Verescence bought by consortium

Verescence bought by consortium composed of Movendo Capital and Draycott

Stirling Square Capital Partners has sold Verescence to a consortium composed of Movendo Capital and Draycott. With 130 years of glassmaking know-how, the company is a privileged partner of the biggest brands in the beauty industry. It produces 600 million bottles per year in its four glass production sites and five finishing sites in Europe, North America and Asia, employing 2500 people worldwide.

“We are pleased to welcome new shareholders who support our strategy, investment plans and sustainability program, including our decarbonization roadmap. We are convinced that this project is positive for all our employees, our customers and our partners,” comments Thomas Riou, President of Verescence.

João Coelho Borges, Founding Partner of Draycott, and Pedro Pereira Gonçalves, CEO of Movendo, concluded: “We are delighted to acquire a global leader with a strong and experienced management team that is perfectly aligned with our value creation strategy. Verescence’s leading position in the industry aligns with our investment criteria in several key dimensions. By combining management’s expertise with our own, we aim for sustainable growth and value creation for all stakeholders.”

Movendo Capital is an investment company based in the Netherlands and operating in Europe and United States. Draycott is an emerging Portugal-based investment management firm, founded by a senior team with more than 20 years of experience in private investments.