Category Archives: News

Cinven to acquire Säkra

Cinven

International private equity firm, Cinven, announces that it has reached an agreement to acquire Säkra, a leading insurance broker headquartered in Stockholm, Sweden. Financial details of the transaction are not disclosed. The acquisition of Säkra marks the fourth investment from Cinven’s inaugural Strategic Financials Fund (‘SFF’), which held its final closing in July 2022 with total capital committed of €1.5 billion.

Founded in 1990, Säkra is one of Sweden’s largest insurance intermediaries, providing life and non-life insurance products, as well as pension and wealth management services, to more than 35,000 SME clients and more than 115,000 individual customers. Säkra has more than 60 offices across Sweden and employs approximately 350 people.

Cinven believes Säkra is an attractive investment opportunity for the SFF based on:

  • The company’s high-quality, cash generative business model and attractive, recurring revenue base;
  • Säkra’s strong position in the insurance markets it serves, with strong brand equity and a long-standing client base;
  • Its proven track record of steady and consistent growth, delivering robust performance through the COVID-19 pandemic and prior economic downturns;
  • The opportunity to accelerate the company’s long-term growth profile through a combination of organic growth and incremental bolt-on M&A;
  • The resilient growth prospects of the underlying insurance market through economic cycles; and
  • Säkra’s strong management team, led by CEO, Eva Pantzar Waage, and deep bench of talent, with significant expertise across its specialist areas.

Luigi Sbrozzi, Partner and co-head of the SFF, said:

“Cinven is very pleased to be making this investment in Säkra. It is a highly attractive, resilient specialist insurance intermediary business with strong long-term growth opportunities across all of its segments and a history of consistent growth through various economic cycles. The investment is supported by a resilient underlying market in Sweden and is well-positioned to grow organically, with further upside through its demonstrated M&A trajectory. Säkra offers a high-quality scalable platform, with associated benefits for clients as the business develops and expands over the long-term. We look forward to working with Säkra’s CEO and her colleagues in further developing and growing the business.”

Eva Pantzar Waage, President and CEO at Säkra, added:

“We are delighted to be partnering with Cinven to deliver the next phase of Säkra’s growth. Säkra is a firm with a strong reputation, skilled employees and significant future growth opportunities, with scope to build on the company’s existing strengths through incremental, targeted strategic investments. Cinven’s skills and expertise, including its knowledge of the sector and proven track record of investing in established European financial services businesses, will help accelerate Säkra’s growth going forward.”

The transaction is subject to customary regulatory and antitrust approvals.

The SFF builds on Cinven’s leading financial services investment platform in Europe with an investment strategy focused on areas where Cinven has developed significant investment expertise, such as life and non-life insurance and reinsurance, asset-backed speciality finance, wealth management, insurance distributors and other ‘capital light’ tech-enabled financial service providers.

To date, the SFF has invested in Miller (investment completed in March 2021), a leading specialist insurance and (re)insurance broker, acquired in partnership with GIC; Compre (April 2021), a specialist global consolidator of closed books of non-life insurance policies, acquired in partnership with British Columbia Investment Management Corporation; and International Financial Group Limited (investment agreed in 2022, with completion pending customary regulatory and antitrust approvals), a leading life insurance provider of cross-border, long-term savings products for internationally mobile clients.

Cinven Funds’ previous investments in the European insurance sector include Guardian Financial Services in the UK and Viridium in Germany. Other UK-headquartered financial services investments by the Cinven Funds include Partnership Assurance, NewDay and Premium Credit.

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Ardian takes a majority stake in the Pointe Amont de l’Île Seguin project alongside Emerige and AOG

Ardian

This exceptionally designed mixed-use development will house an arts and culture center, hotel, cinema shopping and office space.

Ardian, one of the world’s leading private equity houses, acquired a 70% stake in the 53,000sqm Pointe Amont de l’Île Seguin project, located on the Seine in Boulogne-Billancourt, in close vicinity to Paris. This is one of Ardian’s largest property investments to date.
The project will be co-developed with Emerige, a developer committed to urban transformation, and AOG, a private investment company. The large-scale development will create a fully integrated, mixed-use environment in the heart of the Vallée de la Culture and the ZAC Ile Seguin Rives de Seine developed by SPI Val de Seine Aménagement – a tertiary, leisure, tourist and cultural zone, located close to the headquarters of major companies as well as to several public transports.
Work began in August 2022 and is expected to be completed by late 2025.

A mixed project designed as an ecosystem generating synergies with its environment
The project consists of 3 buildings:

  • A 22,000sqm mixed-use building with a cultural focus designed by Catalan firm RCR Arquitectes (Pritzker Prize 2017) and French agency CALQ Architecture. The building will house shops, a Pathé Cinéma Multiplex with innovative and state-of-the-art auditoriums, and a cultural center as well as offices, steps away from the Seine Musicale and the Albert Kahn Museum.
  • A 4-star hotel designed by the Austrian agency Baumschlager Eberle Architekten. The hotel will target 220 rooms, offering an exceptional setting for business guests and tourists. The space will include bars and restaurants with terraces, a business center, a swimming pool overlooking the Seine and balconies offering direct views over Paris and the Seine.
  • An office building also designed by RCR and CALQ offering 16,000sqm of prime office space. These different but connected and complementary buildings will offer a unique experience for businesses, residents and tourists.

A project fully integrated into its environment
This project was designed to fit seamlessly into Île Seguin’s growing redevelopment and on the Seine’s banks.
These new buildings were designed to complete the island’s cultural scene, such as La Seine Musicale, completed in 2017 and designed by Japanese architect Shigeru Ban (Pritzker Prize 2014) in collaboration with French architect Jean de Gastines.
The quality and service of the buildings will be market-leading with the highest sustainability standards, (HQE sustainable building V3 and BREEAM International New Construction V6).
This urban transformation project is perfectly aligned with Ardian’s strategy of providing sustainable finance to real estate. This is Ardian’s seventh real estate transaction in France since the launch of its first Real Estate fund in 2016.
Since 2010, Emerige and AOG have successfully developed several multi-use urban transformation projects. This includes “Beaupassage” in Paris’ 7th arrondissement, a new district and residential area dedicated to providing a quality lifestyle and good standards of wellbeing.

“With this project, we are signing what will be one of our finest achievements at Ardian Real Estate and one of our largest investments to date. Île Seguin is an exceptional site which is ripe for further redevelopment to the highest standards. This project will bring a new lease of life to the area while respecting its heritage and history. With our expert partners Emerige and AOG, we will make the Pointe Amont de l’Île an attractive mixed-use area that is respectful of the surrounding environment and provide a perfect setting for people who want to live, work and relax.”
● STÉPHANIE BENSIMON ● HEAD OF ARDIAN’S REAL ESTATE ACTIVITY

“We are delighted that Ardian Real Estate is joining Emerige and our historical partner AOG in this exceptional project. For Emerige, this serves as proof of our ability to carry out complex, large-scale real estate operations. The project on the upstream end of the Ile Seguin is emblematic, whether for its remarkable architectural signature with the architects RCR and Baumschlager Eberle or for its ambitious and innovative mixed-use program with a contemporary art center, a Pathé multiplex, a lifestyle hotel, offices and shops. All of this in a green environment that will harmoniously fit in with the Île Seguin conversion project and its 1.5 hectare park.”
● LAURENT DUMAS ● CHAIRMAN OF EMERIGE SUPERVISORY BOARD

“We are delighted to have joined forces with Ardian Real Estate to develop the Pointe Amont de l’Île Seguin project alongside Emerige. This emblematic project, with a strong cultural orientation, which is designed in compliance with the highest environmental certification standards, is completely in line with our vision of sustainable real estate that echoes our own values as a long-term investor. The privileged partnership that has historically linked us to Emerige and that will link us to Ardian for this project, constitutes a high value-added collaboration.”
● ARNAUD TALABARDON ● VICE-PRÉSIDENT OF AOG AND HEAD OF THE REAL ESTATE ACTIVITY

LIST OF PARTICIPANTS

  • In this transaction,

    • Emerige was accompanied by the notary Victoires and law firms De Pardieu Brocas Maffei and Boivin.
    • AOG was advised by the notary Victoires and law firm Gide.
    • Ardian was advised by SCP Attal, Linklaters, Lacourte Raquin Tatar, Arsène Taxand, Theop, HPM, Green Affair, In Extenso and PriceWaterhouseCoopers.

  • BANQUES & ASSUREURS

    • Archers ; Caisse d’Epargne des Hauts de France ; L’étude Wargny-Katz ; La Banque Postale ; Marsh ; RyanSG ; Godet Gaillard Solle Maraux et Associés.

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

ABOUT EMERIGE

Building a better city is Emerige’s ambition. This guiding principle has been carried with rigor and responsibility for more than 30 years and guides our activity on a daily basis. As the leading developer in Paris and the fifth largest in the Greater Paris region, we build each of our residential and commercial real estate programs on the basis of a requirement shared with our stakeholders, architects, craftsmen, investors, users, elected officials, partners and artists, with whom we cultivate a relationship of trust and respect for the word given.
Since 2016, we have been committed to a voluntary and unique CSR approach that places art at the heart of our first social commitments by promoting access to culture for all, through our sponsorship policy, the dissemination of art in the city and our cultural programs dedicated to young people. Convinced of the urgency of engaging in the ecological transition in the heart of cities, Emerige is also investing in the sustainable city through 3 concrete, measurable and enforceable actions: the development of a carbon trajectory, the adhesion to the reuse booster and the adoption of 15 actions in favor of urban biodiversity on all our residential and tertiary programs.

www.groupe-emerige.com

ABOUT AOG

Founded in 1987 and chaired by Swiss entrepreneur Jean Claude Gandur, AOG is a private investment group based in Malta. A pioneer in the energy sector in Africa and the Middle East, the group has diversified into real estate over the past ten years.
AOG Real Estate, its real estate division, develops a global portfolio of investments in private equity funds in real estate as well as in commercial properties in prime European locations.
AOG enjoys a solid reputation as a responsive and reliable partner, combining the flexibility and speed of execution of a private investor with the professional expertise and governance standards of an institutional investor. For over 30 years, AOG has distinguished itself by its entrepreneurial spirit and its intuitive ability to identify new opportunities.

www.aoginvest.com

PRESS CONTACTS

ARDIAN

IMAGE 7

ardian@image7.fr

GROUPE EMERIGE

Clarisse Guyonnet

cguyonnet@emerige.com 07 85 28 62 85

AOG

Christine de Loriol

Pressenquiries@aoginvest.com

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ONCAP Partners with Ideal Dental

TORONTO, SACRAMENTO, July 5, 2022 – ONCAP today announced it has made a significant investment in Ideal Dental Management Partners (“Ideal Dental” or the “Company”), in partnership with its affiliated doctors.
Ideal Dental is a specialty dental service organization focused on providing business and administrative services to specialty dental service providers. The Company partners with doctors who independently diagnose and treat their patients, providing orthodontic, pedodontics, oral surgery and other therapeutic services. Together, they deliver exceptional care through the latest innovation and technology and the best patient experience possible – treating every patient and their family members with empathy and respect.

“Ideal Dental is devoted to clinical and operational excellence and we’re thrilled to partner with such an exceptional operating team and group of distinguished doctors,” said Aly Hadibhai, a Managing Director with ONCAP. “We see an opportunity to accelerate the Company’s growth plan through organic and inorganic initiatives and look forward to working together in this next phase of its evolution.”

“ONCAP has an impressive track record working with multi-site consumer-facing businesses operating in fragmented industries, making it the right partner for us,” Alejandra Salonga, Vice President of Operations with Ideal Dental. “I am confident they will help fulfill Ideal Dental’s vision of becoming the premier specialty dental services organization in the Western U.S.”

The investment was made by ONCAP IV, Onex Corporation’s (TSX:ONEX) $1.1 billion private equity fund. The terms of the transaction are not being disclosed at this time.

About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In addition, through our private wealth platform, we service high net worth clients in Canada. In total, as of March 31, 2022 Onex has $49.2 billion in assets under management, of which $8.2 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at
www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About Ideal Dental Management Partners
Ideal Dental Management Partners was built on the shared passion and mission to provide exceptional dental care through the latest innovation and technology, and the belief that everyone deserves to have the confidence and positivity that comes from a healthy, beautiful smile. Ideal Dental Management Partners and the independent specialty dental care practices it supports operate 28 locations on the West Coast through its dental specialty brands. Combined, the brands have provided high-quality dental specialty care to more than 200,000 patients. Ideal Dental Management Partners is headquartered at 3075 Beacon Blvd., West Sacramento, CA 95691.

For Further Information:
Onex
Jill Homenuk
Managing Director – Shareholder
Relations and Communications
Tel: +1 416.362.7711
Ideal Dental
Alejandra Salonga
Vice President of Operations
info@idealdentalmp.com

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ECOMMERCE ONE acquires cloud shop solution provider Gambio

Oakley

Oakley Capital (‘Oakley’), the pan-European private equity investor, is pleased to announce that portfolio company ECOMMERCE ONE has acquired Gambio, one of the leading providers of shop system software solutions for online retailers in the DACH region.

Ecommerce One news image

Founded in 2004 by Daniel Schnadt and Nonito Capuno, Bremen-based Gambio provides more than 25,000 retailers with a modern shop system software that offers a wide range of functions and is connected to all major marketplaces, payment systems, merchandise management and ERP systems and shipping service providers.

Icons8 Click & Collect

Provides more than 25,000 retailers with a modern shop system software

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Connected to all major marketplaces, payment systems, merchandise management and ERP systems and shipping service providers

Icons8 Improvement

Solutions optimised for the best search engine rankings and are suitable for both professionals and e-commerce beginners

Gambio’s solutions are optimised for the best search engine rankings and are suitable for both professionals and e-commerce beginners, who can create and customise a legally compliant online shop without programming knowledge.

Quote Daliah Salzmann

Today’s online retailers require more speed and flexibility than ever. We offer them easy access to holistic solutions. Gambio fits perfectly into our portfolio as a cloud-based shop solution with a strong track record and valuable expertise that will benefit the other companies in our Group.

Daliah Salzmann

Managing Director — ECOMMERCE ONE

Market-leading SaaS solutions for online merchants in the DACH region

Backed by Oakley, ECOMMERCE ONE comprises companies that provide market-leading SaaS solutions for online merchants in the DACH region, helping clients manage and automate difficult, manual and time-critical processes that underpin successful ecommerce operations.

ECOMMERCE ONE was formed in June 2021 in order to establish an ecosystem that harnesses synergies between its constituent companies and accelerates joint growth, while also creating added-value and an all-round solution for online merchants.

With the acquisition of Gambio, ECOMMERCE ONE is continuing its growth strategy. The business complements ECOMMERCE ONE’s existing software solutions, most notably multichannel providers Afterbuy and DreamRobot, and allows the group to offer more services to its customers.

Gambio will operate under the ECOMMERCE ONE umbrella but will remain independent, with Dr. Felix Hötzinger remaining as Managing Director.

For our merchants, joining ECOMMERCE ONE gives them the advantage of receiving even more services and benefiting from the holistic value chain solution that the ecosystem offers for online commerce. We also want to be able to offer our solution to even more clients and joining forces with ECOMMERCE ONE enables us to do so.

Dr. Felix Hötzinger

Managing Director — Gambio

Quote Peter Dubens

We’re pleased to see ECOMMERCE ONE deliver on its buy-and-build strategy as we complement the software solution portfolio and grow the group to become the leading eCommerce software provider for online merchants in the DACH region. A high-performing shop system is a key component of successful eCommerce strategy, so adding Gambio is a logical and exciting extension to ECOMMERCE ONE’s existing offering.

Peter Dubens

Managing Partner & Co-Founder — Oakley Capital

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DIF Capital Partners to acquire Rail First, Australia’s leading rail freight leasing company

DIF Capital Partners (“DIF”), through its DIF Core-plus Infrastructure Fund III (“CIF III”), and Amber Infrastructure Group are pleased to announce they have signed an agreement to jointly acquire Rail First (the “Company”), the leading Australian rail freight leasing company, on a 50-50 basis, from Anchorage Capital Partners.

Rail First offers leasing solutions for rolling stock such as locomotives, as well as intermodal and hopper wagons. The Company’s leasing offering is supported by a growing locomotive and wagon maintenance operation. Rail First has a blue-chip customer base, reflecting a meaningful proportion of Australia’s haulage task, with a well-diversified underling product mix. Typical leases are for 3-5 years, aligning with the underlying haulage contracts. The strength of the Company’s resilient business model was demonstrated during COVID-19, when major intermodal volumes remained steady. Rail First has strong barriers to entry and is expected to benefit from several long-term tailwinds, including the Inland Rail project between Melbourne and Brisbane once operational. Rail First will drive the transition towards lower emission intensity transport offerings, with a proven ESG track record and several long-term initiatives in place.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, said “DIF is delighted to invest in Rail First, as it provides unique access to Australia’s attractive rail leasing market. The Company is well positioned to partner and grow with its customers. We look forward working together with the Company’s experienced management team to offer more environmentally friendly leasing solutions to the Australian rail market.”

Mark Kirkpatrick, CEO of Rail First, added: “We are excited to partner with DIF, given their successful track record of rail and infrastructure investments, globally and in Australia. Their prior experience combined with significant capital commitment to fund our continued growth places Rail First in a strong position to grow alongside our customers.”

The transaction is subject to approval by Australia’s Foreign Investment Review Board. The transaction is expected to close by end-October 2022.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

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Intelerad announces significant investment from TA to accelerate growth

HG Capital

A joins Hg and ST6 in supporting Intelerad to advance clinical efficiency and patient care through innovative medical imaging technology.

RALEIGH, NC and MONTREAL, CANADA, July 14, 2022 – Intelerad, a leading global provider of enterprise medical imaging solutions, today announced that TA Associates (“TA”), a leading global growth private equity firm, has signed a definitive agreement to make a growth investment in the company. TA joins Intelerad’s majority investor, Hg, a leading software and services investor, and ST6, a highly experienced team of software operating executives and minority investor. The transaction is expected to close in the third quarter of 2022 pending customary regulatory approval.

“We’re excited to welcome TA as a partner on our continued journey to improve healthcare through innovative technology. With their deep industry knowledge and experience scaling healthcare technology companies, the addition of TA and continued support from Hg will help Intelerad to significantly advance our growth strategy and value to customers.”

Mike Lipps, CEO of Intelerad

Founded in 1999, Intelerad provides medical imaging software and enterprise workflow solutions to healthcare providers worldwide. Headquartered in Raleigh, NC and Montreal, Canada, the company serves nearly 2,000 customers around the world, including radiology groups, outpatient imaging centers, hospitals and healthcare systems, managing over 50 billion medical images and empowering more than 300,000 clinicians, who collectively read over 140 million exams on Intelerad’s platform each year.

“We have followed Intelerad for several years and continue to be impressed by its differentiated solutions, strong growth and leadership position.”

Mark Carter, a Managing Director at TA.

“Building on its momentum in the sector, we believe Intelerad is well positioned to further strengthen and expand its suite of solutions. We are supportive of Intelerad’s vision and excited to join the team as it enters the next phase of its growth journey,”

Ethan Liebermann, a Managing Director at TA

“Intelerad has built a platform that is making a difference in patient care by enabling significant efficiencies and speed-to-results for healthcare organizations. We’re proud to have supported the Intelerad team, who have achieved significant progress in such a short period, doubling the size of the business in two years.”

Hector Guinness and JB Brian, Partners at Hg

Globally, demand for scalable imaging and workflow solutions continues to increase as imaging sites consolidate and the volume of procedures grows, placing greater pressure on productivity. Intelerad’s growth strategy is to provide customers with one of the most scalable imaging platforms in the world, and as a result, Intelerad customers are already benefiting from an expanded suite of solutions, best-in-class flexibility, and increased support which will enable them to drive clinical efficiency and focus on providing enhanced patient care.

“The COVID-19 pandemic has intensified the challenges facing this industry and accelerated the demand to improve patient care. Intelerad has recognized this need and is actively working to make its customers more productive, more agile, and more responsive. We look forward to partnering with TA to promote organic development and pursue strategic growth opportunities. The new investment from TA will help Intelerad further deliver the critical value that our customers need right now.”

Mark Friedman, Intelerad Executive Chairman and Managing Director at ST6.

Kirkland & Ellis is providing legal counsel to TA. Skadden, Arps, Slate, Meagher & Flom LLP, DLA and McCarthy Tétrault LLP are providing legal counsel to Hg and Intelerad.

For further details:

Hg
Tom Eckersley
+44 (0)208 148 5401

Brunswick
Azadeh Varzi
+44 (0)207 404 5959
Hg@brunswickgroup.com

About Hg
Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $40 billion, with an investment team of over 160 professionals, including a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 45 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 65,000 employees globally, growing at over 20% per year

Visit www.hgcapital.com for more information and sign up for the Hg Newsletter to stay updated with Hg and portfolio news.

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Change of ownership for leading migration service provider: Serco Group Plc acquires ORS Group

Equistone

Funds advised by Equistone Partners Europe (“Equistone”) have sold their majority stake in ORS Group (“ORS”), a leading European provider of immigration services in the DACH region and Italy. The company has been acquired by Serco Group Plc (“Serco”), an international governmental service provider. Equistone acquired ORS in July 2013 and helped strengthen its international presence by entering the German and Italian markets.

ORS Group – short for Organisation for Refugee Services – was established in Zurich in 1992 and specialises in offering immigration services with a focus on public customers and governments in Switzerland, Germany, Austria and Italy. The internationally recognised group, which enjoys a leading position in Europe, ensures that refugees receive professional care from their arrival and housing, through the care they receive during their asylum proceedings, to the assistance given to them with their professional and social integration. ORS Group currently has over 2,000 employees.

Equistone secured a majority stake in ORS in July 2013 and has worked in close collaboration with the management team since then to help the company expand its international presence. For example, the company successfully entered the German and Italian markets in recent years. With its sale to Serco, ORS is joining an experienced international service firm that specialises in providing migration-related services for national governments, in addition to other services.

Jürg Rötheli, CEO of ORS, states: “Demand from governments for support services in the area of migration has risen consistently in recent years. Thanks to the new partnership with Serco our customers will benefit from an even stronger global network. At the same time, we will also guarantee the same level of service and professionalism that customers have come to expect. Our new partner’s support and expertise will help us to keep developing ORS, while maintaining our commitment to quality services and high standards of care.”

David Zahnd and Stefan Maser led the transaction on behalf of Equistone. Equistone was advised by KPMG (M&A) and Vischer (Legal & Tax).

PR Contacts

GERMANY / SWITZERLAND / NETHERLANDS

Munich, Zurich, Amsterdam

  • IWK Communication Partner
  • Ira Wülfing / Florian Bergmann
  • Tel: +49 (0)89 2000 30 30
  • E-Mail IWK

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KKR Expands Industrial Real Estate Portfolio in Phoenix With Acquisition of 101 at Van Buren

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired 101 at Van Buren, a newly constructed industrial park consisting of two Class A buildings located in Phoenix’s Southwest Valley industrial submarket, from a real estate fund advised by Crow Holdings Capital and Seefried Industrial Properties for a purchase price of approximately $90 million. The acquisition further grows KKR’s portfolio of high-quality industrial real estate across the Phoenix market to nearly three million square feet.

The property is strategically located in close proximity to major transportation nodes, including Interstate Highway 10 (I-10) and Arizona State Route 101 (Loop 101), and has over 600,000 square feet (“SF”) of space with state-of-the-art physical features designed for multi-tenant occupancy. The buildings were delivered in June 2022 and feature 135’+ truck courts and 36 foot clear heights.

“We are excited to add 101 at Van Buren to our portfolio,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We continue to invest in high-quality industrial real estate to meet the needs of modern supply chains and are encouraged by the continued momentum in the Phoenix market, including strong leasing velocity.”

The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7 billion of logistics assets in the industrial sector since 2018 and currently owns over 45 million SF of industrial real estate in major U.S. metropolitan areas.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media
For KKR
Miles Radcliffe-Trenner and Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

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Latour acquires MAXAGV

Latour logo
2022-09-01 15:00

Investment AB Latour has, through its wholly-owned subsidiary Latour Industries AB, acquired MAXAGV from the founders and management.

MAXAGV is a leading mobile robotics and software company providing automation technology for goods handling solutions with headquarter in Mölndal, Sweden, and 67 employees. Net sales amounts to approximately SEK 160 m, of which the vast majority is exported.

“We are pleased with the acquisition and convinced that MAXAGV is well positioned for continued global growth, driven by the strong growth in industry automatization. We are very happy to welcome MAXAGV to Latour”, says Björn Lenander, CEO of Latour Industries.

“I am delighted to see Latour Industries as our new owner. Latour is a long-term industrial owner that can support MAXAGV’s plan for continued international expansion”, says Erling Wessberg, CEO of MAXAGV.

As an effect of the acquisition the net debt of the Latour Group increases with about SEK 0.2 billion.

Göteborg, September 1, 2022

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Gustav Samuelsson, Investment Director Investment AB Latour, +46 735 52 55 59

Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 66 billion. The wholly-owned industrial operations has an annual turnover of SEK 20 billion.

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Launch of Capricorn Industrial Biotech Fund by DSM, InnovationQuarter and Capricorn Partners

A new venture fund building a sustainable society through early-stage investments in the Industrial Biotech industry

Today, Capricorn Partners announces the establishment of Capricorn Industrial Biotech Fund, a new fund as part of its Cleantech portfolio of funds. The Capricorn Industrial Biotech Fund invests in early-stage ventures that are using biotechnology solutions to meet the growing demand for products made in a sustainable way.

Industrial Biotechnology is a key technology for the transformation of society towards Net Zero Carbon and Circularity. This industry will accelerate rapidly in the next decades, driven by recent advancements in bio-engineering, Artificial Intelligence, process technology, and a growing regulatory push for low carbon industry. Industrial Biotechnology will provide sustainable alternatives for food & feed ingredients, chemicals and intermediates, advanced materials and energy.

Industrial Biotechnology is in a technology lifecycle phase that is favorable for early-stage venture investing. Many promising technologies are being developed at universities and technology institutes, with a particularly strong presence in the Benelux and other countries in North-West Europe. Capricorn Industrial Biotech Fund invests in early-stage ventures in this industry, and assists them with their growth.

Rob van der Meij, Partner at Capricorn Partners:

Capricorn Industrial Biotech Fund is an excellent addition to our portfolio of Cleantech funds. It targets an industry where we expect strong growth, and where ventures can create significant value. Capricorn Industrial Biotech Fund complements our other funds such as the Capricorn Sustainable Chemistry Fund which invests in later stage sustainable technologies.

Capricorn Industrial Biotech Fund is an initiative of DSM (AMS: DSM), InnovationQuarter (the regional development agency of the greater Rotterdam-The Hague area in The Netherlands) and Capricorn Partners. The founding partners aim to establish a fund that will further strengthen the ecosystem around the Biotech Campus Delft and connect it to other centres of excellence in Belgium, France, Germany, Denmark and the United Kingdom.

Pieter Wolters, Managing Director DSM Venturing:

The new fund is a perfect vehicle to further boost the unique knowledge ecosystem on and near the Biotech Campus Delft where solutions to tackle the most pressing challenges in for example the way we produce and consume food are being developed. DSM is happy to be a co-founding investor in the Capricorn Industrial Biotech Fund, and we will continue to actively support and foster the scaling up of brilliant biotech inventions, companies and ventures that will sustainably transform health, nutrition and bioscience.

Liduina Hammer, Head of Investments at InnovationQuarter, stresses the importance of creating a sustainable production industry for the future economy of South Holland:

We support the transition from fossil to green factories in Zuid-Holland. Initiatives like PlanetB.io at the Biotech Campus in Delft support innovative companies to scale their biotech solutions and realise their impact for society. Through this fund we put extra effort in the most urgent climate and energy transition.

Capricorn Industrial Biotech Fund is launched following a first close, and will start sourcing deals as of now. Interested investors are invited to join for a final close at a maximum of €25 million.

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