Apheon announces the continuation of its successful partnership with TMC and Haudecoeur (the “Portfolio Companies”), two high-performing assets held in Apheon MidCap Buyout IV SCSp (“AMB IV”). AMB IV will be selling its stake in both companies to a multi-asset continuation fund, Apheon TMC HDC Long Term Value Fund SCSp (“ATH LTVF” or the “Fund”), controlled by Apheon. The transaction will consist of minority investments next to the Fund by MML Capital in TMC and of LFPI in Haudecoeur. The management teams and founders of both companies will also reinvest meaningfully.
The Fund closed on €435 million of capital commitments to invest solely in TMC and Haudecoeur, and will provide an extended investment horizon and additional capital to continue building both platforms and support a new phase of growth. A portion of the new commitments will be available to the Fund to use as follow-on capital to support organic growth and strategic M&A initiatives at both companies.
The Fund attracted overwhelming interest and will be underwritten by HarbourVest Partners, a global private markets firm, as lead investor. It has been further supported by existing Apheon investors, who were provided the option to reinvest into the Fund and participate in future growth or generate liquidity.
The Portfolio Companies in the multi-asset Fund are:
Wolfgang de Limburg, Managing Partner of Apheon, commented: “We are excited to embark on this new chapter with TMC and Haudecoeur. This transaction enables us to continue supporting our star assets and their management teams in their respective growth strategies across the long-term, with the aim of building European champions, consistent with the Apheon platform blueprint. This transaction delivers significant liquidity to our investors and -as many of them elected to significantly reinvest into the Fund- also signals their strong confidence in our ability to create meaningful value during the next investment cycle”
Valérie Handal, Managing Director at HarbourVest Partners, adds: “We are delighted to partner with Apheon for this transaction. Providing thoughtful, customised solutions to strong General Partners that enable them to continue the value creation journey with some of their best performing and highest potential portfolio companies has been an integral part of HarbourVest’s continuation solutions strategy. We look forward to continuing to support the exciting growth prospects of TMC and Haudecoeur with Apheon.”
The transaction remains subject to regulatory approvals. Apheon was advised by Evercore, Kirkland & Ellis and Rothschild & Co.
About Apheon
Apheon is a pan-European mid-market private equity investment company managing ~€3 billion of assets from select global institutional investors and families. Apheon is characterized by its partnership approach, providing “patient and friendly capital” and industrial know-how to entrepreneurs and management teams, preparing their companies for the future. Through its pan-European footprint, the firm acts as a gateway into Europe for companies in the mid-market. Since its founding in 2005, Apheon has raised more than €3.8 billion in capital, invested in ~40 companies across Europe and completed ~200 add-on acquisitions for a total aggregate transaction value in excess of €7 billion. Apheon’s current portfolio consists of ~20 companies across its target sectors, representing ~€3 billion sales and ~22,000 employees. Apheon is advised by Apheon Advisors which has offices in Brussels, Milan, Madrid, Paris, Munich and Amsterdam. For more information, please visit www.apheon.com.
About HarbourVest Partners
HarbourVest is an independent, global private markets firm with over 42 years of experience and more than $132 billion of assets under management as of June 30, 2024. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,200 employees, including more than 245 investment professionals across Asia, Europe, and the Americas. Across our private markets platform, our team has committed more than $59 billion to newly-formed funds, completed over $58 billion in secondary purchases, and invested over $41 billion in direct operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.
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For more information, please contact:
John Mansvelt, COO, Apheon
T: +32 2 213 60 90
Natalia Yek, Head of Investor Relations, Apheon
T: +32 2 213 60 90
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