Ploeger Oxbo strengthens shareholder base through investment NPM Capital

NPM Capital

Ploeger Oxbo Group has attracted a new major shareholder. NPM Capital is the strong financial partner that the manufacturer of specialty agricultural equipment has been looking for to support its long-term growth strategy. This strategy is aimed at bolstering innovation and product development to further strengthen Ploeger Oxbo’s leading position in its worldwide niche markets. The transaction file has also been submitted to the required Competition Authorities.

Ploeger Oxbo’s roots go back to the 1950’s. The group was formed in 2011 in a merger between Netherlands-based Ploeger and US-based Oxbo. Over the past decades, the companies have expanded rapidly as a result of autonomous growth and acquisitions. From a strong position in harvesters for corn, beans and peas the product range has been expanded to equipment for crops like potatoes, berries, coffee, olives and grapes and to self-propelled windrow mergers, sprayers and fertilizer applicators. Ploeger Oxbo has a leading position in these niche markets and operates in forty countries on all continents. Over the past months both Ploeger Oxbo and NPM Capital have developed a shared vision on the strategic direction of the company.

“This company has a strong entrepreneurial spirit”, say Gary Stich and Niels Havermans, both Board members at Ploeger Oxbo. “The fact that the founders of the group in 2011, both private as well as three Dutch investment companies (Synergia Capital Partners, VDL Participatie and via Bolster Investment Partners), will participate in the future shows a great level of confidence in the markets we are in as well as the strategic direction of the company. Together we have decided to sell 40 percent of our holdings to a powerful financial partner who shares our values and focus on long-term development and can support add-on acquisitions.”

The participation in Ploeger Oxbo Group fits NPM Capital’s focus on the agri-tech sector, says Rutger Ruigrok, managing partner of the investment company. “Ploeger Oxbo creates innovative solutions for the agricultural sector that needs new technologies to be able to feed a fast-growing world population. It is a company with both great social value and strong growth potential – exactly what we are looking for.”

Ploeger Oxbo was advised by Nielen Schuman (financial) and DLA Piper (legal). NPM Capital was advised by Rabobank and Vondel Finance (financial) and Nauta Dutilh (legal).

Categories: News


Teamleader raises $22 million in Series-C funding round

Fortino Capital

Teamleader, known for its SaaS platform for CRM, project management and invoicing, announced today that it has closed a Series C funding round of $ 22 million (18,5M EUR). The company will use the new capital to sustain its international growth and accelerate its product roadmap. This growth will come from increasing the adoption of Teamleader among SMEs, its primary target clientele. An important growth driver will be the Marketplace of the software, which will be further expanded and localized to reach 1.000 integrations.

The Series C round was led by a new investor, London-based Keen Venture Partners. Existing investor Fortino Capital & Sage Capital, which led Teamleaders A and B Series, and new investor PMV also joined the round. Alexander Ribbink, General Partner of Keen Venture Partners: “Teamleader had been on our radar for a while now. Their track record up until now is impressive, and we admire the entire team’s drive. Keen VP will back up its financial support with human capital, providing expertise and access to our network wherever and whenever we can.”

Multiple international investors are a good sign, according to Teamleader CEO Jeroen De Wit: “The fact that we gathered this substantial amount from multiple international venture capitalists is a major vote of confidence for Teamleader as a company, and proof of the international traction this company has been gaining.”

“SMEs are no longer afraid of digitization”

Software scale-up Teamleader was founded 6 years ago. It has since completed Series A and B funding rounds. Across all rounds, a total of €14 million was invested into the software scale-up. Today, Teamleader serves nearly 10,000 customers in 6 countries, mostly small and medium-sized enterprises. They use Teamleader for CRM purposes and digitized project management and invoicing. In 2017, Teamleader users issued 1.4 million invoices for a total amount of almost € 2.5 billion. According to CEO De Wit, the capital raise will allow Teamleader to continue increasing the added value of its software for SMEs: “SMEs are no longer afraid of digitization, and are using more and more business software to their advantage. These tools need to work side by side as one, in integrated systems, for SMEs to get maximum value out of them. That’s why we continue to invest in our Marketplace, which offers integrations with many different tools that can work seamlessly together with Teamleader.”

1,000 apps in the Teamleader Marketplace

Teamleader’s growth is surfing on the rise of SMEs in Europe, over 23 million in Europe. They represent a continuously increasing share of the economy, as SMEs’ value added to the EU economy is expected to rise by 3.8 % in 2018. Generally, European SMEs are predicted to outperform large non-financial corporations. Teamleader is working hard to localize its platform, to meet the needs of their target customers in different geographic markets. This means, among other things, investing in a Marketplace where users can find their favorite cloud applications, that they can use in combination with Teamleader. The Teamleader Marketplace includes ‘local’ apps that are popular in specific European markets. Last May, Teamleader launched an ‘Integration Fund’ of 1M EUR for developers to integrate with the platform – to which already 80 developers applied and the marketing place has currently close to 200 integrations.

Accelerating the product roadmap

Teamleader’s product & engineering teams are expected to double in size by next year to accelerate the product roadmap. Teamleader will double down on multi-local approach, and will finetune the product for country-specific needs. Duco Sickinghe, Chairman of Teamleader and managing partner, Fortino Capital: “Fortino likes to invest in exceptional leadership teams that have the ambition to transform entire industries. With Teamleader, we saw the potential very early on, and we strongly believe in it. We look forward to see Teamleader continue its impressive growth trajectory – and ultimately, to see it transform the way European SMEs work.”

Categories: News


Agreement signed with Thomas Meyer for the sale of Eurazeo’s stake in Desigual


Paris, August 2, 2018 – Eurazeo announces today that it has signed an agreement with Thomas Meyer,
the founder and controlling shareholder of Desigual, the Spanish apparel retailer, to sell him its 10% stake
in the company.

Since its investment in 2014, Eurazeo has strongly supported the strategic transformation of Desigual
through the promotion of a new brand image, its digital channel, the expansion in Latin America, the
optimization of the distribution network as well as through a strengthening of the company’s governance.
After four years of mutual cooperation, the joint owners have decided that, given the market environment
and their respective timeframes and objectives, it is in their and Desigual‘s best interests that Thomas
Meyer become the company’s sole shareholder.
This sale will generate net proceeds of €141.9 million for Eurazeo and its investment partners, and €105.7
million for Eurazeo’s stake representing a return on its initial investment of 0.5x.
About Eurazeo
o With a diversified portfolio of over €16 billion in assets under management, including over €10 billion from
investment partners, Eurazeo is a leading global investment company with offices in Paris and Luxembourg,
New York, Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate and enhance the
transformation potential of the companies in which it invests. The firm covers most private equity segments
through its five investment divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo
Patrimoine and Eurazeo Brands – and through three Idinvest business divisions: Venture Capital, Private
Debt and Dedicated Portfolio & Funds. Its solid institutional and family shareholder base, robust financial
structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over
the long term. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global
markets, and a stable foothold for transformational growth to the companies it supports.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

Categories: News


DIF Infrastructure III sells Islip and Springhill solar plants


London, 2 August 2018 – DIF Infrastructure III is pleased to announce that it has signed and closed the sale of a 100% stake in the Islip and Springhill solar plants to Greencoat Solar Assets II Limited.

Islip and Springhill are two 5MW solar plants located in UK. Both plants have been operational since 2011 and were acquired by DIF in 2013. The projects were refinanced in June 2017.

Andrew Freeman, Head of Exits, said: “This is an attractive exit for DIF III and continues DIF’s successful strategy of proactively targeting to sell assets from its more mature funds taking advantage of strong demand for high quality core infrastructure projects.”

DIF were advised by Elgar Middleton (Finance) and Pinsent Masons (Legal).

Greencoat was advised by PWC (Tax), Eversheds Sutherland (Legal) and Evergy (Technical).

About DIF
IF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

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

For more information please contact:

Andrew Freeman
Managing Director, Head of Exits

Barend Bloemarts
Director, Investor Relations and Business Development

Categories: News


CVC Asia Fund IV announces investment in RKE

RKE is a leading toll road operator in China

CVC Capital Partners (“CVC”) is pleased to announce that CVC Asia Fund IV has entered into binding agreements to invest the USD equivalent of HKD 2,000,000,000 (subject to adjustment) of new capital for 25% in RKE International Holdings Limited (“RKE”). RKE is a subsidiary of RKI, a Hong Kong listed property development and infrastructure conglomerate.

RKE is a leading toll road operator in China with a portfolio of five expressways spanning 340km and strategically located in important economic corridors across four provinces.

William Zen, Chairman of RKE, said: “Today is an important milestone in the further development of RKE. CVC Capital Partners is a leading global private equity firm with an outstanding regional network and track record, and we are confident that this partnership will help us further our expansion opportunities in China and across South East Asia.”

Kevin Xu, Managing Director at CVC, added: “RKE is a leading toll road operator with a strong portfolio and good growth prospects. We have great admiration for the chairman William Zen and his vision to grow the company further. We are very excited about the opportunity to work with him to take RKE to the next level”.

Categories: News


Genstar Capital Announces Completion of Drilling Info Holdings, Inc. Acquisition

SAN FRANCISCO, August 2, 2018 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the software, industrial technology, healthcare, and financial services industries, today announced that it has completed the previously announced acquisition of Drilling Info Holdings, Inc.  Insight Venture Partners will retain a significant minority stake.

About Drillinginfo

Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo’s solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. Drillinginfo serves over 3,500 companies globally from its Austin, Texas, headquarters and has more than 675 employees. For more information visit

About Genstar Capital

Genstar Capital ( 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 software, industrial technology, healthcare, and financial services industries.



Contact: Chris Tofalli
Chris Tofalli Public Relations

Categories: News


Genstar Capital Announces the Acquisition of BBB Industries

Genstar to Partner with Management to Drive Growth and Expand New Product Technologies, Further Enhancing BBB Industries’ Leading Role as a Supplier in the Automotive Aftermarket

SAN FRANCISCO, August 2, 2018 – Genstar Capital, a leading private equity firm focused on investments in targeted segments of the industrial technology, healthcare, financial services, and software industries, today announced the acquisition of BBB Industries, LLC, an industry leader in the automotive aftermarket.

BBB supplies non-discretionary replacement parts in the North American automotive aftermarket, primarily focused on the do-it-for-me (“DIFM”) light vehicle aftermarket and serves vehicle owners, professional technicians and franchised dealers.  BBB Industries has a broad product offering, including starters, alternators, hydraulic steering, brake calipers, electric power assisted steering (“EPAS”) and turbochargers.  Its 30,000+ SKUs are sold through warehouse distributors, retail outlets, and OEM service organizations.  Founded in 1987, the company is based in Daphne, AL.

Rob Rutledge, Managing Director, said, “BBB is an industry leader in the automotive aftermarket with a strong reputation for quality and manufacturing expertise.  We believe we can partner with management to expand the product offerings for BBB’s customers through investments in new technologies, capacity expansions, and acquisitions in BBB’s current and adjacent markets.  Genstar’s ability to move quickly and to provide growth capital will help to further enhance BBB’s market presence and build on its strong relationships with new and existing customers.”

Duncan Gillis, CEO of BBB Industries, said, “Because our products are mission critical to the operation of a vehicle, our key focus is to provide customers with quality, availability, breadth of SKUs, and service.  With Genstar’s expertise and history of successfully building companies like ours, we look forward to transforming our company and taking BBB Industries to the next level while continuing to provide our customers with the highest quality products.  We very much look forward to this new partnership.”

Genstar was advised by UBS Investment Bank and Latham & Watkins LLP in connection with the transaction.

About BBB Industries

BBB Industries, LLC is an industry leader in the remanufacturing of starters, alternators, hydraulic and air disc brake calipers, both hydraulic and electronic power steering products and turbochargers for the OEM, personal and commercial vehicle aftermarket industries. BBB takes pride in producing the highest quality products in the industry with exacting standards that apply to customer service, the manufacturing process, product installation and to the performance on the vehicle. Automated test fixtures test every unit manufactured by BBB to meet or exceed OE specifications. Founded in 1987, BBB Industries, LLC is a private company headquartered in Daphne, Alabama. Please see for more information.

About Genstar Capital

Genstar Capital ( is a leading private equity firm that has been actively investing in high quality companies for more than 25 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 in assets under management and targets investments focused on targeted segments of the industrial technology, healthcare, financial services and software industries.



Genstar Capital
Chris Tofalli Public Relations
Chris Tofalli

BBB Industries, LLC
Gerard Yanuzzi
Vice President of Marketing, BBB Industries, LLC

Categories: News


Onex Completes Investment in PowerSchool –


Toronto, August 1, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has
completed an investment in PowerSchool Group LLC (“PowerSchool”), the leading education
technology platform for K-12 schools. Vista Equity Partners is an equal equity partner with
Onex. Onex’ investment was made by Onex Partners IV, its $5.7 billion fund.

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
$32 billion of assets under management, including $6.7 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 $49 billion, generate annual revenues of $31 billion and employ
approximately 207,000 people worldwide. Onex shares trade on the Toronto Stock Exchange
under the stock symbol ONEX. For more information on Onex, visit its website at Onex’ security filings can also be accessed at

This news release may contain forward-looking statements that are based on management’s
current expectations and are subject to known and unknown uncertainties and risks, which could
cause actual results to differ materially from those contemplated or implied by such
forward-looking statements. Onex is under no obligation to update any forward-looking
statements contained herein should material facts change due to new information, future events
or otherwise.

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

Cinven enters exclusive discussions to acquire AXA Life Europe


The transaction creates Irish and cross-border consolidation platform

International private equity firm, Cinven, today announces that the Sixth Cinven Fund has entered into exclusive discussions to acquire AXA Life Europe (‘ALE’), a leading European life insurance company, for a consideration of €925 million.

ALE primarily manages guaranteed, unit-linked life insurance products (known as ‘Variable Annuities’) for its customer base across Germany, the UK, France, Spain, Italy and Portugal. ALE manages c.248,000 policies, c.€8 billion of assets and has c.€5 billion of reserves of which c.70% is related to German policies. It has been closed to new business since 2017. Furthermore, ALE is a reinsurer of AXA’s Japanese variable annuity portfolio.

ALE is headquartered in Dublin (Ireland), one of the largest cross-border life assurance centres in Europe and is regulated by the Central Bank of Ireland.

Building on Cinven’s expertise in the European life insurance sector, Cinven’s Financial Services team believes that ALE represents an attractive investment opportunity with significant value creation potential due to:

  • A fragmented market: the European Variable Annuity and life insurance market remains fragmented and represents a compelling consolidation opportunity for ALE, particularly in Ireland and the Isle of Man. Cinven’s strategy for ALE builds on the strategies being executed by its Financial Services team in Germany, through its investment in Viridium, and in Italy, through its investment in Eurovita;
  • M&A opportunities: a number of European insurers are planning to dispose of their existing guaranteed back-book portfolios which have become strategically non-core to them, creating an attractive M&A pipeline in the Irish life insurance market as well as the opportunity for ALE to become a consolidator of Variable Annuity back-book portfolios in Europe;
  • The scope for operational improvements: as a non-core disposal from the AXA Group, given the primary nature of the transaction, there is also scope to optimise ALE’s operations;
  • Asset management optimisation: ALE’s asset management and hedging strategies will be further optimised while maintaining strong Solvency II ratios following the carve-out; and
  • Industry-leading management team: Cinven will be partnering with the incumbent, industry-leading management team led by CEO, Eoin Lynam.

Furthermore, customers will benefit from enhanced risk management and underlying asset quality.

This transaction represents the 12th investment by the Sixth Cinven Fund and follows the Sixth Cinven Fund’s agreement to acquire Viridium Group and to provide it with equity funding to acquire Generali Leben, creating a leading German life insurance business with c.5 million policies and c.€55 billion of assets under management.

Caspar Berendsen, Partner at Cinven, commented:

“Over time we have managed to build a strong relationship with ALE and its management team and believe the opportunity for ALE is compelling. Cinven’s acquisition of ALE is a ‘repeat play’ of the consolidation platforms we have created though Guardian Financial Services in the UK, Eurovita in Italy, and Viridium in Germany. Cinven’s investment strategy in this case focuses on the consolidation of closed life funds with Variable Annuity offerings, primarily across Ireland and the Isle of Man. We have ambitious plans for this business and look forward to working alongside Eoin and his team to create value over the coming years.”

Andrea Bertolini, Principal at Cinven, added:

“Cinven continues to make investments in the closed life fund segment, bringing operational and financial excellence to this niche area. Cinven has fast become the leading private equity investor in this segment through investments in the UK, Germany and Italy. We will work in close partnership with the excellent management team to ensure no service interruptions for policy holders and in addition, identify value-accretive potential acquisition targets, creating benefits for all stakeholders of the businesses.”

Eoin Lynam, CEO of ALE, said:

“We have followed Cinven’s investments across various geographies in the European life insurance markets and it’s clear that they have a fantastic grasp of the opportunities available to ALE. We are closely aligned in terms of the future strategy for the business and share a collective vision of the value creation plan, alongside ensuring that all stakeholders benefit from retaining a robust financial base and further enhanced asset and risk management strategies.”

Completion of this transaction is subject to customary conditions, including completion by AXA of the informing of and consultation with the relevant works councils, as well as regulatory approvals by the Central Bank of Ireland and customary anti-trust approvals. The transaction is expected to be completed by the end of 2018 or early 2019.

Advisors to the transaction included: JP Morgan, financial advice; Milliman, actuarial and hedging; Deloitte, finance, operational and information technology due diligence; Deloitte, tax; Clifford Chance, legal (transaction and other); A&L Goodbody, legal (regulatory); Marsh, insurance.

Categories: News


The Carlyle Group completes acquisition of Tessara

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The Carlyle Group completes acquisition of Tessara, a South African manufacturer of fresh produce preservation solutions

Cape Town, South Africa, 1 August 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has completed the acquisition of a majority stake in Tessara, a manufacturer of preservation technologies for use in the marketing and export of fresh produce.

The transaction closed on 31 July 2018 and funding for this investment came from Carlyle Sub-Saharan Africa Fund. Financial terms are not disclosed.

Founded in 1985, Tessara is a well-established business with a strong brand and a growing global market position in Sulfur Dioxide (SO2)-based sheets for use in the preservation of fresh produce. Its flagship product is Uvasys, a SO2-based sheet, primarily used to protect table grapes against Botrytis infection, which is responsible for almost 50% of all post-harvest agricultural loss. Uvasys also enhances transportation, export and storage of grapes. Tessara has rapidly grown its business both in South Africa and internationally with exports now representing more than 65% of annual sales.

Tessara employs more than 150 people and has manufacturing facilities in Cape Town, South Africa. The company operates through a network of 15 distributors and it has built strong relationships with both suppliers and customers.

Bruce Steen, Principal in Carlyle’s Sub-Saharan Africa Fund, said: “Tessara is a great business with exciting growth prospects. Led by an experienced, talented management team, Tessara has built an impressive reputation for its core product whilst investing in R&D and the opportunity that exists to expand the product pipeline and broaden the application of SO2 sheets. We look forward to partnering with Tessara at this exciting time, supporting their continued growth and innovation and fueling expansion into new products and markets, especially China and USA.”

Craig Cloete, CEO of Tessara, said: “We are delighted to partner with Carlyle as we embark on a new chapter of development. We believe Carlyle’s global network, scale and experience, supporting international growth, will help us boost our sales and expand into new markets.”

Carlyle was advised on the transaction by Webber Wentzel and Ernst & Young.


About Tessara

Tessara is the global market leader in the supply of laminated SO2 generator sheets to protect table grapes from post-harvest decay and prevent Botrytis infection during transportation and storage.

The company was founded in South Africa in 1985 and today it employs over 150 people.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.



About Carlyle Sub-Sahara Africa Fund (SSA)

Established in 2012 the Carlyle Sub-Saharan Africa Fund and its affiliates, with $698 million of committed capital, have invested over $450 million to date across a variety of industries, including energy, financial services, TMT, retail, logistics and mining services, and across a variety of geographies, including South Africa, Gabon, Nigeria, Mozambique, Zambia, Tanzania, and the Democratic Republic of the Congo. The SSA fund makes buyout and growth capital investments in private and public companies from offices in Johannesburg, South Africa and Lagos, Nigeria.

Media Contact:

Katarina Sallerfors
+44 (0)20 7894 3554

Categories: News