Monthly Archives: May 2020

Swissbit continues its growth with Ardian as a strong partner

Ardian

Together with the management team, Ardian acquires Swissbit, the manufacturer of secure, high-quality storage and embedded Internet of Things (IoT) solutions

Frankfurt am Main / Bronschhofen, May 13th, 2020. The Swissbit management team and Ardian, a world leading private investment house, announced today that they have signed an agreement to acquire Swissbit Holding AG (“Swissbit”) based in Bronschhofen, Switzerland. The company is a leading global manufacturer of storage and embedded IoT solutions with its own production facilities in Germany.

In this transaction, Ardian will acquire a majority stake in Swissbit. Swissbit’s existing management team led by Silvio Muschter, Thomas Luft, Vincenzo Esposito and Matthias Poppel will significantly reinvest in the company as part of the transaction and will hold a substantial stake in the company, thereby ensuring continuity in the management of the business. With the help of Ardian, the positive growth trend will continue to accelerate. The parties have agreed not to disclose financial details of the transaction, which is subject to approval by the antitrust authorities.
Swissbit is the only independent European provider of NAND flash-based storage and embedded IoT solutions for demanding niche applications in a wide range of end markets. The company manufactures high-quality storage media such as SD and microSD cards, SSD hard drives, and USB memory modules for mission-critical applications. The products are manufactured exclusively at Swissbit’s state-of-the-art production facility in Berlin, which commenced operations in October 2019.
Such solutions are used for example in industrial automation applications and network communication technology, as well as in the security sector and in medical technology. Swissbit’s embedded IoT storage solutions are highly relevant especially in the fiscal and security segments.

The company’s storage solutions stand out due to their high degree of customization for specialized storage and computing applications.
Swissbit was created through a management buyout from the Siemens Memory division in 2001. With its innovative strength and extensive research and development capacities, Swissbit is optimally positioned to benefit from the rapidly evolving IoT and edge computing market trends in a wide range of applications.

The company currently has more than 700 customers, including numerous renowned industrial, medical and technology companies. Together with Ardian as a strong global partner, Swissbit intends to continue to accelerate the internationalization of the company in North America and Asia. In addition, management aims to increase the considerable growth potential in the embedded IoT segment, thanks to the variety of new, rapidly growing applications for Swissbit’s specialized storage solutions.

Dirk Wittneben, Managing Director and Head of Ardian Expansion in Germany, said: “The main factors for our investment in the company were Swissbit’s convincing and promising business model combined with an excellent management team with many years of industry experience and strong technological expertise. We look forward to working in partnership with the management and supporting the company as it continues down its path of growth towards a successful future.”

Silvio Muschter, CEO of Swissbit, added: “The digitization and networking of devices in the Internet of Things drives the demand for secure, high-quality storage products from our memory division and the security solutions from our embedded IoT division. Above all, data is the most valuable asset. At Swissbit, we see it as our central task to reliably store and protect this data. For this reason, we have systematically created a new, state-of-the-art electronics production facility in Berlin, set up the Embedded IoT business unit and successfully developed innovative hardware-based security products in recent years. With Ardian, we have found a financially strong and globally connected partner for our further planned growth in new markets.”

ABOUT SWISSBIT

Swissbit AG is the only independent European manufacturer of storage and embedded IoT solutions for demanding applications. Swissbit combines its unique competences in storage and embedded IoT technology with its expertise in advanced packaging to store and protect data reliably in industrial, NetCom, automotive, medical and finance applications as well as across the Internet of Things (IoT). The company develops and manufactures industrial-grade storage and security products “Made in Germany” with long-term availability, high reliability and custom optimization. Swissbit’s storage range includes SSDs with PCIe and SATA interface such as mSATA, Slim SATA, CFast™, M.2 and 2.5” as well as CompactFlash, USB flash drives, SD, micro SD memory cards and managed NAND BGAs. Security products for embedded IoT applications are available in various application specific editions as USB flash drives, SD, and micro SD memory cards. Swissbit was founded in 2001 through a management buy-out of Siemens AG, and has offices in Switzerland, Germany, USA, Japan and Taiwan.
www.swissbit.com

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 680 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

LIST OF PARTICIPANTS

Seller
Swissbit: Roger Knobel, Daniele Tedesco, Silvio Muschter, Vincenzo Esposito, Thomas Luft, Matthias Poppel, Tony Cerreta
Financial: Deloitte (C. Tattersall, M. Horwat)
Legal: Bär & Karrer (C. Neeracher, R. Annasohn)
Tax: Deloitte (F. Poltera, R. Hintermann)
M&A and Debt Advisory: GCA Altium (A. Grünwald, R. Sauser, G. Baldwin, T. Weber, M. Schlup, D. Schreiber)

Buyer
Ardian: Dirk Wittneben, Marc Abadir, Yannic Metzger, Nicolas Münzer, Marlon Sandvoss
Commercial: McKinsey & Company (T. Eichner, H. Bauer, P. Ernst)
Financial: Deloitte (E. Sachsalber, N. Nobereit)
Legal: Latham & Watkins (B. Hesse, S. Pauls) / Niederer Kraft Frey (T. Spillmann, P. Peyer)
Tax: Taxess (G. Thomas, R. Schäfer) / Loyens & Loeff (B. Baumgartner, F. Sutter)
M&A and Debt Advisory: Lincoln International (Ø. Bjordal, C. Weis)

ARDIAN
CHARLES BARKER CORPORATE COMMUNICATIONS
ardian@charlesbarker.de
TOBIAS EBERLE
Tel: +49 69 79409024
JAN P. SEFRIN
Tel: +49 69 7940902
PDF VERSION

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BURE aquires shares in Cavotec

Bure

Bure Equity AB (publ) has acquired 7,803,248 shares in Cavotec SA and thereafter holds 36.2 percent of the capital and the votes in the company.Bure has acquired 7,803,248 shares in Cavotec on 8 May 2020. After the transaction, Bure’s total holding in Cavotec amounts to 34,071,619 shares which is equivalent to 36.2 percent of the total number of shares and votes in the company. Cavotec is listed on Nasdaq Stockholm. The mandatory provisions in accordance with the Act on public takeover bids in the stock market do not apply as Cavotec is a Swiss company.

For more information,

contact Henrik Blomquist, CEOhenrik.blomquist@bure.seTelephone: +46 (0) 8-614 00 20

Max Jonson, CFOmax.jonson@bure.seTelephone +46 (0) 8-614 00 20

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Axonics Modulation Technologies raises $130 million via public offering

GIlde Healthcare

Utrecht (the Netherlands), Cambridge, Massachusetts (USA) – Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), a medical technology company that is commercializing novel implantable rechargeable sacral neuromodulation devices (r-SNM Systems) for the treatment of bladder and bowel dysfunction, announced the pricing of its public offering of 4,000,000 shares of its common stock at a public offering price of $32.50 per share, before underwriting discounts and commissions. The gross proceeds from the offering to Axonics are expected to be $130 million. In addition, the underwriters have a 30-day option to purchase up to an additional 600,000 shares. BofA Securities, Morgan Stanley and Wells Fargo Securities are acting as the joint book-running managers for the offering and representatives of the underwriters. SVB Leerink and Needham & Company are acting as co-managers for the offering.

Axonics anticipates using net proceeds from the offering to support the commercialization of its r-SNM System in the United States, Europe and Canada. Via its r-SNM Systems, Axonics enables improved care at affordable cost for millions of patients worldwide suffering from incontinence, reflecting Gilde Healthcare’s patient centric investment strategy.

About Axonics Modulation Technologies, Inc.
Axonics, based in Irvine, Calif., has developed and is commercializing novel implantable SNM devices for patients with urinary and bowel dysfunction.
For more information, visit the company’s website at www.axonics.com.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market.
For more information, visit the company’s website at www.gildehealthcare.com.

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market.

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Vapotherm raises $87 million via public offering

GIlde Healthcare

Utrecht (the Netherlands), Cambridge, Massachusetts (USA) – Vapotherm, Inc. (NYSE: VAPO), a global medical technology company focused on the commercialization of its proprietary Hi-VNI® Technology products that are used to treat patients of all ages suffering from respiratory distress, announced the pricing of an underwritten public offering of 3,350,000 shares of its common stock at a price to the public of $26.00 per share. The gross proceeds from the offering to Vapotherm are expected to be $87 million. In addition, Vapotherm has granted the underwriters a 30-day option to purchase up to an additional 502,500 shares. BofA Securities and William Blair are acting as joint book-running managers for the offering. Canaccord Genuity is acting as lead manager and BTIG is acting as co-manager.
Vapotherm intends to use the net proceeds from this offering to hire additional sales and marketing personnel and expand marketing programs both in the United States and internationally. Hi-VNI Technology is mask-free noninvasive ventilatory support for spontaneously breathing patients and is a front-line tool for relieving respiratory distress — including COVID-related. Vapotherm enables improved care at affordable cost for millions of patients worldwide suffering from respiratory distress, reflecting Gilde Healthcare’s patient centric investment strategy.

About Vapotherm

Vapotherm, Inc. is a publicly traded developer and manufacturer of advanced respiratory technology based in Exeter, New Hampshire, USA. The Company develops innovative, comfortable, non-invasive technologies for respiratory support of patients with chronic or acute breathing disorders. Over 2.2 million patients have been treated with Vapotherm Hi-VNI Technology. Hi-VNI Technology is mask-free noninvasive ventilatory support for spontaneously breathing patients and is a front-line tool for relieving respiratory distress—including hypercapnia, hypoxemia, and dyspnea. It allows for the fast, safe treatment of undifferentiated respiratory distress with one tool. Hi-VNI Technology’s mask-free interface delivers optimally conditioned breathing gases, making it comfortable for patients and reducing the risks associated with mask therapies. While being treated, patients can talk, eat, drink and take oral medication.
For more information, visit the company’s website at www.vapotherm.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market.
For more information, visit the company’s website at www.gildehealthcare.com.

Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market.

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Eventbrite Announces Financing with Francisco Partners

Franciso Partners

Flexible financing will strengthen the company’s liquidity position and reinforce its long-term growth strategy

SAN FRANCISCO — Eventbrite, Inc. (NYSE: EB), a global self-service ticketing and experience technology platform, today announced the company has secured financing with Francisco Partners of up to $225 million. The investment will help fund the execution of the company’s long-term growth strategy, strengthen its liquidity position and provide greater flexibility to manage through a range of recovery scenarios and the return to live events.

Eventbrite was founded with the vision of enabling event creators to be successful. This vision comes to life through an intuitive and reliable platform. Creators are empowered with the tools and insights to create and manage events, reach new audiences and sell more tickets for both online and in-person experiences. Eventbrite is a powerful and dynamic platform for bringing people together and serves a community of nearly one million creators who transacted more than 309 million tickets to approximately 4.7 million events last year alone.

“The world has changed amidst the COVID-19 global pandemic, and the live experience industry must adapt in response to the new normal,” said Julia Hartz, Eventbrite CEO and co-founder. “This moment in time is marked by the resilience and ingenuity of the event creators and ticket buyers we serve. Our sole focus is supporting our professional customers, many of whom are small businesses. The flexible financing from Francisco Partners will help us fund our growth strategy and emerge from this crisis as a market leader. Together, we will move through this turbulent time to bring people together for live experiences once again.”

The financing from Francisco Partners will give Eventbrite flexibility to manage through the effects of COVID-19 by tailoring its capital needs to the changing environment, while also reinvesting in its leading self-service platform.

“The founders and team at Eventbrite have built one of the most technologically advanced digital ticketing and experiences platforms in the world,” commented Peter Christodoulo, Partner at Francisco Partners. “We are thrilled to partner with them as they reaccelerate their growth strategy and further their commitment to event creators as a leading provider in the sector.”

Eventbrite was advised by Morgan Stanley & Co. LLC and Allen & Company LLC as its financial advisors, and Latham & Watkins LLP as its legal advisor. Francisco Partners was advised by Jefferies LLC as its financial advisor and Akin Gump Strauss Hauer & Feld LLP and Kirkland & Ellis LLP as its legal advisors.

About Eventbrite

Eventbrite is a global self-service ticketing and experience technology platform that serves a community of nearly one million event creators in over 180 countries. Since inception, Eventbrite has been at the center of the experience economy, transforming the way people organize and attend events. The company was founded by Julia Hartz, Kevin Hartz and Renaud Visage, with a vision to build a self-service platform that would make it possible for anyone to create and sell tickets to live experiences. The Eventbrite platform provides an intuitive, secure, and reliable service that enables creators to plan and execute their live and online events, whether it’s an annual culinary festival attracting thousands of foodies, a professional webinar, a weekly yoga workshop or a youth dance class. With over 300 million tickets distributed to more than 4 million experiences in 2019, Eventbrite is where people all over the world discover new things to do or new ways to do more of what they love. Learn more at www.eventbrite.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised approximately $24 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements, including but not limited to statements regarding the company’s liquidation position and plans to execute its long-term growth strategy and investment plans. These forward-looking statements reflect the company’s views regarding current expectations and projections about future events and conditions and are based on currently available information. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict, including risks related to the COVID-19 pandemic and resulting worldwide cancellation of live events, which had been the cornerstone of the company’s business, and related uncertainty regarding the duration of the shutdown of live events and the possibility that future shutdowns will occur, whether as a result of the COVID-19 pandemic, other public health concerns or epidemics or other factors adversely affecting the live event market, the company’s ability to achieve the expected operating expense savings from its global workforce reduction, and the Risk Factors identified in the company’s most recently filed annual report on Form 10-K; therefore, the company’s actual results could differ materially from those expressed, implied or forecast in any such forward-looking statements. Expressions of future goals and expectations and similar expressions, including “may,” “will,” “should,” “could,” “aims,” “seeks,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “predicts,” “potential,” “targets,” and “continue,” reflecting something other than historical fact are intended to identify forward-looking statements. Unless required by law, the company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, readers should carefully review the reports and documents the company files or furnishes from time to time with the Securities and Exchange Commission, particularly its annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K.

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Altor enters partnership with the entrepreneurs of Eleda

Altor

ltor Fund V (“Altor”) has signed definitive agreements to invest in a majority stake in Eleda Infra Services Group (“Eleda”) to support the entrepreneurs and management on the continued growth journey to create a leading infrastructure services group. As part of the transaction, Eleda acquires and partners with the entrepreneurs of Järfälla VA- & Byggentreprenad AB (“JVAB”). In addition, Eleda acquires ONE Nordic (“ONE”) from Altor Fund III. Management of the respective companies will remain as significant shareholders of the combined group and continue in their respective operational management roles.

The new, larger, Eleda will be an expansive infrastructure services group focusing on small to medium sized civil engineering and transmission infrastructure projects and services across a wide range of sectors including water works, road works, energy works and data centers. JVAB strengthens Eleda’s geographical coverage in the Stockholm area and has strong expertise in water works. One Nordic broadens Eleda’s capabilities into electricity transmission infrastructure services and projects focusing on electricity distribution and renewable energy (wind and hydro power). The companies have an impressive history of strong growth and a proven ability to gain additional market shares in fast-growing areas of the market. The new Eleda group had a combined turnover of ca SEK 6 billion in 2019.

“We are enthusiastic and confident that Altor’s experience of building great companies will contribute to our continued strong growth and further support our ambition to always be the partner of choice for both public and private customers within infrastructure services. The timing of this transaction in the current market turmoil is a testament to our attractive and resilient business model, and we are proud to remain as significant shareholders in the combined group”, say Johan Halvardsson and Peter Condrup, representing the management consortium in Eleda.

“ONE Nordic is stronger than ever today”, says Jonas Arvidsson, CEO of ONE Nordic. “During Altor’s ownership period, ONE Nordic has had the opportunity to expand from electricity distribution into services and projects in renewable energy, and we now look forward to a continued growth journey as part of the larger Eleda group, with whom we already have several overlapping clients and hope to expand that further”.

“We are impressed with the businesses that the entrepreneurs have built and are truly excited to partner with them for the next phase of development. It is particularly exciting to be able to contribute ONE into the combination, adding new capabilities that will result in commercial benefits for both companies. We are highly committed to extend the strong track record of the companies to date and continue to build a leading infrastructure services company in the Nordics” says Bengt Maunsbach, Partner at Altor.

“In Eleda, I see a successful entrepreneurial, decentralized organization with local decision-making and responsibility, but with the resources and methods of a large corporation”, says Torbjörn Torell, current Chairman of ONE Nordic and incoming Chairman of Eleda. “I am glad for the opportunity to continue to work alongside Altor and look forward to working with the exceptional entrepreneurs of Eleda.”

The transaction is subject to customary regulatory approvals.

For more information, please contact:
Johan Halvardsson, Eleda Group CEO, +46 70 545 95 01
Emilie Condrup Maisor, Head of Communications and ESG, Eleda, +46 70 828 04 66
Jonas Arvidsson, CEO of ONE Nordic, +46 70 304 09 70
Bengt Maunsbach, Partner at Altor, +46 867 89 115
Tor Krusell, Head of Communications at Altor, +46 705 43 87 47

About Eleda Infra Services Group
Eleda Infra Services Group is an expansive group focusing small to medium sized civil engineering and transmission infrastructure projects and services across a wide range of sectors including water works, road works, energy works and data centers. The Group operates through regional companies across southern and western Sweden. The group currently includes Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggningstjänster. Eleda Group’s corporate culture is marked by a strong entrepreneurial spirit, and the companies work independently in complementary geographical areas with the goal of being a leading player in their respective regional markets. Eleda Group, which has its headquarters in Stockholm, has around 800 employees and sales of approximately SEK 3.1 billion in 2019. Eleda Group is currently owned by management and a broad group of key individuals in the group. For further information please visit www.eleda.se/en

About ONE Nordic
ONE Nordic is one of Sweden’s leading suppliers of technical services in electricity transmission infrastructure and renewable energy production. With a nationwide organization and local knowledge, ONE Nordic delivers high quality services and solutions to energy producers, distributors and energy users. ONE Nordic is headquartered in Malmö and has around 1,000 employees and sales of approximately SEK 2.1 billion in 2019. ONE Nordic has been owned by Altor Fund III since 2011. For further information please visit www.one-nordic.se

About JVAB
Järfälla VA- & Byggentreprenad AB is focusing on civil engineering and transmission infrastructure in the Stockholm region. JVAB has around 150 employees and sales of approximately SEK 0.7 billion in 2019. The majority of JVAB is owned by the founding family, who will reinvest a significant portion in the combined Group. For further information please visit www.jvab.se

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Piab, Aalborg Industries, Trioplast, SATS and RevolutionRace. For further information please visit www.altor.com

Author: Katarina Karlsson
Date: 2020.05.11
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Altor enters partnership with the entrepreneurs of Eleda

Altor

Posted 

Altor Fund V (“Altor”) has signed definitive agreements to invest in a majority stake in Eleda Infra Services Group (“Eleda”) to support the entrepreneurs and management on the continued growth journey to create a leading infrastructure services group. As part of the transaction, Eleda acquires and partners with the entrepreneurs of Järfälla VA- & Byggentreprenad AB (“JVAB”). In addition, Eleda acquires ONE Nordic (“ONE”) from Altor Fund III. Management of the respective companies will remain as significant shareholders of the combined group and continue in their respective operational management roles.

The new, larger, Eleda will be an expansive infrastructure services group focusing on small to medium sized civil engineering and transmission infrastructure projects and services across a wide range of sectors including water works, road works, energy works and data centers. JVAB strengthens Eleda’s geographical coverage in the Stockholm area and has strong expertise in water works. One Nordic broadens Eleda’s capabilities into electricity transmission infrastructure services and projects focusing on electricity distribution and renewable energy (wind and hydro power). The companies have an impressive history of strong growth and a proven ability to gain additional market shares in fast-growing areas of the market. The new Eleda group had a combined turnover of ca SEK 6 billion in 2019.

“We are enthusiastic and confident that Altor’s experience of building great companies will contribute to our continued strong growth and further support our ambition to always be the partner of choice for both public and private customers within infrastructure services. The timing of this transaction in the current market turmoil is a testament to our attractive and resilient business model, and we are proud to remain as significant shareholders in the combined group”, say Johan Halvardsson and Peter Condrup, representing the management consortium in Eleda.
“ONE Nordic is stronger than ever today”, says Jonas Arvidsson, CEO of ONE Nordic. “During Altor’s ownership period, ONE Nordic has had the opportunity to expand from electricity distribution into services and projects in renewable energy, and we now look forward to a continued growth journey as part of the larger Eleda group, with whom we already have several overlapping clients and hope to expand that further”.

“We are impressed with the businesses that the entrepreneurs have built and are truly excited to partner with them for the next phase of development. It is particularly exciting to be able to contribute ONE into the combination, adding new capabilities that will result in commercial benefits for both companies. We are highly committed to extend the strong track record of the companies to date and continue to build a leading infrastructure services company in the Nordics” says Bengt Maunsbach, Partner at Altor.

“In Eleda, I see a successful entrepreneurial, decentralized organization with local decision-making and responsibility, but with the resources and methods of a large corporation”, says Torbjörn Torell, current Chairman of ONE Nordic and incoming Chairman of Eleda. “I am glad for the opportunity to continue to work alongside Altor and look forward to working with the exceptional entrepreneurs of Eleda.”

The transaction is subject to customary regulatory approvals.

For more information, please contact:
Johan Halvardsson, Eleda Group CEO, +46 70 545 95 01
Emilie Condrup Maisor, Head of Communications and ESG, Eleda, +46 70 828 04 66
Jonas Arvidsson, CEO of ONE Nordic, +46 70 304 09 70
Bengt Maunsbach, Partner at Altor, +46 867 89 115
Tor Krusell, Head of Communications at Altor, +46 705 43 87 47

About Eleda Infra Services Group
Eleda Infra Services Group is an expansive group focusing small to medium sized civil engineering and transmission infrastructure projects and services across a wide range of sectors including water works, road works, energy works and data centers. The Group operates through regional companies across southern and western Sweden. The group currently includes Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggningstjänster. Eleda Group’s corporate culture is marked by a strong entrepreneurial spirit, and the companies work independently in complementary geographical areas with the goal of being a leading player in their respective regional markets. Eleda Group, which has its headquarters in Stockholm, has around 800 employees and sales of approximately SEK 3.1 billion in 2019. Eleda Group is currently owned by management and a broad group of key individuals in the group. For further information please visit www.eleda.se/en

About ONE Nordic
ONE Nordic is one of Sweden’s leading suppliers of technical services in electricity transmission infrastructure and renewable energy production. With a nationwide organization and local knowledge, ONE Nordic delivers high quality services and solutions to energy producers, distributors and energy users. ONE Nordic is headquartered in Malmö and has around 1,000 employees and sales of approximately SEK 2.1 billion in 2019. ONE Nordic has been owned by Altor Fund III since 2011. For further information please visit www.one-nordic.se

About JVAB
Järfälla VA- & Byggentreprenad AB is focusing on civil engineering and transmission infrastructure in the Stockholm region. JVAB has around 150 employees and sales of approximately SEK 0.7 billion in 2019. The majority of JVAB is owned by the founding family, who will reinvest a significant portion in the combined Group.  For further information please visit www.jvab.se

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Piab, Aalborg Industries, Trioplast, SATS and RevolutionRace.  For further information please visit www.altor.com

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Cilia Holmes Indahl appointed Head of EQT Foundation

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eqt

The EQT Foundation today announced the appointment of Cilia Holmes Indahl, currently CEO of Katapult Group, as Head of the EQT Foundation, effective August 2020. In her new role, Cilia will be responsible for developing and executing on the Foundation’s strategic agenda.

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 activities, and furthering the firm’s ambitions of making a positive impact with everything it does. The EQT Foundation aligns its activities with EQT’s vision of being the most reputable investor and owner. It has a mission of creating a more inclusive tomorrow and pushing the frontiers of societal impact as well as ensuring the successful long-term development of EQT and maintaining EQT’s strong corporate culture and values. The EQT Foundation also has a right to appoint a member to the nomination committee of EQT AB according to the principles for appointing a nomination committee.

Cilia’s experience from her previous role as Sustainability Director of Aker BioMarine and from the Norwegian Permanent Mission to the United Nations, where she negotiated the Sustainable Development Goals, matches perfectly with the EQT Foundation’s mission. Cilia has a genuine passion for driving long-lasting positive change and engaging others in making a difference.

Conni Jonsson, Chairperson of the EQT Foundation, said: “We are very happy that Cilia is joining the EQT Foundation. Our ambition is that the work and efforts we pursue through the EQT Foundation will inspire others to contribute to positive long-term change and, with Cilia onboard, we are confident that we will be able to drive our positive impact agenda further and become a change catalyst in the industry.”

Christian Sinding, CEO and Managing Partner at EQT, continued: “The EQT Foundation shares the same objective as EQT, to make a positive impact with everything we do, and Cilia’s energy, engagement and experience fit this in an exceptional manner. We want every investment EQT makes to contribute to a better and cleaner tomorrow, and we see the EQT Foundation as an important pillar in achieving this.”

Cilia Holmes Indahl commented: “For me, driving the EQT Foundation is a dream job! With EQT’s culture, values and impressive portfolio of great companies, there are so many opportunities to push the sustainability agenda forward. I look forward to exploring new ways of accelerating industry transformations, leveraging the thematic expertise from the entire EQT system and driving positive impact in close collaboration with all EQT colleagues.”

In April, the EQT Foundation announced its first donation of EUR 1 million to the COVID-19 Therapeutics Accelerator (launched by the Bill & Melinda Gates Foundation, Wellcome Trust and Mastercard) as a response to the global COVID-19 pandemic. Further information about the EQT Foundation’s strategy, focus areas and initiatives will be communicated once Cilia has assumed her role.

Contact
Nina Nornholm, Head of Communications, +46 708 550 356
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About the EQT Foundation
EQT Foundation was founded in June 2019 by a company owned by a core group of Partners at EQT. It holds around one percent of the shares in EQT AB and will be a long-term shareholder. EQT Foundation is structurally independent from EQT. The purpose of EQT Foundation is to use the proceeds generated from the dividends it receives from EQT AB shares, as well as other assets and donations, for the furtherance of the mission of creating a more inclusive tomorrow and pushing the frontiers of societal impact. EQT Foundation is a foundation under Swedish law (Sw. stiftelse). 

Categories: People

CapMan Real Estate sells office property in Stockholm to Fabege

CapMan Real Estate
Press Release
8 May 2020 at 12.00 p.m. EEST

CapMan Real Estate sells office property in Stockholm to Fabege

CapMan Nordic Real Estate II Fund has signed a sale agreement with Fabege regarding Påsen 1, an approx. 10,000 sqm multi-let office building in Hammarby Sjöstad. The agreed property value is SEK 441.4 million.

“We purchased this property in March 2018 and were very much drawn towards the value-add opportunities we saw at that time. Hammarby Sjöstad and its surrounding area in southern Stockholm has experienced rapid development and growth in the past few years and we have seen rental values rise significantly as a result. We are pleased to capitalise the value we have created to date and also to sell to Fabege who is a long-term owner and developer in the area,” comments Per Tängerstad, Partner at CapMan Real Estate.

Påsen 1 is the second exit of the CapMan Nordic Real Estate II Fund. The focus of the €425 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.

Nordanö and Mannheimer Swartling assisted CapMan on the sale.

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 approx. 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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The Carlyle Group Enters into Binding Agreements to Acquire a Majority Stake in SeQuent Scientific Limited

Carlyle

Mumbai, May 8, 2020 – Global investment firm The Carlyle Group (NASDAQ: CG) and the existing promoters of SeQuent Scientific Limited (BSE-512529; NSE: SEQUENT) today announced that CA Harbor Investments, an affiliated entity of CAP V Mauritius Limited and The Carlyle Group (together, “Carlyle”), has agreed to acquire an equity stake of up to 74% in SeQuent Scientific Limited (“SeQuent”), the largest pure-play animal healthcare company in India.

CA Harbor Investments proposes to acquire a majority stake in SeQuent via private share purchase agreements, for a purchase price of INR 86 per share. Pursuant to the Securities and Exchange Board of India (SEBI)’s Takeover Regulations, the proposed transaction will trigger a mandatory open offer by CA Harbor Investments and CAP V Mauritius Limited for the purchase of up to 26% equity shares of SeQuent from public shareholders to be identified in the open offer documents[1]. The transaction is expected to close in the third quarter of 2020, subject to customary closing conditions and regulatory approvals. Following the completion of this transaction, CA Harbor Investments will become the new promoter of SeQuent.

Headquartered in Mumbai, SeQuent is the largest Indian pure-play animal healthcare company with global operations. SeQuent provides animal health Active Pharmaceutical Ingredients (“API”), formulations, and analytical services in over 100 countries, with more than 1,700 employees and manufacturing operations in India, Spain, Turkey, Germany and Brazil.

Arun Kumar, on behalf of the current promoter group of SeQuent, said, “We are pleased to have achieved this strategic outcome for SeQuent and its investors through this divestment. Our investment in this niche sector of the industry has played out as intended thanks to the leadership of Manish Gupta, his leadership team and employees, who have collectively created this world-class Indian animal health company. We are confident that Carlyle’s global network and resources will be a catalyst for SeQuent’s next stage of growth and innovation. We thank the Board of Directors, our employees, investors, banks and other stakeholders for their support in building SeQuent to what it is today and wish the SeQuent team the very best.”

Neeraj Bharadwaj, Managing Director of the Carlyle Asia Partners team, said, “SeQuent is led by an experienced management team, and has built strong API and formulation businesses that are poised for continued growth in the evolving animal health industry. We will draw on our global network, industry knowledge and operating expertise in healthcare to advise SeQuent on its business expansion strategy, enhance its operations, and help the company drive sales and product innovation.”

“We see strong growth potential in the global animal health industry, including the livestock segment where SeQuent is operating, thanks to increasing demand for animal protein, rising awareness of food safety, and growing disposable income,” he added.

Manish Gupta, CEO of SeQuent, said, “SeQuent emerged as India’s leading animal healthcare company within six years, completing phase one of SeQuent’s growth journey. On behalf of the entire management team, I would like to thank Mr. Arun Kumar for his vision and support in building a global animal healthcare company. We look forward to a new phase of development, where we together with Carlyle will work to grow the company into one of the top global animal healthcare companies.”

The Carlyle Group has a well-established history of investing in the healthcare sector, both in India and globally, fueled by a deep understanding of the market and an ability to create value through its operational expertise and close partnerships with management. Its investments in the Indian healthcare sector include Medanta Medicity Hospital, a leading hospital in the National Capital Region of Delhi, and Metropolis Healthcare, which operates a chain of diagnostic centers and laboratories.

The Carlyle Group is a long-standing global investment firm in India, making investments in India since 2000. With global resources, deep industry expertise and strong local knowledge, Carlyle has invested more than US$2.5 billion in India as of March 31, 2020. Its other notable investments include SBI Life, SBI Card, HDFC, India Infoline, Delhivery and PNB Housing Finance.

J.P. Morgan acted as exclusive financial advisor while Nishith Desai Associates acted as legal advisor to SeQuent and its promoters.

Nomura acted as exclusive financial advisor while AZB & Partners and White & Case acted as legal counsels to CA Harbor Investments and Carlyle. Nomura will be acting as the manager to the public tender offer.

* * *

About SeQuent Scientific Limited

SeQuent Scientific Limited (BSE-512529, NSE-SEQUENT) headquartered in Mumbai, India with a global footprint, operates in the domains of Animal Health (Alivira) and Analytical Services. SeQuent has eight manufacturing facilities based in India, Spain, Germany, Brazil and Turkey with approvals from global regulatory bodies, including USFDA, EUGMP, WHO, TGA among others. Its Vizag facility is India’s first and only USFDA approved facility for veterinary APIs. SeQuent is listed on the National Stock Exchange (NSE: SEQUENT) and BSE Limited (BSE: 512529) in India.

 

SeQuent’s revenue for the twelve months ended December 2019 was INR 11,606 million and profit after tax (before minority interest) for the same period was INR 851 million. The company was recently named “The Best Company in India/Middle East/Africa” at the Animal Pharm Awards 2019.

 

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $217 billion of assets under management as of March 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

 

Media Contacts:

SeQuent
Tushar Mistry
Chief Financial Officer
Tel: +91 22 4111 4717
tushar.m@sequent.in

Diwakar Pingle
Christensen Investor Relations
Tel : +91 22 4215 0210
dpingle@christensenir.com

Abhishek Singhal
Investor Relations Consultants
abhishek.s@sequent.in

Carlyle

Tammy Li
Phone: +852 2878 5236
tammy.li@carlyle.com

Adfactors PR
Manibalan Manoharan
Phone: +91 9833949919
manibalan.manoharan@adfactorspr.com

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. SeQuent Scientific Ltd. and The Carlyle Group will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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