Monthly Archives: January 2020

IK Investment Partners to sell CID Lines

ik-investment-partners

Ecolab Inc. announced today it reached an agreement to acquire the CID Lines group (“the Group”), from the IK VII Fund, advised by IK Investment Partners (IK), and the other shareholders. Completion of the transaction is subject to customary closing conditions, including approvals from applicable competition authorities. CID Lines is a hygiene and health solutions provider, principally focused on the animal health industry.

Founded in Belgium in 1989, CID Lines established itself as a leader in disinfectants for combatting infectious animal diseases. Today, the Group’s product range includes a variety of veterinary medicinal products as well as an extensive range of high-quality, branded biosecurity solutions for disinfection and cleaning procedures in farming environments.

Since partnering with CID Lines in January 2016, IK has supported the execution of a successful strategy that has realised continued strong growth. Through its expanding network, CID Lines serves customers across the globe and continues to enhance its base through its best-in-class commercial capabilities in combination with its excellent research & development and registration capabilities.

Remko Hilhorst, Managing Partner at IK Investment Partners and advisor to the IK VII Fund, commented: “CID Lines has made tremendous progress since we first partnered with them in 2016, cementing their position as a leader in the increasingly important market for biosecurity and immunity products that support reduced use of antibiotics in farm animals. We are grateful to have worked with such a dedicated team of professionals at CID Lines to help the business successfully expand its reach and product range. We wish them every success in the future and look forward to seeing how the Company develops.”

Koen Brutsaert, founder and CEO at CID Lines commented: “CID Lines showed excellent growth the last three years. The drivers behind this growth were continued investments in new products, registrations and our salesforce.  IK has been very supportive of these investments in our growth, and we would like to thank them for this support.”

For further questions, please contact:

IK Investment Partners
Remko Hilhorst, Managing Partner
+31 208 909210

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 130 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About CID Lines
Founded in Belgium in 1989, CID established itself as a leader in disinfectants for combatting infectious animal diseases. Today, the Group’s product range includes a variety of veterinary medicinal products as well as an extensive range of high-quality, branded biosecurity solutions for disinfection and cleaning procedures in farming environments.

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EURAZEO succesfully renews and increases its syndicated credit line to €1.5BILLION

Eurazeo

FOR THE FIRST TIME IN THE CAPITAL MARKET,THE MARGIN AGREED ON THIS FACILITY IS INDEXED ON ESG CRITERIA

Paris, January 9, 2020–Eurazeo, a leading global investment company, has successfully renewed its credit line with a consortium of 13banks. The size of the facility was increased by 50% (the amount rose to €1.5billion, up from €1billion previously), which will be an additional advantage on Eurazeo’s ambitions. The renewal also offers the Group greater visibility over the next five years, with two options to extend the duration each by an additional period of a year, subject to approval by the lenders, therefore resulting in a total duration of seven years.

Furthermore, for the first time in the credit market in EMEA, this new facility has been indexed against ESG performance criteria.

If the criteria are fulfilled, the margin calculation will give rise to savings on fees that Eurazeo has pledged to put toward funding projects to reduce greenhouse gas emissions, for which the environmental quality and integrity will be guaranteed by the most rigorous labels and certifications. If the criteria are not fulfilled, the additional fees the banks would be entitled to charge Eurazeo would also be allocated to such projects.This innovative financial arrangement reflects a desire to work together to facilitate the emergence of new sustainable financial products.

The operation is fully in line with Eurazeo’s ESG strategy, which strives to combine value creation with social responsibility throughout the entire investment cycle. Eurazeo is the only capital investment firm to be included in five benchmark ESG indices alongside the world’s top performing companies in terms of CSR: Ethibel Sustainability Index (ESI), Euronext Vigeo, FTSE4Good, MSCI ESG and Low Carbon Leaders and STOXX Sustainability, Low Carbon and ESG Leaders.

Philippe Audouin, CFO of Eurazeo, stated:“The successful renewal of our credit line demonstrates the trust our banking partners have in Eurazeo. We are also very proud to see Eurazeo become the first capital investment firm to put in place an agreement to redirect a portion of the fees to ESG projects. Eurazeo has long been a pioneer in its market, having integrated CSR considerations into all stages of its investment process back in 2008. As a catalyst of transformation for business, the capital investment market is ideally placed to make a significant contribution.”

EURAZEO CONTACTS PRESS CONTACT PIERRE BERNARDIN Head of Investor Relations

email: pbernardin@eurazeo.com Tel: +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT Head of Communications email: vchristnacht@eurazeo.com Tel: +33 1 44 15 76 44MAITLAND/amoDAVID STURKEN email: dsturken@maitland.co.uk Tel: +44 (0) 7990 595 913

For more information, please visit the Group’s website: www.eurazeo.comFollow us on Twitter,Linkedin, and YouTube

The consortium is made up of the following banks:-as MLAs & Bookrunners: BNP Paribas, Cacib, CIC, Natixis and Société Générale -as MLAs: Banque Palatine, Barclays, CADIF, Citibank, Crédit Lyonnais, Goldman Sachs, Intesa San Paolo, JP Morgan, Mediobanca, NatWest Markets and Royal Bank of Canada,-BNP Paribas as CSR Coordinator, Natixis as bookrunner and Cacib as the underwriter.***

About Eurazeo

Eurazeo is a leading global investment company, with a diversified portfolio of €18billion in assets under management, including €12billion from third parties, invested in over 400 companies. With its considerable private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Madrid and Berlin

Eurazeo is listed on Euronext Paris.oISIN: FR0000121121 -Bloomberg: RF FP -Reuters: EURA.PA

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EcoVadis secures c.$200m investment from CVC Growth Partners

Investment from CVC Growth Partners II will help accelerate adoption of sustainability ratings throughout the globalised economy

EcoVadis SAS, the world leader in business sustainability ratings for global supply chains, today announced that it has agreed a c. $200m investment from CVC Growth Partners II. This transaction represents one of the largest investments in the ESG space to date and reflects a shared long-term vision for the importance of ESG to business success. EcoVadis will leverage the funding to scale globally and engrain sustainability, fair labour practices and ethics into enterprise supply chains and business commerce.

“The combination of global sustainability initiatives, evolving compliance regulations and corporate purpose commitments are putting a new and urgent spotlight on the supply chain – and creating an immense and growing market for our solutions,” said Frédéric Trinel, co-founder and co-CEO of EcoVadis. “CVC’s global network and reach will play a critical role in helping us scale and change the way businesses operate.”

“Momentum towards a more environmentally and societally focused economy has been building for years. Today’s executives recognise the power of sustainability to protect their brands, increase valuation, inform investment strategies and positively impact the world,” said Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis. “The supply chain is the single greatest lever for creating real change and making an impact. But when left unmanaged, it becomes a breeding ground for hidden risk – including forced labor, environmental waste, corruption, security issues and more. This investment from CVC Growth Partners is a testament to the critical role that ESG and sustainability factors play in today’s market.”

More than 450 enterprises – representing over $2.5 trillion in business spending – rely on EcoVadis’ supplier ratings and engagement platform to evaluate and improve environmental and social performance across their global supply chains. EcoVadis’ evidence-based assessment methodology, delivered via a sophisticated SaaS platform and backed by a dedicated team of CSR analysts, is the most trusted and adopted approach in the industry. Today, EcoVadis’ network of assessed companies tops 60,000 across 155 countries.

EcoVadis continues to experience rapid growth across its global customer base. In 2019 the Company added 10,000 companies to its network and opened new offices in Tokyo, San Francisco and Melbourne. EcoVadis plans to leverage the funding to expand internationally, break into new countries and further invest in its technology platform, sustainability intelligence solutions and network of rated companies.

Aaron Dupuis, Senior Managing Director at CVC Growth Partners commented, “We are delighted to partner with Frédéric, Pierre-Francois and the rest of the EcoVadis team in this next phase of growth for the company. We have followed EcoVadis for several years as part of our long-standing efforts in supply chain risk management, where we identified ESG as a particular area of focus for best-in-class companies, and are incredibly excited about the immense opportunities that lie ahead for the company, as it continues to establish itself as the gold standard for ESG ratings. This is the first investment from CVC Growth Partners’ second fund, which announced its final close late last year.”

“Environmental, social and governance issues are critical to business success, economic growth and societal improvement,” said Sebastian Kuenne, Managing Director who leads CVC Growth Partners in Europe. “At the core of CVC’s approach to building better businesses is always a detailed sustainable value creation plan that is anchored in fundamental ESG principles. EcoVadis’ unique assessment platform and expansive supplier network are proven to improve sustainability outcomes and accelerate business performance. We are proud to partner with a team that provides meaningful value not only to their customers but also to broader society and our environment and are excited to support EcoVadis with the full weight of the CVC network.”

John Clark, Managing Partner of CVC Growth Partners, Aaron Dupuis and Sebastian Kuenne will be joining EcoVadis’ board of directors.

“EcoVadis is fast becoming the world-leading platform for supplier ESG ratings, and Partech is very excited to continue the journey with the company and its founders, and to welcome our new partner CVC,” added Omri Benayoun, General Partner at Partech and a board member of EcoVadis since 2016.

The transaction is expected to close in Q1 2020 following regulatory approvals.

 

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Carlyle Group sells Peru-based cash management company Hermes to CVC Fund VII

Hermes sold to CVC Fund VII for an enterprise value of approximately $400 million

Global investment firm The Carlyle Group has sold its stake in Hermes Transportes Blindados S.A. to CVC Fund VII for an enterprise value of approximately $400 million. The transaction closed on January 7, 2020 after CVC Fund VII launched a tender offer on December 3, 2019. Carlyle invested in Hermes through its Carlyle Peru Fund and Carlyle South America Buyout Fund in 2015.

Based in Lima, Peru, Hermes is a leading provider of cash management services with a nationwide network of 18 branches, 228 armored vehicles and over 3,700 employees. The company offers valuable logistics, cash processing and custody services to a blue chip client base comprised of more than 1,000 active clients in the financial, retail, utilities and mining segments. Hermes is a mission critical partner to the largest financial institutions and retail organisations in Peru.

Eduardo Ramos, Managing Director and Head of the Carlyle Peru Advisory Team, said, “During our four-plus years of ownership, we are proud to have helped Hermes grow by identifying new revenue streams, increasing operational efficiencies and entering new business segments. We’re confident the company is well positioned for continued growth over the long-term.”

Sebastian Barriga, Director of the Carlyle Peru Advisory Team, added, “It has been a privilege to work alongside Hermes’s world-class management team. Together, we have created long-term value by pursuing both organic and inorganic growth opportunities and are proud of the work Hermes has done to advance the cash management industry in Peru. We look forward to their continued success.”

Mirella Velasquez, CEO of Hermes, said, “Eduardo and the Carlyle team have been outstanding partners. Today’s announcement underpins the continued success of our company. We are extremely proud of our team and look forward to continuing to develop the cash management industry in Peru.”

Jean-Marc Etlin, Partner overseeing CVC Capital Partner’s Latin America private equity business said, “This is a unique opportunity to invest in a company with an outstanding track record and proven business model. We are very impressed with the quality of the management team and their ability to continue generating significant value for shareholders. We are looking forward to continuing to support the company and its talented management team in its next phase of growth.”

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Ardian Lends its support to two new stations at Orly Airport and Le Bourget RER as part of the Grand Paris Express project

Ardian

Paris, 8 January 2019 – Ardian, a major name in infrastructure and commercial estate investment, has today confirmed its support for the Grand Paris Express artistic and cultural endowment fund. Ardian agreed to contribute one million euros to the production of permanent artistic works in the stations “Orly Airport” and “Le Bourget RER”.

Under the authority of the Société du Grand Paris, the Grand Paris Express is Europe’s biggest transport infrastructure project, involving the construction of four new automated metro lines around Paris and the extension of two existing lines, totalling nearly 200 km of track. The ambitious project will include 68 new stations within the Ile-de-France area. Not just an infrastructure project, Grand Paris is also a cultural adventure on an unprecedented scale. In fact, more than thirty stations are already under construction under the authority, for each station, of an architect and an artist in order to bring an aesthetic, sensitive and poetic dimension to the new stations.

Ardian has decided to support this initiative, with the hope of making the region more attractive, creating a more even balance between the various areas of the city and offering a new transport experience for thousands of users. A major name in core infrastructure and commercial property, Ardian has put its name to this long-term project, which will bring every person closer to their destination and result in faster and more pleasant daily commutes.

The Orly Airport station is designed by the chief architect of Aéroports de Paris, François Tamisier and the Portuguese artist VHILS. With an estimated 95,000 journeys made every day, this station is a veritable economic hub. There are 173,000 jobs located within 1 km from the station, of which 28,000 are connected to the airport.
The Bourget RER station is designed by the duo composed of the architect Elisabeth de Portzamparc and Jeppe Hein, a Danish artist living in Berlin. Connected to RER line B, one of the busiest in the region, the station serves 860,000 passengers every day.

According to Rémi Babinet, President of the Endowment Fund: “This is an opportunity to embark upon an extraordinary adventure as we witness the metamorphosis of our capital. A new scale, new journeys, new momentum and new directions, the future Grand Paris Express metro network will be the driving force behind a rate of change not seen since the 19th century. It is essential that everyone understands the stakes, and we must share it with the public to ensure the project fulfils its full social potential. This project will allow us to work together, communicate, expand and contribute to the emergence of a culture “beyond the ringroad” and write the story of Grand Paris. We are very pleased with this new partnership. By offering dedicated support for the endowment of works, Ardian is participating in the emergence of a new metropolitan identity and the construction of a capital on a revisited scale, better connected, more attractive and more inclusive.”

Pierre Emmanuel Becherand, Managing Director of the Endowment Fund, adds: “We are delighted with this first partnership dedicated to the production of two station works which inaugurates a new phase in the deployment of artists & architects working together. We hope to capitalise on this momentum by involving private enterprise in the realisation of the cultural and artistic Grand Paris Express.”

Mathias Burghardt, Member of the Ardian Executive Committee and Head of the Infrastructure business declares: “We are very proud to be part of this world-class project. “With the increasing urbanisation of the Ile-de-France area, improving transport is a priority. As a company based in the heart of the regions, it was only natural for us to get involved with the Grand Paris Express. It is also an opportunity to work with world-famous architects and artists, and our collaboration will make it possible to add a touch of culture to people’s daily lives.”

Stéphanie Bensimon, Head of Ardian Real Estate, concludes: “It made sense for us to support this project which serves some of the region’s largest business centres. As an investor in commercial property across the Paris area, we want to help improve the movement and experience of thousands of people as they make their way to work”.

ABOUT ARDIAN

Ardian is one of the world’s largest private investment managers with €96 billion in managed/advised assets in Europe, America and Asia. The company, which is owned mainly by its employees, has always placed company spirit at the heart of its approach and offers top class performance to its international investors.

By committing to a policy of sharing its value creation with all stakeholders, Ardian supports the growth of companies and economies around the globe.

Built on the core values of excellence, trust and company spirit, Ardian has an international network of 640 employees across fifteen offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages the assets of its 1,000 clients via five investment divisions: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian

www.ardian.com
Founded in 2005, Ardian Infrastructure is one of Europe’s largest infrastructure investment funds. The team has developed a long-term industrial investment strategy in a number of sectors including transport (railway, road and airports), energy (gas, electricity and renewables) and other public service infrastructures (health and environment), working closely with local public and private companies.

Launched in 2015, Ardian Real Estate invests in high-potential commercial property in continental Europe. Some of its landmark deals include the purchase of the building that was home to the Europe 1 radio at Rue François 1er in the 8th arrondissement of Paris, and the Rio Building at 2 Place Rio de Janeiro.

 

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Ardian sells Riemser to international pharmaceutical company Esteve

Ardian

Greifswald/Berlin/Frankfurt/Barcelona, 8 January 2020: Ardian, a world-leading private investment house, has come to an agreement to sell all the shares of the German pharmaceutical company RIEMSER to ESTEVE, an international pharmaceutical company headquartered in Barcelona. Financial details of the transaction will not be disclosed. The closing of the transaction is subject to antitrust approval and is expected in the first quarter of 2020.

RIEMSER is a provider of specialty pharmaceuticals in human medicine headquartered in Greifswald and Berlin. The Company has subsidiaries in Great Britain, France and Spain, and an international distribution network across more than 50 countries.

With the acquisition of RIEMSER, ESTEVE broadens its access to the fast-growing hospital market, in which RIEMSER is particularly successful. Today, RIEMSER generates about 80 percent of its sales with products for clinical application. Numerous RIEMSER drugs are considered ‘gold standard’.

Ardian acquired RIEMSER in 2012 and, together with the management team, successfully refocused the company on its core business of specialty pharmaceuticals, which it acquires, licenses, markets and distributes. Today, the company’s product portfolio comprises prescription drugs for the treatment of serious diseases in oncology, neurology, infectiology, as well as niche indications in cardiovascular medicine, dermatology, rheumatology and infectiology.

RIEMSER has divested from areas which are not part of its core business, such as the dental and veterinary business and the medical devices business. The proceeds were invested in the licensing and acquisition of products, the acquisition of companies in the specialty pharmaceuticals sector and the expansion of indications for existing products:

RIEMSER acquired Keocyt in France in 2014 and Intrapharm, based in England, in 2015. In 2016, the acquisition of the CNS division of Dolorgiet followed, whose products expanded the portfolio by the therapeutic area of neurology. In 2019, RIEMSER bought the Spanish distribution service provider Zaltanpharma, which has since been renamed RIEMSER Iberia.

In the area of drug approval and in–licensing, RIEMSER, among others introduced the active ingredient triamcinolone hexacetonide in Canada and concluded an agreement with the Japanese pharmaceutical company Eisai on the exclusive development and marketing rights for Prialt in Europe in 2018; in 2019 Keocyt received a new EU approval for Zanosar in eleven European countries.

Christof Naményi, Managing Director in the German Ardian Buyout team, said: “Ardian has extensive experience as an investor in the European healthcare, life sciences and pharmaceutical markets. We are pleased that we have been able to successfully leverage our expertise and network with RIEMSER, supporting the company’s acquisition strategy, corporate and organisational development, and executive recruitment. We would like to thank Konstantin von Alvensleben, his management team and all RIEMSER employees for the excellent cooperation and wish them all the best for the future.”

Konstantin von Alvensleben, CEO of RIEMSER, added: “When I joined RIEMSER in 2015, Ardian had already set the course for the further development of the company. I am pleased that since then we have been able to accelerate this process and together reached further milestones in the growth and internationalisation of the business. Ardian’s support was invaluable in achieving this. We are very proud that with Esteve, a strong family-owned pharma company with a long tradition, has chosen to acquire Riemser and we are looking forward to entering the next stage of our development. Being part of a much larger Group will support our joint growth. ”

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 more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

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ClassPass raises $285 million to accelerate international growth and scale corporate program

Apax Digital

8 January 2020

L Catterton and the Apax Digital Fund Lead Series E Round 

NEW YORK, NY, January 8, 2020: ClassPass, the leading global fitness and wellness marketplace, today announced the close of a $285 million Series E investment. The round, which was led by L Catterton and Apax Digital, with additional participation by existing investor Temasek, follows the successful expansion by ClassPass into 28 countries and the signing of more than 1,000 leading employers into its corporate wellness program.

Founded in 2013, ClassPass pioneered the modern-day fitness and wellness marketplace. Today, ClassPass partners with more than 30,000 boutique studios, gyms and wellness providers, offering members access to the largest global network of wellness-inspired experiences. The investment will enable ClassPass, which now has over 650 employees across five continents, to continue rapidly scaling its proprietary reservation and booking technology across the globe. ClassPass’s superior model and technology have made it the marketplace of choice for providers who leverage ClassPass’ advanced machine learning capabilities to maximize their revenue and optimize utilization.

“We are motivated by the impact we’ve had on members and partners, including 100 million hours of workouts that have already been booked. This investment is a significant milestone that will further our mission to help people stay active and spend their time meaningfully,” says Founder and Executive Chairman Payal Kadakia.

As part of the investment, Marc Magliacano, Managing Partner at L Catterton’s Flagship Fund, and Daniel O’Keefe, Managing Partner at Apax Digital, will join the ClassPass Board of Directors.

“This fundraise is a reflection of our proven and sustained success in the U.S. and our rapid adoption internationally. In 18 months, we’ve scaled from 4 to 28 countries. Even in our recently launched European markets, our partners consistently call us their #1 driver of new customer reservations,” said Fritz Lanman, ClassPass CEO. “Our goal is to be the brand of choice and clear leader in every country we enter. This investment will allow us to expand more rapidly within existing geographies, add more countries to our network, and scale our corporate program globally. Additionally, I am thrilled to welcome two new board members with incredible domain expertise in digital subscription businesses and the fitness industry more broadly.”

L Catterton has deep experience working with leading fitness brands, including tech-enabled brands such as Peloton, Hydrow, and Tonal, as well as studio and fitness club brands, including Xponential Fitness, Equinox Holdings, Pure Barre, CorePower Yoga, Will’s Gyms (China), and BodyTech (Latin America). Apax has significant experience helping digital marketplace and consumer subscription businesses scale globally.

“As an investor in a number of highly respected studio and fitness club brands, we have seen firsthand how ClassPass providers and members mutually benefit from the ClassPass relationship,” said Mr. Magliacano. “ClassPass has continuously evolved its model to meet the changing needs of both partners and users. The ClassPass credits model, when combined with its A.I. tools, allows studios significant flexibility in monetizing their excess inventory and generates more revenue for studios than any other aggregator. We are confident that ClassPass is poised to grow into one of the most prominent wellness brands of the new decade and we couldn’t be more excited to continue to partner with Fritz and his team.”

“Apax has a long history of backing leading global marketplace businesses, and ClassPass is the tenth such investment to date. We’ve known the company since its early days and have been continually impressed by its global brand, attractive customer and studio value propositions, and history of explosive growth,” said Mr. O’Keefe. “We are excited to leverage the Apax global footprint to help ClassPass continue to accelerate its international traction.”

About ClassPass

Founded in 2013 by Payal Kadakia, ClassPass is the world’s most flexible network of fitness and wellness experiences. Members gain instant access to over 30,000 pre-vetted global exercise studios, which offer diverse fitness options including yoga, cycling, Pilates, strength training, boxing and more. In addition to workouts, members can instantly book inspiring wellness experiences, such as massages, acupuncture and spa treatments. ClassPass simplifies the discovery process, using machine learning to provide catered recommendations to each member based on their goals and preferences. ClassPass also lifts the fitness industry, working directly with studio partners to merchandise their excess inventory, find new customers and generate new streams of revenue. Learn more at http://classpass.com.

About LCatterton

With approximately $20 billion of equity capital across seven fund strategies in 17 offices globally, L Catterton is the largest consumer-focused private equity firm in the world. L Catterton’s team of more than 190 investment and operating professionals partner with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad thought partnership network. Since 1989, the firm has made over 200 investments in leading consumer brands. L Catterton was formed through the partnership of Catterton, LVMH, and Groupe Arnault. For more information about L Catterton, please visit www.lcatterton.com.

About Apax Digital

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of $50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Temasek

Temasek is an investment company with a net portfolio value of US $231 billion (S$313 billion) as of March 31, 2019. Our Temasek Charter roles as an investor, institution and steward shape our investment stance, ethos and philosophy, to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. Headquartered in Singapore, we have 11 offices around the world, including New York, San Francisco and Washington, D.C. For more information on Temasek, please visit www.temasek.com.sg.

Media Contacts:

For ClassPass

Mandy Menaker | mandy.menaker@classpass.com

For L Catterton

Andrea Rose / Julie Oakes / Andrew Squire
Joele Frank, Wilkinson Brimmer Katcher
+1 212-355-4449

For Apax Digital / Apax Partners

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

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

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

For Temasek

Paul Ewing-Chow | paulewingchow@temasek.com.sg

Aedan Lai | aedanlai@temasek.com.sg

 

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Medisys announces its first build-up with SYKIO, OGUST Managersoftware Publisher

Activa Capital

A few months after the partnership of Medisys with Activa Capital and Turenne Santé, the software publisher in the home-care field for dependent people in homes and institutions is pursuing its development with the acquisition of Sykio, publisher of the Ogust Manager software. This transaction enables Medisys to expand its client portfolio to private players in the home-care field for dependent people.

Ogust Manager is a full-web and mobile management solution for managing human services activities. Created in 2007, the company is still managed by one of the two founders, Didier Humbert. Newfund, a shareholder since 2012, is selling its stake.

With growth of more than 15% per year, Ogust Manager complements Medisys’ SaaS offering with software that is highly appreciated by Medisys’ previously unaddressed private homecare customers.

Didier Humbert joins the Medisys management team led by Guillaume Bouillot. Karim Abichat, co-founder, will support the operation by remaining a shareholder.

On the occasion of this merger, Medisys has drawn down its additional financing line put in place at the closing of the transaction in May 2019. This transaction underlines the ability of Activa Capital(majority shareholder)to support management teams in the transformation of growing SMEs, particularly through the structuring of external growth operations.Regarding this acquisition, Turenne Santé has brought his sector investor expertise contributing to the consolidation of these two software publishers.

Guillaume Bouillot, President of Medisys Holding, said: «Sykio and its Ogust Manager software complement Medisys’ in-home offering with a solution that is perfectly in line with the rapidly growing demands of private structures and franchise networks. We are very pleased to join forces with Didier Humbert and to leverage synergies, particularly commercial synergies, to accelerate the already strong growth of Ogust Manager.

Christophe Parier and Alexandre Masson, Managing Partners of Activa Capital, completed: «Helped by initial contact initiated before the closing of the Medisys transaction, the combination with Sykio accelerates the development of Medisys and strengthens the company in the medico-social sector. » Mounia Chaoui and Grégory Dupas, Turenne Santé, declared: « We thank all parties for this very nice operation which allows Medisys to offer a complete suite of ERP software for the management of public, associative and private SSIADs and SADs.

Patrick Malka, co-founder of Newfund, added: We have been accompanying Didier and Karim since 2012. Today a page is turned in the best possible way as this backing of Medisys reflects the founders’ first choice. Congratulations to Medisys and Activa for this operation and good luck to Didier and Karim in their new respective adventures.

Didier Humbert, co-founder of Sykio, stated: This partnershipwith Medisys is a great opportunity to enable Ogust to grow faster and continue its sustained pace of innovation in the human services sector. The combination of Medisys and Ogust will enable us to offer a complete technical offering that is unparalleled on the market.

»ParticipantsBuyersMedisys: Guillaume BouillotActiva Capital: Christophe Parier, Alexandre Masson, Frédéric Singer, Elliot ThiéblinTurenne Santé:Mounia Chaoui, Grégory DupasFinancial Due Diligence: Exelmans (Stéphane Dahan, Manuel Manas, Matthieu Réglade)Social, tax and legal Due Diligence: PwCavocats(Erick Hickel, Nicolas Arfel)Corporate lawyers:Hogan Lovells (Stéphane Huten, Paul Leroy, Alexandre Jeannerot)SellersSykio: Karim Abichat, Didier HumbertNewfund: Patrick MalkaFounders lawyer: ID3 Avocats (Bruno Bibollet)Newfund lawyer: Stance Avocats (Romain Franzetti)Senior financingSeniordebt: Crédit du Nord(Bertrand Descours), Crédit Agricole Provence Alpes Côte d’Azur(Christophe Lejeune), BNP Paribas (Mathias Ronzeaud)

About Medisys

Based in Aix-en-Provence and created in 1991, Medisys is a leading software publisher in the field of home and facilities help and care for dependent persons. Bernard Chevalier, the founder of Medisys, handed over the company in April 2019 to Guillaume Bouillot, a software entrepreneur, associated with the company’s three experienced managers.

About Sykio

Sykio publishes the management software of the Ogust suite, dedicated to companies and associations of human services, nurseries, cleaning companiesand training organizations. The first management software available in SaaS mode, the Ogust range adapts to all specificities (configurable modules or specific developments). Ogust is an innovative French startup based in Paris that designs online management software for human services companies. Its ambition is to enable its customers to develop rapidly thanks to technology (software). Its solutions are used in 8 countries. Ogust offers many functionalities developed mainly to make the organization more efficient, improve the quality of services (extranet access for stakeholders and customers-beneficiaries), improve cash flow (remote transmission CESU) and develop turnover.

About Activa Capital

Activa Capital is an independent private equity company, owned by its partners, characterized by a proactive strategy of supporting growth (organic and external). It currently manages more than €500 million on behalf of institutional investors by investing in French SMEs and Mid-Caps with high growth potential and an enterprise value ranging between €20 million and €100 million. Activa Capital supports its portfolio companies to accelerate their development and international presence, often through active build-up programs.To learn more about Activa Capital, visit www.activacapital.com

About Turenne Santé

With more than €220 million in assets under management, including more than €120million for FPCI Capital Santé 2 (currently in the fundraising stage), Turenne Santé, Healthcare team of Turenne Group,helps healthcare companies to face challenges related to their growth and transfer.Over the last 20 years, the Turenne Group, a leading private equity firm in France, has helped business owners carry out their innovation, development and transfer projects. As an independent player, the Group managed €1 billion as of 30 June 2019. It employs 61 professionals, including 46 investors, based in Paris, Lille (Nord Capital), Lyon, Marseille and Metz, who provide assistance to more than 250 business leaders in the healthcare, hospitality, new technologies, distribution or innovative services sectors.The Turenne Group advocates a Socially Responsible Investor approach. It provides financial support and runs the Béatrice Denys Foundation for Therapeutic Innovation, which rewards the most successful projects within French academic medical research, under the auspices of the Foundation for Medical Research.www.turennecapital.com

About Newfund

Founded in 2002 by François Véron and Patrick Malka, Newfund is a €230 million early stage investment fund subscribed by entrepreneurs and family offices committed to entrepreneurial development. In 2019, Newfund has more than 80 active investments, including Aircall, In2Bones and Eqinov. The fund has made some fifteen significant exits, including Luckey Homes (acquired by Airbnb), Medtech SA and Beyond Ratings (acquired by London Stock Exchange Group). Newfund is also one of the only French early-stage funds present in the United States, in Silicon Valley, with already more than 25 companies.

More information on:www.newfundcap.com

Press contacts:

Activa Capital:

Alexandre Masson Managing Partner alexandre.masson@activacapital.com +33 1 43 12 50 12

Christophe Parier Managing Partner christophe.parier@activacapital.com  +33 1 43 12 50 12

Christelle Piatto Communication Managers christelle.piatto@activacapital.com  +33 1 43 12 50

Turenne Santé:
Mounia Chaoui partner mchaoui@turennecapitila.com +33 1 53 43 03 03
Josepha Montana Partner Communications & SRI Manager montana@turennecapital.com +33 1 53 43 03 03

Categories: News

EQT invests in Asia based Health Management International

eqt

  • EQT Mid Market Asia invests in Health Management International, a reputable private healthcare provider with regional presence in Singapore, Malaysia and Indonesia
  • EQT will support Health Management International in realizing its full potential while scaling the Company’s platform in the region, organically and by exploring potential future acquisition opportunities
  • Health Management International was delisted from the Singapore Exchange on 24 December 2019

The EQT Mid Market Asia III fund (“EQT Mid Market Asia” or “EQT”) today announced its investment in Health Management International Ltd (“HMI” or the “Company”).

Founded in 1998, HMI is a regional private healthcare provider with presence in Singapore, Malaysia and Indonesia. The Company is headquartered in Singapore and is led by an experienced management team and has a board with vast experience in developing and growing healthcare businesses in the region. The Company’s two tertiary hospitals in Malaysia, Mahkota Medical Centre and Regency Specialist Hospital, which are known for their clinical quality and breadth of specialties and subspecialties, attract medical tourists from all around Southeast Asia and serve approximately 100,000 international patients per year.

HMI has a strategy of investing in its facilities and service offerings and has further expanded its healthcare platform through investments in the first private one-stop ambulatory care center in Singapore, StarMed Specialist Centre, and a General Practice clinic chain in Singapore, OneCare Medical.

EQT will support HMI in realizing the full potential of its existing healthcare businesses, while investing further in capacity and capabilities. EQT plans to back the Company’s accelerated growth trajectory, both organically and by exploring potential acquisition opportunities. HMI will also be able to leverage on EQT’s deep healthcare sector expertise, global network and vast experience rolling out digitalization initiatives.

The investment in HMI is in line with EQT’s thematic approach. HMI participates in the development, planning and implementation of sustainable strategies and engages in numerous community initiatives which include medical screenings and treatments, promoting wellness and preventive healthcare.

Chin Wei Jia, Group CEO at HMI, commented: “We are excited to welcome EQT as our new partner for the next chapter of HMI’s development. EQT made a strong impression on us from the outset with their strategic approach and deep experience across the various healthcare ecosystems globally. Together, we will be able to accelerate HMI’s growth by focusing on providing quality healthcare to become one of the leading private healthcare providers in the region.”

Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Asia, commented: “HMI is a well-established healthcare group with a high-quality, talented team and a solid track record in the region. EQT is excited to partner with HMI and support the next chapter of its growth journey. Going forward, the joint focus will be on scaling HMI’s operations in the region with its differentiated, passionate and hands-on approach while continuing to deliver high quality healthcare to its customers.”

Contact
Brian Chang, Partner at EQT Partners, Investment Advisor to EQT Mid Market Asia, +65 6595 1830
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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.

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

About Health Management International
HMI is a growing regional private healthcare provider with a presence in Singapore, Malaysia and Indonesia. HMI owns two tertiary hospitals in Malaysia, as well as a one-stop ambulatory care centre, healthcare training centre and a stake in a General Practice clinic chain in Singapore. HMI also has a network of representative offices in Indonesia, Malaysia and Singapore. HMI has more than 500,000 patients per annum, with over 200 practicing doctors and 1,800 staff.

More info: www.hmi.com.sg

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KKR Acquires Riata Corporate Park in Austin

KKR

NEW YORK–(BUSINESS WIRE)–Jan. 7, 2020– KKR, a leading global investment firm, today announced that it has acquired Riata Corporate Park in Austin, Texas, in a deal valued at approximately $258 million.

Riata Corporate Park is an eight building, 688,100 square foot, Class A office campus located in Northwest Austin, Austin’s largest office submarket. The acquisition includes an adjacent land site that is entitled for a ninth office building. Riata Corporate Park is ideally located five miles from The Domain, Austin’s second Central Business District.

KKR is planning an $11 million capital improvement program to the campus including to amenities such as fitness centers, the café and outdoor plazas.

“Riata is a unique corporate campus centered in an incredibly dynamic area in Austin, one of the fastest growing markets in the U.S. We are thrilled to be investing in the property and the region, and look forward to continue building upon its best-in-class position,” said Roger Morales, a Partner at KKR and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the investment through its Real Estate Partners Americas Fund II.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

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

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