Port operations, the forest industry and the energy sector form a close-knit union in Kymenlaakso. In the coming years, the clusters’ investments will rise to even hundreds of millions of euros. The EUR 100 million LNG terminal being built in Hamina is Wärtsilä’s and its partners’ investment in new energy technology.
The ports of Kotka and Hamina merged their operations seven years ago. This strengthened HaminaKotka’s position as Finland’s largest general port, and now 18 per cent of Finnish exports of goods pass through the port.
Nearly 17 million tonnes of goods leave from or arrive in HaminaKotka this year. The forest industry accounts for approximately 40 per cent of this.
After a long time, investments are also increasing. According to Kimmo Naski, CEO of the Port of HaminaKotka, investments started two years ago.
“At the moment, the ongoing projects include the construction of the largest pulp centre in the Nordic countries in Mussalo, Kotka, and the giant module and LNG projects in Hamina. There is also the Nord Stream 2 gas pipeline project under way in Mussalo, with HaminaKotka as its central port,” says Naski.
The total value of all the investments approaches EUR 200 million. Markus Laakkonen, Finnvera’s Regional Director of Southern Finland, speaks about the rise of traditional industry in Kymenlaakso.
“Even ten years ago, the atmosphere was completely different, with paper mills being closed down. The forest industry has undergone a major transformation. UPM is currently planning to build a new biorefinery in Kotka. Upon realisation, it would be a billion-class project,” notes Laakkonen.
A close-knit network of enterprises has emerged around the Port of HaminaKotka, consisting of enterprises operating in the forest industry, the chemical industry and the energy sector as well as small-scale industry and subcontracting chains.
Merely in the port area, there are approximately 170 enterprises, and the cluster employs, directly and indirectly, 7,000 people. When the forest industry is included, the impact on employment multiplies.
“Subcontracting enterprises have many investment projects under way. Now it’s time to replace machinery and equipment. In addition, the number of transfers of ownership is increasing,” says Laakkonen.
Getting the LNG infrastructure in order
During the past few years, LNG, or liquefied natural gas, has adopted a more prominent role especially in ship traffic. The main owners of the LNG terminal being built in Hamina are Hamina Energy Ltd and the Estonian enterprise Alexela. The terminal supplier Wärtsilä is a minority investor.
Tuomas Haapakoski, Director, Financial Services at Wärtsilä, says that one of the background factors for the popularity of LNG is the fact that emission limits are becoming stricter. A global sulphur limit will enter into force in ship traffic in 2020.
“LNG is also linked with electricity generation and consequently with Wärtsilä’s gas power plants as LNG is storable energy. The role of gas power plants is changing as the share of renewable energy, such as solar and wind power, increases in electricity generation. Renewable energy needs to be complemented with flexible load following power that can be taken into use quickly, using cleanly burning natural gas,” comments Haapakoski.
According to Haapakoski, the terminal includes a 30,000-cubic-metre storage tank where liquefied natural gas is received from a ship. From the terminal, LNG is delivered to clients with lorries and ships or re-gasified and delivered via the natural gas network.
The total terminal investment amounts to approximately EUR 100 million. The Hamina terminal is Wärtsilä’s third LNG terminal project in Finland. The other two are in Tornio and Raahe.
“It’s all about building the basic LNG infrastructure in Finland, a project we want to be involved in. The terminals contribute to Wärtsilä’s strategy of making maritime traffic more environmentally friendly as LNG is low-emission ship fuel. We developed multi-fuel ship engines ages ago, but LNG distribution networks are only just developing,” explains Haapakoski.
The Export Credit Guarantee Act amended – investments in Finland
In financing the terminal investment, Wärtsilä and other owners took advantage of the amendment to the Export Credit Guarantee Act four years ago.
Before the legislative amendment, Finnvera could support Finnish enterprises by granting export credit guarantees and export credits for foreign projects. Now the export credit guarantee can also be granted for domestic projects if the investment promotes exports.
“I believe that this is useful for many enterprises. After all, foreign competitors offer export financing solutions also for projects to be carried out in Finland. It would have been a bad situation indeed if the selection of a domestic supplier had ruled out the opportunity of using export financing for investments in Finland,” notes Haapakoski.
Finnvera’s financial instrument for foreign investments goes by the name of the Buyer Credit Guarantee. It is a security that is granted for a credit received by the buyer and that protects the creditor, usually the bank, from risks related to repayment. Arranging the financing for the buyer helps the Finnish export company to secure the deal.
A similar guarantee arrangement for domestic investments is known as a Finance Guarantee.
“The Hamina terminal is an investment that promotes exports, in particular as LNG becomes more common as ship fuel. HaminaKotka is one of the largest ports in Finland, and it has many export companies as its clients,” says Riitta Leppäniemi, Finnvera’s Finance Manager.
According to Leppäniemi, there have been few financing projects of this kind in the last four years. The best-known of these is the bioproduct mill built in Äänekoski that was a billion-class investment.
Caption: This LNG tanker represents modern maritime traffic. The Hamina terminal is Wärtsilä’s third LNG terminal project in Finland. The other two are in Tornio and Raahe. “It’s all about building the basic LNG infrastructure in Finland, a project we want to be involved in” says Wärtsilä’s Director of Financial Services Tuomas Haapakoski.
Paris, November 19th, 2018
EFESO Consulting, Eurazeo PME and Argos Wityu announce the signing of an agreement for the acquisition
of EFESO Consulting by Eurazeo PME, alongside management – Eurazeo PME will hold approximately 70%
of the capital. The transaction is expected to close in January 2019, after the release from suspensive
conditions and approval from competition authorities. Eurazeo PME’s investment will total approximately
€56M, including equity and quasi-equity instruments.
The shared ambition of Eurazeo PME and the management team is to accelerate the growth of EFESO
Consulting by reinforcing the company’s positioning as the world-leading specialist in operational
excellence consulting, particularly through accretive acquisitions and by deploying its renewed digital
offering. For the execution of this strategy, EFESO Consulting will have full access to Eurazeo PME’s
international network, which includes Eurazeo’s offices in the US, China, and Brazil; international
partnerships, most notably in Germany; and corporate functions (including for acquisition integration,
digital, Corporate and Social Responsibility).
Luca Lecchi and Bruno Machiels will become Co-CEOs of EFESO Consulting. Filippo Mantegazza, Founder
and President who has led the Group for thirty years, will continue to actively accompany EFESO Consulting
and will become a member of the supervisory board.
Merged with Solving International in 2007, EFESO Consulting is a consulting firm addressinoperational
agility and excellence, with an international, blue-chip customer base. The strong industrial expertise and
seniority of the Group’s 400 consultants, based in 17 offices globally, make EFESO Consulting a player of
reference within operational excellence consulting. Its clients include more than 50 Fortune 500 companies
within a wide range of sectors, who have longstanding customer relationships. The company has a strong
global presence: over 80% of 2017 sales outside of France and EFESO Consulting operates in 4 countries
per client on average. With 2017 revenue of €71M, EFESO Consulting has successfully integrated seven
acquisitions over the past six years, which has allowed the group to solidify its positioning most notably in
Italy, the Netherlands, Egypt, India, Belgium, and Ireland, as well as adding competencies in new
adjacencies and subsectors.
Pierre Meignen, Managing Director and Member of Eurazeo PME’s Management Board, declared: “We
are very enthusiastic about EFESO Consulting’s market positioning and the strong reputation of both the
company and its management team. The goals of the Group correspond perfectly with the ambition of
Eurazeo PME: to accelerate the development of a solid company in its international development”.
Filippo Mantegazza, Chief Executive Officer of EFESO Consulting: “We are closing an important phase of
our development in which, with the support of Argos Wityu, we have been able to build a leadership position
in operations consulting and design a new Strategy and a new Organization. Today we are delighted to
begin a new adventure with Eurazeo PME and we strongly believe that with the Eurazeo Team, and under
the guidance of Bruno and Luca, we will be able to accelerate our build-up strategy and focus on developing
our asset-based digital consulting model to strengthen our position and to conquer new territories in the
changing consulting market”.
Luca Lecchi et Bruno Machiels, co-CEO of EFESO Consulting: “Following the successful progression of the
business alongside Argos Wityu, we are pleased to embark on a new phase of development in partnership
with Eurazeo PME. We value Eurazeo’s approach and capacity to understand the challenges of our sector
and appreciate the strengths of our goals for the business. We are confident that Eurazeo is well-suited to
accompany EFESO, its associates and collaborators to accelerate our growth, taking advantage of and
reinforcing the quality and impact of EFESO’s competencies and innovative digital solutions”.
Louis Godron, President of the executive board of Argos Wityu: “We became shareholders of EFESO
Consulting alongside management in 2010, to reinforce their financial structure and accelerate growth. We
have accomplished these goals, with a 50% increase of sales over our hold. In the midst of the evolution of
the consulting industry, EFESO Consulting, led by a high-quality management team and our accompaniment
at their side, has established itself as a steadfast partner for its clients: 90% of EFESO’s principal clients
continue to work with the company each year in order to accelerate their progress. The recent classification
of EFESO Consulting as the 5th cabinet globally in operational excellence exemplifies this progress”.
About Argos Wityu
Argos Wityu is an independent private-equity group with offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan
and Paris. Since its creation in 1989, the group has invested in more than 75 mid-sized companies (Enterprise Value
ranging from €25M to €200M). Its majority ownership investments range between €10M and €100M.
With €1Bn under management, the group develops a unique investment strategy focusing on business transformation
and growth, instead of financial leverage, and on bringing solutions to complex business and shareholding situations.
For further information: http://argos.wityu.fund
About Eurazeo PME
A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and deployed
through a CSR (Corporate Social Responsibility) policy.
Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following
companies: 2RH, Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK
Direct Group, Orolia, Smile, In’Tech Medical and Vitaprotech. These companies are solidly established within their
market and driven by experienced management teams.
EURAZEO PME CONTACT PRESSE CONTACT
Marks KKR’s Third U.S. Industrials Middle-Market Deal This Year
COMMERCE CITY, Colo. & NEW YORK–(BUSINESS WIRE)–Nov. 19, 2018– Global investment firm KKR has entered into an agreement to acquire GeoStabilization International® (“GSI” or the “Company”), a leading provider of geotechnical maintenance services for critical infrastructure across the United States and Canada, from CAI Capital Partners (“CAI”). This transaction marks KKR’s third acquisition of a middle-market business in the industrials sector this year. The transaction, the financial details of which were not disclosed, is being funded through KKR’s Americas XII Fund.
GSI is a leading provider of landslide repair and rockfall mitigation services in the United States and Canada, developing and implementing innovative solutions that remediate geohazards in order to restore the safe operability of impacted infrastructure. The Company has established a strong reputation for its ability to serve as a partner of choice due to its national scale, as well as its integrated design, engineering, and execution capabilities. GSI focuses solely on its core mission of geohazard mitigation, with a passion across all its teammates for developing and installing proprietary solutions that protect people and infrastructure from the dangers of geohazards. Due to GSI’s unique focus, the Company is an innovation leader in its approach of using integrated teams of geologists, geotechnical engineers, and remediation technicians who work hand in hand leveraging proprietary and patented GSI technologies including their Soil Nail Launcher, Biowall System, ScourMicropiles, and SuperNails.
“We are thrilled to work with GSI and its leading management team to build upon the Company’s track record of excellent service in improving the safety of our infrastructure as GSI enters this new chapter,” said Pete Stavros, Member of KKR and Head of KKR’s Industrials investment team. “We have been particularly impressed by GSI’s long track record of strong organic growth, which we attribute to the Company’s innovative technology offerings, focus on customer service and responsiveness, and strong leadership under CEO Colby Barrett and his team. Given the importance of GSI’s many employees to the Company’s success, in partnership with Colby, we plan to implement a broad-based employee ownership and engagement model at GSI, similar to what we have done at our other industrials portfolio companies.”
Colby Barrett, GSI CEO, said, “We are very excited to work with KKR as we enter this new phase of our growth. KKR shares our vision for a strong, employee-focused culture, our relentless focus on safety, and our enthusiasm to invest in innovation to deepen our service capabilities and even better serve our customers across markets. We would also like to thank CAI for the support they have provided, which has helped us to build this current foundation upon which we will continue growing.”
Over the past seven years, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The cornerstone of the strategy has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return directly alongside KKR. KKR also supports employee engagement by investing in training across multiple functional areas, driving improvements in worker safety and by partnering with the workforce to give back in the community.
This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018. Fully committed financing has been led by lead arrangers UBS Securities LLC and KKR Capital Markets. KKR was advised in the transaction by Kirkland & Ellis LLP. GSI and CAI were advised by William Blair and Perkins Coie LLP.
About GeoStabilization International®
Founded in 2002, GSI is a leading provider of complex geotechnical maintenance services for critical infrastructure across the U.S. and Canada. The company develops and implements innovative solutions that protect from dangers associated with geohazards that have either caused, or have the potential to cause, catastrophic infrastructure failures and significant economic disruption. For more information, please visit www.geostabilization.com.
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 partners 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.
For more information about KKR’s Industrials team and the employee engagement model please visit the KKR Industrials page on LinkedIn, @KKR_Industrials on Twitter and KKR Industrials on YouTube.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian lower middle market. Over three decades, CAI has invested C$1.4 billion into companies across North America. For additional information about CAI, please visit www.caifunds.com.
Source: KKR
Media
KKR
Kristi Huller or Samantha Norquist, 212-750-8300
media@kkr.com
CVC to acquire 20% of European leader in cash-free services for transportation, toll and further mobility services.
CVC Capital Partners Fund VII (“CVC”) today signed an agreement to acquire a 20-percent stake in DKV Mobility Services Group (“DKV”). The family shareholders, who are currently the sole owners of the company, will remain majority shareholders with an 80-percent stake following the closing of the transaction. The parties have agreed not to disclose the purchase price. The transaction is subject to the customary approval process by the relevant regulatory authorities. Closing is expected for the first quarter of 2019.
DKV is a European leader in cash-free services en route for commercial goods and passenger transportation, toll and further mobility services. To its 170,000 customers in more than 40 European countries, the company offers the industry’s largest supply network with more than 72,000 acceptance points. Throughout Europe, DKV generated sales of 7.2 billion Euros in 2017 and its workforce consists of about 1,000 employees. Since its incorporation in 1934, DKV has become a leading, award-winning mobility services provider with over 3.1 million fuel cards and on-board units in circulation.
CVC will support the company in accelerating its successful growth strategy in close cooperation with the majority owners and management. Strategic priorities will include the further digitalisation of DKV’s business model and the extension of its service offering. Going forward, DKV will extensively benefit from CVC’s entrepreneurial expertise and large international network.
In the past years, CVC has partnered with numerous family entrepreneurs and founders, with the CVC Funds investing in their companies. CVC Funds’ portfolio in Germany impressively proves this approach: The founders and family shareholders of Douglas and Tipico are still co-invested in the companies. Recently, CVC has engaged in a strategic partnership with the Messer family, in order to create a globally leading specialist for industrial gases.
UniCredit and Commerzbank serve as financial advisors to family shareholder, Taylor Wessing as legal counsel. Royal Bank of Canada is mandated as financial advisor to CVC, while GÖRG serves as CVC’s legal counsel.
The stretch from Venjar to Eidsvoll North is nine kilometers and comprises about four kilometers of new track parallel to existing track, and five kilometers of new double track. NJD will be responsible for the works related to track, contact lead, electro, signal and power supply.
Acting CEO, Jan Erik Aas comments: “The contract Venjar – Eidsvoll North will give NJD an all-time-high order back log, reason for continued optimism and a good foundation for achieving our ambitious growth targets.”
Camel-IDS, a Brussels-based company developing cancer-targeted radiopharmaceuticals today announced the completion of a series-A financing round, whereby the company secured funding of EUR 37 million. Gimv, who leads this round together with V-Bio Ventures, invests EUR 6 million. They are joined by HealthCap, Novo Seeds, Pontifax and BioMedPartners. This financing, which is one of the larger rounds of a European early-stage life sciences company, will enable Camel-IDS to run a phase Ib/II trial with its lead program targeting brain metastatic breast cancer, while further progressing and broadening its preclinical pipeline.
Camel-IDS (www.camel-ids.com), which was founded in 2014 as a spin-off from Vrije Universiteit Brussel (VUB), develops novel radiopharmaceuticals, using camelid domain antibodies linked to radionuclides. Breast cancer patients with tumors that overexpress HER2, a growth-promoting protein, can benefit from effective targeted treatments today. However, they have a poor prognosis when the cancer progresses towards the brain. Camel-IDS’ lead program shall be used to effectively irradiate such brain lesions while sparing healthy tissue. This is based on its unique technology platform that leverages the favourable tissue distribution of camelid derived single domain antibodies linked to radionuclides.
Karl Naegler, Partner in Gimv’s Health & Care platform, adds: ‘From early on in our discussions, the renowned expertise of the Camel-IDS’ team in radio-immunotherapy became clear, with Prof. Tony Lahoutte bringing exceptional knowledge to the table. Together with Ruth Devenyns as CEO, an industry veteran of the European biotech landscape and successful entrepreneur, the company is well positioned to move up to the next level.’
This investment marks Gimv’s 4th investment in the life sciences, medtech and healthcare sector this year, thus further underpinning Gimv’s position as one of the most active European investors in the healthcare industry. Moreover, this brings the total number of portfolio companies in the Health & Care investment platform to no less than 21.
For further information, we refer to the company’s press release in attachment.
Fortitude Re Launches Brand
NEW YORK – American International Group, Inc. (NYSE: AIG) and The Carlyle Group (NASDAQ: CG) announced today that Carlyle completed its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re). The transaction was first announced on August 1, 2018, and closed following receipt of regulatory approvals and satisfaction of other customary closing conditions.
Fortitude Re’s new name represents the company’s focus on and expertise in managing long-dated, complex risks. Fortitude Re has also launched its website, http://www.Fortitude-re.com, which provides more information about the organization and its leadership.
James Bracken, Chief Executive Officer of Fortitude Re, said, “We are hard at work building Fortitude Re for long-term success. The closing of Carlyle’s investment and brand launch are two key milestones on that journey.”
Brian Schreiber, Managing Director and Co-Head of Carlyle Global Financial Services Partners, said, “We look forward to working with our partners at AIG and Fortitude Re to grow the business and extend Carlyle’s asset management platform.”
* * * * *
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 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 1,625 people in 31 offices across six continents.
AIG Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
The Carlyle Group Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, contingencies, our distribution policy, and other non-historical statements. Such forward-looking statements are subject to various risks, uncertainties, assumptions and other important factors that could cause actual outcomes or results to differ materially from those indicated in these statements including, but not limited to, those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Contacts:
AIG
Investors: Liz Werner; +1-212-770-7074; elizabeth.werner@aig.com
Media: Daniel O’Donnell; +1-212-770-3141; daniel.odonnell@aig.com
The Carlyle Group
Investors: Daniel Harris; +1-212-813-4527; daniel.harris@carlyle.com Media: Christa Zipf; +1-212-813-4578; christa.zipf@carlyle.com
# # #
Utrecht (The Netherlands), Cambridge (United States) – Respiratory device producer Vapotherm, Inc. announced its Initial Public Offering and listing on the NYSE exchange. Shares in the IPO are issued to institutional investors in the US and Europe, raising gross proceeds of $56 million. The offering was significantly oversubscribed. The total market capitalisation of Vapotherm will be $244 million at the introduction price and shares will trade under the ticker symbol VAPO.
The new funds enable Vapotherm to continue ramping sales of its Hi-VNI® technology in the US and Europe. Vapotherm’s Hi-VNI® treats patients in respiratory distress in the neo-natal intensive care unit (ICU), the adult ICU, the emergency department, post-acute care and for patients in hospice. The technology has been proven equivalent to the gold standard of non-invasive ventilation, however can be delivered without the need for a mask, providing patients with more comfort and flexibility in their care.
In addition to ramping sales with existing products, Vapotherm will use proceeds from the IPO to pursue an aggressive product development program which includes products which automate the delivery of oxygen based on feedback from a patient’s oxygen levels; and a portable device which has the potential to be used in expanded clinical settings, including the home.
Gilde Healthcare acted as lead investor in the Series B financing for Vapotherm and will remain represented on the board of Vapotherm post listing. During Gilde’s investment period Vapotherm tripled US and International revenues, established a highly specialized direct sales force, and dramatically increased gross margins.
Bank of America Merrill Lynch and William Blair acted as Joint Bookrunners in connection with the IPO. Canaccord Genuity acted as lead manager and BTIG acted as co-manager.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing €1 billion across two business lines: a venture & growth capital fund and a private equity fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare services companies with a focus on the Benelux and DACH-region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com
Eurazeo PME, Eurazeo’s division specializing in medium-sized companies, has received a firm offer to
purchase all of its interest in Vignal Lighting Group from EMZ Partners. Thus, Eurazeo PME has entered into
exclusive negotiations with the Private Equity firm until January 2019. The divestment project will soon be
subject to consultation with the relevant staff representative institutions.
Eurazeo PME acquired a majority stake in Vignal Lighting Group, global leader in lighting for on and off-road
specialty vehicles, in February 2014, working together with Jean-Louis Coutin and the company’s
management team to the transformation of the Group. The transaction, should it occur, would allow
Eurazeo PME to make €119M proceeds from the sale, including the 2016 repayment of the bonds for €27M,
representing a multiple of 2.8x its initial investment.
With Eurazeo PME as its majority shareholder, Vignal has conducted its significant transformation from an
European player in signaling for trucks and trailers to the global leader in lighting for on-road and off-road
specialty vehicles. The acquisition and integration of ABL Lights (2014) and CEA (2016) have supported the
group to offer a comprehensive and complementary product ranges on diversified end-markets (trucks,
construction, mining, handling, agriculture) and geographies (Europe, Americas, Asia) both in OEM and
aftermarket segments. Since 2014, the group has sped up its international expansion, benefitting from
significant cross-selling between product ranges and set-up of a direct presence in the US and in Asia.
Supported by Eurazeo PME, the group has invested in its industrialization across the three continents, with
in particular a new 11,500 sqm industrial and R&D center in Corbas and the opening of a new plant in China.
The group’s turnover more than doubled over the period from €47M in 2013 to €106M in 2017.
Pierre Meignen, Managing Director and Member of Eurazeo PME’s Management Board, declared: “With
the management of Vignal Lighting Group, we have had, since our acquisition, great ambitions to transform
the company in France and internationally. Thanks to the quality of its managers and employees, Vignal
Lighting Group fully respects its strategic roadmap by combining organic growth with external growth,
allowing for a significant expansion of its product range as well as expansion into new markets.”
About Vignal Lighting Group
Vignal Lighting Group is specialized in designing, manufacturing and marketing of lighting and signaling products and systems for industrial and commercial vehicles. It is the result of the combination in 2014 of Vignal Systems and ABL Lights. Both companies gained over time an international recognition in their respective fields thanks to innovative and high-quality products. In 2016, Vignal Lighting Group extends once again its product ranges with the acquisition of the company CEA SA based in Rancate, Switzerland, specialized in beacons and safety products for special vehicles especially in the agricultural field. Vignal Lighting Group also has production sites in the United States and China. With a staff of c. 500 persons, Vignal Lighting Group generated in 2017 a turnover of higher than €106M.
The R&D centers are located in France in the industrial areas of Lyon and Caen and in Rancate, Switzerland.
About Eurazeo PME
A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and deployed through a CSR (Corporate Social Responsibility) policy.
Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following
companies: 2RH, Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK
Direct Group, Orolia, Smile, In’Tech Medical and Vitaprotech. These companies are solidly established within their
market and driven by experienced management teams.
Munich, November 13
In course of a succession settlement , AUCTUS has acquired a share in the Berlin-based Contus Group. The Contus Group – Berlin Brandenburg is an active player in the construction industry as a full-service provider for installation, maintenance and repair of electric, heating and sanitary facilities, especially in residential properties (but also other types of real estate).
The company has been family-owned since shortly after its foundation in 1991. With this transaction, AUCTUS enabled a smooth generation change by acquiring the father’s shares, while the son stays shareholder and CEO of the company. Being based in Berlin, the Contus Group – Berlin Brandenburg is ideally located to serve the most dynamic markets for renovation and new-building construction in Germany, since there is an urgent housing shortage and a high share of very old residential real estate in the region. The Contus Group- Berlin Brandenburg is one of the few companies in Berlin capable of offering the so-called “Strangsanierung”: Fast-paced renovation processes allow residents to leave their unrenovated home in the morning and come back to their fully renovated home in the evening of the same day! This is a great USP, since tenant satisfaction (and, therefore, no bad publicity or damage claims) is of utmost importance to housing companies.
Moreover, in 2010, the Contus Group – Berlin Brandenburg has won the “Grand Prix of the ‘Mittelstand’”, a renowned award that confirms the success of Contus Group’s business model.
Currently, the company generates a total output of EURm 25 and shall expand Germany-wide via add-on acquisitions.
AUCTUS is with 14 investment professionals and more than 160 investments in the last 17 years the leading Private Equity firm in the German-speaking SME sector. We particularly focus on a sector-specific ‘Buy-and-Build’ strategies in which up to 30 national and international companies are merged to form a market leader. Our portfolio companies grow on average by 10% per year in employees, revenues and income. Within the last years AUCTUS received dozens of awards for being the best German-speaking fund as well as for being the best Buy-and Build fund.
AUCTUS Capital Partners AG
T +49 (0) 89 15 90 700-0
Email: info@auctus.com
www.auctus.com
