Carlyle Group acquires ADA Cosmetics
Global alternative asset manager Carlyle Group has acquired ADA Cosmetics, an integrated supplier of hotel amenities and cosmetics, from Halder Private Equity.
From its production facility in Kehl, ADA covers all parts of the value chain from research & development, design, production, sales and marketing to logistics.
The company was originally founded in 1979 to sell customised soaps to German hotels.
Today it serves more than 15,000 hotels globally through a worldwide sales and distribution network in more than 50 countries.
Between 2007 and 2010 the company increased sales through expanding its offering across Europe, Asia and the Middle East.
In 2010, ADA generated revenues of €43 million up from €38.5 million in 2009.
The management will continue to retain a minority stake.
Headquartered in Kehl, Germany with approximately 270 employees, ADA has established itself as the largest supplier of cosmetics and accessories to premium hotels in Europe and expanded its offering across Asia and the Middle East.
Hotel customers include well-known luxury hotels such as Brenners Park Hotel (Baden Baden), Etihad Tower (Abu Dhabi), Badrutt’s Palace (St Moritz) and high-end chains including Relais & Chateau, Steigenberger and Mövenpick.
Commenting on the transaction, Wilhelm Könning, chief executive of ADA said: “Carlyle has recognized that ADA is a high-quality business with significant growth potential, and their investment represents an exciting and progressive step for the company.
“In partnership with Carlyle, we seek to leverage new opportunities in current and new markets, and to drive the continued growth and customer-focused innovation that the Company has consistently delivered.”