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IK Partners to sell Bahr Modultechnik to IMI

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap II Fund (“IK SC II”) has reached an agreement to sell its stake in Bahr Modultechnik (“Bahr” or “the Company”) to IMI plc (“IMI”).

Bahr is a leading manufacturer of modular positioning systems, used in a wide range of process automation applications.

Founded in 1990 by the brothers Frank and Dirk Bahr in Luhden, Germany, the Company focuses on delivering individual solutions based on a sophisticated portfolio of customisable and technologically leading products. Accurate and robust positioning systems are required in a wide variety of high-growth markets in relation to automation, including pharma production, packaging and labelling, as well as warehouses, factories and other specialised applications. The Company has approximately 80 employees and its unique linear positioning systems are sold in more than 24 countries around the globe.

IK invested in Bahr in May 2018 and, since then, the Company has focused on organic top-line growth, strengthening its sales capabilities and team. A modern CRM system was rolled out to support this and provides full transparency of sales performance. In addition, the Company reinforced its commercial leadership by developing a strategic approach to sales through the optimisation of reporting structures and processes, together with clear roles and responsibilities of team members defined. With further product developments targeted at niche applications, Bahr is well placed to continue its accelerated growth path.

Dirk Bahr, Founder and Co-CEO of Bahr, commented: “We are delighted to have enjoyed a successful partnership with IK, which has seen Bahr grow significantly in a short space of time. Having strengthened our sales team and developed our digital marketing capabilities, we look forward to entering the next phase of growth with IMI by our side.”

Cihan Halavurt, Co-CEO of Bahr, added: “Over the past few years, IK has introduced added-value initiatives to the Company through the optimisation of several key processes, specifically with regards to sales and marketing. With their help, we have professionalised our go-to-market approach and are now equipped with the right tools and data that allow us to continue growing in both a profitable and sustainable way. With IMI, we have found the ideal partner and can leverage both companies’ products and customer networks at a global scale with immediate effect.”

Nils Pohlmann, Partner at IK and Advisor to the IK SC II Fund, added: “It has been a pleasure working with the team at Bahr for the past four years. The business has a very sophisticated product portfolio and we are proud to have supported the Company on their journey of becoming a more robust, customer-centric organisation, especially with regards to the bolstering of their salesforce and related capabilities. We wish them well as they continue with a new partner.”

Roy Twite, CEO at IMI, said: “We are truly impressed with Bahr’s leadership and its record of consistent growth. Their unique modular system, coupled with their customer-centric approach and ability to engineer application-specific solutions, aligns nicely with our own business model. We are therefore excited for Dirk, Cihan and the team to join us. Together we will be able to offer customers across the world solutions to their automation requirements.”

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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Trustly, backed by Nordic Capital, acquires Ecospend, further strengthening position in the UK

Nordic Capital

Trustly, the leading global payments platform for digital Account-to-Account transactions (“A2A”) today announces the acquisition of the UK-based Open Banking Payments platform Ecospend. Ecospend’s strong UK A2A product and full bank connectivity will complement and enable Trustly to deliver a market-leading product in the UK, and further accelerate its UK roll-out  – one of Europe’s most rapidly growing A2A regions and a core growth market for Trustly.

Four years after PSD2 made Open Banking a regulatory requirement in the UK, the market presents a dynamic ecosystem, with rapidly accelerating consumer adoption, and strong transaction volume growth. As previously announced, the UK is one of Trustly’s core growth markets. Having set an ambitious target to be the game-changing market leader in the UK, the acquisition of Ecospend now accelerates Trustly’s journey towards that target.

Trustly, backed by Nordic Capital, acquires Ecospend, further strengthening position in the UK Image

Ecospend, founded in 2017, is a FCA UK regulated A2A payments provider powering the next generation of open banking based payments and financial data services. Ecospend serves clients in a range of industries, including Public Sector where the company has a key contract with the tax authority of the UK government, HMRC, which went live in March 2021. In the past year, Ecospend has processed over £5bn in A2A payments to over 2 million consumers. Ecospend’s strong UK Payment Initiation and Account Information Services (PIS & AIS), as well as connectivity with 80+ UK banks makes it a strong fit with Trustly’s collection capabilities and wider European footprint.

Johan Tjärnberg, Group CEO of Trustly, comments: “I am delighted to welcome Ecospend to Trustly. This is a perfect strategic fit and I am convinced that it will enable us to deliver a market-leading product in the UK, allowing us to capture opportunities and accelerate our current UK expansion.”

Metin Erkman, Founder of Ecospend: “Together with Trustly we will be able to further accelerate our expansion in the UK and continue to raise the bar for service excellence to our customers. We will continue to leverage our market-leading technology and bank connectivity in the UK and, together with Trustly, broaden our capabilities to stretch across Europe and further markets. We are really excited to join the Trustly family.”

The transaction is subject to customary regulatory approvals. The parties, Trustly AB and Ecospend Technologies Ltd, have agreed to not disclose any financial details.

For more information, please contact:

Charlotte Eriksson
Head of Strategic Transformation and Head of Corporate Communications at Trustly
+46 (0)76 115 32 10, charlotte.eriksson@trustly.com

About Trustly

Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2021 we processed over $28 billion in transaction volume in our global network. We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.

About Ecospend

Founded in 2017, Ecospend is an Open Finance Technology platform. In 2021 Ecospend won one of the largest ever Open Banking contracts, with HMRC. In the past year Ecospend has processed over £5bn in transaction volume from its client portfolio which, in addition to the UK Government, includes several blue chip private sector clients such as ITV, Toolstation, Anglian Water and London Mutual Credit Union. Ecospend operates under the supervision of the UK FCA. Read more at www.ecospend.com

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Dutch Quadrum Capital invests in LensOnline’s vision for the future

Quadrum Capital

Kruibeke/Woerden, May 25th, 2022 – LensOnline, the largest online supplier of contact lenses in the Benelux, and Dutch investment company Quadrum Capital are joining forces to support LensOnline’s further growth on the European market and to invest in a wider range of total solutions for eye care.

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Quadrum Capital – LensOnline

In recent years LensOnline has experienced strong growth in Belgium and the Netherlands, but still sees more opportunities. Bert Boon, CEO and founder of LensOnline: “The demand from the market is more towards offering a total approach. The hybrid model in which we call in the expertise of independent opticians meets that demand, but the challenges and opportunities in the longer term are greater.” With the cooperation with Quadrum Capital, LensOnline hopes to fulfil its plans for further European expansion, further focus on e-commerce and next steps in eye care.

“Just that hybrid model is what we at Quadrum Capital want to support and build on,” says Hedzer Wester, Investment Manager at Quadrum. “The e-commerce experience within LensOnline and its broad network of partner opticians, are complementary to our current investments.” Quadrum Capital and LensOnline are mainly looking at expanding the partner network and services around eye care. Wester outlines the long-term goal: “By combining a network of eye experts with a broad partner network, we reach consumers who often have difficulty finding that total vision solution.”

In the short term, LensOnline will focus mainly on geographical expansion, with further growth in the Netherlands and the full roll-out of the concept in Italy at the top of the agenda. Together with Quadrum Capital, LensOnline wants to realise this growth by taking its current marketing activities to an even higher level. In addition, the possibilities of entering the German market will be investigated.

Boon: “With Quadrum Capital we have a partner who on one hand believes in our plans to offer more complementary services around eye care, but on the other hand is also willing to take those plans to a European level. Quadrum Capital’s know-how and network are invaluable in that respect.”

With Bert Boon as founder and CEO, the current management is anchored in the shareholder structure and day-to-day succession is assured. “In order to realise growth and move faster in the future, it is important for LensOnline that the current management remains on board,” continues Boon.

About LensOnline LensOnline®, founded in 2004, is one of the largest online suppliers of contact lenses. LensOnline operates in Belgium, the Netherlands and Italy where it works with a large network of more than 250 independent partner opticians who assist consumers in purchasing contact lenses, liquids and care products.

About Quadrum Capital Independent investment company Quadrum Capital helps companies in the mid-market segment to achieve their growth ambitions in a responsible way. Entrepreneurship, strong commitment and the contribution of high-quality management experience, network and financial strength form the basis for this. Quadrum Capital has offices in Woerden and Almelo and is characterized by a strong regional presence, a sharp vision and a no-nonsense mentality.

Since its foundation in 2012 Quadrum Capital has built a broad portfolio of participations in various sectors. Healthcare and IT are among Quadrum Capital’s focus sectors and LensOnline’s activities are a perfect match. The participation in LensOnline will take place from the recently founded Quadrum Investment Fund IV. This fund is mainly financed by entrepreneurs and entrepreneurial families and has a clear (international) growth ambition.

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Pantheon appoints Eimear Palmer as Partner and Global Head of ESG

Appointment enhances Pantheon’s track record of ESG leadership in private markets
 Eimear brings deep and specialized experience from 14 years in private equity-focused ESG roles
 New position sits within Pantheon’s investment function and includes leadership of the firm’s established, cross-functional ESG Committee

Pantheon, a leading global private markets investor, is delighted to announce the appointment of Eimear Palmer as Partner and Global Head of ESG. In this new role, which sits within Pantheon’s investment function, Eimear will oversee and further develop the firm’s established ESG strategy and range of initiatives, reflecting our ongoing commitment to integrating ESG principles throughout our business and enhancing our track record of leadership in private markets on a topic that is of growing importance to investors.

Recognized for her expertise in responsible investment and engagement with key stakeholders, Eimear is a founder of the UK network of Initiative Climat International, an investor-led platform focused on climate action among leading global private market organizations, of which Pantheon is a signatory. She brings 14 years of experience in private equity-focused ESG, including through her most recent role as Managing Director and Head of Responsible Investment at Intermediate Capital Group (ICG). Eimear previously worked at the Carlyle Group, where she implemented an enhanced ESG framework for Carlyle Europe Partners.
At Pantheon, Eimear will lead our cross-functional ESG Committee, which is charged with coordinating our broader approach to ESG, both within the firm and across our investment processes, as well as in our engagement with our clients, the industry and our wider communities. She will join the firm in London in August and report to Investment Partner Alex Scott, who, alongside Hong Kong-based Investment Partner Jie Gong, has played a key role in developing Pantheon’s ESG efforts as Co-Head of our ESG Committee.
“Pantheon has long been an innovator in responsible investment practices and, with Eimear’s leadership as Global Head of ESG, we look forward to enhancing the capabilities we offer our clients and our role in the development of best practices across our industry,” said Alex Scott.

Pantheon has been at the forefront of efforts to shape a more sustainable global financial system since 2007, when it became only the second global private equity firm to sign on to the United Nations-backed Principles for Responsible Investment (PRI). More recently we have developed a climate risk mapping tool across our infrastructure investment programs in partnership with specialist consultancy ERM, which is helping us to produce reporting to clients in line with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), of which we are a signatory.

“We recognize the importance of strong ESG practices to delivering on the long-term objectives of our investors,” said Paul Ward, Managing Partner at Pantheon. “I look forward to welcoming Eimear to Pantheon, where her formidable experience will help us build on our track record of ESG leadership and support the continued evolution of our policies, practices and range of industry partnerships.”
***Ends

Notes to Editors
For further information, please contact:
Ashley Wassall, Head of Client Communications
Tel: +44 20 3356 1763 | C: +44 7776 778 620 | Email: ashley.wassall@pantheon.com

About Pantheon
Pantheon Group* (“Pantheon”) is a leading global private markets firm currently investing on behalf of approximately 865 investors, including public and private pension plans, insurance companies, endowments and foundations. Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.

As of December 31, 2021 Pantheon had $84.6 billion assets under management and advice and the firm currently has more than 400 employees located across its offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul**, Bogotá**, Tokyo, Dublin and Berlin. Its global workforce includes more than 115 investment professionals.

Pantheon is majority-owned by Affiliated Managers Group Inc. (“AMG”), alongside senior members of the Pantheon team. AMG is a NYSE-listed global asset management company with equity investments in leading boutique investment management firms. The ownership structure, with Pantheon management owning a meaningful share of the equity in the business, provides a framework for long-term succession and enables Pantheon management to continue to direct the firm’s day-to-day operations.
* Pantheon Group refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo and Dublin. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the U.S. Securities and Exchange Commission (“SEC”); Pantheon

Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB).
** Please note that the Bogotá office is a representative office of Pantheon Ventures (US) LP (“PV US”), and that a Korean subsidiary of PV US has opened the office in Seoul.
This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2022

Categories: People

Carlyle to Acquire Leading Global Cosmetics Packaging Company HCP from BPEA

Carlyle

Shanghai, China, May 26, 2022 – Global investment firm, Carlyle (NASDAQ: CG) today announced it has agreed to acquire a 100% stake in HCP Packaging (“HCP”), a global leader in the design, development and manufacture of cosmetic packaging, from funds affiliated with Baring Private Equity Asia (“BPEA”). Equity for this transaction will come from affiliates of Carlyle Asia Partners and Carlyle Japan Partners – two of Carlyle’s buyout funds in Asia. Terms of the transaction were not disclosed.

Founded in 1960 and headquartered in Shanghai, HCP is currently one of the world’s largest beauty packaging providers with 10 state-of-the-art production and manufacturing facilities across China, the USA, Mexico and Europe. The company has produced many innovative award-winning packaging designs and is dedicated to researching and investing in sustainable packaging solutions for the beauty industry. It works with over 250 leading cosmetics, skincare and fragrance brands including Estée Lauder, L’Oreal and Shiseido.

Carlyle will leverage its deep sector experience in the consumer and manufacturing industries to support HCP as it continues to scale its operations and grow its customer base globally. Carlyle will also work with HCP to help explore global strategic acquisitions, further strengthen the company’s leading R&D capabilities, and facilitate business synergies and alliances for HCP with its global network of portfolio companies in the cosmetics, consumer and manufacturing industries.

During BPEA’s ownership, HCP has experienced transformative growth. With BPEA’s support, HCP has become an even stronger primary packaging supplier for both color cosmetics and skincare products with expanded product technology as well as geographical footprint.

Eddy Wu, President and CEO of HCP Packaging, said: “We are incredibly proud of our journey to become a leading cosmetics packaging manufacturer and would like to thank BPEA for their support over the past six-and-a-half years. Our strategic priorities continue to be centered on driving sustainable packaging innovation and delivering top-quality services and best-in-class operational excellence to our customers around the world. We are delighted to partner with Carlyle and to have a new owner with such high calibre. We look to leverage Carlyle’s global platform strengths for our next phase of growth and as we expand our leading market position internationally.”

Wanlin Liu and Dennis Wang, Managing Directors of the Carlyle Asia Partners advisory team, said: “We are excited to partner with HCP and look forward to working with Eddy and the management team on the company’s next phase of global growth and expansion. We see long-term growth potential in the beauty and cosmetics industry and believe HCP’s business track record and commitment to R&D and ESG are market differentiators. We plan to leverage the strengths of our global platform, deep industry and market expertise, and synergies from our extensive network of portfolio companies in the consumer and manufacturing sectors to help HCP capture new growth opportunities, and take the company to the next level.”

Alex Lee, Managing Director at BPEA, said: “We are proud to have supported HCP’s growth and evolution into a global leader in packaging during our time with the company. By expanding into new markets, broadening HCP’s reach in its home market of China and developing a range of exciting new product offerings through selective bolt-on acquisitions, we’re confident that the company is very well positioned to continue growing over the longer-term. We’re also proud to have overseen the transformation of HCP’s ESG and sustainability capabilities, including developing refillable PCR packages and utilizing sustainability-certified manufacturing facilities, which will leave a more sustainable and environmentally-friendly footprint going forward.”

The transaction is subject to customary regulatory approvals and is expected to close in Q3 2022.

***

About HCP

From conception to manufacture, HCP Packaging is a global leader in the design, development, and manufacture of next generation primary packaging containers for the beauty industry. HCP’s product portfolio includes compacts and palettes, lipsticks and twist up sticks; mascara with expertise in molded & fiber brushes; lip gloss and concealer, pots, jars, and closures; pumps and droppers. Dedicated to sustainability, with world-class in-house finishing facilities, HCP enables brands to customize and transform packaging aesthetics with high quality and striking decoration. For more information on HCP, please visit the company’s website www.hcpackaging.com

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $325 billion of assets under management as of March 31, 2022, 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. Carlyle employs nearly 1,900 people in 26 offices across five continents.

Carlyle’s buyout funds, including Carlyle Asia Partners and Carlyle Japan Partners, have well-established experience investing in the consumer and retail as well as manufacturing and industrial sectors, with investments in TOKIWA Corporation, Beautycounter, Golden Goose, Vogue, Novolex and Logoplaste among others. Globally, Carlyle has invested approximately US$25 billion of equity in over 135 deals in the consumer, media and retail sector and over US$30 billion of equity in more than 115 deals in the manufacturing and industrial sector as of March 31, 2022.

Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About BPEA

Baring Private Equity Asia (BPEA) is one of Asia’s largest private alternative investment firms, with USD 21 billion of FPAUM. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 25-year history and over 220 employees located across 10 offices in Beijing, Delhi, Hong Kong, London, Los Angeles, Mumbai, Singapore, Shanghai, Sydney, and Tokyo.

BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance. For more information, please visit www.bpeasia.com.

 

Media contacts

HCP:
Cheryl Morgan
+44 1202 670099
cmorgan@hcpackaging.com

Carlyle:
Lonna Leong
+852 9023 1157
lonna.leong@carlyle.com

BPEA:
Fergus Herries
+852 3758 2685
fergus.herries@secnewgate.hk

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Ryan to Receive New Investment from Ares Management and Continued Investment from Onex Partners

Onex

DALLAS and TORONTO (May 26, 2022) – Ryan, LLC (“Ryan” or the “Company”) and Onex Corporation (“Onex”) (TSX: ONEX) announced today a private equity fund managed by Ares Management Corporation (“Ares”) (NYSE: ARES) has committed to acquiring a significant minority equity interest in Ryan, valuing the Company at $2.5 billion. The investment was made in partnership with Ryan’s management team and the Company’s existing investor Onex Partners, Onex’ flagship private equity platform, who will retain a significant minority equity interest in Ryan. This combined partnership will drive the next stage of growth for the Company.
Headquartered in Dallas, Texas, Ryan is a leading global tax services and software provider with an integrated suite of federal, state, local, and international tax services, and is the largest firm in the world dedicated exclusively to business taxes. Its multidisciplinary team of more than 3,500 professionals and associates serves over 18,000 clients in more than 60 countries, including many of the world’s most prominent companies.

“Ares is an excellent partner for our firm due to their experience helping great companies drive technology transformations and long-term growth,” said G. Brint Ryan, Chairman and Chief Executive Officer of Ryan. “We have been on a growth trajectory with recent strategic acquisitions, expansions of several key practice areas, and the addition of some of the world’s most respected companies to our already impressive client roster. With the backing of Ares and Onex, we’ll continue this momentum and increase value to our clients and team members around the world as we build the global brand in tax.”

“Ryan is a culture-driven, growth-oriented sector leader in the tax advisory and software industry,” said Abraham Zilkha, Partner in the Ares Private Equity Group. “We are thrilled to have the opportunity to partner with the Ryan team and with Onex, and we look forward to leveraging the breadth of our global platform to help support Ryan’s continued growth.”

“When we invested in Ryan almost four years ago, the firm’s strong track record, client-centric approach, and winning culture were very clear,” said Amir Motamedi, a Managing Director at Onex Partners. “Since then, Ryan has continued to strengthen its market position by focusing on the needs of its clients and well-being of its team members. We believe the best is yet to come, and we’re delighted to welcome Ares as our new partner.”
The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.

This news release may contain forward-looking statements that are based on Ares, Ryan, and Onex management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Ares, Ryan, and Onex are under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

About Ryan
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a 10-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 3,500 professionals and associates serves over 18,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2022, Ares Management Corporation’s global platform had approximately $325 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In addition, through our private wealth platform, we service high net worth clients in Canada. In total, as of March 31, 2022, Onex has $49.2 billion in assets under management, of which $8.2 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms. Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

For Further Information:
Ryan
Stacey Underwood Senior Manager, Content, Communications, and Public Relations
+1 972.934.0022
stacey.underwood@ryan.com
Ares
Brittany Cash
+1 212.301.0347
or
Jacob Silber
+1 212.301.0376
media@aresmgmt.com
Onex
Jill Homenuk
Managing Director – Shareholder Relations and Communications
+1 416.362.7711

Categories: News

Bain Capital Completes Acquisition of VXI Global Solutions

BainCapital

BOSTON and HONG KONG, May 25, 2022 – Bain Capital Private Equity (“Bain Capital”), a leading global, value-added investor, announced that it has completed its acquisition of VXI Global Solutions, a leading provider of Business Process Outsourcing (“BPO”) services to businesses around the world, from The Carlyle Group. Financial terms of the private transaction were not disclosed.

Bain Capital Completes Acquisition of VXI Global Solutions

Founded in Los Angeles in 1998, VXI Global Solutions provides innovative contact center and BPO services, omnichannel and multilingual support, software development, customer experience innovation, quality assurance and infrastructure outsourcing. VXI has more than 35,000 employees operating in 42 locations in North America, Asia, Europe, and the Caribbean and plays a key role in partnering with multinational businesses as they expand their reach around the world.

Bain Capital previously invested in VXI from 2012 – 2016. During this period, VXI further penetrated the Chinese and Central American markets. Also fueling the company’s growth was the acquisition of Symbio, a leading IT outsourcing provider, which expanded VXI’s global services offering and enhanced its competitive position in China.
David Zhou, Co-Founder and Co-CEO of VXI, said: “On behalf of my Co-Founder and Co-CEO, Eva Wang and the entire VXI team, I’m extremely grateful for the close and strategic relationship we’ve fostered with The Carlyle Group over the last five years. Their continued support and confidence allowed us to grow into the leading global Customer Experience (CX) firm we are today. Reuniting once again with Bain Capital will accelerate our obsessive pursuit of creating legendary and transformational experiences for our employees, our clients and their customers as we enter the next chapter of CX and CX Advisory services. We couldn’t have a better partner than Bain Capital as we continue to disrupt the CX space by enabling challenging perspectives, developing innovative tools and investing deeply in people to unlock the art of the possible.”

Jonathan Zhu, a Managing Director at Bain Capital Private Equity, said: “This investment is testament to Bain Capital’s advantage in founder partnership deals and the result of more than 10 years of relationship building. Over the past three years, VXI has demonstrated robust organic growth, and we are confident in David and his team’s ability to accelerate this trajectory.“

BofA Securities served as the exclusive financial advisor to Bain Capital Private Equity.

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $160 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, visit: www.baincapital.com

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CapMan Real Estate acquires a portfolio of four office properties located in midtown Helsinki

Capman

CapMan Real Estate press release
25 May 2022 at 14.00 pm EEST

CapMan Real Estate acquires a portfolio of four office properties located in midtown Helsinki

The CapMan Nordic Real Estate III fund (“Fund”) acquires four office properties located in the midtown Helsinki neighbourhoods of Pasila, Vallila and Kalasatama from Goldman Sachs Asset Management and Cromwell Property Group. CapMan aims to modernise the spaces and improve the energy efficiency of the assets. The assets complement the existing value-add strategy of the Fund.

The assets have a total lettable area of 35,000 square metres and are located in vibrant and accessible mid-town office areas of Helsinki. The central locations combined with unbeatable public transport connections make the assets very attractive to perspective tenants, for example, Pasilanraitio 5 is located adjacent to the Tripla shopping centre and certain key transit connections, Kumpulantie 3 is located in Vallila, close to Pasila, Elimäenkatu 26 is located in the heart of Vallila and Vanha Talvitie 11 is located in the fast-growing Kalasatama area which is located close to the metro station.

Commenting on the acquisition, Sampsa Apajalahti, Investment Director at CapMan Real Estate stated “the Pasila-Vallila-Kalastama commuter area is one of the largest office hubs in Helsinki. The prime location and availability of public rail transport offer plenty of opportunities to companies seeking office space. That said, many of the offices in the area are in need of upgrades. Our goal is to create attractive workplaces by modernising the spaces and improving their energy efficiency, with the ultimate aim of obtaining energy certificates for each of the assets. Overall, the assets are a great strategic fit for our fund”.

The EUR 564 million Fund was established in 2020 and it primarily invests in office, retail, and residential real estate in the Nordic regions.

CapMan Real Estate currently manages approximately EUR 4.0 billion in real estate assets and the Real Estate Team comprises over 60 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Sampsa Apajalahti, Investment Director at CapMan Real Estate, +358 40 575 2363

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over €4.7 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We have been listed on the Nasdaq Helsinki since 2001. Read more at www.capman.com.

About Goldman Sachs Asset Management Real Estate

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure.  Established in 1991, the Real Estate business within Goldman Sachs Asset Management is one of the largest investors in real estate with over $50 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic. Our global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity. Follow us on LinkedIn

 

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DIF Capital Partners to grow its district heating and energy services business platform Loimua by acquiring Pilke Energia

DIF

DIF Capital Partners (“DIF”) is pleased to announce that its Finnish district heating and energy services business platform Loimua Oy (formerly known as Elenia Heat) has agreed to acquire Pilke Energia and its subsidiaries from Lahti Energia.

Pilke Energia owns and operates biomass boilers with a capacity of 48MW across two sites in the municipality of Kärkölä, South of Finland. The company’s main responsibility is to produce energy for a local wood product company, Koskisen Oy.

Loimua’s CEO Matti Tynjälä says: “Koskisen will be a significant new customer for our industrial-scale energy services business. Renewable energy and its production serve the customer’s needs and the companies’ carbon neutrality goals in a great way. Loimua’s experience in producing renewable energy supports new cooperation in meeting Koskinen’s energy needs”.

DIF and its partners were advised by Avance (legal) and Deloitte (tax and accounting).

About Loimua

DIF Capital Partners, together with its partners Local Pensions Partnership Investments and abrdn, 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 640MW of heat production capacity across 16 networks, covering circa 500 kilometers and circa 4,600 supply points (85,000 end-users).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

 

 

 

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Applied Adhesives Acquires Alliance Adhesives

Arsenal Capital Partners

Minnetonka, MN– APPLIED Adhesives, a premier custom adhesive solutions provider in North America, today announced that it has completed its acquisition of Alliance Adhesives, a regional supplier of adhesives and dispensing equipment solutions located in Oldsmar, FL. This acquisition strengthens the company’s commitment to providing industry-leading products, technical expertise, and superior service to its customers.

“Alliance’s dedication to providing an exceptional customer experience is in direct alignment with Applied’s commitment to relentless customer focus, demonstrating an ideal cultural fit,” said John Feriancek, President and CEO of APPLIED Adhesives. “We are pleased to welcome Alliance Adhesives to APPLIED Adhesives and look forward to providing their customers with the outstanding service and innovative solutions they have come to expect.”

“Alliance always has the mindset that we are an extension of our customers’ business by supporting their needs to drive their success. Our relationship with our customers is our number one priority. We have them to thank for who we are today,” said David Rittenhouse, President of Alliance Adhesives. “Applied shares those same values and mindset. We feel the support that Applied brings to the table and their passion for relentless customer focus makes this a win for everyone.”

About APPLIED Adhesives

APPLIED Adhesives, founded in 1971, is a premier custom adhesive solutions provider in North America. The company is a value-added distributor of hot melt, water-based, and reactive adhesives as well as dispensing equipment. APPLIED Adhesives serves as a critical supply chain partner to leading adhesive manufacturers and formulators by offering reach and high service levels to an expansive customer base. For more information, please visit appliedadhesives.com or follow us on LinkedIn.

About Alliance Adhesives

Located in Oldsmar, FL, Alliance Adhesives is a regional, family-owned manufacturer and distributor of industrial adhesives. For 20 years, customers have depended on Alliance for cost-effective solutions for their adhesives needs. Alliance serves customers of all types including small- and medium-sized businesses, large enterprises, agricultural, educational institutions, government agencies, and consumers. For more information, please visit Allianceadhesives.com

APPLIED Adhesives Media Contact:
David Posadas
Vice President of Marketing
dposadas@appliedproducts.com

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