The Service of the Commission for the Protection of Competition has received a notification of a concentration concerning the proposed acquisition of the share capital of Oceania (TopCo) Pty Ltd by Advent International L.P., via Al Grace AUS BidCo Pty Ltd.
Al Grace AUS BidCo Pty Ltd is a company duly registered under the laws of Australia. Al Grace is a special purpose vehicle, with no prior business activities, established to act as an acquisition vehicle for the purposes of this transaction. Al Grace is controlled indirectly by Advent International L.P.
Advent International L.P. is a company duly registered under the laws of Delaware, United States of America. Advent is active in private equity investments and fund management. Advent focuses on: (i) the acquisition of equity stakes (both controlled and non-controlled) in companies in which it believes that a capital injection would improve its future growth prospects; and (ii) the management of investment funds. Advent has holdings in five key sectors, namely: (i) business and financial services, (ii) healthcare, (iii) manufacturing, (iv) retail, consumer and leisure, and (v) technology.
Oceania (TopCo) Pty Ltd is a company duly registered under the laws of Australia. This company owns Zimmermann, a fashion business run by the group of companies under Oceania (TopCo) Pty Ltd. Specifically, Zimmermann is a boutique manufacturer of clothing, footwear and accessories.