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AnaCap and RivingtonHark partner to acquire St Johns Shopping Centre in Liverpool

Anacap

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market investor and RivingtonHark, a UK retail asset manager focused on ensuring the future sustainability of towns and cities,  announce a joint venture to acquire St Johns Shopping Centre (“St John’s”),  a 540,000 sq. ft prime property in central Liverpool.

St John’s is located in the heart of Liverpool, between Liverpool’s two main train stations and the main bus station where significant public sector infrastructure works are being completed. The centre is currently 97% occupied with over 100 tenants, and the scheme is also the home of the St John’s Beacon, one of the UK’s most well-known and iconic buildings.

St John’s has benefited from significant renovation and refurbishment investment over the past decade, and AnaCap and RivingtonHark are looking to continue investing to meet the ongoing demands of a leading city-centre shopping centre.

The investment in St John’s sits within AnaCap’s opportunistic real estate strategy where it is capitalising on its extensive network to identify attractive, well located properties across Europe. It also epitomises AnaCap’s approach of leveraging dedicated, in-house specialist investment and asset management expertise to work alongside best-in-class operating partners targeted for each investment.

Sebastien Wigdo, Managing Director at AnaCap, commented:
“This acquisition represents an exciting opportunity for AnaCap to invest in a prime and stabilised retail asset in the UK, demonstrating our ability to identify value in a sector which may have been previously overlooked. We were particularly attracted to the asset given its high-quality location and strong tenant mix of both local and national retailers, a large number of whom have shown a long-term commitment to the location during Covid.”

Mark Williams, Executive Director at RivingtonHark, added:
“We are glad to partner with AnaCap and are looking forward to engage with our tenants, the Liverpool City Council and the wider community to continue to invest in the asset and create long term value for all stakeholders.”

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Hellman & Friedman partners with EQT Private Equity for an improved voluntary tender offer by Zorro Bidco for zooplus AG at increased and final offer price of EUR 480 per share

eqt

The partnership between Hellman & Friedman and EQT Private Equity now provides zooplus shareholders with higher transaction certainty on improved economic terms, and will allow zooplus to benefit from the “best of both” investors in support of its growth strategy.

25 October 2021 – London & Munich –Today, Hellman & Friedman LLC (“Hellman & Friedman” or “H&F”) and the EQT IX fund (“EQT Private Equity”) have announced a partnership to finance Zorro Bidco S.à r.l.’s (“Zorro Bidco”) voluntary public takeover offer (the “Zorro Offer”) for all outstanding shares of zooplus AG (“zooplus” or the “Company”), at an increased and final cash consideration of EUR 480 per zooplus share (the “Increased Offer”).

On 13 August 2021, Zorro Bidco, a holding company currently controlled by funds advised by H&F, announced its intention to launch a voluntary public takeover offer for zooplus, and most recently on 7 October 2021 it further increased the cash consideration offered to the zooplus shareholders from EUR 460 to EUR 470 per zooplus share. In doing so, Zorro Bidco matched the competing takeover offer published on 6 October 2021 (the “Pet Offer”) by Pet Bidco GmbH (the “Pet Bidco”), an investment vehicle indirectly held by EQT Private Equity.

With support of its partner EQT Private Equity, H&F has decided today to again increase the cash consideration under the Zorro Offer and to present the Increased Offer as a final proposal to zooplus shareholders.

The Increased Offer remains subject to reaching a minimum acceptance threshold of 50 percent plus one zooplus share and other customary conditions as set out in the offer document dated 14 September 2021. zooplus shareholders are reminded that Zorro Bidco has already obtained all regulatory clearances necessary for the Increased Offer to become wholly unconditional when the minimum acceptance threshold is reached.

EQT Private Equity plans, subject to required regulatory approvals and other conditions, to become a jointly controlling partner with equal governance rights in a parent of Zorro Bidco following settlement of the Increased Offer.

Zorro Bidco is focused on delivering the offer consideration to zooplus shareholders at the earliest opportunity and has therefore effected today an increase of the cash consideration under the Zorro Offer through the purchase of zooplus shares at a price of EUR 480 by an affiliate of Zorro Bidco. This will have no effect on the existing timeline of the Increased Offer, and in particular, does not affect the acceptance period deadline of 3 November 2021. On that basis, settlement of the Increased Offer is expected to take place by mid-November 2021.

The cash consideration under the Increased Offer of EUR 480 per share now constitutes a premium of 85 percent to the three-month volume weighted average share price of zooplus prior to the initial announcement of the Zorro Offer on 13 August 2021.

Pet Bidco does not intend to increase or otherwise amend the Pet Offer which is therefore expected to lapse in accordance with its terms.

The irrevocable tender commitments which Zorro Bidco has concluded with zooplus shareholders for approximately 17 percent of the share capital of zooplus remain binding on the relevant shareholders, who have already tendered the relevant shares to the Zorro Offer.

As already explained in the offer document for the Zorro Offer, Zorro Bidco intends to pursue a delisting of zooplus in case of a successful completion of the Zorro Offer.

Stefan Goetz, Partner of Hellman & Friedman, and Johannes Reichel, Partner and Head of EQT Private Equity’s Advisory Team in Germany, jointly said: “With this step we have found a solution to resolve the current deadlock in the tender process and enable the continued pursuit of the investment. The improved offer with a very attractive price provides the highest degree of transaction security to the benefit of all stakeholders of zooplus. H&F and EQT Private Equity are both excited to partner and to support the future development of the Company.”

Both the Management Board and the Supervisory Board of zooplus have welcomed the Increased Offer and intend to support it. The zooplus boards recognize that the Increased Offer provides zooplus shareholders with a clear resolution for a successful completion of the takeover process and thus enhanced transaction certainty. In addition, zooplus shareholders will receive a compelling value, with a premium of EUR 10 per zooplus share to the most recently recommended Zorro Bidco offer.

“With this offer by H&F in partnership with EQT, our shareholders now have the clarity and ability to take an informed tender decision and realize a remarkable 85% premium. Given the significant value creation for our shareholders, the complementary expertise of both partners as well as their financial and strategic commitments to the company and its stakeholders, we as the Management Board – together with the Supervisory Board – confirm our recommendation to our shareholders to accept Zorro Bidco’s offer”, said Dr. Cornelius Patt, CEO of zooplus.

Both H&F and EQT have been partners of choice for many European entrepreneurs and their companies. Access to the extensive experiences of both partners across sectors including internet, consumer, retail and pet care will be very beneficial for the future development of zooplus and will enable a long-term value creation.

-Ends-

For further information, please contact:

For H&F

Regina Frauen
Phone: +49 160 8855105
Email: regina.frauen@fgh.com

Christian Falkowski
Phone: +49 171 8679950
Email: christian.falkowski@fgh.com

For EQT

Isabel Henninger
Phone: +49 174 940 9955
Email:eqt-offer@kekstcnc.com

Finn McLaughlan
Phone: +44 77 1534 1608
Email: eqt-offer@kekstcnc.com

About

About Hellman & Friedman
Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high quality growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including software & technology, financial services, healthcare, consumer & retail, and other business services. The firm is currently investing its tenth fund, with over $24 billion of committed capital, and has over $80 billion in assets under management and committed capital.

Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.

About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

Learn more at www.eqtgroup.com

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Ardian to acquire Míla, Iceland’s largest telecoms infrastructure company

25 October 2021 Infrastructure Iceland, Reykjavik

Síminn and Ardian reach an agreement for the acquisition of a 100% in Míla, the largest telecommunications infrastructure service provider in Iceland
Alongside Ardian, Icelandic pension funds will have the opportunity to invest in Mila

Ardian will support Míla on its path to becoming a fully independent wholesaler provider offering best-in-class network access with a focus on accelerating 5G deployment and further fibre roll-out in rural areas

Míla complements Ardian Infrastructure’s global portfolio of diversified and essential infrastructure investments in telecommunications, energy and transportation

Reykjavik, Frankfurt, Paris, 25th October 2021 – Ardian, a world-leading private investment house, announces the acquisition of a 100% stake in Míla ehf. (“Míla”), the largest integrated telecommunications network in Iceland, from Síminn Group (“Síminn”), Iceland’s leading telecommunications operator. Míla represents Ardian Infrastructure’s sixth investment in the Nordic region, its first in Iceland, and its fourth investment in the telecommunications sector, and complements Ardian’s global portfolio in terms of geographic and sector diversification.

Míla is Iceland’s largest telecommunications infrastructure company and owns a comprehensive network comprised of fixed broadband, mobile access and backhaul covering the entire country. This transaction is of unique significance in the telecommunications sector, given the current national owner is selling the entire collection of digital infrastructure, including both active and passive equipment. Ardian will support Míla’s efforts to enhance the country’s connectivity through substantial investments that will enable the roll out of additional fibre and 5G technology.

Gonzague Boutry, Managing Director in the Ardian Infrastructure team, commented: “We are very proud to have secured this unique investment, which is a perfect example of Ardian’s vision and leadership in telecommunications infrastructure. We believe that this acquisition, which comprises an entire integrated network, including passive and active equipment, will pave the way for similar transactions within the telecommunications industry.”

Síminn will remain Míla’s long-term anchor tenant to ensure its clients continue to receive best-in-class services. Post separation, Míla will become the leading platform for wholesale services in Iceland.

Orri Hauksson, CEO of Síminn said: “We are delighted to have signed this transaction with Ardian as a buyer of Mila, but more importantly, as a long-term infrastructure partner. Síminn will continue to be a strategic customer, and Míla will now become fully independent with an opportunity to flourish on its own.”

“To be recognised by a world-leading private investment house is evidence of the strength of our business,” said Jón Ríkharð Kristjánsson, CEO of Mila. “At the same time this is an exciting turning point for Míla.  With Ardian Infrastructure‘s support, Mila as an independent infrastructure provider with holistic service offerings can help to enhance the competitiveness of Iceland‘s telecommunications market. Ardian‘s financial support, experience and knowledge will enable us to develop our network even further and fulfill our mission to connect Iceland to the future.

“Alongside Ardian, several Icelandic pension funds will have the opportunity to invest in Míla.” Dr. Daniel von der Schulenburg, Managing Director and Head of Ardian Infrastructure for Germany, Benelux and Northern Europe , said: “We are excited to expand into Iceland accompanied by our local partners. The Nordic countries are a core region for the Ardian Infrastructure team, with strong fundamentals and attractive investment opportunities. For us, Míla is a long-term investment and a platform for growth. We intend to invest continuously into Iceland’s coverage and look forward to continuing to deliver top quality service and connectivity solutions. We will work together with Mila‘s management team to build an even more progressive electronic communications company.”

This transaction is yet to receive clearance from local competition authorities. Ardian does not own any competing or overlapping businesses with Míla in Iceland or in the Nordic countries.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

 

ABOUT MÍLA

Míla is the largest telecom infrastructure company in Iceland providing comprehensive end-to-end services in all areas of digital infrastructure. Mila’s network is comprised of fixed copper and fiber access, backbone and connectivity, as well as active equipment across a nationwide footprint. Míla was established in 2007 as the sole infrastructure entity of the publicly-listed telecommunications incumbent Síminn. Míla nowadays provides critical telecommunication services such as access to its fiber, mobile and backhaul network as an open access wholesaler to both Síminn and third party operators.

Press contact

ARDIAN

Headland VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

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swissfillon, a leader in sterile filling of complex pharmaceuticals, joins 3i-backed ten23 health and enhances the combined company’s integrated offering to its customers

3I

3i Group plc (“3i”) today announces that swissfillon, a leader in sterile filling of complex pharmaceuticals, is joining ten23 health, a pure-play, patient-centric and sustainable biologics drug product contract development and manufacturing organisation (“CDMO”).

Founded in 2013 by Daniel Kehl and based in Visp Switzerland, swissfillon is a FDA and Swissmedic approved drug product-focused CDMO. The company is a leader in the sterile filling of complex pharmaceuticals into innovative containers and devices, such as pre-filled syringes, cartridges and vials.

The combined business of ten23 and swissfillon will provide an integrated offering for sterile drug product development and manufacturing of biologics, challenging molecules and dosage forms, offering customers an integrated suite of services. Prof. Dr. Hanns-Christian Mahler will serve as CEO of the combined entities under the ten23 health umbrella. Daniel Kehl, founder of swissfillon, will remain with the business in a key leadership role and will help to lead ten23’s new infrastructure engineering projects that are of great strategic importance for the further development of the combined offering.

The biologics CDMO market is a c.$15bn market which is growing strongly and is characterised by a high degree of fragmentation. Increased outsourcing of key services is anticipated, driven by underlying biologics market growth, development of new advanced therapeutics such as cell & gene therapies, continued emergence of small, virtual, biotechs and increasing need for large pharma to access expertise and capacity. The combined ten23 and swissfillon will also be well positioned as biologics modalities mature and move from bulk vials into formats that facilitate better routes of administration for patients.

Daniel Kehl, current CEO of swissfillon: “We look forward to joining ten23 health’s world-class team. There is a great strategic fit between our deep expertise in sterile drug product manufacturing for complex pharmaceuticals and ten23 health’s focus on the development and manufacturing of injectable treatments. By pooling our expertise, we will be able to further expand our market position for injectable treatments. The swissfillon team looks forward to continue advancing under the ten23 health umbrella and providing our combined group of customers with excellent support and customisable solutions.”

Hanns-Christian Mahler, CEO of ten23 health commented: “I would like to welcome Daniel and the swissfillon team to ten23 health. Sterile fill and finish services are expected to experience significant growth over the coming years. This rising demand is driven by expanded drug development pipelines, incorporating more complex, large-molecule products and therapies that require specific expertise for both development and sterile production. This is precisely why we expect ten23 health’s services, now including swissfillon, to be in great demand. At ten23 health, we are very pleased that we can now offer this sought-after know-how to biotech start-ups and pharmaceutical companies from one single source”

Richard Relyea, Partner, 3i added: “The acquisition of swissfillon fits with our strategy of investing organically and with M&A to build ten23 health into an integrated biologics-focused CDMO. Following the acquisition of swissfillon, ten23 health will be one of a limited number of biologics CDMOs focused on both formulation development and fill & finish, with a particular focus on high value therapeutics.”

 

Download this press release  

 

– Ends –

 

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries		 Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Silvia Santoro
Shareholder enquiries		 Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About ten23 health   

ten23 health, headquartered in Basel, Switzerland, is the human-centric and sustainable strategic partner of choice for the pharmaceutical industry and biotech start-ups: we develop, manufacture, and test tomorrow’s medicines. We support our clients in developing differentiated, stable, usable and safe injectable treatment options for patients. ten23 health combines the latest scientific findings with our proven and tested world-class industry and regulatory expertise to forge new paths for supporting our clients. We provide our innovative services in a fair and sustainable manner, respecting people’s health and the future of our planet.

About swissfillon 

swissfillon, based in Visp, Switzerland, is a leading CDMO for high precision sterile drug product manufacturing, filling complex pharmaceuticals into innovative containers and devices. The company provides innovative pharma manufacturing solutions to satisfy previously unmet market and patient needs. Thanks to its first-class filling technology and drug product manufacturing expertise, swissfillon offers its services to a broad customer portfolio supporting biotech start-up companies as well as established pharma companies.

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

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Silver Lake Leads Thrasio’s $1 Billion Series D Financing Alongside Advent International, Upper90, and PEAK6

Advent International

Round Brings Total Funding to More than $3.4 Billion

BOSTON, October 25, 2021 — Thrasio Holdings, Inc. today announced the initial closing of more than $1 billion in Series D financing led by Silver Lake, the global leader in technology investing, together with existing investor Advent International, which remains Thrasio’s largest shareholder. Existing investors Upper90, Oaktree Capital Management, L.P. and PEAK6 Investments also participated in the round. J.P. Morgan Securities, LLC acted as exclusive financial advisor to Thrasio, while Cooley, LLP provided legal counsel.

The funding announced today is in addition to the $650 million incremental debt facility announced last month and brings Thrasio’s total funding to more than $3.4 billion. The company recently announced its three largest acquisitions ever, all of which took place in the second quarter. 2021 has seen growth accelerate, as Thrasio has acquired more than 1.5 businesses per week and has more than 200 total brands in its portfolio.

“Thrasio created the Amazon aggregator category, and their innovative approach and impressive growth have brought a lot of attention to this space,” said Greg Mondre, co-CEO, and Stephen Evans, managing director, of Silver Lake. “We believe Carlos Cashman and his team are well positioned to accelerate their growth and build the preeminent next-generation, technology-driven consumer goods company. We’re excited to partner with Carlos, his team and the existing shareholders as the company enters the next phase of growth.”

“Thrasio has quickly established itself as the largest ecommerce aggregator globally, and we are thrilled to strengthen our partnership with Carlos and his team in addition to welcoming Silver Lake as a new investor,” said David Mussafer, chairman and managing partner and Jeff Case, managing director, of Advent International. “Thrasio is well positioned for further success, and we look forward to working with the company as it continues to scale.”

Thrasio will use this investment to continue acquiring promising brands – both domestically and internationally – while expanding distribution through additional channels. The company has already made substantial inroads globally, establishing operations in the UK, Germany, China and Japan in the last year alone. Local teams will leverage Thrasio’s proven model and industry-leading funding to find valuable online brands in these relatively untapped markets.

“Our business is getting better as it gets bigger, and these investments will be invaluable as we continue on that path,” said Carlos Cashman, co-founder and CEO of Thrasio. “Advent and Silver Lake both have phenomenal track records of building successful global businesses, and the additional funds from existing investors including Upper90 and PEAK6 are extremely rewarding votes of confidence in a crowded space.”

Amazon’s third-party marketplace has led to an enormous boom in entrepreneurship, as motivated sellers have quick and easy access to an engaged audience. Consumers, meanwhile, have access to nearly any product on the planet and an abundance of choices. Thrasio helps consumers more easily access quality products while giving high-performing sellers a clear path to success.

“Amazon’s Marketplace is an amazing ecosystem that has changed the game for consumers and entrepreneurs, and we’re proud to make it even stronger,” Cashman added. “By carefully selecting, vetting and growing exceptional brands, we help ensure that sellers are rewarded for their work and consumers find quality goods. We’ll use these funds to help sellers everywhere achieve their dreams and start chasing the next.”

Thrasio’s deep experience and analytics-driven approach has enabled it to quickly identify and acquire beloved brands with growth potential. Where traditional consumer goods companies take years to conceptualize, design and market products, Thrasio’s unique approach has customer feedback built into the business model. By selecting brands that consumers already love, Thrasio is able to quickly move past those stages of product development and focus on improving and adding to existing product lines. With more than 150 completed acquisitions spanning thousands of products, consumers everywhere already rely on Thrasio for high-quality goods.

About Thrasio

Thrasio is a consumer goods company reimagining omnichannel commerce and consumer products and boasts an innovation engine that brings high-quality products to market across digital marketplaces, direct sales channels, and retailers globally. With the experience of evaluating 6,000 ecommerce businesses, data on consumer preferences from more than 200 brands, and the operational scale of thousands of products, Thrasio is the largest acquirer of Amazon FBA brands, including Angry Orange pet deodorizers and stain removers, SafeRest mattress protectors and ThisWorx car cleaning and detailing products. These brands compete with top household names, offering consumers more choice and exceptional value. Thrasio was founded in 2018 by Carlos Cashman and Joshua Silberstein.

For more information, visit www.thrasio.com

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Blackstone Buys Majority Stake in SPANX, Inc.

Blackstone
  • Companies align to help empower women globally
  • The acquisition will accelerate SPANX’s already rapid digital transformation and expansion of its global footprint across more categories
  • Transaction led by all-female Blackstone investment team
  • Blakely to become Executive Chairwoman of newly appointed board of directors

ATLANTA & NEW YORK – October 20, 2021 – SPANX, Inc., the mission-driven womenswear brand founded by Sara Blakely in 2000, today announced a definitive agreement for a majority investment from funds managed by Blackstone (“Blackstone”), a leading global investment business. The firm has agreed to buy a majority stake in the company at a valuation of $1.2 billion – with Blakely maintaining a significant equity stake in the business. Blakely, along with SPANX’s existing senior management team, will continue to oversee daily operations, and at closing, Blakely will become the Executive Chairwoman. The acquisition will enable SPANX to accelerate its already rapid digital transformation and strong online presence in the e-commerce channel, expand its global footprint, and fuel its commitment to creating innovative, ground-breaking products for its customers across even more categories. The companies intend to create an all-female SPANX board of directors as they align to help empower women globally.

This acquisition is the culmination of an unprecedented journey for Blakely and SPANX. SPANX was founded by Blakely 21 years ago when she took $5,000 in savings and set out to take on the male-dominated shapewear and undergarment industry. Blakely, who had never taken a business class in her life and was selling fax machines door to door at the time, wrote her own patent and invented the first SPANX undergarment in her apartment.  Without ever taking any outside investment, she went on to turn SPANX into a global powerhouse that has changed the lives of women all over the world. Blakely has been named one of TIME magazine’s 100 Most Influential People in the world and was featured on the cover of Forbes magazine as the youngest self-made female billionaire. Through her personal foundation, Blakely has given millions of dollars to help elevate other women and in 2013 she signed the Giving Pledge, promising to donate half her wealth to philanthropy.

“This is a really important moment in time for female entrepreneurs,” Blakely said. “I started this company with no business experience and very little money, but I cared the most about the customer, and that gave me the courage to launch the company. At SPANX, we have always put the customer at the center of what we do. I am as excited today for the future of SPANX as I was when I started it 21 years ago. Now together with Blackstone, we will have even more opportunity to further our mission of making the world a better place… one butt at a time!”

Ann Chung, Global Head of Consumer for Blackstone Growth (BXG), said: “Sara is an iconic businesswoman who bootstrapped SPANX into not only a category creator and household name, but also a symbol of authenticity, confidence building and female empowerment. We’re honored that Sara and her team have placed their trust in Blackstone as their partner of choice to further accelerate SPANX’s digital transformation and growth, and look forward to what the business will achieve with our full set of resources behind it.”

Chung continued: “On a personal level, I am deeply proud to have led an all-female Blackstone investment team in this partnership with Sara and her accomplished female senior management team. We’re also excited for SPANX to join Blackstone’s growing investment portfolio of highly successful female-founded businesses.”

Today’s investment in SPANX is the most recent example of a number of innovative female-founded companies Blackstone is proud to back. This includes in just the last two years Bumble, the online dating app where women make the first move founded by Whitney Wolfe Herd; Hello Sunshine, the mission-driven media company that puts women at the center of every story it creates, founded by Reese Witherspoon; Hotwire Communications, a leading provider of cutting-edge fiber-based telecommunication services co-founded by its CEO Kristin Johnson; and GeoComply, a global leader in geolocation compliance technology, co-founded by its Chairman Anna Sainsbury. This is in addition to female-led technology businesses in which Blackstone has invested such as Ancestry.com, Articulate, and Ellucian.

Blackstone will be making its investment in SPANX through its Blackstone Growth (BXG) and Blackstone Tactical Opportunities businesses. The transaction is subject to customary closing conditions.

SPANX was represented by Goldman & Sachs and Allen & Co. in the transaction, with legal representation from Cravath, Swaine and Moore. King & Spalding served as Blakely’s legal advisor. Blackstone’s financial advisor for the transaction was JPMorgan and legal advisor was Simpson Thacher & Bartlett LLP.

ABOUT SPANX, INC.

Founded by Sara Blakely in 2000, SPANX, Inc. is a dynamic women’s brand that has revolutionized an industry and changed the way women around the world get dressed. The mission of the brand is to make things better and more comfortable for women. Through tremendous consumer demand, the company has expanded into offering both innerwear solutions and figure-flattering outerwear, activewear and swimwear. SPANX is constantly identifying and solving problems from a women’s point of view. With smarter, more comfortable must-haves including leggings, denim, the Perfect Pants collection, activewear, intimates and innovative shapewear, SPANX elevates women through product and empowers them to look and feel their best. Further information is available at www.spanx.com. Follow Spanx on Facebook, Twitter and Instagram @Spanx.

ABOUT BLACKSTONE

Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $684 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

MEDIA CONTACTS

SPANX:
Lauren Hauther
(470) 868-8492
LHauther@spanx.com

Blackstone:
Matt Anderson
(518) 248-7310
Matthew.anderson@blackstone.com

Mariel Seidman-Gati
(917) 698-1674
Mariel.seidmangati@blackstone.com

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Capricorn Partners leads investment round in Belgian digital health tech company DEO

Capricorn

Leuven, Belgium: 22 October 2021 – DEO, a company that provides hospitals and healthcare industry partners with comprehensive data insights inside the operating room (OR), has announced a € 3.65 million funding round. Capricorn Partners led the round via their Capricorn Digital Growth Fund and was joined by French investor Karista, a leading European HealthTech Fund, bringing international perspectives to the syndicate. Existing shareholders LRM and the imec.istart Fund also participated in this round.

With its AI-backed data platform, DEO helps hospitals implement OR efficiency best practices while supporting healthcare industry partners move towards value-based healthcare through continuous data generation and quantification of operating room efficiency, team ergonomics, and financial performance.

A strong demand to leverage data and AI to safeguard the healthcare system

The consortium of investors strongly believes that DEO’s unique and proven methodology is the approach for hospitals and healthcare partners to leverage data and AI to improve operational excellence in the OR.

Demand for DEO’s solution is eminent to meet increasing patient demand while overcoming medical staff shortages and immense hospital reimbursement pressure. Moreover, the aftermath of the pandemic accelerates this demand to safeguard national healthcare systems.

Antoine D’Hollander, Investment Associate at Capricorn Partners, elaborates, “DEO’s vision perfectly aligns with our investment strategy to focus on companies that turn data into actionable insights. Healthcare is primed to benefit from digital solutions that are powered by the convergence of human & artificial intelligence. DEO rises to this challenge with its OR efficiency platform that positively impacts the healthcare ecosystem to ensure safe and affordable care.”

“We’re thrilled to welcome these experienced and prominent investors to our mission. We’re very proud of their trust in the DEO team, and their confidence in the massive potential DEO has. With their support, we aim to further unlock new and crucial data and insights for hospitals and healthcare partners alike,” says Jeroen Dille, CEO and Co-Founder of DEO.

Even stronger technology suite and expansion to more surgical specialties

The new financing will enable DEO to accelerate business development, build more commercial partnerships in Europe and the US, and strengthen their product offering even further by developing new software applications on top of the existing data platform, including automated technologies.

After years in orthopaedics, serving both hospitals and medical device companies, like Johnson & Johnson, DEO will also use the additional capital to scale its offering to other surgical specialties and ramp up hiring across all areas of the company.

Michaël Thomas, Senior Investment Manager at Karista, adds, “We’re very proud to contribute to DEO’s further international growth with this investment. The company has proven its value to be undeniable and recognizing the huge market potential; we firmly believe that DEO stands to play a key role in the way healthcare uses data and analytics to transform the patient pathway.”

Support healthcare providers move towards value-based healthcare

Technology advances, combined with new surgical specialties, inevitably open the door for DEO to offer its solution to even more healthcare providers, enabling true value-based healthcare. Generating first-of-its-kind datasets inside the OR, DEO provides eye-opening insights on workflows, team ergonomics, material usage, and financial performance. These insights reveal specific improvement opportunities to reduce fatigue of surgical teams, increase surgery volume, and reduce the total cost of surgery.

Tom Aerts, Head of Investments at LRM adds, “The fact that DEO already collaborates with hospitals and world-leading medical device companies is an excellent testimony to how the company’s technology work to turn real-time, local data into tailored, actionable insights. No doubt, we’re thrilled to continue to be part of DEO’s journey and contribute smart money to its ambition of supporting healthcare providers and industry to achieve their goals.”

Read the full press release here, or on DEO‘s website.

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Batch – Our investment in leading push notification (web and mobile) provider

Created by Simon Dawlat and Antoine Guénard in 2015, Batch is recognized on the market and is growing rapidly and steadily thanks to its new generation CRM platform allowing brands to make their customer journeys mobile centric. It has 70 employees spread between Paris and Lyon and over 500 customers, including most media outlets, many key accounts, service companies, and startups as well as 30% of its customers being international – from the UK and Germany.

This €20-million funding round, announced today, will enable Batch to develop three key projects: the creation of 170 new positions and strengthening its unique corporate culture, optimizing and building-up its technological platform and opening new offices in Marseille, London and Berlin.

A key investment in Orange Venture’s strategy
The mobile-first CRM platform offers a holistic vision of the customer and their journey, meaning omnichannel strategies can be implemented. This participation is perfectly in line with Orange Ventures’ investment strategy, which is based on the desire to support future global tech champions that aim to assist the responsible digital transformation of companies and society. The partnership between Orange Ventures and Batch will provide agile and structured access to Orange ecosystems and commercial business units.

An ambitious development in the coming years
Using this funding, Batch’s first priority is to strengthen its corporate culture by investing in projects devoted to its employees, such as management and financial performance transparency, decision-making processes, work from home as well as gender equality and parenthood. The start-up aims to have 150 employees by end 2022, and 250 employees by 2023. This funding will also be used to continue to strengthen and optimize the technological platform while boosting its development and international growth.
“We are delighted with the support from Orange Ventures during this fundraising because we share the same ambitions. But above all, we share strong common values. Beyond the development of our platform and our international growth, this fundraising will allow us to focus on our corporate culture, because people are at the center of our priorities and represent the base of our development,” says Simon Dawlat, co-founder of Batch.
“Batch has managed to position itself as the leader on its domestic market and to develop a corporate culture focused on its employees’ development. In line with its ambition to help develop a new win-win ecosystem between very agile startups and a major group like Orange, Orange Ventures is happy to support Batch to accelerate its international development and continue its efforts to develop a technology that perfectly addresses the companies’ digitalization challenges,” explains Jérôme Berger, President and Managing Partner of Orange Ventures.

About Batch
Batch has developed a multi-channel customer engagement platform designed for the new generation of marketing divisions and focused on the needs of key accounts and scale-ups. Self-financed for over 6 years, with close to 100 employees, Batch raised its first €20 million in 2021 to strengthen its culture, develop its platform and boost its international deployment. The company is based in Paris and Lyon, with offices in several European cities.
For more information: www.batch.com/

Press Release from Batch
Press Release from Orange Ventures (ENG)
Press release from Orange Ventures (FR)

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EQT Private Equity and Vitruvian Partners announce significant investment in CFC

eqt

EQT Private Equity has agreed to make a significant investment together with Vitruvian Partners in CFC, a leading technology-driven global insurance business

CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber, serving more than 100,000 businesses in over 90 countries.

EQT Private Equity and Vitruvian Partners will support CFC’s investments in innovative and market-leading technology and in continuing to deliver best-in-class products and services to its customers

EQT is pleased to announce that the EQT IX fund (“EQT Private Equity”) has agreed to invest in CFC (the “Company”) alongside management and Vitruvian Partners (“Vitruvian”).

Founded in 1999, CFC was one of the pioneers in the cyber insurance market. Today, it is a technology-driven business that has established itself as a global leader in cyber and provider of cover for a diverse range of emerging risks that sit at the intersection of technology and business. CFC writes 50 products across 20 different classes of specialist insurance focused primarily on SME businesses.

The company has significantly grown its employee count over the past three years and has an established global footprint with more than 500 staff located across the UK, US, Europe and Australia. Earlier in the year CFC also launched its own Lloyd’s Syndicate.

CFC’s continued growth trajectory underlines the depth and quality of its business model: it has an annual premium run rate in excess of GBP 750 million (USD 1 billion) and delivered an organic EBITDA CAGR of 35 percent over the last five years.

Upon completion, following regulatory approval, CFC will nearly double its employee shareholders from 175 to over 300. Employees will remain the largest shareholder in CFC.

Dave Walsh, CFC founder and Group CEO, said, “We’re delighted to welcome EQT as an investor alongside Vitruvian. Both EQT and Vitruvian’s focus on high-growth technology companies and commitment to creating a positive impact through their portfolios is a natural fit with CFC and our ethos as an independent, employee-owned business. EQT’s investment, and Vitruvian’s reinvestment, is testament to CFC’s track record of delivering strong, profitable growth underpinned by the expertise of our people and our history of market-leading technology innovation.

“As we look ahead, we see a risk landscape that is rapidly shifting, with ever-expanding cyber threats, new insurance challenges presented by intangible assets and evolving risks in rapid growth sectors. CFC has a key role to play in helping our growing customer base address these challenges, while the pioneering technology we’ve built over the last two decades is enabling us to deliver at increasing scale. We look forward to partnering with EQT and thank Vitruvian for their continued partnership. It has never been a more exciting time to be at CFC.”

Robert Maclean, Partner within EQT Private Equity’s Advisory Team, commented, “CFC is a truly innovative insurance business with technology at its core and a track record of growth and profitability which surpasses even the most mature Fintech businesses we’ve seen. The accelerating pace of investments in its core platform aligns perfectly with EQT’s approach of future proofing companies.”

Joe O’ Mara, Partner at Vitruvian, commented, “As longstanding partners and investors in CFC, we couldn’t be more enthusiastic about the road ahead. We’ve witnessed first-hand what a remarkable business CFC is – a tribute to the leadership team, the culture they’ve created and the commitment to excellence and innovation that has kept CFC at the forefront of the insurance market.”

Sofia Ahuja, Managing Director within EQT Private Equity’s Advisory Team, added, “CFC’s unrivalled reputation in cyber insurance and focus on emerging risk areas ensures that it is well-placed to capture the significant growth expected in the classes it writes. We’re delighted to invest alongside Vitruvian at this exciting stage in CFC’s journey.”

Stephen Byrne, Partner at Vitruvian, added, “We would like to thank the whole CFC team for a great partnership over the last four years and we are excited to be able to continue to support their ambitions for the future.”

EQT was advised by Morgan Stanley, Kirkland & Ellis, KPMG and Bain & Company on the transaction.

The transaction is subject to customary conditions and approvals. With this transaction, EQT IX is expected to be 70-75 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
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 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About CFC
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber. Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks. Headquartered in London with offices in New York, Austin, Brussels and Brisbane, CFC has over 500 staff and is trusted by more than 100,000 businesses in 90 countries.

More info: www.cfcunderwriting.com

About Vitruvian
Vitruvian is an independent growth capital firm headquartered in London with offices across London, Stockholm, Munich, Luxembourg, San Francisco, and Shanghai. Vitruvian focuses on dynamic situations characterized by rapid growth and change across industries spanning information technology, financial services, life sciences & healthcare, media, and business and consumer services. Vitruvian is currently investing from its fourth fund, the €4.0 billion. Vitruvian Investment Partnership IV, which is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian Funds have backed over 45 companies and have assets under management of approximately €10 billion. Notable investments to date include global market leaders and innovators in their field such as Just Eat, FarFetch, Darktrace, Trustpilot, Marqeta, TransferWise, and Skyscanner.

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EQT CFC
211021_EQT Private Equity and Vitruvian announces significant investment in CFC

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The Hand Clinic joins Bergman Clinics

NPM Capital

ending approval by the Dutch Healthcare Authority (NZa), Bergman Clinics will acquire the Amsterdam-based specialised clinic The Hand Clinic. This acquisition allows Bergman Clinics to further expand its healthcare portfolio focused on the locomotor system.

The Hand Clinic has been devoted to hand and wrist care for fourteen years and is known for its customer focus and the high quality of its care. As a result, the clinic attracts clients from a large catchment area. According to Monika Ritt, general director of The Hand Clinic, this explains the continuously growing demand for its services. “To meet that demand, we had been looking to join forces with a large and renowned partner. We are happy to announce that we will be joining Bergman Clinics. They share our high standards of quality and are eager to further develop their capacities for hand and wrist surgery.”

Hans van der Heijden, CEO of Bergman Clinics, also expressed his excitement about the acquisition. “This step gives us the opportunity to expand our specific healthcare offerings dedicated to the locomotor system, starting from a shared vision on planned medical care in which quality, client focus, and efficiency are front and center,” he said.

The planned acquisition of The Hand Clinic by Bergman Clinics is scheduled for the end of 2021 and will be closed pending approval by Bergman Clinics’ works council and the Dutch Healthcare Authority (NZa).

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