ARDIAN agrees sale of its minority stake in Encevo S.A.

Ardian

Luxembourg, July 31st, 2018 – Ardian, a world-leading private investment house, today announces that it has agreed to sell its minority stake in Encevo S.A., a leading utility company, to China Southern Power Grid International (HK) (“CSGI HK”), wholly owned by China Southern Power Grid (“CSG”), a state-owned power grid company in China that engages in power transmission, distribution and supply business.
Encevo, which is based in Luxembourg, operates in several different energy business fields through its two subsidiaries, Creos and Enovos Luxembourg. Creos manages electricity and gas grids while Enovos Luxembourg is responsible for the sale of energy to a diversified portfolio of clients in Luxembourg and Germany. The company also holds interests in energy production assets, most notably in the renewable energy sector (wind, biogas, solar and hydro).
In July 2012, Ardian, alongside co-investors, acquired a minority stake in Encevo (formerly Enovos International) from Arcelor Mittal. It then subsequently acquired a further stake in 2015 from E.on and RWE.
Since Ardian’s investment, it has worked alongside the public shareholders of the company to help Encevo adapt its strategy and organization to reflect the new shape of European energy markets. A new strategic plan has been implemented, which included a €1bn investment program. In embracing the transition of energy markets, Encevo has increased investments in renewables and energy services, particularly in Luxembourg and Germany. Looking ahead, Encevo is interested in industrial partnerships, such as with CSG, which is based in Guangzhou.
Mathias Burghardt, member of the Executive Committee of Ardian and Head of Infrastructure, said: “Ardian developed a close partnership with the State of Luxembourg at an important moment for Encevo group. The two partners successfully developed a new vision for Encevo, which places the group at the forefront of Europe’s new energy landscape.”
Benoît Gaillochet, Managing Director Ardian Infrastructure, added: “We thank the management and the employees of Encevo as well as the Luxembourg shareholders for this fruitful collaboration. We truly believe that CSG will be an excellent industrial partner for Encevo as it looks to realize its growth ambitions.”
Hua Yang, president of CSGI HK, said: “We are delighted that we have entered into an agreement to acquire a minority stake in Encevo. CSG is a long-term industrial investor in Europe. We look forward to establishing cooperative relationships with Encevo management and Luxembourg shareholders, and we are committed to support Encevo’s development towards its strategic goals, as well as the development of its energy services for customers.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT CSG

CSG is a global leading utility company. In China, CSG engages in the investment, construction and operation of power networks in Guangdong, Guangxi, Yunnan, Guizhou and Hainan provinces. Outside China, CSG holds investments in the energy sector in Chile, Malaysia, Vietnam and Laos. CSG is promoting green and coordinated development of power grid and ensures harmony between the power grid and the environment.

INVOLVED PARTIES

ARDIAN
M&A sell side: Natixis
Legal: Arendt & Medernach
Accounting & Tax: EY
Markets: BCG
Regulation: NERA
Technical: E-BridgeCSGI
M&A sell side: JP Morgan, Deloitte
Legal: Clifford Chance
Accounting & Tax: Deloitte
Markets and Regulation: Roland Berger
Technical: Pöyry

PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk

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3i-backed Ponroy continues its buy and build strategy with acquisition of Densmore

3I

3i Group plc (“3i”) today announces that Ponroy Santé Group (“Ponroy”), a leading European company in the natural consumer healthcare industry in which 3i invested in January 2017 together with co-investor Cathay Capital, is acquiring Densmore, a natural food supplement laboratory mainly specialising in ophthalmic solutions to treat eye diseases.

Densmore was founded in 1946 and is headquartered in Monaco. Its main brand, Suveal Duo, is a medically-proven supplement designed to fight age-related macular degeneration (“AMD”), a noncurable chronic disease affecting patients’ vision. Densmore has a 17% market share in this category and its products are regarded as being amongst the most innovative in the market. In addition to Suveal Duo, Densmore offers a range of complementary products for conditions such as glaucoma (Memoptic), inflammation and dry eyes. Its products are prescribed to patients directly by ophthalmologists. Densmore has enjoyed 17% p.a. organic sales growth since 2007 and is expected to generate close to €13m of sales in 2018. Its acquisition adds a new product line to Ponroy’s offering in the pharmacy channel and will also enhance Ponroy’s female care offering through other products including gynaecological food supplements. The CEO of Densmore, Philippe Caron, will join Ponroy and continue to lead the business.

This is the second acquisition made by Ponroy with the support of 3i. In September 2017, it acquired Ersa (Aragan and Synactifs brands), a designer and distributor of premium pharmaceutical food supplements, which strengthened its presence in the pharmacy channel and in the probiotic segment. Thanks to these acquisitions, Ponroy is now the third largest player in the French food supplement pharmacy channel, and aims to replicate its successful business model in other major geographies offering significant growth potential.

Philippe Charrier, President and CEO of Ponroy, commented:

“Densmore is an innovative and fast growing company, and a great fit for Ponroy. Its natural products are backed by strong medical studies, reinforcing Ponroy’s own medical credibility. We look forward to working with Philippe Caron and his team.”

Nicolas Brodetsky, Vice President of Ponroy and Group Head of Pharmacy, added:

“Phillippe Caron is an entrepreneur and we share the same values. Beyond the already strong products, Densmore has a rich pipeline of innovation complementary to ours that Ponroy can bring to market not only in France but also through our international network of partners and subsidiaries.”

Rémi Carnimolla, Partner and Managing Director, 3i France, and Guillaume Basquin, Director, 3i France commented:

“This is an important strategic acquisition for Ponroy and fully in line with 3i’s buy-and-build strategy of helping its portfolio companies to expand. Densmore is an R&D-oriented business with an exciting innovation pipeline and has demonstrated strong financial performance over the last 10 years.” 

For further information, contact:
3i Group plc

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

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KPN Ventures leads investment in cyber security startup ZecOps

Kpn Ventures

ROTTERDAM, July 31, 2018 – Dutch corporate investment fund KPN Ventures announced today it has participated as lead investor in the $3.5m seed round of ZecOps, a cyber security startup based in San Francisco and Tel Aviv, focusing on automated threat analysis.

ZecOps seed round is supplemented by an investment from Evolution Equity Partners, a fund that specializes in cybersecurity, Plug and Play Silicon ValleyWISE VenturesArray Ventures, and respected angel investors.

ZecOps was started in July 2017 by Zuk Avraham together with his wife & co-founder, Taly Slachevsky. ZecOps is Avraham’s second entrepreneurial journey. He founded his first company, Zimperium, in 2010, where he currently serves as its Chairman of the Board. Zimperium is the leading mobile threat defense solution on the market.

ZecOps products gained high traction during its first year, while still in stealth-mode, with well-known customers from the technology, finance and telecom segments. ZecOps is working with law enforcement agencies, banks, critical infrastructure, tech, payment solutions and telcos to solve major pain points in cyber security.

“Through KPN’s cooperation with Zimperium, We have got to know Zuk as a clear thought leader in cyber security” said Herman Kienhuis, EVP and Managing Director at KPN Ventures.“With ZecOps, he is taking on a new challenge: automating security breach analysis; we see great potential in enabling more companies to learn from attacks, generate new threat intelligence and substantially improve their security.”

Michal Pechoucek, Partner at Evolution Equity Partners, adds: “Increased efficiencies gained from automation in security operations is an important area in cybersecurity where Zecops have developed cutting edge technology. We believe the attributes of the Zecops technology are unique and provide the company with a cutting-edge advantage in the global marketplace. We welcome Zecops and its team of seasoned cybersecurity professionals to our portfolio.”

“We are extremely excited to welcome ZecOps into our family.  Out of the hundreds of cybersecurity startups we analyzed this year, ZecOps stood out as one of the most exciting,” says George Damouny, Partner at Plug and Play Ventures. “With their strong team and expertise in the cybersecurity space, we have high expectations for ZecOps as they continue to revolutionize the Security Operations market.”

Following this seed round investment, ZecOps will launch its products for general availability to help organizations hunt down attackers’ mistakes effectively.

“We were surprised with the overwhelming demand for our products. It can be exceedingly difficult to innovate in a crowded market like the cyber security space – but we were able to do it effectively. Consequently, the reactions from CISOs around the globe made our efforts worthwhile,” said Mr. Avraham. “In the last year, we detected multiple APTs for a variety of businesses, a rare achievement especially for a one year old company”.

About ZecOps, Inc.
ZecOps is a stealth mode cybersecurity automation company headquartered in San Francisco, California with R&D based in Tel Aviv, Israel. ZecOps learns from attackers’ mistakes with the goal of discovering the course of action and objectives of entire campaign, burn the threat actors exploits & persistence mechanisms and increase the attacker’s campaign costs for targeting a ZecOps protected company. To contact ZecOps, visit https://www.zecops.com. For press inquiries: mail ZecOps PR at media@zecops.com

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Genstar Capital Announces Agreement to Sell Accruent to Fortive Corporation for $2.0 Billion in Cash

Record Bookings, Nine Acquisitions, and Established European Presence Over Two-Year Investment Positions Accruent as Leading Global Facilities Management Platform


SAN FRANCISCO, July 31, 2018 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the software, industrial technology, healthcare, and financial services industries, today announced the signing of a definitive agreement to sell Accruent, the world’s leading provider of physical resource management solutions, to Fortive Corporation (“Fortive”) (NYSE: FTV) for $2.0 billion.

Accruent is a global software company that helps organizations achieve superior performance by transforming how they manage their physical resources.  Accruent employs over 1,100 employees and its solutions are used by more than 10,000 global customers across a wide range of industries.  It has experienced strong international revenue growth with 20 percent of Accruent’s revenue coming from global markets, fueled by a strong business partner network spanning more than 150 countries.

“We are proud of the platform that Accruent built to unlock the market potential of Facilities Management software.  Genstar is pleased to have guided the company through strong growth and we are excited to see the continued success of Accruent as part of Fortive,” said Eli Weiss, Managing Director of Genstar.  “This transaction continues what is a very active year for Genstar as we continue to invest in compelling new platform companies and realize exceptional value from our investments.”

John Borgerding, Chief Executive Officer of Accruent, said, “We couldn’t be more excited to be a part of Fortive for the next chapter of Accruent’s growth.  We appreciate Genstar’s outstanding partnership.  Genstar has been deeply involved in defining our strategy, driving organic growth, and creating value for employees, customers, and shareholders.  Under Genstar’s watch, the company has doubled in revenue, acquired nine companies, and rapidly expanded international growth.”

Accruent was founded in 1995 by founder and chairman, Mark Friedman.  Friedman established the company’s strategy to address the second largest expense for all organizations – namely, real estate, facilities and physical assets.  Globally, organizations spend trillions of dollars on these assets, and the breadth and complexity of managing them requires software like Accruent’s to reduce mistakes and inefficiencies.  The total addressable market for these solutions has grown in excess of $7 billion.  “I am proud to have been a part of Accruent’s growth and helping customers solve mission critical problems,” added founder Mark Friedman.

Lazard served as financial advisor and Irell & Manella as lead legal counsel to Accruent.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion of assets under management and targets investments focused on targeted segments of the software, industrial technology, healthcare, and financial services industries.

###

Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334

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KKR and Williams to Acquire Discovery Midstream for $1.2 Billion

KKR

HOUSTON–(BUSINESS WIRE)– KKR today announced that it has entered into an agreement to acquire Discovery Midstream (“Discovery”) from TPG Growth for approximately $1.2 billion. KKR is acquiring the provider of natural gas and oil gathering and natural gas processing services company through a newly formed joint venture with Williams(NYSE:WMB). The transaction is being funded primarily through KKR’s energy and infrastructure funds.

Founded in 2015 and based in Dallas, Texas, Discovery operates in the southern portion of Colorado’s Denver-Julesburg Basin (“DJ Basin”). The company’s infrastructure and related facilities are strategically located across more than 250,000 dedicated acres primarily in Weld and Adams counties. The Discovery system includes both natural gas and crude oil gathering pipelines, cryogenic gas processing, liquids handling and crude oil storage. The Discovery assets include a 60 million cubic feet per day (MMcf/d) gas processing plant with an additional 200 MMcf/d plant that is fully permitted and under construction. It is expected to be in service by the end of 2018.

“We are excited to partner with Williams in the acquisition of Discovery,” said James Cunningham, Managing Director on KKR’s Energy and Infrastructure team. “The Discovery team has built a strong gathering and processing infrastructure footprint to service growing production in the DJ Basin and Williams is well known as a safe and reliable operator of large-scale G&P systems in the Rockies. This fits well with our long-term focus on partnering with top-tier operators who prioritize operational excellence and stakeholder engagement when working on premier North American midstream infrastructure assets. We look forward to supporting the continued growth of Discovery alongside management and Williams for many years to come.”

Upon close, which is subject to customary closing conditions and expected to occur in the third quarter of 2018, Discovery will be led by its existing management team and Williams’ initial economic contribution and ownership will be 40 percent of the purchase price, while KKR’s initial economic contribution and ownership will be 60 percent of the purchase price. Williams will be the operator of Discovery and will hold a majority of governance voting rights. Williams has committed to fund additional capital as required to bring its economic ownership to 50/50.

“We are pleased to partner with KKR on this outstanding acquisition opportunity,” said Alan Armstrong, Williams’ President and CEO. “As one of the premiere providers of large-scale energy infrastructure with operations across the natural gas value chain, we look forward to serving the Discovery customers in this growing basin with our industry-leading midstream services and working with KKR, whose energy and infrastructure investments and strategic partnerships are well-known and highly regarded.”

“We’re thrilled to be partnering with KKR and Williams, two leading institutions that will further support our growth in the DJ Basin. We look forward to continuing to safely deliver for our customers and the community alongside our new partners,” said Discovery CEO Steven Meisel.

Simmons acted as the lead financial adviser to KKR and Williams and Simpson Thacher & Bartlett served as legal adviser to KKR.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit and, with its strategic partners, hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside its partners’ capital and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc.(NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR Co.

About Discovery Midstream

Based in Dallas, Discovery is a full-service midstream company focused on maximizing value and providing outstanding service to producers. Discovery’s management team has more than 100 years of experience in developing grassroots projects, optimizing assets and providing related services in the major producing basins in the United States. For more information, please visit www.discoverymidstream.com.

About Williams & Williams Partners

Williams (NYSE: WMB) is a premier provider of large-scale infrastructure connecting U.S. natural gas and natural gas products to growing demand for cleaner fuel and feedstocks. Headquartered in Tulsa, Okla., Williams owns approximately 74 percent of Williams Partners L.P. (NYSE: WPZ). Williams Partners is an industry-leading, large-cap master limited partnership with operations across the natural gas value chain including gathering, processing and interstate transportation of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams Partners owns and operates more than 33,000 miles of pipelines system wide – including the nation’s largest volume and fastest growing pipeline – providing natural gas for clean-power generation, heating and industrial use. Williams Partners’ operations touch approximately 30 percent of U.S. natural gas. www.williams.com

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $13.2 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has approximately $84 billion of assets under management. For more information, visit www.tpg.com.

Media:
KKR
Kristi Huller or Cara Major, 212-750-8300
media@kkr.com

Source: KKR

News Provided by Acquire Media

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KKR sells its equity stake in Saba to Criteria Caixa

KKR

London and Madrid, 30 July 2018 – KKR, a leading global investment firm, today announces the divestment of its 18.2% equity stake in Saba Infraestructuras (“Saba”) to Criteria Caixa, Saba’s existing majority shareholder.

Headquartered in Barcelona, Saba is an industrial operator of urban mobility solutions, specializing in car park management. The business employs more than 1,500 people across Europe and Latin America, and generated revenues of €213m and EBITDA of €100m in 2017.

KKR originally acquired its equity stake in Saba through two transactions in 2011 and 2012, and has worked closely with other shareholders Criteria, Torreal and Proa and with Saba’s management team to help the business transform its operations and achieve its growth objectives. Since its investment, KKR has supported Saba’s international growth through expansion into Portugal, Italy, and Chile, and has helped Saba exit its logistics parks businesses to focus on winning and extending contracts in its car parking business.

Saba has also been supported by specific expertise from KKR Capstone and KKR Capital Markets, who helped Saba deliver cost efficiencies and optimise its capital structure to provide a firm foundation for future growth.

Tara Davies, Member and Head of European Infrastructure at KKR, said “We are delighted to have contributed to reinforcing Saba’s leading position in the sector. The business has transformed since 2011 and we are confident that it is well-positioned for continued strong growth in the future.”

Alejo Vidal-Quadras, Director at KKR and Head of the Madrid office, said “KKR has leveraged the full strength of its platform and capability to support Saba over the past years, demonstrated by the strength of its recent performance. The partnership with Saba builds on KKR’s track record of supporting leading Spanish businesses with their operations and growth strategy.”

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media Contacts

UK / International
Alastair Elwen
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Spain Javier Curtichs
Tinkle
Phone: +34 91 702 10 10
Email: jcurtichs@tinkle.es

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BDC exits Acteon

Bridgepoint

The family investment holding company, DENTRESSANGLE has announced that it is in exclusive discussions with BRIDGEPOINT DEVELOPMENT CAPITAL (BDC), the SMid-Cap business of BRIDGEPOINT, to acquire a majority stake in ACTEON Group, a French medtech company specialized in high-technology dental and medical equipment.

ACTEON designs and manufactures high-technology equipment and consumables for the dental sector as well as medical equipment. ACTEON is globally renowned in the field of dental imaging and is a global leader in intraoral cameras and high-intensity ultrasound (piezosurgery), a non-invasive and non-traumatic surgical technique used notably in implantology.

ACTEON, headquartered in Mérignac, France, employs 850 people across 5 plants in Europe, saw a strong increase in its turnover over the last 3 years, rising from €119 million in 2014 to €162 million in 2017. The group generates 85% of its sales outside France, its main markets are USA, China, Spain, the Middle East and Japan.

DENTRESSANGLE will bring its entrepreneurial culture to ACTEON in order to strengthen its position as an indispensable partner for dental surgeons around the world. DENTRESSANGLE wants to accelerate the development of ACTEON through increased R&D activity, expanding its global reach and implementing an external growth strategy.

Thierry Coloigner, Managing Partner at DENTRESSANGLE Mid & Large Cap said: “ACTEON fits seamlessly into DENTRESSANGLE’s investment strategy: a highly global company, with solid positions in the burgeoning dental care industry, a very strong reputation and a high-growth profile. We’re very pleased to be supporting Marie-Laure Pochon and her teams. Marie-Laure Pochon is a talented leader whose great entrepreneurial energy fits perfectly with the culture and values of the family investment holding company DENTRESSANGLE.”

Marie-Laure Pochon, CEO of ACTEON added: “After the intense work carried out together with the Bridgepoint teams to breathe new life back into the business, over the past few years ACTEON has rediscovered the road to growth. The timing of DENTRESSANGLE’s equity participation in ACTEON coincides perfectly with the growth acceleration phase in which we are entering. We’re pleased to be able to rely on a majority shareholder with such a strong entrepreneurial culture to support our strategy, consolidating the company’s global leadership in the field of dental piezosurgery and imaging, with an ever more innovative and digital range of products for dental practices.”

Olivier Nemsguern, Partner of BRIDGEPOINT DEVELOPMENT CAPITAL in France continued: “Under the guidance of its management team and with the support of Bridgepoint, Acteon has worked intensively to re-energise its business and rationalise its production facilities, and has completed two acquisitions. As a result, the company has developed rapidly, consolidating its leadership role in the field of dental equipment, as well as positioning itself as a global player in dental imagery and significantly growing its international business. We believe that ACTEON is now ideally placed to continue growing and developing internationally.”

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EQT to sell offshore communication infrastructure provider Tampnet

eqt

  • EQT Infrastructure to sell offshore communication infrastructure provider Tampnet, owner and operator of the world’s largest offshore fiber-backed communication infrastructure network, to 3i Infrastructure plc and ATP
  • During EQT ownership, Tampnet has grown significantly with revenues and EBITDA increasing more than threefold, the number of employees increasing twentyfold, while at the same time successfully closing and integrating strategic acquisitions and investing in offshore communication infrastructure within existing and new offshore regions
  • Network infrastructure expansion achieved with more than 1,700km of fiber and over 60 4G/LTE base stations added to the network across multiple countries and offshore regions, delivering high capacity services and enabling digitization of the oil&gas and offshore industries

The EQT Infrastructure I and EQT Infrastructure II funds (together “EQT Infrastructure”) have entered into a definitive agreement to sell Tampnet AS (“Tampnet”) to 3i Infrastructure plc, a listed long-term investor in infrastructure businesses and assets, and ATP, Denmark’s largest pension provider.

Tampnet was acquired by EQT Infrastructure in November 2012 and is the only independent owner, operator and provider of high capacity, low latency offshore communication infrastructure. The strategy has revolved around investing to drive development of the offshore fiber-backed communication infrastructure network and roll-out new low latency wireless communication (4G/LTE) to enable digitization and remote operations of the oil and gas industry and expand Tampnet’s business model geographically.

Per Helge Svensson, CEO of Tampnet, comments: “Together with EQT, Tampnet has been able to invest significantly to build a world-class organization while expanding its offshore infrastructure communication network into new geographies. We continue to see strong demand for our services, largely driven by the digitization of the oil and gas industry and the essentiality of robust communication infrastructure, and look forward to entering the next phase of growth together with our new owners.”

Masoud Homayoun, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, adds: “Since 2012, Tampnet has undergone an extraordinary transformation to become the largest global independent owner and operator of offshore fiber-backed communication infrastructure. Management and the entire Tampnet team have done a fantastic job. With the ever-increasing demand for connectivity and data bandwidth driven by digitization in the offshore industry, Tampnet continues to be well positioned to grow and serve its customers with superior services.”

During EQT Infrastructure´s ownership, Tampnet successfully entered its second offshore region in the Gulf of Mexico and expanded its existing network in the North Sea into several new offshore areas. Several new services were launched, and three strategic add-ons acquisitions were successfully completed and integrated. With these initiatives, Tampnet has grown more than threefold in revenues and EBITDA from 2012 to 2018.

The sale is conditional on customary approvals from governmental and regulatory bodies in several jurisdictions, including the Federal Communications Commission in the US, and is expected to close in 2019.

EQT Infrastructure has been advised by Citigroup Inc. (M&A), Advokatfirmaet Selmer AS and Vinson & Elkins LLP (Legal).

Contacts
Masoud Homayoun, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +46 8 506 55 348
EQT Press Contact, +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 Tampnet
Tampnet is the only independent supplier of high capacity and low latency communication to offshore installations in the North Sea and the Gulf of Mexico. The company operates the world’s largest offshore fiber-backed communication infrastructure network, serving more than 300 oil and gas platforms, units, FPSO’s and exploration rigs.

More info: www.tampnet.com

About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company’s market focus is on economic infrastructure and greenfield projects in developed economies, principally in Europe, investing in operating businesses and projects which generate long-term yield and capital growth.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.

More info: www.3i-infrastructure.com

About ATP Group
ATP is Denmark’s largest pension and social security provider and one of Europe’s largest pension providers, with more than €100 billion assets under management invested in bonds, equities, real estate and infrastructure assets, among others. In recent years, ATP has made significant investments in vital infrastructure such as the Copenhagen Airport, the renewable energy company DONG Energy, now Orsted as well as the telecommunication company TDC.

ATP also administers key welfare benefits and schemes on behalf of the Danish state, the local authorities in Denmark and the social partners. ATP is the largest administration provider in the Nordic countries, managing two thirds of welfare benefits disbursed in Denmark.

More info: https://www.atp.dk/

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KKR and Urban Exposure partner to provide development lending in the UK

KKR

London, 27 July 2018 – KKR, a leading global investment firm, and Urban Exposure, a leading UK residential development finance provider, today announce that they have launched a Joint Venture (“JV”) to focus on financing mainstream housing throughout the UK, with an initial size of £165m.

The JV will leverage Urban Exposure’s expertise in originating, executing and managing development loans in the residential market, focusing on the significant opportunity in mainstream housing throughout the UK. The JV will draw on this deep local market knowledge, which, combined with KKR’s significant financial and operational expertise, will help drive continued growth and scale of the loan portfolio and build its position as a leading development finance provider.

The JV will take advantage of the attractive fundamentals of development finance, whilst meeting a clear need for housing development in the context of increasing mainstream housing supply in the UK.

Varun Khanna, Director at KKR Credit, said: “KKR is excited to partner with Urban Exposure, working closely with management to find opportunities to create value in an evolving UK residential property market. The strength of our platform, outstanding management team and favorable market fundamentals will enable us to support SME developers in building affordable housing for the benefit of the UK.”

Sundeep Lakhtaria, Partner at Urban Exposure said: “We are thrilled to be working with KKR, a best-in-class private equity firm on this joint venture. Urban Exposure has considerable experience in managing third party funds through a long history of joint ventures and syndicated transactions. We aim to leverage this strength in the asset management business through strategic and collaborative relationships such as this joint venture with KKR.”

Commenting, Randeesh Sandhu, Chief Executive of Urban Exposure said: “We are pleased to have closed this joint venture, which is a continuation of our strategy to grow our third-party asset management business whilst also continuing to deploy our balance sheet lending funds. The scale of the venture means we can offer further significant support to SME developers as they seek funding for mainstream housing projects across the UK. We believe the venture will demonstrate our ability to deliver shareholder value by combining our experience with KKR’s significant financial and operational expertise.”

KKR’s investment is being made through its Credit funds, which currently have assets under management of $60.7bn as of 30 June 2018.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Urban Exposure
Urban Exposure plc is a specialist residential development finance and asset management company that has been formed to provide finance for UK real estate development loans. The Company focuses on two main revenue streams: interest and fees generated on principal lending from its own balance sheet; and asset management income generated from managing and servicing real estate development loans financed by third parties. For additional information please visit Urban Exposures website: www.urbanexposureuk.com/ and on twitter @UrbanExposureuk, Linkedin: www.linkedin.com/company/urban-exposure/ and Facebook: www.facebook.com/UrbanExposureUK/

Media Contacts
KKR

Alastair Elwen/Shiv Talwar
Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Urban Exposure
Barnaby Fry/Charlie Barker/Sophia Samaras
MHP Communications
Phone: +44 (0) 20 3128 8100
Email: urbanexposure@mhpc.com

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KKR to Acquire The Bay Club Company

KKR

Landmark California company bridges gap between fitness and hospitality

NEW YORK & SAN FRANCISCO–(BUSINESS WIRE)– KKR, a leading global investment firm, and The Bay Club Company (“Bay Club”), a premier active lifestyle and hospitality company, today announced the signing of a definitive agreement under which KKR will acquire Bay Club from York Capital Management and minority investors, including JMA Ventures and Roxborough Group. Financial details of the transaction were not disclosed.

Founded in 1977, Bay Club operates a collection of active lifestyle campuses, welcoming more than 50,000 members throughout California. The clubs are designed with innovative amenities to support the company’s focus on Fitness, Sports, Family and Hospitality.

Bay Club is recognized as the pioneer of the urban sports resort. Over the past several years, Bay Club has assembled an experienced management team—a blend of fitness, hospitality, technology, and finance veterans. Under the direction of this team, Bay Club was given the opportunity to evolve beyond the fitness industry. As a result, the Company entered the realm of hospitality by grouping complementary properties into campuses and offering its members a range of high-end lifestyle amenities typically only found at country clubs and luxury resorts.

“At Bay Club, we are proud to have created California’s leading active lifestyle community. In partnering with KKR, we are excited to build even further on what we’ve accomplished thus far and bring our unique offering to even more communities across the country,” said Matthew Stevens, President and CEO of Bay Club.

“Bay Club’s pioneering and differentiated model is one of the few scaled platforms in a large and highly fragmented health and wellness industry, where members can find options that meet all of their – and their families’ – needs,” said Nate Taylor, KKR Member and Head of KKR’s Americas Consumer Retail team. “We’re thrilled to be partnering with Matthew and the rest of Bay Club’s management team.”

KKR is making the investment through separately managed accounts and its balance sheet.

Bay Club is being advised by Morgan Stanley & Co. LLC as lead financial advisor, North Point Advisors LLC as co-financial advisor, and Skadden, Arps, Slate, Meagher & Flom and Brownstein Hyatt Farber Schreck, LLP as legal advisors. Simpson Thacher & Bartlett is serving as legal advisor to KKR.

About Bay Club
Headquartered in San Francisco, California, The Bay Club Company is an active lifestyle and hospitality company with a network of experiential campuses that welcome more than 50,000 members. The company operates across seven California campuses in the San Francisco, San Jose, Los Angeles and San Diego markets, employing more than 4,000 people. For more information on The Bay Club Company, please visit BayClubs.com or its blog, OneLombard.com. The Bay Club Company is also on Facebook and Instagram.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About York Capital Management
York Capital Management is a global private investment firm that was established in 1991. The firm manages approximately $18 billion in assets across public and private investment strategies, including its private equity platform, the York Special Opportunities Fund, which owns Bay Club. York Capital employs approximately 60 investment professionals and 200 total employees globally, located primarily in New York, London, and Hong Kong.

Media:
Bay Club:
Annie Appel, 415-901-9351
annie.appel@bayclubs.com
or
KKR:
Kristi Huller or Cara Major, 212-750-8300
media@kkr.com
or
York Capital Management:
Gasthalter & Co. for York Capital Management
Nathaniel Garnick/Kevin Fitzgerald, 212-257-4170
York@gasthalter.com

Source: KKR

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