Tesi to invest in fast-growing KotiSun Group

Tesi

Investments in companies2017-12-27

Tesi, The CapMan Buyout X fund and Varma Mutual Pension Insurance Company have entered into an agreement to invest in KotiSun Group. The seller in the transaction is Panostaja Plc. As a result of the transaction, CapMan, Tesi and Varma will become the majority owner of KotiSun Group Oy. The management of KotiSun Group will own 30% of the company.

Founded in 2006, KotiSun Group is a nationwide company specialising in high-quality renovations of service water, heating and drainage systems. The company is the market leader in Finland with a turnover of MEUR 42.5, which has been growing at an average annual rate of 30% during the last five years. The company employs about 400 people throughout Finland and has this year successfully begun its expansion into Sweden.

“KotiSun Group is a strong company that has done groundbreaking work in its own field. The company is known for its customer-oriented approach and principles of continuous development. We are very excited about this investment, which will offer us the opportunity to grow a market leader in Finland and expand a working concept internationally. The growth driven and committed management of KotiSun has done an excellent work in developing the company and we look forward to our co-operation,” says Antti Karppinen, Investment Director at CapMan Buyout.

“Over the past years, we have developed and grown in various areas and I feel that now is the right moment to take the next step on our journey to achieve our ambitious goals related to the growth and internationalisation of the company. We wanted CapMan to be our partner because of its professional team and wide-ranging experience. In addition, CapMan operates in Finland and Sweden, which are important markets for us. Together, we can turn the company into a specialist in home renovation projects that is able to serve its customers even better than before,” says Kalle Lahtinen, CEO of KotiSun Group.

For further information, please contact:

Kalle Lahtinen, CEO, KotiSun Group Oy, tel. +358 40 4177 962
Antti Karppinen, Investment Director, CapMan Buyout, tel. +46 731 456 462
Samuel Saloheimo, Investment Manager, Tesi, tel. +358 50 438 3311

CapMan is a leading Nordic investment and specialised asset management company. As one of the Nordic private equity pioneers, we have actively developed hundreds of companies and real estate and thereby created substantial value over the past 28 years. Today, CapMan employs 110 private equity professionals and manages €2.7 billion in assets. We mainly manage the assets of our customers, the investors, but also make direct investments from our own balance sheet in areas without an active fund. http://www.capman.com | @capmanPE

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi/en | @TesiFII

Varma Mutual Pension Insurance Company is a responsible and solvent investor. The company is responsible for the statutory earnings-related pension cover of some 878,000 people in the private sector. Premiums written totalled EUR 4.7 billion in 2016 and pension payments stood at EUR 5.3 billion. Varma’s investment portfolio amounted to EUR 45.4 billion at the end of September 2017. www.varma.fi/en | @varma_tweet

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Ardian to Acquire Significant Minority Stakes in Industrial Engineering Group Fives

Ardian

Canadian Institutional Investors CDPQ and PSP Investments Sign an Agreement with Management and Ardian to Acquire Significant Minority Stakes in Industrial Engineering Group Fives

Montréal, December 22, 2017

– La Caisse de dépôt et placement du Québec (“CPDQ”) and the Public Sector Pension Investment Board (PSP Investments), two of Canada’s largest pension investment managers, today announced a joint investment in Fives, a global industrial engineering group headquartered in France, which designs and supplies engineered machines, process equipment and production lines for the world’s largest industrial players. CDPQ and PSP Investments will each acquire a significant minority stake in Fives, which will remain controlled by its management, to support the next development phase. Ardian, a world-leading investment house, will continue to be part of the new shareholding structure, as a minority co-investor.

Founded in 1812, Fives has participated in the modernization of various global industries, including steel, aluminium, cement, energy, and more recently, the automotive and aerospace industries, as well as logistics. The group’s rich history is grounded in constant innovation, development of proprietary technologies, international expansion and a pioneering spirit. This enables Fives to have a comprehensive global vision of the various industries in which it operates, as well as strong expertise in the design of critical equipment and solutions for industrial processes.

Today, Fives is at the forefront of innovation, taking a leading role in the “Industry of the Future” with a unique focus and expertise in digitalisation, automation and robotics to optimize industrial processes. With a network spanning four continents, the group possesses a balanced global footprint. For the year ending December 2017, the group is expected to generate over EUR1.8 billion (CAD$2.7 billion) in sales, across North America (30%), Europe (30%), Asia (22%) and the Middle-East and Africa (18%).

This transaction offers CDPQ and PSP Investments the opportunity to become important partners, contributing to the continued development of Fives’ solutions, designed to improve the overall performance of industrial plants, including the optimisation of the energy and resource efficiency and environmental footprint. The partnership with CDPQ and PSP Investments will provide Fives with the necessary resources to finance its mid- and long-term expansion plans through major growth avenues, particularly in markets like Intralogistics, as well as leverage its recently developed breakthrough technologies.

Frédéric Sanchez, Chief Executive Officer of Fives Group, said: “In the past years, with the full support of Ardian, we have invested heavily in R&D and business development, both in terms of  portfolio products and geographical reach – reinforcing our leadership in our core markets and expanding our offer in adjacent booming segments such as FAW (Fully Automated Warehouse), as well as establishing AddUp, a promising platform with Michelin in metal 3D printing (additive manufacturing). Today, we are very enthusiastic to enter a new phase of our development with CDPQ and PSP Investments. Their long-term approach to investment, their deep valuable industrial insights and their strategic vision aligned with that of the management team make them ideal partners for the group, allowing Fives to take advantage, at a global scale, of the full potential of our diversified operations.”

“For over 200 years, Fives’ technology has changed the way the industrial world operates”, said Stephane Etroy, Executive Vice-President and Head of Private Equity at CDPQ. “We are impressed by the company’s ability to continuously adapt, innovate and expand worldwide within the context of rapidly changing technological landscapes. Alongside Frederic Sanchez, his management team, and our partner PSP Investments, we look forward to contributing to the industrial advancement and improved resource efficiency through Fives.”

“We are excited to team up with Fives’ talented management team, led by Frédéric Sanchez, a true visionary in this sector, alongside our partners at CDPQ and Ardian,” said Simon Marc, Managing Director and Head of Private Equity at PSP Investments. “The transaction is a great example of partnership with successful entrepreneurs and like-minded, long-term investors. Fives has been at the forefront of innovation since its inception and we are looking forward to supporting its growth in the next industrial revolution.”

“Fives is an excellent company with a rich, unparalleled heritage,” added Dominique Gaillard, CEO of Ardian France and head of Ardian Direct Funds. “As a business, it continues to go from strength to strength and its focus on industry-leading innovation, combined with its pioneering spirit, positions it well for the years to come. We have achieved great things with Fives since we first invested. CDPQ and PSP Investments are ideal partners and, alongside Ardian, will contribute significantly to its continued development.” The completion of the transaction remains subject to approval by relevant regulatory authorities.

ABOUT FIVES

As an industrial engineering Group, Fives designs and supplies machines, process equipment and production lines for the world’s largest industrials including the logistics, aluminum, steel ,automotive, aerospace, cement and energy sectors. Located in over 30 countries and with nearly 8,600 employees, Fives is known for its technological expertise and competence in executing international projects. Fives’ multi-sector expertise gives it a global vision of the industry which provides a continuous source of innovation. The effectiveness of its R&D programs enables Fives to design forward-thinking industrial solutions that anticipate clients’ needs in terms of profitability, performance, safety and compliance with environmental standards. This strategy is backed by a human resources policy that is focused on the individual, encourages initiative-taking, technical excellence and team spirit. For more information, visit fivesgroup.com or follow us on Twitter@fivesgroup or consult our LinkedIn pages.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans.

As at June 30, 2017, it held C$286.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT PSP INVESTMENTS

The Public Sector Pension Investment Board (“PSP Investments”) is one of Canada’s largest pension investment managers with C$139.2 billion of net assets under management as at September 30, 2017. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of Canada’s federal Public Service, the Canadian Armed Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, Canada, PSP Investments has its principal business office in Montréal and offices in New York and London, its European hub. For more information,

visit www.investpsp.com, Twitter @InvestPSP or LinkedIn.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 490 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 610 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

 

 

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Ardian Real Estate to acquire “Heinemann Bogen“ office complex in Munich-Neuperlach

Ardian

With its fourth investment, Ardian Real Estate is actively pursuing its investment strategy to focus on core plus and value-added commercial property in key European cities

Frankfurt/Munich, December 20, 2017 – Ardian, a world-leading private investment house, has signed an agreement to acquire the “Heinemann Bogen” office complex in Munich’s Neuperlach district from a fund managed by Corpus SIREO Real Estate Sireo, which is owned by Swiss Life Asset Managers. The parties agreed not to disclose the financial details of the transaction. The complex is easily accessible and has around 16,000 square meters of rented space and 228 parking spaces. This is the second transaction by the Ardian Real Estate Europe Fund (AREEF) in Germany and the fourth in Europe. Last year, Ardian Real Estate (founded in 2015 and Ardian’s newest investment activity) had already acquired the KONRAD office complex in Munich Riem.

The “Heinemann Bogen” office complex was built in 1990 and was last renovated in 2013. The prominent complex consists of a main building that is connected to four office wings with five to six stories each. The natural stone façade, two tower-like semicircular structures above the entrances and a freestanding rental unit with a striking round glass front used as a restaurant space make it highly recognisable. The rental space offers tenants flexible and efficient floorplans for all office concepts in units per floor of approx. 460 square meters to 2,400 square meters. The office building is in a prestigious corner location at Schindlerplatz square, which is clearly visible from the directly adjacent “Neuperlach-Süd” station. Travel time to downtown Munich via the nearby S-Bahn (train) and U-Bahn (subway) connection takes about 20 minutes, and the A8 is just a few minutes away by car.

Neuperlach is a well-established office and services district in Munich. As a location, its character is shaped primarily by well-known companies in the high-tech and insurance industries with national and international operations, such as Siemens AG, BSH Bosch und Siemens Haushaltsgeräte, Allianz and Wacker Chemie. Many development projects – including residential, office and commercial properties – are now contributing further to the positive development of the Neuperlach location and continue to reflect its strong dynamic. The neighboring shopping center PEP in the center of Neuperlach will increase its space to a total of around 55,000 square meters with 135 stores by spring 2018. Once completed, the new district center with stores, apartments, a hotel and a daycare center will become an architectural highlight.

Bernd Haggenmüller, Managing Director Real Estate at Ardian: “Munich is an attractive business location with a high quality of life, and the demand for commercial real estate is correspondingly high in this region. Therefore, we are pleased to gain a foothold in this attractive market with a second property already. As a core plus property, about 75% of the space in Heinemann Bogen has been leased to date, and additional floorspace is available in the short term for new or successor tenants. In view of the superb infrastructure to live and work in as well as the high demand for space, we see significant potential for the property’s rental and value growth in coming years that we will support with our asset management expertise.”

Further information about Heinemann Bogen is available at the following website:

The transaction was advised by BNP Paribas Real Estate, Herbert Smith Freehills, Beiten Burkhardt and REC Partners.

 

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 490 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 610 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

PRESS CONTACTS

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Almi Invest invests in gedea Biotech

Almi Invest

Almi Invest invests two million in gedea Biotech, which is developing a new treatment for vaginal infections. In the issue of a total of 11 million is also participating private investors. The money will go to clinically validate the treatment method.

In 2018, the company, which is based in Lund, Sweden, to carry out a clinical study for the treatment and prevention of vaginal yeast infection.

Many women suffer from repeated vaginal infections without being cured. Gedea Biotech active substance acts in a new way by the fungus usually located behind loses its infectivity while other fungi and bacteria is inhibited by the substance pH-lowering properties.

The substance is naturally occurring and is also approved as a food additive and its effect gives great hopes for an effective and safe treatment that does not contribute to the emergence of antibiotic resistance.

– gedea has an interesting solution with high medical value that are able to quickly and cost-effectively get to the proof-of-concept and market, says Per Antonsson, Investment Manager at Almi Invest.

Among the investors in the issue is the investment company Porte-Monnaie, which primarily invests in unlisted companies. The company was founded in 2013 by Joakim Falk, Pouyan Kasraian and Staffan Gestrelius.

– It is gratifying that we have now established cooperation with knowledgeable and committed investors. They have great skills in general construction, sales and marketing of this type of products, says Annette Säfholm, president of gedea Biotech.

 

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DIF acquires Australian Student Accomodation concession

DIF

Sydney, 21 December 2017 – DIF is pleased to announce that DIF Infrastructure V has acquired a 30 year Purpose Built Student Accommodation (“PBSA”) concession with the University of Tasmania in Australia.

The University of Tasmania is the only university in the Australian state of Tasmania. Under a 30 year concession, DIF as a sole equity sponsor, will operate and maintain a portfolio of approximately 1,800 existing beds across 10 PBSA facilities.

In addition, DIF has a right of first offer for any new PBSA builds, representing a positive long term relationship and pipeline with the University.

Tetris Capital were financial advisers to DIF in relation to this transaction and Corrs Chambers Westgarth acted as legal adviser.

Marko Kremer, DIF’s Head of Australasia added: “DIF is proud to have entered into this partnership with the University of Tasmania to support their academic and educational pursuits.”

DIF Profile

DIF is an independent and specialist fund management company, managing funds of approximately €4.6 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds, including DIF Infrastructure V, target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities.

Both strategies targets both greenfield and brownfield projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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Investor Group to Acquire Voya’s Closed Block Variable Annuity Business

Apollo

–Consortium Led by Apollo, Crestview Partners, and Reverence Capital Partners to Form Industry Solution for Variable Annuities–

NEW YORK–(BUSINESS WIRE)–Dec. 21, 2017– An investor group led by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE:APO), Crestview Partners (“Crestview”), and Reverence Capital Partners (“Reverence”), today announced they have entered into a definitive agreement to acquire Voya Financial, Inc.’s (“Voya”) (NYSE:VOYA) Closed Block Variable Annuity business (the “CBVA Business”). The investment will be made through a newly formed standalone entity (“Venerable Holdings, Inc.” or “Venerable”). The proposed transaction, which is expected to close in the second or third quarter of 2018, is subject to regulatory approvals and other customary closing conditions. Apollo, Crestview, and Reverence will own equal stakes in Venerable, and Athene Holding Ltd. (“Athene”) (NYSE:ATH) and Voya will also acquire minority positions in Venerable.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171221005353/en/

The investors in Venerable are all well-established strategic investors with significant regulatory credibility and experience in successfully building and growing insurance businesses with patient, long-term capital. Upon closing of the transaction, Venerable will be conservatively capitalized to CTE 98+. The investors in Venerable believe it is advantageous that the CBVA Business will operate as a private company, with a hedging strategy that will focus on the economic and regulatory stability of the underlying assets and statutory capital strength rather than reducing GAAP earnings volatility. In connection with the transaction, Voya Investment Management will become Venerable’s preferred asset management partner. Voya has substantial heritage and knowledge in this area and will manage the assets of the CBVA Business as well as the assets from future acquisitions of closed block variable annuities by Venerable.

Apollo, Crestview and Reverence said, “We are attracted to Voya’s CBVA Business due to the strength of the team and platform, and the structure and stability of the underlying assets. We believe blocks such as the CBVA Business are best owned through private ownership. In addition, we believe success in variable annuities is primarily calibrated with effective risk management, which is Venerable’s most significant core competency. With a sole focus on variable annuities and support from an outstanding group of strategic investors, Venerable is uniquely positioned to serve as a leading industry solution for the consolidation of variable annuity blocks and the creation of long-term economic value.”

In connection with the transaction that is being announced today, Athene has signed a definitive agreement to reinsure approximately $19 billion of Voya’s fixed and fixed indexed annuities, which will be administered by Venerable, and Athene Asset Management will provide asset management services for these fixed annuities. In addition, Athene will be Venerable’s strategic partner for fixed annuity blocks as opportunities arise going forward.

The senior leadership team of the current CBVA Business, including Patrick Lusk, David Wiland, and Timothy Brown, will remain in place at Venerable and will continue to perform the same functions. Venerable will also establish a core group of employees exclusively focused on risk management and operational efficiency.

Venerable’s headquarters will remain in the CBVA Business’s current headquarters in West Chester, Pennsylvania, and the CBVA Business’s existing U.S. operations will be consolidated in Des Moines, Iowa. Over time, as Venerable acquires additional variable annuity portfolios, it expects to build a meaningful presence in Des Moines and establish a center of excellence for variable annuities.

Barclays is serving as financial advisor and Sidley Austin LLP is serving as legal counsel to Venerable in connection with this transaction.

About Apollo Global Management

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management (AUM) of approximately $242 billion as of September 30, 2017 in private equity, credit and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.

About Crestview Partners

Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over $7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management. Crestview has senior investment professionals focused on sourcing and managing investments in each of the specialty areas of the firm: energy, financial services, industrials and media. For more information: www.crestview.com.

About Reverence Capital Partners

Reverence Capital Partners is a private investment firm focused on thematic investing in leading global, middle-market Financial Services businesses through control and influence oriented investments in 5 sectors: (1) Depositories and Finance Companies, (2) Asset and Wealth Management, (3) Insurance, (4) Capital Markets and (5) Financial Technology/Payments. The firm was founded in 2013, by Milton Berlinski, Peter Aberg and Alex Chulack, after distinguished careers advising and investing in a broad array of financial services businesses. The Partners collectively bring over 90 years of advisory and investing experience across a wide range of financial services sectors.

Forward Looking Statements

This press release may contain forward looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to our dependence on certain key personnel, our ability to raise new private equity, credit or real estate funds, market conditions, generally, our ability to manage our growth, fund performance, changes in our regulatory environment and tax status, the variability of our revenues, net income and cash flow, our use of leverage to finance our businesses and investments by our funds and litigation risks, among others. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in Apollo’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2017, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Source: Apollo Global Management, LLC

Apollo
For investor inquiries regarding Apollo:
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Apollo Global Management, LLC
gstein@apollolp.com
or
Noah Gunn, 212-822-0540
Investor Relations Manager
Apollo Global Management, LLC
ngunn@apollolp.com
or
For media inquiries regarding Apollo:
Charles Zehren, 212-843-8590
Rubenstein Associates, Inc. for Apollo Global Management, LLC
czehren@rubenstein.com
or
Crestview
Jeffrey Taufield/Daniel Yunger, 212-521-4800
Kekst and Company
jeffrey.taufield@kekst.com / daniel.yunger@kekst.com
or
Reverence
Milton Berlinski,212-804-8022
Co-Founder and Managing Partner
Reverence Capital Partners
milton.berlinski@reverencecapital.com

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Fortino Capital invests 20 million euros in expense management software pioneer MobileXpense

Fortino Capital

Zaventem, 21 december 2017 – Fortino Capital invests the first 20 million euros from its new Digital Growth Fund in fast growing cloud software pioneer MobileXpense. The Brussels-based company is specialised in travel and expense management and already completed more than 1.300 implementations worldwide.

As a majority shareholder, Fortino Capital will assist the MobileXpense management to further expand internationally and grow in the medium to large corporate segment by boosting sales and marketing efforts and by enriching the product portfolio.

MobileXpense was founded in 2000 by Xavier Deleval and Patrick Billiet who had previously worked together at Shell. They have a strong international customer base in various sectors, including many global deployments for Fortune 500 companies and world industry leaders (such as 2 of the world leading beverage companies, Engie, UCB, Porsche), as well a strong presence in the Dutch public sector.

Xavier Deleval, CEO MobileXpense: “We have developed a strong foundation in global expense management software solutions, following years of hard work out of the spotlights. Fortino Capital will guide us in our next steps to strengthen our commercial organisation and accelerate our product development.”

MobileXpense’s software distinguishes itself through its cost effectiveness, flexibility and ease of implementation. Its management tools integrate with all major ERP systems, travel booking tools, credit card issuers and meets the requirements of the most sophisticated multinationals. 

Matthias Vandepitte, Partner at Fortino: “This first investment exactly hits the of our new 200 million euros Digital Growth Fund. MobileXpense helps companies manage their travel and expense costs in a fully automated way, allowing them to gain efficiency and reduce expense spending through digitization. We look forward to grow this company to the next level.”

With its first fund, Fortino Capital has a track record in scaling up B2B software-as-a-service companies. Since the launch of the investment fund in 2013, Fortino has brought investment, expertise and their extensive network to the table to guide companies such as Teamleader in becoming successful and flourishing enterprises. With this second fund, the investment company now continues to target growth through digitization in Benelux companies.

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OpenSolution teams up with Finnpos

ik-investment-partners

OpenSolution, a leading Nordic payment solution provider owned by IK Small Cap I Fund, has reached an agreement to acquire Finnpos, an electronic payment solutions company based in Finland. Terms of the transaction were not disclosed.

OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos and arenas. The company covers the entire value chain of payment solutions, making it a single point of contact for over 8,000 customers throughout Scandinavia. The acquisition of Finnpos extends OpenSolution’s geographic reach and bolsters the company’s position as a key player in the Nordic region.

Finnpos is a leading payments solution provider for restaurants and petrol stations in Finland, generating sales of approximately €10m. The company has major and local oil companies chains as well as both larger and smaller restaurants as customers. It has 64 employees and is headquartered in Tampere, Finland and with a sales office in Helsinki.

Combined sales of the group will be above MEUR 30 (2017).

Christian Johansson, CEO and founder of OpenSolution, said: “Through the acquisition of Finnpos, OpenSolution will become a true Nordic player and market leader within our chosen verticals. Their product portfolio will undoubtedly add to the company’s capabilities, and we are looking forward to working closely with Markku and the Finnpos team.”

Markku Piippo, CEO of Finnpos, said: “Joining forces with OpenSolution allows us to expand our services to our Nordic customers in Finland and throughout the market. With our combined product portfolios and our joint capabilities in product development, we become a stronger partner to our customers. We are truly excited about this opportunity.”

For further questions:

Christian Johansson
CEO, OpenSolution
+46 703 188530
christian.johansson@opensolution.se

Markku Piippo
Current CEO, Finnpos Systems
+358 40 5068700
markku.piippo@finnpos.fi

About OpenSolution
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se

OpenSolution, a leading Nordic payment solution provider owned by IK Small Cap I Fund, has reached an agreement to acquire Finnpos, an electronic payment solutions company based in Finland. Terms of the transaction were not disclosed.

OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos and arenas. The company covers the entire value chain of payment solutions, making it a single point of contact for over 8,000 customers throughout Scandinavia. The acquisition of Finnpos extends OpenSolution’s geographic reach and bolsters the company’s position as a key player in the Nordic region.

Finnpos is a leading payments solution provider for restaurants and petrol stations in Finland, generating sales of approximately €10m. The company has major and local oil companies chains as well as both larger and smaller restaurants as customers. It has 64 employees and is headquartered in Tampere, Finland and with a sales office in Helsinki.

Combined sales of the group will be above MEUR 30 (2017).

Christian Johansson, CEO and founder of OpenSolution, said: “Through the acquisition of Finnpos, OpenSolution will become a true Nordic player and market leader within our chosen verticals. Their product portfolio will undoubtedly add to the company’s capabilities, and we are looking forward to working closely with Markku and the Finnpos team.”

Markku Piippo, CEO of Finnpos, said: “Joining forces with OpenSolution allows us to expand our services to our Nordic customers in Finland and throughout the market. With our combined product portfolios and our joint capabilities in product development, we become a stronger partner to our customers. We are truly excited about this opportunity.”

For further questions:

Christian Johansson
CEO, OpenSolution
+46 703 188530
christian.johansson@opensolution.se

Markku Piippo
Current CEO, Finnpos Systems
+358 40 5068700
markku.piippo@finnpos.fi

About OpenSolution
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se

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AURELIUS successfully closes the Studienkreis Group exit

Aurelius

  • Selling price EUR 71.7 million
  • Multiple of capital employed of 11.6x
  • Significant increase in revenues and profitability after successful realignment by AURELIUS following acquisition in 2013
  • Record dividend for 2017 of EUR 5.00 per share

Munich, 21 December 2017 – As of 20 December 2017, AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) successfully completed the sale of its portfolio company Studienkreis to IK Small Cap I Fund, a fund advised by the pan-European private equity firm IK Investment Partners. The selling price is EUR 71.7 million, with a multiple of capital employed of 11.6x. Studienkreis Group is already the third very successful exit by AURELIUS in 2017.

Significant increase in revenues and profitability after successful realignment by AURELIUS following acquisition in 2013

Since the acquisition of Studienkreis Group from Franz Cornelsen Bildungsgruppe in 2013, AURELIUS established the company as clear No. 2 in the tutoring market with roughly 1,000 locations in the German-speaking countries and roughly 60,000 students. During the time with AURELIUS, more than 140 new locations were opened or acquired from franchise partners; to this end, a seven-digit amount was invested in Studienkreis every year. Furthermore, an innovative, integrated online programme was developed and established. Besides contacting customers through targeted online marketing, tailored tutoring services are offered on the Internet. The programme also features its own Studienkreis app.

On the basis of these measures, revenues increased by over 20 percent and EBITDA more than quintupled under AURELIUS ownership.

Record year allows for a dividend increase to EUR 5 per share

“2017 was a very eventful but primarily also extremely successful year for AURELIUS. We successfully exited several realigned companies and acquired seven new companies”, says Dirk Markus, CEO of AURELIUS Equity Opportunities. “As a result, our shareholders can also benefit from a record dividend. The dividend proposed by the Executive Board provides for a 25 percent increase in the overall dividend per share compared with the prior-year figure from EUR 4.00 to EUR 5.00. Measured in terms of the current return of almost 9 percent, AURELIUS is at the top of the league table in terms of German dividend-bearing shares.”

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Aurelius acquires UK-based Connect Books

Aurelius

  • European multi-channel wholesaler, distributor and retailer of books with revenues of approx. EUR 250 million in 2017
  • Non-core asset of UK-listed Connect Group as it focuses on its specialist logistics business
  • Significant potential for the AURELIUS operating model
  • Connect Books to be rebranded back to Bertram Group

Munich/London December 21, 2017 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) (“Aurelius” or “the Group”), the listed pan-European mid-market investor, today announces the acquisition of Connect Books from FTSE-listed specialist distribution company Connect Group Plc.

Connect Books is a multi-channel wholesaler, distributor and retailer of printed and digital books, with operations in UK, the Netherlands, and France. The business has projected revenues of approximately EUR 250 million for 2017. Connect Group is selling the division as it seeks to focus its strategy on its specialist logistics business. The transaction is subject to the approval of the competition authorities and is expected to close in January 2018.

On completion, Connect Books, will be rebranded back to Bertram Group.

European multi-channel wholesaler, distributor and retailer of books with revenues of approx. EUR 250 million in 2017

Connect Books is a global multi-channel books business with a strong competitive position across the UK and Europe. It is comprised of six distinct brands as follows:

·        Bertram Books is a leading UK B2B books wholesaler. Bertram offers bespoke services, from complete stock management tools to direct fulfilment for internet retailers.

·        Wordery is the UK’s fastest growing B2C online bookshop offering access to more than 13 million titles.

·        Dawson Books is a market leading supplier of print and digital content including shelf-ready, metadata and workflow services to Universities in the UK and internationally.

·        Erasmus and Houtschild are specialist suppliers and curators of high quality print books and journals servicing academic and corporate libraries internationally, with extensive expertise in sourcing hard-to-find content.

·        Bertram Library Services is a key supplier of printed shelf ready books to public libraries in UK, Ireland and internationally.

Connect Book’s UK businesses are supported by a state-of-the-art warehouse operation in Norwich which provides consolidation, library preparation services and distribution, with capacity to also drive other products.

Significant potential for the AURELIUS operating model

In the coming months, AURELIUS operational task force experts will support Connect Books management in executing a carve-out from Connect Group, ensuring minimal distraction from the company’s day-to-day business. Following acquisition, AURELIUS will also work with the team to implement its planned growth strategy across its full brand range, with a focus on expanding the business’ international footprint, service offering, marketing capabilities and e-commerce platform.

Dirk Markus, CEO of Aurelius, commented: “We are very pleased to announce our acquisition of Connect Books, an established, global business and one of the market leaders in its sector. This acquisition is a further demonstration of AURELIUS’ position as a preferred partner for corporates seeking a complex carve-out of a non-core business and we very much look forward to working with Connect Book’s existing management to support the business in its next stage of growth.

Justin Adams, Managing Director of Connect Books, commented: “Since the decision by Connect Group to focus on becoming a specialist logistics business, we have been exploring various ownership options. In Aurelius I believe we have found an owner that has the financial and operational capabilities to help us on our journey to build the best one stop shop for content and support us in the ongoing shift towards becoming a more customer-centric, agile solutions provider for our customers and suppliers. In the immediate term it remains business as usual as we complete our peak trading season and gear up for the new calendar year.”

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