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AE Industrial Partners Completes Sale-Leaseback Transaction with Allegiant Air

Ae Industrial Partners

AE Industrial Partners Completes Sale-Leaseback Transaction with Allegiant Air

Boca Raton, FL – November 16, 2020 – AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced today the completion of a sale and leaseback transaction with Allegiant Air (“Allegiant”) involving four Airbus A319 aircraft. The transaction is the firm’s first aircraft leasing transaction made from its AE Industrial Partners Aerospace Opportunities Fund, an aircraft and engine leasing investment platform launched early this year. Terms of the transaction were not disclosed.

“We are excited to embark on this partnership with Allegiant and to complete the first aircraft leasing transaction for our AE Industrial Partners Aerospace Opportunities Fund,” said Mark Satran, Senior Managing Director at AEI. “We believe that Allegiant, with its low-cost, domestic leisure business model, is well-positioned for a strong return in 2021, as travelers look to reunite with family and friends. The workhorse nature of the A320 family aircraft is a great fit for our investors, and we’re impressed by what Allegiant’s management has rapidly accomplished during these turbulent times for the aviation industry.”

“The investment from AEI will provide Allegiant with greater flexibility as we address an unprecedented time in the industry. We were happy with the results of this transaction and look forward to an ongoing collaboration,” said Robert Neal, Treasurer and Vice President of Fleet & Corporate Finance at Allegiant.

About Allegiant Travel Company
Las Vegas-based Allegiant (NASDAQ: ALGT) is an integrated travel company with an airline at its heart, focused on connecting customers with premier leisure experiences – from vacations to hometown family entertainment. Since 1999, Allegiant Air has linked travelers in small-to-medium cities to world-class vacation destinations with all-nonstop flights and industry-low average fares. Today, Allegiant’s all-Airbus fleet serves communities across the nation, with base airfares less than half the cost of the average domestic roundtrip ticket. For more information, visit us at Allegiant.com. Media information, including photos, is available at gofly.us/iiFa303wrtF.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment. Learn more at www.aeroequity.com.

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CONTACT:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com

or

Caroline Luz
(203) 656-2829
cluz@lambert.com

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3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV

3D Investors

3D NV (“3d investors”) announces today that it considers launching a voluntary and conditional public takeover bid for all shares in Zenitel NV (“Zenitel”) that are not currently held by it, through a subsidiary House of Thor BV. The bid would be made at a price of EUR 22.75 per share and would be paid in cash.

3d investors currently holds 1,584,776 shares in Zenitel, or 47.87% of the total number of shares issued. Therefore, the bid would relate to the remaining 1,726,108 shares or 52.13% of the total number of shares issued.

The bid would be made subject to a number of conditions, including an acceptance threshold of 95% and a material adverse change clause. If successful, the bid would be followed by a simplified squeeze-out bid under the same conditions.

The price of EUR 22.75 per share would hold a premium of 37.9% to the closing stock price as at 13 November 2020, or a premium of 47.8% to the closing stock price as at 13 November 2020 if the premium is calculated on the implied enterprise value, excluding the net cash position as at 30 June 2020. The price would imply a premium of 39.7%, 38.1%, 41.3% and 47.8% on the volume weighted average share stock prices over the past 1, 3, 6 and 12 months, respectively.

Through the bid, 3d investors would offer shareholders the opportunity to immediately sell their shares on terms that 3d investors considers very attractive. Such conditions would be difficult to obtain under other circumstances, given the limited liquidity of the Zenitel share.

3d investors has informed the board of directors of Zenitel about its intentions. Subject to the review by the board of directors of the prospectus, the directors of Zenitel who are not affiliated with 3d investors have unanimously decided to support and recommend the bid. The board of directors have thereafter adopted the same decision with unanimity. A detailed opinion of the board of directors will be set forth in the memory in reply, which will also be attached as an annex to the prospectus.

The bid is supported by reference shareholder De Wilg CommV (12.08%), which has irrevocably committed to tender its shares to the bid.

This notice is merely an expression of an intention and does not constitute formal notification of a voluntary public takeover bid within the meaning of the Royal Decree of 27 April 2007 and the Law of 1 April 2007 on Public Takeover Bids. Whether, when and under which conditions the bid would be made depends on a number of factors, including general market conditions and the further evolution of the financial markets and the assessment of the bid price by an independent expert appointed by the independent directors who will issue a valuation report within the meaning of Article 23 of the Royal Decree of April 27 2007 on Public Takeover Bids.

If 3d investors decides to formally launch the voluntary and conditional public takeover bid, it will submit a file for this purpose with the FSMA (including a draft prospectus). The board of directors of Zenitel will then review that draft prospectus and further explain its position in a memorandum of reply. If 3d investors decides not to proceed with the bid, it will promptly report about this in accordance with the applicable rules.

About 3d investors

3d investors is a family investment company that chooses to support the growth of solid companies, in partnership with entrepreneurs and management. They always start from the core values: entrepreneurship, empathy, integrity, passion and agility.

3d investors is a long-term shareholder in a number of listed groups (KBC, Ackermans & van Haaren, Atenor, Barco and Zenitel), non-listed companies (including Care Cosmetics, Pauwels Consulting, Plastiflex, Studio 100 and 3P) and 3d Real Estate.

More information can be found at www.3d-investors.be

Contact: Frank Donck +32 9 329 72 01

About Zenitel

Zenitel is a global player in the development and commercialisation of intelligent communication solutions where security, guaranteed availability and sound quality are essential. With nearly 120 years of experience, Zenitel has proven to be a reliable and quality provider of broadcast systems, intercom solutions and two-way radio. These systems interface with other security devices, enabling end users and integrators to build a comprehensive and integrated security solution that combines access control, video surveillance, digital messaging and other solutions. Today, Zenitel’s customers include security service providers, companies and organisations active in the transportation and shipping sectors, healthcare institutions and industrial companies.

Zenitel employs approximately 300 people worldwide, is headquartered in Norway and sells its solutions under the Vingtor-Stentofon and Phontech brands.

More information can be found at www.zenitel.com

Disclaimer

This notice is also published in Dutch. If this should create uncertainty, the Dutch version will prevail.

This notice does not constitute a bid to purchase securities of Zenitel nor a solicitation by anyone in any jurisdiction in respect thereof. If a bid to purchase securities of Zenitel through a public takeover bid is proceeded with, such bid will and can only be made on the basis of a prospectus approved by the FSMA. No action has been taken to enable a public takeover bid in any jurisdiction and no such actions will be taken before 3d investors resolves to pursue a public takeover bid. Neither this notice nor any other information in respect of the matters contained herein may be supplied in any jurisdiction where a registration, qualification or any other obligation is in force or would be with regard to the content hereof or thereof. Any failure to comply with these restrictions may constitute a violation of the financial laws and regulations in such jurisdictions. 3d investors and its affiliates explicitly decline any liability for breach of these restrictions by any person.

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Centauri Health Solutions Adds Referral Management and Analytics Capabilities with Acquisition of Ivy Ventures, LLC

C

Deal continues year of Centauri’s growth in hospital revenue cycle optimization

Centauri Health Solutions (“Centauri”), an innovative healthcare technology and services company, announced today that it has acquired Ivy Ventures, LLC (“Ivy”), a Virginia-based healthcare growth solutions company focused on developing referral-driven service lines and improving care coordination. This addition expands Centauri’s comprehensive hospital solutions offerings, which already include Medicaid and Disability Eligibility and Enrollment, Out-of-State Medicaid Billing, and Revenue Cycle Analytics.

Founded in 2003, Ivy deploys an IP-enabled services model allowing major hospital networks to scale physician referral functions to grow referral driven service lines. Ivy utilizes a proprietary scheduling, analytics, and outreach platform to improve the experience and success rate of the referral process. Ivy’s data-driven process and insights deliver meaningful growth and improve user experience for their hospital and physician networks.

“Ivy is pleased to be joining a company with a similar foundation in leveraging technology and exceptional service to provide the best marketplace solutions,” said Roger Johnson, a founding partner of Ivy Ventures. “We look forward to offering Centauri’s unparalleled suite of revenue cycle optimization solutions to our long-term marquee clients to support their revenue growth in new ways.”

For Centauri, the addition of Ivy marks its fourth strategic acquisition in the hospital sector in less than 12 months. In December 2019, Centauri acquired Integrated Health Management Services, a Phoenix-based provider of revenue-cycle management services. Earlier this year, Centauri acquired HCFS, a Texas-based provider of self-pay management solutions, and AppRev, a Texas-based healthcare revenue cycle analytics company.

“Adding Ivy’s industry-leading referral management and analytics offerings to our growing portfolio expands the breadth and depth of our revenue cycle optimization solutions,” said Adam Miller, Centauri CEO and co-founder. “As we join forces with companies with complementary strengths, our goal is to provide our present and future health system clients with a full suite of services enabling them to streamline their vendor management processes and create efficiencies.”

The combined organization will be led by Miller, with Ivy’s founding partners, Johnson and Douglas Wetmore, and partners, Milan diPierro and Barrett Clark, joining Centauri’s management team.

The Ivy transaction was supported by Centauri’s lead investor, Abry Partners, and its other key investors, Silversmith Capital Partners and SV Health Investors. 7 Mile Advisors acted as the exclusive sellside advisor to Ivy. Weiss Brown LLP served as legal counsel to Centauri. Whiteford Taylor Preston was legal counsel to Ivy. Financial terms of the acquisition were not disclosed.

About Centauri Health Solutions

Centauri Health Solutions provides services to payors and providers across all healthcare programs, including Medicare, Medicaid, Commercial and Exchange. In partnership with our clients, we improve the lives and health outcomes of the members and patients we touch through compassionate outreach, sophisticated analytics, and data-driven solutions. Our services directly address complex problems such as uncompensated care within health systems; appropriate, risk-adjusted revenue for specialized sub-populations; and improve access to and quality of care measurement. Headquartered in Scottsdale, Ariz., Centauri Health Solutions employs 1,700 dedicated associates across the country. Centauri has ranked in the Top 500 on Inc. Magazine’s 2019 and 2020 Inc. 5000 lists of the fastest-growing private companies in the U.S. For more information, visit www.centaurihs.com.

About Abry Partners

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information on Abry, please visit www.abry.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, LifeStance Health, MediQuant, Panalgo, Unily, Validity, and Webflow. The partners have over 75 years of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmithcapital.com.

About SV Health Investors

SV Health Investors is a leading healthcare fund manager investing in tomorrow’s healthcare breakthroughs. SV invests across stages, geographic regions and sectors, with expertise spanning healthcare services / technology, medical products, biotechnology, dementia and public equities. With approximately $2.2B in assets under management and offices in Boston and London, SV has built an extensive network of investment professionals and experienced industry veterans. Since its founding in 1993, SV has invested in more than 175 companies, with more than 75 of these having achieved successful acquisitions or IPOs. For more information, please visit www.svhealthinvestors.com.

Contacts

Gretchen Adin | Director, Marketing & Communications

Gretchen.Adin@centaurihs.com | 480.418.3447

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Onex Completes Majority Investment in OneDigital

Onex

One of the Largest Employee Benefits and Retirement Advisors –
Toronto, November16,2020–

Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the“Onex Group”)today announced it has completed a majority investment in OneDigital,a leading U.S. provider of employee benefits insurance brokerage and retirement consulting services. The new equity investment was made by OnexPartners V and certain co-investors. New Mountain Capital, the former majority shareholder, and OneDigital employees have rolled a significant portion of their existing investments into the transaction.

About Onex
Founded in 1984,Onex invests and manages capital on behalf of its shareholders, institutional investors and high networth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe;ONCAP, private equity funds focused on middle market and smaller opportunities in NorthAmerica; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private creditstrategies; andGluskin Sheff’s wealth management services including its actively managed public equity and public creditfunds. In total, Onex has approximately $36.6billion of assets under management, of which approximately $6.7billionis its ownshareholder capital. With offices in Toronto, NewYork, New Jersey and London, Onex and its experienced management teams arecollectively the largest investors across Onex’ platforms.
TheOnex Partners andONCAP businesses haveassets of$36billion, generateannualrevenuesof $22billion and employ approximately 149,000 people worldwide. Onex shares tradeon theToronto Stock Exchange under the stoc ksymbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About OneDigital

OneDigital is the leading strategic advisory firm in the U.S. and has consistently led from the front as a workplace ally for 20 years. OneDigital’s unique ability to converge health, wealth and human resources into ahub of services and business guidancehas empowered companies to create workplaces that attract and retain talent while fueling innovation and company growth. As employee healthcare, wellness and workplace benefits continue to shift, companies of all sizes have relied on OneDigital’s exceptional advisory teams for counsel and its adjacent services, including employee benefits, holistic HR services, retirement and wealth management, employee wellbeing and pharmacy consulting. Headquartered in Atlanta, OneDigital’s more than 100 offices and 2,000 business strategists serve the needs of over 50,000 employers across the United States.

OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 12 companies to do so. Currently listed as 18th on Business Insurance’s list of 100 Largest U.S. Brokers, OneDigital’s deep analytic abilities and experienced advisors deliver insights that reduce business risk and improve plan design and performance. For more information, visit www.onedigital.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information
Jill Homenuk
Managing Director, Shareholder Relations and Communications
Tel: +1 416.362.7711

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Montagu to acquire ISI Emerging Markets Group

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, announces that it has agreed to acquire ISI Emerging Markets Group Ltd (“ISI”), the number one provider of macroeconomic, business and industry intelligence on global emerging markets, from CITIC Capital and Caixin Global. Completion of the sale is expected next month, subject to customary closing requirements.

We are pleased to have found a partner with a strong track-record and expertise in backing companies with similar business models to ours.

Aloisio Parente, CEO of ISI Emerging Markets Group

ISI is renowned globally as the leading provider of data, analysis and research for the world’s fastest growing and highest potential countries. It aggregates unstructured, hard-to-obtain information from local and international sources, and validates and curates it into standardised, methodologically consistent and editable content. The products are trusted tools used by a large and diversified customer base made up of blue-chip financial institutions, multinationals, consultants, and researchers worldwide and are available in over 15 languages. ISI operates a subscription model, providing customers with business-critical emerging markets research, leveraging real-time macroeconomic, business and industry intelligence across multiple use cases.

Aloisio Parente, CEO of ISI Emerging Markets Group, said: “Following the carve-out from Euromoney Institutional Investor in 2018, subsequent integration of CEIC and EMIS and investments into the sales network and content, ISI has become the prime source for comprehensive, high quality market intelligence on global emerging markets. We are pleased to have found a partner with a strong track-record and expertise in backing companies with similar business models to ours. We look forward to working with the Montagu team to grow the business by expanding our market coverage and investing in product offering to further enhance value to our customers.”

Pawel Czarnowski, Director at Montagu, said: “For more than 30 years, ISI has been a leading provider of macroeconomic, business and industry intelligence on global emerging markets. Its subscription-based information services are critical, trusted parts of its customers’ workflows. As a business with resilient revenue and loyal customers, that is also well-positioned to deliver accelerated growth opportunities, ISI is an excellent fit for Montagu’s investment strategy. We look forward to working with Aloisio and the team to support the business in this exciting next chapter of growth”.

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STG raises $2.0 billion for STG VI in a four-month fully virtual fundraise

Stg Partners

STG raises $2.0 billion for STG VI in a four-month fully virtual fundraise

STG VI exceeded its $1.5 billion target and was heavily oversubscribed

Palo Alto, CA – November 16, 2020 – STG Partners (“STG”, or the “Firm”), a leading private equity firm focused on investing in the software, data analytics and software-enabled technology services sectors, is pleased to announce the final closing of STG VI (the “Fund”) on $2.0 billion of committed capital, including limited partner commitments of $1.85 billion. The Fund exceeded its $1.5 billion target and was oversubscribed at its limited partner hard cap in approximately four months from formal launch of the fundraise, which was executed as an entirely virtual process. Evercore Private Funds Group acted as the exclusive global placement agent for the fundraise.

The Fund will continue STG’s value-oriented investment strategy focused on middle market investments in the enterprise software and software-enabled technology services sectors. STG distinguishes itself through a value-oriented and operationally-focused approach to transforming middle market companies in its sectors into market leaders. Since Symphony’s founding in 2002, STG has cultivated its reputation as a premier investment firm in the space through its continued ability to drive operational efficiencies, top-line enhancement, and breakout innovation within portfolio companies.

STG VI launched in June 2020 amidst the COVID-19 pandemic and resulting shutdown. With investors unable to meet in person, STG moved ahead with a virtual process, driven by high conviction in the robust market opportunity for STG’s differentiated, value-oriented strategy within the technology sector and top quartile performance of STG’s predecessor funds across market cycles. STG made extensive use of video conferencing to meet with limited partners, as well as virtual due diligence sessions including an investor diligence day webcast to further showcase the organization in the absence of in-person meetings or events. STG VI received strong support from existing investors, as well as a diverse group of new investors that includes public and corporate pensions, insurance companies, endowments and foundations, family offices, consultants, and asset managers from North America, Europe, and Asia.

On behalf of the leadership team of the Firm, William Chisholm, Managing Partner and Chief Investment Officer, commented: “We are incredibly grateful to our existing and new investors for their support, especially given the context of the unprecedented environment in which we raised STG VI. We are excited about the opportunity ahead for the Fund, as well as the team and platform we have in place as we head into the next chapter for STG.”

Richard Anthony, CEO of Evercore Private Funds Group, stated: “We are delighted to have once again advised STG on another highly successful fundraise, executed in a fully virtual environment. The expediency of the raise to its hard cap speaks volumes about the caliber of William and his team at STG.”

Kirkland & Ellis LLP acted as legal counsel to STG.

About STG Partners

STG is the private equity partner to market leading companies in software, data analytics and software-enabled technology services sectors. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world class management teams. STG and its predecessor, Symphony Technology Group (“Symphony”), have raised approximately $5.0 billion in total capital commitments across five funds and their expansive portfolio has consisted of more than 30 global companies. For more information, please visit www.stgpartners.com.

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EQT acquires majority stake in thinkproject, Europe’s leading SaaS construction intelligence platform

eqt

  • EQT IX acquires a majority stake in thinkproject, Europe’s leading SaaS provider of construction intelligence solutions for the Architecture, Engineering, Construction and Owner-operated (AECO) industry
  • thinkproject helps improve its customers’ delivery times, reduce waste and energy consumption, while improving sustainability in one of the key carbon emitting industries globally. Its software product suite covers the full construction lifecycle and is driving digitization in one of the largest but least digitally penetrated industries
  • EQT aims to accelerate thinkproject’s growth through its strong commitment towards sustainability and digitization, and to support product extension, geographical expansion, and consolidation of the fragmented construction software space

EQT is pleased to announce that the EQT IX fund (“EQT IX”) has acquired a majority stake in thinkproject (“the Company”) from TA Associates (“TA”) and thinkproject’s founder Thomas Bachmaier. TA, Thomas Bachmaier and the management team will re-invest significantly into the Company in the context of this transaction. thinkproject’s management team, led by CEO Gareth Burton and CFO Ralf Gruesshaber, will continue to lead the Company and build on its strong track record of growth and innovation.

Founded in 2000 and headquartered in Munich, thinkproject serves more than 250,000 users in over 60 countries. Its cloud-delivered, integrated digital solutions help customers be more efficient, cost-effective and simplify their digital transformation across the construction lifecycle. The Company employs around 450 people and its software is used by 2,750 customers across international private and public asset owners, project developers, and general contractors.

thinkproject’s underlying end market, the construction industry, is one of the largest and least digitized industries globally. In recent years, the AECO industry has seen an accelerated digitization momentum and widespread technological adoption. This shift is driven by multiple secular trends, including stagnant productivity, growing cost pressure, increasing regulation, a demographic move towards a new generation with greater IT affinity and focus on sustainability. By improving delivery times and reducing waste and energy consumption, thinkproject helps cut emissions in one of the key carbon emitting industries globally. The Company’s efforts in this field are contributing to the United Nations Sustainable Development Goal #12, “Responsible Consumption and Production”.

thinkproject’s management team has executed on a strategic growth agenda with a focus on digitization, technological innovation and sustainability across several levers. EQT intends to support the current direction taken by the management team by further growing the Company’s global customer base, backing product extension, geographical expansion and supporting a consolidation of the fragmented construction software space. thinkproject is expected to leverage the full EQT platform during its next phase of growth, including EQT’s digital and sustainability expertise, local-with-locals presence across Europe and Asia-Pacific, and domain experience. Moreover, the Company will be supported by the EQT Network, including advisors from EQT’s software, real estate and infrastructure space.

Florian Funk, Partner at EQT Partners, said: “For us, thinkproject represents a truly thematic investment at the intersection of EQT’s two core value creation pillars, sustainability and digitization. After having followed thinkproject over the last couple of years, we are thrilled by the opportunity to work together with the management team and TA Associates to further develop this exciting company. This investment is perfectly aligned with EQT’s core focus of investing in high growth companies and partnering with world class management teams. We are truly impressed by the market leading position thinkproject has built and EQT is excited to support its vision of becoming a global champion.”

Gareth Burton, CEO of thinkproject, said: “EQT is one of the most active and successful private equity investors in the TMT sector with a very profound expertise specifically in the construction sector. thinkproject’s management team and EQT both share the strong conviction around the sector’s fundamentally attractive growth dynamics as well as thinkproject’s ability to further build out its excellent market leadership position and to build the leading global construction intelligence platform. thinkproject continuously strives to serve our customers to help construct a better world.”

Morgan Seigler, Managing Director at TA Associates, said: “Since our investment four years ago, the thinkproject management team has demonstrated an exceptional commitment to the company’s strategic growth initiatives and customers. We believe that these efforts have helped thinkproject transform into Europe’s leading SaaS provider of construction intelligence solutions for the AECO industry. We are thrilled to welcome EQT as our new partner, and we look forward to working with them alongside the thinkproject management team during the company’s next phase of growth.”

The transaction is subject to customary closing conditions and regulatory approvals. It is expected to close by year end.

With this transaction, EQT IX is expected to be 15-20 percent invested, based on its target fund size.

Milbank acted as legal advisors to EQT. Arma Partners acted as financial advisors to thinkproject, and Hengeler Mueller and Travers Smith served as legal counsel.

Contact
Florian Funk, Partner at EQT Partners and Investment Advisor to EQT IX, +49 89 2554 9908
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Karolin Beck, CMO at thinkproject, karolin.beck@thinkproject.com, +49 173 671 4422
thinkproject press contact: Fabian Pecht / Samet Simsek, Havana Orange GmbH, thinkproject@havanaorange.de, +49 89 92 131 51 – 78/70

About EQT
EQT is a purpose-driven global investment organization with more than EUR 75 billion in raised capital and over EUR 46 billion in assets under management across 16 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About thinkproject
Based in Munich, Germany, thinkproject is a global leader in construction intelligence, unlocking the potential of people and information through digital technologies to enable better industry results. It is the leading Europe-based construction and engineering SaaS provider with 2,750 customers, more than 250,000 users in over 60 countries, and over 450 employees.

More info: www.thinkproject.com

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $3 billion per year. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong.

More info: www.ta.com

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CITIC Capital and Caixin Global Led Consortium Announces Full Exit from its Investment in Leading Market Intelligence Provider, ISI Emerging Markets Group

Citic Capital

CITIC Capital and Caixin Global Led Consortium Announces Full Exit from its Investment in Leading Market Intelligence Provider, ISI Emerging Markets Group

(Hong Kong, 16 November 2020) CITIC Capital Holdings Limited (“CITIC Capital”) announced today that a consortium led by its private equity arm and Caixin Global has agreed to a full exit from its investment in ISI Emerging Markets Group (“ISI”) through a sale to Montagu, a leading European private equity firm. Completion of the sale is expected next month, subject to customary closing requirements.
ISI Emerging Markets Group is a leading provider of critical, hard-to-obtain macroeconomic, company and industry digital intelligence for the emerging markets. Subsequent to the carve-out from Euromoney Institutional Investor Plc in 2018 led by CITIC Capital and Caixin Global, the two brands CEIC and EMIS, were successfully integrated under ISI Emerging Markets Group, providing access to 220 million pieces of content from over 6,000 high-quality sources and available in over 15 languages to customers across the globe.

Yichen ZHANG, Chairman & CEO of CITIC Capital said: “We are delighted to have supported ISI’s management team through a period of strong financial performance and organizational development. During our investment, we worked closely with the team to continue to expand ISI’s technology capabilities, product offering and organization, and to deliver robust growth in its subscription numbers, revenue and profitability. With the support from CITIC Capital and Caixin Global, the company also expanded its sales network and enhanced its data coverage, particularly in the rapidly growing China market. ISI has successfully built a resilient business as proven in the global pandemic environment.”
He added: “ISI is another great example of how we unlock value in carve-out deals. Having completed seven carve-outs in recent years, we moved quickly to fully integrate and realize significant synergies between the CEIC and EMIS businesses. We believe the company is well on track to deliver significant future growth.”

HU Shuli, Chairwoman of Caixin Global said: “In the changing world and amid China’s opening of its capital markets, Caixin is devoted to building a financial information and data platform based in China with global impact. Our cooperation with ISI during this time has been effective, particularly as we have brought CEIC deeper into the Chinese market, and brought new opportunities for its development and operation on mobile platforms. We will continue to keep working with ISI and develop the good relationship. Meanwhile, Caixin will continue investing and empowering global data and research institutions. ”

ISI, alongside Focus Media, Omnivision and UCO, is one of the TMT companies invested in by CITIC Capital Partners. These companies have outperformed despite the pandemic. CITIC Capital believes that this space is one of the most active and exciting sectors in China, and will continue to invest in and to focus on opportunities in this area.
– End –

Note: HSBC is acting as sole financial adviser and Gibson, Dunn & Crutcher UK and White & Case are acting as legal advisers to CITIC Capital on the transaction.

About ISI Emerging Markets Group
ISI Emerging Markets Group has been providing world class data, analysis, and research on emerging markets for over 25 years. ISI is comprised of two brands, CEIC and EMIS, which provide critical macroeconomic, company, and industry information under a subscription-based model. ISI has over 540 employees based in 19 offices across the globe.

About CITIC Capital
Founded in 2002, CITIC Capital Holdings Limited is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multiple asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 150 portfolio companies that span 11 sectors and employ over 770,000 people around the world.

CITIC Capital’s private equity arm, CITIC Capital Partners, focuses on control buyout opportunities globally and has completed over 70 investments since inception across China, Japan, U.S., Europe, etc. CITIC Capital Partners currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.

About Caixin Global
Caixin Global is one of the most respected sources of macroeconomic, financial and business intelligence on China. Built on Caixin Media’s award winning journalism, Caixin Global delivers fast, reliable business and financial news about China to the world. It offers its English news via a 24/7 digital and mobile platform (caixinglobal.com), and runs a print magazine.
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KKR Invests in CMC Machinery to Drive Innovation in Sustainable Packaging

KKR

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KKR Invests in CMC Machinery to Drive Innovation in Sustainable Packaging

November 16, 2020

Investment is part of KKR’s Global Impact strategy, helping deliver commercial solutions to significant societal challenges

LONDON–(BUSINESS WIRE)–

Leading global investment firm KKR today announced an investment in CMC Machinery, a manufacturer of automated packaging solutions in Italy. Financial details of the transaction were not disclosed.

Founded in 1980 and headquartered in Città di Castello, CMC Machinery is a premium provider of innovative e-commerce 3D on-demand packaging, using advanced end-of-line technology to improve environmental impact by reducing the consumption of packaging materials. The company is led by the Ponti family and employs a team of approximately 200 based in the Umbria region, specializing in the design and manufacturing of advanced automated packaging solutions for some of the world’s largest retail and logistics companies.

Following KKR’s investment, CMC Machinery will continue to be led by the Ponti family and headquartered in Città di Castello, with Founder Giuseppe Ponti’s sons, Francesco and Lorenzo Ponti, serving as CEO and COO respectively.

The on-demand packaging market has seen strong growth over the past few years in response to the surge in the e-commerce sector as more people around the world shift to purchasing items online, a trend accelerated by the impact of COVID-19. With volumes expected to grow even further, the environmental sustainability of the related activities is a critical area of focus. CMC Machinery’s innovative 3D technology is market-leading, offering sustainability benefits by producing on-demand custom made boxes that fit the product size, resulting in significant reduction of raw material and void filler used.

Giuseppe Ponti, Founder, President and Strategic Business Development Director of CMC Machinery, said: “We are very pleased to have KKR on board as an investor with a shared vision to inspire the future of packaging and e-commerce. With KKR’s support, we are excited to continue on our journey, expanding our operations which will remain firmly rooted in the Umbria region to address an increasingly global market with sustainable packaging solutions.”

Stanislas de Joussineau, Director at KKR and Head of Global Impact in EMEA, said: “CMC Machinery’s market-leading innovation in sustainable packaging aligns well with the objectives of KKR’s mission to invest in companies that are providing solutions to critical challenges. We are excited to have the opportunity to work closely with the Ponti family on this important endeavor to drive innovation and promote sustainability across the global retail sector, particularly at this critical time for the industry as retailers increasingly seek to minimize their impact on the environment.”

Pedro Godinho Ramos, Principal at KKR’s Global Impact team in EMEA, said: “CMC Machinery is recognized as a leader in the sector, a testament to the passion and commitment of the Ponti family and their team, who have seen their factories in Città di Castello grow to supply customers around the world. We look forward to supporting them in scaling even further using KKR’s global platform and resources.”

The investment in CMC Machinery is the fourth in Europe by the KKR Global Impact Fund, following investments in MasterD, the leading vocational training company in Spain, The Citation Group, a leading provider of subscription-based HR and Employment law and Health & Safety services to SMEs in the UK, and Viridor, the UK’s leading recycling and responsible waste management company.

KKR Global Impact is focused on identifying and investing behind opportunities where financial performance and societal impact are intrinsically aligned. Specifically, the Fund is focused on generating risk-adjusted returns by investing in companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”). CMC Machinery’s business directly contributes toward SDG #12 (Responsible Consumption and Production) as their innovative packaging solution fits boxes to product size, enabling their e-commerce clients to use less material inputs, reducing waste.

In Italy, KKR has invested over €2.5bn across private equity, infrastructure and other asset classes, with investments including Selecta, MM and Sirti, employing 17,000 people across its portfolio companies. The firm has a long track record of working with entrepreneurial owners and founder-backed businesses across Europe, supporting these companies with the next stage of their growth ambitions by providing financial and operational expertise as well as access to KKR’s global network and resources.

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About CMC Machinery

Based in Città di Castello, Italy, CMC Spa is a privately held company that designs, manufactures and supports the most innovative and disruptive technology for the mailing, graphic arts, ecommerce and logistics industry. Founded in 1980, the company has focused on strategies to retain customers becoming their sole supplier for technology, service, parts and professional technical training. CMC has always been on track to timely respond to the ever-changing market requirements with creative design engineering and bespoke solutions. With the ecommerce surge reshaping the parcel industry, today CMC is helping retailers and logistics company to optimise their fulfilment process and deliver sustainable, strong, highly personalised and safe boxes through the much acclaimed and multi award winning CMC 3D right sizing packaging technology. For additional information about CMC please visit CMC’s website at www.cmcmachinery.com

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
KKR: Italy
Pasquo Cicchini
Community Group
pasquo.cicchini@communitygroup.it

KKR: International
Alastair Elwen / Alice Neave
Finsbury
+44 (0)20 7251 3801
kkr@finsbury.com

Source: KKR

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Bain Capital Real Estate and Magnolia Capital Form Joint Venture to Invest in Multifamily Housing

BainCapital

November 16, 2020

BOSTON, MA and CHICAGO, IL, November 16, 2020 – Bain Capital Real Estate and Magnolia Capital today announced the formation of a joint venture to pursue opportunities to acquire, renovate and operate value-added multifamily housing in primary and secondary markets throughout the U.S.  The joint venture launches with the objective of deploying $900 million of gross capital over the next several years.

Bain Capital Real Estate and Magnolia Capital will initially focus on acquisitions in compelling Sunbelt markets, with a plan to purchase multifamily properties that have a “value-add” component, including executing capital upgrades to unit interiors, building exteriors and amenity spaces, and improving property operations through proactive asset and property management strategies.  The venture will target well located, garden-style properties constructed between 1975-2000 with a rent profile that serves a middle income demographic.

“We believe this is a compelling opportunity to invest in markets where employment is expanding and at a time when multifamily housing in established neighborhoods continues to present attractive underlying fundamentals,” said Kavindi Wickremage, a Managing Director at Bain Capital Real Estate.  “Our partnership with Magnolia Capital is rooted in our thesis that there is a long-term need for middle income housing, particularly in growing U.S. markets where housing affordability continues to worsen. We look forward to a productive and lasting partnership as we seek to increase the availability of housing that features compelling amenities at affordable price points.”

“Bain Capital Real Estate has a long-standing reputation as a thoughtful, value add investor which shares our conviction for the multifamily housing space,” said Maxwell Peek, Founder, CEO & Managing Principal at Magnolia Capital.  “We are excited to join forces as we launch this well-capitalized and differentiated partnership.  Magnolia Capital has built an institutional, data driven investment platform with extensive multifamily expertise.  We are appreciative of the opportunity to partner with Bain Capital Real Estate, and together look forward to executing on our investment strategy to acquire and operate institutional-quality multifamily housing in demand-driven growth markets throughout the U.S.”

Incubation Capital Partners advised the parties to this venture with capital placement services.
About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services.  The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $4 billion of equity in over 400 assets across multiple sectors.  Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities.

About Magnolia Capital Group 
Magnolia Capital is a vertically integrated real estate investment firm focused on identifying and creating value within the multifamily investment space.  The company’s founding principals have a distinctive blend of institutional real estate investment experience combined with a deep knowledge of technology and operational efficiencies.  Magnolia currently manages over $1.8 billion of real estate, representing 6,600+ units in fourteen markets across the United States.  For more information please visit www.magnoliacap.com.

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