Movendo Capital and Draycott to acquire VERESCENCE from Stirling Square Capital.

Movendo Capital, a Netherlands-based investment firm specializing in venture and growth capital, and Draycott, a diversified asset manager, agreed to acquire VERESCENCE, a France-based manufacturer specializing in glass packaging for the beauty and perfume industries, from Stirling Square Capital, a private equity firm. Financial terms were not disclosed. "We are grateful to the team at Stirling Square Capital Partners for their support in helping us develop the business and accelerate the Company’s growth. We are looking forward the next phase of development with our new shareholders who are supportive of our strategy, investment plans and sustainability agenda, including our decarbonization roadmap. We are convinced that this transaction will greatly benefit our employees in France and across the globe, as well as our customers and partners," Thomas Riou, VERESCENCE CEO.