SVP partially exits Jeyes to Henkel

The deal will see Henkel acquire the Jeyes, Parozone and Bloo brands for an undisclosed sum.

Under the vendor’s five-year tenure, the business has been restructured and is now in a profitable position, according to a statement released by SVP. However, publicly available records show the firm generated gross profits of £11.8m, with losses on ordinary activities of £4.2m.

Previous funding
LGV Capital formed a joint venture with IWP International in September 2002 to support the spinout of IWP’s household products division, which was subsequently rebranded as Jeyes. The transaction valued the business at €134.2m, with LGV investing €30m to acquire a 44% stake in the business.

SVP then acquired a minority stake in Jeyes from LGV in October 2011 for an undisclosed sum. The GP has since acquired a majority shareholding in the business.

Company
Founded in 1877 and headquartered in Thetford, Norfolk, Jeyes manufactures and distributes domestic cleaning products. The group’s brands include Jeyes, Parozone, Bloo and Easy, though it also distributes retailer-branded products.

The business generates a turnover of £54.8m, according to publicly available records, down from £75m at the time of SVP Global’s initial investment.

People
Strategic Value Partners – Victor Khosla (founder).
Jeyes Group – Michael Teacher (chairperson).

Advisers
Vendor – Baylor Klein (corporate finance).

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• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Trade sale