Monthly Archives: December 2018

EQT acquires Cast & Crew – a leading provider of software and services to the entertainment industry

eqt

  • EQT VIII acquires Cast & Crew, a leading provider of software and services to the entertainment industry, covering payroll & human resources, accounting & financial management and workflow & productivity
  • Cast & Crew’s solutions simplify and automate complex processes for companies and productions in the film, television, digital streaming, commercial and live events markets
  • EQT will support Cast & Crew’s impressive growth trajectory by leveraging its operational and financial resources, including deep sector expertise within TMT and Services and its global network of Industrial Advisors

The EQT VIII fund (“EQT” or “EQT VIII”) today announced that it has agreed to acquire Cast & Crew Entertainment Services (the “Company”), a leading technology provider of software and services to the entertainment production industry, from global technology investing leader Silver Lake.

Founded in 1976 and based in Burbank, California, Cast & Crew provides solutions that simplify and automate complex processes for companies and productions in the entertainment industry. Its software products and services assist in the areas of payroll & human resources, accounting & financial and workflow & productivity. The Company has a 40-year track record of supporting its customers’ creative pursuits. Cast & Crew’s software products and services have supported the production of some of the highest-grossing films and music tours of all time, Emmy award-winning television and digital streaming programs, commercials for many of the most well-known brands, Tony award-winning Broadway shows, major sports and live event venues and many of the most highly attended music festivals.

EQT will support Cast & Crew in its next phase of development as the Company focuses on accelerating product and service expansion in current and new verticals, while continuing to provide best-in-class service to its customers. Moreover, EQT will leverage its local European presence and extensive Industrial Advisor Network to accelerate the Company’s international expansion, initially focused in Europe.

Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII comments: “We have been very impressed with the Company’s performance and vision for continued transformation in the entertainment industry. We are delighted to have the opportunity to help shape the next phase of growth for Cast & Crew, together with an exceptionally talented group of people being led by CEO Eric Belcher and President John Berkley — supported by an outstanding executive management team. Cast & Crew will be able to leverage the entire EQT platform, including our deep sector expertise and network of Industrial Advisors, to capitalize on the growth opportunities in current and untapped market segments.”

Eric Belcher, CEO of Cast & Crew, continues: “We are all proud of what Cast & Crew has achieved in recent years under Silver Lake’s stewardship as our majority shareholder. We have built a very strong foundation for the future across software products, value-added services and a very strong employee base focused on customer service and success. We are delighted to partner with EQT and leverage its international presence and deep sector expertise within media, technology and services as we move through the next phase of our continued growth.”

Joe Osnoss and Lee Wittlinger, Managing Directors at Silver Lake, add: ”We thank Cast & Crew’s outstanding management team and employees for their partnership during a period characterized by impressive growth, accelerating technology innovation and expansion into new entertainment end markets. We hope and expect that the company will achieve continued success under EQT’s ownership.”

Morten Hummelmose, Chairman of EQT Partners Inc. and Head of EQT Equity U.S., concludes: “This is an important transaction for EQT’s large buyout business, as it represents our first transaction in the U.S. in the TMT and Services sectors. EQT has a long and successful track record of developing technology companies, and we are confident this will be a great partnership that will benefit Cast & Crew and all of its stakeholders.”

The transaction is subject to customary closing conditions.

Goldman Sachs & Co. LLC., Simpson Thacher & Bartlett LLP and Aon served as advisors to EQT VIII. Moelis & Company LLC and Morgan Stanley & Co. LLC served as lead financial advisors to Cast & Crew. Cast & Crew was also advised by J.P. Morgan. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor.

Contacts
Kasper Knokgaard, Partner at EQT Partners, Investment Advisor to EQT VIII, +1 917 603 4798
US inquiries:

Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

Michael Geczi, +1 818 525 3301, michael.geczi@castandcrew.com

Patricia Graue, +1 212 333 3810, silverlake@brunswickgroup.com

International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 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 Cast & Crew
Cast & Crew provides payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry. Cast & Crew’s services include payroll processing, residuals processing, workers’ compensation services, labor relations, and production incentives management and financing. Cast & Crew’s PSL production accounting software serves the needs of the film, television and digital media industries. The company was founded in 1976, and its corporate headquarters are in Burbank, California.

More info: www.castandcrew.com

About Silver Lake
Silver Lake is the global leader in technology investing, with about $45.5 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London, and Hong Kong. Silver Lake’s portfolio of investments collectively generates more than $225 billion of revenue annually and employs more than 390,000 people globally.

More info: www.silverlake.com

Categories: News

Tags:

Monaghan Mushrooms acquires 100% of Walkro, a leading producer of substrate for the mushroom industry

GIMV

Topic: Divestment

Irish company Monaghan Mushrooms has agreed to acquire all shares of Walkro held by Gimv and Walkro’s management.

Walkro (www.walkro.eu) was founded in Belgium in 1991 and has grown into one of the largest producers of substrate for the mushroom industry. Walkro produces 8,500 tons of substrate per week at its production facilities in Maasmechelen (Belgium), Blitterswijck (the Netherlands) and Wallhausen (Germany). With more than 235 employees, Walkro sources its own raw materials (mainly horse and poultry manure), produces best in class substrate and takes care of transport to mushroom growers all over the world.

At the end of 2011, Walkro was acquired by operating partner Monaghan Mushrooms, together with financial investor Gimv and Walkro’s management team. Since then, Walkro’s turnover has grown to just over EUR 75 million (2017), making Walkro one of the largest producers of mushroom substrate in the world. Today, co-shareholder Monaghan buys out both Gimv and management, becoming the group’s sole shareholder.

In the new structure, Walkro will remain focused on producing high-quality mushroom substrate for independent growers around the world. The Walkro management underlines its confidence in the new structure by acquiring shares on Monaghan level. The current statutory management of Walkro, consisting of Eric Houben (CEO) and Peter Fijneman (CFO), will be responsible for all European substrate activities within the Monaghan group in similar positions, which has a total size of 15,000 tons of mushroom substrate per week. Eric Houben will also become a board member of Monaghan Mushrooms.

Monaghan Mushrooms (www.monaghan-mushrooms.com) is one of the world’s largest substrate and mushroom companies. The company is a ‘spore to store’ vertically integrated agribusiness meaning that it produces substrate for the cultivation of mushrooms and grows, harvests and packs quality and fresh mushrooms before delivering its mushrooms directly to its customers, some of the largest international retailers. The company is owned by the Wilson family (Ireland). Monaghan employs more than 3,500 employees and is headquartered in County Monaghan, Ireland. The group further has operations in Canada, the United Kingdom, Belgium, Netherlands and Germany.

Over the entire holding period, the investment in Walkro generated a return above Gimv’s long-term average return. No further financial details will be disclosed.

Read the full press release:

English – French – Dutch – German
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

Categories: News

Tags:

EQT Mid-Market Credit II holds final close at EUR 2.3 billion – increasing EQT Credit’s presence in European direct lending

eqt

  • The EQT Mid-Market Credit II fund successfully closes at EUR 2.3 billion of available capital, including anticipated leverage – more than four times the size of its predecessor direct lending fund, EQT Mid-Market Credit
  •  Continuation of the diligence-led investment strategy succcessfully deployed by the EQT Credit platform since its inception in 2008
  •  Strong support from existing investors and new investors to both EQT and EQT Credit, resulting in a diversified blue-chip investor base of pension funds, insurance companies, family offices and foundations across Europe, North America and Asia

EQT today announces the final closing of its second European direct lending fund, EQT Mid-Market Credit II (the “Fund”). The Fund received commitments equivalent to EUR 2.3 billion of available capital, including anticipated leverage. Since launch in 2008, the EQT Credit platform has raised over EUR 6 billion and invested over EUR 5.1 billion in over 170 companies.

The Fund will continue EQT Credit’s strategy of providing financing solutions to European mid-market companies, with a focus on high-quality performing businesses with defensive characteristics. Over 30% of the Fund has already been committed in 12 investments, including recent financings for Medifox, Dukes Education and VPS.

Investors in EQT Mid-Market Credit II include a diverse group of European, Asian and North American pension funds, insurance companies, endowments, foundations and family offices.

Paul Johnson, Partner at EQT Partners, Investment Advisor to the Fund, comments: “We are confident that the significant opportunities in the market play to EQT Credit’s strengths as a due diligence-focused investor with the ability to leverage the knowledge that resides in EQT having invested in the same geographies and industries over the last 24 years. Thanks to the strong support demonstrated by existing and new investors, the Fund is well positioned to capitalize on these opportunities over the coming years as the direct lending market continues to grow across Europe.”

Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, continues: “Our focus on local sourcing and diligence, supported by EQT’s network of Industrial Advisors, as well as the capacity to invest in a broad range of situations, has been key to EQT Credit’s investment approach over the last ten years. The EQT Credit platform has developed significantly and we are looking into ways of transforming and broadening the offer even further.”

“The growth of the EQT Credit platform has been extremely successful and complements EQT’s offering across the entire spectrum of alternative investments. The Fund far exceeded its initial target, which further confirms investors’ appetite for this asset class as well as their support and trust for EQT and EQT Credit. With a strong ten-year track record in the market and an experienced investment advisory team led by Andrew Konopelski, EQT has firmly cemented its position as an integrated capital provider across the full range of risk profiles”, says Thomas von Koch, CEO and Managing Partner at EQT.

The fundraising for EQT Mid-Market Credit II has now closed. As such, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interest or to engage in any other transaction.

This press release is translated into multiple languages for information purposes only. In case of a discrepancy, the English version shall prevail.

Contacts
Andrew Konopelski, Partner and Head of EQT Credit at EQT Partners, +44 20 7430 5525
Paul Johnson, Partner at EQT Partners, +44 20 7430 5520
Jussi Saarinen, Partner and Head of Investor Relations at EQT Partners, +46 8 506 55 368
Carlota Sanchez-Marco, Managing Director, Investor Relations at EQT Partners, +34 674 345 701
EQT Press Office +46 8 506 55 334, press@eqtpartners.com

About EQT Credit
The EQT Credit platform, which spans the full risk-reward spectrum investing with three strategies: senior debt, direct lending and credit opportunities, has invested over EUR 5.1 billion across over 170 companies since inception in 2008.
For more information: www.eqtpartners.com/Investment-Strategies/Credit

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 28 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.
For more information: www.eqtpartners.com

Categories: News

Tags:

Stamina Group AS sold to a fund managed by Norvestor Equity AS

Hercules Capital

Herkules Private Equity Fund III has entered into an agreement to sell Stamina Group AS to a fund managed by Norvestor Equity AS. Stamina Group is the leading provider of Occupational Health Services (“OHS”) in the Nordics with a nation-wide presence in Norway and Sweden.
After a disappointing start of the ownership, several changes were made in the beginning of 2016, including implementation of a completely new strategy. Since then, the company has completed a full turnaround. Non-core business areas, all loss-making when the turnaround was decided, were divested after successful implementation of several profitability improvement initiatives. In parallel, several operational and strategic efforts were implemented in the core OHS business, resulting in a positive development with strong organic revenue growth and more than tripled EBITDA.
Gaute Gillebo commented: “We are very pleased with the company’s development following the comprehensive strategy change in 2016. We are impressed by how management and the employees have responded following the changes and by the strong results they have generated. Stamina is now stronger than ever and ready to realize its full potential.”The Herkules transaction team was led by Gaute Gillebo and supported by Fredrik Toft Bysveen.

Herkules Private Equity Fund III was advised by DNB Markets, Schjødt, and PwC.

Contact information:
Gaute Gillebo, Co-Managing Partner at Herkules Capital, +47 45 83 00 00

Categories: News

Tags:

Onex to Sell BrightSpring Health Services

Onex

Toronto, December 10, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliates
(the “Onex Group”) today announced they have agreed to sell BrightSpring Health Services
(“BrightSpring”), the leading provider of comprehensive home and community-based health
services to complex populations in need of specialized care. The transaction is expected to close
in the first quarter of 2019 subject to customary closing conditions, including regulatory approval.
The terms of the transaction are not being disclosed.

“Over the course of our ownership, BrightSpring has significantly increased the breadth and depth
of its services through a combination of organic growth, add-on acquisitions and improvements in
its service-delivery model – striving to be a leading partner to states and payors in its markets. In
the process, the company has built a full suite of clinical and non-clinical services, the delivery of
which make a difference in people’s lives and in the communities BrightSpring serves,” said Josh
Hausman, a Managing Director of Onex. “We’d like to thank Jon Rousseau, BrightSpring
management and all of the company’s service professionals for being great partners to Onex and
its investors. We’re extremely proud of the company’s mission to help people live their best life,
and we wish the team continued success in the future.”

“Onex has been a terrific partner. We’re grateful for its commitment and support, which has
allowed us to expand our reach and impact more lives, invest in technology and standards, and
provide quality and compassionate care where and when our clients and patients need it most,”
said Jon Rousseau, President and Chief Executive Officer of BrightSpring. “Onex’ commitment
to our employees, the people we serve, and quality and service has been unwavering, and it has set
the tone throughout our organization.”

In June 2004, Onex made an initial minority investment in BrightSpring (formerly ResCare)
through Onex Partners I and, in November 2010, invested additional capital through Onex
Partners III to acquire a majority stake in a take-private transaction. Onex’ portion of the sale
proceeds as a Limited Partner in the Funds is expected to be approximately $190 million, including
carried interest of $39 million. This results in a blended gross multiple of invested capital of
5.7 times. BrightSpring is the last investment in Onex Partners I. In total, this fund made ten
platform investments and generated a gross multiple of invested capital of 4.0 times (net multiple
of invested capital of 3.1 times) and an approximate 55% gross rate of return (net rate of return
of 38%).

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.

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

Categories: News

Tags:

Elysian Capital announces acquisition of Facilis Group in USA

Elysian Capital

Elysian Capital LLP (‘Elysian’) is delighted to announce that it has made its second investment into the promotional products sector following its investment in Brand Addition in May 2017.

Elysian has acquired Facilis Group (Facilis), a core service provider to more than 120 entrepreneur led distributor businesses (its Partners) in the fragmented $26bn North American promotional products industry.

Facilis provides unparalleled services to its Partners via a subscription based service providing best-in-class sales workflow and website technology, preferred supplier contracts and supply chain tools, and a vibrant community network. These three service pillars support and enable their Partners and preferred suppliers to grow.

Both Facilis and Brand Addition are market leading companies within their respective specialist sectors of the large and growing promotional products sector where they deliver unique services to their Partners and clients that set them apart from their competition. Brand Addition, itself a Facilis Partner in the US for ten years, provides the complex services necessary to support the promotional product programmes and agendas of large corporates across the US, Europe and Asia.

Whilst retaining their separate brands, growth strategies and management teams, Facilis and Brand Addition will be under common ownership within Elysian. There are a number of exciting opportunities for Facilis and its Partners with Brand Addition given the group’s combined business spend, enhanced geographic presence and continued investment in technology.

Dan Rochette, Martin Weber and Chuck Fandos, the former owners of Facilis, together with their wider management team all remain with the business.

 

Chuck Fandos, CEO of Facilisgroup said:

“Dan, Martin and myself believe that Elysian will be a strong investor as we continue to grow and evolve Facilis group. They share in our vision and mirror our mission to help our Partners be ever more competitive and successful.”

 

Tom Falcon, Chairman of The Pebble Group and Operating Partner of Elysian Capital LLP said:

‘We are really excited about our investment in FacilisGroup, our second in the industry. In Facilis we see a committed and extremely capable team helping their terrific community of Partners grow via their industry leading technology and supply chain.”

 

For further information, please contact:

Tom Falcon, Partner at Elysian Capital       tom@elysiancapital.com

Categories: News

Tags:

TA Associates to Invest in Netsmart Technologies

TA associates

BOSTON and OVERLAND PARK, KS – TA Associates, a leading global growth private equity firm, today announced that it has signed a definitive agreement to invest, alongside GI Partners, in Netsmart Technologies, Inc. (“Netsmart” or “the Company”).

Netsmart is a leading healthcare software company delivering management process solutions and electronic medical records to the health and human services (HHS) and post-acute end markets. TA Associates and GI Partners, a current shareholder in Netsmart, will acquire the stake in Netsmart held by Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX). The transaction is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions. Financial terms of the transaction were not disclosed.

Founded in 1968, Netsmart provides software and services to the HHS and post-acute markets. The Company’s products, comprised primarily of electronic health records (EHRs) and related offerings, address the clinical, financial and administrative needs of its clients. The Netsmart suite includes care coordination, connectivity and integration, analytics, benchmarking, consumer engagement, mobility and telehealth offerings, among others. The largest provider of its kind in the United States, Netsmart serves more than 600,000 users from over 25,000 organizations across the country within four core areas: behavioral health, social services, care at home and senior living. The Company is headquartered in Overland Park, Kansas, with additional offices in Arkansas, California, Illinois, Missouri, New York, North Carolina and Ohio.

“We are excited to partner with the leading healthcare technology provider serving these growing and important end markets,” said Mark H. Carter, a Managing Director at TA Associates who will join the Netsmart board of directors. “Netsmart’s compelling attributes include a high-quality business model, a large and diversified customer base and software solutions that we believe are mission critical. We welcome the opportunity to work with Netsmart CEO Mike Valentine, whom we have known for many years, and with the investment professionals at GI Partners.”

“Since our founding, Netsmart has sought partners who share our commitment to excellence and quality healthcare outcomes,” said Mike Valentine, CEO of Netsmart. “TA Associates brings decades of experience investing in the healthcare industry and supporting efficiency, quality care and cost containment. Along with the team at GI, I am delighted to welcome TA as an investor and look forward to a close collaboration in continuing the evolution of Netsmart.”

Netsmart estimates the addressable market for HHS, home health, and long-term care software and technology solutions at $25 billion annually. According to the Company, the U.S. market for its core product offering is approximately $14.5 billion, with behavioral health comprising nearly half of that figure.

“Increasingly complex clinical, billing and regulatory requirements, and the need to measure and report patient outcomes, are accelerating the adoption of Netsmart’s software solutions,” said Hythem T. El-Nazer, a Managing Director at TA Associates who also will join the Netsmart board of directors. “In addition, as the HHS and post-acute industries continue to consolidate and expand, the need for technology solutions to coordinate care and drive efficiency will grow. As the leader addressing the unique and complex billing needs of customers spanning the continuum of care, we believe that Netsmart is very well positioned for continued growth.”

Kirkland & Ellis is providing legal counsel and Deloitte is serving as financial advisor to TA Associates.

About Netsmart
Netsmart designs, builds and delivers electronic health records (EHRs), solutions and services that are powerful, intuitive and easy-to-use. The Company’s platform provides accurate, up-to-date information that is easily accessible to care team members in behavioral health, care at home, senior living and social services. Netsmart makes the complex simple and personalized so clients can concentrate on what they do best: provide services and treatment that support whole-person care. By leveraging the powerful Netsmart network, care providers can seamlessly and securely integrate information across communities, collaborate on the most effective treatments and improve outcomes for those in their care. The Company’s streamlined systems and personalized workflows put relevant information at the fingertips of users when and where they need it. To learn more about how Netsmart is changing the face of healthcare today, please visit www.ntst.com.

About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

 

 

 

 

Categories: News

Tags:

Stamina Group AS sold to a fund managed by Norvestor Equity AS

Hercules Capital

Herkules Private Equity Fund III has entered into an agreement to sell Stamina Group AS to a fund managed by Norvestor Equity AS. Stamina Group is the leading provider of Occupational Health Services (“OHS”) in the Nordics with a nation-wide presence in Norway and Sweden.
After a disappointing start of the ownership, several changes were made in the beginning of 2016, including implementation of a completely new strategy. Since then, the company has completed a full turnaround. Non-core business areas, all loss-making when the turnaround was decided, were divested after successful implementation of several profitability improvement initiatives. In parallel, several operational and strategic efforts were implemented in the core OHS business, resulting in a positive development with strong organic revenue growth and more than tripled EBITDA.

Gaute Gillebo commented: “We are very pleased with the company’s development following the comprehensive strategy change in 2016. We are impressed by how management and the employees have responded following the changes and by the strong results they have generated. Stamina is now stronger than ever and ready to realize its full potential.”

The Herkules transaction team was led by Gaute Gillebo and supported by Fredrik Toft Bysveen.

Herkules Private Equity Fund III was advised by DNB Markets, Schjødt, and PwC.

Contact information:
Gaute Gillebo, Co-Managing Partner at Herkules Capital, +47 45 83 00 00

Categories: News

Tags:

Monaghan Mushrooms acquires 100% of Walkro, a leading producer of substrate for the mushroom industry

GIMV

Irish company Monaghan Mushrooms has agreed to acquire all shares of Walkro held by Gimv and Walkro’s management.

Walkro (www.walkro.eu) was founded in Belgium in 1991 and has grown into one of the largest producers of substrate for the mushroom industry. Walkro produces 8,500 tons of substrate per week at its production facilities in Maasmechelen (Belgium), Blitterswijck (the Netherlands) and Wallhausen (Germany). With more than 235 employees, Walkro sources its own raw materials (mainly horse and poultry manure), produces best in class substrate and takes care of transport to mushroom growers all over the world.

At the end of 2011, Walkro was acquired by operating partner Monaghan Mushrooms, together with financial investor Gimv and Walkro’s management team. Since then, Walkro’s turnover has grown to just over EUR 75 million (2017), making Walkro one of the largest producers of mushroom substrate in the world. Today, co-shareholder Monaghan buys out both Gimv and management, becoming the group’s sole shareholder.

In the new structure, Walkro will remain focused on producing high-quality mushroom substrate for independent growers around the world. The Walkro management underlines its confidence in the new structure by acquiring shares on Monaghan level. The current statutory management of Walkro, consisting of Eric Houben (CEO) and Peter Fijneman (CFO), will be responsible for all European substrate activities within the Monaghan group in similar positions, which has a total size of 15,000 tons of mushroom substrate per week. Eric Houben will also become a board member of Monaghan Mushrooms.

Monaghan Mushrooms (www.monaghan-mushrooms.com) is one of the world’s largest substrate and mushroom companies. The company is a ‘spore to store’ vertically integrated agribusiness meaning that it produces substrate for the cultivation of mushrooms and grows, harvests and packs quality and fresh mushrooms before delivering its mushrooms directly to its customers, some of the largest international retailers. The company is owned by the Wilson family (Ireland). Monaghan employs more than 3,500 employees and is headquartered in County Monaghan, Ireland. The group further has operations in Canada, the United Kingdom, Belgium, Netherlands and Germany.

Over the entire holding period, the investment in Walkro generated a return above Gimv’s long-term average return. No further financial details will be disclosed.

Categories: News

Tags:

AVS Verkehrssicherung acquires Traffics A/S

Triton

Kürten (Germany) / Gadstrup (Denmark), 10 December 2018 – AVS Verkehrssicherung (AVS), a Triton Fund IV company, has acquired Traffics A/S (“Traffics”), a Danish provider of construction site- and traffic security, headquartered in Gadstrup (Denmark). The purchase price has not been disclosed.

Founded in 2006, Traffics offers complete solutions, services and equipment for construction sites- and traffic security. Its customers are road construction companies as well as public works and communities.

“We have a long standing business relationship with Traffics based in trust. Together, AVS and Traffics can offer a wide range of products and services which cater to the highest demands of customers in the Danish market;” comments Dirk Schönauer, Managing Director at AVS.

About AVS Verkehrssicherung
AVS Verkehrssicherung is a leading specialist provider of highway traffic safety services in Germany. The Company, headquartered in Kuerten, offers all essential services throughout highway traffic-safety projects. These services range from initial planning and obtaining permits to complete construction site setup and security. AVS has a nationwide presence with 14 locations across Germany and around 600 employees.

For further information: http://www.avs-verkehrssicherung.de

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 Contacts

AVS Verkehrssicherung
Dirk SchönauerTel.: +49 (0) 214 313834 – 11
dirk.schoenauer@avs-verkehrssicherung.de

Triton
Marcus Brans
Tel.: +49 69 921 02204

Categories: News

Tags: