Monthly Archives: July 2019

2i Aeroporti acquires majority stake in Trieste Airport

Ardian

Set-up of a strategic plan for the development of the airport with investments of EUR 30 million in the next 4 years

Trieste-Milan, July 12 2019 – 2i Aeroporti finalized the acquisition of a 55% stake in Aeroporto Friuli Venezia Giulia S.p.A. for a total value of EUR 32.8 million. The Friuli Venezia Giulia Region will maintain a 45% stake. 2i Aeroporti is co-controlled by F2i sgr and a consortium led by Ardian Infrastructure.
Thanks to this agreement, Trieste airport becomes part of one of the largest Italian airport networks, which includes the airports of Naples, Turin, Alghero, Milan (Linate and Malpensa), Bologna and, indirectly, Bergamo. In 2018, the airports of the 2i Aeroporti network handled c. 71 million passengers, corresponding to 39% of national traffic, with an aggregate turnover of around EUR 1.2 billion.
“Through this deal the regional airport will take part to those complex dynamics that, thanks to the involvement of private partners with proven expertise and reliability, target the development of air traffic in the skies over Friuli Venezia Giulia,” Massimiliano Fedriga, President of Autonomous Region Friuli Venezia Giulia, explained.
“Trieste airport is a very important dowel of our strategy focused on the development of an independent network of airports in Italy. This acquisition increases the network of 2i Aeroporti, which allows local airports to take advantages from efficiencies and economies of scale, made possible by the presence of strong, long-term investors with a clear infrastructural vision. I think that, thanks to the partnership between the public and private sectors, our airport will be able to play a very important role in favour of the economic development of the territory, becoming a strategic hub for the development of a regional intermodality,” Renato Ravanelli, CEO of F2i, stated.
“We share with F2i and the Friuli Venezia Giulia Region the expansion plan of Trieste Airport, which will increasingly serve passengers and the territory (companies, local authorities, neighboring communities). We will work in close synergy together with the management team, in order to increase the international destinations, leveraging on our professional skills and established relationships with the airlines that we have developed over the years, thanks to Ardian’s investments in the aviation sector and in the infrastructure assets worldwide,” Mathias Burghardt, member of the Executive Committee and head of Ardian Infrastructure, added.
The new shareholders, in agreement with the Friuli Venezia Giulia Region, will work together to further develop the connections of Trieste airport towards Italy and abroad, in order to offer quality services, with a focus on innovation, sustainability and long-term value creation. The investment plan for the next years deals with, on one hand, EUR 15 million for the strengthening of flight infrastructures, and on the other hand, EUR 11 million for further infrastructural improvements, also for airport services and other buildings. An amount of EUR 2 million will also be invested in “green projects” through the installation of renewable energy systems. Lastly, EUR 2 million will be allocated to airport security and further upgrading of access roads.
“This operation allows us to enter into a network of primary importance and thus strengthen the strategic positioning of our airport also from a commercial standpoint”, stated Antonio Marano President of Trieste Airport.

2i Aeroporti

2i Aeroporti is the largest Italian airports platform: in 2018 over 69 million passengers have passed through one of the airports owned by 2i Aeroporti, of which 51% is controlled by F2i and 49% by the consortium led by Ardian.

F2i SGR

F2i, which stands for Italian Infrastructure Fund, is an asset management company established in 2007 and led by the CEO Renato Ravanelli. F2i is the largest infrastructure fund operating in Italy and among the leading ones in Europe. Its assets under management amount to around € 5 billion, invested in key areas of the Italian economy: airports, renewables, natural gas distribution, integrated water cycle, telecommunications, logical networks, health. Through its investee companies F2i provides work to over 17 thousand people in Italy and every day millions of people use the services and infrastructure of companies in its portfolio. F2i Sgr has 19 shareholders, including banking foundations, social security funds and Italian and foreign pension funds, Italian and international financial institutions, sovereign funds. The funds managed by F2i Sgr are underwritten by Italian and foreign professional investors, in equal measure.

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 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

Aeroporto Friuli Venezia Giulia – Trieste Airport

Since 1935 Trieste Airport has been the reference airport of the Friuli Venezia Giulia Region, in 2018 passenger traffic amounted to 772 thousand passengers for a total of 15,470 flights taken off of which 8245 commercial flights and 7225 general aviation. Travelers can reach the airport by car (and park in over 2500 parking spaces equipped with electric charging stations), by bus (with 3 companies that stop at the airport) but also by regional and high-speed railways (with 6 fast connections called ‘Frecce’ from and to Milan and Venice). Thanks to recent investments and partnerships with major airlines, the airport serves over 26 destinations in Italy and Europe and offers quality intermodal, sustainable and avant-garde services, providing the best hospitality for customers from the region, the Northeast and from neighbouring countries such as Slovenia, Austria and Carinthia. The recently refurbished infrastructures of the Friuli Venezia Giulia airport can satisfy the most demanding customers, with a dedicated and personalized service at every moment of the journey. In just two years and thanks to a 17.5 million euros investment, the airport is the focus point of the main Italian intermodal hub that connects the terminal directly with the “Trieste Airport Ronchi dei Legionari” stop along the Trieste – Venezia / Trieste – Udine railway lines. From a financial point of view, the company that manages the regional airport closed the 2018 with a net profit of 1.456 million euros and an EBITDA of 4.717 million euros. The increase in non-aviation revenues (commercial services) is significant, registering +40% compared to the previous year, reaching 4.7 million euros.

PRESS CONTACTS

For further information on F2i and 2i Aeroporti:
Maria Laura Sisti
External Relations Manager
Mobile: +39 347 4282170
marialaura.sisti@csc.vision.com
Chiara Cartasegna
Press Office
Mobile: +39 3489265993
chiara.cartasegna@cscvision.com
For further information on ARDIAN:
Image Building
Cristina Fossati, Luisella Murtas, Anna Pirtali
ardian@imagebuilding.it
Tel: +390289011300
For further information on Trieste Airport:
Community – Strategic Communication Advisers
Auro Palomba, Giuliano Pasini, Giovanni Benvenuti
tsairport@communitygroup.it
Tel: +390289404231 +393469702981
For further information on Friuli Venezia Giulia Region:
Agenzia Regione Cronache
Demetrio Filippo Damiani
demetriofilippo.damiani@regione.fvg.it
Tel: +39 347 5644945

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Signavio raises $177 Million led by Apax Digital to accelerate global expansion

Apax Digital

Investment to fuel further international growth and technology innovation for Signavio’s one-million users 

Berlin, New York – July 11, 2019: Signavio, a leading provider of business transformation solutions, today announced a $177 million investment to fuel continued international expansion and further investment in its world-class software suite. The transaction was led by Apax Digital, the growth equity team of Apax Partners, with participation from DTCP. Existing investor Summit Partners will retain an equity stake in the business.

Signavio’s Business Transformation Suite enables its over 1,300 customers to effectively mine, model, monitor, manage and maintain their business processes. Its intelligent decision-making tools address digital transformation, operational excellence and customer centricity, helping place process at the very heart of organizations. Signavio has grown its revenue by more than 70% in the last twelve months. Today the company’s software is used by more than one million users across industries and geographies, including leading companies such as SAP, Deloitte, Liberty Mutual, Bosch, Comcast-NBCUniversal.

This new investment will be used to accelerate international expansion and to further invest in Signavio’s product suite. The company already has 9 offices across the world and is expanding operations in Japan and India, increasing its employee base by over 50% in 2019. Earlier this year, Signavio was recognized as a March 2019 Gartner Peer Insights Customers’ Choice for Enterprise Business Process Analysis Software.

“10 years ago, we set out on a journey to tackle the time-consuming practices that limit business productivity,” said Dr. Gero Decker, CEO and co-founder of Signavio. “This significant new investment further validates our approach to solve business problems faster and more efficiently, unleashing the power of process through our unique Business Transformation Suite. We are thrilled to welcome Apax Digital as our new lead partner, and look forward to building upon our success to date by leveraging our partners’ operating capabilities and global platforms for our international expansion.”

Concurrent with this investment, Daniel O’Keefe, Managing Partner, and Mark Beith, Managing Director, of Apax Digital will join Signavio’s board of directors. Summit Partners Managing Director Matthias Allgaier will retain a seat on the company’s board of directors.

“As businesses have become more global, and workforces more distributed, business processes have proliferated, and become more complex,” noted Mr. O’Keefe and Mr. Beith. “Signavio’s cloud-native suite allows employees across an enterprise to collaborate and transform their businesses by digitizing, optimizing and ultimately automating their processes. We are tremendously excited to partner with the Signavio team and to support their vision.”

“With innovative, intelligent and easy-to-use solutions, Signavio is helping to enable digital transformation across thousands of organizations worldwide, enabling new use cases and extending the reach of BPM software from IT to business users,” said Matthias Allgaier, Managing Director with Summit Partners, which first invested in Signavio in 2015. “It has been a delight to work closely with Gero and the entire team to support the company’s impressive growth thus far. We are thrilled to welcome Apax and to continue our partnership with Signavio.”

The transaction is expected to close later this year, subject to regulatory approvals.

About Signavio
Over 1 million users in more than 1,300 organizations worldwide rely on Signavio’s unique offering to make process part of their DNA. Signavio’s business transformation suite enables mid-size and large organizations to effectively mine, model, monitor, manage and maintain their business processes. Its intelligent decision-making tools address digital transformation, operational excellence and customer centricity, placing them at the heart of the world’s leading organizations. Headquartered in Berlin, with offices in US, UK, France, Netherlands, Switzerland, Singapore and Australia, Signavio is well placed to deliver local services on a global scale. For more information, visit www.signavio.com.

About Apax Digital
The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.

Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About DTCP
DTCP is an investment management group with c. $1.7 billion assets under management and advisory from Deutsche Telekom and other corporate and institutional investors, and a portfolio of over 60 companies. The group provides venture and growth capital, private equity investments, and advisory services to the technology, media and telecommunication sectors. It operates and invests in Europe, the US, and Israel. To learn more about DTCP, visit www.telekom-capital.com or @TelekomCapital on Twitter.

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $19 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, please see www.summitpartners.com or on Twitter at @SummitPartners.

Media Contacts 

For Signavio

Global Media: Geraldine Teboul, Signavio | +49 151 54070110 | geraldine.teboul@signavio.com
USA Media: Kyle Tildsley, PAN Communications | +1 978 790 2063| ktildsley@pancomm.com
Germany Media: Natascha Hass, PR-Com | +49 89 59997 801| natascha.hass@pr-com.de

For Apax Digital / Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For DTCP

Global Media: Julia Wolters, DTCP |+49 160 6809906 | julia.wolters@telekom-capital.com

For Summit Partners

Global Media: Meg Devine, Summit Partners | +1 617 824 1047 | mdevine@summitpartners.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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The Carlyle Group Raises $3.1 Billion of Investable Capital for Inaugural Credit Opportunities Fund

Carlyle

  • $2.4 Billion of Equity Commitments from Global Institutional Investors Exceeds Initial $2 Billion Target
  • Including Available Leverage, the Fund will have Investable Capital of $3.1 Billion
  • Meets Growing Demand for Private Capital by Midsized and Large Businesses, Including Non-Private Equity Sponsored Companies and Strategic Corporates
  • Leverages Carlyle’s Global Platform to Source and Diligence Unique Assets

WASHINGTON, DC – Global investment firm The Carlyle Group (NASDAQ: CG) today announced the final close of its inaugural Carlyle Credit Opportunities Fund (“CCOF”), a $2.4 billion fund that invests in directly originated private capital solutions primarily for upper middle market borrowers, including non-private equity sponsored, family or entrepreneur-owned companies seeking an alternative to traditional capital markets or private equity. Including available leverage, investable capital by CCOF increases to $3.1 billion.

The fund has already committed approximately $850 million to ten businesses in North America and Europe across various industries where Carlyle’s broader platform has domain expertise. These include investments in a founder-owned homebuilder, a publicly listed media company and a subsidiary of a large corporate focused on renewable energy.

Alexander Popov, Managing Director and Head of the Carlyle Credit Opportunities team, said, “Carlyle’s Credit Opportunities Fund is meeting a growing need for bespoke capital solutions among borrowers seeking an alternative to traditional debt markets or private equity. Leveraging Carlyle’s global platform, we seek to source and drive value in complex or overlooked investment opportunities while structuring strong downside protection and current yield. We are grateful for the support of our investors and will work hard to achieve our investment objectives.”

Mark Jenkins, Managing Director and Head of the Global Credit platform, said, “We’ve made tremendous progress over the past three years expanding the Global Credit platform and this marks another important step forward in that effort.  As always, our focus is on securing the best investment opportunities for our investors, which we create by providing new and innovative capital solutions for our borrowers.”

A 15-person team based in New York and London advises the Carlyle Credit Opportunities Fund, and invests across the capital structure through a combination of secured loans, senior subordinated debt, mezzanine debt, convertible notes and other debt-like instruments, as well as preferred and common equity. The fund will benefit from proprietary investment opportunities originating from within Carlyle and the firms’ global resources and operating expertise.

Taj Sidhu, Managing Director and Head of Carlyle’s European Credit Opportunities advisory team, based in London, said, “The breadth and depth of Carlyle’s substantial platform is invaluable in providing access to deal flow and resources. Our team benefits from the firm’s approximately 640 investment professionals globally, which include approximately 150 investment professionals across Europe including in Barcelona, Milan, Munich and Paris where Carlyle has had local teams for 20 years.”

Carlyle’s Global Credit platform, with $46 billion in assets as of March 31, 2019, includes funds in liquid credit, illiquid credit and real assets credit. These businesses have more than 100 investment professionals in New York, Washington, DC, Los Angeles, Chicago, Hong Kong and London.

* * * * *

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of March 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

Media Contacts

US:
Christa Zipf
christa.zipf@carlyle.com
+1 212 813 4578

UK:

Catherine Armstrong
Catherine.Armstrong@carlyle.com
+44 20 7894 1632

Asia:
Tammy Li
Tammy.Li@carlyle.com
+852 2878 5236

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Categories: News

Rhapsody and Corepoint Merge to Advance Interoperability in Healthcare

HG Capital

Combined Entity Brings Complementary Resources and Expertise to Support Critical Interoperability Initiatives Including FHIR®, Cloud Transformation and National Data Exchange Networks

 

BOSTON, Massachusetts – July 10, 2019 – Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Both companies will continue to support and advance their respective solutions, while the combined entity will also devote its expanded resources to addressing the growing need for interoperability among regional, national and international healthcare providers and vendors.

“Corepoint’s platform offers incredibly fast, turn-key operations for provider organizations, HIEs and OEM partners, all with industry leading customer satisfaction. Complementing this with Rhapsody’s fully customizable and multi-platform capabilities creates great synergies for our current and future customers,” said Erkan Akyuz, President and CEO, Rhapsody. “Both entities share great technical depth and breadth and both have maintained long-standing customer relationships, which together yields a broader foundation on which to build the future of interoperability in healthcare. Together, we can better support our customers to fulfill all of their changing and future needs.”

Available on premises and as a cloud-based service, the Rhapsody and Corepoint interoperability platforms offer comprehensive routing and transformation functionality for every operating environment, offering highly differentiated features, applications and end customer focuses. The two platforms also support commonly used messaging standards and protocols such as FHIR®, HL7® V2, CCD/C-CDA and DICOM. These integration engines are among the most secure technology platforms in the healthcare industry, with customer bases that include the entire healthcare ecosystem and across the globe, including provider organizations, technology vendors, HIEs and public health systems.

“We are entering a new era in healthcare where the emphasis will be on expanding ecosystems and establishing new data trading partner relationships to optimize clinical and operational workflows. These initiatives will be powered by interoperability and data management: healthcare organizations that can excel in these areas will have a significant competitive advantage,” said Sean Cassidy, CEO of Corepoint Health. “The combination of Rhapsody and Corepoint enables our customers to continue to get tremendous value out of the products and services they love, while having the confidence that their interoperability partner is heavily invested in helping them confront the challenges they will face in the future.”

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

Learn more here.

About Corepoint 

Corepoint Health delivers a powerful yet simplified approach to internal and external health data integration and exchange for hospitals, radiology centers, laboratories, and clinics. Our software solutions help health care providers and vendors achieve their interoperability goals. For the 10thconsecutive year, Corepoint Integration Engine has earned the #1 ranking in the Best in KLAS Awards: Software & Services report. To learn more about Corepoint Health, visit https://corepointhealth.com

About Hg

Hg is a specialist private equity investor, committed to building businesses that change the way we all do business, through deep sector specialization and dedicated operational support. We are a leading European investor in software and services businesses, with increasing global presence, having built a team of 170 people over 25 years. Hg partners with the businesses and management teams we invest in, sharing best-practice ‘playbooks’ and leveraging Hg’s executive and portfolio network as a powerful tool for knowledge sharing across comparable businesses. Based in London, Munich and New York, Hg has funds under management of around $13 billion serving some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com

Media Contacts:

Rhapsody
Andrea Weiss
+1 508.269.7742		 Corepoint Health
Jeff Zinger
+1 214.618.7031		 Hg
Tom Eckersley
+44 207 089 7967

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CVC funds sign agreement for ADIA to acquire 30% of Domestic & General

Company’s appliance care plans protect 23 million appliances for 16 million customers across Europe and Australia

Domestic & General (“D&G”), the leading appliance care specialist, is pleased to announce that certain funds (“CVC Funds”) advised by CVC Capital Partners (“CVC”) have reached an agreement with Luxinva S.A., an entity ultimately wholly-owned by the Abu Dhabi Investment Authority (“ADIA”), for ADIA to acquire a circa 30% stake in D&G. CVC Funds will continue as D&G’s majority shareholder via CVC Fund VII. The acquisition is expected to close by the end of 2019, subject to customary merger control and regulatory clearances.

D&G’s appliance care plans protect individuals and families against the unexpected costs of appliance repairs and replacements. With a presence in 11 countries across Europe and Australia, D&G protects approximately 23 million appliances for approximately 16 million customers. It has a leading position in the UK and is present in 1 in 3 households.

Since CVC Funds’ investment in 2013, D&G has grown annual revenues from £633m to £811m, expanded its operations across Europe, and is currently exploring further international opportunities. D&G has also invested significantly in enhancing its customer service, technology infrastructure and digital capabilities to support continued delivery of its ambitious growth plans.

David Tyler, Chairman of D&G said: “We are delighted to welcome a significant new investor to D&G. ADIA brings a wealth of investment experience from around the globe and has a strong reputation for supporting the growth of high quality companies such as D&G. With ADIA’s investment alongside CVC Funds’ ongoing commitment, we will have a new ownership structure underpinned by two stable and well-resourced global investors. It is a strong platform enabling us to focus on our growth plans in the UK and internationally. All of us at D&G look forward to working with them.”

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Funds advised by CVC Capital Partners lead consortium to acquire significant minority stake in GEMS Education

Consortium will acquire approximately 30% stake in world’s largest provider of private K-12 education by revenue

Funds advised by CVC Capital Partners (“CVC Funds”) have led a consortium (the “CVC Consortium”) which has agreed to acquire a significant minority stake in GEMS Education, the world’s largest provider of private K-12 education by revenue.

Upon completion of the transaction, the CVC Consortium will acquire approximately a 30% stake in the company from the existing shareholders. Concurrently, GEMS Education has launched a refinancing programme (expected to include loans and bonds), details of which will be announced in due course. Both transactions are anticipated to close by the end of July 2019.

The transaction sees the successful exit by a consortium led by Fajr Capital Limited including Tactical Opportunities funds managed by Blackstone (“Blackstone”) and Bahrain Mumtalakat Holding Company B.S.C. (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain, which acquired a significant minority stake in GEMS Education in 2014. Existing minority investor Khazanah Nasional Berhad, a sovereign wealth fund of Malaysia, which invested in January 2018, will retain its 3% stake in GEMS Education.

Dino Varkey, CEO, GEMS Education, said: “GEMS Education strives to improve every part of the education journey for both students and parents. Aided by our investors, the last five years have seen consistent and continued improvements across GEMS Education schools, most significantly with our excellent inspection outcomes, year on year increases in student examination results, and our safeguarding and inclusion work with students, schools and parents. We repaid our inaugural Sukuk in November 2018 and are excited to re-engage with the international capital markets, including securing our inaugural credit ratings, as we launch our refinancing.

“Investment by the CVC Funds marks the third time we have successfully collaborated with global institutional investors. As we approach our 60th anniversary, we look forward to developing the company further. This is aligned with our vision of expanding the business into new markets and continuing our long history of growth. We would like to thank our exceptional team for their hard work to get us here, especially Riz Ahmed and Jake Barnard and the broader management team.”

Sunny Varkey, Founder, GEMS Education, said: “We are delighted to welcome CVC as our new partners, as we continue our mission of raising the benchmark for quality education and shaping the future of learning for tomorrow. We are also grateful to Fajr Capital, Blackstone, and Mumtalakat for their contributions to the business over the past five years. Sixty years on from opening our first school, I believe more than ever that ‘whatever the question, education is the answer.’ We are excited that CVC shares our passion for this mission, and our belief in our potential to continue to enhance quality education in our growing school portfolio.”

Jan Reinier Voûte, Partner and Co-Head of CVC Strategic Opportunities, said: “We are excited to embark on our partnership with GEMS Education, the world’s leading education provider by revenue. GEMS is a perfect fit for our Strategic Opportunities strategy which is ideally positioned to support value creation in long term partnership investments. We look forward to supporting GEMS to deliver their vision of expanding their footprint.”

This investment is made from CVC’s Strategic Opportunities Platform, which was established in 2014 in response to growing demand from institutional investors to be able to invest for the long term in stable, high-quality businesses. Since the strategy was created, nearly €4 billion of equity capital has been committed to seven investments.

Özgür Önder, Managing Director and a member of CVC’s Eastern Europe & Middle East team, said: “We are very excited about CVC Funds’ first major investment in the GCC region, where we see significant growth opportunities. GEMS Education is a world leader in education and we look forward to working with Sunny Varkey and Dino Varkey and their excellent management team to further enhance and expand their offering.”

Iqbal Khan, CEO of Fajr Capital, Andrea Valeri, Senior Managing Director of Blackstone, and Mahmood H. Alkooheji, CEO of Mumtalakat, jointly issued the following statement: “We invested in GEMS Education as a consortium because we believed in the company’s ability to address the substantial and growing demand for quality education across emerging markets. We are all very pleased with the progress GEMS Education has made since our investment – with the company building 16 new schools, entering into new markets through organic and inorganic expansion, strengthening corporate governance, enhancing its capital structure, and improving overall academic excellence. The sale of our stake in GEMS Education marks the end of a very successful partnership and also highlights the positive role strategic financial investors can play to help realise the potential of high-growth businesses in the Middle East. We wish Sunny, Dino, the Varkey family, CVC, Khazanah, and everyone at GEMS Education all the best as the company continues to advance its mission to put quality education within the reach of every child.”

GEMS Education has grown from a single school started by a family of teachers in 1959 to become the world’s largest provider of private K-12 education by revenue. As at 28 February 2019, GEMS Education owned and operated 49 schools in the United Arab Emirates and Qatar. Since Gamma invested in 2014, GEMS Education has invested more than USD 1.0 billion in enhancing and expanding its offering.

Concurrently with the CVC Consortium’s transaction, GEMS Education will assume ownership of a further 14 private schools in Europe, through the acquisition of Bellevue Education, a leading school group headquartered in the UK.

Furthermore, GEMS Education recently invested in a portfolio of 14 schools in the Kingdom of Saudi Arabia and four schools in Egypt through joint ventures with Hassana, the Saudi Arabia Pension Fund, and EFG Hermes respectively.

The Varkey Group, the founding shareholder of GEMS Education, will continue to independently operate schools under the GEMS Education and other brands in the United States, France, India, Singapore, Malaysia, and Sub-Saharan Africa. The Varkey Family, in combination, will remain as the largest shareholders in GEMS Education once the transaction has completed.

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Rhapsody and Corepoint merge to advance Interoperability in Healthcare

HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

Categories: News

Tags:

Rhapsody and Corepoint merge to advance Interoperability in Healthcare

HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

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Rhapsody and Corepoint merge to advance Interoperability in Healthcare

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HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

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KKR Enters Exclusive Negotiations with GBL for Webhelp Group

KKR

LONDON & PARIS–(BUSINESS WIRE)–Jul. 10, 2019– KKR, a leading global investment firm, announces today it has entered into exclusive negotiations to sell a majority stake in the Webhelp group to Groupe Bruxelles Lambert (“GBL”). GBL will invest alongside Webhelp’s co-founding shareholders, Olivier Duha and Frédéric Jousset, who would retain their role as founding executive directors, and Webhelp’s management team.

Founded in 2000, Webhelp is today one of the world’s leading providers of customer experience and business process outsourcing (BPO). The company develops innovative solutions combining consulting services, technological solutions and omni-channel processing capabilities with 50,000 employees in more than 35 countries. Since KKR’s acquisition in 2015, Webhelp has doubled in size as the result of an organic and external growth strategy that GBL aims to maintain and accelerate, together with the strong collaboration of the co-founders and management.

As a result of this transaction, GBL would acquire a majority stake in Webhelp on the basis of an enterprise value of €2.4 billion. It is expected that the legal documentation will be signed by the beginning of August for completion, after obtaining regulatory authorizations, within the course of Q4 2019.

Johannes Huth, Member and Head of KKR EMEA, and Stanislas de Joussineau, Director at KKR, said: “Our successful collaboration with Olivier and Frederic has turned Webhelp into a true European champion. The support we have provided to Webhelp builds on our track record in helping founder-led businesses realise their growth ambitions, and helping French companies expand internationally. We believe the company is strongly positioned for future growth and we wish Webhelp and GBL every continued success.”

Olivier Duha and Frédéric Jousset, co-founders of Webhelp, said: “We thank KKR for its investment over the past four years and we welcome with confidence GBL in order to write together a new growth and investment phase. The management team has chosen to surround itself with a shareholder renowned for its longstanding support to companies with international ambitions such as Webhelp.”

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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 Webhelp
Webhelp is a global business process outsourcer (BPO), specialising in customer experience and payment services in addition to sales and marketing services across voice, social and digital channels.

From more than 150 sites in 36 countries with an approximately 50,000-strong team, our focus is on engineering performance improvements and delivering a real and lasting transformation in our clients’ operating models to generate financial advantage. We partner with some of the world’s most progressive brands including Sky, Shop Direct, Bouygues, Direct Energie, KPN, Vodafone, La Redoute, Michael Kors and Valentino.

Headquartered in Paris, France, the company has grown its revenues by more than 250% in the last 4 years by investing in its people, the environment they work in and developing its analytical and operating capability to deliver a transformational outsourcing proposition that addresses the challenges of an omni-channel world. More information can be found at www.webhelp.com

Forward-Looking Statements
This press release may contain forward-looking statements, identified by words such as “expect,” “aim,” “estimate,” “will,” “may” and “believe” or similar expressions. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and KKR does not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

Source: KKR

Media Contacts:
International
Alastair Elwen
Finsbury
Phone: +44 (0) 20 7251 3801
Email: alastair.elwen@finsbury.com

France
Olivier Blain
Adding Value Conseils
ob@addingvalueconseils.com
+33 6 72 28 29 20

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