Archives

David Krancenblum joins KKR as Head of France for Credit & Markets

KKR

Appointment reflects strong growth momentum in KKR’s Credit & Markets segment in France and growing Paris-based team

Paris, 30th August, 2022 – KKR, a leading global investment firm, today announced the appointment of David Krancenblum as Head of France for Credit & Markets, effective immediately. David Krancenblum will be based in Paris.

Mr. Krancenblum will cover all credit and capital markets transactions in France, including senior and junior private debt, structured capital and capital markets solutions for French financial sponsors and corporates.

Prior to joining KKR, Mr. Krancenblum was in the Leveraged & Acquisition Finance team at Morgan Stanley, focusing on the origination and execution of sub-investment grade financings in France across a wide range of credit profiles and situations. Mr. Krancenblum started his career at Credit Suisse where he successively worked in the Leveraged Finance Origination & Restructuring team, and the Leveraged Finance & Sponsors Group. Mr. Krancenblum holds a Master’s Degree in Management from HEC Paris.

Matthieu Boulanger, Partner and Co-Head of Private Credit, said: “David is an exceptional addition to the team. His arrival will bolster an already strong momentum, testimony to KKR’s commitment to France, one of Europe’s most dynamic credit markets.”

Jérôme Nommé, Partner and Head of KKR France, said: “We continue to grow our team in Paris across KKR’s full range of strategies, and are delighted to welcome David and the expertise he brings. David’s appointment will help us to further deepen our credit and capital markets offering in this market, reinforcing KKR’s ability to provide tailor-made solutions to French founders and entrepreneurs.”

David Krancenblum, Head of France for Credit & Markets, said: “The breadth of KKR’s credit product offering is a strong fit for the French client universe: our versatile private debt range, combined with our capital markets solutions, offers the agility they need for their strategic transactions across cycles.”

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.

Contacts

FGS Global
Nathalie Falco
+33 (0)6 30 64 90 15
nathalie.falco@fgsglobal.com		 Xavier Mas
+33 (0)6 82 52 76 42
xavier.mas@fgsglobal.com

Categories: People

Oakley invests in Phenna Group and CTS Group

Oakley

Oakley Capital (“Oakley”) is pleased to announce that Fund V is investing in leading Testing, Inspection, Certification, and Compliance (“TICC”) platform, Phenna Group (“Phenna”), in partnership with co-founders Paul Barry (CEO) and David Harrison (CFO) who are reinvesting into the business.

In parallel, Oakley has also acquired CTS Group (“CTS”), a leading provider of testing and inspection services in the U.K., focussed on the infrastructure market. CTS will become part of Phenna Group upon completion of both transactions.

Phenna Group

Formed in 2018, Phenna has rapidly emerged as one of the fastest growing TICC groups globally, with revenue growth of circa 100% CAGR over the last three years. Today the group comprises 31 independent businesses which provide specialist TICC services across infrastructure, built environment, niche industrial, pharmaceutical and certification and compliance divisions. The business operates across 12 countries in four continents.

Quote Paul Barry

We were attracted to Oakley’s deep expertise in M&A execution and integration, as well as their strong track record in helping businesses to internationalise at scale. As we look to the future, we’re excited to be working with them and together delivering on our mission to grow Phenna into a leading global TICC player.

Paul Barry

Founder and CEO — Phenna Group

CTS Group is a leading provider of testing, inspection and geoengineering consulting services in the U.K., primarily focussed on long term civil infrastructure projects. The business has more than doubled revenues over the last three years through organic growth and targeted acquisitions.

CTS will become part of Phenna Group upon completion of both deals. The existing CTS management team will continue to lead the business within the wider group. CTS and Phenna Group offer complementary services. Their combined UK wide network of laboratories, site based services and geotechnical expertise will ensure customers benefit from an expanded service offering.

Phil Coles, CEO of CTS Group, commented: “Oakley’s approach and their track record in driving business growth through M&A complimented that of CTS and our incredible growth story to date. The opportunity that then presented itself to continue this within Phenna, with the immense success that Paul and the team have had to date, was ideal and provides a great future for the business as part of a larger, incredibly ambitious, international group.”

Quote Peter Dubens

Phenna Group is exactly the kind of entrepreneurial disruptor that Oakley was founded to support. We are pleased to have been able to help them with the acquisition of CTS Group, one of the pre-eminent testing brands serving UK infrastructure customers. We believe Phenna has the potential to become one of the leading TICC groups in the world and look forward to supporting them to achieve that vision.

Peter Dubens

Founder and Managing Partner — Oakley Capital

Market Dyanmics

The global TICC market is worth over £200 billion and remains highly fragmented with the top 10 groups accounting for only 12% of the market. The market is forecast to grow at over 5% p.a. driven by regulatory trends, increased outsourcing, and exposure to growing end markets. Customer demand is typically non-discretionary due to mandatory testing requirements. Customers are highly loyal. Phenna is diversified across multiple end markets and geographies.

Phenna Image
Phenna Group – one of the fastest growing TICC groups globally.

Phenna has emerged as the strategic acquirer of choice for best of breed specialist TICC companies due to its unique partnership approach, which allows leading TICC entrepreneurs to continue to operate their businesses whilst also having all the benefits of being part of a larger global business. Oakley’s investment will allow Phenna to continue to grow rapidly into new verticals and geographies.

Oakley was advised by DC Advisory, Simpson, Thacher & Bartlett, PWC, BCG and KPMG in connection with this transaction.

Categories: News

Tags:

Adelis passes the baton in Nordentic to Corus

Adelis Equity

Adelis Equity Partners Fund I (“Adelis”) divests its majority stake in Nordentic, the largest dental labs Group in the Nordics, to Corus. Corus is a leading dental labs Group in Europe, with operations in France, Spain, the Netherlands, Belgium and Portugal.

Adelis invested in Nordentic in 2017, in partnership with the founders and key management of Nordentic, including the CEO, Johnny Tekin. During Adelis’ ownership, over 20 dental labs have come together as one Group, and as a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.

“Johnny, the rest of Nordentic’s management, and the lab managers have done a fantastic job transforming Nordentic as well as managing the company through the challenging times of Covid-19. We are proud of what we have achieved together and look forward to following Nordentic in its journey together with Corus”, say Hampus Nestius and Joel Russ at Adelis.

Thomas Berglund, Chairman of Nordentic says: “It has been an honor to work with the team of Nordentic. Through joint efforts, we have created a strong company for our customers, employees, and owners.”

“Adelis and our board of directors have been great partners to Nordentic, and I am very grateful for their contribution over the past years. They have been material in helping us set and deliver on the vision of Nordentic and have been a good speaking partner on both strategic and operational matters. I am very excited to join forces with Corus. We are both pioneers in the industry. I look forward to shaping the future of our industry together with them,” says Johnny Tekin, CEO of Nordentic.

The parties have agreed not to disclose the purchase price. The transaction is expected to close during Q3 2022.

Adelis was advised by Clearwater International, White & Case and Svalner on the transaction.

For further information:

Johnny Tekin, Nordentic, johnny.tekin@nordentic.com

Joel Russ, Adelis Equity Partners, joel.russ@adelisequity.com

Hampus Nestius, Adelis Equity Partners, hampus.nestius@adelisequity.com

About Nordentic

Nordentic is the leading dental lab company in Scandinavia with over 20 labs that have come together as one group since 2016. Nordentic has been a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 35 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com.

Categories: News

Tags:

Altor supports H2 Green Steel on EUR 190 million funding round

Altor

Altor Fund V (Altor) continues to support the Swedish green impact company H2 Green Steel in its first close of the Series B equity financing. The key investors in the financing round next to Altor are AMF, GIC, Schaeffler, Swedbank Robur and Vargas Holding. Existing shareholders continue to support the company with additional equity funding, including such investors as Kingspan, FAM, Marcegaglia, IMAS Foundation, Cristina Stenbeck and Daniel Ek.

Altor was also part of the initial Series A equity financing in March 2021.

H2 Green Steel was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The company has proceeded in record pace receiving a permissibility permit for its operations in Boden, securing a 14TWh agreement for renewable electricity and initiating ground works and construction.

”We are excited to continue supporting H2 Green Steel. It fits perfectly with our increased efforts to invest in green transition opportunities, where we have made a number of other investments such as OX2, Svea Solar and Vianode. H2 Green Steel has proven the demand of its products by already having more than 50% of its initial volumes pre-sold to customers across a range of industries, from passenger vehicles and white goods to steel trading clients” says Klas Johansson, Partner at Altor.

“This financing milestone is a real statement of confidence in H2 Green Steel. Despite the uncertainty in global markets, a venture like ours, with both a strong business case and a strong sustainable purpose, is clearly attractive to investors. This financing round has allowed us to combine leading industrial companies and global financial institutions, with investors with a strong Swedish participation, creating the investor- base, that will set us up for success,” says Henrik Henriksson, CEO of H2 Green Steel.

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 85 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are OX2, Vianode, Svea Solar and Nordic Climate Group. For more information visit www.altor.com

About H2 Green Steel
H2 Green Steel (H2GS AB) was founded in 2020 with the ambition to accelerate the decarbonization of the steel industry, using green hydrogen. Steel, which is one of the world’s largest carbon dioxide emitters, is the company’s first business vertical. The founder and largest shareholder of H2 Green Steel is Vargas, which is also co-founder and one of the larger shareholders in Swedish battery maker Northvolt. H2 Green Steel is headquartered in Stockholm, Sweden, with its first green steel plant under development in Boden, northern Sweden. www.h2greensteel.com

Author: Katarina Karlsson
Date: 2022.08.30
Categories: News

Categories: News

Tags:

Gilde Healthcare Acquires Sanquin Reagents

GIlde Healthcare

The specialized private equity fund invests in scaling-up production and development of new medical tests

Gilde Healthcare, a specialized healthcare investor, today announces its intention to acquire Sanquin Reagents from Sanquin Health Solutions (SHS) with its private equity fund. Sanquin Reagents produces and sells blood group and immune reagents, materials needed for diagnostic research and drug development. Sanquin Reagents is an international producer in the field of hematology and immunology reagents, supplying tests to laboratories for medical diagnostics and research.

The investment by the private equity fund of Gilde Healthcare offers Sanquin Reagents the opportunity to scale up the production of diagnostic tests and to strengthen its leading position in the development of immunoreagents. Sanquin Reagents will remain located in the New West Health & Innovation District in Amsterdam, where it is part of an international platform of innovative companies and organizations in the field of transfusion medicine, hematology, oncology and immunology. Gilde Healthcare will invest in the growth of Sanquin Reagents’ high-quality scientific research team, building on its specialist knowledge and strong international reputation.

Sanquin Health Solutions (SHS) is active in the fields of diagnostics, in vitro reagents, technology innovation and science campus development. It invests in start-ups and scale-ups in order to foster future growth under new ownership. “Sanquin Reagents has been able to develop well within Sanquin’s network over the past few years. There is a great product line, a solid organization, and an incredible amount of knowledge and potential for new products. Under Gilde’s wing, Sanquin Reagents will certainly be able to grow and make even more of an impact. Patients worldwide will benefit from this,” says Pieter de Geus, Managing Director of SHS.

For Gilde Healthcare, the investment in Sanquin Reagents is the first investment of its recently announced €517 million Private Equity Fund IV (GHPE IV). “We are very happy with this announcement. We invest in companies that enable better healthcare at lower cost. Sanquin Reagents’ strong R&D focus on developing new reagents fits with this investment philosophy. We see ample opportunity to expand the unique research and production capabilities and develop new reagents,” said Hugo de Bruin, partner at Gilde Healthcare.

“We are proud of our history and the strong market position we have built. It is our ambition to become the most innovative developer and manufacturer of hematology and immune reagents. The collaboration with Gilde Healthcare enables us to attract new talent and expand our network,” says Harry Bos, PhD, Managing Director of Sanquin Reagents.

The acquisition, which is still subject to the usual approval under the Works Councils Act, is expected to be completed in the coming months.

Contact details:
Hugo de Bruin (Partner)
email: debruin@gildehealthcare.com
Mob: +31.6.55301905

Pieter van der Meer (Managing Partner)
email: vandermeer@gildehealthcare.com
Mob: +31.6.54308551

About Sanquin Health Solutions
It is the mission of Sanquin Health Solutions (SHS) to fully unlock and utilize the potential of blood and science for the benefit of patients. SHS is the parent company of Sanquin’s private activities in the fields of diagnostics, in vitro reagents, technology innovation and science campus development. SHS also has a number of participating interests. SHS is 100% owned by the Sanquin Blood Supply Foundation. Proceeds from SHS’s commercial activities benefit, among other things, its research activities, which are used to develop new drugs and treatment methods.

About Sanquin Reagents
Reagents are products used in hospital laboratories to demonstrate certain characteristics or abnormalities in blood samples. Sanquin Reagents was one of the first producers of blood group reagents. Sanquin Reagents develops a wide range of blood group and immune reagents in its own research facilities and diagnostic laboratories. The products are available worldwide through a network of distributors.

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.9 billion ($2.0 billion) across two fund strategies: Private Equity and Venture&Growth. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). The Private Equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers to pharma, medtech and healthcare. Gilde Healthcare’s Venture&Growth fund invests in therapeutics, medtech and healthtech in Europe and North America. More information: www.gildehealthcare.com

Categories: News

Tags:

KKR Launches Highways Infrastructure Trust in India

KKR

Launch marks KKR’s third infrastructure investment trust in India

Strengthens KKR’s ability to pursue opportunities in transportation, renewables, and power

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Highways Infrastructure Trust (“HIT”), a roads infrastructure investment trust (“InvIT”). HIT is KKR’s third InvIT in India, in addition to Virescent Renewable Energy Trust, India’s first renewable energy InvIT, and India Grid Trust, a leading transmissions InvIT, and marks KKR’s latest development as it scales its infrastructure investment activity in the country. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 states or union territories across India.

HIT’s initial portfolio comprises of six roads assets with a total length of more than 450 kilometers across six states in India. The assets, which include a diversified mix of toll and annuity roads, are located in Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana. In addition, HIT is considering a pipeline of acquisition targets, including through its sponsor. The platform possesses significant growth potential and seeks to invest in high-quality assets, including through bolt-on acquisitions.

HIT has been assigned a ‘Provisional AAA/Stable’ rating for its loan facilities from CRISIL, S&P’s India affiliate. The rating reflects the assets’ favorable location and geographical diversity, as well as strong track record of revenue.

HIT’s launch takes place on the back of growing demand to expand India’s road network, the second-largest globally, as passenger traffic and commercial vehicle traffic continue to increase. Today, India’s road network is responsible for 90% of total passenger traffic and the movement of almost 65% of all goods across the country.1

Hardik Shah, Partner at KKR, said, “HIT’s launch is a significant milestone for KKR’s India infrastructure strategy as we deepen our presence in the market. Highways and roads play a critical role in driving India’s economic prosperity and connecting its citizens, and we look forward to enabling further infrastructure creation and expansion as transportation demands continue to grow. With our dedicated platforms across transmissions, roads, and renewables in place, KKR is well-positioned to collaborate with sellers in the private markets and the government through the National Monetisation Pipeline on attractive investment opportunities.”

In Asia Pacific, KKR takes a flexible approach to infrastructure investment and combines local knowledge and capabilities with the Firm’s global industry and operational expertise. Globally, KKR’s infrastructure portfolio spans a broad range of sectors including transportation, renewable energy, power and utilities, water and wastewater, and telecommunications, among others, and manages more than $40 billion in assets.

In India, KKR sees transportation, renewable energy, and electricity transmissions as core to its infrastructure strategy. The launch of HIT additionally strengthens KKR’s longstanding commitment to India. Since setting up its Mumbai office in 2009, KKR has made more than 20 investments in India with more than a dozen active portfolio companies today.

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.

1 India Brand Equity Foundation (August 2022): Roads Industry Report

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

Source: KKR & Co. Inc.

Categories: News

Tags:

Sigmax chooses for growth acceleration with investor Quadrum Capital

Quadrum Capital

Enschede, June 25th – Sigmax has been providing successful software solutions for 24 years with a strong focus in recent years on safe and livable cities, public transport and service organisations. With a leading market position in various domains, Sigmax wants to continue to develop at the highest level. From June 2022, the organisation has chosen to cooperate with Quadrum Capital, an independent investment company that helps companies grow responsibly by contributing its network, capital and management experience.

image

Sigmax, Enschede

Leo van den Ende, CEO and co-founder of Sigmax: “The strength of this partnership allows us to make our solutions functionally broader and richer. By further investing in our knowledge and people, we are responding to the increasing demand for digitisation and growing scarcity of tech professionals”.

Potential for strong international position

Ingeborg Schepers, investment director at Quadrum Capital: “Sigmax creates complex software solutions for social issues and has the potential to take up a strong international position. From a solid basis, we are continuing to build an extremely reliable technology organisation that can continue to provide its European customers with high-quality software products and services thanks to highly motivated and experienced professionals”.

Confidence for the future

In 2019, Sigmax and Quadrum Capital successfully worked together on the corporatisation of Exite ICT, Sigmax’s former ICT division. From this positive experience, they look to the future with confidence. Van den Ende: “Quadrum Capital shares our entrepreneurial mentality, commitment and Twente roots. We are excited to work with them in this next phase of international growth”.

Building further from Kennispark Enschede

Sigmax will realise its international growth ambitions from its headquarters at Kennispark in Enschede. According to Van den Ende, the Kennispark is an important location for attracting highly skilled employees: “Thanks to good connections with Saxion University and the University of Twente, combined with a very attractive residential, working and living environment, Kennispark Enschede offers the best possible basis for further growth for Sigmax”.

About Sigmax Sigmax is an internationally operating software organisation with a focus on safe and liveable cities, public transport and service organisations. Sigmax makes the work of thousands of professionals in these areas easier and processes more efficient on a daily basis. Sigmax’s customer portfolio includes the municipalities of Amsterdam and Antwerp, Dutch Railways and Carglass.

More information: www.sigmax.nl

About Quadrum Capital Quadrum Capital is a nationally operating investment company with an entrepreneurial mindset and strong roots in the Eastern Netherlands. In recent years Quadrum Capital has built up a broad portfolio of participations in various industries, including ICT & Software. As a committed partner, Quadrum Capital focuses on the responsible growth of companies by contributing its network, financial strength and management experience.

Categories: News

Tags:

Arsenal Capital Partners Announces Final Closes of Two New Funds Totaling $5.4 Billion

Arsenal Capital Partners

Fund VI Closes with $4.3 Billion and Surpasses $3.0 Billion Target
Inaugural Growth Fund Closes at its Hard Cap with $1.1 Billion and Surpasses $750 Million Target

August 15, 2022

New York, NY- Arsenal Capital Partners (“Arsenal”), a leading private equity firm that specializes in investments in industrial growth and healthcare companies, announced today that it has completed fundraising for two new funds, totaling $5.4 billion in capital commitments.

Arsenal Capital Partners VI LP (together with its parallel funds, “Fund VI”) closed with $4.3 billion in capital commitments, well exceeding its $3.0 billion target of limited partner commitments and well above the size of its $2.4 billion predecessor fund. In addition, Arsenal Capital Partners Growth LP (together with its parallel funds, the “Growth Fund”) closed with $1.1 billion in capital commitments at its hard cap and exceeded its $750 million target of limited partner commitments.

“We are extremely grateful for the support from and relationships with our long-time investors,“ said Terry Mullen, Managing Partner of Arsenal. “We achieved a gratifying, high re-up rate from our existing institutional investors, who on average increased their commitments by 59% from the previous fund, and we are delighted to have attracted an exceptional group of new investors that will further bolster our market-leading institution.”

Over its 22-year history, Arsenal has built a leading private equity institution with two market-leading franchises in the industrials and healthcare sectors. Within its two focus sectors, Arsenal aims to create highly valuable, technology- and innovation-rich, growth companies that are strategically important to their markets. Arsenal’s team of more than 85 professionals and 55 senior advisors combines specialized investment, industry, and operating expertise into one integrated and balanced team to provide differentiated strategic insights, combine diverse perspectives, and leverage expert capabilities.

“The success of these fundraises reflects the strength of our market-leading franchises and our track record of building strategically valuable businesses. We and our investors see exciting opportunities to invest in technology- and innovation-rich companies in the industrial and healthcare sectors,” commented Jeff Kovach, Managing Partner of Arsenal. “Moreover, investors have acknowledged the depth of our domain and technical expertise that provides Arsenal the access, relevance, and credibility to compete and win in our target markets.”

Fund VI will focus on investments in industrials and healthcare businesses with proven technologies and solutions positioned to deliver high performance and value-add to their customers. The Growth Fund will execute a similar strategy in the same markets but pursue investments in next generation, emerging technology businesses poised to apply innovation to generate very high growth. In both of these funds, Arsenal will apply its high-impact company building capabilities to help businesses achieve significant organic growth and facilitate strategic acquisitions to extend their offerings and to solidify leadership positions in their respective markets.

Patricia Grad, Partner and Head of Investor Relations of Arsenal, added, “We are grateful for this global group of institutions and individuals who have supported our firm and greatly appreciate the collaborative dialogue that we had with them as we crafted these investment opportunities, particularly our debut Growth Fund. We look forward to deepening and strengthening our partnerships with our investors for years to come.”

Fund VI and the Growth Fund’s investor base is comprised of leading public and corporate pension plans, family offices, endowments and foundations, and financial institutions, including The University of California’s Office of the Chief Investment Officer (UC Investments), California State Teachers’ Retirement System, California Public Employees’ Retirement Systems, affiliates of APG Asset Management, The Oregon Public Employees Retirement Fund, affiliates of IIP A/S, and Minnesota State Investment Board.

Kirkland & Ellis LLP served as legal counsel for Arsenal, Fund VI, and the Growth Fund.

Contact:
Jackie Schofield at Prosek Partners
Pro-Arsenal@prosek.com

Categories: News

Tags:

Quadrum Capital sells stake in Bark Packaging Group to Berlin Packaging

Quadrum Capital

Woerden, 25th August 2022 – Quadrum Capital is pleased to announce that an agreement has been reached for the acquisition of Bark Packaging Group, specialist in industrial, flexible and UN-certified packaging, by Berlin Packaging, global leader in packaging distribution. At the same time the announcement was made that DeeDee Verpakkingen, specialist in flexible packaging, has been acquired by Bark Packaging Group and will therefore also become part of Berlin.

image

Bark Packaging Group

On Thursday 25th of August the announcement was made that a definitive agreement had been reached to sell the shares of Bark Packaging Group, a supplier of industrial, flexible and UN-certified packaging and portfolio company of Quadrum, to Berlin Packaging, the world’s largest “hybrid” supplier of (mainly) rigid packaging. At the same time it has been announced that Bark Packaging Group has completed the acquisition of DeeDee Verpakkingen, a supplier of flexible packaging especially active in innovative stand-up pouches. With this acquisition Berlin Packaging has significantly strengthened its position on the Northern European market and DeeDee Verpakkingen, together with Bark Verpakkingen, Bark Innovations, Dutch Pack International and Carepack, become part of Berlin Packaging.

In March 2020, Quadrum invested in Bark from its second fund, Quadrum Investment Fund II, acquiring a stake alongside Erik Bos and Berny Plas, the two directors and fellow shareholders. A key pillar of the investment strategy was to enable the Eerbeek-based company to accelerate growth, both organically through product innovation and international expansion, and through a buy & build strategy focused on complementary specialists. This led in 2021 to the acquisition of Carepack, a specialist in UN-certified packaging for hazardous substances, and continued in June 2022 with the acquisition of DeeDee, active in flexible packaging. These acquisitions fitted perfectly with Bark’s strategy of expanding its key position in its customers’ supply chains, aimed at unburdening customers as much as possible by providing them with all their packaging management needs.

Gert van Drie, Investment Director at Quadrum: “Faster than expected, but with appropriate pride we now say goodbye to Bark. It is an excellent example of successful cooperation with an enterprising management team of Erik Bos and Berny Plas”. Dennis de Buijzer, Investment Manager, adds: “We have enjoyed working with management to build the Bark Packaging Group and are very grateful for their leadership in making this a success. We are proud to have been a part of this and wish Erik and Berny all the best with the further growth of the company in the coming years.”

Erik Bos, CEO and co-shareholder of Bark Packaging Group: “We are grateful for Quadrum’s support in the past years, in which they have given us the confidence and entrepreneurial freedom to further build the company. This has brought us to the current Bark, which as a platform is ready to realise further growth.” Berny Plas, founder and co-shareholder of Bark Packaging Group: “We look forward to starting this new chapter in our history with Berlin Packaging. Together we can offer our customers a wide range of advanced solutions and offer our people even more opportunities.

“We are thrilled to be joining forces with Bark and Berlin Packaging. This partnership opens up so many new opportunities for our team. Everyone at DeeDee is ready to help our new and existing customers find the perfect pouch for their product,” said Elke Coolen and Inge Louwers, Directors of DeeDee

“Bark and DeeDee will be a great addition to Berlin Packaging. Both companies have a lot of knowledge and expertise in their respective markets, and we are delighted to add both companies to Berlin Packaging,” said Paolo Recrosio, CEO of Berlin Packaging EMEA. Marcel Schröder, CEO Benelux/Nordics/DACH of Berlin added: “We welcome all new colleagues who will bring new opportunities to Berlin. No doubt this combination will bring our customers in Northern Europe and beyond many new success stories”.

“The addition of Bark including DeeDee will give Berlin a stronger foothold in Northern Europe, especially for flexible and UN-certified packaging. We also will expand our industrial packaging capabilities in Northern Europe, including Germany, a key European market,” said Bill Hayes, Global CEO of Berlin Packaging.

As part of Berlin Packaging, the continuity of the company and the retention of staff is guaranteed, with the management team led by Erik Bos, Berny Plas and, since last year, Konrad Eichberger continuing their work. The closing of the acquisition is subject to the usual conditions and will be finalised in the coming period.

About Bark Packaging Group Since its foundation in 1978, the Bark Packaging Group from Eerbeek has grown from a traditional packaging wholesaler to an important link in the supply chain of its customers. As a specialist in packaging management, Bark Packaging Group provides, in addition to supplying industrial, flexible and UN-certified packaging, the complete packaging needs of its customers by unburdening them in the field of purchasing, logistics, stock management and financing. These business models are well known as “Outsourcing Concept” and “Tail-end Management concept”.Besides the aforementioned Bark Packaging Group offers customers support from its own innovation center Bark Innovations in the field of the development of new packaging concepts and the (re)design of packaging.

For more information: www.barkpackaginggroup.com

About Berlin Packaging Berlin Packaging is the world’s largest Hybrid Packaging Supplier® of glass, plastic, and metal containers and closures. The company supplies billions of items annually along with package design, financing, consulting, warehousing, and logistics services for customers across all industries. Berlin Packaging brings together the best of manufacturing, distribution, and income-adding service providers. Its mission is to increase the net income of its customers through packaging products and services.

Please visit www.berlingpackaging.com and www.berlinpackaging.eu for more information.

Categories: News

Tags:

Interstellar completes significant refinancing with Barings

Quadrum Capital

Further support in long-term growth strategy

Woerden, 26th of August 2022 – Interstellar Group (Interstellar) has completed a significant refinancing with international investmentcompany Barings. With the new partner on board, Interstellar will be further supported in its long-term growth strategy. Corporate finance consultant Nielen Schuman advised Interstellar on the refinancing.__

image

Interstellar

Interstellar was launched in January 2021 with the help of private equity investor Quadrum Capital. It is a collection of successful Managed Service Providers and specialists in the field of Cloud, Cybersecurity and Collaboration. Interstellar has more than 650 employees and a combined turnover of EUR 150 million. Since its launch eighteen months ago, Interstellar has made nine acquisitions and has become one of the fastest-growing IT providers in the Netherlands, with an average annual growth in turnover of 100%.

Several acquisition projects are currently underway, some of which are expected to be announced in the fourth quarter. “Interstellar has developed strongly in the past year and a half, driven by strong organic growth and targeted acquisitions. Also for the coming period we have a very ambitious plan to further expand the portfolio and the area of activity. I am therefore very pleased that we are partnering with Barings to provide the financing for this,” says Interstellar CEO Maarten van Montfoort. “We are proud that a world-class player supports our growth strategy and expresses confidence in our mission to become the most relevant IT service provider in the Netherlands.”

“It is great that we have been able to do such a significant transaction at this time with a leading financial partner like Barings,” said Investment Director Gert van Drie of Quadrum Capital. “We at Quadrum Capital are also committed to Interstellar’s growth ambitions and look forward to the developments in this next phase with great confidence.”

“Interstellar is a wonderful organisation with which we have gone through a very professional process. There was a lot of enthusiasm from the market for this refinancing. We believe that the financing provided by Barings is the best fit for Interstellar’s growth ambitions,” says partner debt advisory Rafael Gomez Nunez of Nielen Schuman.

Categories: News

Tags: