Stirling Square Capital Partners has completed the sale of Verescence, a leading French manufacturer of glass packaging for the perfumery and cosmetics industry, to Movendo Capital and asset manager Draycott.
The transaction marks a successful exit for Stirling Square’s Fourth Fund, which initially acquired Verescence in 2019. During its ownership, Stirling Square supported a strategic investment programme of over €100m aimed at increasing production capacity and automation across the company’s global footprint.
The deal, which values Verescence at approximately €490m including debt, according to sources familiar with the matter, underscores continued investor appetite for high-quality manufacturing assets serving the luxury and beauty sectors.
Founded in 1896, Verescence supplies bespoke glass bottles to a roster of blue-chip clients including Hermès, LVMH, and L’Oréal. The company employs 2,500 people and operates seven production facilities across France, Spain, North America, and South Korea.
Stirling Square, which manages more than €3bn in assets, focuses on investments in European mid-market businesses with enterprise values ranging from €100m to €500m.
