Archives

Argos Wityu to acquire TKH France, leading French provider of smart connectivity solutions and connectivity products.

Argoswityu

The objectives are to accelerate growth in France and international expansion both organically and through build-ups, to increase digitalization, develop activities on selected markets bringing more value to customers and better address high potential trends as the Power over Ethernet (PoE).

Argos Wityu has provided its commitment to TKH Group, a technology company listed on Euronext Amsterdam, to become majority shareholder of TKH France and its two subsidiaries, CAE Data SAS and ID Cables SAS. TKH Group will become a 40% shareholder in the newly formed entity. This acquisition marks Argos Wityu’s seventh investment by its Mid-Market fund VIII.

The transaction is expected to close in Q3 2023, subject to the customary employee information and consultation procedures in France as well as necessary regulatory antitrust filings.

TKH France designs and distributes cabling and connectivity solutions addressing notably the smart building (tertiary & residential), industrial, marine & offshore, nuclear & infrastructure, healthcare and entertainment markets. With a turnover of €129.3 million in 2022 and 186 FTE, TKH France is the leading provider of cabling and connectivity solutions in France. The group’s value-added lies notably in its flexibility to design customized solutions with a short go-to-market. Moreover, TKH France enjoys a high product quality, excellence of service, a strong customer experience and best-in-class operations. In particular, the one-stop-shop characteristic relies on more than 12 000 references with strong technical and quality standards.

Thomas Ribéreau, Partner at Argos Wityu said “Argos Wityu is proud to have been chosen by TKH Group to further develop this very successful French connectivity solutions company. We are pleased that TKH Group will remain invested in the operations. We will strive to preserve the group’s DNA, developing its market-leader identity and the added value brought to its clients through its strong offer of products and services, and to structure its growth.”

Alexander van der Lof, CEO of TKH Group added: “With the announcement of this intended substantial divestment a next milestone in the roll out of our Accelerate 2025 strategy is reached. The value creation potential with a buy and build strategy for this activity can best be realized outside the TKH Group and we firmly believe that private equity firm Argos Wityu will bring the right experience and necessary focus to grow these activities into the next stage. For TKH, this divestment allows us to put further strategic focus on our differentiating and innovative power in smart technologies to drive added value at higher levels. By reinvesting part of the proceeds for a 40% share, TKH has the opportunity to further benefit from the value creation potential in the near future. TKH will continue to be active in France within Smart Connectivity systems with fibre optic network solutions under the brand TKF Telecom.”

Argos Wityu team: Thomas Ribéreau, Vincent Yacoub, Pierre Cassignol and Stanislas Guichot-Pérère

Buyer’s legal advisers: August Debouzy (Julien Aucomte, Laure Bonin, Maxime Legourd, Sophie Faulcon)
Buyer’s financial due diligence: EY (Emmanuel Picard, Fany Krieger, Maxime Reygrobellet)
Buyer’s strategic due diligence: Strategia (Jean Berg, Manon Clément)
Buyer’s tax advisers: Arsene Taxand (Franck Chaminade, Valentine Roulin)
Buyer’s ESG advisers: Axa Climate (Julien Famy, Théophile Bellouard)

Argos Wityu

Coralie Cornet
Director of Communications
ccc@argos.fund
+33 6 14 38 33 37

About Argos Wityu / argos.wityu.fund

One firm, two strategies. Argos Wityu is an independent European private-equity group that supports the growth of mid-sized business and back their management teams.

With more than €1.4bn assets under management, over 30 years of experience and more than 90 businesses assisted, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan, and Paris. The group seeks to acquire majority stakes and invests between €10m and €100m in each investment of its two strategies:

  • The Mid-Market fund helps companies implement ownership transitions to accelerate growth
  • The Climate Action fund aims at shaping European sustainable leaders by making their ‘grey-to-green’ transition.

Categories: News

IK Partners invests in Linxea-Irbis Group, joining existing investors NextStage AM and Matignon Investissement et Gestion

IK Partners

Paris, 31 May 2023 – Linxea Finance Group (“the Group”), Linxea.com (“Linxea”) and Irbis solutions —supported by NextStage AM and M3I (“Matignon Investissement”) since 2015, are welcoming new investment from IK Partners (“IK”) to launch a new phase of accelerated development. The transaction is subject to the approval of the AMF, the French financial markets regulator.

Over the past 20 years, Linxea has established itself as the leading independent online platform for the distribution of savings products in France. Since 2015, under the leadership of Antoine Delon and Yves Conan, Linxea has seen very strong growth with the support of NextStage AM and MI3. During this time, the platform has seen its client base grow from 20,000 to 90,000 as well as an increase in its assets under management from €800 million to €2.8 billion. Against the backdrop of a challenging macro-economic environment, the results for 2022, which included a record inflow of €600 million and over 20,000 new customers, are evidence of the solidity and relevance of the platform developed by the Linxea teams.

Irbis has also established itself as a French leader in the design of structured products distributed through a network of financial advisors, private banks and institutions. Since it deals with a growing asset class, 2022 was a busy year for the Irbis team. Generating over €1 billion in revenue, the team used its extensive digital skills to strengthen the range of services offered and develop new features for the Irbis Map tool.

The addition of IK to the shareholder base marks a new phase in the Group’s journey. Since 2015, the Group has digitalised all its processes under the leadership of Tiphaine de Labarre, Chief Product Officer and going forward, it aims to continuously improve the platform and offer new services, while also strengthening its teams. To support these efforts, the Group hired three new recruits at the beginning of the year: Vincent Riffier, Michaël Turjeman and Sébastien Raphanaud who hold the roles of Chief Technology Officer, Director of Operations and Director of the Asset Management Division respectively.

This added investment is also an opportunity for Antoine and Yves to reinforce the Group’s Management Committee which has recently seen the addition of three General Managers: Stanislas de Vasselot as Chief Financial Officer, Clément Lemaire as Deputy Chief Executive Officer of Irbis and Diane Larramendy as Chief Operations Officer who will be overseeing the Group’s digital development.

“We are proud to have succeeded in our ambition of becoming a leader in the distribution of online savings products since our acquisition in 2015. Our well-established track record in financial products has enabled us to consolidate the platform’s historical value proposition — the most diverse offering at the lowest price — and focus on providing the best digital customer experience for our users, thanks to a team of excellent managers. None of this would have been possible without the support of our financial shareholders, NextStage AM and M3I, who showed confidence in us during this initial development phase. The arrival of IK at the table signifies the beginning of a new stage in the history of the Group and we are excited to see what the next few years will bring”, said Antoine Delon, Co-Chair of the Linxea-Irbis Group along with Yves Conan.

“This strategic move provides an opportunity for us to recognise the progress made by the teams across the Group, particularly Antoine and Yves since 2015. Today, Linxea is in the best position to transform the savings market. The potential for innovation and a successful outcome is what convinced us to invest in the company in the first place and make it a key part of our platform. The success of Irbis’s offering is also proof of the fundamental transformation the Group has undergone in terms of its the savings product range and we are delighted to welcome IK to help us accelerate the Group’s development in a market that has, so far, only experienced the start of what will be a profound and lasting disruption,” added Jean-David Haas, Co-Founder of NextStage AM.

“We have been thoroughly impressed with the Group’s journey to date, especially in the way in which it has led the market in terms of offering innovative solutions which capitalise on market disruption. We are delighted at the level of confidence bestowed upon us by the Group’s management team as well as shareholders and we look forward to working with them to actively contribute to its continued development,” concluded Pierre Gallix, Managing Partner at IK and Advisor to the IK Small Cap III Fund.

 

Those involved in the operation:

Irbis Finance: Antoine Delon, Yves Conan, Stanislas de Vasselot, Clément Lemaire, Diane Larramendy
NextStage AM: Jean-David Haas, Arthur Vignéras, Marie-Pauline Noël
MI3: Christian Haas, Jérôme Dhamelincourt
IK Partners: Pierre Galix, Thibaut Richard, Florent Labiale, Paola Ismail
Cambon Partners (M&A Company): David Salabi, Nicolas Pirot, Victor Simal Aldéa, Alexandre Cuignet
Joffe et Associés (consulting firm): Thomas Saltiel, Camille Malbezin, Clémence Bressolin, Virginie Davion, Ayméric Dégremont
8 Advisory (VDD Finance): Emmanuel Riou, Alexandre Bengougam
Jeausserand-Audouard (management consultants): Ronan Lajoux, Patrick Loiseau
FIG Partners (M&A buy-side): Christophe Muyard
Winston & Strawn LLP (Buy-side legal advisors): Grine Lahreche, Audrey Szultz, Vincent Bourelly
Exelmans (Financial DD): Stéphane Dahan, Eric Chan, Océane Lambert
Ares&Co (Commercial DD) : Giovanni di Francesco, Thomas André
Singulier (Product & Tech DD): Claire-Marie Faucheux
KPMG: Florence Olivier et David Guiet (Legal DD), Albane Eglinger (Social DD), Vincent Maurel (Regulatory DD), Cédric Philibert (Tax DD)

Media contacts:

NextStage AM: Jonathan Boudin – jbo@nextstage.com – +33 (0)1 44 29 99 04
Shan: Laurence Tovi – laurence.tovi@shan.fr – +33 (0)6 20 58 29 02 / Lola Gozlan – lola.gozlan@shan.fr – +33 (0)1 42 86 82 47 / Anne-Laure Daulier – al.daulier@shan.fr – +33 (0)6 28 59 50 38
IK Partners: Vidya Verlkumar – vidya.verlkumar@ikpartners.com – +44 7787 558 193

About the Linxea-Irbis Group

The Linxea-Irbis Group benefits from the expertise of an experienced and established team that has been working in the market for over 15 years. Its mission is to provide a wide range of savings and structured products to as many people as possible.

Linxea – 58 avenue Hoche, 75008 Paris, France, Trade and Companies Register of Paris no. 478 958 762 Registered with ORIAS, the French Register of Insurance, Banking and Finance Intermediaries, under no. 07031073 as a COA (Insurance or Reinsurance Broker) and CIF (Financial Investment Advisor). Irbis Solutions – 58 avenue Hoche, 75008 Paris, France, Trade and Companies Register of Paris no. 891 835 126. Registered with ORIAS, the French Register of Insurance, Banking and Finance Intermediaries, under no. 21003488 as an Insurance Broker and Financial Investment Advisor, and member of the CNCGP, the National Chamber of Asset Management Consultancy. https://www.linxea.com/

Read More

About NextStage AM

An independent management company based in Paris approved by the AMF (French financial markets regulator), NextStage AM, which has cultivated an “entrepreneur/investor” philosophy since its inception in 2002, is one of the pioneers and leaders in innovative and patient development capital in France. NextStage AM has developed, step by step, a multi-strategy private equity platform that directly and indirectly represents, as of the end of December 2022, €7.5 billion assets under management. NextStage AM invests in a limited number of French and European innovative and growing SMEs and mid-sized companies (89 companies in its portfolio as of 31 December 2022), to which it provides entrepreneurial investor expertise and strong operational support (integration of environmental innovation, talent, international, external growth). NextStage AM provides long-term support to SMEs and mid-sized companies involved in digital health, environmental innovation and digital technology. It gives them the means to accelerate their development and capacity for innovation in order to become “champions” in their markets, both in France and internationally, through organic and/or external growth. https://www.nextstage-am.com

Read More

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 over 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

Read More

Categories: News

IMV Technologies Group acquires Veterinary Solutions

No Comments
Montagu

31.05.2023

IMV Technologies is delighted to announce the acquisition of Veterinary Solutions, a leading developer of veterinary digital radiography  X-Ray (DR X-Ray) systems and veterinary patient archiving and communication system (PACS) software, based in Belgium.

Veterinary Solutions will join the companion animal business of the IMV Technologies Group. Veterinary Solutions has a reach throughout Europe and under the leadership of Lode Leen, CEO Veterinary Solutions, has developed into one of Europe’s leading providers of veterinary imaging solutions.

Leen comments, “We are delighted to be joining the IMV Technologies Group.  This will provide us with the resources and market knowledge to take our business to the next level; IMV Technologies is a natural partnership for us in this exciting and growing market.”

We are delighted to be joining the IMV Technologies Group.

Lode Leen, CEO, Veterinary Solutions

Alain de Lambilly, CEO of IMV Technologies, adds,  “Veterinary Solutions is a great business and we are pleased to welcome Lode and his team into the IMV Technologies family. We have been impressed by Veterinary Solutions’ dedication to providing the best products and services to their clients across Europe.

 

Veterinary Solutions is a great business and we are pleased to welcome Lode and his team into the IMV Technologies family.

Alain de Lambilly, CEO, IMV Technologies

 

“At IMV, one of our core values is innovation and we recognise that Veterinary Solutions is committed to transforming the lives of veterinarians with their technologies and solutions. Veterinary Solutions will join our growing Companion Animal business, bringing additional experience, products, and software solutions to our comprehensive product range, further expanding our veterinary imaging offering across Europe.”

 

 

 

Categories: News

Tags:

KKR Acquires Industrial Warehouses Serving the Phoenix and Atlanta Markets

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of an industrial park in Phoenix, Arizona and an industrial warehouse in Atlanta, Georgia. The properties are both newly constructed Class A assets and were acquired in two separate transactions from two different sellers for an aggregate purchase price of approximately $250 million.

The Arizona property is strategically located in Phoenix’s Southwest Valley industrial submarket in close proximity to major transportation nodes including Interstate Highway 10 and Arizona State Route 101. The newly-delivered property consists of three high-quality Class A buildings totaling approximately 1.3 million square feet (“SF”).

The Georgia property is located in Palmetto, in close proximity to the CSX Fairburn Intermodal Terminal and the Atlanta airport. The property is a newly constructed Class A warehouse totaling approximately 700,000 SF.

“We are pleased to further expand our industrial footprint in these markets, which continue to benefit from attractive growth fundamentals including positive demographic trends and on-shoring manufacturing trends,” said Ben Brudney, a Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We are seeing resilient demand for high quality, well located industrial product and we believe despite near-term supply headwinds, industrial supply-demand fundamentals will remain attractive in the medium to long term.”

The purchases were made through KKR Real Estate Partners Americas III, KKR’s Americas opportunistic equity real estate fund. Across its funds in the U.S., KKR has committed or acquired approximately $7.5 billion of logistics assets in the industrial sector since 2018 and currently owns over 48 million SF of industrial real estate in major U.S. metropolitan areas.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media
Miles Radcliffe-Trenner and Emily Cummings
+1 212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

Egeria Announces the Sale of GoodLife Foods to IK Partners

Egeria

30 May, 2023 – Egeria Capital Management (“Egeria”) today announced that it has reached a conditional agreement to sell GoodLife Foods (the “Company”) to IK Partners (“IK”).

Headquartered in Breda, the Netherlands, GoodLife Foods is a leading European manufacturer of frozen snacks and meal components such as spring rolls, appetisers, burgers as well as cheese and vegetable bites. The Company offers a broad portfolio of branded and private label products which it sells to Retail, Foodservice and Industrial customers across Europe. GoodLife has over 700 employees with six manufacturing plants located across the Netherlands, Belgium and Denmark.

Formed by the carve-out of Izico from Wessanen in 2014, GoodLife has grown to become a fully integrated leading European frozen appetiser platform. Under Egeria, the Company acquired six companies in three different countries which was followed by years of strong organic growth.

Under the existing management team, GoodLife has gone from strength-to-strength and through its partnership with IK, it expects to further expand its product portfolio with on-trend frozen bites. It also plans to achieve further growth acceleration in- and outside of its core geographies through organic initiatives and buy-and-build.

Dirk Van de Walle, CEO at GoodLife Foods, stated: “We look forward to the next chapter which will see us working with the team at IK who have vast experience in the Food sector and can support us with our ambitious plans to internationalise through organic initiatives and M&A. I would also like to use the opportunity to thank Egeria. We are grateful for the support and opportunities that Egeria has provided GoodLife with over the past years.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK IX Fund, stated: “We have been impressed with GoodLife’s track record to date and its ability to continuously evolve its product portfolio to meet the needs of its customers. It has a diversified offering with further growth potential which can be unlocked in the years to come. With its solid foundation in place, we look forward to collaborating with Dirk and the team to develop the Company further.”

Sander van Keken, Partner at Egeria, stated: “It has been a true pleasure working with Dirk, Kamiel, Willem and the complete GoodLife organisation. We are proud that under our ownership Goodlife has transformed from a carved-out company primarily focused on the Benelux to a European company with a much broader product range of frozen snacks. I am confident that together with IK GoodLife will continue to expand across Europe whilst maintaining its unique and pleasant GoodLife culture.”

Completion of the transaction is subject to legal and regulatory approvals.

Categories: News

Tags:

IK Partners to acquire GoodLife Foods from Egeria

IK Partners (“IK”) is pleased to announce that the IK IX Fund has signed an agreement to acquire GoodLife Foods B.V. (“GoodLife Foods”, “GoodLife” or “the Company”), a leading European manufacturer of frozen snacks. IK is acquiring a majority stake from Egeria Capital Management (“Egeria”) alongside management who will be reinvesting. Financial terms of the transaction are not disclosed.

Headquartered in Breda, the Netherlands, GoodLife Foods is a leading European manufacturer of frozen snacks and meal components such as spring rolls, appetisers, burgers as well as cheese and vegetable bites. The Company offers a broad portfolio of branded and private label products which it sells to Retail, Foodservice and Industrial customers across Europe. GoodLife has over 700 employees with six manufacturing plants located across the Netherlands, Belgium and Denmark.

Formed by the carve-out of Izico from Wessanen in 2014, GoodLife has grown to become a fully integrated leading European frozen appetiser platform. Under Egeria, the Company acquired six companies in three different countries which was followed by years of strong organic growth.

Under the existing management team, GoodLife has gone from strength-to-strength and through its partnership with IK, it expects to further expand its product portfolio with on-trend frozen bites. It also plans to achieve further growth acceleration in- and outside of its core geographies through organic initiatives and buy-and-build.

Dirk Van de Walle, CEO at GoodLife Foods, stated: “We look forward to the next chapter which will see us working with the team at IK who have vast experience in the Food sector and can support us with our ambitious plans to internationalise through organic initiatives and M&A. I would also like to use the opportunity to thank Egeria. We are grateful for the support and opportunities that Egeria has provided GoodLife with over the past years.”

Remko Hilhorst, Managing Partner at IK and Advisor to the IK IX Fund, stated: “We have been impressed with GoodLife’s track record to date and its ability to continuously evolve its product portfolio to meet the needs of its customers. It has a diversified offering with further growth potential which can be unlocked in the years to come. With its solid foundation in place, we look forward to collaborating with Dirk and the team to develop the Company further.”

Sander van Keken, Partner at Egeria, stated: “It has been a true pleasure working with Dirk, Kamiel, Willem and the complete GoodLife organisation. We are proud that under our ownership Goodlife has transformed from a carved-out company primarily focused on the Benelux to a European company with a much broader product range of frozen snacks. I am confident that together with IK GoodLife will continue to expand across Europe whilst maintaining its unique and pleasant GoodLife culture.”

Completion of the transaction is subject to legal and regulatory approvals.

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

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 over 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

Read More

About GoodLife Foods B.V.

GoodLife Foods is one of Europe’s largest producers of both branded and private label frozen savoury food products. The Company has its headquarters in Breda, the Netherlands with production sites in the Netherlands, Belgium and Denmark. For more information, visit https://glfoods.com/en/

About Egeria

Established in 1997, Egeria is an independent Dutch investment company focused on mid-sized companies in the Netherlands and DACH region. For more information, visit https://egeriagroup.com/

Read More

Categories: News

Tags:

KKR Announces the Acquisition of a Residential Portfolio in Finland

KKR

First investment in the Nordics through KKR’s European Real Estate Core Plus strategy

STOCKHOLM–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR’s European real estate platform has agreed to acquire a high-quality portfolio of thirty residential properties in Finland (the “Portfolio”) from Kruunuasunnot. The Portfolio comprises over 1,200 residential units with two thirds of the portfolio located in the country’s three largest cities of Helsinki, Turku and Tampere.

This transaction is KKR’s first in the Nordic region through its European Core Plus Real Estate strategy, which invests in high-quality, substantially stabilised assets with medium-term value growth potential. Residential is a key sub-sector of KKR’s overall European real estate strategy, given its strong structural growth drivers, including population growth and urbanization to support greater demand for rental housing.

Commenting on the acquisition, Ian Williamson, Managing Director and Head of Core Plus Real Estate in Europe at KKR, said: “We’re delighted to enter the Finnish residential real estate market with this acquisition. This is our first residential investment in our recently launched European Core Plus strategy and builds on our broader European track record in the residential market. We believe the Finnish residential market has compelling fundamentals, underpinned by a stable economy and strong demand for urban rental housing. The entry basis and business plan align well with our strategy.”

Alexander Thams, Director and Head of Nordics Real Estate for KKR, added: “This transaction marks an important step in the growth of our Nordics real estate platform as we continue to accelerate our regional investment strategy. We are pleased to acquire a portfolio of high-quality assets with great potential that are meeting the needs of local tenants and the growing demand for rental housing.”

Avant Capital Partners, a Finnish boutique real estate investor and asset manager, will manage the portfolio providing local market expertise and asset management capabilities.

Commenting on the acquisition, Jussi Thusberg, Partner and co-founder of Avant Capital Partners, said: “We’re very keen to return to the Finnish residential space and to start working with KKR on this interesting transaction, which forms an excellent platform that we’re intending to grow further. The share of rental housing in relation to owner-occupier has increased in the past years which, supported by urbanization, we see as a trend that will continue to grow going forward as well.”

KKR has an established track record in the Nordic region, having invested over €6bn in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm, Sweden in June 2021. Recent investments in the region include Söderberg & Partners, Sector Alarm, Wolt, Nordic Bioscience, Caruna, Avida and a residential real estate joint venture in Denmark.

Krogerus is acting as legal advisor to KKR.

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.

Avant Capital Partners

Avant Capital Partners is a boutique real estate investment and asset management firm focusing primarily on Finnish real estate opportunities together with its investment partners. The Helsinki-based company has a substantial track record in investment and asset management as well as complex turnaround projects and property development, and it has completed over EUR 1.3Bn in investments with blue-chip partners since its inception in 2016. The company currently manages real estate investments worth in excess of EUR 1Bn.

Media Enquiries
KKR: Nordics
Fogel & Partners
Ludvig Gauffin
+46 70 222 60 30
kkr@fogelpartners.se

KKR: UK
FGS Global
Sophia Johnston
+44 20 7251 3801
KKR-LON@fgsglobal.com

Avant Capital Partners
Jussi Thusberg
Partner, co-founder
+358 400 778097
jussi.thusberg@avantcap.fi

Source: KKR

Categories: News

Tags:

Francesco Starace to join EQT Infrastructure as Partner – brings deep experience and expertise in energy and transition related industries

eqt
  • EQT is pleased to announce the appointment of Francesco Starace as Partner within the EQT Infrastructure Advisory Team
  • Francesco joins from the position as CEO and General Manager of Enel, one of the world’s largest energy utility companies and a leader in the sustainable energy transition
  • He will act as a dedicated advisor within the global EQT Infrastructure platform, working alongside more than 120 professionals

In his role, Francesco will provide senior insight to support investment activity, portfolio companies and strategic initiatives.

With a career in the energy sector spanning four decades, Francesco brings a wealth of industry experience from senior leadership positions, advisory boards, NGOs and public policy. As CEO of Enel, he was instrumental in driving the company’s efforts to phase out fossil-fueled energy production and invest in digital technologies, transforming it into one of the world’s largest renewable energy producers and the largest system of digitized electricity distribution grids.

Prior to becoming CEO of Enel, he headed Enel Green Power, the group’s renewable power generation company and a leading player in the global renewables industry from 2008 to 2014. In November 2010, he oversaw the initial public offering of the company and its listing on the Milan and Madrid Stock Exchanges with a market capitalization of €8 billion. Francesco is Chairman of the Board of the United Nations’ Sustainable Energy for All, a member of the Rockefeller Commission to End Energy Poverty and, in 2015, former Secretary-General Ban Ki-moon appointed him as a member of the Board of Directors of the United Nations’ Global Compact.

Lennart Blecher, Partner and Head of the Real Assets Advisory Team, said, “We are honored to welcome Francesco to join EQT Infrastructure as Partner. Francesco is a world-recognized thought leader in the area of energy transition and has led Enel to become a front runner in sustainable energy production. EQT sees significant potential in accelerating the momentum towards net-zero by driving decarbonization of the power and utilities or transportation and logistics sectors. Having Francesco join us on this journey, with his decades-long experience within the energy sector, is invaluable to both EQT and our portfolio companies.”

Francesco Starace, incoming Partner within the EQT Infrastructure Advisory Team, said, “The industrial transition pathway to net-zero is a gradual process that takes time and requires significant investment. This transition, if well managed, opens very large opportunities for value creation to those that understand its dynamics. Having observed EQT Infrastructure closely for years, I am deeply impressed by its level of innovation and commitment to support companies that help accelerate this transformational shift. I’m delighted to join EQT and I hope that my experience and network will contribute to the portfolio and unlock new investment opportunities.”

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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

Categories: People

Onex Completes Secondary Offering of Ryan Specialty

Onex

Toronto, Canada, May 25, 2023 – Onex Corporation (“Onex”) (TSX: ONEX) today announced the sale of approximately 8.2 million shares of Class A Common Stock of Ryan Specialty Holdings, Inc. (“Ryan Specialty”) (NYSE: RYAN). Ryan Specialty is a service provider of specialty products and solutions for insurance brokers, agents, and carriers.

Proceeds to Onex from this transaction were approximately $355 million. Onex continues to hold approximately 4.1 million shares of Class A Common Stock of Ryan Specialty.

A registration statement on Form S-3 was filed with the Securities and Exchange Commission (“SEC”) and became effective upon filing. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Onex
Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In total, Onex has $51.1 billion in assets under management, of which $7.8 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.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:
Onex
Jill Homenuk
Managing Director – Shareholder
Relations and Communications
Tel: +1 416.362.7711
Zev Korman
Vice President, Shareholder
Relations and Communications
Tel: +1 416.362.7711

Categories: News

Tags:

GHO Capital and Partners Group invest in Sterling Pharma Solutions, a leading pharmaceutical development and manufacturing organization

Partners Group

Baar-Zug, Switzerland; 25 May 2023

  • Since first partnering with GHO in 2019, Sterling Pharma Solutions has grown rapidly, tripling its revenues and quadrupling its earnings. Sterling is now the preferred partner to several leading pharmaceutical companies for handling the development of complex medicines and scaling up of manufacturing
  • Partners Group acquires a significant minority stake, bringing a wealth of healthcare expertise. GHO will remain Sterling’s majority shareholder and its new investment is supported by a consortium of investors, led by funds managed by AlpInvest Partners and Pantheon
  • The new investment will support Sterling’s growth trajectory in expanding production capacity across the UK, Europe, and the US, adding complementary capabilities and pursuing further strategic acquisitions

Global Healthcare Opportunities, or GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, and Partners Group, a leading global private markets firm, acting on behalf of its clients, today announce an investment in GHO portfolio company Sterling Pharma Solutions (“Sterling” or “the Company”), a global Contract Development and Manufacturing Organisation (“CDMO”).

Sterling provides a full range of CDMO services across the lifecycle of new, high-value active pharmaceutical ingredients (“APIs”) and is an industry leader in the early-stage development of antibody drug conjugates (“ADCs”), a fast-growing class of cancer treatments. Sterling handles the development of complex APIs and subsequent scaling up of manufacturing from pre-clinical to commercial scale. Sterling has five state-of-the-art manufacturing facilities in the US, UK, and Ireland. The Company benefits from a diversified blue-chip customer base and is a supply chain partner for the majority of the largest pharmaceutical companies.

Since partnering with GHO in 2019, Sterling has grown rapidly, both organically and through acquisition. The Company has transformed from a single-site UK CDMO to a global full-service complex small molecule API platform with differentiated chemistry capabilities. Sterling has tripled in revenues and quadrupled its earnings following strategically accretive M&A focused on capacity expansion, capability development, and a strategically relevant geographical footprint. Recently, Sterling’s acquisition of Novartis’ Ringaskiddy site saw the Company significantly increase its capacity, which included a long-term supply agreement with Novartis – reinforcing Sterling’s outstanding reputation within the pharmaceutical industry.

Partners Group acquires a significant minority stake, bringing a wealth of international healthcare expertise to the shareholder group and helping drive future value creation. GHO will remain Sterling’s majority shareholder and the current management team will continue to lead the Company. This new investment from GHO is supported by a consortium of investors, led by funds managed by AlpInvest Partners, a subsidiary of global investment firm Carlyle (NASDAQ: CG), and Pantheon.

The new investment will support Sterling as it accelerates its growth plans through the expansion of production capacity across the UK, Europe, and the US. This will enable the business to meet increasing demand from both new and existing customers, supporting all stages of development from clinical to commercial stages. The new funding will also enable Sterling to pursue additional strategic acquisitions to further expand its capabilities and geographic reach and continue to advance its strong commitment to ESG initiatives.

Kevin Cook, CEO, Sterling, says: “We have achieved remarkable growth over the last four years becoming a trusted partner to the pharmaceutical and biotechnology industries. We are proud of our success in meeting the often complex and demanding manufacturing needs of our customers on an international scale. Our continued sustainable growth has been underpinned by our partnership with GHO Capital, which has been instrumental in our success to date. We are delighted to welcome Partners Group, which, alongside GHO, will support our ambitious global growth trajectory. We look forward to continuing to provide industry leading service throughout the entire product lifecycle, to an ever-expanding international customer base.”

The Partners at GHO Capital comment: “We partner with management teams to deliver the healthcare of the future. Sterling is a leading example of how our deep industry expertise, combined with the GHO growth playbook, can generate long-term, sustainable value. We are immensely proud of the business that Sterling has become as a result of GHO’s partnership with management in supporting exceptional transatlantic growth, operational enhancements, internationalization and transformational M&A. We are especially glad to continue our strong partnership with Kevin and the management team and we look forward to working with Partners Group, which has significant global reach and expertise and will contribute to Sterling becoming the reference innovator-focused API CDMO globally.”

Pascal Noth, Head Private Equity Health & Life Europe, Partners Group, adds: “Advanced CDMOs have been a major focus of our thematic research and we have strong conviction in the growth potential of leading players that are capable of following the molecule across its lifecycle. We believe that strategic partners to innovative pharmaceutical companies will benefit from further outsourcing as well as production reshoring trends. Sterling’s focus on complex APIs means it is well positioned to capitalize on rising demand for next-generation small molecule medicines. We have been really impressed with Kevin and the management team and look forward to collaborating with them, as well as our partners at GHO, known for their extensive industry knowledge and successful growth strategies, on the Company’s next phase of transformational growth.”

Sterling was advised by Jefferies International Ltd as financial advisor, Macfarlanes LLP as legal advisor, L.E.K. Consulting LLP as commercial advisor, Deloitte LLP as finance, tax, and responsible investing due diligence advisor, and ERM as environmental advisor.

GHO was advised by Jefferies International Ltd as secondaries advisor, Slaughter and May and Kirkland & Ellis International LLP as legal advisors, and Deloitte LLP as structuring advisor.

Partners Group was advised by Ropes & Gray International LLP as legal advisor, Ernst & Young AG as commercial advisor, PricewaterhouseCoopers Ltd as financial, tax, and structuring advisor, Alvarez & Marsal Europe LLP as operations advisor, and ERM as environmental advisor.

Categories: News

Tags: