TSG Consumer Partners has signed an agreement to acquire a majority stake in Cadogan Tate Group Holdings, a specialist logistics group and a portfolio company of H2 Equity Partners.
Cadogan Tate is an international storage, moving and shipping group specializing in fine art and other valuable possessions. The company’s services include packing, moving, shipping, storage and insurance and it serves a variety of customers including wealthy individuals, interior designers, auction houses, art galleries and museums.
According to Cadogan Tate, it is one of a handful of global companies able to provide end-to-end specialist storage and logistics services for high-value items. The London, United Kingdom-based company operates out of its headquarters and has additional offices in Paris, New York, Los Angeles, Miami and Chicago.
H2 Equity acquired its majority stake in Cadogan Tate in June 2018 from majority shareholder Rohan Masson-Taylor. Now, in partnership with TSG, the senior management team of Cadogan Tate, including CEO Duncan Orange, will continue to lead the company as minority shareholders.
“Now is the perfect time to bring on a new growth partner and we couldn’t have found a better fit than TSG – a firm with an exceptional track record of growing consumer brands while supporting company values,” said Mr. Orange. “We are eager to leverage their digital capabilities and expertise in developing brands internationally as we continue to grow our customer engagement.”
“Cadogan Tate is a market-leading international brand and one of the only players in its industry able to provide end-to-end global specialist storage and logistics services for high-value items,” said Colin Welch, a managing director of TSG. “We look forward to supporting Duncan and the management team in achieving its growth plans to expand into new geographies and deepen its presence in existing markets, through both organic growth and strategic acquisitions, all while maintaining its high standard of handling every item with care.”
San Francisco-based TSG invests from $200 million to $800 million of equity in high-growth, branded consumer companies. Sectors of specific interest include beauty, fitness and outdoor, food and beverage, personal care, household, lifestyle, pet, restaurant, and retail. In February 2019, the firm closed its eighth fund with an oversubscribed $4 billion of limited partner capital commitments.
H2 Equity makes both minority and control investments in companies that have revenues from €25 million to €550 million. The London-headquartered firm has closed more than 120 platform investments since its founding in 1991.
TSG’s buy of Cadogan Tate is expected to close by the end of May.
© 2022 Private Equity Professional | April 22, 2022
