3i and funds take majority stake in cosmetic packaging leader Geka

3i, an international investor focused on private equity, infrastructure and debt management, and funds managed by 3i have agreed to acquire a majority stake in Geka, a leading manufacturer of brushes, applicators and comprehensive packaging systems for the cosmetics industry. The company is being acquired from Halder, an investor focused on medium-sized businesses. The acquisition price is not being disclosed. Geka, headquartered in Bechhofen, Germany, serves both the mass market and premium segment for packaging in the cosmetic industry. In addition, it distributes cosmetics products via its subsidiary Victoria.

Founded in 1925, the company has a broad patent and product portfolio. Geka is a pioneer in innovation of plastic injection moulding for mascara brushes and mascara packaging as well as a development partner of market leading international cosmetics groups including Procter & Gamble, Avon and LVMH. The company runs production facilities in Bechhofen, Germany and in Elgin, Illinois, USA with an additional sales office in France.

The packaging manufacturer employs around 650 staff globally and generated revenues of approximately €100 million in 2011.Geka’s future growth will come from its strength in innovation and its international expansion, particularly into China and Brazil. This will ensure close proximity to global customers and distribution partners in high growth emerging markets. @VISORY partners acted as Exclusive Financial Adviser to 3i.

The deal team led by Ralph Schmücking, Co-Founder and Managing Director, supported 3i by structuring and co-ordinating the acquisition process. Ralph Schmücking commented: “In the last decade @VISORY has built a long-term relationship with 3i supporting the private equity investor in various transactions.” With an advised transaction volume of approx. € 1bn in 2011 and 40 professionals @VISORY is a leading independent and privately owned corporate finance boutique.

Headquartered in Wiesbaden with offices located in the UK, US and China the company is specialised in mid-cap transactions with volumes between € 25m and 500m.