Monthly Archives: March 2019

3i-backed Ponroy accelerates its international expansion with the acquisition of Pasquali Healthcare

3I

3i Group plc (“3i”) today announces that Ponroy Santé Group (“Ponroy”), a leading European company in the natural consumer healthcare industry in which 3i invested in January 2017 together with co-investor Cathay Capital and management, is acquiring Pasquali Healthcare, a leading pharmaceutical company in Italy.

Founded in 1999 and headquartered in Florence, Pasquali Healthcare develops and commercialises OTC products in the Italian pharmacy market. Its portfolio of products includes medicated skincare and natural food supplements. Its main brand, Dermovitamina (c. 60% of total sales), is the leading and most innovative medicated skincare brand in Italy, offering a wide portfolio of products for all skin disorders and benefiting from strong brand awareness.

Pasquali Healthcare is an innovative and fast-growing company; it has enjoyed double-digit growth over the last 5 years and generated €23m of sales in 2018.

This is the third acquisition made by Ponroy with the support of 3i, after the acquisitions of Ersa (Aragan and Synactifs brands) in September 2017 and Densmore (Suveal Duo and Memoptic brands) in July 2018. Following these acquisitions, Ponroy is now the third largest player in the French food supplement pharmacy channel and aims to replicate its successful business model across Europe.

The acquisition of Pasquali Healthcare adds a new product line to Ponroy’s offering in the pharmacy channel and will significantly strengthen Ponroy’s presence in Italy, the largest market for food supplements in Europe, where the Group currently operates through a subsidiary distributing the Vitarmonyl and Biopha Nature brands. Pasquali Healthcare will bring its unique expertise in the Italian pharmacy channel, thanks to its nation-wide distribution through 7,000 pharmacies and several distributors and will continue growing in Italy but also abroad thanks to Ponroy’s international network and digital capabilities.

Costantino Pasquali will continue to be CEO of Pasquali Healthcare and will lead the development of Ponroy in the Italian pharmacy channel.

Philippe Charrier, President and CEO of Ponroy, commented:

“Costantino Pasquali is a first-class entrepreneur and we share the same values and principles. He has built a strong brand with Dermovitamina, which we want to transform into an international brand. Our product portfolios are highly complementary and the expertise of Pasquali Healthcare in the pharmacy channel will be key for both our development in Italy and internationally. We look forward to working with Costantino Pasquali and his team.”

Costantino Pasquali, CEO of Pasquali Healthcare, added:

“I am delighted to see Pasquali Healthcare joining forces with Ponroy to initiate a new phase of its development. We will accelerate the international expansion of the Dermovitamina brand thanks to Ponroy’s international network, while we will also benefit from new and exciting opportunities granted by the product offering of the combined group.”

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

“This is a strategic acquisition for Ponroy and fully in line with 3i’s buy-and-build strategy of helping its portfolio companies to expand internationally. After two value-creative acquisitions in France, Pasquali Healthcare will support the development of Ponroy in the attractive Italian market.”

The acquisition is expected to close in Q2 2019.

Deal team
3i: Rémi Carnimolla, Guillaume Basquin, Jérémy Nakache, Marc Ohayon
Ponroy: Philippe Charrier, Matthieu Mourette

Advisors to Ponroy 
M&A: Marco Termini
Legal: Legance (Francesco Florio, Flavia Carmina, Pietro La Placa)
Finance: PWC (Giovanni Tinuper, Stella Guarino) Strategy: Roland Berger (Patrick Biecheler, Pierre-Antoine Bodin, Eléonore Moreau)

Advisors to Pasquali Healthcare
M&A: Azimut Global Counseling (Giancarlo Maestrini, Massimo Polidori)
Legal: Gatti Pavesi Bianchi (Stefano Valerio, Amélie Gillet, Tommaso Carcaterra)

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The Renewables Infrastructure Group Limited – Acquisition of Tille et Venelle wind farm

InfraRed Capital Partners

The Board of TRIG is pleased to announce that the Company has acquired a 100% interest in the Tille et Venelle wind farm (“the Project”), a 40MW onshore wind farm project currently in construction in Burgundy, France. The Project was acquired from Envision Energy, a leading turbine manufacturer and developer head-quartered in China. TRIG has invested c. €30.0m, including construction cost and net of project level and secured a €52m project-level debt financing.

Tille et Venelle was developed by Velocita Energies, a Paris-based Envision Group company, which is currently managing the construction of the windfarm with oversight from RES. The Project is due to become operational during Q1 2020 and will comprise 16 Envision EN-131 turbines with a capacity of 2.5MW each.

Despite a significant market share in China, this is the first time that Envision turbines are imported and erected in Europe. Construction is already well underway, with the first dedicated turbines now exiting the production lines (see pictures below). A thorough technical due diligence has covered areas such as technology, supply chain, import, and certification risks.

The project benefits from a 15-year subsidy in the form of an inflation linked Contract for Difference with the utility company EDF which fixes the price to be paid for the power. As a result, the Project has no power price risk for the duration of the subsidy term.

For the RNS issued by TRIG, please follow the link.

Enquiries

InfraRed Capital Partners Limited
+44 (0) 20 7484 1800
Richard Crawford
Phil George

 

Tulchan  Communications
+44 (0) 20 7353 4200
Martin Pengelley

 

 

More Information

The Renewables Infrastructure Group Limited (TRIG)

The Renewables Infrastructure Group (“TRIG” or the “Company”) is a leading London-listed renewable energy infrastructure investment company. The Company seeks to provide shareholders with an attractive long-term, income-based return with a positive correlation to inflation by focusing on strong cash generation across a diversified portfolio of predominantly operating projects. TRIG is targeting an aggregate dividend of 6.64 pence per Ordinary Share for the year to 31 December 2019.

TRIG is invested in a portfolio of 64 wind, solar and battery storage projects in the UK, France, the Republic of Ireland and Sweden including the acquisition announced today, with aggregate net generating capacity of 1,363MW. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.

Further details can be found on TRIG’s website at www.trig-ltd.com.

 

InfraRed Capital Partners Limited (InfraRed)

TRIG’s Investment Manager is InfraRed, which has successfully invested in over 200 infrastructure projects since 1997.  InfraRed is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 130 professionals it manages in excess of USD 10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated in the UK by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of c. 80 investment professionals with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed’s website, www.ircp.com.

 

Operations Manager

TRIG’s Operations Manager is RES (Renewable Energy Systems Limited), the world’s largest independent renewable energy company.

RES has been at the forefront of wind energy development for over 35 years, with the expertise to develop, engineer, construct, finance and operate projects around the globe. RES has developed or constructed onshore and offshore wind, solar, energy storage and transmission projects totalling more than 16GW in capacity. RES’ operational asset portfolio exceeds 3.5GW worldwide for a large client base. Headquartered in Hertfordshire, UK, RES is active in 10 countries and has over 2,000 employees engaged in renewables globally.

RES is an expert at optimising energy yields, with a strong focus on safety and sustainability. Further details can be found on the website at www.res-group.com.

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The Carlyle Group to Invest in TOKIWA Corporation through a Strategic Business and Capital Alliance

Carlyle

Tokyo, Japan – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has agreed to invest in TOKIWA Corporation (TOKIWA), a global cosmetics company engaging in the research, development and manufacturing of cosmetic products through a strategic business and capital alliance.

Headquartered in Nakatsugawa, Gifu, TOKIWA has been established for more than 70 years and is well-known for its innovations in cosmetic formulations and componentry. TOKIWA has advanced research and development capabilities with more than 400 patents worldwide, and is a supplier to prominent beauty brands around the world. A steady supply of high-quality products and its agility to respond to rapidly growing market demand has enabled TOKIWA to develop a strong reputation among its business partners. The company is also well positioned to benefit from the rising demand and admiration for safe, quality “Made in Japan” cosmetic products, fuelled by a booming tourism market.

Through the alliance, TOKIWA will work with Carlyle to establish itself as a global leader in the cosmetics manufacturing industry. Carlyle will leverage its in-depth knowledge of the cosmetics and consumer industries, corporate management skills, as well as its global network, to support TOKIWA’s marketing efforts and brand positioning in the growing global cosmetics market and lay the foundations for the company’s business expansion. Carlyle will help TOKIWA and its partners achieve further growth, deliver value to consumers, and support TOKIWA to become a “valuable global company that can continue sustained, long-term growth” as indicated in the company‘s philosophy.

Hitomi Hibino, Executive Vice President of TOKIWA, said, “Since our founding, we have continued to change and innovate. With ‘Sustainable Innovation’ as our motto, we have always strived to turn our customers’ confidence into lasting trust. We are pleased to work with Carlyle, which has a proven record in Japan and will add impetus to our organization’s initiatives.”

Yusuke Watanabe, Director of the Carlyle Japan advisory team, said, “We are very pleased to have been chosen as TOKIWA’s strategic partner. We will work to enhance TOKIWA’s business operations, assist its marketing efforts, and expedite the company’s domestic and overseas expansion. We look forward to working with TOKIWA as the company continues to create ’beauty, emotion and joy‘ for its customers around the world.”

Equity for this transaction will come from Carlyle Japan Partners III, L.P., Carlyle‘s third buyout fund in Japan. As one of the first global players to enter the Japanese market, Carlyle has engaged in investment activities in Japan since 2000, with 25 investments.

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. is acting as exclusive financial advisor to Carlyle, while Nishimura & Asahi is acting as legal advisor.

* * * * *

About TOKIWA Corporation

Company Overview

Name

TOKIWA Corporation

Establishment

July, 23, 1948

Head Office

3-20, Momoyamacho, Nakatsugawa, Gifu

Business Description

Research, development and manufacturing of cosmetics (for detail, please refer to the website:

https://www.tokiwa-corp.com/)

Key Subsidiaries

TOKIWA HOLDINGS AMERICA, INC. (US)

TOKIWA COSMETICS AMERICA, LLC. (US)

KUNSHAN TOKIWA COSMETICS CO., LTD. (China)

TOKIWA SUBIC CORPORATION (Philippines)

SONAX CORPORATION (headquartered in Saitama, Japan)

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $216 billion of assets under management as of December 31, 2018, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,650 people in 31 offices across six continents.

The Carlyle Group is the only global investment firm that has dedicated Japan buyout funds denominated in Japanese yen. Carlyle’s Japan buyout funds, which have made 25 investments in Japan, have experience supporting Japanese companies’ business expansion overseas, enhancing their operational efficiency and strengthening their management infrastructure.

Press Contact:

The Carlyle Group
Tammy Li
Phone: +852 2878 5236
Email: tammy.li@carlyle.com

Ogilvy Public Relations Worldwide Japan
Yusuke Yamanaka, +81 (0)3-5793-2388
Abi Sekimitsu, +81(0)3-5791-8725
E-mail: CarlylePress.Tokyo@ogilvy.com

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Fred Kogel and KKR to acquire leading production company i&u TV; Günther Jauch will stay on as moderator for shows of i&u TV

KKR

  • i&u TV has outstanding production expertise in show business, entertainment and infotainment
  • Günther Jauch to remain show moderator and advisor for i&u TV in the coming years
  • Strong addition for Tele München Gruppe and Universum Film to build independent German content house

Cologne, 29 March 2019 – KKR, a leading global investment firm, today announced the acquisition of i&u TV (“i&u“) with the participation of Atwater Capital, LLC. i&u is an award-winning German television production company that combines information and entertainment in a unique way. The company produces TV shows such as “stern TV“, “Klein gegen Groß“, “Die Ultimative Chartshow“ and “Menschen, Bilder, Emotionen“ that have become defining parts of the German TV experience. i&u works closely with Germany´s most popular TV channels as well as with well-known show moderators such as Barbara Schöneberger, Thomas Gottschalk, Kai Pflaume, Jörg Pilawa, and Oliver Pocher.

“After i&u’s almost 20 years of success, I am grateful to the employees. Andreas Zaik will ensure continuity at the company as Managing Director and Editor-in-Chief. I will also continue to support the company both in front of and behind the camera for several more years. I am delighted that i&u will now become part of this large media company. I have known Fred Kogel for almost 40 years and respect him and his work. With Fred spearheading this powerful platform and a strong owner like KKR, i&u will benefit from new opportunities in the TV market and beyond,“ said Günther Jauch.

Strengthened TV production
“We are very happy to welcome Günther Jauch, Andreas Zaik and the great i&u team to our group. i&u creates unique TV shows and has been setting standards in journalistic entertainment for years. We want to build on this exceptional expertise. Infotainment is a key part of any future TV programming. The genre is becoming more and more important for our customers to differentiate their profile to appeal to viewers. I am looking forward to joining forces with the i&u team. Together, we will take the company to the next level,“ said Fred Kogel, CEO of the new media company.

Next stage of development
Philipp Freise, Member and Head of the European Technology, Media and Telecommunications Industry team at KKR, added: “With i&u, a first-class production company and a great team are joining our media company. We continue to realize our ambitious plans and are making great advances in reaching our goal of building a powerful content house in the German film and television industry.“
Following the closing of this transaction, the independent audio-visual content platform will include Tele München Gruppe, Universum Film and i&u. Together, the companies cover all parts of the value chain in the TV and film industry: they buy and produce feature films, series as well as TV shows and distribute this content to cinemas, TV channels, digital services, and home entertainment. At the same time, the companies own market-leading license libraries. Being independent furthermore allows the companies to provide premium content to all customers – from digital streaming providers such as Netflix or Amazon Prime to public and private TV channels. The management team around CEO Fred Kogel is currently preparing the operational start and further expansion of the media company.
The transaction is subject to regulatory approvals and other customary closing conditions. It is expected to close in May 2019. KKR is making its investment from its European Fund IV. Financial details of the transaction were not disclosed.
Further information on the new media company of Fred Kogel and KKR can be found in the press release of 21 February 2019 (link) and 25 February 2019 (link).

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Media Contacts

KKR

Raphael Eisenmann Stephanie Lichtenberg
Hering Schuppener Consulting Hering Schuppener Consulting
Phone: +49 69 92 18 74-86 Phone: +49 69 92 18 74-24
Mobile: +49 160 90 61 11 07 Mobile: +49 171 86 29 942
E-Mail: reisenmann@heringschuppener.com E-Mail: slichtenberg@heringschuppener.com

 

i&u TV
Torben Richter
i&u TV
Phone: +49 221 951 599-967

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.

About i&u TV 
i&u TV represents information and entertainment. Combining these was and is the idea that’s behind the German TV production company i&u TV having the intention to develop and produce high quality prime time entertainment, weekly magazines, reports, and docu soaps. Founded in the year 2000 the company is located in Cologne, Germany. Every year about 140 employees produce far more than 100 premiere broadcasts with more than 160 hours of program on German TV.
Some of the most known and frequent shows are: „stern TV“, RTL’s annual review show, „Menschen, Bilder, Emotionen“, „Denn sie wissen nicht, was passiert – Die Jauch-Gottschalk-Schöneberger Show“, „Die Ultimative Chartshow“, „Nachsitzen! Promis zurück auf die Schulbank“, „5 gegen Jauch“ (all RTL), „Klein gegen Groß – Das unglaubliche Duell“, „Ich weiß alles“, „Zeig mir Deine Welt“, the annual review „Das Quiz“ (all ARD). In addition, i&u TV also produces all kinds of shows for other major German broadcasters.
Productions of i&u TV have won numerous awards like: Deutscher Fernsehpreis, Bayerischer Fernsehpreis, Goldene Kamera, CNN Journalist Award, Bobby, Deutscher Comedypreis, RIAS-Preis, Felix Burda Award, Medienpreis der Hanns-Seidel-Stiftung and others.

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Maesa enters next growth phase with Bain Capital Private Equity as its new partner

BainCapital

PARIS, NEW YORK, LONDON, March 28th, 2019 – Bain Capital Private Equity, a leading global private investment firm, has signed a definitive agreement to acquire a majority stake in Maesa, a global beauty brand incubator supplying leading retailers and beauty companies operating worldwide. Under this joint ownership of Bain Capital Private Equity and Maesa’s co-founders and management, the company will enter the next phase of its growth strategy.

Surpassing competition, Maesa has grown to be the leading global provider of beauty brand incubation and strategic outsourcing. By housing vertically integrated Marketing, Design, Engineering, Product Development and operations, Maesa provides customers unsurpassed speed to market providing exclusive products across the beauty industry including haircare, colour cosmetics, personal care and fragrance. Identifying white space opportunity globally, Maesa has incubated the creation of successful exclusive brands such as Kristin Ess Hair Care and Flower Beauty and partners with a wide range of retailers including Walmart, Target, Sephora, AS Watson, Ulta, Dollar General and H&M. It is Maesa’s unique model that combines the disciplines of designers, beauty merchants, consumer marketing and custom packaging development, which provides a truly differentiated and integrated service to its clients.

“We believe that Bain Capital Private Equity is the right partner to help us take Maesa into its next phase of growth as a global beauty supplier and beauty brand incubator” said Julien Saada & Gregory Mager, Co-Founders of Maesa. “Bain Capital Private Equity has a unique understanding and confidence in our long-term growth strategy, culture and people, bringing valuable global reach and expertise which will support us in our future growth plans”.

Bain Capital Private Equity has a distinguished track record of investing in and partnering with founders and management teams to accelerate the growth of companies. Its consumer and retail investments have included Bugaboo, Maisons du Monde, Sundial Brands, Virgin Voyages and Canada Goose. “The Bain Capital team has a long and successful history of working with founders to support the growth of differentiated business models that are leading change across their sectors,” said Nigel Walder, a Managing Director at Bain Capital Private Equity.

“Greg, Julien and the management team have built a remarkable business. We could not be more excited to partner with Maesa to continue to develop this innovative brand creation approach in an evolving beauty landscape.” said Miray Topay, a Principal at Bain Capital Private Equity.

Maesa is headquartered in New York, NY, USA and Levallois-Perret, France. Founded in 1997, Maesa has grown over the last 22 years to over 300 employees across seven offices globally and generates approximately over $230m in global annual sales. The founders and the management team of Maesa remain substantial shareholders alongside Bain Capital Private Equity and will continue to focus on driving the growth of the business, investing in leadership and developing talent. Andera Partners, a minority shareholder, will be selling its investment as part of the transaction. The team at Maesa thank Andera for their support.

The transaction remains subject to regulatory approval and is expected to complete in the first half of this year.

Maesa was advised by Financo. Bain Capital Private Equity was advised by Lazard and RBC Capital Markets.

About Maesa
Founded in 1997, Maesa is a global beauty brand incubator supplying leading retailers and beauty companies operating worldwide. Maesa designs and manufactures exclusive brands and private labels for mass, drug and specialty retailers and provide outsourcing solutions to beauty brands. In combining design, beauty merchant and production expertise under one roof, Maesa is a driving force in beauty brand incubation. For more information visit www.maesa.com.

About Bain Capital Private Equity
Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 240
investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 19 offices on four continents. The firm has made primary or add-on investments in more than 760 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately $105 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus. For more information, visit www.baincapitalprivateequity.com.

 

 

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The Renewables Infrastructure Group Limited – Successful raise of £300m

InfraRed Capital Partners

The Board of The Renewables Infrastructure Group Limited is pleased to announce the completion of a very successful share issuance, raising £300m.

The issue aimed to raise £171m (150m shares at 114p) to repay its revolving acquisition facility following recent acquisitions and to meet future commitments. The issue was heavily oversubscribed, nearly three times the amount initially available. Given the level of demand, the number of shares available under the issue was increased, raising £302 million (265 million shares). However, it was still necessary to scale back applications materially.

Since January 2018, TRIG has transacted on seven assets with an investment value in excess of £550m and a generating capacity of 540MW. TRIG also has a strong pipeline which includes assets in advanced stages of negotiation. Following admission of the shares the market capitalisation of the company will be c. £1.7bn.

For the full announcement, please follow the RNS issued by TRIG.

 

Enquiries

InfraRed Capital Partners Limited
+44 (0) 20 7484 1800
Richard Crawford
Phil George

 

Tulchan  Communications
+44 (0) 20 7353 4200
Martin Pengelley

 

 

More Information

The Renewables Infrastructure Group Limited (TRIG)

The Renewables Infrastructure Group (“TRIG” or the “Company”) is a leading London-listed renewable energy infrastructure investment company. The Company seeks to provide shareholders with an attractive long-term, income-based return with a positive correlation to inflation by focusing on strong cash generation across a diversified portfolio of predominantly operating projects. TRIG is targeting an aggregate dividend of 6.64 pence per Ordinary Share for the year to 31 December 2019.

TRIG is invested in a portfolio of 64 wind, solar and battery storage projects in the UK, France, the Republic of Ireland and Sweden including the acquisition announced today, with aggregate net generating capacity of 1,363MW. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.

Further details can be found on TRIG’s website at www.trig-ltd.com.

 

InfraRed Capital Partners Limited (InfraRed)

TRIG’s Investment Manager is InfraRed, which has successfully invested in over 200 infrastructure projects since 1997.  InfraRed is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 130 professionals it manages in excess of USD 10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated in the UK by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of c. 80 investment professionals with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed’s website, www.ircp.com.

 

Operations Manager

TRIG’s Operations Manager is RES (Renewable Energy Systems Limited), the world’s largest independent renewable energy company.

RES has been at the forefront of wind energy development for over 35 years, with the expertise to develop, engineer, construct, finance and operate projects around the globe. RES has developed or constructed onshore and offshore wind, solar, energy storage and transmission projects totalling more than 16GW in capacity. RES’ operational asset portfolio exceeds 3.5GW worldwide for a large client base. Headquartered in Hertfordshire, UK, RES is active in 10 countries and has over 2,000 employees engaged in renewables globally.

RES is an expert at optimising energy yields, with a strong focus on safety and sustainability. Further details can be found on the website at www.res-group.com.

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Universidad Alfonso X El Sabio and CVC Fund VII team up to create new leader in education

Business will continue to be led by Jesús Núñez, founder and president of UAX, with new focus on increasing international reach

The Universidad Alfonso X El Sabio (UAX), one of the principal private education institutions in Spain and the oldest in its field, has announced today its partnership with the investment advisory firm CVC to build a new international leader in the higher education sector.

Established in 1994, UAX has a proven track record of success and offers a wide array of higher education options: 49 degree courses and 46 postgraduate and master programmes. The university specialises in academic development with a particular focus on the education of professionals destined for the corporate world, thanks to its 8,800 agreements with companies, institutions, associations and individuals. It currently has 8,500 students enrolled and an alumni community of over 37,000 graduates. UAX is recognised for its healthcare training with three healthcare centres, a veterinary hospital that is renowned Europe-wide, an innovative Virtual Simulation Hospital and a premium campus spanning over 1 million square metres.

CVC will support the founding team led by Jesús Núñez, president of the university, to ensure continued growth in Spain and internationally, both on campus and online. The five-year plan includes both organic and inorganic growth. Organic growth will be driven by expanding the current offering, growing the number of online students and strengthening its professional training.

The higher education sector is currently facing several challenges, including greater international competition, the digitalisation of courses, and new professional skills. To address these challenges, the founders of UAX have sought a partner that will drive growth while continuing to ensure the highest standards of quality for students, faculty and researchers.

CVC Fund VII will become an indirect shareholder of UAX, providing the required financial resources for the business, while current shareholders will remain invested. CVC will bring to bear its international reach and industry links.

CVC Funds have been investing in Spain since 1997, primarily in healthcare, energy and infrastructure. CVC Funds are currently invested in QA Education, the UK’s leading business and IT training company.

The closing is expected once all relevant regulatory and competition authorisations have been secured.

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Bridgepoint to acquire Kyriba

Bridgepoint

March 28, 2019 (SAN DIEGO, CA) – Kyriba, the global leader in cloud treasury and finance solutions, today announced that it is in advanced talks with Bridgepoint, an international private equity group focused on investing in market-leading businesses, to receive a $160M investment round to accelerate innovation and growth of its enterprise platform. The deal, once closed, would give Bridgepoint a majority stake in the business, and value Kyriba at $1.2 billion. Daher Capital, Iris Capital and Kyriba Chairman and CEO Jean-Luc Robert will remain as investors in the company.

New capital will be used to fuel further product innovation, enhance customer support and expand open partner ecosystem.

“Bridgepoint will help us fulfil our mission of enabling CFOs and treasury executives to be more agile and efficient in managing their global cash and liquidity,” Robert said. “In today’s complex and highly volatile business environment, finance leaders need real-time visibility and pinpoint control over their cash operations to maximize growth and opportunity.”

Kyriba

Kyriba’s cloud platform seamlessly connects siloed financial systems – banks, ERPs, and other systems – to enable global organizations to improve key capabilities for cash and risk management, payments and working capital optimization. Through its open ecosystem, Kyriba enables strategic partners to access its platform and create value-added services that no other vendor can offer.

Kyriba’s unique value proposition resulted in a record growth year in 2018, including surpassing $110M in revenue and netting 229 new clients. In January, Kyriba announced its plans to acquire FiREapps, a leader in enterprise currency management, which will create the industry’s most robust, end-to-end solution for managing FX risk.

“We are very pleased to be engaged with Kyriba in this next stage of growth. Kyriba is a fast-growing company with an impressive track record of double-digit expansion and is the global market leader in cloud-based treasury management software solutions,” said Andrew Sweet, a New York-based partner at Bridgepoint. “With a market-leading offering and leadership position in the French and US markets, Kyriba is now well positioned to expand globally and we anticipate that further investment in R&D in particular will support its development in providing clients with comprehensive, end-to-end liquidity management solutions.”

With the new capital, Kyriba will enhance product development, customer support and expand its ecosystem. It will specifically invest $60M into product innovation over the next two years.

Bridgepoint is an international private equity firm, with 12 offices across the US, Europe and Asia, and more than $20 billion of assets under management. Bridgepoint has extensive experience of partnering with management to support the growth of similar software businesses, including Efront (the leading alternative investment management software) and Calypso (a leading provider of capital markets software for financial institutions).

“I would like to thank the investors who have supported Kyriba throughout its growth and enabled us to get to this important milestone, including Upfront Ventures, Bpifrance, SumeruEquity Partners and HSBC,” Robert said.  “This transaction has provided a strong exit for them while establishing a strong future for Kyriba.”

Kyriba will continue to be led by Jean-Luc Robert and will operate with its current management structure and strategy.

 

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artners Group leads Ascent Real Estate Investors and Sigma Delta Partners Investment-fronted consortium to acquire Beijing’s Dinghao Plaza

Partners Group

Partners Group, the global private markets investment manager, has acquired a majority equity stake in Dinghao Plaza, a large mixed-use office and retail complex in Beijing, on behalf of its clients. The firm has partnered with a consortium including Ascent Real Estate Investors, Sigma Delta Partners Investment and the Family Office Company in the off-market acquisition, which had a total transaction value of USD 1.34 billion.

Dinghao Plaza is a 176,976 square meter mixed-use building complex situated in the heart of Beijing’s ZGC area, known as the ‘Silicon Valley of China’, with direct underground access to the ZGC metro station. Constructed in 2003, the property currently contains a large retail podium and two office towers. It offers a value creation proposition that is focused on repositioning under-used retail space for office use and undertaking a large-scale refurbishment of the existing office towers to bring them to Grade A standard.

Rahul Ghai, Managing Director, Private Real Estate Asia, Partners Group, states: “Dinghao Plaza is ideally located in ZGC, Beijing’s vibrant tech and media area, where demand for large, contiguous, and premium office space is high and supported by the strong growth of China’s technological sector. The acquisition of Dinghao Plaza is a great fit with our longstanding ‘buy, fix and sell’ strategy, whereby we seek out properties in prime locations that can benefit from repositioning with sufficient time and capital. Together with our consortium partners, we plan to undertake a multi-year value creation program which will transform Dinghao Plaza into a core real estate asset.”

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ARDIAN in exclusive negotiation with a view to sell its state in world-leading car parking & mobility operator INDIGO to MIROVA and MEAG

Ardian

Paris, 27 March 2019 –  Ardian, a world-leading private investment house, today announces it has entered into exclusive negotiation with a view to sell its c.50% stake in Indigo Group, the world-leading car parking & individual mobility group, to Core Infrastructure Fund II (and its co-investment vehicle) managed by Mirova, an affiliate of Natixis Investment Managers dedicated to sustainability investing, which would acquire a c.35% share, alongside MEAG (c.15%) the asset manager of Munich Re and ERGO, after concluding a proprietary sale process. Crédit Agricole Assurances will retain its stake, with the remaining shares being held by the Group’s management and employees.

Indigo is the world leader in parking and individual mobility, operating and driving development in both on- and off-street parking across continents, as well as providing individual mobility services. The company operates in over 750 cities around the world with more than 20,000 staff across 10 countries. It has over 5,050 car parks, more than 2.3 million managed parking spaces and 3,000km of managed on-street parking.

Since Ardian became a shareholder in 2014, Indigo has experienced significant growth, particularly through its international strategy which focused on building strength in markets in which Indigo can take a leadership position, across Europe and North and South America. Indigo also launched its new Mobility and Digital Solutions business with support from Ardian and Crédit Agricole Assurances. This business comprises OPnGO, a digital parking platform with more than 180,000 active users, and Indigo Weel, a mobility-sharing platform, offering vehicles including bicycles, scooters and cars, with a growing presence across France.

Serge Clemente, CEO of Indigo Group, said: “Ardian’s investment in Indigo has enabled the business to accelerate Indigo’s growth, most notably in Europe and the Americas. Indigo is now a leading player in individual mobility globally, and this is a position which has been both established and expanded with Ardian’s support. Indigo is at the heart of how individual mobility is evolving, both through our constantly developing parking networks and our digital mobility services. I am glad to have the opportunity to welcome Mirova and MEAG, who would, alongside Crédit Agricole Assurances, help us work towards the various pillars of our ambitious Goal 2025 plan, including the development in China with our partner Sunsea.”

Laurent Fayollas, Senior Managing Director at Ardian Infrastructure, added: “We are proud to have supported Indigo’s management team, who have created an innovative company which has become a leading player in Europe and the Americas. Their entrepreneurial talent has significantly contributed to the group’s growth as well as its positioning as an individual mobility leader through digital innovation.”

Gwenola Chambon & Mounir Corm, Mirova’s Heads of Infrastructure Funds, added: “We are delighted to have the opportunity to potentially become a central shareholder of Indigo alongside like-minded investors Crédit Agricole Assurances and MEAG. We are committed to supporting Indigo and its management team in offering digital innovation to their clients as well as high quality and sustainable mobility infrastructure and services to local communities in France and worldwide.”

Holger Kerzel, MEAG Managing Director, added: “With this potential investment in Indigo and its parking and mobility operations, MEAG provides Munich Re access to sustainable earnings to cover payment obligations in its core business. As a division of Munich Re, we access the extensive know-how of a global investment enterprise, which we use to generate value at multiple levels of our investment process.”

The transaction will be finalised after consultation with employee representative bodies and will be subject to approval by the relevant competition authorities.

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 585 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: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT MIROVA

Mirova is the affiliate of Natixis Investment Managers dedicated to responsible investment. Through a conviction-driven investment approach, Mirova’s goal is to combine value creation over the long term with sustainable development. Mirova’s talents have been pioneers in many areas of sustainable finance. Their ambition is to keep innovating to propose the best tailored and most impactful solutions to their clients. As of December 2018, Mirova has EUR 10.1 billion of assets under management.With over 15 years’ experience in the structuring and management managing of infrastructure assets, Mirova’s Infrastructure Teams provide institutional clients with investment opportunities both in greenfield and brownfield assets while supporting the sustainable development of local economies.

www.mirova.com

ABOUT MEAG

MEAG is the proprietary asset manager of Munich Re and ERGO and also offers its vast expertise to third-party institutional and private clients. Across its locations in Europe, North America and Asia, MEAG manages total investments valued at €252bn. Since 2009, MEAG has been building a strong diversified infrastructure equity and credit portfolio, with teams based in Munich and New York City. Recently MEAG has reached a first closing of €200 million for its new MEAG Infrastructure Debt Fund targeting €500 million.

ABOUT INDIGO

Indigo Group, holding about 100% of Indigo Infra, OPnGO and INDIGO® weel, is a key global player in car parking and urban mobility, that manages more than 5 050 car parks, 3 000 km of on-street parking, 2.3 million parking spaces and related services in 10 different countries.
www.group-indigo.com

LIST OF PARTICIPANTS

Ardian was advised by Nomura (financial advisor), Weil, Gotshal & Manges (Paris) LLP (legal and tax advisor), PwC (financial, tax and legal due diligence), BCG (strategic and market advisor) Bureau Veritas (technical due diligence) and SIACI SAINT HONORÉ (insurance due diligence).
Mirova was advised by Natixis (financial advisor), Linklaters LLP (legal advisor), Allen & Overy (legal advisor), KPMG (financial due diligence), FIDAL (tax due diligence), ATKearney (commercial due diligence), Arcadis (technical) and MARSH (insurance).
MEAG was advised by LEK (Commercial), Clifford Chance (Legal), MunichRe/Arcadis (Technical &Insurance), EY (Financial & Tax & Financial Model), Operis (Financial Model).
Management of Indigo was advised by Scotto Partners (Legal advisor).

PRESS CONTACTS

ARDIAN
Headland
Carl Leijonhufvud
Tel: +44 (0)20 3805 4827
cleijonhufvud@headlandconsultancy.com
MIROVA
Shan
Margaux Béal
Tel: +33 (0)1 44 50 58 80
margaux.beal@shan.fr

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