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H.I.G. WhiteHorse Provides Financing for Capvis’ Acquisition

October 03, 2016, 07:43 AM
Filed Under: Consumer Products

H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital, has supported Gotha Cosmetics’ acquisition by Capvis Equity IV LP, a fund advised by Capvis Equity Partners AG (together “Capvis”) by providing funding to support a €65 million unitranche facility arranged by Credit Suisse. Gotha Cosmetics is a developer and manufacturer of private label cosmetics mainly focusing on lips, eyes and face products. Based in Italy, Gotha Cosmetics was founded in 2005 and has become a key partner for both independent beauty brands and multi-national customers evolving towards more outsourcing-based production models. Capvis will further develop Gotha Cosmetics and help it grow its revenues and international reach.

Appu Mundassery, Managing Director at H.I.G. WhiteHorse, said: “We are delighted to assist Capvis by providing a tailor-made financing solution for the acquisition of Gotha Cosmetics. This transaction demonstrates our ability to support high-quality businesses with bespoke, flexible and committed financing solutions in a timely manner; we continue to regard Italy as a key market and see more opportunities in the near future”.

Gotha Cosmetics Srl. was founded in 2005 as a private label cosmetics manufacturing company located in the province of Bergamo, near Milan, the Italian colour cosmetics hub, with the aim and vision of becoming a global point of reference in colour cosmetics innovation. As a one-stop-shop partner for the global cosmetics industry ranging from prestige, masstige to mass market brands, Gotha researches and creates new colouring cosmetics formulae, manufactures bulk products, industrializes new products and offers add-on filling and packaging solutions.

Capvis is the leading private equity firm based in Switzerland. It invests in German-speaking Europe and selectively in Northern Italy.

H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. Credit facilities typically range from €10 million to €75 million for companies with revenues of €40 million or more.

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