Focused on retail and consumer

Flexible in how we invest

We back European retail and consumer businesses with flexible capital and a hands-on approach, including when the situation is complicated.

About

A specialist investor in European retail and consumer

A small team of investors and operators.

Experts in retail

Retail & consumer experts

Sector knowledge shapes everything we do. Since 2014, we have invested only in retail and consumer. We know how these businesses make and lose money, and we form a view quickly.

Flexible Capital

Flexible capital

We invest across the capital structure, from equity to debt and everything in between. That lets us shape a deal around what the situation needs, including when it is complicated.

Keeping up-to-date

Hands-on

We work alongside management teams on how the business runs. Our hands-on approach combines investment and operational expertise to fix what is broken and build what is missing.

Invested in

13
Retail sectors

Completed

19
Transactions

Invested in retailers with operations in

27
Countries
Our approach

A disciplined approach to investment and transformation

Responding to changing consumer dynamics

Consumer behaviour continues to evolve, from the growth of digital commerce to changing shopping habits. Our specialist focus allows us to stay close to these developments, so we see shifts early. That helps us judge a business accurately before we invest, and helps it adapt afterwards.

Supporting business transformation

We work alongside management teams to strengthen performance and develop sustainable operating models. Drawing on our operational and transformation experience, we support businesses in developing their e-commerce, omnichannel and wider digital capabilities.

Delivering practical improvement and long-term value

From cost optimisation and supply chain efficiencies to pricing, working capital management and growth initiatives, we focus on changes that lift performance and hold up over time.

Investment criteria

A focused yet flexible investment approach

01

Focused on European Retail & Consumer

Our sector focus is deliberately narrow, but our investment approach is flexible. We consider a broad range of transaction types and invest across the capital structure, including equity, debt-for-control and pure debt.

02

Open to complex situations

We invest in businesses across a wide range of situations, from performing companies facing specific structural or stakeholder challenges to complex situations requiring operational and financial restructuring. We are used to many stakeholders, tight timelines and hard trade-offs.

03

Businesses with sales between €100m and €3bn

We invest across Western Europe, including the UK, France, Italy, DACH, Benelux, the Nordics and Iberia. Our investments span all retail and consumer segments, from traditional bricks-and-mortar businesses to pure-play online retailers.

Portfolio

Our experience across European retail and consumer

Selected current and former investments

Portfolio Babywalz logo

Baby-Walz

Leading DACH baby & kids multi-channel retailer
Babymarkt

Babymarkt

European baby & kids online retailer
Die Moderne Hausfrau

Die moderne Hausfrau

German home & household goods multi-channel retailer
CBR Fashion Group

CBR Fashion Group

Leading German women's & menswear group (Street One, Cecil)
Bensons for Beds

Bensons for Beds

Leading UK bed & mattress multi-channel retailer & manufacturer
Magnet Kitchens

Magnet Kitchens

Leading UK kitchen multi-channel retailer & manufacturer
Maisons Du Monde

Maisons du Monde

European home furnishings & décor multi-channel retailer
Adler

Adler Mode

German value fashion retailer for best-ager customers
Intertoys

Intertoys

Leading Benelux toy & games multi-channel retailer
New Look

New Look

Leading UK value womenswear multi-channel retailer
Takko Fashion

Takko Fashion

Leading European value fashion multi-channel retailer
Portfolio Babywalz logo

Baby-Walz

Leading DACH baby & kids multi-channel retailer
Babymarkt

Babymarkt

European baby & kids online retailer
Die Moderne Hausfrau

Die moderne Hausfrau

German home & household goods multi-channel retailer
CBR Fashion Group

CBR Fashion Group

Leading German women's & menswear group (Street One, Cecil)
Bensons for Beds

Bensons for Beds

Leading UK bed & mattress multi-channel retailer & manufacturer
Magnet Kitchens

Magnet Kitchens

Leading UK kitchen multi-channel retailer & manufacturer
Maisons Du Monde

Maisons du Monde

European home furnishings & décor multi-channel retailer
Adler

Adler Mode

German value fashion retailer for best-ager customers
Intertoys

Intertoys

Leading Benelux toy & games multi-channel retailer
New Look

New Look

Leading UK value womenswear multi-channel retailer
Takko Fashion

Takko Fashion

Leading European value fashion multi-channel retailer