3i announced the appointment of Dr Thorsten Grenz verstärkt as operating partner to its pan-European buyout team in Frankfurt. Together with fellow partners Tim Harrison and Iain McRitchie in London, Jerome Girzsyn in Paris and Frederik Roth in Frankfurt, Grenz will focus on investments in companies with significant potential to optimise the capital structure and overall operational performance. The transaction values of this kind of buyouts will be between EUR 100m and EUR 1bn.
Fund targets companies active in the ready-to-wear, cosmetics, jewellery, accessories, health and lifestyle sectors
This is Cinven VII's third acquisition following the purchase of LGC and Thyssenkrupp Elevator
Buyer is wholly acquiring the company for a debt-free purchase price of around €13.6m
Round follows the company's €24m series-D in November 2019, also backed by Wellington and HBM