Sun Capital Partners Affiliate Completes Acquisition of Cotton Holdings, Inc., a Global Leader in Infrastructure Support Services

Sun Capital

Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on investing in market-leading companies, today announced that an affiliate has completed the acquisition of Cotton Holdings, Inc. (“Cotton” or “The Company,”) a leading infrastructure support services company for public and private entities throughout the United States and internationally. Terms of the private transaction were not disclosed.

Cotton is a leading infrastructure support services company with subsidiaries that conduct business under the Cotton Global Disaster Solutions, Cotton Roofing, Cotton Logistics, Cotton Culinary, and OneLodge brands. Headquartered in Houston, Texas, with an International Logistics Center and regional offices throughout North America, Cotton provides property restoration and recovery, construction, roofing, consulting, temporary workforce housing and culinary services to public and private entities worldwide. Cotton is a leader in the $20 billion U.S. commercial restoration market.

“We are very excited to partner with Pete Bell and Cotton, a founder-owned market leader in a very dynamic industry,” said Marc Leder, Co-CEO of Sun Capital. “Over the past 20 years, Pete and his team have built a stellar reputation and strong customer base, but there remain exciting growth prospects for continued expansion as the commercial disaster restoration market continues to evolve. We are confident that Sun Capital’s deep operational expertise can help Cotton continue to gain market share.”

Cotton has been instrumental in providing its clients turnkey recovery and restoration solutions stemming from the world’s most damaging catastrophes of the past two decades by promoting efficiency, transparency, cost savings, and consistent quality.

“Commercial restoration is a very attractive industry,” said Jordan Wadsworth, Managing Director at Sun Capital. “It is recession resistant, as organizations must respond when disaster strikes, and is also very fragmented, presenting great opportunities for expansion in new markets through acquisitions. These are great conditions for Sun Capital to apply our expertise and help Cotton continue its remarkable growth trajectory.”

“In Sun Capital we found a partner with not only the right financial resources, but the right operational know-how and proven ability to work successfully with founder-owned businesses,” said Pete Bell, Co-Founder and CEO of Cotton Holdings. “Cotton has experienced tremendous growth in our markets over the past two decades. By partnering with Sun Capital, we’ll maintain that momentum through both organic expansion and strategic acquisitions, and ensure that we continue to enhance our services to anticipate our customers’ ever-evolving needs.”

Sun Capital has strong experience working with founder-operated businesses, including, Horizon Services, Admiral Petroleum Company & Lemmen Oil Company, Demilec Inc., Gem Shopping Network, Timothy’s World Coffee, and Windsor Fashions.

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EQT invests in SHL Medical, a world-leading provider of drug delivery solutions

eqt

  • EQT acquires minority stake in SHL Medical, a world-leading manufacturer of advanced drug delivery systems such as autoinjectors
  • SHL is a pioneer and technology frontrunner in the self-injection industry, promoting well-being for all by allowing patients to safely self-administer medications at home
  • EQT will support SHL and the management team in its next phase of growth and innovation by leveraging EQT’s healthcare expertise, local angles and digital capabilities

The EQT VIII Fund (“EQT”) today announced that it has entered into an agreement to acquire a minority stake in SHL Medical (“SHL” or “the Company”). SHL was founded in Asia in 1989 with the goal of combining world-class manufacturing in Taiwan with the strengths of international management practices. The Company launched its first autoinjector in 1996 and today, SHL is a world-leading provider of drug delivery solutions.

Headquartered in Switzerland, SHL serves as a partner to global pharmaceutical companies and biotech firms. The Company has a global presence with offices and operations in Europe, Asia and the US, employing approximately 5,000 people worldwide. SHL’s management has been executing a strategic agenda focused around growth, innovation, digitization as well as operational and manufacturing excellence. EQT intends to support SHL in its next development phase, building on the current direction taken by the Company’s management.

SHL’s products enable effective and precise delivery of highly complex biologics and biosimilar drugs to patients worldwide. They empower patients through safe self-administration of medication in the comfort of their homes. Therefore, the investment is in line with EQT’s thematic approach and mindset of making a positive impact in society with everything it does, guided by the United Nations Sustainable Development Goals (SDGs).

Ulrich Faessler, CEO of SHL, commented: “We are excited to have EQT as our new shareholder and look forward to working together in the next development phase of SHL. EQT’s entrepreneurial heritage and investment approach are a great cultural fit for SHL. Together, we will continue to build and grow the company in order to provide the best solutions for our customers.”

Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, added: “We are impressed by SHL’s entrepreneurial spirit and the management team’s achievements in growing the firm into an industry leader with deep innovation and manufacturing capabilities. EQT looks forward to working together with SHL’s management team in this attractive growth investment opportunity.”

The proposed transaction is subject to customary regulatory approvals.

With this transaction, EQT VIII is expected to be 70-75 percent invested.

Contacts
Andreas Aschenbrenner, Partner at EQT Partners and Investment Advisor to EQT VIII, +49 89 25 54 99 0
EQT Press office, +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 SHL Medical
SHL Medical designs, develops and manufactures advanced drug delivery devices, such as autoinjectors, pen injectors and advanced inhaler systems, and provides final assembly, labeling, and packaging services for pharma and biotech companies worldwide. Headquartered in Switzerland with locations in Taiwan, Sweden and the US, our experienced engineers and designers develop product enhancements as well as breakthrough drug delivery and patient care solutions for pharma and biotech clients globally. Significant investment in R&D has enhanced our broad pipeline of next-generation drug delivery systems that support ongoing innovations in drug development and digital healthcare. This includes advanced reusable and disposable injectors that can accommodate high volume and high viscosities and can be enhanced through digital implementations.

More info: www.shl.group
Follow SHL Medical on Twitter and LinkedIn

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The Carlyle Group Completes Conversion to a Corporation

Carlyle

Washington, DC – The Carlyle Group (NASDAQ: CG) announced today that it has completed its previously announced  conversion to a corporation from a publicly traded partnership. Existing Carlyle shareholders will receive a final Schedule K-1 in late March 2020. Following today’s conversion, distributions will generally be dividends for U.S. tax purposes and shareholders will receive a Form 1099-DIV.

“We are pleased to have completed our conversion to a corporation,” said Carlyle Co-CEOs Kewsong Lee and Glenn Youngkin. We believe our structure and approach, which is simple, transparent in governance, and aligned with our investors, sets the stage for Carlyle to further drive sustainable value over the long-term for our shareholders.”

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

Contacts
Public Market Investor Relations
Daniel Harris
+1 (212) 813-4527
daniel.harris@carlyle.com

Media
Leigh Farris
+1 (212) 813-4815
leigh.farris@carlyle.com

OR

Christa Zipf
+1 (212) 813-4578
christa.zipf@carlyle.com

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