Bure acquires 24.4% of ScandiNova Systems AB

Bure

Bure has entered into agreements with the intention of acquiring 24.4% of the shares in ScandiNova Systems AB (“ScandiNova”) by way of rights issue and acquisition of shares from Industrifonden and SEB Venture Capital. Bure will also offer to acquire shares from other existing shareholders which could increase Bure’s ownership. The transaction is conditional upon approval of the rights issue at ScandiNova’s EGM.

ScandiNova is a world leader in the development and production of Pulsed Power Systems with high power levels (also known as modulators). The company’s products are among others used for linear accelerators in radiotherapy (cancer treatment), science applications and in industrial applications such as cargo scanning. ScandiNovas headquarter and production is in Uppsala and the company has circa 70 employees. The company exports to over 40 countries mainly in Europe, North America and Asia.

”We have followed ScandiNova for a long time and see opportunity in being part of taking the company to the next level. ScandiNova has developed a world leading technology for pulsed modulators which they have successfully commercialized for medical and industrial applications. ScandiNova has a unique position towards customers in radiotherapy for cancer treatment which is a very exciting market” says Henrik Blomquist, CEO of Bure.

“We welcome Bure as an owner in ScandiNova and are looking forward to a long-term cooperation in our continued growth journey. Bure has shown that they are good owners of technologically intensive companies and their experience will contribute to a good development of the company” says Fredrik Mella, CEO of ScandiNova.

The holding in ScandiNova will be reported in Bure Growth, which is a wholly-owned subsidiary of Bure that invests in growth companies.

In connection with the transaction Bure will be represented on the board of ScandiNova.

Bure Equity AB (publ)

Contact at Bure:

Henrik Blomquist, CEO
Tel. +46 (0)8 614 00 20

This information is information that Bure Equity AB (Publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14.30 CET on 11th June 2019.

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EQT to sell Press Ganey

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eqt

  • EQT VII to sell Press Ganey, a leading provider of safety, quality, patient experience and workforce engagement solutions for healthcare organizations in the US, to a consortium of funds managed by affiliates of Ares Management Corporation, Leonard Green & Partners, and other co-investors
  • During EQT’s ownership, Press Ganey has enhanced its position as the key thought leader and partner to US healthcare organizations in helping them transform care and achieve improved financial, operational and clinical performance
  • The sale of Press Ganey marks the first portfolio company exit by EQT’s US Private Equity strategy

The EQT VII fund (“EQT” or “EQT VII”) has entered into an agreement to sell Press Ganey (“the Company”) to a consortium of funds managed by Leonard Green & Partners, L.P. (“LGP”), affiliates of Ares Management Corporation (NYSE: ARES), and other co-investors.

Press Ganey is a leading provider of safety, quality, patient experience and workforce engagement solutions for healthcare organizations in the US. The Company serves over 41,000 healthcare facilities, more than 75% of US acute care hospitals and over 2,500 outpatient facilities. EQT VII acquired Press Ganey in a public-to-private transaction in 2016, marking EQT VII’s first direct investment in North America.

Together with the management team, EQT has supported Press Ganey in its journey to transform healthcare through measurement, integrated analytics, and advisory services. During EQT’s ownership, Press Ganey grew revenue organically and completed multiple strategic acquisitions, strengthening Press Ganey’s position in the US healthcare market. With EQT’s support, Press Ganey introduced its integrated suite of transformational solutions and developed PGO 2.0, the Company’s next generation digital platform, enabling cross domain analytics across the continuum of care.

Pat Ryan, Executive Chairman of Press Ganey, said: “The team at Press Ganey has been fortunate to have a fantastic partnership with EQT, and they have played a critical role in our success. We will always be appreciative of their vision, insight and friendship. We look forward to working with our new partners at Ares and LGP as we continue on our successful growth journey and further our mission to reduce patient suffering.”

Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VII, said: “Press Ganey plays an integral role in the US healthcare system and we have been proud to support its mission of delivering safe, high quality care for patients, and supporting the caregivers that serve them. It has been a pleasure to partner with the management team, which has done a fantastic job in continuing to advance thought leadership and product innovation across the industry.”

The transaction is subject to customary approvals and is expected to close in the third quarter of 2019.

Barclays and Goldman Sachs acted as joint financial advisors and Simpson Thacher & Bartlett acted as legal advisor to EQT and Press Ganey.

Contact
Eric Liu, Partner at EQT Partners, Investment Advisor to EQT VII, +1 917 281 0850
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Press Ganey
Recognized as a leader in performance improvement for nearly 30 years, Press Ganey partners with more than 41,000 healthcare facilities worldwide to create and sustain high-performing organizations, and, ultimately, improve the overall healthcare experience. The company offers a comprehensive portfolio of solutions to help clients operate efficiently, improve quality, increase market share and optimize reimbursement. Press Ganey works with clients from across the continuum of care – hospitals, medical practices, home care agencies and other providers.

More info: www.pressganey.com

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EQT Mid Market sells IP-Only to EQT Infrastructure

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  • EQT Mid Market sells IP-Only, a Swedish high-growth fiber infrastructure provider, to EQT Infrastructure
  • During EQT Mid Market’s ownership, IP-Only has accelerated the transformation of the communication infrastructure landscape in Sweden and increased the fiber deployment pace to support the Swedish Government’s 2025 broadband targets
  • IP-Only has installed fiber connections to more than 200,000 households across Sweden, tripled the employee base and increased revenues and EBITDA by more than four and five times respectively

The EQT Mid Market and EQT Mid Market Europe funds (together “EQT Mid Market”) have agreed to sell IP-Only (or “the Company”), a Swedish high-growth fiber infrastructure provider for data communications, to the EQT Infrastructure IV fund (or “EQT Infrastructure”). The enterprise value amounts to SEK 18,250 million (EUR 1,7 billion) plus an earn-out of up to SEK 1,000 million (EUR 94 million). The transaction was signed following a competitive auction process with both industry and financial buyers.

EQT Mid Market acquired IP-Only in 2013 when the Company was a focused wholesale and enterprises data communications supplier. Today, IP-Only is a leading provider of mission critical fiber infrastructure, serving both the B2B and B2C segments with a high-capacity, nationwide network and connectivity to the other Nordic countries. From 2013 to 2018, the Company’s revenues increased with a yearly average of 34 percent, from SEK 452 million (EUR 42 million) to SEK 1,940 million (EUR 182 million) and adjusted EBITDA with a yearly average of 39 percent, increased from SEK 180 million (EUR 17 million) to SEK 930 million (EUR 87 million).

During EQT Mid Market’s ownership period, IP-Only has invested some SEK 9 billion (EUR 845 million) to expand its network and execute an ambitious consolidation strategy, including 15 private add-on acquisitions and two buy-outs from Stockholm Stock Exchange. In 2014, IP-Only launched a Fiber-to-the-home (“FTTH”) offering to meet the increasing demand for high-speed internet for households in Sweden. The Company has consequently played an important role in building the digital infrastructure for a connected society able to reach the Sustainable Development Goals. Today, IP-Only is the second largest fiber infrastructure provider in the Swedish FTTH market and the operator with most focus on the rural parts of Sweden.

Frida Westerberg, CEO of IP-Only, commented: “Together with EQT Mid Market, IP-Only has transformed from a local enterprise data communications provider, to a pan-Nordic, B2B and B2C provider of mission critical fiber infrastructure. IP-Only has taken a leading role to contribute to the Swedish Government’s broadband targets, meaning that 98 percent of the Swedish population will have broadband access by the end of 2025. We remain committed to execute on this mission and we now look forward to continuing our growth journey with EQT Infrastructure, leveraging on its deep industry knowledge and solid track-record from developing strong fiber assets.”

Johan Dettel, Partner at EQT Partners and Investment Advisor to EQT Mid Market, commented: “EQT Mid Market is proud of IP-Only’s development journey over the past six years, as they have transformed the fixed telecom infrastructure landscape in Sweden. We are impressed with what has been achieved under the leadership of Frida Westerberg and her team and IP-Only is now well-positioned to take the development to the next level. The Company plays a critical role in the digitalization of Sweden, also including its more rural parts, which is a prerequisite to enable digital inclusion, social progress and sustainable economic growth. IP-Only is an impactful company and defines what private equity is all about by combining investments and risks with significant contribution to the development of society.”

The transaction is expected to close in June 2019.

J.P. Morgan and SEB acted as financial advisors and White & Case as legal advisor to EQT Mid Market.

Contact
Johan Dettel, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +46 8 506 55 350
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About IP-Only
IP-Only is a leading independent provider of fiber-based data communication and datacenter services in Sweden. IP-Only owns and operates a high-capacity fiber network linking the Nordic capitals as well as Sweden’s second and third largest cities Gothenburg and Malmo.

More info: www.ip-only.se

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Nordstjernan accepts bid for listed company Ramirent

Nordstjernan

The French equipment rental company Loxam SAS (“Loxam”) has today announced a public takeover bid to the shareholders of the equipment rental company Ramirent Plc (“Ramirent”), whose shares are listed on Nasdaq Helsinki. Nordstjernan AB (“Nordstjernan”) owns 21,863,716 shares in Ramirent, corresponding to 20.1 percent of the capital and voting rights in the company, and is thus the largest shareholder of Ramirent. The offer values Nordstjernan’s shareholding in Ramirent at EUR 197 million. Nordstjernan considers the bid attractive for both Ramirent and its shareholders and has therefore made a commitment to accept Loxam’s takeover bid subject to customary conditions.

Loxam was founded in 1967 and is currently the largest European company for rental of machinery and equipment to the construction sector, industry and retail, among others. The company reported sales of EUR 1,483 million and, in addition to its market-leading position in Europe, has a global presence with operations in South America, Africa and the Middle East, with a total of more than 200,000 customers.

Ramirent is one of Europe’s largest equipment rental companies, with leading market positions and nearly 300 customer centers in the Nordic region as well as Eastern Europe. Ramirent gained its current structure in 2004 when the company acquired NCC’s equipment rental operations Altima following the distribution of Altima to NCC’s shareholders. Nordstjernan was a driving force behind this merger, which created a leading equipment rental group with sales of just over EUR 300 million in 2004. The acquisition was paid for in shares and Nordstjernan, which has been the principal owner in NCC since 1928, thus also became the principal owner of Ramirent. Ramirent reported sales of EUR 712 million in 2018.

Ramirent’s second largest owner, Oy Julius Tallberg Ab (“Julius Tallberg”), with 11.4 percent of the capital and voting rights in Ramirent, has also undertaken to accept Loxam’s takeover bid subject to customary conditions.

“Ramirent operates in nine European countries and is the third largest player in Europe. We are satisfied with the company’s performance and our investment in Ramirent. A consolidation is currently underway at European level. The combination creates a pan-European leader and is based on industrial logic that enables Ramirent to take the next step, providing access to a larger customer base and a strong global platform. We consider Loxam’s offer of EUR 9.00 cash per share to be attractive. It corresponds to a premium of 65 percent over the most recent closing price of the shares and the Board of Directors of Ramirent recommends that the shareholders accept the offer. Nordstjernan and Julius Tallberg have therefore decided to support the offer by committing to accept the bid subject to customary conditions,” says Peter Hofvenstam, President of Nordstjernan.
Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term and positive value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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The Carlyle Group Completes Purchase of StandardAero

Veritas Capital

Global investment firm The Carlyle Group (NASDAQ: CG) announced today that it has closed its purchase of StandardAero from Veritas Capital. StandardAero is a global provider of repair and maintenance services to the aviation industry.

“StandardAero has established itself as one of the true leaders in the MRO industry,” said Adam J. Palmer, Managing Director and Global Head of Aerospace, Defense and Government Services for The Carlyle Group. “We are excited to partner with the StandardAero team to continue supporting the Company’s growth and industry leadership.”

“Joining The Carlyle Group is a great honor and we look forward to working with this distinguished and experienced ownership team,” said Russell Ford, CEO of StandardAero.

Ramzi Musallam, CEO and Managing Partner of Veritas Capital said: “Veritas is pleased to have played an important role in StandardAero’s growth and success, and we believe the Company is well-positioned to continue its strong momentum. We thank Russ and the team for their successful partnership.”

StandardAero has more than 6,000 employees at 38 primary locations and dozens of field services and sales offices across five continents.

About StandardAero

StandardAero is one of the world’s largest independent providers of services including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components and energy markets. The company celebrated its 100th year of industry leadership in 2011. More information can be found on the company’s web site at www.standardaero.com.

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.

Web: www.carlyle.com

Videos: www.youtube.com/onecarlyle

Tweets: www.twitter.com/onecarlyle

Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Veritas Capital

Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Veritas raised its first fund in 1998.  For more information on Veritas and its current and past investments, visit www.veritascapital.com.

Media Contact:

Kyle Hultquist

1.480.377.3192 – Office

1.602.577.2875 – Cell

kyle.hultquist@standardaero.com

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Medxoom Raises $3.2M Financing to Bring Transparency to Medical Billing

TTVcapital

Healthcare benefits platform Medxoom has raised a $3.2 million financing round led by Las Olas VC and TTV Capital. The “late seed” also saw participation from Lattice.VC and several healthcare and payments industry executives.

Medxoom’s CEO and co-founder Jeffrey Toewe shares that this was the right time to raise additional funds as they’ve recently secured several large deals and needed to grow the team to meet the demand.

“We’re looking forward to scaling our existing clients, securing new business and growing our team in Atlanta,” Toewe tells Hypepotamus. “[We] power a better experience for those seeking the best care providers for themselves and their loved ones. We look forward to driving meaningful improvements in America’s evolving healthcare space.”

Toewe and his co-founder Tito Milla decided to target the medical billing space after they had confusing personal experiences.

Patients rarely receive accurate estimates of medical procedures prior to an appointment. This makes it difficult to prepare financially, as the bill often depends on insurance coverage.

Medxoom’s healthcare marketplace app simplifies pricing for medical procedures. It is provided as a company benefit to employees, who receive access to the app via their HR team.

Since the app is already familiar with their employer’s healthcare plan, it displays an accurate price for procedures across a physician marketplace. This helps the employee make an informed decision based on their budget.

“Our mission is to put more of this information out in the sun and help consumers and employers know what these price benchmarks are,” Toewe told Hypepotamus last year.

“The Medxoom product suite empowers consumers with a financial decisioning tool for their healthcare spend, while expanding the coverage options for self-insured employers who have the opportunity to optimize their health benefits experience,” says Atlanta-based TTV Capital’s Sean Banks in a statement.

The Atlanta-based SaaS startup will grow its team to roughly 15 employees, says Toewe. They’ve onboarded more than 40 clients at this time.

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Tikehau Capital and Le Groupe de l’Hôtellerie acquire two hotels in Paris

Tikehau

Paris, 5June 2019– Tikehau Capital, the alternative asset management and investment group, with Le Groupe de l’Hôtellerie, the hotel management, investment and development specialist, acquire two hotels in central Paris through Tikehau Capital’s Real Estate value-added fund.

The Hotel Corona Opéra and the Hotel Touraine Opéra are both three star hotels with a combined capacity of 97 rooms. These hotelsare located in the historical 9thdistrict of Paris, close to the Paris Opera and the large department stores. Built during the 19th century, the hotels have strong potential for development while the hospitality and leisure sector in Paris is growing 1and offers many opportunities.

A third acquisition for Tikehau Capital’s Real Estate value-added fund

This operation is Tikehau Capital’s Real Estate Value-Added fund third acquisition following its partnership with Bouygues Immobilier, for the Charenton-Bercy redevelopment project in the Greater Paris area, and the acquisition of the Nicholsons Shopping Center in Maidenhead, United Kingdom.

Launched in June 2018, this pan-European value-added fund investing across all asset classes is a vehicle that offers co-investment opportunities to large institutional investors.

Tikehau Capital’s Head of Real Estate Frédéric Jariel said: “This investment is another step in the deployment of our value-added fund and confirms our interest in the hospitality sector as part of the dynamic expansion ofour Real Estate activity”. An operation carried out in collaboration with Le Groupe de l’Hôtellerie Le Groupe de l’Hôtellerie is a French based hotel management, investment and development specialist, which accompanies Tikehau Capital as a hospitality-operating partner.

Le Groupe de l’Hôtellerie’s CEO Gilles Douillard added: “We are excited to work closely with Tikehau Capital on this operation. The hospitality sector offers many opportunities for value-added development projects and we are pleased to share our expertise to support this project”.1Parisian Regional Tourism Committee: In the hotel industry, with 35.0 million guests in 2018, the number of arrivals was up by 3.6% compared to 2017

About Tikehau Capital

Tikehau Capital is an asset management and investment group with €22.4billion of assets under management and shareholders’ equity of €2.3 billion (as at 31 March 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 440 staff (as at 31 March 2019) in its Paris, London, Brussels, Madrid, Milan, New York, Seoul,Singapore and Tokyo offices. Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)www.tikehaucapital.comPress contactsTikehau Capital: Jawad Khatib–+33 1 40 06 11 27 France -Image 7 : Grégoire Lucas & Florence Coupry –+33 1 53 70 74 70UK -Finsbury: Arnaud Salla & Charles O’Brien –+44 207 251 3801press@tikehaucapital.com

Shareholderand Investor Contact:

Tikehau Capital: Louis Igonet –+33 1 40 06 11 11shareholders@tikehaucapital.com

DISCLAIMER:

This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.

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Nordstjernan divests its holding in Salcomp

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Nordstjernan

Nordstjernan has entered an agreement to divest its holding in Salcomp, a world-leading manufacturer of chargers for mobile phones and other electronic products for the smart and connected world, to Lingyi iTech. Lingyi is a listed Chinese component manufacturer with sales of more than USD 3 billion in 2018.

Salcomp, founded in 1975, reported sales of EUR 531 million in 2018. Its customers comprise all major manufacturers of mobile phones and the company has production facilities in China, India and Brazil. Nordstjernan has been owner of Salcomp since 2007 and currently owns 55 percent of the capital and votes. The transaction is being conducted jointly with the Sixth Swedish National Pension Fund (AP6), which has owned 45 percent of the capital and votes in Salcomp.

The transaction is subject to the approval of the regulatory authorities in China and Taiwan.

“Nordstjernan has been a long-term owner of Salcomp, a world-leading company in a highly competitive global market. We have now found what we consider to be the right industrial home for Salcomp. The merger will provide the company with greater possibilities to offer its customers a broader product portfolio. I would also like to take this opportunity to extend my sincere thanks to the management and all the employees at Salcomp for our time together,” says Peter Hofvenstam, President and CEO of Nordstjernan.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se

Stefan Stern, Head of Communications Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term and positive value growth. More information about Nordstjernan can be found on www.nordstjernan.se.


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DIF acquires stake in Dublin Waste to Energy PPP project

DIF

London, 4 June 2019 – DIF, through its most recent fund DIF Infrastructure V, is pleased to announce that it has closed the acquisition of a stake in the Dublin Waste to Energy PPP project (the “Project”). The Project is an operational waste to energy facility supported by a 45 year contract with Dublin City Council. DIF Infrastructure V acquired the stake from Macquarie’s Green Investment Group Limited (“GIG”), who remain a shareholder in the Project.

Located in Poolbeg, Dublin Port, the Project processes 600,000 tonnes of residual waste annually and generates electricity which is exported to Ireland’s national grid – sufficient to power 80,000 homes. The facility has been designed to provide highly efficient incineration and is classified as energy recovery in line with EU policy on waste. The Project is part of a wider Dublin regional waste management plan, which is aimed at reducing waste, maximizing recycling and generating energy from waste. The Project benefits from the Irish renewable energy feed-in tariff. The facility was constructed by Covanta who are also its long term operators.

Gijs Voskuyl, Partner at DIF, said “DIF is pleased to invest in the Dublin Waste to Energy Project, a well-managed and high-quality asset, which is expected to provide a stable return to our investors. As result of the investment, DIF further expands its footprint in the waste to energy sector, following the investment in Avertas Energy, an Australian waste to energy facility, alongside Macquarie in 2018. DIF is delighted to invest again in Ireland, partnering with GIG and Covanta, who are both very active and reputable investors in the waste sector”.

DIF was advised by Ashurst (Legal), PwC (Financial), Arup (Technical), SLR (Market) and Grant Thornton (Tax).

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

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

DIF has a team of over 120 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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Rami Huovinen appointed acting CEO of LEDiL

Ratos

Jyri Järvinen is stepping down from his position as CEO of Ratos’s subsidiary LEDiL. The company’s co-owner and Board member Rami Huovinen has been appointed acting CEO until a permanent CEO is recruited.

Rami Huovinen, one of LEDiL’s co-owner, Board member and former CEO, has been appointed acting CEO to replace Jyri Järvinen who is leaving the company. Due to his history and current commitments within LEDiL, Rami is familiar with the company and its market, and therefore well suited to the position as acting CEO. A recruitment process to find a permanent CEO will start immediately.

“During his time as CEO, Jyri continued to lead LEDiL during an expansion phase and we would like to thank him for his efforts. LEDiL is a company operating in an exciting market that is experiencing changes. With his connection to the company, we believe that Rami is the right person to lead the company during this interim period while we seek a permanent CEO,” says Jonas Wiström, CEO of Ratos and President of the Industry business area.

Ratos became the majority owner of LEDiL in 2014. LEDiL designs, develops and sells secondary optics to lighting manufacturers globally. At 31 March 2019, rolling 12-month sales amounted to 41.6 MEUR and the EBITA margin was 23.7%.

For further information, please contact:
Jonas Wiström, President and CEO, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98

About Ratos:
Ratos owns and develops unlisted medium-sized companies based in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable development in the companies we invest in. Ratos is a listed company that invests capital from its balance sheet and therefore has a flexible ownership horizon. Ratos’s 12 companies are divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have approximately 12,300 employees.

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