TPG-led consortium to acquire 30% stake in jewellery brand APM Monaco

Photo: Andy Holmes/Unsplash

A consortium led by global alternative asset firm TPG has agreed to acquire 30 per cent of APM Monaco, a European jewellery brand with a significant presence in Asia.

In a statement, TPG said it is investing in APM Monaco through TPG Capital Asia, its Asia-focused private equity platform, in partnership with China Synergy and Paris-based PE firm Trail. Financial details of the transaction were not disclosed.

According to Reuters, a deal could value the jeweller at around $800 million.

Founded in 1982 by Ariane Prette, the design-focused silver jewellery business currently has 200 stores globally, most of them in Europe and China. It also has stores in Tokyo, Singapore, and the US.

The company started as an original design manufacturer (ODM) for top European distributors. It relocated productions to China in 1992 and launched its own jewellery brand, APM Monaco, 20 years later.

“The founders and management team of APM have successfully built a fashionable brand that resonates well with consumers and has a loyal following. We are impressed by the Company’s creativity, vision for the luxury industry, and values,” said TPG China managing partner Chang Sun.

This year marks TPG’s 25th year investing in Asia. Its Asia team, comprised of approximately 50 investment professionals, pursues investments in a broad range of industries, with a significant focus on consumer, financial services, healthcare, and TMT/new economy.

In February, TPG reached the final close of its seventh Asia-focused private equity fund, TPG Capital Asia VII, at $4.6 billion. The firm claims that the commitments received exceeded its target. TPG Asia VII had secured its first commitment – $100 million from the New Mexico State Investment Council (SIC) – in January 2017.

China Synergy, which forms part of the consortium, is an investment platform jointly set-up by TPG and CICC Capital. The platform targets investment opportunities both in China and overseas.

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