Stirling Square sells Verescence French Bottors to Movendo and Draycott

Stirling Square Capital Partners has sold Verescence, a specialist in French glass containers for the perfumery and cosmetics industry, Movendo Capital and the Draycott asset manager.

According to a statement reviewed by Bloomberg News on Monday, the European private capital firm completed the sale of Vrescence, which initially acquired in 2019 as the first investment of its fourth fund. During his property, Stirling Square supervised an investment of € 100 million ($ 113 million) to expand the production capacity and company automation capabilities.

The transaction values ​​vescence in approximately € 490 million, including debt, according to familiar sources with the issue that anonymity requested as the details remain private.

Founded in 1896, Versescence specializes in the manufacture of glass bottles for perfume marks and luxury cosmetics. Its customer list includes Hermès, LVMH and L'Oréal. The company employs 2,500 people worldwide and operates seven manufacturing sites in France, Spain, North America and South Korea.

Stirling Square currently manages more than 3 billion euros in assets and generally invests in companies with business values ​​ranging from € 100 million to € 500 million.

Fashionnetwork.com with Bloomberg