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Consumer & Retail | Private Equity | TMT

EMP Merchandising GmbH has been acquired by Sycamore Partners

The private and financial shareholders of EMP Merchandising GmbH (EMP) have sold the company to Sycamore Partners and to the management team for an undisclosed consideration.

EMP is a Lingen, Germany-based multi-channel retailer that has been selling rock music-inspired merchandise since 1986. EMP is a pan-European operation with a presence in fourteen countries, including Germany, France, Spain, Italy, the United Kingdom, Austria, Switzerland, the Netherlands, and the Nordic region. In addition to a prominent webshop, EMP operates four retail stores in Germany and Austria. More than 90% of orders come through EMP's website. Main product categories include textiles, street wear, fun products, music, posters and accessories. The company has secured the business model and their margins sustainability even against large market players such as Amazon, Ebay, etc. and has a high level of customer loyalty.

Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than US$3.5 billion in capital under management. The firm’s strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses.

Nearly 80% of the shares in EMP were held by the three founders of the business and the remaining 20% by a financial investor, who acquired the minority stake in 2011 in order to streamline operations and prepare the company for a professional sales process.

Oaklins' team in Germany initiated the transaction and advised the sellers in the process. In total, over 80 companies were approached via Oaklins' teams. After receiving 14 indicative offers, our German team, in a structured and competitive bidding process, was able to achieve a very attractive purchase price for the sellers. Oaklins Cavendish, based in the UK, supported the pitch and the drafting of the information memorandum.

Parties

Talk to the deal team

Dr. Florian von Alten

Managing Partner
Hamburg, Germany
Oaklins Germany

John Farrugia

Principal
London, United Kingdom
Oaklins Cavendish

Lord Leigh of Hurley

Principal
London, United Kingdom
Oaklins Cavendish

Jonathan Buxton

Partner
London, United Kingdom
Oaklins Cavendish

Christoph Rummelt

Director
Hamburg, Germany
Oaklins Germany

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