Monthly Archives: January 2019

The Carlyle Group Makes a Strategic Investment in Crimson Midstream, a Provider of Crude Oil Transportation and Storage Services

Carlyle

Investment to Accelerate Crimson’s Growth and Increase U.S. Crude Producers’ Access to Global Markets

WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces it has made a strategic equity investment in Crimson Midstream Holdings, LLC (Crimson), a provider of crude oil transportation and storage services that operates more than 2,000 miles of pipeline in the U.S. transporting approximately 400,000 barrels of crude oil per day. This strategic partnership will help enhance Crimson’s support of shippers on its Gulf of Mexico, Louisiana and California pipeline systems and grow its presence in these regions and beyond as demand for U.S. crude export infrastructure increases. Carlyle’s Global Infrastructure Opportunity Fund provided the equity for this investment.

John Grier, Founder and Chief Executive Officer of Crimson, said, “The volume of crude oil being produced in the U.S. is unprecedented. Current pipeline and export infrastructure is insufficient to meet the needs of producers and rising global demand for U.S. oil exports. We look forward to working with Carlyle to build, upgrade and maintain the infrastructure needed to alleviate transportation bottlenecks and accelerate U.S. crude production.”

Ferris Hussein, a Managing Director on Carlyle’s Global Infrastructure team, said, “The U.S. oil industry is undergoing a massive transformation. The Shale Revolution has moved the U.S. from a crude importer to a significant crude exporter. We are pleased to partner with Crimson through this remarkable growth period.”

Crimson is actively expanding U.S. crude export capacity, including development of the Swordfish Pipeline. The binding open season for the Swordfish Pipeline is underway and, once complete, will utilize existing Crimson assets to provide much-needed near-term connectivity for shippers between St. James and Raceland, Louisiana to export markets via the Louisiana Offshore Oil Port LLC (LOOP) terminal facility in Clovelly, Louisiana.

Crimson is committed to pipeline safety and to applying technologies and best practices to ensure its pipelines are properly monitored and maintained for the benefit of its customers and communities.

Market Overview

U.S. pipeline capacity and export infrastructure has not kept pace with the recent significant increase in domestic crude production. The U.S. added over 1 million barrels a day of crude production in 2018 and is currently producing a record 11 million barrels per day, according to the U.S. Department of Energy. Experts agree that meaningful investment is required to accommodate new crude flows and ensure these volumes have market access. New pipelines need to be built, existing pipelines reversed and export infrastructure constructed.  Since the U.S. government lifted its ban on crude exports in December 2015, the total volume of crude exported by U.S. producers has reached as high as 3 million barrels per day, estimated by the U.S. Energy Information Administration.

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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.

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

About Crimson Midstream Holdings, LLC
Crimson Midstream Holdings, LLC is a provider of crude oil transportation and storage services in California, Louisiana and offshore Gulf of Mexico. Crimson safely and reliably operates more than 2,000 miles of pipeline transporting approximately 400,000 barrels of crude oil per day to end users. Crimson is led by a management team with deep experience in pipeline operations and management. For further information on Crimson, visit the company’s website at http://www.crimsonmidstream.com/.

Contact

The Carlyle Group
Liz Gill: +1 (202) 729-5385
elizabeth.gill@carlyle.com

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Ratos acquires remaining shares in TFS

Ratos

Ratos has acquired the remaining shares (40%) in the subsidiary Trial Form Support International AB (TFS) from partner and founder Daniel Spasic for an equity value of approximately EUR 11m. After the acquisition, Ratos’s ownership share totals 100%.

Ratos acquired 60% of TFS, an international service provider and a so-called contract research organization (CRO) that conducts clinical trials for pharmaceutical, biotechnology and medical device companies, from founder and owner Daniel Spasic in 2015. With the acquisition of the remaining 40%, Ratos now owns 100% of the company. The acquisition price for the remaining shares amounts to approximately EUR 11m.

“I am delighted that we have reached an agreement with Daniel to acquire the remaining shares of TFS. We strongly believe in this company, which operates in an attractive industry,” says Johan Rydmark, Director at Ratos and responsible for TFS.

TFS has approximately 650 employees and sales for the rolling 12-month period at 30 September 2018 totalled EUR 85.1m.

For further information, please contact:
Johan Rydmark, Director, Ratos, +46 76 109 94 41
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98

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Onex and BPEA to Publicly List Clarivate Analytics through a Transaction with Churchill Capital Corp

Onex

Toronto, Canada, Hong Kong, China, January 14, 2019 – Onex Corporation (“Onex”) (TSX: ONEX), Baring Private Equity Asia (“BPEA”) and their affiliated funds (together “the Group”) today announced they have agreed to publicly list Clarivate Analytics (“Clarivate”) on the New York Stock Exchange through a transaction with Churchill Capital Corp (“Churchill”) (NYSE: CCC), a public special purpose investment vehicle. The transaction implies an enterprise value of approximately $4.2 billion.

Clarivate is a leading provider of critical data, trusted insights and analytics used by universities, corporations, the legal community and other institutions around the world. In 2016, the Group acquired Clarivate from Thomson Reuters. Since then, Clarivate has recruited new management, invested in re-energizing its products and commercial capabilities, and focused on further solidifying its well-known and trusted brands, including Web of Science™, Cortellis™, Derwent Innovation™, Derwent World Patents Index™, CompuMark™, MarkMonitor®, Techstreet™ among many others. Clarivate has begun to experience accelerated revenue growth and will complete its separation from Thomson Reuters this year.
Churchill, led by Chief Executive Officer Jerre Stead, was formed to pursue opportunities in the information services segment of the broader technology services and software industry. The company raised $690 million of cash in an initial public offering in September 2018. Mr. Stead is the former Chairman and Chief Executive Officer of IHS Markit, where he was the architect of a highly successful, long-term track record of profitable growth. Upon completion of the transaction he will become Clarivate’s Executive Chairman.
“Since our acquisition two years ago, Jay Nadler and his management team have done an excellent job establishing Clarivate as an independent business and positioning it for accelerated growth and success in the coming years. This transaction is an exciting milestone in Clarivate’s history and will provide it with even more flexibility to pursue any number of organic and acquisitive growth opportunities,” said Kosty Gilis, a Managing Director with Onex. “Moreover, Churchill’s founders have an extremely impressive and successful history. Jerre is a highly-respected and accomplished executive who brings valuable operational experience and industry relationships. We are absolutely thrilled to have Jerre join forces with Jay and his team, and believe this partnership will further accelerate our growth in the coming years.”

Nicholas Macksey, a Managing Director with BPEA, added: “The combination of Clarivate and
Churchill will bring together some of the most experienced professionals in the information
services industry. We’re excited to be working with Jerre whose experience and network will
allow the company to further accelerate its expansion throughout Asia, which is already the
fastest growing market for Clarivate’s data and related services.”
The Group will not sell any shares in the transaction and will retain 100% of its initial equity,
which will convert to approximately 74% ownership of the outstanding shares of Clarivate at
closing, assuming no redemptions by Churchill’s public stockholders. Onex’ share as a limited
partner in the fund and as a co-investor will be approximately 20%. The remaining outstanding
shares of Clarivate will be held by the founders and current stockholders of Churchill. The
transaction is expected to close in the second quarter of 2019, subject to approval by Churchill
stockholders, Churchill having a specified minimum amount of cash (after giving effect to any
redemptions and payment of its transaction expenses) and other customary closing conditions. In
addition to having the right to vote on the transaction, Churchill’s public stockholders have the
right to have Churchill redeem their shares for cash in connection with the consummation of the
transaction.

Clarivate will also enter into a tax receivable agreement with the Group, which will provide for
the sharing of tax benefits relating to certain pre-combination tax attributes as those tax benefits
are realized by Clarivate. The board of directors of both Churchill and Clarivate have
unanimously approved the proposed transaction.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners
and ONCAP private equity funds, Onex acquires and builds high-quality businesses in
partnership with talented management teams. At Onex Credit, Onex manages and invests in
leveraged loans, collateralized loan obligations and other credit securities. Onex has more than
$33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in
private equity and credit securities. With offices in Toronto, New York, New Jersey and London,
Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ
approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange
under the stock symbol ONEX. For more information on Onex, visit its website at
www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About Baring Private Equity Asia (BPEA)
Baring Private Equity Asia (BPEA) is one of the largest and most established private alternative
investment firms in Asia, with total committed capital of over $17 billion. The firm runs a
private equity investment program, sponsoring buyouts and providing growth capital to
companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as
well as investing into companies globally that can benefit from further expansion into the Asia
Pacific region. BPEA also manages dedicated funds focused on private real estate and private
credit. The firm has a 21 year history and over 170 employees located across offices in Hong
Kong, China, India, Indonesia, Japan and Singapore. BPEA currently has over 30 portfolio
companies active across Asia with a total of 158,000 employees and revenues of approximately
$31 billion. For more information, please visit www.bpeasia.com.
This news release may contain forward-looking statements that are based on Onex and BPEA
management’s current expectations and are subject to known and unknown uncertainties and
risks, which could cause actual results to differ materially from those contemplated or implied by
such forward-looking statements. Onex and BPEA are under no obligation to update any
forward-looking statements contained herein should material facts change due to new
information, future events or otherwise.

For further information:
Onex
Emilie Blouin
Director, Investor Relations
+1.416.362.7711
BPEA
Richard Barton
Newgate Communications
richard.barton@newgate.asia or +852.9301.2056

Categories: News

Lumos Networks and Spirit Communications rebrand as SEGRA

eqt

EQT portfolio company Lumos Networks and Spirit Communications today announced the completion of their rebranding as SEGRASM. The name, derived from an ancient word meaning “to win,” represents Segra’s focus on providing innovative, industry-leading solutions and services. 

EQT Infrastructure III acquired Lumos Networks (“Lumos”) in 2017 with an objective to grow the company’s fiber business both organically and inorganically, and to capitalize on attractive market trends. The later purchase of a majority stake in Spirit Communications (“Spirit”) and subsequent combination of the two companies marked an important step in this ambition. Today, the combined company launched its new brand: Segra.
“Spirit and Lumos were a natural fit given their shared focus on providing innovative, industry-leading fiber-based solutions and services, and we couldn’t be more excited about the outcome. The rebranding to Segra represents the successful combination of the two companies and the creation of one of the largest independent fiber bandwidth companies in the US,” said Jan Vesely, Partner at EQT Partners and Investment Advisor to EQT Infrastructure. “EQT looks forward to continuing to support Segra as it continues to grow, innovate and better serve its customers’ needs.”

Read Segra’s rebranding press release here.

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LAURALU builds its future backed by EVOLEM

Evolem

Lyon, Tuesday, January 15, 2019 – EVOLEM acquires a majority stake in the steel and textile temporary structures specialist called LAURALU.

Located in Saverdun (Ariège) and created in 1998, LAURALU supplies high quality space solutions to logistics operators and industries (SMEs, retailers and institutional and public authorities). Olivier Hohn, Spaciotempo’s (GL Event business unit) former director, took over the company in 2014 with a view to initiate a radical change of the business model from sale to rental, but also to grow internationally through the opening of subsidiaries in United Kingdom and Spain.

LAURALU has established itself as a major player in the manufacturing and leasing of metal and textile structures with a turnover of more than 12 M€ in 2018. The rental offer appears today as an obvious solution for companies’ modular and flexible needs.
With this deal Olivier Hohn wanted to back-up the company with a financial shareholder able to provide long-term support to drive future growth of the company and on which he could rely in order to realise buy and build operations, both in France and abroad.
« The entrepreneurial nature of the Family Office Evolem, the personality of the management team and its clearly expressed desire for external growth have totally convinced me of this choice despite strong interest of other French and international funds.
This operation should help the team build a major European player. »,
explain Olivier Hohn.
« Since the acquisition of LAURALU by Olivier Hohn in 2014, the Company has seen its turnover more than triple with a radical change of its business model offering better visibility on its activity. Olivier Hohn’s experience in this market, his international profile as well as various expansion opportunities have convinced us.»,
testifies Sandrine Escaleira.

Intervenants de l’opération
Buyers : EVOLEM (François NOIR, Sandrine ESCALEIRA, Victor d’HEROUVILLE), SOFILARO (Christophe ROMEYER), Pierre ASSEO, MANAGERS, AUTRES
Legal advisors (buy-side) : ALCYA CONSEIL (Laurent SIMON, Sabine PRADES, Marion MENU)
Legal, social and fiscal due diligence : ALCYA CONSEIL (Laurent SIMON, Sabine PRADES, Marion MENU), CUATRE CASAS (Helene BAUS), STEVENS BOLTON (Nick ATKINS)
Financial Due Diligence : EIGHT ADVISORY (Xavier MESGUICH, Bilel DJEMMALI)
Senior debt : CREDIT AGRICOLE SUD MEDITERRANEE (Sebastien EPALZA, Didier HOCHET), CREDIT AGRICOLE TOULOUSE (Eric ESPIE, Franck ARMANDET, Philippe CHAMOULAUD)
Legal advisor (debt) : PACT AVOCATS (Benjamin DAHAN)
Sellers : MANAGERS, Pierre ASSEO
Legal advisor (vendor) : ALTIJ (Patrick NADRAULT)
M&A advisor (vendor): CAMBON PARTNERS (Guillaume TEBOUL, Philippe BACKES)

About Evolem
Evolem, is a French family office, created and 100% owned by an entrepreneur: Bruno ROUSSET (founder of April group). Evolem’s investment approach is based on a long term strategic vision shared with the management, and no exit horizon in order to accompany the development of leading players in specific sectors.
In the context of majority transactions, Evolem invests in companies with sales between 10 M€ and 80 M€ and operating in niche markets, with the objective of growing small to intermediate size (100 M€ to 150 M€ in sales) through organic and external growth and increased international reach.
Having completed 44 add-ons operations including 11 abroad, Evolem has a solid experience in carrying out such transactions for its platforms, in the identification of potential targets, approach, negotiations and execution.

More information on : https://www.evolem.com/

Press contact :
Peggy DESOUTTER
peggy.desoutter@evolem.com
+33 (0)4 72 68 98 00
+33 (0)6 88 23 15 63

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Segulah completes generation shift

Segula

Gabriel Urwitz, founder and Chairman of Segulah, will step down from the role of Chairman. Having founded the business in 1994 and served as Managing Partner as well as Chairman for 25 years,
Gabriel will remain a member of the Investment Committee for the duration of the Segulah V investment period, as well as board member in several portfolio companies.

Sebastian Ehrnrooth, currently Managing Partner, will take on the role of Chairman.

Sebastian, who joined Segulah in 2000 as a deal partner, has led and participated in a large number of transactions in Segulah II, III, IV and V.

Marcus Planting-Bergloo, currently deal partner, will take on the role of Managing Partner. Marcus, who joined Segulah in 2007 and became a Partner in 2013 has led and participated in numerous successful Segulah acquisitions, including Isaberg Rapid, Scan Coin, Beerenberg, Oglaend Industries, Sandbäckens, Hermes Medical Solutions and most recently Francks Kylindustri.

These changes will become effective April 1st, 2019.

 

For questions, please contact:

Gabriel Urwitz, urwitz@segulah.se,  +46 705 908 900

Sebastian Ehrnrooth, ehrnrooth@segulah.se, +46 733 604 205

Marcus Planting-Bergloo, planting@segulah.se, +46 702 291 185

Categories: People

Cinven invests in RTB House

Cinven

Investment in global provider of high-growth digital advertising technology

International private equity firm, Cinven, today announces that it has signed an agreement to invest in RTB House (‘the Company’), a leading global provider of state-of-the-art retargeting technology for leading brands, for an undisclosed consideration.

Headquartered in Warsaw, Poland, RTB House is leveraging deep learning algorithms in order to enable its retail clients to deliver highly relevant digital advertising campaigns to potential customers who have displayed a purchase intent. RTB House has a blue-chip customer base of close to 1,500 clients worldwide including Adidas, Trivago, Orange and Walmart. Established in 2012, RTB House has global operations with 20 offices worldwide and employs more than 400 people across EMEA, APAC and the Americas.

RTB House has achieved several awards for its strong growth and innovative technology. In 2018, RTB House won The AIconics Award in Best Application of Artificial Intelligence (‘AI’) for Sales & Marketing; and was named by the Financial Times as the 8th fastest growing company in the technology sector in Europe.

Cinven’s TMT Sector team worked closely with its Emerging Europe Regional team to develop this primary investment opportunity, given the following attractive attributes:

  • Strong structural growth trends in the global digital advertising software market;
  • Innovative application of AI;
  • Blue-chip customer base of leading brands globally;
  • Opportunity to accelerate the Company’s growth organically; and
  • Excellent management team, led by Robert Dyczkowski, Chief Executive, Bartłomiej Romański, Chief Technology Officer, Daniel Surmacz, Chief Operating Officer, and Wojciech Głowacki, VP of Sales, with a proven execution track record and significant sector technology experience in advertising and e-commerce.

Cinven’s strategy for RTB House is to work alongside the industry leading management team to:

  • Further internationalise the business drawing on Cinven’s presence in the US;
  • Continue investing in the Company’s cutting edge technology;
  • Selectively pursue value- accretive buy and build acquisitions; and
  • Further professionalise the business with international best practices.

Chris Good, Partner at Cinven, said:

“RTB House is a very exciting business that has demonstrated significant growth, has a strong blue-chip client base, and impressive market-leading technology. 

“We look forward to working with the highly talented management team to further grow the business internationally, both organically and through acquisitions. There are particularly exciting growth opportunities in North America where Cinven has previously successfully grown technology-related businesses including CPA Global.”

Adam Prindis, Principal at Cinven, added:

“RTB House operates in a highly dynamic and fast-growing segment of the technology sector. As e-commerce continues to grow, retailers are focusing increasingly on ways to improve their marketing mix with retargeting playing a very important role. We are very excited about the investment in RTB House which offers truly differentiated solutions, based on advanced AI.”

Robert Dyczkowski and Bartłomiej Romański, CEO and CTO of RTB House, commented:

“We are delighted to be working with Cinven. The team’s expertise in the TMT sector, as well as Cinven’s clear ability of working with companies to internationalise their businesses, will immensely benefit RTB House. We will continue to invest in our state-of-the art and innovative technology to drive the Company’s business performance.”

Paweł Chodaczek, the Company’s co-founder and lead investor prior to the transaction, added:

“I am proud of the remarkable success that Robert, Bartłomiej and the whole RTB House team have achieved and that I have had the pleasure to support them at the challenging earliest stages. Cinven’s investment is a sign of not only great appreciation for the team’s efforts so far, but also a unique chance to boost the company’s further growth.”

The transaction is subject to customary regulatory and antitrust approvals.

Advisors to Cinven on the transaction included: Clifford Chance, Deloitte, Medialink, Prohaska, RBC Capital Markets and Vienna Capital Partners.

Advisors to the Company and Shareholders on the transaction included: CC Group and Weil.

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Blackstone Hires Jon Korngold to Lead New Growth Equity Investing Platform

Blackstone

New York, January 14, 2019 – Blackstone (NYSE:BX) today announced that Jon Korngold, a former senior leader at General Atlantic, will join the firm as a Senior Managing Director and head of Blackstone’s Growth Equity investing platform. Jon will be responsible for building and running this new platform which will provide capital to companies during the critical phase between venture capital investments and traditional buyouts.

Stephen A. Schwarzman, Blackstone Chairman, CEO and Co-Founder, said: “We are very pleased to welcome Jon Korngold to Blackstone and announce the launch of our growth equity platform.  This is a highly synergistic expansion area for the firm and a natural extension of our existing businesses. We are pleased to be growing in this area with a dynamic industry veteran like Jon, who has a successful track record investing in and building scale businesses.”

Jon Gray, Blackstone President & COO, said: “Expansion into growth equity investing represents a compelling opportunity for the firm and our Limited Partners.  Jon is the ideal leader for this new platform. He will build upon Blackstone’s capabilities and strengthen all of our investing businesses through his deep expertise in the rapidly evolving technology sector.”

Jon Korngold added: “I am pleased to join Blackstone as it expands into growth equity investing. The firm has a strong history of successfully innovating into new business areas and I am excited about the opportunity to build a world-class investing platform. The scale, geographic reach and global operating resources that Blackstone can provide fast-growing companies are unparalleled, and will be a real competitive advantage.”

At General Atlantic, Mr. Korngold was a member of the firm’s Management Committee, Chairman of the Portfolio Committee and Global Head of the firm’s Financial Services and Healthcare sectors.  In his 18 years at General Atlantic, he sourced and executed billions of dollars of growth equity investments across the technology services, enterprise software, healthcare, financial services and consumer sectors.  For each of the last three years, Mr. Korngold was ranked #1 among investors on Institutional Investor’s “Fintech Finance 40” list, which recognizes top dealmakers in the financial technology industry. Prior to General Atlantic, he worked in Goldman Sachs’ Principal Investing and M&A groups in London and New York.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact
Matt Anderson
+1-212-390-2472
matthew.anderson@blackstone.com

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Unica acquires Dotwood and strengthens ICT positioning

Triton

Hoevelaken/Amsterdam (The Netherlands), 10 January 2019 – Unica, a Triton Fund IV company, announced the acquisition of DotWood, a specialist in Microsoft Dynamics solutions. The acquisition will strengthen Unica’s activities in the field of ICT, an area Unica Schulte ICT, a Unica company, operates in. The purchase price has not been disclosed.

With DotWood’s solutions, Unica expects to be able to respond even better to its customers’ increasing need for simplifying business processes. Microsoft Dynamics offers powerful applications that enable organizations to improve customer relationship management and planning. Because Microsoft Dynamics can be linked to more and more operational systems, integrated optimization and analysis of business processes is possible.

About Unica
Unica provides a wide diversity of technical solutions for your buildings. Using top-of-the-range, innovative technology and an all-round service package, Unica contributes to socially relevant issues in the field of security, comfort & health, ICT, and energy and sustainability. With a network of ten companies, Unica – with 14 sites and over 2,200 employees – is one of the largest providers of technical services in the Netherlands. Unica is amongst the ‘Top 250 Scale-ups in the Netherlands’, an initiative of the Dutch Ministry of Economic Affairs.

For further information: www.unica.nl

About DotWood
Over the years, DotWood has offered consistent, high-quality services to Microsoft Dynamics customers and thereby assures them of important business benefits of the Microsoft Dynamics CRM solutions. Our expertise comes from years of experience and our solutions meet the requirements of real estate companies, manufacturing & distribution companies, Life Science and service companies.

Our experts communicate in an understandable language, without too many technical concepts. In addition, we believe it is important to integrate our software in a way that suits your company culture and way of working.

DotWood is a Microsoft Gold Partner.

Read more at: www.dotwoodcrm.com/

About Triton
Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton’s portfolio have combined sales of around €13.1 billion and around 85,000 employees.

Read more at: www.triton-partners.com

 

Press Contacts:

Triton
Marcus Brans
Phone: +49 69 921 02204

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Triton to sell Nordic Tankers to MOL Chemical Tankers

Triton

Copenhagen (Denmark) 08 January 2019– Funds advised by Triton (“Triton”) today announced the sale of Nordic Tankers A/S (“Nordic Tankers”) to MOL Chemical Tankers Pte. Ltd. (“MOLCT”), a wholly-owned subsidiary of Mitsui O.S.K. Lines, Ltd. (“MOL”), which is one of the largest shipping companies in the world and listed on the Tokyo Stock Exchange.

Nordic Tankers is a leading chemical tanker company, mainly operating in trade lanes in the Americas, trans-Atlantic and Europe. Triton acquired the company in 2012 and has since strengthened it through initiatives such as recruiting a new management team, investing in new vessels and participating in consolidation through the Crystal Nordic JV, which was sold separately last year.

“We would like to thank the management team, the employees and all other stakeholders for their contributions to Nordic Tankers’ development during Triton’s ownership. We view this as an appropriate time for a long term industrial owner to continue developing the company further” says Peder Prahl, Director of the General Partner to the Triton fund.

About Nordic Tankers
Nordic Tankers A/S is a leading chemical tanker company that transports specialized liquid products in bulk for large chemical producers and oil majors. Building on many years of industry experience, Nordic Tankers offer premium services in all designated core trade lanes. For more information, please visit www.nordictankers.com


About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 38 companies currently in Triton’s portfolio have combined sales of around € 13.1 billion and around 85,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For more information please visit: www.triton-partners.com

Press contacts:

Triton
Fredrik Hazén
Phone:  +46 709 483 810

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