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Ardian acquires a majority stake in Vista Vision, a leading Italian healthcare service provider specializing in ophthalmic and refractive surgery

Ardian

Ardian, a world-leading private investment house, announces the acquisition of a majority stake in Vista Vision, a market leader in Italy in providing high-quality healthcare services in ophthalmic and refractive surgery. The founders and managers of the company, Mario Salmeri (Chairman and CEO) and Stefano Zanchi (CEO), will reinvest alongside Ardian, as well as Credem Private Equity SGR, already investor of Vista Vision since 2020.

Headquartered in Milan, where it was founded in 2003, Vista Vision’s network counts 12 clinics in Italy and 5 in Romania, focusing primarily on laser surgery for the correction of myopia and on cataract surgery.

Vista Vision partners with the best ophthalmologists, providing them with cutting edge operating rooms, state-of-the-art equipment, as well as qualified medical support staff.

With a team of 170 employees and collaborators and a widespread presence across Italy, last year the company was able to perform over 30,000 surgeries and expects to close 2024 with a revenue exceeding €65 million.

Vista Vision’s innovative and flexible business model enables the company to offer highly efficient, fast, and top-quality services. The demand for eye care services is experiencing steady growth rates within a sector that is still highly fragmented which offers significant investment opportunities aimed at further consolidation, with Vista Vision poised to play a key role.

Since 2021, also thanks to the capital increase made by Credem Private Equity, the company has accelerated both its organic growth strategy, including the opening of three new clinics, and its M&A development through seven acquisitions, and further eight in pipeline in Italy.

In addition to its consolidation strategy in Italy, the company plans to pursue further growth opportunities in Romania and other European countries.

“We are excited to collaborate with Ardian and start a new phase of strategic growth. We embarked on an important development journey when Credem Private Equity SGR invested in 2020, and are thankful for their crucial support over the years, which has enabled us to become a leader in the sector in Italy. With Ardian, we will continue on this ambitious path, with the goal of consolidating our presence in Italy and expanding into other European markets.” Mario Salmeri and Stefano Zanchi, Founders and Managers of Vista Vision

“We are delighted to start our partnership with Vista Vision. Mario and Stefano have been far-sighted in creating, over 20 years ago, an innovative business that offers top-quality services. We are confident that the company, a leader in the Italian market, is well positioned to become an aggregator in this highly fragmented sector. Our strategy will be focused on developing the network in Italy and expanding internationally.” Marco Molteni, Managing Director Expansion, Ardian

“Vista Vision is an outstanding company in a high-growth sector. This investment is a key example of the Expansion team’s approach, based on partnerships with inspired entrepreneurs who reinvest alongside us to create value in high-potential market segments.” François Jerphagnon, Member of the Executive Committee, Managing Director Ardian France & Head of Expansion, Ardian

“Four years after our investment, Vista Vision has achieved growth more than tripling its turnover, establishing itself as a leading player in Italy and Romania in the treatment of visual impairments. Over the coming years, growth in international markets will become even more significant, and Ardian represents a key partner in terms of expertise and financial resources in this new phase of expansion”. Daniele Molinaro, CEO, Credem Private Equity SGR

“This transaction confirms the long-standing tradition and the excellent results achieved by Credem Private Equity in the development of Italian SMEs; the results obtained will bring value to all the subscribers of our Elite and CVC2 private equity funds”. Paolo Magnani, Wealth Management Area Coordinator for the Credem Group

List of participants

  • Participants

    • Ardian team: Marco Molteni, Giacomo Brettoni, Elisabetta Bozzoni Pantaleoni
    • Credem Private Equity team: Daniele Molinaro, Ivan Gangemi, Luca Sidoli
    • M&A: Mediobanca
    • Legal: PedersoliGattai and Russo De Rosa Associati
    • Business due diligence: LEK
    • Financial due diligence: KPMG
    • Tax due diligence: Gitti&Partners
    • AI & Digital due diligence: Assist Digital
    • IT & Cyber: Serma Group
    • ESG due diligence: Gruppo 2A (F2A)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT VISTA VISION

Vista Vision is a network of clinics specializing in ophthalmic and refractive surgery. Founded in 2003 from the idea of Mario Salmeri, current Chairman and CEO, and Stefano Zanchi, CEO, it is the leading network of private clinics in Italy, collaborating with the best ophthalmologists and constantly investing in the latest technology and staff training. The goal is to provide medical services to an increasing number of people while ensuring professionalism and high- quality standards.

Vista Vision has 12 clinics across major Italian cities, including Milan, Florence, Rome and Bari, plus 5 clinics in Romania.

https://www.vistavisiongroup.com/

ABOUT CREDEM PRIVATE EQUITY SGR SPA

Credem Private Equity SGR is the asset management company of the Credem Group, specializing in private equity funds and private market investments. Following the success of its Credem Venture Capital I fund, which delivered strong returns for investors, the company has become the group’s reference point for managing three new private equity funds (Elite, Credem Venture Capital II, and Eltifplus), raising over 200 million euros.

www.credempriveq.it

Media contacts

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

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FIELDS Team Approach Companies News Contact ESG JARO Group strengthens its position in cable infrastructure with the acquisition of BeKaBe Bekabeling, together with investor FIELDS Group

Fields Group

JARO Group, a leading civil and cultural engineering group active in the ground, road, and water construction sector, has acquired BeKaBe Bekabeling B.V. (BeKaBe) as of September 30, 2024. BeKaBe conducts above-ground and underground cable projects for a variety of clients. With this acquisition, JARO Group expands its capacity in cable infrastructure, enabling the group to better serve its customers. JARO Group was supported in the acquisition by investor FIELDS Group, a partner that came on board in March 2024 to actively assist JARO Group in implementing its growth strategy.

 

Acquisition combines strengths and offers growth opportunities

“By adding their years of expertise, we strengthen our cable infrastructure capacity, where we are already active within the group through EZW Infra & Energie B.V. We look forward to building a shared future together with the BeKaBe team,” said Gerrit Kalkman from JARO. “The acquisition of BeKaBe aligns well with our strategy to be a leading multidisciplinary player in the ground, road, and water construction market,” added Fabianne Onderwater, Investment Director at FIELDS Group.

Mike Blansjaar from BeKaBe stated: “With this step, we secure the continuity of the company, BeKaBe can benefit from the advantages of the group, and it has a partner to facilitate further growth. A true win-win situation.”

 

About JARO Group

JARO Group is a multidisciplinary player in the ground, road, and water construction sector, active throughout the Netherlands. The group consists of several different companies: JARO (infrastructure/civil works, cultural engineering and dredging, emergency services, and winter maintenance), EZW Energie & Infra (infrastructure projects focused on underground cables and pipelines), CSW (civil engineering services for industry), Huijbregts Infra (infrastructure projects and cultural engineering work, particularly in the Brabant region), Reijm (cultural engineering work and landscaping), and HT Infra (active in infrastructure/civil engineering work), both active in the Rijnmond/Greater Rotterdam region.

www.jarogroup.com

 

About BeKaBe

BeKaBe Bekabeling was founded in 1996 and delivers cable work throughout the Netherlands from its office in Vlaardingen. The company specializes in above-ground and underground cable work, fiber optic and data networks, high voltage cable work, directional drilling, and earthworks.

www.bekabe.nl

 

About FIELDS Group

FIELDS Group is an entrepreneurial, hands-on investor focused on developing companies with potential. FIELDS Group invests in companies headquartered in the Benelux and DACH regions and realizes fundamental transformations with its team.

www.fields.nl

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Harmony Healthcare IT Announces Acquisition of Trinisys

Novacap

Novacap announces the successful acquisition of Trinisys by its portfolio company, Harmony Healthcare IT.

Trinisys, based in Nashville, Tennessee, is a leading force in legacy data management. The acquisition will amplify Harmony Healthcare IT’s ability to manage the vast volumes of data in the healthcare industry through the delivery of advanced enterprise solutions.

As a result of this strategic acquisition, Harmony Healthcare IT and Trinisys will combine their expertise and resources to offer significant advantages to their clients. These include:

  • Expanded capabilities: A wider range of services and solutions to address the diverse needs of healthcare organizations.
  • Enhanced innovation: Increased investment in research and development to drive industry-leading advancements.
  • Strengthened market position: A more powerful presence in the healthcare market, enabling the company to better serve its customers.
  • Improved efficiency: Streamlined operations and optimized workflows to increase velocity.

“We are proud to support Harmony Healthcare IT as it seeks to explore new data handling and data use innovations to accelerate growth and expand its impact in the healthcare industry, ” said David Brassard, Partner at Novacap.

“I want to express my appreciation to Novacap for their dedicated support throughout this transaction” shared Tom Liddell, CEO of Harmony Healthcare IT. “This transaction enables two data management leaders to unite and deliver unmatched value to healthcare customers through world-class enterprise solutions,” said Liddell.

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Unimarket and VendorPanel Announce Merger to Provide Industry-Leading Source-to-Pay Solutions

AKKR Logo
  • Accel-KKR
  • | 

Annapolis, MD – October 9, 2024 – Unimarket, a global technology provider of spend management and e-procurement solutions, today announced its merger with VendorPanel, a source-to-contract procurement platform. The merger combines the strengths of both companies to deliver a more robust source-to-pay solution, optimizing business processes and delivering tangible business outcomes for customers worldwide. Unimarket is backed by Accel-KKR, a technology-focused investment firm.

According to Spend Network, global procurement is estimated to be $13 trillion USD annually, highlighting the critical need for optimization. This substantial spending underscores the critical role procurement optimization plays in improving efficiency and cost management for global businesses. Organizations are increasingly turning to digital solutions to improve visibility and control over their procurement processes, underscoring the significance of this merger between Unimarket and VendorPanel.

The combined company now serves nearly 450 customers across the United States, Australia, New Zealand, and Canada, in sectors such as corporate, education, healthcare, government, energy, facility management, transport, and utilities.

“Both companies bring over 15 years of expertise and a proven track record of delivering exceptional results,” said Phil Kenney, CEO of Unimarket. “This merger strengthens Unimarket’s ability to meet the evolving needs of our global customers, offering scalable solutions that capitalize on growing market opportunities.”

“Our merger with Unimarket provides an incredible opportunity to deliver even more value to our customers,” said James Leathem, CEO of VendorPanel. “Our combined platform delivers a comprehensive solution that enhances visibility and drives operational performance across the entire source-to-pay process.”

“This strategic merger marks a significant milestone for both Unimarket and VendorPanel, reinforcing their leadership in the procurement technology space,” said Phil Cunningham, Managing Director at Accel-KKR. “With their combined capabilities, these two companies are now poised to capitalize on global growth opportunities, delivering unmatched value to their customers while driving innovation and performance improvements across the source-to-pay ecosystem.”

To learn more about the Unimarket + VendorPanel merger, visit: https://www.unimarket.com/bestofbreed

About Unimarket 

Unimarket is a global provider of source-to-pay and spend management solutions. Turning chaos into clarity, Unimarket’s suite improves visibility, enables compliance, and eliminates maverick spending, transforming procurement processes. Trusted by industries including higher education, healthcare, government, research, and financial services, Unimarket delivers an integrated cloud-based solution covering sourcing, contracts, marketplace, purchasing, invoicing, payments and supplier management. To learn more, visit Unimarket.com.

About VendorPanel

VendorPanel is a leading source-to-contract procurement platform. Its cloud-based software is used by hundreds of governments and businesses to simplify procurement, reduce risk, and optimize outcomes at each stage of the procurement lifecycle. For more information, visit VendorPanel.com.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.

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INX Software and K2fly Join Forces to Become Mission-Critical Tech Powerhouse

AKKR Logo

Perth, Australia & Menlo Park, California, OCTOBER 8 — Accel-KKR  has acquired listed company K2fly and will combine the regulatory, compliance and disclosure tech business with workforce, safety, training and reporting business INX Software to create one of Australia’s largest providers of mission-critical software for high-risk industries.

The SaaS powerhouse will offer a suite of specialist software used by the mining and resource sector as well as other large, fast-paced, remote and complex operations in health, transport, energy & utilities, engineering, manufacturing and government. The deal reinforces Accel-KKR’s ongoing commitment in investing in best-in-class, enterprise-focused, vertical software providers in Australia.

INX CEO Marcus Ashby said the two Perth-based companies were a natural fit, with many clients in common and complementary software solutions.  K2fly, which supports mining operations in 900 locations in 62 countries, will bolster INX’s global regulatory compliance business, bringing software that addresses industry needs such as land and tailings management, environmental monitoring and rehabilitation, ground disturbance, land access planning and heritage. Its suite will complement INX Software’s portfolio of software solutions used by global companies to manage their workforce management, safety, compliance, training, and reporting requirements.

“The two companies share values and market outlooks, as well as a commitment to servicing some of the world’s biggest, most complex and fast-paced operations,” Mr Ashby said. “We both prioritise collaboration, integrity, and growth, providing a strong foundation for integration. K2fly’s additional values of customer focus and curiosity complement INX Software’s emphasis on accountability and innovation. Having a complementary set of values represents an excellent basis for creating a cohesive culture built on respect, innovative thinking and sustainable growth.”

K2fly CEO Nic Pollock said the two companies shared an understanding of the mining and resources sector with deep sector expertise in fast-paced, high-risk industries. “By combining our solutions, we can connect K2fly’s RegTech expertise, which helps clients navigate complex compliance obligations, with INX Software’s strengths in risk, logistics, planning and workforce management,” Mr Pollock said. “We are also excited about building on the mutual commitment of our companies to good environmental citizenship and ESG. Together, we can offer companies more robust, innovative solutions designed in concert with industry experts, along with specialist technology that helps identify, manage, mitigate and report on environmental risk.”

Dean Jacobson, Managing Director at Accel-KKR, said uniting the companies would allow the business to innovate, build and grow their markets by leveraging the teams’ collective strengths. “Current and target clients that INX and K2fly serve face increasingly stringent regulatory obligations for identifying, managing and reporting risk, and need a robust tech stack of vertical solutions,” Mr Jacobson said. “Leveraging the collective strength of INX and K2fly is a highly strategic response to the evolving compliance landscape to help clients stay ahead of enterprise risk and enable them to scale their businesses with confidence.”

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About INX Software

INX Software enables businesses in fast-paced and complex industries to mobilise their workforce and navigate health, safety and environmental challenges to better protect people and the planet.

Based in Perth, Western Australia, we are globally trusted leaders in the delivery of workforce management, environment, health and safety software solutions, supporting our clients in the operation of safer, smarter and sustainable workplaces. We provide solutions across industries, including resources, oil & gas, transport, energy & utilities, engineering, manufacturing and government sectors.

About K2fly

K2fly provides enterprise-level Resource Governance solutions for ‘net positive impact’ in Environmental, Social and Governance (ESG) compliance, disclosure and technical assurance, to operations of mining and asset intensive industries through its platform-based SaaS cloud solutions.

Its solutions address industry challenges and help manage risk around clients’ social licence to operate concerning reporting and governance, reputation and disclosure demands.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.

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Harmony Healthcare IT Announces Acquisition of Trinisys

Novacap

Novacap announces the successful acquisition of Trinisys by its portfolio company, Harmony Healthcare IT.

Trinisys, based in Nashville, Tennessee, is a leading force in legacy data management. The acquisition will amplify Harmony Healthcare IT’s ability to manage the vast volumes of data in the healthcare industry through the delivery of advanced enterprise solutions.

As a result of this strategic acquisition, Harmony Healthcare IT and Trinisys will combine their expertise and resources to offer significant advantages to their clients. These include:

  • Expanded capabilities: A wider range of services and solutions to address the diverse needs of healthcare organizations.
  • Enhanced innovation: Increased investment in research and development to drive industry-leading advancements.
  • Strengthened market position: A more powerful presence in the healthcare market, enabling the company to better serve its customers.
  • Improved efficiency: Streamlined operations and optimized workflows to increase velocity.

“We are proud to support Harmony Healthcare IT as it seeks to explore new data handling and data use innovations to accelerate growth and expand its impact in the healthcare industry, ” said David Brassard, Partner at Novacap.

“I want to express my appreciation to Novacap for their dedicated support throughout this transaction” shared Tom Liddell, CEO of Harmony Healthcare IT. “This transaction enables two data management leaders to unite and deliver unmatched value to healthcare customers through world-class enterprise solutions,” said Liddell.

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Edwin James Group rebrands as MARCH to fuel growth

Aliter Capital

 
 
 
 

Aliter Capital has welcomed the rebranding of Edwin James Group, the engineering services  business in its Aliter Capital II fund.

 

The transition to MARCH supports the company’s growth ambitions, simplifying its market presence under a unified identity, enhancing its ability to deliver a total engineering solution to customers in high-tech, complex, regulated environments.

 

The rebrand also consolidates the strengths of group companies under a single name and is designed to improve operational efficiency, simplify customer interactions and enhance market visibility; positioning MARCH for continued future growth, by presenting a clear, cohesive value proposition to customers and stakeholders.

 

Christopher Kehoe, CEO, MARCH said, “Edwin James Group was formed through the acquisition of ten specialist companies. As we look at the future of our industry, it’s clear that uniting under one name will enable us to fully harness our combined expertise, making it easier to offer customers the total engineering solutions they’re asking for in a simple, efficient, uncomplicated way. As MARCH we will continue to move industry forward and advance engineering as a core discipline vital to the economy.”

 

MARCH’s broader strategy is to become the UK’s most respected critical engineering services provider, with ambitions for European expansion.

 

Aliter continues to work closely with MARCH’s management team to support further organic growth and expansion, through the acquisition of additional, complementary businesses.

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KKR Acquires Leading Near-Airport Parking Provider, The Parking Spot, from Green Courte Partners

Green Courte Partners

New York, NY & Chicago, IL (October 8, 2024) – KKR, a leading global investment firm, today announced that KKR has acquired The Parking Spot (“TPS” or the “Company”), the nation’s leading owner and operator of near-airport parking properties, from an affiliate of Green Courte Partners, LLC, a private equity real estate investment firm. Financial terms of the transaction were not disclosed.

Founded in 1998, TPS is the preeminent provider of near-airport parking operations in the U.S., with 47 strategically located parking properties across the country servicing customers traveling from all major airports. Its facilities are designed to deliver convenient, affordable, and hassle-free transitions to and from airport terminals, and feature a range of parking options as well as reliable and recognizable shuttle services. TPS’s accomplished management team will continue to lead the Company.

“The Parking Spot has demonstrated a compelling track record of growth and delivery of a high-quality offering to travelers that aligns well with our investment philosophy,” said Dash Lane, Partner at KKR. “With its strong and established platform, well-known industry brand, and superior customer service, TPS is recognized as an industry leader. Above all, we are strong believers in the TPS management team and their vision, along with the employees who have contributed meaningfully to the Company’s success. We are eager to work with them to further build on their impressive performance and capitalize on the numerous growth opportunities that lie ahead.”

Braden Rudolph, Chief Operating Officer of Green Courte, said, “We are proud of Green Courte’s contributions to the TPS platform throughout our ownership period, during which we expanded TPS’s footprint through acquisitions and ground-up developments from a 17-property portfolio in 2011 to 47 facilities today. Through our strategic partnership with TPS, we developed proprietary technology and a data-driven platform to enhance TPS’s value proposition while the team continued to deliver best-in-class customer service. We look forward to furthering our strong relationship with TPS and KKR as we continue to own 15 near-airport parking facilities that are currently operated by The Parking Spot.  Green Courte remains committed to investment in the near-airport parking sector.”

“Today marks a significant milestone for The Parking Spot and reinforces our position as the premier choice for travelers seeking convenient and reliable near-airport parking. KKR’s industry knowledge and substantial resources will be instrumental as we continue to grow our core business and enhance our market leadership,” said Tim O’Malley, President and Chief Executive Officer at TPS. “We are also grateful to Green Courte for their unwavering support over the years, which has been fundamental to our success. Their strategic partnership has set the stage for this exciting new chapter with KKR.”

KKR made this investment through its Global Infrastructure Strategy. Morgan Stanley & Co. LLC served as financial advisor to KKR and Simpson Thacher Bartlett served as legal advisor to KKR. Evercore served as financial advisor to Green Courte and DLA Piper served as legal advisor to Green Courte.

 

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including active-adult/independent senior living properties, land-lease communities, near-airport parking facilities, and truck storage properties. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at www.GreenCourtePartners.com.

About The Parking Spot

As the nation’s leading near-airport parking company, with 47 convenient locations at 28 major U.S. airports, TPS makes airport travel simple and seamless. Friendly, courteous team members, outstanding value, an unmatched customer service commitment, and our industry-leading Spot Club loyalty program combine to ensure that TPS is the best part of our guests’ travel experience. For more information, please visit www.theparkingspot.com, or follow TPS on Instagram @theparkingspotofficial and on Facebook.

For media inquiries, please contact Marnie Helfand at (312) 966-4747 or MarnieHelfand@GreenCourtePartners.com

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KKR Acquires Leading Near-Airport Parking Provider, The Parking Spot, from Green Courte Partners

KKR

NEW YORK & CHICAGO–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired The Parking Spot (“TPS” or the “Company”), the nation’s leading owner and operator of near-airport parking properties, from an affiliate of Green Courte Partners, LLC, a private equity real estate investment firm. Financial terms of the transaction were not disclosed.

Founded in 1998, TPS is the preeminent provider of near-airport parking operations in the U.S., with 47 strategically located parking properties across the country servicing customers traveling from all major airports. Its facilities are designed to deliver convenient, affordable, and hassle-free transitions to and from airport terminals, and feature a range of parking options as well as reliable and recognizable shuttle services. TPS’s accomplished management team will continue to lead the Company.

“The Parking Spot has demonstrated a compelling track record of growth and delivery of a high-quality offering to travelers that aligns well with our investment philosophy,” said Dash Lane, Partner at KKR. “With its strong and established platform, well-known industry brand, and superior customer service, TPS is recognized as an industry leader. Above all, we are strong believers in the TPS management team and their vision, along with the employees who have contributed meaningfully to the Company’s success. We are eager to work with them to further build on their impressive performance and capitalize on the numerous growth opportunities that lie ahead.”

Braden Rudolph, Chief Operating Officer of Green Courte, said, “We are proud of Green Courte’s contributions to the TPS platform throughout our ownership period, during which we expanded TPS’s footprint through acquisitions and ground-up developments from a 17-property portfolio in 2011 to 47 facilities today. Through our strategic partnership with TPS, we developed proprietary technology and a data-driven platform to enhance TPS’s value proposition while the team continued to deliver best-in-class customer service. We look forward to furthering our strong relationship with TPS and KKR as we continue to own 15 near-airport parking facilities that are currently operated by The Parking Spot. Green Courte remains committed to investment in the near-airport parking sector.”

“Today marks a significant milestone for The Parking Spot and reinforces our position as the premier choice for travelers seeking convenient and reliable near-airport parking. KKR’s industry knowledge and substantial resources will be instrumental as we continue to grow our core business and enhance our market leadership,” said Tim O’Malley, President and Chief Executive Officer at TPS. “We are also grateful to Green Courte for their unwavering support over the years, which has been fundamental to our success. Their strategic partnership has set the stage for this exciting new chapter with KKR.”

KKR made this investment through its Global Infrastructure Strategy. Morgan Stanley & Co. LLC served as financial advisor to KKR and Simpson Thacher Bartlett served as legal advisor to KKR. Evercore served as financial advisor to Green Courte and DLA Piper served as legal advisor to Green Courte.

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. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Green Courte Partners, LLC

Green Courte Partners, LLC is a Chicago-based private equity real estate investment firm focused on building industry-leading companies within niche real estate sectors, including active-adult/independent senior living properties, land-lease communities, near-airport parking facilities, and truck storage properties. The firm combines focused investment strategies with a disciplined approach to transaction execution, operations, and asset management. Green Courte’s goal is to invest in high-quality real estate assets that will generate attractive risk-adjusted returns over a long-term holding period. For additional information, please visit Green Courte’s website at www.GreenCourtePartners.com.

About The Parking Spot

As the nation’s leading near-airport parking company, with 47 convenient locations at 28 major U.S. airports, TPS makes airport travel simple and seamless. Friendly, courteous team members, outstanding value, an unmatched customer service commitment, and our industry-leading Spot Club loyalty program combine to ensure that TPS is the best part of our guests’ travel experience. For more information, please visit www.theparkingspot.com, or follow TPS on Instagram @theparkingspotofficial and on Facebook.

KKR
Liidia Liuksila
(212) 750-8300
media@kkr.com

Green Courte Partners
Marnie Helfand
(312) 966-4747
marniehelfand@greencourtepartners.com

Source: KKR

 

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EQT to successfully acquire OX2, one of Europe’s leading renewable energy developers

eqt

Picture

OX2 is a leading renewable energy platform with a large and diverse project portfolio across all major technologies, including onshore and offshore wind, solar, and storage

• EQT expects to see continued significant growth in the renewables market over the coming years, driven by trends including decreasing technology costs and growing demand for green electricity

• EQT will apply its extensive experience investing in the energy transition and the renewables landscape to help OX2 become an integrated renewables developer and asset owner

 

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”), through the investment vehicle Otello BidCo AB, has successfully completed its recommended public offer for OX2 AB (“OX2” or the “Company”).

On 13 May 2024, Otello BidCo AB announced a recommended public offer for 100 percent of OX2’s shares at a price of SEK 60 in cash per share (the “Offer”). After the end of the extended acceptance period on 7 October 2024, Otello BidCo controls 269,282,357 shares in OX2, corresponding to 98.81 percent of the shares and votes in OX2. Settlement for shares tendered in the Offer during the extended acceptance period will begin around 16 October 2024. OX2 has applied for delisting from Nasdaq Stockholm which is expected to complete on 21 October.

OX2 is a renewable energy platform with a large and diverse project portfolio across all major technologies, including onshore and offshore wind, solar, and storage. Founded in 2004, the Company has grown into a leading independent renewable energy developer in Europe and beyond. Headquartered in Stockholm, Sweden, the Company is present in 11 markets across Europe and established a presence in Australia in 2023. The Company has a strong operational and financial track record and a robust set of capabilities across the value chain, including development, construction, and management.

To maintain and grow its market position, capitalize on emerging opportunities and strengthen its presence within renewable energy in the long term, EQT will support OX2 to evolve its business model from a pure developer to an integrated renewables developer and asset owner, while retaining its ability to sell projects. EQT will leverage its extensive experience investing in the renewables sector and in the energy transition broadly to support the company’s transformation and plans to provide additional investment in OX2’s pipeline.

Christoph Balzer, Partner in the EQT Infrastructure Advisory Team, said: “There is a tremendous need for infrastructure investment if the world is to achieve net zero and power new electricity demand ranging from data center infrastructure to the electrification of industries. OX2 is an impressive platform with strong growth potential, and we are excited to partner with the Company to accelerate its growth to become an integrated renewables developer and asset owner.”

With this transaction, EQT Infrastructure VI is expected to be 45-50 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

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

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

 

About EQT

EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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