M&A Deal Summary

Rivean Capital and Exponent Private Equity Acquire albelli-Photobox Group

On July 26, 2017, private equity firms Rivean Capital and Exponent Private Equity acquired consumer services company albelli-Photobox Group from Cimpress

Acquisition Highlights
  • This is Rivean Capital’s 1st and Exponent Private Equity’s 3rd transaction in the Consumer Services sector.
  • This is Rivean Capital’s 25th and Exponent Private Equity’s 1st transaction in the Netherlands.

M&A Deal Summary
Date 2017-07-26
Target albelli-Photobox Group
Sector Consumer Services
Buyer(s) Rivean Capital
Exponent Private Equity
Sellers(s) Cimpress
Deal Type Divestiture

Target

albelli-Photobox Group

Amsterdam, Netherlands
albelli-Photobox Group produces and supplies photo books and other related photo print products including wall décor, cards, calendars and prints. The company has strong market positions across the Benelux, Scandinavia as well as other European countries where it has highly recognized local brands (including albelli, bonusprint, monalbumphoto, fotoknudsen and önskefoto) and supplies high-quality photo products to millions of customers across Europe. The company operates a vertically integrated business model, combining e-commerce with in-house printing as well as proprietary developed photo creation software.

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Buyer(S) 2

Buyer

Rivean Capital

Amsterdam, Netherlands

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 5.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Gilde Buy Out Partners (GBO) is unit of Gilde Investment Management, a Dutch private equity group. Gilde Buy Out Partners (GBO) targets investments in larger businesses valued from €75 and €600 million with at least €8 million in cash flow. Broad sectors of interest include services, consumer goods, manufacturing, and industrial products. GBO looks for investments across Western Europe, with an emphasis on opportunities in Belgium, The Netherlands, Luxembourg, France, Germany, Switzerland and Austria. Gilde was formed in 1982 and has offices in Utrecht, Paris, Brussels, and Zurich.

DEAL STATS #
Overall 48 of 76
Sector (Consumer Services) 1 of 1
Type (Divestiture) 8 of 10
Country (Netherlands) 25 of 40
Year (2017) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-14 Oysershell

Merelbeke, Belgium

Oysershell is a developer of innovative consumer healthcare products and is especially acknowledged for its capabilities in the anti-lice and insects category, its new skin treatments such as for warts, and several other important contributions to OTC pharma. Oysershell was founded in 1979 and is based in Merelbeke, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-01 Ace Pharmaceuticals

Zeewolde, Netherlands

Ace Pharmaceuticals is a specialized pharmaceutical company in medical needs medicines, focusing on the development, production, and distribution of licensed and unlicensed niche medicines. Ace Pharmaceuticals was founded in 1990 and is based in Zeewolde, Netherlands.

Buy -
Buyer

Exponent Private Equity

London, United Kingdom

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 2.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Exponent is a private equity firm focused on acquiring middle-market businesses located in the UK and broader Europe. Exponent targets opportunities in the media, business and financial services, healthcare, consumer, and leisure sectors. The Firm seeks to invest in businesses valued from £150 to £500 million. Exponent has a particular interest in businesses that are prominent in their respective markets, but may benefit from or need operational improvement. Exponent Private Equity was formed in 2004 and is based in London.

DEAL STATS #
Overall 28 of 38
Sector (Consumer Services) 3 of 3
Type (Divestiture) 8 of 12
Country (Netherlands) 1 of 1
Year (2017) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-02 Evergreen Garden Care

Surrey, United Kingdom

Evergreen Garden Care is a garden care company in Europe and Australasia, producing high-quality garden care products designed to help people create their own green oasis amid the rush of modern life. Evergreen Garden Care was founded in 2017 and is based in Surrey, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-21 Incora

Derby, United Kingdom

Incora is an independent distributor and global provider of supply chain solutions. The Company was forged by the joining of two industry leaders in supply chain solutions, Wesco Aircraft and Pattonair. Services include original equipment and aftermarket part demand forecasting, distribution, kitting, line feed, supplier management, warehouse management, inbound and reverse logistics, and consulting.

Sell -

Seller(S) 1

SELLER

Cimpress

Dundalk, Ireland
Category Company
Founded 1994
Sector Business Services
Employees15,000
Revenue 3.1B USD (2023)
DESCRIPTION

Cimpress is a provider of printer and graphic design agency serving the small business and consumer markets. Cimpress’ portfolio of brands that include Vistaprint, Albelli, Drukwerkdeal, Pixartprinting and others serve many customer segments across many applications for mass customization. Cimpres was founded in 1994 and is based in Dundalk, Ireland.

DEAL STATS #
Overall 1 of 1
Sector (Consumer Services) 1 of 1
Type (Divestiture) 1 of 1
Country (Netherlands) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-12 National Pen

San Diego, California, United States

National Pen Co. LLC is a manufacturer and marketer of custom writing instruments for small and medium businesses.

Buy $218M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 VIDA

San Francisco, California, United States

VIDA & Co. is an e-commerce platform. VIDA enables artists and creatives from around the world to seamlessly create custom apparel and sell the items on the VIDA marketplace within hours. VIDA & Co. was founded in 2014 and is based in San Francisco, California.

Buy -
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