The DOUGLAS Group, Europe’s number one omnichannel premium beauty destination, together with its shareholder Kirk Beauty International S.A., a holding company majority-owned by funds advised by global private equity firm CVC Capital Partners as well as the Kreke family, today is celebrating its first day of trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
In total, approx. 34.2 million shares have been placed with investors at a price of 26.00 per share, thereof approx. 32.7 million newly issued shares and approx. 1.5 million existing shares which will allow participants in management equity programs to cover tax obligations in connection with the IPO. The total offer size amounts to around 890 million euro with gross proceeds for DOUGLAS G of around 850 million euro, which corresponds to a market capitalization of around 2.8 billion euro. The proceeds from the IPO, together with an additional equity injection, available cash and proceeds from the new 1.6 billion euro loan agreement (including an undrawn revolving credit facility of 0.3 billion euro) will be used for a full refinancing of existing financial indebtedness, including the early redemption of Senior Secured Notes and Secured PIK Notes.
Hengeler Mueller acts as counsel to the issuer.
Hengeler Mueller team for Douglas AG
Capital Markets/Corporate: Dirk Busch, Reinhold Ernst (both partners, both lead, both Dusseldorf),
Corporate: Oliver Rieckers (partner), Anika Sonnenberg, Stella Gardemann (both associates, all Dusseldorf),
Capital Markets: Caspar Haarmann (counsel, Dusseldorf), Pascal Brandt (Frankfurt), Daniela Klar, Marian Aurin (both Dusseldorf, all associates),
Finance: Daniela Böning, Nikolaus Vieten (both partner), Tom Shingler (counsel), Henrik Gildehaus, Jennifer Klein (both associates, all Frankfurt),
Employment: Christian Hoefs (partner), Katharina Gebhardt (associate, both Frankfurt).