Monthly Archives: May 2019

Ivalua Exceeds $1B Valuation in New Funding Round to Accelerate Global Expansion & Technology Innovation

Ardian

Valuation establishes Ivalua as the next unicorn founded in France

Paris, France – May 21th, 2019 – Ivalua, a leading provider of global Spend Management cloud solutions, today announced that it has raised $60 million in growth equity funding to further accelerate its rapid growth. This capital raise values the company at a ‘unicorn’ level of more than $1 billion, making Ivalua one of only a handful of unicorns founded in France. Ivalua recently announced that it is on pace to exceed $100 million in annual revenue in 2019.

Investors in this round include Tiger Global Management, a new investor in Ivalua, and Ardian Growth, one of Ivalua’s early investors who increased its overall investment level. Tiger Global Management joins Ivalua’s founders, KKR and Ardian Growth as shareholders. Ivalua’s management retains a majority stake in the company to ensure stable, long term planning and a continued focus on customers.

Spend Management software has emerged as an increasingly strategic tool for businesses, boosting profitability by streamlining procurement processes, improving collaboration with suppliers and optimising cash flow. The Spend Management market is sized at more than $20 billion and continues to develop rapidly as one of the most dynamic segments of the broader software-as-a-service (SaaS) market.

Ivalua has continued to increase its market share due to the unique advantages of its platform. The depth and breadth of its fully unified suite, combined with the unique combination of rapid delivery and unmatched flexibility, allow it to support customers at every stage of their digital transformations. The flexibility allows it to rapidly and uniquely develop and launch industry-specific solutions while maintaining a single code base. Customers realise more and faster value and never outgrow the platform, which allows Ivalua to consistently boast the industry’s highest retention rate, at over 98%, while also rapidly acquiring new customers.

Ivalua has grown while maintaining profitability. The additional funding will support future investments in organic product innovation, global expansion and possibly strategic acquisitions. David Khuat-Duy, CEO and Founder of Ivalua, said, “This investment by one of the world’s leading investment funds is a further testament to Ivalua’s long term strategy and business model. This additional capital will allow us to deliver ever more value to our customers and secure future growth.”

Laurent Foata, Head of Ardian Growth added, “We have been supporting Ivalua since 2011, at the start of their global expansion. We see Ivalua as the future leader in the large and fast growing Spend Management market. I am extremely grateful to Ivalua’s founders for their long term trust, and congratulate the team for this tremendous journey in which they remain the majority shareholder.”

About Ivalua

Ivalua is the Procurement empowerment platform. Recognised as a Leader by Gartner and other analysts, Ivalua’s Source-to-Pay suite is leveraged by over 300 leading companies across the globe to manage over $500 Billion in direct and indirect spend. The platform’s combination of ease-of-use, depth, breadth and flexibility ensures high employee and supplier adoption, rapid time to value and the ability to meet unique or evolving requirements, evidenced by the industry’s leading 98%+ retention rate. Realise the possibilities at :
www.ivalua.com. Follow us at @Ivalua.

About Tiger Global Management

Tiger Global Management, LLC is an investment firm that deploys capital globally. The firm’s fundamentally oriented investments focus primarily on the global Internet, software, financial technology, consumer and industrial sectors. The private equity strategy has a ten-year investment horizon and targets growth-oriented private companies. Such investments have included Spotify, Juul, Harry’s, Warby Parker, Peloton, JD.com, Facebook, LinkedIn, Yandex, Mail.ru Group, Despegar and Ola. The public equity efforts emphasise deep due diligence on individual companies and long-term secular themes. Tiger Global Management, LLC was founded in 2001 and is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.

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: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

Media Contact

Tom Reynolds / Robert Fretwell
Spark Communications for Ivalua
0207 436 0420
ivalua@sparkcomms.co.uk
Ardian
Headland
Viktor Tsvetanov
vtsvetanov@headlandconsultancy.com
Tel: +44 (0)20 3435 7469

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Everstone Group partners with Suresh Vaswani to strengthen its’ global information technology investment effort

Everstone

Mumbai, May 20, 2019 – The Everstone Group has partnered with Suresh Vaswani, who was previously the President of Dell Services and Co-CEO of Wipro, to co-invest in the information technology sector. He will be a Senior Director at the Everstone Group and will also join the board of two group companies – Servion Global Solutions, a US headquartered omnichannel customer experience management company and Innoveo AG, Switzerland based InsurTech Cloud software provider.

Suresh will work closely with Avnish Mehra, Managing Director, Everstone Group to provide strategic and operational expertise in current and prospective investee companies worldwide. He will be based out of the US and split his time between U.S. and India.

“Suresh brings a wealth of global information technology expertise and experience. This partnership will strengthen our capability set on the sector as a whole, and specifically on our cross-border investment strategy, where we synergize with our infrastructure in India and South East Asia.” said Sameer Sain, CEO, The Everstone Group.

“Everstone Group has a global mindset with a strong understanding and expertise in the information technology sector. I am delighted to partner with them and look forward to working closely with the Everstone team globally.” said Suresh Vaswani, Senior Director, Everstone Group.

Suresh recently joined the board of Vodafone-Idea and is an external advisor to Bain Consulting. He has over three decades of leadership experience across global IT/technology majors which includes Dell, IBM and Wipro. Suresh is an alumnus of Indian Institute of Technology, Kharagpur with an MBA from Indian Institute of Management, Ahmedabad.

About Everstone Group
Everstone is a premier investment group focused on India and South East Asia, with assets in excess of US$5 billion across private equity, real estate, green infrastructure and venture capital. Everstone has a significant resource base across its seven offices in Singapore, India (Mumbai, Delhi, Bangalore), London, New York and Mauritius, comprising best-of-breed investing, operations and strategic resources with significant experience and skills. For more information, visit www.everstonecapital.com

Categories: People

KKR and Western Natural Resources Form Partnership to Pursue Oil and Gas Investments in Williston Basin

KKR

HOUSTON & OKLAHOMA CITY–(BUSINESS WIRE)–May 20, 2019– KKR, a leading global investment firm, and Western Natural Resources, LLC (“Western”) today announced a new partnership to acquire producing and undeveloped oil and gas assets in the Williston Basin.

The Williston Basin includes meaningful existing production and high quality, well-defined remaining drilling inventory well suited to KKR’s Energy Real Assets strategy, which prioritizes the generation of free cash flow and strong asset level returns in the upstream oil and gas sector.

Western’s CEO Heath Mireles and his team bring extensive operating experience to the partnership, having drilled, completed and operated thousands of wells over the Williston Basin’s long history. The Western team will leverage their collective experiences from time spent at large public operators as well as other private companies to acquire, manage and develop producing wells and drilling locations throughout the play.

Ben Conner, Director on KKR’s Energy Real Assets team, said, “The Williston continues to be a core area of focus for us as we see a significant opportunity to acquire high quality producing assets with attractive long-term value creation opportunities to be delivered through superior technical and operational execution. We have known Heath and members of his team for years and believe our partnership is well positioned to acquire and manage assets in the Williston for the long run.”

Heath Mireles, CEO of Western added, “We are excited to partner with KKR and bring what we feel is a differentiated view and business model to the basin to build a premier asset base focused on delivering strong risk-adjusted returns.”

KKR is making its investment in the partnership through funds affiliated with KKR’s Energy Real Assets strategy, which has invested approximately $4.0 billion in capital across 12 transactions since 2015 and manages a portfolio of oil and gas assets in numerous unconventional and conventional resource areas across the United States.

About KKR

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

About Western

Western is a private company focused on the acquisition and exploitation of upstream oil and gas assets. Headquartered in Oklahoma City, Oklahoma, its primary objective is to build and operate a large-scale portfolio of producing oil and gas wells and drilling locations in the Williston Basin. For additional information about Western, please visit Western’s website at www.wnrllc.com.

Source: KKR

Media:
Kristi Huller or Cara Major, + 1-212-750-8300
media@kkr.com

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TPG agrees to sell Cancer Treatment Services International to Varian Medical Systems

TPG Capital

Mumbai and San Francisco – May 20, 2019 – TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, announced today that it has signed a definitive agreement to sell Cancer Treatment Services International (CTSI) to Varian Medical Systems (NYSE: VAR) for $283 million. CTSI is part of Asia Healthcare Holdings (AHH), a healthcare operating platform founded by TPG Growth. The transaction is expected close approximately two weeks and is subject to customary closing conditions.

CTSI owns and operates an expanding network of cancer treatment facilities across India and South Asia, including several brands: the American Oncology Institute, CTSI’s flagship network comprised of multi-disciplinary radiation, medical, and surgical oncology focused cancer hospitals across South Asia; US-based CTSI Oncology Solutions, which provides cancer treatment planning services to healthcare providers worldwide; and AmPath, an integrated reference laboratory and pathology services provider in India. CTSI employs more than 1,500 people across its operations in India and the US, and fulfills a significant patient demand in the region for quality cancer treatment protocols.

“We invested in CTSI in 2016 with the belief that the company was in a strong position to address a substantial and growing need for quality cancer care in India. Today, CTSI is one of the largest and leading providers of high-quality oncology services across the country and broader South Asia,” said Matthew Hobart, Partner at TPG Growth. “CTSI’s growth story is an example of what we are trying to achieve through AHH, which is to provide dynamic single-specialty healthcare companies the resources and expertise to meaningfully build and scale their businesses. The transaction today marks an exciting step for CTSI and an important milestone in AHH’s evolution as one of the leading healthcare platforms in South Asia.”

When CTSI was first acquired by TPG Growth, it operated one facility in Hyderabad, India. In just three years, with AHH’s support and the onboarding of a highly talented management team, the company has grown to a network of 11 cancer hospitals with a pipeline of six more hospitals under execution. The success of CTSI builds on the track record of TPG’s healthcare investing franchise around the world, which has invested $14 billion of equity in the sector. More than 20 percent and approximately $3 billion of equity has been invested outside the US, across leading healthcare delivery networks including Parkway Holdings (Singapore), Healthscope (Australia), Manipal Health (India), Asiri Health (Sri Lanka), and United Family Healthcare (China).

“The genesis of AHH was to build single-specialty healthcare delivery businesses. Majority positions in these early stage entities give our team the unique opportunity to mold the future of these companies by giving them the right management teams, capitalization, and profitable growth trajectory. CTSI validates this unique approach to Indian healthcare,” said Vishal Bali, CEO of Asia Healthcare Holdings. “Leveraging TPG’s global healthcare franchise, we worked together to grow CTSI from sourcing to exit.”

AHH seeks to build a market-leading franchise in single-specialties across India and South Asia, and helps power companies through a single management team. AHH’s operation is unique to Indian healthcare and unparalleled in the region. Recently, AHH acquired Nova Fertility and its network of 20 IVF centers which, when combined with AHH’s existing network of 12 Women & Children hospitals under the Motherhood brand, will be India’s largest mother and child-focused healthcare platform in India.

TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $12.8 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $104 billion of assets under management. For more information, visit www.tpg.com.

About CTSI

CTSI is a provider of university-level, comprehensive treatment for cancer patients. Founded by physicians and businessmen with substantial experience in the development, operation and networking of cancer services, CTSI provides innovative and technologically advanced treatment solutions through an IT-based model that allows integration and centralization of core services. The company began international operations at its flagship cancer hospital in Hyderabad, India in 2013 and currently has several operational cancer centers and ongoing development projects. For more information, visit http://www.cancertreatmentservices.com.

 

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Gimv hands Benedenti back to its founders following growth trajectory in Belgian dental care

GIMV

17/05/2019 – 17:45 | Portfolio

At the end of 2015, Gimv acquired a minority stake in Benedenti, a group of multidisciplinary dental practices in Flanders, Belgium. Founded in 1985 as a private dental practice in Herentals by Rik Claes and his wife Griet Luyten, the practice has grown over the years first into a large group practice and then – with Gimv’s support – into a group with eight branches. In September 2018, the new state-of-the-art group practice and headquarters opened in Herentals. With 15 (treatment) chairs, this is one of the largest group practices in Flanders.

By developing multidisciplinary group practices, Benedenti responds to a range of challenges facing dental care in Flanders, such as a substantial number of practising dentists rapidly approaching retirement age, an insufficient influx of new graduates ready to enter professional practice and the emergence of dental hygienists. Other factors include the many technological and scientific developments in the field of dentistry and changing expectations of patients and dentists. Accessible, high-quality dental care is at the heart of the group’s expansion and the continuing professionalisation of the group practices.

Through Gimv’s involvement and driven by the current CEO and founder Rik Claes, extra resources have been put into forming partnerships with other dental practices, developing new group practices and continuing to invest in the latest technology. The number of employees has evolved from around 50 in 2015 to nearly 150 today and, through a team of 60 dentists, Benedenti Group is able to offer all dental specialisms.

Gimv announces today that it is selling back its stake to the founding Claes family.

Bart Diels, Head Gimv Health & Care, explains: “We’re glad that we’ve been able to support Benedenti and the Claes family with the continuing expansion and professionalisation of the group. Led by the family, Benedenti will continue to grow organically from a strong base, with a quality-focused culture, dedicated dentists & staff and a unique DNA.”

Rik Claes, CEO Benedenti Group, adds: “We look back with satisfaction on our partnership with Gimv. Thanks to their input, we’ve been able to expand and professionalise Benedenti further. Now we want to stand on our own two feet again. It’s our goal for Benedenti Group to remain in the hands of dentists in the long term, and to continue growing strongly into an outstanding, recognisable group for staff and patients.”

The yield on Benedenti over the entire investment period is in line with Gimv’s long-term average. No further financial details, however, are provided on the transaction itself.

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Montagu announces agreed sale of Covidence

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, announced today that it has agreed to sell Covidence to funds managed by EMK Capital LLP, a UK based private equity firm. Terms of the transaction are not being disclosed.

Covidence is the global technology leader in the niche professional market of miniature covert video and audio surveillance equipment. The business was founded in 2007 and is based in Rønde, Denmark. Montagu led the buyout of Covidence in 2015.

Over its four years of ownership, Montagu has helped the business to grow its top line through the development of new products and platforms, and by enhancing the go-to-market strategy. Covidence achieved double digit annual sales growth over the period from 2015 to 2018.

William Blair acted as financial advisor to Montagu and Covidence.

Completion is expected in May 2019.

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CPA Global and ipan/Delegate Group announce closing of merger and future outlook for the combined organization

Castik Capital

IP management and technology companies CPA Global® and ipan/Delegate Group today announce the closing of their previously announced merger.

The new organisation will deliver best-in-class technology and integrated software, and IP services solutions for corporations and law firms globally. These solutions will offer a unique customer experience and superior service supported by the global footprint of our combined team.

Simon Webster, CEO of the combined group, commented: “I am delighted to announce that we are now one company. The combination of our two companies and the great teams that work within each of them will accelerate our primary focus of delivering solutions that meet our customers’ most important intellectual property management needs.”

Patrice Durand, CEO of ipan/Delegate, commented: “We’re very excited to start working with the CPA Global teams on bringing our joint vision to life. We aim at driving innovation to the benefit of the IP industry, to improve interactions between our customers, partners and teams.”

About CPA Global

CPA Global is a trusted IP management company, leading by blending new technology with unrivalled expertise to better many of the world’s respected corporations and law firms. Delivered by an outstanding global team of 2400 people, our integrated offering sets the standard for reliability and secure, verified IP data. For our customers, we minimise risk and deliver actionable IP intelligence for better decision making. Put simply, we take the hassle out of IP management, liberating our customers to focus on what they do best.

About ipan/Delegate Group

ipan/Delegate Group was formed in 2018 through the combination of Intellectual Property Associates Network (ipan) and Delegate (formerly Valipat/Envoy). Headquartered in Brussels, Belgium and Munich, Germany with offices globally, the Group’s customer centric approach to optimizing process and innovative web enabled platforms has made it the solution of choice for IP owners and law firms across the world. The Group offers services for annuities and renewals, EP validations, IP foreign filing and IP Recordals and three Intellectual Property Management Software (IPMS), namely Unycom, IPSS and IPfolio.

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EQT sells Coromatic to E.ON

eqt

  • EQT sells Coromatic, a leading Nordic critical facility services and provider, to E.ON, a European leader within energy networks and state-of-the-art customer solutions
  • During EQT’s ownership, Coromatic has transformed into a leading Nordic provider of critical facility services and solutions, securing operations against disruptions 24/7, ultimately improving people’s lives and protecting the environment through optimized energy consumption
  • Coromatic has more than doubled revenues and the number employees, and nearly quadrupled EBITDA as a result of strong organic growth and a number of strategic add-on acquisitions

EQT Expansion Capital II (“EQT”) has entered into a definitive agreement to sell Coromatic Group (“Coromatic” or the “Company”) to E.ON. Coromatic secures access to power and data communication by providing services and solutions to critical facilities, such as data centers, airports, hospitals, transportation and connected workplaces.

During EQT’s ownership, Coromatic has transformed from a Swedish-focused data center solutions provider into a service-led Nordic leader. Through the most extensive pan-Nordic critical facilities service network of more than 200 highly qualified technicians, Coromatic secures operations 24/7, contributing to sustainable cities and communities.

An increase in frequency of disruption events, such as power outages or disruptions in digital infrastructure, coupled with a rising cost of downtime, has led to a surge in demand for Coromatic’s unique competencies. The Company’s development has relied on strong organic growth and an ambitious consolidation strategy, having executed eight add-on acquisitions across the Nordics. Today, Coromatic supports over 5,000 customers, including 60% of the Nordic top 100 companies, out of 17 locations.

Erik Bertman, CEO of Coromatic, said: “Together with EQT, Coromatic has transformed into a Nordic leader, through geographical expansion as well as building competencies and widening the offering. Most importantly, this has allowed us to serve our customers better and faster. We now look forward to continue our ambitious growth journey together with E.ON, pursuing a bold ambition of becoming the frontrunner of the decentralized energy market in Europe. We see this as an ideal fit with a common purpose of securing operations 24/7 through energy efficient solutions and thereby improving people’s lives.”

“Acquiring Coromatic is an important step towards our strategic ambition of becoming a leading energy solutions company. As artificial intelligence, smart homes and buildings become increasingly prevalent, the need for 24/7 uninterrupted power supply will continue to grow. I see a great potential for both E.ON and Coromatic to jointly capitalize on this trend”, says Marc Hoffmann, CEO E.ON Sverige.

Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Expansion Capital II, added: “EQT is impressed with Coromatic’s growth journey, but more importantly, its contribution to society in securing critical infrastructure. This aligns perfectly with EQT’s investment approach and focus on sustainability and positive social impact. We are convinced that E.ON will be a great owner of Coromatic and together they will become a trusted partner to businesses looking to ensure their operations 24/7.”

The transaction is subject to approval from the relevant authorities and is expected to close in late Q2 or Q3 2019.

Nordea acted as financial advisor and Roschier as legal advisor to EQT.

Contact
Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Expansion Capital II
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. 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 E.ON
E.ON Sverige is part of the international E.ON-group, one of the world’s largest investor owned energy companies. E.ON has about 2 200 coworkers in Sweden.

More info: www.eon.com/en

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Consortium led by EQT and ADIA enters exclusive negotiations to acquire skincare company Nestlé Skin Health

eqt

  • EQT and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) have partnered with a wholly owned subsidiary of the Public Sector Pension Investment Board (“PSP Investments”) and other renowned institutional investors
  • The consortium has entered into exclusive negotiations to acquire Nestlé Skin Health, a leading global skincare company
  • The new owners plan to support Nestlé Skin Health in its next period of growth and innovation by leveraging EQT’s strong healthcare expertise, local angles and industrial network

A consortium comprising EQT VIII fund (“EQT” or “EQT VIII”), Luxinva (a wholly-owned subsidiary of ADIA), PSP Investments and other renowned institutional investors, has entered into exclusive negotiations to acquire Nestlé Skin Health (NSH), a leading global provider of skin health products, from Nestlé S.A. (“Nestlé”) for an enterprise value of CHF 10.2 billion.

Founded in 1981 as Galderma and operating as a wholly owned subsidiary of Nestlé since 2014, Nestlé Skin Health is a leading skincare company offering a range of medical and consumer skin health solutions through three business units: aesthetics and prescription, both under the Galderma brand, and consumer health. The Group has a combined revenue of CHF 2.8 billion and employs more than 5,000 people worldwide. During the ownership of Nestlé, Nestlé Skin Health has operated as an independent business unit under the leadership of Stuart Raetzman, executing a clearly defined strategic agenda around growth and operational excellence.

The consortium around EQT VIII intends to support Nestlé Skin Health in its next period of growth and innovation, leveraging EQT’s long-term experience and industrial network. The strategy will build on the current direction taken by NSH’s management and focuses on accelerating growth further by building on the company’s strong market position and brands.

Priorities will be 1) to invest in commercial excellence and drive innovation in collaboration with health care professionals in the Aesthetics unit; 2) to continue investments in R&D and business development to strengthen the Prescription division and leverage its best-in-class commercial platform; 3) to increase presence in the US, launch new products and focus on international expansion in the consumer health business. The company will keep its headquarters in Switzerland and will be rebranded as Galderma.

The investment is in line with EQT’s thematic approach of investing with the trend in businesses with positive societal impact, advancing the progress of one or more of the United Nations Sustainable Development Goals (“SDG”). Nestlé Skin Health contributes to society by enhancing the quality of people’s lives and by contributing to a healthier future through science-based solutions for skin health. The consortium will support the Company to stay in the forefront of sustainability.

“We are impressed by Nestlé Skin Health’s management team and its achievement in positioning the company as a leading player across its three business units,” said Michael Bauer, Global Head of Healthcare at EQT Partners and Investment Advisor to EQT VIII and continues:

“The heritage of the company as a focused skincare company with a comprehensive product portfolio, exceptionally strong brands and high customer loyalty is unique. This growth investment opportunity fits well to EQT’s DNA of driving growth and making strong companies even stronger. We look forward to supporting the management team and employees of NSH in its next phase of growth and innovation by further promoting innovative skin health products that improve health and well-being.”

Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at ADIA, said: “NSH is a leading global business with a well-balanced portfolio of dermatology products, targeting sizeable end-markets with strong underlying growth. This proposed transaction aligns with our approach of making strategic investments alongside proven partners to help strong, innovative businesses grow.”

Przemek Obloj, Managing Director at PSP Investments, concludes: “We are delighted to be partnering with EQT in this proposed landmark transaction and to support their compelling vision for continued growth of this unique portfolio of brands.”

The proposed transaction is subject to employee consultations and customary regulatory approvals.

Rothschild & Co and PricewaterhouseCoopers LLP acted as financial advisors to the consortium of EQT VIII, ADIA and PSP Investments. Kirkland & Ellis International LLP acted as legal advisor.


Contacts
Michael Bauer, Partner at EQT Partners, Investment Advisor to EQT VIII, +41 44 266 68 00
EQT Press office, +46 8 506 55 334


About Nestlé Skin Health
Nestlé Skin Health provides science-based solutions to meet the specific skin health needs of healthcare professionals, patients and consumers. It offers a range of leading medical and consumer brands through three complementary business units in prescription, aesthetics and consumer care. Headquartered in Lausanne, Switzerland, Nestlé Skin Health employs more than 5,000 people across 40 countries.

More info: www.nestleskinhealth.com 

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. 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 ADIA
Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equity Department invests in private equity and credit products globally, often alongside external partners, and through externally managed primary and secondary funds. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.

More info: https://www.adia.ae 

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with C$ 158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit www.investpsp.com or follow us on Twitter and LinkedIn.

More info: www.investpsp.com

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WPP to open new campus in Paris

Ardian

PARIS, May 16 2019 – WPP is to create a modern, new campus for its agencies in Paris, due to open in 2021.

The latest in WPP’s ambitious programme of investments bringing agencies together under one roof will be located at 145-149 rue Anatole France in Levallois-Perret. The land was once the home of the Clément-Bayard factory, bought by Citroën in the early 1920s to manufacture the 2CV.
Split over eight floors, the world-class workspace will be designed to encourage greater creativity and closer collaboration and give clients easier access to WPP’s talent and expertise. The campus will include a double-height auditorium, co-working areas, restaurants, two gardens and a rooftop terrace with 360° views of the city.
WPP has agreed a 12-year lease with owners Ardian and LaSalle Investment Management. The 28,000m2 building is currently undergoing a significant restructuring programme led by Baumschlager Eberle Architecture, in partnership with BDG architecture + design, a WPP company, who will also be designing the interior office space.
In common with all new WPP campus buildings, sustainability will be a key focus and the building is targeting a BREEAM rating of Excellent.
Paris is the latest major WPP co-location in Europe. It recently opened its Amsteldok campus in Amsterdam, while Madrid and Milan are due to open later in 2019.

Mark Read, CEO of WPP, said: “Our campus strategy is about creating fantastic, dynamic workspaces and social areas which inspire our people to do their best, most creative work. Providing world-class working environments encourages innovation, makes it easier for people to work together, and delivers the best integrated offer to our clients.”
Mathieu Morgensztern, WPP’s France Country Manager, said: “This new campus embodies our ambition for WPP in France: to create the future of collaboration between our agencies and our clients. Open, fluid, inspiring, this new venue will be dedicated to the creativity and well-being of WPP’s talent.”
Stéphanie Bensimon, Managing Director of Ardian Real Estate, added: “We are pleased to welcome WPP into this building, the first investment in France from our Real Estate fund. Sustainability is at the heart of every part of the redevelopment project and we are confident that this new office will provide WPP with an inspiring space to work, meet and collaborate.”
Beverley Shadbolt, Country Manager for France at LaSalle, says: “This is an outstanding office space, redeveloped to the highest quality. Its strategic location and size are perfectly suited to large occupiers and as such I am delighted that WPP has chosen this as its new campus.”

Ardian, LaSalle and WPP were advised by JLL as Project Manager.

About WPP

WPP is a creative transformation company. We build better futures for our clients through an integrated offer of communications, experience, commerce and technology.
www.wpp.com

About Ardian

Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. 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 LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately US$65 billion of private and public equity and private debt investments under management. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc., one of the world’s largest real estate companies.
www.lasalle.com

PRESS CONTACTS

Niken Wresniwiro, WPP
+44 (0)20 7282 4600 / +44 (0)7876 005 489
niken.wresniwiro@wpp.com
Ardian
Image 7
Anne-Charlotte Créach/ Simon Zaks
accreach@image7.fr, szaks@image7.fr
Tel.: 01 53 70 74 70
LaSalle Investment Management
Sophie Lhuillier, Steele & Holt
sophie@steeleandholt.com
Tel.: +33 6 80 95 63 88
Charlotte Forty de Lamarre, Steele & Holt
   charlotte@steeleandholt.com
Tel.: +33 7 72 32 16 74

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