Houlihan Lokey Advises Romar Global Care

Houlihan Lokey is pleased to announce that Romar Global Care, a personal care, home care, and cosmetics specialist owned by GPF Partners, has been acquired by a consortium led by DeA Sviluppo Sostenibile, a fund managed by DeA Capital Alternative Funds SGR S.p.A. (DeA Capital), and ACON Southern Europe Management, LLC (ACON). The transaction was closed on 4 June 2024 and the financial terms of the deal are not disclosed. Houlihan Lokey acted as the sellside advisor to Romar Global Care and its shareholders.

Headquartered in Sagunto, Spain, Romar Global Care is among the leading Spanish manufacturers and distributors of personal care, cosmetics, and home care products, both in aerosol and liquid formats. The group, which achieved a turnover of €120 million in 2023, recently executed an ambitious industrial project to transfer its existing facilities into a new 50,000-square-metre facility located in Sagunto. Romar Global Care will now be able to nearly triple its production capacity in order to achieve its ambition for further international expansion.

Romar Global Care is the result of the 2019 merger between Quimi Romar and Envasados Xiomara, executed by GPF Partners. Since GPF Partners’ investment, the group has been able to double its production capacity, consolidate its market leadership by boosting its international presence, and further develop its own brand portfolio, which currently includes brands such as Agrado, Mayordomo, Amalfi, Sairo, Destello, and Garley, among others.

Today, Romar Global Care exports to more than 100 countries worldwide, generating 60% of its revenues outside Spain (its home market), with a relevant presence across Africa, the Middle East, and Latin American markets. The group operates through a multi-channel strategy (international, modern retail, discount stores, and co-packing) and a one-stop-shop offering approach, by selling a wide range of product categories (more than 3,200 SKUs) to a diverse set of customers, such as El Corte Inglés, Carrefour, Lidl, Auchan, IFA, Euromadi, Primor, and Druni, among others.

DeA Capital and ACON acquired the group to further develop their more value-added offering, expand geographically, and continue the initiatives to increase their production capacity and distribution networks. Following the opening of its new production facilities in Sagunto, the group has ambitious national and international expansion plans, in which the new consortium will play a key role thanks to its international experience.

GPF Partners is a private equity firm founded in 2015 that provides capital and strategic support to Spanish SMEs to promote their growth and development. GPF Partners has more than €1,200 million of assets under management between GPF I, GPF II, GPF III, GPF IV, and Inbest GPF.

Headquartered in Italy, DeA Capital is a private equity firm specialising in investments in Italian and European SMEs, with a propensity for international growth and a business model characterised by environmental, social, and governance criteria. DeA Capital Alternative Funds SGR, wholly owned by DeA Capital, part of De Agostini Group, is the leading Italian private equity manager with more than €5 billion in assets under management divided among funds of funds, direct private equity funds, and turnaround/NPL funds.

Headquartered in the U.S., ACON manages private equity funds with investments in Latin America, the U.S., and Spain. With offices in Washington, D.C., Los Angeles, São Paulo, Bogotá, Mexico City, and Madrid, ACON is responsible for managing more than $7 billion of assets, within a diverse portfolio of companies across the Americas and Spain.

Houlihan Lokey acted as the sellside advisor to Romar Global Care, successfully advising the company and its shareholders on all aspects of the transaction. This deal represents another successful transaction for Houlihan Lokey in Spain and underscores the firm’s leadership position in the Spanish middle market and its market-leading position as a trusted advisor to beauty and personal care companies.

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