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Ardian, with Prelios SGR, closes the sale of Deloitte’s headquarters in Via Vittorio Veneto, in the heart of Rome’s historic centre, to Deka Immobilien, acting via an Italian real estate fund managed by IQ EQ

Ardian

The building, designed in 1928 by architect Carlo Broggi and the former headquarters of IRI and Fintecna, has undergone a major redevelopment creating a state-of-the-art building for the city of Rome which meets the highest international standards, both in terms of technology and ESG characteristics.
• The building is Deloitte’s Rome headquarters, and brings together 2,600 people who used to occupy several offices across the city. Amazon also chose the property in via Veneto for its headquarters.

Ardian, a world-leading private investment house, and Prelios SGR, one of Italy’s leading real estate and asset management companies, today announced the sale of an historic office building located in Via Vittorio Veneto 89 in Rome. The buyer is Deka Immobilien, one of Europe’s leading real estate investment companies active in Europe.

The building at 89 Via Vittorio Veneto is home to Deloitte’s new Rome headquarters, which opened on 16 January 2024. It is a 23,000 square meter building designed in the 1920s by architect Carlo Broggi and reinterpreted by Studio Scandurra after a two-year redevelopment. It also houses Amazon across 2,800 square meters.

The project aims to combine both the functionality expected from a modern building with the classicism of the Roman tradition, following the same ideals that inspire the Studio in all its urban regeneration projects.

Studio Scandurra aimed to create open and permeable spaces, redefining the connection between space and the individual to provide stimulating work environments, and reimagining the building’s connection with the city, which actively interacts with the interior space. The building now creates an opportunity for interaction and sharing in the workplace. This includes the renovation of panoramic terraces, offering unique views of the city, as well as spaces for collaboration and informal work.

The impressive redevelopment plan carried out by Ardian saw the building become one of the few in Rome to obtain three ESG certifications: LEED, BREEAM and WELL. These certifications reflect not only the building’s energy efficiency and environmental sustainability credentials, but also recognized it for promoting the highest standards of health and well-being in workplaces. As a result of the careful and extensive redevelopment works, the building already complies with the ambitious targets set by the Paris Agreement in terms of CO2 emissions, despite its age.

“Deloitte’s decisions to consolidate its Roman offices in Via Veneto demonstrates once again that only quality buildings which meet the highest standards are able to attract both international companies as tenants, and investment from institutional players. The transformation of our cities’ real estate assets into green buildings will be the key to market recovery, both for the office and the living sectors. Ardian has made this philosophy its main strategy in Italy and in the other European countries in which it invests”. Rodolfo Petrosino, Head of Real Estate Southern Europe, Ardian

“We truly are proud of this transaction, which comes at a time of transition in the market, and which demonstrates the great asset management skills of our team. Through this extraordinary project, Ardian’s real estate team has been able to transform a historic property, to create a unique asset in Rome in terms of both sustainability and innovation. The acquisition of this beautiful building by an institutional investor such as Deka is an excellent sign for the market, confirming that high quality buildings in central locations and with the highest ESG characteristics continue to attract liquidity”. Matteo Minardi, Head of Real Estate Italy, Ardian

“We are particularly pleased with this transaction, which gives a signal of strong resilience to the general downturn in the real estate sector, as well as to the Rome and office market. It is a confirmation of how an excellent location, high product quality, full alignment with sustainability principles and a traditional asset class are the right ingredients to attract a major international investor. This transaction further consolidates Prelios SGR’s presence in value added transactions”. Patrick Del Bigio, CEO, Prelios SGR

As part of the transaction, DILS acted as commercial advisor.

Ardian and Prelios SGR were assisted by Apollo & Associati as legal advisor, Fivelex as tax advisor and Perelli Consulting for technical and project management aspects.

Deka’s Italian real estate fund was assisted by Bertacco Recla & Partners as legal advisor, Bureau Plattner as tax advisor, Drees & Sommer as technical advisor and Cushman & Wakefield as commercial advisor.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 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 PRELIOS SGR

Prelios SGR is a company in the Prelios Group and one of Italy’s largest asset managers, with assets under management of approx.€ 8 billion.
It is active in the promotion, creation and management of real estate alternative investment funds (AIFs) and credit funds, advisory and separate account management, for leading Italian and international institutional investors. Prelios SGR is a pioneer in the innovation of investment products, as regards both asset classes and typologies. It set up one of the first externally managed SICAFs and manages the largest UTP fund in Italy and one of the largest in Europe. Prelios SGR has established high standards and control systems for governance, risk management and transparency, while maintaining high operating flexibility. Reflecting its commitment to promoting sustainability, the company is a member of the UN PRI – Principles for Responsible Investment network and of GRESB.

prelios.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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AURELIUS Finance Company provides GBP 18.5m Refinancing Facility to Trutex Limited

Aurelius Capital

London, February 27, 2024 – AURELIUS Finance Company, the Private Debt segment of AURELIUS, announces the successful provision of a GBP 18.5m refinancing facility to Trutex Limited, one of the UK’s oldest and best-loved schoolwear producers. The financing facility comprises:

  • A GBP 15m revolving asset-based loan, designed to generate the maximum liquidity by leveraging Trutex’s inventory and receivables
  • A GBP 3.5m cashflow loan, structured as a fully revolving, seasonal swing-line RCF

Trutex has a history of over 150-years supplying quality school uniforms to thousands of specialist retailers, distributors and schools throughout the world. It is a strongly performing business with an established market position, producing premium garments that are high-quality, and long-lasting. The facility will maximise working capital headroom over the course of the school year, supporting the business in building its order book ahead of peak trading periods.

Commenting on the deal, Matthew Easter, Group CEO at Trutex Limited, said: “AURELIUS Finance Company took the time to understand our business and its specific requirements right from the outset. By having their senior team involved from our very first meeting, they were able to structure a bespoke facility at pace, and this will now enable us to deliver on our growth plans; both domestically and overseas.”

“We realise that not all businesses have a uniform working capital requirement, and so our completely bespoke structure is designed to flex and deliver the optimum amount of working capital headroom at key points throughout the year. This shows the role which non-traditional lenders, such as AURELIUS Finance Company, can play in making available financing for companies which despite being strong performers, can often lack access to a stable source of working capital all year round” said James Marler, Director and Head of New Business at AURELIUS Finance Company. “And despite this tailored structure, we were able to utilise our institutional funding lines to provide a very competitively priced facility.”

As Andy Ducker, Chairman and majority shareholder, acknowledges, “AURELIUS Finance Company’s ability to provide a mix of ABL and senior cashflow lending was critical to delivering this successful outcome.”

AURELIUS Finance Company was advised by Squire Patton Boggs (Legal) and Hilco (Collateral Diligence). Trutex were further advised by Alvarez & Marsal (Debt Advisory) and Walker Morris (Legal).

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Ratos company Speed Group achieves climate neutrality in 2023 – two years ahead of target

Ratos

Speed Group (Speed) achieved its goal of becoming climate neutral in its own operations in 2023. Through a combination of large-scale initiatives and small changes, the company has made great strides towards reducing its carbon footprint and thus contributing to a more sustainable future.

Speed Group’s target was to become climate neutral by 2025. This target was reached ahead of schedule in 2023. The company has been actively working to reduce its carbon footprint for many years.

A central part of this effort has been the installation of the largest rooftop photovoltaic system in the Nordic region on the roof of its head office and warehouse in Borås. The rooftop facility, with a maximum electricity production capacity of 4GWh, has been a key factor in the company’s success in achieving climate neutrality. However, large-scale projects were not the only factors contributing to the company’s achievement of its target. Smaller changes in everyday operations also played a role. Some examples include weatherproofing cargo doors, switching to digital delivery notices, and reducing the use of shrink wrap.

“Speed Group’s journey towards climate neutrality in its own operations is inspiring. Assuming responsibility for your carbon footprint is an important aspect of developing existing and new customer relationships and business. This is important today and will become even more significant in the future,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

“We are incredibly proud to have achieved our climate neutrality target two years ahead of schedule. It’s a challenge for a logistics company like ours, but we’ve focused hard on reducing our environmental impact and driving positive change. We continue to strive to be a leader in sustainability and look forward to continuing to make a difference for our planet and society,” says Jesper Andersson, CEO of Speed Group.

Speed Group’s efforts to reduce its climate impact are continuing. The next step will involve installing additional solar panels at other Speed Group sites and investing in battery storage solutions and charging infrastructure for tomorrow’s freight transport.

About Speed Group
Speed offers sustainable, flexible and innovative solutions to complex logistics and staffing challenges. Speed has its head office in Borås, Sweden, and logistics centres in Borås, Gothenburg, Stenungsund and Stockholm covering a combined total of more than 220,000 square metres. The company has sales of SEK 1 billion and approximately 1,000 employees.

For further information, please contact:
Josefine Uppling, VP Communication & Sustainability, Ratos, +46 76 114 54 21
Jesper Andersson, CEO, Speed Group, +46 708 16 68 37

About Ratos
Ratos is a Swedish business group focusing on technology and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and consumer. The companies have approximately SEK 34 billion in net sales (LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

Categories: News

Kinnevik agrees to sell its entire shareholding in Tele2 to an investment vehicle jointly controlled by iliad and NJJ

Kinnevik
Kinnevik AB (publ) (“Kinnevik”) today announced that it has agreed to sell its entire shareholding in Tele2 AB (publ) (“Tele2”) to Freya Investissement, an investment vehicle jointly controlled by the European telecommunications group iliad and its Chairman and founder Xavier Niel through NJJ Holding (“iliad/NJJ”) for a total consideration of SEK 13bn. The shareholding in Tele2 will complement iliad/NJJ’s existing European telecommunications operations across France, Italy, Poland, Switzerland, Monaco, Ireland, Cyprus and Malta. The transaction will be completed in three steps with a first close of SEK 2.9bn. The two remaining steps are subject to iliad/NJJ receiving necessary regulatory clearances and in relation to the third step also to iliad/NJJ reclassifying Tele2 Class A shares to Class B shares to the effect that iliad/NJJ following completion of the transaction will hold less than 30 percent of the voting interest in Tele2.

Kinnevik has agreed to sell its entire shareholding in Tele2 consisting of 20.7 million Class A shares and 116.9 million Class B shares to iliad/NJJ. Proceeds amount to a total of SEK 13bn, corresponding to SEK 93.0 per Tele2 Class B share and SEK 101.0 per Tele2 Class A share, an average blended purchase price of SEK 94.2 per Tele2 share that implies a 13 percent premium in relation to the closing price of the Tele2 Class B share on Nasdaq Stockholm as per 23 February 2024.

The transaction will be completed in three steps:

1.    iliad/NJJ will acquire 31.3 million Class B shares in Tele2. After completion of this first step iliad/NJJ holds 4.5 percent of the economic interest and 3.5 percent of the voting interest in Tele2. Proceeds to Kinnevik in this first step amount to SEK 2.9bn.

2.    iliad/NJJ will acquire 14.2 million Class A shares and 85.5 million Class B shares in Tele2 following foreign direct investment clearances in Sweden, Latvia and Lithuania, which are expected to be received during the second quarter of 2024. After this second step, iliad/NJJ will hold 18.8 percent of the economic interest and 28.8 percent of the voting interest in Tele2. Proceeds to Kinnevik in this second step amount to SEK 9.4bn.

3.    iliad/NJJ will acquire Kinnevik’s remaining 6.5 million Tele2 Class A shares after receipt of necessary regulatory clearances, and subject to reclassifying Tele2 Class A shares into Class B shares to the effect that iliad/NJJ following completion of the transaction will hold less than 30 percent of the voting interest in Tele2. Such clearances and reclassification are expected to be received and completed during the third quarter of 2024. After this third step, iliad/NJJ will hold 19.8 percent of the economic interest and less than 30 percent of the voting interest in Tele2. Proceeds to Kinnevik in this third step amount to SEK 0.7bn.

As a result of the transaction, Kinnevik’s cash position will be significantly strengthened, and Kinnevik’s Board of Directors will undertake a capital structure review in consultation with major shareholders.

Georgi Ganev, CEO of Kinnevik, commented: “Through this transaction, Tele2 gains a new lead shareholder in the combination of iliad and NJJ, with a longstanding track record in the European telecoms sector as an early pioneer in France and as a business builder at scale across multiple European markets. Founded by Jan Stenbeck in the early 1980’s, Tele2’s strong value creation has been instrumental in building the Kinnevik of today, fuelling its historic dividend flow to shareholders as well as Kinnevik’s strategic pivot into a leading European growth investor for which we are proud and grateful.”

Georgi Ganev continued: “After completion of this transaction, Kinnevik will hold a very strong net cash position. We will deploy the capital with patience and focus to bring further clarity to our equity story and value creation to our shareholders. We will continue executing on our priority to concentrate our portfolio towards our most promising and resilient companies, and review our capital structure in consultation with major shareholders.”

Thomas Reynaud, Group CEO of iliad and director of Freya Investissement, commented: “The iliad Group and the Tele2 Group have a lot in common. We both believe in the power of innovation and the importance of an entrepreneurial mindset. Our business sector in Europe is highly demanding. So, we have a great deal of respect for what Tele2’s shareholders, management and teams have achieved, and we’re delighted that Kinnevik has chosen Freya as Tele2’s new reference shareholder. We look forward to contributing to the next chapter of Tele2’s growth story.”
This communication contains certain forward-looking statements concerning our intentions, beliefs or current expectations. Such statements are identified by including terms such as “intent”, or similar expressions. Such statements are subject to a number of important risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements. Factors, including risks and uncertainties, that could cause these differences include, but are not limited to: market growth and volatility and regulatory changes and developments. Any forward-looking statements speak only as of the date hereof. Neither Kinnevik nor Tele2 undertake any obligation to update any forward-looking statements.

This information is information that Kinnevik AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (596/2014). The information was submitted for publication, through the agency of the contact person set out below, at 2024-02-26 07:45 CET.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik’s ambition is to be Europe’s leading listed growth investor. We back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthcare, software, marketplaces and climate tech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe and the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Renta Acquires Rondellen

IK Partners

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Näs Rondellen AB (“Rondellen” or “the Company”). Rondellen is a Swedish general rental company operating in the greater Gothenburg area. The Company also provides traffic safety solutions to its customers. The Company has four depots, more than 45 employees and annual revenues of more than SEK 130 million.

With the acquisition Renta further strengthens its position in the greater Gothenburg area. Rondellen complements Renta’s geographical presence and adds to Renta’s capabilities in the region within infrastructure customers and in traffic safety solutions. The Company has a solid profitability and enjoys a good reputation among its customers. As part of Renta, Rondellen will continue to serve its customers with the same high-quality services as before and further benefit from leveraging Renta’s full product range and from implementing Renta’s digital solutions.

The acquisition is expected to be completed in March 2024.

Kari Aulasmaa, CEO of Renta Group, said: “The acquisition of Rondellen marks a continuation of our strategic agenda to build nationwide rental networks in our core markets. Rondellen is an excellent fit to Renta thanks to its complementary presence around Gothenburg and its capabilities in traffic safety. With the acquisition Renta’s position in the region will be further strengthened. We are very pleased to join forces and look forward to working together with the professionals of Rondellen. “

Samuel Lundberg, CEO of Rondellen, said: “We are excited about becoming a part of Renta, a company that shares our ambition to grow and develop the business further. Joining forces with Renta will extend our product offering to site modules, tunnelling equipment and pumps, enabling us to serve our customers with a broader offering than before. In addition, our customers will benefit from the digital solutions that Renta has developed, such as Renta Easy. I am confident that Renta will provide a good home for our employees, and that we will together be able to accelerate growth in the region.”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. The Company has operations in Denmark, Sweden, Norway, Denmark, Poland, and the Baltics, with 175 depots and more than 2,000 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a significant supplier of scaffolding and weather-protection services. For more information, visit www.renta.com

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About Rondellen

Näs Rondellen AB is a Swedish general rental company, founded in 2011. The Company has four depots located in Landvetter, Kinna, Varberg and Partille. For more information, visit https://rondellenmaskin.se/

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KKR To Acquire Broadcom’s End-User Computing Division

KKR

MENLO PARK, Calif.–(BUSINESS WIRE)– KKR today announced the signing of a definitive agreement with Broadcom Inc. (NASDAQ: AVGO) to acquire its End-User Computing Division (the “EUC Division”) in a transaction valued at approximately $4 billion. Upon closing of the transaction, the EUC Division will become a standalone company, with greater access to growth capital and a dedicated strategic focus on empowering customers and partners worldwide with innovative digital workspace solutions.

Originally a division of VMware prior to Broadcom’s acquisition, the EUC Division provides a leading suite of digital workspace solutions that allow organizations to securely deliver and manage applications, desktops and data across any device or platform. Its flagship products include Horizon, a leading desktop and application Virtualization platform, and Workspace ONE, a marquee Unified Endpoint Management (“UEM”) platform for the enterprise, along with common platform services of data, identity and workflows. The EUC Division leverages advanced data and intelligence in order to drive greater scale, speed and effectiveness for today’s modern, digital workspace.

“Workspace ONE and Horizon are best-in-class platforms chosen by many of the world’s leading enterprises to create seamless and secure digital workspaces with interoperability across increasingly complicated technology stacks,” said Bradley Brown, Managing Director at KKR. “We see great potential to grow the EUC Division by empowering this talented team and investing in product innovation, delivering excellence for customers and building strategic partnerships.”

As a standalone company, the EUC Division will continue to be run by its existing management team led by Shankar Iyer. In addition to expanding R&D and pursuing new strategic partnerships, KKR plans to support the EUC Division’s focus on customer relationships through significant investments across go-to-market functions. The standalone business will be positioned to make long-term investments in resourcing for customer success, partner support and an expanded, dedicated sales team.

“We are confident that this pending transaction marks an exciting next chapter for the EUC Division and one that will create enormous opportunities and benefits for our customers, partners and employees,” said Shankar Iyer, Senior Vice President and General Manager, End-User Computing Division, Broadcom. “The KKR team knows our industry well and is the ideal strategic partner to help us become a standalone company with an exclusive focus on delivering powerful tools for the digital workspace.”

“EUC is a leader within large, high growth categories and demand for the business’s marquee offerings continues to grow as the workplace and the needs at the front-line evolve rapidly,” said John Park, Partner at KKR. “We are excited to deploy our experience and toolkit at KKR to back a world-class company in its next chapter as a standalone business, with accelerated investment and a continued focus on product and customer-centricity.”

After becoming a standalone company, the EUC Division will implement KKR’s broad-based employee ownership program, which makes all employees owners in their respective businesses alongside KKR. This strategy is based on the belief that employee engagement and a strong ownership culture are key drivers in building stronger companies. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-senior management employees across more than 40 portfolio companies.

KKR is making its investment primarily through its North America Fund XIII. The transaction is expected to close in 2024, subject to customary closing conditions, including regulatory approvals.

Evercore, Deutsche Bank Securities Inc. and Jefferies LLC are acting as financial advisors and Simpson Thacher & Bartlett LLP is acting as legal advisor to KKR. Citi is serving as exclusive financial advisor to Broadcom.

About End-User Computing (EUC) Division

End-User Computing Division is the digital work platform leader, trusted by thousands of organizations worldwide as the former VMware EUC business. The EUC digital work platform unifies, automates, and efficiently scales the digital workspace. The intelligence-driven platform enables IT to deliver a secure and productive experience for all employees, across their devices, efficiently at scale. By empowering employees to do their best work, anywhere, we help workforces everywhere unlock exponential business value.

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.

Media
Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

 

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Ontario Teachers’ and Nordic Capital to invest together in Advanz Pharma to drive future growth

Nordic Capital
  • The joint investment will foster future growth and innovation in the near-and long-term
  • During Nordic Capital’s ownership to date, Advanz Pharma has transformed into a leading European specialty pharmaceutical platform

 

Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), a leading global institutional investor, and Nordic Capital, one of the most active and experienced investors in healthcare globally, have agreed to jointly invest in Advanz Pharma (“Advanz”), a global pharmaceutical company, to support Advanz’s development and further fuel its strong growth potential in the years to come.

Advanz is a global pharmaceutical company with a strategic focus on specialty, hospital and rare diseases pharmaceuticals. It has commercial sales in more than 90 countries globally with a direct presence in key countries in Europe, the US, Canada, and Australia, and a Centre of Excellence for business support in Mumbai, India.

Advanz’s product portfolio and pipeline comprise innovative medicines, specialty generics & biosimilars and originator brands. Advanz addresses a broad range of therapeutic areas, including hepatology, gastroenterology, anti-infectives, critical care, endocrinology, CNS, and, more broadly, rare diseases. Following Nordic Capital’s initial investment in 2021, Advanz scaled its European presence significantly and built a strong pipeline including innovative rare disease medicines and biosimilars.

Jean-Charles Douin, Senior Managing Director and co-Head of EMEA Private Capital at Ontario Teachers’, said: “Advanz aligns well with our strategy of backing proven management teams in businesses with strong growth potential. With speciality pharmaceuticals a key area of focus for us in healthcare, we look forward to working together with Nordic Capital and the Advanz management team to support its existing and future pipeline, and drive innovation and growth across its global platform.”

Rainer Lenhard, Partner, Nordic Capital Advisors added: “We are excited for Nordic Capital to continue its investment in Advanz together with Ontario Teachers’. This joint investment will support Advanz’s continued development in the years to come and allow the company to continue to scale its business model further and build on the market dynamics in its segment.”

Raj Shah, Partner and Head of Healthcare, Nordic Capital Advisors commented: “During Nordic Capital’s ownership, Advanz has been transformed into a leading European specialty pharma platform by building a best-in-class infrastructure and successfully launching pipeline products during the last few years, enabling future growth in innovative medicines, and a strong track-record of executing on M&A opportunities.”

Steffen Wagner, CEO, Advanz Pharma said: “We are excited to continue our growth journey together with Nordic Capital and Ontario Teachers’. To have them jointly backing our growth ambitions validates our strategy, the capabilities of our team, and increases the positive impact we can deliver for patients.”

Nordic Capital initially invested in Advanz Pharma in 2021 and will now invest via Nordic Capital XI, following the exit of its initial investment through Nordic Capital X.

Terms of the transaction were not disclosed, and the investment is subject to regulatory approvals.

Private Capital at Ontario Teachers’ has over C$60bn of assets globally and uses its deep industry expertise and global network to make control or co-control investments in focus sectors. With a dedicated global healthcare team, Ontario Teachers’ has deployed over C$5bn across 16 healthcare investments in its private capital portfolio, focusing on investments in life sciences, pharmaceutical services, medtech, and healthcare service providers.

Nordic Capital has assets under management of €30bn and invests in selected sectors and companies in Northern Europe and North America, offering partnership, deep sector knowledge, capital and experience to drive sustainable growth. It is one of the most active investors in healthcare globally, focusing on investing in in companies within Medtech, Pharma, Care services and Healthtech. To date, Nordic Capital has made 35 healthcare platform investments and has in total deployed €9.3bn of equity capital in the sector.

 

 

Contact Details

Ontario Teachers’
Henrietta Dehn
Email: Henrietta_dehn@otpp.com
Tel: +44 7407 795 960

Kekst CNC
Email: otpp@kcnc.com

Nordic Capital
Katarina Janerud, Communications Manager,
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Ontario Teachers’ 

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is a global investor with net assets of $249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Toronto, London, Hong Kong, Singapore, Mumbai, San Francisco, New York, Dallas, and São Paulo, our more than 400 investment professionals bring deep expertise in a broad range of sectors and industries. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.


About Nordic Capital

Nordic Capital is a leading sector-specialised private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested EUR 23 billion in 140 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

 

About Advanz Pharma

Advanz Pharma is a global pharmaceutical company with the purpose to improve patients’ lives by providing and enhancing the specialty, hospital, and rare disease medicines they depend on. Our headquarters are in London, UK. We have commercial sales in more than 90 countries globally and have a direct commercial presence in more than 20 countries, including key countries in Europe, the US, Canada, and Australia, a Centre of Excellence in Mumbai, India, as well as an established global distribution and commercialisation partner network. Advanz’s product portfolio and pipeline comprise innovative medicines, specialty generics & biosimilars, and originator brands. Our products cover a broad range of therapeutic areas, including hepatology, gastroenterology, anti-infectives, critical care, endocrinology, oncology, CNS, and, more broadly, rare disease medicines. Our ambition is to be a partner of choice for the commercialisation of specialty, hospital, and rare disease medicines in Europe, Canada, and Australia. In line with our ambition, we are partnering with biopharma and development companies to bring medicines to patients. We can only achieve this due to our dedicated and highly qualified employees, acting in line with our company values of entrepreneurship, speed, and integrity. For more information, please visit https://www.advanzpharma.com

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Åsa Zimmerman appointed as new CEO at Plint

Priveq

Plint is pleased to announce the appointment of Åsa Zimmerman as its new CEO, effective April 1, 2024. With a wealth of experience and a profound understanding of Plint’s values and culture, Åsa has been an integral part of the company since its inception in the early 2000s. Having served in various key roles, including Head of Production and Chief Operating Officer, Åsa’s journey at Plint exemplifies her dedication and significant contributions to the company’s growth and success.

More information can be found at Plint’s website.

For further information, please contact

Louise Nilsson
Partner & CEO
Phone: +46 8 459 67 63
Mobile: +46 70 950 95 50
Email: louise.nilsson@priveq.se

Categories: People

Levine Leichtman Capital Partners Acquires USA Water

Levine Leichtman

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has acquired USA Water (the “Company”) from Warren Equity Partners in partnership with management. Financial terms of the transaction were not disclosed.

Headquartered in Rosenberg, Texas, USA Water is a leading provider of operations and maintenance (“O&M”) services for water and wastewater systems across the Southeast United States. The Company’s non-discretionary services enable municipalities and utility districts to entrust their water infrastructure maintenance, asset management, and regulatory compliance needs to a professional partner of scale. USA Water’s industry-leading technical expertise and comprehensive service offering play a critical role in ensuring the integrity, safety, and reliability of clean, high-quality water access.

“We are delighted to partner with USA Water, one of the leading O&M providers of water infrastructure services,” said Matthew Rich, Partner at LLCP. “USA Water has built a stellar reputation due to its ‘customer first’ culture and best-in-class service capabilities, which have driven an incredibly loyal client base and a long-term track record of consistent growth. We are excited to work with Jeff and the USA Water team to broaden the Company’s service capabilities and geographic footprint through both organic initiatives and strategic acquisitions.”

USA Water will continue to be led by CEO Jeff Haley and the existing executive team, who will maintain significant equity ownership in the Company alongside LLCP.

“I am thrilled that USA Water is joining forces with LLCP as we embark on our next chapter of growth,” said Mr. Haley. “LLCP has an established track record as an excellent partner to management teams, and we are eager to leverage their deep industry knowledge and operational expertise in order to deliver more value to our customers through our essential services.”

Across its funds, LLCP has invested extensively in the technical and route-based services sectors, including Encore Fire Protection, Technical Safety Services, Trinity Consultants, In-Place Machining, and Select Exterminating.

LLCP was advised by Kirkland & Ellis LLP. USA Water was advised by Harris Williams and Holland & Knight LLP.

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Levine Leichtman Capital Partners Welcomes Back Jarett Moyse as Managing Director

Levine Leichtman

Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Jarett Moyse has rejoined the firm as a Managing Director. Mr. Moyse will focus on originating, executing and managing investments. Mr. Moyse was previously an investment professional with LLCP from 2016-2020 and brings over a decade of investing experience. He will be based in LLCP’s Los Angeles office.

Prior to rejoining LLCP, Mr. Moyse served as a Principal with a multi-strategy private investment firm, where he was responsible for all aspects of business development, investing, portfolio management and firmwide operations. His extensive background also includes investing roles with GI Partners, a private equity firm, and Pacific Creek Capital Partners, a credit-oriented hedge fund. He began his career at UBS Investment Bank in San Francisco as a member of the Leveraged Finance & Financial Sponsors group.

Michael Weinberg and Matthew Frankel, Managing Partners of LLCP, jointly commented, “We are thrilled to welcome Jarett back to the LLCP team. He has proven himself at LLCP in the past, and his wealth of experience – much of it homegrown here at LLCP – will no doubt support LLCP’s continued success.”

Mr. Moyse added, “LLCP has built a longstanding, differentiated platform and has a thoughtful approach to building partnerships, all of which compelled me to return to the firm. I am excited to contribute to this dynamic, talented, and experienced team of dedicated professionals, and look forward to leveraging my experience to further develop the firm’s position in the market.”

Mr. Moyse is a graduate of NYU’s Stern School of Business, and hails originally from Montreal, Canada.

 

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of investing across various targeted sectors, including Franchising & Multi-unit, Business Services, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by 10 partners who have worked at LLCP for an average of 19 years. Since inception, LLCP has managed approximately $14.2 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $10.2 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, The Hague and Frankfurt

Categories: People