Companies & Sectors

Currently supported companies
Companies we are currently supporting
Company Activity Date Website
BFCC Dental prosthetics 2017 n.a.
In June 2017, Funds advised by Motion Equity Partners have acquired BFCC, a leading European dental prosthetic device manufacturer and distributor
KEY DATA
OFFICE:
Paris
EMPLOYEES :
n.a.
SECTOR:
Healthcare
SALES 2016 :
n.a.
BFCC is one of the European leaders in the manufacturing and distribution of dental prosthetic devices.
 
Positioned in the premium segment of the market, BFCC’s offer addresses all the dentist's needs, from fixed prosthetics (to replace one or several teeth) to removable devices (to replace several or even all teeth). BFCC’s prosthetic devices are manufactured using very high quality processes. The Group's strong expertise and operational know-how enables it to meet the dentists’ highest expectations in terms of product and service quality.
 
The Group's client base is made up of independent surgeon-dentists as well as large dental centres. While the Group’s core market is still France, where it achieves a large part of its turnover, it has been expanding into Germany, Belgium and the Netherlands.
Altaïr Household care and insecticides products 2016 http://www.starwax.fr/
In February 2016, Funds advised by Motion Equity Partners acquired Altaïr group, the french leader in household care and insecticides products distributed through specialized channels
KEY FIGURES
OFFICE :
Paris
EMPLOYEES :
250
SECTOR :
Consumer goods
SALES 2016 :
€72M

Headquartered in Wasquehal near Lille, Altaïr group is a French manufacturer and distributor of cleaning and home care products and household insecticides distributed through specialized channels. The group's offering is organized around three main leading brands: Starwax (the group's flagship brand accounting for over half of sales) for home care solutions (products and accessories), Sinto for repair and renovation products (mainly wood putty) and Kapo for insecticides and pest control products

Altaïr's products are primarily sold in DIY chains where the group created the home care products shelf 10 years ago. Altaïr is also present in independent stores, in professional channels (material wholesalers and professional hardware stores) and in garden centers and LISAs (agricultural products self-service stores) where it has expanded over recent years

The group operates two production sites in Noyelles-lès-Seclin near Lille and in Aubagne, suited to produce small and medium batches

Altaïr employs around 250 people and realized a turnover of about €72 m in 2016

CDL OmniPac Production of molded fiber packaging products 2014 http://www.cdl-omnipac.com
In November 2014, Funds advised by Motion Equity Partners have acquired CDL, the French leading manufacturer of egg trays. In 2016, they also acquired OmniPac, the German leader in egg boxes
KEY FIGURES
OFFICE :
Paris
EMPLOYEES :
500
SECTOR :
Packaging
SALES 2016 :
€85M

The European leaders in the molded fiber packaging join forces for a unique offering

The union between CDL and OmniPac, respectively number 1 players in France and Germany, is in line with their development strategy, expanding the product ranges through complementarities. The strong synergies between the two companies will allow them to address the current and future demands in the molded fiber packaging market.

Based in Allaire in Brittany, CDL is specialised in the manufacturing of egg trays. A major player in the poultry packaging sector, it also offers family packs and egg boxes to poultry cooperatives and distributors. In addition, the firm also offers medical and food packaging products. CDL has c.100 employees producing more than 900 million units per year. CDL, the historical leader in the French market, also operates in 40+ countries with exports representing c.2/3 of sales.

Founded in 1962, Omni-Pac is the German leader in the manufacturing and commercialization of molded fiber packaging products for the poultry (egg boxes), fruit and vegetables (trays), medical and agribusiness markets. Omni-Pac has approximately 400 employees, split between its Hamburg headquarters and its production facility in Elsfleth, near Bremen. The core market of the group is Germany, but OmniPac also addresses the Netherlands, Belgium and Northern-Europe where it achieves a significant part of its sales.

Cellular Line Distributor of smartphones and tablets accessories 2014 http://www.cellularline.com
Funds advised by Motion Equity Partners have arranged the buy-out of Cellular Line
KEY DATA
OFFICE :
Milan
EMPLOYEES :
200
 
SECTOR:
Consumer
SALES 2016 :
€173m
 

Cellular Line is the Italian leader in the design and marketing of accessories for smartphones and tablets. Cellular Line product range mainly includes covers, chargers and other innovative products for both smartphones and tablets. The Company sells its products to more than 2,000 clients, including leading consumer electronic retailers, mass merchandisers, duty free, service stations (highways), media stores and independent electronic/mobile phone stores. Cellular Line sells its product in Italy and in more than 60 foreign countries, with export representing c. 30% of sales

Cellular Line business model is based on outsourced production (Far East) while all the key activities such as product development, marketing and service, sales (B2B) and logistic are managed in house. The Company has built  its success over the years on top-tier category management and trade marketing services to its B2B customers

Cellular Line high-growth will come from continuous innovation in the smartphones/ portable devices market (that will require constant development of new accessories and solutions) and from an internationalization process that will strengthen its position across Europe. An experienced management team with an ambitious growth strategy (new products and geographies) will lead the Company, trying to exploit all the major opportunities coming from the internationalization process

Cellular Line employs more than 200 people and has budgeted Sales of c. €173m in 2016

Argenta Vending Services 2008 www.ilgustocolsorriso.it
In March 2008, Funds advised by Motion Equity Partners backed the buy-out of Argenta, a leading provider of vending services in Italy
KEY DATA
OFFICE:
Milan
EMPLOYEES :
1,500
SECTOR:
Vending
SALES 2016 :
€225m

Argenta is the leading vending machine operator in Italy: 110,000 vending machines, serving 55,000 clients throughout Italy, that generates more than 2 million vends per day.

Its clients comprise businesses of all sizes, government offices, schools, hospitals and city offices, as well as clients with outdoor locations. Argenta’s vending machines serve hot and cold drinks as well as food. Today Argenta employs more than 1,500 people in 37 branches spread throughout the country.

Over the years the company has embarked on several projects aimed at growth and improving service for its customers. Starting as a local business, Argenta has now become a national player. The company was also able to grow through a series of significant acquisitions that they were able to successfully integrate. 

Case Studies
Funds advised by Motion Equity Partners have led successful buyout investments on the European stage. Here is a snapshot of our realised operations
Company Activity Date Website
Morrison Utility Services Service provider to utility companies 2016 http://www.morrisonus.com
Leading provider of utility infrastructure services in the United Kingdom
KEY DATA
OFFICE :
Paris
EMPLOYEES :
4,000
SECTOR :
Utilities
SALES :
£600m

 

Background

Funds advised by Motion acquired Morrison Utility Services from Anglian Water Group plc in March 2008 for £135m, together with Bregal Capital and the management team. Motion had been closely following this opportunity since early 2006, when a demerger of the business was first considered by the parent company

Business

Morrison Utility Services, which is headquartered in Stevenage (United Kingdom), manages infrastructure maintenance, installation and specialist services for a broad range of utility companies under long-term contracts. The services provided by Morrison include installing, maintaining and replacing piping and cabling networks on behalf of water, gas, telephone, electricity and rail companies throughout the UK

Morrison supplies the labour and equipment hire required, as well as managing the relationship with the local authorities

With turnover of approximately £600m, Morrison has some 4,000 employees and is proud never to have lost a client from its broadly diversified customer base which accounts for contracts worth in excess of £2.0bn

Motion Equity Partners’ value added

During the investment period, with significant Motion support, the Group has:

  • Significantly increased its size and industry footprint: from £495m turnover and a £1.3bn order book in 2009, the company has now exceeded the £600m turnover mark, with a £2.0bn order book
  • Significantly improved its margins, which now stand at sector highest, through cost-saving initiatives and operational improvements
  • Improved working capital (specific focus on key contracts and intra-month swings) management, with positive effects on cash-flow generation
  • Strengthened its top Management team
Tokheim Petrol distribution systems 2016 http://www.tokheim.com
Led global international expansion
KEY DATA
OFFICE :
Paris
EMPLOYEES :
5,900
SECTOR :
Oil industry
SALES 2016 :
€720M

 

Background

Since December 2005, Funds advised by Motion Equity Partners have supported the development of Tokheim, the European leader in the production and service of petrol distribution systems

Business

Tokheim designs and assembles both fuel dispensers and associated systems including payment terminals, POS, back-office systems and offers maintenance and value-added services to operators

Present in 100+ countries in EMEA, China, India, Aspac and Latam, the Group had direct operations in 33 of them

Operated 4 assembly plants: its historical factory in Scotland and 3 others opened under our ownership in China, India and Brazil

Motion’s value added

During the investment period, Tokheim has been successful in building up a strong market position worldwide :

  • Increasing the size of the Group through greenfield development and external growth. Under Motion’s ownership, Tokheim made more than 20 add-ons and its sales have doubled
  • Drove greenfield development in emerging markets such as Asia, India and Latin America to re-balance Tokheim’s geographical footprint toward fast-growing markets
  • Successful investment in value-added services with 2 sizeable add-ons (Fairbanks & Start Italia)
Arcaplanet Pet food and accessories retailer 2016 http://www.arcaplanet.it/
Building the leading pet food and accessories retailer in Italy
KEY DATA
OFFICE :
Milan
EMPLOYEES :
800
SECTOR :
Retail
SALES :
€137m

 

Background

Funds advised by Motion Equity Partners acquired Arcaplanet, a leading Italian specialist retailer of pet food and accessories, in December 2010

Arcaplanet, which had been identified early on as an outstanding opportunity by the deal team, was acquired following a limited auction process organized by the seller, Credem PE, a Milan-based VC firm. The latter maintained a minority stake in the Group, together with the management team

In May 2016, Funds advised by Motion completed the sale of Arcaplanet to Permira Funds

Business

Arcaplanet Group, headquartered in Genoa, has c. 800 employees and operates 150 stores, each averaging some 600 square meters in size, located in the north and center of Italy. The Group differentiates itself through its innovative format, with a vast range of 10,000 products from pet food to accessories, at competitive prices. Stores formats range from retail park, to stand alone and in-town. Some stores have been also opened inside shopping centers

Over the years the Group has embarked on several projects to expand sales channels (launch of its online store), strengthen the Arcaplanet brand (launch of a TV advertising campaign, the first Italian pet retail chain to do so) and increase its product offering (launch of its private label)

In 2015, Arcaplanet accounted for almost 1/ 5 of the whole Italian market growth

Motion’s value added

The strong performance of the Group was achieved thanks to the implementation of an ambitious growth strategy and margin improvement initiatives. Under Funds advised by Motion's ownership, the Group has:

  • Increased the size of the chain through the opening of more than 100 stores. Network expansion has been wholly self-financed by Group cash-flows
  • Delivered first-in-class LFL performances, driven both by legacy stores and by new openings, which reported consistently positive results
  • Developed its private label, which experienced a significant growth and had a positive effect on profitability
  • Significantly improved margins
  • Strengthened its brand by launching a national TV advertising campaign which gave a significant boost to sales
  • Improved working capital (specific focus on inventory) management, with positive effects on cash-flow generation
  • Improved the management team to support the increasing size and complexity of the business
Fullsix International Interactive and relationship marketing agency 2015 http://www.group.fullsix.com
From an innovative agency to a robust international growth platform
KEY DATA
OFFICE :
Paris
EMPLOYEES :
650
SECTOR :
Media
SALES :
€70M

 

Background

Funds advised by Motion acquired the international operations of FullSIX Spa, an Italian group listed on the Milan stock exchange, alongside the existing management team in August 2008

FullSIX was a unique independent European player with impressive client base, positioned on a very dynamic market as the marketing industry is undergoing a major shift from traditional media (TV, papers, radio) towards interactive and relationship channels (web, mobile). Motion saw a great opportunity to back an ambitious management team and grow the agency into a lasting international group

The Group was acquired by Havas Media Group in October 2015. The merger should benefit both Havas and FullSIX as their experience and skills are very complementary. FullSIX will bring to Havas its unrivalled expertise in digital communication and marketing, and will in return benefit from Havas’ longstanding relationships with blue-chip customers

Business

FullSIX Group is a European digital communication and marketing consultancy Group founded in 1998 and based in Paris. The Group operates in France, Spain, Portugal, the United Kingdom, Italy and the USA. Led by Founder & CEO Marco Tinelli, the Group employs over 600 people. It built a unique proposition covering the full range of Data, Digital, Communications and Media expertise:

  • Relationship, digital and e-commerce (FullSIX)
  • Analytics, data mining & insights (FullSIX Data)
  • Mobile experience (FullSIX Air)
  • Brand and advertising (FullSIX Advertising)
  • Strategy and media buying (FullSIX Media)
  • SEO & SEM (FullSIX Search)
  • Traffic generation, ROPO (Research Online Purchase Offline) and in store experience (FullSIX Retail)

Motion Equity Partners' value added

During the investment period, FullSIX has succeeded in growing into a robust growth platform by:

  • Widening its scope of competencies, either through external growth (Novalem, Netsonda) or internal development (FullSIX Data, FullSIX Air)
  • Successfully expanding the Group’s international reach with the opening of agencies in Spain and the US and the acquisition of Grand Union in the UK
  • Rationalising its processes, especially production processes, to allow the Group to face its growth-related issues. FullSIX grew from a small innovating agency to an established, recognised and lasting group
  • Consolidating the Top Management and financial reporting
Diana Ingredients Global supplier of natural ingredients 2014 http://www.diana-group.com/
10 years alongside Diana Group, the global supplier of natural ingredients for the Food and Pet Food industries
KEY DATA
OFFICE :
Paris
EMPLOYEES :
2,000
SECTOR:
Consumer
SALES 2014 :
€447m

 

Background

Funds advised by Motion had initially made the acquisition of Diana Ingredients in 2004 from BNP Paribas for an EV of €270m

The asset was sold in 2007 for an EV of €710m to the French private equity firm Ardian (ex-AXA Private Equity)

Between 2004 and 2007, Funds advised by Motion had successfully helped Diana develop. The strategy implemented consisted in accelerating the development of its Pet Food division as well as the acquaculture segment, reinforcing Diana Food’s growth thanks to significant build-ups and developing Diana Nova through organic and external growth

Leveraging its success and its knowledge of the market, and convinced that the company had still a significant growth potential, it was decided to reinvest in the business

Business

Diana, headquartered in Vannes (France) is the world leader in natural functional solutions for the food, pet food, nutraceuticals, aquaculture and cosmetics industries, and technology leader in plant cell culture, dedicated to the production of active ingredients for food, cosmetics and health. The Group is organized in three independant divisions :
  • Diana Pet Food is the leading worldwide producer of palatability enhancers for the pet food industry.
  • Diana Nova is composed of new activities with high growth potential, such as aquaculture and plant cell culture
  • The Food division develops organoleptic and nutritional features to enhance the benefit of its customers from the food industry

With 32 production sites across 23 countries in Europe, North America, South America, Asia, Middle-East and Australia, Diana employs more than 2,000 people worldwide and has posted continuous highly profitable growth for 15 years

Motion Equity Partners’ value added

During the investment period, the strategy implemented by the Funds advised by Motion has been to pursue Diana’s internationalization to :
  • Increase the firm’s exposure to fast-developing countries
  • Further secure the sourcing of raw materials, an essential component of the Group’s success
  • Enter or reinforce existing positions on new promising markets such as aquaculture and plant cells culture
  • Follow its blue chip customers in new markets
  • Re-balance the Food division vs. the Pet Food division

This expansion strategy materialized  in both greenfield developments, with the creation of new production sites in the US, Canada, Latin America, Russia, South Africa and Thailand, and external growth with no less than 6 successful acquisitions since our initial investment, including Confoco in Ecuador and Pacific Pure Aid in the US

Ixetic Hydraulic pumps for the automotive industry 2012 http://www.ixetic.com/
Hydraulic pumps for the automotive industry

Funds advised by Motion Equity Partners announced in October 2012 that it had agreed to sell ixetic, the leading producer of high-performance pumps for the automotive industry, to the global automotive supplier Magna International Inc

In March 2006, Funds advised by Motion Equity Partners acquired ixetic (former LuK Fahrzeug-Hydraulik), the European leader in the production of high-performance hydraulic pumps and innovative air conditioning CO² compressors for premium car manufacturers, for €258m
 
Ixetic, with its headquarters in Bad Homburg (Germany), mainly focuses on the premium segment of the automotive market, with customers including Daimler, BMW, Audi/Volkswagen, Land Rover and Toyota as well as the LUK/Schaeffler group. ixetic operates two manufacturing facilities in Germany, and one in each of Bulgaria and China. Full year 2011 total sales of ixetic amounted to €300 million

During the investment period, ixetic has been successful in building up a strong market position worldwide, overcoming an adverse economic environment through:

  • Enlarging its blue-chip customer base
  • Implementing of a sustainable strategy allowing ixetic to navigate successfully through the 2008-2010 downturn, with stable double digit margins
  • Strengthening the R&D department allowing ixetic to be well positioned to lead automotive trends
  • Setting up of a new low-cost production facility in Bulgaria
  • Opening an assembly line facility in China with outstanding growth potential
  • Focusing on high level employees satisfaction and strong employer recognition in the industry
Gardiner Business Services 2006 http://www.adi-gardiner.com/
Business Services

Motion Equity Partners announces the disposal of Gardiner, largest independent distributor of electronic security products, for €150m

Gardiner was acquired from Rexel, who wished to reduce their debt. A planned auction process was pre-empted, resulting in a proprietary deal. Funds advised by Motion Equity Partners invested €41m for a fully diluted stake of 79%

Gardiner is Europe's largest independent distributor of electronic security products. The company sells an extensive product portfolio (7,500 products) to over 12,000 active customers, who are principally specialist installers. Gardiner's added value is mainly in offering a full range of specialized products, advice and technical support and logistics (96% of the customers are delivered under 24 hours). Main product lines are intruder alarm (53% of sales), closed circuit TV (29%), access control (9%), fire (6%). The company is present in eight countries throughout Europe and is organized in four geographical zones: UK/ Ireland (56% of sales), France (27%), Benelux (11%) and Scandinavia (6%)

During the life of the investment the emphasis has been on improving the quality of the company. The focus has been on:

  • Strengthening the management team
  • Integration of country operations
  • Expansion through opening new sales offices
  • Further development and cross selling of the product range
  • Enhanced cash flow management and reporting.
Aliplast Aluminium systems supplier 2006 http://www.aliplast.be/
Aluminium conservatory and window systems supplier

Funds advised by Motion Equity Partners announced the disposal of Aliplast, the supplier of aluminium systems, for €430m

In February 2004, Funds advised by Motion Equity Partners invested €71.9m in the €203m management buy-out of aluminium conservatory and window systems supplier Aliplast. The business was acquired from the company's founder, Peter Blijweert, his brother, the CEO and two minority institutional shareholders. Peter Blijweert reinvested for a 15% shareholding. The CEO made a significant commitment by rolling over all of his existing stake and by investing additional funds


Johan Verstrepen led Aliplast's management team with Oswald Anne as Financial Director. We introduced Jean Beeckman as Operating Partner with useful in-depth experience of the building products sector through his time with Etex

Aliplast is a supplier of aluminium systems for use in conservatories, windows and doors. Its strategy is built around vertical integration with design, extrusion, painting and thermal insulation of aluminium profiles on the same site. At acquisition, Aliplast was headquartered in Belgium and its core countries of operation were Benelux, France and the UK with more recent expansions into Poland, La Reunion and China. The business had reached the point where the scale and international spread were reaching the limit of the founder's capabilities

During the investment period, focus was put on:

  • Disposing of four non-core businesses;
  • Migrating the international operations from a high degree of autonomy to a consolidated group approach with an emphasis on sharing innovation and best practice, and treating manufacturing as a group resource;
  • Introducing significant improvements to reporting systems and controls;
  • Introducing a culture and focus on cashflow.

Organic sales have also grown strongly during the three years since Funds advised by Motion invested, rising from €158m in 2003 to an estimated €223m in 2006