Category Archives: News

Gimv acquires Medi-Markt Homecare Service and Medi Markt Service Nord Ost: market leadership in medical supplies to be further expanded after the merger

GIMV

As part of a succession plan, Gimv is investing in the two German companies Medi-Markt Homecare-Service GmbH and Medi Markt Service Nord Ost GmbH as well as a number of affiliated companies. These two leading service providers in incontinence care will continue to grow in the coming years as a newly formed group with the support of Gimv.

Antwerp / Munich / Mannheim / Isenbüttel, 18 October 2018, 07:30 am – European investment company Gimv has reached an agreement on the takeover of the majority of both Medi-Markt Homecare-Service GmbH based in Mannheim as well as Isenbüttel-based Medi Markt Service Nord Ost GmbH. These transactions are part of a succession plan for both companies. Gimv is thus expanding its Health & Care portfolio with a leading supplier of medical supplies in Germany, which is expected to continue to grow in the coming years. The remaining shares will be acquired by the newly appointed CEO of the Medi Markt Group,Markus Reichel. The transaction is subject to customary approval requirements and is expected to close within a few weeks.

The two companies and their affiliates, which together employ around 225 people, will form one group as of this transaction and will operate jointly under the Medi-Markt brand, headquartered in Mannheim. Markus Reichel, formerly managing director of Medi-Markt Homecare-Service GmbH, will become managing director of the new group and a co-shareholder. The companies are specialised mail-order providers of homecare supplies with a particular focus on absorbing incontinence. Further product groups include revulsive incontinence, diabetes control, stoma care, enteral nutrition, disinfection and protection as well as personal hygiene, supplying a total of c.12,000 different products. The companies distribute branded and private label products. Medi-Markt is one of the major providers in the country for incontinence aids and stoma care. The group has a combined annual turnover of more than 50 million EUR.

Medi-Markt supplies around 150,000 end-consumers annually. The majority of the products are reimbursed by health insurances, for whom Medi-Markt has been a reliable partner for many years.

“Together with our new growth partner Gimv, we want to further expand our product offering and advance into adjacent segments. We are also considering acquisitions of suitable companies,” explains Markus Reichel, Managing Director of Medi-Markt Homecare-Service GmbH and future CEO of the group. The business benefits from the demographic change since Medi Markt primarily caters an ageing population: today c. 7 million people suffer from incontinence in Germany. This number is expected to further increase to nine million over the next 20 years. “Medi-Markt’s high quality products and the company’s customer-centric approach enable many people to maintain a more independent lifestyle. At the same time, due to lean organizational structures, the company improves efficiency of care,” says Philipp v. Hammerstein, Partner at Gimv in the Health & Care segment in Munich. “We are l ooking forward to continuing the success story of these two leading specialists, while leveraging further potential related to the merger. Together with the experienced management team, we will focus on organic growth as well as on buy-and-build opportunities.”

The new investment marks Gimv’s seventh acquisition in the German-speaking healthcare market. This means that Gimv currently has 20 participations in companies in the healthcare and life sciences sector. This acquisition further underpins Gimv’s position as one of the most active European investors in the healthcare industry. The portfolio also includes several clinic and practice groups, medical technology and biotech companies.

Further details about the transaction will not be published.

 

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DIF invests in Australian waste-to-energy facility

DIF

Sydney, 17 October 2018 – DIF is pleased to announce that a consortium comprising DIF, Macquarie Capital and Phoenix Energy Australia has achieved financial close on a greenfield waste-to-energy facility in Kwinana, near Perth, Australia. DIF has acquired a 60% shareholding in the project through two of its funds: DIF Infrastructure IV and DIF Infrastructure V.

Once operational the facility will divert up to 400,000 metrics tons of household, commercial, and industrial waste from landfills each year, representing a quarter of Perth’s post-recycling rubbish. The facility will benefit from long term municipal waste supply agreements with Rivers Regional Council and the City of Kwinana, two regional councils located in the Perth region.

At the facility the waste will undergo thermal treatment, whereby the recovered energy is converted into steam to produce electricity. Metallic materials will be recovered and recycled, while other by-products of the process will be reused as construction materials. At full capacity, the facility will reduce carbon dioxide emissions by more than 200,000 metric tons per year, the equivalent of taking 43,000 cars off the road.

Acciona, a global leader in waste-to-energy facilities, will design and construct the facility. The facility will use Keppel-Seghers moving grate technology, a proven technology which is used in over 100 waste-to-energy facilities across the globe. During the construction phase, more than 800 jobs will be created including apprenticeships and a range of sub-contracting and supply opportunities for local businesses. Construction will commence this month, while start of operations is planned for the end of 2021.

Once operational Veolia, which operates over 60 waste-to-energy plants across the globe, will operate and maintain the facility under a 25-year agreement. During the operational phase approximately 60 full-time positions will be created.

Managing Director of DIF Australia, Marko Kremer, added: “DIF is excited to invest in this landmark waste-to-energy facility in Australia and looks forward to continuing its contribution to the sector going forward. European countries have long embraced the conversion of waste into energy, which has proven to deliver multiple benefits in terms of managing waste and contributing to a sustainable and secure energy supply.”

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 over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu or further information on DIF.

For further information on the project, please contact:

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

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Nordic Aviation Capital adds new strong minority shareholder, GIC, to further support growth ambitions

eqt

  • GIC, Singapore’s sovereign wealth fund, is set to join NAC’s founder, Martin Møller and EQT VI as a significant minority investor in NAC
  • The transaction will comprise a partial sale by the existing shareholders and new capital to further strengthen NAC’s balance sheet
  • EQT VI will remain the largest shareholder and will continue to support NAC in solidifying its position as the global leader in regional aircraft leasing
  • Founder Martin Møller remains a significant shareholder and continue as Chairman of the Company

NAC, Martin Møller and EQT VI today announced that GIC, a leading long-term global investor with significant aircraft leasing experience, is to become a significant minority investor in Nordic Aviation Capital (“NAC” or “the Company”). The transaction will be executed by an affiliate of GIC.

Since the partnership in 2015 between Martin Møller and EQT VI, NAC has transformed from being a lessor focused on turboprop aircraft into the world’s largest regional aircraft lessor, and the fourth largest commercial aircraft leasing company by investing more than USD 4.5 billion in the business. During that period, NAC has more than doubled its operating lease income and added more than 30 new customers. Today the Company has a fleet of 468 regional aircraft, a total asset base of USD 8.0 billion and is uniquely positioned to take further advantage of the market opportunities in the attractive regional aircraft space.

“It is nearly three years since we partnered with EQT VI to support our growth strategy. Together, we continued our profitable growth and benefitted from the partnership’s global perspective, experience and financial strength. GIC brings further financial strength and commercial capabilities that will allow us to take advantage of expansion opportunities as they arise”, said Martin Møller, founder and Chairman of NAC.

“We have delivered on our key strategic objectives, broadened our product offering and expanded NAC’s operations significantly over the last years. Bringing in a new investor is a step further on the journey of consolidating NAC’s position as the world’s leading and preferred regional lessor of choice for our customers, OEMs, capital markets investors and our dedicated employees. Partnering with GIC will further strengthen our Company’s commercial and financial position”, Søren Overgaard, CEO of NAC elaborated.

“EQT VI is excited to welcome GIC as a long-term investor and a strategic partner given their significant aviation leasing experience. With the investment from GIC, NAC will be able to further enhance its growth journey by cementing its market position as the world’s largest regional aircraft lessor”, said Morten Hummelmose, Partner at EQT Partners and Investment Advisor to EQT VI.

“NAC has a strong track record of growth and market leadership in a segment with secular growth drivers. As a long-term investor, we look forward to partnering with Martin Møller and EQT and supporting the future growth of the company”, said Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC.

KIRKBI Invest A/S, an investor in EQT VI, will continue to co-invest in NAC alongside EQT VI.

Contacts
Søren Overgaard, CEO of NAC and primary NAC press contact +45 7651 1200
Morten Hummelmose, Partner at EQT Partners, Investment Advisor to EQT VI +1 646 687 6814
Mah Lay Choon, Senior Vice President, Communications, GIC +65 98389425; Wendy Wong, Senior Vice President, Communications, GIC +65 97694302
EQT press contact +46 8 506 55 334

About NAC
NAC is the industry’s leading regional aircraft lessor serving over 73 airline customers in 49 countries. The company provides aircraft to well-established carriers such as British Airways, Air Canada, LOT, Azul, Lufthansa, Alitalia, Garuda, Flybe, Aeroméxico and airBaltic as well as major regional carriers including Air Nostrum and Widerøe. NAC’s current fleet consists of 468 owned and managed aircraft. NAC is the largest owner and lessor of both ATR and Bombardier aircraft in the world.
In the financial year ending 30 June 2018, NAC generated a business performance result of USD 160 million.

For further information please visit www.nac.dk

About EQT
EQT is a leading  investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

For further information please visit www.eqtpartners.com

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide.

For more information about GIC, please visit www.gic.com.sg

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KKR to Acquire Minnesota Rubber and Plastics from Norwest Equity Partners

KKR

Deal Represents KKR’s Second Industrials Middle Market Transaction

MINNEAPOLIS & NEW YORK–(BUSINESS WIRE)–Oct. 12, 2018– Quadion LLC, d.b.a. Minnesota Rubber and Plastics(“MRP” or the “Company”), a leading provider of elastomer and thermoplastic solutions, announced today that it is being acquired by KKR, a global investment firm, from Norwest Equity Partners (“NEP”), a Minneapolis-based middle-market equity investment firm. This transaction marks KKR’s second acquisition of a middle-market business in the industrials sector and is being funded through KKR’s Americas XII Fund. Financial details of the transaction were not disclosed.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20181012005034/en/

MRP offers highly engineered elastomer and thermoplastic solutions for medical, water, industrial and other end markets globally. For over 70 years, the Company has built a strong reputation for its ability to design, develop and manufacture products for harsh environments, tight tolerances and technically demanding applications, including multi-material solutions.

“We have been very impressed by MRP’s innovative technologies and differentiated solutions, including over 1,000 custom rubber, plastic and silicone formulations, and tremendous technical resources committed to delivering market leading innovations for their customers. We’re proud to support the Company and see considerable opportunity for it to continue to grow,” said Pete Stavros, Member of KKR and Head of KKR’s Industrials investment team. “As with our other industrials portfolio companies, we plan to implement a broad-based employee engagement model.”

Over the past seven years, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The cornerstone of the strategy has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return directly alongside KKR. KKR also supports employee engagement by investing in training across multiple functional areas, driving improvements in worker safety and by partnering with the workforce to give back in the community.

Jay Ward, MRP CEO, stated, “NEP provided exceptional support and strategic insights to build a strong foundation for growth. We are excited to work with KKR, a global leader who has industrial expertise and a shared vision, to capitalize on this foundation and continue to provide our valued customers integrated elastomer and plastic solutions in critical applications.”

“MRP is a great example of our firm’s investment strategy. Over the last six years, we worked closely with management to significantly impact the performance of the Company to position it for the next chapter of growth and success. KKR is a wonderful fit for MRP,” shared Tim DeVries, NEP Managing Partner.

This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018. Fully committed financing has been led by sole arranger KKR Capital Markets and is being provided by Crescent Mezzanine Partners and PSP Investments Credit USA LLC. KKR was advised in the transaction by Benesch, Friedlander, Coplan & Aronoff LLP. MRP and NEP were advised by Houlihan Lokey, Skadden, Arps, Slate, Meagher & Flom LLP, and Ballard Spahr LLP.

About Minnesota Rubber and Plastics

Minnesota Rubber and Plastics is a global leader in elastomer and thermoplastic solutions, with engineering and manufacturing facilities across North America, Europe and Asia. With deep materials science expertise, MRP offers full service capabilities that range from engineering mission-critical components to providing complete manufacturing solutions for technically demanding applications. For more information, please visit www.mnrubber.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships 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.

For more information about KKR’s Industrials team and the employee engagement model please visit the KKR Industrials page on LinkedIn, @KKR_Industrials on Twitter and KKR Industrials on YouTube.

About Norwest Equity Partners

Norwest Equity Partners (NEP) is a leading middle market investment firm focused on partnering with business owners to build companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP offers creative and flexible transaction solutions and believes in long-term relationships. Based in Minneapolis, Minnesota, NEP focuses on equity investment opportunities for growing and profitable companies within agriculture, business services, consumer, distribution, diversified industrials, energy, and healthcare. For additional information about NEP, please visit www.nep.com.

Source: KKR

Media:
KKR
Kristi Huller or Samantha Norquist, 212-750-8300
media@kkr.com
or
Minnesota Rubber and Plastics
Mary Pat Pearson, 952-927-2133
mpearson@quadion.com
or
Norwest Equity Partners
Heather Goodwin, 612-215-1676
hgoodwin@nep.com

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KKR Completes Acquisition of Envision Healthcare Corporation

KKR

NASHVILLE, Tenn.–(BUSINESS WIRE)– Envision Healthcare Corporation (“Envision” or the “Company”) (NYSE: EVHC) today announced the completion of the previously announced acquisition of Envision by global investment firm KKR.

As a result of the completion of the merger, Envision has become a wholly owned subsidiary of funds affiliated with KKR, and Envision stockholders will receive an amount in cash equal to $46.00 per share of Envision common stock. As a result of the completion of the merger, shares of Envision’s common stock ceased trading on the NYSE prior to the opening of the NYSE today.

About Envision Healthcare Corporation

Envision Healthcare Corporation is a leading provider of physician-led services and post-acute care, and ambulatory surgery services. At June 30, 2018, we delivered physician services, primarily in the areas of emergency department and hospitalist services, anesthesiology services, radiology/tele-radiology services, and children’s services to more than 1,800 clinical departments in healthcare facilities in 45 states and the District of Columbia. Post-acute care is delivered through an array of clinical professionals and integrated technologies which, when combined, contribute to efficient and effective population health management strategies. The Company owns and operates 261 surgery centers and one surgical hospital in 35 states and the District of Columbia, with medical specialties ranging from gastroenterology to ophthalmology and orthopedics. In total, the Company offers a differentiated suite of clinical solutions on a national scale, creating value for health systems, payors, providers and patients. For additional information, visit www.evhc.net.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, growth equity, energy, infrastructure, real estate and credit, with strategic manager partnerships 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.comand on Twitter @KKR_Co.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181011005441/en/

Envision Healthcare Corporation
Bob Kneeley, 303-495-1245
Vice President, Investor Relations
bob.kneeley@evhc.net
or
KKR
Kristi Huller, 212-750-8300
Cara Major, 212-750-8300
media@kkr.com

News Provided by Acquire Media

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State’s mining industry holdings transferred to Finnish Minerals Group

Tesi

10.10.2018

The Committee on Economic Policy of Finnish Government decided in May 2018 to endorse the reorganising of the State’s mining industry holdings into Finnish Minerals Group with the aim to advance the development of Finland’s battery and mining cluster. Pursuant to this decision the shares in Sotkamo Silver AB and Keliber Oy as well as a convertible loan and related option rights entitling to shares in Ferrovan Oy have been transferred from Finnish Industry Investment Oy (Tesi) to Finnish Minerals Group.

Ferrovan Oy is targeting to construct a metal production plant for extraction of vanadium from LD-slag, a by-product of steel production. Finnish Minerals Group has previously announced its participation in a EUR 7.5 million financing round of Ferrovan Oy together with Ferrovan’s biggest shareholders and financiers. Finnish Minerals Group holds a 14% stake at Ferrovan Oy via convertible loans.

Keliber Oy is a Finnish mining company with an objective of producing high-purity lithium chemicals especially for the needs of the international lithium battery market. Finnish Minerals Group holds a 17.6% stake in Keliber.

Sotkamo Silver AB is the parent company of the Sotkamo Silver group, which consists of the parent and its wholly-owned subsidiary in Finland, Sotkamo Silver Oy. Sotkamo Silver develops silver, gold and zinc deposits in the Nordic region and its main development project is Silver Mine project in the municipality of Sotkamo. Sotkamo Silver is currently constructing a Silver Mine, which mine is planned to be in production during early 2019. Finnish Minerals Group holds a ~2.05% stake in Sotkamo Silver.

Inquiries
Matti Hietanen, CEO, Finnish Minerals Group +358 40 8238806, matti.hietanen@mineralsgroup.fi

Finnish Minerals Group is a special-purpose company developing the Finnish battery and mining ecosystem. We operate as a long-term strategic owner of Terrafame Oy and other battery and mining cluster holdings, manage the mining and battery investment programme, develop battery value chain initiatives, and coordinate R&D projects.

 

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KR, IGIS and NPS to Acquire Prime Real Estate Asset in Seoul’s Gangnam Business District

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KKR

SEOUL, South Korea–(BUSINESS WIRE)–Oct. 9, 2018– KKR, a leading global investment firm, together with IGIS Asset Management (“IGIS”), the largest real estate fund manager in Korea, announced today that they have made an investment along with the National Pension Service of Korea (“NPS”) to acquire a mixed-use real estate project (the “Asset”) under development in the Gangnam Business District (“GBD”) in Seoul, South Korea. The project, to be purchased from a consortium led by local engineering firm Daor E&C, is expected to cost approximately KRW 2.1 trillion(US$ 1.9 billion) in total, inclusive of purchase price and further costs to complete. Additional terms of the transaction were not disclosed.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20181009006196/en/

The Asset is located in the heart of the GBD at the intersection of Teheran-ro and Eonju-ro on the former Renaissance Hotel site. Currently under construction, the property will primarily consist of prime grade office space, amenity retail space and a five-star hotel, with a gross floor area of 239,188 square meters and net leasable area of 121,707 square meters. A 20-year master lease agreement for the 263-room hotel has been signed with Shinsegae Chosun, an experienced and best-in-class hotel operator.

“We are thrilled to be investing in what we believe will be an iconic property in an excellent location, and to be teaming up with outstanding partners including IGIS and NPS to do so. We look forward to continue building on our global real estate platform by making quality real estate investments in South Korea and throughout Asia Pacific more broadly,” said John Pattar, Member & Head of Real Estate Asia at KKR.

“We are excited to make this investment along with world-class investment firms KKR and NPS. We expect to develop the property not just as the best real estate asset in South Korea, but also as a landmark building in the global real estate market,” said Sock-woo Jung, President of Domestic Investment at IGIS.

KKR’s investment is being funded from KKR Asian Fund III. The investment is KKR’s third real estate investment in South Korea. Previously KKR invested in The-K Twin Towers, a prime office complex located in Seoul’s Central Business District, in June 2014. The-K Twin Towers was sold to Samsung SRA in January 2018 at a record price.

Since 2011, KKR has committed approximately US$ 2 billion in equity and debt across nearly 50 real estate transactions in Asia Pacific markets including South Korea, Australia, China, India, New Zealand and Singapore. The firm has a dedicated team of approximately 20 real estate professionals based in Asia Pacific spanning both the equity and credit strategies.

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 manager partnerships 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 IGIS

IGIS, the largest integrated real estate investment and asset management firm in Korea, currently manages real estate assets valued at more than KRW 22.6 trillion (US$ 20 billion; gross asset value). In August 2018, the Institutional Real Estate, Inc. (IREI) named IGIS as the fourth largest real estate manager in Asia in terms of assets under management.

Source: KKR

Media
For KKR Asia:
Cara Major, +852-3602-7335
Cara.Major@KKR.com
or
For KKR South Korea:
Gaeun Choi, +82-2-6951-3546 / +82-10-9186-1324
KKR@thesignature.co.kr

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ARDIAN sells ADA INTERNATIONAL to MOONLAKE CAPITAL

Ardian

Growth and internationalization strategy successfully implemented through targeted acquisitions, with revenue more than doubling

Frankfurt am Main / Kehl, October 8, 2018 – Ardian, a world-leading private investment house, announced today that it has entered into an agreement with Moonlake Capital to sell ADA Cosmetics Holding GmbH (ADA International), Europe’s leading manufacturer of high-quality hotel cosmetics. The management team will remain shareholders of the company. Financial terms will not be disclosed.

Ardian Expansion Fund III acquired the company in 2014. Since then, the business has grown via buy-and-build strategy through the acquisitions of Scandinavian Amenities, Pacific Direct and RDI Malaysia, as well as through significant organic growth. As a result, ADA International has advanced from local market leader in the DACH region to the market leader in Europe. It has also significantly strengthened its presence in Asia and the Middle East. Under Ardian’s ownership, sales have more than doubled to over EUR 110 million with profitability increasing steadily. The customer base has grown from around 15,000 to over 25,000 hotels, and the workforce has doubled to around 700 employees.

ADA International was founded in 1979 in Kehl, Germany. Its core business is the production and sale of high-quality personal care products such as shampoo, shower gel, soap, body lotion and accessories for the hotel industry. In addition to its own established brands such as Naturals, Pure Herbs and Hydro Basics, ADA International’s product range also includes hotel cosmetics products from leading international brands such as Chopard and Bulgari. The business model is based on products that meet the highest quality standards and longstanding customer relationships that generate repeat revenues. ADA International’s customer base ranges from independent hotels to international hotel chains in the three, four and five star segment. In addition to the hotel industry, ADA International also services cruise ships and airlines.

Wilhelm B. Könning, CEO of ADA International, said: “In the past four years, we have significantly expanded our position as the market leader for high-quality hotel cosmetics in Europe. In the German-speaking region, our market share is now more than 50 percent. In the UK, this figure is only slightly lower, and in France we are the second largest. Together with Ardian, we have expanded into other important sales markets such as Asia. We have also broadened our innovative product range accordingly to include fragrances, packaging and organic cosmetics to meet international customer needs. Ardian was an important partner and provided us with tremendous support on this path. We are now looking forward to continuing to pursue our growth strategy with Moonlake Capital.”

Dirk Wittneben, Managing Director at Ardian, added: “ADA International has evolved very well. The company’s management team has done an excellent job in implementing the growth strategy and integrating the acquired companies.”

Marc Abadir, Managing Director at Ardian, said: “Thanks to the innovative and high-quality products and the right feel for market trends and customer wishes, ADA International also has great potential for further international growth. ADA International is ideally positioned to become the leading independent global player.”

Philip Wack, Managing Partner of Moonlake Capital, said: “ADA International is a leading player in the highly attractive and resilient niche market of hotel cosmetics. We look forward to partnering with the management team led by Wilhelm B. Könning to support the business in its further growth ambitions.”

ABOUT ADA INTERNATIONAL

ADA International develops, produces and sells high-quality hotel cosmetics and innovative dispenser solutions to three, four and five star hotels, internationally. Based in Kehl, Germany, the company has around 700 employees worldwide and is active in more than 50 countries. ADA International is one of the leading suppliers in this segment with a strong product portfolio of trendy lifestyle concepts, exclusive luxury and designer brands as well as modern dispenser systems.
www.ada-international.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$72bn 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 530 employees working from fourteen 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). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT MOONLAKE CAPITAL

Moonlake Capital is a newly founded investment firm based in Austria with an associated office in the UK. It combines decades of entrepreneurship with extensive Private Equity investment and execution experience. It exclusively invests its own funds. In partnership with strong management teams, Moonlake Capital seeks to contribute to the sustainable and successful development of its investments. With permanent capital, the firm can be a long-term partner for its portfolio firms. Through its enduring partnership and capital commitment, Moonlake Capital is able to support its investments in their quest to realise their full growth potential. The firm strives to be a socially responsible investor, working in partnership with customers, suppliers, employee representatives and unions.
www.moonlakecap.com

ADVISORS TO THE TRANSACTION

Ardian Team: Dirk Wittneben, Marc Abadir, Yannic Metzger, Nicolas Münzer
M&A: GCA Altium
Financial: Deloitte
Commercial: EY-Parthenon
Legal Corporate: Willkie Farr & Gallagher
Tax: EY Tax, Taxess

PRESS CONTACT

ARDIAN
Headland
Martin Robinson
Tel: +44 020 3805 4828
mrobinson@headlandconsultancy.com

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ARDIAN acquires a majority stake in INULA, the european leader of natural therapies

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Ardian

Paris, October 3, 2018 – Ardian, a world-leading private investment house, today announces that it has signed an agreement to acquire a majority stake in Inula Group from Vendis Capital, Dominique Baudoux (Founder & Chairman) and Sergio Calandri (CEO).

Inula Group was created following the merger of Pranarôm and HerbalGem, two pioneering laboratories specialized in natural therapies, founded in 1985 and 1986 respectively. Inula is a key player in the herbal remedies market, specializing in fast growing sub-sectors such as aromatherapy, gemmotherapy and Bach flowers, through three brands: Pranarôm, HerbalGem and Biofloral. Thanks to its strong scientific approach and the quality of its products, the Group has experienced significant growth over the past years and is now present in more than 25 countries, with leading positions in France, Belgium, Spain, Italy and the USA.

As part of this transaction, Sergio Calandri, CEO of Inula, will reinvest alongside Ardian. Vendis Capital and Pranarôm’s Founder, Dominique Baudoux, should also continue to support the Group.

Bruno Ladrière, Managing Director, Ardian Buyout, and Daniel Setton, Director, said: “We are pleased to be partnering with Inula’s team and we thank them for the confidence they expressed during this operation. We look forward to supporting them in the next phase of the company’s development, helping them reinforce Pranarôm, HerbalGem and Biofloral in their segments in Europe and globally. This transaction is a good example of Ardian’s expertise in supporting SMEs in their ambitious growth strategy.”

Cedric Olbrechts, Partner at Vendis Capital and Dominique Baudoux Founder & Chairman of Inula said: “During our seven-year partnership, we worked together to create a strong dynamic, respecting the role and skills of each other. As a result, the Group has become a leader in natural medicines in Europe, has expanded its international presence, has opened new distribution channels and has developed new products, under the brand Pranarôm but also thanks to the successful integrations of HerbalGem, Biofloral and Veriditas. We are very happy and proud to have achieved the plan we set up in 2011. All these successes belong above all to the high quality and passionate team led by Sergio Calandri. We would like therefore to warmly thank everyone for their commitment, work and talent.” Dominique Baudoux, added: “It quickly became clear to me that Ardian was the right partner to support the Group, because, more than any other potential partner, their approach is in line with the core values which have guided us since the creation of the company.”

Sergio Calandri, CEO of Inula, said: “We have achieved strong growth over the past years, establishing our brands as leaders across Europe and overseas, as well as successfully integrating selected acquisitions. The key points that differentiate our approach (the quality of our products, our scientific approach, our focus on client training and the control of all the stages of the manufacturing process) will remain the key pillars of our future development. Ardian is the ideal partner to accompany Inula on this next development phase, thanks notably to its strong experience in the healthcare sector and its international network.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$72bn 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 530 employees working from fourteen 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). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT INULA

The Inula Group was born from the union of Pranarôm and HerbalGem, two pioneering laboratories in the field of natural therapies founded in 1985 and 1986 respectively. Inula is active in the development, production and distribution of phytotherapeutic remedies. Its three brands are leaders in their respective segments: Pranarôm in scientific aromatherapy (essential oils), HerbalGem in concentrated gemmotherapy (bud extracts) and Biofloral in Bach flowers (floral extracts). With consolidated sales of €85 million in 2017, Inula distributes its products through 6 sales subsidiaries (in Belgium, France, Spain, Italy, Portugal and the USA) as well as through distribution partners in more than 20 countries in Europe, Asia and North America. The products are commercialised by more than 12,000 customers, including pharmacies, natural stores and health professionals. The group has its own organic plant cultures, as well as 4 production laboratories in Belgium (Pranarôm site in Ghislenghien and HerbalGem site in Vielsalm), France (Biofloral site in Auvergne) and the USA (Inula site in Minneapolis).
www.pranarom.com – www.herbalgem.com – www.biofloral.fr

ABOUT VENDIS CAPITAL

Founded in 2009, Vendis Capital Management is an independent private equity firm dedicated to the European consumer space. In partnership with experienced entrepreneurs and managers, Vendis is focused on investing in and building small to medium-sized companies that are well positioned for growth or transformation (“building brands together”). Vendis invests in France, Belgium, Germany, the Netherlands and the Nordics.
www.vendiscapital.com

LIST OF PARTICIPANTS

Seller: Vendis Capital (Cedric Olbrechts, Mathieu de Medeiros), Dominique Baudoux (Founder & Chairman), Sergio Calandri (CEO)
Buyer: Ardian (Bruno Ladrière, Daniel Setton, Alexis Manet, Rafik Alili, Edmond Delamalle)

Seller Advisors:
M&A Advisors : JP Morgan (Edouard Debost, Peter Hujoel, Sebastien Guiol)
M&A Lawyer: Freshfields (Vincent Macq, Frederic Elens, Elliott Fosseprez)
Management Lawyer: Laurius (David Ryckaert)
Finance VDD: PwC (Philippe Estas, Geoffroy Jonckheere, Arnaud Chantraine, Olivier Van Crombrugge)
Fiscal VDD: PwC (Hugues Lamon, Koen Walbers)
Strategic VDD: Roland Berger (Grégoire Tondreau, Patrick Biecheler, Pierre-Antoine Bodin, Jean Muraire, Yaroslav Stetsenko)
Regulatory VDD: Covington (Bart Van Vooren)

Ardian Advisors:
M&A Advisors: BNP Paribas Fortis (Gabriel Englebert, Pieter-Jan Van de Walle, Wide Hellemans, Elena Coluccelli-Guérin, Muriel Petit)
Lawyer: Latham (Olivier du Mottay, Bénédicte Bremond, Lionel Dechmann)
Financing Advisors: EY (Yannick Lostie de Kerhor, Stéphane Seguin, Mathieu Creuzet, Nicolas Morel)
Legal, fiscal, social and CSR Advisors: EY (Jean-Christophe Sabourin, Patrice Mottier, Tom Swinnen, Lionel Benant, Anne Dupupet, Anne-Elisabeth Combes, Maelle Duquoc)
Insurance Advisors: Siaci St Honoré (Pierre de Rochebouet, Julie Marmara, Brigitte Lalo)
Strategic Advisors: EY-Parthenon (Henri-Pierre Vacher, Vincent Czeszynski, Louis Ravier, Benjamin Ferrand, Fabien Bouskila)
Regulatory Advisors: InnoveoCare (Géraldine Veuillet, Elodie Demars)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
Tel: +44 203 435 7469
vtsvetanov@headlandconsultancy.co.uk

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Terminal One Welcomes Port Authority Decision to Redevelop JFK Terminal One as Part of Advancing Airport’s Ambitious Vision Plan

Carlyle

  • Strong commitment to inclusion and labor participation with unprecedented focus on diversity and MWBE opportunities throughout the project targeting a 30% goal
  • Featuring world-class architecture, security, shopping and convenience
  • Establishing an Airport Academy to train local workers in airport operations and management
  • New terminal will be fueled by a target of 100% renewable energy

New York, NY – The Terminal One Team, comprising Terminal One Group Association (TOGA) and its world-class team of operating and financial partners, today welcomed the Port Authority of New York and New Jersey’s decision to move forward with the redevelopment and expansion of John F. Kennedy (JFK) Airport’s Terminal One in accordance with Governor Cuomo’s Vision Plan for JFK. Terminal One Group Association comprises Air France, Lufthansa, Korean Air and Japan Airlines – all of which partnered in 1994 for the original development of Terminal One at JFK. TOGA is joined by a world-class team of operating and financial partners to help deliver one of the largest public-private partnership projects in America. The TOGA team is an innovative coalition of airlines, labor, minority- and women-owned businesses and strong financial partners that includes: The Carlyle Group, together with its dedicated airport platform, CAG Holdings, JLC Infrastructure, Ullico and Munich Airport International.

“The TOGA airlines are committed to providing world-class levels of service to the people of New York State and New York City. The TOGA partner airlines have been serving JFK for more than 60 years,” said Arthur Molins, Managing Director for TOGA. “We have demonstrated our commitment to the New York market for decades, are confident in its growth potential and look forward to our sustained presence here well into the future.”

“Governor Cuomo has thrashed all the myths about minority participation in major infrastructure projects by insisting on a 30 percent standard throughout the project,” said Earvin “Magic” Johnson, co-founder of JLC Infrastructure. “The old excuses – there are not enough minority contractors, not enough minority financing, not enough minority entrepreneurs – have all been tossed out the window with this project.” JLC Infrastructure is a Port Authority-certified minority owned business and will provide financing for the project.

The new Terminal One will encompass 3 million square feet of terminal space on what is now Terminal One, Terminal 2 and the site of the former Terminal 3 – with 23 new gates (potentially increasing to 27) and additional aircraft parking positions, providing significant additional capacity for millions of passengers.

The Terminal’s architecture will be a unique and iconic gateway, inspired by New York City and all it offers; one such upgrade will be the arrivals corridor, which draws from New York City’s High Line, and will make a grand first impression with clear views of the city’s iconic skyline. The new terminal will bring the current AirTrain inside the facility, improving access and convenience, while offering family-friendly play areas, indoor parks and best-in-class concessions with a strong local Queens flavor.

The facility will offer a seamless, state-of-the-art security experience, cutting down on wait times and providing a more advanced screening process, along with a top-of-the-line baggage claim process to allow passengers to move quickly through the terminal. The new, cutting-edge screening technology will be highly adaptable to combat the ever-evolving threats faced by airports.

The Terminal One Team has also committed to environmental sustainability for its redevelopment of JFK. The redevelopment will reduce energy use in the terminal by 30 percent and switch to 50 percent renewable energy with a target of up to 100 percent renewable energy by 2025. The new terminal will also implement 100 percent composting of organic waste and recycling of inorganic waste.

Construction is expected to begin in early 2020 and finish during the second half of 2025, with the new terminal opening in phases to ensure uninterrupted gate capacity and a seamless transition.

“This project will put thousands of union members to work for a long period of time. With union investment in this deal, this is a partnership model that works for workers, management and investors. The Terminal One Team, in line with the objectives outlined by Governor Cuomo and the Port Authority, went the extra mile to make sure this project is a winner for all parties,” said Edward Smith, President and CEO for Ullico Inc.

The Terminal One Team has also made the JFK community an important element of its plan, including a preference for local businesses, jobs for local residents and quarterly job fairs for New Yorkers, paving paths to permanent employment and community development. In addition, the team is establishing an Airport Academy at JFK to help Queens and regional residents learn the skills needed to work in airport operations, whether at JFK, LaGuardia or anywhere in the world.

“We’re supporting TOGA to deliver a world-class travel experience,” said Peter Taylor, Co-Head of Carlyle’s global infrastructure fund. “TOGA has partnered with Labor and Minority- and Women-Owned Business Enterprises (MWBE), including capacity building and training. TOGA’s MWBE goal is throughout the project, from engineering and architecture, to financial and legal as well as construction.”

“JFK is the world’s gateway to New York and the United States’” added Amit Rikhy, CEO of CAG Holdings. “Working with TOGA, our collaborative, local and world-class team and plan will deliver a redeveloped Terminal One that is part of the unified, interconnected and premier airport New Yorkers deserve.”

See our video here: https://www.carlyle.com/media-room/corporate-videos/ready-fly-%E2%80%93-one-jfk

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About TOGA

TOGA is a New York-based limited partnership of four international airlines: Air France, Japan Airlines, Korean Air and Lufthansa. TOGA was originally formed in 1994 and entered into a long-term Site Lease with the Port Authority of New York & New Jersey to finance, construct, maintain and operate a new passenger terminal facility at JFK, now known as Terminal One. The Terminal is home to the four TOGA Airlines plus 19 other international airlines and is on pace to process approximately 7.7 million passengers to over 38 nonstop international destinations in 2018.  With 10 international gates, Terminal One has been operated by TOGA since May 1998 and is one of only two terminals at JFK that can serve the Airbus 380 superjumbo aircraft.

For media inquiries, contact Arthur Molins at arthur.molins@dlh.de or at +1 516 296 9234.

About The Carlyle Group and CAG Holdings

The Carlyle Group (NASDAQ:CG) is a global alternative asset manager with approximately $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

CAG Holdings is The Carlyle Group’s dedicated US-based investment platform for airport infrastructure investment opportunities globally. CAG Holdings is led by an experienced management team with a track record of over 70+ airport projects globally combined with a deep, localized understanding of the US airport market.

For media inquiries, contact Chris Ullman at chris.ullman@carlyle.com or at +1-202-729-5450.

About JLC Infrastructure

JLC Infrastructure is an investor and asset management firm focused on the transportation, communications, energy, utilities and social infrastructure sectors in the United States. The firm was formed in 2015 by Loop Capital and Magic Johnson Enterprises and currently manages investments in the redevelopments of Terminal B at LaGuardia Airport and Jeppesen Terminal at Denver International Airport (the Great Hall Project).

For media inquiries, contact info@jlcinfra.com.

About Ullico 
For more than 90 years, Ullico, the only labor-owned insurance and investment company, has been a proud partner of the labor movement, keeping union families safe and secure. From insurance products that protect union members, leaders and employers, to investments in building projects that have created thousands of union jobs, our customers continue to trust us with protecting their families, employees and investments. The Ullico Inc. Family of Companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC (Member FINRA/SIPC).; and Ullico Investment Advisors, Inc.

For media inquiries, contact Cori Houlihan at choulihan@ullico.com or at +1 202 354 8044.

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