Alpinvest seeks to profit from ageing with Hans Anders deal
EUROPE - The €40bn private equity investor Alpinvest Partners is aiming to generate returns from population ageing by co-investing in the acquisition of Hans Anders Group, which makes glasses and hearing aids.
In a joint statement, Alpinvest and the €1.5bn Alpha Private Equity Funds 5, the lead investor, said the overall demand for these products was "continuously growing" because of population ageing, and that they would "encourage" Hans Anders to realise its full potential.
They declined to disclose financial details of the deal with the Dutch Gilde Buy-out Funds and Comnaar Investments. However, the retail chain's turnover was €160m in 2009.
Under the brands Hans Anders and Het Huis, the rapidly expanding Dutch group is running almost 370 stores in the Netherlands, as well as 88 stores in Belgium and 48 in France.
Alpinvest - one of the world's largest private equity asset managers - was founded by the €239bn civil service scheme ABP and the €100bn healthcare scheme PFZW in 1999.
It invests worldwide across the primary and secondary funds, as well as in co-investment channels, covering the private equity spectrum, including mezzanine.
Although both pension funds sold the private equity house to the US Carlyle Group earlier this year, they are still Alpinvest's main clients.
Alpha is a French independent private equity partnership, investing in medium-sized companies in Continental Europe and targeting companies with an enterprise value of €50m-500m.