Funds advised by Apax Partners to acquire Baltic Classifieds Group

Apax

9 May 2019: Funds advised by Apax Partners (the “Apax Funds”) today announced a definitive agreement to acquire Baltic Classifieds Group (“BCG”), a portfolio of leading online classified advertising platforms in the Baltics. The stake will be acquired from Media Investments & Holding OÜ, a Baltic-based media business. The transaction is expected to close by July 2019, subject to regulatory approvals. Financial terms were not disclosed.

BCG operates Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee and Soov.ee, leading online classifieds platforms for automotive, real estate, jobs, and general merchandise. BCG’s portals are some of the most visited websites in their respective countries, generating more than 50m monthly visits in aggregate.

The Apax Funds have a long and successful track record investing in digital marketplace businesses. The investment in Baltic Classifieds Group will be the ninth in this space and the first in the Baltic region. Previous investments include Auto Trader in the UK, Idealista in Spain, SoYoung and SouFun in China and Trade Me in New Zealand.

Tom Hall, Partner at Apax Partners, said: “Over more than a decade, Justinas, the CEO, Simonas, the COO, and their long-standing team have built a collection of market-leading businesses with strong brands. The digital marketplaces they operate promote trust, fairness and efficiency. We are excited to introduce the BCG team to our wide network of classifieds businesses and executives around the world. We look forward to investing in BCG further, with the support of our Operational Excellence Practice, to enhance the great value these marketplaces provide for advertisers and consumers.

“We are also very pleased for the Apax Funds to invest in the Baltics for the first time. We are confident in the growth prospects of the region and have been very impressed with its business friendliness, pragmatism and entrepreneurial culture.”

Justinas Simkus, Chief Executive Officer of BCG, said: “We are proud to have developed a market-leading position. This is testament to our team and to the support we have had from our exiting shareholder. We look forward to benefitting from the considerable experience the Apax team has in digital marketplaces.”

About Baltic Classifieds Group

Baltic Classifieds Group is a portfolio of leading online classified advertising platforms in the Baltics, specialising in five key segments: automotive, real estate, jobs, generalist and ecommerce. The company operates in Lithuania, its largest market, through Diginet LTU. For more information see: www.diginet.lt

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts:

For Baltic Classifieds Group

Justinas Simkus  |  info@diginet.lt

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors:

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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KKR Completes Acquisition of MYOB

KKR

SYDNEY–(BUSINESS WIRE)–May 8, 2019– Global investment firm KKR and leading Australian online business management company MYOB Group Limited (“MYOB” or the “Company”) today announced the completion of the previously announced acquisition of MYOB by KKR.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190507006190/en/

David Lang, Member at KKR, said, “MYOB is a true leader in the growing and innovative business solutions software segment. We are excited to partner with and support MYOB as it accelerates the company’s growth plans in Australia and New Zealand while also exploring the significant opportunities it has to offer its customers new products and solutions.”

Tim Reed, CEO of MYOB, said, “The past year has been an eventful one for MYOB in which we accelerated our investment in the MYOB Platform and fast-tracked its delivery to our customers. This rollout helped us to achieve even greater online subscriber growth and propelled us to a leading position in Australia and New Zealand’s online accounting market. Now with KKR’s support and expertise, we are even better positioned for future growth. I am confident the business will continue to thrive well into the future, and am excited to embark on MYOB’s next chapter.”

MYOB entered into a Scheme Implementation Agreement with KKR on December 23, 2018, under which KKR proposed to acquire all the MYOB shares it did not already own. MYOB shareholders voted in favour of the Scheme on April 17, 2019, and implementation took effect today.

KKR’s investment in MYOB was made from its flagship Asian Fund III.

****

About MYOB

MYOB Group Ltd is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.

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:
For KKR
KKR Asia
Anita Davis
+852 3602-7335
Anita.Davis@KKR.com

KKR Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com

Newgate Communications (For KKR Australia)
Miche Paterson
+61 400 353 762
miche.paterson@newgatecomms.com.au

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Zayo Announces Definitive Agreement to be acquired by Digital Colony and EQT

eqt

Zayo Shareholders to Receive $35.00 per share in Cash
Transaction Valued at $14.3 Billion
Transaction would result in Zayo becoming a private company
World-class network assets well positioned to meet connectivity-driven demand in key North
America and Europe markets
Global investment firms, EQT and Digital Colony, uniquely positioned to support Zayo in
growing its business

BOULDER, Colo. – May 8, 2019 – Zayo Group Holdings, Inc. (“Zayo” or “the Company”)
(NYSE: ZAYO), which provides mission-critical bandwidth to the world’s most impactful
companies, today announced that it has signed a definitive merger agreement to be acquired by
affiliates of Digital Colony Partners (“Digital Colony”) and the EQT Infrastructure IV fund (“EQT”
or “EQT Infrastructure”). The transaction would result in Zayo transitioning from a public
company to a private company. Under the new ownership, the Zayo team would continue to
execute the Company’s strategy and remain headquartered in Boulder, Colorado.
Under the terms of the agreement, which was unanimously approved by Zayo’s Board of
Directors, shareholders will receive $35.00 in cash per share of Zayo’s common stock in a
transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt
obligations. The offer price represents a 32% premium to the volume-weighted price average of
the last six months of $26.44.

Dan Caruso, Zayo’s Chairman and CEO, said “Digital Colony and EQT share our vision that
Zayo’s Fiber Fuels Global Innovation. Both are experienced global investors in the
communications infrastructure space, and they appreciate our extraordinary fiber infrastructure
assets, our highly talented team and our strong customer base. I am confident this partnership
with EQT and Digital Colony will empower Zayo to accelerate its growth and strengthen its
industry leadership.”

Marc Ganzi, Managing Partner of Digital Colony, said “Zayo has a world-class digital
infrastructure portfolio, including a highly-dense fiber network in some of the world’s most
important metro markets. We believe the company has a unique opportunity to meet the
growing demand for data associated with the connectivity and backhaul requirements of a range
of customers. We are excited to work alongside the management team and EQT to grow the
business and expand its presence in the global market.”

“We are excited by the opportunity to team up with Zayo, in a transaction reflecting EQT’s
commitment to investing in market leading infrastructure companies whose innovations and
services are transforming society,” said Jan Vesely, Partner at EQT Partners, Investment
Advisor to EQT Infrastructure. “As one of the most active global infrastructure investors with a
demonstrated track record of success in the telecommunications and fiber industry, we are
confident that EQT, along with Digital Colony, are ideal partners for Zayo as the Company
embarks on its next phase of growth. We look forward to working closely with Zayo’s global
team, whose entrepreneurship, collaboration and customer partnerships are best in class.”
“Following a comprehensive review of strategic alternatives, the Zayo Board of Directors
concluded that the sale of Zayo to Digital Colony and EQT Infrastructure is in the best interest of
Zayo and all its stakeholders,” said Yancey Spruill, Zayo’s Lead Independent Director. “The
transaction delivers immediate and substantial value to shareholders and will strengthen Zayo’s
financial flexibility, enabling the company to increase investments and better position itself for
long-term growth and profitability.”

The closing of the deal is subject to customary conditions, including regulatory clearance and
Zayo shareholder approvals. The transaction is expected to close in the first half of calendar
2020.

Goldman Sachs and J.P. Morgan are serving as financial advisors to Zayo Group in connection
with the transaction and Skadden Arps is serving as legal counsel. Morgan Stanley and
Deutsche Bank are acting as financial advisors to Digital Colony and EQT Infrastructure, and
Simpson Thacher is serving as legal advisor.
For further information regarding all terms and conditions contained in the definitive merger
agreement, please see the Company’s form 8-K, which will be filed in connection with this
transaction.
For more information about Zayo, visit zayo.com.

About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides mission-critical bandwidth to the world’s
most impactful companies, fueling the innovations that are transforming our society. Zayo’s
130,000-mile network in North America and Europe includes extensive metro connectivity to
thousands of buildings and data centers. Zayo’s communications infrastructure solutions include
dark fiber, private data networks, wavelengths, Ethernet, dedicated Internet access, and
colocation services. Zayo owns and operates a Tier 1 IP Backbone and 51 carrier-neutral data
centers. Through its Cloudlink service, Zayo provides low latency private connectivity that
attaches enterprises to their public cloud environments. Zayo serves wireless and wireline
carriers, media, tech, content, finance, healthcare and other large enterprises. For more
information, visit zayo.com.

About Digital Colony
Digital Colony is a global investment firm dedicated to strategic opportunities in digital
infrastructure. The firm was launched in 2018 by Digital Bridge Holdings, LLC, a leading investor
in and operator of companies enabling the next generation of mobile and internet connectivity,
and Colony Capital, Inc. (NYSE: CLNY) a leading global real estate and investment
management firm. The firm brings together Digital Bridge’s industry, operational and investment
expertise in the telecommunications sector with Colony Capital’s 26 years of experience as a
global investment manager. For more information, please visit www.digitalcolony.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 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.

Forward Looking Statements
Certain statements made herein, including, for example, statements regarding the benefits of
the transaction, certainty of the transaction, the anticipated timing of the transaction and future
results or expectations of the Company, are “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934
(the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements typically include words such as “believes,” “expects,” “plans,”
“intends,” “estimates,” “projects,” “could,” “may,” “will,” “should,” or “anticipates” or the negatives
thereof, other variations thereon or comparable terminology. No assurance can be given that
future results expressed or implied by the forward-looking statements will be achieved, and
actual results may differ materially from those contemplated by the forward-looking statements.
Such statements are based on management’s current expectations and beliefs and are subject
to a number of risks and uncertainties that could cause actual results to differ materially from
those expressed or implied by the forward-looking statements, many of which are beyond our
control, and are not guarantees of future results or achievements. Consequently, no
forward-looking statements may be guaranteed and there can be no assurance that the actual
results or developments anticipated by such forward looking statements will be realized or, even
if substantially realized, that they will have the expected consequences to, or effects on, the
Company or its businesses or operations. As a result, you should not place undue reliance on
any such statements and caution must be exercised in relying on forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those
described in these forward-looking statements: the occurrence of any event, change or other
circumstances that could give rise to the delay or termination of the Merger Agreement; the
outcome or length of any legal proceedings that have been, or will be, instituted related to the
Merger Agreement; the inability to complete the Merger due to the failure to timely or at all
obtain stockholder approval for the Merger or the failure to satisfy other conditions to completion
of the Merger, including the receipt on a timely basis or at all of any required regulatory
clearances related to the Merger; the failure of Parent to obtain or provide on a timely basis or at
all the necessary financing as set forth in the equity commitment letter delivered pursuant to the
Merger Agreement; risks that the proposed transaction disrupts current plans and operations
and the potential difficulties in employee retention as a result of the Merger; the effects of local
and national economic, credit and capital market conditions on the economy in general; and the
other risks and uncertainties described herein, as well as those risks and uncertainties
discussed from time to time in our other reports and other public filings with the Securities and
Exchange Commission (the “SEC”) as described below. The foregoing review of important
factors that could cause actual events to differ from expectations should not be construed as
exhaustive.

Additional information concerning these and other factors that could affect our forward-looking
statements, see our risk factors, as they may be amended from time to time, set forth in our
filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended June
30, 2018, and our Quarterly Reports on Form 10-Q for the quarters ended September 30, 2018
and December 31, 2018. Our SEC filings are available publicly on the SEC’s website at
www.sec.gov, on the Company’s website at https://investors.zayo.com or by contacting the
investor relations department of the Company. Except to the extent required by applicable law,
we disclaim any obligation to update any forward-looking statement, whether as a result of new
information, future events or otherwise.

Additional Information about the Proposed Merger And Where To Find It
In connection with the proposed Merger, the Company will file a proxy statement on Schedule
14A with the SEC. Additionally, the Company plans to file other relevant materials with the SEC
in connection with the proposed Merger. This press release is not a substitute for the proxy
statement or any other document which the Company may file with the SEC. The definitive
proxy statement will be sent or given to the stockholders of the Company and will contain
important information about the proposed Merger and related matters. INVESTORS IN AND
SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY
STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR
FURNISHED OR WILL BE FILED OR WILL BE FURNISHED WITH THE SEC, AS WELL AS
ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH
RESPECT TO THE PROPOSED MERGER BECAUSE THEY CONTAIN OR WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE MERGER, RELATED MATTERS AND THE
PARTIES TO THE MERGER. The materials to be filed by the Company with the SEC may be
obtained free of charge at the SEC’s website at www.sec.gov or by contacting the investor
relations department of the Company.
Participants in the Solicitation

This press release does not constitute a solicitation of a proxy from any stockholder with respect
to the proposed Merger. However, the Company and its directors and executive officers may be
deemed to be participants in the solicitation of proxies from Company stockholders in
connection with the proposed Merger. Investors and security holders may obtain more detailed
information regarding the names, affiliations and interests of the Company’s executive officers
and directors in the solicitation by reading the Company’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2018, the Company’s definitive proxy statement on Schedule 14A for
the 2018 Annual Meeting of Stockholders and the proxy statement and other relevant materials
filed with the SEC in connection with the Merger if and when they become available. Additional
information concerning the interests of the Company’s participants in the solicitation, which may,
in some cases, be different than those of the Company’s stockholders generally, will be set forth
in the proxy statement relating to the Merger when it becomes available. You may obtain free
copies of these documents as described in the preceding paragraph filed, with or furnished to
the SEC. All such documents, when filed or furnished, are available free of charge at the SEC’s
website at www.sec.gov or by contacting the investor relations department of the Company.

For Zayo: Brad Korch, Investor Relations
720-306-7556
IR@zayo.com
For Digital Colony Partners: Alex Stanton / Charlyn Lusk, Stanton
212-780-0701/646-502-3549
astanton@stantonprm.com / clusk@stantonprm.com
For EQT: Stephanie Greengarten
646-687-6810
stephanie.greengarten@eqtpartners.com
Daniel Yunger / Cathryn Vaulman, Kekst CNC
212-521-4800
daniel.yunger@kekstcnc.com / cathryn.vaulman@kekstcnc.com

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Funds advised by Apax Partners complete the acquisition of Trade Me

Apax

New York and Wellington, New Zealand, May 8, 2019: Funds advised by Apax Partners (the “Apax Funds”), alongside certain co-investors, today announced the completion of the acquisition of 100% of the issued share capital of Trade Me Group Limited for NZ$6.45 per share. The transaction, which values Trade Me at c.NZ$2.56bn (c.US$1.7bn [1]), was unanimously supported by the Board of the company and received strong approval from shareholders.

Founded in 1999, Trade Me is the leading online marketplace and classified advertising platform in New Zealand. The company connects buyers and sellers across its leading vertical marketplaces for automobiles, property, and jobs as well as offering auctions and fixed-priced sales for new and used goods in its horizontal marketplace. Today the business employs over 600 people and is the fourth most visited website in New Zealand with approximately 1.8m visits each day and 7m listings.

Last month, Trade Me announced the appointment of Anders Skoe as Chief Executive Officer who will commence his role in July 2019. Anders brings extensive experience in the digital marketplace sector through his current position as CEO of Finn.no, a similar marketplace and classifieds business to Trade Me operating in Norway. He is also Executive Vice-President of Nordic Marketplaces at Schibsted, the global media group, in which Anders’ responsibilities comprise overseeing Finn.no alongside leading Swedish and Finnish digital marketplace sites Blocket.se and Tori.fi.

Current Trade Me CEO Jon Macdonald will continue in his role until Anders joins and assumes responsibilities. Jon had planned to leave Trade Me at the end of 2018, but at the request of the Board of the company he agreed to stay on while the Apax transaction was pending and to ensure a smooth transition to a new CEO. Jon will subsequently continue to play an important role in the business as a Non-Executive Director.

Mitch Truwit, Co-Chief Executive Officer of Apax Partners, said: “We are excited to partner with Trade Me; the clear leader in its market and one of New Zealand’s most-loved and recognised brands. We look forward to leveraging Apax’s significant experience, gained from other leading digital marketplace businesses around the world, to support management in delivering the company’s next phase of growth. We welcome Anders’ appointment and look forward to benefiting from his strategic insights, along with those of the existing Trade Me team, in the years to come.”

Anders Skoe, incoming Chief Executive Officer of Trade Me, said: “I am delighted to join the team at Trade Me, who have developed the company into a household name in New Zealand. I look forward to using my background and experience to build on Trade Me’s success to date and take the business to even greater heights. I’m also excited to be working with Apax who have an enviable reputation investing in this space.”

Jon Macdonald, current Chief Executive Officer of Trade Me, said “It’s fantastic that Anders is taking on the CEO role here in New Zealand, particularly given his strong experience in leading such a closely comparable business in a similar market. I wish him all the very best, and in my new governance role I’m looking forward to playing a small part in Trade Me’s continued success.”

The Apax Funds have a strong track record investing in digital marketplace businesses, combining extensive digital investment expertise with deep operational value-add. The investment in Trade Me is the eighth for the Apax Funds in this sub-sector. Previous investments include Auto Trader in the UK, Trader Corporation in Canada, Boats Group in the US, Idealista in Spain, and SoYoung and SouFun in China.

[1] Based on FX rates as at 31 Dec 2018.

About Trade Me

Trade Me (www.trademe.co.nz) is the leading online marketplace and classified advertising platform in New Zealand.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts: 

For Trade Me

Logan Mudge, Trade Me | +64 27 477 9486 | logan@trademe.co.nz

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

NZ Media: Geoff Senescall / Barry Akers, Senescall Akers | +64 21 481234 / +64 21 571234 309 5659 | senescall@senescallakers.co.nz / akers@senescallakers.co.nz

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors:

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Global press contact

Andrew Kenny
t: +44 20 7872 6300
andrew.kenny@apax.comGreenbrook Communications
t: +44 20 7952 2000
apax@greenbrookpr.com

Kate Albert
t: +44 20 7872 6300
kate.albert@apax.com

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Hg invests in Litera Microsystems

HG Capital

Transaction will be Hg’s sixth legal and compliance business in the current portfolio

7 May 2019. Hg announces today that it will invest in Litera Microsystems (“Litera”), a leading provider of end-to-end document lifecycle solutions to the legal and life sciences industries worldwide, headquartered in Chicago. Terms of the transaction are not disclosed.

Based in London, Munich and New York, Hg is a specialist private equity investor focused on software and service businesses, committed to building businesses that change the way we all do business, through deep sector specialisation and dedicated operational support.

Litera has developed a leading suite of legal document productivity applications, delivered as an end-to-end platform to more than 1,300 organisations across the globe. Based in Chicago, New York and London, Litera provides a suite of best-in-class productivity tools that help customers to focus on what matters: creating the highest quality documents.

The investment in Litera follows one of Hg’s core investment theses, focused on the secular growth of software suppliers for business-critical functions in the legal and regulatory compliance sector. Hg has been actively following this theme for over 15 years, with Litera representing the sixth legal and compliance business currently in Hg’s portfolio, with others including STP, a leading provider of insolvency and law practice software in Germany; and Mitratech, a leading global provider of Enterprise Legal Management (‘ELM’) software to corporate legal departments, based in Austin, Texas.

Hg’s team has known Litera for several years, recognising it as a business solving mission-critical workflows for its customers, leading to strong recurring revenues and displaying the same growth characteristics as many others in the Hg portfolio. The investment will be made from Hg’s Genesis 8 Fund which, following the completion of this transaction, will be 54% invested across 7 software and service businesses.

Ben Meyer, Jean Baptiste Brian and Hector Guinness at Hg, said: “We have been very impressed with Litera’s great track record of delivering innovative products that change the way legal professionals work, with an unmatched record of excellent customer support and satisfaction. We look forward to working closely with Avaneesh and his team to continue the success of this company”.

Avaneesh Marwaha, CEO of Litera, said: “Over the last few years, Litera has experienced great success in creating a platform for long term growth.  As we looked for the next partner to align the business with, Hg stood out.  Leveraging Hg’s support and their experience in software, legal, life sciences and global expansion will enable Litera to reach new levels of success with confidence, whilst also allowing us to further invest in our people and culture. We look forward to partnering with Hg and developing new products and capabilities to continue to meet the evolving needs of our customers.”

Hg were advised by Evercore (M&A), EY (Financial & Tax), Deloitte (Financing), PWC (Commercial) and Skadden (Legal). Litera were advised by William Blair.

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8S Capital Holdings Announces Voluntary Conditional Cash Offer for 800 Super Holdings

KKR

  • Offer Price of S$0.90 per Share Presents Shareholders an Opportunity to Realise Their Investment in Cash at a Premium to Historical Prices
  • Offeror Does Not Intend to Increase the Offer Price
  • Offeror Has Received Irrevocable Undertakings Representing about 77.6% of the Company’s Share Capital
  • Offeror Intends to Delist and Privatise the Company
  • Global Investment Firm KKR to Provide Financing to Support the Privatisation of the Company by Its Founding Family

SINGAPORE–(BUSINESS WIRE)–May 5, 2019– 8S Capital Holdings Pte. Ltd. (the “Offeror”) today announced its intention to make a voluntary conditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) of 800 Super Holdings Limited (SGX: 5TG) (“800 Super” or the “Company”) other than those Shares held by the Offeror as at the date of the Offer (the “Offer Shares”).

The Offeror intends to offer S$0.90 in cash per Offer Share (the “Offer Price”). This represents:

  • A premium of 30.6% to 800 Super’s 1-month volume weighted average price (“VWAP“) to 26 April 2019, the last full market day1 on which the Shares were transacted prior to the announcement of the Offer
  • A premium of 31.2% to 800 Super’s 3-month VWAP to 26 April 2019
  • A premium of 25.3% to 800 Super’s 6-month VWAP to 26 April 20192

The Offeror does not intend to increase the Offer Price.

Lee Koh Yong, a Director of the Offeror, commented, “The Offer represents an opportunity for shareholders to realise their entire investment in the Shares at a premium to historical trading prices. It also provides shareholders with a means for a clean cash exit that would otherwise not be available given the low trading liquidity of the Shares. At the same time, privatising will enable 800 Super to save on expenses relating to the maintenance of a listed status and allow the Company to focus its resources on operational matters amidst the competitive business landscape.” Lee Koh Yong is also the Executive Chairman of 800 Super.

The Offer will be conditional upon the Offeror having received not less than 90% of the total number of issued Shares as at the close of the Offer3. As at the date of this announcement, Lee Koh Yong and five of his siblings (collectively, the “Lee Family Members”), as well as a vehicle wholly-owned by the Lee Family Members (“YSI”), who together hold approximately 77.6% of the Shares, have provided irrevocable undertakings to accept the Offer and roll all of their Shares into the Offeror by subscribing for ordinary shares in the Offeror4 (the “Subscription”). Following the Subscription, the Lee Family Members and YSI will own all of the ordinary shares of the Offeror5.

If the Offeror succeeds in garnering acceptances exceeding 90% of the total number of issued Shares, it intends to delist the Company.

Leading global investment firm KKR intends to fund the Offer by providing a hybrid combination of debt and structured equity financing to the Offeror, primarily from pools of capital including KKR’s Private Credit Opportunities II fund and proprietary investment vehicles.

Lee Cheng Chye, a Director of the Offeror, said, “Our family welcomes the financing solution provided by KKR. The innovative structure of the deal enables us to continue owning the Company and we look forward to go on working with the Company’s existing management team and employees in partnership with KKR.” Lee Cheng Chye is also an Executive Director and the Chief Executive Officer of 800 Super.

Ashish Shastry, Member & CEO of KKR Southeast Asia, said, “KKR’s primary goal in this region is to work with great entrepreneurs and the founding families of homegrown businesses. We are very flexible on the type of support we provide — in this case, the Lee family required a credit-oriented solution, but we are also working with family groups by making majority or minority equity investments. We are looking forward to doing more with the Lee family and other great entrepreneurial families in Singapore and across Southeast Asia.”

“We are excited to work with the Lee family on a landmark credit deal for KKR in Singapore,” added Brian Dillard, Managing Director & Head of KKR Asia Credit. “This is a prime example of how our team looks to work with leading businesses to provide unique and flexible capital solutions that meet the objectives of our business partners. We hope to continue to leverage our alternative investment franchise and credit capabilities to provide well-tailored financing solutions for other family and business groups in the region.”

An offer document setting out the terms and conditions of the Offer and enclosing the relevant form(s) of acceptance will be despatched to shareholders not earlier than 14 days and not later than 21 days from today.

RHB Securities Singapore Pte. Ltd. (“RHBSEC”) is the financial adviser to the Offeror in connection with the Offer, while WongPartnership LLP is the legal adviser to the Offeror in connection with the Offer.

****

About 800 Super Holdings Limited

800 Super is an established environmental solutions provider for both the public and private sectors in Singapore. The Company’s and its subsidiaries’ environmental services include waste management and waste treatment, cleaning and conservancy, horticultural services and industrial laundry processing.

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.

Responsibility Statement

The directors of the Offeror (including those who may have delegated detailed supervision of this Media Release) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Media Release are fair and accurate and that there are no other material facts not contained in this Media Release, the omission of which would make any statement in this Media Release misleading.

Where any information has been extracted or reproduced from published or otherwise publicly available sources or obtained from the Company, the sole responsibility of the directors of the Offeror has been to ensure, through reasonable enquiries, that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Media Release.

The directors of the Offeror jointly and severally accept responsibility accordingly.

Forward-Looking Statements

All statements other than statements of historical facts included in this Media Release are or may be forward-looking statements. Forward-looking statements include but are not limited to those using words such as “aim”, “seek”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “project”, “plan”, “strategy”, “forecast”, “target” and similar expressions or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” and “might”. These statements reflect the Offeror’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information.

Such forward-looking statements are not guarantees of future performance or events and involve known and unknown risks and uncertainties. Accordingly, actual results may differ materially from those described in such forward-looking statements. Shareholders and investors should not place undue reliance on such forward-looking statements, and neither the Offeror nor RHBSEC undertakes any obligation to update publicly or revise any forward-looking statements.

This media release should be read in conjunction with the full text of the announcement in relation to the Offer dated 6 May 2019 (“Offer Announcement”). A copy of the Offer Announcement is available on www.sgx.com.

_________________________________

1

For the purposes of this media release, “market day” means a day on which the Singapore Exchange Securities Trading Limited (the “SGX-ST”) is open for the trading of securities

2 The figures set out above are based on data extracted from Bloomberg as at the last full market day on which the Shares were transacted immediately prior to the announcement of the Offer
3 i.e. Having received, by the close of the Offer, valid acceptances in respect of such number of Offer Shares which, together with the Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it either before or during the Offer and pursuant to the Offer or otherwise, will result in the Offeror and parties acting in concert with it holding such number of Shares carrying not less than 90% of the total voting rights attributable to the Shares as at the close of the Offer
4 After the successful close of the offer and completion of the compulsory acquisition process
5 Save for 100 ordinary shares held by KKR and prior to the conversion of the convertible preference shares which will be subscribed for by KKR and which will be equivalent to a minority stake in the Offeror on an as-converted and fully diluted basis

Source: KKR

For 8S Capital Holdings Pte. Ltd.:
RHB Securities Singapore Pte. Ltd.
+65 6533 3388

For KKR:
Anita DAVIS
anita.davis@kkr.com
+852 3602 7335

Terence FOO / Bob ONG / WOO Jia Min
terence.foo@newgatecomms.com.sg / bob.ong@newgatecomms.com.sg / jiamin.woo@newgatecomms.com.sg

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Herkules sells Puzzel to Marlin Equity Partners

Herkules
Herkules Private Equity Fund III (“HPEF III” or “Herkules”) is pleased to announce the sale of Puzzel AS (“Puzzel”). On 12 April 2019, HPEF III entered into an agreement to sell Puzzel, a leading European provider of cloud-based contact center software solutions, to Marlin Equity Partners.
During the Herkules ownership, Puzzel was transformed into a SaaS business. Significant investments were made into the software platform. Today, the company has a comprehensive multi-channel CCaaS solution that is both scalable and flexible, and designed to support contact centers of all sizes. The company combines its omni-channel technology with artificial intelligence capabilities to provide comprehensive, end-to-end customer interaction solutions in an age of digitization.As part of the Herkules value creation plan, Sales & Marketing was strengthened and Puzzel has experienced strong software growth across Europe that has been fueled by feedback and advocacy from market-leading customers.
In 2018, Puzzel was recognized as a Challenger in the Gartner Magic Quadrant report for Contact Center as a Service in Western Europe for the fourth consecutive year given its strong growth, functional capabilities, strengths in standards and compliance, customer service and support.Puzzel is headquartered in Oslo, Norway, with offices in six European markets including the U.K and the company serves more than 900 customers across 40 countries.“Puzzel’s leading position in the market, knowledgeable employees and pioneering technology platform positions them well to continue to successfully scale their business,” says Gert Munthe, Partner at Herkules Capital.
 

The exit process was advised by Carnegie Investment Bank, Wiersholm, PwC, and BCG. It was strong interest from both Industrial buyers and financial sponsors.

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IndiGrid to Acquire Electricity Transmissions Assets Following KKR Investment

KKR

  • Asset acquisition from Sterlite Power to boost IndiGrid’s AUM to INR17,000 crores (US$2.5 billion)
  • Transaction marks KKR’s first Infrastructure investment in Asia Pacific

MUMBAI–(BUSINESS WIRE)–May 4, 2019– India Grid Trust (“IndiGrid” or the “InvIT”), India’s leading infrastructure investment trust, today announced the closing of a preference unit issuance worth INR2,514 crores (US$363 million). As part of the transaction, KKR and GIC have invested INR 1084 crores (US$157 million) and INR 980 crores (US$142 million), respectively, to collectively own 42% of IndiGrid’s outstanding units. KKR has also applied to become a Sponsor of IndiGrid and plans to acquire an additional 15% of IndiGrid’s total units from Sterlite Power. Following the closing of the transactions, KKR and GIC will collectively own approximately 57% of IndiGrid’s outstanding units.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190504005008/en/

In a separate transaction, KKR will additionally acquire a majority shareholding in Sterlite Investment Managers Limited, the investment manager owned by Sterlite Power. Sterlite Power established IndiGrid in 2016 and will remain a Sponsor and Project Manager of IndiGrid.

With the capital infusion provided by the new unit issuance, IndiGrid will purchase five electricity transmission assets worth INR11,500 crores (US$1.66 billion) from Sterlite Power. A share purchase agreement for the two operational transmission assets — NRSS XXIX and OGPTL — has been signed, while three additional assets will be purchased once they become operational. IndiGrid is an infrastructure investment trust established to own inter-state power transmission assets in India. Following the completion of the proposed acquisitions, IndiGrid’s AUM will rise to INR17,000 crores (US$2.5 billion).

The InvIT currently manages a portfolio of six electricity transmission assets with a total network of power transmission lines that span more than 3,361 circuit kilometers across nine Indian states. The purchase of Sterlite Power’s electricity transmission assets will significantly expand IndiGrid’s portfolio and better enable it to address India’s infrastructure needs.

The transactions mark KKR’s first investment through its Asia Pacific Infrastructure strategy. KKR makes the investment through a proprietary investment vehicle. Each transaction is subject to customary closing conditions, including regulatory and unitholder approvals.

Harsh Shah, CEO of IndiGrid, said, “We welcome KKR, GIC and our other investors and who have showcased their confidence in IndiGrid, and we look forward to benefiting from KKR and Sterlite Power’s expertise and experience in investment and asset management. With this new capital investment, we will reach our goal of INR17,000 crores of assets under management and are well on our way to achieving INR 30,000 crores of assets under management by 2022 while also providing stable and predictable returns to our investors.”

David Luboff, Member & Head of Asia Pacific Infrastructure at KKR, added, “Asia Pacific is a core focus for KKR’s global infrastructure strategy, and India is a key market for us in the region given its dynamism, the scale of investment opportunities and its crucial need for capital solutions. We’re pleased to have chosen leading infrastructure providers like IndiGrid and Sterlite Power as our first investment behind our Asia Infrastructure strategy, and look forward to supporting IndiGrid’s growth, providing further solutions-oriented opportunities and playing an important role in addressing the infrastructure need.”

“India holds a tremendous opportunity for infrastructure investment, in the trillions of dollars in the coming decades,” added Sanjay Nayar, Member & CEO of KKR India. “We believe addressing the country’s infrastructure needs is a priority for the government, industries and communities across India alike, and we are excited to make our foray into this market and contribute as a solutions provider. IndiGrid is a well-managed infrastructure platform and Sterlite Power is a world-class asset manager. We look forward to working together with these teams to grow this platform and support infrastructure development in the coming years.”

Pratik Agarwal, Group CEO of Sterlite Power, said, “Working with an established global investor like KKR advances our mission of becoming Asia’s leading infrastructure investment trust. We believe now is the optimal time to invest in electricity transmission assets because the global clean energy revolution has created unprecedented demand for new transmission infrastructure. Our ability to grow the IndiGrid platform comes at a valuable time, and this opportunity further enables Sterlite Power to focus on its core skillset of developing greenfield assets in India, Brazil and beyond.”

Edelweiss and EY are acting as Indigrid and KKR’s M&A advisors, respectively. Cyril Amarchand Mangaldasserves as Indigrid’s legal counsel and PWC and EY act as Indigrid’s Due Diligence and Tax advisors, respectively. AZB & Partners and Simpson Thacher & Bartlett serve as KKR’s legal counsel, with EY acting as accounting and tax advisor. Khaitan & Co acts as Sterlite Power’s legal counsel.

****

About Sterlite Power

Sterlite Power is a leading global developer of power transmission infrastructure with projects of over 12,500 circuit kms and 20,500 MVA in India and Brazil. With an industry-leading portfolio of power conductors, EHV cables and OPGW, Sterlite Power also offers solutions for upgrading, uprating and strengthening existing networks. The Company has set new benchmarks in the industry by use of cutting-edge technologies and innovative financing. Sterlite Power is also the sponsor of IndiGrid, India’s first power sector Infrastructure Investment Trust (“InvIT”), listed on the BSE and NSE.

For more details, please visit www.sterlitepower.com

About IndiGrid

IndiGrid [BSE: 540565 | NSE: INDIGRID] is the first Infrastructure Investment Trust (“InvIT”) in the Indian power sector. IndiGrid owns 6 operating projects consisting of 13 transmission lines with 3,361 ckms length and 3 substations with 7,000 MVA transformation capacity.

For more details, please visit www.indigrid.co.in

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

For Sterlite Power
Balaji Krishnaswami +91-9971757474
Balaji.krishnaswami@sterlite.com

For IngiGrid
Investor.relations@indigrid.co.in

For KKR
KKR Asia
Anita Davis, +852 3602 7335
Anita.Davis@KKR.com

KKR Americas
Kristi Huller / Cara Major, +1 212-750-8300
Media@KKR.com

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

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H.I.G. WhiteHorse Provides Growth Capital to Risparmio Casa

H.I.G. Europe

LONDON – April 29, 2019 – H.I.G. WhiteHorse, a credit affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management announced today that it has provided a growth capital solution to Risparmio Casa, a leading Italian drugstore chain based in Pomezia, Italy.

Established over 30 years ago by the Battistelli family, the company has exhibited strong growth and industry-leading performance with 2018 revenues in excess of 350 million Euros. Risparmio Casa operates over 100 locations with an average area of more than 2,500 sqm, resulting in a dominant presence in Northern and Central Italy and Sardinia. Its leadership is grounded on a commercial strategy of every-day affordable prices and a unique and broad product assortment, offering its customer base a wide range of personal care, household and non-food products.

With this transaction, H.I.G. will support the Battistelli family in continuing to strengthen the company’s leading position in the Italian drugstore industry and achieve its growth plans.

Guido Lorenzi, Principal at H.I.G. WhiteHorse, commented: “This transaction demonstrates H.I.G. WhiteHorse’s willingness to invest in and support leading Italian companies in cooperation with entrepreneurial families. H.I.G. is delighted to partner with Risparmio Casa and the Battistelli family, committing its resources, experience and network to support the next stage of growth of the company”.

Fabio Battistelli, co-founder of Risparmio Casa, commented: “We have built Risparmio Casa into one of the most established players in the Italian retail drugstore market and are looking forward to further consolidating our leadership position and strengthening our company”.

Stefano Battistelli, co-founder of Risparmio Casa, commented: “We welcome H.I.G. WhiteHorse into Risparmio Casa, which will be instrumental in supporting the next phase of our growth, building upon our existing strengths and value proposition”.

About H.I.G. WhiteHorse
H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. Credit facilities typically range from €10 million to €75 million for companies with revenues of €40 million or more. For more information, please refer to the WhiteHorse website at: www.higeurope.com/whitehorse.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with European offices in London, Hamburg, Madrid, Milan, Paris, and U.S and Latin American offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, Stamford, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Contact:

Guido Lorenzi
Principal
glorenzi@higcapital.com

H.I.G. WhiteHorse
10 Grosvenor Street
London W1K 4QB
United Kingdom
P. +44 (0) 20 7318 5700
F. +44 (0) 20 7318 5749
www.higeurope.com/whitehorse

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Partners Group to acquire Norwegian midstream infrastructure company CapeOmega

Partners Group

Partners Group, the global private markets investment manager, has agreed to acquire 100% of the equity in CapeOmega (“CapeOmega” or “the Company”), a leading offshore infrastructure platform in Norway, on behalf of its clients. The Company is being acquired from private equity investor HitecVision in a transaction that values CapeOmega at around EUR 1.2 billion.

Formed in 2014, CapeOmega provides essential infrastructure for transporting natural gas produced on the Norwegian Continental Shelf (“NCS”). The Company holds significant stakes in some of Norway’s key midstream infrastructure: Gassled, the world’s largest offshore gas transmission system; Nyhamna, one of three key gas processing plants in Norway; and Polarled, a 480km pipeline that runs from the Aasta Hansteen field to Nyhamna. CapeOmega’s midstream investments benefit from high barriers to entry with no competing infrastructure and no pipe-to-pipe competition.

The NCS, which supplies around 27% of Europe’s gas demand,[1] has the largest gas reserves and resources in the North Sea, with only one third of the resources in production. Partners Group will work closely with CapeOmega’s management team, led by CEO Gisle Eriksen, to further expand in offshore infrastructure and related assets, with a focus on greenfield developments and brownfield acquisitions.

Esther Peiner, Managing Director, Private Infrastructure Europe, Partners Group, states: “Natural gas is increasingly adopted as a complementary fuel source to renewables in the context of the retirement of coal-fired and nuclear power plants across Europe, and the NCS is poised to benefit from this demand tailwind. Partners Group welcomes the opportunity to partner with a well-respected and experienced management team to realize the associated infrastructure expansion potential for CapeOmega in one of Europe’s key natural gas supply hubs.”

Partners Group already owns a sizeable portfolio of midstream infrastructure assets on behalf of its clients. The firm’s most recent transactions in this sub-sector include its 2018 investment in Oklahoma, US-based Superior Pipeline Company, a full-service midstream energy company; and its 2016 investment in the construction of Arcanum Infrastructure (previously known as Raven), an ethylene to butene-1 processing facility located in the US state of Texas.

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