Waterlogic closes on long-term investment from strong institutional partners to accelerate growth ambition

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the closing of the acquisition of a significant minority stake in the company by four strong institutional investors – BCI, Neuberger Berman, StepStone, and Skandia.

Following January’s announcement of British Columbia Investment Management Corporation (BCI) entering into an agreement to acquire a significant minority stake in Waterlogic from Funds managed by Castik Capital and the Waterlogic management team, Waterlogic and Castik Capital complete the transaction and include three additional partners.

BCI, with C$153.4 billion in assets under management (as of March 31, 2019), is a leading provider of investment management services to British Columbia’s public sector and one of Canada’s largest asset managers. Joining BCI as minority shareholders in Waterlogic are:

  • Neuberger Berman, a private, independent, employee-owned investment management firm that manages equities, fixed income and private equity portfolios for global institutional investors, advisors and high-net-worth individuals;
  • StepStone, a global private markets firm providing customised investment and advisory solutions to some of the most sophisticated investors in the world; and
  • Skandia, a mutual life insurance company with SEK 692 billion under management as of 31 December 2019, provides pension, banking and insurance services to the population of Sweden.

Jeremy Ben-David, Founder and Group CEO of Waterlogic, said: “This is a very pleasing result and a testament to Waterlogic’s businesses resilience, especially considering the unprecedented economic downturn and turbulent times we currently find ourselves in. The acquisition provides further access to capital in support of Waterlogic’s growth ambition to become the global leader in the fast-growing market for bottle-less workplace hydration. We look forward to continuing our journey with Castik Capital and the new shareholders in this next exciting phase of our growth.” 

Waterlogic has a direct presence in 17 countries including the UK, USA, Canada, Chile, Australia and Western Europe, and an extensive independent global distribution network reaching over 50 countries around the world. The company is responsible for hydrating nearly 50 million consumers daily and contributes to the reduction of 23.8 billion single-use plastic bottles around the world each year.

Waterlogic aims to build on its capabilities and customer base in both established and new geographic markets in pursuit of its mission to offer healthy drinking water solutions and contribute to the reduction of plastic pollution globally with a range of freestanding and countertop dispensers, Billi integrated dispensers and Purezza, the company’s specialty restaurant and hospitality solution.

Inspired by innovation, Waterlogic has embraced superior FirewallTM and BioCote® technologies to create cutting-edge, highly certified products focused on delivering the safest, best-tasting water to all businesses in the most sustainable way. The company’s approach to Environmental, Social and Governance (ESG) supports the growing demand from organisations looking to reduce the plastic pollution and high CO2 emissions associated with bottled water, and supports Waterlogic’s long-term growth, relevancy and financial standing in the marketplace.

Waterlogic has annualised revenues of c. $400M and c. 550k water dispensers on rental and service contracts across 17 direct markets and employs over 3,000 people worldwide. Waterlogic was advised on the transaction by Goldman Sachs International, Skadden (legal), PwC (financial and commercial), Deloitte (tax), L.E.K. (commercial), and EY (Luxembourg legal).

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

 

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and solutions designed for environments such as offices, factories, hospitals, restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the most sustainable way. Founded in 1992, Waterlogic was one of the first companies to introduce mains-fed dispensers to customers worldwide and has been at the forefront of the market promoting product design and water quality, the application of proprietary technologies, sustainability and world-class sales and service. Waterlogic has its own subsidiaries in 17 countries and its leading markets are the U.S., Australia and Western Europe, in particular the UK and Germany. In addition, Waterlogic’s extensive and expanding independent global distribution network reaches over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. More information can be found at www.waterlogic.com.

DIF Capital Partners closes refinancing Finnish district heating network

DIF

DIF Capital Partners is pleased to announce the closing of the refinancing of Loimua’s (formerly known as Elenia Heat) acquisition debt facilities.

DIF Capital Partners, together with its partners LPP Infrastructure and Aberdeen Standard Investments, acquired Loimua in July 2019 with DIF Infrastructure V (link to original press release). Loimua is the second largest private supplier of district heating in Finland, providing environmentally sustainable heating to residential, commercial and public sector customers. The company owns and operates 640 MW of heat production capacity across 16 networks, covering circa 500 kilometers and circa 4,600 supply points (85,000 end-users).

Through the refinancing of the acquisition facilities Loimua established a common terms multi tenor debt platform including long term bank debt and 10, 12, and 14 year private placement tranches from institutional debt providers, alongside working capital facilities for general and capex financing purposes. The refinancing further de-risks the company’s long term capital structure and provides operational flexibility to deliver growth in line with the business plan. The transaction was concluded at favourable terms and covenants, emphasizing that there is still strong support from debt providers for stable and sustainable businesses such as Loimua despite the recent capital market developments.

DIF Capital Partners and its partners were advised by DC Advisory (financial) and Shearman& Sterling (Legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.4 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

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

DIF has a team of over 140 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

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Celebrating CloudGenix’s $420M Acquisition By Palo Alto Networks

BainCapital

Today, Palo Alto Networks closed its $420M acquisition of CloudGenix, an industry leader in software-defined wide-area network (SD-WAN).

I have had the privilege of knowing CloudGenix’s co-founder and CEO Kumar Ramachandran since November 2013.

We initially met on a Saturday morning at the DoubleTree in Pleasanton to discuss his new company. And while the location might have been less memorable, the meeting was not. We spent the next two hours sitting in the hotel lobby discussing the massive opportunity at hand: the myriad of reasons why customers might choose to move away from traditional MPLS routing to software-defined edge networking. We could see then what we know now to be true…

Software-defined edge networking not only offers increased functionality to MPLS routing, but is also easier to manage, more secure, and allows network administrators unprecedented visibility into their networks.

Couple this discussion on the advantages of software-defined networking with Kumar’s incredible passion on the topic. Within the first few minutes of our conversation, it was clear that Kumar felt strongly about networking being overcomplicated. There had to be a way to eliminate the need to have intimate knowledge of underlying protocols, while also simplifying the overall process of delivering applications to remote offices. He believed that he and the team at CloudGenix could deliver on these needs.

Shortly thereafter, in early 2014, I made my first investment in the company, and was invited to join the board. I was confident then in Kumar’s experience, leadership, incredible drive, and the team he and his co-founder Venkataraman Anand had assembled, and knew I wanted to be a part of the journey.

In April 2015, Bain Capital Ventures had the chance to invest as CloudGenix readied their product for initial shipment. We could see the demand for large enterprises to implement SD-WAN in order to effectively manage a complex, multi-cloud strategy, and how the CloudGenix team had capitalized on it; creating a best-in-class solution that autonomously tailors to each enterprise’s specific security and networking needs.

In the years following, I had the privilege of working with the leadership team on a number of key initiatives. Many of my fondest memories with the startup, however, are of the days I spent working alongside the field organization, engaging with prospects and customers to share the CloudGenix vision, and express Bain Capital Ventures’ support for the company.

Recognizing CloudGenix sales achievers in August 2019

Fast forward several years, and my confidence in Kumar, the team he’s built, and the award-winning product, has never been stronger. Just last year, CloudGenix announced a 300% year-over-year growth, as large enterprises made the switch from legacy incumbents, due in part to our work in the field, helping to win many highly competitive engagements against intense competition. This significant progress and growth is what spurred us to become CloudGenix’s largest investor in their latest funding round.

Today, as we all navigate through this period of uncertainty, and millions have been forced to work remotely, the need for an effective WAN to supply a secure network across a largely distributed workforce, has never been greater.

Palo Alto Networks, a leader in next generation firewalls, plans to extend its network reach further and consolidate the edge technology stack. They announced their intent to acquire CloudGenix for $420M on March 31st, 2019. It couldn’t be a better match.

Congratulations again to Kumar and the entire team at CloudGenix. We could not be prouder to have been a part of your journey since the early days, and cannot wait to see how you continue to revolutionize the networking industry.

Kumar Ramachandran and members of the CloudGenix team

COVID-19 has a negative impact on Finnish venture capital

Tesi

COVID-19 has a negative impact on Finnish venture capital and private equity backed companies, but most of them will be able to raise further financing from current investors

A market pulse survey for Finnish venture capital and buyout investors conducted by Tesi, Finnish Venture Capital Association, and Business Finland Venture Capital in April 2020 indicates that COVID-19 is negatively impacting 50% of VC portfolio companies and 62% of buyout portfolio companies. The survey does, however, show that in over 85% of companies, current owners can wholly or partially meet their financing needs over the next year. It seems that only a small proportion of companies is facing an immediate liquidity crisis.

“We’re in this rather good situation because these funds are well managed and they have taken sound precautionary steps,” comments Matias Kaila, Tesi’s Director, Fund Investments.

One-third of VC backed startups will run out of money in less than six months and one-third in 6-12 months’ time. One-third of startups have cash reserves for a year. The financing situation for startups does not, however, differ much from normal because many of them are financed in a way that they can manage short-term loss-making.

The situation has had a more adverse impact on later-stage growth companies, and their situation is rather worrying. Investors estimate that some 40% of later-stage growth companies will run out of funds in less than six months, and many of them in less than three months without follow-on financing. This differs clearly from the situation enjoyed before the crisis by profitable and established growth companies that were pursuing rapid growth in normal conditions.

In 58% of cases, buyout investors are able to meet the financing needs of later-stage growth companies over the next year. However, for more than half (59%) of the later-stage growth companies, it is uncertain whether they will receive further financing. 42% of startups will ride out the crisis with additional investments from their current VC investors. External financing, on the other hand, is available for only 30% of startups. Less than 15% of startups and later-stage growth companies completely lack follow-on financing.

“It’s important that we take the whole ecosystem into consideration. Taking action during the crisis will ensure that we have high-growth companies and success stories in different sectors in the future, too,” comments Pia Santavirta, Managing Director of the Finnish Venture Capital Association.

Although COVID-19 has a negative impact on one-half of startup companies, for 8-10% of them it has opened up new business opportunities and boosted demand. Only some 2-3% of later-stage growth companies are reaping the same benefits.

“At present, investors are willing and able to provide follow-on financing to their portfolio companies. We’ll continue to closely monitor the impact of COVID-19 on the Finnish venture capital and private equity market,” says Matias Kaila.

About the survey:

  • Altogether 27 investors responded to the market pulse survey, of which:
    16 make venture capital investments
    11 make buyout and/or growth investments
  • The survey was conducted 9th – 16th April 2020.
  • The survey covered 412 companies, of which 345 are registered in Finland.
  • Fund managers completed the survey comprehensively for all their funds and answered all the questions.
  • The company base was widely distributed across different sectors and development phases, and gives a fair representation of Finnish venture capital and private equity backed companies.

Survey results

 

For further information, please contact: 

Matias Kaila, Tesi
Matias.Kaila@tesi.fi, 040 720 1324

Pia Santavirta, Pääomasijoittajat ry
pia.santavirta@paaomasijoittajat.fi, 040 546 7749

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of renewed economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.3 billion euros. Ambition for ownership and success www.tesi.fi | www.dtg.tesi.fi | @TesiFII

 

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KKR Becomes a Shareholder in Mirastar to Grow European Logistics Platform

KKR

LONDON–(BUSINESS WIRE)–Apr. 23, 2020– KKR, a leading global investment firm, and Mirastar, a specialist developer, investor and manager of industrial and logistics (I&L) assets in Europe, announced that KKR has acquired a strategic stake in Mirastar from M7 Real Estate.

The transaction will further expand KKR’s presence in European I&L real estate. To date, KKR and Mirastar have acquired a 49,000 sqm forward funding project in the Netherlands and aim to continue assembling a high-quality portfolio of assets and development projects in gateway cities across Western Europe. Mirastar will be the primary platform for I&L real estate transactions in Europe.

KKR has a significant recent track record in the I&L real estate market across Europe, having acquired c.800,000 sqm of I&L space over the last 24 months across France, the Netherlands, Italy, Spain, and Ireland. The investment in Mirastar was made through a European real estate fund managed by KKR.

Mirastar was co-founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer, with initial platform backing from M7 Real Estate. The team currently comprises 15 senior real estate professionals and has offices in London, Madrid and Rotterdam.

Guillaume Cassou, Partner and Head of European Real Estate at KKR, commented: “Logistics real estate continues to be an attractive market for KKR, despite the challenges of the current market environment, with strong investment fundamentals and future growth drivers. We look forward to building on our existing relationship with Mirastar to leverage these trends, investing in the continued supply of high-quality assets to meet the growing tenant demand evident across Europe and further building KKR’s footprint in European logistics.”

Ekaterina Avdonina, CEO of Mirastar, commented: “Against the difficult market backdrop prompted by the outbreak of Covid-19, our conviction in the underlying, long-term structural forces behind the growth of logistics real estate remains. Since launching last year, we have demonstrated our ability to execute our strategy and, by extending our strong working relationship with KKR, we look forward to building on that further. We have identified an attractive pipeline and are well placed to act on opportunities in the market.”

Anthony Butler, CIO of Mirastar, commented: “We are grateful to M7 Real Estate for the initial backing and now that our platform is more established we will continue to expand across more geographies with the support of KKR, as both shareholder and primary investor. Due to our combined development and investment expertise along with backing of a world class investor the future looks very exciting as the logistics sector continues to strengthen at a faster pace.”

Richard Croft, Executive Chairman of M7 Real Estate, commented: “Backing new ventures has always been a passion of M7’s and having supported Ekaterina and Anthony with the launch of their business, it is pleasing to see them move into the next phase of growth with KKR. We wish them well on their future journey.”

ENDS

Note to Editors:

About KKR

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

About Mirastar

Mirastar is a specialist pan-European developer, investor and manager of big box logistics co-founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer with initial platform backing from M7 Real Estate. Mirastar has a high-quality portfolio of assets/development projects across the Netherlands with an exit GDV in excess of €100 million and is currently expanding into the UK and Spain. Mirastar comprises a team of 15 senior real estate professionals with over 210 years of total experience and has offices in London, Madrid and Rotterdam.

For additional information please visit Mirastar’s website at www.mirastar.eu

For enquiries:
KKR:
Finsbury
Alastair Elwen
Tel: +44 20 7251 3801
kkr@finsbury.com

Source: KKR

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Industrifonden and Fairpoint Capital invest €5.3 million in DbVis Software

Industriefonden

We’re happy to announce that Industrifonden and Fairpoint Capital have co-led a €5.3 million growth investment in DbVis Software, a Stockholm-based database management and analysis tool for all major databases.

The new capital will be used to expand product development, strengthen the team and further accelerate growth. The company also announces the appointment of Martin Engdahl as its new CEO, to drive the global expansion of DbVis Software.

Launched in 2003, DbVis is a self-financed, global word-of-mouth success, with over 4.5 million downloads of its database software DbVisualizer. DbVisualizer is a universal database management tool that supports connecting to a wide range of data sources over a standardized protocol. The set of tools in DbVisualizer is identical whether using it in Windows, Linux or macOS, and the combination of database independence and cross platform support let users master a single tool to connect and work with all their data sources.

Today’s funding helps DbVis Software to build on the success and enable the company to move to the next level of growth. In addition to the funding, DbVis Software has appointed Martin Engdahl as CEO to lead the company into its next phase. Martin Engdahl was previously a director at Salesforce Sweden.

Rebecka Löthman Rydå, Investment Manager at Industrifonden explained the decision to invest in the company: “DbVis Software has a long track record of delivering an outstanding product within database visualization. The company has effectively implemented a product led growth strategy for many years. We believe the timing is right to further accelerate growth and expand product offering through our investment. We are very excited to partner with the company founder Roger as well as our newly recruited CEO Martin and to embark on this growth journey together.”

DbVisualizer is partly built on open source, with a free edition, as well as a commercial edition. Today the company has over 20 500 paying customers including a mix of Fortune 500 companies, national corporations, academic institutions, startups and independent developers. Facebook, Apple, Netflix are just some of the names on the customer list.

DbVis was founded by Roger Bjärevall, who has a long background in the software industry at both Ericsson and Sun Microsystems, said: “Building a team with Industrifonden, Fairpoint Capital, and the new management will further enhance and strengthen DbVis Software’s go-to-market capabilities and R&D. This is the next logical step to move our product forward and meet the growing demand of our customers.”

A warm and happy welcome to the family DbVis Software.

Learn more about DbVis Software at https://www.dbvis.com/

Di Digital: Doldisbolag tar in riskkapital efter 18 år – har Apple och Netflix som kunder

 

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EQT supports research and testing initiatives in response to COVID-19

eqt

Today, EQT is proud to announce that the EQT Foundation has decided to support its first initiative in response to COVID-19. A donation of EUR 1 million has been made to the COVID-19 Therapeutics Accelerator (launched by the Bill & Melinda Gates Foundation, Wellcome Trust and Mastercard). The initiative is designed to help accelerate the global response to the pandemic by identifying, assessing, developing and scaling up potential COVID-19 treatments. Committed to equitable access, the COVID-19 Therapeutics Accelerator provides fast and flexible funding at all stages, from discovery and development to manufacturing.

In addition, the members of EQT’s management team have decided to make a EUR 1 million donation to the academic laboratories at Science for Life Laboratory and Karolinska Institute in Sweden. The donation is earmarked to further increase the capacity for testing for the COVID-19 virus, primarily within the elderly care system. The donation will be made by various members of the EQT management team as private individuals as a contribution to the caregiving of the elderly and most vulnerable in the country where EQT AB is listed.

Conni Jonsson, Founder and Chairperson at EQT, commented: “By supporting the COVID-19 Therapeutics Accelerator, the EQT Foundation becomes part of a movement of making future solutions accessible to millions of people across the globe. By supporting the Science for Life Laboratory and Karolinska Institute in Sweden in their work to accelerate access to tests, we hope to be able to provide at least some relief in this difficult situation.”

Christian Sinding, CEO and Managing Partner, continued: “We are also tremendously proud to see how the whole EQT organization is mobilizing to support those in need. There are so many local initiatives, big and small, and we encourage our staff to continue supporting relief efforts for COVID-19, both by allocating time and donations, which EQT matches through local fundraising programs. The situation is tough, but it is comforting to see all the dedication, creativity and determination to help both people and societies. These actions further illustrate the EQT mindset of making a positive impact with everything we do.”

The EQT Foundation was founded in June 2019 by a core group of Partners at EQT with the purpose of hosting and driving EQT’s global philanthropic activity, as part of the firm’s efforts to have a positive impact with everything it does. The contribution is aligned with the EQT Foundation’s strategy; to leverage partnerships and support innovative philanthropy that promote a more inclusive tomorrow.

 

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CVC Capital Partners Fund VII agrees to invest in Skroutz

Greece’s leading e-commerce platform which connects 6 million online shoppers with over 4,500 merchants

CVC Capital Partners today announced that CVC Fund VII has agreed to invest in Skroutz, Greece’s leading e-commerce platform, in a partnership transaction with Skroutz’s founders.

Founded in 2005 and headquartered in Athens, Skroutz is the 4th most visited site in Greece after Google, Facebook and YouTube, connecting ~6 million online shoppers with more than 4,500 merchants, offering over 10 million products.

The transaction is subject to customary regulatory approvals. The terms of the transaction are not disclosed.

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DIF Capital Partners invests in Canadian fiber optic networks build out

DIF

DIF Capital Partners, through its DIF Core Infrastructure Fund II (“DIF CIF II”), is pleased to announce that it has completed a majority investment into Valley Fiber Ltd (“Valley Fiber”) to build fiber-to-the-home (“FttH”) and fiber-to-the-business (“FttB”) networks in Manitoba, Canada.

Based in Winkler, Manitoba, Valley Fiber is a telecommunications infrastructure company that specializes in the development, construction and operations of fiber and fixed-wireless infrastructure for residential and commercial use. Valley Fiber has received support from municipal and federal levels of government in Canada. DIF Capital Partners’ investment will allow Valley Fiber to connect more than 15,000 homes and businesses to fiber over the next two years. The transaction contemplates a conservative capital structure which provides additional financial resiliency in the current environment.

Valley Fiber was incorporated in 2016 and has successfully built a presence in Southern Manitoba, constructing high quality telecommunications infrastructure to service the historically underserved communities. Valley Fiber currently operates in more than 20 municipalities in Manitoba. The transaction also includes the acquisition of 40 operating fixed-wireless towers.

“The Valley Fiber team is extremely excited to have found a long-term partner that shares the same values and vision of how to bring the best-in-class fiber and telecommunication infrastructure to the region. With the support from the Canadian government and our financial partner DIF Capital Partners, we look forward to usher in a new generation of economic development and diversity to Southern Manitoba” comments Hank Wall, CEO of Valley Fiber.

The transaction is the first investment for DIF CIF II and underlines the key strategic focus to invest in digital infrastructure. “We are pleased with our long-term investment into the Valley Fiber platform for the roll out of fiber in rural Canada. This is an excellent opportunity for DIF CIF II to invest in a high growth company with a strong management team and to further expand our presence into the fast-growing telecom infrastructure sector” comments Willem Jansonius, Head of DIF CIF.

DIF Capital Partners was advised by Agentis Capital (financial) and Davies Ward Phillips & Vineberg (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.4 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

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

DIF has a team of over 140 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Real Estate Press Release
20 April 2020 at 08.00 EEST

CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Nordic Real Estate I Fund has completed the sale of Skutkrossen in Vinsta, Northwestern Stockholm, to Stenvalvet, a Swedish property company specialising in public properties.

CapMan Nordic Real Estate I Fund purchased the property in 2017. At acquisition, the 12,096 sqm property was leased to ten tenants including the the City of Stockholm’s Education Department as the main tenant. Since acquisition, CapMan has formalized the zoning at the property for longer term school use and expanded the school area as well as extended the duration of the school lease and improved the rental terms.

“We invested in Vinsta as it is a fast-growing suburb with increasing demand from schools and businesses. The area has undergone very positive changes and will benefit further from the opening of the Stockholm Bypass in the coming years with Vinsta being one of the key entry / exit junctions on the bypass. Having completed many value-add activities at the property, we are now pleased to sell to a strong and long-term owner of school properties who we have cooperated with successfully in the past,” comments Per Tängerstad, Partner at CapMan Real Estate.

Skutkrossen is the thirteenth exit of the CapMan Nordic Real Estate I Fund. The focus of the €273 million fund was to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. CapMan is currently raising its third value-add Nordic fund.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan www.capman.com

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012.

 


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