Baring Asia Portfolio Company HCP Acquires SIMP
Today it was announced to customers that HCP – with the support of controlling shareholder Baring Private Equity Asia (“Baring Asia”) – has reached agreement whereby HCP will acquire a 100% stake in SIMP from Omnes Capital and other shareholders, subject to closing prerequisites. SIMP would continue to operate autonomously within the HCP family with its President, Mr Alain Blondel, remaining as President and reporting directly to Mr Eddy Wu, HCP’s Group President and Chief Executive Officer, and with Mr Eric de Bardonneche remaining as Sales and Development Manager.
HCP has partnered with SIMP over many years and we have come to admire their world-class innovation in the design, development, and manufacturing of applicators for mascara and other beauty products. SIMP will bring important new product capabilities to HCP’s wide range of packaging solutions for the leading beauty brands. In addition, SIMP will supplement HCP’s vast product development and manufacturing capabilities in China / North America with a presence in Europe. HCP’s management has stressed that notwithstanding this change of ownership for SIMP, it is business as usual with no disruption of service due to this change.
HCP was advised by Synercom France (Mr Richard Juhel), while SIMP was advised by AdvanceCapital.