Apax opens the way for Mittelstand deals

Apax Partners, the London-based buy-out firm, has acquired a 49% stake in an unlisted German cosmetics firm. An adviser on the deal said it could open the way for up to 20 similar acquisitions of such mid-market businesses next year.

The acquisition of LR-International Cosmetic & Marketing is a rare example of a buy-out house taking a stake in a family-owned middle-market company, known collectively as the Mittelstand.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached