News from Credit Solutions Partner

• CSP provides flexible capital to build a platform “IRIS” in order to consolidate the market for high-end opticians
• The founding team of IRIS has developed a unique approach towards consulting patients and customers with regard to prescription glasses and bifocal lenses
• IRIS aims to provide succession solutions to optician store owners who intend to retire over a 1–3-year time horizon

CSP investment S. à r.l. (“CSP”), the European multi strategy investment manager specialising in lending solutions to European small- and midsized companies, establishes a partnership with IRIS (alias). The group currently operates six optician stores in Bavaria, Baden-Wuerttemberg, Hesse, and Berlin and intends to expand its reach into nearby locations. CSP and IRIS have been working together for the past year in order to find the right approach to start acquiring small optician stores with focus on high quality products and service. CSP will support IRIS in its endeavours by providing capital for acquisitions, while IRIS will be in charge of operations and retain the ownership of the group. Together, the partners plan to acquire at least 50 shops over the next few years.

IRIS has a differentiated approach towards the optician service portfolio. Using the latest technological equipment, IRIS provides state of the art services to its patients and clients. For storeowners, IRIS provides substantial value as IRIS has centralised purchasing, marketing, customer relationship management, inventory management as well as purchasing of equipment and store design. Moreover, newly joined stores are also able to extend their product portfolio by, e.g., including bespoke and tailormade frames to their offering. Overall and supported by the IRIS platform, opticians can focus on what they do best: take care of their clients.

CSP and IRIS are interested in getting to know entrepreneurs who would like to discuss a potential cooperation.

CSP was advised by McDermott, Will & Emory (Oliver Hahnelt, Nikolas Koutsos and Markus Cejka). Further transaction details will not be disclosed.

• Merger creates one of the largest nutritional supplements and consumer health groups with European reach
• Newly formed group covers entire value chain from sourcing, manufacturing, marketing and distribution
• CSP supports acquisition and integration of EVP Group as a strategic financial partner

CSP investment S. à r.l. (“CSP”), the European multi strategy investment manager specialising in lending solutions to European small- and midsized companies, continues its partnership with Vitafy Brands. Vitafy Brands and CSP have started working together at the beginning of 2021, when CSP provided an acquisition financing for fast-growing e-commerce brand “vom Achterhof”. CSP is now delighted to support the merger of equals between Vitafy Brands and EVP Group.

Vitafy Brands has grown to be a leading consumer health D2C online platform for its own brands focusing on the development and offering of functional Consumer Health OTC products for health focused customers. Vitafy leverages its direct-to-consumer access via dedicated branded online shops to realize best in class product development and marketing advantages.

Vitafy Brands successfully conducted several acquisitions in the healthy living space over the last years. In 2019 Vitafy Brands acquired Bodylab (www.bodylab24.de) and Gymqueen (www.gymqueen.de). In the beginning of 2021 two further acquisitions with 'vom Achterhof' (www.vom-achterhof.de) and C.P. Sports (www.cp-sports.de) followed.

Hamburg based EVP Group (www.evp.group) combines and coordinates competencies & resources of mid-sized healthcare experts with a focus on R&D and production as well as private label and contract manufacturing and development business. EVP Group emerged from Euro Vital Pharma GmbH (www.eurovitalpharma.com) which has developed as a pharmaceutical company over the last 25 years into a leading provider in the health care sector in the DACH region. With its many years of experience in the development, production and marketing of health care products, EVP Group now supports customers from drugstores, discounters, grocery, pharmacies and brand owner in strategy and development of their product. In addition to these strong partnerships, EVP Group is growing internationally with its own brands heilusan, Vitawell, Principle, Vive+, PowerGym and DRKU.

CSP recognised the strong transaction rationale of integrating own production facilities, expanding its reach into stationary retail, and extending the product offering to other European countries. Together with the shareholders of the group, CSP envisages to support further buy & build opportunities.

CSP was advised by McDermott, Will & Emory (Oliver Hahnelt, Nikolas Koutsos and Markus Cejka). Further details are not to be disclosed.

After the end of the - Corona-related - insolvency in self-administration and successful restructuring of Hallhuber, CSP Investment S.à r.l continues to support the company with long-term financing.
Due to the excellent cooperation between management, Robus and CSP during the difficult lock-down phases, it was possible to secure the interests of the stakeholders involved and to maintain an established company in the field of premium women's clothing.

• Leading health and nutrition platform in the German speaking market 
• Fast-growing industry driven by consumer mega trends and multi-channel e-commerce approach
• CSP supported acquisition and integration of a natural and plant-based ingredients brand

CSP investment S. à r.l. (“CSP”), the European multi strategy investment manager specialising in lending solutions to European small- and midsized companies, is partnering with a health and nutrition platform to acquire an e-commerce company selling branded natural ingredients and products (“The Company”). The Company has managed to gain and maintain more than three million customers over the last decade and has developed a strong product portfolio of over 400 items. Moreover, it has a clear route-to-market strategy via its own online shop and third-party distribution channels.

CSP recognised the strong value proposition and trajectory of the Company and offered a bespoke transaction solution addressing the respective requirements of all stakeholders involved. The EUR 28m facility will enable the platform to grow and integrate the Company, generating significant synergies for both businesses. 

• Sofatutor (“the Company”) is the most comprehensive digital education platform for K-12 students in the German speaking countries
• More than 1 million users are currently tutored by the Company’s offerings
• Further broadening of service offerings as well as in-school integrations to drive growth

CSP investment S. à r.l. (“CSP”), the European multi strategy investment manager specialising in lending solutions to European small- and midsized companies, has been partnering with GIMV to support Emeram Capital Partner’s (“Emeram”) acquisition of sofatutor from the previous shareholders. The investment will lead sofatutor into its next phase of growth. The Company is viewed as one of the leading providers of tutoring to K-12 students in the European market, enabling access to online learning tools and first-class online education.

Founded in 2008, the Company’s platform supplies more than 11,000 videos and several thousand exercises and worksheets for 14 different school subjects. Sofatutor is widely used by students and teachers and has been introduced into the curriculum by Federal States of Saxony and Bremen. The Company’s SaaS model ensures a convenient access to the web-based platform or to the sofatutor app, accompanied by additional support via the chat by qualified teachers.

The transaction is subject to the usual conditions, including approval by the competition authorities. Further financial details are not to be disclosed.

Hallhuber is a leading vertically integrated fashion retailer. The company was acquired in 2015 by Gerry Weber Group, which has been in insolvency proceedings since January 2019.

Hallhuber stands for stylish, feminine total looks and high quality at relaxed prices, designed for self-confident women. The assortment is sold in more than 400 shops as well as via Hallhuber's own online platform.