Archives

Aretum Announces Acquisition of Artemis Consulting

Renovus

Bethesda, MD, August 21, 2023 – Aretum, LLC today announced that it has acquired Artemis Consulting, Inc. (“Artemis”), a McLean, VA-based prime contractor to multiple federal agencies. Aretum, a leading mid-tier organization focused on providing management consulting, mission support and technology solutions primarily serves the Department of Defense, Department of Homeland Security and Federal Civilian agencies through a broad array of contracts, contract vehicles and talented resources. Aretum is a portfolio company of Renovus Capital Partners.

This addition expands Aretum’s ability to support its customers’ cloud enablement and enterprise-level modernization efforts while leveraging open-source technologies for cost effectiveness and using microservices to bolster reusable infrastructure. It also adds new capabilities in Scaled Agile software development, DevOps, open-source development and mobile application development.

Damian DiPippa, Aretum CEO, said, “We are excited to welcome the Artemis team to Aretum. Artemis expands and further diversifies our customer base with exquisite agile development capabilities that drives us up the technology stack.”

Amee Shah, CEO of Artemis, commented, “Aretum is a great cultural fit for our employees, and its strategic vision blends well with that of Artemis.” Rohit Gupta, Artemis Founder and President, added, “We are excited to bring our digital transformation, agile development capabilities and legacy systems modernization capabilities to Aretum to provide broader digital transformation expertise to its clients.”

“We are extremely excited about the complementary capabilities Artemis brings to the Aretum platform, and firmly believe the addition will help Aretum break new ground and add value to its unique suite of solutions and services to the agencies it serves,” said Manan Shah, Partner at Renovus.

About Artemis Consulting

Artemis Consulting is a Professional Services firm offering IT Technology and Management Services and Solutions to Federal and State Governments. For 24 years, Artemis has designed and developed software, and integrated systems that help drive digital transformation efforts for clients. They utilize DevSecOps principles and microservices approaches for scalability, security and reliability of systems and applications. Artemis is skilled in the modernization of legacy systems by creating open source and COTS applications and running them natively in the cloud. Artemis provides a full range of IT services to build scalable and resilient IT infrastructure for their customers.

About Aretum, LLC

Aretum is a leading government contracting company specializing in technology-enabled mission support services for the Department of Defense, Department of Homeland Security, and Federal-Civilian customers. ARETUM provides leading-edge solutions and services focusing on Next Generation Analytics, Engineering Services, Training Services, IT Services, Cyber Security, PMO Support, and Financial Consulting. Visit us at www.Aretum.com and follow us on LinkedIn.

 

Categories: News

Tags:

HBR Consulting, LAC Group, and Wilson Allen Relaunch as Harbor

Renovus

August 18, 2023 (Chicago, IL) – HBR Consulting, LAC Group, and Wilson Allen today announced the launch of Harbor, an expert services provider across strategy, legal technology, operations, and intelligence. Following the integration of the three companies and several key acquisitions, Harbor comes to market as a single entity serving law firms, corporations, and their law departments. With 650+ strategists, technologists, and specialists around the world, Harbor is unique in the depth, breadth, and scope of its expertise, as well as its focus on the legal industry. Harbor has also launched its new brand identity at its website, harborglobal.com.

“The legal industry is facing a period of complex change. Business and economic challenges have made it imperative that law firms and law departments operate as efficiently as possible, while investing in future growth. Technological advances such as generative AI and a rapidly evolving landscape of cloud applications have also presented new challenges as well as opportunities to get ahead of the competition,” said Matt Sunderman, CEO of Harbor.

“Our new company, Harbor, is dedicated to helping our clients address these challenges and navigate to a future in which they thrive. From business strategy and transformation, to intelligence, operations, expense optimization, and technology implementation, we bring world-class talent and insights to law firms, corporations, and their law departments, as an extended part of their teams,” Sunderman added.

Commitment to the Legal Industry

As a combined entity, Harbor serves more than 80% of Global 200 law firms, and 50% of the Fortune 500. The company has its global headquarters in Chicago and a significant presence across the United States, Canada, and the United Kingdom. Building on its 30+ year heritage, Harbor brings unparalleled expertise, knowledge, and scale as a services provider to the legal industry, as well as resilient connections throughout the legal ecosystem.

End-to-End Services

Harbor provides the essential resources and insights that help law firms, corporations, and their law departments drive strategic change, accelerate major initiatives, and increase resource effectiveness. The new company delivers integrated, end-to-end services, incorporating strategic advice, practical implementation, ongoing operational support, and intelligence.

As an example, many organizations today are grappling with how to formulate their strategies regarding advanced technologies such as generative AI. As part of a consulting engagement, Harbor experts can assess clients’ AI-readiness – the state of their data, where their data resides in the cloud and on premises, and the extent to which operational processes need to be optimized to have the greatest impact.

By providing intelligence on how major technology players in the legal ecosystem are incorporating AI, Harbor can also help firms define a strategy that will help to achieve their objectives. After working together to put the foundations in place, the Harbor team can implement and test use cases where AI offers the most potential from a business point of view.

Through its industry reports and community forums, Harbor encourages collaboration and knowledge exchange to move the legal industry forward across strategy, legal technology, operations, and intelligence.

Integration of Heritage Companies

The launch of Harbor as a new services provider is a new chapter for the three companies – HBR Consulting, LAC Group, and Wilson Allen – after starting their combination in late 2022. In early 2023, the company acquired Aurora North and Younts Consulting – teams specializing in legal tech applications and cloud migration. In July of this year, the company expanded again with the addition of business process automation and AI-focused contracts intelligence specialist KP Labs.

About Harbor

Harbor is the preeminent provider of expert services across strategy, legal technology, operations, and intelligence.

Our globally integrated team of 650+ strategists, technologists, and specialists navigates alongside our clients – leading law firms, corporations, and their law departments – to provide essential resources and invaluable insights.

Anchored in a rich heritage of deep knowledge, steadfast relationships, and mutual respect, our unwavering dedication lies in shaping the future of the legal industry, and fostering enduring partnerships within our community and ecosystem. www.harborglobal.com

Categories: News

KKR Expands Focus on Climate Investing with Key Appointments to Global Infrastructure Team

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that Charlie Gailliot has joined the firm as a co-head for the firm’s global climate strategy, rounding out a leadership team focused on climate-related investments as part of KKR’s infrastructure platform. Gailliot, who is based in New York, joins global climate co-head Emmanuel Lagarrigue, also based in New York, and Neil Arora, who leads the strategy in Asia and is based in Singapore.

“Since the launch of the KKR infrastructure platform 15 years ago, we have invested billions into renewable energy and climate solutions,” said Raj Agrawal, Partner, Head of Global Infrastructure. “However, transitioning to a low-carbon economy at the pace and scale needed requires trillions of dollars in investment, and we are still seeing a significant gap in climate funding. By forming a dedicated climate leadership team – leveraging Charlie, Emmanuel and Neil’s decades of expertise – we can sharpen our focus on the deployment and scaling of net-zero solutions and accelerate the transition of higher-emitting assets.”

Gailliot joins KKR after 20 years as a private markets investor at Goldman Sachs, where he most recently served as a Partner and head of the Energy Transition and the Diversified Industrials investment teams. Prior to joining KKR, Lagarrigue was an executive committee member at Schneider Electric, where he led the transformation of the company into a leader in energy management infrastructure, industrial software and sustainability services. Arora joined KKR from Macquarie where he was the head of the firm’s Green Investment Group for Asia-Pacific, with a focus on renewable energy asset development.

KKR has committed more than $40 billion to sustainability-focused investments, including $30+ billion to climate and environmental sustainability investments since 2010. Examples of the firm’s investments in the energy transition to date include multiple renewables-focused partnerships with NextEra Energy, a leading generator of energy from the wind and sun; Virescent Infrastructure, a renewable energy platform in India; and Viridor, a UK-based waste-to-energy company, among several others.

KKR first established its Global Infrastructure strategy in 2008 and has since been a leading global infrastructure investor with a team of more than 115 executives including approximately 90 investment professionals and an additional 25 dedicated value creation resources. The business is also supported by KKR’s centers of excellence, including, among others, KKR’s Sustainability Expert Advisory Council (SEAC), the KKR Global Institute, and KKR’s public affairs team of 30+ professionals globally helping with stakeholder management, sustainability, regulatory and public policy. The firm currently manages more than $54 billion in infrastructure and energy assets and has made over 75 infrastructure investments across a range of sub-sectors and geographies.

About Neil Arora

Neil Arora (Singapore) joined KKR in 2022 as a Partner on the Infrastructure team. Prior to KKR, Mr. Arora held a number of senior roles across multiple markets during his more than twenty-year career at Macquarie. Most recently, he was head of Macquarie’s Green Investment Group for Asia-Pacific leading a pan-Asia team with a focus on renewable energy asset development. Previously, Mr. Arora was head of the infrastructure and energy (IEG) group for Asia, a member of the investment committee of IEG and a member of Macquarie Capital’s global management committee. In 2011, Mr. Arora established a global energy logistics business in Singapore and completed principal transactions in the midstream energy space across Europe, Asia and Australia. He also previously headed up Macquarie Capital in the Middle East and spent four years as Head of Infrastructure for Asia in Singapore. Mr. Arora holds a BSc (Hons) in Actuarial Science from the London School of Economics and Political Science.

About Charlie Gailliot

Charlie Gailliot (New York) joined KKR in 2023 as a Partner and Global Co-Head of KKR Climate within the firm’s Infrastructure business. Previously, he was a Partner at Goldman Sachs, where he spent 20 years as a private markets investor in the Merchant Banking Division and subsequently the Asset Management Division. Most recently, Charlie was responsible for both the Energy Transition team and the Diversified Industrials team in New York. He was a member of the Investment Committees for Corporate Equity, Infrastructure, and Climate. He also served at various times as a member of the Sustainability Committee, the Diversity and Inclusion Committee, and the Physical Commodity Review Committee. Earlier in his career, he spent two years in Goldman’s Hong Kong office working on investments across Asia. Mr. Gailliot holds a degree in Economics with a certificate in Finance from Princeton University.

About Emmanuel Lagarrigue

Emmanuel Lagarrigue (New York) joined KKR in 2022 and is a Partner and Global Co-Head of KKR Climate within the firm’s Infrastructure business. Mr. Lagarrigue has a wealth of experience in sustainability, the energy transition and the transformation of large businesses. Prior to joining KKR, he was one of the founding partners of BeyondNetZero, a General Atlantic fund, focusing on growth equity opportunities in decarbonization technologies. Previously, Mr. Lagarrigue was an executive committee member at Schneider Electric, holding the positions of Chief Strategy, Chief Sustainability and Chief Innovation Officer. He also held several P&L and general management positions in Europe, South America, Asia and the United States over 20 years at the company. Mr. Lagarrigue serves on the Board of JBT Corporation and is the Chairman of the Board of Trustees of Menorca Preservation, an NGO dedicated to environmental causes in the Balearic Islands.

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.

Liidia Liuksila
212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

TPG Rise Climate Forms Strategic Partnership with KKR as New Majority Shareholder in A-Gas

KKR

LONDON, UK; SAN FRANCISCO, USA – August 17, 2023 – A-Gas, the global leader in the supply and lifecycle management of refrigerant gases, today announced that its owners, including majority owner KKR, have entered into a definitive agreement to sell a majority stake in the company to TPG Rise Climate, the dedicated climate investing strategy of TPG’s global impact investing platform, TPG Rise. KKR will remain a significant minority shareholder in the business, continuing to work in collaboration with TPG Rise Climate and the A-Gas Leadership Team. The transaction is expected to be completed by the end of 2023, subject to customary closing conditions, including certain regulatory approvals. Additional terms of the transaction were not disclosed.

“We are thrilled to be taking the next step of our sustainability journey, and to be further scaling our Lifecycle Refrigerant Management operations, with the backing of TPG Rise Climate,” said Jack Govers, Chief Executive Officer of the A-Gas Group. “We have a long history of being at the forefront of refrigerant gas recovery and reclamation, effectively lowering potential emissions to the atmosphere, and this investment from TPG is validation of our growth strategy and the quality of our products and services. We look forward to building on our success by executing a number of organic and inorganic growth initiatives.”

“We are also grateful for the value that KKR has delivered to our business. KKR’s support, funding, and global platform have enabled us to significantly accelerate our growth into new markets and geographies, while also developing new sustainability-driven capabilities, and building our market leadership. I am delighted that our people and our customers will continue to benefit from their support,” Govers added.

For over 30 years, through its first-class recovery and reclamation processes, A-Gas has been at the forefront of capturing refrigerant gas for future re-use or safe destruction, creating a closed-loop system that prevents its harmful release to the atmosphere. The company’s proprietary gas separation and recovery technology effectively abated approximately 8 million metric tonnes of CO2e in 2022, the equivalent to removing over 1.6 million cars from the roads for a year.

Over the past three decades, A-Gas has extended its market leadership into new growth verticals such as on-site Rapid Recovery of refrigerant gas, the safe destruction of legacy gases, and the generation of carbon credits. The company has also continued to significantly expand its global presence during KKR’s investment period, entering new markets across Europe, such as Germany, the Netherlands, and Italy, while substantially scaling the company’s operations in the US, entering Canada with the construction of a new refrigerant recovery and reclamation facility in Ontario, as well as expanding in Asia through the acquisition of a Japanese refrigerant reclamation and destruction company. Since KKR’s acquisition, which was made through KKR European Fund IV in 2017, A-Gas has grown revenue by 14% and EBITDA by 18% on average annually.

“Our investment in A-Gas is a thematic play on the increasing importance of establishing circular economies in critical industries. A-Gas’ highly differentiated gas recovery and reclamation technology closes the loop in the refrigerant gas lifecycle and thereby prevents the common venting of used refrigerant gases into the atmosphere at their end-of-life, which can have a Global Warming Potential that is several thousand times higher than that of emitting CO2,” said Joerg Metzner, Business Unit Partner at TPG Rise Climate. “A-Gas will play a leading role towards a more sustainable and circular refrigerant gas value chain globally as demand for refrigerants continues to grow and regulatory scrutiny and enforcement increase.”

Mattia Caprioli, Co-Head of European Private Equity at KKR, commented: “A-Gas plays a critical role in the circular economy for refrigerant gases, and in supporting environmental targets to fight climate change and global warming. We have been proud to work with Jack Govers and the A-Gas team over the past years, building market-leading capabilities for the recovery and reclamation of used gases, and positioning the business to benefit from future growth in gas reclamation and destruction opportunities globally. We believe the addition of TPG Rise Climate’s market expertise, particularly in the US carbon credit market, is a great fit for the future, and we look forward to working alongside Joerg, Jack and their respective teams to continue to build on A-Gas’s unique proposition globally.”

Citi acted as financial advisor to TPG in relation to the transaction. Goldman Sachs International acted as financial advisor to A-Gas and KKR, while Simpson Thacher & Bartlett acted as KKR’s legal advisor.

The transaction marks a full exit for minority investor, LDC, following a successful 12-year strategic partnership.

 

— ends —

 

About A-Gas Group

A‑Gas is the world leader in the supply and lifecycle management of refrigerants and associated products and services. Through our first-class recovery, reclamation, and repurposing processes, we capture refrigerants and fire protection gases for future re-use or destruction, preventing their harmful release into the atmosphere.

For over 30 years, A-Gas has supported our clients and partners on their environmental journey by supplying lower global warming gases and actively increasing the circularity of the industries we serve, building a sustainable future.

For more information, please visit www.agas.com.

 

About TPG Rise Climate

TPG Rise Climate is the dedicated climate investing strategy of TPG’s $18 billion global impact investing platform TPG Rise. TPG Rise Climate pursues climate-related investments that benefit from the diverse skills of TPG’s investing professionals, the strategic relationships developed across TPG’s existing portfolio of climate-focused companies, and a global network of executives and advisors. The fund takes a broad-based sector approach to investment types, from growth equity to value-added infrastructure, and focuses on climate solutions in the following thematic areas: clean electrons, clean molecules and materials, and negative emissions. Jim Coulter, TPG Founding Partner and Executive Chairman, serves as Managing Partner of TPG Rise Climate. Former U.S. Treasury Secretary Hank Paulson serves as TPG Rise Climate’s Executive Chairman.

For more information, please visit www.therisefund.com/tpgriseclimate

 

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:

 

A-Gas Group
Ken Logan
+44 7495 485356
ken.logan@agas.com

 

TPG
US
Ari Cohen
+1 415-743-1550
media@tpg.com

Europe
Michael Russell or Daniel Oliver
tpg@greenbrookadvisory.com

 

KKR
Annabel Arthur
+44 7554 919 491
annabel.arthur@kkr.com

Categories: News

Tags:

Jacob Lund joins Investor as Head of Corporate Communication & Sustainability

Investor

Jacob Lund, currently Head of Global Media Relations at AstraZeneca, has been appointed new Head of Corporate Communication & Sustainability and member of the Executive Leadership Team at Investor. Jacob has most recently worked for ten years at AstraZeneca where he has held several leading communication positions including Head of Chair Office, Head of Corporate Affairs Sweden & Nordics and Head of Corporate Affairs Global Sustainability. He has also been a member of AstraZeneca’s Global Sustainability leadership team. Before joining AstraZeneca, Jacob led the Media practice in Sweden at Burson-Marsteller and worked as a journalist for more than 15 years.

“I am very happy to welcome Jacob Lund to Investor. With his broad background, strong personality and great values, Jacob brings valuable experience and perspectives to Investor. I look forward to working closely together with him as we continue to drive our ambitious agenda within sustainability and communication. It will be great to have him onboard in the Executive Leadership Team“, comments Johan Forssell, Investor’s President and CEO.

“Sustainability and communication are fundamental pillars of modern companies and given Investor’s role in the Swedish business environment I cannot think of a more exciting role. I am very much looking forward to working with new colleagues at Investor”, comments Jacob Lund.

Jacob Lund will assume his position at Investor during October 2023.

Downloads

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Jacob Lund
Phone  +46 725 60 21 57

Categories: People

Altor has acquired a further 3.8% of the outstanding shares in FLSmidth & Co. A/S

We are pleased to announce that we, Altor Fund Manager AB (“Altor”), on August 16th 2023 have indirectly acquired a further 2.2 million shares in FLSmidth & Co. A/S (“FLSmidth”), corresponding to 3.8% of the shares outstanding. Combined with existing holdings, Altor now owns 14.9% of the outstanding shares and voting rights of FLSmidth.

“Since our initial investment in FLSmidth earlier this year, our positive view on the company has only been strengthened. We remain excited about the strategic direction of the company and the attractive long-term, green transition demand drivers supporting it, and we are impressed by the capable management team and their ability to execute on the strategic plans. The company is a great match for us, we share the same beliefs in what can and needs to be done in terms of decarbonization – an area in which we are active across many industries.” says Daniel Reimann, Principal at Altor.

Altor controls, through Altor Fund V (No.1) AB and Altor Fund V (No. 2) AB, the subsidiary, Altor Invest 7 AS, who is the direct holder of shares in FLSmidth.

Disclaimer

The purchase has not included an offer, whether directly or indirectly, in the United States, Canada, Japan, South Africa, Hong Kong or Australia, unless otherwise indicated, or in any other jurisdiction where such offer pursuant to legislation and regulations in such relevant jurisdictions would be prohibited by applicable law. This announcement is intended for the sole purpose of providing information. Persons needing advice should consult an independent financial adviser. This announcement does not constitute an investment recommendation.

About Altor

Since inception, the family of Altor funds has raised more than EUR 10 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, Norican, Wrist Ship Supply, Multi-Wing, OX2, Vianode, Tibber, and Svea Solar. For more information visit www.altor.com

About FLSmidth

FLSmidth provides sustainable productivity to the global mining and cement industries. The company delivers market-leading technology, products and service solutions that enable its customers to improve performance, drive down costs and reduce environmental impact. MissionZero is the company’s sustainability ambition towards zero emissions in mining and cement by 2030. FLSmidth works within fully validated Science-Based Targets, its commitment to keep global warming below 1.5°C and to becoming carbon neutral in its own operations by 2030. For more information visit www.flsmidth.com

Press contact

Tor Krusell

Head of Communications

tor.krusell@altor.com

+46 705 43 87 47

Categories: News

Tags:

GIC and Barzel Properties Complete R$1.2 Billion Acquisition of Nine Carrefour Brazil Group Assets

GIC

SAO PAULO, August 17, 2023 – GIC, a global institutional investor, in partnership with Barzel Properties, a leading real estate management and development firm, has completed the acquisition of five distribution centers and four retail stores through a sale-leaseback contract with Carrefour Brazil Group in a transaction valued at approximately R$1.2 billion.

The transaction is supported by a 20-year renewable lease contract with Carrefour Brazil Group, a leading Brazilian retail and private employer. Under this contract, Barzel Properties will ensure a stable, long-term revenue stream through a rental agreement, adjusted annually for inflation.

“We are thrilled to complete the acquisition of nine of Carrefour Brazil Group’s assets alongside our strategic partner, Barzel Properties,” said Lee Kok Sun, Chief Investment Officer of Real Estate, GIC. “GIC is confident in the portfolio’s long-term potential in Brazil, which is underscored by the stores’ strong operational performance and warehouses’ strategic locations in major logistics markets.”

“Despite uncertainties in the global macroeconomic environment, this transaction serves as a testament to GIC’s confidence in top-tier assets backed by robust companies with good credit ratings,” said Adam Gallistel, Head of Americas Real Estate, GIC. “In Brazil, we have been continuously exploring sale-leaseback opportunities underpinned by long-term contracts and companies with solid and growing operations, such as Carrefour Brazil Group.”

“We are immensely pleased to strengthen our partnership with GIC through this exceptionally promising transaction,” said Nessim Daniel Sarfati, CEO of Barzel Properties. “The strategic locations of these assets combined with Carrefour Brazil Group’s robust operational track record and the 20-year lease contract will provide a stable and reliable rent income stream. We have high confidence in the future potential of the acquired assets.”

Categories: News

Tags:

Neil Kenley promoted to Principal

Vistara Growth

Vistara Growth is very pleased to announce the recent promotion of Neil Kenley to Principal.

Neil has been promoted to Principal from his previous role as Director, Investments. With Vistara since 2020, Neil’s contributions have been pivotal in driving the continued growth of Vistara. Notable deals he’s been involved in include Impact Analytics, Zafin, Brim, Reach, VALD, Sama, among others. With a focus on Fintech, Digital Commerce, and AI/ML, Neil continues to be an essential part of our deal team and his expertise, dedication and leadership make him a valued contributor in the growth of our team members and the continued success of the firm.

Neil has ten plus years of experience in strategy and corporate development, private equity and investment banking. Prior to joining Vistara Growth, Neil worked in Strategy and Corporate Development at Element AI, an Artificial Intelligence start-up building AI products for enterprise customers. While at Element, he helped develop product roadmaps, negotiate partnerships and raise over $200M in venture financing.

Prior to Element AI, Neil worked as an Investment Associate at Penfund where he focused on analyzing credit and equity investment opportunities in retail, consumer, healthcare, insurance and financial services. Neil has also worked as an investment banking analyst at RBC Capital Markets where he was part of the Consumer and Industrial products team, advising on M&A transactions as well as equity and debt fundraises.

Neil holds an Honours of Business Administration from the Richard Ivey School of Business.

What Else?

Neil is always up for an adventure and jumps at every opportunity to travel as he loves experiencing new cultures and picking up a recipe or two along the way. When Neil is at home in Toronto, he spends his time cooking, attending local art events, and discussing comics or the latest Marvel movie with friends, family – really, anyone that will listen.

Categories: People

Leading European industrial temperature control equipment rental specialist Coolworld to be sold by Gimv to Arcus European Infrastructure Fund 3, the third fund of Arcus Infrastructure Partners

GIMV

16/08/2023 – 07:28 | Portfolio

Building on its strong organic growth, Coolworld Investments B.V. (“Coolworld” or the “Company”), a market-leading specialist in mission-critical temperature control asset rental solutions, will be acquired by Arcus European Infrastructure Fund 3 (“AEIF3”), the third fund of Arcus Infrastructure Partners (“Arcus”). As part of the transaction, Gimv will sell its majority shareholding in the Company.

Arcus has significant value-add investing experience in European infrastructure and, specifically, asset leasing and cold chain businesses. This will help to support Coolworld’s management in further accelerating growth and focusing on long-term, sustainable value creation. The current management team will continue to lead the business through this next phase of growth and reinvest in the Company alongside AEIF3.

Coolworld offers a wide range of temperature control asset rental solutions, including process cooling, climate control, modular cold storage and industrial heating. The Company is a key industrial partner to its customers, providing mission-critical assets to enable and ensure process and product integrity, and support companies in complying with operational and regulatory requirements.

Over three decades of organic growth, the Company has built a market-leading position as a pureplay temperature control rental specialist, reflected in the number of long-term relationships it serves with blue chip customers across the food, pharmaceutical, chemical, logistics and other sectors.

Coolworld’s comprehensive customer offering is enabled by its high-quality range of temperature control assets, including industrial chillers, climate control units, mobile cold rooms, its network of depots in key regions of Northwest Europe, deep in-house expertise and a full-service solutions offering. Coolworld supports its customers across the full spectrum of requirements, from temporary emergency and downtime capacity to long-term leasing solutions.

Coolworld currently operates in six European countries and serves its customers through local depots to ensure high responsiveness and to minimise its carbon footprint. The Company’s focus on sustainability will continue to be a priority in this next growth phase, through significant further investment in the asset fleet, an increasing range of sustainable solutions and partnerships with customers and suppliers to drive decarbonising innovation.

In 2019, Gimv invested in Coolworld through its Sustainable Cities platform alongside the founders and management team. At the time of investment, Coolworld already had a strong position in the Netherlands, Belgium, Germany, France, Austria and Switzerland and served a diversified customer base. With Gimv’s guidance, Coolworld achieved impressive organic growth through key strategic decisions, including further investments in a more sustainable fleet, build-out of the organisation and IT architecture, and further strengthening Coolworld’s local presence across Europe.

Ruud van Mierlo, CEO of Coolworld, noted: “Coolworld has delivered very strong growth over recent years and we have positioned ourselves as one of the leading temperature control asset rental companies in the market. Together with Gimv as our main shareholder, we were able to make substantial investments in our rental fleet and the organisation to keep up with the demands of our customers. With Arcus on board as our new majority shareholder, we will be able to enter the next phase of development in our company. Further growth, further professionalisation and access to more financing to support the growth of our company as a pan-European leader.”

Jordan Cott, Partner at Arcus Infrastructure Partners commented: “As part of our broader industrial infrastructure sector strategy, Coolworld stands out as a market-leading pureplay specialist in the temperature control asset leasing space. The Company has a well invested asset fleet, top-tier management team, long-term operating relationships and excellent market reputation, with decades of track record in providing its mission-critical asset rental solutions to growing and resilient end markets in Europe. It is an excellent fit within AEIF3’s infrastructure investment strategy, and a business where we can leverage our significant experience in value-add asset leasing as well as cold chain infrastructure. We look forward to working closely with Coolworld’s excellent management team to deliver the next phase of growth for the Company.”

Rombout Poos, Partner Sustainable Cities at Gimv, added: “Under the leadership of Ruud van Mierlo and his team, Coolworld has experienced very strong growth in recent years as a solutions provider for the numerous climate challenges we all face today. With Arcus as a new shareholder, Coolworld will be able to further expand its position as a pan-European player.”

Over the entire holding period Gimv realizes a return in excess of the long-term portfolio return target. No further financial details will be disclosed.

Categories: News

Tags:

Carlyle to sell Assala Energy to Maurel & Prom

Carlyle
  • Over the course of its ownership, Carlyle has worked with the Assala management team to support the company’s growth and rejuvenate its assets, investing in operations, infrastructure and M&A
  • Under Carlyle’s ownership, Assala increased its net production by approximately 30% to 45 kbbl/d and its reserves life from five to eight years

Libreville, Gabon – Global investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to sell Assala Energy (“Assala”), an upstream oil exploration and production company operating in Gabon, to Etablissements Maurel & Prom SA (“M&P”), an oil and gas exploration and production company listed on Euronext.

Carlyle invested in Assala in 2017 through Carlyle International Energy Partners, a private equity fund that invests in energy opportunities in Europe, Africa, Latin America and Asia. During its period of ownership and in partnership with the Assala management team, Assala has become a successful stand-alone company, adding reserves, upgrading production facilities and infrastructure, and executing strategic M&A.

Thanks to significant investment (in excess of $1.3 billion over the Carlyle investment period) and operational excellence, Assala has been transformed into one of the leading independent exploration and production companies in West Africa. Since Carlyle’s acquisition, Assala has increased net production by c. 30% to approximately 45 kbbl/d and, based on current production, has extended reserve life from five to eight years at the end of 2022, with a reserves replacement ratio of over 160% over the investment period. Assala also resumed exploration activity in 2020 to support the company’s longer-term growth.

Carlyle and the Assala management team have worked closely together to accelerate the decarbonization of the company. Since 2020, Assala has reduced its Scope 1 and 2 emissions by approximately 20%, primarily through methane leak detection and prevention, gas re-injection, the reduction of flaring and the shutting in of wells with excessive gas production.

David Roux, CEO of Assala, said: “We want to thank Carlyle for its financial and strategic support throughout Assala’s growth journey, from the initial carve out from Shell in 2017 to the successes of higher production and reserves growth, which were delivered to best practice and international ESG standards by our exceptional team. We also want to thank the Government of Gabon for the support it provided throughout this intensive investment and redevelopment period. We are proud of our accomplishments so far and look forward to our business’s next stage of growth. The combination with M&P will create a great platform, with its business anchored in Gabon and a continued focus on creating value for its employees, local communities, governments and shareholders.”

Bob Maguire, Co-Head of Carlyle International Energy Partners, said: “We are proud to have worked alongside David and his team in the transformation of Assala over the past six years. By investing in the company’s facilities and infrastructure to increase production and reserve life — while at the same time decarbonizing its operations — Carlyle has helped Assala become a responsible operator, employer and partner and has enabled it to contribute significantly to the sustainable economic future of Gabon’s energy industry.”

Guido Funes Nova, Co-Head of Carlyle International Energy Partners, said: “Our investment in Assala is a great example of how Carlyle works in partnership with management teams to deliver long-term value from mature assets for the benefit of our investors as well as the local economy and communities, while reducing emissions intensity. Assala is now one of the most efficient and skilled operators of mature onshore assets in Sub-Saharan Africa, with a long runway for future sustainable value creation.”

Citi acted as financial advisor and Latham & Watkins as legal advisor to Carlyle on this transaction.

—

About Assala 

Assala is an oil and gas exploration and production company, with operations in Gabon. Assala’s business model is to invest in mid-life and mature assets, improving operational efficiency and production levels, while responsibly extending field life cycles through reserves replacement and in compliance with international best practice Environment, Social and Governance standards. In line with Assala’s Values and corporate culture, the company is committed to contributing to the national and local economies of its host countries, while complying with its international obligations on transparency.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $385 billion of assets under management as of June 30, 2023, 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 more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

Media contacts

Carlyle:
Charlie Bristow
charlie.bristow@carlyle.com
+44 7384 513 568

Assala Energy:
Caroline Sourt
+34 (0) 638 976 262
caroline.sourt@assalaenergy.com

Categories: News

Tags: