Exit: EQT sells CBR Fashion Group to Alteri Investors
Munich — Private equity investor EQT sells CBR Fashion Group to Alteri Investors. The parties have agreed not to disclose the sales price.
With its Street One and Cecil brands, the CBR Fashion Group is one of the five largest women’s fashion manufacturers in Germany. The group employs over 1,200 people and supplies more than 8,300 sales outlets in 19 European countries. In November 2017, CBR Fashion Group issued a bond in the amount of 450 million euros through. In the past fiscal year to June 2017, CBR had generated sales of around 579 million euros, with earnings before interest, taxes, depreciation and amortization (Ebitda) of around 100 million euros, according to the company. Private equity investor EQT had owned CBR Fashion Group since 2007.
The British investment company Alteri Investors was founded in 2014, the company invests in European retail companies. The joint venture partner is the investment manager Apollo Global Management.
P+P Pöllath + Partners advisedEQT on the management investment in the transaction with the following Munich team:
Dr. Benedikt Hohaus (Partner, M&A/PE, MPP)
Dr. Tim Kaufhold (Counsel, M&A/PE, MPP)
Dr. Sebastian Sumalvico (Associate, M&A/PE, MPP)
Matthias Oberbauer (Associate, M&A/PE, MPP)
P+P Pöllath + Partner regularly advises EQT on management investments, for example on the sale of SAG to SPIE or the sale of BSN medical to the Swedish SCA.