Verdane closes continuation vehicle for Verdane Capital VII portfolio companies

To optimise value creation in companies from its strongly performing 2009-vintage fund Verdane Capital VII, Verdane has established a new vehicle, Verdane Capital 2019. The new vehicle provides both additional time and capital for growth.

The companies being transferred into the new vehicle include Babyshop, Europe’s largest multi-channel children’s clothing and products retailer; BEWiSynbra Group, a leading producer of sustainable packaging and insulation; Marine Jet Power, a leading global provider of waterjet propulsion systems; and MatHem, Sweden’s largest online grocery store.

Verdane Capital VII is a top-quartile fund in its vintage and one of the top five performers in Europe from 2009, according to Preqin. Successful exits from the fund, prior to the establishment of Verdane Capital 2019, include EasyPark, Scanacon, Codenomicon and CRF Health.

Verdane Capital 2019 is backed by Adams Street Partners as the lead buyer, Flexstone Partners, LGT Capital Partners and existing Verdane Capital VII investors.

In a move to change the industry standard on GP-led processes, Verdane opened up the process to other private equity managers and made clear that it also would accept bids where a new GP would manage the portfolio going forward.

Verdane was advised by Rede Partners LLP, a leading independent fundraising and secondaries adviser to the private equity industry.