Quimper declares the offer for Ahlsell unconditional, will acquire all tendered shares

On 11 December 2018, Quimper AB (a company that has been or will be indirectly invested in by CVC Funds) (“Quimper”)1, announced a public cash offer to the shareholders in Ahlsell AB (publ) (“Ahlsell” or the “Company”) to tender all their shares in Ahlsell to Quimper (the “Offer”). The offer document regarding the Offer was made public on 19 December 2018.

The shares tendered in the Offer at the end of the initial acceptance period on 11 February 2019, together with the shares already held or otherwise controlled by Quimper, and closely related parties, amount to in aggregate 403,296,725 shares in Ahlsell, corresponding to approximately 93.9 percent2 of the share capital and the voting rights in Ahlsell.

Quimper hereby announces that all conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Quimper will complete the acquisition of the shares tendered in the Offer. Settlement for shares tendered in the Offer during the initial acceptance period will take place in accordance with previously communicated plan, i.e. around 19 February 2019.

To provide the remaining shareholders of Ahlsell who have not tendered their shares time to accept the Offer, the acceptance period will be open beyond the end of the initial acceptance period, until 27 February 2019 at 15.00 (CET). Settlement for shares tendered in the Offer during the additional acceptance period is expected to start around 7 March 2019. Quimper reserves the right to further extend the acceptance period for the Offer.

Prior to announcement of the Offer, Quimper, and closely related parties, held in aggregate 109,578,323 shares in Ahlsell, corresponding to approximately 25.1 percent3 of the share capital and the voting rights in Ahlsell. At the end of the initial acceptance period on 11 February 2019, the Offer had been accepted by shareholders representing in total 293,718,402 shares in Ahlsell, corresponding to approximately 68.4 percent4 of the share capital and the voting rights in Ahlsell.

Quimper does not hold any financial instruments that give financial exposure to Ahlsell shares and has not acquired any such shares or financial instruments outside the Offer.

Quimper will initiate compulsory acquisition of the remaining shares in Ahlsell as well as promote a delisting of Ahlsell’s shares from Nasdaq Stockholm.


1 Quimper is a newly formed entity that has been or will be indirectly invested in by funds or vehicles (“CVC Funds”) advised by CVC Advisers Company (Luxembourg) S.à r.l. and/or its affiliates. “CVC” means CVC Advisers Company (Luxembourg) S.à r.l. and its affiliates, together with CVC Capital Partners SICAV-FIS S.A. and each of its subsidiaries.

2 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

3 Based on all 436,302,187 outstanding shares in Ahlsell, including the 7,000,000 shares which are held by Ahlsell in treasury.

4 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

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IVC Group accelerates growth – EQT brings in minority investors and appoints Kate Swann as Chairman

eqt

  • EQT brings in blue chip investors in a minority stake sale in IVC at an enterprise value of approximately EUR 3.0 billion
  • EQT remains the largest shareholder and continues to invest in IVC with around 20% of the capital held by institutional minority investors
  • Kate Swann, CEO of SSP Group plc and former CEO of WHSmith PLC, appointed as new Chairman of IVC effective today, having already served as a member of the board of IVC

EQT today announced that the EQT VI and VII funds (jointly “EQT”) bring in a group of partners through a minority stake sale in IVC Group (“IVC” or “the Company”) to support accelerated growth in its next development phase. The transaction values IVC at an enterprise value of approximately EUR 3.0 billion. Around 20% of the capital will be held by institutional minority investors.

Headquartered in Bristol, UK, IVC is a leading veterinary services provider with a network of more than 1,100 clinics and hospitals and approximately 16,000 employees across Europe. Founded in 2011, IVC operates a decentralized model promoting innovation and clinical freedom balanced with integrated support functions such as procurement, veterinary advisors and clinical boards.

IVC was acquired by EQT in December 2016, and in May 2017 the Company was merged with Evidensia, a Swedish veterinary group (also owned by EQT), which at the time operated a network of 180 clinics and hospitals across the Nordics and Central Europe. Since then, IVC has transformed into the leading European veterinary services provider through accelerated organic growth and a large number of strategic add-on acquisitions.

In connection with the minority stake sale, IVC successfully refinanced the business with a first lien facility raised alongside a second lien facility in total of approximately EUR 1.2 billion in addition to a EUR 230 million RCF. The refinancing is designed to allow IVC to continue to drive further consolidation of the European veterinary market.

Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI and EQT VII, comments: “EQT is pleased to welcome the new investors and delighted about the strong support from IVC’s financing providers. The new ownership structure, combined with the successful refinancing, constitute a solid foundation for continuing IVC’s journey towards becoming Europe’s leading veterinary services group. We are also excited to appoint Kate Swann as new Chairman of the board. She brings an impressive track record of long-term sustainable shareholder value creation from leading both SSP and WHSmith and will be ideally suited to support the management team in the future-proofing of IVC.”

David Hillier, CEO of IVC, adds: “IVC has grown immensely during EQT’s ownership and we see attractive opportunities to continue expanding our business across Europe, both organically through increased market penetration and via continued acquisitive growth and consolidation of the highly fragmented veterinary market. We welcome our new partners and look forward to their support in realizing our goal. We are also happy to see Kate Swann appointed as Chairman of the board, having already served as a member of the board.”

Kate Swann, Chairman of IVC, concludes: “I look forward to supporting David, his management team and EQT on the mission to create Europe’s leading veterinary services provider”.

The transaction and refinancing completed on February 13, 2019.

Contacts
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI and EQT VII, +46 8 506 554 50
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with more than EUR 50 billion in raised capital across 28 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 Independent Vetcare
IVC is the largest and most diversified vet services platform in Europe with more than 1,100 clinics and hospitals across 10 countries. IVC employs approximately 16,000 FTEs, including over 4,000 veterinarians.

More info: www.ivc.group

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EQT to invest in VBill, a leading third-party payment service provider in China

eqt

  • EQT Mid Market Asia has signed an agreement to acquire 10% primary shares in VBill, a leading third-party payment service provider in China with a focus on small and medium-sized enterprises
  • EQT will support VBill’s continued customer base growth across city tiers and potential international expansion to become the go-to payment platform with comprehensive product offerings to support merchants
  • EQT is partnering with VBill’s founding management and its parent company, Hi Sun Technology, to jointly drive VBill’s next growth phase

The EQT Mid Market Asia III fund (“EQT” or “EQT Mid Market Asia”) has signed an agreement to acquire 10% primary shares in VBill Limited (“VBill” or the “Company”), a leading third-party payment service provider and merchant acquirer in China with a focus on small and medium-sized enterprises (“SMEs”). The management team, under the joint leadership of SHEN Zheng, Chairman, LI Huimin, CEO, GUO Yi, Vice President, XUE Guangyu, Vice President, and GE Xiaoxia, CFO, together with EQT and VBill’s parent company, Hi Sun Technology (China) Limited (“Hi Sun Technology”, 818.SEHK), will drive the Company’s next phase of growth.

Founded in 2011 and headquartered in Beijing, VBill offers a full range of payment solutions, including bank card acquiring, omni-channel payment, Internet payment and others. By leveraging its extensive merchant base, VBill also provides value-add services, such as fintech-enabled consumer lending. Under the leadership of the founding management team, possessing more than 20 years of industry experience, VBill has achieved remarkable growth since inception, and is today a leading merchant acquirer with a comprehensive service offering, large merchant base and innovative and extensive sales network.

With a strong management team and the support and relevant payment services experience from EQT’s Industrial Network, VBill is well-positioned to capture the attractive growth opportunities in the large and fast-growing third-party payment market in China. The strategy includes continued expansion into lower-tier cities and penetration in SMEs, leveraging the existing network to continue developing consumer lending business, and opportunistically identifying overseas expansion opportunities in Europe, Latin America and Southeast Asia.

SHEN Zheng, Chairman of VBill, said: “We are thrilled to have EQT as our strategic partner for VBill’s next growth phase. With EQT’s global and Chinese corporate governance and service sector experience, we are well-positioned to become the go-to payment service provider for local merchants and pursue overseas expansion opportunities.”

Martin Mok, Partner, Head of EQT Mid Market Asia and Investment Advisor to EQT Mid Market Asia III, concluded: “The management team has led the Company to achieve remarkable growth and become a top player in the sector. EQT looks forward to the new partnership and is fully committed to supporting the management team to continue delivering consistent growth and value creation through various expansion strategies.”

VBill’s implied total equity value in this investment is estimated to be up to RMB 5,880 million (USD 876 million), subject to the audited net income for the fiscal year of 2018. The Company processed over RMB 1.1 trillion (USD 170 billion) transaction value and recorded annual sales of RMB 1.7 billion (USD 254 million) and net income of RMB 190 million (USD 28 million) in 2017. Sales has grown at 2015-17A CAGR of 106% from RMB 402 million in 2015. NPAT has grown at 2015-17A CAGR of 102% from RMB 47 million in 2015. As of September 2018, VBill had 948 employees. The transaction is expected to close in the first half of 2019, subject to completion of restructuring.

Contacts
Martin Mok, Partner, Head of EQT Mid Market Asia and Investment Advisor to EQT Mid Market Asia III, +852 6303 3077
EQT Press Office, press@eqtpartners.com, +46 8 506 553 34

About EQT
EQT is a leading investment firm with more than EUR 50 billion in raised capital across 28 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 VBill
VBill is a leading independent third-party payment service provider in mainland China, present in over 200 cities and serving over 2.8 million active merchants. Founded in 2011 and headquartered in Beijing, VBill is fully licensed to conduct bank card acquiring, internet payment, mobile payment, cross border RMB settlement, and internet micro-lending services.

More info: www.vbill.cn 

About Hi Sun Technology
Hi Sun Technology (stock code: 818.HK) is a leading integrated solutions provider of payments, finance, and telecommunications in China. Hi Sun Technology is principally engaged in the provision of payment processing solutions, financial solutions, platform operation solutions, as well as sales of information security chips and solutions, and electronic power meters and solutions.

More info: www.hisun.com.hk 

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SKYLINE RENEWABLES acquires additional wind portfolio

Ardian

The subsidiary of Ardian Infrastructure made the acquisition of four additional wind farms expanding Skyline’s holdings to 803 MW

Portland, February 12, 2019 – Skyline Renewables has purchased a 117 megawatt (MW) wind portfolio from NJR Clean Energy Ventures (CEV), the clean energy subsidiary of New Jersey Resources (NYSE: NJR).

The US wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming providing clean renewable energy to major population centers across the country.

“We set out to become a leading North American clean independent energy platform,” said Skyline Renewables President & CEO, Martin Mugica. “This latest acquisition marks an important step forward as it diversifies our portfolio geographically and it marks the first tax equity financing fully negotiated by Skyline Renewables.  We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy.”

“We are delighted to partner with Skyline Renewables to help them complete this acquisition,” said George Revock, Managing Director and Head of Alternative Energy and Project Finance at Capital One. “This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”

With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity since forming the company earlier last year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60 MW project in NW Texas, in March 2018. In September 2018, they acquired Hackberry Wind Farm, a 166 MW farm also in NW Texas, and in October 2018 announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects.

“We are ambitious, nimble and we have deep industry expertise,” continued Mr. Mugica. “There are many promising opportunities ahead as we expand Skyline’s reach to different parts of the country with strong clean energy assets that will allow us to actively manage our assets and optimize returns.”

CCA Capital served as advisors to Skyline Renewables to support the tax equity financing.

ABOUT SKYLINE RENEWABLES

Skyline Renewables is a partnership between Transatlantic Power Holdings (TPH) and Ardian, a world-leading private investment house, to establish a leading North American renewables platform. With a current wind portfolio of 803 MW, Skyline Renewables aims to build a total installed capacity of 3 GW. Skyline Renewables was formed when it announced its first acquisition, Whirlwind, a 60MW windfarm in Texas, in March 2018. CEO, Martin Mugica, a top executive within the US clean energy sector with expertise in wind, solar, natural gas fired generation and power trading activities, leads Skyline Renewables. Skyline Renewables’ leadership team features a number of the individuals who helped build and lead Iberdrola Renewables to become the then second largest and fastest growing renewables energy company in the US, at that time.

Ardian Infrastructure is a world leading Infrastructure Fund Manager with special focus in Energy and Transport sectors. In the Renewable space, Ardian Infrastructure accounts circa 2 GW through various technologies: wind, solar, hydro and biomass. Ardian Infrastructure renewables is present in many geographies: North and South America and in Europe including Nordic countries.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt
Ardian on Twitter @Ardian

PRESS CONTACT

ARDIAN US
The Neibart Group
Charlie Mathon
cmathon@neibartgroup.com
Tel +1 718 801 8824
Cell +1 508 614 0667

 

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InfraRed NF closes US$92.2m mezzanine financing deal

InfraRed Capital Partners

InfraRed NF, the leading Greater China real estate investment manager, is pleased to announce the closing of a US$92.2m financing investment with Fullsun International Holdings Group (“Fullsun International”), a Hong Kong listed property developer. The loan will be used by Fullsun International to fund further construction and the acquisition of projects from smaller developers to support the further growth of the company.

The loan is secured on a portfolio of two ring-fenced partially completed residential development projects in Changsha, with additional credit enhancement provided from a mature office asset in Hong Kong. Changsha is the provincial capital of Hunan, which has a population of around 70 million people, and is a major logistics hub for inner China. The estimated gross portfolio value of the ring-fenced collateral is more than US$380m.

Fullsun International is the offshore listed vehicle of a large mainland Chinese developer, Fusheng Group whose sales achieved approximately US$9bn in 2018 according to third party database Soufun. The loan was structured with the additional benefit of recourse to the Hong Kong listed parent company.

InfraRed NF, co-invested with Firewave Management Limited, an indirect wholly-owned subsidiary of Metro Holdings Limited, a Singapore listed company.

InfraRed NF was able to execute the transaction in under two months due to its expertise and reputation in mezzanine financing. To date, InfraRed NF has completed 10 mezzanine investments, seven of which have been repaid, that committed over US$650m of capital to mezzanine transactions in China. This new loan forms part of InfraRed NF’s investment strategy to focus its lending activity on projects in regional hubs, benefiting from infrastructure investment, with strong economic fundamentals and sizeable population bases.

Grant Chien, Head of Special Situations Financing at InfraRed NF Investment Advisers, commented:

“Our track record of working with our portfolio companies on-the-ground combined with our operational know-how gave us the insight and ability to close the deal in under two months. Focusing on positive, long-term trends enables the team to look beyond short-term residential sector cyclicality and recent capital market volatility. Fullsun International has a strong acquisition pipeline of distressed opportunities and we look forward to continue working with them across Tier One and select Tier Two cities.”

Stuart Jackson, CEO of InfraRed NF Investment Advisers, added:

“A window of opportunity has arisen for InfraRed NF from the well-publicised contraction of available credit within China. China’s deleveraging is creating an attractive investment environment for us resulting in a healthy pipeline of mezzanine and value-add deals.”

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ARDIAN invests in CELLI, a leading beverage solutions group

Ardian

Milan, February 11 2019. Ardian, a world-leading private investment house, announces the signing of a binding agreement for the acquisition of 100% of Celli S.p.A., the leading Italian beverage solutions company, which is currently owned by Consilium – an asset management company specializing in private equity – and the Celli family. Senior management will reinvest alongside Ardian.
Founded in Rimini in 1974, the company specializes in the design, manufacturing, testing and installation of innovative beverage dispensing solutions for breweries (including Heineken, Carlsberg, Asahi, Molson Coors, Budweiser) and soft drinks companies (including Coca-Cola and Pepsi). The Group is also involved in the manufacturing of water dispensers, developing solutions that are more sustainable than bottled beverage consumption.
During its 45 years of activity, Celli has evolved from a company focused on the product and its components to a leading operator in the supply of end-to-end solutions in the cold drink dispensing equipment market, distinguishing itself for its product innovation and the excellence of the service offered. Thanks to a widespread network of technical assistance centers and exclusive distributors, Celli offers its services on a global scale, which include installation, function testing, and ordinary and extraordinary maintenance.Celli has recently launched an internally developed IT platform, which remotely coordinates the overall management of the dispensers installed, on behalf of its customers. This is a unique initiative in the sector, aimed at bringing Internet of Things technology to the beverage dispensing sector.
With five manufacturing plants located in Italy and the UK, the Group employs over 400 people and generated a turnover in the region of €110 million in 2018.
The Celli Group has grown both organically and through the acquisition of several major companies in the beverage sector, achieving a leadership position in the beverage solutions sector.
Ardian’s investment will further accelerate Celli’s growth, in particular strengthening the Group’s international reach, which, to date, already exports its products to more than 100 countries.
Yann Chareton, Managing Director of Ardian, said: “We chose Celli as it is already a solid and highly competitive company, thanks to the good work done by its experienced senior management team. With a strong international network and distinctive skills, we are confident that we can contribute to a new phase of growth and success for Celli, supporting its management in this next challenge.”
Mauro Gallavotti, Chairman and CEO of Celli Group, added: “Celli’s Italian excellence is internationally recognized. The path taken with Consilium has been to provide the company with a manager-led approach and exceed the €100 million turnover threshold. Ardian will be the ideal partner for the coming years. We have the opportunity to become the global leader in the industry, at a time when the world is looking for sustainable solutions for beverage consumption.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT CELLI GROUP

The Celli Group is a global leader in the beverage tapping equipment and accessories sector. The company, founded in 1974 and based in San Giovanni in Marignano (Rimini), employs about 400 people in 5 production sites located in Italy and the United Kingdom – and it exports its products to over 100 countries worldwide. In 2013, the independent private equity fund Consilium Sgr joins the Group and it acquires 70% of the capital with the aim of supporting the company growth and expansion at international level. In June 2015, Celli acquired 100% of the English Group ADS2, specialized in the design of customized columns and design for beer tapping, thus becoming a key player in the industry for the world’s largest brewing companies, such as Heineken, AB InBev, SABMiller, etc. Since 2016, the Group is also active in the water sector following the acquisition of 100% of the capital of Cosmetal, a leading company in Italy and Europe in the production of water coolers, dispenser of water and other drinking solutions. In May 2017, the Group finalizes the acquisition of 100% of the capital of Angram Ltd, a UK based specialist in the manufacturing of traditional draught ‘cask’ beer pump systems as well as generic and bespoke fonts. The transaction was executed through ADS2 Holdings Limited, Celli’s UK subsidiary. In March 2018, the Group also acquires 100% of the capital of FJE Plastic Development Ltd, an English company specialized in plastic molding injection, a key process for the production of many components necessary for use in dispensing equipment, allowing also a controlled use of recycled plastics.

LIST OF PARTICIPANTS

M&A Advisor: Mediobanca – Francesco Dolfino, Alberto Vigo, Federico Grossi
Legal: Giovannelli e Associati – Fabrizio Scaparro
Commercial Due Diligence: Boston Consulting Group – Andrea Nogara, Elisa Crotti
Tax: Gitti & Partners – Diego De Francesco, Paolo Ferrandi
Financial Due Diligence: KPMG – Klaus Riccardi
Financing: Gattai, Minoli, Agostinelli & Partners – Lorenzo Vernetti, Marco Leonardi
Environmental Due Diligence: Tauw – Milena Brambilla

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
vtsvetanov@headlandconsultancy.com
Tel: +44 020 3435 7469

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NPM expands minority interest in SUITSUPPLY

NPM Capital

Private equity firm NPM Capital has strengthened its participation in Suitsupply by providing further growth capital. At the end of 2017, NPM Capital invested a first tranche, which allowed Suitsupply to open 25 stores and grow the organization.

Commercially, the company is developing well. Global sales have grown, particularly in the US and Asia. The Suistudio women’s line has been expanded with stores in Milan, Shanghai, Frankfurt and New York. Furthermore, Suitsupply is capitalizing on the casualization trend by offering more clothes that can be worn with a suit or a jacket. Digital development remains a spearhead, with an increasing symbiosis between the physical stores and the webshop. An example is the digital fitting room, where customers decide online what items should be ready for them in a fitting room.

The second tranche of growth capital that NPM Capital has provided will be used for the further development of the omnichannel retail concept, the conversion and restyling of existing stores and the opening of new stores, with a focus on China.

Read more NPM invests in Suitsupply’s growth

 

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Francisco Partners Acquires Qualcomm Life

Franciso Partners

Acquisition positions standalone company to focus on growth opportunities

SAN FRANCISCO AND SAN DIEGO – Francisco Partners (“FP”), a leading technology-focused private equity firm, today announced it has acquired Qualcomm Life, Inc. a wholly owned subsidiary of Qualcomm Incorporated that offers end-to-end medical device connectivity across the continuum of care.

Qualcomm Life will be separated from Qualcomm, be renamed as Capsule Technologies, Inc. (“CapsuleTech”), and continue operating its two distinct business segments: Capsule (a leading provider of medical device connectivity solutions for hospitals) and 2net™ (a medical grade mobile connectivity platform).

“Francisco Partners’ deep experience in healthcare technology and proven track record in nurturing and growing technology businesses will enable CapsuleTech’s loyal base of employees to continue delivering innovation,” said Duane Nelles, Senior Vice President of Corporate Development at Qualcomm Incorporated. “We look forward to our partnership with the FP team as they grow CapsuleTech as an independent entity.”

“FP’s acquisition will help Qualcomm Life (now CapsuleTech) continue to deliver market leading products and services to its world class customer base,” said Rick Valencia, former President of Qualcomm Life, who will support CapsuleTech as an advisor in its transition to a standalone company.

Capsule is a leading medical device connectivity platform that connects medical devices to clinical information systems in over 2,000 hospitals in approximately 40 countries. Through Capsule’s connected devices, networking solutions, and intelligent software applications, hospitals can capture and visualize clinical data to monitor patient health and improve patient care.

“Capsule is a key enabler of the digital hospital and is a trusted choice among hospital clinicians, IT administrators, and healthcare IT vendors,” said Chris Adams, Partner with Francisco Partners. “As hospitals continue to adopt data-driven approaches to managing patient care, Capsule stands to benefit by serving as a centralized connectivity hub for clinical information. We are excited to partner with Capsule and to help the team capitalize on new innovations in device technology and software applications.”

2net provides wireless mobile device connectivity via cloud-based solutions so biometric information is easily accessible by device users, health care providers, and payors. 2net’s customers include leading health insurance payors, pharmaceutical companies, and medical device manufacturers.

“Capsule and 2net will continue to drive increased focus on their respective customers, deliver mission critical solutions and provide exceptional service,” said Justin Chen, Vice President with Francisco Partners. “We look forward to supporting the talented employees and management team going forward.”

Centerview Partners served as financial advisor and DLA Piper LLP served as legal advisor to Qualcomm Incorporated. Kirkland & Ellis LLP served as legal advisor to Francisco Partners. Terms of the transaction were not disclosed.

About Capsule

Capsule is the leading global provider of medical device connectivity solutions for hospitals. Through its medical device technology and software, Capsule integrates with clinical information systems to capture more data, reduce manual efforts and cost, and improve patient care. Capsule’s medical grade solution is device and IT system agnostic, which enables it to meet the needs of any hospital or health system worldwide. Founded in 1997, Capsule has established strategic partnerships with leading medical device manufacturers and is installed in over 2,000 hospitals in 40 countries. For more information, please visit www.capsuletech.com.

About 2net

Founded in 2011, 2net is a medical grade mobile connectivity platform for third party application and device manufacturers focused on home and ambulatory use cases. 2net™ Platform and Hub unlock vital health and therapy data for integration with virtually any system, application or portal. The products interconnect wireless medical devices via cloud-based solutions so that biometric information is easily accessible by device users, health care providers and payors, and caregivers. 2net has over 40 customers and collaborators across health insurance payers, pharmaceutical companies, and medical device manufacturers. For more information, please visit www.2net.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

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KKR Completes Acquisition of Ramky Enviro Engineers

KKR

KKR Global Impact Makes Second Investment

MUMBAI, India–(BUSINESS WIRE)–Feb. 10, 2019– Global investment firm KKR and Ramky Enviro Engineers Limited (“REEL” or the “Company”), a leading provider of environmental services and solutions in India and overseas, today announced the completion of their previously announced transaction. Under the terms of the transaction, KKR has acquired a 60% stake in REEL for approximately US$510 million via a combination of primary and secondary investments. In addition to investing in REEL from its KKR Asian Fund III, the investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind businesses with positive social or environmental impact that measurably contribute solutions to one or more of the United Nations Sustainable Development Goals.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190210005039/en/

M. Goutham Reddy, Managing Director & CEO of REEL, said, “India is home to some of the world’s most pressing waste management needs, and REEL has an important role to play in providing critical solutions to communities across the country. KKR’s expertise in environmental issue management, extensive global and local resources, and aligned vision to enact positive change makes KKR the ideal partner to help us keep pace with the environmental challenges facing our society and provide impactful solutions. We are off to a great start with multiple strong hires added to the management team and process enhancements work to better our ESG efforts.”

Rupen Jhaveri, Managing Director at KKR, added, “Supporting promising companies that offer solutions to global challenges in areas such as the environment, health and human capital has become an increasingly important focus for KKR worldwide. REEL is exemplary in being a comprehensive environmental management company whose work supports the Swachh Bharat (Clean India) Mission to reduce pollution and improve critical sanitation infrastructure nationwide. We are confident that, with our industry experience and resources, REEL will be better positioned to achieve its social mission over the long term.”

Robert Antablin and Ken Mehlman, Co-Heads of KKR Global Impact, said, “Responsibly managing waste is a critical global challenge, particularly in one of the world’s fastest growing nations. We believe REEL will address this critical need while advancing two of the United Nations Sustainable Development Goals.”

Over the last decade, KKR has been a leader in driving and protecting value throughout the firm’s private markets portfolio through thoughtful Environmental, Social and Governance (“ESG”) management, as well as measuring and reporting on performance to the public and investors. The firm also has a history of investing in businesses that promote sustainable solutions to societal challenges. This experience of responsible investment combined with a changing landscape of global challenges led to KKR’s decision to create a dedicated Global Impact business in 2018. KKR’s Impact strategy and investment in REEL will build on this experience.

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About Ramky Enviro Engineers

Ramky Enviro Engineers Limited (“REEL”) is a leading provider of comprehensive environmental management services. Through the provision of its technical and operational expertise, REEL offers cost-effective, custom solutions to a variety of complex environmental needs across areas including Industrial, Municipal and Medical Waste Management, Wastewater and Water Treatment, Environmental Services, Recycling and Remediation, among others. REEL today operates waste treatment facilities in more than 60 locations across India, Singapore, the Middle East, and Africa. The Company handles 3.5 million tons of municipal waste, 1 million tons of industrial waste, and caters to 20,000 healthcare establishments. Many of REEL’s facilities are ISO 9001-, ISO 14001-, ISO 17025- and OHSAS 18001-certified to ensure excellence in environmental and waste management. For more information, visit: http://ramkyenviroengineers.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.

Source: KKR

Media
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
Edelman (For KKR India):
Siddharth Panicker, +91-9820-857-522
Siddharth.Panicker@Edelman.com

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Altamar closes latest secondary Fund on €541M

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The firm has announced that it has reached the final close of 541 millions of euros for its latest secondaries Fund, Altamar Global Secondaries IX FCR. The vehicle was launched in 2016 with a 500 millions of euros target, and has closed not far short of reaching its 550 millions of euros hard cap.

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