Barclays Private Equity sells Schneider Group to Silverfleet Capital

Barclays Private Equity (“BPE”) sells Schneider Versand Holding GmbH (“Schneider Group”) to Silverfleet Capital. Supported by BPE, the Schneider Group achieved successful internationalisation over the last five years, reporting an annual turnover of around €241 million for 2009. The consideration is undisclosed.  

Together with the management and the Schneider family, BPE acquired Schneider Group, based in Wedel near Hamburg, in September 2005.  A clear strategy of internationalisation and positioning the various sales lines increased the Schneider Group's earnings before interest and tax (EBIT) for the first nine months of 2010 by 21% compared to the previous year.  EBIT of over €26 million is expected for the full year.

“We would like to thank the management team under Carsten Muuß and Risto Pfalz for their outstanding achievement. The impressive development of Schneider Group serves as a great example of profitable growth, successful further development and expansion of the market leadership of a medium-sized company, by means of sound equity investment and good management,” said Michael H. Bork, Managing Director at BPE Germany, commenting on the development of the Schneider Group.

“We saw the Barclays Private Equity team not just as investors, but, above all, as strategic partners. Together we have been able to map and duly reach significant milestones in the development of the Schneider Group, for which I am particularly grateful,” added Carsten Muuß, Schneider's Managing Director.

“The key feature of our commitment was our constructive, target-oriented and trusting collaboration with the whole of the management team and the Schneider family,” said Peter Hammermann, Managing Director and Co-Head Barclays Private Equity.

The successful sale of the Schneider Group is the second exit for BPE in Germany this year. In September 2010 GHD GesundHeits GmbH Deutschland was sold to IK Investment Partners. In addition, BPE acquired a majority stake in the Dutch company MPS Meat Processing Systems in August.

Schneider now has four sales lines – Schneider for promotional items and gifts, Impressionen for luxury lifestyle items, Conley´s for fashion labels, and Discovery for innovative consumer articles from all over the world.

As well as the catalogue business, the Schneider online shop, which concentrates on fashion and lifestyle products, is enjoying exponential growth.  Schneider employs a total of around 650 employees at its headquarters in Wedel, Germany, and in Austria, Switzerland, Holland and Sweden.

Since September 2005, 70% of Schneider Group has been owned by BPE, 20% by the Schneider family and 10% by the Schneider management team.

BPE Directors responsible for the transaction are Dr. Peter Hammermann, Michael H. Bork and Dr. Jan Wiechman.