Archives

Kristoffer Melinder is named one of the 50 most influential people in European private equity for the fourth time

Nordic Capital
December 10 2021
Kristoffer Melinder is named one of the 50 most influential people in European private equity for the fourth time Image

 

  • Kristoffer is credited for a focused, sustainable investment strategy and development under his leadership 
  • Strong year for Nordic Capital, which completed its second remote fundraising with the close of EUR 1.2 bn Nordic Capital Evolution, announced fourteen platform deals, made seven full or partial exits and maintained intense focus on active ownership

Financial News and Private Equity News has again named Kristoffer Melinder, Managing Partner, Nordic Capital Advisors, as one of Europe’s 50 Most Influential People in Private Equity. Kristoffer has been included in this list every year since it was first published four years ago. Honorees in this year’s list represent the top dealmakers, investors, business leaders and advisers shaping the European private equity market, selected for their leadership and firepower within their firms and the wider market over the past 12 months.

The list highlights how Kristoffer’s leadership has enabled the evolvement of a robust and sustainable investment strategy for Nordic Capital, today with assets under management of EUR 24 bn, supported by the careful growth and development of the organisation with a team of 160 people (including Nordic Capital Advisors) now operating across ten offices.

Financial News and Private Equity News credit Nordic Capital for closing its EUR 1.2 bn mid-market focused fund Nordic Capital Evolution in June 2021, and its largest-ever fund, Nordic Capital X, at EUR 6.1 bn in September 2020. The list also recognises the momentum behind Nordic Capital’s transactional activity, with 14 platform acquisitions and seven full or partial exits made in the last 12 months, including the listings of Cary Group, Cint and Nordnet.

Having joined the business from JP Morgan in 1998, Kristoffer is recognised as a champion of sustainable investment. During his leadership of Nordic Capital Advisors, Nordic Capital has received A+ scores from the United Nations’ Principles for Responsible Investment (UNPRI) for its ESG work.

Kristoffer Melinder commented: “2021 has been another landmark year for Nordic Capital, with Nordic Capital Evolution successfully launched, a high pace of investment and exit activity and an intense focus on active ownership across Nordic Capital’s portfolio of market-leading businesses. It is a great honour to be recognised a fourth time in this list of very talented individuals, but the achievements are collective, and this recognition is very much shared with the whole team. This success is a direct result of their talent, dedication and passion and I am delighted that their commitment has been recognised in this way.”

Note: The 50 “most influential” people were selected by Financial News and Private Equity News, who conducted thorough market research to assess candidates’ firepower in Europe, their recent track records and their wider industry profile.  

 

Press contact:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

Categories: People

Fonds Finanz secures investment from Hg

HG Capital

Fonds Finanz secures investment from Hg to enable further tech innovation and expansion as a leading financial intermediary pool across Germany

Munich, Germany. 10 December 2021: Fonds Finanz, a leading tech-enabled financial intermediary pool focused on the German insurance sector, today announces that is has secured a majority investment from Hg, a leading software and services investor.

Founded in 1996 and headquartered in Munich, Fonds Finanz serves more than 28,000 customers including brokers, distributors, insureTechs and banks across Germany. With a comprehensive software, advisory and service offering, Fonds Finanz gives customers access to a full-service platform, comprising products from more than 500 insurance and financial product vendors in Life, Health, Property & Casualty and Investment funds.

Hg brings to the partnership an extensive network across the insurance sector in Germany and the United Kingdom. Partnering with Hg will enable Fonds Finanz to further optimise the business, with an opportunity to enter several additional customer segments, and to acquire attractive businesses to further broaden the Fonds Finanz service offering and to drive innovation by acquiring complementary technology.

Co-founders Norbert Porazik and Markus Kiener, will continue to run Fonds Finanz and will lead the future development of the company. Both founders remain significant shareholders in the business. The terms of the transaction are not disclosed.

“This is another important milestone in Fonds Finanz’s over 25 years history. We warmly welcome the team from Hg. Together we see a significant opportunity to invest further to provide more customers, with more services, with better technology and across additional segments than has been possible previously.”

Norbert Porazik, co-founder of Fonds Finanz

“I’m really proud of all the colleagues who have worked so hard to put us into this great position as a business. The future is looking very bright for the Fonds Finanz team, and for our customers as we will be increasingly better positioned to service their needs. We’re thrilled to partner with Hg, an expert tech and service investor who can project us forward on this journey.”

Markus Kiener, co-founder of Fonds Finanz

“Fonds Finanz occupies a central position in the insurance eco-system across Germany. Over the last decade we’ve got to really know this sector and we instantly recognised Fonds Finanz as a high value-add channel for insurance companies.  We’re really excited to support Fonds Finanz on its journey, not least because we think technology will play an ever increasing role for the business going forward.”

Benedikt Joeris, Director at Hg

Media Contacts:

Fonds Finanz

Thorsten Jess

+49 (0)89 15 88 15-380

Hg

Tom Eckersley

Tom.Eckersley@hgcapital.com

+44 208 148 5401

Fonds Finanz Maklerservice GmbH

Fonds Finanz Maklerservice GmbH is a leading financial intermediary pool in Germany. The Munich-based company operates nationwide and has more than 28,000 sales partners, 420 employees and 150 regional directors. In the 2020 financial year, Fonds Finanz generated a total revenue of EUR 192.5 million and a profit of EUR 7.1 million (earnings before taxes). Fonds Finanz offers comprehensive and multi-award-winning sales support for intermediaries in the areas of life, health, property, investment, tangible assets, property, banking products and construction financing – entirely free of charge. Founded in 1996, Fonds Finanz is a fully independent owner-managed corporation. Norbert Porazik and Markus Kiener are the owners and managing directors.

As per August 2021

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

Categories: News

Tags:

Pirum Systems secures new investor to accelerate its global growth strategy

HG Capital

London, United Kingdom, 10 December 2021.

Pirum Systems (“Pirum”), a leading provider of post-trade automation and collateral management technology for the global securities finance industry, today announces that Hg, a leading software and services investor, will become a significant shareholder in the company.

Hg will share joint control with Pirum’s current backers Bowmark Capital, the technology and services investor, which invested in the company in 2019. The Pirum management team will also retain a significant stake in the business.

Pirum was founded in 2000 to provide advanced, centralised and secure reconciliation services for financial market participants. Pirum’s software provides a secure processing hub which seamlessly links industry participants, allowing them to process and verify key transaction details electronically. This delivers significant trade and collateral efficiency, lowers costs and enhances regulatory compliance for its network of clients. Pirum’s products assist 90 of the most prestigious global financial institutions to process over $3 trillion of transactions daily.

Under the stewardship of Bowmark and Pirum’s executive team, the business has successfully rolled-out a leading regulatory reporting offering, while building a suite of new products automating collateral management, repo, and front office activities. Hg’s financial services technology credentials and international footprint will enable Pirum to further drive workflow automation, address regulatory requirements, and enhance innovation across the sector.

“This is a significant milestone in our journey, and is welcome news for everyone at Pirum. Together with Bowmark, Hg will actively support Pirum’s global expansion and investment in additional innovations, helping us to deliver further efficiency and productivity gains for our customers and the broader industry eco-system.”

Philip Morgan, Chief Executive Officer at Pirum

“Hg invests in businesses that are champions in their field, with compelling long-term growth prospects underpinned by strong technological foundations and talented leadership teams. Pirum has all of these qualities and is a business we have tracked for many years through our capital markets technology focus. We look forward to backing Phil and his team, and to partnering with Bowmark to further scale what is already a great platform, driving continued automation of post-trade workflows.”

Sebastien Briens, Partner at Hg

“We have known Pirum and its team for over a decade, and the business has achieved uninterrupted revenue and profit growth during this period. Pirum has a strong track record of product innovation and best-in-class client services, which continuously enhance its propositions for collateralised markets. We are delighted to welcome a new partner in Hg, whilst continuing to work closely with the management team.”

Julian Masters, Managing Partner at Bowmark Capital

The terms of the transaction are not disclosed and the transaction is subject to regulatory approval. The Hg team was led by Sebastien Briens and Steve Burn-Murdoch, and was advised by Skadden, Arps, Slate, Meagher & Flom LLP (legal) and Linklaters (debt legal). Julian Masters and Antonia Cheong led the Bowmark Capital team. Jefferies International Limited served as financial adviser, and Stephenson Harwood LLP served as legal counsel, to Bowmark Capital and Pirum. The management team of Pirum were advised by Jamieson Corporate Finance LLP and Ashurst LLP.

Media Contacts:

Pirum Systems
Anna Conti Manfrin
anna.conti@pirum.com
+44 20 3105 6088

Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Bowmark Capital
Caroline Cecil
Caroline Cecil Associates
ccecil@carolinececil.co.uk
+44 20 7610 4110

About Pirum
Pirum offers a secure, centralised automation and connectivity hub for global securities finance, enabling complete automation of the post-trade and collateral lifecycle across repo and stock loan. Our position within the securities financing sector enables clients to seamlessly access counterparties, triparty agents, trading venues, market data companies and CCPs, as well as meet their regulatory reporting requirements. We combine an in-depth understanding of both the securities finance industry and the most advanced technologies to provide highly innovative and flexible services. Supporting established and emerging financial institutions, Pirum’s pioneering approach consistently reduces operational risk while increasing processing efficiency and profitability.

Pirum’s innovations and customer focus have resulted in widespread industry recognition. Pirum has won multiple awards in recent years including Global Post-Trade Service Provider of the Year at the International Securities Finance Awards, and our Collateral Connect product secured Best Software Solution.

Visit www.pirum.com for more information.

About Hg
Hg is a growth platform of software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 40 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year.

To date, Hg has invested over $1 billion specifically in Wealth & Capital Markets software. Pirum will represent the 10th platform investment in this space, with current Hg investments including Riskalyze, FE fundinfo, smartTrade and Gen-II.

Visit www.hgcapital.com for more information.

About Bowmark Capital
Bowmark Capital is a leading private equity firm that invests in UK services and technology companies. Established in 1997, we manage and advise funds of over £1.5 billion and have made more than 50 investments.

With our strategic support and capital, we work in partnership with management teams to accelerate growth and build exceptional businesses. Find out more at www.bowmark.com and LinkedIn.

Bowmark Capital LLP is authorised and regulated by the Financial Conduct Authority.

Categories: News

Tags:

CapMan Infra acquires Finland’s leading bus operator – electric bus fleet to grow sixfold by 2026

Capman

CapMan Infra Press Release

10 December 2021 at 9:30 a.m. EET

CapMan Infra acquires Finland’s leading bus operator –electric bus fleet to grow sixfold by 2026

CapMan Infra has entered into an agreement to acquire 100 per cent of the shares of Koiviston Auto (Metsäpietilä Oy), the largest bus operator in Finland. The acquisition is aligned with CapMan Infra’s approach to improve public transportation networks, offer sustainable transportation alternatives by driving the green shift of the business.

Koiviston Auto, founded in 1928, is a market leader within public and commercial bus transport in Finland. The company employs 2,300 people, has a fleet of c. 1,000 buses, operates a network of 18 depots across Finland and transported around 85 million passengers pre-pandemic in 2019.

The company’s business is divided into two segments, contract- and market-based bus transport. The contract-based urban bus transportation business displays attractive infrastructure characteristics of a large asset base underpinned by long-term capacity based and inflation protected contracts with public transportation authorities. The contract-based business represents currently around 80 per cent of group revenues, while the market-based business shows post-pandemic recovery opportunities. The market-based segment operates three well-known brands: Onnibus.com, Onnibus Flex and Porvoon Liikenne, and is the clear market leader in the intercity long-haul bus traffic in Finland.

“We are very pleased to acquire a company with an impressive history and opportunities to transform its business towards more environmentally friendly operations. As the market leader, the company is well-positioned to drive the electrification of the bus sector and grow the business through winning additional contracts. We value their local knowledge and presence, and we plan to maintain the strong brands that the company’s fleet operates under. We look forward to continuing to develop the company together with its employees in line with the values of Koiviston Auto. We recognise the impact of the ongoing pandemic on employees and customers and focus on providing stability as we move towards a recovery,” says Ville Poukka, Managing Partner at CapMan Infra.

Through the acquisition, CapMan is driving the rapid electrification of urban bus transportation. Electric buses currently account for only 6 per cent of Koiviston Auto’s contracted fleet. CapMan plans to increase the company’s contracted electric bus fleet to more than 220 buses by 2026, representing over 33 per cent of the contracted bus fleet. The annual savings of around 21,000 tons of CO2, when compared with 2021 levels equal the removal of around 7,000* cars from traffic.

“Koiviston Auto has operated as a family business for nearly one hundred years. Before making the decision to sell we performed a careful evaluation of the company’s future. The industry is in transition, as traffic is being rapidly electrified. Now was a natural turning point to realise this change. CapMan Infra brings added resources to for instance needed fleet investments as well as valuable expertise to developing the business”, says Antti Norrlin, Chairman of the Board of Koiviston Auto.

The CapMan Infra team holds significant experience in implementing a green shift of the transportation sector through its investment in Norwegian ferry operator Norled, where emissions reduction of the fleet has been a key component of the strategy. The team has previous experience of managing and developing large transportation systems and organisations in the Nordics.

The transaction is subject to customary closing conditions and is expected to close during the first quarter of 2022. All existing employees will maintain their current positions following the transaction. This agreement has no immediate effect on Koiviston Auto’s existing customers or services provided.

CapMan Infra is a Nordic infrastructure investor with a team of ten professionals based in Helsinki and Stockholm and approx. €400 million in assets under management.

*Assuming on average 94,909 driven kilometers per annum for urban traffic bus and 1,202 g/km CO2 emissions for EURO VI class bus (full load) as well as 20,000 driven kilometers per annum for car and 153.5 g/km CO2 emissions for car, based on the average emissions per car in Finland in 2020.

For more information, please contact:

Ville Poukka, Managing Partner, CapMan Infra, tel. +358 50 572 9120

Torborg Chetkovich, Partner, CapMan Infra, tel. +46 73 802 02 05

Antti Norrlin, Chairman of the Board, Koiviston Auto, tel. +358 400 499 041

Antti Unkuri, Group CEO, Koiviston Auto, tel. +358 44 786 4623

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 160 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.  www.capman.com

About Koiviston Auto

Koiviston Auto is the largest bus operator in Finland with a nationwide network of depots and routes. The company employs 2,300 people, has a fleet of around 1,000 buses and had a turnover of 173 million euros in 2020. Koiviston Auto is the market leader in market-based intercity traffic with its OnniBus.com, OnniBusFlex and Porvoon Liikenne brands. In the contract-based urban bus transportation business the company is strongly present in the regions of Helsinki, Jyväskylä, Lahti, Kuopio, Oulu, Porvoo, Rauma, Rovaniemi and Varkaus. Koiviston Auto is a family-owned company founded in 1928. The company has its headquarters in Lahti. Visit www.koivistonauto.fi or www.onnibus.com for more information.

Categories: News

Tags:

Altor and SMS Group to jointly invest in KAEFER for a 50% shareholding

Altor

g

Altor Fund V (“Altor”) and SMS Group have jointly signed an agreement to invest in KAEFER Isoliertechnik GmbH & Co. KG (“KAEFER”) for a 50% shareholding. Altor partners with family- owned SMS and the family shareholders of KAEFER to support the continued internationalization and excellence programs at KAEFER.

KAEFER holds a leading position as a globally active asset integrity services and solution provider, with an annual turnover of around €1.8 billion. Headquartered in Bremen, Germany, the Company has built a strong reputation with clients around the world for its best-in-class craftsmanship and quality over its more than 100 years history as a family-owned business.

Altor and SMS jointly invest in a capital increase and acquire shares for 50% shareholding in KAEFER. They will partner with the KAEFER shareholder family and the management team in shaping the company for sustainable growth and drive excellence programs. With the additional equity investment, KAEFER will scale its solid platform through M&A and invest in expanding its services in industries benefitting from sustainability developments such as decarbonization and energy transition.

SMS is a German family-owned company, headquartered in Duesseldorf. It has outstanding expertise within the metals sector and brings 150 years of experience in industrial project business, innovation and digital know-how.

Moritz Koch, Head of the KAEFER shareholder family and Chairman of the KAEFER Advisory Board, noted that “This is a key milestone for KAEFER in shaping our future and opening a new chapter of our company history. SMS and Altor have been diligently selected and are our real partners of choice as long-term oriented and family shareholders. I am fully convinced that this partnership will further strengthen our business and will position KAEFER very favourably to play an active role in an ever more competitive market environment.”

“Our clients will continue to receive the same high-quality and reliable services plus the extra value offered by all partners working together to increase our competitive strength” says Dr Roland Gärber Co-CEO Operations at KAEFER. “We are certain that this is an excellent step towards reaching the goals of our strategic programme and beyond”, adds Steen E. Hansen, Co-CEO Finance at KAEFER.

“We are truly impressed by the business that KAEFER has built over more than a century. The company has consistently delivered excellence globally” says Giovanna Maag, Partner at Altor, “We are humbled to be able to partner with the two prestigious German family companies SMS and KAEFER. Together we will invest in KAEFER’s strategic roadmap to continue succeeding internationally, and we look forward to working with the family and the management team.”

The agreement is still subject to customary regulatory clearance.

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

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 75 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Oceans Apart, Rossignol, Norican Group, PIAB and Gunnebo. For more information visit www.altor.com

About KAEFER
Founded in 1918 and headquartered in Bremen, Germany, the family-owned Company is a leading global Insulation, Access Solution, Surface Protection and Passive Fire Protection (“IASP”) player with a 100+ years track record of best-in-class craftsmanship and quality. KAEFER employs over 30,000 staff across 5 continents and serves various end-markets, including the energy, chemicals & pharmaceutical and construction sectors. The Company differentiates itself by being able to coordinate decentralized, personnel-intensive projects with industry-leading health, safety and environmental standards under tight timelines as well as the capability to leverage its own personnel base across regions.

About SMS
SMS group is a family-owned business headquartered in Düsseldorf, Germany, and globally active in 95 locations. SMS group is known worldwide for its future-oriented technologies and outstanding service for the metal industry. The company uses its 150 years of experience and digital know-how to provide the industry with innovative products and processes – even beyond its core business – and generates a turnover of more than 2.7 billion euros worldwide. SMS has a strong international presence and supports its customers locally throughout the entire life cycle of their plants to enable profitable and resource-efficient value chains. Paving the way to a climate-neutral and sustainable metals industry is the company’s declared goal. As a global player with German roots, SMS assumes responsibility for its approximately 14,000 employees.

Author: Katarina Karlsson
Date: 2021.12.10
Categories: News

Gnist to become part of Norlandia Preschools

Norlandia Preschools AS (“Norlandia”) has signed an agreement to purchase the Norwegian preschool chain Gnist Barnehager AS (“Gnist”) from the founders of the chain and Altor Fund IV (“Altor”). Gnist is a private Norwegian preschool chain with a strong pedagogical platform, with a particular focus on a systematic approach to operations, supported by good practices….

Categories: News

Tags:

Pirum Systems secures new investor to accelerate its global growth strategy

Bowmark

Pirum Systems (“Pirum”), a leading provider of post-trade automation and collateral management technology for the global securities finance industry, today announces that Hg, a leading software and services investor, will become a significant shareholder in the company.

Hg will share joint control with Pirum’s current backers Bowmark Capital, the technology and services investor, which invested in the company in 2019. The Pirum management team will also retain a significant stake in the business.

Pirum was founded in 2000 to provide advanced, centralised and secure reconciliation services for financial market participants. Pirum’s software provides a secure processing hub which seamlessly links industry participants, allowing them to process and verify key transaction details electronically. This delivers significant trade and collateral efficiency, lowers costs and enhances regulatory compliance for its network of clients. Pirum’s products assist 90 of the most prestigious global financial institutions to process over $3 trillion of transactions daily.

Under the stewardship of Bowmark and Pirum’s executive team, the business has successfully rolled-out a leading regulatory reporting offering, while building a suite of new products automating collateral management, repo, and front office activities. Hg’s financial services technology credentials and international footprint will enable Pirum to further drive workflow automation, address regulatory requirements, and enhance innovation across the sector.

Philip Morgan, Chief Executive Officer at Pirum, said: “This is a significant milestone in our journey, and is welcome news for everyone at Pirum. Together with Bowmark, Hg will actively support Pirum’s global expansion and investment in additional innovations, helping us to deliver further efficiency and productivity gains for our customers and the broader industry eco-system.”

Sebastien Briens, Partner at Hg, said: “Hg invests in businesses that are champions in their field, with compelling long-term growth prospects underpinned by strong technological foundations and talented leadership teams. Pirum has all of these qualities and is a business we have tracked for many years through our capital markets technology focus. We look forward to backing Phil and his team, and to partnering with Bowmark to further scale what is already a great platform, driving continued automation of post-trade workflows.”

Julian Masters, Managing Partner at Bowmark Capital, commented: “We have known Pirum and its team for over a decade, and the business has achieved uninterrupted revenue and profit growth during this period. Pirum has a strong track record of product innovation and best-in-class client services, which continuously enhance its propositions for collateralised markets. We are delighted to welcome a new partner in Hg, whilst continuing to work closely with the management team.”

The terms of the transaction are not disclosed and the transaction is subject to regulatory approval. The Hg team was led by Sebastien Briens and Steve Burn-Murdoch, and was advised by Skadden, Arps, Slate, Meagher & Flom LLP (legal) and Linklaters (debt legal). Julian Masters and Antonia Cheong led the Bowmark Capital team. Jefferies International Limited served as financial adviser, and Stephenson Harwood LLP served as legal counsel, to Bowmark Capital and Pirum. The management team of Pirum were advised by Jamieson Corporate Finance LLP and Ashurst LLP.

 

Categories: News

Tags:

CapMan Special Situations invests in Marinetek

Capman

CapMan Special Situations press release 9 December at 12:00 a.m. EET

CapMan Special Situations invests in Marinetek

CapMan Special Situations fund becomes the majority owner of Marinetek Group and invests to develop Marinetek as a global leader in premium marinas and advanced floating solutions.

CapMan Special Situations fund has agreed on a comprehensive recapitalization of Marinetek Group. CapMan’s fund has acquired majority ownership in the company and will invest new capital into Marinetek to develop the business. As a part of the recapitalisation, the company’s senior loans were transferred to CapMan fund’s ownership.

Marinetek is a leading supplier of premium marinas with high quality concrete, aluminium and timber pontoon solutions for turnkey marinas, breakwaters and commercial floating solutions. Founded in Finland and with a global presence and a flexible supply chain and manufacturing in 9 countries, Marinetek has delivered more than 2,500 marina references in 55 countries worldwide.

“Marinetek is the preferred brand in premium marinas and floating solutions with an unparalleled global reach across Europe, Middle East, Asia and North America. This transaction enables complete restructuring of Marinetek’s balance sheet, and the company will receive necessary financing to strengthen its capabilities and drive future growth.” says Antti Uusitalo, Partner at CapMan Special Situations.

“Marinetek has come a long way since it was founded in 1994. This transaction provides a strong financing backbone for the company to embark on the next wave of expansion after few difficult years. I am confident that the transaction will enable Marinetek to succeed in its growth plans”, says Ilkka Seppälä, the founder of Marinetek Group.

“I am very pleased that the company’s financing rests now on a very solid foundation. With the order books of the boating and super yacht industry currently at an all-time-high, we expect the infrastructure spending on marina projects to stay elevated for years to come. With CapMan’s support, we are well equipped to grow the business to the next level”, says Mika Parviainen, Marinetek Group CEO.

CapMan Special Situations invests in event-driven opportunities across economic cycles and industry sectors. At the core of the investment area are demanding corporate restructurings and operational transformations. CapMan Special Situations is a responsible investor, and its mission is to contribute to societal wellbeing by ensuring that viable companies can successfully steer through demanding situations and once again thrive. CapMan Special Situations will actively contribute to Marinetek’s development together with its co-investors Karri Kaitue and Heikki Westerlund.

For additional information, please contact:
Antti Uusitalo, Partner, CapMan Special Situations, tel. +358 40 020 2663

Mika Parviainen, CEO, Marinetek Group, tel. +358 50 464 3867

About Marinetek

Marinetek is an internationally recognized brand name for premium marinas and advanced floating solutions. With industry’s widest pontoon product range and a network of over 300 marina experts around the world, Marinetek can fulfil a wide range of customer needs from a custom-made floating structure to a world-class marina.

Marinetek offers world famous concrete, hybrid aluminium and timber pontoons, breakwaters, floating solutions and marina equipment. Through collaborative partnerships, Marinetek provides its customers expertise and turnkey-services from concept design, engineering, manufacturing, and installation to modernization of marinas.

Operating in over 40 and manufacturing in 9 countries Marinetek has delivered more than 2500 marina references to 55 countries worldwide.

www.marinetek.net

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With more than €4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012.

Categories: News

Tags:

Retail Aware Closes Oversubscribed Venture Round Led by Cleveland Avenue

New Stack Ventures

The New Stack Portfolio Company Raises $2.5 Million to Supercharge Growth

December 9, 2021 · Portfolio Company

Retail Aware announces expansion plans thanks to a latest round of capital investment, bringing total funding to over $4MM to date. The round was anchored by the Cleveland Avenue State Treasurer’s Urban Success Fund ‘CAST US Fund’, a $70M initiative focused on bridging the capital and resource gap impacting Black, Latinx and women entrepreneurs in Chicago’s South and West side neighborhoods. Participation also included major investor First Mile, and roster of Chicago firms: Bridge Investments, Lofty Ventures, Relish Works, Company First, in addition to a previous investment led by Newstack Ventures.

“Retail Aware’s partnerships with industry-leading brands and national retailers are a strong indication of the company’s ability to drive significant growth in 2022 and beyond. We are excited to have them become part of our CAST US portfolio.” said Andrea Zopp, Managing Partner, CAST US Fund.

Retail Aware provides retail brands with better measurement of in-store marketing tactics through access to real-time data and insights. Using sense technology and an award-winning AI engine, Retail Aware allows marketers to take action faster and to accelerate return on their investment.

By focusing on shelf-level and display data, Retail Aware is disrupting an industry nearly left behind by the tech evolution. The solution has been implemented in thousands of locations worldwide with rapid expansion led by leading global brands and retailers.

“‘Omnichannel’ has become a ubiquitous marketing strategy, but how do brand teams measure it if they’re missing in-store impressions, display compliance numbers, or lift data? The pandemic revealed so many nuances to the in-store experience, and we’re seeing results translating those insights for our customers,” says Keith Fix, CEO and Co-Founder of Retail Aware. “Physical retail is not dead – not by a long shot – and we’re bringing the tech necessary for its glow-up.”

The latest round of funding will enable Retail Aware to scale both sales and operations to keep up with outsized client demand. While the team remains distributed, Retail Aware is expanding its Chicago presence to build upon ties with Chicago based brands, investors, and local based team.

Categories: News

Tags:

Ontario Teachers’ Joins KKR as an Investor in GreenCollar

KKR

December 9, 2021

Investment positions GreenCollar for continued global growth

SYDNEY–(BUSINESS WIRE)– GreenCollar is pleased to welcome Ontario Teachers’ Pension Plan Board (Ontario Teachers’) as a new long-term investor to back the company’s ambitious growth aspirations and commitment to delivering positive environmental impact at scale. With this latest investment, Ontario Teachers’ joins KKR’s Global Impact Fund as a significant shareholder in the company. Other terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211209006078/en/

Ontario Teachers’ is one of the world’s largest pension plans with ~$227.7 billion in net assets. The plan focuses on shaping a better future for the people, places and communities where it invests, including a commitment to have net zero greenhouse gas emissions across its portfolio by 2050. In September this year, it set industry-leading interim reduction targets: to reduce portfolio carbon emissions intensity by 45% by 2025 and 67% by 2030, compared to a 2019 baseline.

Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, already has significant experience investing in the agriculture, timberland and seafood sectors, including in Australia where it has a large agriculture portfolio. The group has leveraged its experience in these sectors to increase investments in immediate, scalable natural climate solutions projects that protect ecosystems and reduce greenhouse gas emissions, demonstrating strong alignment with GreenCollar’s approach.

Christopher Metrakos, Managing Director, Natural Resources at Ontario Teachers’, said: “We are thrilled to invest in a leading global environmental markets investor and project developer alongside KKR, the founders and management team of GreenCollar. GreenCollar’s collaborative and scientific approach is driving the development of innovative environmental solutions, particularly within Australia’s carbon market, and the business has great potential for international growth.”

Founded by James Schultz and Lewis Tyndall over a decade ago, GreenCollar is a profit for purpose business working across the carbon, water quality, biodiversity and plastics markets. It exists to value the environment and drive positive impact at scale by creating methodologies and markets that put the environment on the balance sheet.

James Schultz, GreenCollar CEO, commented, “Our mission is to put the environment on the balance sheet through carbon farming, improved water quality, nature positive outcomes, and addressing the global challenge of plastics. The methodologies and projects we’ve developed under Carbon and Water, and the work we are doing in Plastics and Nature credits are setting the global standard for high quality, high integrity credits to drive positive environmental outcomes at scale.

“KKR has been a terrific strategic partner and we are excited to welcome another similarly aligned partner in Ontario Teachers’ as we look to achieve our vision of driving change towards an economy that puts the right value on positive climate change and environmental outcomes. The support of KKR and Ontario Teachers’ will be invaluable as we look to further our international impact,” Schultz said.

Since the investment by KKR’s Global Impact Fund, which seeks to invest behind scalable, commercial solutions to solve critical challenges identified by the United Nations Sustainable Development Goals, GreenCollar has successfully grown its capabilities and offerings through several acquisitions and expanded internationally. Most recently, the company has strengthened its carbon trading marketplace through the acquisitions of carbon advisory and trading firm Sigma Global, Queensland carbon farming business, Devine Agribusiness Carbon, and the consumer-facing offsets platform Go Neutral. It also recently formed a partnership with leading soil carbon operator, AgriProve, expanding its position as the only industry operator to offer the full suite available of nature-based carbon farming methods.

George Aitken, a Director on KKR’s Private Equity team in Australia, said, “We are delighted to welcome Ontario Teachers’ given their significant expertise in the natural resources sector. KKR is aligned with Ontario Teachers’ in our commitment to drive positive environmental impact and we are confident this new strategic partnership taps into our collective strengths to position GreenCollar for its next stage of growth. Carbon credits and environmental offsets remain an important part of the transition towards sustainability and GreenCollar’s continued growth will help to scale this effort further.”

With this new investment, Ontario Teachers’ will join KKR in supporting GreenCollar’s international expansion as well as its growth across water, nature and plastics. Just this year GreenCollar celebrated the establishment of the Reef Credits Registry, validating its foundational work in establishing a world-first water quality market targeting the Great Barrier Reef. It also established a range of pilot projects to reward the positive biodiversity outcomes of good land stewardship under its Nature platform, and registered Australia’s first and the world’s second project under Verra’s plastics standard.

Internationally, GreenCollar’s expansion into new regions includes its plastic recovery projects in West Africa and the Pacific, cook stoves projects in Southern Africa, and its first forest protection projects in South-East Asia.

About GreenCollar

GreenCollar is a profit-for-purpose organisation, and the leading environmental markets project developer and investor across the carbon, water quality, biodiversity and plastics markets in Australia. Founded in 2011, GreenCollar works with landowners and managers throughout Australia to develop projects that create commercial opportunities by generating environmental credits, while caring for the environment. GreenCollar’s management team was fundamental in helping to establish Australia’s carbon market framework and are widely recognised as thought leaders in the carbon markets industry.

About Ontario Teachers’

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) is the administrator of Canada’s largest single-profession pension plan, with C$227.7 billion in net assets (all figures at June 30, 2021 unless noted). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region offices are located in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded as at January 1, 2021, invests and administers the pensions of the province of Ontario’s 331,000 active and retired teachers. For more information, visit otpp.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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:
GreenCollar
Mitchell Blincoe
+61 427 801 843
mblincoe@keepleft.com.au

Ontario Teachers’
Hugh Christopher, Senior Manager, External Communications
+1 6473003365
media@otpp.com

KKR
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

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

Citadel-MAGNUS (for KKR Australia)
James Strong
+61 448 881 174
JStrong@citadelmagnus.com

Source: KKR

Categories: News

KKR joins InVivo in its acquisition of global malt producer Malteries Soufflet

KKR

KKR is co-investing with Bpifrance and Crédit Agricole Group for a total consideration of €440m

Paris, 9 December, 2021 – KKR, a leading global investment firm, announces today that KKR has acquired a significant minority stake in Malteries Soufflet, a leading producer in the malt industry. KKR, Bpifrance and Crédit Agricole Group will collectively invest €440m in the malt business, which is a division of Soufflet Group. Soufflet Group has recently been acquired by InVivo, a leading French agricultural and agri-food business, with InVivo welcoming the three investment partners as they look to accelerate the growth of Malteries Soufflet and strengthen its globally leading position.

Malteries Soufflet is one of the leading global malt producers, employing 1,200 people, spread over four continents, with 28 production plants and an annual production of 2.4m tons. Malteries Soufflet has significant capacity to supply malting-quality barley through its international footprint, and is well positioned to capture growing demand in the underlying market from both international brewers, as well as the growing craft beers market.

Thierry Blandinières, CEO of InVivo Group, commented: “We were looking for a dynamic strategic partner capable of supporting our global growth plans with the acquisition of Soufflet while simultaneously assessing the international growth potential of our malt division. KKR, along with Bpifrance and Crédit Agricole Group, worked with us to find the right solution to help strengthen our malt division for years to come, in France and internationally.”

Jérôme Nommé, Partner and Head of France at KKR, said: “Malteries Soufflet is a world class business with the potential to significantly strengthen its position under the expert leadership of Thierry Blandinières and his team at InVivo. We are delighted to work with InVivo alongside other highly respected investors, and look forward to supporting InVivo in growing and developing the malt division to help it meet its exciting growth ambitions.”

Blaine MacDougald, Partner and Co-Head of KKR’s Strategic Investments Group, added: “Our ability to offer capital solutions to companies which are complementary to our traditional private equity business gives us additional ways to partner with management, while still enabling them to benefit from the full suite of KKR resources. This structured equity investment demonstrates the flexibility of the KKR platform to work closely with companies on supporting their future growth needs.”

KKR’s diversified and multi-asset investment platform provides KKR with the flexibility to support ambitious companies with a suite of comprehensive, bespoke capital solutions, further enhanced by its global experience and operational capabilities. In France, this model along with KKR’s strategic partnership approach, strong local presence and large global platform, enables companies to grow and globalize. KKR is a long-term investor in France, where the firm has invested over €10 billion since 2002, forming strategic partnerships with a number of leading French businesses including Devoteam, Mediawan, OVHcloud, among others. KKR invests in Malteries Soufflet from its managed funds.

 

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

About InVivo

InVivo Group, which finalized the acquisition of Soufflet Group in December 2021, is one of Europe’s leading agricultural groups with revenues of nearly €10 billion, with more than half of which generated in France, and a workforce of more than 13,000 employees, including more than 10,000 in France. With operations in 35 countries, it has more than 90 industrial sites, including 63 in France.

A cornerstone of food sovereignty, InVivo operates across the entire value chain, from farm to fork, and is a leader in each of its strategic businesses: Agriculture; Malting (“Malteries Soufflet”); Milling, ingredients, bakery and pastry; Garden center and food retail; International grain trade; Wine. A global cross-functional centre for innovative and digital solutions completes the structure, in order to accelerate the transformation of InVivo’s businesses.

For more information: invivo-group.com / Twitter @InVivoGroup

 

Media Contacts

KKR France:

Finsbury Glover Hering

Nathalie Falco

Telephone: +33 6 30 64 90 15

Email: nathalie.falco@fgh.com

 

Categories: News

Tags: