Rhône wraps up sixth fund at $2.4bn

Rhône has closed its sixth buyout fund at $2.4 billion. Rhône Partners Fund VI will focus on consumer, industrials and business services companies with a transatlantic presence, with a focus on entrepreneur or family-led businesses and corporate carve outs. With offices in its London, New York, and Madrid, Rhône was founded in 1996.

PRESS RELEASE

NEW YORK and LONDON – March 9, 2022 – Rhône, a global private equity firm, announced today it has held the final close of Rhône Partners Fund VI, its sixth buyout fund (“Fund VI”), with €2.1 billion ($2.4 billion) in total commitments, including approximately €240 million in committed co-investment capital.

Rhône welcomed a global and diverse group of new investors into Fund VI alongside many longstanding Rhône limited partners. Rhône expects to use these new commitments to continue investing in leading consumer, industrials, and business services companies with a transatlantic presence, with a focus on entrepreneur or family-led businesses and corporate carve outs. Rhône looks for opportunities to apply the firm’s value creation levers, including M&A, operational improvement and organic growth, and technological/digital innovation, to scale portfolio companies and position them for a successful sale or public listing.

Robert Agostinelli, Co-Founder and Managing Director of Rhône, said: “We are grateful to all our investor partners who are participating in Fund VI. We look forward to partnering with leading companies and strong management teams in Europe and North America to execute their vision and growth plans through this new fund.”

Fund VI is poised to build on Rhône Partners Fund V (“Fund V”), which is now fully invested. Fund V investments include market leading companies such as Vista Global (private aviation), Hudson’s Bay Company (parent company of digital and brick and mortar retailers Saks Fifth Avenue, Saks Off 5th, and Hudson’s Bay), Fogo de Chão (Brazilian steakhouse chain), Fluidra (pool and wellness), and illycaffè (premium coffee brand).
Steven Langman, Co-Founder and Managing Director of Rhône, stated: “We are pleased to announce this close, which will enable us to invest in high-quality sector leaders on both sides of the Atlantic across our core verticals. We are excited to build on the promising investments we hold in the Fund V portfolio and continue that momentum as we invest Fund VI.”

Rhône Partners Fund VI has completed its first investment, recently acquiring alongside management and affiliated co-investors, Paragon Films, a manufacturer of ultra high-performance cast stretch films used in storage and transit by customers in e-commerce, fast moving consumer goods, and other essential industries. Paragon Films is known for producing technologically advanced stretch films and its focus on sustainability at every step from design to formulation.

About Rhône
Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with a transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a history of successful corporate carve-out transactions and working with entrepreneur and family-led businesses, and operates across its London, New York, and Madrid offices. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer, and industrial sectors. For more information about Rhône, its investment professionals, and its current portfolio, please visit: www.rhonegroup.com.