Monthly Archives: July 2018

ARDIAN reaffirms its support to Mademoiselle Desserts and co-arranges A €50M subordinated financing to finance its acquisition by IK Investment Partners

Ardian

Paris, July 26th 2018 – Ardian, a world-leading private investment house, today announces that it has co-arranged a €50m subordinated financing to support the acquisition of Mademoiselle Desserts by IK Investment Partners. The financing package includes a committed acquisition line to support the Group’s growth strategy.

Mademoiselle Desserts is one of the leading producers of frozen baked goods in Europe. Founded in 1984, the Group offers a wide range of high-quality and innovative products distributed to some of the largest organizations in the retail and foodservice market. Mademoiselle Desserts, which currently employs 1,300 people across nine production facilities in France, the UK and the Netherlands, holds a leading position in France and the UK due to a diversified range of quality pastries.

The Group is forecast to reach approximately €225m in sales in 2018.

Guillaume Chinardet, Head of Ardian Private Debt France and Managing Director, said: “We look forward to continue supporting the Group in this new chapter of its growth journey alongside IK Investment Partners, a valuable partner with strong expertise in the European food market. We are convinced that Mademoiselle Desserts will achieve further growth via strategic acquisitions to broaden the product portfolio and penetrate new markets.”

Gregory Pernot, Director in Ardian’s Private Debt team, added: “We’ve been working alongside Mademoiselle Desserts since November 2013, when we arranged a unitranche financing for the Group. Ever since, we have seen the strong development of Mademoiselle Desserts under the leadership of Didier Boudy and the management team, and have actively supported its strategic acquisitions of several entities in the UK and the Netherlands. This second financing with Mademoiselle Desserts emphasizes our investment approach based on long-term partnerships.“

Didier Boudy, CEO of Mademoiselle Desserts, added: “Since 2013, Ardian Private Debt has been a strategic partner for Mademoiselle Desserts’ development. Their agility and reactivity combined with their very good understanding of our industry has been totally key to complete strategic acquisitions. It was then natural to secure their participation to our next roll with IK Investment Partners.”

“We are impressed by the Group’s development in the UK, France and the Netherlands. Together with the management team, we will strive to broaden the product portfolio via targeted acquisition opportunities. Ardian has been a long-term partner of the Company, and we are delighted to see them reaffirm their support. ” said Rémi Buttiaux, Partner at IK Investment Partners and advisor to the IK VIII Fund.

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 and 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

www.ardian.com

ABOUT MADEMOISELLE DESSERTS

Mademoiselle Desserts, formerly known as Européenne des Desserts, is the French leader and one of the leading European players in the frozen bakery industry. Operating through 9 manufacturing sites in France, the UK and the Netherlands, Mademoiselle Desserts offers a large range of premium frozen industrial pastry products to its retail and foodservice customers. The Group employs a total of 1,300 people.
www.mademoiselle-desserts.com

ABOUT IK INVESTMENT PARTNERS

IK Investment Partners is a Pan-European private equity firm having raised more than €9.5 billion of capital. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies, its current portfolio being composed of 28 companies. IK mainly invests in mid-sized companies that have strong market positions and strong improvement potential.
www.ikinvest.com

LIST OF PARTIES INVOLVED

Ardian Private Debt: Guillaume Chinardet, Gregory Pernot, Gabrielle Philip
IK Investment Partners: Rémi Buttiaux, Dan Soudry, Diki Korniloff, Thibaut Richard, Guillaume Veber
Financing Legal Advisor (Ardian): De Pardieu Brocas Maffei – Yannick Le Gall, Eryk Nowakowski, Sonia Bouaffassa

PRESS CONTACTS

ARDIAN
Headland
Carl Leijonhufvud
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

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GCP Hospitality, a member of Gaw Capital Partners, expands its footprint in Europe through a joint venture with Omega Capital by acquiring Hospes Hotel Group in Spain

Gaw Capital

July 25, 2018, Hong Kong

– Real estate private equity firm Gaw Capital Partners today announced that the firm, through its European Hospitality Fund I managed by GCP Hospitality, acquired a 50% stake in Spain’s leading boutique hotel brand, Hospes Hotel Group, of which its total asset is valued at €125 million, forming a joint venture with a Spanish investment company, Omega Capital.

Hospes Hotel Group is a highly respected brand in Spain with 10 properties. The group is recognized as a highly acclaimed brand and operator within the luxury and heritage boutique hotel segment.

Each hotel has been crafted in an artisan fashion, combining elements of heritage, design, local textures and technology together.

Hospes’ luxury boutique hotels are situated in various prime locations across Spain, including Madrid, Alicante, Granada, Valencia, Mallorca, Córdoba, Seville, Cáceres and Salamanca. The properties are in close proximity to some of Spain’s most prominent historical sites, each designed by respected and renowned architects to create their own unique atmosphere and style. Their facilities, including bars and restaurants, wellness centers and spas, have received 5-star ratings.

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “We are delighted to form a joint venture with Omega Capital through our European Hospitality Fund I managed by GCP Hospitality to acquire a 50% stake in Hospes Hotel Group. Entering the Spanish market with one of Spain’s most distinguished entrepreneurs marks an important milestone for Gaw Capital Partners and its hospitality platform, GCP Hospitality, as we look to expand our presence in Europe and tap the abundant opportunities in one of the world’s most popular tourism markets. We will further expand the Hospes brand by opening more properties in tourist areas and strategic cities within Spain and Southern Europe.”

Christophe Vielle, CEO & Co-Founder of GCP Hospitality, said, “We are thrilled to expand our hotel portfolio to Europe. The acquisition of Hospes Hotel Group is a testament to GCP Hospitality’s strong track record of successfully launching and operating top-of-the-range hotels and hospitality brands. With a very positive outlook for the continent’s tourism industry, we are actively exploring ways to expand our portfolio in Europe. We will leverage the reputation of Hospes Hotel Group as well as our international network to increase the brand’s footprint.”

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Forbion Portfolio Company Replimune Successfully Completes IPO on NASDAQ

Forbion

Over $100 million raised to progress its pipeline of next-generation oncolytic immunotherapies

Company has progressed from seed financing to IPO in three years

Forbion, a leading European life science venture capital firm, today announces that its portfolio company Replimune Group, Inc. (‘Replimune’) has successful completed an initial public offering (IPO) on NASDAQ, raising over $100 million for the development of its next-generation oncolytic immunotherapies. Replimune’s stock has started trading under the ticker symbol “REPL”.

Forbion has been a longstanding supporter of Replimune’s growth and development having invested seed capital three years ago at the time of the Company’s formation. Forbion identified the potential of Replimune following its investment in BioVex Inc. and knowledge and experience of oncolytic immunotherapy. BioVex was sold to Amgen in 2011 for up to US$1 billion which delivered a significant return for Forbion. Replimune’s co-founder and current Executive Chairman Philip Astley-Sparke was the President and CEO of BioVex Inc. and is now a Venture Partner at Forbion.

Replimune is developing oncolytic immunotherapies intended to improve the direct cancer-killing effects of selective virus replication and the potency of the immune response to the tumor antigens released. The Company’s Immulytic™ technology platform is designed to maximize systemic immune activation, in particular to tumor neoantigens, through robust viral mediated immunogenic tumor cell killing and the delivery of optimal combinations of immune activating proteins to the tumor and draining lymph nodes. The approach is expected to be highly synergistic with immune checkpoint blockade and other approaches to cancer treatment.
Commenting, Sander Slootweg, Managing Partner, said:

“We are proud to have been integrally involved in Replimune’s creation and to have nurtured its growth and development over the last three years. This successful IPO and fundraising only three years after we invested seed capital recognizes the potential of the company, its technology and pipeline and will help progress the development of its next generation oncolytic immunotherapies.”

About Forbion

Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies that are active in the pharmaceutical, as well as the medical device space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 50 companies. Forbion manages well over EUR 1 billion across ten funds. Its investors include the EIF, through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also operates a joint venture with BGV, the manager of seed and early stage funds focused on Benelux and Germany. www.forbion.com

Contacts

Forbion contact:
Sander Slootweg
Managing Partner
P: +31 (0) 35 699 30 00
E: sander.slootweg@forbion.com

Media contact:
Instinctif Partners (on behalf of Forbion)
Ashley Tapp/Ambrose Fullalove
P: +44 (0) 20 7457 2020
E: forbion@instinctif.com

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DN Capital News Happeo, the all-in-one digital workplace platform has raised a late seed round of $8 Million

DN Capital

Helsinki, Finland, 07/24/2018. Finnish software startup Happeo announced today that it has raised $8M from leading international investors including DN Capital (UK/Silicon Valley), Maki.vc (Helsinki), and Vendep Capital (Helsinki). View the original press release from Happeo here: https://www.happeo.com/blog/press-release-8mil-funding

Internal Communicators in enterprise and fast-growing companies are struggling to connect a diverse workforce over locations and generations. Departmental silos, the absence of effective knowledge sharing, and an overflow of tools used to communicate and collaborate often results in low employee productivity and engagement.

The Happeo SaaS platform is solving these challenges by bringing together the software that organizations use daily into one unified platform, allowing employees not only to connect and collaborate in new ways, but also to work more efficiently. Since officially launching its platform in 2017, Happeo (formerly Universe) has been nominated as one of the most promising startups by the European Union, and today already more than 220,000 employees are working with the Happeo digital workplace.

“Traditional employee intranets are dead, because they host static and often outdated information in isolation, offering no value to the employee,” says Perttu Ojansuu, Co-Founder and CEO of Happeo. “Happeo is providing organizations with a totally integrated digital workplace, serving as a central hub for employees to access company resources, collaborate, and connect with each other. This massively improves employee experience and drives our clients’ growth.“

By integrating seamlessly with leading enterprise collaboration tools, Happeo brings together essential tools: calendar, files, conferencing, and projects, even CRM and HR-systems – in one digital workplace. The platform is enriched with knowledge sharing and social networking features directly driving engagement, productivity and an enjoyable employee experience.

UK/Silicon Valley based international venture fund, DN Capital, joins the round with Finnish investors Maki.vc and Vendep who has former success from backing companies disrupting traditional industries in SaaS. The additional capital will be used by Happeo to expand upon its rich suite of integrations, making it possible to launch Linkedin, Google Chat and Slack this quarter. The funding will also be used to expand the global presence of the company, following the opening of its Amsterdam office earlier this year.

“Happeo’s core team possesses a world-class understanding of the enterprise software market, client needs and the shortcomings of the existing tools. Happeo brings together work efficiency, information availability and company culture in a way that makes the traditional intranets and enterprise collaboration tools look and feel hopelessly cumbersome and archaic,” says Pirkka Palomäki from Maki.vc.

“We look forward to working together with Perttu, Vesa and Antero to accelerate Happeo’s growth and help one more Finnish SaaS company to conquer the world. The founding team has worked together successfully for a long time, and based on their proven track record and backed by the raised funds, the company is now ready to step up its growth,” says Hannu Kytölä from Vendep Capital.

“By bringing together enterprise CMS, social intranet and collaboration in a single platform, Happeo has created a solution that will be critical to the digital workplace of the future. We are delighted to join Maki.vc and Vendep in Happeo’s first institutional funding round,” says Steve Schlenker from DN Capital.

About Happeo

Happeo is the leading all-in-one digital workplace platform that empowers internal communicators to connect with employees in entirely new ways. The platform brings together intranet, collaboration, and social networking into one unified solution.

Large enterprises and fast-growing organizations, such as Randstad Sourceright and Groupe Chantelle, use Happeo to reach, engage, and listen to more than 220,000 employees worldwide to create a seamless employee experience.

Our mission is to accelerate growth from within for our clients. We believe business success today depends entirely on talent and a company’s ability to overcome silos. Happeo brings together a diverse workforce across generations, locations and time zones.

To learn more about Happeo’s software visit https://www.happeo.com.

About DN Capital

DN Capital is an early stage and growth capital investor focused on Seed, Series A and select Series B investments in marketplaces, fintech, SaaS, digital media, e-commerce, mobile applications and digital health companies. The firm was founded in 2000 and has operations in London, Berlin and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (Oracle), Shazam (Apple), Auto1 (Europe’s largest used car marketplace), Purplebricks (AIM:PURP) and Quandoo (Recruit). The DN Capital team bring over 75 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Find out more at www.dncapital.com.

For further information
Celia Viguier
Investor Relations
DN Capital
celia@dncapital.com

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AURELIUS acquires Ideal Shopping Direct

Aurelius Capital

Munich/London 24 July 2018 – AURELIUS Alpha Limited, a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) (“AURELIUS” or “the Group”), the listed pan-European mid-market investor, today announces its acquisition of Ideal Shopping Direct (“ISD” or “the company”), one of the UK’s leading multi-channel home shopping retailers, from Blackstone. Financial terms of the deal were not disclosed.

With over 600,000 customers and FY17 revenues of £145 mn, Ideal Shopping Direct sources, designs and sells lifestyle and crafting products to consumers via a variety of dedicated interaction channels including TV shopping channels, social media platforms, websites and live events. The company has two flagship channels, Ideal World and Create & Craft which deliver video content across both the UK and the US. ISD employs c.800 people and is headquartered in Peterborough where it has dedicated facilities for the production and transmission of its shows as well as the creation and distribution of products to customers.

Following the acquisition, AURELIUS will work alongside the company’s existing management team to implement a transformation programme focused on driving operational improvement at the business, boost its UK brand recognition and enhance the breadth and quality of its customer offering.

Tristan Nagler, UK Managing Director of AURELIUS, commented: “Ideal Shopping Direct is a dynamic company with a loyal customer base, established infrastructure and strong position in two distinct and growing markets within TV shopping; craft and general merchandise, presenting a compelling investment opportunity for Aurelius. We look forward to working alongside ISD’s experienced management team to provide the operational and financial support needed to help the business meet its potential.”

Bill Adams, CEO of ISD, said: “We are very pleased to be partnering with AURELIUS, an investor with proven experience in the craft, TV shopping and omni-channel retail space. Its operational expertise and hands-on approach will significantly benefit ISD as we seek to reposition our business and achieve our growth objectives going forward.”

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EQT enters exclusive negotiations to acquire French water and waste water management company SAUR Group

eqt

  • EQT Infrastructure enters into exclusive negotiations to acquire SAUR Group, a leading French drinking water and wastewater management company providing water infrastructure management services for municipalities under long-term contracts
  • EQT Infrastructure committed to become a responsible owner and trusted partner supporting SAUR’s sustainable growth and development – in France as well as internationally
  • Investment a milestone on EQT’s overall growth strategy and geographical expansion into the attractive French market

The EQT Infrastructure III fund (“EQT Infrastructure”) has entered exclusive negotiations to acquire Holding d’Infrastructures des Métiers de l’Environnement (“HIME”), the holding company of SAUR Group (“SAUR” or the “Group”) from its current shareholders including BNP Paribas and Groupe BPCE. BNP Paribas will invest as minority shareholder alongside EQT Infrastructure in SAUR.

SAUR, founded in 1933, is a leader in the outsourced French water supply and treatment market. The Group serves approximately 7,000 French local authorities under long-term contracts with focus on small and mid-sized municipalities. SAUR also has an international footprint with presence in Saudi Arabia, Scotland, Spain, and Poland, among others. With approximately 9,000 employees, SAUR provides service to around 13 million consumers in France and worldwide. The Group had net revenues of around EUR 1.29 billion in 2017.

As a shareholder with a long-term, industrial and responsible ownership approach, EQT Infrastructure intends to bring SAUR unique opportunities to develop further and return to sustained growth across its geographical markets.

Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure, says: “EQT has followed SAUR for many years, it is a well-positioned company in an attractive market with significant development potential. We aim to unlock this by working together with SAUR’s dedicated management and employees leveraging on the company’s proven agility, operational network and proximity to customers. EQT’s industrial network will provide complementary experiences in water infrastructure management, digitalization and sustainable development.”

Lennart Blecher, Deputy Managing Partner at EQT and Head of EQT Real Assets, continues: “We are both proud and humble about being in exclusive negotiations to become the owner of SAUR. EQT strongly believes that we will be able to add value thanks to the deep sector and operational experience among EQT’s industrial advisors. The investment will also be an important next step for EQT’s overall expansion into France, following a number of high-profile real estate acquisitions. We see it as a very interesting market with vast investment opportunities relevant for EQT’s approach of active and engaged ownership.”

Louis-Roch Burgard, Executive Chairman of SAUR, says: “This shareholding evolution is a major step which will enable us to reinforce our development perspectives in line with our Initiative 2022-ambitions. We are convinced that the combination of EQT’s expertise in infrastructure and our operator’s experience will be a key lever to contribute to the Group’s growth, both in France and abroad, and will serve the interest of all our employees. This evolution perfectly meets the Group’s willingness to carry on with their commitment to their clients, be they local authorities or consumers, to offer them an innovative local service part of a social responsibility approach.”

The transaction, which will be EQT Infrastructure’s first investment in France, will be contingent upon the standard regulatory approvals and is subject to the required Works Councils consultations. The parties have agreed not to disclose financial details related to the transaction. The transaction could be finalized by the end of 2018.

Rothschild is acting as exclusive financial advisor and Clifford Chance as legal advisor to EQT Infrastructure.

Contacts
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +49 89 255 499 505
EQT Press office +46 8 506 55 334
Brunswick Paris Benoit Grange and Hugues Boeton Tel: +33 1 53 96 83 83
Mail: eqtfrance@brunswickgroup.com

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 Saur
As a longstanding environmental services leader, SAUR serves local authorities and industrial companies in the successful implementation of development projects in water supply and treatment, environmental services (engineering, infrastructure services). SAUR worldwide presence Saudi Arabia, Scotland, Spain, Poland. 2017 key figures (excluding waste management): EUR 1.29 billion Group net revenue, 7,000 local authorities contracted, 9,000 employees and 13 million consumers in France and worldwide.

More info: www.saur.com

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Pai Partners enters exclusive discussions to acquire Asmodee Group

PAI Partners

Asmodee Group is a leading international games publisher and distributor with operations located in Europe, North America, and China. Asmodee’s best known titles, either published or distributed on behalf of key publishing partners, include Catan, Ticket to Ride, Splendor, Dobble/Spot it!, Star Wars: X-Wing, 7 Wonders and Jungle Speed. In some European countries, Asmodee also distributes trading card games such as Pokemon, Magic, Yu-Gi-Oh! Asmodee realised a turnover of 442 million in 2017, 75% of which was made outside France, its home market.

PAI intends to support the current management team in its plans to grow the business further through international expansion both organically and by acquisition.

The acquisition of Asmodee would be the first investment made by PAI Europe VII, which reached a successful final close at €5.1 billion in March 2018 after less than six months of active marketing.

Stéphane Carville, CEO of Asmodee Group, commented: “We would like to thank Eurazeo for their support over the last few years, during which we have grown to become one of the leading players in the games publishing and distribution space. We have been very impressed by the PAI team, their operational approach as well as their knowledge of the consumer goods industry globally, and we very much look forward to continuing our ascent in partnership with them.”

Gaëlle d’Engremont, Partner at PAI Partners, commented: “Asmodee represents a unique opportunity to invest in a fast-growing platform within the gaming industry, as part of PAI’s strategy to invest in attractive consumer goods industries. Stéphane and his team have an unparalleled track record in driving profitable growth both organically and through acquisitions, and we are delighted that they have chosen to partner with us. We are excited by the company’s growth prospects, which include further developing Asmodee’s position in the core hobby gaming market and successfully diversifying the group’s main brands onto other platforms. We look forward to working together to deliver on our ambitious objectives.”

The relevant employee works councils of Asmodee will be consulted in respect of the transaction and completion of the transaction will be subject to regulatory approval and other customary conditions precedent.

Media contacts

PAI Partners
Greenbrook Communications: Matthieu Roussellier / James Madsen
Tel.: +44 20 7952 2000

Asmodee Group
CICommunication : Marion Felix / Catherine Isnard
Tel +33 (0)1 47 23 90 48 –
Email: cicom@cicommunication.com

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €12.3 billion of dedicated buyout funds. Since 1994, the company has completed 68 transactions in 11 countries, representing €50 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation.
www.paipartners.com

About Asmodee Group

Asmodee Group is a leading international games publisher and distributor with operations located in Europe, North America and China. Asmodee’s best known titles, either published or distributed on behalf of key publishing partners, include Catan, Ticket to Ride, Pandemic, Dead of Winter, Splendor, Dobble/Spot it!, Star Wars: X-Wing, 7 Wonders, Dixit, Takenoko, Abyss, Timeline, Jungle Speed and The Werewolves of Miller’s Hollow. In some European countries, Asmodee also distributes trading card games such as Pokémon and Magic. Asmodee has headquarters in Guyancourt, France.
Learn more at corporate.asmodee.com.

 

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Proposed Acquisition of LCY Chemical Corp. by KKR Consortium

KKR

Shareholders to Receive TWD 56 Per Share in Cash, a 17.28% Premium to July 20 Closing Price

Existing Management Team Will Continue to Lead Company with Support from KKR

Partnership Provides Greater Access to Capital and Operational Resources to Undertake Growth Opportunities in Taiwan and Around the World

TAIPEI, Taiwan–(BUSINESS WIRE)– LCY Chemical Corp. (“LCY” or the “Company”) (TPE: 1704) and global investment firm KKR today announced the signing of a share exchange agreement for a consortium led by KKR to acquire all of the issued and outstanding shares of LCY for TWD 56 per share in cash, adjusted to include a TWD 2.90 per share dividend (rounded to the nearest TWD 0.01) (ex-dividend offer price is TWD 53.10 per share). The transaction, which has been unanimously approved by the board of directors of LCY upon the recommendation of its Audit Committee comprising independent directors, represents a total market capitalization of approximately TWD 47.8 billion (USD 1.56 billion).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180722005024/en/

 

The offer price represents a premium of 17.28% to LCY’s closing price on 20 July 2018, the last trading day prior to the transaction announcement. It also represents a premium of 19.2%, 23.0% and 24.3% over the 30-day, 90-day and 180-day average closing prices, respectively.1

Mr. TH Hong, Chairman of LCY, said, “The proposed transaction delivers meaningful and immediate value to our shareholders, while also providing greater access to capital, operational resources and the time horizon needed to execute a strategy to drive long-term, sustainable value creation. KKR is the ideal partner to help us build on our 50-year track record of producing high-quality chemical products for customers worldwide and take LCY to its next level of growth given KKR’s focus on responsible business and operational excellence. KKR’s decision to partner with us is a testament to the innovative and talented team we have built in Taiwan – and around the world – and we look forward to working with them to build an even stronger company.”

Mr. Paul Yang, Member and Head of KKR Greater China, said, “LCY is a global leader in the specialty chemical industry and has earned its place as one of Taiwan’s leading global companies. We believe that KKR’s partnership approach will enable LCY to make the necessary investments in R&D and other growth initiatives to maintain the technological capabilities, capacity and product differentiation needed to further the Company’s leadership position going forward. This is an exciting opportunity to work alongside LCY’s exceptional management and dedicated employees to help the Company take full advantage of the opportunities that lie ahead.”

Founded in 1965, LCY is a producer of specialty chemicals with a concentration on thermoplastic elastomers and performance plastics used in infrastructure, health care, household, automotive, textile and electronic products, among other diverse applications. LCY will maintain its corporate headquarters in Taipei, its existing global distribution and sales networks and its production plants in Taiwan, mainland China and the United States.

KKR is a global investment firm with over 42 years of experience partnering with management teams and helping them to create value as a long-term, patient investor. Following completion of the transaction, KKR intends to work closely with LCY’s existing management team and employees to strengthen the Company’s business platform by exploring expansion opportunities in new and existing international markets as well as penetrating new verticals, with a goal to grow and support employment in Taiwan and overseas. KKR also looks to enhance the Company’s approach to environmental, social and governance management to responsibly and sustainably grow LCY’s corporate value.

Immediately following consummation of the share swap, KKR will hold a majority and controlling interest in LCY. The KKR consortium includes participation by the Company’s current employees and certain members of the Founding Family.

KKR makes its proposed investment from its Asian Fund III. The transaction is expected to close in the fourth quarter of 2018, subject to customary closing conditions and regulatory approvals. Upon the completion of the transaction, LCY will become a private company, and its shares will no longer be traded on the Taiwan Stock Exchange. KKR and its partners are committed to supporting LCY’s global expansion and will evaluate a range of options to support the Company’s strategy, including capital market activities in Taiwan.

Baker & McKenzie is acting as legal advisor to the Company. Simpson Thacher & Bartlett and Lee & Li are acting as legal advisors to KKR and the consortium. Goldman Sachs (Asia) L.L.C. is acting as financial advisor to KKR. Goldman Sachs Bank USA has agreed to underwrite and arrange debt financing to the consortium for the share exchange transaction, subject to certain customary conditions.

About LCY Chemical Corp.

Founded in 1965, LCY CHEMICAL CORP (TWSE:1704) aims at improving the quality of life and has been in petrochemical business for more than 50 years. Product portfolios include methanol, solvents, electronic-grade chemicals, rubbers and performance plastics. For more details, visit LCY CHEMICAL CORP. website: http://www.lcygroup.com/lcy/en/.

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.

Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements about completing the proposed transaction on the terms and timetable described above, and strategic or other potential benefits of the proposed transaction. Words such as “will,” “believes,” “expects,” and “future” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and investors should not place undue reliance on such statement. These forward-looking statements speak only as of the date of this press release, and KKR and the Company do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

1 The figures set out above are based on Bloomberg data as of the last full trading day immediately prior to the date of the announced share swap.

For LCY Chemical Corp.
Charles Wei
+886 2-2763-1611
+886 983-051-488
Charles.wei@lcygroup.com
or
James Kuo
+886 2-2763-1611
+886 900-797-195
James.kuo@lcygroup.com
or
Compass PR (For LCY Chemical Corp.)
June Kuo
+886 936-140-606
june.kuo@compasspr.com.tw
or
Olivia Hsieh
+886 912-429-786
olivia.hsieh@compasspr.com.tw
or
For KKR
KKR Asia
Anita Davis
+852 3602-7335
Anita.Davis@KKR.com
or
KKR Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com
or
Sard Verbinnen & Co. (For KKR Asia)
Miles Radcliffe-Trenner
+852 3842-2200
KKR-SVC@sardverb.com

Source: KKR Consortium

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Fair Damage Control acquires Repair Concepts Group

Ufenau

Dear Investors, Pfaeffikon, June 2018

Partners and Friends of Ufenau Capital Partners,

we are pleased to announce that Fair Damage Control Holding (“FDC”) has acquired Repair Concepts.
Repair Concepts with its service centre in Rheinbach (Rhineland-Palatinate) is a strongly growing service provider for claim handling and repair services for insurance companies. The company provides its services nationwide with a focus on repair-assistance-services, on-site assessments, expert reports, document check as well as regulation for claims related to damages of properties. Repair Concepts handles around 60’000 claims per year with more than 100 employees and serves more than 120 renowned insurance companies in Germany.

After acquiring E.Via and FTS Preischel in 2016, Repair Concepts represents the third acquisition of FDC. Due to the recent acquisitions, the Group could further strengthen its market leading position in Germany. In total, FDC budgets sales of more than EUR 35 million in 2018 and employs now 250 people.
Peter Becker, Managing Director of Repair Concepts: “We are pleased to have found with FDC a partner with the profound understanding of the insurance market who supports the objectives and strategy of Repair Concepts. We see the partnership with FDC as foundation for a sustainable and long-term development of our organization.”
Hubertus Marx, CEO of FDC, adds: “I am pleased that we have succeeded in further expanding the market position of FDC in Germany with the acquisition of the well-established and renowned Repair Concepts Group. The acquisition allows us to offer to our customers an even wider range of services.”
Sincerely, your Ufenau Team

About Ufenau Capital Partners
Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.
Fair Damage Control acquires Repair Concepts Group
Ufenau Capital

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DIF Infrastructure V acquires 100% of Hospital de Vallecas S.A.

DIF

DIF Infrastructure V acquires 100% of Hospital de Vallecas S.A.

Madrid, 20 July 2018 – DIF Infrastructure V is pleased to announce the acquisition from Pralesa Concesiones and other minority shareholders of a 100% stake in Hospital de Vallecas.

The Hospital de Vallecas project consists of the construction, maintenance and operation of the non-medical services of the Infanta Leonor Hospital under an availability based DBFM scheme granted by the Community of Madrid. The hospital started operations in 2007, with the concession having a remaining life of ca. 17 years, ending in 2035.

Infanta Leonor Hospital is one of the primary hospitals in the Madrid region, with a surface area of ca. 85,000 sqm and over 200 beds, providing services to a population of over 300,000 patients.

DIF was advised by Herbert Smith Freehills (Legal), PwC (Financial), Jacobs (Technical) and Garrigues (Tax).

Fernando Moreno, Partner and Head of Spain, said: “DIF is pleased to invest in Hospital de Vallecas, a well-managed high-quality asset, and to expand its footprint in the hospital sector in Spain after acquiring a majority stake in Hospital de Majadahonda in 2015”

About DIF

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu for further information.

For more information please contact:

Barend Bloemarts
Director, Investor Relations and Business Development
Email: b.bloemarts@dif.eu

Fernando Moreno
Partner, Head of Spain
Email: f.moreno@dif.eu

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