Monthly Archives: May 2019

EQT Infrastructure acquires Melita

Fortino Capital

May 2019. EQT Infrastructure IV (“EQT” or “EQT Infrastructure”), has signed an agreement to acquire Melita Limited (“Melita” or the “Company”) from Apax Partners and Fortino Capital. 

Founded in 1991, Melita is a fully converged and diversified telecommunication infrastructure owner as well as a leading services provider in Malta. Melita services consumers, business and government customers on Malta with mainly four types of products: nationwide Gigabit broadband services for households and small businesses, mobile and fixed telephony as well as TV services. Melita also offers colocation services and operates a purpose-built data centre. Melita will continue to operate under the leadership of CEO Harald Rösch, a longstanding Industrial Advisor to EQT.

EQT Infrastructure intends to support Melita’s growth by further upgrading its fixed and mobile networks and opening an additional data centre location on Malta. It will also support Melita’s internationalization strategy including its expansion in Italy as well as its innovative IoT connectivity proposition.

Ulrich Köllensperger, Partner at EQT Partners and Investment Advisor to EQT Infrastructure IV, comments: “EQT has been built on a passion for developing companies. We invest in good companies across the globe with the aim of turning them not only into great companies but also sustainable ones. This is exactly the formula we aim to apply to Melita, which is already an innovator in the Maltese market and beyond in terms of infrastructure, products and customer service. As a result, we are confident that the coming months and years will be exciting and rewarding both for Melita’s employees and for its customers.”

Harald Rösch, CEO of Melita, said: “ This transaction is another proof of our success over the last years, built on the hard work from all employees and support from our owners. Thanks to our customers’ continued loyalty and increased trust we have positioned Melita as a telecom market leader in Malta in terms of innovation, technology and customer satisfaction.  With the backing of EQT Infrastructure and their extensive experience in our industry, we will continue the journey by developing our networks and providing outstanding customer experience in the years to come. Melita is ideally positioned to grow in the Maltese telecom market and beyond.”

Thomas de Villeneuve, partner at Apax Partners, said: “We are very proud of the journey achieved by Melita over those last 3 years. Under the leadership of Harald, Melita has heavily invested in its network, its digitial transformation to become a world class operator. We congratulate Harald and the whole Melita team for the amazing work they have achieved that also benefits to the whole Maltese community”.

Duco Sickinghe, Managing Partner at Fortino Capital Partners, comments: “We have enjoyed working with Apax Partners and Melita’s dedicated management team to build a leading telecom service provider in Malta. A company that every day again tries to serve its customers in the best possible way by using the latest available technologies.”

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

Read the press release by Melita here: https://www.melita.com/eqt-acquires-melita/

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Ardian acquires a majority stake in Sintetica, a historic swiss pharmaceutical company, to support its internationalization strategy

Ardian

Mendrisio, May 23rd 2019. Ardian, a world-leading private investment house, announces the signing of a binding agreement for the acquisition of a majority stake in Sintetica SA, a Swiss pharmaceutical company, to support its international expansion in line with the management team’s strategy. Under the agreement, current shareholders will reinvest via a minority stake.
Founded in 1921, Sintetica specializes in research, manufacturing and marketing of sterile injectable solutions, mainly in anesthetics, analgesics and adrenergic agonists. The company has manufacturing plants in Mendrisio and Couvet (Switzerland)and employs 280 people. Sintetica has a portfolio of over 50 products which are distributed in more than 45 countries. The company has experienced strong growth in recent years (+31% CAGR in the period 2016-2018) and its turnover in 2018 was approximately CHF 75 million.
Sintetica’s unique proposition is characterized by high-quality and innovative products, which are the result of its close collaboration with hospitals and universities. Over the last few years, Sintetica has developed and patented several innovative drugs and ready-to-use formulations in-house, aligned with the latest needs of both patients (e.g. less use of opioid drugs) and hospitals (by supporting, among others, one-day-surgery).

Yann Chareton, Managing Director at Ardian, said: “We are excited to join forces with Sintetica and support the company in its next growth phase by investing in innovation and further improving product quality. Leveraging Ardian’s global network and consolidated experience in partnering with entrepreneurs and managers, we intend to support the company in the development of its strategic plan in continuity with the growth path already undertaken.”

Luca Bolzani, shareholder and Chairman of Sintetica’s Board of Directors, also on behalf of current majority shareholder Daphne, declared: “We are very pleased about the new partnership with Ardian, which will allow Sintetica to further develop its presence in international markets. At the end of a detailed evaluation phase, we have chosen to share our growth project with Ardian, thanks to its credibility and its industrial approach. We are sure that the opportunities arising from the new partnership will be crucial in accelerating our development phase and ensure the necessary continuity to Sintetica’s growth. We believe that, thanks to this partnership, the best conditions have been created to further develop the project we started in the early 2000s, which led Sintetica to become one of the most innovative companies in its reference market.”

Augusto Mitidieri, CEO of Sintetica, commented: “The company’s strategy is based on a global innovation leadership. Quality without compromise and a relentless propensity to innovate are the cornerstones of our strategic plan. People are our most important asset and represent the main reason for our success. We are all pleased to share the new chapter of the company’s growth with Ardian, which will contribute to strengthening Sintetica’s global expansion.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 600 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT SINTETICA

Founded in 1921 and based in Mendrisio, Sintetica is a Swiss pharmaceutical company specialized in the research, manufacturing and marketing of sterile injectable solutions, including anaesthetic, analgesic and adrenergic drugs, distributed in more than 45 countries. Sintetica operates with an agile distribution model based on two channels: a direct one with hospitals (in Switzerland, Germany, Austria, the United Kingdom and Ireland) and another one based on strategic partnerships through license agreements on a global basis.
With 280 employees and manufacturing plants in Mendrisio and Couvet, the company is globally recognised for its innovative human-centred organisational model, the distinctive go to market philosophy based on a 360 degrees respect and on the high quality of its products.
www.sintetica.com

LIST OF PARTICIPANTS

ARDIAN – Advisor
M&A Advisor: Leopoldo Zambeletti
Commercial Due Diligence: IQVIA – Massimiliano Rubin, Dean Griffiths
Financial Due Diligence: PWC – Emanuela Pettenò, Luca Vergani
Tax: Gitti & Partners – Diego De Francesco, Paolo Ferrandi
Legal: Gianni, Origoni, Grippo, Cappelli & Partners – Gianluca Ghersini, Valentina Dragoni, Raffaella Ceglia
Financing: Gattai, Minoli, Agostinelli & Partners – Lorenzo Vernetti, Silvia Romano, Giorgia Gentilini
Operational Due Diligence: Candesic – Marc Kitten, Floris Wentholt

SINTETICA – Advisor
Financial Due Diligence: PWC – Federico Mussi, Francesco Tieri
M&A Advisor: Rothschild & Co
Legal Advisor: NCTM – Paolo Montironi, Pietro Zanoni, Eleonora Parrocchetti, Alessia Trevisan
Tax: Ludovici Piccone & Partners – Michele Aprile, Loredana Conidi, Daniel Canola

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Ardian Real Estate acquires office bulding “3 HÖFE WORK” in Berlin from LBBW

Ardian

Third investment in Berlin underscores importance of the German real estate market in Ardian Real Estate’s investment strategy

Frankfurt am Main/Berlin, May 23, 2019 – Ardian, a world-leading private investment house, has finalized an agreement with LBBW Immobilien Development GmbH to acquire the office project “3 Höfe work”, which is currently under construction, at Lützowstrasse 107-112 in central Berlin. Financial details of the transaction will not be disclosed.

Located in close proximity to Potsdamer Platz and the City Park at Gleisdreieck, the property will have around 18,000 sqm of rental space in one of Berlin’s most sought-after office locations. The property is the third investment by Ardian Real Estate in Berlin.

The office complex is expected to be completed in the third quarter of 2021. It will have seven stories and an underground car park with 52 parking spaces. The modern architecture offers attractive and flexible floor space options – allowing for a variety of room concepts – as well as high quality fixtures and fittings. The property is well-served by public transport and is within walking distance of Gleisdreieck underground station. With an area of 4,500 sqm, the property will comprise four development units with two main entrances and around 2,500 sqm of rental space per floor.

Bernd Haggenmüller, Managing Director, Ardian Real Estate, said: “The construction project “3 Höfe work” is an ideal addition to our existing property portfolio in Berlin. With the property at Lützowstrasse 105-106, we have just recently in December 2018 acquired a property in direct vicinity to our new investment, underscoring the attractiveness of the Gleisdreieck location. We anticipate continued high demand for office space in central Berlin and, combined with low vacancies, we expect further dynamic rental and value growth potential for modern and attractive properties. Berlin is known for its thriving and diverse corporate landscape and is therefore a core market for Ardian Real Estate, which acquires and develops attractive core-plus and value-add properties in key European cities.”

Other investments made so far by Ardian Real Estate in Germany include office complexes in Berlin (Spichernstrasse and Lützowstrasse), as well as the Konrad and Heinemann Bogen office complexes in Munich. Several months after acquiring the first two properties in Berlin, Ardian achieved considerable success with their subsequent leasing activity.

Acquired in September 2018, the office building on Spichernstrasse 2 in Berlin City-West – which possesses a rental space of 12,600 sqm – has now been fully leased following a quarter of leases in the area having expired at the end of 2018. The office complex at Lützowstrasse 105-106 is also experiencing high demand for rental space. The building has a rental space of approximately 30,000 sqm, and currently has an occupancy rate of more than 90 percent. With its proven rental expertise, Ardian will also look to promote “3 Höfe work”’s attractive office location.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$ 90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with 600 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

COMPANIES INVOLVED IN THE TRANSACTION

On the buyer’s side, Herbert Smith Freehills, REC and taxess acted in an advisory capacity during the transaction. P+P Pöllath + Partners and BNP Paribas. The debt financing for the transaction was provided by pbb Deutsche Pfandbriefbank.

PRESS CONTACT

CHARLES BARKER
Peter Steiner
peter.steiner@charlesbarker.de
Tel: +49 69 79409027
Jan P. Sefrin
Tel: +49 69 79409026

 

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CDPQ provides financing to Medavie Inc. to support advancement of strategic objectives

Cdpq

La Caisse de dépôt et placement du Québec (“CDPQ”) today announced $75 million in financing, which could be increased to $100 million, in the form of a subordinated private debt, to Medavie Inc. (“Medavie”), a Canadian non-profit organization.

Medavie operates Medavie Blue Cross, a premier all-in-one insurance carrier that provides health, dental, travel, life and disability benefits, and administers various government-sponsored health programs, along with Medavie Health Services.

“As a leading health solutions partner in Canada, we are continually reinvesting in our business to help improve the wellbeing of Canadians,” said Bernard Lord, CEO, Medavie. “Our financials are strong and trending for continued growth, and we are pleased to work with CPDQ on an investment structure that best suits our overall needs.”

This transaction, structured directly by CDPQ, will provide Medavie with additional capital as it continues to advance its growth initiative.

“Because of its resilience to economic cycles and the stable returns it generates over a long-term horizon, the insurance sector is perfectly in line with our credit strategy,” said Marc Cormier, Executive Vice-President, Fixed Income, at CDPQ. “CDPQ is delighted to support Medavie, a high-quality organization that has diversified its services to provide health care solutions across Canada.”

In addition to its interests in certain Québec insurers, CDPQ carried out major transactions in this sector abroad in the past few years, with investments in Greenstone in Australia, USI and Sedgwick in the United States, and U.K.-based Hyperion Insurance Group.

ABOUT MEDAVIE

Medavie is a national health solutions partner. Together, with our more than 6,400 employees, we are committed to improving the wellbeing of Canadians.

As a not-for-profit organization, Medavie oversees Medavie Blue Cross, a premier all-in-one benefits carrier and public health program administrator, and Medavie Health Services, a national primary health care solutions organization and the largest private provider of EMS management services in Canada.

We don’t have shareholders. Instead, we are proud to invest in the Medavie Health Foundation to address some of our country’s most pressing physical and mental health care challenges.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2018, it held CA$309.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

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TowerBrook announces the sale of Metallo Group

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TowerBrook Capital Partners today announces that it has signed an agreement with Aurubis AG, Hamburg, for the disposal of Metallo Holdings 3 B.V., (“Metallo”), the Belgian-Spanish non-ferrous metals recycling Group.

Metallo is a recycling and refining company with around 530 employees at its main sites in Belgium and Spain. In the fiscal year 2018, Metallo generated revenues of approximately EUR 985 million. With the transaction, Aurubis continues to actively pursue its multi-metal and recycling strategy.

The closing of the transaction is subject to clearance by the responsible merger control authorities and is expected to take place towards the end of the year. The Supervisory Board of Aurubis AG has already approved the transaction.

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AnaCap acquires leading independent Danish private health insurance business

Anacap

21 May 2019

AnaCap Financial Partners(“AnaCap”), the specialist European financial services private equity firm, today announces the acquisition of a majority stake in SundhedsGruppenA/S (“SundhedsGruppen”), which consists of Dansk Sundhedssikring A/S a leading independent Danish private health insurance provider, and PrimaCare A/S a quality provider of healthcare networks.

AnaCap is acquiring the majority stake in SundhedsGruppen from the Company’s Founders, who will retain a minority.

SundhedsGruppen, provides health insurance and claims management services to clients’ employees and has built a market-leading technological infrastructure that also white labels to other providers in adjunct insurance areas.

The Company has a unique partnership arrangement with medical clinics throughout Denmark that allows for best-in-class provision of healthcare services to its customers’ employees, with a clear focus on specialist support and local availability.

SundhedsGruppen’s proprietary technological platform facilitates accurate identification of optimal healthcare access as well as reporting, feedback and claims management respectively. AnaCap will now look to leverage its deep insurance sector understanding and expertise in improving both technological and digital infrastructure to support enhancements in the customer experience as well as drive growth in new and existing markets.

The business currently provides insurance cover for approximately 250,000 individuals in Denmark, through a client list comprising several of the Nordics’ largest blue-chip companies, having grown from a founder-backed start-up in 2012. Driven by unique market positioning, the Company generated a c.70% CAGR in premiums during the period 2012-2018 vs. a 5% market norm.

AnaCap will also deploy its expertise in the insurance sector to support management’s ambition to grow market share internationally, into the Nordics and wider geographical markets, as well as through additional insurance market channels. The growth of the business will be through organic expansion models as well as identifying attractive bolt-on acquisition opportunities.

Tassilo Arnhold, Managing Director at AnaCap, comments:“AnaCap is delighted to be partnering with SundhedsGruppen.The Company has created a great insurance technology and data-driven platform with a uniquely differentiated insurer challenger proposition, high customer service standards and competitive underwriting. We are confident that our long-standing expertise in backing businesses poised for international growth will actively support this ambitious growth plan and management team, both through technological and operational investments.

” Klaus Busch, Chairman at SundhedsGruppen, comments:“By combining technology with industry expertise and a unique customer proposition, we have built a fast-growing business aiming to grow internationally and into other related industry verticals.One Stephen StreetLondonW1T 1ALPhone: +44-207-070-5250Fax: +44-207-070-5290E-mail: contact@anacapfp.comTransforming Financial Services Across Europe

We are very pleased to have identified AnaCap as a partner for the next stage of our growth and look forward to their support throughout.

”Kent Jensen, CEO at SundhedsGruppen, comments:

“We are extremely proud of the progress we have made in recent years, during which time we have built and strengthened a leading market position. Together with our highly experienced management and staff, we intend to rapidly expand our differentiated offering into new markets, both geographically and sector specific, where there is clear demand for best-in-class private health insurance.”AnaCap was advised during the process by Deloitte, Carey Olsen and Plesner.

The owners of Dansk Sundhedssikring were advised by Nordic M&A, Omera Consulting, and Moalem Weitemeyer Bendtsen.The financial details for this arrangement were not disclosed.

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CSAM Announces Deal to Acquire KIBI

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Priveq

The transaction expands CSAM’s leadership in the Nordic niche eHealth market OSLO, Norway(May21, 2019) –CSAM announced today that it has entered into an agreement to acquire KIBI –a medical diagnostics and documentation company with offices in Sweden, Finland and Denmark.

KIBI’s medical imaging solutions are used by more than 100 Nordic hospitals and healthcare centreswithin primary, outpatient and inpatient care.The company is one of relatively few in the Nordics that addresses both DICOM and non-DICOM formats, with full integration of all medical imaging components with various electronic patient record (EPR) systems. KIBI’s headquarters are located in Stockholm,Sweden.

-KIBI’s solutions are a strategic complement to CSAM’s strong offerings in medical imaging and connected healthcare domains, said Sverre Flatby, CSAM CEO. –Together, CSAM and KIBI will offer an unmatched portfolio of scalable, integrated and innovative solutions that provide significant value to our customers and their patients. -I am excited for the opportunity ahead as KIBI and CSAM join our visions, solutions and specialised teams, said Robert Cygnaeus, KIBI CEO.

–CSAM has built a strong reputation as a leader in the Nordics, and I am confident that together we can strengthen our presence further indeliveringnicheeHealth solutions that improve healthcare throughout the Nordics and beyond. The acquisition of KIBI is consistent with CSAM’s strategy to pursue growth through a combination of strategic M&As and organic sales. The transaction is estimated to close by the end of May.

-KIBI’s specialised solutions and highly skilled employees are a strong fit with CSAM’s and will help us achieve our short-and long-term growth ambitions, said Flatby. -With this acquisition, CSAM expands its position across the Nordics, increasing our customerbase in Denmark, Finland and Sweden.

CSAM has been a leading provider of medical imaging and connected healthcare solutions in the Nordics for more than a decade. The company works closely with healthcare professionals and organisations to develop software solutions that deliver the highest value for their operations.

About CSAM

CSAM has established itself as a leading Nordic niche player in the specialised eHealth market with a unique blend of best-in-class innovative technology, and outstanding human skills. The company’s diverse portfolio of software solutions enables healthcare providers to access relevant clinical information at the point of care. CSAM’s commercial headquarters are located in Oslo, Norway. The company also has local offices in Stockholm, Karlstad, Gothenburg, Helsinki, Oulu, Tampere, Tromsø and Warwickshire, as well as a wholly owned software engineering subsidiary in the Philippines.A privately-owned company backed by strong financial partners, CSAM aspires to achieve continued growth both organically and through selected mergers and acquisitions. For more information, visit www.csamhealth.com.

For more information, please contact:

Sverre Flatby, CEOJennifer Goode, Communications Directorsverre.flatby@csamhealth.comjennifer.goode@csamhealth.com+47 9159 9159+1-705-760-0782KIBI contact:Robert Cygnaeus, CEOAnn-Christine Jungmar, CCOrobert.cygnaeus@kibi.seann-christine.jungmar@kibi.se+46 58 23951+46 70912 31 11

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Navigant and InfraRed Capital Partners launch Compass Energy Platform to streamline distributed energy infrastructure projects

InfraRed Capital Partners

InfraRed Capital Partners (“InfraRed”), in collaboration with Navigant (NYSE: NCI), is pleased to announce the launch of Compass Energy Platform LCC (“Compass”), a joint venture that provides an innovative platform to help cities and utilities develop and finance local energy infrastructure solutions.

Compass brings together the combined expertise of a diverse set of energy infrastructure project experts in one platform. Navigant’s Energy segment contributes its deep industry insight and experience, while InfraRed brings its energy project structuring and development expertise as well as funding for Compass’ future pipeline of projects.

Compass leverages a public-private partnership financing model to assist clients in the development of energy resources. This includes access to expert engineering and construction service providers that can improve the delivery and efficiency of local energy services to communities and businesses. Resources also include the use of distributed generation technologies, such as solar, wind, and batteries, combined with smart asset networks, such as microgrids and district heating and cooling systems.

“Compass seamlessly integrates all aspects of a local energy project, aligning local government, businesses, investors, engineering and construction firms, and other stakeholders to deliver highly efficient infrastructure solutions,” said Thomas Buss, director at InfraRed Capital Partners.

Jan Vrins, leader of Navigant’s global Energy segment, commented “As we build the energy system of the future, local governments and utilities are increasingly focused on promoting sustainable, distributed energy infrastructure projects that increase resiliency and the security of supply. While these projects can be complex and carry risk, Compass simplifies this process by delivering end-to-end program management, project structuring and development and access to financing resources.”

Rick Bolton, CEO of Compass and director of new projects within Navigant’s global Energy segment, said “Compass works to create more resilient economies and communities, while also streamlining the process for the many stakeholders involved in implementing local energy infrastructure projects. From start to finish, Compass helps to mitigate risk by assisting the client in its selection of the appropriate business and commercial models and partnerships for the project.”

In addition to its strategic relationships with Navigant and InfraRed, Compass has a growing list of relationships with implementation service providers, creating a complete energy development platform. Compass’ implementation relationship partners include Burns Engineering (engineering), PowerSecure (microgrid development, operation, and maintenance), Concord Engineering (engineering), WXY Studio (urban planning), Greener by Design (stakeholder engagement), and Advanced Energy Agency (stakeholder engagement logistics).

Enquiries

Tulchan Communications
+44 (0) 20 7353 4200
Sheebani Chothani

More Information

InfraRed Capital Partners is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul, Sydney and Mexico. With around 150 professionals it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

Since its inception, InfraRed has launched 19 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure Company Limited and The Renewables Infrastructure Group (TRIG), both of which are members of the FTSE 250. To date, InfraRed has realised six funds, demonstrating its ability to create real value for its stakeholders.

InfraRed has been investing in the infrastructure market for over 20 years and is an expert in the development, financing and management of infrastructure projects from their conception, design and construction into their operating phases. With over 200 infrastructure projects under management, it has a long and successful track record investing in low carbon generation and renewable energy infrastructure projects, including wind farms, solar parks and natural gas turbines, as well as energy-enabling infrastructure such as energy storage and flexible generation. To date, InfraRed has developed greenfield projects with over 2GW of renewable energy and flexible power capacity.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment and its infrastructure business has been awarded the highest rating.

Further details can be found on InfraRed’s website, www.ircp.com.

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InfraRed Capital Partners sells interest in Iqaluit International Airport project

InfraRed Capital Partners

InfraRed Capital Partners (“InfraRed”) has completed the sale of a majority interest in Arctic Infrastructure Limited Partnership to Concert Infrastructure Fund (“Concert Infrastructure”).

Arctic Infrastructure Limited Partnership is the entity responsible for the improvement, operation and maintenance of the Iqaluit International Airport in Nunavut.  The Iqaluit Airport project is a 34-year concession for the design, construction and financing of the expansion and redevelopment of the existing Iqaluit International Airport in Iqaluit, Nunavut, Canada, and the provision of operations and maintenance services for the Government of Nunavut.

The original CAD 290m capex project included the design and construction of a new air terminal building and combined services building, the repaving and expansion of the runway and the enhancement of roadways and lighting systems. The facility opened in December 2017 and has been a recipient of several awards including the CCPPP National Awards gold award for infrastructure in 2017. It was the first complete airport infrastructure project to be built as a P3 in North America

InfraRed has developed this strategically located asset over five years and delivered on its ambitious and transformative plan to regenerate, in artic conditions at times, a decades-old facility which became operational in December 2017.

Enquiries

Tulchan Communications
+44 (0) 20 7353 4200
Sheebani Chothani

More Information

InfraRed Capital Partners is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 150 professionals it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.

Since its inception, InfraRed has launched 18 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure PLC (“HICL”) and The Renewables Infrastructure Group (“TRIG”), both of which are members of the FTSE 250. To date, InfraRed has realised six funds, demonstrating its ability to create real value for its stakeholders.

InfraRed has been investing in the Infrastructure market for over 20 years and is one of world’s largest managers of social and transportation infrastructure projects. InfraRed has evolved its business from principally managing PPP projects at its inception to a diversified and international investment business, with over 80 infrastructure investment professionals, managing over 200 investments in PPP projects, renewable energy, regulated and economic infrastructure businesses.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment and its infrastructure business has been awarded the highest rating.

Further details can be found on InfraRed’s website, www.ircp.com.

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Cala Health Raises $50 Million Series C Funding

Baird Capital

BURLINGAME, Calif.–(BUSINESS WIRE)–Cala Health, Inc., a bioelectronic medicine company developing wearable therapies for chronic disease, today announced it has completed a $50 million Series C financing. Cala Health will use the funds to introduce Cala TrioTM, a breakthrough therapy for hand tremors in people with essential tremor, to the market as well as expand its therapeutic pipeline. As part of the financing, industry veteran Stacy Enxing Seng will be joining Cala Health’s team as an Independent Director and Board Chair.

“We are excited to continue partnering with Cala Health on its journey to support patients with chronic disease with wearable neuromodulation therapies”

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New investors in the Series C financing include Novartis, Baird Capital, LifeSci Venture Partners, TriVentures, and others. All existing investors participated in the round, including Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Lux Capital, Lightstone Ventures, Action Potential Venture Capital, dRx Capital, and GV.

“We are excited to continue partnering with Cala Health on its journey to support patients with chronic disease with wearable neuromodulation therapies,” said Neil Tiwari, General Partner, dRx Capital, a Novartis & Qualcomm joint investment company.

Nicole Walker, General Partner at Baird, added “Cala Health is advancing neuromodulation therapy options without the need for surgery, using body-worn electronics. Baird is thrilled to invest in this field and in the company’s future growth.”

“We are delighted to work with such a strong team of investors and advisors who share our vision for the future of bioelectronic medicines. This financing follows exciting momentum from the past year, including receiving De Novo clearance from the Food and Drug Administration for our therapy for essential tremor and announcing a licensing agreement and ongoing collaboration with Partners Healthcare Innovation and its affiliate, Massachusetts General Hospital,” said Kate Rosenbluth, PhD, Founder and CEO, Cala Health.

Cala Health is preparing for the limited release of the prescription Cala Trio therapy, including an innovative commercial strategy that delivers prescription therapy with the convenience of consumer electronics by serving the patients as a direct distributor. The company recently announced completing enrollment in the largest therapeutic study ever conducted in essential tremor in the US, the landmark PROspective study for SymPtomatic relief of Essential tremor with Cala Therapy (PROSPECT).

About Cala Health, Inc.

Cala Health is a bioelectronic medicine company transforming the standard of care for chronic disease. The company’s wearable neuromodulation therapies merge innovations in neuroscience and technology to deliver individualized peripheral nerve stimulation. The first indication for Cala Health’s wearable therapy is essential tremor, a disease experienced by more than seven million people and characterized by severe hand tremors. New therapies are under development in neurology, cardiology, and psychiatry. The company is headquartered in the San Francisco Bay Area and backed by leading investors in both healthcare and technology. For more information, please visit www.calahealth.com.

Contacts

Media Contact:
Terri Clevenger
terri.clevenger@icrinc.com
(203) 856-4326

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