IK Investment Partners has acquired cosmetic ingredients manufacturer and distributor Unipex as it looks to further expand in key global markets.
The deal sees Unipex end its four year partnership with AXA Private Equity; a relationship that saw the ingredient supplier’s revenue steadily increased to €200 million ($259m) in 2012.
The new ownership is expected to be in place by the end of the month and Unipex is optimistic about the future growth of its business after a successful spell under AXA.
“We look forward to working with IK Investment Partners as we grow Unipex Group's leading global market position. We anticipate a successful close to 2012 and are excited about the many opportunities we see in our target markets,” says Patrice Barthelmes, CEO, Unipex Group.
Over recent years, Unipex Group has strengthened its position as a global provider, building strong relationships with its customers, partners and suppliers, launching new products and has been appointed by major suppliers to represent them in key markets.
Rémi Buttiaux, Partner at IK and advisor to the IK2007 Fund, said: "Unipex is led by an exceptional management team which has established leading positions in its target markets.”
“Its diversified business mix has proven to be resilient to recession while benefitting from increasing demand for natural cosmetic products. We are looking forward to supporting Unipex expand its offering and leverage its market position."
AXA originally acquired Unipex from Atrium Group in 2008. A combination of organic growth and four build-up acquisitions have enabled the Group to extend both its geographic reach and product offering, therefore gaining a leading position within its core markets.
"Despite the tough economic environment, with our support Unipex Group has successfully implemented its growth strategy and ensured the next stage of its development,” said Béatrice Beitmann, managing director, AXA Private Equity.
“Our continued commitment and support has seen the Group become a major global player in its sector. The company is now well equipped to continue its future growth in its key markets."