Welcome!

Mobile IoT Authors: Scott Allen, Dana Gardner, Elizabeth White, Liz McMillan, Rishi Bhargava

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
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, 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 opportuni...
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
“delaPlex Software provides software outsourcing services. We have a hybrid model where we have onshore developers and project managers that we can place anywhere in the U.S. or in Europe,” explained Manish Sachdeva, CEO at delaPlex Software, in this SYS-CON.tv interview at @ThingsExpo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discussed how businesses can gain an edge over competitors by empowering consumers to take control through IoT. He cited examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He also highlighted how IoT can revitalize and restore outdated business models, making them profitable ...
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...