Platinum Equity takes over SOLO

The management of the French company SOLO (Invest SAS), one of the leading providers of customisable products in Europe, has reached an agreement on the acquisition of 100 per cent of its shares by Platinum Equity. According to a company statement, the deal is expected to be finalised shortly after the summer.

Founded in 1991 by Alain Milgrom and headquartered in Paris, SOLO has established itself as the number 2 in the European market for customisable products in recent years (after the listed company New Wave; red). The key to this was the acquisition of Dutch full-service provider midocean in 2022, which created the first true one-stop-shop solution for hardware and textiles in the global customisable products market. This acquisition has led to accelerated sales growth, affirmed the emerging consolidation in the still highly fragmented European market and attracted the attention of private equity. The acquisition of Platinum Equity as a financial sponsor has secured funding for the company’s ambitious growth plan.

Audélia Krief, CEO of the Group and architect of the collaboration between Solo and midocean, explains: “Solo wants to shape the future of personalisation – a future that is not only powerful but also ecologically sustainable, overcoming the challenges of today and anticipating the needs of tomorrow. This requires a continuous investment in innovation, service and automation, which is now made possible by the financial sponsorship of Platinum Equity.”

Stephen Gibson, Chief Executive Officer of Solo and former Managing Director of Midocean, adds: “The market for customisable products is evolving rapidly as businesses and small and mid-sized companies look for inspiration and efficiency, and therefore better value for their money. We believe that Platinum Equity is perfectly placed to financially support the company’s approach to meet this need through continuous process innovation and automation.”

Louis Samson, Co-President of Platinum Equity: “Solo’s strong foundation and entrepreneurial heritage make it an excellent fit for our practical approach to value creation. We have great confidence in the management team and the foundations of the company. We believe our M&A resources and operational capabilities can help the company accelerate its growth and drive new innovative solutions for an increasingly complex personalised products market.”

“Solo’s integrated model, which combines distribution scale and on-demand printing, offers Solo and its B2B customers compelling advantages in terms of cost, product breadth, inventory availability and speed,” comments Malik Vorderwuelbecke, Managing Director at Platinum Equity. “In a highly fragmented market, these strengths position the company as an attractive platform for organic growth and strategic acquisitions. We will strive to expand geographically and into new product categories.”

About SOLO

Solo is a major player in the blank and personalisable products market, offering creative, functional and sustainable solutions. With the merger of the SOLO Group and midocean in 2022 and the combination of 33 and 60 years of experience respectively, the company offers a comprehensive product range for textiles, hard goods and personalised merchandise and helps brands to stand out in a highly competitive environment. With its expertise and responsible approach, Solo builds fair partnerships across the value chain and provides solutions that address environmental challenges and meet customer expectations. With more than 1,600 employees in Europe and Asia and a network in over 60 countries, Solo supports its customers both globally and locally.
More on the company at: www.wearesolo.com • www.sologroup-paris.com • www.midocean.com