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Exclusive Financial Advisor to the management of IDAK in the roll-over transaction to TowerBrook Capital Partners
On 12 July 2024, the IDAK Food Group (IDAK) announced a change of ownership. The London and New York-based investment company TowerBrook Capital Partners replaces the previous financial companies Invision and Nord Holding as the new majority shareholder. The investment aims to strengthen IDAK’s rapidly growing capital base for the growth of its companies and further acquisitions in Europe. The well-established management team around IDAK CEO Christof Lehmann will retain a broad-based minority stake in the company.
IFBC acted as exclusive Financial Advisor to the management of IDAK. In particular, it was important to ensure a consistent treatment of various elements with respect to the investment companies involved in the sale and reinvestment in order to maintain protection as minority shareholders, manage the personal risk/return profile and optimize the exit proceeds. The solution developed ensures that management is able to realize its share of the value created in the active development of IDAK.
Christof Lehmann, CEO of IDAK: “IFBC's independent and excellent professional advice during the various phases of the roll-over transaction was extremely valuable for the management.”
The IDAK Food Group includes KADI AG in Langenthal and Margherita Srl in Italy, as well as Romer’s Hausbäckerei in Benken SG. The group makes it possible to make strategic acquisitions. IDAK’s aim is to further expand a strongly networked growth platform of specialized companies and manufacturers in the premium frozen food sector in Europe. IDAK currently consists of the three segments “Potatoes & Snacks”, “Pizza & Pizza Snacks” and “Baked Goods & Snacks”. In 2023, the Group employed around 1,000 people and generated sales of around CHF 250 million.
TowerBrook Capital Partners is a purpose-driven, transatlantic investment management firm that has raised in excess of $23.9 billion to date. As a disciplined investor with a commitment to fundamental value, TowerBrook seeks to deliver superior, risk-adjusted returns to investors on a consistent basis, guided by TowerBrook Responsible OwnershipTM principles which are central to the firm’s value creation strategy. TowerBrook partners with talented, experienced managers and senior advisors who share the firm’s values and support its investment objectives, providing capital and resources to transform the capabilities and prospects of the businesses in which it invests, driving better outcomes for all stakeholders. TowerBrook takes an entrepreneurial, multinational, single-team approach and since inception in 2001, has invested in more than 90 companies on both sides of the Atlantic. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation, demonstrating leadership in its commitment to environmental, social and governance (ESG) standards and responsible business practices.
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