Explorer sells Brandcare to Sodalis Group

The deal comes after a three-year ownership period. The GP initially backed the company's founding, which followed the acquisition of several well-known brands from US-based corporate Colgate-Palmolive. Explorer subsequently boosted the strengthening of the company's management team and sales department, as well as backed the company's expansion through additional acquisitions.

In 2015 the company entered the laundry care market through the acquisition of Portuguese businesses Mistolin, Fascinante and Starlim.

The deal is subject to competition authority approval and is expected to close during H1 2017.

Previous funding
The GP acquired a stake in the business in 2013 through its third vehicle Explorer III, a 2009-vintage which closed its fundraising on €270m in May 2011.

Company
Established in 2013 and headquartered in Lisbon, Brandcare operates in the personal and home care segments through several brands including Super Pop, Javisol, Cristasol, Feno de Portugal, Xanpa, Fascinante and Mistolin.

The company posted a turnover of €11.7m in 2015.

People
Explorer Investments – David Calem Ferreira (partner).
Sodalis Group – Fabio Granata (founder, CEO).

Advisers
Vendor – GBS Finanzas (M&A); CMS Rui Pena & Arnaut (legal).
Buyer – Vitale & Co (corporate finance); PwC (commercial due diligence); Linklaters (legal).

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