22 October 2020
Oakley Capital Investments Limited
Oakley Capital acquires WindStar Medical, a leading consumer healthcare company
· Transaction: Oakley Fund IV agrees to acquire WindStar Medical
· Investment: OCI's indirect contribution will be up to c.£43 million
Oakley Capital Investments Limited1 (the "Company" or "OCI") is pleased to announce that Oakley Capital IV2 ("Fund IV") has agreed to acquire WindStar Medical GmbH ("WindStar Medical") from ProSiebenSat.1 majority-owned NuCom Group.
WindStar Medical is Germany's leading over-the-counter ("OTC") consumer healthcare company. The platform, which is expected to generate over €120 million in revenues this year, d esigns, develops and commercialises branded consumer health and private label products, with a track record of establishing best-in-class medical formulations and brands.
The Consumer Brands segment of WindStar Medical offers a wide range of premium high-growth branded products in Germany, including SOS ( wound care / disinfectants), Zirkulin (gastro-intestinal care), GreenDoc (mental wellbeing) and EyeMedica (eye health). WindStar Medical is also a provider of Private Label products to the leading German drug stores and supermarkets, whilst also developing an international distribution footprint through existing and new partners.
WindStar Medical benefits from the long-term structural growth of Germany's consumer health market. This growth is being driven both by demographic trends, such as an ageing population, and a shift in consumer preferences driven by factors such as increased awareness of physical and mental wellbeing and willingness to prevent illness. Through its investment, Oakley will support the company's management team as they continue to drive revenue growth, product innovation, digitalisation, as well as identifying opportunities to scale the business through accretive acquisitions.
The investment in WindStar Medical builds on Oakley's successful track record of investing in leading consumer platforms in the DACH region, including Verivox, Parship Elite and more recently Wishcard Technologies and 7NXT / Gymondo. The business displays the typical Oakley deal characteristics, as it has an asset-light business model, industry-leading operational capabilities, and an attractive growth profile.
OCI's indirect contribution through its interest in Fund IV will be up to c. £ 43 million, dependent on the capital structure at completion, and the transaction is expected to be completed by the end of the year.
Peter Dubens, Managing Partner of Oakley Capital, commented:
"WindStar Medical is a unique OTC platform in a highly attractive space that Oakley is excited to be investing in, having closely followed both the development of the business and management over recent years. We look forward to working together with the team and utilising our broad expertise in digitalisation, go-to-market and M&A to help WindStar Medical accelerate its growth trajectory in Germany and international markets."
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For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget, Investor Relations
Greenbrook Communications Limited
+44 20 7952 2000
Alex Jones / Gina Bell / James Williams
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Gillian Martin / Owen Matthews
Notes:
This announcement contains inside information for the purposes of the Market Abuse Regulation (EU) No. 596/2014
LEI Number: 213800KW6MZUK12CQ815
1 About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment vehicle that aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds2.
A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/
2 The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV and Oakley Capital Origin Fund are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.
Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the Official List of the Financial Conduct Authority. Therefore, the Company has not been required to satisfy the eligibility criteria for admission to listing on the Official List and is not required to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional, professional, professionally advised and knowledgeable investors who understand, or who have been advised of, the potential risk from investing in companies admitted to the Specialist Fund Segment.