Private equity skills and know-how have transformed Saverglass into a world leader in the design and manufacture of glass bottles and decanters for fine wines and spirits. Thanks to investment from Omnes and NiXEN Partners, Saverglass built new facilities in Arques, more than doubling production to 300,000 tonnes over a five-year period. A refocusing of the business helped Saverglass secure drinks-maker clients in the champagne and brandy markets: it now has a 50% market share of the premium and super-premium segment.
In 2011, when fellow private equity firm Astorg took over with fresh finances and plans to cement Saverglass’s position in the top-end glass market, revenues had increased by over a quarter and jobs by over 40%. The company continued its growth story with Astorg, before being sold to the Carlyle Group in 2016.
I am delighted with our five years of partnership with NiXEN and Omnes Capital and their support during this key stage of Saverglass's development.
Loïc Quentin de Gromard Chairman, Saverglass
What did the business need?
- Capital for a new furnace to increase production
- Support to expand internationally, particularly into emerging wine and spirits markets
- Focus on product innovation
How did private equity backing create lasting value?
- Invested c.€80m in the company’s fifth furnace in Arques
- Improved product mix and market penetration
- Focused on high-margin, fast-growing premium glass segment
- Increased focus on strong growth Asian markets
- Strengthened customer base in emerging wine-growing regions and with global super-premium spirit brands
What outcomes did private equity investment achieve?
- Took employee numbers to 2,200 in 2011 from 1,600 in 2006
- Increased production capacity by 130% to 300,000 tonnes annually
- Increased turnover to €280m in 2010 from €220m in 2006
- Grew sales at an average of 6.5% a year