Monthly Archives: May 2019

SnapAV and Control4 Announce Merger to Transform the Rapidly Growing Smart Home Solutions Industry

Hellman & Friedman

CHARLOTTE, N.C. & SALT LAKE CITY, UTAH (BUSINESS WIRE)

Two industry leaders combine to empower professional integrators with better service and better solutions to more effectively serve the growing demand for connected homes and businesses

Control4 shareholders to receive $23.91 per share in cash

Acquisition expected to close in second half of 2019

SnapAV, a leading manufacturer and primary source of A/V, surveillance, networking and remote management products for professional integrators, and Control4 Corporation (NASDAQ: CTRL) (“Control4”), a leading global provider of smart home solutions, today announced that they have entered into a definitive merger agreement (the “Agreement”) whereby SnapAV will acquire Control4 in an all-cash transaction for $23.91 per share in cash, representing an aggregate value of approximately $680 million.

“The combination of Control4 and SnapAV is transformative for the smart home industry”

This highly complementary combination will leverage the increased resources of the two companies to provide integrators with a true one-stop shop, offering a complete product portfolio of custom smart-home, control and automation solutions. Together, SnapAV and Control4 will drive increased innovation, simplified integration and compelling solutions that meet the demands of today’s expanding smart home industry. With leading technology solutions, a broad geographic footprint and exceptional service organizations, the combined company is poised to provide integrators with better opportunities to serve customers in the connected home and business markets.

Control4’s Board of Directors has unanimously approved and recommended that stockholders vote in favor of the transaction. Under the terms of the Agreement, SnapAV will acquire all the outstanding common stock of Control4 for $23.91 per share in cash. The purchase price represents a premium of approximately 40% over Control4’s closing price on May 8, 2019, the last trading day prior to execution of the Agreement, and a premium of approximately 38% over Control4’s 30-trading day weighted average share price ended on May 8, 2019. Private equity investment firm Hellman & Friedman—SnapAV’s majority shareholder since 2017—will invest additional equity as part of the transaction and be the majority shareholder of the combined company.

As award-winning industry leaders renowned for quality, service and continuous innovation, SnapAV and Control4 share a deep understanding of and commitment to the custom installation industry and are dedicated to making professional integrators more successful. By merging, SnapAV and Control4 will combine the talent of their collective 1,200+ employees, market-leading solutions, exceptional interoperability and channel platform, dealer-first programs, global distribution and financial resources to deliver value in ways no one else can—enabling integrators to serve their customers better and grow their businesses.

“We have pursued the mission of making our integrators’ lives easier since SnapAV was founded,” said John Heyman, chief executive officer of SnapAV. “Dealers will be able to buy leading solutions, access the best service technicians in the industry and experience simpler installation through purchasing, support and seamless product integration.

“Over the past several years, we have accomplished a number of goals we felt were critical to the success of integrators and the continued growth of SnapAV—including offering local delivery and pick-up through the acquisition of distribution sites around the country and expanding the suite of products available to support integrators. Merging with Control4 and its outstanding team will help us execute on our third critical goal: delivering the industry’s leading automation platform that integrates with the numerous technologies and products required to create customized smart home experiences homeowners desire. Control4 offers a leading automation platform, along with key smart home solutions in the audio, video, lighting, security and networking categories. We are especially excited by the fact that both of our companies have similarly strong “customer first” corporate cultures centered on quality, service and innovation, and we look forward to creating new and exciting opportunities for the teams at both Control4 and SnapAV. In sum, the two companies will be better together, with better service, better solutions and better opportunities for integrators and employees.”

“We believe today’s announced transaction delivers compelling and immediate value to Control4 shareholders in the form of a significant share price premium, and we are excited to have the opportunity to join with the SnapAV team,” said Martin Plaehn, chairman and chief executive officer of Control4. “Together with SnapAV, we will be able to invest even more in innovation, bring together and build upon the very best of our combined capabilities, and do so with improved reliability, responsiveness, security, and privacy for consumers. Today’s announcement will enable us to better serve the expanding smart home market, making the lives of integrators easier and their businesses more effective and efficient.”

Together the combined company will bring a deep understanding of the industry and an unmatched passion for providing best-in-class solutions and service with one objective: create better experiences for consumers and the integrators who serve them. Product integration, remote management, expert service technicians, product simplification, training and timely logistical capabilities will ensure every install is easier, more reliable and delivers fantastic experiences to consumers where they live and work.

“The combination of Control4 and SnapAV is transformative for the smart home industry,” said Erik Ragatz, Partner at Hellman & Friedman and chairman of the Board of Directors of SnapAV. “The increased resources of the combined company will enable it to invest more to drive innovation and deliver best-in-class features, functionality and products. This combination will also allow us to support integrators more effectively than ever before in pursuit of our joint goal of bringing the promise of the connected home to life.”

More than 1,200 employees of the combined company will be led by SnapAV CEO John Heyman and an executive team made up of leaders from both SnapAV and Control4. Control4 CEO Martin Plaehn will join the Board of Directors of the combined company, helping to ensure a smooth integration of the businesses. The merger reflects the value created by bringing together two industry-leading teams of employees who, united, can better serve the needs of the growing smart home segment. The company will share joint headquarters in Charlotte, North Carolina, and Salt Lake City, Utah, with offices and local facilities around the globe.

Transaction Details
As part of the Agreement, Control4’s Board of Directors, with the assistance of its advisors, will conduct a 30-day “go-shop” process following the date of the execution of the definitive agreement, during which it will actively initiate, solicit, encourage and evaluate alternative acquisition proposals, and potentially enter into negotiations with any parties that offer an alternative acquisition proposal. Control4 will have the right to terminate the merger agreement to accept a superior proposal, subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Control4 does not intend to disclose developments with respect to the solicitation process unless and until its Board of Directors makes a determination requiring further disclosure.

Subject to the go-shop, a special meeting of Control4’s shareholders will be held as soon as practicable following the filing of the definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to shareholders.

The transaction, which is expected to be completed in the second half of 2019, is subject to the satisfaction of customary closing conditions, including regulatory approvals and approval by Control4 shareholders.

Advisors
In connection with the transaction, Simpson Thacher & Bartlett LLP is serving as legal advisor to SnapAV. Raymond James & Associates, Inc. is serving as financial advisor to Control4 and Goodwin Procter LLP is serving as legal advisor.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Control4’s business and financial outlook and the structure, timing and completion of the proposed transaction. All statements other than statements of historical fact contained in this press release are forward-looking statements. These forward-looking statements are made as of the date they were first issued, and were based on the then-current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Control4’s control. Control4’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) risks associated with Control4’s ability to obtain the stockholder approval required to consummate the proposed merger transaction and the timing of the closing of the proposed merger transaction, including the risks that a condition to closing would not be satisfied within the expected timeframe or at all or that the closing of the proposed merger transaction will not occur; (ii) the outcome of any legal proceedings that may be instituted against the parties and others related to the merger agreement; (iii) unanticipated difficulties or expenditures relating to the proposed merger transaction, the response of business partners and competitors to the announcement of the proposed merger transaction, and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed merger transaction; and (iv) those risks detailed in Control4’s most recent Annual Report on Form 10-K, and subsequent filings with the SEC in connection with the proposed transaction, as well as other reports and documents that may be filed by Control4 from time to time with the SEC. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent Control4’s views as of the date of this press release. Control4 anticipates that subsequent events and developments may cause its views to change. Control4 has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These forward-looking statements should not be relied upon as representing Control4’s views as of any date subsequent to the date of this press release.

Additional Information and Where to Find It
This press release relates to the proposed merger transaction involving Control4 and may be deemed to be solicitation material in respect of the proposed merger transaction involving Control4. In connection with the proposed merger transaction, Control4 will file relevant materials with the SEC, including a proxy statement on Schedule 14A (the “Proxy Statement”). This press release is not a substitute for the Proxy Statement or for any other document that Control4 may file with the SEC and or send to Control4’s stockholders in connection with the proposed merger transaction. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF CONTROL4 ARE URGED TO READ THE PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CONTROL4, THE PROPOSED MERGER TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents filed by Control4 with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed by Control4 with the SEC will also be available free of charge on Control4’s website at www.Control4.com, or by contacting Control4’s Investor Relations contact at the Blueshirt Group, LLC at (415) 217-2632. Control4 and its directors and certain of its executive officers may be considered participants in the solicitation of proxies from Control4’s stockholders with respect to the proposed merger transaction under the rules of the SEC. Information about the directors and executive officers of Control4 is set forth in its Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 11, 2019, its proxy statement for its 2019 annual meeting of stockholders, which was filed with the SEC on March 20, 2019 and in subsequent documents filed with the SEC. Additional information regarding the persons who may be deemed participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of this document as described above.

About SnapAV
Established in 2005 and based in Charlotte, North Carolina, SnapAV is a manufacturer and exclusive source of more than 2,700 installation-friendly audio, video, networking, power and surveillance products for residential and commercial A/V integrators. SnapAV empowers integrators to run more efficient businesses by providing high quality products at attractive prices, supported by best-in-class online ordering and award-winning customer service. Additional information about SnapAV and its product brands can be found at www.SnapAV.com.

About Control4
Control4 [NASDAQ: CTRL] is a leading global provider of automation and networking systems for homes and businesses, offering personalized control of lighting, music, video, comfort, security, communications, and more into a unified smart home system that enhances the daily lives of its consumers. Control4 unlocks the potential of connected devices, making networks more robust, entertainment systems easier to use, homes more comfortable and energy efficient, and provides families more peace of mind. Today, every home and business needs automation horsepower and a high-performance network to manage the increasing number of connected devices. The Control4 platform interoperates with more than 13,000 third-party consumer electronics products, ensuring an ever-expanding ecosystem of devices will work together. Control4 is now available in over 100 countries. Leveraging a professional channel that includes over 5,900 custom integrators, retailers, and distributors authorized to sell Control4 products, Pakedge networking solutions and Triad speakers, Control4 is delivering intelligent solutions for consumers, major consumer electronics companies, hotels, and businesses around the world.

About Hellman & Friedman
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, Hellman & Friedman has raised over $50 billion of committed capital. The firm focuses on investing in outstanding business franchises and serving as a value-added partner to management in select industries including software, financial services, business & information services, healthcare, internet & media, retail & consumer, and industrials & energy. For more information, please visit www.hf.com.

Contacts
Dana Gorman
Abernathy MacGregor
dtg@abmac.com
(212) 371-5999

James Bourne
Abernathy MacGregor
jab@abmac.com
(213) 360-6550

William Braun
Abernathy MacGregor
whb@abmac.com
(212) 371-5999

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Funds advised by Apax Partners to acquire Baltic Classifieds Group

Apax

9 May 2019: Funds advised by Apax Partners (the “Apax Funds”) today announced a definitive agreement to acquire Baltic Classifieds Group (“BCG”), a portfolio of leading online classified advertising platforms in the Baltics. The stake will be acquired from Media Investments & Holding OÜ, a Baltic-based media business. The transaction is expected to close by July 2019, subject to regulatory approvals. Financial terms were not disclosed.

BCG operates Autoplius.lt, Aruodas.lt, Skelbiu.lt, CVBankas.lt, KV.ee, City24.ee, City24.lv, Osta.ee and Soov.ee, leading online classifieds platforms for automotive, real estate, jobs, and general merchandise. BCG’s portals are some of the most visited websites in their respective countries, generating more than 50m monthly visits in aggregate.

The Apax Funds have a long and successful track record investing in digital marketplace businesses. The investment in Baltic Classifieds Group will be the ninth in this space and the first in the Baltic region. Previous investments include Auto Trader in the UK, Idealista in Spain, SoYoung and SouFun in China and Trade Me in New Zealand.

Tom Hall, Partner at Apax Partners, said: “Over more than a decade, Justinas, the CEO, Simonas, the COO, and their long-standing team have built a collection of market-leading businesses with strong brands. The digital marketplaces they operate promote trust, fairness and efficiency. We are excited to introduce the BCG team to our wide network of classifieds businesses and executives around the world. We look forward to investing in BCG further, with the support of our Operational Excellence Practice, to enhance the great value these marketplaces provide for advertisers and consumers.

“We are also very pleased for the Apax Funds to invest in the Baltics for the first time. We are confident in the growth prospects of the region and have been very impressed with its business friendliness, pragmatism and entrepreneurial culture.”

Justinas Simkus, Chief Executive Officer of BCG, said: “We are proud to have developed a market-leading position. This is testament to our team and to the support we have had from our exiting shareholder. We look forward to benefitting from the considerable experience the Apax team has in digital marketplaces.”

About Baltic Classifieds Group

Baltic Classifieds Group is a portfolio of leading online classified advertising platforms in the Baltics, specialising in five key segments: automotive, real estate, jobs, generalist and ecommerce. The company operates in Lithuania, its largest market, through Diginet LTU. For more information see: www.diginet.lt

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts:

For Baltic Classifieds Group

Justinas Simkus  |  info@diginet.lt

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors:

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

Categories: News

KKR Completes Acquisition of MYOB

KKR

SYDNEY–(BUSINESS WIRE)–May 8, 2019– Global investment firm KKR and leading Australian online business management company MYOB Group Limited (“MYOB” or the “Company”) today announced the completion of the previously announced acquisition of MYOB by KKR.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190507006190/en/

David Lang, Member at KKR, said, “MYOB is a true leader in the growing and innovative business solutions software segment. We are excited to partner with and support MYOB as it accelerates the company’s growth plans in Australia and New Zealand while also exploring the significant opportunities it has to offer its customers new products and solutions.”

Tim Reed, CEO of MYOB, said, “The past year has been an eventful one for MYOB in which we accelerated our investment in the MYOB Platform and fast-tracked its delivery to our customers. This rollout helped us to achieve even greater online subscriber growth and propelled us to a leading position in Australia and New Zealand’s online accounting market. Now with KKR’s support and expertise, we are even better positioned for future growth. I am confident the business will continue to thrive well into the future, and am excited to embark on MYOB’s next chapter.”

MYOB entered into a Scheme Implementation Agreement with KKR on December 23, 2018, under which KKR proposed to acquire all the MYOB shares it did not already own. MYOB shareholders voted in favour of the Scheme on April 17, 2019, and implementation took effect today.

KKR’s investment in MYOB was made from its flagship Asian Fund III.

****

About MYOB

MYOB Group Ltd is a leading provider of online business management solutions. It makes business life easier for approximately 1.2 million businesses and accountants across Australia and New Zealand by simplifying accounting, payroll, tax, practice management, CRM, job costing, inventory and more. MYOB operates across three core segments – Clients and Partners (business solutions to SMEs and Advisers); Enterprise Solutions (larger businesses) and Payment Solutions. It provides ongoing support through client service channels including a network of over 40,000 accountants, bookkeepers and other consultants. It is committed to ongoing innovation, particularly through its Connected Practice Strategy and through the development of the MYOB Platform. For more information, visit http://investors.myob.com.au/Investors or follow @MYOB on Twitter.

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.

Source: KKR

Media:
For KKR
KKR Asia
Anita Davis
+852 3602-7335
Anita.Davis@KKR.com

KKR Americas
Kristi Huller / Cara Major
+1 212-750-8300
Media@KKR.com

Newgate Communications (For KKR Australia)
Miche Paterson
+61 400 353 762
miche.paterson@newgatecomms.com.au

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Health IQ Secures $55 Million In Series D Funding to Expand Its Special Rate Life Insurance for People Who Live a Healthy Lifestyle

Aquila Capital

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–May 8, 2019–Health IQ Insurance Services (Health IQ), the nation’s fastest growing life insurance company, today announced it has secured $55 million in Series D funding led by Greenspring Associates, Aquiline Technology Growth, Hanwha Asset Management, as well as additional financing from existing investors such as Andreesen Horowitz and others. Health IQ’s mission is to improve the world’s health by rewarding runners, cyclists, weightlifters, well-managed diabetics, and other Americans living a healthy lifestyle with lower rates. Since pioneering the use of science and data to measure the impact of healthy lifestyles, Health IQ has experienced rapid growth.

“Consumers are responding well to our lower rates. Our company has reached $21 billion in client coverage and is adding an additional $2 billion every few weeks. Since our last funding announcement in 2017 our coverage amount has tripled. Health IQ has grown from seven billion to 21 billion in coverage,” said Health IQ CEO Munjal Shah.

Since first selling policies in 2016, Health IQ has been able to use its science and proprietary data to increase the discount that consumers get when buying life insurance. In the last three years, the company’s savings for clients has increased from 4% up to 41%. Today the average life insurance client that works with Health IQ will save $4,289 with rate savings and up to $6,279 through underwriting savings over the course of a 30-year policy.

“At Greenspring, we’re always looking for market leaders and companies that demonstrate momentum. That’s why we’re investing in Health IQ, one of the nation’s fastest growing new life insurance companies. We’re excited to be part of Health IQ’s growth going forward,” said Jim Lim at Greenspring Associates, an $8.8 billion firm that supports promising companies throughout their lifecycles.

Over the last three years Health IQ has further innovated by offering new products like special rate life insurance for well managed diabetics, special rate disability insurance, and other products.

“What drew us to Health IQ was its data advantage. This is an insurance company that is using science and data to more accurately price insurance for its clients. We believe the next generation of insurance will be this form of accurate pricing. We call this new trend ‘Precision Insurance,’” said Max Chee of Aquiline Technology Growth (ATG), which is the early and growth stage fund managed by Aquiline Capital Partners, a New York and London-based private equity firm investing in the financial services and technology sectors.

Mr. Chee added, “As focused insurance technology investors, we see Health IQ as highly differentiated from other Insurtech companies. In canvassing the market, we found Health IQ’s innovation in bringing fair prices to consumers highly compelling. Aquiline is excited to support Health IQ and utilize our insurance industry expertise to help the company further innovate and expand as they continue their mission to offer unique products to health-conscious individuals.”

To date Health IQ has raised $139.5 million from a diverse and respected group of investors: Charles River Ventures, First Round Capital, Greylock Partners, Menlo Ventures, Ribbit Capital, Felicis Ventures, Foundation Capital, Andreessen Horowitz, Greenspring Associates, Aquiline Technology Growth, and others.

ABOUT HEALTH IQ

Health IQ is an insurance company on a mission to improve the world’s health by rewarding runners, cyclists, weightlifters, swimmers, yogis, well-managed diabetics, and other Americans living a healthy lifestyle. Health IQ gives these individuals credit for their healthy lifestyle through lower rates. Since pioneering the use of science and data to measure the impact of healthy lifestyles, Health IQ has become the fastest growing life insurance company in the nation. Health IQ has grown from zero to $21 billion in coverage in the last three years. The company was founded for the health conscious by the health conscious. The company’s three founders were each touched by a personal health challenge and overcame them by adopting a healthier lifestyle. The founders wanted to inspire and encourage others to embrace a healthy lifestyle by giving them financial rewards. For more information visit www.healthiq.com.

ABOUT GREENSPRING ASSOCIATES

Greenspring Associates was founded in 2000 to focus solely on venture capital investments. Through a comprehensive platform, the Firm serves as a lifecycle partner for entrepreneurs and fund managers, investing across multiple stages, sectors and geographies. An established investor in financial and insurance technology companies including Bright Health, MoneyLion, Branch International and YieldStreet, Greenspring Associates manages approximately $8.8 billion in committed capital across a variety of specialized venture strategies. For more information on Greenspring Associates and a full list of its prior investments, please visit its website at www.greenspringassociates.com.

ABOUT AQUILINE TECHNOLOGY GROWTH

Aquiline Technology Growth (ATG) seeks to invest in early- and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit www.atgvc.com.

ABOUT HANWHA ASSET MANAGEMENT

Hanwha Asset Management is a global asset management company with US$80B in AUM and has been investing in growth stage deals globally. It has backed notable startups such as Zymergen, N26, Raisin, Yanolja, and Grab.

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Ampersand Capital Partners completes Growth Equity Investment in Transplantation Diagnostic firm GenDx

Utrecht, Netherlands – May 8, 2019 – Genome Diagnostics B.V. (“GenDx”) announced today that Ampersand Capital Partners has completed a minority, growth equity investment in the company. Wietse Mulder, PhD., remains the majority shareholder and CEO of GenDx. The partnership between Ampersand and GenDx aims to foster sustainable growth, both organically and through M&A activities in the molecular diagnostic products and services market.

GenDx is a leading provider of molecular diagnostic kits and analysis software for transplantation and companion diagnostics. Dr. Mulder commented: “GenDx has been successfully organized as a fully independent organization for almost fifteen years. We are delighted to partner with Ampersand and together continue to live by our vision of ‘meaningful entrepreneurship’ by offering the best products, education, and services to the transplantation community worldwide.”

David Parker, a General Partner at Ampersand, added: “Given Ampersand’s prior experience in the transplantation and NGS markets, we were highly impressed by the differentiated product and service offering of GenDx. We are excited to partner with Dr. Mulder and the GenDx team to build on the company’s long history of profitable growth.”

In connection with this transaction, David Parker has joined the GenDx Board of directors along with Ampersand Operating Partner Mike Evans, PhD. They join three founders on the GenDx Board: Dr. Mulder, Raoul Linschoten, LLM (Chairman), and Oscar Schoots, PhD. The board will be supported by non-director advisors Larry McCarthy, PhD and Frank Witney, PhD., both seasoned entrepreneurs and executives who serve as Operating Partners at Ampersand.

About GenDx

Genome Diagnostics B.V., also known as GenDx, is a Dutch company specialized in Molecular Diagnostics, focused on development, production and sales of innovative assays and analysis software for transplantation and companion diagnostics.

GenDx specializes in HLA sequencing-based typing strategies and offers reagents and software for both Sanger and NGS approaches. In 2013, GenDx started developing and distributing products for chimerism monitoring by qPCR. Thanks to its extensive in-house expertise, GenDx also offers custom laboratory services for basic and clinical research organizations. GenDx organizes dedicated HLA SBT and chimerism monitoring training courses worldwide on a regular basis for lab directors, lab managers, scientists and technicians working in tissue typing laboratories, blood banks, and donor registries.

GenDx is based at the University Science Park in Utrecht, the Netherlands and was founded in 2005 by Erik Rozemuller PhD, Wietse Mulder PhD and UMC Utrecht Holdings B.V. represented by Oscar Schoots PhD and Raoul Linschoten LLM. Further information about GenDx can be found at www.GenDx.com.

GenDx has also an office near O’Hare airport, Chicago, IL (USA).

About High-Resolution HLA Typing

The Human Leukocyte Antigen (HLA) system consists of a large family of highly variable genes and allelic variants which form the basis of the human immunological defence system. In stem cell transplantation matching patient and donor is vital as small differences between HLA alleles may have serious effects on the outcome of transplantation. High-resolution typing is a technology which enables determination of even the smallest variations in nucleotides, making it ideal for stem cell transplantation purposes.

Until recently, Sanger sequencing-based HLA typing was considered as the golden standard for high-resolution typing. GenDx offers SBTexcellerator® and AlleleSEQR® together with the software package SBTengine® for carrying out Sanger based sequencing HLA typing. Next Generation Sequencing has become the new golden standard for HLA typing, as data analysis using NGS is becoming easier and faster to interpret and this technique is suitable for higher throughput. GenDx offers NGSgo® reagent line together with the software package NGSengine® for carrying out NGS based HLA typing.

About Chimerism Monitoring

After stem cell or bone marrow transplantation, both donor and recipient cells can be detected in the recipient’s blood (chimeric status). Monitoring the chimeric status allows for the detection of recipient cells returning over time, which can possibly lead to a relapse state. GenDx has been offering KMRtype/KMRtrack reagents since 2013.. Currently, the CE-IVD marked set contains 39 assays based on bi-allelic insertions/deletions and SNPs. Software package KMRengine generates a laboratory protocol, qPCR machine sample setup sheet, and data tracking for each recipient/donor couple over time.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.

GenDx Netherlands
Yalelaan 48
3584 CM Utrecht
Office: +31 30 252 3799
E-mail: info@gendx.com

Contact GenDx
Wietse Mulder PhD
CEO
Email: w.mulder@gendx.com
Phone: +31 30 252 3799

NGSgo®, NGSengine®, KMRtype®, KMRtrack® and KMRengine® are registered trademarks of GenDx. GenDx is a registered trade name of Genome Diagnostics B.V.

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Baird Capital Announces Sale of Hopebridge, Retains Minority Stake

Baird Capital

CHICAGO – May 8, 2019 – Baird Capital, the direct private investment arm of Baird, recently announced the sale of Hopebridge LLC (Hopebridge) to Arsenal Capital Partners. Baird Capital will retain a minority stake in the company. The financial terms of the deal were not disclosed.

Headquartered in Indianapolis, Hopebridge was founded in 2005 to serve the growing need for autism treatment services and to improve the lives of affected children and families. The company is committed to providing personalized outpatient ABA, occupational, speech, and feeding therapies for children touched by autism spectrum disorder and behavioral, physical, social, communication and sensory challenges. Hopebridge continues to open state-of-the-art autism therapy centers in new communities to reach patients and families who need services. With locations in Georgia, Indiana, Kentucky and Ohio, Hopebridge expects to operate 41 centers by June 2019, compared to 14 at the time of Baird’s initial 2017 investment.

“Baird Capital is fortunate to have worked with Hopebridge and its talented leadership team, and we are pleased to continue supporting the company’s future growth,” said Mike Bernstein, Partner, Baird Capital.

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Incorporated. For more information, please visit BairdCapital.com.

For additional information, contact:
Baird Public Relations 
414-765-7250

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Zayo Announces Definitive Agreement to be acquired by Digital Colony and EQT

eqt

Zayo Shareholders to Receive $35.00 per share in Cash
Transaction Valued at $14.3 Billion
Transaction would result in Zayo becoming a private company
World-class network assets well positioned to meet connectivity-driven demand in key North
America and Europe markets
Global investment firms, EQT and Digital Colony, uniquely positioned to support Zayo in
growing its business

BOULDER, Colo. – May 8, 2019 – Zayo Group Holdings, Inc. (“Zayo” or “the Company”)
(NYSE: ZAYO), which provides mission-critical bandwidth to the world’s most impactful
companies, today announced that it has signed a definitive merger agreement to be acquired by
affiliates of Digital Colony Partners (“Digital Colony”) and the EQT Infrastructure IV fund (“EQT”
or “EQT Infrastructure”). The transaction would result in Zayo transitioning from a public
company to a private company. Under the new ownership, the Zayo team would continue to
execute the Company’s strategy and remain headquartered in Boulder, Colorado.
Under the terms of the agreement, which was unanimously approved by Zayo’s Board of
Directors, shareholders will receive $35.00 in cash per share of Zayo’s common stock in a
transaction valued at $14.3 billion, including the assumption of $5.9 billion of Zayo’s net debt
obligations. The offer price represents a 32% premium to the volume-weighted price average of
the last six months of $26.44.

Dan Caruso, Zayo’s Chairman and CEO, said “Digital Colony and EQT share our vision that
Zayo’s Fiber Fuels Global Innovation. Both are experienced global investors in the
communications infrastructure space, and they appreciate our extraordinary fiber infrastructure
assets, our highly talented team and our strong customer base. I am confident this partnership
with EQT and Digital Colony will empower Zayo to accelerate its growth and strengthen its
industry leadership.”

Marc Ganzi, Managing Partner of Digital Colony, said “Zayo has a world-class digital
infrastructure portfolio, including a highly-dense fiber network in some of the world’s most
important metro markets. We believe the company has a unique opportunity to meet the
growing demand for data associated with the connectivity and backhaul requirements of a range
of customers. We are excited to work alongside the management team and EQT to grow the
business and expand its presence in the global market.”

“We are excited by the opportunity to team up with Zayo, in a transaction reflecting EQT’s
commitment to investing in market leading infrastructure companies whose innovations and
services are transforming society,” said Jan Vesely, Partner at EQT Partners, Investment
Advisor to EQT Infrastructure. “As one of the most active global infrastructure investors with a
demonstrated track record of success in the telecommunications and fiber industry, we are
confident that EQT, along with Digital Colony, are ideal partners for Zayo as the Company
embarks on its next phase of growth. We look forward to working closely with Zayo’s global
team, whose entrepreneurship, collaboration and customer partnerships are best in class.”
“Following a comprehensive review of strategic alternatives, the Zayo Board of Directors
concluded that the sale of Zayo to Digital Colony and EQT Infrastructure is in the best interest of
Zayo and all its stakeholders,” said Yancey Spruill, Zayo’s Lead Independent Director. “The
transaction delivers immediate and substantial value to shareholders and will strengthen Zayo’s
financial flexibility, enabling the company to increase investments and better position itself for
long-term growth and profitability.”

The closing of the deal is subject to customary conditions, including regulatory clearance and
Zayo shareholder approvals. The transaction is expected to close in the first half of calendar
2020.

Goldman Sachs and J.P. Morgan are serving as financial advisors to Zayo Group in connection
with the transaction and Skadden Arps is serving as legal counsel. Morgan Stanley and
Deutsche Bank are acting as financial advisors to Digital Colony and EQT Infrastructure, and
Simpson Thacher is serving as legal advisor.
For further information regarding all terms and conditions contained in the definitive merger
agreement, please see the Company’s form 8-K, which will be filed in connection with this
transaction.
For more information about Zayo, visit zayo.com.

About Zayo Group
Zayo Group Holdings, Inc. (NYSE: ZAYO) provides mission-critical bandwidth to the world’s
most impactful companies, fueling the innovations that are transforming our society. Zayo’s
130,000-mile network in North America and Europe includes extensive metro connectivity to
thousands of buildings and data centers. Zayo’s communications infrastructure solutions include
dark fiber, private data networks, wavelengths, Ethernet, dedicated Internet access, and
colocation services. Zayo owns and operates a Tier 1 IP Backbone and 51 carrier-neutral data
centers. Through its Cloudlink service, Zayo provides low latency private connectivity that
attaches enterprises to their public cloud environments. Zayo serves wireless and wireline
carriers, media, tech, content, finance, healthcare and other large enterprises. For more
information, visit zayo.com.

About Digital Colony
Digital Colony is a global investment firm dedicated to strategic opportunities in digital
infrastructure. The firm was launched in 2018 by Digital Bridge Holdings, LLC, a leading investor
in and operator of companies enabling the next generation of mobile and internet connectivity,
and Colony Capital, Inc. (NYSE: CLNY) a leading global real estate and investment
management firm. The firm brings together Digital Bridge’s industry, operational and investment
expertise in the telecommunications sector with Colony Capital’s 26 years of experience as a
global investment manager. For more information, please visit www.digitalcolony.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.

Forward Looking Statements
Certain statements made herein, including, for example, statements regarding the benefits of
the transaction, certainty of the transaction, the anticipated timing of the transaction and future
results or expectations of the Company, are “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934
(the “Exchange Act”) and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements typically include words such as “believes,” “expects,” “plans,”
“intends,” “estimates,” “projects,” “could,” “may,” “will,” “should,” or “anticipates” or the negatives
thereof, other variations thereon or comparable terminology. No assurance can be given that
future results expressed or implied by the forward-looking statements will be achieved, and
actual results may differ materially from those contemplated by the forward-looking statements.
Such statements are based on management’s current expectations and beliefs and are subject
to a number of risks and uncertainties that could cause actual results to differ materially from
those expressed or implied by the forward-looking statements, many of which are beyond our
control, and are not guarantees of future results or achievements. Consequently, no
forward-looking statements may be guaranteed and there can be no assurance that the actual
results or developments anticipated by such forward looking statements will be realized or, even
if substantially realized, that they will have the expected consequences to, or effects on, the
Company or its businesses or operations. As a result, you should not place undue reliance on
any such statements and caution must be exercised in relying on forward-looking statements.
The following factors, among others, could cause actual results to differ materially from those
described in these forward-looking statements: the occurrence of any event, change or other
circumstances that could give rise to the delay or termination of the Merger Agreement; the
outcome or length of any legal proceedings that have been, or will be, instituted related to the
Merger Agreement; the inability to complete the Merger due to the failure to timely or at all
obtain stockholder approval for the Merger or the failure to satisfy other conditions to completion
of the Merger, including the receipt on a timely basis or at all of any required regulatory
clearances related to the Merger; the failure of Parent to obtain or provide on a timely basis or at
all the necessary financing as set forth in the equity commitment letter delivered pursuant to the
Merger Agreement; risks that the proposed transaction disrupts current plans and operations
and the potential difficulties in employee retention as a result of the Merger; the effects of local
and national economic, credit and capital market conditions on the economy in general; and the
other risks and uncertainties described herein, as well as those risks and uncertainties
discussed from time to time in our other reports and other public filings with the Securities and
Exchange Commission (the “SEC”) as described below. The foregoing review of important
factors that could cause actual events to differ from expectations should not be construed as
exhaustive.

Additional information concerning these and other factors that could affect our forward-looking
statements, see our risk factors, as they may be amended from time to time, set forth in our
filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended June
30, 2018, and our Quarterly Reports on Form 10-Q for the quarters ended September 30, 2018
and December 31, 2018. Our SEC filings are available publicly on the SEC’s website at
www.sec.gov, on the Company’s website at https://investors.zayo.com or by contacting the
investor relations department of the Company. Except to the extent required by applicable law,
we disclaim any obligation to update any forward-looking statement, whether as a result of new
information, future events or otherwise.

Additional Information about the Proposed Merger And Where To Find It
In connection with the proposed Merger, the Company will file a proxy statement on Schedule
14A with the SEC. Additionally, the Company plans to file other relevant materials with the SEC
in connection with the proposed Merger. This press release is not a substitute for the proxy
statement or any other document which the Company may file with the SEC. The definitive
proxy statement will be sent or given to the stockholders of the Company and will contain
important information about the proposed Merger and related matters. INVESTORS IN AND
SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY
STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR
FURNISHED OR WILL BE FILED OR WILL BE FURNISHED WITH THE SEC, AS WELL AS
ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN
THEIR ENTIRETY BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH
RESPECT TO THE PROPOSED MERGER BECAUSE THEY CONTAIN OR WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE MERGER, RELATED MATTERS AND THE
PARTIES TO THE MERGER. The materials to be filed by the Company with the SEC may be
obtained free of charge at the SEC’s website at www.sec.gov or by contacting the investor
relations department of the Company.
Participants in the Solicitation

This press release does not constitute a solicitation of a proxy from any stockholder with respect
to the proposed Merger. However, the Company and its directors and executive officers may be
deemed to be participants in the solicitation of proxies from Company stockholders in
connection with the proposed Merger. Investors and security holders may obtain more detailed
information regarding the names, affiliations and interests of the Company’s executive officers
and directors in the solicitation by reading the Company’s Annual Report on Form 10-K for the
fiscal year ended June 30, 2018, the Company’s definitive proxy statement on Schedule 14A for
the 2018 Annual Meeting of Stockholders and the proxy statement and other relevant materials
filed with the SEC in connection with the Merger if and when they become available. Additional
information concerning the interests of the Company’s participants in the solicitation, which may,
in some cases, be different than those of the Company’s stockholders generally, will be set forth
in the proxy statement relating to the Merger when it becomes available. You may obtain free
copies of these documents as described in the preceding paragraph filed, with or furnished to
the SEC. All such documents, when filed or furnished, are available free of charge at the SEC’s
website at www.sec.gov or by contacting the investor relations department of the Company.

For Zayo: Brad Korch, Investor Relations
720-306-7556
IR@zayo.com
For Digital Colony Partners: Alex Stanton / Charlyn Lusk, Stanton
212-780-0701/646-502-3549
astanton@stantonprm.com / clusk@stantonprm.com
For EQT: Stephanie Greengarten
646-687-6810
stephanie.greengarten@eqtpartners.com
Daniel Yunger / Cathryn Vaulman, Kekst CNC
212-521-4800
daniel.yunger@kekstcnc.com / cathryn.vaulman@kekstcnc.com

Categories: News

Funds advised by Apax Partners complete the acquisition of Trade Me

Apax

New York and Wellington, New Zealand, May 8, 2019: Funds advised by Apax Partners (the “Apax Funds”), alongside certain co-investors, today announced the completion of the acquisition of 100% of the issued share capital of Trade Me Group Limited for NZ$6.45 per share. The transaction, which values Trade Me at c.NZ$2.56bn (c.US$1.7bn [1]), was unanimously supported by the Board of the company and received strong approval from shareholders.

Founded in 1999, Trade Me is the leading online marketplace and classified advertising platform in New Zealand. The company connects buyers and sellers across its leading vertical marketplaces for automobiles, property, and jobs as well as offering auctions and fixed-priced sales for new and used goods in its horizontal marketplace. Today the business employs over 600 people and is the fourth most visited website in New Zealand with approximately 1.8m visits each day and 7m listings.

Last month, Trade Me announced the appointment of Anders Skoe as Chief Executive Officer who will commence his role in July 2019. Anders brings extensive experience in the digital marketplace sector through his current position as CEO of Finn.no, a similar marketplace and classifieds business to Trade Me operating in Norway. He is also Executive Vice-President of Nordic Marketplaces at Schibsted, the global media group, in which Anders’ responsibilities comprise overseeing Finn.no alongside leading Swedish and Finnish digital marketplace sites Blocket.se and Tori.fi.

Current Trade Me CEO Jon Macdonald will continue in his role until Anders joins and assumes responsibilities. Jon had planned to leave Trade Me at the end of 2018, but at the request of the Board of the company he agreed to stay on while the Apax transaction was pending and to ensure a smooth transition to a new CEO. Jon will subsequently continue to play an important role in the business as a Non-Executive Director.

Mitch Truwit, Co-Chief Executive Officer of Apax Partners, said: “We are excited to partner with Trade Me; the clear leader in its market and one of New Zealand’s most-loved and recognised brands. We look forward to leveraging Apax’s significant experience, gained from other leading digital marketplace businesses around the world, to support management in delivering the company’s next phase of growth. We welcome Anders’ appointment and look forward to benefiting from his strategic insights, along with those of the existing Trade Me team, in the years to come.”

Anders Skoe, incoming Chief Executive Officer of Trade Me, said: “I am delighted to join the team at Trade Me, who have developed the company into a household name in New Zealand. I look forward to using my background and experience to build on Trade Me’s success to date and take the business to even greater heights. I’m also excited to be working with Apax who have an enviable reputation investing in this space.”

Jon Macdonald, current Chief Executive Officer of Trade Me, said “It’s fantastic that Anders is taking on the CEO role here in New Zealand, particularly given his strong experience in leading such a closely comparable business in a similar market. I wish him all the very best, and in my new governance role I’m looking forward to playing a small part in Trade Me’s continued success.”

The Apax Funds have a strong track record investing in digital marketplace businesses, combining extensive digital investment expertise with deep operational value-add. The investment in Trade Me is the eighth for the Apax Funds in this sub-sector. Previous investments include Auto Trader in the UK, Trader Corporation in Canada, Boats Group in the US, Idealista in Spain, and SoYoung and SouFun in China.

[1] Based on FX rates as at 31 Dec 2018.

About Trade Me

Trade Me (www.trademe.co.nz) is the leading online marketplace and classified advertising platform in New Zealand.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts: 

For Trade Me

Logan Mudge, Trade Me | +64 27 477 9486 | logan@trademe.co.nz

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

NZ Media: Geoff Senescall / Barry Akers, Senescall Akers | +64 21 481234 / +64 21 571234 309 5659 | senescall@senescallakers.co.nz / akers@senescallakers.co.nz

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors:

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Andrew Kenny
t: +44 20 7872 6300
andrew.kenny@apax.comGreenbrook Communications
t: +44 20 7952 2000
apax@greenbrookpr.com

Kate Albert
t: +44 20 7872 6300
kate.albert@apax.com

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Ardian invests in Rivalis, a leading french network supporting executives of small companies

Ardian

Paris, 8 April 2019 – Ardian, a world leading private investment house, today announces the acquisition of a minority stake in Rivalis, a leading French network for executive support, as part of an owner buyout (OBO) alongside the company’s management.

Created in 1994 in Colmar, France, this family business has seen rapid growth, becoming one of the leading supporters of executives of micro-businesses, craftsmen and SMEs in France today. This is thanks to its network of 500 independent advisors and 17,500 users. Rivalis provides business managers with a real-time overview of their company’s financial situation (such as turnover, profitability and forecasts) and enables these individuals to measure the impact of their decisions on areas such as budget, recruitment and investment. Rivalis also offers its clients expert advice to help them improve performance of the companies, to perpetuate the activity and to provide long-term support to the manager.

The company has reinforced its offering with the website www.petite-enterprise-net, the first service portal developed to answer questions from business leaders. The portal counts more than 9 million visitors per year. In addition, Rivalis has developed Henrri, a software as a service “freemium plus” assistant, in response to key needs of micro-businesses, craftsmen and SMEs, which include budget, invoices, payments and dashboards.

Lionel Valdan, co-founder of Rivalis, said: “With the arrival of an investor like Ardian, we are equipping ourselves with the vital resources to support our growth ambitions, in particular by strengthening our digital expertise and by introducing a targeted acquisition strategy.”

Damien Valdan, co-founder, added: “This is an important chapter in the Rivalis growth story. Ardian Growth is our leading investor and we believe it is invaluable to join forces with a partner who shares our entrepreneurial approach as well as the values our success was built on: human, digital and innovation.”

Romain Chiudini, Director within the Ardian Growth team, said: “Beyond its solid financial foundations, Rivalis has built a unique offer around a previously unseen business model. The founders’ innovative vision and the strength of its management team was a key factor in our decision to partner with Rivalis to help realize its growth ambitions.”

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 590 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 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT RIVALIS

Founded in Alsace, France, in 1994, the Rivalis Group was created in response to the lack of support and assistance adapted to small businesses (craftsmen, shopkeepers, liberal professions, very small businesses). Rivalis provides a solution for business leaders who wish to develop their business and offers a permanent advisor for tailor-made support. The Advisor is based on an adapted method and incorporates tools designed by Rivalis. With 522 independent advisors in the field and 17,500 users, Rivalis is the number one network for executive support in France today and the company is successful because it meets the real needs of micro-businesses, craftsmen and SMEs.

LIST OF PARTICIPANTS

– Rivalis: Lionel Valdan, Damien Valdan
– Ardian: Romain Chiudini, Florian Dupont
– Rivalis Financial Advisor: DT EXPERTISE (David Taristas)
– Ardian Financial Advisor: Next (Hervé Krissi, Eric Chan)
– Rivalis Legal Advisor: Cabinet LICHTENAUER (Catherine Lichtenauer)
– Ardian Corporate Legal Advisor: Gaftarnik, Le Douarin & Associés (Mickael Levi, Sarah Mobtahije)
– Ardian Tax Advisor: Mamou & Boccara (Laurent Mamou)
– Ardian Social Legal Advisor: Bonna Auzas Avocats (Sigmund Briant)
– Rivalis Strategic Advisor: Norima conseils (Christophe Camborde)
– Company Corporate Finance Advisor: Linkers (Jérôme Luis)
– Arranger: CIC Est (Valérie Petitjean, Quentin Fessler-Debove, Thomas Garnier)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
vtsvetanov@headlandconsultancy.com
Tel: +44 (0)20 3435 7469

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Hg invests in Litera Microsystems

HG Capital

Transaction will be Hg’s sixth legal and compliance business in the current portfolio

7 May 2019. Hg announces today that it will invest in Litera Microsystems (“Litera”), a leading provider of end-to-end document lifecycle solutions to the legal and life sciences industries worldwide, headquartered in Chicago. Terms of the transaction are not disclosed.

Based in London, Munich and New York, Hg is a specialist private equity investor focused on software and service businesses, committed to building businesses that change the way we all do business, through deep sector specialisation and dedicated operational support.

Litera has developed a leading suite of legal document productivity applications, delivered as an end-to-end platform to more than 1,300 organisations across the globe. Based in Chicago, New York and London, Litera provides a suite of best-in-class productivity tools that help customers to focus on what matters: creating the highest quality documents.

The investment in Litera follows one of Hg’s core investment theses, focused on the secular growth of software suppliers for business-critical functions in the legal and regulatory compliance sector. Hg has been actively following this theme for over 15 years, with Litera representing the sixth legal and compliance business currently in Hg’s portfolio, with others including STP, a leading provider of insolvency and law practice software in Germany; and Mitratech, a leading global provider of Enterprise Legal Management (‘ELM’) software to corporate legal departments, based in Austin, Texas.

Hg’s team has known Litera for several years, recognising it as a business solving mission-critical workflows for its customers, leading to strong recurring revenues and displaying the same growth characteristics as many others in the Hg portfolio. The investment will be made from Hg’s Genesis 8 Fund which, following the completion of this transaction, will be 54% invested across 7 software and service businesses.

Ben Meyer, Jean Baptiste Brian and Hector Guinness at Hg, said: “We have been very impressed with Litera’s great track record of delivering innovative products that change the way legal professionals work, with an unmatched record of excellent customer support and satisfaction. We look forward to working closely with Avaneesh and his team to continue the success of this company”.

Avaneesh Marwaha, CEO of Litera, said: “Over the last few years, Litera has experienced great success in creating a platform for long term growth.  As we looked for the next partner to align the business with, Hg stood out.  Leveraging Hg’s support and their experience in software, legal, life sciences and global expansion will enable Litera to reach new levels of success with confidence, whilst also allowing us to further invest in our people and culture. We look forward to partnering with Hg and developing new products and capabilities to continue to meet the evolving needs of our customers.”

Hg were advised by Evercore (M&A), EY (Financial & Tax), Deloitte (Financing), PWC (Commercial) and Skadden (Legal). Litera were advised by William Blair.

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