Exceeds Original Fund Target of €400 million
Greenwich, CT | London, UK | December 20, 2019 – Alvarez & Marsal Capital (“AMC”), a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies, announced today that its third strategy, A&M Capital Europe, SCSp (“AMCE” or the “Fund”) held the final closing at its hard cap of €650 million, exceeding its original target of €400million. AMC is strategically associated with Alvarez and Marsal (“A&M”), one of the largest operationally-focused consulting firms in the world.
AMCE Fund I will enable A&M Capital Europe to pursue attractive control oriented investments in middle-market European companies that are undergoing a management/ownership transition or can benefit from access to significant operational expertise in the areas of corporate carve-outs, pan-European consolidation, special situations or businesses requiring specific support to pursue long-term growth.
AMCE has a team of seventeen London based professionals from nine European countries. The Fund is broadly sector agnostic with key focus areas in consumer, industrials and business services targeting controlling stakes in companies wIth EBITDA between €15 million and €50 million. AMCE has already completed a number of significant transactions across Europe including the carve-out acquisition of the French sports and protective eyewear company Bollé Brands from Vista Outdoor Inc. and the add-on acquisition of the Californian eyewear brand SPY+. In addition, AMCE has acquired a controlling interest in La Patria, a leading Italian provider of remote monitoring security surveillance systems.
The Fund attracted a balanced and strong investor base from Europe, the Middle East and North America, including strong demand from AMC’s diverse network of existing investors plus investors new to A&M Capital, including public pension funds, corporate plans, insurance companies, fund-of-funds, foundations, endowments and family offices. In total, the General Partner and its related entities committed approximately €48 million to AMCE and comprise almost 7.5% of its committed capital.
“We are extremely pleased with the outcome of AMCE and are fortunate to count some of the largest and most sophisticated private equity investors from around the world as our partners in this new strategy”, said Mike Odrich, Managing Partner & Founder of AMC. “AMCE Fund I provides us with the capital we need to execute our investment strategy throughout the economic cycle and across the European marketplace”, added Jack McCarthy, Managing Partner & Founder of AMC. Commenting on the final close, Mark Kelly, Managing Partner, A&M Capital Europe, said: “We are very pleased to have closed our first fund and are grateful for the strong support demonstrated by investors, which helped us to significantly exceed our original fund target. We will continue to accelerate the growth of our existing investment portfolio and we are highly active in pursuing new opportunities across Europe, leveraging the team’s extensive experience and expertise alongside A&M Capital’s global network.”
Evercore Partners and Stifel, Nicolaus & Company acted as fundraising advisors and Simpson Thacher & Bartlett LLP acted as legal advisor.
About A&M Capital Europe:
A&M Capital Europe with total assets under management of €650 million, is A&M Capital’s European middle-market investment strategy. AMCE leverages a highly experienced team of investment professionals, together with Alvarez & Marsal’s 1,000 operating consultants across 19 European offices to bring pan-European operating capabilities and industry relationships to bear in the sourcing, due diligence and post-acquisition performance improvement of investment opportunities. AMCE has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success.
About Alvarez & Marsal Capital:
Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $3 billion in total assets under management across four funds and three investment strategies. The privately-owned firm is led by a highly experienced investment team, which is augmented by its strategic association with Alvarez & Marsal, one of the largest operationally-focused advisory firms in the world. AMC’s business model combines a focus on middle-market private equity investing with the deep operational expertise, industry knowledge and global corporate relationships of A&M, making it a uniquely attractive partner to management teams, corporates and business owners.
About Alvarez & Marsal:
Alvarez & Marsal is a privately-owned independent global professional services firm that leverages an industry leading group of experienced operating executives who help businesses improve performance, solve problems and unlock value for stakeholders. A&M has over 4,000 operating professionals and employees in 60 offices across North America, Europe, the Middle East, Asia and South America. A&M has expertise across all major industry sectors and extensive functional capabilities in nearly all primary areas of a business enterprise including, amongst others, operations, revenue enhancement, sales and marketing, manufacturing, IT, finance, working capital management, supply chain and logistics, real estate, human capital management, merger integration and carve-out support.