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Anders Invest signs 100% participation Royal Leerdam – Crisal

Anders Invest

Anders Invest has signed an agreement to purchase a 100% participation in Royal Leerdam and its affiliated company Crisal – Cristalaria Automática S.A.  The companies manufacture table glass for the European market from the Netherlands and Portugal( under the Royal Leerdam and Crisal Glass brands, has a turnover of approximately € 120 million and employs more than 600 employees in the Netherlands and Portugal.

 

Glass has been produced in Leerdam since 1765. With the arrival of the glass factory in 1878, Royal Leerdam was founded.  With the Crisal factory in Portugal, founded in 1944, Royal Leerdam has grown into a strong player in the European market of table glass.  The company operates from the production site in Leerdam in the Netherlands and Marinha Grande in Portugal.  In addition, the distribution center is located in Gorinchem. Royal Leerdam and Crisal serve customers in retail, wholesale and hospitality throughout Europe, Australia, India, New Zealand and the Middle East.

 

Anders Invest has acquired its interest from Libbey Glass LLC.  Libbey has decided to divest its European activities in order to strategically prioritize and expand its business within its core markets, especially the Americas. The closing of this transaction is anticipated to occur at the end of this month. Following the close of the transaction, Libbey and Anders Invest will maintain an ongoing commercial relationship, including uninterrupted access to products and other support.

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AXA IM Alts and Swiss Life Asset Managers to acquire Spanish fibre business lyntia Networks

Antin

AXA IM Alts, a global leader in alternative investments, acting on behalf of clients, and Swiss Life Asset Managers announce that in a new joint venture they have agreed to the acquisition of leading Spanish fibre business lyntia Networks from Antin Infrastructure Partners.

lyntia Networks is a leading wholesale operator in the Spanish telecommunications market and the only neutral provider operating both lit and dark fibre, where it is the market leader. It owns and operates a high quality nationwide fibre network of over 43,000 km built primarily alongside electric power and gas distribution infrastructure and is one of the largest providers of neutral connectivity to large customers in Spain, with revenues underpinned by long term contracts to blue chip companies. It offers long-haul access, connecting c. 2,700 metropolitan and underserved small-to-medium sized towns, as well as coastal areas, resulting in limited competition over the footprint.

Antin Infrastructure Partners will continue to own and operate the lyntia Access business which provides wholesale Fibre to the Home (‘FTTH’) connectivity to residential properties.

Following this transaction, José Antonio López, will continue as CEO of lyntia Networks, while Eduardo Taulet will remain with Antin as CEO of lyntia Access.

The transaction is subject to customary regulatory approvals and is expected to close by the end of the year.

Commenting on the transaction José Antonio López, CEO of lyntia Networks, said: “This investment guarantees the long-term support of experienced telecom investors that will bring value to our customers and contribute to the development of the gigabit society in Spain through expertise in dark fibre, lit fibre and edge data centres. I would like to thank Antin for its fantastic support in helping grow lyntia’s network and business in Spain, and welcome our new shareholders, AXA IM Alts and Swiss Life Asset Managers, to continue developing this exciting project. We will continue our strong cooperation with lyntia Access, providing them with best-in-class XGS-PON transmission across the country.”

Mark Gilligan, Head of infrastructure at AXA IM Alts added: “Our investment strategy is underpinned by the three themes we think will dominate 21st century infrastructure: decarbonisation, electrification and digitalisation. lyntia Networks is essential for the delivery of ultrafast internet services throughout Spain and it makes a superb addition to our growing digital infrastructure portfolio which includes XpFibre in France and Data4 across Europe. We are looking forward to working with our partners Swiss Life Asset Management and the Lyntia Networks management team as we grow this optical fibre network and its ancillary businesses toward 2030 and beyond.”

Emmanuel Lejay, Executive Director of Swiss Life Asset Managers, commented: “We are very pleased to announce this new investment in the telecommunication sector and to become the largest investor in lyntia Networks, emphasising the expertise of our team. Telecommunication infrastructure is a strategic asset class for us as the world continues on its path towards digitalisation. We are thrilled to support an experienced and motivated management team to help lyntia Networks further grow in the market and provide strong services to its clients. We are also glad to complete the investment alongside a long term and likeminded partner in AXA IM Alts.”

Mauricio Bolaña, partner of Antin Infrastructure Partners said: “We are very pleased with the successful execution of our value creation strategy. Together with management, we have built lyntia Networks into the leading independent neutral wholesale fibre operator in Spain through a focus on strong organic growth and transformational M&A. We have also in parallel built up lyntia Access into the largest independent FTTH access platform in Spain going from less than 150,000 homes passed at acquisition to over 2.4 million today. We will continue to own and develop lyntia Access with Eduardo Taulet at the helm.”

Antin was advised by Deutsche Bank, UBS and Banco Santander, with Herbert Smith Freehills as legal adviser. AXA IM Alts and Swiss Life Asset Management were advised by Rothschild and DC advisory, with Uria Menéndez and Gibson Dunn as legal advisors.

For further information

PR Antin

Nicolle Graugnard

nicolle.graugnard@antin-ip.com

 

 

PR lyntia

Xiana Santos

xianasantos@qmscomunicacion.com

Phone: +34 628 813 281

 

AXA IM Alts

Jocelyne Tamssom, Head of Communications

Pauline Mauvenu, Communication Officer

Tel : +33 1 44 45 96 62 / +33 1 44 45 89 84

PressOfficeAXAIMAlts@axa-im.com

 

FTI Consulting Inc. (for AXA IM Alts)

Richard Sunderland, Ellie Sweeney, Richard Gotla, Talia Jessener, Ollie Harrison

Tel: +44 20 3727 1000

AXAIMAltsRA@fticonsulting.com

Swiss Life Asset Managers

sl-am-communication@swisslife-am.com

Phone: +41 43 547 66 88

 

 

 

About AXA IM Alts 

AXA IM Alts is a global leader in alternative investments with €183 billion of assets under management[1] comprising over €86 billion of primarily private real estate, c.€82 billion of private debt and alternative credit, as well as over €12 billion in Infrastructure, private equity and hedge funds. We take a 360° approach to real assets (real estate & infrastructure) investing with over €121 billion of assets under management in direct opportunities, held indirectly through debt and listed equities and via long term private equity investments into operating platforms. ESG is fully integrated into our investment decision making processes with our responsible investment approach anchored by the three key pillars of decarbonisation, resilience and building tomorrow.

AXA IM Alts employs over 750 people located in 16 offices around the world and serves the needs of more than 500 clients from Europe, North America, Asia Pacific and Middle East. We are the number one property portfolio and asset manager in Europe[2], and one of the largest worldwide.

1 Source: AXA IM data (unaudited). All figures as of 31 December 2021.

2.INREV Fund Manager Survey, June 2021. #1 largest European managers in total real estate assets under management. 

 

About AXA Investment Managers 

AXA Investment Managers (AXA IM) is a responsible asset manager, actively investing for the long-term to help its clients, its people and the world to prosper. Our high conviction approach enables us to uncover what we believe to be the best global investment opportunities across alternative and traditional asset classes, managing approximately €887 billion in assets as at the end of December 2021.

AXA IM is a leading investor in green, social and sustainable markets, managing €563 billion of ESG-integrated, sustainable or impact assets as at the end of December 2021. We are committed to reaching net zero greenhouse gas emissions by 2050 across all our assets, and integrating ESG principles into our business, from stock selection to our corporate actions and culture. Our goal is to provide clients with a true value responsible investment solution, while driving meaningful change for society and the environment.

At end of December 2021, AXA IM employs over 2,460 employees around the world, operates out of 23 offices across 18 countries and is part of the AXA Group, a worldwide leader in insurance and asset management.

Visit our websites https://realassets.axa-im.com and www.axa-im.com

Follow us on Twitter @AXAIMAlts and @AXAIM

 

About Swiss Life Asset Managers

Swiss Life Asset Managers has more than 160 years of experience in asset management. Swiss Life Asset Managers offers its services to third-party clients in Switzerland, France, Germany, Luxembourg and the UK. As at 31 December 2021, assets under management for third-party clients amount to CHF 102.8 billion. Together with insurance mandates for the Swiss Life Group, total assets under management at Swiss Life Asset Managers stood at CHF 276.3 billion. Swiss Life Asset Managers has a team of more than 40 professionals specialized in direct equity infrastructure investments in OECD countries. As at 31 March 2022, the team manages commitments of around €9 billion to infrastructure equity on behalf of clients. The team has completed over 60 infrastructure investments globally across the renewables, energy, regulated utilities, transportation, communication and social infrastructure sectors.

Self-determined Life

Swiss Life enables people to lead a self-determined life and look to the future with confidence. Swiss Life Asset Managers pursues the same goal: We think long-term and act responsibly. We use our knowledge and experience to develop future-oriented investment solutions. This is how we support our customers in achieving their long-term investment objectives, which in turn also take account of their client’s needs so they can plan their financial future in a self-determined manner.

 

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €22 billion in assets under management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, telecom, transport and social infrastructure sectors. With offices in Paris, London, New York, Singapore and Luxembourg, Antin employs over 175 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to portfolio companies and investors. Majority owned by its partners, Antin is listed on Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).

Categories: News

ACE Education acquires French fashion business school EIDM

Oakley
  • Adds to ACE’s sports management, luxury hospitality management, arts and design verticals
  • Takes ACE to 30+ campuses and 5,000+ students in France and abroad
  • Next step in ACE and Oakley’s buy-and-build strategy

Oakley Capital (‘Oakley’), the pan-European private equity investor, is pleased to announce that portfolio company ACE Education Group (‘ACE’) has acquired EIDM, one of France’s leading Fashion Business & Styling schools.

Based in Paris, the fashion capital of the world, EIDM offers students a range of specialised programmes from Bachelor’s to Master’s, as well as recognised professional diplomas. The school enjoys strong growth, having quadrupled student enrolments over the last three years. EIDM’s unique network of partners and relationships across the industry enables students to pursue successful careers at home and internationally. Today, 85%(1) of EIDM students go on to secure a job in the industry after graduating, and EIDM alumni have worked at premier fashion houses including Jean Paul Gaultier, Versace and Dolce & Gabbana.

ACE is a diversified higher education group with over 30 campuses in France and abroad and over 5,000 students. The business operates under four brands: AMOS, the leading French sports management business school; ESBS, a sports management school based in Valencia, Spain; ESDAC, a leading French design school group; and CMH, a heritage international luxury hospitality & tourism school.

Oakley reinvested in the business in 2021 alongside Groupe Amaury and ACE’s founder Patrick Touati to benefit from the business’ strong future growth potential, from a rich pipeline of M&A opportunities, as well as from the significant strategic and commercial benefits Amaury can bring as a prominent stakeholder in the French sports industry.

The acquisition of EIDM will enable ACE to further diversify its business and train students in the business of Fashion and Luxury, a major industry in Europe with strong, long-term growth prospects.

ACE Education Group CEO Sylvestre Louis, said: “We are delighted to welcome EIDM to the ACE Education Group. There are many synergies with the other schools in the Group, particularly with our design school, ESDAC. It is also a real opportunity to support the growth of EIDM, which has increased its student population fourfold since 2018.”

Oakley Capital Founder and Managing Partner Peter Dubens said: “We’re pleased to see ACE deliver on its buy-and-build strategy as we further diversify and grow the business to become one of Europe’s leading higher education platforms. We continue to see strong demand for specialised higher education programmes, which ACE provides across its schools and campuses. Luxury & Fashion is an exciting vertical to add and neatly complements its existing specialisations such as arts & design.”

(1) In-house survey from 2018 to 2021

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PAI Partners agrees sale of Perstorp to Petronas Chemicals Group

PAI Partners

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces that it has reached an agreement to sell Perstorp Holding AB (the “Company” or “Perstorp”), a leading sustainability-driven global specialty chemicals company, to Petronas Chemicals Group Berhad (“PCG”), for EUR 2.3bn on a cash and debt free basis.

Established in Sweden more than 141 years ago, Perstorp is a leading specialty chemicals player that develops sustainable solutions for the resins and coatings, engineered fluids, and animal nutrition end-markets. With seven state-of-the-art manufacturing sites and three research and development centres worldwide, Perstorp is present in 26 countries, including the US, in Europe and across the Asia Pacific. It has approximately 1,500 employees and serves more than 2,600 customers globally, with its 130 product offerings across 30 product groups.

Over the course of PAI’s investment, it helped Perstorp embark on a solid sustainability strategy, which included developing products and solutions that are used by and required for the sustainable transformation of many industries and end products. For example, under PAI’s ownership, the Company has created a number of innovative solutions such as the production of sustainable methanol from carbon dioxide, residue streams, biogas and green hydrogen at Perstorp’s Stenungsund site, which will replace a significant portion of its fossil-based methanol feedstock by 2026. PAI has supported Perstorp to grow organically and through market consolidation and has helped to enhance the Company’s reputation amongst its customer base for its product quality and customisation, its supply reliability, its customer centricity and its focus on sustainable products.

Fabrice Fouletier, Partner at PAI, commented: “Under the leadership of Jan Secher and the whole of Perstorp’s fantastic management team, the Company has transformed over the past years, becoming a leading-edge precursor in sustainable and innovative specialty chemistry. As a team, we are extremely proud of the achievements to date and also to have supported the significant investments which have laid the foundations of the current and future profitable growth trajectory.
We see a bright future in Perstorp, in particular within the Petronas Chemicals Group, and wish the team every success in their next chapter of growth.”

Further, Ragnar Hellenius, Partner at PAI, added: “With Petronas Chemicals Group taking this major step into new geographical markets and business models by acquiring Perstorp, it is a clear testimony of Perstorp’s unique market position, technological expertise and above all, an outstanding management team supported by a value driven organisation. I feel proud to have been part of Perstorp’s growth journey and it will be a pleasure to follow how Petronas and Perstorp together will transform the industry into green chemistry.”

Jan Secher, President and CEO of Perstorp, said: “We have been grateful for PAI’s expertise during our partnership. Our teams have worked hard to grow the Company over the last few years, and it is incredibly rewarding to see that our efforts have been a success and allowed us to be well positioned for the next phase of our growth.”

The completion of the acquisition is subject to relevant regulatory and shareholders’ approvals.

PAI was advised by Bank of America, Goldman Sachs and Willkie Farr & Gallagher.

Media contacts

PAI Partners
Greenbrook Communications:
James Madsen | Demi Kurban
Tel.: +44 207 952 2000
pai@greenbrookpr.com

Petronas Chemicals Group
Yogeswari Thangavelu
Media Relations, Strategic Communications & Administration Department
yogeswari.thangavel@petronas.com

About PAI Partners

PAI Partners is a pre-eminent private equity firm, investing in market-leading companies across the globe. It currently manages more than €22.4 billion of dedicated buyout funds and, since 1994, has completed 90 investments in 11 countries, representing over €70 billion in transaction value. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience and long-term vision enable companies to pursue their full potential – and push beyond.
Learn more about the PAI story, the team and their approach at: www.paipartners.com

About Perstorp Holding AB

Perstorp believes in improving everyday life – making it safer, more convenient and environmentally sound for billions of people all over the world. As a world leading specialty chemicals company, our innovations provide essential properties for products used every day and everywhere. Founded in Sweden in 1881, Perstorp’s focused innovation builds on over 140 years of experience, representing a complete chain of solutions in organic chemistry, process technology and application development. Perstorp has approximately 1,500 employees and manufacturing units in Asia, Europe and North America. Further details on Perstorp can be found here: www.perstorp.com

About PETRONAS Chemicals Group Berhad

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products. With a total combined production capacity of 12.8 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products. Listed on Bursa Malaysia in 2010 and with more than three decades of experience in the chemicals industry, PCG was established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.

PCG is one of the top 10 companies in the FTSE4Good Bursa Malaysia (F4GBM) Index, out of 200 largest companies ranked by market capitalisation. In addition, PCG is listed on the Dow Jones Sustainability™ World Index. This Index represents the top 10% of the largest 2,500 companies in the S&P Global BMI based on economic, environment and social criteria. PCG is committed to ensuring that its business practices are in line with globally recognised standards for Economic, Environment, Social & Governance (EESG) practices.
Further details on PCG can be found at www.petronaschemicals.com

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Ardian acquires a minority stake in Taxually, a leading provider of tax compliance software solutions

Ardian

17 May 2022

Growth

France, Paris

Ardian, a world-leading private investment house, announces today it has acquired a minority stake in Taxually, a leading cloud-native tax compliance software company. This investment, made by the Growth team at Ardian, will enable the company to accelerate growth globally, including through build-up opportunities and investment in its market leading indirect tax technology platform.

Founded in 2018 in Budapest, Taxually provides international businesses with a solution to manage and automate their VAT returns via its best-in-class platform, and is available in more than 40 countries. The company was founded by three former KPMG executives with extensive sector experience (Michael Glover, Stefan Mladenovic and Fergal Garvey).

Taxually works with key marketplaces, E-commerce aggregators, E-commerce sellers and enterprise customers around the world. The company has also successfully launched partnerships with some of the largest marketplaces globally, empowering their end customers to unleash their full potential thanks to a completely automated VAT management solution. The business nearly tripled in size over the course of 2021.

The Growth team at Ardian, with its strong track-record in scaling-up high-growth companies, will support Taxually’s management team in their next development phase. Through this investment, the company will be able to pursue product innovation and accelerate international expansion, strengthen its teams, and seize external growth opportunities.

“We welcome the Ardian Growth team as our partner for the further development of our company. The excellent cultural fit between our teams and their deep understanding of our industry have been the key ingredients of our decision to broaden the shareholder base of Taxually with a financial sponsor. With Ardian we have a highly reputable growth investor on our side with a seasoned team and a clear commitment to support the ambitious targets we have set for ourselves.” Michael Glover, Co-Founder and Chairman of Taxually

“We are delighted to accompany Taxually on its journey to scale up and become a global category leader. We have identified a software product with a strong value proposition for its end customers and a talented and highly experienced team. We look forward to this strategic partnership and believe this investment highlights our ambition and our strategy to support the scale-up of high-growth companies across Europe and worldwide. Romain Chiudini, Managing Director in the Ardian Growth team

“Organizations of all sizes anywhere in the world must turn to automation to control accurately indirect tax calculation, filing and tax registration. Taxually has built a highly differentiated cloud-native solution that addresses the key pain points faced by sellers that operate globally and can unlock significant growth for them. We are thrilled to partner with Taxually’s team to address these challenges.” Olivier Roy, Senior Investment Manager in the Ardian Growth team
Parties to the transaction

Ardian
Ardian Growth: Romain Chiudini, Olivier Roy, Solène Hamouda
Legal advisor: McDermott Will & Emery (Diana Hund)
Financial advisor: KPMG (Philippe Bladanet, Benjamin Patte, Cyril Darcq)
Strategic advisor: Singulier (Remi Pesseguier, Kitson Synes, Christian Nikodem, Charles Lacroux, Marie-Sophie Dieter)

Taxually
Management: Michael Glover, Stefan Mladenovic, Fergal Garvey
M&A advisor: Credit Suisse
Legal advisor: Allen & Overy
Financial advisor: PWC

ABOUT TAXUALLY

Taxually was founded in 2018 and delivers VAT compliance solutions that cater for all business types, from online retailers to those with complex tax requirements. Taxually’s strength lies in its ability to not only understand the world of taxes but also translate it into technology solutions that help organisations reduce their administrative burden, improve the quality of their VAT compliance activities and mitigate the risk that non- compliance poses. Today, the company employs more than 65 employees and is headquartered in Budapest, with subsidiaries in the U.K., Ireland, France, China, Italy, Poland and Serbia.
www.taxually.com
ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$130bn 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 880 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 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

Media contacts

TAXUALLY

media@taxually.com

ARDIAN

HEADLAND
ardian@headlandconsultancy.co.uk

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Ampersand-backed Alliance Pharma to acquire LGC’s Drug Development Solutions Business (“DDS”) and welcomes KKR as joint shareholder

Malvern, PA, Cambridge, UK, and Sandwich, UK, May 17, 2022 – Alliance Pharma, a US-based Bioanalytical CRO and an Ampersand portfolio company, has agreed to acquire DDS, a UK-based Bioanalytical Business Unit of LGC. KKR will become an equal shareholder in the combined business alongside Ampersand Capital Partners. Backed by Ampersand and KKR, Alliance and DDS plan to expand the company’s geographic reach, broaden its laboratory capabilities and expand its service portfolio. The transaction is subject to regulatory approvals and expected to be completed in Q2 2022.

Alliance Pharma (“Alliance”), a global provider of large and small molecule bioanalytical services, provides a full suite of discovery Bioanalytical, DMPK, regulated bioanalysis, biomarker, LC-MS/MS, immunoassay, cell and gene therapy, and protein characterization assays. DDS is a European provider of Bioanalytical and Analytical and Materials Science Solutions to pharma, biopharma, consumer healthcare and consumer products clients, located in both Cambridge and Sandwich, UK.

Together, the combined entity will enable its clients to benefit from best-in-class international capabilities, particularly in the emerging areas of bioanalytical science such as cell and gene therapy and next-generation biologics.

Euan O’Sullivan, President and CEO, LGC, said: “I am proud of the scientific and commercial achievements delivered by the DDS business over the years, supporting customers in their mission to develop new medicines and products to improve the quality of life. I am confident that as part of the Alliance organisation, the DDS team will be well positioned for on-going success as part of a global business focused on bioanalytical and materials sciences activities.”

Eric B. Lev, General Partner at Ampersand Capital Partners, and Kugan Sathiyanandarajah, Managing Director at KKR, commented: “Alliance and DDS are highly complementary businesses with industry-leading management and scientific teams, and strong track records of supporting leading pharma and biopharma customers. We are delighted to be collaborating to bring together two well respected and fast-growing bioanalytical lab services businesses to create one of the leading global specialty bioanalysis platforms.”

KKR is investing in Alliance and DDS through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies.

 

About Alliance Pharma

Founded in 2008, Alliance is a contract research organization (CRO) that specializes in advanced bioanalytical research services for both small and large molecule drugs, as well as drug metabolism studies to support pharmaceutical and biotechnology companies’ drug discovery and development programs.  Alliance Pharma provides: quantitative LC-MS/MS analysis of small molecule drugs, metabolites, biomarkers, protein, peptides and oligonucleotides, as well as protein characterization services; immunoassay of proteins and antibody drug conjugates; immunogenicity assays (anti-drug antibody screening, confirmation, titer assessment, and NAb determination): cell-based bioassays; in vitro and in vivo drug metabolism and pharmacokinetic studies.

Alliance’s mission is to build a trusted partnership with our partners & clients to support their successful drug development programs.  Alliance’s business philosophy is based on a foundation of trust, professional ethics, scientific excellence, and regulatory compliance.

About LGC

LGC is a global life science tools company, providing mission-critical components and solutions into high-growth application areas across the human healthcare and applied market segments. Its high-quality product portfolio is comprised of mission-critical tools for genomics and for quality assurance applications, which are typically embedded and recurring within its customers’ products and workflows and are valued for their performance, quality and range.

LGC’s 180 years of scientific heritage, combined with a track record of innovation and value-enhancing acquisitions, has enabled the company to build its product portfolio and expertise, and develop deep relationships with customers, industry partners and the global scientific community.

About Drug Development Solutions (An LGC Business Unit)

DDS’s Bioanalytical solutions include liquid-chromatography mass spectrometry (LC-MS) and immunoassay bioanalysis, to provide data for pharmacokinetics, immunogenicity, pharmacodynamics and cell-based assays supporting all phases of drug development to GCP and GLP standards.  Its Analytical Materials Sciences solutions provides specialist testing of raw materials, formulated products, packaging and medical devices for trace impurities, contamination, degradation and quality control to support CMC (Chemistry Control and Manufacture) analytical testing to GMP (Good Manufacturing Practice) standard.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media contacts:

Ampersand Capital Partners
Mirsini Tzigizis
mt@ampersandcapital.com
+01.781.239.0700

KKR
Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
KKR-LON@fgh.com
+44.20.7251.3801

LGC
Guenaelle Holloway
Guenaelle.Holloway@LGCGroup.com
+44 7720 497 997

Categories: News

EQT Exeter to acquire portfolio of six purpose-built student accommodation assets in the UK

eqt
  • EQT Exeter to acquire six flagship student accommodation assets in two separate transactions from subsidiaries of Watkin Jones PLC and Tide Construction
  • The transactions total 2,313 beds in high-quality developments and will improve the availability of student housing in central locations in top-tier university cities in the UK
  • Bringing its European student housing portfolio to a total of 5,222 beds, EQT Exeter continues to execute on its strategy of providing a high-quality, high value-for-money housing offering with strong sustainability features in university cities that are underserved by the wider residential market

EQT is pleased to announce that the EQT Real Estate II fund (“EQT Exeter”) has agreed to acquire six flagship student accommodation assets in two separate transactions from subsidiaries of Watkin Jones PLC (“Watkin Jones”) and Tide Construction. The transactions amount to 2,313 beds, 1,254 of which are currently operating with a further 1,059 beds that will be developed by Watkin Jones and delivered during 2023 and 2024.

From Watkin Jones, EQT Exeter has agreed to acquire five assets with a total of 2,063 beds in Bath, Nottingham, Swansea, Bristol and Glasgow, top-tier university cities with severe supply shortages of student accommodation. Watkin Jones is the UK’s leading developer of student housing, having delivered 123 developments with 46,000 beds since 1999. In line with EQT Exeter and Watkin Jones’ high ESG standards, the three development assets are set to achieve BREEAM Excellent with the operating assets having already achieved BREEAM Very Good. Upon completion, Watkin Jones’ in-house operator, Fresh, will manage the five schemes on behalf of EQT Exeter. Covering 32 cities in the UK and Ireland with over 22,000 beds under management, Fresh has a proven ability to provide the full suite of services ranging from pre-opening advisory through to day-to-day management of the delivered projects.

From Tide Construction, EQT Exeter has agreed to acquire 250 beds in an operating asset known as Great Court, located in South Bermondsey, London, which is within close commute to all of the top-tier London universities and easy access to South Bermondsey rail station and Bermondsey tube station. It provides a high-specification offering to students including 24/7 reception, gym, study space, courtyard, cinema and lounge. The development was built with excellent sustainability credentials, achieving BREEAM Excellent and EPC A. The asset will be operated by CRM, an award-winning operator in the UK and EU with approximately 25,000 beds under management and a history dating back to 2003. Under CRM’s management, the asset achieved full occupancy when it opened in 2021.

UK student housing benefits from demographic-driven tailwinds with the 2020/21 academic year seeing its highest ever intake of first-year students on record. Coupled with a dwindling supply pipeline and an increasing obsolescence of older stock, UK students are expected to face increasing housing pressure. Despite global uncertainty, Brexit and the Covid pandemic, the number of international students in the UK continues to rise, largely driven by increasing demand from students who continue to seek entry to best-in-class universities that the UK has to offer. Yet, the new construction pipeline has declined significantly in recent years due predominantly to rising construction costs, restrictive planning policies, affordable housing requirements and competing land use.

These six purpose-built assets are important cornerstone investments as EQT Exeter seeks to aggregate a large portfolio of student housing assets across Europe with high-quality, high value-for-money offerings for students who are underserved by the wider residential market. EQT Exeter sees significant growth potential across the European student housing sector and has a significant pipeline of additional acquisition opportunities in markets with acute demand / supply imbalances and compelling demographic profiles.

Russell Petrie, Head of Student Housing – Europe, at EQT Exeter said, “These transactions mark a significant milestone for EQT Exeter’s expansion in the European student housing sector, bringing the total number student beds in operation or in development to 5,222 and adding a new country to our European footprint. By selecting the best locations in undersupplied markets coupled with an unwavering focus on tenant experience, we expect these assets to be highly attractive to students by providing an environment where they can thrive both educationally and socially.”

Henrik Orrbeck, Head of Transactions – Europe, at EQT Exeter said, “As a global leader in the Sheds, Beds and Meds sectors, student housing is a key pillar to growing EQT Exeter’s thematic investment strategy focused on providing direct-to-consumer real estate solutions in the thriving “living” sector. We are excited to work with Fresh and CRM to deliver a best-in-class product for the students.  We continue to investigate a number of exciting acquisition opportunities as we build upon this success and continue our European expansion efforts with a goal of being one of the leading European student housing investors.”

EQT Exeter was advised by DLA Piper and Capita on the transaction with Watkin Jones.

EQT Exeter was advised by Harris Associates, Taylor Wessing and Arcadis on the transaction with Tide Construction.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group.

A global leader in sheds, beds, and meds, EQT Exeter currently oversees a portfolio totaling over 350 million square feet across 1,800 buildings, while executing a tenant-centric strategy. The EQT Exeter Team comprises more than 300 experienced professionals operating in 44 offices around the globe. Together, they have consummated over 850 real estate investments. As part of EQT, the team leverages the firm’s industry-leading sustainability credentials and framework and in-house digitalization skills to generate increased value for its investor clients.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Watkin Jones
Watkin Jones is the UK’s leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high-quality developments. Since 1999, Watkin Jones has delivered 46,000 student beds across 136 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group’s specialist accommodation management business, manages over 22,000 student beds and build to rent apartments on behalf of its institutional clients.

The Group’s competitive advantage lies in its experienced management team and capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. 

For additional information please visit www.watkinjonesplc.com

About Tide Construction
Tide Construction Limited is a unique development and contracting company, utilising both traditional and Offsite Manufacturing Methodologies (OSM). It provides full turnkey building solutions using highly advanced offsite techniques and is a market leader in modular construction.

For additional information please visit www.tideconstruction.co.uk

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JAVELO joins forceswith Sympa and Recruittee to lead the way in performance management

Isai

The acquisition of Javelo further strengthens PSG’s HR tech platform already constituted of Sympa and Recruitee. The platform offers leading products in the three key HR software pillars: Recruitment, Core HR and Performance Management

Javelo, a leader in the performance management and employee engagement space based in Paris, announces that it has received growth investment from PSG Equity (“PSG”). PSG is a growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth and build scale across Europe and the U.S. Javelo will join forces with PSG-backed Sympa and Recruitee to deliver tools for HR leaders at the forefront of digitizing their teams.

Headquartered in Paris, Javelo, which was founded by Anne-Sophie Vasseur, David Guillermain, Guillaume Berthault and Gautier Machelon, has developed a robust performance management platform to help businesses develop a strong feedback culture. Javelo has since become an innovator in the European performance management space, offering a wide spectrum of tools from evaluation and appraisal to employee engagement, 360-degree feedback, objective tracking, and employee surveys. Today, Javelo has three offices and counts companies such as Transavia, Protectas, Domino’s Pizza, and Manpower among its customers.

Together, Javelo, Sympa, and Recruitee will aim to provide a portfolio of leading software tools for HR teams in small, medium-sized and larger businesses across strategic HR, people management, employee engagement, recruitment, and performance management. With over 6,000 customers collectively across Europe, the UK, and the U.S., and with over 400 employees, each business aspires to develop solutions for innovative HR leaders. Notable brands such as Red Bull Media House, Breitling, BMW, and TNT have engaged Javelo, Sympa, and Recruitee to help them to acquire high quality talent, safeguard employee data, and empower teams to make better strategic decisions.

Anne-Sophie Vasseur, CEO and co-founder of Javelo, commented: “Javelo joining forces with Sympa and Recruitee marks the beginning of an exciting chapter. We believe that PSG’s investment validates the potential of our platform and our team in the market. Additionally, it is our view that the collaboration with Sympa and Recruitee augments our existing geographic reach and product focus, and will allow us to continue delivering top results for our customers through cutting-edge HR tools.”

Edward Hughes, Managing Director of PSG, stated: “Congratulations to the team at Javelo for the product and team they have built. There continues to be tremendous opportunity in the HR software vertical, and we are excited to support Javelo, Sympa, and Recruitee on their journey.”

About Javelo

With offices in Paris, Marseille, and Barcelona, Javelo is a SaaS platform for HR performance management. Javelo supports innovative HR leaders in digitizing appraisal practices, which often make HR management unwieldy and do little to inspire people. The company provides a simple, intuitive platform that aims to help HR departments optimise the evaluation process and involve everyone in more collaborative management milestones that power performance and foster engagement. javelo.io

About Sympa

Headquartered in Finland, Sympa is one of the fast-growing HR vendors in Europe and a leader in the Nordics. With recognized brands such as BMW, Dustin, and Byggmax among its customers, Sympa’s digital solution aims to let HR leaders optimise every step of the employment journey through more streamlined HR processes, nurturing and development paths, and data-driven strategic decision-making. sympa.com

About Recruitee

Headquartered in Amsterdam, Recruitee is a cloud-based ATS solutions provider. The company’s digital software is built for teams to hire better, together. Their solutions cover job board integrations, talent sourcing, applicant tracking, pipeline automation, scheduling automation, and advanced hiring analytics. Since its inception in 2015, Recruitee has grown to service more than 5,000 customers from over 75 countries, a majority of which are from the company’s core markets of Benelux, DACH, the UK and the U.S. www.recruitee.com

About PSG

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 100 companies and facilitated over 400 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.


Press Contact Javelo : Paul Baratte & Gauthier Chatelain – contact@javelo.io

Press Contact Sympa : Jennifer Bailey – jennifer.bailey@sympa.com

Press Contact Recruitee : Anne Smink – anne.smink@recruitee.com

Press Contact PSG : Prosek Partners – Ryan Smith – rsmith@prosek.com – +44 785 475 0943

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Carlyle to Acquire ManTech in All-Cash Transaction Valued at Approximately $4.2 Billion

Carlyle

ManTech shareholders to receive $96.00 in cash per share

HERNDON, Va., May 16, 2022 – ManTech International Corporation (Nasdaq: MANT) (“ManTech” or the “Company”), a leading provider of innovative technologies and solutions for mission-critical national security programs, today announced that it has entered into a definitive agreement to be acquired by funds managed by global investment firm Carlyle (NASDAQ: CG) in an all-cash transaction with a total enterprise value of approximately $4.2 billion.

Under the terms of the transaction, ManTech shareholders will receive $96.00 per share in cash, which represents a 32% premium to ManTech’s unaffected closing share price of $72.82 on February 2, 2022, the last trading day prior to published media reports regarding a potential strategic process for the Company, and a 17% premium to the closing stock price of $81.97 on May 13, 2022.

“We have always admired ManTech’s unwavering commitment to support national security customers and their critical missions through differentiated capabilities and technology solutions. ManTech’s talented employees and leadership team have built a remarkable Company with strong market positions across the federal government,” said Dayne Baird, a Managing Director on Carlyle’s Aerospace & Government Services team. “Through this partnership, we look forward to leveraging our sector expertise and resources to accelerate growth and innovation and to drive greater value for customers and employees.”

“This announcement is an important milestone for ManTech and a testament to our growth and the leadership position we have built since our founding by George Pedersen more than 50 years ago,” said ManTech Chairman, Chief Executive Officer and President Kevin M. Phillips. “Following a comprehensive review of strategic alternatives, our Board determined that this transaction is in the best interest of our shareholders and provides them with the most compelling value maximization outcome, offering liquidity at a significant premium. We look forward to leveraging Carlyle’s deep knowledge and experience investing in and growing companies, as we deliver stronger outcomes for our customers and increased opportunities for our employees.”

Transaction Details

The transaction was unanimously approved by ManTech’s Board of Directors, which recommends that ManTech shareholders vote in favor of the transaction. The transaction is expected to close in the second half of calendar 2022, subject to approval by ManTech shareholders, receipt of regulatory approvals and other customary closing conditions.

Stockholders holding shares of common stock representing 49.2% of the current outstanding voting power of the ManTech common stock have entered into a voting agreement pursuant to which they have agreed, among other things, to vote their shares of common stock in favor of the transaction, subject to certain conditions.

Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor and King & Spalding LLP is serving as legal counsel to ManTech in connection with the transaction.

Robert W. Baird & Co. is serving as financial advisor and Latham & Watkins LLP is serving as legal advisor to Carlyle in connection with the transaction.

About ManTech International Corporation
ManTech provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business for more than 53 years, we excel in full-spectrum cyber, data collection & analytics, enterprise IT, systems engineering and software application development solutions that support national and homeland security. Additional information on ManTech can be found at www.mantech.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. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

Additional Information about the Acquisition and Where to Find It
This communication is being made in respect of the proposed transaction involving ManTech International Corporation (“ManTech”) and Carlyle. A meeting of the stockholders of ManTech will be announced as promptly as practicable to seek stockholder approval in connection with the proposed Merger. ManTech expects to file with the Securities and Exchange Commission (“SEC”) a proxy statement and other relevant documents in connection with the proposed Merger. The definitive proxy statement will be sent or given to the stockholders of ManTech and will contain important information about the proposed Merger and related matters. STOCKHOLDERS OF MANTECH ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MANTECH AND THE MERGER. Investors may obtain a free copy of these materials (when they are available) and other documents filed by ManTech with the SEC at the SEC’s website at www.sec.gov.

ManTech and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in soliciting proxies from its stockholders in connection with the Merger. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of ManTech’s stockholders in connection with the proposed transaction will be set forth in ManTech’s definitive proxy statement for its stockholder meeting at which the proposed transaction will be submitted for approval by ManTech’s stockholders. You may also find additional information about ManTech’s directors and executive officers in ManTech’s definitive proxy statement for its 2022 Annual Meeting of Stockholders, which was filed with the SEC on April 29, 2022, and in subsequently filed Current Reports on Form 8-K and Quarterly Reports on Form 10-Q.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements concerning ManTech and the proposed transaction between ManTech and Carlyle. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, the inability to obtain required regulatory approvals or satisfy other conditions to the closing of the proposed transaction; unexpected costs, liabilities or delays in connection with the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the transaction; the significant transaction costs associated with the proposed transaction and other risks that may imperil the consummation of the proposed transaction, which may result in the transaction not being consummated within the expected time period or at all; negative effects of the announcement, pendency or consummation of the transaction on the market price of ManTech’s common stock or operating results, including as a result of changes in key customer, supplier, employee or other business relationships; the risk of litigation or regulatory actions; the inability of ManTech to retain and hire key personnel; the risk that certain contractual restrictions contained in the business combination agreement during the pendency of the proposed transaction could adversely affect ManTech’s ability to pursue business opportunities or strategic transactions; and failure to maintain ManTech’s relationship with the U.S. government, or the failure to compete effectively for new contract awards or to retain existing U.S. government contracts during the pendency of the transaction.

Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. ManTech assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law.

Contacts:

ManTech Investor Relations 
Stephen Vather
VP, M&A and Investor Relations
(703) 218-6093
Stephen.Vather@ManTech.com

ManTech Media
Sheila Blackwell
VP, Enterprise Marketing & Communications
(301) 717-7345
Sheila.Blackwell@ManTech.com

Carlyle
Brittany Berliner
(202) 813-4839
Brittany.Berliner@Carlyle.com

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Pablo Isla Joins General Atlantic as Global Senior Advisor

General Atlantic

May 16, 2022

General Atlantic, a leading global growth equity firm, announced today that Pablo Isla has joined the firm as a Global Senior Advisor. Based in Europe, Mr. Isla will provide strategic support and counsel to General Atlantic’s global Consumer and Technology investment teams and portfolio companies, with a focus on digital enablement.

Mr. Isla joins General Atlantic following a distinguished career at Inditex Group, one of the world’s largest fashion retailers comprising brands including Zara, Massimo Dutti and Bershka, where he served as Chief Executive Officer from 2005 to 2011, Chairman and Chief Executive Officer from 2011 to 2019, and after that, as Executive Chairman until March 31, 2022. Under his stewardship, Inditex became a global leader in digital transformation and sustainability. Mr. Isla oversaw the adoption of a wholly integrated model underpinned by data, which enabled Inditex to coordinate a single global inventory and leverage cutting-edge tracking technology to evolve the experience for end users and stakeholders along each step of the supply chain.

Prior to his leadership tenure at Inditex, Mr. Isla served as Co-Executive Chairman of Altadis Group, a Franco-Spanish multinational, and before that was Group General Counsel at Banco Popular, following a previous stint at the financial services firm earlier in his career from 1992 to 1996. Mr. Isla was named the best performing CEO in the world by the Harvard Business Review in 2017 and 2018.

“Having steered some of the world’s most recognizable brands through their journeys to transform operations for the digital age, Pablo is an invaluable addition to our firm and brings with him deep knowledge of consumers across the globe,” said Bill Ford, Chairman and CEO of General Atlantic. “Pablo fostered a true culture of entrepreneurship at Inditex. He shares General Atlantic’s longstanding belief in the importance of innovation and power of digital adoption, with a long-term perspective on value creation. These are core areas of focus for our investment teams that partner with consumer-focused businesses, and we look forward to the ways Pablo will help us enhance our portfolio company support and broaden the global GA network.”

Pablo Isla commented, “It is a pleasure to be joining General Atlantic, a growth firm that brings true company-building capabilities to management teams around the globe. I look forward to working with this next generation of entrepreneurs who are building businesses for the digital age and embracing diversity and creativity across their organizations as they scale.”

Mr. Isla has served as a Director on Nestlé’s Board of Directors since 2018. He also serves as Chairman of the International Advisory Board at IE University and as a director on several foundation and institutional boards, including the Prado Museum and the Fundación La Caixa.

Mr. Isla graduated with a Law degree from the Complutense University of Madrid and joined the State Lawyers Corps in 1989.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlanticmedia@generalatlantic.com

Categories: People