C.W. Downer & Co. Assists Kleerex With Sale
Paris, April 7, 2011 - C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Kleerex Group has sold Kleerex Retail Services to New Store Europe, a retail services and design company owned by Herkules private equity. The transaction closed on March 9, 2011 and terms were not disclosed.
Kleerex Retail Services is a leading store fixtures and display solutions provider in the United Kingdom. New Store Europe is headquartered in Oslo and has offices strategically located in nine European countries. Through the acquisition of Kleerex Retail Services, New Store Europe will increase its European presence and will become one of a few companies with the capability to serve multinational retailers across Europe.
“We are pleased to join forces with Kleerex, which is an excellent business with a leading position in supplying store fixtures and displays as well as value added services to the leading retailers in the UK,” said Per Bjørgås, CEO of the new combined group, in a company release. “With the acquisition, our foothold in the most important retail market in Europe will be substantially strengthened. We believe that the combined talent and resources of both Kleerex and New Store Europe will provide our customers with new ideas and innovation, an improved global sourcing operation and a stronger ability to support our customers on an international basis,” he concluded.
Ashley Rountree, Managing Director & Partner with C.W. Downer & Co., remarked, “Kleerex operates in an industry we know very well, so we were able to identify potential buyers with 'surgical precision.' Ultimately we revealed the identity of the seller to only a few selected companies, and nearly all of them came back to us with attractive offers.”
C.W. Downer's transaction team included Mr. Rountree (Paris) and Philip Smith (Managing Director, Dublin). C.W. Downer served as co-advisor to Kleerex with NCB, an Irish boutique firm.
About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 35 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With seven fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.
For Further Information:
Patti Allan, Marketing Director