Investcorp buys Georg Jensen for $140m

Since 2001, Georg Jensen was wholly-owned by Royal Scandinavia, which is owned by Axcel Capital Partners. Axcel held 70% of the company, while the remaining 30% were held by FIH, LD and PKA.

 

The deal was set up through a limited auction process run by Rothschild.

 

Company
Georg Jensen is a Danish luxury manufacurer of jewellery, watches and silver and homewares. Founded in 1904, the company has three headquarters in Copenhagen, Hjørring and Chiang Mai. Georg Jensen operates 94 fully-owned stores and has three franchised businesses globally.

 

In 2011, the company's turnover amounted to $160m.

 

People
European corporate investments head Hazem Ben-Gacem led the deal on behalf of Investcorp. Investcorp will name David Chu, founder of Nautica, as new chief creative director and co-chairman of the board. Guy Leymarie, former CEO of DeBeers Diamond Jewellers, Cartier International and Dunhill, will join the company's board. The company's management team will continue to be led by Ulorik Garde Due, who has held the position as CEO since 2007.