CapMan Infra and Telia Company to accelerate roll-out of fibre networks in Finland

CapMan Infra press release
31 October 2019 at 09.00 a.m. EET

CapMan Infra and Telia Company to accelerate roll-out of fibre networks in Finland

CapMan Infra has agreed on a majority investment in a joint venture to be established with Telia Company to invest into and deploy fibre-to-the-home (FTTH) infrastructure in Finland. The joint venture will acquire Telia Finland’s existing Avoin Kuitu fibre assets and will be one of the largest FTTH network owners and operators in Finland.

One of the key goals in the Finnish Government Programme 2019 is promoting the construction of more extensive optical fibre networks throughout Finland to enable better digital infrastructure and fast broadband access across the country. Achieving this goal requires substantial investments and a reliable operator specialising in the fibre market. CapMan Infra and Telia are rising to the challenge by establishing a joint venture to accelerate the roll-out of fibre infrastructure. The joint venture will take over Telia Finland’s Avoin Kuitu existing FTTH business and increase the pace of investments to make fibre available across Finland. The business currently builds and operates fibre assets primarily in Finnish growth centres and surrounding areas, serving around 12 municipalities.

“Reliable and fast network connections are a core foundation for modern society. They improve quality of life by enabling living and working across the country. The efficient implementation of large investment projects is at the core of our team’s expertise, and the new ownership model with Telia allows us to make long-term commitments to roll-out fibre networks across Finland. We are delighted to work with a market-leading operator to establish a stand-alone open access fibre provider,” comments Harri Halonen, Partner at CapMan Infra.

Global trends and consumption patterns are increasingly driving the need for fast and reliable data connections. Video-on-demand, online gaming and the increasing number of connected devices require fast and reliable network connections, which 4G or even 5G networks are unable to guarantee in the long-term, given the exponential increase in the amount of data being transferred.

“I’m really happy that we have come to this agreement with CapMan Infra which fits very well with Telia Company’s strategy of having superior network connectivity while adding to our commercial success through convergence and great customer experience. The network roll-out will play an important role for Finland to maintain its position at the very forefront of digitalization. This new type of structure with a partnership ties well with our ambition of disciplined allocation where we, case by case and market by market, seek a good balance between the risk and reward and potential future technology shifts as well as short versus long-term thinking,” says Stein-Erik Vellan, Senior Vice President, Head of Telia Finland.

The transaction is expected to close in the beginning of 2020 with completion conditional on customary approvals from competition authorities.

CapMan Infra’s investment focus is core and core+ infrastructure assets in the energy, transportation and telecom sectors in the Nordics. CapMan Infra held the first close on its midcap Nordic infrastructure fund in October 2018, and the fund invested in the Norwegian ferry operator Norled earlier this year. The CapMan Infra team comprises 7 investment professionals and operates from Helsinki and Stockholm with a total of 70 years of sector experience. The team has also completed investments on a mandate basis in Nordic infrastructure opportunities.

For further information, please contact:
Harri Halonen, Partner, CapMan Infra, tel. +46 768 71 0062

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. www.capman.com

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Livingstone Technologies agrees to acquire Cloud Optics

Carlyle

Livingstone Technologies agrees to acquire Cloud Optics as part of its continued investment in the Software Lifecycle Management Space

London UK, October 31, 2019 – Livingstone Technologies supported by global investment firm The Carlyle Group (NASDAQ: CG) today announces that it has agreed to acquire Cloud Optics as it continues to invest in the Software Lifecycle Management market.

Equity for the investment will come from Carlyle Europe Technology Partners III (“Carlyle”) and reinvestment from the founders and Livingstone Management. Financial terms of the transaction are not disclosed.

Cloud Optics is a leading independent consultancy, providing cloud and software license and consulting services across mega-vendors including Microsoft, Oracle, IBM, SAP and Salesforce.

Cloud Optics’ lifecycle services align perfectly to those already provided by the Livingstone Group, which support global organisations in the public and private sector to procure and govern their IT estate effectively, based on trustworthy data and asset intelligence.  Cloud Optics’ best in class commercial and contractual solutions strengthen the group’s portfolio of services, allowing it to help clients to optimise their software and cloud estates and align them to their actual requirements.

This strategic acquisition will enable Livingstone to assess a client’s current and future software needs to produce an optimal Bill of Material.  It will then support clients through vendor negotiations with benchmarking support services, allowing clients to optimise their licensing, product and contract positions.

This investment represents the fourth significant investment that Carlyle has made in the Software Asset Management (SAM) sector in the last eighteen months, with the previous acquisitions of Livingstone Technologies (UK) enabling the further acquisitions of Siwel (USA) and more recently Derive Logic (UK).

Trevor Rolls, Chairman, Livingstone Group, said: “Livingstone Group will now be able to offer a comprehensive range of services that provides real value and tangible outcomes to our global clients, through the provision of trustworthy data and the intelligence that keeps them compliant. The acquisition of Cloud Optics enables us to deliver the best commercial outcomes from their cloud & software vendors, through our negotiation support services.  These are truly exciting times for our business and our clients around the world.”

Harmeet Assi, Chief Executive Officer, Cloud Optics said: “We are delighted to be joining the Livingstone Group, with our combined skill sets and portfolio we will have much greater breadth, depth and reach to deliver best in class end to end outcomes for our Clients. Our combined services are hugely complimentary and as a team we are very excited to join the Livingstone family.”

Fernando Chueca, Managing Director, Carlyle Europe Technology Partners, said: “In a relatively short period of time, Cloud Optics has established itself as a leading provider of software licencing advice to blue-chip customers and built a promising cloud advisory proposition. We are delighted to support the combination of Livingstone and Cloud Optics, which will deliver best in class services to all its joint customers. We welcome Harmeet and his team to the enlarged Livingstone family and look forward to working with them.”

Transcend Corporate (Corporate Finance), Osborne Clarke (Legal) and Spencer Gardner Dickins (Tax) advised Cloud Optics.

About Cloud Optics

Cloud Optics is a team of highly experienced and skilled Software License Consultants that deliver a range of Software License Consulting and Managed Services across Microsoft, Oracle, IBM, SAP and Salesforce.  Using a unique underpinning methodology, it advises, develops and implements solutions that improves and optimises client’s software license position from a contractual and commercial perspective. Its solutions drive measurable and tangible results for its clients, whilst always meeting responsibly their short and long-term technology requirements.  Cloud Optic’ consultants are recognised as some of the most experienced and skilled in the world having provided services to Fortune 500 global clients regularly and having worked on some the largest, complex and sophisticated software license negotiation’s in the world Cloud Optics is headquartered in Richmond, UK.

Web: www.cloud-optics.com

About Livingstone Technologies

Livingstone Technologies Limited is an independent, data and tool agnostic provider SAM managed services and a trusted partner to complex multinational corporations. The company combines proprietary technology, large vendor licensing expertise and proven methodologies to produce accurate SAM intelligence. Rapid onboarding of Livingstone’s managed service means that the company can deliver comprehensive reports within the first six weeks of an engagement.  The reporting helps CIO/CTOs, IT Procurement, SAM and ITAM professionals, make smart business decisions on software. Livingstone’s customers are its greatest advocates and represent some of the world’s largest and most complex organisations. For them, the company has delivered hard cost savings, quantifiable risk mitigation, licence optimisation and vendor audit readiness.

Web: www.livingstone-tech.com

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 September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

Web: www.carlyle.com

Contacts:

Livingstone
Chris Lewis
+44 203 817 4880
Chris.lewis@livingstone-tech.com

The Carlyle Group
Rory Macmillan
+44 207 894 1630
roderick.macmillan@carlyle.com

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The Hilb Group Announces Definitive Agreement to Be Acquired By The Carlyle Group

Carlyle

RICHMOND, Va. — The Hilb Group, LLC (“Hilb”), a leading national insurance broker, announced today that it has signed a definitive agreement with global investment firm The Carlyle Group (NASDAQ: CG) for investment funds affiliated with Carlyle to acquire a majority interest of Hilb. Hilb’s existing management team and employee shareholders are expected to remain significant shareholders. Hilb is currently a portfolio company of Abry Partners, a Boston-based private equity firm.

Founded in 2009, Hilb employs more than 900 associates and operates 91 branch offices serving all 50 states. Abry Partners invested in Hilb in 2015 and worked closely with management to grow the business into one of the Top 30 insurance brokers in the U.S. according to Business Insurance magazine. The firm was recognized as one of the fastest growing private companies by Inc. magazine in 2018, and ranked a Top 10 fastest growing broker in 2017 by Business Insurance magazine and a Top 100 P/C Agency by Insurance Journal magazine in 2019.

Richard Spiro, Chief Executive Officer at Hilb, said, “This investment by Carlyle is a strong endorsement of our growth strategy and represents the next exciting chapter for Hilb. Carlyle’s additional capital and resources will significantly benefit our company and associates as we grow our business organically and through targeted M&A opportunities. Working with Abry enabled us to accelerate our development and we are equally excited to have new partners to fuel future growth. We have a rich pipeline of partnership opportunities and look forward to continuing our expansion with Carlyle.”

Brent Stone, Partner at Abry, said, “During the four years of our ownership, we helped build Hilb into a national insurance brokerage by investing in the company’s operations and strengthening its management team, including recruiting Ricky as CEO. The company’s annual revenues dramatically increased under our ownership and we successfully completed more than 60 strategic add-on acquisitions during that time. We are very pleased with the outcome of this investment for our investors and also for Hilb’s management team and employees. Hilb is very well positioned for ongoing growth and performance as a portfolio company of Carlyle and we wish them success.”

John Redett, Managing Director and Co-Head of Carlyle Global Financial Services, said, “We have long admired the Hilb franchise and are extremely impressed with what Ricky Spiro and the Hilb management team have accomplished during the past several years. We look forward to our partnership, and to supporting Hilb in its next chapter of growth and innovation as it expands into new geographies and product lines to serve the increasingly complex needs of its clients.”

Nathan Ott, Principal at Abry, commented, “Hilb has made significant progress since our acquisition and has developed a proven track record of growth across a variety of geographic regions and product lines. The company is led by a best-in-class management team and is poised to achieve its next level of growth.”

Equity capital for the investment will come from Carlyle Partners VII, an $18.5 billion fund that focuses on buyout transactions in the U.S., and Carlyle Global Financial Services Partners III, L.P., a dedicated financial services buyout fund.

The transaction is expected to be completed in the fourth quarter of 2019, subject to customary closing conditions, including regulatory approvals. Financial details of the transaction were not disclosed.

J.P. Morgan and Sica | Fletcher served as financial advisors to Abry and Hilb, and Kirkland & Ellis LLP served as legal counsel. Simpson Thacher & Bartlett LLP served as legal counsel and Latham & Watkins LLP provided financing and regulatory counsel to The Carlyle GroupFunds managed by Ares Capital Management LLC, Crescent Capital Group, Owl Rock Capital, Antares, and Barings will provide debt financing for the transaction.

About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on ABRY, please visit www.Abry.com.

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 $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

About The Hilb Group
The Hilb Group is a leading middle market insurance agency headquartered in Richmond, Virginia and is a portfolio company of Boston-based private equity firm, Abry Partners. The Hilb Group seeks to grow through targeted acquisitions in the middle market insurance brokerage space. The company now has 91 offices in 21 states. Please visit our website at www.hilbgroup.com.

Contacts:
For Abry and Hilb, Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
chris@tofallipr.com

For Carlyle, Christa Zipf
+1 (212) 813-4578
Christa.Zipf@carlyle.com

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Regional Rail expands its geographic footprint through acquisition of Pinsly Railroad Company’s Florida operations

3I

3i-backed Regional Rail, a leading owner and operator of short-line freight railroads and rail-related businesses in the Mid-Atlantic U.S., has agreed to acquire Pinsly Railroad Company’s (“Pinsly”) Florida operations with 208 miles of track across three short-line railroads, subject to authorisation from the Surface Transportation Board.

Pinsly’s Florida operations include the Florida Central Railroad, the Florida Midland Railroad and the Florida Northern Railroad. The railroads provide freight transportation, transload and railcar-storage services to a broad customer base of over 65 blue-chip companies covering a diverse set of endmarkets, including heating, fuel blending, building products, chemicals, food and agriculture, scrap metal and plastic resins.

Given its location in and around Orlando and Tampa, Pinsly’s Florida operations provide freight traffic that is over 90% inbound serving multiple, high-growth consumption markets throughout the state. With strong population and economic trends forecast for the region, the lines are well positioned to continue the impressive traffic growth they have experienced historically.

Al Sauer, CEO, Regional Rail, commented:

“Pinsly’s Florida operations are highly complementary to Regional Rail and expand our geographic footprint. The lines have a large and diverse customer base, a strong pipeline of new freight customers and service many highly attractive industrial development sites, all of which provide an exciting growth opportunity. We also intend to retain all of the lines’ employees and look forward to supporting and working with the local management team to continue the lines’ impressive growth.”

John Levine, CEO, Pinsly, commented:

“We are delighted to have reached an agreement with Regional Rail and 3i to acquire our Florida operations. I have known the Regional Rail management team for many years and believe they will be very good stewards of the culture and team we have created.”

Rob Collins, Managing Partner, 3i North American Infrastructure, commented:

“This is an attractive and strategic acquisition for Regional Rail, given the similarities between the businesses. Combined, the two companies will operate 21 line segments across four states, with over 355 miles of track. The U.S. short-line network is attractive to 3i and the combined company will be well positioned for potential future acquisitions.”

3i invested in Regional Rail in July 2019. The company provides freight transportation, railcar storage and transloading services in New York, Pennsylvania and Delaware across three railroads with over 155 miles of track connecting into a diversified Class 1 railroad network. In 2018, the company moved over 13,000 carloads while serving over 70 customers across an extensive set of end-user markets including heating, fuel blending, food & beverage, agriculture, chemicals and metals. In addition to rail transportation services, the company also provides railroad crossing signal design, construction, inspection and maintenance services to a diverse base of over 100 short-line and industrial customers across 20 states.

 

-Ends-
Download this press release  

 

For further information, contact:

 

3i Group plc

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Regional Rail, LLC

Regional Rail, LLC is a transportation-holding company headquartered in Kennett Square, PA. It is the parent company of East Penn Railroad LLC (ESPN); Middletown & New Jersey Railroad, LLC (MNJ); Tyburn Railroad, LLC (TYBR) and Diamondback Signal, LLC. For further information, please visit: www.regionalrail.com 

About Pinsly 

Pinsly, through its subsidiaries, is a short-line railroad operator headquartered in Westfield, MA.

Pinsly’s Florida operations include the Florida Central Railroad Company, Inc. (FCEN); Florida Midland Railroad Company, Inc. (FMID) and Florida Northern Railroad Company, Inc. (FNOR). For further information, please visit: https://www.pinsly.com/

Regulatory information 

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

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The Carlyle Group Raises €6.4 billion for Carlyle Europe Partners V

Carlyle

  • Leverages Carlyle’s deep regional expertise and global platform to source assets
  • More than 70% larger than previous fund

London, UK – Global investment firm The Carlyle Group (NASDAQ:CG) today announced that it has raised €6.4 billion for its latest Carlyle Europe Partners fund, exceeding its target by almost €1.0 billion. In total over 300 investors from 37 countries have made commitments to the new Carlyle Europe Partners V fund.

Carlyle Europe Partners V is managed by a team of 40 professionals across 5 European offices and continues its successful strategy of investing in European upper mid-market opportunities across a wide range of sectors and industries where there is significant potential for business transformation. The fund is the fifth in the Carlyle Europe Partners franchise which over the past twenty-two years has invested €15.2bn in 78 investments across Europe.

Marco De Benedetti  and Gregor Boehm, co-Heads of the Carlyle Europe Partners advisory team, said, “We are both humbled and excited by the strong showing of support and continued confidence from our limited partners. This latest successful fundraise reflects the strength of the Carlyle Europe Partners franchise and we are confident in our team’s demonstrated ability to work alongside companies in Europe to execute on their strategic goals. Our fund leverages Carlyle’s global network, cross-sector expertise and locally embedded teams to drive growth across all our portfolio companies and to create value for our investors and all our key stakeholders.”

Kewsong Lee, Co-CEO of The Carlyle Group said, “Europe continues to be an important strategic market for Carlyle.  In a time of immense complexity and change, our country-specific and sector-driven approach positions us well to find interesting opportunities to partner with management teams and build companies. We want to thank our limited partners for the significant commitment and confidence they have placed in Carlyle for more than 20 years to support the growth of our investment activities throughout the region. “

Carlyle Europe Partners V has already made 5 investments in companies located in Spain, Italy and The Netherlands: Forgital, a manufacturing company producing large forged and machined components for the aerospace and industrial industries; Cepsa, Spain’s largest independent multinational integrated energy company; Nouryon, a market leader in the manufacture of chemical components and solutions; Design Holding, a global high-end interior design group; and Jeanologia, a supplier of cutting-edge environmentally-friendly technologies.

******

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 $223 billion of assets under management as of June 30, 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 1,775 people in 33 offices across six continents.
Web: www.carlyle.com

 

Contacts
Rory Macmillan
+44 207 894 1630
roderick.macmillan@carlyle.com

 

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rdian and LaSalle to sell the West Bridge building in Levallois, France

Ardian

Paris, October 22, 2019 – Ardian, a world leading private investment house and LaSalle Investment Management (“LaSalle”), one of the world’s leading real estate investment managers, announce today the sale of their participation in the West Bridge building to a joint venture formed by Amundi Immobilier, la Française Real Estate Partners and the Caisse d’assurance vieillesse des pharmaciens.

Acquired in 2017, West Bridge is an iconic office building located at 145-149 rue Anatole France in Levallois-Perret, France. The 28,000 m2 building is undergoing a major renovation program led by Baumschlager Eberle Architecture. The complete refurbishment aims to reposition it as a grade A building. The building, for which completion is scheduled end of 2020, will include two restaurants, a vast auditorium, two gardens and co-working areas spread over eight floors as well as a rooftop terrace offering a panoramic 360° view. Sustainability focus was at the heart of this project and in line with the strategies of Ardian Real Estate and LaSalle, and as such the building will be certified BREEAM Excellent, HQE Excellent and WELL Gold.

In May 2019, LaSalle and Ardian announced they had signed a 12-year lease with WPP. The agency has decided to set up its new Paris campus in this building.

Stéphanie Bensimon, Head of Real Estate at Ardian, says: “We are very happy to have given a second wind to this iconic building. The lease signed with WPP and the sale to Amundi Immobilier, La Française Real Estate Partners and the Caisse d’assurance vieillesse des pharmaciens bear testament to the success of our joint project and the validation of our strategy.”

Beverley Shadbolt, Country Manager for France at LaSalle, continues: “We are delighted to announce this sale, which marks another decisive step in the redevelopment of West Bridge. The ambitious refurbishment program that we have been carrying out with Ardian since 2017 in an environment which has seen a shortage in the number offers for new assets explain the success of this investment. This transaction perfectly illustrates our expertise in projects with high value creation potential. We will continue to focus on restructuring and building developments in the established markets of the Paris region in the coming months.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 640 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT LASALLE INVESTMENT MANAGEMENT

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $67 billion of assets in private and public real estate property and debt investments as of Q2 2019. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk
LASALLE INVESTMENT MANAGEMENT
Patricia Crowley
Head of Corporate Communications, EMEA
+44 (0) 780 166 7547
patricia.crowley@lasalle.com

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Cision Ltd. Announces Agreement to Be Acquired by an Affiliate of Platinum Equity for $10.00 Per Share in All Cash Deal Valued at Approximately $2.74 Billion

Platinum

Transaction Provides Immediate Value for Shareholders Acquisition Expected to Close in Q1 2020

CHICAGO, Oct. 22, 2019 /PRNewswire/ — Cision Ltd. (NYSE: CISN), a leading global provider of software and services to public relations and marketing communications professionals, today announced that it has entered into a definitive agreement to be acquired by an affiliate of Platinum Equity in an all cash transaction valued at approximately $2.74 billion.

Under the terms of the agreement, which has been unanimously approved by the members of Cision Ltd.’s board of directors, an affiliate of Platinum Equity will acquire all of the outstanding ordinary shares of Cision Ltd. for $10.00 per share in cash. The purchase price represents a 34% premium over Cision Ltd.’s 60-day volume-weighted average price ended on October 21, 2019.

A special meeting of Cision Ltd.’s shareholders will be held as soon as practicable following the filing of a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and subsequent mailing to its shareholders.  Certain affiliates of GTCR, collectively holding approximately 34% of the outstanding shares of Cision Ltd., have entered into a voting agreement committing them to, among other things, vote in favor of adopting the acquisition agreement.  The proposed transaction is expected to close in the first quarter of 2020 and is subject to approval by Cision Ltd.’s shareholders, along with the satisfaction of customary closing conditions and antitrust regulatory approvals, as necessary. Upon completion of the acquisition, Cision Ltd. will become wholly owned by an affiliate of Platinum Equity.

Cision Ltd. may solicit alternative acquisition proposals from third parties during a “go-shop” period from the date of the agreement until November 12, 2019. There is no guarantee that this process will result in a superior proposal, and the agreement provides Platinum Equity with a customary right to match a superior proposal and termination fee if a superior proposal is accepted.  Cision Ltd. does not intend to disclose developments with respect to the solicitation process unless and until the company determines such disclosure is appropriate.

“This transaction will provide shareholders with immediate and substantial cash value, while also providing us with a partner that shares in our commitment to customers and employees and can add strategic and operational value,” said Kevin Akeroyd, Cision’s Chief Executive Officer. “Based on our extensive engagement with Platinum over the past several months, we are confident that Platinum’s support will enable Cision to execute on its strategy and next phase of growth.”

Commenting on the transaction, Platinum Equity Partner Jacob Kotzubei said: “Cision has a long history of leadership providing software and services to public relations and marketing communications professionals and has developed a growing portfolio of earned media management offerings for the world’s leading brands. Platinum looks forward to nurturing Cision’s core business, supporting and anticipating the diverse needs of the company’s customers, and driving new opportunities for innovation. As a private company, Cision will be able to make strategic investments for sustainable and profitable growth, while remaining agile and focused on operational excellence. We are excited to partner with Cision’s management team as it embarks on this new chapter.”

Cision Ltd. will file its quarterly report on Form 10-Q reporting its third quarter financial results but does not intend to host a quarterly earnings call.

Financing & Advisors
Equity financing will be provided by investment funds managed, advised or sponsored by Platinum Equity. Platinum Equity has secured committed debt financing for the transaction from Bank of America Merrill Lynch.

Rothschild & Co is serving as lead financial advisor to Cision and its Board of Directors. Centerview Partners LLC and Deutsche Bank Securities Inc. are also acting as financial advisors to Cision. Kirkland & Ellis LLP is acting as legal counsel to Cision, and Gibson, Dunn & Crutcher LLP is acting as M&A legal counsel and Willkie Farr & Gallagher LLP is acting as financing legal counsel to Platinum Equity.

For further information regarding the terms and conditions contained in the definitive merger agreement, please see Cision Ltd.’s Current Report on Form 8-K, which will be filed in connection with this transaction.

About Cision
Cision Ltd. (NYSE: CISN) is a leading global provider of earned media software and services to public relations and marketing communications professionals. Cision’s software allows users to identify key influencers, craft and distribute strategic content, and measure meaningful impact. Cision has over 4,800 employees with offices in 22 countries throughout the Americas, EMEA, and APAC. For more information about its award-winning products and services, including the Cision Communications Cloud®, visit www.cision.com and follow Cision on Twitter @Cision.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $19 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 250 acquisitions.

Forward-Looking Statements
Certain statements in this press release are forward-looking statements, including, without limitation, the statements made concerning the proposed transaction, and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “aim,” “potential,” “continue,” “ongoing,” “goal,” “can,” “seek,” “target” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. You should read any such forward-looking statements carefully, as they involve a number of risks, uncertainties and assumptions that may cause actual results to differ significantly from those projected or contemplated in any such forward-looking statement. Those risks, uncertainties and assumptions include: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, which may adversely affect the Company’s business and the price of the Company’s ordinary shares; (ii) the failure to satisfy any of the conditions to the consummation of the proposed transaction, including the authorization of the merger agreement by the Company’s shareholders and the receipt of certain regulatory approvals; (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement; (iv) the effect of the announcement or pendency of the proposed transaction on the Company’s business relationships, operating results and business generally; (v) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; (vi) risks related to diverting management’s attention from the Company’s ongoing business operations; (vii) the outcome of any legal proceedings that may be instituted against the Company related to the merger agreement or the proposed transaction, (viii) unexpected costs, charges or expenses resulting from the proposed transaction; (ix) uncertainties as to Platinum Equity’s ability to obtain financing in order to consummate the merger; and (x) other risks described in the Company’s filings with the SEC, such as its Annual Report on Form 10-K for the year ended December 31, 2018. Forward-looking statements speak only as of the date of this communication or the date of any document incorporated by reference in this document. Except as required by applicable law or regulation, the Company does not assume any obligation to update any such forward-looking statements whether as the result of new developments or otherwise.



Additional Information and Where to Find It
In connection with the proposed transaction, the Company will file with the Securities and Exchange Commission (the “SEC”) and furnish to the Company’s shareholders a proxy statement. BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S SHAREHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT (IF ANY) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and shareholders may obtain a free copy of documents filed by the Company with the SEC at the SEC’s website at http://www.sec.gov. In addition, investors and shareholders may obtain a free copy of the Company’s filings with the SEC from the Company’s website at http://investors.cision.com or by directing a written request to: Cision Ltd., Attn: Secretary, 130 E. Randolph St., 7th Floor, Chicago, IL 60601.

Participants in the Solicitation
The Company and certain of its directors, executive officers, and certain other members of management and employees of the Company may be deemed to be participants in the solicitation of proxies from shareholders of the Company in favor of the proposed merger. Information about directors and executive officers of the Company is set forth in the proxy statement for Cision’s 2019 annual general meeting of shareholders, as filed with the SEC on Schedule 14A on August 9, 2019. Additional information regarding the interests of these individuals and other persons who may be deemed to be participants in the solicitation will be included in the proxy statement with respect to the merger that the Company will file with the SEC and furnish to the Company’s shareholders.

Contacts:

Cision Ltd.:
Investor Contact:
Jack Pearlstein
Chief Financial Officer
Jack.Pearlstein@cision.com

Media Contact:
Jenn Deering Davis
VP, Communications
Jenn.Deering.Davis@cision.com

Platinum Equity:
Dan Whelan
Principal, Platinum Equity
dwhelan@platinumequity.com

SOURCE Cision Ltd. Group, Inc.

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

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Ardian Real Estate acquires an office building rue des Pyramides in Paris from Zaka Investments

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Ardian

Paris, October 21, 2019 – Ardian, a world-leading private investment house, announces today the acquisition of an office complex located at 14 rue des Pyramides, in Paris’ first arrondissement. This transaction is in line with Ardian Real Estate’s strategy to invest in commercial real estate assets with strong value creation potential.

The 3,800 m² Haussmann-style building consists of two interconnected five- and six-storey buildings, organized around a central courtyard. Very well located in the central business district, near the Opera House, the Tuileries Gardens and at the foot of Pyramides station (metro lines 14 and 7), this asset will be refurbished in order optimize the office spaces to prime market standards and offer new services to its future users.

Stéphanie Bensimon, Head of Ardian Real Estate, said: “We are delighted to have been able to acquire this building located in a very dynamic central district of Paris. This business district is one of the most sought-after European markets but with a lack of high quality offers. We look forward to implementing our strategy to redevelop the building, which will count 400 workstations in a modern and pleasant environment.”

LIST OF PARTICIPANTS

Buyer: Ardian
Buyer’s advisors: Victoires Notaires Associés, Linklaters
Architect: Architecture Studio
Seller’s advisors: L’Etude du 25
Broker: BNP

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 640 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT ZAKA INVESTMENTS

ZAKA Investments, a Parisian real estate company owned by Pierre Bastid’s Family Office, led by Romain Yzerman, has carried out some sixty transactions since 2012 for a total amount exceeding €900 million. Its Strength? A small team of about ten people, quasi-institutional resources with immediate entrepreneurial business decision-making capacity. Its expertise? Favour complex investments, internal control of the entire investment process: acquisition, financing, eviction, permits and project management, right up to marketing or sale.
Since its creation, Zaka Investments has already completed numerous institutional disposals (Generali, Macif Immo, Cardif, Sofidy, AEW…) of core & core plus restructured office buildings, as well as several valued portfolios of commercial properties. In addition, since 2014 Zaka Investments has been pursuing the real estate development of the hotel group “EVOK” with 4 5* luxury hotels already delivered and opened in Paris (“Nolinski” 3,200 m² in Av. de l’Opéra, “Brach” 6,000 m² in La Muette with Philippe Starck, “Sinner” 3,000 m² in rue du Temple and “Cour des Vosges” 800 m² in Place des Vosges), and will follow Venice, Madrid and Rome.

PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk

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BBS Automation acquires ReaLead and closes group financing

eqt

Following a successful EUR 140 million refinancing, EQT portfolio company BBS Automation steps up its ambitious consolidation strategy and closes its third add-on in one year; ReaLead, a founder-led Chinese automation business with strong growth momentum and complementary customer base.
Headquartered in Munich, Germany, BBS Automation (“BBS”) develops flexible and high-quality automation solutions for complex manufacturing and testing processes. With production sites in Germany, Italy, Poland, Slovakia, the US, China and Malaysia, BBS Automation supports a diverse network of blue-chip customers on a global scale. The EQT Mid Market Europe and EQT Mid Market Asia III funds jointly invested in BBS in May 2018 alongside the company’s founding families to support continued growth, both organically and through add-on acquisitions.

ReaLead is BBS’ third add-on under EQT’s ownership period and follows the acquisition of ANT Solutions, a Polish founder-led provider of digital factory solutions in November 2018 and TEAM (now BBS Winding), a founder-led Italian specialist for coil winding technology for e-engines in May 2019.
The recent EUR 140 million refinancing of BBS’ existing working capital and guarantee facility is set to provide sufficient financial headroom for increased organic growth and financial flexibility for further consolidation of the automation market.

BBS Automation and ReaLead – making use of EQT’s global platform
Founded by Kevin Nie in Kunshan, China, ReaLead is a fast-growing automation solutions provider with strong credentials, technical capabilities and high quality of services. The company has a longstanding track record of providing a diverse range of automation solutions, including die casting parts, electric vehicle parts and the company is one of the early entrants, and an important player, in the fast-growing 5G telecommunication space. With approximately 150 employees and an experienced technical team, ReaLead serves both Western blue chips as well as domestic Chinese customers.

By joining forces, BBS is ideally positioned to accelerate growth in Asia, and in particular, gain access to ReaLead’s Chinese customer base and country-wide manufacturing automation network. Furthermore, ReaLead is expected to enable BBS’ diversification into the Chinese 5G telecommunications space, while leveraging exposure to new potential customers through both BBS’ and EQT’s global platforms.

Josef Wildgruber, CEO of BBS Automation, commented: “The addition of ReaLead is well-aligned with our intention of strengthening our global network and increasing our Chinese presence to continue enabling our customers the best possible automation solutions and service. Kevin and our new Chinese colleagues are energetic and motivated, and we are excited to welcome them to the BBS family.”

Kevin Nie, Founder of ReaLead, added: “We are very excited to join BBS and take this next step in ReaLead’s evolution. This partnership will enable us to leverage on the technical know-how and successful experience of BBS, to improve our quality of offering and enable us to continue to drive value creation for our customers.”

Jerry He, Partner at EQT Partners and Investment Advisor to EQT Mid Market Asia III, concluded: “We are very happy to see that EQT’s dual-fund investment in BBS is off to a very good start with a track record of exciting strategic add-ons and excellent collaboration with the founding partners. This is a great example of how to leverage the strategic advantages of EQT’s global platform, which enables cross-continental teamwork and sharing of local know-how. The acquisition of ReaLead will broaden BBS’ offering, market competitiveness and customer access in the fast-growing Chinese market. Looking ahead, BBS will continue to leverage on the ‘local-with-local’ expertise of both EQT’s European and Asian teams and the global network of EQT Advisors.”

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Tosca to acquire Polymer Logistics

Apax

Addition of Polymer Logistics will enhance Tosca’s geographic and product diversification and build on strong innovation platform

Atlanta, Georgia, USA, October 16, 2019: Tosca, an innovator in reusable packaging and supply chain solutions in the United States, announced today that it has agreed to acquire Polymer Logistics (“Polymer”), an innovative company specializing in reusable transport packaging and retail merchandising systems in the United States and Europe, from a consortium of private investors.

Tosca to acquire Polymer Logistics

In conjunction with the transaction, funds advised by Apax Partners (the “Apax Funds”), which acquired Tosca in 2017, will commit additional capital to Tosca to fund the acquisition of Polymer. Terms of the transaction were not disclosed.

Tosca has a 60-year history of innovation that has driven its growth into a leading North American provider of reusable packaging and supply chain solutions across a wide array of markets. Today the company employs more than 950 people and operates 14 service centers across the US, working with the nation’s largest and most influential grocery retailers and suppliers to provide solutions for shipping perishables, reducing shrink and driving supply chain efficiency.

Founded in 1994, Polymer is a leader in retail ready packaging systems and technologies. The company provides reusable containers and other packaging and related services to grocery end markets, as well as retail, logistics and consumer goods customers. Its manufacturing operations are based in Israel and the company operates across the US, the UK and Continental Europe.

The acquisition of Polymer will expand Tosca’s geographic reach and increase its product portfolio. This will offer customers a stronger value proposition through increased network density, particularly in the US, and an expanded product offering.

Eric Frank, CEO of Tosca stated: “The acquisition of Polymer represents a major milestone in Tosca’s growth. Polymer is a leading RPC provider, with a broad international footprint, vertically integrated manufacturing operation, and a shared focus on innovation that will allow us to significantly enhance our geographic reach and offer customers an expanded product line to better meet their needs.”

Ashish Karandikar, Partner at Apax Partners, said: “We are excited to support Tosca in this transformational acquisition. Polymer has a strong track record of financial performance and a culture of innovation. The acquisition allows Tosca to access attractive markets outside of the US, while benefiting from scale, cross-selling opportunities, and collaboration on innovation.”

Gideon Feiner, Founder and CEO of Polymer Logistics, noted: “Tosca and Polymer have a shared commitment to service excellence, innovation and reducing waste throughout the supply chain. I am excited about the possibilities that will be created by our combined company and am looking forward to stepping into a new leadership role at the planned Cleanpal® unit.”

Following the close of the acquisition, Tosca intends to carve out Polymer’s Cleanpal® reusable pallets business as a separate unit within the company. Polymer Founder and CEO Gideon Feiner will assume the role of its CEO.

About Tosca 

Tosca is a leading provider of reusable packaging and supply chain solutions across a diverse range of products including eggs, case-ready meat, poultry, produce, and cheese. Our proven RPC system is a smarter way to move fresh product safely from source to shelf, substantially reducing shrink and labor cost, maintaining product quality, and optimizing overall supply chain efficiency for retailers, growers, and suppliers. For more information visit: www.toscaltd.com.

About Polymer

Polymer Logistics is a provider of Retail Returnable Packaging (“RRP”) solutions to leading retailers and suppliers mainly in the US, Continental Europe and the UK. It designs and supplies reusable RRP units that function as both transport storage containers/pallets and in-store displays. The Group is a provider of pool equipment services, supplying RRP units directly to retailers, or indirectly to major suppliers to retailers, through rental agreements. Both methods are aimed at establishing long term rental relationships with customers. Polymer Logistics is based in The Netherlands with subsidiaries in the UK, Italy, Israel, the US and branch offices in Spain and in Austria.

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 approximately $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 Tosca

Susan Heil, Tosca I +1 920 569 5335 I sheil@toscaltd.com

For Polymer Logistics

Shlomit Gotlib, Polymer Logistics I +97 2 54 6923064 I Shlomit.Gotlib@polymerlogistics.com

For 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

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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