International equestrian fashion group Hypo Wholesale has successfully completed a buy-out, backed by Belgian PE House Vendis Capital. Livingstone’s Consumer sector team advised the shareholders of Hypo Wholesale on the transaction.
Headquartered in The Hague, The Netherlands, Hypo Wholesale is a leading wholesaler of branded equestrian fashion products and accessories, as well as equestrian gear and horsecare products under internationally respected brands including ‘HV POLO’ and ‘euro-star’. The company distributes its products via specialised equestrian retailers, internet and mail order companies, mainly across Europe.
Hypo Wholesale acquired the activities of Nederinum/Imperial Riding, one of the oldest Dutch equestrian wholesalers specialising in hardware in 2012. The group also made some first steps to diversify its offering with other fashion-led products, to bring a fresh equestrian look into fashion retailing channels.
Vendis Capital is a Belgian private equity fund with an exclusive focus on the Consumer sector in Europe. Headquartered in Belgium, Vendis is active in the Dutch and French markets.
“This is a new step in the development of Hypo Wholesale, for which I laid the foundations 28 years ago,” said Steef Duijndam, Founder and Managing Director of Hypo Wholesale. “Vendis Capital can not only support the growth of our company, but I have already seen the additional Consumer sector expertise they are bringing to the table. Vendis are giving me and my team the flexibility to continue to lead the company’s independent development from a shareholders position.”
Jan Willem de Lange, Managing Director of Hypo Wholesale, added: “After years of impressive growth, it was time to attract an additional partner who would help us to further professionalise our business procedures, help us integrate the group of companies and support the strong growth opportunities we see for Hypo Wholesale. Livingstone helped us not only to identify the right investor but also to present our very entrepreneurially-led company in such a way that a professional investor understands our story.”
“Due to its profound understanding of wholesale as well as retail businesses Vendis Capital has proven to be the right partner for Hypo Wholesale and its shareholders throughout the process,” said Christian Grandin, Partner at Livingstone Düsseldorf.
“We are very happy with our investment in Hypo Wholesale,” commented Michiel Deturck, Partner and Co-Founder of Vendis Capital. “It is one of the most dynamic players in quite a specific market. The team has a lot of industry experience and has succeeded to develop authentic own brands like ‘HV POLO’ as well as to re-new established more traditional brands like ‘euro-star’, ‘Imperial Riding’ or ‘Power & Paint’. This is illustrated by the company’s impressive recent growth. We look forward to work together with the team and to support the continued development of the group.”
The Hypo Wholesale transaction was the ninth successful transaction advised by Livingstone Partners’ Consumer sector team within the last 12 months. Joining transactions like City Screen – Cineworld, Marwyn Gaming – Merkur Casino or Gold’s Gym Spain – Paidesport Center.