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Duke Street Capital acquires Accantia for £225m

European private equity firm Duke Street Capital has bought UK-based health and beauty company Accantia from ABN Amro for £225m. ABN Amro acquired the company in a management buy-out from Smith & Nephew in June 2000.

‘Duke Street Capital believes that with the commitment of our financial and operational support, Accantia, led by one of the most experienced management teams in the sector, will achieve significant growth and a good return on our investment,’ said Tim Lebus of Duke Street Capital.

Accantia is based in Birmingham and owns the Lil-lets tampon brand and skin care range Simple. The company achieved sales of £96m in the year to 31 December 2002.

‘Since our independence from Smith & Nephew, we have achieved significant growth in both areas of our business,’ said Geoff Percy, chief executive officer of Accantia. ‘Simple Facial Skincare has doubled its market value since the buy-out and through our innovation, Lil-Lets, our feminine hygiene brand, has brought the first major product development in 50 years to what has been a static market. We remain confident, with the backing of Duke Street Capital, that we will achieve further, strong growth going forward.’

Duke Street Capital invests in mid-market pan-European businesses with an enterprise value of up to E300m. The firm currently has over E2bn under management.

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