Recent News
Quilvest Capital Partners (“Quilvest” or “QCP”), working with operating partner Arax Properties Limited, is pleased to announce that its dedicated real estate investment arm, QCP Real Estate, has acquired Falcon Works (the “property”), a multi-let industrial estate in Loughborough, UK.
The 53-acre property, strategically located in the heart of the UK Midlands’ ‘Golden Triangle’ logistics and industrial area, has strong upside potential with scope for increased occupancy rates and rental income. The property also offers great potential for the development of unused land and the redevelopment of obsolete space into new, grade-A space with a more efficient vehicle circulation plan and with significantly improved ESG characteristics. Quilvest intends to invest significantly in this redevelopment to support the growth of SME businesses in the Loughborough area.
This transaction is consistent with QCP Real Estate’s expanding strategic focus on the industrial and logistics sector, and strengthens the firm’s track-record investing in UK multi-let industrial projects. It is QCP Real Estate’s fourth transaction in this sector globally in the past nine months, with acquisitions in the US, UK and continental Europe. Previous investments in the sector include a multi-let industrial property investment vehicle created in partnership with Grosvenor, which was sold in 2019 for £155 million.
Patrick Laroche, Principal at Quilvest Capital Partners, commented:
“We are delighted to have completed this acquisition which maintains QCP Real Estate’s strong legacy investing in multi-let industrial assets globally. This is a highly attractive property, due to its favourable location and good accessibility, with significant scope for value add through development and commercial initiatives. This transaction is aligned with our strategic commitment to this segment, where we have significant UK experience via previous investments.”
-ENDS-
About Quilvest Capital Partners
Quilvest Capital Partners , part of the Quilvest Group, is an alternative investment manager, currently managing around US$7 billion of assets. In addition to real estate, QCP operates investment programs in funds, direct private equity and private debt.
As part of its Real Estate activity, QCP targets middle-market value add opportunities in Europe and the United States. Its team of 12 highly experienced professionals based in New York, London and Paris have completed 28 deals since the inception of QCP Real Estate.
Quilvest is proud to announce that Phaidon International, the professional services firm focused on identifying, sourcing and securing business critical talent to roles across more than 4,000 clients, and a company in its Direct PE’s Club Fund I portfolio, has entered into an agreement to be acquired by a global investor consortium led by funds managed by Further Global. The investment will see Quilvest exit the business, with management retaining a significant stake. Further Global’s investment, supported by client funds from Neuberger Berman, Pictet and OPTrust, will continue to fuel Phaidon’s growth which will see the business scale to beyond 1,400 staff and 15 offices around the world by the end of 2022.
Harry Youtan, Chief Executive Officer commented, “Quilvest have been a fantastic partner for our business over the last four years. Their sponsorship has been invaluable to us as we have grown and scaled our commercial platform, whilst deepening our sector expertise. Looking forward, we are excited to partner with Further Global alongside a truly special group of investors whose experience, network and sophistication is impressive and will help our acceleration over the next phase of our journey.”
Phaidon International operates a deliberate brand strategy that delivers talent to sectors including Financial Sciences, Supply Chain, Life Sciences, Engineering, Technology and Regulatory & Legal. The company deploys its capabilities across its existing network of offices, with a number of other locations planned.
Olivier Sarkozy, Founder and Managing Partner of Further Global, added, “We really look forward to partnering with Harry and the Phaidon Team. In addition to Phaidon’s exceptional financial performance, market positioning and differentiated business model; is the quality of the Phaidon’s management team, who has engineered the firm’s differentiated value proposition. We very much look forward to supporting them as they continue to scale the business.”
Further Global Partner, Max Baumrin added: “Phaidon has differentiated itself by understanding its client’s needs and consistently delivering a quality product. As a result, we believe that Phaidon will continue to take share by expanding both geographically and across business lines, a strategy that we look forward to supporting.”
Jay Takefman and Thomas Vatier, Co-Heads of Direct Private Equity at Quilvest Capital Partners, commented, “Our journey with Harry and the Phaidon Team has been a brilliant relationship as the business has grown and evolved. It is rare to partner with a business that delivers such exceptional organic growth and operates with the level of discipline and rigor which Phaidon does. We are proud to have been part of such an incredible story, and are excited for Phaidon to achieve its ambitions”.
Benjamin Sass, Partner at Quilvest noted, “We are extremely proud of the performance of the business and to have helped Phaidon’s continued growth over the last 4 years.”
Phaidon was advised by Lazard as financial advisor and Travers Smith & Dechert as legal counsel. Further Global was advised by Kirkland & Ellis as legal counsel. Debt financing for the transaction was provided by Churchill Asset Management.
Specific financial terms are not disclosed.
Quilvest Capital Partners announces that it has signed an agreement to acquire a minority stake in Les Secrets de Loly, a premium natural haircare brand dedicated to the beauty of textured hair. The president and founder of the brand, Kelly Massol, will retain a majority stake.
About Les Secrets de Loly
Founded in 2009 by Kelly Massol, Les Secrets de Loly designs and markets premium haircare products (shampoos, conditioners, treatments and styling products) using natural ingredients, that are specifically designed for textured hair (wavy, curly and frizzy). Driven by the quality of its products and the strength of its brand, the company has grown exceptionally in recent years and has established itself as a leading player in France within the space.
Starting as an online blog giving tips and advice on curly haircare, Les Secrets de Loly rapidly amassed an engaged community following and began creating its first products in the Parisian kitchen of its founder in 2009. The brand is now followed by more than 170k users on Instagram and offers a targeted range of 15 products, with 3 more Ecocert-certified products in the pipeline for 2022. Les Secrets de Loly is sold through a high-quality distribution network with notable strength in France and through premium retailers as well as hair salons.
Les Secrets de Loly’s strategic plan focuses on accelerating growth through product innovation and the opening of new distribution channels, both in France and internationally. Quilvest intends to support this growth, in particular by allowing the company to benefit from the strength of its international network.
For more information, visit https://www.secretsdeloly.com/
Quilvest is pleased to announce that it completed the sale of Prospect Innovation Campus, a 23-building, ~505k square foot (“sf”), flex office and industrial portfolio located in Fort Collins, Colorado.
In April 2017, Quilvest formed a partnership to acquire the 23-building campus. The business plan focused on capturing some current yield, while leasing vacant space, marking rents to market and securing long-term lease extensions. The multi-tenant and multi-building campus was also believed to offer the potential for opportunistic divestitures throughout the investment period of individual buildings, or sub-portfolios whenever stabilization was achieved; enhancing the investment’s return profile.
Between September 2019 and January 2021 three buildings were sold in two separate transactions whose net sale proceeds returned all the invested equity capital.
Throughout the hold period, ~430k sf of leasing was completed through which the portfolio reached an ~96% occupancy rate and NOI was increased by ~30%. In addition to operational improvements, investor demand for the subject property type has strengthened over time which further increased the portfolio’s valuation.
Prospect Park was the second investment in the theme. Quilvest looks forward to building on this success with the new themes it targets in 2022.