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American Securities Acquires Meridian Adhesives Group from Arsenal Capital Partners

American Securities

New York, NY– American Securities LLC (“American Securities”) and Arsenal Capital Partners (“Arsenal”) today announced that an affiliate of American Securities has acquired Meridian Adhesives Group (“Meridian” or the “Company”), in partnership with the management team and funds affiliated with Arsenal. Financial terms of the transaction were not disclosed.

Meridian is a leading producer of high-performance advanced adhesives for electronics, infrastructure, and industrial end markets. The Company sells a broad portfolio of chemistries and focuses on niche applications that require custom solutions and complex formulations. Meridian operates 25 facilities and serves over 5,000 customers in North America, Asia Pacific, and Europe. The Company is headquartered in Houston, TX and employs approximately 560 people globally.

“We are grateful for the support of Arsenal over the past four years as we established Meridian as the go-to solution provider in the industry,” said Dan Pelton, Chief Executive Officer of Meridian. “We are excited about Meridian’s next phase of growth and our new partnership with American Securities.”

“The time that we have spent evaluating and investing in companies in the adhesives space gives us immense appreciation for Meridian’s leadership positions in attractive and growing end markets and applications,” commented Scott Wolff, a Managing Director of American Securities. “We are excited to support the Company’s organic growth and M&A strategies, innovation, and continued operational excellence so that Meridian can continue to solve problems for its customers.”

“Meridian’s growth has been a result of focusing on positive long-term trends in technologies and end markets, coupled with hard work from a talented leadership team and employee base,” said Roy Seroussi, an Investment Partner of Arsenal. “We look forward to our continued partnership with the Company and American Securities as we build a leading, global adhesives company.”

Morgan Stanley & Co. LLC acted as financial advisors to American Securities and Weil, Gotshal & Manges LLP served as legal counsel. Citi and Moelis & Company LLC acted as financial advisors to Meridian and Benesch, Friedlander, Coplan & Aronoff LLP served as legal counsel with respect to the transaction.

About Meridian Adhesives Group
Meridian Adhesives Group is a leading manufacturer of high-value adhesive technologies. With a broad portfolio of dynamic solutions, Meridian serves the electronics, infrastructure, and industrial (flooring, packaging, and product assembly) markets. The group’s operations are located in the Americas, EMEA and Asia, with a multitude of sales/service offices worldwide that are positioned to serve Meridian’s global customer base. For more information, visit https://meridianadhesives.com.

About American Securities LLC
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. American Securities and its affiliates have more than $26 billion under management. For more information, visit www.american-securities.com.

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Alberto Fasja Cohen Joins General Atlantic as Senior Advisor

August 31, 2022 – General Atlantic, a leading global growth equity firm, announced today that Alberto Fasja Cohen has joined the firm as a Senior Advisor. Mr. Cohen will provide strategic counsel and serve as a valuable resource on General Atlantic’s investments in Mexico and the broader Latin America region.

Mr. Cohen joins General Atlantic with over two decades of entrepreneurial experience, having co-founded Grupo Axo, a General Atlantic portfolio company since 2017 and a leading multi-brand and multi-channel company with roots in fashion, accessories, footwear, beauty, personal care and household products. Cohen co-led Grupo Axo’s expansion efforts, which have resulted in the company carrying over 30 brands across 5,500 points of sale in both Mexico and Chile. He also serves on the board of Endeavor Mexico, a non-profit that promotes high-impact entrepreneurship in the country.

“As we expand our footprint in Latin America and Mexico in particular, Alberto’s deep industry knowledge and hands-on experience in the region will provide invaluable insights and expertise to both our deal teams and our entrepreneurs,” said Martín Escobari, Co-President, Managing Director and Head of Latin America at General Atlantic. “I am confident he will provide a unique, entrepreneur-first perspective that will help us continue to identify and scale some of the most transformative and disruptive growth companies across Latin America.”

“I am excited to expand my work with General Atlantic in Mexico and Latin America,” said Alberto Fasja Cohen. “As the co-founder of a General Atlantic-backed company myself, I look forward to advising the firm on both supporting our current portfolio companies and approaching new potential investments in the region through the lens of how we can best support exceptional Latin American entrepreneurs in realizing their growth ambitions for their innovative companies.”

General Atlantic has invested more than $5.3 billion in Mexico and Latin America since the firm entered the region in 2000. The firm has 21 portfolio companies across Latin America, as of August 30, 2022.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $73 billion in assets under management inclusive of all products as of June 30, 2022, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts
Casey Gunkel
media@generalatlantic.com

Categories: People

EQT sets target fund size for EQT Infrastructure VI at EUR 20 billion

eqt

THIS IS INFORMATION THAT EQT AB (PUBL) IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION. THE INFORMATION WAS SUBMITTED FOR PUBLICATION, THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT BELOW AT 21:00 CET ON 31 AUGUST 2022.

EQT has today set the target size for the EQT Infrastructure VI fund at EUR 20 billion. The actual fund size is dependent on the outcome of the fundraising process and may be higher or lower than the target size. The EQT Infrastructure VI fund’s investment strategy and commercial terms are expected to be materially in line with the predecessor fund EQT Infrastructure V.

To ensure continuity between two fund generations, EQT’s capital raisings usually follow a cycle with successor funds targeted to be in a position to commence investment activities when the predecessor fund is close to being fully invested. This means that the commitment period of the predecessor fund typically ends when approximately 80 to 90 percent of its total commitments are invested, with remaining commitments being available primarily for add-on acquisitions and strategic capital injections as well as for ongoing expenses.

Management fees for the EQT Infrastructure VI fund will be charged from the earlier of (i) the date of signing of its first investment; or (ii) the date of termination of the commitment period of the EQT Infrastructure V fund. Management fees on the EQT Infrastructure V fund will thereafter be based on net invested capital.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

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.

About

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. As of 30 June 2022, EQT had EUR 77 billion in assets under management across 36 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 23 countries across Europe, Asia-Pacific and the Americas and has close to 1,500 employees.

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

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David Krancenblum joins KKR as Head of France for Credit & Markets

KKR

Appointment reflects strong growth momentum in KKR’s Credit & Markets segment in France and growing Paris-based team

Paris, 30th August, 2022 – KKR, a leading global investment firm, today announced the appointment of David Krancenblum as Head of France for Credit & Markets, effective immediately. David Krancenblum will be based in Paris.

Mr. Krancenblum will cover all credit and capital markets transactions in France, including senior and junior private debt, structured capital and capital markets solutions for French financial sponsors and corporates.

Prior to joining KKR, Mr. Krancenblum was in the Leveraged & Acquisition Finance team at Morgan Stanley, focusing on the origination and execution of sub-investment grade financings in France across a wide range of credit profiles and situations. Mr. Krancenblum started his career at Credit Suisse where he successively worked in the Leveraged Finance Origination & Restructuring team, and the Leveraged Finance & Sponsors Group. Mr. Krancenblum holds a Master’s Degree in Management from HEC Paris.

Matthieu Boulanger, Partner and Co-Head of Private Credit, said: “David is an exceptional addition to the team. His arrival will bolster an already strong momentum, testimony to KKR’s commitment to France, one of Europe’s most dynamic credit markets.”

Jérôme Nommé, Partner and Head of KKR France, said: “We continue to grow our team in Paris across KKR’s full range of strategies, and are delighted to welcome David and the expertise he brings. David’s appointment will help us to further deepen our credit and capital markets offering in this market, reinforcing KKR’s ability to provide tailor-made solutions to French founders and entrepreneurs.”

David Krancenblum, Head of France for Credit & Markets, said: “The breadth of KKR’s credit product offering is a strong fit for the French client universe: our versatile private debt range, combined with our capital markets solutions, offers the agility they need for their strategic transactions across cycles.”

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.

Contacts

FGS Global
Nathalie Falco
+33 (0)6 30 64 90 15
nathalie.falco@fgsglobal.com		 Xavier Mas
+33 (0)6 82 52 76 42
xavier.mas@fgsglobal.com

Categories: People

Oakley invests in Phenna Group and CTS Group

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Fund V is investing in leading Testing, Inspection, Certification, and Compliance (“TICC”) platform, Phenna Group (“Phenna”), in partnership with co-founders Paul Barry (CEO) and David Harrison (CFO) who are reinvesting into the business.

In parallel, Oakley has also acquired CTS Group (“CTS”), a leading provider of testing and inspection services in the U.K., focussed on the infrastructure market. CTS will become part of Phenna Group upon completion of both transactions.

Phenna Group

Formed in 2018, Phenna has rapidly emerged as one of the fastest growing TICC groups globally, with revenue growth of circa 100% CAGR over the last three years. Today the group comprises 31 independent businesses which provide specialist TICC services across infrastructure, built environment, niche industrial, pharmaceutical and certification and compliance divisions. The business operates across 12 countries in four continents.

Quote Paul Barry

We were attracted to Oakley’s deep expertise in M&A execution and integration, as well as their strong track record in helping businesses to internationalise at scale. As we look to the future, we’re excited to be working with them and together delivering on our mission to grow Phenna into a leading global TICC player.

Paul Barry

Founder and CEO — Phenna Group

CTS Group is a leading provider of testing, inspection and geoengineering consulting services in the U.K., primarily focussed on long term civil infrastructure projects. The business has more than doubled revenues over the last three years through organic growth and targeted acquisitions.

CTS will become part of Phenna Group upon completion of both deals. The existing CTS management team will continue to lead the business within the wider group. CTS and Phenna Group offer complementary services. Their combined UK wide network of laboratories, site based services and geotechnical expertise will ensure customers benefit from an expanded service offering.

Phil Coles, CEO of CTS Group, commented: “Oakley’s approach and their track record in driving business growth through M&A complimented that of CTS and our incredible growth story to date. The opportunity that then presented itself to continue this within Phenna, with the immense success that Paul and the team have had to date, was ideal and provides a great future for the business as part of a larger, incredibly ambitious, international group.”

Quote Peter Dubens

Phenna Group is exactly the kind of entrepreneurial disruptor that Oakley was founded to support. We are pleased to have been able to help them with the acquisition of CTS Group, one of the pre-eminent testing brands serving UK infrastructure customers. We believe Phenna has the potential to become one of the leading TICC groups in the world and look forward to supporting them to achieve that vision.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Market Dyanmics

The global TICC market is worth over £200 billion and remains highly fragmented with the top 10 groups accounting for only 12% of the market. The market is forecast to grow at over 5% p.a. driven by regulatory trends, increased outsourcing, and exposure to growing end markets. Customer demand is typically non-discretionary due to mandatory testing requirements. Customers are highly loyal. Phenna is diversified across multiple end markets and geographies.

Phenna Image
Phenna Group – one of the fastest growing TICC groups globally.

Phenna has emerged as the strategic acquirer of choice for best of breed specialist TICC companies due to its unique partnership approach, which allows leading TICC entrepreneurs to continue to operate their businesses whilst also having all the benefits of being part of a larger global business. Oakley’s investment will allow Phenna to continue to grow rapidly into new verticals and geographies.

Oakley was advised by DC Advisory, Simpson, Thacher & Bartlett, PWC, BCG and KPMG in connection with this transaction.

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Adelis passes the baton in Nordentic to Corus

Adelis Equity

Adelis Equity Partners Fund I (“Adelis”) divests its majority stake in Nordentic, the largest dental labs Group in the Nordics, to Corus. Corus is a leading dental labs Group in Europe, with operations in France, Spain, the Netherlands, Belgium and Portugal.

Adelis invested in Nordentic in 2017, in partnership with the founders and key management of Nordentic, including the CEO, Johnny Tekin. During Adelis’ ownership, over 20 dental labs have come together as one Group, and as a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.

“Johnny, the rest of Nordentic’s management, and the lab managers have done a fantastic job transforming Nordentic as well as managing the company through the challenging times of Covid-19. We are proud of what we have achieved together and look forward to following Nordentic in its journey together with Corus”, say Hampus Nestius and Joel Russ at Adelis.

Thomas Berglund, Chairman of Nordentic says: “It has been an honor to work with the team of Nordentic. Through joint efforts, we have created a strong company for our customers, employees, and owners.”

“Adelis and our board of directors have been great partners to Nordentic, and I am very grateful for their contribution over the past years. They have been material in helping us set and deliver on the vision of Nordentic and have been a good speaking partner on both strategic and operational matters. I am very excited to join forces with Corus. We are both pioneers in the industry. I look forward to shaping the future of our industry together with them,” says Johnny Tekin, CEO of Nordentic.

The parties have agreed not to disclose the purchase price. The transaction is expected to close during Q3 2022.

Adelis was advised by Clearwater International, White & Case and Svalner on the transaction.

For further information:

Johnny Tekin, Nordentic, johnny.tekin@nordentic.com

Joel Russ, Adelis Equity Partners, joel.russ@adelisequity.com

Hampus Nestius, Adelis Equity Partners, hampus.nestius@adelisequity.com

About Nordentic

Nordentic is the leading dental lab company in Scandinavia with over 20 labs that have come together as one group since 2016. Nordentic has been a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 35 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com.

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Altor supports H2 Green Steel on EUR 190 million funding round

Altor

Altor Fund V (Altor) continues to support the Swedish green impact company H2 Green Steel in its first close of the Series B equity financing. The key investors in the financing round next to Altor are AMF, GIC, Schaeffler, Swedbank Robur and Vargas Holding. Existing shareholders continue to support the company with additional equity funding, including such investors as Kingspan, FAM, Marcegaglia, IMAS Foundation, Cristina Stenbeck and Daniel Ek.

Altor was also part of the initial Series A equity financing in March 2021.

H2 Green Steel was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The company has proceeded in record pace receiving a permissibility permit for its operations in Boden, securing a 14TWh agreement for renewable electricity and initiating ground works and construction.

”We are excited to continue supporting H2 Green Steel. It fits perfectly with our increased efforts to invest in green transition opportunities, where we have made a number of other investments such as OX2, Svea Solar and Vianode. H2 Green Steel has proven the demand of its products by already having more than 50% of its initial volumes pre-sold to customers across a range of industries, from passenger vehicles and white goods to steel trading clients” says Klas Johansson, Partner at Altor.

“This financing milestone is a real statement of confidence in H2 Green Steel. Despite the uncertainty in global markets, a venture like ours, with both a strong business case and a strong sustainable purpose, is clearly attractive to investors. This financing round has allowed us to combine leading industrial companies and global financial institutions, with investors with a strong Swedish participation, creating the investor- base, that will set us up for success,” says Henrik Henriksson, CEO of H2 Green Steel.

For more information, please contact:
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 85 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 OX2, Vianode, Svea Solar and Nordic Climate Group. For more information visit www.altor.com

About H2 Green Steel
H2 Green Steel (H2GS AB) was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The founder and largest shareholder of H2 Green Steel is Vargas, which is also co-founder and one of the larger shareholders in Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden. www.h2greensteel.com

Author: Katarina Karlsson
Date: 2022.08.30
Categories: News

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Gilde Healthcare Acquires Sanquin Reagents

GIlde Healthcare

The specialized private equity fund invests in scaling-up production and development of new medical tests

Gilde Healthcare, a specialized healthcare investor, today announces its intention to acquire Sanquin Reagents from Sanquin Health Solutions (SHS) with its private equity fund. Sanquin Reagents produces and sells blood group and immune reagents, materials needed for diagnostic research and drug development. Sanquin Reagents is an international producer in the field of hematology and immunology reagents, supplying tests to laboratories for medical diagnostics and research.

The investment by the private equity fund of Gilde Healthcare offers Sanquin Reagents the opportunity to scale up the production of diagnostic tests and to strengthen its leading position in the development of immunoreagents. Sanquin Reagents will remain located in the New West Health & Innovation District in Amsterdam, where it is part of an international platform of innovative companies and organizations in the field of transfusion medicine, hematology, oncology and immunology. Gilde Healthcare will invest in the growth of Sanquin Reagents’ high-quality scientific research team, building on its specialist knowledge and strong international reputation.

Sanquin Health Solutions (SHS) is active in the fields of diagnostics, in vitro reagents, technology innovation and science campus development. It invests in start-ups and scale-ups in order to foster future growth under new ownership. “Sanquin Reagents has been able to develop well within Sanquin’s network over the past few years. There is a great product line, a solid organization, and an incredible amount of knowledge and potential for new products. Under Gilde’s wing, Sanquin Reagents will certainly be able to grow and make even more of an impact. Patients worldwide will benefit from this,” says Pieter de Geus, Managing Director of SHS.

For Gilde Healthcare, the investment in Sanquin Reagents is the first investment of its recently announced €517 million Private Equity Fund IV (GHPE IV). “We are very happy with this announcement. We invest in companies that enable better healthcare at lower cost. Sanquin Reagents’ strong R&D focus on developing new reagents fits with this investment philosophy. We see ample opportunity to expand the unique research and production capabilities and develop new reagents,” said Hugo de Bruin, partner at Gilde Healthcare.

“We are proud of our history and the strong market position we have built. It is our ambition to become the most innovative developer and manufacturer of hematology and immune reagents. The collaboration with Gilde Healthcare enables us to attract new talent and expand our network,” says Harry Bos, PhD, Managing Director of Sanquin Reagents.

The acquisition, which is still subject to the usual approval under the Works Councils Act, is expected to be completed in the coming months.

Contact details:
Hugo de Bruin (Partner)
email: debruin@gildehealthcare.com
Mob: +31.6.55301905

Pieter van der Meer (Managing Partner)
email: vandermeer@gildehealthcare.com
Mob: +31.6.54308551

About Sanquin Health Solutions
It is the mission of Sanquin Health Solutions (SHS) to fully unlock and utilize the potential of blood and science for the benefit of patients. SHS is the parent company of Sanquin’s private activities in the fields of diagnostics, in vitro reagents, technology innovation and science campus development. SHS also has a number of participating interests. SHS is 100% owned by the Sanquin Blood Supply Foundation. Proceeds from SHS’s commercial activities benefit, among other things, its research activities, which are used to develop new drugs and treatment methods.

About Sanquin Reagents
Reagents are products used in hospital laboratories to demonstrate certain characteristics or abnormalities in blood samples. Sanquin Reagents was one of the first producers of blood group reagents. Sanquin Reagents develops a wide range of blood group and immune reagents in its own research facilities and diagnostic laboratories. The products are available worldwide through a network of distributors.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.9 billion ($2.0 billion) across two fund strategies: Private Equity and Venture&Growth. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers to pharma, medtech and healthcare. Gilde Healthcare’s Venture&Growth fund invests in therapeutics, medtech and healthtech in Europe and North America. More information: www.gildehealthcare.com

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KKR Launches Highways Infrastructure Trust in India

KKR

Launch marks KKR’s third infrastructure investment trust in India

Strengthens KKR’s ability to pursue opportunities in transportation, renewables, and power

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Highways Infrastructure Trust (“HIT”), a roads infrastructure investment trust (“InvIT”). HIT is KKR’s third InvIT in India, in addition to Virescent Renewable Energy Trust, India’s first renewable energy InvIT, and India Grid Trust, a leading transmissions InvIT, and marks KKR’s latest development as it scales its infrastructure investment activity in the country. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 states or union territories across India.

HIT’s initial portfolio comprises of six roads assets with a total length of more than 450 kilometers across six states in India. The assets, which include a diversified mix of toll and annuity roads, are located in Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana. In addition, HIT is considering a pipeline of acquisition targets, including through its sponsor. The platform possesses significant growth potential and seeks to invest in high-quality assets, including through bolt-on acquisitions.

HIT has been assigned a ‘Provisional AAA/Stable’ rating for its loan facilities from CRISIL, S&P’s India affiliate. The rating reflects the assets’ favorable location and geographical diversity, as well as strong track record of revenue.

HIT’s launch takes place on the back of growing demand to expand India’s road network, the second-largest globally, as passenger traffic and commercial vehicle traffic continue to increase. Today, India’s road network is responsible for 90% of total passenger traffic and the movement of almost 65% of all goods across the country.1

Hardik Shah, Partner at KKR, said, “HIT’s launch is a significant milestone for KKR’s India infrastructure strategy as we deepen our presence in the market. Highways and roads play a critical role in driving India’s economic prosperity and connecting its citizens, and we look forward to enabling further infrastructure creation and expansion as transportation demands continue to grow. With our dedicated platforms across transmissions, roads, and renewables in place, KKR is well-positioned to collaborate with sellers in the private markets and the government through the National Monetisation Pipeline on attractive investment opportunities.”

In Asia Pacific, KKR takes a flexible approach to infrastructure investment and combines local knowledge and capabilities with the Firm’s global industry and operational expertise. Globally, KKR’s infrastructure portfolio spans a broad range of sectors including transportation, renewable energy, power and utilities, water and wastewater, and telecommunications, among others, and manages more than $40 billion in assets.

In India, KKR sees transportation, renewable energy, and electricity transmissions as core to its infrastructure strategy. The launch of HIT additionally strengthens KKR’s longstanding commitment to India. Since setting up its Mumbai office in 2009, KKR has made more than 20 investments in India with more than a dozen active portfolio companies today.

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.

1 India Brand Equity Foundation (August 2022): Roads Industry Report

KKR Media:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR & Co. Inc.

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Sigmax chooses for growth acceleration with investor Quadrum Capital

Quadrum Capital

Enschede, June 25th – Sigmax has been providing successful software solutions for 24 years with a strong focus in recent years on safe and livable cities, public transport and service organisations. With a leading market position in various domains, Sigmax wants to continue to develop at the highest level. From June 2022, the organisation has chosen to cooperate with Quadrum Capital, an independent investment company that helps companies grow responsibly by contributing its network, capital and management experience.

image

Sigmax, Enschede

Leo van den Ende, CEO and co-founder of Sigmax: “The strength of this partnership allows us to make our solutions functionally broader and richer. By further investing in our knowledge and people, we are responding to the increasing demand for digitisation and growing scarcity of tech professionals”.

Potential for strong international position

Ingeborg Schepers, investment director at Quadrum Capital: “Sigmax creates complex software solutions for social issues and has the potential to take up a strong international position. From a solid basis, we are continuing to build an extremely reliable technology organisation that can continue to provide its European customers with high-quality software products and services thanks to highly motivated and experienced professionals”.

Confidence for the future

In 2019, Sigmax and Quadrum Capital successfully worked together on the corporatisation of Exite ICT, Sigmax’s former ICT division. From this positive experience, they look to the future with confidence. Van den Ende: “Quadrum Capital shares our entrepreneurial mentality, commitment and Twente roots. We are excited to work with them in this next phase of international growth”.

Building further from Kennispark Enschede

Sigmax will realise its international growth ambitions from its headquarters at Kennispark in Enschede. According to Van den Ende, the Kennispark is an important location for attracting highly skilled employees: “Thanks to good connections with Saxion University and the University of Twente, combined with a very attractive residential, working and living environment, Kennispark Enschede offers the best possible basis for further growth for Sigmax”.

About Sigmax Sigmax is an internationally operating software organisation with a focus on safe and liveable cities, public transport and service organisations. Sigmax makes the work of thousands of professionals in these areas easier and processes more efficient on a daily basis. Sigmax’s customer portfolio includes the municipalities of Amsterdam and Antwerp, Dutch Railways and Carglass.

More information: www.sigmax.nl

About Quadrum Capital Quadrum Capital is a nationally operating investment company with an entrepreneurial mindset and strong roots in the Eastern Netherlands. In recent years Quadrum Capital has built up a broad portfolio of participations in various industries, including ICT & Software. As a committed partner, Quadrum Capital focuses on the responsible growth of companies by contributing its network, financial strength and management experience.

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