis backs Humanoid BIMBO

As part of the transaction, van Dormael will take over as CEO from founder Hans Boelens. Prior to her appointment, van Dormael held roles at other retailers including Hoevelaken-based Euretco, divested by Avedon Capital Partners to corporate EK/Service in April.

Meanwhile, Humanoid's second founder Sandra Harmsen will stay on board as creative director and oversee the company's brand and market positioning.

The amount deployed by Vendis during the BIMBO remains confidential. However, unquote" sources confirmed it lies within the €5-15m equity ticket the GP typically provides.

The acquisition of Humanoid is the last to be financed via the retail specialist's €115m first fund. Launched in parallel with Vendis's foundation in October 2009, Vendis Capital I is now closed for new investments after having backed nine companies. Eight of these are still in the portfolio, as retail chain ZEB was divested to strategic buyer Colruyt Group in June 2014 – the exit was Vendis's first since inception.

According to the GP, its interest in Humanoid stems from the retailer's position in the affordable luxury fashion space. The GP was introduced to the business via intermediaries and then engaged in direct negotiations, which took around four months, unquote" understands. 

Debt
The takeover was financed with a senior debt facility.

Company
Established in 1981, Humanoid is a womenswear fashion brand targeting the affordable luxury segment. Headquartered in Arnhem, where its flagship store is located, the retailer sells its products online and via physical boutiques across 25 countries.

People
Vendis's work on the deal was coordinated by partner Michiel Deturck. Humanoid was co-founded by Sandra Harmsen and Hans Boelens, while Yvonne van Dormael is the company's new CEO.

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• Topics
• Benelux
• Buyouts
• Consumer
• Netherlands
• Vendis Capital