Stirling Square Sells French Perfume Bottle Maker Verescence

Stirling Square Capital Partners has sold Verescence, a French glass packaging maker for the perfumery and cosmetics industry, to Movendo Capital and asset manager Draycott.

The European private equity firm completed the sale of Verescence, which it acquired in 2019 as the first investment of its fourth fund, according to a statement reviewed by Bloomberg News on Monday. Under Stirling Square’s ownership, the French glassmaker invested €100 million ($113 million) to expand capacity and automation.

The deal values Verescence at about €490 million including debt, according to people familiar with the matter, who asked not to be identified as ...