Adelis acquires Mobilhouse – targeting accelerated growth

Adelis Equity

Adelis Equity Partners (“Adelis”) has acquired a majority share in Mobilhouse, a company that manufactures, sells and leases modular buildings that can be used for offices, schools, student housing, temporary accommodation and on building sites.

Adelis is investing in Mobilhouse, which the past few years has seen strong growth and in 2018 closed to tripled its earnings. The positive development continued during 2018 and will be accelerated under Adelis’ ownership.

Mobilhouse was founded initially in 1961 as a manufacturer of modular spaces for the construction industry. Since then, the business has gone through a significant transformation and today around 100 employees manufacture and deliver the company’s standard modules and tailored solutions to private and public sector customers across Denmark.

”Mobilehouse has delivered solid financial results for a number of years and is poised for continued success in markets that offer good growth opportunities. We are seeing a significant increase in demand for temporary and permanent housing as well as office- and school- buildings, areas where Mobilhouse has a strong market position. We already have the necessary experience and expertise required to develop and manufacture mobile solutions for an increasing number of customers. With access to Adelis’ management experience and capital we will be able to develop and scale the business to accelerate growth further,” says Benny Møller, CEO of Mobilhouse.

”There is a rising need for both temporary and permanent square metres, and Mobilhouse has created a solid platform for growth through the opening of a new manufacturing facility in March 2018 and through its strong concept and know-how. In addition, the development is creating a good starting point for expanding the rental portfolio. We are looking forward to contributing with strategic insights and targeted investments, so that we together with management and employees can create the optimal platform for leveraging Mobilhouse’s strong position and the attractive market trends,“ says Steffen Thomsen from Adelis.

The investment is Adelis’ sixth in the Danish market since the firm was founded in 2012. In connection with the transaction current management will become minority owners.

For further information:

Benny Møller, Mobilhouse, +45 20 20 62 66,bm@mobilhouse.dk

Steffen Thomsen, Adelis Equity Partners, +45 40 28 34 09, steffen.thomsen@adelisequity.com

Mobilhouse

Mobilhouse manufactures, sells and leases modular buildings that can be used for offices, schools, student housing, temporary accommodation and on building sites. The business was founded in 1961 and has 40 permanent and 55 temporary employees that manufacture and deliver standard modules and tailored solutions to private and public sector customers across Denmark. Mobilhouse is headquartered and has two manufacturing sites in Fredericia as well as offices, a warehouse and final assembly in Bjæverskov. For more information please visit www.mobilhouse.dk.

Adelis Equity Partners

Adelis is an active partner in creating value at mid-sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 19 companies and making more than 50 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visitwww.adelisequity.com.

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ARDIAN sells its minority stake in SPIE BATIGNOLLES

Ardian

EMZ Partners, Tikehau Capital, Société Générale Capital Partenaires, IDIA Capital Investissement and SOCADIF support the management of Spie batignoles

Paris, 23 January 2019 – Ardian, a world-leading private investment house, today announces the sale of its 18% stake in Spie batignolles, the major construction, infrastructure and services group.

Following the transaction, 200 Spie batignolles managers will own shares in the company, placing them shoulder to shoulder with the management team headed up by Jean-Charles Robin, President of Spie batignolles.

360 Spie batignolles employees now together hold a majority stake in the firm, alongside the following new financial investors: EMZ Partners, Tikehau Capital through its asset management subsidiary Tikehau Investment Management, Société Générale Capital Partenaires, IDIA Capital Investissement and SOCADIF (Crédit Agricole).

Spie batignolles focuses on six areas of expertise: construction, civil engineering and foundations, energy, public works, real estate and concessions. The complementarity of its businesses allows the Group to support clients in all types of projects.
Spie batignolles operates in 170 locations in France and nine internationally. The Group employs more than 7000 people and its turnover in 2018 was €2 billion.

Since Ardian became a shareholder in 2014, Spie batignolles has achieved strong organic growth in its French business and has been involved in a range of flagship projects, including Grand Paris (which focuses on metro lines, stations and control centres) and the Lyon-Turin rail link.

Spie batignolles also offers its clients international support in Europe, Western Africa and the Middle East. The Group’s dynamic external growth strategy (eight acquisitions in the last three years) has provided the company with a strong geographic network and a substantially expanded offering. Indeed, in 2018, the company hired nearly 1 000 new employees to support its international expansion.

François-Xavier Clédat, Chairman of the Spie batignolles Supervisory Board, said, “I am grateful for our 2014 partnership with Ardian, and for the contribution the team has made to the development of the Group. Spie batignolles today boasts a talented management team and is in excellent financial health, giving us the assurance to look to the future with confidence.”

Jean-Charles Robin, President of Spie batignolles, added: “Our Group is entering a new stage of development with a strategic plan in place, that takes us up to 2022. The transformation of our ways of working, informed by our innovative and unique approach, demonstrates our focus on creating value that we can share with our employees, clients and partners. The commitment shown by our new investors is testament to their confidence in the quality of the Group.”

Alexis Lavaillote, Managing Director of Ardian Expansion, added: “We are pleased to have had the opportunity to work with Spie batignolles over the last five years. We have supported many of the projects put forward by its management and its talented teams focusing on external growth, international development and ESG. We are proud of the path we have trodden together and wish the company all the best in the future.”

Thierry Raiff, President of EMZ Partners, added:  “In all our discussions, we have appreciated the dynamism and professionalism of Spie batignolles teams; their commitment to this new transaction provides us with confidence in the group’s ability to achieve the ambitious objectives set for the coming years.”

ABOUT SPIE BATIGNOLLES

Spie batignolles, has six major sectors of activity: construction, civil engineering and foundations, energy, public works, real estate and concessions.
Spie batignolles’ references include emblematic projects such as the renovation of the Maison de la Radio, the EDF Saclay research centre, ITER, the Palais des congrès du Havre, the A10, A9, A466 motorway sites, the MGEN Institute in La Verrière, the TGI in Strasbourg, the Lyon-Turin rail link and the work undertaken in the context of Grand Paris.
The group also carries out local interventions, maintenance and care throughout the country through a network of dedicated agencies.
Spie Batignolles positions itself on its markets as a leader in “customer relations” and develops a policy of differentiating partnership offers.
Spie batignolles operates in 170 locations in France and nine internationally. The Group employs more than 7000 people and its turnover in 2018 was €2 billion.
Spie Batignolles has given itself the means to manage its development independently. Since September 2003, the group has been majority controlled by its managers and employees.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$82bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 560 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT EMZ PARTNERS

Based in Paris, EMZ Partners professionals have completed since 1999, 122 investments (for a total amount of 3 billion euros) in fast growing French companies. EMZ investments are comprised between 10 and 120 million euros. The company focuses on evolution of the shareholding structure (as for Spie Batignolles), or build-up financing.The transaction has been followed by Thierry Raiff, Bruno Froideval, Ajit Jayaratnam and Ludovic Bart.

ABOUT TIKEHAU CAPITAL

Tikehau Capital is an asset management and investment group, which manages €15.9 bn of assets (as at 30 September 2018), with shareholders’ equity of €2.3 bn (as at 30 June 2018). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 260 staff (as at 30 September 2018) in its Paris, London, Brussels, Madrid, Milan, New York, Seoul and Singapore offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)

ABOUT SOCIETE GENERALE CAPITAL PARTENAIRES

For more than 30 years, Société Générale Capital Partenaires (SGCP) has been providing shareholder managers of SMEs and SMIs with a transparent and local approach. SGCP is involved in minority equity investments ranging from €500k to €35m in various contexts: development through external or organic growth, takeover or transfer, restructuring of shareholders, optimization of the financial structure.
Fully integrated into the French Retail Banking network and the Société Générale Entrepreneurs system launched in early 2016, SGCP’s teams are very close to French SMEs, thanks to their Investment Managers in Paris, Lyon, Bordeaux, Lille, Strasbourg, Rennes and Marseille. In 2018, SGCP invested €100 million in some 20 operations, confirming its commitment to corporate and economic financing.

ABOUT IDIA CAPITAL INVESTISSEMENT / SOCADIF CAPITAL INVESTISSEMENT

IDIA Capital Investissement gathers the minority investments completed by Crédit Agricole SA supporting SMEs from all sectors. IDIA Capital Investissement manages €1.5 billion (via CARD, CA Grands Crus, Grands Crus Investissements, IDIA Participations and SOFIPAR …). Investment ticket is comprised between €1 and €50 million. IDIA has around 100 companies in its portfolio. IDIA is a management company with AMF agreement n° GP-15000010
SOCADIF Capital Investissement, a subsidiary of Crédit Agricole d’Ile-de-France, has been active in the private equity market since 1990. With a SCR status and remaining a minority shareholder in the capital of the ETIs and SMEs supported, SOCADIF has a unitary intervention capacity of up to €10 million which can be increased to €50 million by bringing together other structures of the Crédit Agricole group. Generalist and deliberately very diversified, SOCADIF is now a partner of some thirty companies.

LIST OF PARTICIPANTS

EMZ Partners: Thierry Raiff, Charles Mercier, Nicolas Gautier
SGCP :Marc Dupuy
IDIA Capital Investissement: Arnaud Pradier, Nicolas Lambert, François Lecourt
SOCADIF Capital Investissement: Emmanuel David, Luis Batista
Finance investment advisors:
Transaction: Ernst &Young Advisory (Olivier Catonnet)
Legal: Cabinet Depardieu (Jean-François Pourdieu, Sandra Benhaïm )
Financial: KPMG (Vincent Delmas)

Sellers :
Ardian Expansion: Alexis Lavaillote, Caroline Pihan
Legal Advisor: Latham & Watkins (Olivier du Mottay, Elise Pozzobon)

M&A: SGCIB (Guillaume Dovillers) / CACIB (Yves Kieken)
Financial VDD: Deloitte (Thierry Quéron, Xavier Evano)

King and Spalding: Laurent Bensaid
Arsene Taxand: Alexandre Rocchi

PRESS CONTACTS

SPIE BATIGNOLLES
Agence FP&A
Audrey Segura – Frédérique Pusey
Tel: +331 30 09 67 04
M: +336 23 84 51 50
audrey@fpa.fr – fred@fpa.fr
ARDIAN
Headland
Viktor Tsvetanov
IDIA CAPITAL INVESTISSEMENT
MARIE CATHERINE CORNIC
Tel: +331 43 23 43 69

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Sika makes binding offer to acquire Parex

Combining two “growth engines”, highly complementary in product offering and channel penetration

Sika has made a binding offer to acquire Parex from its current owner CVC Fund V. Parex is a leading manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars. In 2018 the company generated sales of CHF 1.2 billion and an expected EBITDA of around CHF 195 million. With its expertise in mortar solutions for renovation and new builds, Parex participates in all phases of the construction life cycle. Parex has a particularly strong presence in distribution channels, combining recognised brands with R&D expertise and technical excellence. It is locally present in 23 countries with key positions in 8 core geographies and operates 74 plants around the world.

Paul Schuler, CEO of Sika: “Parex is an excellent company with well recognised brands and an impressive performance track record. The businesses of Parex and Sika are highly complementary. Using Parex technologies as a growth platform in all our 101 countries and cross-selling of our products to the well established distribution channels of Parex will generate great profitable growth. Parex’s excellent facade business can be leveraged in the entire Sika world. We warmly welcome all employees of Parex to the Sika Family. We look forward to working with the Parex team and we are excited about expanding our joint business operations.”

Eric Bergé, CEO of Parex: “Under CVC Fund V’s ownership, the Parex team has delivered a very strong performance, growing sales from EUR 750 million in 2013 to over EUR 1 billion. Over this 5-year period, Parex entered 3 new countries and opened 16 new plants, added 11 bolt-on acquisitions, and built a new international R&D center. Sika represents a great platform to continue to deliver on Parex’s ambitious growth plan and the combination creates new exciting opportunities in terms of offering new solutions to our customers and continuing our geographic expansion. I would like to thank our sponsor, CVC Capital Partners, our teams across the world, and our customers for their trust and support in these past five years, and we look forward to working with Sika in the future.”

With this acquisition Sika will further strengthen its leading position in construction chemicals and industrial adhesives and will reach sales in excess of CHF 8 billion. It will deepen and widen Sika’s growth platform. Its mortar business, which is a key growth technology for the group and one of its important earning contributors, will more than double in size to CHF 2.3 billion. Parex’s strong position in distribution channels will open up new business opportunities for Sika’s product range. Parex will gain access to Sika’s well established direct sales channels and Parex’s expertise in the facade and tile setting business will allow Sika to participate in these growing and attractive market fields.

Financial Parameters

Annual synergies are expected to be in the range of CHF 80-100 million. Purchase price represents a 11.3x EV / pro forma EBITDA 19E multiple which will come down to less than 8.5x EV/EBITDA, including full run-rate synergies. The acquisition is value enhancing to Sika shareholders and is expected to be accretive to Sika’s earnings per share from the first full year post closing. The financing of the transaction is secured by a bridge loan facility committed by UBS and Citi. Sika remains committed to maintaining a strong investment grade credit rating and intends to put in place a long-term funding structure comprising a combination of cash-on-hand, bank loans, and capital market instruments.

The acquisition is implemented in various steps. The parties have signed an exclusive binding offer. The completion of the transaction is subject to French works council consultation process and regulatory approvals and is expected in Q2/Q3 2019.

 

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Sika makes binding offer to acquire Parex

Combining two “growth engines”, highly complementary in product offering and channel penetration

Sika has made a binding offer to acquire Parex from its current owner CVC Fund V. Parex is a leading manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars. In 2018 the company generated sales of CHF 1.2 billion and an expected EBITDA of around CHF 195 million. With its expertise in mortar solutions for renovation and new builds, Parex participates in all phases of the construction life cycle. Parex has a particularly strong presence in distribution channels, combining recognised brands with R&D expertise and technical excellence. It is locally present in 23 countries with key positions in 8 core geographies and operates 74 plants around the world.

Paul Schuler, CEO of Sika: “Parex is an excellent company with well recognised brands and an impressive performance track record. The businesses of Parex and Sika are highly complementary. Using Parex technologies as a growth platform in all our 101 countries and cross-selling of our products to the well established distribution channels of Parex will generate great profitable growth. Parex’s excellent facade business can be leveraged in the entire Sika world. We warmly welcome all employees of Parex to the Sika Family. We look forward to working with the Parex team and we are excited about expanding our joint business operations.”

Eric Bergé, CEO of Parex: “Under CVC Fund V’s ownership, the Parex team has delivered a very strong performance, growing sales from EUR 750 million in 2013 to over EUR 1 billion. Over this 5-year period, Parex entered 3 new countries and opened 16 new plants, added 11 bolt-on acquisitions, and built a new international R&D center. Sika represents a great platform to continue to deliver on Parex’s ambitious growth plan and the combination creates new exciting opportunities in terms of offering new solutions to our customers and continuing our geographic expansion. I would like to thank our sponsor, CVC Capital Partners, our teams across the world, and our customers for their trust and support in these past five years, and we look forward to working with Sika in the future.”

With this acquisition Sika will further strengthen its leading position in construction chemicals and industrial adhesives and will reach sales in excess of CHF 8 billion. It will deepen and widen Sika’s growth platform. Its mortar business, which is a key growth technology for the group and one of its important earning contributors, will more than double in size to CHF 2.3 billion. Parex’s strong position in distribution channels will open up new business opportunities for Sika’s product range. Parex will gain access to Sika’s well established direct sales channels and Parex’s expertise in the facade and tile setting business will allow Sika to participate in these growing and attractive market fields.

Financial Parameters

Annual synergies are expected to be in the range of CHF 80-100 million. Purchase price represents a 11.3x EV / pro forma EBITDA 19E multiple which will come down to less than 8.5x EV/EBITDA, including full run-rate synergies. The acquisition is value enhancing to Sika shareholders and is expected to be accretive to Sika’s earnings per share from the first full year post closing. The financing of the transaction is secured by a bridge loan facility committed by UBS and Citi. Sika remains committed to maintaining a strong investment grade credit rating and intends to put in place a long-term funding structure comprising a combination of cash-on-hand, bank loans, and capital market instruments.

The acquisition is implemented in various steps. The parties have signed an exclusive binding offer. The completion of the transaction is subject to French works council consultation process and regulatory approvals and is expected in Q2/Q3 2019.

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Fresks acquires XL-BYGG Vetlanda

Litorina

Fresks continues to expand through the acquisition of XL-Bygg Vetlanda, a builder’s merchant located in Vetlanda in Jönköping county. The current owners, Johan and Catrine Aronsson, will reinvest part of the proceeds from the transaction and become shareholders in Fresks Group.

XL-BYGG Vetlanda (Vetlanda Trävaru AB) was foundedin 1972, at the time operating a plaining mill, and today the business is a focused full-service builder’s merchant with a turnover of approximately SEK 70million.

After the acquisition Fresks Group will have a total of 33 stores with pro forma revenues of approximately SEK 2.2 billion and 530 employees.

The transaction will complete on 15 January 2019.

For further information, please contact:
Leif Lindholm, +46 70 698 27 00, CEO Fresks Group

Fresks, founded in 1862 is a leading Swedish builder’s merchant group. The company has 33 stores under various local brands whereof the majority is branded XL-BYGG. Fresks sells high quality building material with high degree of service primarily to small and mid-sized professional customers. For more information, please visit www.fresks.se

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Ramudden acquires ViaSafe Sweden

Triton

Stockholm (Sweden), December 17 2018 – Ramudden AB (Ramudden), a Triton IV company, has acquired ViaSafe Sweden AB (ViaSafe) from construction company NCC AB (NCC).

ViaSafe manages road safety solutions in nine Swedish cities and has an annual turnover of approximately 100 million SEK with 60 employees. Further to the acquisition, Ramudden also signs a framework agreement to provide services to NCC.

Ramudden is a leading specialist provider of work zone safety control services for road, construction and general industry purposes active in Sweden, Norway, Finland and Estonia. In Sweden, Ramudden offers products and services to ensure road, construction site and industrial safety with offices in 55 locations across the country.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

 

Press Contact:

Triton
Fredrik Hazén
Phone:  +46 709 483 810

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Verdane portfolio company Bellman Group AB acquires Samgräv Holding AB

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Verdane Capital

Bellman Group AB (publ) (the ‘’Company’’ or ‘’Bellman Group’’) has entered into an agreement regarding acquisition of the machine contracting company Samgräv Holding AB (‘’Samgräv’’).

On 13 December 2018, Bellman Group entered into an agreement with the owner of Samgräv regarding acquisition of all shares in the company and indirectly its subsidiaries. The initial purchase price for the acquisition amounts to SEK 144.0 million and will consist of a cash payment in the amount of SEK 100.0 million and newly issued shares in Bellman Group valued at SEK 44.0 million, after the new issue resulting in an ownership for Samgräv’s owner in Bellman Group of approximately 6.8 %. In addition, an additional purchase price may be payable, depending on the development of Samgräv’s EBITDA during the period and each of the years 2019 through 2022. Payment of any additional purchase price (if any) for each respective year is expected to be made during the second or third quarter of the following year. The total aggregated additional purchase price may amount to a maximum of SEK 96.5 million.

Samgräv is a company focused on contracting and leasing of construction machinery, trucks, crane trucks, tractors, rollers, machine operators and constructors. Samgräv is a strong player in the market of western Sweden by having its own inert landfills, recycling facilities and rock quarries, as well as transport and machinery contracting. The combination of own facilities as well as transport and machinery contracting entails an important competitive advantage in order to create cost effective and environmentally friendly transports for customers. For the financial year 2017/18, Samgräv’s sales amounted to SEK 221 million and the adjusted EBITDA for the same period amounted to SEK 31 million. The group’s sales for the financial year 2017, calculated pro forma including Samgräv’s sales for the financial year 2017/18, amounted to SEK 1,606 million and EBITDA for the same period, calculated pro forma including Samgräv, amounted to SEK 188 million.1

Through the acquisition, Bellman Group strengthens its position within inert landfills and broadens its operations to western Sweden. This will significantly positively affect the possibility for other companies within Bellman Group to increase (numerically and in size) their businesses in the Gothenburg area.

“It is very fun and exciting that Samgräv now becomes a part of Bellman Group. Through the acquisition of Samgräv, Bellman Group obtains a strong position also in western Sweden. This acquisition is very much in line with Bellman Group’s business and strategic plan; to develop its operations in Gothenburg as well as within inert landfills and recycling facilities. We see good opportunities to continue to create value in the new group, as all subsidiaries report a strong profit development”, says Håkan Lind, CEO of Bellman Group.

The intention is that Samgräv will continue to operate as a separate business following the acquisition.

“Samgräv has had a short-term plan to take a strong position in Västra Götaland and a long-term plan to expand in Stockholm and Malmö. We have had an ambition to enter into a broader context that gives us ability to act and new collaborations. During the process, we have always cared for our customers, suppliers and staff and kept them in mind in order to make Samgräv the number one choice in the contracting branch. In the Bellman Group, we have found common values and thoughts about the future. I am very pleased that this is now becoming reality and I really look forward to jointly create a strong group within the Bellman Group”, says Roger Hansson, owner of Samgräv.

Bellman Group intends to finance the acquisition primarily by issuance of new bonds under the Company’s existing bond loan. The Company will provide further information in relation to this by way of a separate press release if/when such issuance of new bonds has taken place.

The acquisition is conditional upon that Bellman Group obtains required financing and that the Swedish Competition Authority approves the transaction. Closing of the transaction is expected to take place during the first quarter of 2019.

For additional information, please contact:
Håkan Lind, CEO, Bellman Group, +46 (0) 70 669 80 28, hakan@bellmans.se

Roger Axelsson, CFO and Head of Communications, Bellman Group, +46 (0) 70 874 50 41, roger@bellmans.se

Roger Hansson, CEO, Samgräv, +46 (0) 70 677 65 53, roger@samgrav.se

About this information: 
This information is information that Bellman Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the Company’s CEO, at 12.00 CET on 13 December 2018.

About Bellman Group 
Bellman Group AB is comprised of Bellmans Åkeri & Entreprenad AB and Grundab Entreprenader i Stockholm AB, who are haulage contractors, as well as of Modern Sprängteknik i Norden AB with the subsidiaries Uppländska Bergkrossnings AB, Uppländska Bergborrnings AB and Sprängarbeten i Trönödal AB, who undertake blasting operations, and VSM Entreprenad AB with its subsidiaries VSM AS, Munthers Specialtransporter AB and VSM Rental AB, which are machine contracting companies. The group’s sales for the financial year 2017, calculated pro forma including VSM, amounted to SEK 1,385 million and the adjusted EBITDA for the same period, calculated pro forma including VSM, amounted to SEK 157 million. The group has approximately 360 employees and 500 subcontractors.

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ONCAP Completes Sale of Tecta America

Onex

Toronto, November 21, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced that ONCAP has completed the sale of Tecta America Corporation, a national leader in commercial roofing services in the U.S. The terms of the transaction were not disclosed.

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 medium-sized businesses that are leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

About ONEX
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock 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.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711

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AUCTUS has acquired a share in the Berlin-based Contus Group

Auctus

Munich, November 13

In course of a succession settlement , AUCTUS has acquired a share in the Berlin-based Contus Group. The Contus Group – Berlin Brandenburg is an active player in the construction industry as a full-service provider for installation, maintenance and repair of electric, heating and sanitary facilities, especially in residential properties (but also other types of real estate).

The company has been family-owned since shortly after its foundation in 1991. With this transaction, AUCTUS enabled a smooth generation change by acquiring the father’s shares, while the son stays shareholder and CEO of the company. Being based in Berlin, the Contus Group – Berlin Brandenburg is ideally located to serve the most dynamic markets for renovation and new-building construction in Germany, since there is an urgent housing shortage and a high share of very old residential real estate in the region. The Contus Group- Berlin Brandenburg is one of the few companies in Berlin capable of offering the so-called “Strangsanierung”: Fast-paced renovation processes allow residents to leave their unrenovated home in the morning and come back to their fully renovated home in the evening of the same day! This is a great USP, since tenant satisfaction (and, therefore, no bad publicity or damage claims) is of utmost importance to housing companies.

Moreover, in 2010, the Contus Group – Berlin Brandenburg has won the “Grand Prix of the ‘Mittelstand’”, a renowned award that confirms the success of Contus Group’s business model.

Currently, the company generates a total output of EURm 25 and shall expand Germany-wide via add-on acquisitions.

AUCTUS is with 14 investment professionals and more than 160 investments in the last 17 years the leading Private Equity firm in the German-speaking SME sector. We particularly focus on a sector-specific ‘Buy-and-Build’ strategies in which up to 30 national and international companies are merged to form a market leader. Our portfolio companies grow on average by 10% per year in employees, revenues and income. Within the last years AUCTUS received dozens of awards for being the best German-speaking fund as well as for being the best Buy-and Build fund.

AUCTUS Capital Partners AG

T +49 (0) 89 15 90 700-0

Email: info@auctus.com

www.auctus.com

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Genstar Capital Announces Acquisition of 2-10 Home Buyers Warranty

Strong Platform Combined with Genstar’s Resources and Insurance Industry Expertise to Drive Meaningful Growth


San Francisco, November 1, 2018 — Genstar Capital, a leading private equity firm focused on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries, today announced the acquisition of 2-10 Home Buyers Warranty (2-10 HBW), a provider of home warranty products to homeowners and new home builders.

2-10 HBW offers two warranty products: Home Service Contracts and New Home Structural Warranties. The Home Service Contract (home warranty) covers the cost of repair or replacement on major home systems and appliances, sold to homeowners through a network of real estate partners at the point of transaction and a rapidly growing direct-to-consumer channel. The New Home Structural Warranty is an insurance-backed warranty and provides the homeowner 10 years of coverage for structural failures while transferring the home builder’s legal obligation to repair structural issues. With a national footprint, 2-10 HBW actively covers homes in 48 states across the United States, making the Company the #1 provider of new home structural warranties and #2 independent provider of home service contracts. 2-10 HBW headquarters are in Aurora, CO.

Ryan Clark, President and Managing Director at Genstar said, “2-10 HBW has built a great competitive position in its core markets and we are very excited to invest in growing this business whose products are highly valued in the marketplace by builders, consumers, real estate professionals and contractors. We are excited to enable the management team with growth capital to invest in new marketing channels and explore strategic acquisitions that will broaden the company’s distribution footprint.”

Scott Cromie, Chief Executive Officer of 2-10 HBW, said, “We look forward to our partnership with Genstar whose professionals have extensive experience in the insurance sector. Our strong industry platform combined with the full support and resources of our new partners will enable us to activate quickly a number of levers to help drive growth. We are unified in our strategy that will allow us to add real estate and builder partners, expand into new geographies with targeted acquisitions, and enter the direct-to-consumer market which represents a new and rapidly growing channel.”

About 2-10 Home Buyers Warranty

For over 38 years, 2-10 Home Buyers Warranty has been a market leader in helping people protect one of life’s biggest investments with new construction structural warranties and systems and appliances coverage for new and existing homes. Founded and based in Colorado, 2-10 Home Buyers Warranty has covered over 5.8 million homes and partners with thousands of the nation’s finest real estate professionals, home builders and service contractors to help home buyers, sellers and owners to mitigate risk, save money and have protection from the unexpected. For more information, visit www.2-10.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $10 billion of assets under management and targets investments focused on targeted segments of the financial services, software, industrial technology, and healthcare industries.

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