Compass Partners has grown their portfolio by completing the acquisition of three assets from funds that were previously managed by pan-European private equity investor, Bridgepoint.
The three acquisitions in question were Rodenstock, a German maker of ophthalmic lenses and frames; Infinitas Learning, a Dutch educational content and services business; and UK-based Protocol, which is a recruitment agency focused on skills, education and training.
Private equity firm, Compass, had previously acquired majority stakes in both Rodenstock and Infinitas, so this transaction saw the consolidation of Bridgepoint’s stake in both of these and the acquisition of a 100 percent of Protocol.
Commenting on the transaction, Alister Wormsley, Partner at Compass Partners stated: “Since our initial investment, we have made solid progress at both Infinitas and Rodenstock and are delighted to have had the opportunity to acquire the minority interests.
“Our strong operational and strategic focus has underpinned improved performance and the prospects and outlook for both businesses are good. Protocol represents a good addition to our portfolio and is well positioned for growth.”
They raised €100m from funds that were managed by Glendower Capital for these investments.
Chi Cheung, Partner at Glendower Capital commented on the acquisitions, by stating: “We have known the Compass team for a considerable time and are delighted to support them in a portfolio acquisition where they have delivered substantial progress in two of the key assets.”
This deal represents a substantial increase in Compass’ portfolio, as their total assets under management now exceeds €500m.