Monthly Archives: March 2020

airteam secures contract in connection with new underground line in Copenhagen

Ratos

airteam has secured a major ventilation and cooling contract in connection with construction of a new underground line to Copenhagen’s Sydhavn district. The project includes installations at five stations and two crossings.

airteam is carrying out the project for the contractor TUNN3L JV, a joint venture between the French company Vinci and the German Hochtief. The project is expected to be finished in 2024, with the start scheduled for 2021.

“This is an interesting project that will mean a lot for Copenhagen and its inhabitants for years to come. I’m proud that airteam has been chosen as a ventilation contractor in the construction of the new underground line to Copenhagen’s Sydhavn. This is a project that includes both cooling, traditional ventilation facilities and a solution for the tunnels’ fire ventilation system.

airteam was chosen based on our vast know-how, which is the result of many years of work in comfort and industrial ventilation, and not least based on our previous ventilation contract carried out at the underground at Nordhavn Station. As we accumulate further competence in this field, we will be well positioned for future infrastructure projects in Denmark, Sweden and other Nordic countries,” says Poul Pihlmann, CEO of airteam.

“This contract award is a proof of the strong position airteam has in the Danish market. As airteam has grown and delivered high levels of quality and customer satisfaction, we are now being invited to bid on the largest ventilation projects in Denmark. We remain optimistic about the future of our Danish operations, and about the potential to build the same position in the growing Swedish operation,” says Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos.

For further information, please contact:
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.se
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 1700

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Northlane Capital Partners Invests in VMG Health

Northlane

BETHESDA, Md.–(BUSINESS WIRE)–Northlane Capital Partners (“NCP”) announced today that it has made an investment in VMG Health (“VMG”), a leading full-service valuation and transaction advisory firm exclusively focused on the healthcare industry. NCP invested in partnership with VMG’s existing management team and key employees, led by Founder and CEO Greg Koonsman.

“We are very excited to partner with VMG. The company’s compelling value proposition and best in class team, coupled with the continuously evolving healthcare regulatory landscape, provide a strong foundation for future growth.”

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Founded in 1995, VMG Health provides compliance related transaction services including: business, real estate, and asset valuation, physician compensation plan design and valuation, buy side and sell side quality of earnings, litigation and dispute services, and reimbursement consulting. Additional information is available at www.vmghealth.com.

“I am thrilled that we have entered into a partnership with Northlane Capital Partners to continue our firm’s legacy of healthcare transaction expertise. We share a vision with NCP for the next phase of our company as the market leader in healthcare valuation, diligence services, and consulting. Our singular focus in healthcare allows us to differentiate our core services of healthcare business and real estate related valuation, quality of earnings and diligence, physician compensation consulting and valuation, and reimbursement related consulting. Now in our 25th year, we will continue to build the VMG Health brand which has been synonymous with expertise, quality, and responsiveness to our customers,” said Greg Koonsman, Founder and CEO of VMG.

Eugene Krichevsky, Partner at NCP, noted, “VMG is the clear leader in a niche within the healthcare sector where we can utilize our industry expertise and network to help create value. We look forward to working alongside Greg and the VMG team to continue to broaden VMG’s capabilities and customer base, both through organic growth initiatives and the acquisition of complementary service lines.”

Sean Eagle, Partner at NCP, added, “We are very excited to partner with VMG. The company’s compelling value proposition and best in class team, coupled with the continuously evolving healthcare regulatory landscape, provide a strong foundation for future growth.”

ABOUT NORTHLANE CAPITAL PARTNERS

Based in Bethesda, MD, Northlane Capital Partners is a private equity firm focused on key segments within the healthcare and business services sectors, where its principals have invested $1.5 billion of equity capital. NCP seeks investments in middle market companies based in North America with EBITDA of $5 million to $30 million. NCP’s strategy is to partner with industry leading companies and great management teams, aligning incentives to accelerate growth and build value. For more information, please visit www.northlanecapital.com.

Contacts

Eugene Krichevsky, Partner
(301) 841-1399

Sean Eagle, Partner
(301) 841-1377

JJ Carbonell, Vice President
(301) 841-1420

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Nordic Capital increases its shareholding in Norwegian Finans Holding ASA

Nordic Capital

Nordic Capital Fund IX (“Nordic Capital”) has, through its wholly owned subsidiary Cidron Xingu Limited, last night acquired 7,598,162 shares in Norwegian Finans Holding ASA (“Bank Norwegian”) from a group of sellers including Green 91 AS, a company owned by Lars Ola Kjos, at a price of NOK 35 per share. The acquisition was made to strengthen Nordic Capital’s position as the largest shareholder and following the transaction, the holding will amount to 30,646,498 shares, corresponding to 16.4% of the total shares outstanding. In total, Nordic Capital and Sampo collectively own 42,472,603 shares, corresponding to 22.7% of Bank Norwegian following the transaction.

In August 2019, Nordic Capital together with Sampo signed an agreement to become the largest shareholders in Bank Norwegian. The acquisition was completed in October 2019.

Nordic Capital has extensive experience and a strong track record in the financial services sector in the Nordic region and continues to see Bank Norwegian as an interesting company with strong growth potential.


Press contact
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and Industrials & Business Services. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 14.5 billion in over 110 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com

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Belgian wallpaper producer Grandeco expands its shareholder base

GIMV

20/03/2020 – 07:30 | Portfolio

Grandeco announces a reorganisation of its shareholder base: Down2Earth Capital (D2E) comes in as majority shareholder, while Gimv and management remain on board and reinvest significantly. By broadening the investor group, Grandeco seeks to strengthen its position as a future-proof market leader in decorative wallpaper, including through potential strategic acquisitions.

Grandeco Wallfashion Group Belgium (Tielt – BE, www.grandecogroup.com) is one of the world’s leading wallpaper producers. With a state-of-the-art Belgian production plant and a compound average growth rate of 3.2% in recent years, it is largely outperforming the market. Grandeco has six sales offices in Belgium, the United Kingdom, France, Poland, Russia and Germany, a dynamic team of more than 300 employees and is represented in more than 80 countries. Today, Grandeco is an innovative, customer-oriented group that responds to the demand for a personal style in a global market through distinguished collections and digital printing.

Patrick Molemans, CEO Grandeco, about this transaction: “With Gimv’s unconditional support we have succeeded in transforming ourselves into an attractive and strongly market-oriented company. The time is now right to shift up a gear: with new shareholder D2E we want to further strengthen Grandeco’s market power going forward. With carefully targeted acquisitions and a continued  focus on organic growth and returns, we will maintain our  leading sustainable position (product range and customer portfolio) and achieve the best results in the worldwide market for decorative wallpaper.”

Tom Van de Voorde, Managing Partner Gimv and contact person for Grandeco so far: “After the difficult years at the time of the financial and economic crisis in 2008, Grandeco has become the future-proof market leader in decorative wallcovering thanks to the continued efforts of its staff and management, through forward-looking investments in growth and technology and through its commercial repositioning.”

Barbara Arnst, Partner in the Connected Consumer platform of Gimv and now part of the deal team, adds: “With a lasting belief in the company we look forward to positioning Grandeco Group even more as a contemporary, digital and sustainable player towards the modern consumer. Together with our partner D2E, we want to further realize the external growth opportunities – including strategic acquisitions.”

Alain Keppens, Partner Down2Earth Capital, about this transaction: “Grandeco is a market performer in a highly fragmented industry, the company has achieved above-average growth and profitability in recent years. In addition to its strong reputation in analogue printing, the company has a clear advantage in the area of digital printing. Together with our partner Gimv and the strong management team, we look forward to further building the company into one of the Pan-European market leaders.”

Grandeco is part of Gimv’s Connected Consumer platform, which invests in companies with a clear vision of the needs and preferences of today’s consumer,

Over the entire period, the investment offered a positive return with only a small impact on the net asset value of Gimv per 30 September 2019. No further financial details on the transaction are being published.

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EQT sets hard cap for EQT IX at EUR 15 billion

eqt

EQT has today set the hard cap for investor commitments of EUR 15 billion for the EQT IX fund. A hard cap refers to an upper limit on the amount of investor commitments accepted as part of the fund. The actual fund size is dependent on the outcome of the fundraising process.

As previously communicated, the target fund size for EQT IX is EUR 14.75 billion and the fund’s investment strategy and commercial terms are expected to be materially in line with the predecessor fund EQT VIII.

Invitation to telephone conference call on Thursday March 19 at 11.30 CET
EQT invites to a telephone conference on Thursday March 19 at 11.30 CET. At the telephone conference, Christian Sinding, CEO and Managing Partner, Caspar Callerström, COO, and Kim Henriksson, CFO, will give a general update and answer questions, among others, around the COVID-19 pandemic (see letter to EQT’s fund investors on EQT’s website).

Dial-in details: 
PIN:    94153342#
SE       +46 856642651
UK       +44 3333000804
US       +1 6319131422

Webcast URL:
https://edge.media-server.com/mmc/p/zothabsr

Transcript:
Transcript from telephone conference

Contact
Nina Nornholm, Head of Communications, +46 70 855 03 56
Pawel Wyszynski, Shareholder Relations Officer, +46 72 987 36 44
EQT Press Office,press@eqtpartners.com, +46 8 506 55334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT IX will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America.  Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

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

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

EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 40 billion in assets under management across 19 active funds within three business segments – Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.

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

More info:www.eqtgroup.com
Follow EQT on:twitter.com and www.linkedin.com

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EG Acquires Holte

Franciso Partners

EG has acquired the software company Holte, the Norwegian market leader within software to the construction industry. The acquisition is part of an ambitious EG-strategy to digitize the construction industry in Scandinavia.

“By combining EG’s and Holte’s product portfolio we can deliver the best solution to manage the complex processes and data flow within the construction industry” says Mikkel Bardram, CEO at EG, and continues “I am impressed with Holte’s deep knowledge of the construction industry and how they have digitized every step of the construction process. I look forward to welcoming Holte’s employees to the EG family.”

Holte is the Norwegian market leader within software for the construction industry with solutions that assist construction companies to manage all steps of a construction process from project calculation to complete documentation and follow up. The company has 8,000 customers and 50,000 users in Norway. The acquisition is a great fit with EG’s leading position in the construction business in Denmark. EG and Holte are both experts within the construction industry and offer a broad set of modules in an integrated software platform. “We transform complex processes into simple intuitive solutions for our customers. By combining the strengths of EG and Holte we create a true Scandinavian champion within software solutions for the entire construction sector” says Jesper Andersen, EVP, EG Private.

EG strongly believes in the need for consolidation within software solutions for the construction industry and has already acquired the Danish construction software company CalWin in October 2019.

“We see EG as an ambitious strong owner who will invest in the continued development of Holte’s solutions in an international market. There is a great potential for a comprehensive digitalization in the construction business” says Eilif Holte, founder of Holte.

Aleksander Bjaaland, CEO in Holte, adds “EG and Holte are a perfect match and our already existing collaboration shows good cultural fit. We share the same focus on long-term customer relationships and high customer satisfaction.” Aleksander Bjaaland will continue as CEO of Holte and Vice President of the combined Construction unit in EG.

EG acquired Holte on 17 March 2020. Seller and buyer have agreed not to disclose further details concerning the sales price and other terms of the transaction.

About EG A/S

EG is a Scandinavian software company with more than 1,000 employees working from 15 skill centres in Scandinavia and Poland. We develop, deliver and service our own software for more than 9,500 private and public clients.

Find out more at https://eg.dk/

About Holte

Holte is a Norwegian leading supplier of software, services and courses within disciplines such as HSE, quality assurance, building permit applications, estimation, third party control, management, operation and maintenance (MOM) and project management.

Holte was established in 1987, has 135 employees and offices in Oslo, Trondheim, Tønsberg og Gdansk.

Find out more at https://holte.no

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IK Investment Partners appoints Tom Salmon as Small Cap Partner

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that Tom Salmon has joined the Small Cap team as a Partner. Tom will be based in IK’s London office, primarily focusing on the origination of investment opportunities in the UK with an Enterprise Value of up to c. €100m.

Tom joins IK from Duke Street Private Equity where he was a Partner. Prior to Duke Street, he was a Partner at 3i where he co-managed the UK team and spent 13 years covering origination, execution and portfolio management. Tom has substantial investment experience and has been involved in numerous transactions, including Great Rail Journeys, Audley Travel, JMJ and NCP. He studied at Oxford University and is a Chartered Accountant.

“The past twelve months represent yet another strong period of growth for IK. We have expanded the breadth and depth of our firm with over 30 new hires, employing a team of more than 75 investment professionals and a total of 130 staff across eight offices. The appointment of Tom will allow us to begin building a presence in the UK, benefitting from his wealth of investment experience combined with our pan-European platform,” said Christopher Masek, CEO at IK.

“I am thrilled to join IK as their first UK-based Partner focusing on the Small Cap segment. IK has a 30-year track record of creating value and a well-established platform across Europe. The size of the UK Small Cap market and entrepreneurial nature of its businesses provide a compelling investment opportunity. I believe IK’s local investment teams across six European countries as well as the firm’s successful sector focus will bring a clear differentiated approach to the UK’s burgeoning Small Cap market,” said Tom Salmon.

IK’s Small Cap team partners with management teams who are looking for support to help them achieve the next stage of their growth and development, across IK’s four core sectors: Business Services, Consumer/Food, Engineered Products and Healthcare.

For enquiries, please contact:

Maitland/AMO
James McFarlane
Phone: +44 207 379 5151
jmcfarlane@maitland.co.uk

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, Benelux and the UK. 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

Categories: People

CVC Credit Partners completes financing to support buyout of WesCom Signal & Rescue

Deal marks the third occasion CVC Credit Partners have partnered with Sun European Partners

CVC Credit Partners is pleased to announce that its European Private Debt business has supported the buyout of WesCom Signal & Rescue (“WesCom”) by an affiliate of Sun European Partners. CVC Credit will provide a senior term loan as well as facilities to support WesCom’s expansion plans.

Founded in 1885, WesCom is the global leader in the design, manufacture and distribution of pyrotechnic rescue signalling devices. WesCom produces mission critical products which it sells through an extensive global network of over 1,000 ports across 70 countries.

Alex Wyndham at Sun European Partners, commented: “We are very pleased to have partnered with CVC Credit Partners again, we have worked with Neale and his team on multiple occasions before and their experience and knowledge have always added significant value, both prior to and throughout our periods of ownership.”

Neale Broadhead, Head of European Private Debt in CVC Credit Partners’ European Private Debt business, added: “WesCom is the clear leader in a stable market with embedded regulatory growth drivers and limited cyclicality. It provides high-quality and mission critical products to a loyal customer base and is run by an experienced management team. We have supported Sun European Partners in the past and look forward to working with them again as they look to accelerate growth at WesCom.”

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KKR Announces Intra-Quarter Monetization Activity for the First Quarter

KKR

NEW YORK–(BUSINESS WIRE)– KKR today announced a monetization activity update for the period from January 1, 2020 through March 12, 2020. Based on information available to us as of today, with respect to the period through March 12, 2020, KKR has earned gross realized carried interest and total realized investment income of approximately $490 million. This is driven primarily by strategic and secondary sale transactions that have closed quarter to-date, as well as dividend and interest income from KKR’s balance sheet portfolio.

The estimate disclosed above is not intended to predict or represent the total revenues for the full quarter ending March 31, 2020, because it does not include the results or impact of any other sources of income, including fee income, losses or expenses. This estimate is also not necessarily indicative of the results that may be expected for any other period, including the entire year ending December 31, 2020.

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.

Forward-Looking Statements

This press release may contain forward-looking statements, including estimated operating results from certain monetization activities. Words such as “expect,” “estimate,” “will,” “may” and “believe” or similar expressions may identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those included in these forward-looking statements, and investors should not place undue reliance on such statements. These forward-looking statements speak only as of the date of this press release, and we do not undertake any obligation to update or revise any of the forward-looking statements to reflect future events or circumstances, except as required by law.

Investor Relations:
Craig Larson, 1-877-610-4910 (U.S.) / 212-230-9410
investor-relations@kkr.com
or
Media:
Kristi Huller, 212-750-8300
media@kkr.com

Source: KKR & Co. Inc.

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Latour acquires Waterloo Air Products

Latour logo

Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, acquired Waterloo Air Products, a leading manufacturer of grilles and diffusers in the UK. The company was founded in 1961 and has 140 employees with the head office and manufacturing located in Aylesford. Net sales in 2019 amounted to 12 MGBP.

“The UK, as Europe’s second largest ventilation market, has long been a priority for Swegon and several previous successful UK acquisitions has contributed well to the overall growth and profitability of the group. This acquisition gives us a market leading position in grilles and diffusers, enhancing our ability to serve our customers with a full offering for high indoor environmental quality”, says Hannu Saastamoinen, CEO at Swegon Group.

”Becoming part of Swegon will provide the capability to accelerate our growth. Our product range is the perfect complement to Swegon’s overall offering and will allow both businesses to develop and grow”, says Russell Shenton, Managing Director at Waterloo.

 

Göteborg, 11 March, 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

 

For further information, please contact:
Hannu Saastamoinen, CEO Swegon +46 31 89 58 10
Gustaf Ahlenius, Director Corporate Development Swegon +46 31 89 58 19

 

Swegon Group is a market leader in energy efficient ventilation and indoor climate products and systems. Swegon has subsidiaries in 16 markets, distributors all over the world and 16 production plants in Europe, North America and India. The company employs more than 2,400 people with an annual turnover exceeding SEK 6 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 55 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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