The Carlyle Group enters into exclusive negotiations to acquire HGH Infrared Systems

Carlyle

Paris/Igny, France, 18 May 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has entered into exclusive discussions with HGH Infrared Systems (HGH) to acquire a majority stake in the specialist provider of infrared technology solutions, alongside management.

The proposed transaction will be subject to customary employee consultations and regulatory approvals. Equity for the transaction will be provided by Carlyle Europe Technology Partners III and it is expected to close in Q3/4 this year.

Founded in 1982 and headquartered in Igny, France, HGH develops and sells innovative optoelectronic and infrared systems and software for surveillance applications, test & measurement and industrial thermography to blue-chip customers in different end-markets. In particular, HGH offers a range of high-end solutions for surveillance applications in the security, defense, oil & gas and energy industries with its “Spynel” line of panoramic detection systems and “Cyclope” software for wide area surveillance. Other solutions include equipment for electro-optical systems calibration & testing as well as thermal scanners and pyrometric cameras for remote temperature and combustion monitoring. HGH operates two R&D and assembly sites in the Optics Valley near Paris, France and in California, USA. The company provides solutions to clients across 40 countries through two recognized brands HGH Infrared Systems and Electro Optical Industries (EOI).

Thierry Campos, CEO of HGH Infrared Systems, said: “This potential partnership with Carlyle is excellent news for our customers. It will also help HGH to move to the next level and to build on our strong international growth trajectory. Through significant investment in R&D, we have positioned our company as a technology leader and we have acquired major customer references in a number of markets. Carlyle’s global footprint and scale as well as its experience and networks in the aerospace & defense, oil & gas and energy markets will help us to further develop the company’s international presence and to broaden our blue-chip customer base.”

Vladimir Lasocki, Managing Director and co-Head of the Carlyle Europe Technology Partners team, commented: “Demand for wide area surveillance technologies is accelerating across all geographies, with increasingly sophisticated needs for the surveillance of critical infrastructure. HGH has become a reference in its markets and has built a solid foundation for future growth. In particular, HGH has developed a unique proposition with the Spynel, enhanced by its proprietary software for image processing and analysis allowing it to detect and see several targets at the same time at 360-degrees. We believe Carlyle can provide a platform for growth to HGH and look forward to working on the next phase of growth of the company.”

Cyril Bourdarot, Associate Director on the Carlyle Europe Technology Partners team, said: “We are impressed by HGH’s strong track-record and scalable business model. Over the past few years, HGH has experienced sustained double-digit growth, driven by the company’s outstanding technology solutions, software capabilities and customer-centric approach. We believe there will be significant future demand for HGH’s proprietary technologies and we are excited to partner with Thierry and his team to support the business as it looks to expand and increase growth across different commercial end-markets.”

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About HGH Infrared System

HGH Infrared Systems has been an expert in infrared technology for over 30 years. Since 1982, HGH designs, develops, assembles and sells electro-optics systems and software for security, defense, oil & gas, energy and various industrial applications. The company has established itself as an international reference in terms of innovation in infrared technology, through the development of multiple advanced sensors, systems and proprietary software.

HGH Infrared Systems’ Head Office is located in Igny near Paris, in the heart of the French Optics Valley, where the most well-known research laboratories and companies are based.

About the Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Carlyle Europe Technology Partners

Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.

Media Contacts
Daphné CLAUDE & Dominic RIDING
carlyle@steeleandholt.com
+33 6 66 58 58 81 92 / +33 6 57 48 83 24   

Katarina Sallerfors
Katarina.sallerfors@carlyle.com
+44 (0)20 7894 3554

 

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The Carlyle Group Provides Financing to Canadian Homebuilder Empire Communities

Carlyle

New York, NY and Vaughn, Ontario – Global alternative asset manager The Carlyle Group (NASDAQ: CG) and Empire Communities, one of the Canada’s largest homebuilders, today announced that Carlyle’s credit opportunities fund has provided C$225 million in growth capital financing for Empire’s initiatives in Canada and the U.S.

Mat Feldman, a Managing Director on Carlyle’s credit opportunities team, said, “We are pleased to partner with Empire, a vertically integrated and best-in-class development company.  Empire has great assets and a phenomenal track record of creating value.” Alex Popov, Head of Carlyle’s credit opportunities fund, said, “Our core strategy is to invest in the growth of strong companies with committed owners. Empire’s talented management team, led by its three co-founders, has a hands-on style that positions the firm for continued success.”

Empire Co-Founder and CEO Daniel Guizzetti, said, “Carlyle has created a unique financing solution that supports Empire’s growth objectives. We see significant opportunity across Canada and the US, and we are now positioned to capitalize on those opportunities having the financial backing of a premier investment firm like Carlyle.”

Founded in 1993, Empire has built more than 10,000 homes and high-rise condos across Southwestern Ontario and the Greater Toronto Area, with more than 20,000 new homes in the pipeline. Empire is committed to sustainable development and works to positively impact the neighborhoods where they build and the communities they create.

Capital for the investment came from Carlyle’s credit opportunities fund. Carlyle’s opportunistic credit team invests primarily in highly-structured and privately negotiated capital solutions supporting corporate borrowers.

Scotia Capital and RBC Capital Markets acted as a financial advisor to Empire Communities, while Goodmans LLP and Borden Ladner Gervais LLP acted as legal counsel to The Carlyle Group and Empire Communities, respectively.

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About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents. www.carlyle.com

About Empire Communities

Empire builds vibrant low-rise and high-rise communities across Southwestern Ontario, the GTA and Houston, Texas. Founded in 1993, Empire has built over 10,000 new homes and condos, combining innovative energy-saving features with designs that make luxury living more affordable. Today, Empire is one of the largest homebuilders in Canada, with over 100 awards for their communities, customer service and dedication to green building. www.empirecommunities.com

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Contacts:

The Carlyle Group
Liz Gill
+1-202-729-5385
Elizabeth.gill@carlyle.com

 

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The Carlyle Group acquires prime City of London building from Amsprop to expand its ‘Uncommon’ flexible workspace brand

Carlyle

17 MAY 2018, London, UK – Global alternative asset manager The Carlyle Group (NASDAQ: CG) has acquired The Crosspoint building on Liverpool Street in London from Amsprop in an off-market transaction. This investment adds to the Uncommon flexible office and co-working business that Carlyle and the Adir Group launched in June 2017.  Capital for this investment came from investment funds that Carlyle advises.

The building is to be rebranded ‘Uncommon Liverpool Street’, with an opening expected later this year.  The 41,000 sq ft nine-storey office benefits from 360 degree views over the City skyline including two roof terrace gardens. Adjacent to Liverpool Street station, the site offers excellent access to the London underground, mainline railway services and, from 2019, the new Elizabeth Line Crossrail station.

Liverpool Street will be Uncommon’s fourth and largest flexible workplace facility in London, adding 850 workstations to the existing 1500-desk portfolio, which comprises operational assets in Islington and Borough, as well as a 26,000 sq ft facility in Fulham that is scheduled to open this summer.

Carlyle and the Adir team aim to expand Uncommon further across London, targeting locations with strong transport connections. The product aims to take advantage of changing working patterns and mind-sets, as well as occupiers’ increased requirements for flexible space, with high levels of service and a focus on the connection between employee well-being and productivity.

Uncommon’s workplaces are designed to appeal to established companies, small businesses and start-ups capitalising on the need to expand and contract as the size of their operations change.

Peter Stoll, Managing Director at The Carlyle Group, commented: “Crosspoint is a superb addition to Uncommon which will dramatically raise the profile of the business and improve its London footprint. From a property standpoint it is a brand new grade A office building with flexible floorplates, a lot of natural light, some spectacular common areas and terraces which fit perfectly into the exacting requirements for design that defines Uncommon. The incredible connectivity sits comfortably in the context of growing and changing work-life patterns in London.”

Chris Davies, Director at Adir Group said: “It’s a superb asset that matches our exact requirements and adds another flag on the London map for Uncommon. We will create a unique and creative environment, moments from a major transport hub, for our members to work and enjoy, while we support them in every way. We look forward to adding additional freehold sites to the portfolio over the coming months.”

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For further information, please contact:
FTI Consulting – for The Carlyle Group: +44 (0)20 3727 1000
Richard Sunderland / Richard Gotla/Eve Kirmatzis
Carlyle@fticonsulting.com
https://uncommon.co.uk/

Notes to editors

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Adir Group

The Adir Group is headed by Gal and Tania Adir, and is focused on disrupting the property and lifestyle sectors with creative innovation. Uncommon is the latest venture in Adir’s development as a creator of inventive brands, continuing their commitment to pioneering the most up-to-date advances in technology and design.

The group originally founded an award-winning residential development company over six years ago which has been successfully acquiring and developing residential assets in prime and near prime London since 2011 ranging between high value single dwellings to multiple unit schemes.

Using their expertise in residential redevelopment and interior design, Adir founded co-working brand Net.Works. in 2014 which was rebranded as Uncommon. Since then, they have developed the first site in Highbury and Islington, which has been operating successfully since April 2015.

Web: www.adirgroup.co.uk

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EQT to sell global medtech company HTL-Strefa

eqt

  • EQT V to sell global medtech company HTL to Investindustrial. Following the acquisition, HTL will be combined with Artsana’s healthcare business PIC
  •  During EQT’s ownership, HTL has transformed into an innovative medtech company with a global leadership position in medical sharp devices
  •  The transformation has enabled strong organic growth and improved profitability through strong customer focus and relentless drive to commercialize innovation
  •  New management has led HTL into the next level of growth based on a newly developed and already proven growth strategy that Investindustrial aims to continue to implement

EQT V (or “EQT”) has agreed to sell HTL-Strefa S.A. (“HTL”) to Investindustrial. Following the acquisition, HTL will be combined with PIC (www.picsolution.com), Artsana’s healthcare business acquired by Investindustrial in 2016. HTL is a fast-growing medtech company and pioneer in medical sharp devices, providing critical medical products across more than 80 countries globally addressing continuously growing healthcare needs.

EQT V acquired HTL in December 2009 with the strategy to strengthen HTL’s position as the global market leader in blood micro-sampling devices while expanding into adjacent product categories. The new management team, led by Mikkel Danvold, accelerated the transformation of HTL into a customer-centric innovative medtech company offering superior solutions to its customers. The transformation has been accomplished by driving a strong commercial agenda throughout the organization and by leveraging the superior quality and operational fundamentals of HTL. Expansion into multiple adjacent market segments, supported by increased investments in product development and production capacity have allowed HTL to experience strong organic growth and increased profitability.

From 2009 to March 2018 LTM, revenues doubled to approximately EUR 82 million and adjusted EBITDA more than doubled. Already in 2017 HTL doubled its revenue and EBITDA growth versus previous years and in the first quarter of 2018 alone, HTL has further accelerated growth to 4x historical growth rates.

Mads Ditlevsen, Partner at EQT Partners and Investment Advisor to EQT V, says: “HTL has undergone an extraordinary transformation and is today a true global market leader in medical sharp devices. This is especially thanks to the new management team who has done a fantastic job in shaping and executing on the company’s strategy to become a customer-centric innovative medtech company. We believe the foundation for long-term growth now is set, and that Investindustrial will be a great partner for HTL to continue its journey.”

“Together with EQT we have embarked on an ambitious transformation journey and are experiencing an incredibly strong momentum in the business. Investindustrial is an excellent partner and long-term owner of HTL and I am truly excited about the combined opportunities and potential for HTL and PIC in the next development phase”, says Mikkel Danvold, CEO of HTL.

The transaction is subject to approval from the relevant authorities and is expected to close in Q3 2018.

EQT V and management were advised by J.P. Morgan, Kirkland & Ellis and EY. 

Contacts
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT V, +45 23 73 38 43
EQT Press office, +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About HTL-Strefa
HTL-Strefa is a world-leading medical device company that innovates, develops, manufactures and provides blood micro-sampling devices and drug delivery devices for both professional care and home care segments. The modern manufacturing process and nearly 20 years of experience on the global market allows HTL to successfully ensure safety and convenience for both patients and health care professionals, while being at the forefront of industry innovation. HTL employs approximately 1,400 FTEs who are dedicated to continuously ensuring the highest quality for each of the 3.5bn products that are produced annually. In addition, HTL is continuously launching new solutions to meet the changing needs of both patients and health care professionals.

More info: www.htl-strefa.com

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Sivantos and Widex merge to create global hearing aid leader

eqt

  • Intention to merge leading hearing aid companies Sivantos and Widex into a top-three contender globally with a comprehensive, multi-channel sales and distribution platform in more than 125 markets and combined revenues of approximately EUR 1.6 billion
  • Combined businesses to become a global R&D powerhouse as well as an innovation leader with approximately 800 specialists and abundant resources to further accelerate innovation of hearing instruments and tailored solutions including by leveraging its leading digital platform
  • Ambition to redefine the competitive landscape for hearing aids serving both existing users as well as improving the offering and access to the millions with hearing impairments
  • Exciting career opportunities for the more than 10,000 employees in both organizations across the globe

Lynge, Denmark and Singapore May 16, 2018: EQT funds, owners of Sivantos Pte. Ltd. (“Sivantos”), and the Tøpholm and Westermann families, owners of Widex A/S (“Widex”), today announced that they have agreed terms to merge the two companies. The strategic merger of equals will create a global hearing aid leader generating combined revenues of approximately EUR 1.6 billion and employing more than 10,000 people worldwide. The transaction values the combined entity at an enterprise value of more than EUR 7 billion.

The merger aims at accelerating growth, strengthening market penetration and enhancing efficiencies to enable additional investments into R&D and supply chain. This will allow the merged company to expand access to hearing healthcare via its dedicated salesforce through even more innovative solutions across a wide range of hearing needs, increasing the quality of life of millions of people and allowing them to actively participate in social life.

Marcus Brennecke, Partner at EQT Partners and Investment Advisor to the EQT funds, says: “Sivantos has developed immensely during EQT funds’ ownership and now the idea is to create a game changer for the future of hearing. Combining these two innovative companies will change the hearing experience for people with hearing loss across the world. In Widex, we have found an equally strong partner to Sivantos, sharing a passion for enriching the quality of life for people with hearing deficiencies. The combined company presents a unique opportunity for EQT to extend the investment horizon in Sivantos and take part of the next phase of transforming the hearing aid industry. With nearly 170 years of combined experience, Sivantos and Widex will take the lead in developing hearing aid technology for future generations.”

Jan Tøpholm, Chairman of Widex, added: “We and Sivantos share a common vision of giving people unlimited access to a world of sound by providing unparalleled hearing aids and customer services. I am confident that our employees, partners and customers will benefit from this merger as it will allow us to accelerate our efforts to pioneer innovation, quality, manufacturing and customer satisfaction. Further we will expand our geographical footprint and provide exciting career opportunities for our employees across countries and functions. The merger fits with the families’ values and long-term goals for Widex and that’s why we have decided to substantially invest to become long-term owners.”

Global R&D powerhouse and innovation leader

The intended merger will create one of the most innovative R&D teams in the industry backed by financial and strategic capabilities as well as strong digital skills to become a global powerhouse for innovative hearing aids and hearing care solutions. Combined R&D resources include approximately 800 specialists in R&D centers located in Singapore, Erlangen (Germany) and Lynge (Denmark) with more than EUR 100 million in annual R&D spending.

The R&D centers will continue to develop, and innovation will be accelerated to bring more products to markets faster, to regularly update and develop technology platforms and address more types of hearing disabilities with creative, high-tech and user-friendly solutions. Sivantos and Widex have a joint ambition to change the industry paradigm through digitization, customization and next generation services to transform end-user experience and expand access to hearing.

Both companies have a history of being “first movers”. Building on Siemens’ heritage, Sivantos’ most recent accomplishments include Signia Nx™, a game changing hearing aid platform resolving the “own voice” issue by digitally filtering out any noise disturbances thus improving hearing comfort. Sivantos is also a pioneer in digitalization and remote hearing care with its TeleCare solution allowing audiologists to adjust hearing aids remotely in real time. Widex has recently launched the groundbreaking WIDEX EVOKE™ – the first hearing aid to feature advanced machine learning technology in real time, allowing the hearing aid to learn the user’s preferences and share that learning.

Truly global footprint and strong brands

The combined entity will have a comprehensive, multi-channel sales platform spanning more than 125 markets. The current Sivantos and Widex sales teams will continue to serve and further develop both traditional retail channels and innovative online channels. The ambition is to create a truly global provider with a complementary offering and touchpoints reaching more people with hearing aid needs across the world and securing second to none service to customers. Around 700 million people worldwide suffer from different levels of hearing loss of which only around 10% currently use hearing aid devices.

Sivantos offers a diverse portfolio of technologically advanced products. Product brands include Signia, Siemens, Audio Service, Rexton and A&M, while retail and online brands include HearUSA, audibene and TruHearing. Sivantos has a strong presence in the online channel leveraging its digital capabilities through its strategic partnership with audibene and has recently strengthened its US footprint through a strategic partnership with TruHearing.

Widex offers sophisticated hearing aid technology focusing on high-end solutions. The key brand Widex is supplemented by the Coselgi brand and local brands in certain markets. Products are offered via wholesalers to governments, retail chains and independent retailers, while Widex has an established presence in the B2C market with sales via own retail and online channels directly to end-users.

Sivantos and Widex combined will become an even more global and growth-focused organization. By joining forces, the combined business will offer its employees even better prospects to develop professionally across geographies and functions.

The combined entity will be owned by EQT funds (EQT VI, EQT VII and EQT VIII), including co-investors, as well as the Tøpholm and Westermann families of Denmark. The Tøpholm and Westermann families, founders and owners of Widex, will be the largest individual shareholder in the combined entity reflecting their long-term commitment to the company. The merger will combine the strengths of EQT funds’ value creation capabilities in building sustainable companies with the Widex owners’ long-term ownership horizon. The new headquarters will be based in Lynge (Denmark) and Singapore. The Board of Directors and Management will have a balanced representation from both companies.

The transaction is subject to regulatory approvals and other customary closing conditions. The approval process starts today. Until closing, the merger will have no effect on employees, customers or suppliers.

Financing in connection with the merger is provided by J.P. Morgan, Goldman Sachs and Deutsche Bank and is expected to replace existing financing arrangements. Latham & Watkins has acted as financing counsel. Widex is advised by J.P. Morgan, Kromann Reumert and Deloitte. EQT and Sivantos are advised by Freshfields Bruckhaus Deringer, Plesner, PricewaterhouseCoopers and AON. The Boston Consulting Group has provided additional commercial advice.

This press release constitutes a public disclosure of inside information by Auris Luxembourg II S.A. under Regulation (EU) 596/2014 (16 April 2014). This notification was made by Willem-Arnoud Van Rooyen of by Auris Luxembourg II S.A, on May 16, 2018.

This press release is translated into multiple languages for information purposes. In case of a discrepancy, the English version shall prevail.

Contacts
EQT Press office +46 8 506 55 334
Widex Chairman Jan Tøpholm via Point Communications + 45 23 24 72 10
Sivantos VP Corporate Communication, Gert Van Santen +49 152 02874320

About Sivantos Group
The business operations of the former Siemens AG hearing aid division have been combined into the Sivantos Group (headquartered in Singapore) since early 2015. Sivantos can look back on more than 130 years of German engineering and countless global innovations. Today Sivantos is one of the leading hearing aid manufacturers worldwide. With its 5,950 employees, Sivantos’ international sales organization supplies hearing aids and complementary accessories to hearing care specialists and sales partners in more than 120 countries. The owners of Sivantos are EQT along with the Strüngmann family as a co-investor. Sivantos GmbH is a brand license holder of Siemens AG.

More info: https://www.sivantos.com/en/

About Widex
With more than 60 years’ experience developing state-of-the-art hearing technology, Widex (headquartered in Lynge, Denmark) provides hearing solutions that are easy to use, seamlessly integrated in daily life and enable people to hear naturally. One of the world’s leading hearing aid producers, Widex employs around 4,250 people across sales, manufacturing, operations, distribution and R&D in 38 countries, and its products are sold in 105 countries. The current strategy, introduced in 2018, aims at doubling the business in five years. Widex is owned by the Tøpholm and Westermann families, descendants of the founders.

More info: https://global.widex.com/en

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

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Funds managed by Castik Capital acquire ipan Group and Delegate

Castik Capital

Funds advised by Castik Capital, the European private equity investment firm, have entered into binding agreements to acquire majority stakes in two fast-growing intellectual property management services and software companies, ipan Group and Delegate.

ipan Group, headquartered in Munich, is a rapidly-growing provider of intellectual property management services and software. With offices throughout Europe and the US, and long-standing partnerships with 100+ leading IP law firms, it offers highly transparent, efficient and flexible patent annuity, trademark renewal and European Patent (EP) validation services, as well as extended services such as IP recordals. Ipan Group’s software offering comprises the leading intellectual property management software solutions Unycom, IPfolio and IPSS, which enable both corporate IP departments and IP law firms to efficiently manage their IP portfolios along the entire lifecycle. Through the recent launch of ip-x-change, ipan Group has created an open platform connecting services and software to offer a single point of contact for all IP services to its 450+ clients. Founded in 2004 by Anton Bory, ipan Group is led since February 2018 by CEO Jens Lütcke.

Delegate is a fast-growing administrative support service provider with a very strong capability and reputation in services for EP validations and foreign filings, and a growing presence in IP renewals services and IP recordals. It was formed in 2015 through the merger of Valipat, the Brussels-based leading provider of EP validation and filing services, and Envoy, the Glasgow-based fast-growing IP renewals services provider. With offices in Europe and the U.S., it serves 700+ IP law firms and corporate IP departments with in-house attorneys through an agent network of 170+ leading law firms, covering all jurisdictions of the worldwide IP markets. The company is led by CEO Patrice Durand, who has been involved in Valipat since its foundation as part of IP law firm Gevers Group and subsequent spin-off.

“Castik Capital is excited by this opportunity of acquiring two great companies in the growing IP management services and software market, thereby creating an ideal platform for continued organic growth that will enable both companies to develop and enhance their high-quality suite of products and services.” said Michael Phillips, Investment Partner at Castik Capital.

The two companies are continuing to operate under their own brands and will be led by the existing Delegate and ipan Group management teams, who are all fully on board and highly committed to this exciting project.

“This combination is a game-changer. ipan Group and Delegate share similar customer-centric and innovative DNAs. Bringing together our talented teams and highly complementary service and software offerings will enable us to address increasing business demands from IP professionals around the world.” said Patrice Durand, the CEO of Delegate. “This deal sets us on a unique path to face the exciting challenges of the IP industry.”

“We are excited to join forces with ipan Group and Castik, which will be a step-change in our combined capabilities to serve our clients.” said Envoy’s founder David Kennedy.

“We are excited to partner with Castik to enter into the next phase of growth. The combination with Delegate marks another milestone in our development as a leading global provider along the entire IP management lifecycle.” said Anton Bory, founder of ipan Group.

“Combining our complementary focus areas and capabilities will enable us to deliver an even more attractive offering for our customers going forward, and to do so even more efficiently. We are excited to take this next step to accelerate our joint development in partnership with Castik.” said Jens Lütcke, the CEO of ipan Group.

Castik was advised on the transaction by Marks Baughan Securities, PWC and Skadden, Arps, Slate, Meagher & Flom. Financial details of the transaction were not disclosed.

– ENDS –

About Castik
Castik Capital S.à.r.l (“Castik Capital”) manages investments in private equity. Castik Capital is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams.

Castik has an investment horizon of up to ten years – longer than most other private equity funds. This enables Castik to focus resources on its portfolio companies and ensure sustainable, long-term value creation.

Founded in 2014, Castik Capital is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final close at EUR 1.0bn in August 2015.

More information can be found at http://castik.lu

About Delegate IP
Delegate is a fast-growing administrative support service provider with a very strong capability and reputation in services for EP validations and foreign filings, and a growing presence in IP renewals services and IP recordals. It was formed in 2015 through the merger of Valipat, the Brussels-based leading provider of EP validation and filing services, and Envoy, the Glasgow-based fast-growing IP renewals services provider. With offices in Europe and the U.S., it serves 700+ IP law firms and corporate IP departments with in-house attorneys through an agent network of 170+ leading law firms, covering all jurisdictions of the worldwide IP markets. The company is led by CEO Patrice Durand, who has been involved in Valipat since its foundation as part of IP law firm Gevers Group and subsequent spin-off.

More information can be found at https://www.delegateip.com

About ipan Group
ipan Group, headquartered in Munich, is a rapidly-growing provider of intellectual property management services and software. With offices throughout Europe and the US, and long-standing partnerships with 100+ leading IP law firms, it offers highly transparent, efficient and flexible patent annuity, trademark renewal and European Patent (EP) validation services, as well as extended services such as IP recordals. Ipan Group’s software offering comprises the leading intellectual property management software solutions Unycom, IPfolio and IPSS, which enable both corporate IP departments and IP law firms to efficiently manage their IP portfolios along the entire lifecycle. Through the recent launch of ip-x-change, ipan Group has created an open platform connecting services and software to offer a single point of contact for all IP services to its 450+ clients. Founded in 2004 by Anton Bory, ipan Group is led since February 2018 by CEO Jens Lütcke.

More information can be found at https://www.ipan-services.com

Media contact:

Marina Jané Sánchez

CNC

+44 20 3219 8811

Marina.jane-sanchez@cnc-communications.com

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DIF Infrastructure V reaches final close at €1.9 billion

DIF

Schiphol, 15 May 2018 – DIF is pleased to announce the final close of DIF Infrastructure V (DIF V) at the hard-cap of €1.9 billion.

DIF V marks the firm’s sixth successful fund raising for this strategy, following the raising of DIF Infrastructure IV (2015), DIF Infrastructure III (2012), DIF Infrastructure II (2008), DIF Renewable Energy (2007) and DIF PPP (2005). Since 2005, DIF has invested in excess of 165 unique infrastructure projects within this strategy.

Wim Blaasse, Managing Partner of DIF said: “I am extremely proud of this achievement, which is a testament to the strength of the DIF platform. Over the past 13 years the team has been able to generate attractive returns for our investors by consistently investing in high quality projects, enhancing project value during our ownership through active shareholder engagement, as well as by achieving successful realisations. I am confident that we will continue to be successful in our chosen strategy, leveraging our unique global office network and dedicated local teams to complete attractive investment opportunities.”

DIF V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows as well as attractive risk-adjusted returns. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.

DIF V had an accelerated first close in June 2017, enabling the closing of certain pending investment opportunities, with final close occurring on the 15th of May 2018 at an increased hard-cap of €1.9 billion. DIF V has seen strong backing from both existing and new investors in the DIF platform, receiving commitments from leading institutional investors across the globe.

DIF V has committed to eight investments to date, deploying ca. 30% of the fund. This includes investments in Affinity Water, a UK regulated water asset; Autostrade per l’Italia, a large and diversified portfolio of Italian toll roads; University of Tasmania (UTAS), an Australian student housing concession; Synergy, a portfolio of utility scale wind and solar PV power projects in Australia; and American Roads, a portfolio of five US toll roads. Furthermore, the fund has a strong pipeline of investments across its target sectors and geographies, including both greenfield and brownfield projects.

About DIF
DIF is an independent and specialist infrastructure investor and fund manager, with €5.6 billion assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects which have long-term contracted or regulated income streams that generate stable and predictable cash flows. The fund targets both greenfield and brownfield projects in primarily Europe, North America and Australasia.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in amongst others the energy, transportation and telecom sectors which generate stable and predictable cash flows that are protected through mid-term contracted income streams. The fund targets greenfield and brownfield investments in Europe, North America and Australasia.

DIF has a team of over 95 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto, through which it covers its target markets with dedicated local teams.

For more information, please contact:

Allard Ruijs
Partner, Head of Investor Relations and Business Development
Email: a.ruijs@dif.eu
Website: www.dif.eu

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H.I.G. Capital Acquires Parque Ana Costa, a AAA Office Building in Santos, São Paulo, Brazil

RIO DE JANEIRO – May 15, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $25 billion of equity capital under management, announced today the acquisition of Parque Ana Costa, in Santos, São Paulo, Brazil.

Parque Ana Costa is a AAA office building with 17,997 square meters of space, located in Santos, an important coastal city in São Paulo state, 50 miles from the capital (São Paulo). The building was delivered in 2013 and is positioned in Ana Costa Avenue, the main business district in Santos.

Fernando Marques Oliveira, Head of H.I.G. Brazil and Latin America said, “We are very excited to complete this off-market transaction. It reflects our belief that the real estate sector in Brazil is set for a meaningful recovery. As such, H.I.G. is looking forward to committing a significant amount of capital to the sector, building on H.I.G.’s extensive local presence and relationships.”

Daniel Nader, Head of H.I.G. Realty in Brazil added, “It was a good opportunity to acquire a very well built and centrally located asset in Santos’ most desirable business district. The building has performed well in recent years and is the location of choice for foreign multinationals in Santos. Additionally, the Port of Santos is likely to benefit greatly from an economic recovery of Brazil and even more so from a recovery of the Oil & Gas industry.”

Financial terms were not disclosed.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $25 billion of equity capital under management*. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo, Bogotá and Mexico City, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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EQT Real Estate acquires mixed-use property in central Stockholm

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  • EQT Real Estate acquires 9,100 sqm mixed-use property in Stockholm for approximately SEK 345 million (EUR 33 million) before adjustment for latent capital gain taxes
  • Asset offers attractive value-add opportunities through partnerships with existing tenants as well as the potential for future upgrades
  • The investment represents EQT Real Estate’s seventh to date and second in Sweden

The EQT Real Estate I fund (“EQT Real Estate”) continues to invest in established European office markets and today announces the acquisition of the estate Hönsfodret 1, a mixed-use asset comprising both a school and office space, located at Tullgårdsgatan 12 on the island of Södermalm in central Stockholm. The seller is an affiliate of the Swedish insurance company Folksam.

The asset is located within close proximity to key Metro lines and the area has benefitted from strong investment in recent years. Built in 1981, the asset comprises of 9,100 sqm of office and education space and 34 garage parking spaces.

Henrik Orrbeck, Director at EQT Partners and Investment Advisor to EQT Real Estate I, commented: “Hönsfodret 1 presents a rare opportunity to upgrade an existing office building into an attractive inner Stockholm location. This acquisition further underpins EQT Real Estate’s ambition to deliver grade A assets fit for modern occupiers demanding flexible and creative solutions”.

Robert Rackind, Partner and Head of Real Estate at EQT Partners, Investment Advisor to EQT Real Estate I, added: “The Hönsfodret 1 investment represents what EQT Real Estate is all about – identifying underinvested assets in gateway cities in Western Europe with several value-add angles. EQT Real Estate sees many opportunities in this region and will continue to explore the sustained global demand and local needs that exist in these markets”.

EQT Real Estate I was advised on the acquisition by Linklaters, AF Consulting, Concila, Archus and Beadmans.

Contacts
Henrik Orrbeck, Director at EQT Partners, Investment Advisor to EQT Real Estate I, +46 8 506 553 27
Robert Rackind, Partner and Head of Real Estate at EQT Partners, Investment Advisor to EQT Real Estate I, +44 207 430 5550
EQT Press Office +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

More info: www.eqtpartners.com/Investment-Strategies/real-assets/real-estate/

 

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EQT Credit and Ardian Private Debt provide financing for Hg’s investment in MediFox

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EQT Credit, through its Mid-Market investment strategy, today announces that it has provided a senior secured financing solution together with Ardian to support Hg’s (“Hg”) investment in MediFox.

Founded in 1994, MediFox is a leading provider of software solutions to over 6,000 ambulatory care services, elderly care homes and therapists in Germany. Its software solutions support care providers with key services including resource and route planning, care and support documentation, management information systems, as well as billing, factoring and administration services. It is headquartered in Hildesheim, Germany and employs 265 people.

Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “MediFox is well established as a leading software provider for elderly care in Germany. The company enjoys an attractive market leadership in the outpatient segment, long-term track record and product quality. We would like to thank EQT’s independent Industrial Advisors, who as senior executives in the German care home segment, provided key support to the EQT Credit deal team throughout the due diligence process. EQT Credit looks forward to supporting MediFox and its management team under Hg’s ownership.”

Contacts

Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 207 430 5554
Nakul Sarin, Director at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 208 432 5420
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT Credit
EQT Credit invests through three complementary strategies: senior debt, Mid-Market Credit (direct lending) and credit opportunities. Since inception, EQT Credit has invested in excess of EUR 5 billion in over 160 companies. EQT Credit’s direct lending strategy seeks to provide flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. These businesses may be privately-owned corporates seeking alternative funding to grow or be the subject of private equity-led acquisitions or refinancings.

More info: www.eqtpartners.com/Investment-Strategies/Credit
About EQT

EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

 

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