Monthly Archives: April 2018

Questel’s management selects IK Investment Partners for exclusive negotiations

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund has entered into exclusive negotiations to acquire a stake in Questel, a global leading provider of Intellectual Property (IP) information and management software and services, from its current shareholders, including Capzanine, Raise, Questel’s founders and management team. IK plans, together with the founders, management team and Raise, to support the international expansion and external growth strategy of the group. Financial terms of the transaction are not disclosed.

Parties involved

IK Investment Partners: Dan Soudry, Rémi Buttiaux, Vincent Elriz, Déborah Collignon
Buyer Strategic DD: ATK (Jérôme Souied, Julien Vincent)
Buyer Financial DD: Ernst & Young (Daniel Benquis, Eric Roussel)
Buyer Legal advisor: Willkie Farr & Gallagher LLP (Eduardo Fernandez, Grégory de Saxcé, Paul Lombard)

Raise Investissement: Mathieu Blanc, Vincent Sauzay
Capzanine: Christophe Karvelis, Thomas Lafougère
CEO: Charles Besson
Seller Financial advisor: DC Advisory (David Benin, Alexis Matheron)
Seller Financial DD: Eight Advisory (Justin Welstead)
Seller Legal advisor: Mayer Brown (Olivier Aubouin, Marine Ollive)
Seller Tax advisor: Arsene Taxand
Seller Legal DD: K&L Gates
Management advisors: Oloryn Partners (Roland de Farcy) and Desfilis (Guillaume Giuliani)

For further questions, please contact:

IK Investment Partners
Dan Soudry, Partner
Phone: +33 1 44 43 06 60

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About Questel
Questel, a former division of France Telecom, offers IP Business Intelligence software allowing advanced research and analysis of patents, trademarks and designs, IP Asset Management platform as well as international filing administrative services. The Group employs nearly 215 people with offices in Europe, America and Asia and generated a turnover of approximately 45 million euros in 2017.

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Raise Investissement
Founded in 2013 by Clara Gaymard and Gonzague de Blignières, Raise is divided into four complementary activities:

  • RAISE Investment, a capital investment company that targets mid-cap companies with high growth potential and that takes minority stakes through investments ranging between 10 and 50 million euros
  • REIM, an OPCI licensed by the AMF that devotes to real estate
  • RAISE Ventures, an investment company that targets innovative early startups
  • The Endowment Fund RAISESHERPAS, a philanthropic structure that supports, finances and improves the visibility of young growth entrepreneurs in order to help them build sustainable companies.

Raise is based on a unique funding system, with the investment team giving up 50% of its carried interest in order to finance RAISESHERPAS. This innovative system in France creates a virtuous ecosystem between shareholding major groups, mid-caps and startups. For more information, visit www.raise.com

About Capzanine
Founded in 2004, Capzanine is a European independent private investment management fund. Capzanine supports businesses in their quest for growth, providing financial and industrial expertise to help them achieve success in their development and transfer phases. Capzanine delivers flexible long-term financing solutions to SMEs and mid-cap companies. Depending on the circumstances, Capzanine invests as a majority or minority shareholder and/or as a private debt provider (mezzanine, unitranche, senior debt), in unlisted small and mid-cap companies with an enterprise value of 30 million to 400 million euros. Although broad-based, Capzanine more particularly supports strong value-creating companies in the healthcare, technology, food and services sectors. Based in Paris and run by its partners, Capzanine currently has €2.5 billion in assets under management. For more information, visit http://capzanine.com 

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Aibel is awarded a new contract for the Johan Sverdrup field

Ratos

This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07.15 CET on 5 April 2018.

Today Statoil has awarded Aibel a letter of intent for engineering, procurement and construction of the deck for a process platform on the Johan Sverdrup field. The final contract is expected to be signed later this year and has an estimated value of approximately NOK 8 billion.

The contract, which will be the largest in Aibel’s history and one of the largest individual contracts that has been awarded on the Norwegian continental shelf, includes engineering, procurement and fabrication (EPC) of a process platform (P2) in phase 2 of the Johan Sverdrup development. The platform will consist of three modules, from which two will be built at Aibel’s yard in Haugesund and the third module will be built at Aibel’s yard in Thailand. Work will start immediately while construction activities will commence in 2019. The finished platform deck at around 23,000 tons is scheduled for delivery to Statoil in 2022. The project will at its peak involve around 3,500 employees.

“It is very pleasing that Aibel has been awarded this major and important contract, which is proof of the company’s competence and competitiveness as well as the experience gained from the delivery of the Johan Sverdrup drilling platform”, says Ratos’s CEO Jonas Wiström.

Aibel is a leading service company for the oil and gas industry. The company is also established in renewable energy. Aibel has approximately 4,000 employees. Ratos’s holding in Aibel amounts to 32%.


For further information, please contact:
Jonas Wiström, CEO, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98

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GSO Capital Partners’ Third Capital Solutions Fund Closes on $7 Billion in LP Commitments

Blackstone

New York, April 5, 2018 – GSO Capital Partners, Blackstone’s (NYSE: BX) credit platform, today announced the final closing of its third stressed / distressed fund, GSO Capital Solutions Fund III (“the Fund”), at its hard cap of $7.0 billion, an increase of approximately 40% from GSO’s second capital solutions fund raised in 2013. GSO received strong support from both existing and new investors, with demand surpassing the Fund’s $7.0 billion hard cap. GSO sourced commitments from a global investor base, including U.S. state, corporate and international pension funds, financial institutions, endowments, foundations and family offices.

This is GSO’s third fund designed to provide capital solutions to companies facing liquidity issues, including pending debt maturities, liquidity shortfalls and temporary cyclical challenges, needing capital to avoid imminent bankruptcy, or needing assistance in their exit from bankruptcy. GSO has deployed over $8.7 billion in the strategy to date across a broad range of sectors and geographies, with a focus on the U.S. and Europe.

Bennett Goodman, Senior Managing Director and Co-Founder of GSO Capital Partners, said, “We are delighted by and appreciative of the significant demand for our third fund from limited partners. This Fund provides us with the capital necessary to continue our strategy of being a partner of choice to those companies seeking capital to solve their balance sheet and liquidity needs, enabling them to focus on their business and growth objectives.”

About GSO Capital Partners
GSO Capital Partners LP is the global credit investment platform of Blackstone. GSO is one of the largest alternative managers in the world focused on the leveraged-finance, or non-investment grade related, marketplace. GSO seeks to generate attractive risk-adjusted returns in its business by investing in a broad array of strategies including mezzanine debt, distressed investing, leveraged loans and other special-situation strategies. Its funds are major providers of credit for small and middle-market companies and they also advance rescue financing to help distressed companies. Overall, Blackstone’s credit platform, which also includes Blackstone Insurance Solutions and Harvest Fund Advisors LLC’s energy MLP business, has assets under management of approximately $138 billion.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $430 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contacts
Blackstone
Public Affairs
New York
212-583-5263

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EQT Mid Market Europe to invest in BBS Automation

eqt
EQT Mid Market Europe partners with the co-founders of BBS Automation, a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes with operations across Europe, Asia and North America · Intention is to support the continued growth of BBS Automation, both organically and through add-on acquisitions, to better serve customers along increasingly international and connected operations · BBS Automation’s co-founders, Josef Wildgruber and Uwe Behr, will continue to lead the executive team and all current shareholders will remain invested in the company

The EQT Mid Market Europe Fund (“EQT Mid Market”) today announced that it is partnering with co-founders Josef Wildgruber and Uwe Behr to invest in BBS Automation GmbH (“BBS Automation” or “the Company”) to support the further expansion of the business.

BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. The Company develops, builds and installs high-quality automated systems for a wide range of industries and requirements. With more than 600 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.

EQT Mid Market intends to leverage its long-term experience in the Industrial Technology space to assist BBS Automation’s growth ambitions both organically and through add-on acquisitions in new end markets. Furthermore, EQT’s global network, in particular the presence in China and the Americas, will support the Company in further expanding its geographical foot-print to reach blue chip customers on a global scale.

Josef Wildgruber, CEO of BBS Automation, comments: “Our customers increasingly request us to partner with them on a global scale. We are therefore looking to expand our international delivery capabilities without compromising on the entrepreneurial mindset and flexibility that customers value in BBS Automation today. We view EQT Mid Market as a very strong partner for these growth ambitions, as they not only provide the required capital for our expansion, but also a network of highly relevant Industrial Advisers as valuable sparring partners for building the presence in our growth markets as well as a governance concept that allows us to further build on our strengths“

Andreas Fischer, Partner at EQT Partners and Investment Advisor to EQT Mid Market, adds ”EQT Mid Market is seeking to partner with inspiring founders and strong management teams who have a clear vision for their business. We are deeply impressed by the entrepreneurial spirit with which Josef Wildgruber, Uwe Behr and their team have built a true German Mittelstands-Champion over the last years. Very rarely do we find businesses of this size that operate as a truly global platform like BBS Automation. EQT Mid Market is delighted to partner with the co-founders of BBS Automation and their team to further develop this key enabler of Industry 4.0 production systems“

The transaction is subject to customary regulatory approval. The parties have agreed not to disclose financial details of the transaction.

Contacts

Andreas Fischer, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe, +49 89 255 49 954

EQT Press Contact, +46 8 506 55 334

About EQT

EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com


About BBS Automation

BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. With more than 600 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.

More info: www.bbsautomation.com

 

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Kaiku Health raises €4.4 million series A financing to accelerate its digital therapeutics pipeline led by Debiopharm and Tesi

Tesi

Finnish digital health company Kaiku Health Oy, which provides intelligent patient monitoring software for healthcare providers across Europe, has closed a €4.4 million funding round. The investment was led by Debiopharm Innovation Fund SA and Tesi with participation from Prodeko Ventures Oy and existing investors Reaktor Ventures Oy, Metsola Ventures Oy, and Athensmed Oy.

Kaiku Health offers intelligent patient monitoring software for healthcare providers. Structured capture and analysis of patient-reported data enables clinicians to evaluate the effectiveness of therapies and to detect and treat health problems early. Kaiku Health platform is used in routine care by over 30 clinics in Switzerland, Germany, Italy, Sweden, and Finland, and has been used by 64,000 patients (March 2018).

“We have seen the significant positive impact our patient monitoring platform can have on people’s health”, comments Lauri Sippola, Kaiku Health CEO and Co-Founder. “This funding allows us to provide our platform to a growing number of healthcare providers and patients internationally. It is important that our investors also bring an extraordinary understanding of healthcare, life sciences and digitalization.”

“We are excited about the impact digital technologies will have on the patient journey and are particularly enthusiastic to help take the digital therapeutic approach in oncology out of the lab and onto the market where the benefits of this high frequency monitoring can be expected to bring real outcomes improvement”, says Tanja Dowe, CEO at Debiopharm Innovation Fund.

“We have studied the Finnish digital health sector thoroughly and found it extremely interesting from an investor’s point of view”, adds Joni Karsikas, Investment Manager at Tesi. “The Kaiku Health team impressed us with its strong technological know-how, for instance in the use of artificial intelligence. Kaiku Health has strong international customer references and a broad user-base for a young health-tech company.”

Digital patient monitoring can improve quality of life and reduce costs of healthcare

Recent research1 has shown that collecting patients’ subjective experiences and turning them into structured data can have significant impact on care outcomes. Kaiku Health’s intelligent digital platform can be applied for monitoring patient-reported outcomes in several medical specialties. Its unique algorithms screen patient’s symptom data, alert care team and trigger personalized instructions for patients. Structured real-world data on the efficacy of therapies allows early interventions and personalized care.

For further information, please contact:

Kaiku Health
Lauri Sippola, CEO & Co-Founder
lauri.sippola@kaikuhealth.com
Tel: +358 40 744 7481

Tesi
Joni Karsikas, Investment Manager
joni.karsikas@tesi.fi
Tel: +358 40 827 0395

Debiopharm Group
Christelle von Büren
Communication Coordinator
christelle.vonburen@debiopharm.com
Tel: +41 (0)21 321 01 11

Pictures: media.kaikuhealth.com

1 References
Basch E, Allison MD, Mark GK, Howard IS, Clifford AH, Paul S, (2015). Symptom Monitoring With Patient- Reported Outcomes During Routine Cancer Treatment: A Randomized Controlled Trial, J Clin Oncol 2016: 34(6), 557–565.
Basch E, Deal AM, Dueck AC, Scher HI, Kris MG, Hudis C, Schrag D. Overall Survival Results of a Trial Assessing Patient-Reported Outcomes for Symptom Monitoring During Routine Cancer Treatment. JAMA. 2017 Jul 11; 318(2): 197-198.

About Kaiku Health
Kaiku Health (previously Netmedi Oy) is a digital health company aiming to improve quality of life and reduce costs of healthcare through data science. We are digitizing the patient monitoring and easing the adoption of Patient-Reported Outcomes in several therapy areas. Our pioneering patient monitoring platform is used in routine care by over 30 clinics in Europe.
Founded in 2012, Kaiku Health has raised over 6 million euros in total funding. Kaiku Health’s revenue in 2017 was approximately €0,7 million. We are headquartered in Helsinki, but our people also harbor in Frankfurt and Stockholm. For more information, please visit www.kaikuhealth.com and connect with us at Twitter @KaikuHealth.

About Debiopharm Innovation Fund SA
Part of Debiopharm Group™ – a Swiss-headquartered global biopharmaceutical group including five companies active in the life science areas of drug development, GMP manufacturing of proprietary drugs, diagnostic tools and investment management – Debiopharm Innovation Fund’s mission is to invest in companies developing innovative therapeutics, diagnostics and smart data solutions that change the way we develop drugs and treat patients. Since 2008, the company has invested nearly USD 100 million and led 10 out of the 14 last investment rounds in its portfolio companies.
For more information, please visit www.debiopharm.com
We are on Twitter. Follow us @DebiopharmNews 

About Tesi
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi/ @TesiFII

 

 

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KKR to Invest $172 Million in Cherwell Software

KKR

Landmark Investment for Colorado Company in State’s Growing Tech Arena

COLORADO SPRINGS, Colo.–(BUSINESS WIRE)– Cherwell Software, LLC, (“Cherwell”) a global leader in enterprise service management, announced today that leading global investment firm KKR will take a larger stake in the company through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services. This latest investment of $172 million will be in addition to KKR’s initial $50 million investment made in Cherwell in February 2017.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180404005377/en/

Cherwell offers software that has enabled thousands of organizations to modernize their business operations by automating services digitally. After establishing itself as a leader in the IT Service Management (ITSM) space, Cherwell is poised to expand into the service management market, which is estimated to top $30 billion by 2020 (including ITSM, “Low code” and PPM, according to MarketsandMarkets). As organizations of all sizes seek to connect disparate digital services and data silos in order to gain more insight, efficiency and productivity, Cherwell’s platform unifies the tools that ensure their businesses are as efficient as possible. Companies, schools, hospitals, and government agencies all over the world depend on Cherwell’s solutions to manage their IT operations and, increasingly, achieve digital transformation across their organizations.

“Since founding this company in 2004, we have committed to serving customers with intuitive technology that helps not only drive business but transform organizations,” said Vance Brown, Cherwell Co-Founder and Chairman of the Board. “The demand for our platform has continued to expand globally and the leadership at KKR is aligned with the company’s vision for growth.”

“Cherwell is a leader in its industry known for its highly-adaptable, high-quality solutions, which enable customers to transform their service management capabilities. We are thrilled to further invest in the company, which we believe has enormous potential for growth,” said Vini Letteri, a Managing Director on KKR’s Private Equity and TMT Growth team.

Cherwell’s business is expanding rapidly across the globe. The company has experienced dramatic growth in new customers in the EMEA and APAC regions as well as in collaboration with leading industry partners through its Technical Alliance Partnership program. In addition, nearly 70% of Cherwell’s enterprise customers have expanded their use of service management beyond IT, deploying the platform to satisfy a number of needs such as HR, Project Management, Facilities, and Security. Cherwell has a growing and engaged customer base including a wide range of active user groups worldwide, which increased in number by 218% and in customer attendance by 250% in 2017.

“Cherwell has enabled us to do much more than we initially anticipated in terms of driving centralized intelligence and optimized service for our business. We have seen an increase in service application across our organization with more than 50% of service tickets coming in through Cherwell now outside of IT. The Cherwell platform was not only able to be customized for our particular needs in healthcare, but it can grow with our needs, which is vital as we look to drive innovation and continuous improvement,” said William J. Weyrick, Director, Information Systems Division, Dartmouth-Hitchcock.

“Cherwell Software’s evolution into a global technology company in a little more than 10 years is one of the state’s high-tech success stories,” Colorado Governor John Hickenlooper said. “The innovation and highly skilled jobs this company has produced demonstrates some of the best of what Colorado Springs and Colorado has to offer. I’m proud to see Cherwell continue to attract investment to Colorado and lay the groundwork for even more growth in the years ahead.”

About Cherwell

Cherwell Software (@Cherwell) empowers organizations to transform their business through the rapid adoption and easy management of digital services. Cherwell’s adaptable platform has enabled thousands of organizations to modernize their business operations with customizable service management, automation, and reporting across the enterprise. For more information, visit: http://www.cherwell.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Cherwell
Ann Boyd, 719-494-3572
ann.boyd@cherwell.com
or
KKR
Kristi Huller or Cara Kleiman Major, +1-212-750-8300
media@kkr.com

Source: KKR

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Patricia Industries’ acquisition of Sarnova completed

Investor

On March 12, Patricia Industries, a part of Investor AB, announced the acquisition of the leading U.S. healthcare product specialty distributor Sarnova Holdings, Inc. from Water Street Healthcare Partners and Sarnova founder Matthew D. Walter.

Following approval by the competition authorities, the acquisition has now been completed.

The acquisition price is USD 903 m. For the 12-month period ending in December 2017, sales amounted to USD 555 m. and the EBITDA margin was approximately 12 percent. Since 2012, annual organic sales growth has averaged 6 percent.

Patricia Industries has injected USD 513 m. in equity financing for 86 percent ownership of the company. The remainder of the enterprise value has been financed by external debt and equity participation by Water Street Healthcare Partners, Matthew D. Walter, and Sarnova’s management group and board of directors.

Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

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Patricia Industries’ acquisition of Sarnova completed

Investor

On March 12, Patricia Industries, a part of Investor AB, announced the acquisition of the leading U.S. healthcare product specialty distributor Sarnova Holdings, Inc. from Water Street Healthcare Partners and Sarnova founder Matthew D. Walter.

Following approval by the competition authorities, the acquisition has now been completed.

The acquisition price is USD 903 m. For the 12-month period ending in December 2017, sales amounted to USD 555 m. and the EBITDA margin was approximately 12 percent. Since 2012, annual organic sales growth has averaged 6 percent.

Patricia Industries has injected USD 513 m. in equity financing for 86 percent ownership of the company. The remainder of the enterprise value has been financed by external debt and equity participation by Water Street Healthcare Partners, Matthew D. Walter, and Sarnova’s management group and board of directors.

Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

 

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Infrastructure funds managed by MIRA and Goldman Sachs to acquire HES International from Riverstone and The Carlyle Group

Carlyle

Macquarie European Infrastructure Fund 5, which is managed by Macquarie Infrastructure and Real Assets (MIRA), and West Street Infrastructure Partners III (WSIP), which is managed by the Merchant Banking Division of Goldman Sachs, have reached an agreement in principle with Riverstone Holdings LLC (“Riverstone”) and The Carlyle Group (“Carlyle”) to acquire HES International B.V. (“HES” or “the Company”). Capital for the original investment by Riverstone and Carlyle came from two funds: (i) Riverstone/Carlyle Global Energy & Power Fund IV, L.P. and (ii) Carlyle International Energy Partners, L.P. (CIEP).

HES will now initiate consultations where appropriate with the relevant works councils. The financial terms of the transaction are not disclosed and should definitive transaction documentation be executed following the consultation process, completion will remain subject to legal and antitrust approvals.

HES is one of the largest diversified port terminals businesses in Europe and focuses on the storage and handling of liquid bulk products, such as crude oil, refined petroleum products and bio-fuels, and dry bulk products, primarily iron ore and coking coal, minerals and agri-bulk and thermal coal. The Company has strategic locations in Europe’s best accessible ports and benefits from highly attractive catchment areas, including key industrial areas in North West Europe, and from deep long-term relationships with blue-chip customers. The Company has built a unique platform of best-in-class liquid and dry bulk terminals operating across Europe, including EMO (Rotterdam) and OBA (Amsterdam), the two largest dry bulk import terminals in North West Europe. HES has also established the HES Botlek Tank Terminal (HBTT), the newest liquid bulk terminal in North West Europe, and enhanced the transition of HES Wilhelmshaven Tank Terminal (HWTT), the largest independent tank terminal in Germany, to a fully operational terminal.

Under Riverstone’s and Carlyle’s ownership, the HES management team has been successfully implementing an over €700 million transformation and growth strategy, including the recent Financial Investment Decision on the landmark Hartelstrip expansion project. This strategy makes HES one of the most significant tank terminal operators in North West Europe while further strengthening its position as a large diversified dry bulk terminal operator in Europe.

In tank storage, investments include increasing capacity of the HES Botlek Tank Terminal from 200,000 cbm to over 620,000 cbm by 2019 and the construction of the world class HES Hartel Tank terminal. In Wilhelmshaven, HES repurposed the former refinery into a commercial tank terminal and is currently preparing to restart part of the primary distillation processing capacity under a tolling agreement. These investments are all based on long-term contracts and together they are expected to triple operational liquid bulk capacity to 3.2 million cbm.

The transformation program also extends to dry bulk, where HES has consistently diversified into agri-bulk and minerals by expanding its capacity to 900,000 cbm of highly flexible covered storage and supporting HES’s strategy to become a major European operator in this segment.

MIRA and WSIP are experienced, long-term infrastructure investors with strong track records of supporting their portfolio companies’ investment plans and they are supportive of the management team’s vision for the Company.

Jan Vogel, Chief Executive Officer of HES International, said: “With the support of Riverstone and Carlyle we have become one of Europe’s most successful independent bulk handling companies providing products and services to our customers at 18 sites across 8 countries. Over the past 3.5 years, we have implemented a focused strategy that makes optimal use of our prime real estate in Europe’s key ports and allows us to adjust flexibly to future changes and opportunities that energy transition will bring to our sector. We have also built a strong pipeline of additional growth projects for both our liquid bulk and dry bulk businesses to support our strong position in each of our core businesses. We are confident MIRA and WSIP will be strong, long-term partners for our continued future growth and continued international expansion.”

Leigh Harrison, European Head of MIRA, said: “As long term investors we are excited about the growth opportunities HES offers in dry and liquid bulk as well as its strong management team, market position in North West Europe and its focused strategy. Together with our partner WSIP, we are looking forward to supporting management in expanding the business through new growth projects.”

Philippe Camu, Co-Head and Co-Chief Investment Officer of the Infrastructure Investment Group within the Merchant Banking Division of Goldman Sachs, said: “We are pleased to invest in HES alongside MIRA and are keen to support the Company in its next stage of development. The HES team has built an impressive business underpinned by strong customer relationships and strategic locations in Europe’s key ports. We look forward to drawing on our experience in the sector for the benefit of HES and its stakeholders.”

-Ends-

For further information:
HES International B.V.
Esther Erkelens, Manager Corporate Communications
e.erkelens@hesinternational.eu 
+31 (0)10 7900700

MIRA
Nicole Grove
Nicole.grove@macquarie.com
+447765452193

WSIP
Joseph Stein
Joseph.stein@gs.com
Tel: +44 (0) 20 7774 2523

Riverstone Holdings LLC
Kekst and Company
Jeffrey Taufield and Daniel Yunger
+1 (212) 521 4800

The Carlyle Group
Katarina Sallerfors
Katarina.sallerfors@carlyle.com
+44 (0)20 7894 1632

 

About HES International B.V.
HES International B.V., founded in 1908, is a private company, headquartered in Rotterdam (the Netherlands) and is one of the largest storage and port logistics companies in Europe. Storage and handling activities comprise dry and liquid bulk terminals in North West Europe. The company’s focus is on growing its present portfolio of high quality dry and liquid bulk terminals by means of expansion of its already owned sites, greenfield development and acquisitions of existing terminals. HES International B.V. is developing a tank terminal for the storage and transshipment of petroleum products and biofuels at the Hartelstrip, on the south side of the Mississippi harbour at Maasvlakte 1. The HES Hartel Tank Terminal is planned to be operational at the end of 2019.

For more information about HES International B.V. please visit www.hesinternational.eu

About Macquarie Infrastructure and Real Assets
More than 20 years ago Macquarie Infrastructure and Real Assets (MIRA) pioneered investment in a new asset class for institutional investors – infrastructure. Today we combine two decades of experience and expertise to identify and unlock investment opportunities in the assets that people use every day – extending beyond infrastructure to real estate, agriculture and energy. As at 30 September 2017, MIRA has assets under management of more than €94 billion invested in 137 portfolio businesses, ~300 properties and 4.5m hectares of farmland.

Globally, MIRA manages over 25 marine terminals located across Asia, Europe, and North America, ~15 of which handle dry or liquid bulk cargoes. Since 2005, MIRA has completed over USD4 billion of terminal investments in nine countries, including a range of brownfield and greenfield projects. In the bulk liquid storage sector MIRA owns and manages assets with a combined capacity exceeding 23 million cbm, placing Macquarie as the fourth largest independent owner globally. This includes Pisto in France, TanQuid in Germany and IMTT in the US / Canada.

MIRA is a division of Macquarie Asset Management, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management, banking, advisory and risk and capital solutions across debt, equity and commodities.

About West Street Infrastructure Partners
WSIP is an infrastructure investment fund managed by the Merchant Banking Division of Goldman Sachs. WSIP, together with its predecessor funds GS Infrastructure Partners I & II, are the principal investment vehicles managed by Goldman Sachs that make direct investments in infrastructure and infrastructure-related assets and companies. The primary focus of the funds is on investment opportunities in the energy, transportation and utilities sectors.

Goldman Sachs is a leading global investment banking, securities and investment management firm. Founded in 1869, the firm is headquartered in New York and maintains offices in other major financial centers around the world.

Goldman Sachs is one of the largest infrastructure fund managers globally, having raised over $13 billion of capital since the inception of the business in 2006.

About Riverstone Holdings LLC:
Riverstone is an energy and power-focused private investment firm founded in 2000 by David M. Leuschen and Pierre F. Lapeyre, Jr. with over $38 billion of capital raised. Riverstone manages private equity and debt investments in the exploration & production, midstream, oilfield services, power, and renewable sectors of the energy industry. With offices in New York, London, Houston, and Mexico City, Riverstone has committed over $37 billion to more than 150 investments in North America, Latin America, Europe, Africa, Asia, and Australia.

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The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $195 billion of assets under management across 317 investment vehicles as of December 31, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 31 offices across six continents.

About Carlyle International Energy Partners, L.P. (CIEP)
Established in May 2013, the CIEP team focuses on oil and gas exploration and production mid- & downstream, refining and marketing and oil field services in Europe, Africa, Latin America and Asia. CIEP is a $2.5 billion fund dedicated to oil and gas investing. The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to The Carlyle Group’s global network.

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Categories: News

Altor to acquire Trioplast

Altor

On March 29th, Altor Fund IV (“Altor”) signed an agreement to acquire the leading European manufacturer of sustainable and high-tech plastic film, Trioplast Industrier AB (“Trioplast”). Altor and key executives in the management team will own 100% of the shares.

Trioplast is a leader within recycling of used plastics and the use of renewable raw materials. Trioplast’s products are critical in the transportation of industrial products, farming and forestry products as well as for instance creating a hygienic work environment in a hospital operating theatre. Trioplast has a turnover of 4.3bn SEK and approximately 1 000 employees. The company’s main office is located in Smålandsstenar. Production is located in Sweden, Denmark and France and the products are sold all over the world.

Trioplast was founded in 1965 by Vilhelm Larsson in Smålandsstenar. Since 1984 the company is owned by Vilhelm’s son, Bo Larsson, who has developed the company into a leading player in Europe.

”We are proud to become owners of a Swedish industrial treasure like Trioplast, “says Bengt Maunsbach, Partner at Altor.” We are impressed with the company and the management team and we look forward to developing the company further. We believe that there is a lot of potential in the many high-tech product segments and we will keep investing in new technology to produce sustainable plastic,” Bengt Maunsbach continues.

”We are happy to have Altor as new majority owner,” says Andreas Malmberg, CEO of Trioplast. “Altor has a long-term perspective and we have a common view of how to develop Trioplast into an even stronger partner for its many customers,” Andreas Malmberg continues.

“We welcome Trioplast to the Altor portfolio. Altor has a long history of acquiring well-managed family owned companies and developing them, examples of this include Piab, Dustin and Byggmax. We believe that Trioplast has potential to develop in a very positive direction,” says Harald Mix, founder of Altor.

The transaction is subject to customary regulatory requirements and approvals.

For more information, please contact:
Andreas Malmberg, CEO of Trioplast, Tel: +46 70 208 72 91
Tor Krusell, Head of Communications at Altor, Tel: +46 70 543 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 5.8 billion in total commitments. The funds have invested in excess of EUR 3.8 billion in more than 40 companies. The investments have been made in medium sized Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Apotek Hjärtat, Carnegie Investment Bank, Dustin, Helly Hansen, Lindorff, Piab and SATS ELIXIA. For more information visit www.altor.com.

About Trioplast
Since over half a century Trioplast has built strong partnerships with customers to improve their safety, productivity and profitability. Based on the company core values: Reliable, Long-term, Active, employees of Trioplast bring innovative and sustainable plastic film products and solutions to a global market. For more information visit www.trioplast.com.

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