Carlyle acquires ADA Cosmetics

Diana Petrowicz
04 April 2011

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Private equity house Carlyle Group has acquired a majority stake in German provider of hotel cosmetics, ADA Cosmetics from Halder, in a secondary buyout for an undisclosed amount. The investment was made from Carlyle's European growth capital fund CETP II.

The deal emerged through the investor's adviser network in Germany. Carlyle was attracted to the high quality of the products, the talented management team and the broad customer base. The capital will be used for geographic expansion of the company. The management will retain a minority stake.

Previous funding
Halder acquired ADA Cosmetics through a management buyout from its founding family in 2006.

Debt
No details regarding the debt structure were provided.

Company
Kehl-based ADA Cosmetics was founded in 1979 and is a supplier of cosmetics and accessories for the hotel industry. Products are offered to premium hotels in Europe, Asia and the Middle East. The company had a turnover of €43m in 2010 and currently employs about 270 people.

People
Fabian Walesch managed the deal for Halder. Michael Wand and Thorsten Dippel represented Carlyle Group.

Advisers
Equity – CMS (Legal); PricewaterhouseCooper (Financial due diligence).
Vendor – DC Advisory Partners, Sascha Pfeiffer, Moritz von Bodman, Steffen Keinath, Eike Dickmann, Frankfurt (Corporate Finance); Ernst & Young, Dr Robert Wienken, Claudia Dedio, Michael Adolf, Jörn Rackwitz Transaction Advisory Services, Frankfurt (Financial and Tax Due Diligence); Otto Mittag Fontane, Dr Thomas Hofacker, Dr Hans-Jochen Otto, Dr Gabriele Fontane, Ivo Dreckmann, Frankfurt (Legal).