Portfolio companies

Historic portfolio

20:20mobile

20:20 Mobile

20:20 Mobile Group was acquired by Fund IV in September 2006.

20:20 is one of the largest European distributors of mobile phones products and provider of business process outsourcing services to the mobile telecommunications industry. 20:20 Mobile is an authorised distribution partner for most leading handset manufacturers and provides products and services to over 8,000 customers including network operators, retailers, online merchants, dealers, distributors and insurance providers. Founded in 1987, it employs over 1,200 people in 14 countries.

20:20 Mobile Group is the market-leading distributor of mobile handsets in the UK, Spain and Sweden, following the July 2007 acquisition of Axcom. The group also has operations in Denmark, Finland, Hong Kong, Hungary, Germany, the Netherlands, Norway, Poland, Portugal, Romania, and the United Arab Emirates.

In February 2014, 20:20 was sold to Brightstar Corp.

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APCOA - The World of Parking

Apcoa

DH acquired Apcoa in December 1991.

Apcoa is a European leader in car park management, including airport and city parking sites as well as on-street parking supervision.

Under DH's ownership, Apcoa had operations in Germany, Austria, UK, France, Italy and Holland.

Apcoa floated on the Frankfurt Stock Exchange in June 1995.

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ATU - Die Nr.1 Meisterwerkstatt

A.T.U

In July 2002, DH acquired a majority stake in A.T.U from its founder.

A.T.U is the leading independent niche vehicle parts and service auto centre in Germany. The company was founded in 1985 and at the time of divestment operated 600 branches in Germany, Austria, the Czech Republic, the Netherlands and Switzerland.

A.T.U’s unique business model is based on the retail sale and fitting of car parts and accessories for all brands of cars. The company operates its own logistics services and supports its branch network through state-of-the-art distribution centres.

In August 2004, DH sold its stake in A.T.U to KKR and subsequently became a minority investor. In February 2010, DH sold its remaining shares in A.T.U to KKR.

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Avanza Grupo

Avanza Group

Avanza Group was acquired by Fund V in February 2007.

It is the largest independent bus operator in Spain, with a market-leading presence in the urban, suburban and intercity segments. Avanza Group is also Spain’s largest operator of bus stations.

Since DH acquired the group, Avanza has successfully completed several follow-on investments including CTSA Portillo in November 2007, Alosa in May 2008, two concessions in Southern Madrid in 2010 and two concessions in Northern Madrid in 2011. These acquisitions have reinforced Avanza’s market-leading positions in the high growth Urban and Suburban segments while increasing regional diversification.

In July 2009 Avanza extended its reach in the Zaragoza area when construction and operation of the city’s new tramway was awarded to an Avanza-led consortium. This long-term concession, which expires in 2043, will connect the north and south of the city through 13km of railway track and is expected to carry more than 30m passengers per year.

In August 2013, Avanza Group was sold to Grupo ADO of Mexico.

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Balta - HOME OF DECORATION

Balta

Balta is the European market leader in wall-to-wall carpets and a global leader in mechanically-woven rugs. Balta also has significant and growing market positions in carpet tiles. The combination of rugs and carpet tiles are complementary to wall-to-wall carpet production and provides a stable portfolio effect. The company manufactures in Belgium and Turkey and operates a warehouse in the US. It sells its products across Europe, the Americas and Asia. Balta is vertically integrated for the purposes of yarn production.

In 2010, Balta further consolidated its European leadership position through the acquisition of the Domo floor covering business (“Domo”) from the family-owned Domo Group. In 2013, Balta divested its 50% interest in the laminate joint-venture Trinterio to IVC NV to further concentrate on growing its complementary portfolio of market leading soft flooring activities.

In August 2015, Balta was sold to Lone Star Funds.

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Dunlop Standard - Aerospace

Dunlop Standard Aerospace

The company was acquired by DH in October 1998.

Dunlop Standard Aerospace was the largest independent engine repair and overhaul company in the world for commercial, regional, military and business aircraft engines. It also supplied wheel and braking systems, engine components and rubber seals for a variety of aircraft.

It was sold in August 2004 for US$1.45 billion to a consortium of Meggitt of the UK and The Carlyle Group. Meggitt retained the Dunlop Aerospace Design and Manufacturing division, while Carlyle took the Standard Aero division.

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Elexis - vision for evolution

Elexis

Elexis was acquired by DH from Daimler Benz/AEG in December 1995.

At the time of the acquisition, Elexis was a technology group with two business divisions: Factory Automation Steel and Printing; and a division focusing on Factory Automation Plastics. The former concentrated on machine vision systems, control systems and new technologies in the field of quality assurance systems. The latter was a leading supplier of automated handling systems (robotics) for plastic injection moulding machines.

The company was floated on the Frankfurt Stock Exchange in May 1999 with a market capitalisation of €64.4 million.

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Eurofiber

Eurofiber

Eurofiber was acquired by Fund V in May 2012 from Reggeborgh, an investment vehicle of the Wessels family. Reggeborgh continues to hold a significant minority stake in Eurofiber. 

Founded in 2000 and headquartered in Maarssen in the Netherlands, Eurofiber owns and operates a state of the art fiber network spanning over 10,000km and connecting over 10,000 unique locations. All telecom providers, system integrators and service providers can deliver their services to end users using Eurofiber’s infrastructure-only network. 

Eurofiber is one of only two companies in the Netherlands that has sufficient nationwide coverage to target major nationwide contracts. With more than 25% of Dutch internet traffic and 50% of Dutch mobile traffic, waterways and electricity management information transported over Eurofiber’s network, the Company continues to dynamically expand its coverage, driven by strong demand for fiber. 

In 2013, the Company completed two add-on acquisitions in the Netherlands, expanding its network by over 1,000km. In May, Eurofiber acquired UNET, a regional fiber network in Almere, followed by the acquisition of Isilinx, a regional fiber-only network in Limburg serving the enterprise and not-for-profit market, in June.

In May 2015, Eurofiber was sold to Antin Infrastructure Partners.

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Selenia Fluids & Lubricants

FL Selenia

FL Selenia was acquired by DH in April 2000, the same year it acquired Viscosity Oil. This allowed FL to become a world leader in the manufacturing of oils for the agricultural industry.

At the time of the acquisition, FL Selenia was the largest independent blender and distributor of automotive lubricants in Europe and South America.

It supplies lubricants and functional fluids (for example, anti-freeze) for cars, trucks, tractors and earth-moving equipment, as well as for industrial lubrication.

The company was sold in October 2003 to Vestar Capital Partners for €670 million.

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Geberit

Geberit

Geberit was acquired from the Gebert family in March 1997 for a transaction value of more than SFr1.8bn. DH investors provided the entire institutional equity for the transaction and arranged the first ever DM denominated high-yield bond to complete the financing.

Geberit is the leading supplier of sanitary installation systems in the German-speaking markets of Europe with an estimated market share of over 50%. It is based in Jona, Switzerland.

In June 1999, Geberit was listed on the Zurich Stock Exchange.

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HellermannTyton

HellermannTyton

DH’s Fund IV acquired the business in February 2006.

HellermannTyton (HT) is a market leading global manufacturer and supplier of high-performance and innovative cable management solutions. Headquartered in the UK and with operations in 34 countries, HT operates world class production facilities in 12 primary locations across 10 countries, which are located close to end customers to maximise presence and responsiveness.

HT’s systems and solutions are used for fastening, identifying, insulating, protecting, organising, routing and connecting components. HellermannTyton’s two largest end markets are the electrical and automotive industries. In addition the company supplies into the datacom market. The company has an extensive product range with over 20,000 products.

HellermannTyton was listed on the London Stock Exchange (symbol “HTY”) in March 2013, at £1.95 per share. The total size of the offering was £227m and resulted in a free float of 54.0%. DH exited its remaining interest in HellermannTyton via two placings in September 2013 and March 2014.

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Impress

Impress Holdings

Impress was a Fund II acquisition in May 1997. Fund III subsequently invested in the group in February 2000 when Impress made two significant acquisitions in France and the US.

The group is a global market leader in the consumer metal packaging industry. Headquartered in the Netherlands, Impress employs approximately 7,500 people across 57 production facilities in 22 countries and five continents.

Impress can trace its roots back to a 19th-century tin can company and has established a number of patents including, in 1949, the first aerosol can. It was created in its current form by DH through the merger of the metal packaging businesses formerly owned by Pechiney (France) and Schmalbach-Lubeca (Germany) in 1997. In 2000 Impress acquired Fermbal in France and Heinz’s can-making facilities in the US.

Since 2000 the Company has made a further ten acquisitions, in Western and Eastern Europe, Canada, Australia and New Zealand. The acquisitions have expanded Impress’ geographic footprint and strengthened the product portfolio.

In December 2010, Impress was sold to Ardagh Glass for €1.7bn.

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Knowles Electronics

Knowles Electronics

Knowles Electronics was acquired by DH in June 1999.

Since its foundation in 1946, Knowles has used its core competency in acoustic technology to build expertise in hearing aid transducers and low voltage integrated circuit design, electronic controls and sensors, and precision manufacturing. Under DH's ownership it had facilities in seven countries spread over North America, Europe and Asia, with its largest operations located in the United States, China and Malaysia.

It was sold in September 2005 to the Dover Corporation for US$750 million.

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LM Wind Power

LM Wind Power

LM Wind Power is the world’s leading supplier of wind turbine blades and services to the wind industry. The company has a global footprint and is a valued partner in established and emerging markets all over the world. This global reach ensures close contact to international customers and enables the group to minimise transport and logistics costs, shorten delivery time and reduce working capital requirements.

LM Wind Power works closely with customers to reduce the cost of energy and continues to invest in research and development. Test facilities and an in-house wind tunnel, is part of the LM Wind Power global technology centre, and ensures that turbines fitted with LM blades continue to generate ever more power.

In more than 35 years, LM Wind Power has produced over 185,000 blades ranging from 5.0 to 88.4 meters and continues to establish a strong position among the world leaders in the growing wind power industry.

In April 2017, LM Wind Power was sold to GE for an enterprise value of €1.5 billion.

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Moeller - We keep power under cantrol

Moeller

DH acquired a majority stake in Moeller in September 2005.

At the time of the investment, Moeller was one of Europe’s largest suppliers of systems and components concerned with power distribution and automation in industrial, infrastructure and residential building applications. The company enjoyed number one positions in Austria, Norway, Poland, the Czech Republic and Romania and was the third largest supplier to the German market.

Moeller‘s global sales network included 31 sales subsidiaries with over 350 sales offices in more than 90 countries. The business was headquartered in Bonn and operated 15 production facilities worldwide.

The majority of Moeller’s products are safety critical and to a large extent fall under regulated standards. Key products include circuit breakers, command and control devices, motor starters and drives.

In April 2008, Moeller was sold to global power distribution giant Eaton Corporation for €1.6bn.

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Membership Group Inc

NAMG

North American Membership Group (“NAMG”) was acquired by DH in October 1999.

Based in Minnetonka, Minnesota, NAMG is an affinity marketing organisation which successfully combines membership, publishing and merchandise marketing into one business.

NAMG caters to enthusiasts who pay membership dues in exchange for club benefits, which include a monthly magazine and access to proprietary books, videos and events.

It also operates special interest fan clubs including the North American Fishing Club, Handyman Club of America, National Home Gardening Club, PGA TOUR Partners Club, Cooking Club of America, Creative Home Arts Club and the History Channel Club.

The company was sold in July 2007.

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Norit - leading in purification

Norit

Norit was acquired by DH in June 2007.

Norit was founded in 1918 and is a global supplier of water and air purification technologies.  At the time of the acquisition, the company was managed centrally and operated through two divisions: Activated Carbon and Clean Process Technology.

Norit’s Activated Carbon products are widely used to remove pollutants, contaminants and other impurities from water, air, and other liquids and gases in an efficient and cost-effective manner. The Clean Process Technology business focuses on purification and filtration systems for the water and beverages markets as well as the food and chemical industries.

Norit has a global footprint with international manufacturing presence and a distribution network and service support in more than 150 countries.

In May 2011, Norit’s Clean Process Technology division was sold for €503m. In June 2012, Norit Activated Carbon was sold for $1.1bn.

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Priory

Priory

Priory was acquired by DH in June 2002. At the time of the acquisition it was the largest independent provider of mental health and rehabilitation services in the UK.

Under DH's ownership it had a national presence with over 42 locations, over 2,000 beds and a staff complement approaching 4,500.

The company had hospitals providing acute psychiatric services covering conditions such as addictions, eating disorders and depressive illness.

It also ran specialist schools and adolescent psychiatry units as well as centres treating patients with acquired brain injuries. The group operated a number of low and medium secure units for people with enduring mental illness.

Priory was sold in July 2005 in a transaction valued at £875m.

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Quiron - Grupo Hospitalario

QUIRON

USP Hospitales (“USP”) was acquired by Fund V in April 2012.

A minority stake of Grupo Hospitalario Quiron (“GHQ”) was acquired by Fund V in July 2012. At the same time, Fund V reached an agreement with the Cordón Muro family (founding family and majority shareholders of GHQ) for the exchange of their controlling interest in GHQ into a company through which Fund V and the Cordón Muro family controlled USP and GHQ, thereby creating one of Spain's largest private hospital groups.

The Fund V investment in USP and GHQ resulted in a majority shareholding in the combined entity.

Headquartered in Madrid, USP is the third largest private hospital operator in Spain with 12 hospitals, 1 specialist clinic and 22 auxiliary clinics (over 1,200 beds). Headquartered in Madrid and Barcelona, GHQ is the fifth largest private hospital operator in Spain with 7 hospitals (over 1,000 beds) and 2 fertility treatment centres. Both GHQ and USP are focused on the provision of hospital services to the private insurance and self-pay segments. Both companies cover the wealthiest areas of the country and specifically have a strong presence in Barcelona, Madrid and Seville. The USP-GHQ combination offers a comprehensive range of services covering all medical specialties, with a particular strength in trauma, gynaecology, oncology, cardiology, neurosurgery and internal medicine.

Spain’s private healthcare sector is highly fragmented and USP offers a unique platform to create a larger hospital group and deliver the best possible care to private patients.

In November 2014, Quiron was sold to a holding company controlled by funds advised by CVC Capital Partners for an undisclosed amount.

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RHM

RHM

Originally founded in 1899, RHM was acquired by DH in 2000.

The RHM Group had long been established as one of the leading food manufacturing groups in the UK.

With operations in the ambient, chilled and frozen food categories, RHM supplied customers in the food retailing, fast food and foodservice channels from a portfolio of brands with leading market positions.

RHM was listed on the London Stock Exchange in July 2005.

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Saft

Saft

Saft was acquired by DH in January 2004.

It is a market-leading manufacturer of high-end batteries for a wide range of niche applications, including aviation, railway, industrial stand-by, defense and emergency lighting.

Under DH's ownership, Saft was organised into three divisions – Industrial Battery Group, Speciality Battery Group and Rechargeable Battery Systems – and operated through 14 manufacturing plants in Europe, North America and Israel.

The company was listed on Euronext Paris, in June 2005.

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Tag Heuer

Tag Heuer

TAG Heuer International SA was acquired by DH in 1995 leaving the former owner and management with significant equity ownership.

Located in Neuchatel, Switzerland, it is one of the world’s leading producers of prestige sports watches. The company has demonstrated an exceptional record in developing its brand image.

In September 1996, the company was successfully listed on the New York and Zurich stock exchanges with a market capitalization of SF 1,141million. TAG Heuer was acquired subsequently by luxury goods group, LVMH, in November 1999.

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Tarkett

Tarkett

Tarkett was acquired in 1994 from Stora AB.

Based in Frankenthal, Germany, at the time of the acquisition it was Europe's largest manufacturer of resilient and hardwood flooring.

After the acquisition, the management undertook an investment programme, which saw a factory reorganisation and the establishment of new plants in Poland and the US.

In June 1995, Tarkett was successfully listed on the Frankfurt stock exchange and in May 1997 it was merged with Sommer-Allibert, a leading French flooring manufacturer.

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Tornos

Tornos

Tornos was acquired in January 1999. At the time of the acquisition it was a world-leading manufacturer of high performance automatic lathes for the production of precision-turned parts.

Tornos was listed on the Zurich Stock Exchange in March 2001.

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Tumi

Tumi

Tumi was acquired from the founding family, shareholders and Oaktree Capital Management by Fund IV in November 2004.

Tumi is a global, premium lifestyle brand whose products offer superior quality, durability, functionality and innovative design. The company offers a comprehensive line of travel and business products and accessories in multiple categories, building on a strong heritage of producing high-end performance travel goods and business cases. Tumi’s products are sold in more than 75 countries through approximately 1,700 points of distribution, including company-owned retail stores, third parties and e-commerce channels.

Working with DH, Tumi has significantly grown its presence in the Asia Pacific region. Accelerating the further roll-out of Tumi’s retail channel has been another major area of focus, with the number of stores having more than doubled globally since 2004. Product innovation also continues to be a key area of focus and the DH team has worked extensively with Tumi’s management to accelerate product development lead times.

DH and Tumi have also been focused on operating responsibly. For example, Tumi has become a member of the Fair Labor Association and joined the Leather Working Group. These initiatives ensure that all of Tumi’s partners and suppliers comply with employee safety and working conditions standards, and institute programs that are more environmentally responsible.

Tumi was listed on the New York Stock Exchange (symbol “TUMI”) in April 2012, at $18 per share. Following Secondary Public Offerings in November 2012, March 2013 and September 2014, DH’s ownership of Tumi has been further reduced to 13%.

Samsonite and Tumi announced on 3 March 2016 that they have entered into a definitive agreement whereby Samsonite will acquire Tumi for US$26.75 per share in an all cash transaction, valuing Tumi at an equity value of US$1.8 billion. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second half of 2016, subject to the receipt of approvals by Samsonite and Tumi shareholders, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.

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TV3

TV3

Fund IV acquired TV3, the only privately owned terrestrial free-to-air national commercial television channel in the Republic of Ireland, from CanWest, ITV and a consortium of private investors in August 2006. It is now a multi-channel digital media group, with its own Sony HD studio and a diversified revenue base.

TV3 provides viewers with a wide range of programming across the entire schedule, including soaps, drama, news and premium sport and is the market leader in the critical audience segment of 15 – 44 year olds. Despite the entry into the market of numerous new digital channels since 2006, TV3 has grown audience, driven by home programming now up to c. 40% of total output from 20% at acquisition.

Revenues are derived from advertising during commercial breaks in programming, sponsorship and promotions, as well as certain programming and interactive applications.

In 2008, TV3 acquired Channel 6, which has seen its audience share increase by c. 90% since being rebranded as 3e. DH has also helped the company’s management successfully to develop its online business TV3.ie into the fastest-growing website in Ireland currently receiving 3.5 million page views per month.

In 2011 TV3 launched its innovative 3player which shows more than 1 million videos per month. In 2013, TV3 opened its new HD studio in partnership with Sony, which gives great opportunity to make programmes for sale abroad.

In December 2015, TV3 was sold to UPC, a wholly-owned subsidiary of Liberty Global plc.

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Umbro

Umbro

Originally founded in 1924, Umbro was acquired by DH in April 1999.

During the period of DH's ownership, Umbro Ltd was a leading designer, marketer and full line supplier of branded and licensed soccer products. Its branded products consisted of uniforms, warm-up gear, footwear and active casual wear.

The company’s licensed products consisted of apparel and equipment carrying the logo of the Umbro-sponsored national and professional teams such as England, Republic of Ireland, Sweden and Olympique Lyonnais.

In addition to its own operations in the UK, the company had licensing agreements covering over 90 countries worldwide.

It was listed on the London Stock Exchange in May 2004.

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VUE

VUE Entertainment

Vue Entertainment was acquired by Fund V in December 2010.

Headquartered in West London, Vue Entertainment operates 116 state-of-the-art multiplex cinemas across the UK, Germany, Denmark, Ireland, Portugal and Taiwan. It has close to 1,100 screens with over 230,000 seats, over 5,100 employees and over 55 million attendances per annum.

The business was founded in 1998 as SBC International Cinemas by members of the current management team. It rebranded as Vue in 2003 following the acquisition of Warner Village Cinemas and has continued to grow organically and through acquisitions. Since 2006 it has opened 12 new sites and is focused on expanding into new markets both internationally and in the UK. In 2012, the Company completed two significant acquisitions. In May, Vue acquired Apollo Cinemas, a UK circuit with 14 sites and 2.7 million annual admissions. In August, Vue acquired CinemaxX with 34 cinemas and over 290 screens across Germany and Denmark adding 16.3 million annual admissions. 

In May 2013, Vue agreed to acquire Multikino, a leading Polish multiplex operator with 28 cinemas with 231 screens across 22 cities in Poland and 2 cinemas with 15 screens in the Baltics. 

In August 2013, Vue Entertainment was sold to OMERS Private Equity and Alberta Investment Management Corporation (AIMCo).

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Winkler Dunnebier

Winkler + Dunnebier

Winkler and Dünnebier was acquired in February 1997.

It is the global market leader in the production of machines for printing and folding paper envelopes, tissues and hygiene products. It was founded in 1913 and is based in Neuwied, Germany.

It was listed on the Frankfurt Stock Exchange in May 1998.

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20:20mobile

20:20 Mobile

20:20 Mobile Group was acquired by Fund IV in September 2006.

20:20 is one of the largest European distributors of mobile phones products and provider of business process outsourcing services to the mobile telecommunications industry. 20:20 Mobile is an authorised distribution partner for most leading handset manufacturers and provides products and services to over 8,000 customers including network operators, retailers, online merchants, dealers, distributors and insurance providers. Founded in 1987, it employs over 1,200 people in 14 countries.

20:20 Mobile Group is the market-leading distributor of mobile handsets in the UK, Spain and Sweden, following the July 2007 acquisition of Axcom. The group also has operations in Denmark, Finland, Hong Kong, Hungary, Germany, the Netherlands, Norway, Poland, Portugal, Romania, and the United Arab Emirates.

In February 2014, 20:20 was sold to Brightstar Corp.

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APCOA - The World of Parking

Apcoa

DH acquired Apcoa in December 1991.

Apcoa is a European leader in car park management, including airport and city parking sites as well as on-street parking supervision.

Under DH's ownership, Apcoa had operations in Germany, Austria, UK, France, Italy and Holland.

Apcoa floated on the Frankfurt Stock Exchange in June 1995.

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ATU - Die Nr.1 Meisterwerkstatt

A.T.U

In July 2002, DH acquired a majority stake in A.T.U from its founder.

A.T.U is the leading independent niche vehicle parts and service auto centre in Germany. The company was founded in 1985 and at the time of divestment operated 600 branches in Germany, Austria, the Czech Republic, the Netherlands and Switzerland.

A.T.U’s unique business model is based on the retail sale and fitting of car parts and accessories for all brands of cars. The company operates its own logistics services and supports its branch network through state-of-the-art distribution centres.

In August 2004, DH sold its stake in A.T.U to KKR and subsequently became a minority investor. In February 2010, DH sold its remaining shares in A.T.U to KKR.

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Avanza Grupo

Avanza Group

Avanza Group was acquired by Fund V in February 2007.

It is the largest independent bus operator in Spain, with a market-leading presence in the urban, suburban and intercity segments. Avanza Group is also Spain’s largest operator of bus stations.

Since DH acquired the group, Avanza has successfully completed several follow-on investments including CTSA Portillo in November 2007, Alosa in May 2008, two concessions in Southern Madrid in 2010 and two concessions in Northern Madrid in 2011. These acquisitions have reinforced Avanza’s market-leading positions in the high growth Urban and Suburban segments while increasing regional diversification.

In July 2009 Avanza extended its reach in the Zaragoza area when construction and operation of the city’s new tramway was awarded to an Avanza-led consortium. This long-term concession, which expires in 2043, will connect the north and south of the city through 13km of railway track and is expected to carry more than 30m passengers per year.

In August 2013, Avanza Group was sold to Grupo ADO of Mexico.

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Balta - HOME OF DECORATION

Balta

Balta is the European market leader in wall-to-wall carpets and a global leader in mechanically-woven rugs. Balta also has significant and growing market positions in carpet tiles. The combination of rugs and carpet tiles are complementary to wall-to-wall carpet production and provides a stable portfolio effect. The company manufactures in Belgium and Turkey and operates a warehouse in the US. It sells its products across Europe, the Americas and Asia. Balta is vertically integrated for the purposes of yarn production.

In 2010, Balta further consolidated its European leadership position through the acquisition of the Domo floor covering business (“Domo”) from the family-owned Domo Group. In 2013, Balta divested its 50% interest in the laminate joint-venture Trinterio to IVC NV to further concentrate on growing its complementary portfolio of market leading soft flooring activities.

In August 2015, Balta was sold to Lone Star Funds.

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Dunlop Standard - Aerospace

Dunlop Standard Aerospace

The company was acquired by DH in October 1998.

Dunlop Standard Aerospace was the largest independent engine repair and overhaul company in the world for commercial, regional, military and business aircraft engines. It also supplied wheel and braking systems, engine components and rubber seals for a variety of aircraft.

It was sold in August 2004 for US$1.45 billion to a consortium of Meggitt of the UK and The Carlyle Group. Meggitt retained the Dunlop Aerospace Design and Manufacturing division, while Carlyle took the Standard Aero division.

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Elexis - vision for evolution

Elexis

Elexis was acquired by DH from Daimler Benz/AEG in December 1995.

At the time of the acquisition, Elexis was a technology group with two business divisions: Factory Automation Steel and Printing; and a division focusing on Factory Automation Plastics. The former concentrated on machine vision systems, control systems and new technologies in the field of quality assurance systems. The latter was a leading supplier of automated handling systems (robotics) for plastic injection moulding machines.

The company was floated on the Frankfurt Stock Exchange in May 1999 with a market capitalisation of €64.4 million.

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Eurofiber

Eurofiber

Eurofiber was acquired by Fund V in May 2012 from Reggeborgh, an investment vehicle of the Wessels family. Reggeborgh continues to hold a significant minority stake in Eurofiber. 

Founded in 2000 and headquartered in Maarssen in the Netherlands, Eurofiber owns and operates a state of the art fiber network spanning over 10,000km and connecting over 10,000 unique locations. All telecom providers, system integrators and service providers can deliver their services to end users using Eurofiber’s infrastructure-only network. 

Eurofiber is one of only two companies in the Netherlands that has sufficient nationwide coverage to target major nationwide contracts. With more than 25% of Dutch internet traffic and 50% of Dutch mobile traffic, waterways and electricity management information transported over Eurofiber’s network, the Company continues to dynamically expand its coverage, driven by strong demand for fiber. 

In 2013, the Company completed two add-on acquisitions in the Netherlands, expanding its network by over 1,000km. In May, Eurofiber acquired UNET, a regional fiber network in Almere, followed by the acquisition of Isilinx, a regional fiber-only network in Limburg serving the enterprise and not-for-profit market, in June.

In May 2015, Eurofiber was sold to Antin Infrastructure Partners.

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Selenia Fluids & Lubricants

FL Selenia

FL Selenia was acquired by DH in April 2000, the same year it acquired Viscosity Oil. This allowed FL to become a world leader in the manufacturing of oils for the agricultural industry.

At the time of the acquisition, FL Selenia was the largest independent blender and distributor of automotive lubricants in Europe and South America.

It supplies lubricants and functional fluids (for example, anti-freeze) for cars, trucks, tractors and earth-moving equipment, as well as for industrial lubrication.

The company was sold in October 2003 to Vestar Capital Partners for €670 million.

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Geberit

Geberit

Geberit was acquired from the Gebert family in March 1997 for a transaction value of more than SFr1.8bn. DH investors provided the entire institutional equity for the transaction and arranged the first ever DM denominated high-yield bond to complete the financing.

Geberit is the leading supplier of sanitary installation systems in the German-speaking markets of Europe with an estimated market share of over 50%. It is based in Jona, Switzerland.

In June 1999, Geberit was listed on the Zurich Stock Exchange.

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HellermannTyton

HellermannTyton

DH’s Fund IV acquired the business in February 2006.

HellermannTyton (HT) is a market leading global manufacturer and supplier of high-performance and innovative cable management solutions. Headquartered in the UK and with operations in 34 countries, HT operates world class production facilities in 12 primary locations across 10 countries, which are located close to end customers to maximise presence and responsiveness.

HT’s systems and solutions are used for fastening, identifying, insulating, protecting, organising, routing and connecting components. HellermannTyton’s two largest end markets are the electrical and automotive industries. In addition the company supplies into the datacom market. The company has an extensive product range with over 20,000 products.

HellermannTyton was listed on the London Stock Exchange (symbol “HTY”) in March 2013, at £1.95 per share. The total size of the offering was £227m and resulted in a free float of 54.0%. DH exited its remaining interest in HellermannTyton via two placings in September 2013 and March 2014.

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Impress

Impress Holdings

Impress was a Fund II acquisition in May 1997. Fund III subsequently invested in the group in February 2000 when Impress made two significant acquisitions in France and the US.

The group is a global market leader in the consumer metal packaging industry. Headquartered in the Netherlands, Impress employs approximately 7,500 people across 57 production facilities in 22 countries and five continents.

Impress can trace its roots back to a 19th-century tin can company and has established a number of patents including, in 1949, the first aerosol can. It was created in its current form by DH through the merger of the metal packaging businesses formerly owned by Pechiney (France) and Schmalbach-Lubeca (Germany) in 1997. In 2000 Impress acquired Fermbal in France and Heinz’s can-making facilities in the US.

Since 2000 the Company has made a further ten acquisitions, in Western and Eastern Europe, Canada, Australia and New Zealand. The acquisitions have expanded Impress’ geographic footprint and strengthened the product portfolio.

In December 2010, Impress was sold to Ardagh Glass for €1.7bn.

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Knowles Electronics

Knowles Electronics

Knowles Electronics was acquired by DH in June 1999.

Since its foundation in 1946, Knowles has used its core competency in acoustic technology to build expertise in hearing aid transducers and low voltage integrated circuit design, electronic controls and sensors, and precision manufacturing. Under DH's ownership it had facilities in seven countries spread over North America, Europe and Asia, with its largest operations located in the United States, China and Malaysia.

It was sold in September 2005 to the Dover Corporation for US$750 million.

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LM Wind Power

LM Wind Power

LM Wind Power is the world’s leading supplier of wind turbine blades and services to the wind industry. The company has a global footprint and is a valued partner in established and emerging markets all over the world. This global reach ensures close contact to international customers and enables the group to minimise transport and logistics costs, shorten delivery time and reduce working capital requirements.

LM Wind Power works closely with customers to reduce the cost of energy and continues to invest in research and development. Test facilities and an in-house wind tunnel, is part of the LM Wind Power global technology centre, and ensures that turbines fitted with LM blades continue to generate ever more power.

In more than 35 years, LM Wind Power has produced over 185,000 blades ranging from 5.0 to 88.4 meters and continues to establish a strong position among the world leaders in the growing wind power industry.

In April 2017, LM Wind Power was sold to GE for an enterprise value of €1.5 billion.

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Moeller - We keep power under cantrol

Moeller

DH acquired a majority stake in Moeller in September 2005.

At the time of the investment, Moeller was one of Europe’s largest suppliers of systems and components concerned with power distribution and automation in industrial, infrastructure and residential building applications. The company enjoyed number one positions in Austria, Norway, Poland, the Czech Republic and Romania and was the third largest supplier to the German market.

Moeller‘s global sales network included 31 sales subsidiaries with over 350 sales offices in more than 90 countries. The business was headquartered in Bonn and operated 15 production facilities worldwide.

The majority of Moeller’s products are safety critical and to a large extent fall under regulated standards. Key products include circuit breakers, command and control devices, motor starters and drives.

In April 2008, Moeller was sold to global power distribution giant Eaton Corporation for €1.6bn.

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Membership Group Inc

NAMG

North American Membership Group (“NAMG”) was acquired by DH in October 1999.

Based in Minnetonka, Minnesota, NAMG is an affinity marketing organisation which successfully combines membership, publishing and merchandise marketing into one business.

NAMG caters to enthusiasts who pay membership dues in exchange for club benefits, which include a monthly magazine and access to proprietary books, videos and events.

It also operates special interest fan clubs including the North American Fishing Club, Handyman Club of America, National Home Gardening Club, PGA TOUR Partners Club, Cooking Club of America, Creative Home Arts Club and the History Channel Club.

The company was sold in July 2007.

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Norit - leading in purification

Norit

Norit was acquired by DH in June 2007.

Norit was founded in 1918 and is a global supplier of water and air purification technologies.  At the time of the acquisition, the company was managed centrally and operated through two divisions: Activated Carbon and Clean Process Technology.

Norit’s Activated Carbon products are widely used to remove pollutants, contaminants and other impurities from water, air, and other liquids and gases in an efficient and cost-effective manner. The Clean Process Technology business focuses on purification and filtration systems for the water and beverages markets as well as the food and chemical industries.

Norit has a global footprint with international manufacturing presence and a distribution network and service support in more than 150 countries.

In May 2011, Norit’s Clean Process Technology division was sold for €503m. In June 2012, Norit Activated Carbon was sold for $1.1bn.

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Priory

Priory

Priory was acquired by DH in June 2002. At the time of the acquisition it was the largest independent provider of mental health and rehabilitation services in the UK.

Under DH's ownership it had a national presence with over 42 locations, over 2,000 beds and a staff complement approaching 4,500.

The company had hospitals providing acute psychiatric services covering conditions such as addictions, eating disorders and depressive illness.

It also ran specialist schools and adolescent psychiatry units as well as centres treating patients with acquired brain injuries. The group operated a number of low and medium secure units for people with enduring mental illness.

Priory was sold in July 2005 in a transaction valued at £875m.

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Quiron - Grupo Hospitalario

QUIRON

USP Hospitales (“USP”) was acquired by Fund V in April 2012.

A minority stake of Grupo Hospitalario Quiron (“GHQ”) was acquired by Fund V in July 2012. At the same time, Fund V reached an agreement with the Cordón Muro family (founding family and majority shareholders of GHQ) for the exchange of their controlling interest in GHQ into a company through which Fund V and the Cordón Muro family controlled USP and GHQ, thereby creating one of Spain's largest private hospital groups.

The Fund V investment in USP and GHQ resulted in a majority shareholding in the combined entity.

Headquartered in Madrid, USP is the third largest private hospital operator in Spain with 12 hospitals, 1 specialist clinic and 22 auxiliary clinics (over 1,200 beds). Headquartered in Madrid and Barcelona, GHQ is the fifth largest private hospital operator in Spain with 7 hospitals (over 1,000 beds) and 2 fertility treatment centres. Both GHQ and USP are focused on the provision of hospital services to the private insurance and self-pay segments. Both companies cover the wealthiest areas of the country and specifically have a strong presence in Barcelona, Madrid and Seville. The USP-GHQ combination offers a comprehensive range of services covering all medical specialties, with a particular strength in trauma, gynaecology, oncology, cardiology, neurosurgery and internal medicine.

Spain’s private healthcare sector is highly fragmented and USP offers a unique platform to create a larger hospital group and deliver the best possible care to private patients.

In November 2014, Quiron was sold to a holding company controlled by funds advised by CVC Capital Partners for an undisclosed amount.

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RHM

RHM

Originally founded in 1899, RHM was acquired by DH in 2000.

The RHM Group had long been established as one of the leading food manufacturing groups in the UK.

With operations in the ambient, chilled and frozen food categories, RHM supplied customers in the food retailing, fast food and foodservice channels from a portfolio of brands with leading market positions.

RHM was listed on the London Stock Exchange in July 2005.

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Saft

Saft

Saft was acquired by DH in January 2004.

It is a market-leading manufacturer of high-end batteries for a wide range of niche applications, including aviation, railway, industrial stand-by, defense and emergency lighting.

Under DH's ownership, Saft was organised into three divisions – Industrial Battery Group, Speciality Battery Group and Rechargeable Battery Systems – and operated through 14 manufacturing plants in Europe, North America and Israel.

The company was listed on Euronext Paris, in June 2005.

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Tag Heuer

Tag Heuer

TAG Heuer International SA was acquired by DH in 1995 leaving the former owner and management with significant equity ownership.

Located in Neuchatel, Switzerland, it is one of the world’s leading producers of prestige sports watches. The company has demonstrated an exceptional record in developing its brand image.

In September 1996, the company was successfully listed on the New York and Zurich stock exchanges with a market capitalization of SF 1,141million. TAG Heuer was acquired subsequently by luxury goods group, LVMH, in November 1999.

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Tarkett

Tarkett

Tarkett was acquired in 1994 from Stora AB.

Based in Frankenthal, Germany, at the time of the acquisition it was Europe's largest manufacturer of resilient and hardwood flooring.

After the acquisition, the management undertook an investment programme, which saw a factory reorganisation and the establishment of new plants in Poland and the US.

In June 1995, Tarkett was successfully listed on the Frankfurt stock exchange and in May 1997 it was merged with Sommer-Allibert, a leading French flooring manufacturer.

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Tornos

Tornos

Tornos was acquired in January 1999. At the time of the acquisition it was a world-leading manufacturer of high performance automatic lathes for the production of precision-turned parts.

Tornos was listed on the Zurich Stock Exchange in March 2001.

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Tumi

Tumi

Tumi was acquired from the founding family, shareholders and Oaktree Capital Management by Fund IV in November 2004.

Tumi is a global, premium lifestyle brand whose products offer superior quality, durability, functionality and innovative design. The company offers a comprehensive line of travel and business products and accessories in multiple categories, building on a strong heritage of producing high-end performance travel goods and business cases. Tumi’s products are sold in more than 75 countries through approximately 1,700 points of distribution, including company-owned retail stores, third parties and e-commerce channels.

Working with DH, Tumi has significantly grown its presence in the Asia Pacific region. Accelerating the further roll-out of Tumi’s retail channel has been another major area of focus, with the number of stores having more than doubled globally since 2004. Product innovation also continues to be a key area of focus and the DH team has worked extensively with Tumi’s management to accelerate product development lead times.

DH and Tumi have also been focused on operating responsibly. For example, Tumi has become a member of the Fair Labor Association and joined the Leather Working Group. These initiatives ensure that all of Tumi’s partners and suppliers comply with employee safety and working conditions standards, and institute programs that are more environmentally responsible.

Tumi was listed on the New York Stock Exchange (symbol “TUMI”) in April 2012, at $18 per share. Following Secondary Public Offerings in November 2012, March 2013 and September 2014, DH’s ownership of Tumi has been further reduced to 13%.

Samsonite and Tumi announced on 3 March 2016 that they have entered into a definitive agreement whereby Samsonite will acquire Tumi for US$26.75 per share in an all cash transaction, valuing Tumi at an equity value of US$1.8 billion. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second half of 2016, subject to the receipt of approvals by Samsonite and Tumi shareholders, the receipt of required regulatory approvals and the satisfaction of other customary closing conditions.

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TV3

TV3

Fund IV acquired TV3, the only privately owned terrestrial free-to-air national commercial television channel in the Republic of Ireland, from CanWest, ITV and a consortium of private investors in August 2006. It is now a multi-channel digital media group, with its own Sony HD studio and a diversified revenue base.

TV3 provides viewers with a wide range of programming across the entire schedule, including soaps, drama, news and premium sport and is the market leader in the critical audience segment of 15 – 44 year olds. Despite the entry into the market of numerous new digital channels since 2006, TV3 has grown audience, driven by home programming now up to c. 40% of total output from 20% at acquisition.

Revenues are derived from advertising during commercial breaks in programming, sponsorship and promotions, as well as certain programming and interactive applications.

In 2008, TV3 acquired Channel 6, which has seen its audience share increase by c. 90% since being rebranded as 3e. DH has also helped the company’s management successfully to develop its online business TV3.ie into the fastest-growing website in Ireland currently receiving 3.5 million page views per month.

In 2011 TV3 launched its innovative 3player which shows more than 1 million videos per month. In 2013, TV3 opened its new HD studio in partnership with Sony, which gives great opportunity to make programmes for sale abroad.

In December 2015, TV3 was sold to UPC, a wholly-owned subsidiary of Liberty Global plc.

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Umbro

Umbro

Originally founded in 1924, Umbro was acquired by DH in April 1999.

During the period of DH's ownership, Umbro Ltd was a leading designer, marketer and full line supplier of branded and licensed soccer products. Its branded products consisted of uniforms, warm-up gear, footwear and active casual wear.

The company’s licensed products consisted of apparel and equipment carrying the logo of the Umbro-sponsored national and professional teams such as England, Republic of Ireland, Sweden and Olympique Lyonnais.

In addition to its own operations in the UK, the company had licensing agreements covering over 90 countries worldwide.

It was listed on the London Stock Exchange in May 2004.

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VUE

VUE Entertainment

Vue Entertainment was acquired by Fund V in December 2010.

Headquartered in West London, Vue Entertainment operates 116 state-of-the-art multiplex cinemas across the UK, Germany, Denmark, Ireland, Portugal and Taiwan. It has close to 1,100 screens with over 230,000 seats, over 5,100 employees and over 55 million attendances per annum.

The business was founded in 1998 as SBC International Cinemas by members of the current management team. It rebranded as Vue in 2003 following the acquisition of Warner Village Cinemas and has continued to grow organically and through acquisitions. Since 2006 it has opened 12 new sites and is focused on expanding into new markets both internationally and in the UK. In 2012, the Company completed two significant acquisitions. In May, Vue acquired Apollo Cinemas, a UK circuit with 14 sites and 2.7 million annual admissions. In August, Vue acquired CinemaxX with 34 cinemas and over 290 screens across Germany and Denmark adding 16.3 million annual admissions. 

In May 2013, Vue agreed to acquire Multikino, a leading Polish multiplex operator with 28 cinemas with 231 screens across 22 cities in Poland and 2 cinemas with 15 screens in the Baltics. 

In August 2013, Vue Entertainment was sold to OMERS Private Equity and Alberta Investment Management Corporation (AIMCo).

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Winkler Dunnebier

Winkler + Dunnebier

Winkler and Dünnebier was acquired in February 1997.

It is the global market leader in the production of machines for printing and folding paper envelopes, tissues and hygiene products. It was founded in 1913 and is based in Neuwied, Germany.

It was listed on the Frankfurt Stock Exchange in May 1998.

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