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Cinven to sell Tractel

Cinven

International private equity firm, Cinven, today announces that it has agreed to sell Tractel (‘the Company’), a world leading safety specialist providing reliable, innovative and cost-effective working-at-height solutions and services, to Alimak Group AB, for an Enterprise Value of approximately €500m.

Established in 1941 and headquartered in Luxembourg, Tractel provides working-at-height solutions and services used in many end-user applications, including in industrial, construction, energy, telecommunications and infrastructure projects. The Company has global operations, including manufacturing facilities spanning Europe, North America, China, Singapore and Turkey, which are supported by dedicated centres of excellence in R&D, engineering and safety standards. Tractel has a global network of more than 10,000 industrial distributors in 120 countries. This network of expertise, experience and geographical locations allows Tractel to achieve global reach with a local presence.

Cinven has a successful track record of investing in the Industrials Sector, and the sale of Tractel is another milestone in a very active two year period for the firm, despite global challenges, with the firm’s funds successfully realising investments in Chryso and Envirotainer, alongside making new investments in TK Elevator, a leading service provider and manufacturer of elevators and escalators, Arxada (formerly Lonza Specialty Ingredients), a leading provider of specialty chemicals for microbial control, and Bayer Environmental Science, a global leader in specialty pest management (completion pending).

Cinven’s Industrials Sector team, working closely with Cinven’s French team, identified Tractel as an attractive investment opportunity and the business was acquired by the Fifth Cinven Fund in October 2015. Cinven has worked in close partnership with the Company to achieve strong performance during its ownership, including through:

  • Successfully growing the business through buy-and-build M&A, including completing two sizeable bolt-on acquisitions in the US and the Nordic region;
  • Strengthening the management team with expertise from across the sector;
  • Implementing international best practices to deliver commercial excellence, drive organic growth and optimise the operating model;
  • International expansion, notably through significant growth in the United States and in the Nordics; and
  • Enhancing Tractel’s product and service offering through significant investment in R&D and innovation.

Commenting on the investment, Pontus Pettersson, Partner at Cinven, said:

“Under Cinven’s ownership, Tractel has completed the acquisition of two significant businesses, successfully developing the brand and expanding the business. This has reinforced the strategic value of Tractel, and helped position the business for a trade exit. The combination of Tractel and Alimak will create a leading global business with significant opportunity for future growth, in a market where there is substantial room for further penetration of its products and services. We wish them the best in this next phase of their growth journey”.

Philippe Gastineau, CEO of Tractel, added:

“Cinven has provided significant support to Tractel over the last few years, most notably with two considerable acquisitions which have allowed us to expand substantially into our core markets. With increased investment in the development and innovation of our products, we now provide best-in-class solutions to our customers and clients and in turn, have become a world-leader in the working-at-height solutions market. We look forward to the next chapter of our growth journey as part of the Alimak Group”. 

Completion of the transaction is subject to customary regulatory and antitrust approvals.

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IK Partners has its GHG emissions reduction targets validated by the Science Based Targets initiative

IK Partners

IK Partners (“IK”) is pleased to announce that its greenhouse gas (“GHG”) emissions reduction targets have been validated by the Science Based Targets initiative (“SBTi”). These targets are consistent with the levels required to meet the Paris Agreement goals and limit global warming to 1.5°C.

Climate change is a global threat posing significant risk to the global economy, people and environment. The latest report published by the Intergovernmental Panel on Climate Change warns that global warming is on track to reach 1.5°C during the next two decades. However, the report also emphasises that there is an opportunity to limit the temperature increase. This would require synergy in action of multiple stakeholders and a drastic reduction in global emissions to half by 2030 and achieving net zero by 2050. Setting science-based targets (“SBTs”) provides clear guidance around emission reductions aligned with the climate science and sends a powerful message to peers and the industry regarding decarbonisation.

IK has committed to:

  • Reducing absolute Scope 1 and Scope 2 GHG emissions by 54% by 2030 from a 2019 base year; and
  • In Scope 3 (portfolio target) achieving 26% of its eligible private equity (“PE”) investments by invested capital setting SBTi-validated targets by 2026 and 100% by 2040 from a 2021 base year.

In light of this new milestone in IK’s environmental, social and governance (“ESG”) journey, Christopher Masek, Chief Executive Officer, said: “I am delighted that IK is amongst the leading PE firms that have had their SBTs approved by the SBTi. This measurable commitment will be an important part of our approach to ESG integration and will support the continued success of both our firm and portfolio companies, beyond financial metrics, thereby enabling us to continue delivering superior returns to our investors.”

Jovana Stopic, ESG Manager, added: “It is clear from recent research that action to reduce the catastrophic impacts of climate change is overdue and must be accelerated. We recognise that businesses like ours can play a key role in this transition and SBTs are an important element in preparation for the business challenges and opportunities related to decarbonisation.”

ENDS

Disclaimer

Any greenhouse gas emissions reductions, diversity, equality and inclusion, ESG or impact goals, targets, commitments, incentives or initiatives outlined in this document have not been established for any particular fund or investment strategy, are not binding on investment decisions or the management or stewardship of investments for the purposes of Regulation (EU) 2019/2088 and do not constitute a guarantee, promise or commitment regarding any actual or potential ESG impacts or outcomes associated with investments made by funds managed and/or advised by IK Partners, unless otherwise specified in the relevant fund documentation. IK Partners has established, and may in the future establish, ESG or impact goals, targets, commitments, incentives or initiatives, including but not limited to, those targeting greenhouse gas emissions reductions, diversity, equity and inclusion or alignment with the UN Sustainable Development Goals. Any measures implemented in respect of greenhouse gas emissions reductions, diversity, equality and inclusion, ESG or impact goals, targets, commitments, incentives or initiatives may not be implemented in respect of or may not be immediately applicable to the investments of every fund managed and/or advised by IK Partners and any implementation may be overridden or ignored at the sole discretion of IK Partners.

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. www.sciencebasedtargets.org @sciencetargets

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AURELIUS Equity Opportunities successfully closes the sale of portfolio company Hammerl to BACHL Unternehmensgruppe

Aurelius Capital

Munich, August 2, 2022 – AURELIUS Equity Opportunities SE & Co. KGaA (“AURELIUS”; ISIN DE000A0JK2A8) announces the successfully closed sale of Hammerl GmbH (Hammerl), a leading manufacturer of blown film products in Germany, to Karl Bachl GmbH & Co KG (BACHL). 

AURELIUS’ operations experts closely supported Hammerl in its transformation and growth during its time under AURELIUS ownership, which began in 2016. Hammerl has established itself as a leading industry player, offers exceptional levels of expertise and maintains a reliable as well as large customer base, with recurring order cycles.

Hammerl was founded in 1956 and has been a pioneer in blown film production since 1977. The products are primarily used in civil engineering, building construction/fitout, renovation, gardening and landscaping. Hammerl is the only company in the German market to cover the entire product range consisting of construction films, special films, dimpled mats and vapour barrier films. The products, which are ‘Made in Germany’, are mainly supplied to wholesalers under their own brand.

BACHL itself is a well-established film producer operating throughout Europe and will stand to benefit from Hammerl’s expertise towards capitalising on its own corporate objectives.

AURELIUS was advised on the transaction by Clearwater International (M&A) and Gütt Olk Feldhaus und Wagensonner (Legal M&A).

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Ardian and Prelios Sgr finalize sale of an iconic building in Milan’s city center, to BNP Paribas Reim

Ardian

• The iconic building, located in Milan’s city centre, has been transformed under Ardian and Prelios’s ownership into a landmark asset with strong ESG and digital credentials
• The redevelopment the office building in Via Melzi D’Eril has seen the creation of a 5,700 square metres urban campus in one of the most exclusive, dynamic, and international areas of the city

Ardian, a world-leading private investment house, and Prelios SGR, one of Italy’s leading real estate and asset management companies, announced the sale  of an office building located in via Melzi D’Eril 34 in Milan to BNP Paribas REIM, one of the most important players in the European real estate market.

The building is located in one of the most exclusive areas of the city, between the Porta Nuova and CityLife districts, a few steps from Parco Sempione and the Arco della Pace, in a dynamic, international district. The proximity to several underground lines and to the Cadorna railway station, from which there is a connection to Malpensa airport, mean the asset is well-served by public transport.

The redevelopment project was conducted by Asti Architetti. It redesigned the early twentieth century building into a modern site, creating an urban campus of approximately 5,700 square metres of Gross Leasable Area (GLA). The asset now offers modern and flexible office space, including 300 square metres of panoramic terraces and another 300 square metres of rooftop with a privileged 360-degree view of the Milan skyline. There is also an exclusive 800 square metres garden that is unique for the centre of Milan.

The building will become the new headquarters of a leading IT consulting company and a notable co-working services company.

ESG was integral to the redevelopment project, in line with Ardian’s focus on environmental sustainability and tenants’ well-being. The building is one of a few to be aligned with the ambitious objectives set by the Paris Agreement in terms of CO2 emissions, aimed at limiting average global warming to well below 2 degrees Celsius.

As a result, the building has been certified as LEED Platinum, BREEAM Very Good and Well Silver, and is WiredScore compliant. These sustainability credentials have been achieved through the application of advanced technologies, including an Internet of Things (IoT) infrastructure that, combined with artificial intelligence, is able to monitor and minimize energy consumption. This automated and innovative management technology also ensures a unique and user-friendly campus experience.

Dils acted as commercial advisor for the transaction. Ardian and Prelios SGR were supported by Linklaters as legal advisor.

“Melzi d’Eril’s success demonstrates how the pandemic has shifted office market demand towards sustainable buildings that prioritise employee well-being. One of the main challenges that companies are experiencing is the ability to attract and retain talent. The campus, with its services, IoT infrastructure, common spaces and over 1,400 square meters of terraces and gardens, provides tenants with a unique and immersive experience in the heart of Milan. BNP has believed in this project for its resiliency thanks to its sustainability features and the low CO2 emissions that the building will produce between now and 2050, in line with the Paris Treaty.” MATTEO MINARDI, MANAGING DIRECTOR, ARDIAN REAL ESTATE

“The sale of Melzi d’Eril in the context of an uncertain and volatile market highlights the strength of Ardian’s strategy to create high quality, sustainable assets, aligned with the highest international ESG standards. We will continue to focus on acquiring and transforming secondary assets into green buildings amid growing institutional investor appetite for these sites.” RODOLFO PETROSINO, SENIOR MANAGING DIRECTOR, ARDIAN REAL ESTATE

“The excellent result we achieved with this operation consolidates our partnership with Ardian and confirms Prelios SGR’s leadership in value-added transactions and repositioning of historic buildings, particularly in the office sector. The Melzi d’Eril project looks to the future and to the ambitious sustainability targets that define the real estate sector, paying great attention to the environment and to the building’s historical authenticity, as well as contributing to valorising its prestigious location in a historic district in Milan. The interest shown by international tenants and investors in properties repositioned according to international best practices confirms the long-term sustainability of the Milan and Rome markets. This is also demonstrated by the recent launch of new operations by Prelios SGR in both cities.” PATRICK DEL BIGIO, CEO, PRELIOS SGR

Ardian

Ardian is a world leading private investment house, managing or advising $141bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

ardian.com

PRELIOS

Prelios SGR is a company in the Prelios Group and one of Italy’s largest asset managers. It is active in the promotion, creation and management of alternative real estate investment and credit funds, advisory and separate account management, for leading Italian and international institutional investors. Prelios SGR is a pioneer in the innovation of investment products, in terms of asset classes and typologies, in part through the management of one of the first externally managed SICAFs, and of the largest UTP fund in Italy and one of the largest in Europe. Prelios SGR has developed advanced standards and control systems in terms of governance, risk management and transparency, while maintaining operating flexibility. The company is also committed to promoting sustainability, as reflected in its adherence, since 2019, to the UN PRI – Principles for Responsible Investment and, since 2020, to the GRESB.

prelios.com

Media contacts

ARDIAN

IMAGE BUILDING

ardian@imagebuilding.it Tel: 39 02 89011 300

GRUPPO PRELIOS

pressoffice@prelios.com Tel: +39 02 6281.4176/4826

IMAGE BUILDING

prelios@imagebuilding.it Tel: 39 02 89011 300

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New Mountain Capital Announces Intent to Acquire PerkinElmer’s Applied, Food and Enterprise Services Businesses for up to $2.45 Billion

New Mountain Capital
NEW YORK, N.Y., August 1, 2022 – New Mountain Capital, a growth-oriented investment firm with over $37 billion in assets under management, today announced that it has entered into a definitive agreement with the intention to acquire PerkinElmer’s Applied, Food and Enterprise Services businesses, a carve-out from the Discovery & Analytical Solutions segment of PerkinElmer, Inc. (NYSE: PKI), for up to $2.45 billion in total consideration.The business being acquired includes PerkinElmer’s leading OneSource laboratory and field services, along with a portfolio of atomic spectroscopy, molecular spectroscopy, and chromatography instruments, consumables and reagents that serve the biopharma, food, environmental & safety and applied end markets.  The PerkinElmer brand will be transferred with the business, and the transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.

Andre Moura, Managing Director at New Mountain Capital, said: “PerkinElmer has a long history of market-leading innovation, and we are excited to partner with this dedicated team to support the next phase of growth. The business we are acquiring provides mission-critical solutions that enable scientists and researchers to perform their important work, including developing and manufacturing biopharmaceuticals, ensuring a cleaner and safer environment and food supply, and helping to provide high-quality products to demanding customers. New Mountain intends to continue to invest behind the business as we pursue a dynamic growth strategy.”

Joe Walker, Managing Director at New Mountain Capital, added: “We look forward to supporting the business as we invest in continued product innovation, cutting-edge technology, market expansion, add-on M&A and other strategic partnerships to further expand and build on the business’ strong value proposition to its customers and partners.”

Matt Holt, President of Private Equity and Managing Director at New Mountain Capital, added: “We view this investment as a platform for growth and business building at the intersection of two long-standing sector efforts, healthcare technology and life science materials & supplies. We plan to invest significantly in the resources of this business, for the benefit of all stakeholders including customers, the workforce and other business partners.”

Prahlad Singh, President and CEO of PerkinElmer, commented: “This milestone has been made possible by the hard work of our nearly 17,000 employees across the globe. It is validation of our people and the incredible businesses we have built. With this transaction, the Applied, Food and Enterprise Services businesses are gaining a partner who is committed to building on their record of success. Upon closing of the transaction, I believe both organizations will benefit significantly from increased focus and aligned investment on their unique market opportunities.”

New Mountain Capital was advised by Jefferies as exclusive financial advisor and Simpson Thacher & Bartlett as lead legal counsel. Owl Rock Capital, a division of Blue Owl, served as administrative agent and joint lead arranger for the credit facilities. Goldman Sachs & Co. LLC, Inc., is serving as exclusive financial advisor to PerkinElmer, with WilmerHale, McDermott Will & Emery, and Hogan Lovells serving as legal counsel to the Company.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and works intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.

About PerkinElmer

PerkinElmer is a leading, global provider of end-to-end solutions that help scientists, researchers and clinicians better diagnose disease, discover new and more personalized drugs, monitor the safety and quality of our food, and drive environmental and applied analysis excellence. With an 85-year legacy of advancing science and a mission of innovating for a healthier world, our dedicated team of more than 16,000 collaborates closely with commercial, government, academic and healthcare customers to deliver reagents, assays, instruments, automation, informatics and strategic services that accelerate workflows, deliver actionable insights and support improved decision making. We are also deeply committed to good corporate citizenship through our dynamic ESG and sustainability programs. The Company reported revenues of approximately $5 billion in 2021, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available at www.perkinelmer.com. Follow PerkinElmer on LinkedIn, Twitter, Facebook, Instagram, and YouTube.

New Mountain Capital Media Contact
Dana Gorman / Matthew Butler
Abernathy MacGregor
212-371-5999
dtg@abmac.com / msb@abmac.com

PerkinElmer Contacts

Investor Relations:
Steve Willoughby
(781) 663-5677
steve.willoughby@perkinelmer.com

Media Relations:
Chet Murray
(781) 663-5719
chet.murray@perkinelmer.com

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David van Hasselt appointed to Partner at Torqx Capital Partners

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Torqx Capital

Torqx Capital Partners (“Torqx”) is pleased to announce that David van Hasselt has been appointed to Partner.

Over the past years at Torqx David has built up a strong track record. As Investment Director he had a leading role in realizing deals and made high impact in our portfolio companies – specifically with Folat, Diamond Tools Group, Sonic Equipment and more recently driving our Carwash buy- & build. With his entrepreneurial mindset and creativity, he successfully connects with- and supports entrepreneurs and management teams, while simultaneously driving the development of the Torqx team.

Lennert Spek, Managing Partner at Torqx, comments: “We are very proud to have David join the partner team. It is impressive to see the strong connections he makes with founders and management teams to help drive business successes. We are looking forward to continuing building better companies together and wish him success in his new role.”

Categories: People

CDP Equity sells its equity investments in FSI SGR

CDP Logo

The transaction concerns the entire 39% stake held in the capital of the asset management company. The buyer is the same asset management company

The sale is in line with the CDP Group’s 2022-2024 Strategic Plan and in particular with the objective of disposing of the portfolio once the set goals have been achieved
Rome, 20 July 2022 – Cassa Depositi e Prestiti (CDP), through its subsidiary CDP Equity (CDPE), has completed the sale of the 39% stake in FSI SGR, thus disposing of the entire equity investment held. The buyer is FSI SGR.

For CDP, the transaction is in line with the 2022-2024 Strategic Plan and in particular with the principle of rationalisation and turnover of existing equity investments once the set goals have been achieved.

The transaction was carried out after obtaining the relevant authorisation from the Bank of Italy.

Following the sale, FSI will continue to develop as an independent and autonomous manager, having consolidated its role in the private equity sector in Italy.

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Bonnier Ventures invests in diagnostics company Elypta

Bonnier Ventures

Bonnier Ventures has become a minority owner in the Swedish diagnostics company Elypta. The company focuses on developing cutting-edge technology that uses liquid biopsies to detect early-stage cancer.

“We believe Elypta has huge potential to improve healthcare,” says Sofia Hasselberg, Investment Director at Bonnier Ventures.

Bonnier Ventures’ acquisition of a significant minority stake in Elypta is in line with its investment priority areas of health tech and precision medicine.

Elypta was founded in 2017 to develop the world’s first blood- and urine-test technology based on human metabolic biomarkers, for early detection and more frequent follow-up of cancer.

“Bonnier Ventures is proud to support Elypta’s strong team in their continued work. Through scientific innovation and software development, Elypta contributes to solving one of healthcare’s major challenges: reducing cancer mortality. The technology Elypta is developing is unique and enables the detection of many cancers before symptoms start to appear. In addition, Elypta’s technology does this in a cost-effective way that we have not seen before in the global healthcare market,” says Sofia Hasselberg of Bonnier Ventures.

The financing round for Elypta was led by Bonnier Ventures, in which existing shareholders Navigare Ventures, Industrifonden, Hillclimber, Norrsken VC, Nina Capital and Chalmers Ventures, among others, also participated.

Elypta will use the capital to develop and validate blood and urine tests for Multi-Cancer Early Detection (MCED) in adults with no symptoms of cancer and for detection of recurrence in kidney cancer patients.

“We are delighted to now have Bonnier Ventures among our owners. They are a financially strong, long-term investor adding significant networks and industry expertise to Elypta,” says Karl Bergman, CEO of Elypta.

“Our MCED test has the potential to greatly improve the share of cancers detected at the earliest stages, when treatment is more effective as well as less costly. Detecting Stage I cancer has been a particular challenge for DNA-based tests, and this is where metabolism-based biomarkers could really make a difference.”

 

For more information, please contact:

Sofia Hasselberg
Investment Director, Bonnier Ventures, sofia.hasselberg@bonnier.se,
tel. +46 70 916 37 60.

Karl Bergman
CEO, Elypta, karl.bergman@elypta.com,
tel: +46 73 262 53 33.

 

Press photos
https://www.bonnier.com/globalassets/news/2022/elypta_bonnier-ventures_pj_h_2022.jpg
https://www.bonnier.com/globalassets/news/2022/elypta_bonnier-ventures_pj_v_2022.jpg

Caption: Francesco Gatto, CSO & Founder Elypta, Karl Bergman, CEO Elypta and Sofia Hasselberg, Investment Director, Bonnier Ventures.
PHOTO: Peter Jönsson

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Bluegem III acquires Nutrimuscle

Bleugem

On July 12, 2022, Bluegem Capital Partners acquired Nutrimuscle (the “Company”), the leading French digital D2C community-driven brand in sustainable active nutrition, from Groupe Finoli and the management team.

Théo-Ange Copolata, the current CEO and shareholder of the company will reinvest into the business and remain as CEO to lead its expansion in the coming years.

 Headquartered in Paris with manufacturing operations in Belgium, Nutrimuscle is a pioneer and digitally native D2C brand in the fast-growing sport and health supplement markets. Founded in 1993 as an answer to a lack of good quality sport supplements in Europe, Nutrimuscle has a differentiated and superior value proposition based on natural ingredients, organic & clean formulas and transparent sourcing. The Company benefits from a large and fast-growing community of brand lovers with long history of unparalleled loyalty, engagement and repeat purchase behaviour.

The Company has best-in class digital marketing, e-commerce and community-management capabilities surpassing industry standards. Its end-to-end vertically integrated business model allows full traceability and control over the entire value chain. Nutrimuscle has strong R&D capabilities in new product development and formulation leveraging on a highly skilled team and long-term relationships with leading suppliers. The Company has a proprietary portfolio of over 100 products and 850 SKUs.

Nutrimuscle is highly focused on ESG practices as an “Entreprise à Mission” and on its path to become certified B-Corp by 2023.

Groupe Finoli acquired, alongside Théo-Ange Copolata, Nutrimuscle in 2018 from the Company’s founder and successfully transformed the business to position it as a fast growing brand while maintaining its core values. Since 2018, Nutrimuscle generated impressive organic growth track record with best-in class profitability. Today the group has 62 employees distributed over France (Paris) and Belgium (Aubange).

Théo-Ange Copolata, Shareholder and CEO of Nutrimuscle said:

“I am thrilled to pursue the phenomenous brand expansion we had since 2018 thanks to the brilliant support of Groupe Finoli and look forward to achieve a great implantation in Europe alongside Bluegem support and expertise”

Mathieu Develay, Partner of Bluegem, commented:

“We are very excited to partner with Nutrimuscle and have been impressed by Nutrimuscle’s commitment to clean-ingredient, traceable products with ESG factors at the core of the company’s values. We look forward to helping Nutrimuscle educate the public on nutrition and wellness, and expand its offerings beyond Nutrimuscle’s native French market.”

Emilio Di Spiezio Sardo, Founding Partner of Bluegem commented:

“With an ever increasing focus on health and nutrition we believe Nutrimuscle is a fantastic addition to the Bluegem III portfolio, which includes a diverse range of resilient consumer brands underpinned by megatrend tailwinds.”

Pierre Juhen and Grégory Declercq, co-CEOs of Groupe Finoli added:

“We are delighted to have worked alongside Théo and his team to achieve the impressive growth journey of Nutrimuscle since 2018, and we believe the brand and the team are now ideally positioned to further develop their footprint in France and accelerate their internationalization with the support of a skilled shareholder”

On the buyside, Oaklins acted as M&A advisor,  Alvarez & Marsal advised on finance DD, Arsene Taxand advised on tax DD and Agilys Avocats acted as Bluegem’s legal advisor. Marlborough Partners acted as financing and debt advisor, with Céréa and Indigo providing debt financing, and debt and equity financing respectively.

J.P. Morgan acted as exclusive sell-side financial advisor to Groupe Finoli. BCG carried out the vendor commercial DD while KPMG performed the vendor financial / IT / legal and tax DD. McDermott Will & Emery AARPI and Jeausserand-Audouard acted respectively as legal advisors for the shareholders and the management team.

BLUEGEM CAPITAL PARTNERS

Bluegem is a specialist consumer-focused private equity firm that partners with management teams and founders to accelerate growth of strong consumer brands. With a track record of investing across Europe through different economic cycles, industry and market conditions, Bluegem have refined their investment strategy to focus on resilient consumer segments benefiting from secular megatrends, including Beauty and Personal Care; Household Care; Food and Beverage; Baby Care; Pet Care; Consumer Health and Nutrition; and Hobby and Craft. More information about Bluegem can be found at www.bluegemcp.com.

GROUPE FINOLI

Groupe Finoli is a French industrial conglomerate founded in 2008, mainly active in the fields of beauty, wellbeing and healthcare. Through its subsidiaries and activity, the Finoli Group has been pursuing a vision of long-term development for over 10 years and promoting strong values: Excellence, Innovation, Ethics and Merit. The Finoli Group is a private, independent company controlled and managed by its founders.

Groupe Finoli is growing, with approximately 150 staff, a consolidated turnover of about 50 million euros and equity capital of over 200 million euros. Positioned in particularly buoyant and resilient markets, the Finoli Group foresees its development continuing rapidly, both organically and through external growth.

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Advent International to acquire up to a 10% per cent stake in YES BANK

MUMBAI, July 29, 2022 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has agreed to acquire up to a 10% per cent equity stake in YES BANK (“Bank”), the sixth largest private sector bank in India, as part of an overall $1.1 billion capital fundraise by the Bank.

The capital raised will bolster the capital adequacy of the Bank, thereby providing growth capital for the core business of the Bank. Once approved, this would be one of the largest private equity investments in the Indian banking sector.

This equity stake in YES BANK will be Advent’s first investment in a banking entity in India and Advent will have one nominee on the Bank’s Board following the transaction.

Commenting on the investment, Ms Shweta Jalan, Managing Partner at Advent, said, “We believe India’s banking sector is at an inflection point where tech-enabled banks like YES BANK have an advantage. This investment also demonstrates our commitment to the country’s banking and financial services industry, which is the core of India’s growth story. We think the Bank’s leadership team, led by Prashant Kumar, has done great work in reviving its performance over the last two years. We look forward to working with the Bank and to drawing on our sector expertise in supporting YES BANK in its next phase of sustained growth.”

Mr. Prashant Kumar, Managing Director & Chief Executive Officer, YES BANK said, “We are extremely pleased to onboard such pedigreed investors like Carlyle and Advent International as our partners, in fulfilling the long-term strategy of the Bank. This is a testimony to the inherent strength of the bank’s franchise. We are excited about the incremental opportunities that this partnership creates for us and confident that both the investors will play a crucial role in the next growth phase of the Bank.”

Headquartered in Mumbai, YES BANK is a Full Service Commercial Bank providing a range of products, services and technology driven digital offerings, catering to corporate, MSME and retail customers. Founded in 2004, it has a strong Pan India footprint with over 1,140 branches across all 28 states and 9 Union Territories in India. It also operates investment banking, merchant banking and brokerage businesses through YES Securities. The banks shares are listed on the National Stock Exchange and Bombay Stock Exchange.

Advent has been investing in India since 2007 and founded its Mumbai office in 2009. Currently, it has invested/committed almost $2.9 billion across 13 companies in sectors such as financial services, consumer products, healthcare, industrial and technology. Previous financial services investments include Aditya Birla Capital (a holding company for the financial services businesses of Aditya Birla Group) through which Advent has exposure to lending, asset management and insurance amongst others, and ASK Investment Managers Private Limited (a leading portfolio management service provider, real estate investment manager and wealth manager in India). New investments in the last twelve months include Eureka Forbes Ltd (health and safety solutions provider, with a presence in water purification, vacuum cleaning and other emerging categories), Encora (a global digital engineering services company specializing in software product development services for fast-growing enterprises and digitally-native companies) and Avra Labs (contract manufacturing and research services and specialty active pharmaceutical ingredients manufacturer).

Globally, Advent has invested over US$12.5 billion across 82 companies in business and financial services. Previous investments in banks include Addiko Bank (a universal bank operating in South Eastern Europe), Nubank (the largest independent digital bank in the world and based in Brazil) and Grupo Financiero Mifel (a leading Mexican mid-sized bank serving the retail segment and small and medium-sized companies).

The transaction is subject to closing conditions and relevant statutory and regulatory approvals.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of March 31, 2022, had $75.9 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:
Website:  www.adventinternational.com
LinkedIn:  www.linkedin.com/company/advent-international

 

About YES BANK

YES BANK is a ‘Full Service Commercial ‘Bank’ providing a complete range of products, services and technology driven digital offerings, catering to Retail, MSME as well as corporate clients. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES, a wholly owned subsidiary of the Bank. Headquartered in Mumbai, it has a pan-India presence including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank’s website www.yesbank.in

For further information, please contact:

YES BANK | Neha Chandwani
neha.chandwani@yesbank.in

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