Polyconcept enters into definitive agreement to be acquired by Charlesbank Capital Partners

The acquisition of Polyconcept, the parent company of PF Concept, by Charlesbank Capital Partners, marks the end of an 11-year partnership with Investcorp.

The 2005 acquisition, which consisted of PF Concept in Europe and Leed’s in the US, saw the formation of Polyconcept.

Gene Colleran, chief executive officer for Polyconcept, said: “We have had a successful chapter with Investcorp and are thankful for the partnership over the years.

“We are excited to forge new partnerships with Charlesbank, which has a long history of joining forces with management teams to grow their businesses. With Charlesbank’s financial support, strategic guidance and significant network of contacts, we look forward to working together to create substantial value for the future.”

Ralf Oster, chief executive officer, PF Concept Europe, added: “Charlesbank is an ideal partner for Polyconcept and I am excited about the opportunities we will have with Charlesbank to grow our business and launch new initiatives to support our long term strategy.

“We expect the transition to be seamless for both our customers and our employees.”

There will be no management changes as a result of the acquisition and it will be business as usual for customers.

Josh Klevens, managing director at Charlesbank, said that his firm was attracted to the company’s competitive position and its diversification across customers, suppliers, price points and geographies.

He added: “Polyconcept is a market leader in both the United States and Europe, with superior customer service and global capabilities.

“We are very pleased to have the opportunity to partner with the management team to expand the business globally, building on their track record of success and tapping into new opportunities for growth.”