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General Atlantic Leads $145 Million Financing Round in Staffbase

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Partnership to help accelerate Staffbase’s global growth and further strengthen its leading position in digital solutions for internal communications
• Digital employee communications are becoming a key factor in business success, particularly in the wake of the COVID-19 pandemic
• Existing investors Insight Partners and e.ventures will also contribute to this financing round

March 29, 2021

Staffbase, a leading provider of digital solutions for internal communications, and General Atlantic, a global growth equity firm, today announced a strategic partnership. General Atlantic is leading a $145 million (€122 million) financing round in the Chemnitz, Germany-based start-up to help the company grow internationally and strengthen its global leadership in the employee engagement space. Existing investors Insight Partners and e.ventures will also contribute to this round of financing, KIZOO and Capnamic Ventures remain invested. As part of the partnership, Achim Berg, Operating Partner at General Atlantic and President of Bitkom, Germany’s digital association, will join the advisory board of Staffbase.

Established in Chemnitz in 2014, Staffbase has become a high-growth, multi-award-winning provider of an internal communications suite, including an employee app, an internal email newsletter tool, and a state-of-the-art intranet platform – all of which are designed to enhance employee communications. Its products are used by over eight million people across more than 1,000 organizations. Staffbase’s customers include global enterprises and organizations such as Adidas, Audi, BHP, Deutsche Post DHL, Groupon, Hitachi, Ikea, Johns Hopkins University, McKesson, Paulaner, Suncor, Viessmann, and Volvo, among others.

The Staffbase platform enables companies to communicate quickly and effectively with all of their employees – whether through corporate-branded communications, the publication of news items in a fast and reliable manner, or effectively measuring communications activities. The company’s solutions allow for more effective onboarding and enhanced employee engagement, and help employees identify more closely with their employers. The COVID-19 pandemic and proliferation of hybrid working environments have underscored the importance of targeted and agile internal communications, with senior management at major companies increasingly viewing internal communications as an essential strategic tool for connecting with employees and guiding them through this period of digital transformation.

Dr. Martin Böhringer, Co-Founder and CEO of Staffbase, said, “Our vision is to unite all of a company’s employees through strong internal communications and a shared mission. To bring this about, we provide managers and communications specialists at enterprise companies with the leading digital platform for successful employee communications – a platform that we are expanding very rapidly. The partnership with General Atlantic will further help us achieve this and accelerate our growth, especially in North America. The strong local team and the expertise it provides are decisive for us.”

Dr. Christian Figge, Managing Director at General Atlantic, continued, “Staffbase is a global pioneer and has developed software that specifically addresses the employee experience, supporting enterprises in transforming internal communications and engagement. We have been following this exciting company for quite some time and are looking forward to partnering with Martin and the Staffbase team to build on the business’ position as a global market leader. Staffbase is a prime example of the quality of entrepreneurship and range of innovative companies with global ambitions emerging out of Germany.”

Staffbase has a global workforce of 450 employees throughout 11 locations, including its headquarters in Chemnitz and offices in London, New York, Vancouver, Amsterdam, and Berlin. In early March, the company merged with Bananatag, Canada’s leading provider of internal communications solutions. The combined company is one of the world’s largest and fastest-growing providers of cutting-edge internal communications software. As a result of the merger, the Staffbase suite with an employee app and intranet was expanded to include a native solution for email communications and closer integration with collaboration tools like Slack and Microsoft 365, including Microsoft Teams and SharePoint.

About Staffbase

Staffbase is one of the fastest growing, most experienced internal communications platform providers for enterprise companies. The mobile compatibility of the company’s platform allows employers to securely reach their employees everywhere with reduced complexity — whether in the office, at home, on the factory floor, or on the road. Staffbase solutions give employees greater access to the corporate information that’s relevant to them and tools for the modern digital workplace, including existing intranets. With headquarters in Chemnitz, Germany, and offices in Amsterdam, Cologne, Dresden, Berlin, London, Munich, and New York City, Staffbase provides branded solutions for more than 1,000 leading companies worldwide who are transforming their employee experience including Adidas, Audi, Vestas, Spark Power, Paulaner, UC Health and US LBM. Please visit staffbase.com  for more information.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Leigh Nofi
Staffbase 516-446-2446 leigh@staffbase.com

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Audax Private Equity Completes Sale of Altasciences to Novo Holdings

Audax Group

Audax Private Equity (“Audax”) today announced that it has successfully completed the previously announced sale of Altasciences to Novo Holdings.

Altasciences is a leading, fully-integrated, early drug development services platform, providing the pharmaceutical and biotech industries with a trusted partner for drug development, from preclinical safety testing through clinical proof-of-concept studies. Headquartered in Laval, Quebec, Altasciences operates six facilities in the U.S. and Canada and employs over 1,300 people.

Audax invested in Altasciences in 2017, partnering with management to pursue strategic acquisitions and to accelerate organic growth. Altasciences completed three acquisitions under Audax’ ownership, growing its footprint and expanding its service offerings into preclinical safety testing and pharmaceutical contract development and manufacturing.

Joe Rogers, Managing Director at Audax, said, “We are pleased to complete the sale of Altasciences to Novo Holdings, and wish the team well as they continue their important work. We are proud of the tremendous growth Altasciences achieved under our ownership and are confident that the business is well-positioned to continue capitalizing on the growing market for drug development services.”

Chris Perkin, Chief Executive Officer of Altasciences, added: “On behalf of the Altasciences team, I would like to thank Audax for their support during the last four years. Audax was instrumental in helping us identify and execute strategic acquisitions while furthering our organic growth initiatives. We look forward to our next chapter as part of Novo Holdings and wish Audax continued success in their future endeavors.”

Abhijeet Lele, Senior Partner, Head of Principal Investments in the U.S. at Novo Holdings, added: “The Altasciences team has done an impressive job of building an innovative company that plays an essential role in bringing innovative drugs to patients and that we believe is well-positioned to capture share in the fast-growing market for drug development services. We are excited about this investment and look forward to leveraging our network to continue growing Altasciences in collaboration with the management team.”

Harris Williams & Co. served as lead financial advisor with Rothschild & Co. and Edgemont Partners serving as co-advisors to Altasciences. Kirkland & Ellis LLP and Blake, Cassels & Graydon, LLP served as legal advisors to Altasciences. Goodwin Procter LLP served as legal advisor to Novo Holdings.

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Carlyle Aviation Partners to Acquire Fly Leasing for $17.05 Per Share

Carlyle

Largest Aircraft Fleet Acquisition for Carlyle Aviation Partners

NEW YORK – Global investment firm The Carlyle Group (NASDAQ: CG) announced today that an affiliate of Carlyle Aviation Partners, the commercial aviation investment and servicing arm of Carlyle’s $56 billion Global Credit platform, has signed an agreement to acquire Fly Leasing Limited (NYSE: FLY), a global leader in aircraft leasing. Under the terms of the agreement, FLY shareholders will receive $17.05 per share in cash, representing a total valuation of approximately $520 million. The total enterprise value of the transaction is approximately $2.36 billion. FLY’s portfolio of 84 aircraft and seven engines is on lease to 37 airlines in 22 countries.

William Hoffman, Chairman of Carlyle Aviation Partners, said, “This transaction, our largest fleet acquisition to date, will add 84 predominantly mid-life aircraft on lease to a diversified group of airlines to our managed portfolio. These aircraft fit strategically within our business and will give us an opportunity to create meaningful value for our investors.”

The FLY Board of Directors has approved the agreement, acting upon the recommendation of a special committee appointed by the Board of Directors consisting solely of independent and disinterested directors, and recommended that FLY shareholders vote in favor of the transaction.

The transaction is expected to close in the third quarter of 2021 and is conditioned upon the satisfaction of certain customary closing conditions, including but not limited to, customary shareholder and regulatory approvals.

Carlyle Aviation Partners will use funds from its fifth aviation fund, SASOF V, for this acquisition.

Carlyle Aviation Partners is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the aviation sector. It has total assets under management of $6.1 billion, with a team of more than 90 employees and offices in the US, Ireland and Singapore. Carlyle Aviation Partners has 246 aircraft owned, managed or committed to purchase with 93 airline lessees in 53 countries.

RBC Capital Markets is acting as financial advisor and providing financing to Carlyle Aviation Partners on the transaction.  Milbank LLP and Wakefield Quin Limited are acting as legal counsel to Carlyle Aviation Partners.

Goldman Sachs & Co. LLC is acting as financial advisor to FLY and Gibson, Dunn & Crutcher LLP, Clifford Chance US LLP, Conyers Dill & Pearman, and McCann FitzGerald are acting as FLY’s legal counsel.

Kirkland & Ellis LLP is acting as legal counsel to BBAM LP, FLY’s manager and servicer.

* * * * *

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $246 billion of assets under management as of December 31, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs 1,825 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

About FLY
FLY is a global aircraft leasing company with a fleet of modern and fuel-efficient commercial jet aircraft. FLY leases its aircraft under multi-year operating lease contracts to a diverse group of airlines throughout the world. FLY is managed and serviced by BBAM LP, a worldwide leader in aircraft lease management and financing. For more information visit www.flyleasing.com.

Additional Information and Where to Find It
This communication is being made in respect of the proposed transaction involving Carlyle Aviation Partners and Fly Leasing Limited (“FLY”).  In connection with the proposed transaction, FLY intends to file relevant materials with the Securities and Exchange Commission (the “SEC”), including a proxy statement.  Promptly after filing its proxy statement with the SEC, FLY will mail or otherwise provide the proxy statement and a proxy card to each shareholder of FLY entitled to vote at the special meeting relating to the proposed transaction.  This communication is not a substitute for the proxy statement or any other document that FLY may file with the SEC or send to its shareholders in connection with the proposed transaction.  BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS OF FLY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE PROPOSED TRANSACTION THAT FLY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION.  The proxy statement and other relevant materials in connection with the proposed transaction (when they become available), and any other documents filed by FLY with the SEC, may be obtained free of charge at the SEC’s website at www.sec.gov or at FLY’s website at www.flyleasing.com.

Participants in the Solicitation
This communication does not constitute a solicitation of proxy, an offer to purchase, or a solicitation of an offer to sell any securities.  FLY and its directors and executive officers are deemed to be participants in the solicitation of proxies from shareholders in connection with the proposed transaction.  Information regarding the names of such persons and their respective interests in the proposed transaction, by securities holdings or otherwise, will be set forth in the proxy statement when it is filed with the SEC. Additional information regarding these individuals is set forth in FLY’s Annual Report on Form 20-F for the fiscal year ended December 31, 2020, filed with the SEC on March 1, 2021.  These documents are (or, when filed, will be) available free of charge at the SEC’s website at www.sec.gov or at FLY’s website at www.flyleasing.com.

Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements that involve substantial risks and uncertainties. You can identify these statements by the use of forward-looking terminology such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may,” “plans,” “continue,” “believes,” “seeks,” “estimates,” “would,” “could,” “targets,” “projects,” “outlook,” “potential,” “predicts” and variations of these words and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. You should read statements that contain these words carefully because they discuss our plans, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. We believe that it is important to communicate our future expectations to our investors. There may be events in the future, however, that we are not able to predict accurately or control. You should not place undue reliance on these forward-looking statements, which speak only as of the date on which we make it. Factors or events that could cause our actual results to differ, possibly materially from our expectations, include, but are not limited to, the satisfaction of the conditions precedent to the consummation of the proposed transaction, including, the receipt of shareholder and regulatory approvals; unanticipated difficulties or expenditures relating to the proposed transaction; legal proceedings, judgments or settlements, including those that may be instituted against FLY, FLY’s board of directors and executive officers and others following the announcement of the proposed transaction; disruptions of current plans and operations caused by the announcement and pendency of the proposed transaction; potential difficulties in employee retention due to the announcement and pendency of the proposed transaction; the response of customers, suppliers, business partners and regulators to the announcement of the proposed transaction and the risks, uncertainties and other factors we identify in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in filings we and FLY make with the Securities and Exchange Commission, and it is not possible for us to predict or identify all of them. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Unless otherwise stated, all figures and statistics contained herein are as of December 31, 2020.  This release does not constitute an offer for any Carlyle fund.

Media contact
Christa Zipf
Christa.zipf@carlyle.com
347-621-8967

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Nordic Capital sells MFEX, a leading global independent fund distributor, to Euroclear

Nordic Capital

Nordic Capital sells MFEX, a leading global independent fund distributor, to Euroclear Image

  • MFEX has quadrupled assets under administration since Nordic Capital’s acquisition in January 2018
  • The Company is now one of the top Pan-European platforms for fund distribution
  • With this transaction, MFEX and Euroclear’s complementary businesses are expected to create significant value for clients

Nordic Capital has signed an agreement to sell MFEX, a leading global independent fund distributor, to Euroclear. During Nordic Capital’s ownership, MFEX has successfully repositioned itself from a Nordic player to a pan-European leader with an emerging global presence. The new owner Euroclear is a leading provider of financial market infrastructure services and is ideally placed to support the next phase of MFEX’s growth and development.

The two companies are complementary and will build on each other’s strengths. The combination of MFEX’s innovative distribution platform with Euroclear’s FundSettle post-trade operations expertise will create a unique and compelling offering for fund distributors and fund management companies globally.

Nordic Capital partnered with MFEX’s founders and management team in early 2018 to accelerate growth across Europe and Asia, drive consolidation in the sector and further expand MFEX’s product and service offering. Nordic Capital has made substantial investment in the MFEX platform through acquisitive and organic initiatives. Under Nordic Capital’s ownership, MFEX has grown assets under administration fourfold and the company has been propelled into becoming the second largest European player and one of the key platforms for fund distribution.

“MFEX is a true leader in its field. Since Nordic Capital became a majority owner in 2018, in partnership with the founders, MFEX has experienced continued strong organic growth and executed a series of strategic, value accretive acquisitions. MFEX has developed from being a Nordic leader in its industry to a pan-European leader with a global presence. Nordic Capital is pleased to have been able to support this journey. Now it is the ideal time for Nordic Capital to hand over to Euroclear as the next step for MFEX,” said David Samuelson, board member of MFEX and Principal, Nordic Capital Advisors.

Lieve Mostrey, Chief Executive Officer of Euroclear, commented: “We are delighted to sign this agreement to acquire MFEX Group. We expect MFEX’s broad fund distribution network, along with its talented people, to be very complementary to Euroclear as we continue to enhance our exceptional service, extend our customer proposition and grow our business.”

“Together with Nordic Capital, we have invested in our platform and continued to transform the fund distribution proposition. Nordic Capital’s significant experience in growing Financial Services companies has supported our organic growth and also helped form new partnerships. Euroclear is a great strategic fit for the next stages of our growth journey. By adding our respective strengths, we will be able to build an even better and stronger solution for fund distribution,” says Jean Devambez, CEO, MFEX.

MFEX co-founders and board members, Olivier Huby and Oliver Lagerström added: “It has been a privilege to work closely with Nordic Capital and to grow MFEX together. We are delighted for MFEX to partner with Euroclear, which we believe will be a perfect combination for the future.”

The transaction is subject to customary regulatory approvals. The parties have agreed not to disclose financial details.

Cederquist acted as legal advisor to Nordic Capital

Financial Services is one of Nordic Capital’s focus sectors in which it has extensive experience, a strong and active sector network, and a dedicated team within Nordic Capital Advisors across Northern Europe. Nordic Capital is one of the leading investors in the Financial Services sector in the Nordic region and has invested EUR 2.3 billion in 10 financial services companies since 2004. Nordic Capital has achieved repeatable success in this sector and has been instrumental in the development of thriving companies such as Nordnet (recently listed on Nasdaq Stockholm), Nordax and Intrum.

Media Contacts:

Nordic Capital

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

MFEX
Raphael Simon
+33 1 80 87 59 21
raphael.simon@mfex.com

Euroclear
Craig MacDonald
Head of Media Relations
Tel: +44 207 849 0315
e-mail: craig.macdonald@euroclear.com

 

About MFEX

As independent experts in global fund distribution, MFEX offers a complete solution for fund companies and distributors. The MFEX Group was established in Sweden in 1999 and is headquartered in Stockholm with offices in Paris, Luxembourg, London, Geneva, Kuala Lumpur, Milan, Madrid, Umea, Hong Kong, Singapore and Zürich. The main supervisory authority is the Swedish Financial Supervisory Authority (Finansinspektionen).
Today, MFEX is a pan-European leader with a global presence active in 52 countries on 5 continents with more than 300 employees. The company is divided into four main business areas: Trading and custody, Distribution agreement and rebate collection, Data and fund information and Due Diligence / AML & KYC (Global Fund Watch). More information is available at www.mfex.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 17 billion in close to 120 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com

Footnote: “Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which is referred to as “Nordic Capital Advisors”.

 

About Euroclear

Euroclear group is the financial industry’s trusted provider of post trade services. Euroclear provides settlement and custody of domestic and cross- border securities for bonds, equities and derivatives to investment funds. Euroclear is a proven, resilient capital market infrastructure committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise.

The Euroclear group includes Euroclear Bank – which is rated AA+ by Fitch Ratings and AA by Standard & Poor’s – as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear UK & Ireland. The Euroclear group settled the equivalent of EUR 897 trillion in securities transactions in 2020, representing 276 million domestic and cross-border transactions, and held EUR 32.8 trillion in assets for clients by end 2020.

For more information about Euroclear, please visit www.euroclear.com.

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EQT Real Estate and Arco Lavori launch EUR 300m joint venture to deliver grade-A senior care home facilities in Northern Italy

eqt
  • EQT Real Estate and Italian construction company Arco Lavori launch joint venture to create a EUR 300m portfolio of state-of-the-art, affordable senior care homes with a focus on Northern Italy
  • The joint venture constitutes EQT Real Estate’s first investment in Italy and combines its thematic focus on “beds and sheds” in primary European markets with a social impact strategy underpinned by EQT’s industry-leading sustainability credentials
  • The joint venture launches having secured an initial five sites to be developed in Northern Italy and is actively working on a strong pipeline of future opportunities

EQT is pleased to announce that the EQT Real Estate II fund (“EQT Real Estate”) has today launched a joint venture (the “JV”) with AR.CO. Lavori S.C.C. (“Arco Lavori” or “Arco”), a leading Italian construction company with an established track record of delivering high-quality real estate assets in Italy including healthcare facilities. The JV will focus on developing a portfolio of purpose-built, affordable grade-A senior care homes in Northern Italy that will seek to provide the highest level of healthcare and quality living in the country. The JV launches having secured five initial sites with the ability to provide an aggregate of 1,010 beds. The first two senior care homes are expected to be delivered by late 2022 and in the beginning of 2023.

It is intended that the JV will have an initial capacity to establish an investment portfolio with a total value in excess of EUR 300 million. The JV’s five initial projects are located in the Lombardy and Emilia Romagna regions, which are particularly in need of senior care facilities due to the supply-demand imbalance and low provision rate of care home beds for senior citizens driven by Italy’s growing elderly population. Over the next ten years, the population group that is over 75 years of age is expected to increase from 11.5 percent to 14.0 percent1. Completed facilities will be let to, and managed by, well-known, high quality operators who will aim to bring a high standard of sustainability and safety to the healthcare home market.

Consistent with other EQT Real Estate transactions, the JV’s assets will be developed with strong sustainability credentials. Where possible, care homes will utilize photovoltaic panels on the roof and benefit from measures aimed at incentivizing the promotion of recycling of waste and rainwater management. The JV’s care homes will also seek to achieve green certifications such as LEED and WELL, as well as following specific ESG principles. In addition, the JV will promote sustainable living practices within the care homes themselves. The operators will implement policies and standard activities related to the procedures against Covid-19 and other possible health risks.

Alessio Lucentini, Managing Director, Investment Advisor and Head of Italy, EQT Real Estate, said, “EQT Real Estate is thrilled to be entering the Italian healthcare market and investing in a sector which is lacking grade-A facilities and is expected to benefit from robust demographic trends in the country. In addition to the initial five sites, we are currently evaluating a growing pipeline of projects, mainly in Northern Italy, to build a large scale, resilient and downside-protected portfolio. EQT Real Estate looks forward to partnering with the Arco team to realize our shared vision over the coming years.”

Rob Rackind, Partner, Investment Advisor and Head of EQT Real Estate, said, “This joint venture with Arco marks an exciting entrance into Italy for EQT Real Estate as it represents the first transaction in this market since the business line was established in 2015. This is another prime example of using EQT’s “local-with-locals” approach to source attractive opportunities in order to invest with thematic trends and we are proud to back a strategy that should deliver significant social impact by providing defensive, socially responsible assets to the regions of Italy most in need.”Emiliano Battistini, CEO of Arco Lavori, said, “We look forward to partnering with EQT Real Estate to deliver a high-quality portfolio of purpose-built senior care homes in Italy. There is a growing undersupply of affordable grade-A care home facilities in Italy and this trend is expected to continue during the coming years. The combination of EQT Real Estate’s pan-European expertise and our local reputation and know-how is expected to create a much-needed product for an important and growing part of Italy’s population.”

1Source: Eurostat

Contacts
UK media enquiries: Greenbrook, eqt@greenbrookpr.com, +44 20 7952 2000
Italian media enquiries: Brunswick Milan, Elisa Lavagna, elavagna@brunswickgroup.com,
+39 346 9447907; Andrea Mormandi, amormandi@brunswickgroup.com, +39 345 889 0885
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

About EQT Real Estate
EQT Real Estate, part of EQT Partners and Investment Advisor to EQT managed real estate funds, seeks direct and indirect controlling interests in value-add real estate assets, portfolios, operating companies and platforms across primary cities in the UK and Europe that offer significant potential for value creation through repositioning, development / redevelopment, refurbishment and active asset management. The EQT Real Estate Advisory Team comprises 24 experienced Investment Advisory Professionals working out of EQT’s offices in London, Madrid, Milan, Paris and Stockholm. The Investment Advisory Team, which has access to the full EQT network including 11 European offices and more than 500 EQT Advisors, has experience analyzing and investing across the pan-European real estate market and has, collectively, advised on over 130 real estate projects in multiple asset classes across Europe.

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

About Arco Lavori
Founded in 1999, Arco Lavori is a cooperative construction company focused on general construction, facility management, energy and healthcare sectors. Arco is headquartered in Ravenna, in the Emilia Romagna region, and has more than 400 partner companies and an order portfolio of approximately EUR 550 million as of March 2021. With a well-established track record in the healthcare sector across Italy, Arco’s principal focus is aimed at improving the economic and social conditions of partner companies while delivering innovative products. Arco has created an unrivalled property platform and an integrated solution to its partners by sourcing sites, bringing together construction resources, and managing all stages throughout the planning and development process. In 2020, Arco Lavori had a turnover of approximately EUR 200 million.

More info: www.arcolavori.com

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CVC Capital Partners’ Fund VII reaches agreement with National Bank of Greece regarding Ethniki Insurance

CVC Capital Partners

CVC Capital Partners’ Fund VII announces that it has entered into a definitive agreement to acquire 90.01% of Ethniki Insurance (“Ethniki”) from National Bank of Greece (“NBG”).

The equivalent nominal consideration corresponding to 100% of Ethniki would be €505m, including an “earn-out” payment of up to €120m, which will be subject to meeting agreed upon performance targets for the bancassurance channel of NBG by 2026. The transaction includes a 15-year Bancassurance partnership.

The closing is subject to standard conditions precedent, the approval by the antitrust and regulatory authorities and the approval of an Extraordinary General Meeting of NBG shareholders.

CVC Capital Partners (“CVC”) is a leading private equity and investment advisory firm with a network of 23 offices throughout Europe, Asia and the US. Since its founding in 1981, CVC has secured commitments in excess of US$160 billion from some of the world’s leading institutional investors across its private equity and credit strategies. CVC currently manages approximately US$118 billion of assets. Funds managed or advised by CVC (“CVC Funds”) are invested in over 90 companies worldwide, employing more than 450,000 people.

CVC has a dedicated Financial Services team and CVC Funds have extensive experience of investing in insurance through investments in Brit (UK), Fidelis (US), Domestic & General (UK), Pension Insurance Corporation (UK), April Group (France), Riverstone (UK) and others. CVC Funds have been approved by more than 15 financial regulators including BaFin (Germany), PRA (UK), FCA (UK), BMA (Bermuda), and FINMA (Switzerland).

CVC Funds are also one of the most active investors in Greece with a dedicated team in Athens which has invested more than €750m of equity since 2017, including in Hellenic Healthcare Group, e-Travel, Skroutz, D-Marin and Vivartia.

Deutsche Bank AG acted as sole financial adviser to CVC, Latham Watkins LLP and Bernitsas Law Firm as international and local external legal counsels and BCG as commercial advisor.

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Nordstjernan to invest in fintech company Roaring

Nordstjernan

Nordstjernan is to invest in the rapidly expanding fintech company Roaring and, with a shareholding of just over 20 percent, will become a partner to the founders and existing shareholders on the company’s continued growth journey.

Roaring is a Swedish fintech company formed in 2016, with its office in Täby in Stockholm. The company provides digital services to companies in all sectors with a need to automate customer data processes and know-your-customer (KYC) checks. Roaring offers highly sought-after services in such areas as automated anti-money laundering (AML) monitoring.

In a short time, Roaring has built a high-quality technical solution to ensure a smooth customer onboarding process, which reduces time-consuming manual work for a growing group of reputable customers.

This investment is being made within the Nordstjernan Growth & New technology sector.

“Roaring is the first investment in Nordstjernan’s new growth initiative. Roaring has significant potential in an exciting sector, and we believe Nordstjernan is a good fit as a partner in the phase in which the company currently finds itself,” says Nordstjernan’s CEO Peter Hofvenstam.

Peter Hofvenstam
President and CEO
Nordstjernan AB

Questions will be answered by:

Peter Hofvenstam, CEO, Nordstjernan
E-mail: peter.hofvenstam@nordstjernan.se
Stefan Stern, Head of Communications, Nordstjernan
Mobile: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

Nordstjernan is a family-controlled investment company whose business concept is to be an active owner that creates long-term value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

This release was sent by Cision

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EQT joins FCLTGlobal and the movement of ending short-termism in the global capital markets

eqt

EQT AB is proud to announce its membership with FCLTGlobal, a non-profit organization with the mission of rebalancing capital markets to support a long-term, sustainable economy, and stimulating long-term behavior across the investment value chain. Members include more than 60 leading asset owners, asset managers and corporations from around the world. It is a rapidly growing initiative, as moving financial markets to the longer-term perspective is one of the most important systematic changes needed to provide companies with space to make the right investment decisions. Becoming a member of FCTLGlobal aligns perfectly with EQT’s purpose of future-proofing companies and making a positive impact with everything we do. It is also well in line with EQT’s thematic approach of investing with the future in mind, as well as the evaluation of a long-hold strategy as a natural extension of the current platform.

FCLTGlobal conducts research and develops tools to drive long-term value, with the guiding principle that working toward short-term financial targets comes at the expense of long-term value creation. Despite the fact that data shows that long-term-oriented investors deliver superior performance and long-term-oriented companies outperform in terms of revenue, earnings, and job creation, the focus in global investing remains largely skewed towards short-term performance.

Christian Sinding, CEO and Managing Partner at EQT AB, said, “The private markets industry has a huge opportunity to change this mindset, to think longer-term and to strive to simultaneously enhance financial returns and improve societies. And our industry has the power to make a real difference with a governance model and active ownership approach that get things done. We are deeply impressed by FCTLGlobal’s mission and research-based approach and are humbled by the opportunity to team up with the organization and all the other members in order to take an even more active role in the movement of tackling short-termism and promoting sustainable growth.”

Sarah Keohane Williamson, Chief Executive Officer, FCLTGlobal, said, “To FCLTGlobal, it is important that our members lead by example, and EQT is showing a strong commitment to integrate sustainability and long-term perspectives into their entire value creation process. We look forward to welcoming EQT and to collaborating on the various aspects of our upcoming research agenda.”

Contact:
Nina Nornholm, Head of Communications, +46 708 550 356
EQT Press office: press@eqtpartners.com

About EQT 
EQT is a purpose-driven global investment organization with close to three decades of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 84 billion since inception and had as of December 31, 2020 more than EUR 52 billion in assets under management across 17 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 17 countries across Europe, Asia-Pacific and North America with more than 700 employees.

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

About FCLTGlobal 
FCLTGlobal’s mission is to rebalance capital markets to support a long-term, sustainable economy. We are a non-profit organization supported by leading companies and investors worldwide that develops research and practical tools to drive long-term value creation for companies, savers, and communities. Please visit www.fcltglobal.org for more information.

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Questel acquires IP services leader Morningside

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Questel, one of the world’s largest end-to-end intellectual property solutions providers, has acquired Morningside, a leading IP and language services company.

Founded in 2000 and headquartered in New York, Morningside specializes in patent translation and foreign filing solutions as well as legal, life sciences, and corporate compliance language services. With a global presence of 250 employees, Morningside leverages its industry-leading IP Platform to help clients seamlessly reach new markets while doing more with their budget. Morningside has over 4,000 clients in 55 countries including many Global 500 companies, law firms, and regulatory bodies.

The acquisition is part of Questel’s strategy to act as a one-stop-shop for all of its clients’ IP needs. Since Morningside is one of the largest patent translation companies in the world, the acquisition consolidates Questel’s position as a leading IP translation provider. Morningside also has a major global law firm presence which will allow Questel to significantly expand and diversify its customer base.

“Morningside is an excellent fit for Questel both culturally and strategically,” said Charles Besson, Questel’s CEO. “Translation plays a critical role in providing end-to-end integrated IP solutions to our clients.”

“We are excited to become part of the Questel family,” said Tom Klein, Co-CEO of Morningside. “Our clients will benefit from the additional services, expertise and technology that Questel brings to the table.”

“The synergies here are clear,” added Co-CEO Roland Lessard. “Morningside is one of the largest patent translation providers globally and Questel is the #1 patent filer in the world. Clients of both companies will gain from this acquisition.”

During the past years, through targeted acquisitions, Questel has built the most balanced portfolio of software and tech-enabled services of the IP industry.

About Questel

Questel’s mission is to facilitate the development of innovation in an efficient, secure, and sustainable way. Questel is a true end-to-end intellectual property solutions provider to more than 20,000 clients and one million users across 30 countries. We offer a comprehensive software suite for searching, analyzing, and managing inventions and IP assets. Questel also provides services throughout the IP lifecycle, including prior art searches, patent drafting, international filing, translation, and renewals. These solutions, when combined with our IP cost management platform, deliver clients an average savings of 30-60% across the entire prosecution budget. www.questel.com

About Morningside

Morningside equips the world’s leading organizations with a full suite of end-to-end intellectual property and language solutions. With over 4,000 clients in 55 countries, Morningside is globally recognized for its subject matter expertise and technology innovation in regulated markets such as IP, legal services, life sciences, and corporate compliance. Our IP management solutions and translation services ensure your ideas seamlessly reach new markets and audiences while allowing you to do more with your budget. Global 500 companies, international law firms, and regulatory bodies all rely on Morningside as a trusted partner to make intelligent choices for their most valuable assets. www.morningtrans.com

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Insight Partners has signed an agreement with IK Investment Partners, Five Arrows Principal Investments and Naxicap Partners to invest in iad

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IK Investment Partners (“IK”), Five Arrows Principal Investments (“Five Arrows”) and Naxicap Partners are delighted to announce that they have signed an agreement for Insight Partners (“Insight”) to invest in iad International (“iad” or “The Company”).

iad is Europe’s leading digital real estate broker and is redefining the real estate market in Europe with a disruptive agent-enablement model. The iad network of over 14,000 independent real estate agents, across six countries, is underpinned by a proprietary end-to-end technology platform which serves the entire transaction lifecycle from sourcing of mandates through to execution, signing and closing. Founded in 2008 and headquartered in Lieusaint, France, iad employs over 300 people and generated more than €300 million of revenue in 2020.

Since IK, Five Arrows and Naxicap Partners’ investment in 2016, iad has grown significantly to become the leading real estate network in France, and has successfully expanded into Portugal, Italy, Spain and Germany. In 2020, iad entered the Mexican market via a strategic acquisition. Annual revenue has quadrupled in the past four years.

Clement Delpirou, CEO of the iad Group, commented:“We are hugely grateful for the support from IK, Five Arrows and Naxicap over the last four and a half years. During this time, we have consolidated our position in France and embarked on a successful journey of international expansion, while developing and optimising our operations and technology. Looking forward, we are excited to add Insight Partners as an investor in iad.”

Dan Soudry and Rémi Buttiaux, Managing Partners at IK, said:“iad is exactly the type of business we take pride in partnering with. From the outset, we identified its potential to become a market leader in France and the opportunity to expand into new territories. We continue to be impressed by the Company’s entrepreneurial spirit and are excited for its long-term prospects, together with the existing and new shareholders.”

Emmanuel Roth, Co-Managing Partner, and Nicolas Robin, Managing Director, at Five Arrows Principal Investments, added: “iad is a fantastic success story. It is disrupting the real estate sector and enabling thousands of entrepreneurial agents to launch their own businesses. We are grateful to Roland Tripard, Clement Delpirou and the rest of the impressive management team who have developed an effective and scalable technology platform. We believe the Company has a strong future and look forward to continuing our journey with them and the other shareholders.”

Laurent Sallé, Director at Naxicap Partners further remarked: “iad is a great example of the type of business we have the honour of partnering with. From 2012, we have watched the Company grow from strength to strength and are pleased to have played a role in its development. We are excited to remain as an investor and have no doubt that iad will remain a significant driver for change in the real estate industry.”

Deven Parekh, Managing Director at Insight Partners, said: “Insight has invested in new, disruptive businesses in the broader real estate ecosystem and we are excited to welcome iad to that group. This experience combined with our ScaleUp operational focus will help iad continue to grow and expand its footprint both within and outside France.”

Financial terms of the transaction are not disclosed and are subject to legal and regulatory approvals.

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
Email: jmcfarlane@maitland.co.uk

Five Arrows Principal Investments
Emma Rees
Phone: +44 7703 715 763
Email: emma.rees@rothschildandco.com

Naxicap Partners
Valérie Sammut
Phone : +33 4 72 10 87 99
Email: valerie.sammut@naxicap.fr

Insight Partners
Nikki Parker
Phone: +1 571 353 4273
Email: nparker@insightpartners.com

About iad

Created in 2008, iad is a real estate network exclusively made up of independent commercial agents registered in the special register of commercial agents and whose activity is the marketing of real estate properties in a network. The DNA of iad is based on 3 pillars: real estate, the internet and network marketing. Based in Lieusaint in Seine et Marne, iad is today the leading French network of real estate agents in terms of number of advisers (Source: Meilleursreseaux.com). For more information: www.iadfrance.fr

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 145 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit: www.ikinvest.com

About Five Arrows Principal Investments

Five Arrows Principal Investments (FAPI) is the European private equity arm of Rothschild & Co’s Merchant Banking business. Merchant Banking manages over €15.7bn globally which includes approximately €3.8 billion dedicated to corporate private equity, as well as a series of funds dedicated to senior and junior credits, primary and secondary fund investing and co-investments, with offices in Paris, London, New York, Los Angeles and Luxembourg.

FAPI is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology-enabled business services and healthcare. For more information: www.rothschildandco.com/en/merchant-banking/corporate-private-equity

About Naxicap Partners

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €3.7 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt. For more information: www.naxicap.fr/en

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

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