Welcome!

Mobile IoT Authors: Elizabeth White, Liz McMillan, Sematext Blog, Pat Romanski, Carmen Gonzalez

News Feed Item

Apax Funds reach agreement to sell LR to a consortium

MUNICH, Dec. 23, 2012 /PRNewswire/ -- Funds advised by Apax Partners ('Apax Funds') have reached an agreement to sell LR Health & Beauty Systems ('LR') to a consortium. The consortium consists of private equity firms Bregal Capital and Quadriga Capital. LR is a strongly growing company, which markets cosmetics, personal hygiene products, dietary supplements, perfumes and jewellery through the direct sales channel. The new shareholders will support LR Group in expanding its national and international activities. The transaction is subject to approval by the relevant anti-trust authorities. The parties agreed not to disclose the sale price.

"LR Health & Beauty has a unique business model within the direct sales market. From the beginning the management-team, headed by Jens Abend, and the employees have demonstrated to us through their enthusiasm and dedication that LR is an exceptional company with high growth potential especially in foreign markets. We want to support the group and people working for it to realize that potential," says Andreas Fendel, founding partner of Quadriga Capital.

Florian Schick, Partner of Bregal Capital, comments: "LR is an innovative company with a superior value proposition to its sales partners and customers, and we are excited to support Jens Abend and his team in the continued internationalisation of the business."

Apax Funds bought into LR in November 2004, and then gradually acquired a majority share. In partnership with Apax, LR's management team revised the corporate strategy and professionalised its internal processes. They also drove the internationalisation of the business model forward and expanded the product range. LR now generates 52 per cent of its sales outside of Germany, predominantly in Western and Southern Europe. LR has been expanding in Russia, Kazakhstan, Albania, Bulgaria and Romania. Through collaborations with international stars like Bruce Willis, Heidi Klum, Michael Schumacher and Boris Becker new star products have been launched, especially in the perfume and cosmetics segment. During the period of the Apax Funds' investment, LR's sales rose from around €180 million (2004) to approximately €230 million (2011). Between 2004 and 2012 the number of sales partners increased from about 190,000 to about 300,000. The number of staff increased from circa 570 to around 1,000.

"The successful investment of Apax Funds in LR highlights the expertise of Apax Partners to identify attractive business models in our key industries and to develop them over the long-term. Together with CEO Jens Abend and his team, we have driven the professionalisation of LR, supported the company's sustainable growth, and enabled it to continue its international expansion. We are proud of having been a partner of LR and its management team over the past eight years," says Ralf Gruss, Partner and COO at Apax Partners.

"Since the investment of Apax Partners, LR has developed into a leading direct sales company in Europe. As market leader in Germany in its segment, LR has consistently and constantly grown in foreign markets. Apax believed in the strength and business model of our company right from the very beginning. The cooperation with Apax was exemplary. Now a new chapter in the LR story is beginning," says Jens Abend, CEO of LR.

Apax has deep retail and consumer business expertise and a successful track record of investing in this sector. Over the past ten years, funds advised by Apax have invested approximately €5.2 billion in retail and consumer businesses. Current and historic notable investments in this sector include: Tommy Hilfiger, the global lifestyle brand; Advantage Sales & Marketing, the leading provider of outsourced sales and marketing services to consumer packaged goods companies and retailers in North America; Tnuva, the largest manufacturer and distributor of dietary and other food products in Israel; and Takko, a fast growing value fashion retailer in Europe.

Apax was advised by UBS and Societe Generale.

About Apax Partners

Apax Partners is one of the world's leading private equity investment groups. It operates globally and has more than 30 years of investing experience. Funds under the advice of Apax Partners total over US$35 billion around the world. These Funds provide long-term equity financing to build and strengthen world-class companies. Funds advised by Apax Partners invest in companies across its global sectors of Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial & Business Services. For further information about Apax, please visit: www.apax.com.

About LR Health & Beauty Systems GmbH

LR Health & Beauty Systems GmbH, one of Germany's leading direct sales enterprises for body care and beauty products, is represented in 30 countries and with approx. 1,000 employees and around 300,000 independent sales partners, LR is one of the leading global players in the industry. Its pillars of success include German quality products, a unique car plan, a professional training and service program for sales partners, a fair and transparent marketing plan as well as the cooperation with celebrities like Bruce Willis, Heidi Klum, Michael Schumacher, Boris Becker and Marcus Schenkenberg. LR is also a member of the following associations: Verband der Vertriebsfirmen Kosmetischer Erzeugnisse e.V. (VKE) [German cosmetics distributors and marketing association], Bundesverband deutscher Industrie- und Handelsunternehmen fur Arzneimittel, Reformwaren, Nahrungserganzungsmittel und Korperpflegemittel e.V. (BDIH), [Association of German industrial and trading firms for pharmaceuticals, health care products, food supplements and personal hygiene products], Bundesverband Direktvertrieb Deutschland e.V. (BDD) [German Association of Direct Sales] and the European Direct Selling Association (SELDIA). Further information at www.lrworld.com.

About Quadriga Capital:

Quadriga Capital is a leading investment firm in Germany and neighbouring countries that specializes in acquiring and supporting medium-sized companies that pursue long-term transformation and growth strategies. Investors in Quadriga Capital funds are international institutional investors, such as pension funds and insurance companies. Quadriga Capital's portfolio companies include among others AHT Austria Haustechnik GmbH in Austria, the Ameos Group in Zurich, Kinetics in Eschau/Bavaria, the Lapp Group in Stuttgart or the Ipsen Group in Kleve/North Rhine Westphalia.

About Bregal Capital:

Bregal Capital is a private equity firm with fund commitments of more than €3 billion and has since inception invested in over 20 companies. Bregal Capital is currently investing from The Bregal Fund III L.P., a €1 billion fund, targeting middle market investments in buy out and  development capital.

For more information contact:

Apax Partners
Ben Harding
Tel: +44 (0)20 7872 6401
Email: [email protected]

Apax – Germany enquiries
Reinhard Saller
Ira Wulfing Kommunikation GmbH
Tel: +49 (0)89 2000 3038  
Email: [email protected]

Apax – US enquiries
Kekst and Company
Todd Fogarty
Tel: +1 212 521 4854
Email: [email protected]  

Bregal Capital
Florian Schick
Tel.: +44 2075914200
[email protected]

Quadriga Capital
Dr. Andreas Fendel
Tel: +49 69 79500025
[email protected]

SOURCE Apax Partners

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Onalytica. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
"IoT is going to be a huge industry with a lot of value for end users, for industries, for consumers, for manufacturers. How can we use cloud to effectively manage IoT applications," stated Ian Khan, Innovation & Marketing Manager at Solgeniakhela, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...