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Aurelius Group

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AURELIUS Equity Opportunities SE & Co. KGaA
Company typeKommanditgesellschaft
IndustryAsset Management
Founded2005; 19 years ago (2005)
Founders
Key people
Dirk Markus, Gert Purkert, Donatus Albrecht, Steffen Schiefer, Fritz Seemann, Matthias Täubl, Tristan Nagler
Divisions
  • Aurelius Equity Opportunities SE & Co. KGaA (AEO, listed division)
  • Aurelius Growth Investments (AGI)
  • Aurelius Real Estate Opportunities (AREO)
  • Aurelius Finance Company (AFC)
  • Aurelius Refugee Initiative eV (ARI, charitable division)
Websitewww.aurelius-group.com

Aurelius Group is a German investment company with offices in five European countries.[1] The company focuses on alternative investment, private equity, private debt and real estate investments.

History

In 2005, Dirk Markus and Gert Purkert, both former McKinsey consultants, founded Aurelius as a privately held investment vehicle investing in small- and medium-sized companies.

In 2006 listed subsidiary Aurelius AG (today: Aurelius Equity Opportunities SE & Co. KgaA) was set up with a start-up capital of €500,000.[2]

On 1 October 2015 Aurelius changed from a joint-stock company into an limited partnership as SE & Co. KGaA.[3]

In April 2021, Aurelius announced that it had launched a €500 million investment fund specializing in corporate spin-offs and companies in transition, whose investors include US and European university endowments, pension funds, insurance companies and family offices.[4]

Divisions

Due to Aurelius Group’s approach to buying and developing value assets, it is often referred to as the German Berkshire Hathaway.[5] It has five divisions:[6]

  • Aurelius Equity Opportunities
  • Aurelius Growth Investments
  • Aurelius Real Estate Opportunities
  • Aurelius Finance Company
  • Aurelius Refugee Initiative

Aurelius Growth Investments is a long-term oriented private equity investor focussed on succession solutions for small and medium enterprises in Europe.[7] Aurelius Real Estate Opportunities focuses on investments in residential, office, retail, hotel and care properties as well as multi-storey and underground car parks.[8] Aurelius Finance Company is an alternative lender providing capital to European companies.[9] Non-profit charity Aurelius Refugee Initiative e.V. Aurelius conducts a support and aid program for people with migration backgrounds.[10]

Significant acquisitions

Schleicher Electronic was sold to Aurelius AG in 2007.[11][12]

In August 2019 Aurelius carved out the European operations of ceiling tile and grids business Armstrong from Knauf International.[13] The acquisition was completed in April 2020.[14]

Additionally, in August 2019 BT Group sold BT Fleet Solutions to Aurelius.[15] BT Fleet solutions was renamed to Rivus Fleet Solutions.[16]

Aurelius acquired VAG, a Mannheim-based manufacturer of water and waste water valves from US-based Rexnord. VAG generated sales of approximately €200 million in its 2017/18 fiscal year with about 1,200 employees.[17]

In 2018, it bought Ideal World, a British home-shopping TV Channel, and acquired Connect Books from Connect Group,[18] renaming it to Bertrams Group.[19]

In 2016, it acquired the European Business of Office Depot[20] and bought Calumet Photographic, Europe's largest photo equipment dealer.[21]

In 2014, the firm acquired the shoe business of Dr. Scholl's from Reckitt Benckiser.[22]

In April 2022, Aurelius completed the acquisition of McKesson UK and its UK businesses in a £477 million deal. The companies acquired by Aurelius include LloydsPharmacy, and AAH Pharmaceuticals.[23]

In April 2021, Aurelius completed the acquisition of SSE Contracting From SSE PLC for £27 million and rebranded it to Enerveo post acquisition.

In October 2023, Aurelius announced the acquisition of LSG Group, an airline catering and retail company. [1]

in November 2023, Aurelius acquired The Body Shop, a British ethical beauty brand, from Brazilian cosmetics group Natura for £207 million. This acquisition was part of The Body Shop's ongoing changes in ownership, having been previously sold in 2006 and 2017.[24] The Body Shop collapsed into administration in the UK less than three months after the take over. It owed creditors more than £276m at the time. https://www.theguardian.com/business/2024/dec/19/body-shop-is-back-for-good-and-back-in-profit-new-boss-tells-staff

In November 2023, it was announced that Aurelius was one of the companies that were interested in buying online retailer musicMagpie.[25]

Significant exits

Scandinavian Cosmetics Group was sold to Accent Equity for €60 million in October 2019.[26][27]

The solid board and printed carton business of the Smurfit Kappa Group, acquired in April 2015, with production sites in the Netherlands, Belgium and the UK, which was later renamed Solidus Solutions, was sold to Centerbridge in June 2019 for €330 million. This was the largest exit in the company's history to date for Aurelius.[28]

In 2017, it sold Getronics for €220 million;[29] it had been acquired from KPN in 2012.[30] That year, it also sold Secop for €185 million, which had been acquired from Danfoss in 2010.[31]

On 25 Mar 2024, SSE reacquired Enerveo from the Aurelius group for an undisclosed sum [32] SSE had previously sold the business, which was then known as SSE Contracting, to Aurelius in 2021 and due to difficulties post Aurelius acquisition, Enerveo has found it challenging to operate independently under the group. Following the repurchase, SSE will now work with Enerveo management to conduct a review to develop and implement a longer-term strategy for each part of the business.[33]

References

  1. ^ "DGAP-News: AURELIUS Group to expand its management team". Business Insider. July 17, 2018.
  2. ^ "Registerportal". HRB 221100. www.handelsregister.de (in German). 10 February 2015. Archived from the original on 2007-01-03. Retrieved 2019-01-22.
  3. ^ "Filing in Commercial Register completed". Archived from the original on 2019-12-05. Retrieved 2019-02-02.
  4. ^ "Aurelius wird zum Midcap-Investor" (in German). 19 April 2021. Retrieved 2021-04-30.
  5. ^ "A German holding company that Warren Buffett certainly would approve of: Aurelius. (translated from German)". boerse.de (in German). Retrieved 2019-01-22.
  6. ^ "Aurelius Group". Archived from the original on 2018-08-06. Retrieved 2019-02-02.
  7. ^ "Aurelius Growth Investments obtains EUR120m in capital commitments to finance additional acquisitions | Private Equity WireAurelius Growth Investments obtains EUR120m in capital commitments to finance additional acquisitions". www.privateequitywire.co.uk. 2020-09-28. Retrieved 2020-11-10.
  8. ^ Dorbian, Iris (2020-10-19). "Aurelius to buy GKN Wheels & Structures". PE Hub. Retrieved 2020-11-10.
  9. ^ Bossi, Paolo (10 August 2020). "Aurelius Finance Company's Funding Package For M&Co – Global Legal Chronicle". Retrieved 2020-11-10.
  10. ^ Witkowsky, Chris (2020-07-24). "Aurelius Equity-backed Office Depot Europe agrees to sell Spanish contract business to Lyreco". PE Hub. Retrieved 2020-11-10.
  11. ^ Jowett, Paul; Jowett, Francoise (2011), "The Eighth Phase: The Booming Market: 2004–2007", Private Equity, London: Palgrave Macmillan UK, pp. 426–479, doi:10.1057/9780230308664_15, ISBN 978-1-349-35942-4, retrieved 2023-12-23
  12. ^ "AURELIUS sells Berlin-based Schleicher Electronic GmbH | Corporate - EQS News". www.eqs-news.com. Retrieved 2023-12-23.
  13. ^ Didymus, Mike (9 August 2019). "Aurelius carves out ceiling tile, grid business Armstrong from Knauf | AltAssets Private Equity News". Retrieved 2020-09-28.
  14. ^ "Aurelius completes Armstrong Ceiling Solutions acquisition". www.privateequitywire.co.uk. 2020-04-02. Retrieved 2020-09-28.
  15. ^ "BT Fleet Solutions sold to Aurelius". www.fleetnews.co.uk. Archived from the original on 2019-08-05. Retrieved 2020-09-28.
  16. ^ "Aurelius plans 'substantial' investment in Rivus Fleet Solutions". www.fleetnews.co.uk. Archived from the original on 2019-11-14. Retrieved 2020-09-28.
  17. ^ "Aurelius acquires VAG | Private Equity Wire". www.privateequitywire.co.uk. 2018-10-08. Retrieved 2020-09-28.
  18. ^ "Private equity firm Aurelius buys Connect Books | The Bookseller". www.thebookseller.com. Retrieved 2019-02-27.
  19. ^ "Bertram Books - Your leading global book wholesaler". www.bertrams.com. Archived from the original on 2005-10-01. Retrieved 2019-02-27.
  20. ^ "Office Depot Agrees to Sell European Business to Aurelius Group". Bloomberg News.
  21. ^ "Photography Chain Seeks Focus With Aurelius". Sky News. Retrieved 2019-02-27.
  22. ^ "Aurelius buys Scholl shoe business from Reckitt Benckiser". Reuters. 2014-07-21. Retrieved 2019-02-27.
  23. ^ Craft, Mark (8 April 2022). "Aurelius Completes Acquisition Of LloydsPharmacy And AAH - KamCity". Retrieved 2022-04-08.
  24. ^ "Brazil's Natura sells The Body Shop to Aurelius in $254 mln deal". Reuters. 2023-11-14. Retrieved 2023-11-14.
  25. ^ Boyadzhieva, Yanitsa (2023-11-20). "BT tunes into potential musicMagpie takeover amid EE revamp". TelecomTV. Retrieved 2023-11-20.
  26. ^ Colyer, Jack. "Aurelius sells Nordic cosmetics group to Accent for €60m - Private Equity News". www.penews.com. Retrieved 2020-09-28.
  27. ^ "Aurelius exits Scandinavian Cosmetics to Accent Equity | PitchBook". pitchbook.com. Retrieved 2020-09-28.
  28. ^ "AURELIUS sells Solidus Solutions for EUR330m | Private Equity Wire". www.privateequitywire.co.uk. 2019-07-01. Retrieved 2020-09-28.
  29. ^ "BRIEF-Aurelius sells Getronics Group". Reuters. 2017-07-06. Retrieved 2019-02-27.
  30. ^ "Getronics sold off in KPN shake-up". MicroscopeUK. Retrieved 2019-02-27.
  31. ^ CNBC (2017-04-24). "Nidec to Acquire Secop Group (Secop Holding GmbH and Other 3 Entities), a German Compressor Manufacturer". www.cnbc.com. Archived from the original on 2019-02-28. Retrieved 2019-02-27.
  32. ^ Weinfass, Ian (2024-04-05). "SSE buys Enerveo back from private equity firm". Construction News. Retrieved 2024-08-20.
  33. ^ "SSE has reacquired Enerveo from Aurelius Group". www.sse.com. Retrieved 2024-08-20.
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