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Ratos company Speed Group wins the Stora Hållbarhetspriset sustainability award

Ratos

Speed Group named winner of the Stora Hållbarhetspriset award for 2022. The prize is awarded by Borås Näringsliv (the Borås local business association), the University of Borås, the City of Borås and Sparbanken Sjuhärad through its owner foundation.

Speed won the prize, with the following citation: “With a clear focus on the environment that is central to the customer dialogue, and with the largest rooftop photovoltaic system in the Nordics, this year’s winner is growing quickly. The 2022 Stora Hållbarhetspriset recipient has a goal of becoming carbon neutral by no later than 2025. Suppliers for this year’s prize-winner must meet requirements for more sustainable materials, energy solutions, transportation and work clothes. Through initiatives both large and small, the winner makes a difference and demonstrates that ecological, social and financial responsibility can go hand in hand. The winner of this year’s prize intends to support innovations related to the environment and contribute to a more inclusive local community where children and young people have a fair chance. Based on its long-term and goal-oriented sustainability agenda, the jury awards the Stora Hållbarhetspriset to Speed Group.

“Sustainability is a prerequisite for remaining an attractive employer and continuing to provide an attractive customer offering. Speed Group has integrated sustainability into its core operations in an exemplary manner. Speed Group is honoured to receive this award,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

“It’s incredibly exciting to win a prestigious award like the Stora Hållbarhetspriset and validation that our focus on sustainability is making a difference. Sustainability permeates everything we do and it’s gratifying to see that employees in every department share this mindset. This distinction is a source of pride for Speed Group and will spur everyone to continue this important work,” says Jesper Andersson, CEO of Speed Group.

About the Stora Hållbarhetspriset sustainability award
The Stora Hållbarhetspriset was established in 2021 by Borås Näringsliv, the University of Borås, the City of Borås and Sparbanken Sjuhärad through its owner foundation to inspire and encourage sustainable development that generates growth.

About Speed Group
Speed offers sustainable, flexible and innovative solutions to complex logistics and staffing challenges. Sustainability permeates the entire business, and the aim is to be carbon neutral by 2025. Speed has its head office in Borås, Sweden, and logistics centres in Borås, Gothenburg and Stockholm covering a combined total of more than 220,000 square metres. The company has sales of just over SEK 1.2 billion and approximately 1,500 employees.

For further information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 30 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Waterland acquires underground infrastructure specialist Van Vulpen

Mentha

Van Vulpen, a specialist in underground infrastructure, has found a new owner in Waterland Private Equity. The majority interest of Mentha and the management’s shareholding will be fully transferred to Waterland, with the current management reinvesting.

Van Vulpen is one of the top contractors in the Netherlands focusing on underground infrastructure, particularly in regard to electricity, gas and water. The Gorinchem-based company specializes in horizontal directional drilling, which enables it to lay pipelines and cables underground over large distances with minimal impact on the environment. Van Vulpen is highly regarded for the quality it delivers, its process-based approach and its leading position in the field of sustainability. This is underlined by the duration of its partnerships and its healthy contract portfolio. In 2019, Mentha took a majority stake in the company to further professionalize its operations and facilitate growth. Waterland is now taking up the challenge of further shaping this successful process.

Growth and professionalization
Mentha has spent the last few years making Van Vulpen stronger as a company, and less dependent on a few key figures within the organization, while nurturing the knowledge and experience that was available. For example, internally developed software was converted to a low-code platform so that the knowledge of external experts can also be used for its maintenance and further development.

Ralph Peeters has been in the role of general manager for a year now. He has built on the strong foundation that was already in place when he arrived. Under Mentha’s care, sales have grown by more than 40 percent since the end of 2019.

Ralph Peeters, general director of Van Vulpen, comments: “When I took office at the beginning of 2022, I joined a dynamic company with plenty of promise for the future. Talented employees, long-term relationships with clients and partners, and the quality of the work provided ensure a healthy starting position for further growth. We are grateful to my predecessor and to Mentha for this development and look forward to continuing this growth trajectory together with Waterland.”

Gijs Botman, partner at Mentha, adds: “Van Vulpen and Mentha share a similar drive: collaboration, quality and focus on effective digitization and processes. In 2019 we were impressed by what Van Vulpen had achieved so far and saw growth potential, which we were able to realize in a short time together with its strong team. The collaboration is now coming to an end, but we are convinced that Van Vulpen is in good hands with Waterland to ensure further growth.”

Categories: News

KKR appoints Lea-Sophie Cramer as an Industry Advisor

KKR
  • KKR further strengthens its expertise in digital transformation and advisory capabilities with appointment of serial founder and thought leader
  • Lea-Sophie Cramer will support KKR and select portfolio companies to identify and assess new investment and value creation opportunities by capitalizing on her entrepreneurial expertise and strong network

Frankfurt, Germany, 12 January 2023 – KKR, a leading global investment firm, has appointed Lea-Sophie Cramer as an Industry Advisor to KKR’s Private Equity team, further strengthening KKR’s expertise in the European e-commerce and broader technology sector. In her role, Lea will leverage her extensive expertise as an entrepreneur to advise KKR on investment opportunities and further support selected portfolio companies with international growth strategies.

Lea is a founder, investor and one of the most prominent voices for entrepreneurship and startup culture in Germany. After leading Groupon in Asia, Lea co-founded Amorelie in 2013. Today Amorelie is a leading e-commerce player for peoples’ love life and has contributed to repositioning and growing an entire industry. Eventually Amorelie was sold to ProSiebenSat.1 and Lea left her position as CEO of the company in 2019.

Lea is an active Business Angel and VC-fund Investor and a leading advocate for female leadership and entrepreneurship. In 2022 she founded the “10-More-In” academy with modern leadership programs for women. Lea previously served as Board member of Amorelie and Conrad Electronic and is currently an active Board member of the Swiss photo products company, Ifolor Group.

In her role as Industry Advisor to KKR, Lea will join the Board of Directors of KKR portfolio company Wella Company, one of the world’s fastest-growing beauty businesses. As a Non-Executive Board Director she will leverage her expertise in developing e-commerce solutions, growing sustainable and innovative consumer and professional brands and supporting the organization on accelerating its overall growth agenda. She will also leverage her deep insights into the DACH consumer market, one of the largest and most relevant markets for Wella Company. Over the last two years since KKR assumed a majority interest of Wella Company, the professional and retail hair, nail and digital beauty tech leader has significantly accelerated its global market share while also investing in making sustainability, diversity, equity and inclusion and social impact central to its mission. Wella Company recently published its first ESG Manifesto as a public pronouncement of its long-term impact plan for People, Planet and Products including reducing its carbon impact, engaging in sustainable manufacturing operations, and innovating its products for clean and green formulation.

Lea-Sophie Cramer, Industry Advisor for KKR, said: “For the past 15 years, I dedicated my energy to building and investing in innovative customer-centric, impact-driven brands in Germanys’ Tech and Start-Up scene. KKR invests in strategic partnerships with founders, entrepreneurs and management teams and supports their companies in realizing their full potential. In this regard, I am very excited to bring in my expertise as an Industry Advisor to KKR and its portfolio companies. It is a great opportunity to be joining the Board of Wella Company and its iconic brand portfolio. I am impressed by the company’s journey under the leadership of CEO Annie Young-Scrivner and look forward to working with her and the entire team.”

Philipp Freise, Partner and Co-Head of European Private Equity at KKR, commented: “We are thrilled to welcome Lea to our team. With her impressive track record as an entrepreneur and her status as a role model for founders across Europe, she brings a wealth of experience to our firm, particularly in the technology sector where we continue to accelerate our activities globally. Lea has repeatedly demonstrated her ability to lead diverse teams and her strong dedication to innovate. We look forward to benefiting from her knowledge as we continue to invest in companies that are driving the digital transformation.”

Laura Schröder, Director at KKR, said: “Lea is a natural fit for an Industry Advisor role at KKR as she compliments our firm’s efforts to accelerate innovation, with her unique entrepreneurial mindset, excellent leadership skills and brand-building expertise. Through her continued advocacy for female entrepreneurship and modern leadership, she has rightfully become one of the leading voices for startups and businesses in Germany.”

KKR is one of the most active investors focused on building leading global technology enterprises, with global tech investments including investments in Cegid, Exact Software, Darktrace, Onestream and Box among others. Across the DACH region, KKR has been investing on the ground for over 20 years primarily through strategic partnership deals such as in Axel Springer, Contabo, Körber’s supply chain business, Scout24 Switzerland and SoftwareOne.

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 Contacts KKR

Germany

FGS Global

Thea Bichmann

Mobile: +49 172 13 99 761

Email: kkr_germany@fgsglobal.com

  

Jan Reinholz

Mobile: +49 170 925 97 67

Email: kkr_germany@fgsglobal.com

 

 

Categories: People

Cinven announces Partner promotion

Cinven

International private equity firm, Cinven, today announces that it has promoted Juan Monge to Partner with effect from 1 January 2023.

Juan is a member of Cinven’s Strategic Financials Fund (‘SFF’) team and the Financial Services team, and has been involved in a number of transactions, including Cinven’s acquisition of specialty insurance broker Miller, alongside GIC. He joined Cinven in 2020.

Commenting on this promotion, Stuart McAlpine, Managing Partner of Cinven, said:

“I am delighted to announce the promotion of Juan to Partner. Since joining us almost three years ago, he has been a key member of the Financial Services team and driving force in the success of our inaugural SFF. Juan’s commitment and hard work has made a significant contribution to the success of the fund to date and will be instrumental as we continue to make further investments.”

Categories: People

Altor above 10% of the share capital in FLSmidth A/S

We hereby announce that we, Altor Fund Manager AB (“Altor”), on January 19th 2023 have increased our holding of shares in FLSmidth A/S (“FLSmidth”) to 10.5% of the issued and outstanding share capital and voting rights of FLSmidth. The rationale behind Altor’s acquisition of shares is further explained in the press release posted in the morning of January 19th 2023.

Altor controls, through Altor Fund (No.1) AB and Altor Fund V (No. 2) AB, the subsidiary, NewCo December 2022 AS (“NewCo”), who is the direct holder of shares in FLSmidth.

For more information, please contact:

Tor Krusell, Head of Communications, tor.krusell@altor.com, +46 705 43 87 47

Categories: News

3i-backed WilsonHCG acquires Personify

3I

3i Group plc (“3i”) today announces that WilsonHCG, an award-winning, global leader in talent solutions, has acquired Personify, a leading provider of recruitment process outsourcing (“RPO”) services to specialised end markets including life sciences, pharmaceuticals, biotechnology, and healthcare. The total purchase price was not disclosed, but as part of the transaction, 3i will invest c.$7m of additional capital alongside a significant reinvestment from Personify’s management.

Headquartered in Raleigh, North Carolina, Personify offers a turnkey talent solution that spans the entire talent acquisition life cycle, including services such as labour market analysis, candidate marketing, sourcing, interviewing, assessments, overall candidate management, and onboarding. The company focuses on higher-end, more specialised roles, often for hard-to-fill or high-demand positions in its core end markets.

Personify is a leader in its core markets and well regarded for its service quality, partnership mentality with clients and its flexible delivery model. Personify has consistently grown at rates that are above the broader RPO industry, and forecasts continued strong growth over the next few years, capitalising on many of the same favourable tailwinds that have benefitted WilsonHCG, including increasing adoption of outsourced talent acquisition solutions.

The acquisition provides WilsonHCG with further exposure to the attractive life sciences and healthcare markets, which represent key growth markets for both companies. Personify also provides additional capabilities to better serve existing customers and to expand the types of services that WilsonHCG can offer in the market. WilsonHCG’s global presence (with resources in 65 countries) and breadth of talent solutions will allow Personify to better serve its existing customers, including internationally, which is a key differentiator in today’s competitive talent environment.

Today’s acquisition is the third for WilsonHCG since 3i’s investment in February 2021 and follows the acquisition of Claro Analytics, a labour market intelligence platform, in February 2022, and Tracking Talent, an RPO headquartered in South Africa, in October 2022.

Ryan Carfley, President and CEO, Personify, said: “We are very pleased to be joining WilsonHCG. I have known John Wilson for many years, and there is a great cultural fit between our organisations. The partnership will enable us to scale our presence in our end markets and deliver globally for our existing clients.”

John Wilson, CEO, WilsonHCG, said: “Personify operates in attractive, growing areas in the RPO industry and its highly specialised capabilities will be an asset to WilsonHCG. We look forward to welcoming Personify and working closely with Ryan Carfley and his team to support Personify’s growth ambitions, especially as it pertains to delivering solutions internationally.”

Rahul Lulla, Partner, 3i, said: “WilsonHCG and Personify have strong alignment with complementary business models and customer-first mentalities. We look forward to supporting the teams as they continue to deliver great results for their existing customers and win new accounts.”

Categories: News

AE Industrial Partners Adds Longtime Aviation and Manufacturing Leader Dev Rudra as Vice President, Portfolio Strategy and Optimization Group

Ae Industrial Partners

BOCA RATON, FL— January 11, 2023 – AE Industrial Partners, LP (“AEI” or the “Firm”), a U.S-based private equity firm specializing in aerospace, defense and government services, space, power and utility services, and specialty industrial markets, announced today that Dev Rudra, an aviation and manufacturing executive with decades of expertise, has joined the firm as a Vice President in AEI’s Portfolio Strategy and Optimization Group. In this role, Mr. Rudra will be working closely with the Firm’s operating partners to improve operational performance across the Firm’s portfolio companies. His appointment is effective immediately.

“We’re pleased to welcome Dev to our Portfolio Strategy and Optimization Group. His extensive operations experience in aviation and manufacturing will be instrumental in driving value across our portfolio, and will also boost the Firm’s commitment to instituting ESG best practices within our companies,” said Mike Greene, Managing Partner of AEI.

As a global leader with over 25 years of experience in aircraft systems, aircraft engine maintenance and manufacturing businesses in the U.S., Singapore and Taiwan, Mr. Rudra has led multiple operational turnarounds, lean transformations, start-ups, consolidations and expansions over his career. Before joining AEI, Mr. Rudra was Managing Director of GE Aviation’s Singapore engine part repair and manufacturing operation. Previously he served in various roles at United Technologies, most recently as Director of Worldwide Repair Strategic Operations. He started his aviation career with Pratt & Whitney, where he developed his expertise in lean manufacturing and supply chain operations. Mr. Rudra holds a BE from Delhi University, and an MSE and MBA from the University of Michigan.

“AEI’s differentiated focus and experience in its target markets has enabled the firm to build a strong, strategic portfolio of innovative companies in aviation, aerospace and defense,” said Mr. Rudra. “I look forward to working closely with the management teams atour portfolio companiesto help optimize business performance, while also positioning them to be ESG innovators in their respective industries.”

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.

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Media Contacts: 

Lambert

Jennifer Hurson

jhurson@lambert.com

845.507.0571

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Beth Wiegard

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616.258.5777

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KKR Commits to Invest an Additional $1.15 Billion in Aircraft Leasing with Altavair

KKR

NEW YORK & SEATTLE–(BUSINESS WIRE)– KKR, a leading global investment firm, and Altavair L.P., a leader in commercial aviation finance, today announced that KKR is making an additional $1.15 billion commitment to expand its global portfolio of leased commercial aircraft in partnership with Altavair. The investment will come from KKR’s credit and infrastructure funds.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230111005843/en/

KKR has deployed and committed $1.7 billion of capital into aircraft deals since forming a partnership with Altavair and acquiring an interest in the company in 2018. KKR, in partnership with Altavair, has acquired more than 90 commercial and freighter aircraft through a variety of transactions, including lessor trades, airline direct used and new delivery sale leasebacks, structured transactions and passenger-to-freight conversions and has successfully leased more than 75% of the portfolio to tier-one airlines and operators around the world.

“We are thrilled to deepen our footprint in aircraft leasing through this new commitment, which underscores the conviction that we have in this space and our confidence in Altavair as a partner,” said Dan Pietrzak, KKR Partner and Co-Head of Private Credit. “We look forward to growing our portfolio further to support the fleet needs of airlines and operators around the world.”

“Airlines are increasingly seeking greater liquidity and fleet flexibility, which is creating significant opportunities for high quality leasing teams with deep access to private capital,” said Brandon Freiman, KKR Partner and Head of North American Infrastructure. “We are proud to serve this growing need in partnership with Altavair.”

“Aircraft leasing continues to be a dynamic and growing market that offers compelling and differentiated opportunities for experienced investors,” said Steve Rimmer, CEO of Altavair. “The portfolio that we’ve created over the past several years further evidences the power of combining KKR’s quality capital and capabilities with Altavair’s deep technical and aircraft investing expertise and innovation. We greatly appreciate KKR’s ongoing trust in our platform and look forward to building further on this success in the years to come.”

KKR has invested approximately $8.3 billion of capital in the aviation sector since 2015. Investments include Altavair, AV AirFinance, Atlantic Aviation, KKR DVB Aviation Capital, K2 Aviation, Wheels Up, Global Jet Capital and Jet Edge, among others.

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.

About Altavair L.P.

Altavair L.P. is an asset manager focusing on the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Since its inception in 2003, Altavair has completed over $10 billion in commercial aircraft lease transactions with over 60 airline customers in 28 countries representing over 200 individual Boeing and Airbus aircraft. Altavair maintains offices in Seattle, London, Dublin and Singapore. For more information, please visit www.altavair.com.

 

Media:
KKR
Julia Kosygina or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Altavair
Timothy O’Hara
425-369-8062
timothy.ohara@altavair.com

Source: KKR

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Mentha invests in Amsterdam Data Collective to support international growth strategy

Mentha

Mentha enters into a partnership with Amsterdam Data Collective (ADC). The integrated data science consultancy is among the fastest growing companies in the Netherlands and will accelerate their international growth ambitions starting with the merger with DAMVAD Analytics.

Since 2017, the team at Amsterdam Data Collective have helped organisations become more data-driven, particularly within the financial, healthcare, and public sectors. ADC has since grown to more than 80 employees by focusing on sector specialisation and refining a collective company culture of people who share a common goal of making a positive impact with data science. The FD Gazellen Awards 2022 marked the success of ADC’s collective culture, ranking the company among the top 20 fastest growing companies in the Netherlands for two years in a row. Next to that, ADC received multiple Great Place to Work certifications based on employee surveys.

ADC’s international expansion strategy started in 2022 with the opening of an office in Copenhagen. As part of the partnership with Mentha, ADC is now able to accelerate its expansion plans in the Nordics by merging with DAMVAD Analytics, a data science consultancy based in Denmark and Sweden. The DAMVAD Analytics team consists of around 30 consultants and has a strong presence in pharmaceuticals, financial services, the public sector, and philanthropy.

“Following the opening of the Amsterdam Data Collective office in Copenhagen, the investment by Mentha provides ADC with the opportunity to accelerate growth in the Nordics and merge with DAMVAD Analytics. We look forward to take the next steps in our international growth story with Mentha and believe the added diversity and expertise of the enlarged ADC team will lead us to create better solutions with more impact”, says Rik van der Woerdt, Co-Founder and CEO of Amsterdam Data Collective.

With a team of more than 110 experts in data strategy, data engineering, data science and data visualisation, ADC is able to offer a complete Data-Driven Organisation proposition to the market. ADC aspires to become a leading data science agency on a European scale and, as part of the collective company culture, the broader employee base will be shareholders alongside Mentha in this growth journey.

Dirk Vriend, Investment Director at Mentha: “We value ADC for its collective culture and their drive to use data science to make a positive impact. Together with the enterprising team, we expect to continue ADC’s strong growth track by attracting and retaining talent, developing innovative integrated data science solutions and accelerating expansion through an international buy-and-build strategy.”

About Mentha

Headquartered in Amsterdam and founded in 2006, Mentha is an independent private equity firm active at the lower end of the mid-market. Mentha invests in established, mid-sized and profitable companies with clear opportunities for growth along multiple avenues, such as organic growth, expansion in new markets or through buy-and-build. The entrepreneurial team is a strong collective of investment professionals, with solid financial and operational business experience. Mentha likes to team up with entrepreneurs and enterprising management teams to jointly realise ambitious growth plans. With its companies, Mentha seeks an active approach that is based on true entrepreneurship, growth acceleration and transformation, and is spurred by the human factor and sustainability.

About Amsterdam Data Collective Amsterdam Data Collective (ADC) is an integrated data science agency. The European consultancy helps organisations become data driven through data strategy, data engineering, data science, and data visualisation. ADC perceives data as part of a bigger whole that includes people, management, cultures, processes, and technology to make data work for organisations. ADC believes their collective culture is the key to success, because people thrive in a well-connected group. For more information: https://amsterdamdatacollective.com

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Duck Creek Agrees to be Acquired by Vista Equity Partners for $2.6 Billion

Apax

Duck Creek Technologies (NASDAQ: DCT), the intelligent solutions provider defining the future of property and casualty (P&C) insurance, today announces it has entered into a definitive agreement to be acquired by Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, for $19.00 per share, in an all-cash transaction valued at approximately $2.6 billion.

Under the terms of the agreement, Duck Creek shareholders will receive $19.00 per share in cash, which represents a 46% premium to Duck Creek’s closing stock price on January 6, 2023, the last full trading day prior to the transaction announcement, and a premium of approximately 64% over the volume weighted average price of Duck Creek’s stock for the 30 days ending January 6, 2023.

“This transaction is a testament to the value of the Duck Creek platform, the success of our strategy and the strength of our incredible team. Following a deliberate and thoughtful process, the Board approved this transaction which delivers a great outcome for Duck Creek’s shareholders, providing them a certain and substantial cash value at an attractive premium,” said Michael Jackowski, Chief Executive Officer of Duck Creek. “Duck Creek is proud to have pioneered cloud-based mission-critical systems for the P&C insurance industry to deliver a best-in-class customer experience. We are excited to enter the next chapter for Duck Creek in partnership with Vista Equity Partners to continue supporting P&C insurance carriers’ move to the cloud.”

“Duck Creek is playing an outsized role in accelerating cloud strategies and unlocking all the advantages they provide this crucial sector of today’s economy,” said Monti Saroya, Senior Managing Director and Co-Head of Vista’s Flagship Fund. “Duck Creek’s modern cloud architecture and demonstrated market traction position it to define the next generation of mission-critical technology for P&C insurance.”

“Vista has an established track record of partnering with leading enterprise software businesses within the insurance industry and related verticals,” said Jeff Wilson, Managing Director at Vista. “We are excited to work with the Duck Creek team as we look to build on their best-in-class platform and solutions, which serve many of the world’s leading P&C insurance carriers.”

Certain Terms, Approvals and Timing

Transaction negotiations were led by a Special Committee of the Duck Creek Board of Directors, composed entirely of independent and disinterested directors. Following the recommendation of the Special Committee, the Duck Creek Board of Directors approved the merger agreement with Vista Equity Partners.

The transaction is expected to close in the second calendar quarter of 2023, subject to the satisfaction of customary closing conditions, including approval by Duck Creek’s stockholders and U.S. antitrust clearance. Upon completion of the transaction, Duck Creek’s common stock will no longer be publicly listed, and Duck Creek will become a privately held company. Vista Equity Partners intends to finance the transaction with fully committed equity financing that is not subject to any financing condition.

The agreement includes a “go-shop” period expiring at 11:59 p.m. Eastern time on February 7, 2023, which allows Duck Creek’s board of directors and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties. Duck Creek’s board of directors will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Duck Creek does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or otherwise required.

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About Duck Creek Technologies

Duck Creek Technologies (NASDAQ: DCT) is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

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