IMV Technologies Group acquires Medivet Scandinavian AB

Montagu

Medivet are a leading provider of Veterinary DR X-Ray systems and other veterinary imaging modalities, based in Angelholm, Sweden with a reach throughout Scandinavia. Under the leadership of Torbjörn Hallenheim the business has developed into one of Scandinavia’s leading providers of veterinary imaging solutions.

Torbjörn comments that “we are totally thrilled to be joining the IMV Technologies group to provide us with the resources and market knowledge that will help us take our business to the next level, IMV Technologies provides us with a natural partnership in this exciting and growing market.”

IMV Technologies provides us with a natural partnership in this exciting and growing market.

Torbjörn Hallenheim, Owner & CEO, Medivet Scandinavian AB

Alain de Lambilly; CEO of IMV Technologies, adds that “Medivet is a fabulous business, and we are delighted to welcome Torbjörn and his team to IMV Technologies. We have been very impressed by the dedication shown to outstanding customer service by the Medivet team in providing the very best products and services to their clients across Scandinavia. At IMV one of our core values is Excellence and we see an amazing commitment at Medivet to ensuring their clients have the tools and knowledge to provide the best possible animal care. Medivet will join our growing and successful Companion Animal Imaging business, bringing additional experience and products – in particular their MERS Equine X-Ray technologies to our comprehensive product offering.”

Medivet is a fabulous business, and we are delighted to welcome Torbjörn and his team to IMV Technologies.

Alain de Lambilly, CEO, IMV Technologies Group

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Ardian Clean Energy Evergreen Fund (ACEEF) is investing in French renewable energy producer UNITe

Ardian

UNITe is a multi-technology renewable power specialist with more than 1.5 GW of projects under development
• This investment will support a new chapter of growth for UNITe and reinforce Ardian’s commitment to sustainable energy further strengthening its global renewables platform

Ardian, a world-leading private investment house, today becomes the largest shareholder in UNITe, an independent power producer and developer, through its Clean Energy Evergreen Fund (ACEEF). This strategic investment further enhances Ardian’s renewable energy portfolio by expanding its assets in hydropower, photovoltaics, and wind power. Omnes, Bpifrance (Fonds Impact Environment team) which invested in 2018, and Société Générale Capital Partenaires, which invested in 2010, agreed to sell their stake in UNITe to Ardian after successfully completing the objective they set themselves, in which UNITe has consolidated its position as an independent power producer and developer.

The UNITe – Hydrowatt Group is recognised as the leading independent player in small hydro in France, with 36 powerplants, and one of the most promising photovoltaic developers. Last year, UNITe was ranked third nationally for tenders issued by the Commission de Regulation de l’Energie.

Since 2019, UNITe has decided to significantly grow its photovoltaic development, with projects in France totalling 1.5 GWp in capacity over the coming years. Over 2023, UNITe has completed a first stage of 11 projects (140 MWp) scheduled to be operational by 2025. Ardian’s long-term support, UNITe will pursue its renewable energy strategy, participate in the expansion of these energies and embark on its next stage of development. Through ACEEF, its evergreen fund, Ardian will continue to support UNITe’s growth by helping to finance its current and future projects.

For almost 40 years, the UNITe Group has been reconciling the need for energy with respect for the environment. Today, UNITe is one of the leading independent producers of low-carbon, local, sustainable and competitive electricity in France.

Through its subsidiary GREEN-ACCESS, the group is also a leader in the valorization of green energy., notably through the sale of Guarantees of Origin and start the negotiation of contracts for the direct supply of renewable electricity to industrial consumers.

Ardian will also provide UNITe with its OPTA digital renewable energy asset management tool. OPTA is Ardian’s in-house data analytics tool designed to optimize the management of renewable energy portfolios and monitor market risk for renewable assets worldwide. Ardian now tracks more than 2.5 GW of renewable assets through OPTA.

“Through ACEEF, Ardian’s mission is to offer investors the opportunity to grow their exposure to renewables and the energy transition, and to support the development of this important sector. UNITe is an exciting addition to Ardian’s portfolio. We are excited to partner with this historically family-run business and support the impressive management team in their ambitious growth plan.” Benjamin Kennedy, Managing Director Renewables Infrastructure, Ardian

“Through this investment, UNITe will benefit from Ardian’s support as a long-term financial partner, well-adapted for supporting the group’s strong growth strategy. I am proud to be moving forward with UNITe’s formidable team, while preserving our convictions and our unique state of mind..” Alexandre Albanel, President, UNITe

Ardian is a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds, the team manages a renewable energy portfolio of more than 8GW of heat and renewable energy capacity in Europe and the Americas, and over $28bn assets under management across the globe. ACEEF will continue to focus on core renewable assets including solar, wind, and hydro, as well as emerging technologies across biogas, biomass, energy storage, and energy efficiency.

Recent investments made through the fund include the acquisitions of a Peru-based hydropower company, the diversified renewable energy platform ICQ Holding, and multiple wind parks in Finland, where fund also invested in the development and construction of Finnish Battery Energy Storage System (BESS) projects.

The deal is subject to the usual regulatory approvals.

LIST OF PARTICIPANTS

  • ARDIAN

    • M&A: ASTRIS FINANCE
    • LEGAL: GIDE LOYRETTE NOUEL
    • TECHNICAL AND ESG: EVEROZE
    • MARKET ADVISOR: AFRY
    • TAX AND FINANCE: KPMG
    • INSURANCE AND W&I: MARSH
  • UNITE

    • M&A : BNP PARIBAS
    • LEGAL (M&A) : LINKLATERS, LPP
    • TECHNICAL AND ESG: NATURAL POWER, ARTELIA
    • LEGAL, TAX AND FINANCE DD: LPA, DELOITTE, DELOITTE SOCIÉTÉ D’AVOCATS
    • INSURANCE AND W&I: MARSH, LPA
  • SELLERS’ CONSORTIUM: OMNES CAPITAL, BPIFRANCE ET SOCIÉTÉ GÉNÉRALE CAPITAL PARTENAIRES

    • M&A: BNP PARIBAS
    • LEGAL: CLIFFORD CHANCE
    • TECHNICAL AND ESG: NATURAL POWER, ARTELIA
    • TAX AND FINANCE: DELOITTE, DELOITTE SOCIÉTÉ D’AVOCATS

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 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. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East 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.

ABOUT UNITE

For almost 40 years, the UNITe group has been working to combine the need for energy with respect for the environment. Today, UNITe is one of the leading independent producers of low-carbon, local, sustainable and competitive electricity in France, with more than 60 production sites. Through its subsidiary GREEN-ACCESS, the group is also a leader in energy recovery, notably through the sale of Guarantees of Origin and start the negotiation of contracts for the direct supply of renewable electricity to industrial consumers.
UNITe is an independent, agile and financially solid group, rooted in the regions and with recognised expertise in the renewable energy sector. Led by Alexandre ALBANEL and Stéphane MAUREAU, the group is currently undergoing a phase of sustained growth.
UNITe is one of the few companies still regularly building hydroelectric power stations in France. In addition, the company leases a large amount of land in France on a very long-term basis (35 years or more) to develop ground-based photovoltaic installations, often in synergy with an agricultural activity.

ABOUT OMNES CAPITAL

Omnes is a leading private equity firm dedicated to energy transition and innovation. With €6 billion in assets under management, our teams support long-term partnerships with entrepreneurs through our four core businesses: renewable energy, sustainable cities, deeptech and co-investment. For over 20 years, Omnes has been applying its expertise to help businesses grow in more than 15 countries, with a particular focus on sustainable development. As part of its approach as a responsible investor, the company has created the Omnes Foundation to support non-profit organisations working for children and young people in the fields of education, health, social and economic integration.

ABOUT BPIFRANCE

Bpifrance finances companies – at every stage of their development – with credit, guarantees and equity capital. Bpifrance supports them in their innovation and international development projects. Bpifrance now also covers their export activities through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and ETIs are also part of the offer available to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, single and efficient contact to help them face their challenges.
Within Bpifrance’s Private Equity direct investment team, (28 Bn€ AuM, 700 portfolio companies), the Impact & Environment team (500 M€ AuM, 40 portfolio companies) invests in climate & environmental solutions. The team’s mission is to structure the energy and ecological transition sectors by providing equity solutions as well as the tailorized support needed for the growth of key players active in addressed sectors.

Follow us on Twitter: @Bpifrance @BpifrancePresse

ABOUT SOCIETE GENERALE CAPITAL PARTENAIRES

Société Générale Capital Partenaires (SGCP) supports shareholder-managers of SMEs and ETIs in their development and proximity approach. SGCP takes minority stakes in companies’ capital, with investments ranging from €1 million to €35 million in various contexts: development through external or organic growth, capital transfer, shareholder restructuring, and financial structure optimization. Each year, SGCP teams, based in Paris, Lille, Strasbourg, Lyon, Marseille, Bordeaux, and Rennes, invest between €150 million and €200 million in around twenty operations, reaffirming their long-term commitment to supporting business financing and the economy.

MEDIA CONTACTS

ARDIAN

UNITE

OPEN2EUROPE

a.noel@open2europe.comh.bouali@open2europe.com

OMNES CAPITAL

BPI FRANCE

JULIETTE FONTANILLAS

juliette.fontanillas@bpifrance.fr

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The Indo-Pacific Partnership For Prosperity, Global Infrastructure Partners And KKR Lead Creation Of Coalition To Mobilize Infrastructure Investment In The Indo-Pacific Region

KKR

SINGAPORE – June 6, 2024 – Today the Indo-Pacific Partnership for Prosperity (IP3), Global Infrastructure Partners (GIP), and KKR announced the formation of a new coalition to catalyze infrastructure investment in the emerging market partner economies of the Indo-Pacific Economic Framework (IPEF). GIP and KKR will serve as co-chairs of the new initiative.

The coalition aims to accelerate investment in infrastructure and support IPEF economies in achieving their economic development, human capital and sustainability goals. Coalition members will help facilitate the identification, promotion, and development of successful infrastructure projects across the region. They will also support coordination with governments, multilateral development banks and development finance institutions to create solutions to de-risk investments.

The co-chairs and IP3 will be joined in the coalition by other global investors and partners including: Allied Climate PartnersBlackRockGICThe Rockefeller Foundation, and Temasek. The coalition estimates that its members, taken together, have over $25 billion (USD) in capital that can be deployed in Indo-Pacific emerging market infrastructure investments in the coming years.

The coalition also includes the Center on Global Energy Policy (CGEP) at Columbia University’s School of International and Public Affairs (SIPA) as a knowledge partner.

“This coalition will play a vital role in increasing private infrastructure investment in Indo-Pacific emerging markets,” said David Talbot, Executive Director of IP3. “The coalition brings together Indo-Pacific investors, knowledge partners, governments, and development experts around the achievable mission of closing the investment gap in IPEF partner countries. IP3’s unmatched network of public, private and non-profit leaders is excited to help lead the formation of this investment accelerator.”

“GIP and KKR are proud to be leading this effort to help catalyze and enable infrastructure investment in the Indo-Pacific,” said Matt Harris, GIP Founding Partner and Co-Chairman of the investor coalition. “Together, we look forward to helping IPEF countries further their economic development and harness the opportunity private capital provides to advance efficiency and resilience in critical infrastructure.”

“There is a significant need to accelerate infrastructure investment to support Indo-Pacific countries in achieving their economic ambitions,” said Joe Bae, Co-Chief Executive Officer, KKR and Co-Chairman of IP3 and the investor coalition. “As one of the largest infrastructure investors in Asia, we see tremendous long-term opportunities in the region’s infrastructure and look forward to collaborating with the coalition to increase the deployment of private capital in the Indo-Pacific region.”

The coalition will initially focus on scaled infrastructure investments across the energy, transportation, water and waste, and digital sectors.

 

About Indo-Pacific Partnership for Prosperity

The Indo-Pacific Partnership for Prosperity (IP3) is a collaboration of public, private, and non-profit leaders dedicated to mobilizing capital and expertise to advance economic growth, sustainability, and inclusivity in the fourteen partner countries of the Indo-Pacific Economic Framework (IPEF). IP3 is a non-profit, non-governmental organization that works with partners across the region to strengthen the resilience of critical supply chains, accelerate the energy transition, and bolster workforce development and upskilling. For additional information, visit: https://www.indopacificpartnership.org/.

Launched in May of 2022, The Indo-Pacific Economic Framework (IPEF) is an initiative between the United States, Australia, Brunei, Fiji, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam, which seeks to advance the resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the 14 IPEF economies. This partnership revolves around three of the Framework’s pillars to include supply chains, clean economy, and fair economy.

 

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Global Infrastructure Partners (GIP)

Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.

GIP has approximately $112 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $73 billion and employ over 115,000 people. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our investors’ capital and to create positive economic impact for communities. For more information, visit www.global-infra.com.

Indo-Pacific Partnership for Prosperity (IP3) Media Contact

Matt McAlvanah

+1-202-341-9362

media@indopacificpartnership.org

Global Infrastructure Partners (GIP) Media Contact

Mustafa Riffat
+1-646-216-7788
mustafa.riffat@global-infra.com

KKR Media Contact

Liidia Liuksila

+1-212-750-8300

media@kkr.com

 

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Platinum Equity to Acquire Sunrise Medical

Investment in Germany-based maker of wheelchairs and mobility solutions adds to momentum of Platinum’s European investment team

LOS ANGELES (June 5, 2024) – Platinum Equity announced today the signing of a definitive agreement to acquire Sunrise Medical, a world leader in advanced assistive mobility solutions, from Nordic Capital.

Financial terms were not disclosed. The acquisition is expected to be completed in Q3 2024, subject to customary regulatory approvals.

Sunrise Medical, a global market leader for assistive mobility solutions, is active in the development, design, manufacturing, and distribution of assistive mobility products and solutions such as manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, seating and positioning systems as well as daily living aids and other home medical equipment. Products are marketed under the Quickie, RGK, Magic, JAY, Zippie, Leckey, Breezy, Sterling and other proprietary brands and are sold through a network of homecare medical product dealers or distributors in over 130 countries.

Headquartered in Malsch, Germany with North American headquarters in Fresno, California, the company has manufacturing facilities in the United States, Mexico, Germany, United Kingdom, Spain, and China.

“Sunrise Medical is an innovative, global company that has been a pioneer in mobility solutions for more than 40 years,” said Platinum Equity Co-President Louis Samson. “We believe strongly in the company’s core mission and are committed to partnering with the management team to continue investing in development of advanced clinical solutions tailored to the individual needs of people who depend on them.”

Thomas Babacan, President and CEO of Sunrise Medical, will continue leading the company following the transition to new ownership.

“We are a purpose-driven company with the ability to positively impact people’s lives,” said Babacan. “As we continue to innovate and grow, we have the opportunity to be impactful on an even larger scale. Platinum has a lot of experience supporting complex, global businesses and the firm’s financial resources and operational expertise will be especially valuable to our mission. We are excited about the opportunities ahead.”

The acquisition is being led by Platinum Equity’s European investment team based in London.

“Sunrise Medical has established an impressive global network serving the mobility needs of people around the world,” said Platinum Equity Managing Director Igor Chacartegui. “We will continue investing in organic growth and also pursue acquisitions that can expand or fill in gaps in the company’s product line, provide new technological capabilities, or further extend the company’s geographic reach.”

JP Morgan is serving as financial advisor to Platinum Equity on the acquisition of Sunrise Medical. Willkie Farr & Gallagher LLP is providing legal counsel and Latham & Watkins LLP is providing regulatory counsel to Platinum Equity on the transaction.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Sunrise Medical

Committed to improving people’s lives, Sunrise Medical is a global leader in the development, design, manufacturing, and distribution of innovative, high-quality assistive mobility devices and services. Distributed in more than 130 countries under its own 18 proprietary brands, the key products include manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, daily living aids and more. Operating in 23 countries, Sunrise Medical Group is headquartered in Malsch, Germany and employs over 2,800 associates worldwide. For further information, please visit: https://sunrisemedical-group.com/.

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Emera Completes Transaction To Transfer Equity Interest In Labrador Island Link

KKR

HALIFAX, Nova Scotia–(BUSINESS WIRE)–Emera Inc. (“Emera”) (TSX:EMA) today announced the previously announced transaction where KKR would acquire Emera’s indirect minority equity interest in the Labrador Island Link (LIL), has closed effective today. The LIL is a 1,100 km high voltage transmission line that delivers renewable energy to Newfoundland, Nova Scotia and beyond, helping meet the growing demand for clean energy across the region. The transaction was originally announced on May 28, 2024.

About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $39 billion in assets and 2023 revenues of $7.6 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedarplus.ca.

Forward Looking Information
This news release contains forward‐looking information within the meaning of applicable securities laws, including statements concerning the acquisition of Emera’s indirect interest in the LIL by KKR, Emera’s future financial performance, the service life of the LIL, Emera’s engagement in the LIL, including future sustaining capital investments, and market conditions and demand for clean energy in Atlantic Canada in the future. Undue reliance should not be placed on this forward-looking information, which applies only as of the date hereof. By its nature, forward‐looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties. These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. There is a risk that predictions, forecasts, conclusions and projections that constitute forward‐looking information will not prove to be accurate, that Emera’s assumptions may not be correct and that actual results may differ materially from such forward‐looking information. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including under the heading “Business Risks and Risk Management” in Emera’s annual Management’s Discussion and Analysis, and under the heading “Principal Risks and Uncertainties” in the notes to Emera’s annual and interim financial statements, which can be found on SEDAR+ at www.sedarplus.ca.

Contacts

Media
Dina Bartolacci Seely
media@emera.com

 

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KKR Exceeds Acceptance Threshold For Voluntary Public Takeover Offer For ENCAVIS AG

KKR
  • Minimum acceptance threshold of 54.285%1 has been exceeded within the initial acceptance period
  • Acceptance rate amounts to 68.55 percent of all outstanding ENCAVIS AG shares
  • Additional acceptance period to run from 5 June 2024 until 18 June 2024
  • Post-settlement, KKR and the Management Board of Encavis intend to delist Encavis from the stock exchange as soon as legally and practically possible after closing

4 June 2024 – Elbe BidCo AG (the “Bidder”), a holding company controlled by investment funds, vehicles and accounts advised and managed by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (collectively, “KKR”), today announced the result of the initial acceptance period of the voluntary public takeover offer (the “Takeover Offer”) for the shares (ISIN: DE0006095003 / DE0006095003) of ENCAVIS AG (“Encavis”).

At the expiry of the period at 24:00 hrs (local time Frankfurt am Main) on 29 May 2024, the takeover offer had been accepted for 59,899,783 Encavis shares. This corresponds to approximately 68.55 percent of all outstanding Encavis shares, including the ca. 18% of Encavis shares that ABACON and other shareholders will sell and the ca. 13% of Encavis shares that ABACON and other shareholders will roll-over to Bidder under binding agreements. As such, the minimum acceptance threshold of 54.285% has been exceeded.

Post-settlement, Bidder intends to delist Encavis from the stock exchange as soon as legally and practically possible after closing to benefit from financial flexibility and a long-term commitment of KKR and Viessmann under private ownership.

“We are thrilled to have reached this milestone and believe that the long-term vision and financial flexibility of private ownership will unlock significant opportunities for growth and innovation,” said Vincent Policard, Partner and Co-Head of European Infrastructure at KKR. “The intended delisting is the next logical step in this direction, providing Encavis with the flexibility to focus on their core objectives, and creating an even more dynamic framework for the company to thrive in the rapidly evolving energy sector.”

Encavis shareholders continue to have the opportunity to accept the offer within the additional acceptance period, which will start on 5 June 2024 and expire on 18 June 2024 at 24:00 hours (local time Frankfurt am Main).

The voluntary public takeover offer remains subject to the completion of the regulatory conditions outlined in sections 12.1.1, 12.1.3 (ii) to (vii) and 12.1.4 of the offer document. Closing of the transaction is expected in Q4 2024.

On 14 March 2024, Bidder had launched a voluntary public takeover offer for all outstanding free float shares of Encavis. Viessmann invests as a shareholder in a KKR-led consortium.

The offer document and additional information are available at www.elbe-offer.com.


1 This accounts for potential dilution of existing shareholders from conversion of the hybrid convertible bonds; equivalent to 50% plus one share in case of a conversion of all of the hybrid convertible bonds.

###

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.

 

KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 115 dedicated investment professionals. The firm currently oversees approximately USD 59 billion in infrastructure assets globally as of 31 December 2023, and has made over 80 infrastructure investments across a range of sub-sectors and geographies. KKR’s infrastructure platform is devised specifically for long-term, capital intensive structural investments.

 

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

 

About Viessmann

Founded in 1917, the independent family company Viessmann is today a global, broadly diversified Group. All activities are based on the company’s purpose “We co-create living spaces for generations to come”. This is the passion and responsibility that the large worldwide Viessmann family brings to life every day. Following this purpose, Viessmann forms an ecosystem of entrepreneurs and co-creators with a clear focus on CO2 avoidance, CO2 reduction and CO2 capturing.

 

About ABACON

ABACON CAPITAL, a family-owned investment firm, champions the sustainable energy transition, pioneering mobility solutions, and groundbreaking deep tech. Our mission centers on uplifting communities, fostering purposeful endeavors, and ensuring profitability, all while advancing societal and environmental well-being.

 

Founded by Albert Büll, a visionary entrepreneur and investor with a legacy in nurturing sustainable enterprises – such as B&L Group in real estate development, Encavis AG in renewable energy production, and noventic in smart metering and energy management – ABACON is built on a foundation of innovation and responsibility.

 

About Encavis

The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies listed on the MDAX of Deutsche Börse AG. As one of the leading independent power producers (IPP), Encavis acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to more than 3.5 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has around 1.2 GW of capacity under construction, of which around 830 MW are own assets.

 

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

 

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-).

 

Additional information can be found on www.encavis.com

 

 

KKR media contact

 

Thea Bichmann

Mobile: +49 (0) 172 13 99 761

Email: kkr_germany@fgsglobal.com

Emily Lagemann

Mobile: +49 (0) 171 86 79 950

Email: kkr_germany@fgsglobal.com

 

 

Viessmann media contact

 

Byung-Hun Park

Vice President Corporate Communication

Mobile: + 49 (0) 151 64911317

Email: huni@viessmann.com

 

 

Disclaimer and forward-looking statements

This press release is neither an offer to purchase nor a solicitation of an offer to sell Encavis shares. The final terms of the takeover offer, as well as other provisions relating to the takeover offer are set out solely in the offer document authorized for publication by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). Investors and holders of Encavis shares are strongly advised to read the offer document and all other documents relating to the takeover offer, as they contain important information. The offer document for the takeover offer (in German and a non-binding English translation) with the detailed terms and conditions and other information on the takeover offer is published amongst other information on the internet at www.elbe-offer.com.

The takeover offer will be implemented exclusively on the basis of the applicable provisions of German law, in particular the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG), and certain securities law provisions of the United States of America relating to cross-border takeover offers. The takeover offer will not be conducted in accordance with the legal requirements of jurisdictions other than the Federal Republic of Germany or the United States of America (as applicable). Accordingly, no notices, filings, approvals or authorizations for the takeover offer have been filed, caused to be filed or granted outside the Federal Republic of Germany or the United States of America (as applicable). Investors and holders of Encavis shares cannot rely on being protected by the investor protection laws of any jurisdiction other than the Federal Republic of Germany or the United States of America (as applicable). Subject to the exceptions described in the offer document and, where applicable, any exemptions to be granted by the respective regulatory authorities, no takeover offer will be made, directly or indirectly, in those jurisdictions in which this would constitute a violation of applicable law. This press release may not be released or otherwise distributed in whole or in part, in any jurisdiction in which the takeover offer would be prohibited by applicable law.

The Bidder reserves the right, to the extent permitted by law, to directly or indirectly acquire additional Encavis shares outside the takeover offer on or off the stock exchange, provided that such acquisitions or arrangements to acquire are not made in the United States, will comply with the applicable German statutory provisions, in particular the WpÜG, and the offer price is increased in accordance with the WpÜG, to match any consideration paid outside of the takeover offer if higher than the offer price. If such acquisitions take place, information on such acquisitions, including the number of Encavis shares acquired or to be acquired and the consideration paid or agreed, will be published without undue delay if and to the extent required under the laws of the Federal Republic of Germany, the United States or any other relevant jurisdiction. The takeover offer relates to shares in a German company admitted to trading on the Frankfurt Stock Exchange and Hamburg Stock Exchange and is subject to the disclosure requirements, rules and practices applicable to companies listed in the Federal Republic of Germany, which differ from those of the United States and other jurisdictions in certain material respects. The financial information relating to the Bidder and Encavis included elsewhere, including in the offer document, are prepared in accordance with provisions applicable in the Federal Republic of Germany and are not prepared in accordance with generally accepted accounting principles in the United States; therefore, it may not be comparable to financial information relating to United States companies or companies from other jurisdictions outside the Federal Republic of Germany. The takeover offer will be made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, and on the basis of the so-called Tier II exemption from certain requirements of the Exchange Act, which exemption allows a bidder to comply with certain substantive and procedural rules of the Exchange Act for takeover bids by complying with the law or practice of the domestic legal system and exempts the bidder from complying with certain other rules of the Exchange Act, and otherwise in accordance with the requirements of the laws of the Federal Republic of Germany. Shareholders from the United States should note that Encavis is not listed on a United States securities exchange, is not subject to the periodic requirements of the Exchange Act and is not required to, and does not, file any reports with the United States Securities and Exchange Commission.

Any contract entered into with the Bidder as a result of the acceptance of the takeover offer will be governed exclusively by and construed in accordance with the laws of the Federal Republic of Germany. It may be difficult for shareholders from the United States (or from elsewhere outside of Germany) to enforce certain rights and claims arising in connection with the takeover offer under United States federal securities laws (or other laws they are acquainted with) since the Bidder and Encavis are located outside the United States (or the jurisdiction where the shareholder resides), and their respective officers and directors reside outside the United States (or the jurisdiction where the shareholder resides). It may not be possible to sue a non-United States company or its officers or directors in a non-United States court for violations of United States securities laws. It also may not be possible to compel a non-United States company or its subsidiaries to submit themselves to a United States court’s judgment.

To the extent that this press release contains forward-looking statements, they are not statements of fact and are identified by the words “intend”, “will” and similar expressions. These statements express the intentions, beliefs or current expectations and assumptions of the Bidder and the persons acting jointly with it. Such forward- looking statements are based on current plans, estimates and projections made by the Bidder and the persons acting jointly with it to the best of their knowledge, but are not guarantees of future accuracy (this applies in particular to circumstances beyond the control of the Bidder or the persons acting jointly with it). Forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and are usually beyond the Bidder’s control or the control of the persons acting jointly with it. It should be taken into account that actual results or consequences in the future may differ materially from those indicated or contained in the forward-looking statements. It cannot be ruled out that the Bidder and the persons acting jointly with it will in future change their intentions and estimates stated in documents or notifications or in the offer document.

 

 

 

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Gamma Biosciences Announces Sale Of Mirus Bio To Merck For $600 Million

KKR

MENLO PARK, Calif. and MADISON, Wis., May 23, 2024 – Gamma Biosciences, a life sciences platform established by KKR to address the advanced therapy bioprocessing market, today announced that it has entered into an agreement with Merck (XTRA:MRK), a leading science and technology company, whereby Merck will acquire Gamma operating company Mirus Bio for $600 million in cash.

Mirus Bio is a leading provider of innovative transfection solutions used for the delivery of genetic material into cells. The company offers a comprehensive portfolio of RUO and GMP reagents and enhancers based on proprietary, multi-component technology. Its products deliver high-performance and cost-effective transfection for a variety of applications, from research through virus manufacturing at scale to address rapidly growing cell and gene therapy applications in AAV & LV.

Gamma acquired a controlling stake in Mirus Bio in 2021 and has worked closely with the company to support its growth and scale-up, including the launch of flagship products VirusGEN® GMP and RevIT™ AAV Enhancer for large-scale therapeutic adeno-associated virus and lentivirus production.

“Over the last several years, we have had the pleasure of supporting Dale and the team at Mirus as they have worked to make these best-in-class transfection products available to cell and gene therapy developers while maintaining the company’s long-standing commitment to the research community” said Matt Gunnison, CEO of Gamma Biosciences. “We are very proud of the progress that Mirus has made and are delighted that it will now become part of Merck, who we believe is the ideal partner to continue this strong trajectory.”

Dale Gordon, Chief Executive Officer of Mirus Bio, added “With the support of Gamma Biosciences and KKR, we have commercialized our scalable GMP delivery platforms for clinical use and significantly strengthened our position in the cell and gene therapy market. I look forward to this new era with Merck as we continue to expand our GMP portfolio with relevant, cutting-edge tools our customers need to develop affordable, life-saving advanced therapies.”

“Gamma’s investment in Mirus Bio reflects KKR’s commitment to driving innovation in the life sciences sector,” said Kugan Sathiyanandarajah, Partner at KKR and Head of Europe for KKR’s Health Care Strategic Growth strategy, and Anuv Ratan, Director at KKR. “The advancements achieved together with the Mirus team, from scaling commercial operations to launching new product lines, further underscore the strong value-creation potential of our strategic approach.”

The transaction is expected to be completed in the third quarter of 2024, subject to US regulatory approvals, as well as other customary closing conditions. Jefferies LLC acted as financial advisor to Gamma and Sidley Austin LLP acted as legal advisors to Gamma.

About Gamma Biosciences
Gamma Biosciences is a leading life sciences platform providing products and services to support the development and manufacturing of advanced biologic therapies. Our operating companies are committed to advancing the science and art of bioprocessing by delivering market-ready innovation and expertise that helps our customers.

About Mirus Bio
Mirus Bio is a leading provider of transfection products for the biopharmaceutical and research industries, offering best-in-class reagents for gene therapy, recombinant protein, and stem cell applications. A pioneer in nucleic acid delivery, the company has been enabling scientific research and innovation for more than two decades. In 2021, Mirus introduced VirusGEN® GMP Transfection Reagent and Enhancers to address the commercial biopharmaceutical and cell and gene therapy markets with support for virus manufacturing, gene editing, and biotherapeutic protein production.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

 

Media Contacts

Mirus Bio
Nat Connors
Mobil: +608 867-6465
E-Mail: nat.connors@mirusbio.com

KKR
FGS Global
Alastair Elwen
+44 20 7251 3801
KKR-Lon@FGSGlobal.com

KKR Germany
Thea Bichmann
M: +49 172 13 99 761
kkr_germany@fgsglobal.com

 

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Consor Holdings Announces Growth Investment from New Mountain Capital

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New Mountain Capital

New York, NY – June 3, 2024 – Consor Holdings LLC (“Consor” or the “Firm”), a leading provider of transportation and water infrastructure engineering and consulting services, and New Mountain Capital, LLC (“New Mountain”), a leading growth-oriented investment firm with approximately $50 billion in assets under management, today announced a significant investment from affiliates of New Mountain to support the Firm’s continued growth. Consor’s leadership team and employees retained a significant ownership stake in the Firm.

With roots dating back over 40 years, Consor provides civil infrastructure planning, engineering design, structural assessment, program management, and consulting services to public and private sector clients across transportation and water markets. Consor is well-established in the largest, growing markets within North America.

“New Mountain is our ideal partner. They believe in our long-term vision and bring extensive industry experience that will help us expand our potential,” said Chris Rayasam, CEO of Consor. “We’re excited about the many ways New Mountain will help support our growth through strategic planning, technology enablement and operational efficiency. This partnership will cultivate more career opportunities for our team members and make an even greater impact on the communities we serve.”

Lars Johansson, Managing Director at New Mountain, said, “Our investment in Consor is the result of New Mountain’s long-standing effort investing in infrastructure services and technology businesses. Chris and the leadership team have built an outstanding business with expertise in key end markets we believe in and that have continual growth opportunities. We are excited to partner with the entire Consor team to continue their strategy of building a legacy as the team of choice for delivering infrastructure solutions.”

“We are thrilled to be partnering with Consor to continue to elevate their brand as industry leaders” said Joe Walker, Managing Director at New Mountain. “We are looking forward to helping Consor expand its geographic reach and service offerings, through a combination of best-in-class organic growth and strategic M&A, to achieve its long-term vision.”

As part of this transaction, Keystone Capital will fully sell its stake in the business after a strong, multi-year partnership with Consor.

“Chris and his team have built an incredible firm with full-service capabilities and an exemplary reputation, and we’ve been proud to support them in their journey,” said Scott Gwilliam, Managing Partner at Keystone Capital. “Consor has tremendous growth potential, and we wish the team great success for the next chapter.”

AEC Advisors LLC served as financial advisor and Ropes & Gray LLP served as legal advisor to New Mountain Capital. Harris Williams and Houlihan Lokey served as financial advisors and DLA Piper served as legal advisor to Consor and Keystone Capital.

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About Consor
Consor is a leading North American transportation and water infrastructure consulting firm offering planning, engineering design, structural assessment, program management, and construction services. Consor has deep relationships with state departments of transportation, municipalities, utilities and other public and private clients throughout the United States and Canada. With over 1,700 employees, Consor is focused on going above, below, and beyond the surface to move people and communities forward by maintaining and improving critical infrastructure. For more information on Consor, please visit https://www.consoreng.com/.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $50 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.

About Keystone Capital

Keystone was founded in 1994 with the objective of investing the personal capital of its partners in high quality, market-leading businesses; patiently building long-term value alongside management through organic growth and strategic acquisitions. Keystone currently manages over $1 billion in capital across two funds. To maintain consistency with its historical investment strategy and align interest across all stakeholders, the principals of Keystone collectively represent the largest single investor in both of these funds, which have been structured with an extended life to support Keystone’s belief in investment period flexibility. In addition to its long history investing in engineering services, Keystone focuses on professional & tech-enabled services, technical services, commercial & industrial services, food & beverage manufacturing, and industrial technology. For more information on Keystone Capital, please visit https://keystonecapital.com/.

Media Contacts

Consor

Whitney Janoska

Consor

Whitney.janoska@consoreng.com

New Mountain Capital

Dana Gorman

H/Advisors Abernathy

(212) 237–5999

dana.gorman@h-advisors.global

Keystone Capital

Erik Gernant

Keystone Capital Management, LP

(312) 219-7969

egernant@keystonecapital.com

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Vendis Capital enters the cosmetic treatment market with the acquisitions of SOAP and BM Clinics

Vendis Capital

Vendis Capital, the European private equity fund specialized in the consumer sector, joins forces with the founders and management of 2 leading Dutch cosmetic clinic chains: SOAP and BM Clinics. Through further acquisitions and the opening of new clinics, the aim is to make the high quality treatments offered by these clinics available to an even larger group of consumers.

Cosmetic treatments are rapidly gaining popularity. Growing interest among women – and also increasingly men – in wellness and personal care has led to strong growth in a wide range of beauty, skin, laser and injectables (botox and fillers) treatments. Over 90% of Dutch people now have a positive or neutral opinion of these products and services, providing a strong foundation for further growth in the years to come.

For the most part, these treatments are still offered in small independent clinics in the Netherlands. Today, the new group has 17 clinics and plans to continuously expand this number. It is precisely because of the scale offered by the new group that the highest quality standards can be guaranteed, the latest treatments offered by the best practitioners and the company can remain at the forefront of quality and service.

SOAP was founded in Amsterdam in 2005 by sisters Esther and Stephanie Litjens. They brought a unique concept – inspired by ‘New York City Spa’s’ – to the Netherlands. SOAP has grown into a premium chain of boutique clinics in the Netherlands with a wide range of beauty treatments – from manicures to facials and from injectables to laser hair removal – and excellent service. Doctor David Mosmuller joined in 2019 to further expand the injectables treatments. The focus is on offering a more natural appearance according to the ‘no trace face’ principle; a fresher, younger appearance without looking treated. Today, SOAP is active in seven cities in the Netherlands with its unique concept.

BM Clinics was started in Eindhoven in 2013 by Monique Vonken and is a value-for-money provider, mainly of injectables. BM has a clear focus on making high-quality treatments accessible to a broad target group through affordable prices. BM sets the highest standards in terms of quality and service, with treatments carried out exclusively by doctors. Today, BM Clinics is active in nine cities in the Netherlands with its affordable concept.

Management of the new group includes Stephanie Litjens and David Mosmuller and is headed by newly appointed CEO David Sloff. David brings considerable experience from his previous roles at Diageo and Procter & Gamble. “I am impressed with the strong brands the founders have established. I look forward to accelerating the company’s growth together, supported by Vendis Capital’s expertise in building brands and their experience in rolling out winning concepts.”

Vendis Capital partner Vincent Braams: “We are excited about the market for non-invasive cosmetic treatments and see SOAP and BM Clinics as strong leaders in this rapidly growing and fragmented market. The group is well positioned to become a European leader through its unique consumer offerings, an experienced and reputable team of physicians, practitioners and staff, and a strong management team. Through the opening of new clinics and an active buy & build strategy we will together accelerate the growth of the group. We already expect to make additional acquisitions in the near future and add these clinics to the group.”

The acquisition of SOAP and BM Clinics and the subsequent formation of the new group represents the first investment for Vendis Capital IV.

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MyDefence, the counter drone technology provider, announces Bridgepoint as new majority shareholder

Bridgepoint
  • MyDefence, a Danish specialist developer of counter drone technology, announces new investment via the Bridgepoint Development Capital IV fund.
  • Bridgepoint will support MyDefence in its next stage of growth, including further investments in research and development as well as production expansion.

 

MyDefence, a leading provider of counter unmanned aerial systems, known as C-UAS or counter drone technology, has announced the global private equity group, Bridgepoint, as its new majority shareholder. The partnership leverages Bridgepoint’s strong track record of supporting international expansion and growth in global technology and advanced industrial sectors. The investment was made via Bridgepoint Development Capital IV (“BDC”), a fund focused on investing in mid-market growth business across Europe.

MyDefence develops radio frequency-powered products to detect and defeat unmanned aerial systems, such as drones. The company’s products can be worn by personnel or mounted to vehicles and buildings, and its technology is used to protect military or civilian critical infrastructure from the safety risks posed by hostile drones. The company has delivered 115% compound annual revenue growth over the last four years and is well-positioned to become a leader in the $1.1 billion addressable market for drone countermeasure solutions with its unique product offering.

With access to capital and strategic support from Bridgepoint, MyDefence is advantageously placed to expand its reach globally and reinforce its position as a leader in C-UAS and other technologies with civil and defence applications. The partnership will enable MyDefence’s next phase of growth with a focus on the scaling of production, professionalization, and research and development.

Dan Hermansen, CEO at MyDefence, said:

“We are delighted to partner with the Bridgepoint team. Their extensive presence worldwide and their experience helping companies grow is valuable to us. Adding us to Bridgepoint’s vast network not only gives us financial support, but it also puts us on a path for faster development and innovation. C-UAS systems are among the most important next-generation defence technologies and MyDefence is at the forefront of all cutting-edge innovations required to meet the difficulties facing drone defence today.”

Johan Gustafsson, Partner at Bridgepoint Development Capital, said:

“We have built a very strong relationship with Dan and his team, whose wealth of experience bridges the defence and security arenas. With a suite of products at the forefront of technology, MyDefence enjoys an enviable position in the market, underpinned by a robust orderbook and pipeline with significant scale-up opportunities. We look forward to leveraging the complete breadth of capabilities across our international network to help realise this exciting next stage of MyDefence’s journey.” 

 

Poised for global expansion and further innovation

With a significant number of C-UAS systems supplied already, MyDefence has proven to be a dependable technology-provider in the defence industry. With the support of Bridgepoint, MyDefence is now ready to expand its technology offering, not only in defence but additionally in corporate, governmental and homeland security sectors.

This reflects the growing demand for comprehensive security measures against hostile drone threats across a range of applications, including the protection of critical infrastructure, including utilities like gas and electricity, public venues like stadia and event spaces, and high-security institutions such as prisons.

Financial terms of the transaction were not disclosed.

MyDefence was advised by PwC (M&A adviser), Plesner (legal adviser), and KPMG (financial and tax adviser). Bridgepoint was advised by SEB (M&A adviser), Accura (legal adviser, tax due diligence and structuring), Renaissance Strategic Advisers (commercial due diligence), Alvarez & Marsal (financial and operational due diligence), Crosslake (technology due diligence), ERM (ESG due diligence), and Marsh (insurance due diligence).

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