Monthly Archives: May 2018

Activa Capital and Bpifrnance invest in leading French insurance broker Activa Assurances

Activa Capital

Activa Capital and Bpifrance announce the acquisition of a stake in Active Assurances, a French insurance broker specialised in the digital distribution of insurance products.
Thanks to its use of digital technology, Active Assurances has become, in under five years, the leading independent partner of insurance comparison websites in France.
Working in partnership and yet totally autonomously with leading insurance companies, Active Assurances develops products, distributes them on-line, manages the policies, cash flows, and sometimes handles claims.
Since 2016, Active Assurances has extended its expertise to the distribution and management of white-label insurance policies for large brokers, insurers, and mutual insurance companies.
With headquarters in Boulogne-Billancourt, the company also has an offshore management centre with 100 employees, which allows it to maintain a sustained level of efficient service.
By joining the founding shareholders in Active Assurances, Activa Capital and Bpifrance will help support the company during its strong transformation and development stage.
This is the 7th transaction for Activa Capital Fund III.
“We are pleased to welcome Activa Capital, whose expertise will allow us to carry out external growth operations and accompany our fast development,” said Didier Naccache, President of Active Assurances. “With Activa Capital and Bpifrance, we will continue to grow our historic activity while launching new products and distribution channels.”
“This acquisition is in perfect keeping with Activa Capital’s strategy, which is to invest in companies that have reached a turning point in their growth in order to help them transform their businesses,” added Alexandre Masson and Christophe Parier, Partners at Activa Capital.
“Active Assurance’s position as a pure digital player, its commercial dynamism and operational rigor, as well as the determination of management to pursue growth with new products and build-up transactions, were all factors in our decision to back the company,” said Ménelé Chesnot and Matthieu Rabeisen, Bpifrance.

Deal Participants
Founders
Active Assurances: Didier Naccache, Thomas Riottot, Denis Salmoiraghi
M&A: Cambon Partners (Guillaume Eymar, Vincent Ruffat)
Corporate Lawyer: Linklaters (Marc Petitier, Maud Fillon)
Tax Lawyer: Arsène Taxand

Investors
Activa Capital: Christophe Parier, Alexandre Masson, David Quatrepoint, Timothée Héron
Bpifrance: Ménelé Chesnot, Matthieu Rabeisen
Financial Due Diligence: 8 Advisory (Christian Berling, Clément Evain)
Strategic Due Diligence: Monitor Deloitte (Cyril Gay Belan, Samuel Galbois, Adrien Lafargue)
Legal, Fiscal, and Financing Advisors: McDermott Will & Emery (Henri Pieyre de Mandiargues, Félix Huon, Herschel Guez, Anne Febvre, Antoine Vergnat, Pierre-Arnoux Mayoly), Lamartine Conseil (Thierry Filippi, Bérengère Coussolle)
Senior financing
Senior debt: co-arrangers BNP Paribas (Anne-Laure Herbinet) and Banque Populaire Rives de Paris (Olivier Grisard, Chekib Ben Salah)

About Active Assurances
Active Assurances is an insurance broker specialised in the on-line sale of automotive insurance policies. Based in Boulogne-Billancourt, in autonomous partnership with leading insurance companies, Active Assurances develops, distributes, and manages automotive insurance policies. For further information, visit www.activeassurances.fr .

About Activa Capital
Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at activacapital.com or on Twitter @activacapital.

About Bpifrance
Equity investments are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French state and the Caisse des Dépôts and the entrepreneurs’ trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in partnership with Business France. Bpifrance offers to businesses a large range of financing opportunities at each key step of their development, including offers adapted to regional specificities. With its 48 regional offices (90% of decisions are made locally)

Bpifrance represents a strategic tool for economic competitiveness dedicated to entrepreneurs. Bpifrance acts as a back-up for initiatives driven by the French State and the Regions to tackle 3 goals:
• Contributing to SME’s growth
• Preparing tomorrow’s competitiveness
• Contributing to the development of a positive entrepreneur ecosystem.
With Bpifrance, businesses benefit from a powerful, efficient and close representative, to answer all their needs in terms of financing, innovation and investment.

http://www.bpifrance.fr Twitter: @bpifrance / @bpifrancepresse

Activa Capital Media Contacts Steele & Holt Media Contacts
Alexandre Masson Daphné Claude
Partner
+33 1 43 12 50 12 +33 6 66 58 81 92 alexandre.masson@activacapital.com daphne@steeleandholt.com
Christelle Piatto Claire Guermond
Communications Manager
+33 1 43 12 50 12 +33 6 31 92 22 82
christelle.piatto@activacapital.com claire@steeleandholt.com
Bpifrance Media Contact
Nicolas Jelhy
+33 1 41 79 95 12
nicolas.jehly@bpifrance.fr

Categories: News

Tags:

Montagu Private Equity enters exclusive negotiations with Symphony Technology Group for the potential acquisition of Maincare

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, announces today that it has entered exclusive negotiations with Symphony Technology Group and Maincare’s management for the potential acquisition of Maincare.

Over the past twenty years, Maincare Solutions, which specialises in electronic patient records and hospital administration software, has become the main software solutions provider for the healthcare sector in France. Thanks to the Ideo software platform, Maincare has also started its international expansion with its first clients in Luxemburg. Maincare generated sales of €69m over its last 2017 fiscal year with growth of about 10%, it has close to 600 employees.

Christophe Boutin, President of Maincare, said:

“Since becoming independent from McKesson in 2014, Maincare has been structured as an independent company and combined long-term organic growth with focussed acquisitions. Over the next years, Maincare intends to support healthcare’s digitalisation, within hospitals and beyond. We also plan to accelerate our international expansion, having confirmed our potential abroad. To achieve this, our new partnership with Montagu’s team based in Paris, which has substantial experience in these areas, will be a key advantage”

The contemplated transaction remains subject to the approval of relevant regulatory authorities. Bryan Garnier and Linklaters advised Montagu on the transaction.

Categories: News

Tags:

DIF Infrastructure V acquires a majority stake in the A150 toll road in France

DIF

Paris, 22 May 2018 – DIF Infrastructure V is pleased to announce the acquisition from Infravia and TIIC of a 66.7% stake in Albea SAS, a company which holds the concession to operate the A150 toll road in France.

The A150 is a 18-km dual two-lane motorway located in Normandy, France. It connects the city of Rouen with the A29 running to Le Havre. The project reached financial close in 2011 and opened to traffic in February 2015, with the concession running until December 2066. The project was refinanced in November 2017 with €130m of long term financing provided by an institutional investor.

DIF was advised by Depardieu Broccas Maffei (Legal), Mazars (Financial and tax), Leigh Fischer (Traffic), Infrata (Technical) and Gras Savoye (Insurance).

Thomas Vieillescazes, Partner and Head of DIF France, said: ”DIF is pleased to invest in this high-quality asset with attractive traffic growth potential and to expand its footprint in the road sector in France.”

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:

Paul Nash
Partner, Head of PPP/Infrastructure
Email: p.nash@dif.eu

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

Categories: News

Tags:

Partners Group to acquire ownership stake in GlobalLogic Inc. from Apax Funds

Apax

 

ransaction values GlobalLogic at over $2B, bringing another strategic global investor on board for next phase of growth

San Jose, London, and Baar-Zug – May 21, 2018 – GlobalLogic Inc., Apax Partners, and Partners Group today announced that Funds advised by Apax Partners, the global private equity advisory firm, have agreed to sell their ownership stake in GlobalLogic Inc. to Partners Group, the global private markets investment manager, which is acting on behalf of its clients in the acquisition. The transaction values GlobalLogic, a leader in digital product engineering services, at over two billion dollars. Following the acquisition, Partners Group becomes an equal shareholder with existing investor Canada Pension Plan Investment Board (CPPIB).

With over $500M in revenue, and 20%+ organic growth rate, GlobalLogic has more than doubled in revenue and EBITDA since the Apax Funds first invested in the company in 2013. The company has been an innovator in the digital product engineering services space, with 12,000 employees worldwide working at design studios and engineering centers across the globe. GlobalLogic helps clients build innovative digital products that enhance customer engagement, and create new revenue streams. Its clients represent well-known global brands across multiple industry verticals.

Demand for digital product engineering services has grown rapidly, and GlobalLogic has been instrumental in helping organizations navigate the digital transformation arena. Next-generation cloud platforms, mobile and web applications, the Internet of Things (IoT), and other digital experiences have amplified the urgent need for brands to stay inventive and be able to offer customers a personalized and coherent service experience. GlobalLogic helps its customers build these innovative products and accelerates their journey in becoming the digital businesses of tomorrow. With Partners Group on board, the company can leverage the firm’s relationships, as it looks to continue to grow the business, especially in Europe.

“Partners Group has a long and successful track record of working with high growth companies and we are very pleased to have an investor that understands our business and shares our vision of building an even stronger company,” said Shashank Samant, CEO, GlobalLogic. “We are thankful to Apax Partners for their strong partnership and strategic support for the past four and a half years, and we look forward to our next chapter of growth as we expand into new markets and geographies with our new investment partner.”

“GlobalLogic is a market out-performer with strong momentum and a talented management team,” said Todd Miller, Managing Director, Private Equity Americas, at Partners Group in Denver. “Digital transformation throughout the economy is driving demand for next-generation product engineering services, a long-term trend we expect to continue for many years. GlobalLogic’s world-class network of software engineers assist clients to deploy cutting-edge software products that propel their businesses forward. We are excited to work with CPPIB as well as Shashank and his team to further strengthen the company’s competitive position and prospects for sustainable, long-term growth and enduring profitability.”

Rohan Haldea, Partner at Apax Partners, said: “We would like to thank Shashank and his team for all they have achieved over the past four and a half years. By investing in both its people and technical capabilities, GlobalLogic has cemented its position as a global leader in digital product engineering services. By delivering excellent customer outcomes the business has seen impressive growth. We wish the team all the best for the future.”

“We have benefited from a collaborative partnership with Apax over the past year and we are grateful for their contributions to GlobalLogic’s unique digital innovation growth story. CPPIB plans to continue to invest in GlobalLogic through its journey as the partner of choice to Fortune 500 companies for digital transformation and core software product development,” said Ryan Selwood, Managing Director, Head of Direct Private Equity, CPPIB. “We look forward to working alongside another world-class investor in Partners Group to support Shashank’s vision for the next stage of GlobalLogic’s rapid evolution.”

In April 2017, the Apax Funds sold 48% of its equity stake in GlobalLogic to CPPIB.

About Partners Group
Partners Group is a global private markets investment management firm with EUR 62 billion (USD 74 billion) in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in Denver, Houston, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Milan, Munich, Dubai, Mumbai, Singapore, Manila, Shanghai, Seoul, Tokyo and Sydney. The firm employs over 1,000 people and is listed on the SIX Swiss Exchange (symbol: PGHN) with a major ownership by its partners and employees. www.partnersgroup.com

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About GlobalLogic
GlobalLogic is a leader in digital product engineering services. We help our clients design and build innovative products, platforms, and digital experiences for the modern world. By integrating strategic design, complex engineering, and vertical industry expertise — we help our clients imagine what’s possible, and accelerate their transition into tomorrow’s digital businesses. Headquartered in Silicon Valley, GlobalLogic operates design studios and engineering centers around the world, extending our deep expertise to customers in the communications, automotive, healthcare, technology, media and entertainment, manufacturing, and semiconductor industries. www.globallogic.com

About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2017, the CPP Fund totaled C$337.1 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

Media Contacts:

Partners Group
Jenny Blinch, Phone: +44 207 575 2571 | Email: jenny.blinch@partnersgroup.com

Apax Partners
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty / Aduke Thelwell, Kekst | +1 212-521 4800 | Apax@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

GlobalLogic, Inc.

Global Media: Alicia Nieva-Woodgate, ANW Networks | +1 720.808.0086 | alicia@anwnetworks.com.

CPPIB

CPPIB Media Relations: media@cppib.com

Mei Mavin, T: +44 203 205 3406; mmavin@cppib.com

Categories: News

Tags:

Bure has acquired shares in Ovzon AB

Bure

The information was publicly communicated on 18 May 2018, 13:00 CET.

Bure Equity AB (publ) (“Bure”) has, in connection with the IPO of Ovzon AB (“Ovzon”), acquired 1,007,568 shares corresponding to 12.0 percent of the total number of shares and votes in the company provided that the Over-allotment option is excercised in full (corresponding to 13.1 percent should the Over-allotment option not be excercised). Ovzon was listed today, 18 May 2018, on Nasdaq First North Premier Stockholm.

Bure Equity AB (publ)

For more information contact:

Henrik Blomquist, CEO
Tel. +46 8 – 614 00 20

Categories: News

Tags:

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.”

*****

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

 

Categories: News

Tags:

Mecadaq Group acquires TOP US Hard Metal Machining Company Hirschler Manufacturing INC.

Activa Capital

Mecadaq Group, a leading provider of high precision manufacturing for the aerospace industry, has announced the acquisition of Hirschler Manufacturing Inc., a US based company specialised in hard metal machining. The acquisition is another step in Mecadaq’s consolidation strategy , reinforcing the subcontracting chain in the aerospace supply.

Based near Seattle, Washington, USA, with €9m in turnover, Hirschler Manufacturing Inc. produces high-precision mechanical parts made from hard metals such as titanium, stainless steel, and inconel. The company has been a strategic supplier for more than 50 years to large clients in aerospace such as Spirit AeroSystems, Mitsubishi Heavy Industries, or Boeing, which has given the company the “supplier silver award“.

By joining the Mecadaq Group, Hirschler Manufacturing brings its customer portfolio, a recognised know-how in producing critical, complex parts, and quality of service. The company is committed to integrating Mecadaq’s production activities located in California.

This is the third external growth operation in less than 24 months for the Mecadaq Group, bringing its consolidated revenue to nearly €60m and staff to 300 employees.“It is quite an accomplishment for our company with the opportunity to accelerate our growth in North America and also to work directly with “The Boeing Company” as a Tier 1 supplier of detail parts,” said Julien Dubecq, President of Mecadaq Group. “This marks also a major step for Mecadaq, celebrating 10 years anniversary since the first US branch opening.”

“This transaction will allow our Group to reach in just two and a half years the level of turnover we had expected in fiveyears,” added Benjamin Moreau, Partner of Activa Capital. “ In addition to this lead over our original business plan, this external growth transaction reinforces Mecadaq’s leadership position by giving us the potential for new organic growth outside of France.”

 

Deal Participants

Buyers

Mecadaq Group: Julien Dubecq

Activa Capital: Benjamin Moreau, Christophe Parier, David Quatrepoint

Fiscal and Financial Due Diligence: PWC (Andrew Miller, Lisa Jackson)

Legal Due Diligence: Drinker, Biddle & Reath (Luc Attlan, Rémy Nshimiyimana)

Environmental Due Diligence:  ERM (Gary Walters)

Corporate Lawyers USA: Drinker, Biddle & Reath (Luc Attlan,

Rémy Nshimiyimana)

Corporate Lawyers France: Hoche (Grine Lahreche, Christophe Bornes)

Financial Advice: DC Advisory (Alexis Baron)

Strategic Advice: Aero Invest Consulting (Alinh Hoang)

Financing Bank: Société Générale (Marie-Laure de la Grandière)

 

Sellers

Hirschler Manufacturing: Gerald Hirschler

Financial Advisors: First Hill Partners (Michael Black)

Lawyers: Stokes Law (William Neal)

 

About Mecadaq Group

Mecadaq is an industrial group specialised in the manufacturing and assembling of high-precision mechanical parts for the world’s leading aerospace companies. With turnover of nearly €60m, Mecadaq has 300 employees in 7 sites: 4 sites in France (Tarnos, Pessac, Marignier and Chanteloup-les -Vignes, 2 sites in the US(California and Washington), 1 site in Tunisia(Tunis).

Learn more about Mecadaq at mecadaq.com or on Twitter @MecadaqGroup.

About Activa Capital

Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint.

Learn more about Activa Capital at activacapital.com or on Twitter@activacapital.

Activa Capital Media Contacts

Steele & Holt

Media Contacts

Benjamin Moreau

–

Partner

Daphné Claude

+33 1 43 12 50 12

+33 6 66 58 81 92

benjamin.moreau@activacapital.com

daphne@steeleandholt.com

Christelle Piatto

–

Communications Manager

Claire Guermond

+33 1 43 12 50 12

+33 6 31 92 22 82

christelle.piatto@activacapital.com

claire@steeleandholt.com

 

 

Categories: News

Tags:

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.

*  *  *  *  *

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

*  *  *  *  *

Contacts:

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

 

Categories: News

Tags:

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.”

*****

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

Categories: News

Tags:

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

Categories: News

Tags: