Saalfrank Qualitätswerbeartikel GmbH (Germany) - Oct 2007

unquote
01 October 2007

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AVIDA Group has acquired Saalfrank Qualitätswerbeartikel GmbH from Primondo GmbH, a subsidiary of Arcandor AG (formerly KarstadtQuelle AG), for an undisclosed amount. Close Brothers was mandated to run the sale process. AVIDA made the investment via its AVIDA MidCap Fund GmbH & Co. KG. The financial investor is looking to grow the company organically as well as through strategic acquisitions in Germany and adjacent markets.

Debt

NordLB provided the acquisition finance facility.

Company

Saalfrank is a mail order company, specialising in the sale of individualised promotional items. The offering ranges from low-priced articles such as pens and calendars up to high-priced branded goods. It promotes its articles under the brands ‘Saalfrank’ and ‘Just for Fans’ in Germany and is also active in several adjacent countries. Founded in 1973 and headquartered in Sennfeld near Schweinfurt, Saalfrank has been part of KarstadtQuelle AG (today Arcandor AG) since 1991. Primondo decided to sell Saalfrank as part of the strategic realignment of its specialty mail order business division. In 2006, Saalfrank reported revenues of approximately €14m, while employing 56 staff.

People

Peter Folle, Dr Anthony Bunker and Nicolas Rädecke handled the transaction for AVIDA. Colmar Dick worked on the debt package at NordLB.

Advisers

Equity - BPG Corporate Finance, Andreas Hoffmann, Klaus Wenzel (Financial Due Diligence)Equity - Clifford Chance, Dr Klaus Grossmann , Jan Möller, Jana Bartosch-Koch (Legal)Vendor - Close Brothers Corporate Finance , Moritz von Bodman, Sascha Pfeiffer (Corporate Finance)

Sourced from: Deutsche unquote" 93 (Nov 2007)