Monthly Archives: October 2019

Kinnevik appoints Erika Söderberg Johnson as Chief Financial Officer

Kinnevik

1 Oct, 2019, 08:00 AM · Regulatory information

Kinnevik AB (publ) (“Kinnevik”), today announced that it has appointed Erika Söderberg Johnson as Chief Financial Officer. Erika Söderberg Johnson joins Kinnevik from Biotage where she has been CFO since 2012 and she will take up her position at the latest on 6 April 2020.

Georgi Ganev, CEO of Kinnevik, commented, “I am very pleased to welcome Erika to Kinnevik. She brings a wealth of experience including working as a CFO in fast growing listed medtech businesses, board work in Saab and Qliro Group and deep understanding of corporate finance from her early career in investment banking. I am confident that she will be a great addition to Kinnevik’s management team and add valuable insights to our portfolio companies.“

Prior to joining Biotage, Erika Söderberg Johnson was Chief Financial Officer at Karo Bio (2007-2011), Affibody (2005-2007) and Global Genomics (2002-2005) and she has been a board member of Sectra AB and MedCap AB. Erika Söderberg Johnson also worked ten years in Investment Banking and Corporate Finance at SEB Enskilda. She is a board member of publicly listed companies Saab AB (since 2017) and Qliro Group AB (since 2017). Erika Söderberg Johnson was born in 1970 and has a M.Sc. BA from Stockholm School of Economics.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build the digital consumer businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, invest in and lead fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building well governed companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

Categories: People

Ardian Infrastructure signs 10-year power purchasing agreement with Skellefteå Kraft

Ardian

Stockholm, 1st October 2019 – Ardian, a world-leading private investment house, and Skellefteå Kraft, the North Swedish municipal power company, today announced the signing of a 10-year green power purchase agreement (PPA). Financial details are not disclosed.

The PPA will see Skellefteå Kraft, one of Sweden’s largest energy producers, purchase approximately one third (250 GWh) of the wind power production of the Åndberg wind farm, located in Åndberg/Härjedalen, Sweden, for 10 years. This wind power amounts to the energy need of 50,000 electrically heated households in Sweden.

Ardian acquired the wind farm in February this year for €300 million. The wind farm, which is currently in construction in a project led by OX2 and will be ready in 2022, is one of the largest renewable energy developments in the Nordics, with capacity exceeding 280 MW. The Åndberg wind farm is one of three current wind power investments managed by Ardian’s new sustainable energy investment platform, eNordic.

Ardian Infrastructure’s portfolio in the Nordics, which already includes two wind farm investments in Norway and Sweden, will now exceed 400 MW of gross capacity, corresponding to the yearly energy consumption of more than 600,000 electric vehicles.

Eero Auranne, CEO, eNordic, says: “With this agreement we establish a long-term partnership with Skellefteå Kraft to supply locally generated green power to consumers. It demonstrates the value of strong local cooperation and the commercial viability of green energy. We look forward to continue working with Skellefteå Kraft as we build out our sustainable energy platform with further investments in the region”.

Simo Santavirta, Head of Asset Management, Ardian Infrastructure, says: “This achievement perfectly illustrates our hands-on asset management approach and the industrial expertise brought by eNordic, our local management team. As a leading investor in sustainable energy, we see significant growth potential in supporting the rapid transition currently underway in the Nordics”.

Stefan Forsgren Acting Business Area Director, Power Systems, Skellefteå Kraft, says: “As one of Sweden’s largest energy companies we have a huge responsibility to drive the transition towards a more sustainable society. We see investments into new windfarms as an important part of this transition and are excited to together with eNordic and Ardian make this new windfarm in Sweden a success, while at the same time ensuring that our customers get access to large sources of sustainable energy”.

eNordic, which is the Nordic’s first sustainable energy platform, brings together Ardian’s global investment expertise and transaction ability, with the sector knowledge and local experience of leading domestic executives Eero Auranne and Thomas Linnard.

Since 2007, Ardian Infrastructure has created a sustainable energy portfolio in nine countries around the world totaling 3 GW, including Skyline Renewables in the US (800 MW) and two joint-venture platforms in Italy (460 MW). Ardian Infrastructure’s investment in Kallista Energy, which Ardian sold in 2018, created one of the largest renewable energy platforms in France. Ardian is committed to fighting against climate change and actively seeks to reduce the greenhouse gas emissions of its portfolio companies with a view to build a sustainable economy.

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 620 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.

www.ardian.com

ABOUT ENORDIC

eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives.

Through a local, responsible and agile investment approach, eNordic enables the transformation of the energy sector through long-term partnerships with those that develop or operate sustainable energy projects in the Nordics.

It invests in opportunities in wind, biomass, hydro and district heating, in addition to traditional energy assets that have the potential to be transformed or managed in a particularly sustainable way.

eNordic is based in Sweden and Finland, with local teams operating throughout the Nordics region.

www.enordic.se

ABOUT SKELLEFTEÅ KRAFT

Skellefteå Kraft is one of Sweden’s largest energy producers, generating wind-power, water-power, heating and bio-energy. Our goal is a Sweden running on 100 % renewable energy. That is why we only sell 100 % renewable energy and put as much as we can into investments and research. It’s going to be alright.

PRESS CONTACTS

Ardian/eNordic
Headland
CARL LEIJONHUFVUD
cleijonhufvud@headlandconsultancy.com
+44 20 3805 4827
Skellefteå Kraft
Stefan Forsgren, Affärsområdeschef Kraftsystem, Skellefteå Kraft
stefan.forsgren@skekraft.se
+46 70-3404788

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Litorina invests in NN07

Litorina

Litorina acquires a majority stake in NN07, an international premium casual menswear brand. The acquisition creates a partnership with NN07’s founders and management as well as the previous majority owner, Fidelio, which all will remain as significant owners. By combining a strong value proposition, authentic and consistent brand DNA and high-quality products, NN07 has achieved strong profitable growth since its inception in 2007. Litorina will support NN07 on its continued international growth journey by leveraging previous experience from the premium menswear market.

NN07 was founded in Copenhagen in 2007 and is well-known for its popular chinos. The company has, by focusing on design, quality and fit, successfully established itself as a lifestyle brand with a complete product range, offering trousers, shirts, knitwear, jerseys and outerwear. Sustainability is core to NN07 and pervades all products as the company constantly strives to create timeless and durable clothes that stand the test of time.

NN07’s ability to refine classic menswear and create the originals of tomorrow with superior quality has led to loyal consumers and strong relationships with trade partners. NN07 has built close collaborations with leading local and global partners such as NK, Magasin, Care of Carl, Mr. Porter, Harvey Nichols, Liberty, Engelhorn, Konen, Bijenkorf and Nordstrom. Today, NN07 has sales in more than 40 countries with c. 75% originating from Scandinavia and c. 25% predominantly from UK, Germany, Benelux and USA.

To support in the international expansion and brand development, NN07’s board of directors will be strengthened with Fabian Månsson (former CEO H&M, Eddie Bauer, etc.) as the new chairman and Hans Davidson (former CEO of Eton) as a new director. Anders Cleemann (CEO of Muuto and former CEO of Peak Performance) will continue as a director.

“With its uncompromising focus on bringing high-quality premium menswear with a strong value proposition to the market, NN07 is well-positioned to continue its strong profitable growth journey. We have good experience from investing in the premium menswear sector, for example through our investment in the premium shirt company Eton, and we are pleased that NN07 has chosen Litorina as its partner. We are very impressed with the team at NN07 and what they have accomplished. The strong relationship NN07 has with strategic resellers constitutes a solid foundation for continued international expansion. Furthermore, NN07 has a loyal customer base due to its focus on providing quality products, leading to interesting opportunities in the digital arena”, says Gustav Thott, Partner at Litorina.

”The NN07 team is excited to partner with Litorina, a leading investor within consumer brands. We are growing strongly in Scandinavia, expanding internationally with premium retailers and strengthening our presence in the online landscape. Litorina, with its extensive knowledge, experience and network, will be a great support to the skilled team at NN07 on our fantastic growth journey”, says Tommy Holte, CEO at NN07.

 

For further information, please contact:

Tommy Holte, +45 29 61 46 26, CEO, NN07
Gustav Thott, +46 708 55 66 30, Partner, Litorina V Advisor

NN07 is a lifestyle brand built on the foundations of quality, attention to details and good craftmanship. From the headquarter in Copenhagen the team creates the originals of tomorrow through uncompromising fit, design and quality. NN07 products are sold internationally via NN07’s own website, concept stores, leading e-commerce retailers, department stores and retailers. For more information please visit www.nn07.com.

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. For more information, please visit www.litorina.se.

Fidelio is a Swedish investment company that primarily invests in non-public companies in Northern Europe. Our aim is to be an active owner that works closely with management to drive growth and create healthy and strong businesses. A combination of quick decision making and a flexible investment mandate enables us to be a long-term, flexible and pragmatic investor. In close collaboration with the management teams we help our portfolio companies by providing expertise, commitment and capital. For more information please visit www.fideliocapital.se

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Infravia launches Infravia Growth Fund and welcomes Alban WynieckiI,Guillaume Santamaria and Francois auquepre

InfraVia

A growth fund dedicated to tech and supporting the digitalization of infrastructure and the economy

Leveraging its experience and capabilities in infrastructure investments, InfraVia Capital Partners (“InfraVia”) announces the launch of InfraVia Growth Fund. While digital transformation is impacting the whole economy, including infrastructure, and brings infrastructure closer to the services economy, InfraVia intends to support tech companies at scale-up stage.

Established in 2008, InfraVia currently manages 4 infrastructure funds totaling €4bn of AUM and has invested in over 30 companies across Europe. A pioneer in European infrastructure, InfraVia was amongst the first investors in digital infrastructure such as data centers, fiber networks or telecom towers. Thanks to its deep knowledge of the ecosystem, InfraVia is launching a second business line focusing on growth investments with the aim to support tech companies that experience strong growth. “Our experience and skills are great assets to identify, assess and accelerate scale-up companies”said Vincent LEVITA, founder and CEO of InfraVia.

Like it does in most sectors, digital is disrupting infrastructure business models and usage. Digital tools and big data help reduce costs, improve efficiency, reduce risks and enable infrastructure assets to optimize their performance and converge towards the services economy. “Combining physical assets that are key for the economy and new technologies will lead to unprecedented opportunities in terms of growth and performance”,added Vincent Levita.

In order to support and benefit from this structural shift, InfraVia announces the launch of a fund dedicated to leading tech companies operating in sectors in which it has historically invested, such as mobility, logistics, telecom, utility, health and energy. “The sesectors are all affected by deep changes linked notably to the rise of new digital players who need significant capital to remain competitive on a global basis. We intend to help them, not only with funding but also through long-term operational support”Guillaume Santamaria, Partner InfraVia, commented
Targeting a size of €300m, with capital expected to come mostly from its existing institu-tional investors, InfraVia has the ambition to become a leading growth investor with theaim to support, accelerate and internationalize European fast-growing tech companies.The fund will focus on companies that have high growth potential and that are either profitable or nearing profitability.
To achieve its ambition in growth capital, InfraVia is building a dedicated team of seasoned professionals with solid backgrounds in technology, investment and the industrial sector.This 10-strong team will be led by its 3 partners: Alban Wyniecki, Guillaume Santamaria and François Auque.
“Guillaume, François and I are excited to leverage our joint experience (more than 50 deals in the past 5 years) to support and back tomorrow’s tech leaders, and we are veryhappy to join InfraVia’s partnership to deliver on that ambition”Alban Wyniecki, Partner InfraVia, added.
As underpinned in the recent Tibi report, only few French tech companies grow global and make it to the IPO stage, often by lack of sufficient late-stage funding. The French government recently formally showed its support to growth companies and called for French institutional investors to pledge significant capital to start-ups and scale-ups.The InfraVia Growth fund is precisely looking to capture part of this market opportunity. “Institutional investors are ready to support our initiative to back emerging champions in the tech space” François Auque, Partner InfraVia, commented. It is vital for France’s and Europe’s technological sovereignty going forward”.
ABOUT INFRAVIA CAPITAL PARTNERS
InfraVia is an independent investment firm specialized in infrastructure. Founded in 2008by Vincent LEVITA, InfraVia focuses on European mid-market infrastructure and has done32 investments across 12 European countries since its creation. As at October 2019, the company employs 34 professionals and has €4bn of assets under management across 4 funds.
www.infraviacapital.com
ABOUT ALBAN WYNIECKI
• 13 years of experience in investment firms (Partech, Idinvest Partners) and tech (Dassault Système)• Leader on more than 25 investments and board member of several companies (Klaxoon, Lumapps, Platform.sh, Secret Escapes…)• Leader on more than 15 M&A transactions at 3DS (Gemqom, Accelrys, RTT…)• Graduated from ENS and HEC
ABOUT GUILLAUME SANTAMARIA
• 13 years of experience in tech investment and M&A (Quilvest, Apparius, Idinvest Partners)• Leader on more than 35 M&A and fund-raising transactions, in particular in digital health (BioSerenity, Mdoloris, H4D…). Board member of several companies (M2I, Adjust,SophiaGenetics…)• Graduated from Sciences Po Bordeaux and HEC
ABOUT FRANÇOIS AUQUE
• Former Chairman of the Investment Committee at Airbus Ventures• Former CEO of the Space Division at Airbus• Former CFO of Aerospatiale and Aerospatiale-Matra• 30 ans of experience in the industrial sector (Airbus, EADS, Aerospatiale-Matra,Aerospatiale …) and 8 years of experience in Finance (Credisuez, Banque La Henin,Cour des Comptes)• Chairman of the Audit and Risk Committee of Rexel, Board Member of CyberArk• Graduated from HEC, Sciences Po and ENA

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Francisco Partners completes the sale of ClickSoftware to Salesforce for $1.4 Billion Enterprise Value

Franciso Partners

San Francisco and London – Francisco Partners, a leading technology-focused global private equity firm, today announced it has completed the sale of ClickSoftware (“Click”) to Salesforce (NYSE: CRM) for an enterprise value of $1.4 billion. Francisco Partners took Click private in 2015.

Click is a leading provider of field service management solutions and optimization technology. The company arms field service professionals and mobile workers with innovative, AI-driven technologies and real-time schedule and route optimization at scale to improve their efficiency and effectiveness. Founded in 1997, Click is a pioneer in applying complex algorithms and artificial intelligence to workforce management and today helps manage over 1 million field resources around the world in a wide variety of industries including for organizations like Bosch, Deutsche Telekom and Unisys.

“Over the years, Click has built a leading product and a very strong market position. We are very proud to have been part of the company’s journey and wish all its employees continued success as part of Salesforce,” said Matt Spetzler, partner at Francisco Partners. “It has been a pleasure to partner with the Click team for these last four years and help them become a true global leader in Field Service Management,” commented Petri Oksanen, partner at Francisco Partners.

“The Click team has built an incredible company. We believe they are very well positioned for continued success as part of Salesforce,” added Mario Razzini, principal at Francisco Partners.

“Francisco Partners was a great partner for Click over the last few years,” said Mark Cattini, CEO of ClickSoftware. “Their strategic advice and the resources they contributed helped us improve many aspects of our business and accelerate revenue growth.”

“This is a fantastic outcome for ClickSoftware and Francisco Partners,” said Dipanjan Deb, Co-Founder and Chief Executive Officer of Francisco Partners. “Our investment in Click is a testament to our strategy of complexity arbitrage: we bought an orphaned public company, committed the full resources of the firm to improve the business across multiple dimensions, and ultimately sold to a strategic buyer.”

Goldman Sachs acted as the exclusive financial advisor and Paul Hastings acted as legal advisor to Francisco Partners.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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Dyne Therapeutics announces appointment of Joshua Brumm as President and Chief Executive Office

Forbion

in portfolio news

Industry veteran brings extensive experience leading biotech companies through periods of growth.

WALTHAM, Mass.– Dyne Therapeutics, a biotechnology company pioneering targeted therapies for patients with serious muscle diseases, today announced the appointment of Joshua Brumm as President and Chief Executive Officer.

“Josh brings extraordinary skills and experience to further our mission of creating life-transforming therapies for patients with serious muscle diseases,” said Jason Rhodes, partner with Atlas Venture and Dyne founder and executive chairman of the board of directors. “This positions us strongly to pursue the next phase of growth and product development, and we are thrilled to have him joining us.”

“Dyne’s FORCE therapeutic platform achieves a unique combination of tissue-specific delivery, high potency and tolerability to enable a broad product pipeline,” said Joshua Brumm. “I look forward to working closely with the board and talented team at Dyne to maximize the potential of our platform by advancing our pipeline and exploring new partnerships.”
“On behalf of everyone here, I am excited to welcome Josh,” said Romesh Subramanian, Dyne founder and chief scientific officer. “We look forward to working together to realize the therapeutic power of oligonucleotides for patients with rare muscle diseases and fulfilling Dyne’s mission.”

Prior to joining Dyne, Mr. Brumm served as chief operating officer and chief financial officer of Kaleido Biosciences, where he led the company’s financings including its initial public offering and helped bring the lead program into Phase 2 development. Prior to joining Kaleido, Mr. Brumm was COO and CFO at Versartis, where he oversaw the company’s financial strategy including the successful completion of its IPO, played an integral role in product strategy, and helped negotiate the company’s first product partnership. His previous roles include serving as executive vice president of finance and principal financial officer at Pharmacyclics; CFO at ZELTIQ Aesthetics, where he led the company through its initial public offering, led the international product launch for CoolSculpting and also served in corporate development; and director of finance at Proteolix, Inc., assisting in the sale of the company to Onyx Pharmaceuticals. He also held investment banking roles at Citigroup Global Markets, Inc. and Morgan Stanley. Over the course of his career, Mr. Brumm has raised approximately $1 billion in capital. In 2014, he was named Silicon Valley Business Journal’s CFO of the Year for companies under $500 million. He holds a B.A. in business administration from the University of Notre Dame.

About Dyne Therapeutics
Dyne Therapeutics is pioneering life-transforming therapies for patients with serious muscle diseases. The company’s FORCE™ platform delivers oligonucleotides and other molecules to skeletal, cardiac and smooth muscle with unprecedented precision to restore muscle health. Dyne is advancing treatments for myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD), and facioscapulohumeral muscular dystrophy (FSHD). Dyne was founded in 2018 and is based in Waltham, Mass.

For more information, please visit www.dyne-tx.com.
Media Contact Ten Bridge Communications Max Stendahl, 508-277-8117 max@tenbridgecommunications.com

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Divestiture of Aleris completed

Investor

Divestiture of Aleris completed Patricia Industries, a part of Investor AB, has following regulatory approval today completed the divestiture of Aleris to Triton. As announced on July 12, 2019, net cash proceeds are estimated to SEK 2bn. Following the completion of this divestiture, Patricia Industries no longer retains any ownership in Aleris. Doktor24, remains within Patricia Industries’ Financial Investments.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability Phone +46 70 550 3500 viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor RelationsPhone +46 735 24 2130 magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include among others ABB, Atlas Copco, Ericsson, Mölnlyckeand SEB. Investor AB Arsenalsgatan 8C, SE-103 32 Stockholm, Sweden+46 8 614 20 00 www.investorab.com

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The Carlyle Group Launches Boru Energy With Oil Industry Veterans Aidan Heavey and Tom Hickey

Carlyle

Boru Energy will target acquisitions of up to $1 billion, focussing on oil and gas opportunities across Sub-Saharan Africa

LONDON – Global investment firm, The Carlyle Group (NASDAQ:CG), announced today that it has agreed to partner with Aidan Heavey and Tom Hickey, through Boru Energy, a new platform that will target acquisitions of oil & gas assets across Sub-Saharan Africa. Aidan Heavey and Tom Hickey are well-regarded industry veterans with extensive investment experience investing in African oil & gas assets.

Boru Energy’s investment goal will be to assemble a portfolio of primarily non-operated interests in oil & gas production assets. The potential portfolio will be spread across several Sub-Saharan Africa countries and will consist of assets with significant commercialisation potential and where the operator is a high quality national, international or independent oil and gas company.

Funding for potential investments will come from Carlyle International Energy Partners, L.P. (CIEP), a fund that focuses on oil and gas exploration & production, midstream, and refining and marketing in Europe, Africa, Latin America and Asia. CIEP first invested in Africa in 2017, when Carlyle-backed Assala Energy acquired Shell’s onshore assets in Gabon. Boru Energy will benefit from the strong experience and industry expertise Carlyle has in this region and globally. This investment is led by Managing Director and Head of CIEP Marcel van Poecke and Managing Director Bob Maguire.

Aidan Heavey is the founder and former Chairman and CEO of Tullow Oil PLC, an Africa-focused exploration and production company listed on the London Stock Exchange. Under Heavey’s leadership, Tullow grew into a FTSE 100 company with production of over 80,000 barrels of oil equivalent per day. Tom Hickey was CFO of Tullow Oil between 2000 and 2008, where he worked closely with Mr Heavey, and has since held various management positions in the oil & gas industry.

Marcel van Poecke, Managing Director, and Head of the CIEP team, said: “Carlyle are pleased to partner with Aidan Heavey and Tom Hickey, both of whom have proven track records of successfully growing significant energy investments.  We look forward to providing them with support and capabilities in order to help Boru Energy as it builds a successful platform for investing in oil & gas opportunities across Sub-Saharan Africa.”

Aidan Heavey commented: “Boru Energy will build on our team’s experience and commitment to investing in Africa.  We will seek to invest to secure and increase production levels, extend field life cycles and support partners and governments to achieve long term, sustainable growth and create value.  We are committed to achieving best-in-class safety, environmental, social performance and transparent stakeholder partnerships. We look forward to working with Carlyle, future industry partners and our team on this exciting opportunity.”
For More Information:

The Carlyle Group:
Rory Macmillan
Roderick.Macmillan@carlyle.com
+44 (0) 207 894 1630

 

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. www.carlyle.com

About Carlyle’s Energy Platform

Carlyle has constructed a broad-based global energy, natural resources and infrastructure platform (currently with $27 billion in assets under management and 95 active portfolio companies), consisting of International Energy, North American Energy, North American Power and Global Infrastructure.

About CIEP

Established in May 2013, the CIEP team focuses on oil and gas exploration and production mid- & downstream, refining and marketing and oil field services in Europe, Africa, Latin America and Asia. The CIEP team focuses on transactions where it has a distinctive competitive advantage and can create tangible value for companies in which it invests, through industry specialization, deployment of human capital and access to The Carlyle Group’s global network. The team operates primarily from offices in London while leveraging Carlyle’s local offices to pursue opportunities across Europe, Africa, Asia and Latin America and is reinforced by The Carlyle Group’s regional fund teams and global investment professionals.

The CIEP team consists of 16 investment professionals, all with extensive international oil and gas industry investment and operational expertise. In addition to Marcel van Poecke, it includes Managing Directors Bob Maguire and Joost Dröge, both industry veterans with 55 years’ combined successful energy investing experience, as well as Paddy Spink, Senior Advisor to CIEP, with 35 years’ upstream experience in Africa, Latin America & Europe.

About Aidan Heavey

During his 33-year tenure at Tullow, Heavey developed Tullow into a company that maintains 80 exploration and production licenses in 15 countries in South America and Africa. Tullow is listed on the London, Irish, and Ghana Stock Exchanges. In 2017, Heavey stepped down as CEO of Tullow; however, he remained chairman until July 2018.

Tullow expanded in the 2000s through a series of acquisitions, most prominently the acquisition of Energy Africa in 2004, which doubled the company’s size by expanding Tullow’s production and exploration capabilities across Africa. In 2007, Tullow discovered and began production at the Jubilee oilfield—one of the largest oilfields in Africa—off the coast of Ghana. The company has continued to grow and had an exploration success rate of 70 percent, most recently offshore Guyana.

About Tom Hickey

Tom Hickey is an experienced oil & gas executive with more than 20 years of experience, including more than 10 years serving as a CFO at oil and gas exploration and production companies. From 2000 to 2008, Hickey was the CFO of London-headquartered E&P company Tullow. While at Tullow, Hickey oversaw the company’s USD 1.1 billion acquisition of Hardman Resources in 2007 and USD 570 million acquisition of Energy Africa in 2004. From 2011 to 2016, Hickey served as the corporate development officer and CFO of the Dublin-headquartered oil and gas exploration and production company PetroCeltic International PLC.

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Mainstay Medical announces acceptance for filing by US FDA of Pre-Market Approval (PMA) Application for ReActiv8

Capricorn

Dublin, Ireland: 1 October 2019 – Mainstay Medical International plc (Euronext Paris: MSTY.PA and Euronext Growth of Euronext Dublin: MSTY.IE), a medical device company focused on bringing to market ReActiv8®, an implantable neurostimulation system to treat disabling Chronic Low Back Pain, today announces that the U.S. Food and Drug Administration (FDA) has accepted for filing the Company’s Pre-Market Approval (PMA) application for ReActiv8.

Mainstay submitted the PMA to the FDA in August. Per regulation, the FDA will notify the applicant whether the PMA has been accepted for filing within 45 days after submission. By accepting the Company’s PMA for filing, the FDA has made a threshold determination that the application is sufficiently complete to begin an in-depth review. Mainstay continues to expect a decision on approval around the end of 2020.

More information on Mainstay’s website.

 

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AURELIUS closes acquisition of BT Fleet Solutions from BT Group Plc

Aurelius Capital

  • Acquisition of the UK’s #1 commercial fleet management business delivering a comprehensive suite of services to blue chip customers, via its national network completed
  • Recent contract wins worth GBP 43 million
  • UK continues to be an attractive market for AURELIUS

Munich / London, 1. October 2019 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has completed the acquisition of industry leading end-to-end commercial fleet management operator, BT Fleet Solutions from BT Group Plc, with effect from 30 September 2019.

Headquartered in Solihull, BT Fleet Solutions offers a comprehensive suite of fleet management services across all stages of the vehicle life cycle, through its network of 65 in-house garages, 500 partner facilities and 50+ mobile technicians. Established in 2002, BT Fleet Solutions employs around 950 staff around the UK, and manages more than 80,000 vehicles for over 26 blue chip customers across diversified industries. The latest published statutory accounts for 2017/18 for BT Fleet Ltd show revenues of GBP 209.5 million and its industry leading position leaves it well placed to capture the high levels of growth available in the UK’s fleet management market.

BT Fleet Solutions has recently signed two significant contract wins, as follows:

  • A 5+2 year contract with construction company Kier Group to manage all passenger and commercial vehicle fleet services on an outsourced basis, including vehicle maintenance, accident management and invoice management. The contract is due to go live in December 2019 with a value of GBP 39 million to BT Fleet Solutions.
  • A 30-month contract with Highways England to provide fleet maintenance and management services to its fleet of around 420 vehicles. The contract value to BT Fleet Solutions is GBP 4 million.

“We see substantial growth potential for BT Fleet in the British market and we are looking forward to realizing this potential together with the company’s management and team,“ said Dr. Dirk Markus, Chief Executive Officer of the AURELIUS Group. “The United Kingdom will continue to be an attractive market for us in the future as well. Brexit and the related uncertainty are creating special opportunities from which investors like us can benefit.“

The divestment of BT Fleet Solutions aligns with BT’s ongoing transformation programme and strategy of focusing on converged connectivity and services, with further investments in both its fixed and mobile networks via programmes such as full fibre and 5G.
This deal represents another example of AURELIUS’ specialism in complex divestment processes. In the coming months, AURELIUS’ operational task force will support BT Fleet Solutions in executing a carve out from BT, ensuring a seamless continuation of the company’s day to day operations, whilst working to position the business as an independent entity. The company is expected to be rebranded within the next 12 months.

 

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