Global asset manager The Carlyle Group has announced that its affiliated funds have entered into an agreement to sell ADA Cosmetics, a German supplier of premium hotel body care products and accessories, to Ardian, an independent private investment company.
ADA Cosmetics, headquartered in Kehl, Germany, is the largest supplier of cosmetics and accessories to premium hotels in Europe, with growing presence in Asia and the Middle East. Its customers include luxury hotels such as Brenners Park Hotel in Baden Baden, Etihad Tower in Abu Dhabi and, Badrutt's Palace in St Moritz. Since Carlyle's 2011 investment in the company, it has seen organic revenue growth of more than 20% to over €50m.
Commenting on the transaction, Thorsten Dippel, Director of the advisory team to the Carlyle Europe Technology Partners funds (CETP) said: "Through close collaboration with ADA's talented management team and Carlyle's network, we fostered a number of successful initiatives at the company, which strengthened ADA Cosmetic's position in its core markets and expanded its international presence. ADA has delivered outstanding growth during the time we have worked with them and we feel privileged to have been partners of the management team. We wish them every success for the future."
Wilhelm Könning, Chief Executive Officer of ADA Cosmetics said: "We have greatly enjoyed working with Carlyle, who helped us further grow the company into a best-in-class supplier to some of the leading names in the hospitality industry, while maintaining highest product and service standards."
