Monthly Archives: December 2019

EQT Infrastructure enters into a Scheme Implementation Agreement with Metlifecare

eqt

  • Asia Pacific Village Group Limited (“APVG”), an entity owned by EQT Infrastructure IV fund and managed by EQT Fund Management S.à r.l. (“EQT Infrastructure IV”) has entered into a Scheme Implementation Agreement (“SIA”) with Metlifecare, to acquire 100% of Metlifecare shares by way of a scheme of arrangement (“Scheme”), subject to certain conditions.
  • Transaction consideration of NZ$7.00 per share (“Offer Price”), giving a total consideration of approximately NZ$1.5 billion (“Consideration”).
  • Offer Price represents a premium of 38% to Metlifecare’s closing share price of NZ$5.08 per share on 19 November 2019, the closing price prior to the announcement of EQT Infrastructure IV initial indicative non-binding offer, and represents a 1.0x P / NTA[1].
  • APVG has entered into a voting deed with Metlifecare’s largest shareholder, New Zealand Superannuation Fund Nominees Limited (“NZSF”), which holds 19.86% of Metlifecare’s shares.
  • Certain other Metlifecare shareholders collectively representing approximately 22% of the register have indicated to EQT Infrastructure IV their current intention to vote in favor of the Scheme, in the absence of a superior proposal.

Auckland, New Zealand. APVG, an entity owned by EQT Infrastructure IV has entered into a Scheme Implementation Agreement (“SIA”) with Metlifecare, to acquire 100% of Metlifecare shares by way of a scheme of arrangement (“Scheme”), subject to certain conditions.

APVG has entered into a voting deed with Metlifecare’s largest shareholder, New Zealand Superannuation Fund Nominees Limited (“NZSF”), which holds 19.86% of Metlifecare’s shares.  Under the voting deed NZSF has agreed, among other things, to vote in favour of the Scheme subject to certain terms and conditions.  A copy of that voting deed has been released to the market through the substantial product holder notice issued by APVG and EQT Infrastructure IV.

In addition, Metlifecare shareholders collectively representing approximately 22% of the register have indicated to EQT Infrastructure IV their current intention to vote in favour of the Scheme, in the absence of a superior proposal.

Metlifecare is a leading New Zealand owner and operator of retirement villages, providing rewarding lifestyles and outstanding care to more than 5,600 New Zealanders. Established in 1984, it currently owns and operates a portfolio of 25 villages in areas with strong local economies, supportive demographics and high median house prices, located predominantly in New Zealand’s upper North Island.

EQT is a differentiated global investment organization that invests in good companies across the world with a mission to help them develop into great and sustainable companies. By providing access to ownership skills and operational expertise, EQT helps acquired companies grow and prosper. Development and growth are at the core of the value creation, with digitalization and sustainability being key future-proofing drivers. Portfolio companies owned by the funds of EQT have, on average, increased sales by 12%, the number of employees by 10% and profitability by 11% per annum during the funds’ ownership.

Fabian Gröne, Partner at EQT Partners and Investment Advisor to EQT Infrastructure IV, said: “We are delighted about the opportunity to partner with Metlifecare and are fully committed to supporting Metlifecare and its management team to embark on this exciting journey to develop and operate high-quality retirement villages and continue to provide the exceptional care to New Zealanders which Metlifecare is known for.”

EQT Infrastructure IV will be funding the Consideration and has total committed capital of EUR 9 billion.

The transaction will be implemented by a scheme of arrangement, a court-supervised process under which a meeting of shareholders will be held to vote on the transaction.

Scheme Implementation Agreement

The Scheme is subject to customary conditions including shareholder approval, High Court approval and Overseas Investment Office consent and no Material Adverse Change (as defined in the SIA). It is currently contemplated that the Scheme will be implemented in May 2020.

The Scheme also contains customary exclusivity provisions in favour of APVG, including “no shop, no talk and no due diligence” restrictions. These restrictions are subject to exclusions which permit the Metlifecare Board to engage on a competing proposal which is (or is reasonably capable of becoming) a superior proposal, subject to prior notifications being made to EQT Infrastructure IV and to EQT Infrastructure IV’s right to match any such proposal.

EQT Infrastructure IV is being advised by Goldman Sachs and Bell Gully.

With this transaction, EQT Infrastructure IV is expected to be 55-60 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), subject to shareholder and Court approval.

Contact
International media inquiries: EQT Press Office press@eqtpartners.com +46 8 506 55 334
New Zealand media inquiries: David Lewis david@thompsonlewis.co.nz +64 21 976 119
Australian media inquiries: Jim Kelly jim@domestiqueconsulting.com.au +61 412 549 083

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

EQT has extensive experience and an excellent track record in the healthcare sector and is one of the largest private equity investors in the healthcare sector in Europe with an unparalleled network of advisors within the EQT Network. Some of EQT’s notable investments in the sector include Charleston, a buy-and-build strategy in the German nursing home care market, and I-MED, a leading diagnostic imaging provider in Australia.

More info: www.eqtgroup.com
Follow EQT on Twitter and Linkedin

About Metlifecare
Metlifecare is a leading New Zealand owner and operator of retirement villages, providing rewarding lifestyles and outstanding care to more than 5,600 New Zealanders. Established in 1984, it currently owns and operates a portfolio of 25 villages in areas with strong local economies, supportive demographics and high median house prices, located predominantly in New Zealand’s upper North Island.

More info: www.metlifecare.co.nz

[1] Net Tangible Assets (“NTA”) of NZ$6.96 per share as of 30 June 2019.

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Metro Pacific Hospitals Completes Investment by KKR

KKR

MANILA, Philippines–(BUSINESS WIRE)–Dec. 8, 2019– Metro Pacific Investments Corporation (“MPIC”) (PSE: MPI), global investment firm KKR, and GIC, Singapore’s sovereign wealth fund, today announced the completion of investments in Metro Pacific Hospital Holdings, Inc. (“Metro Pacific Hospitals” or the “Company”) by KKR and an affiliate of GIC (“GIC”). These were made through a series of transactions in common shares in Metro Pacific Hospitals and in mandatorily exchangeable bonds issued by MPIC.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191208005083/en/

Proceeds from the sale of shares in the Company will be used to support Metro Pacific Hospitals’ potential investments in additional hospitals and new healthcare businesses. The capital will also be used to grow the Company’s existing subsidiaries, associates, and joint ventures.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenues, with interests in 14 hospitals and approximately 3,200 beds across the country. The Company is focused on delivering high-quality healthcare solutions to patients at a time when more Filipinos are seeking premium medical services, driven by rising per capita incomes and rapid urbanization.

Manuel V. Pangilinan, Chairman of MPIC and Metro Pacific Hospitals, said, “We welcome KKR and GIC as investors who not only have established track records of helping healthcare companies to meet their growth ambitions, but also have full confidence in Metro Pacific Hospitals’ potential to provide even more critical healthcare services to patients across the Philippines. Today marks the start of a new and exciting chapter for Metro Pacific Hospitals.”

Augusto P. Palisoc Jr., President & CEO of Metro Pacific Hospitals, added, “The Philippine healthcare industry is poised for tremendous growth given the increasing demand for hospitals, clinics, and facilities that provide premium medical services. With this new investment, coupled with the expertise that KKR and GIC bring to Metro Pacific Hospitals, we will be in an even stronger position to meet patients’ needs and capture new opportunities through organic expansion, acquisitions and investments, and the adoption of new technologies.”

Jose Ma. K. Lim, President and CEO of MPIC, said, “The MPIC team is proud of Metro Pacific Hospitals and is pleased to have created and grown one of the largest and strongest hospital groups in the Philippines. We anticipate Metro Pacific Hospitals will continue to go from strength to strength alongside KKR and GIC, and we look forward to continuing our long-term partnership with the whole Metro Pacific team.”

Ashish Shastry, Co-Head of Asia Pacific Private Equity and Head of Southeast Asia at KKR, said, “Metro Pacific Hospitals is a world-class healthcare institution with a terrific team of doctors and medical practitioners who play a critical role in the lives of millions. We are excited to begin our work alongside this excellent team and look forward to supporting Metro Pacific Hospitals’ continued growth and development for healthcare providers and patients in the years to come.”

KKR made its investment from its flagship Asian Fund III.

About Metro Pacific Investments Corporation

Metro Pacific Investment Corporation is a publicly-listed, infrastructure investment firm in the Philippines, with holdings in Manila Electric Company, Global Business Power, Maynilad Water Services, Inc. and Metro Pacific Tollways Corporation. MPIC also holds investments in MPHHI, the Light Rail Manila Company and Metropac Movers Inc.

About Metro Pacific Hospital Holdings, Inc.

Metro Pacific Hospitals is the operator of the largest private hospitals and healthcare network in the Philippines in terms of authorized bed capacity and revenue, with interests in 14 hospitals nationwide, including eight hospitals in Metro Manila. The Company also has interests in an eight primary care clinics and eight cancer care centers, among other investments in allied healthcare services.

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 GIC

GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide.

For more information about GIC, please visit www.gic.com.sg or follow us on LinkedIn.

Source: KKR

Media:

For MPIC & Metro Pacific Hospitals:

David J. Nicol
EVP & Chief Financial Officer
Tel: +632 8888 0888

Augusto P. Palisoc, Jr.
CEO of MPHHI
Tel: +632 8888 0888

Melody M. Del Rosario
VP, PR & Corp. Comms.
Tel. +632 8888 0888

For KKR:

KKR Asia Pacific
Anita Davis
+852 3602 7335
anita.davis@kkr.com

KKR Americas

Kristi Huller & Cara Major
+1 212 750 8300
media@kkr.com

For GIC:

Mah Lay Choon
Senior Vice President
Corporate Affairs & Communications
+65 6889 6841
mahlaychoon@gic.com.sg

Wei Jun Ong
Associate
Corporate Affairs & Communications
+65 6889 8340
ongweijun@gic.com.sg

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Van Vulpen teams up with Mentha Capital

Mentha Capital

Mentha Capital has acquired a majority interest in Van Vulpen, a leading and innovative contractor in the installation and adaptation of various types of networks used for the transport and distribution of water, electricity, data and gas. The transaction has been approved by the ACM (the Dutch competition authority). In collaboration with Mentha, Van Vulpen strives to continue its existing high levels of quality and achieve further growth and innovation in the installation of underground infrastructure networks.

In the past 20 years, Van Vulpen has become a leading player in the construction of underground infrastructure networks. In addition, Van Vulpen has become more and more specialized in carrying out Horizontal Directional Drilling (HDD), which allows it to lay underground pipes and cables over large distances with a minimal impact on the environment.

This year, Van Vulpen commissioned the world’s first electric drilling rig in the maxi segment. The first drillings have now been successfully completed, with substantially lower emissions and greatly reduced environmental nuisance in terms of noise as compared to conventional techniques. In 2019 Van Vulpen expects to achieve a turnover of approximately € 85 million; and including its flexible base of subcontractors and self-employed, it employs around 450 workers.

Managing Director Arjan de Nijs will continue to be actively involved with the company in the coming years, both as the person retaining ultimate responsibility and as co-shareholder.

Mentha Capital invests in established, profitable companies with clear potential for expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participations, active in various end-markets.

Arjan de Nijs, Van Vulpen: “I am convinced that this step takes Van Vulpen further in the direction in which it has embarked. In the field of innovation, controlled growth, but also corporate culture, Mentha and Van Vulpen understand each other very well, which gives me confidence in this partnership going forward.”

Gijs Botman, Mentha Capital: “We are very impressed with what Van Vulpen has managed to achieve as a company in the last 20 years. Moreover, we are convinced that Mentha and Van Vulpen are closely aligned in terms of their character and DNA, and we share the ambition and enthusiasm to continue to build this magnificent company.”

 

For more information:

Information on Van Vulpen: https://vanvulpen.eu/ Information on Mentha Capital: www.menthacapital.com  For any other questions, please contact Mark van Ingen of Mentha Capital on +31 (0) 20 636 31 40 or info@menthacapital.com

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KKR to Acquire Significant Stake in Canada’s Coastal GasLink Pipeline Project

KKR

CALGARY, Alberta & NEW YORK–(BUSINESS WIRE)–Dec. 26, 2019– KKR, a leading global investment firm, today announced the signing of a definitive agreement to acquire, alongside Alberta Investment Management Corporation (AIMCo), a 65 percent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project) from TC Energy Corporation.

Coastal GasLink involves the estimated CAD $6.6 billion construction of 670 kilometers (416 miles) of natural gas pipeline and associated facilities. Once completed, the pipeline will have an initial capacity of 2.1 billion cubic feet per day and connect abundant Western Canadian Sedimentary Basin natural gas supply from the Dawson Creek, B.C. area to the LNG Canada liquefaction and export facility being constructed in Kitimat, B.C. By displacing coal and diesel-fueled generation with cleaner burning natural gas, LNG Canada expects to reduce global GHG emissions by up to 60-90 million tonnes per year, equivalent to 20-40 coal plants being shut down.

All necessary regulatory permits have been received for the Project and construction activities have commenced. Coastal GasLink is backed by 25 year Transportation Service Agreements with the five LNG Canada owners.

“We are excited to partner with TC Energy, a world class infrastructure developer, on this critical project,” said Brandon Freiman, Member and Head of North American Infrastructure at KKR. “Coastal GasLink represents our third investment in infrastructure supporting Canada’s natural gas industry. We believe the export of Canadian natural gas to global markets will deliver significant benefits for the Canadian economy and local communities in Western Canada, and enable meaningful progress toward reducing global emissions.”

KKR is making the investment primarily through a separately managed infrastructure account in partnership with the National Pension Service of Korea (NPS).

HSBC Securities (Canada) Inc. and TD Securities Inc. are serving as financial advisors to KKR, and Osler, Hoskin & Harcourt LLP is acting as KKR’s legal counsel.

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 NPS

NPS is a public pension fund in South Korea with assets under management of KRW 714.3 trillion ($620 billion) as at September 30, 2019. Established in 1988, the purpose of the fund is to maximize investment return while maintaining long-term fiscal stability to stabilize and promote public livelihood and welfare in Korea. With a distinct risk-return profile from traditional asset classes, alternative investments portfolio of NPS has contributed to generating sustainable returns for the total portfolio. NPS is headquartered in Korea and has 3 overseas offices in New York, London, and Singapore. For more information about NPS, please visit fund.nps.or.kr.

Source: KKR

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

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KKR to Acquire Leading Digital Reading Platform OverDrive

KKR

NEW YORK–(BUSINESS WIRE)–Dec. 24, 2019– KKR, a leading global investment firm, today announced the signing of a definitive agreement to acquire OverDrive, Inc. (“OverDrive” or the “Company”), the leading digital reading platform for libraries and schools, from Rakuten USA, a wholly owned subsidiary of Rakuten, Inc. Financial details of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191224005160/en/

Serving a growing network of 43,000 libraries and schools in more than 75 countries, OverDrive delivers the industry’s largest catalog of ebooks, audiobooks, magazines and other digital media to millions of readers around the world. With its proprietary platform, the Company securely allows these institutions to acquire and manage premium and differentiated digital content from a strong publisher network OverDrive has built over more than 25 years.

“KKR is delighted to be investing in OverDrive, a premier digital content platform that serves libraries and library patrons around the world,” said Richard Sarnoff, Member at KKR. “OverDrive provides digital tools and services to libraries and schools so that they can lend the widest variety of digital books, audiobooks, and other materials, while at the same time respecting and compensating authors and publishers through the widest range of access models. It is a privilege to work with an industry leading team, including founder and CEO Steve Potash, on growing this special franchise in the decade to come.”

“At a time of accelerating digital adoption throughout libraries and schools, OverDrive offers its growing user base a best-in-class technology platform and reading experience – something we’re excited to be a part of,” said Ted Oberwager, Managing Director at KKR. “We look forward to working with the Company to further grow its portfolio and network, and continue to build on its status as a recognized leader in the digital content space.”

“OverDrive is very excited to work with the world-class KKR team due to their track record of accelerating digital media and technology businesses in global markets,” said Steve Potash, founder and CEO of OverDrive. “This provides access to an extraordinary network of capabilities to empower our institutional partners for the benefit of the communities and readers they serve.”

KKR has a long history of successfully investing in market-leading businesses in the digital media and content sectors. KKR’s recent and related investments include Epic Games, AppLovin, RBmedia, Pandora, WebMD, UFC, Leonine, BMG Rights Management, Next Issue Media, and Nielsen, among others.

KKR is making the investment in OverDrive from its KKR Americas XII Fund.

Goldman Sachs & Co. LLC and LionTree Advisors served as financial advisors to KKR and Simpson Thacher and Bartlett served as legal advisor to KKR.

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 OverDrive

OverDrive is the leading digital reading platform for libraries and schools worldwide. Named one of PCMag’s Best Free Software of 2019 and one of TIME’s Best Apps of 2018, the award-winning Libby is the “one-tap reading app” for libraries. Sora, the student reading app, was honored as one of TIME’s Best Inventions of 2019. We are dedicated to “a world enlightened by reading” by delivering the industry’s largest catalog of ebooks, audiobooks, magazines and other digital media to a growing network of 43,000 libraries and schools in 76 countries. Founded in 1986, OverDrive is based in Cleveland, Ohio USA. www.overdrive.com

Source: KKR

KKR:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

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Update on Rastreator and Acierto

Oakley

Oakley Capital (“Oakley”) previously announced in May 2019 the proposed acquisition of Rastreator and Acierto, two leading price comparison businesses in Spain.

The two deals were signed conditional upon achieving competition clearance. Due to challenges in completing the transaction within a reasonable time frame, predominantly relating to antitrust complexity Oakley and its JV partners have decided not to proceed and therefore neither transaction will now complete.

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KKR Enters Seattle Real Estate Market

KKR

Firm Closes on Two Real Estate Transactions in the Greater Seattle Region

NEW YORK–(BUSINESS WIRE)–Dec. 23, 2019– KKR, a leading global investment firm, today announced the closing of two real estate transactions totaling over $1.2 billion located in the greater Seattle region, including the Summit located in downtown Bellevue and the F5 Tower in downtown Seattle.

The Summit is a 915,000-square-foot Class A office complex in the Bellevue central business district. The complex is 99% leased, and is comprised of two existing LEED Platinum office buildings and a third building currently under construction, expected to be completed in Q3 2020. The properties are well located in the heart of the central business district, one block from the Bellevue Transit Center and the Bellevue Downtown Light Rail Station opening in 2023.

F5 Tower is a recently completed 43-story tower in the Seattle central business district, which includes the 100% leased 516,000-square-foot office condominium acquired by KKR alongside a separate 189-room luxury hotel. The property is architecturally significant to the Seattle skyline and home to F5 Networks as their global headquarters.

“We are excited to be making these two real estate investments in the Puget Sound Region, a market we believe has attractive long-term growth driven by a highly educated employee base, attractive cost of living relative to other top tier markets in the U.S. and high-quality of life,” said Justin Pattner, KKR’s Head of Real Estate Equity in the Americas. “The region is the headquarters to several of the world’s largest companies, and has recently attracted others to build a significant presence in the region. We are looking forward to growing our own presence there with these transactions.”

The buildings will be operated by Urban Renaissance Group, a Seattle based real estate investor, developer, and manager of real estate, who assisted with the acquisitions.

Since launching a dedicated real estate platform in 2011, KKR has invested or committed approximately $9 billion in capital across over 200 real estate transactions in the U.S., Europe and Asia as of September 30, 2019. KKR’s global real estate team consists of over 85 dedicated investment professionals, spanning both the equity and credit businesses.

These investments are being funded by accounts co-advised by KKR and KKR’s balance sheet.

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 Urban Renaissance Group

Urban Renaissance Group LLC is a Seattle-based full-service commercial real estate company, engaged in acquisitions, development, asset management, leasing, property management and ownership in Seattle, Bellevue, Denver and Portland. Founded in 2006, the strategic premise of URG is that the form of the American City will change dramatically during the next 20 years. The company acts as a catalyst that understands and ignites that change, thereby building community, generating appropriate returns for its investors and opportunities for its partners and employees. Learn more at www.urbanrengroup.com.

Source: KKR

Media

KKR:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

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Bark Partners AB’s ownership in EQT AB

eqt

EQT AB has today been informed by four of its Partners – Conni Jonsson, Thomas von Koch, Harry Klagsbrun and Per Franzén – that they have formed a company called Bark Partners AB to which they will transfer, at respective acquisition cost, the majority of their shares in EQT AB. Bark Partners AB will, after the transfer, own in total 15.2 percent and become the second largest shareholder in EQT AB.

EQT AB has also been informed by Bark Partners AB that their ownership is long-term and that the company assumes responsibility for the lock-up commitments the four owners individually had on the shares to be transferred, and that the four owners through their ownership via the jointly owned company will strive at securing EQT’s culture which has been developed over a long time, as well as support EQT’s long-term strategy.

Contact
Nina Nornholm, Head of Communications, press@eqtpartners.com +46 70 855 03 56
EQT Press Office,  +46 8 506 55 334
Harry Klagsbrun, spokesperson Bark Partners AB +46 8 506 55 300

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With a strong brand and distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.

EQT’s talent base and network allow it to pursue a unique value creation approach and thematic investment strategy, with the aim of future-proofing the companies which EQT invests in, creating superior returns and making a positive impact with everything EQT does.

EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 41 billion in assets under management across 20 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 15 countries across Europe, Asia Pacific and North America with more than 675 employees.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes entities advising EQT funds as well as general partners and fund managers of EQT funds.

More info: www.eqtgroup.com

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DIF Capital Partners closes acquisition of Cerro Grande wind farm in Uruguay

DIF

DIF Capital Partners (“DIF”), through its most recent fund DIF Infrastructure V, is pleased to announce the 100% acquisition of the 50 MW Cerro Grande wind farm in Uruguay from Enercon and eab New Energy.

The project, comprising 22 turbines, has been operational since January 2018 and benefits from a 20-year power purchase agreement with UTE, Uruguay’s state-owned utility. The project will continue to be maintained by Enercon under a long-term agreement and asset management services continue to be delivered by SEG Heliotec.

Following the recent opening of its Latin American office in Santiago (Chile), this marks DIF’s first investment in Uruguay and fits well within DIF’s mandate as the investment is in an operational wind project with long-term contracted off-take.

Daniel Aninat, Managing Director and head of DIF’s South American operations added: “We are very pleased to acquire our first renewable energy project in South America. The transaction is the result of our strong relationship with Enercon and we believe this investment is attractive for DIF’s investors due to the long-term project agreements that provide a high degree of predictability of future cash flows.”

DIF has been advised by Voltiq (financial), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV GL (technical), KPMG (tax) and Mazars (model audit). Enercon was advised by Ficus Capital.

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Investor Relations & Business Development
Email: t.verburg@dif.eu

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NPM Capital acquires stake in Agro Care

NPM Capital

Investment company NPM Capital has reached agreement with the shareholders of Dutch tomato grower Agro Care to supply the company with growth capital. The cultivation area of Agro Care, Europe’s largest tomato producer, covers more than 200 hectares spread across the Netherlands, France, Morocco and Tunisia. In NPM Capital, Agro Care has found a partner to support their shared growth ambitions.

The Maasdijk-based company was founded in 1997 by members of the current management and now counts more than 1,500 employees. In a short period of time, Agro Care has developed into one of the world’s largest greenhouse horticulture companies. Through shareholdings, Agro Care additionally engages in – amongst others – seed breeding, packaging, marketing and distributing tomatoes.

Kees van Veen, CEO of Agro Care, explains: “We didn’t just team up with any investment company. We have deliberately opted for a financially robust long-term partner that will help us develop and implement our strategy, for instance by boosting our professionalism and supporting us in future acquisitions.”

“We have been talking to Agro Care for some time,” continues Leonard van Loon, Investment Director at NPM Capital. “Agro Care’s strength lies in its entrepreneurial spirit and its strong partnerships in the value chain which have let the company build a leading position in this large, fragmented market with ample growth opportunities. Agro Care could use the growth capital to invest in technologically advanced greenhouses and for the acquisitions of targets in the Netherlands and elsewhere. We are keen to join forces with the ambitious management team and contribute to the accelerated growth of the company.”

NPM Capital has been investigating investment opportunities in the agricultural sector, including greenhouse horticulture, for some time. It has had a partnership with Hillenraad Partners, a strategic consultancy firm in the horticultural sector, since 2017. Hillenraad Partners initiated the collaboration between NPM Capital and Agro Care. “The Dutch horticulture sector is leading in the world and Agro Care is one of its great exponents,” says Martien Penning, managing partner of Hillenraad Partners. “The partnership with NPM Capital will allow Agro Care to take the next step in its development and streamline its supply of healthy, sustainable and high-quality food.”

NPM Westland

The transaction is expected to close early in 2020. Financial details of the transaction will not be disclosed.

For more information: www.agrocare.nl

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