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Bayside Capital portfolio company DIAM acquires GDP

Bayside Capital’s portfolio company, DIAM International (DIAM), the leading global designer and manufacturer of high quality point-of-purchase (POP) displays for cosmetics, has acquired GDP and GDP Tunisia Tech.

Based in France and Tunisia, respectively, GDP and GDP Tech Tunisia are subsidiaries of Xeris SA and are specialists in the design and manufacture of POP displays and testers for cosmetics and perfumes. GDP employs more than 350 people in manufacturing and distributing its products to a diverse customer base that includes leading international cosmetics brands and specialty retail chains. The integration of GDP will allow DIAM to expand its global leadership position through the addition of GDP’s strong customer relationships and its high quality, low cost manufacturing operations in Tunisia. The acquisition expands DIAM’s presence to thirteen countries on four continents.

Benjamin Bullmer, GDP’s CEO who will continue on with DIAM, says: "The economic environment and globalization have highlighted that GDP would be greatly strengthened by a merger with the leading player in the industry."

Michel Vaissaire, CEO of DIAM, adds: "We are very pleased with Bayside’s support of the business and will continue to benefit from their commitment to growth. The acquisition uniquely positions DIAM within our industry by further enhancing the full range of solutions we provide our customers around the world."

Adam Schimel, a Principal at Bayside, says: "This investment strengthens DIAM’s global product offering and highlights Bayside’s ongoing commitment to DIAM’s strategic initiatives. DIAM has emerged from the market weakness of the past few years as the clear industry leader and we look forward to supporting the Company’s outstanding management team in the next phase of its growth.”

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