Luxembourg-based investment fund L-GAM to take a majority stake in leading wine closure manufacturer Vinventions, alongside founding family’s vehicle Noël Group
Patrick Mathieu to be appointed as next chairman with Denis Van Roey confirmed in his role as Group CEO
Transaction to be finalised in the coming month
Luxembourg, March 16th 2021
Noël Group and Bespoke Capital Partners announce today they entered exclusive negotiations for the sale of a majority stake in Vinventions, a world leader in wine closure solutions, to the Luxembourg-based investment company L-GAM.
As part of the transaction, L-GAM will take over Bespoke Capital Partners stake and commit significant resources alongside Noël Group to fuel the company’s growth and finance new opportunities.
The official signing of the final documentation is expected after information of the employees’ representatives and consent of the company’s lenders.
With every 7th bottle of wine sold in the world closed using a Vinventions solution, the company has established itself as a leading provider of closures for the wine industry since its inception by Marc Noël in 1999. Its brand portfolio includes high-performance and environmentally friendly synthetic closures (Nomacorc, Syntek), screwcaps (Vintop, Alplast), micro-natural corks (SÜBR) and natural corks (Ohlinger).
L-GAM partnership with Noël Group will support CEO Denis Van Roey and his management team in the implementation of an ambitious organic and external growth roadmap to establish Vinventions as the leading supplier of products and services for the wine industry.
Marc Noël also announces on this occasion he will be transferring his responsibilities as Chairman of Vinventions to Patrick Mathieu. Patrick Mathieu is the current President and CEO of Armacell and will bring to the board over 30 years of experience from leading global industrial organizations.
Marc Noël, Founder and Chairman of Vinventions and Chairman of Noël Group, declared: “I would like to thank Denis Van Roey and the whole Vinventions team for their outstanding work over the years. This transaction is clear testament to the significant operational and strategic successes they have achieved. I am also delighted to hand over the chairmanship to Patrick Mathieu and welcome him in the Group – his experience will be a strong value-add for the board. This new chapter for Vinventions is particularly exciting and we look forward to our partnership with L-GAM to accelerate the development of the Group.”
Mark Harms, Partner at Bespoke Capital Partners declared: “We are pleased to have reached agreement to sell our stake in Vinventions to L-GAM and Noël Group. Marc Noël and his team have been excellent partners for the past 6 years and we appreciate the relationships that we have built. We thank management, Denis Van Roey in particular, for working hard to transform the business during the tenure of our ownership and manage through a combination of industry and pandemic related headwinds, particularly affecting the sub $10 wine category. During our investment period, Vinventions has cemented its position as the market leader in the provision of environmentally friendly natural cork alternative wine closures, expanded its product portfolio to include screwcaps, increased its presence in the premium segment of the wine market that is enjoying strong growth and began the supply chain consolidation thesis that we invested behind. We wish Marc and his partners and L-GAM the best of luck in continuing the company’s growth.”
Denis Van Roey, CEO of Vinventions, said: “This transaction offers a unique opportunity for our team to partner with L-GAM and Patrick Mathieu, highly experienced professionals who will support, together with our historic and faithful partners, an ambitious growth strategy, built around our culture of innovation, sustainability and performance, while staying true to our company values.”
Yves Alexandre and Jérôme Bertrand, Partners at L-GAM concluded “We are delighted to support Vinventions in this new development phase. We are very impressed by the trajectory of the Group which, in less than 20 years, has established itself as a global leader in wine closures. The resilience of the group during the Covid crisis is further evidence of its strength and the quality of its management team led by Denis Van Roey. We believe Vinventions’ industry-leading product range and track record for disruptive, environmentally friendly innovations provide strong foundations for growth in the years ahead. L-GAM shares the corporate values of Noël Group and we look forward to partnering with them to support Vinventions ambitions and seize external growth opportunities.”
Vinventions (www.vinventions.com) is a comprehensive provider of wine closure solutions designed to support the diverse requirements of still and sparkling wine producers. Vinventions provides closure solutions that maximize performance, design and sustainability. Brands include Nomacorc PlantCorcs™, Vintop Screwcaps, SÜBR and Wine Quality Solutions which includes enological devices, equipment and services that improve the quality and consistency of wine through real-time quality control.
About Noël Group
Noël Group (www.noelgroup.com) enables strength, innovation, and continuity to pioneering industrial companies that specialize in the transformation of engineered synthetic materials. We are a long-term operating investor with a vision for building businesses that achieve market leadership in their respective fields. Our portfolio companies serve a wide array of markets ranging from wine closures to construction. Noël Group’s vision, management attitude, entrepreneurial culture, ingenuity, and operational expertise enable our companies to thrive in and lead their respective industries. We provide the resources and expertise to pursue promising new initiatives and create the means to cultivate and capitalize on inter-company synergies.
About Bespoke Capital Partners
Bespoke is a unique private equity firm that tailors its investments to meet the needs and requirements of its counterparties. Typically taking minority stakes, Bespoke invests between $25-250 million (or more with partners) into high quality businesses with industry leading market positions, strong management and industry tailwinds, typically in partnership with either entrepreneurs or private capital providers. Bespoke adds value to its portfolio companies via a combination of operating expertise provided by its c 75 Operating Partners, and the 60+ years of investment experience of its principals, Robert L. Berner III and Mark W.B. Harms. Bespoke’s US$360 million SPAC, Bespoke Capital Acquisition Corp., recently announced that it is merging with Vintage Wine Estates, one of the market leaders in the premium and luxury segments of the United States winery industry, in a transaction with an enterprise value of $690 million.
L-GAM (www.l-gam.com) is a long-term oriented investment company with capital commitments in excess of € 1 billion. L-GAM was established in 2013 with the backing of the Liechtenstein Princely Family and several families from Europe, Asia and the USA. Its unique and differentiated business model is based on a long-term, industrial-like investment focus and a flexible mandate to provide investment solutions throughout the capital structure. L-GAM focuses on partnering with small and medium sized companies across Europe. L-GAM has already invested in Jardiland (France), Faist ChemTec (Germany), Roberto Cavalli (Italy), Grupo BC (Spain), Cyber Group Studios (France), Woolrich (Italy and US), Amplitude Laser Group (France) and Centro Medico Santagostino (Italy).
Caroline Thomas, Vinventions