Monthly Archives: February 2020

Advent International, Cinven and RAG-Stiftung to acquire thyssenkrupp’s Elevator Technology business

Cinven

International private equity firms Advent International (“Advent”) and Cinven together with the RAG-Stiftung (“the foundation”) (“the consortium”), today announced that they have signed definitive agreements with thyssenkrupp AG to acquire thyssenkrupp’s Elevator Technology business (“thyssenkrupp Elevator” or “the Group”).

As part of the transaction, thyssenkrupp AG will reinvest in thyssenkrupp Elevator and will acquire a substantial minority stake, underlining the attractive value creation potential of the business as well as a commitment to Germany and the Group’s employees.

thyssenkrupp Elevator is a leading international provider of elevator technology with operations in more than 1,000 locations worldwide. Headquartered in Germany, the Group generated revenues of €8.0bn in the financial year 2018/2019. thyssenkrupp Elevator provides innovative solutions to customers in more than 100 countries. Its product portfolio includes passenger and freight elevators, escalators and moving walkways, passenger boarding bridges, stair and platform lifts as well as a customised service business including maintenance of its entire product portfolio. The business operates a global sales and service network to ensure optimum proximity to its customers.

The consortium identified thyssenkrupp Elevator as an attractive investment opportunity given:

  • Its strong market position in the US, Europe and Asia;
  • The market growth opportunity supported by structural trends such as urbanisation and increased urban mobility with greater demands for access and convenience;
  • Significant buy and build and consolidation opportunities given the fragmented industry;
  • Planned investment in R&D, product and geography market expansion to drive both organic and inorganic growth; particularly in high growth markets such as Asia and for new energy-efficient product development;
  • Its plans to further expand the Group’s service business for its own and third-party elevators.

“Cinven is delighted to invest in and accelerate the growth of thyssenkrupp Elevator both organically and through further acquisitions. Further investment in product development, R&D and international expansion will enable us to grow the business sustainably over the long-term,” said Bruno Schick, Partner and Head of DACH and Emerging Europe at Cinven. “Alongside Advent and RAG-Stiftung, we look forward to partnering with management to shape the next phase of this outstanding business.”

“thyssenkrupp Elevator has established itself as an international market leader, with a strong and innovative product portfolio. We look forward to working alongside Cinven and RAG-Stiftung to leverage our collective expertise and capital resources and to build on this excellent platform for further growth, thereby creating a strong, independent industrial company”, said Ranjan Sen, Managing Partner and Head of Germany at Advent International.

“We value thyssenkrupp Elevator’s long heritage. The consortium is committed to maintaining its headquarters and its strong roots in Germany. This asset fits into the foundation´s portfolio extremely well because we expect it to provide stable returns,” said Bernd Tönjes, Chairman of the Executive Board at RAG-Stiftung. “For an innovative company with high quality standards like thyssenkrupp Elevator, its employees are the most important asset. We will operate at all times as responsible investors.”

Germany is a key market for Advent and Cinven, who have both had a presence in Frankfurt for more than 20 years and successfully invested in more than 39 companies in Germany. Having invested in 130 companies in the industrial and business services sectors, Advent and Cinven have considerable experience in these markets. In addition, the RAG-Stiftung has strong ties to the Rhine-Ruhr region and is committed to contributing to the sustainable transformation of the area. The foundation is a long-term focused investor responsible for financing the obligations of the German coal mining industry in the Ruhr and Saar regions and in Ibbenbüren.

The consortium has a shared investment philosophy of responsibly growing leading businesses and is committed to a long-term value creation plan for thyssenkrupp Elevator. The consortium is strongly committed to being a fair and responsible owner. The investors have extensive experience of working with German industrial companies that are co-determined, and attach great importance to collaborating with employee representative bodies. In addition, the consortium will continue to invest in the training and the ongoing education of employees, as well as the sustainable maintenance of the Group’s operations across all geographies.

The transaction is expected to close by the end of the third quarter of 2020, subject to customary closing conditions and regulatory approvals.

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ARDIAN REAL ESTATE AND BANCA MPS SIGNED AGREEMENT FOR A TRANSACTION ON A REAL ESTATE PORTFOLIO

Ardian

The portfolio consists of 28 buildings, mainly offices, with most located between Milan, Rome, Florence and Padua. The acquisition includes five significant historical buildings.

Milan, February 28, 2020 – Ardian, a world leading private investment house, has signed an agreement with Banca Monte dei Paschi di Siena for the acquisition of a portfolio composed of 28 properties, owned by the MPS Group. The agreement concludes a competitive process started in July 2019. This follows a period of exclusivity granted to Ardian on February 10.

The portfolio consists of 28 buildings primarily intended for office use mostly located across Milan, Rome, Florence and Padua. The total commercial area spans across approximately 90,000m².

Notably, the portfolio includes five historical buildings which carry unique historical value and are considered artistically and architecturally significant. Between them they represent most of the value of the entire portfolio. Among these buildings is the Bank’s historic headquarters in Milan in Via Santa Margherita, a few steps from Piazza della Scala. The façade on Piazza Ferrari was designed by prominent architect, designer and urban planner Luigi Caccia Dominioni. Palazzo Alinari in the historical centre of Florence and late 19th century building in the famous Via del Corso in Rome that connects Piazza Venezia to Piazza del Popolo.

According with Ardian’s strategy, these five prestigious buildings will be the subject of redevelopment which will aim to create office and retail space.

In the coming weeks, Banca MPS and Ardian will enter into a Preliminary Sale and Purchase Agreement. The completion of the planned acquisition, for most properties, will be complete by the second half of 2020.

Rodolfo Petrosino, Senior Managing Director Southern Europe of Ardian Real Estate, commented: “We are very pleased about the acquisition of this significant real estate portfolio, boasting some unique trophy assets. Our investments in Italy, in the real estate sector, now rise to around €1 billion and positions us among the most active players in the Italian market. This is largely due to the skills and experience of our local team and Ardian’s international platform. We have already made significant investments in Italy and we will continue to select promising opportunities in the core-plus and value-added real estate segment”.

Advisors for Ardian were NCTM for the legal, fiscal and administrative part, Studio Gattai, Minoli, Agostinelli Partners and Studio Legale Gattamelata e Associati for the administrative due diligence and REAAS for the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt

Follow Ardian on Twitter @Ardian

www.ardian.com

PRESS CONTACTS

ARDIAN – UK
Gregor Riemann
Headland Consultancy
griemann@headlandconsultancy.com
Tel: +44 (0)20 3435 7483
ARDIAN – Italy
Image Building
ardian@imagebuilding.it
Tel: +390289011300

 

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KKR, IGIS and SK D&D Acquire Namsan Square in Seoul

KKR

SEOUL, South Korea–(BUSINESS WIRE)– Global investment firm KKR, Korea’s largest real estate fund manager IGIS Asset Management (“IGIS”), and leading Korean real estate developer SK D&D today announced their acquisition of Namsan Square, an office tower located in the central business district of Seoul, from a real estate investment trust operated by KOREIT, a domestic asset manager in Korea.

Built in 1978, Namsan Square is strategically located at the gateway to Seoul’s central business district. It occupies more than 75,000 square meters across 23 floors of premium office and retail space and includes tenants such as multinational and South Korean corporations, as well as government organizations. Formally known as Kukdong Building, Namsan Square has been renovated through the years and today holds a LEED Gold green building certificate.

The consortium plans to enhance the workspace environment by upgrading the building façade, restrooms and the retail arcade without disruption to existing tenants.

David Cheong, a Director on KKR’s Asia Real Estate team, said, “South Korea holds terrific potential for real estate investment, and the market is a core part of KKR’s regional real estate strategy. Namsan Square is particularly compelling as one of Seoul’s preeminent commercial buildings, and we are extremely pleased to have the opportunity to collaborate with IGIS and SK D&D to significantly improve existing tenants’ overall experience and work-life balance by executing various refurbishment and value-add works.”

Junho Pok, Head of Real Estate Development at IGIS, said, “We are excited to extend our relationship with a world-class investor like KKR to invest in this high-quality property at the gateway of Seoul’s business district. The IGIS team looks forward to bringing our extensive experience renovating real estate projects to Namsan Square and enhancing this property for tenants in the years to come.”

Sun-Pyo Hwang, Head of Real Estate Development Division at SK D&D, said, “This is a compelling investment made alongside strong local and global partners. Through proactive management and our ability to enact key improvements, we look forward to adding value to Namsan Square and enhance the working experience for tenants.”

KKR takes a flexible approach to real estate investment in Asia Pacific across traditional value-add real estate opportunities, corporate and platform investments, and special situations. KKR pairs the capabilities of its local teams in Asia Pacific with the Firm’s global industry and operational expertise to add value. KKR has committed more than US$1.4 billion of equity in its pan-regional real estate strategy, as of December 31, 2019.

South Korea is a key part of KKR’s Asia real estate strategy, and Namsan Square is the Firm’s fourth real estate investment in the country. Previous investments include The-K Twin Towers, a prime office complex located in Seoul’s Gwanghwamun district, Renaissance Parc, a mixed-use real estate development project in Seoul’s Gangnam business district, and the BLK Pyeongtaek Logistics Center development in Pyeongtaek.

KKR makes its investment from its real estate fund. Further details of the transaction are not disclosed.

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.

Media Contacts:
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

The Signature (for KKR Korea)
Nuri Hwang
+82 2 6951 3557
Nuri@thesignature.co.kr

Source: KKR

 

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EQT Credit completes unitranche financing to support Mayfair Equity Partners’ acquisition of atHome Group

eqt

EQT Credit, through its Direct Lending investment strategy, is pleased to provide committed senior debt facilities to support Mayfair Equity Partners (“Mayfair”), a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors, in its acquisition of a majority stake in atHome Group (“atHome” or the “Company”). Oakley Capital (“Oakley”) will retain a minority stake in the Company.

atHome is a leading online classifieds platform in Luxembourg, with the number one position in its core property classifieds market, as well as a growing presence across the automotive and mortgage broking verticals.

Vivian Ngan, Director at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “We were particularly attracted by atHome’s strong competitive position and impressive track record of growth achieved by its first-rate management team. We would like to thank our sector experts who, as senior executives in the classifieds sector, provided key support and insight to the deal team throughout the due diligence process.”

Andrew Cleland-Bogle, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, added: “atHome is a well-established player with strong brand awareness in the Luxembourg classifieds market. This transaction represents another example of the Credit platform’s ability to provide long-term capital as a committed partner to sponsors and management teams as they continue to grow their businesses. The Credit platform is delighted to be backing Mayfair, Oakley and the management team on this deal and look forward to supporting them in their continued development of the Company.”

Contact
Andrew Cleland-Bogle, Partner at EQT Partners, +44 20 7430 5510
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 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 EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.

More info: www.eqtgroup.com/business-segments/credit/strategies/

About Mayfair Equity Partners
Mayfair Equity Partners is a buyout and growth capital investor providing capital to dynamic businesses in the TMT and Consumer sectors. Its primary focus is on building strong partnerships with exceptional management teams. Mayfair is an investor in OVO Energy, a high-growth tech-enabled challenger brand in the energy space, YO!, a multi-brand multi-channel sushi platform with operations across the UK, Canada and the US, SuperAwesome, a global high-growth digital marketing business whose technology platform enables brands and agencies to deliver kid-safe digital advertising to under-thirteen audiences and Pixomondo, the VFX house behind the Emmy-winning HBO series Game of Thrones and the Oscar-winning 2011 film Hugo, as well as seven other promising growth businesses.

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EQT Credit completes financing to support growth of Dukes Education

eqt

EQT Credit, through its Direct Lending investment strategy, is pleased to announce that it has provided incremental committed credit facilities to support the continued growth of Dukes Education Group (“Dukes” or the “Company”).

Founded in 2015 by Aatif Hassan, Dukes is a leading UK-based provider of private premium nurseries, K-12 schools, colleges and summer schools, as well as university consultancy services.

Andrew Cleland-Bogle, Partner at EQT Partners and Investment Advisor to EQT Credit, commented: “Dukes comprises a portfolio of schools with outstanding quality and strong academic results. We have been impressed by the high calibre of Aatif and his management team, as well as the track record of growth achieved during our continued partnership. This transaction marks one of several made by the Credit platform in the education sector and is another example of the platform’s ongoing ability to provide long-term support to founder-led companies as they expand.”

Aatif Hassan, Founder and Chairman of Dukes, commented: “EQT Credit’s support has been unwavering. We are pleased to have them as a committed long-term partner as we continue to grow our family of best in class schools and educators.”

Contact
Andrew Cleland-Bogle, Partner at EQT Partners, +44 20 7430 5510
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

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 19 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

About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings.

More info: www.eqtgroup.com/business-segments/credit/strategies/

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Oakley Capital agrees sale of atHome to Mayfair Equity Partners

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has reached an agreement to sell a majority stake in atHome Group (“atHome”), a leading online classifieds and mortgage broking business in Luxembourg, to Mayfair Equity Partners, a U.K. based buyout and growth capital investor. Following the transaction, Oakley Fund III will retain a minority stake in the business.

Fund III originally invested in atHome in 2017, as part of the acquisition of a portfolio of classifieds businesses, which comprised Casa.it in Italy and atHome.lu in Luxembourg. Under Oakley’s ownership, atHome has successfully consolidated its leading market position in its core property classifieds market, whilst expanding into mortgage broking and automotive classifieds through strategic bolt-on acquisitions. Over the three years of Oakley’s investment, atHome has increased EBITDA by over 80% and its websites are among the most visited in Luxembourg.

Following the transaction, Fund III will retain its stake in Casa, which continues to benefit from the growth in the Italian online property classifieds sector, as well as a minority stake in atHome. The partnership with Mayfair and the existing management team will allow Fund III to participate in the future growth of atHome as it continues to expand on its market leading offering to consumers and customers, and deliver growth across its core property, mortgage and automotive verticals.

Macquarie Capital acted as atHome’s financial advisor in connection with this transaction.

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Bain & Company, along with CVC, finalise terms of investment in EcoVadis

New collaboration enables further integration of sustainability, fair labor practices and ethics into enterprise supply chains and business commerce

Bain & Company today announced it has made a minority investment in EcoVadis, the world’s most trusted provider of business sustainability ratings for global supply chains. The collaboration will accelerate and deepen both companies’ offerings for improving the environmental, social and governance (ESG) performance of their collective clients.

Focused on creating “the highest levels of value” for its clients, Bain & Company notes a comprehensive emphasis on economic, social and environmental value in its aims. This indicates a growing acknowledgement across the firm and the global industries it serves —including private equity, consumer products, energy, finance, and technology—that the purpose of business must go beyond the singular focus of maximizing shareholder value.

Bain & Company will integrate EcoVadis’ sustainability ratings into its approaches to corporate strategy, supply chain and procurement. They will also seek to develop a focused approach around specific offerings for financial investors across fund strategy, diligence and post-acquisition.

Bain & Company’s investment, coupled with EcoVadis’ recently secured c.$200m investment from CVC Growth Fund II, will enable EcoVadis to scale growth and maximize its impact on  enterprise supply chains, embedding sustainability into business decision-making and corporate performance.

“Recognizing that social and environmental challenges are growing, timelines for addressing them are contracting, and companies are moving quickly to adapt, Bain & Company is committed to our mission of creating value – economic, social, and environmental – for our clients,” said Jenny Davis-Peccoud, co-head of Bain & Company’s global Sustainability & Corporate Responsibility Practice.

Practice co-leader Jean Charles Van den Branden, commented, “Joining forces with EcoVadis, which has a strong presence and reputation, as well as access in the ESG space, directly supports our strategy and enables us to create a highly differentiated offering across our various practice areas.”

“Bain & Company’s investment represents another substantial milestone for EcoVadis. The investment is a strong testament to the value and business-critical role that sustainability plays in today’s market,” said Pierre-Francois Thaler, co-CEO and co-founder of EcoVadis. “We continue to see executives from all over the world share bold plans for sustainability and ESG transformation. Collaborating with Bain & Company and CVC equips us to reach, enable and impact more organizations and communities globally.”

“Environmental, social and governance issues are critical to business success, economic growth and societal improvement, and we are looking forward to working closely with two partners who rightly place these factors at the core of their business strategies,” said Aaron Dupuis, partner, CVC Growth Partners. “This collaboration with Bain & Company coupled with our recent investment is a real game changer for EcoVadis, and we are excited to back this new partnership with the full weight of the CVC network.”

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Gimv to enter partnership with Köberl Group to achieve further growth in the facility management and technical building services sector

GIMV

20/02/2020 – 17:50 | Portfolio

Gimv acquires a majority stake in Munich-based Köberl Group, including Fink Gebäudetechnik GmbH & Co. KG and GEMA Gebäudemanagement GmbH & Co. KG. The aim of the partnership is to sustainably further the group’s long-term growth together with the current managing owners, who will remain in their current roles. The focus will be on strengthening its own inhouse services, expanding regionally and driving digitalisation efforts. With Gimv, the Köberl Group will now also be able to reinforce its market position through external growth.

GEMA Gebäudemanagement GmbH & Co. KG together with SGM Süddeutsche Gebäudemanagement GmbH is an innovative and agile specialist, who acts as a one-stop-shop for technical, infrastructural and commercial facility management, in particular for residential and commercial buildings. The unique selling proposition of GEMA Gebäudemanagement is the adaptability and synchronisation of its own processes with the process landscape of clients, specifically tailored to each client’s business needs. This allows for optimal, value-enhancing fulfilment of its contractual obligations. In addition, customers can track all relevant processes and events along the building lifecycle online and in real-time. Fink Gebäudetechnik GmbH & Co. KG is one of Munich’s most renowned providers of technical building services for heating, ventilation and sanitary systems. In addition to a focus on building renovations and conversions, Fink Gebäudetechnik also acts as a technical general contractor. The Köberl Group has long-standing experience in its markets, profound technical competence as well as a strong network of regional and local suppliers and customers.

In recent years, Fink Gebäudetechnik has received several awards for its apprenticeship and training programs, for example the “Erasmus-Grasser-Preis” by the city of Munich, the “Bayerns Best 50” award by the Bavarian Ministry of Economic Affairs and the “Deichmann-Förderpreis für Integration” at both state and federal level. For its social engagement the company received a Bavarian family entrepreneurs award in 2016. GEMA Gebäudemanagement also received the “Bayerns Best 50” award in 2019. The group will continue to focus on personnel expansion and human resources, including apprenticeship and training programs as well as cooperation with universities.

In addition to expanding into new regional markets, the Köberl Group also plans to strengthen its own inhouse services, drive digitalisation efforts and expand its services portfolio. The aim is to strengthen its position as a full-service provider based on customer-specific concepts in facility management as well as its position in building technical services with a broader but continuing high-quality offering. This will also benefit both employees and customers of the group.

Managing owners Armin and Karl Köberl decided to bring Gimv on board as a financially strong and long-term oriented partner. The investment of Gimv supports the group’s future development, which now also includes acquisitions, long-term personnel growth, but also its potential to optimally meet future requirements of the market. Armin and Karl Köberl will retain a significant minority share and will remain with the group in their current roles as managing owners.

Armin and Karl Köberl, managing owners of Köberl Group, comment: “Our decision to partner with Gimv was very deliberate, because this partnership also allows us to ideally realise our considerations for the group’s future. We are happy to have found an experienced investment firm, which perfectly matches our goals – an orientation towards long-term growth, introducing new services, ensuring quality and creating jobs – without imposing the strict investment holding periods of typical private equity funds. With our continuing mid-market approach, we will continue to meet the demands of our customers in an agile, structured and process-oriented manner. Therefore we will significantly contribute to enhancing the value of the properties managed by us.”

Maja Markovic, responsible for Gimv’s Sustainable Cities platform in the DACH region, adds: “GEMA and Fink have an excellent reputation and position in the growing market for facility management and technical building services. Köberl Group will benefit from increasing requirements regarding building technologies, energy efficiency, cost effectiveness and saving of resources. These themes perfectly fit with our investment thesis on growing sustainability, most notably in the infrastructure, environment and logistics sectors. We are looking forward to our partnership and cooperation with Armin and Karl Köberl to implement the group’s strategic goals.”

This new investment will become part of Gimv’s Sustainable Cities platform, which, in additional to more general B2B services, focuses on sustainability across various sectors. The transaction is subject to customary closing conditions, including approval by competition authorities. No further financial details of the transaction are being published.

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ARDIAN REAL ESTATE ACQUIRES OFFICE BUILDING IN MILAN

Ardian

The transaction was conducted through a multi-compartment SICAF managed by Prelios SGR

Milan, February 17, 2020 – Ardian, a world-leading private investment house, has acquired a 7,000 sq.m building in Piazza Fidia 1, Milan, from Generali Real Estate S.p.A. SGR. The acquisition marks Ardian Real Estate’s third investment in Milan, and eighth in Italy.

Built in 1968, the free-standing office building in Milan’s dynamic Isola district is strategically located half-way between Porta Nuova and Scalo Farini, a disused railway yard due to be fully redeveloped as part of a wider redevelopment plan for the area.

The refurbishment plan for the building will involve a complete refurbishment in line with the highest international standards for energy performance, sustainability and architecture.

The purchase is Ardian’s second acquisition through the SICAF, an independently managed fixed-capital real estate multi-compartment investment company managed by Prelios SGR, in which Ardian is the sole investor. The SICAF previously acquired an office building in Via Roncaglia 12/14 in a central area in south-west Milan, from Sator Immobiliare SGR.

As an investor in AIFs managed by Prelios SGR, Ardian Real Estate has invested approximately €500 million to date in properties in Milan and Rome mainly intended as office buildings.

Rodolfo Petrosino, Senior Managing Director for Ardian Real Estate’s operations in Southern Europe, said: “This deal perfectly highlights our strategy of investing in the best core plus-value added opportunities in the Italian market, where we can create value through our important partnership with Prelios. The redevelopment plan, to be launched shortly, will transform the area, and will enable us to attract high-quality tenants for this building.”

Alessandro Busci, Head of Fund Management at Prelios SGR, added: “We are proud of our partnership with Ardian Real Estate, which has been strengthened through this new acquisition. In a competitive market, achieving returns that match investors’ risk appetites depends increasingly on the fund manager’s ability to maximize the value of the assets under management. So, we are delighted that Ardian Real Estate, and our investors, see Prelios SGR as an effective partner that can help them achieve their objectives. The building will be redeveloped and repositioned so that we can make the most of its potential value.”

The transaction was completed with Chiomenti advising on legal and tax Gattai, Minoli, Agostinelli, Partners as administrative advisors, General Planning as architectural advisors and Agire who carried out the technical and environmental due diligence.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT PRELIOS SGR

PRELIOS SGR is the Prelios Group’s fund manager. One of Italy’s largest real estate and securities SGRs, which in 2018 obtained authorization from the Italian financial authorities to expand its operations into debt funds, it promotes and manages AIFs (investment funds and SICAFs) and separate accounts, and provides advisory services to assist leading national and international investors in drawing up and implementing effective investment and management strategies for real estate or real-estate-backed securities across Italy. At December 2019, Prelios SGR had assets under management for approximately 5.9 billion Euro through 36 funds, including two umbrella funds, two SICAFs and three separate accounts.
Prelios SGR is a signatory of the United Nations-supported Principles for Responsible Investment network, which works for the integration into investment practices of the six responsible investment principles incorporating environmental, social and corporate governance issues.

Follow Prelios on Twitter @Prelios and Linkedin

www.prelios.com

PRESS CONTACTS

ARDIAN
Headland
VIKTOR TSVETANOV
Tel: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk
Prelios Group Press Office
+39 02 6281.4176/4826 – pressoffice@prelios.com
Image Building
Tel. +39 02 89 011 300
prelios@imagebuilding.it
Tel: +390289011300

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Shippeo raises €20 million to provide real-time visibility into the global supply chain

Ngp Logo

Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.

Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.

Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.

The Series B round of €20 million in new equity is co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team

Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:

“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”

Bo Ilsoe, Partner of NGP Capital, stated: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding-value to the company through our global model and network.”

Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”

Shippeo will use the Series B funding:

  • To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining very high customer satisfaction,
  • To expand the team by 150 new recruits in data science, IT, sales and operations,
  • To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.

The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.

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