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Blackstone to Invest in Liftoff to Help Fuel Future Growth

Blackstone

Partnership will further accelerate Liftoff as a leading performance marketing platform

NEW YORK and REDWOOD CITY – December 22, 2020 – Liftoff, a global performance-based mobile app marketing optimization platform, announced today it has reached a definitive agreement for a majority investment from private equity funds managed by Blackstone (NYSE:BX, “Blackstone”). This strategic partnership marks a new phase in Liftoff’s continuing mission to develop industry-leading technology and product solutions that help marketers grow their engaged user bases through initial and ongoing engagement efforts.

Founded in 2012, Liftoff partners with mobile app marketers to grow their platforms globally. Liftoff’s best-in-class technology solutions deliver more than one billion engaging ads each day to high value users in more than 90 countries and across more than 500,000 mobile publishers. As content consumption increasingly shifts to mobile devices, the company is well positioned to serve the high-growth mobile app ecosystem as a leader in programmatic user acquisition and retention. Liftoff has been included on the Inc. 5000 list of fastest growing companies in the U.S. in each of the last four years. Headquartered in Redwood City, California, Liftoff has additional offices in New York, San Francisco, Seattle, Berlin, London, Paris, Singapore, Seoul, and Tokyo.

Blackstone has been an active investor in digital content and advertising technology, including recent investments in Ancestry, Bumble, and Vungle. Liftoff’s partnership with Blackstone reflects a shared belief in the future growth potential of the industry and long-term vision to build on Liftoff’s leadership position. Blackstone’s investment will help enable Liftoff to further accelerate investment priorities, expand its global footprint, and fuel future growth initiatives.

Sachin Bavishi, Managing Director at Blackstone, said: “Liftoff is a market leader and a key growth partner for many of the world’s leading mobile app developers through its extensive global reach and strong programmatic capabilities. This investment reflects our high conviction in both mobile content and mobile advertising, and we believe that Blackstone’s extensive resources and expertise will help enable Liftoff to further capitalize on its strong momentum and significant growth potential. We are very excited to partner with Liftoff’s talented founders to continue to provide best-in-class solutions to the industry.”

Martin Brand, Co-Head of U.S. Acquisitions for Blackstone’s Private Equity Group, said: “Liftoff is an independent leader in the marketplace for mobile ads. Blackstone has significant experience investing in the fast-growing mobile ecosystem, and we are excited to back Mark and his team as they continue the rapid growth of Liftoff.”

“We’re excited to be partnering with Blackstone, one of the premier private equity firms in the world,” said Mark Ellis, CEO and co-founder of Liftoff. “Blackstone’s expertise will be invaluable as we continue to scale our company globally, expand our product offerings and help more mobile marketers build a growing audience of engaged users for their mobile experiences.”

The transaction is expected to close early next year, subject to customary closing conditions. Goldman Sachs & Co. LLC served as financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP served as legal advisor to Liftoff while LUMA Partners LLC served as financial advisor and Simpson Thacher & Bartlett LLP served as legal advisor to Blackstone. Terms of the transaction were not disclosed.

About Liftoff
Liftoff is a complete mobile app marketing platform that helps companies acquire and retain high quality mobile app users at scale. Liftoff uses prediction intelligence and unbiased ML to find engaged users at scale for mobile app marketers, creative testing to deliver the most engaging ad experience and a unique cost per revenue model to optimize for LTV goals. Liftoff is proud to be a long term partner to leading brand advertisers and app publishers since 2012. Headquartered in Redwood City, Liftoff has a global presence with offices in New York, San Francisco, Seattle, Berlin, London, Paris, Singapore, Seoul, and Tokyo.

About Blackstone
Blackstone is one of the world’s leading investment firms. 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 $584 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.

​​​​​CONTACTS

Blackstone 
Matt Anderson
212-390-2472
matthew.anderson@blackstone.com

Liftoff 
Dennis Mink
415-938-6465
dennis@liftoff.io

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CVC Credit supports DMS Governance’s buy and build growth strategy

Debt facilities provided by CVC Credit have enabled five add-on transactions since 2019

CVC Credit is pleased to announce that it has further supported DMS Governance (“DMS”) by providing incremental facilities for two add-on opportunities: MDO in August and Montlake in November. CVC Credit has supported DMS since 2019, when it acted as the sole lender for the MML Capital Partners led management buyout.

Founded in 2000, DMS is a global provider of governance, risk and compliance solutions to leading investment funds and managers with aggregate assets under management exceeding US$350 billion. The business operates three separate divisions; Fund Governance, Risk and Compliance, and European Fund Management Solutions, which provide high-quality professional services across a diverse range of investment fund structures and strategies.

Headquartered in Luxembourg, MDO is an independent fund service supplier focused on the provision of management company services. The business manages over 55 funds with AUM of over €31 billion. MontLake is an independent fund services provider headquartered in Dublin. The business specialises in the provision of on and off-platform management company services to European regulated funds. It has an AUM of more than €7 billion, comprising 76 funds managed by over 60 investment managers.

Derek Delaney, CEO of DMS Governance, commented: “The Montlake and MDO mergers are truly accretive to DMS’ existing offering. They augment our product suite and expand our geographic footprint, as well as adding a fantastic new group of valued staff and clients. Our partners, MML and CVC have been integral in seeing these transactions through to fruition and we are grateful for their support and ongoing conviction in our growth strategy.”

Chris Fowler, Managing Director in CVC Credit’s European Private Credit business, added: “CVC Group has a broad track record of investing in the fund services space, through investments such as TMF Group in CVC Capital’s Fund VII. This enabled us to validate the high quality of the DMS platform, team and market opportunity when providing the initial acquisition financing and subsequent follow-on capital to support their buy and build programme, which has included five add-on transactions under MML’s ownership. We continue to see considerable value creation opportunities for Derek and his team and are pleased to continue to support them on their next phase of growth.”

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Platinum Equity Sells Compart Systems to Shanghai Wayne Enterprises

Platinum

Press Release · December 22, 2020

LOS ANGELES (December 22, 2020) – Platinum Equity announced today that it sold Compart Systems Pte Ltd. (“Compart” or the “Company”) to Shanghai Wanye Enterprises Co., Ltd. (“Wanye”) in a transactions valued at approximately $398 million.

Compart, headquartered in Singapore with primary operations in China and Malaysia, is a supplier of high-precision, machined metal components including valves, fittings, sensors, and related components for a range of industries.

Platinum Equity is a Los Angeles-based global private equity firm focused on acquiring businesses that can benefit from the firm’s operational expertise. The Compart investment was led by Platinum Equity’s Singapore office.

“We have committed substantial financial and operational resources to our investment strategy in Asia and Compart’s success further extends our track record of creating value in the region,” said Jacob Kotzubei, the partner in Platinum Equity’s Los Angeles headquarters who oversees the firm’s Singapore-based team. “We have a lot of experience transacting in Asia, with a dedicated team on the ground supported by our global network.”

Mr. Kotzubei noted that just last week Platinum Equity announced it would acquire Ingram Micro Inc. from a Shanghai-listed unit of Chinese conglomerate HNA Group for $7.2 billion.

Platinum Equity acquired Compart as a carve out from Broadway Industrial Group Limited in 2016, and then drove a comprehensive transition and operational improvement program to establish the company as a thriving standalone business.

“We transformed Compart from a traditional manufacturing business into a technology-driven solutions provider that is now much more valuable to its multi-national customers in need of high-quality manufacturing partners in Asia,” said Soo Jin Goh, Managing Director at Platinum Equity and head of the firm’s Singapore-based investment team. “We deployed the full range of Platinum’s M&A and Operations tool kit and made good on our pledge to help the company grow, both organically and through add-on acquisitions.”

“We have committed substantial financial and operational resources to our investment strategy in Asia and Compart’s success further extends our track record of creating value in the region,” said Jacob Kotzubei, the partner in Platinum Equity’s Los Angeles headquarters who oversees the firm’s Singapore-based team. “We have a lot of experience transacting in Asia, with a dedicated team on the ground supported by our global network.”

In 2018 Compart acquired and then commercialized a valuable portfolio of intellectual property that allowed the company to move up the technology value chain and strengthened its R&D capabilities in Singapore.

In 2019, Compart acquired Alpha Precision Turning & Engineering, which helped diversify the company’s revenue, added scale, and expanded its footprint into Malaysia.

“Platinum has been an outstanding partner that helped provide the strategic direction the company required and then gave us the resources we needed to successfully execute on our plans,” said Compart CEO Russ Norwood. “We’ve now found the perfect home for the business going forward and are excited to be a part of Wanye’s ambitious plans for growth.”

BDA Partners served as financial advisor to Platinum Equity on the sale of Compart and Clifford Chance served as Platinum Equity’s legal advisor on the transaction.

 

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 300 acquisitions.

 

About Compart Systems

Compart Systems is a global supplier of precision engineered solutions for critical components and assemblies for over 30 years. Compart is a vertically integrated technology and IP organization manufacturing industry leading components, surface mount parts, weldments and assemblies including gas sticks and mass flow controllers.

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

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Ardian to support establishment of a new market leader for onshore wind power in Germany by EWE and the Aloys Wobben Foundation

Ardian

  • 22 December 2020 Infrastructure Germany, Frankfurt

• Transaction creates leading German producer of green electricity with more than 2.3 gigawatts of installed capacity
• EWE and the Aloys Wobben Foundation sign agreement to establish a joint venture with a planned investment volume of EUR 3.6 billion by 2030

Paris/Frankfurt/Aurich/Oldenburg, December 22, 2020 – Oldenburg-based energy service provider EWE and the Aloys Wobben Foundation, sole shareholder of Aurich-based wind turbine manufacturer ENERCON, signed today a respective shareholder and investment agreement to form a joint venture in onshore wind energy. Ardian, a world leading private investment house, has held a 26 percent stake in EWE since February 2020 and is supporting the establishment of the new company. According to the agreement, both sides will each hold 50 percent of the shares, and ENERCON and EWE will contribute their existing wind farms and onshore projects to the future joint venture. Corporate management will lie within EWE’s remit, while the Aloys Wobben Foundation will appoint the chair of the Supervisory Board. The completion of the transaction, expected in spring 2021, is still subject to approval of the German Federal Cartel Office.

The new company will have an installed capacity of more than 2,300 megawatts based on existing systems and a project pipeline of over 9,400 megawatts, making it the market leader in onshore wind activity in Germany as well as one of the largest companies in the field of wind energy in Europe. The aim is to realize an increase of more than 200 megawatts per year and to increase the existing capacity to up to 5 gigawatts by 2030. In addition, further international growth is planned. As a result, this will create one of the largest producers of green electricity in Germany and France in the coming years. Investments totaling up to EUR 3.6 billion are foreseen for the project by 2030. The company, which also owns the Düsseldorf-based direct marketer Quadra Energy, takes a manufacturer-independent approach to the realization of its projects.

Dr. Daniel Graf von der Schulenburg, Managing Director and Head of Ardian Infrastructure Germany and Northern Europe, said: “This transaction shows how we, as shareholders, support the further development and transformation of the companies in which we invest to further the vision of a new era in energy. Accelerating the growth of EWE, in particular in the field of renewable energy, is one of our common strategic goals since we took a stake in EWE one year ago. With this partnership, the company is now taking another important step in this direction in the shortest possible time, and we warmly congratulate Stefan Dohler and his team.”

Stefan Dohler, CEO of EWE AG, added: “If we are to achieve the climate targets set in the Paris Agreement, we need to act quickly and, above all, decisively. This requires strong market participants, who are of critical size, to make a difference. We are now forming such a company with the new joint venture. With Ardian, we feel fortunate to have a shareholder who supports this goal. “

Ardian Infrastructure is a pioneer in renewable energy investments in Europe and America with a total capacity of around 5 gigawatts (GW) in the wind, solar and biomass sectors.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$103bn 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 700 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 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

 

ABOUT EWE

EWE is an innovative service provider active in the business areas of energy, telecommunications and information technology. With over 8,800 employees and sales of around EUR 5.7 billion in 2019, EWE is one of the largest utility companies in Germany. The company, based in Oldenburg, Lower Saxony, is primarily owned by the local government. It provides electricity to around 1.4 million customers in northwest Germany, Brandenburg and on the island of Rügen, as well as parts of Poland, and supplies natural gas to almost 0.7 million customers. It also provides approximately 0.7 million customers with telecommunications services. To achieve this, the various companies in the EWE Group operate around 210,000 kilometres of electricity grid, natural gas grid and telecommunications networks. To provide comprehensive fibre-optic expansion in the region, EWE and Telekom Deutschland founded the company Glasfaser Nordwest, which will invest EUR 2 billion in fibre-optic expansion in the northwest over the next ten years.

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ABOUT THE ALOYS WOBBEN FOUNDATION

As the sole shareholder, the Aloys Wobben Foundation (AWS) is responsible for the long-term continuity and success of the ENERCON Group. Established in October 2012, its central purpose is to preserve the legacy of ENERCON founder Dr Aloys Wobben and to maintain the independence of the company. For health reasons, Dr Aloys Wobben retired from active participation in the business in 2012 and transferred his assets to the family foundation.
An additional purpose of the foundation is the support of defined charitable goals and to contribute to the preservation of creation in keeping with the founder’s intentions. Dr Aloys Wobben always saw this as his task. These goals focus on supporting research and education, especially in the energy sector; subsidising social and humanitarian purposes; supporting protective and developmental facilities for children; and subsidising cultural purposes.
The foundation’s Board of Management and Advisory Board form the AWS foundation’s bodies which are headquartered in Aurich, Lower Saxony. The Management Board directs and manages the foundation in compliance with statutory regulations and its articles of association. It is represented by Chief Executive Officer Heiko Janssen and Joachim Röer as a member of the Board of Management. The Advisory Board currently consists of four members. It appoints the Management Board, monitors its activities and provides advice on strategic matters.

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PRESS CONTACTS

CHARLES BARKER CORPORATE COMMUNICATIONS

PETER STEINER

ardian@charlesbarker.de Tel: +49 69 79409027

JAN P. SEFRIN

ardian@charlesbarker.de Tel: +49 69 79409026

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Motive Partners Closes Sale of Avaloq to NEC

Motive Partners

New York, December 22, 2020 – Motive Partners today announced that it has completed the sale of Avaloq, a Swiss-based technology provider of digital banking solutions, core banking software and wealth management technology, to NEC Corporation, a Japan-based IT group, for CHF 2.05 billion. The sale agreement was first announced in October 2020. Motive Capital Fund 1 acquired a stake in the company in January 2018.

As the world witnesses a democratization of wealth management, Avaloq is well placed to capitalize on geographic expansion with its new partner, and to lead in digital banking solutions for high-end wealth management services and private banks globally. The democratization of the sector and digital inclusion is going to be an essential topic in the future as we see wealth shift geographies, classes and generations. Market trends continue to produce net flow and fee pressure and with an increase in competition, the industry is seeing further pressure on wealth managers to deliver more value to clients while simultaneously reducing the cost-to-serve. As the industry consolidates across markets in order to scale, Motive Partners seeks to capitalize on these trends.

Rob Heyvaert, Managing Partner of Motive Partners said: “We saw great potential in Avaloq as a result of its history as a global leader in wealth management technology, the opportunity for up-sell and cross-sell opportunities within its existing blue-chip client base, and the opportunity to support this client base through a transition to a cloud-based SaaS platform. Additionally, Motive Partners supported the company as it expanded beyond its traditional home market of Switzerland into the U.K., Germany, and APAC. We enjoyed this exciting journey working together with Avaloq, and with its strong leadership in place, we are confident that Avaloq will enjoy continued success as part of NEC.”
Francisco Fernandez, Founder and Chairman of Avaloq commented: “I have enjoyed working with Motive Partners a great deal, who have proven to be a very supportive investor. Led by industry experts, they shared our collective ambitions while providing the strategic support to allow Avaloq to achieve it’s potential, today and for many years to come. NEC’s geographic footprint and ability to continue investing heavily in R&D will set us in great stead for the future. I am deeply grateful to my partners at Motive Partners, with whom I have grown close to, and I look forward to continuing our friendship.”

About Motive Partners
Motive Partners is a specialist private equity firm with offices in New York City and London, focusing on control-oriented growth equity and buyout investments in software and information services companies based in North America and Europe and serving five core sub-sectors across business and financial services: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies.
More information on Motive Partners can be found at www.motivepartners.com.

About Avaloq
Founded in 1985, Swiss-based Avaloq is a global leader in digital banking solutions, core banking software and wealth management technology. Avaloq provides powerful cloud computing solutions for banks and wealth managers through BPaaS and SaaS. Avaloq is the only independent banking software provider to develop and also operate its own software.
Its established core banking system is complemented by three innovative digital platforms – Engage, Wealth and Insight – providing end-to-end digital solutions at a level of simplicity that will pave the way for the democratization of wealth management. To further spur innovation, Avaloq connects its clients with selected Financial Technology companies through the Avaloq.one Ecosystem, the company’s open banking marketplace.
More than 150 banks and wealth managers with around CHF 4.5 trillion in assets managed worldwide trust Avaloq for its award-winning products and services. Avaloq has its headquarters in Zurich, Switzerland and employs more than 2,000 people around the world.
More information on Avaloq: An NEC Company can be found at www.avaloq.com.

Forward looking statements
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and benefits of the transaction. Statements can generally be identified as forward- looking because they include words such as “believes,” “anticipates,” “expects,” “could,” “should,” or words of similar meaning. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The factors that may adversely impact the anticipated outcomes include, among others: the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement; conditions to the completion of the transaction may not be satisfied on the terms expected or on the anticipated timeline; and the benefits of the transaction may be different than currently anticipated. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. Wilshire assumes no obligation to update any forward-looking statements, which speak only as of the date of this news release.

For more information please contact:
EMMA GLYN
Investor Relations, Motive Partners
emma.glyn@motivepartners.com

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Gryphon Investors Completes Majority Investment in Meazure Learning

Gryphon Investors

San Francisco, CA – December 22, 2020 —

Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has become the majority investor in Meazure Learning (“Meazure” or the “Company”), a full-service exam delivery and online proctoring solution provider for academic, professional, and lifelong learners. Existing sponsor Eastside Partners will retain a significant ownership stake, as will the Company’s management team, including go-forward CEO Scott McFarland. Financial terms of the transaction were not disclosed.

Meazure Learning is the world’s largest remote exam proctoring company, also offering a full suite of assessment products and services, including proprietary exam development and delivery software as well as reporting and psychometric services, to the academic and professional testing markets. Based in Birmingham, AL, the Company employs nearly 300 people plus a network of over 1,300 trained proctors, and it serves more than 1,000 clients including major universities, certification and licensure associations, standardized testing services, and corporations.

Nick Orum, President and Co-Head of Gryphon’s Software Group, said, “Gryphon has invested previously in the education sector, and we are excited by the trends we’re seeing in the continued intersection of technology and learning. The increasing consumer preference for digitally driven flexibility has opened up a multi-billion-dollar market opportunity in the academic and professional remote testing spaces. We are thrilled to partner with the team at Meazure as we look to welcome new customers and reinforce the Company’s position as the most secure, convenient, and accessible experience for test-takers across the globe.”

Meazure’s management team will continue to be led by CEO McFarland and President Sandy Pitman. As part of the new partnership, Mr. Orum will join the Board of Directors, along with three additional Gryphon executives. Carl Theobald, Software Operating Partner, Jon Cheek, Principal in the Software Group, and Paul Margolis, Executive Advisor to Gryphon’s Software Group, will all join Eastside Partner Benjamin Cobb, who remains on the board.

Mr. Cheek commented, “Even before COVID-19, remote test-taking was undergoing a ‘Blockbuster to Netflix’ type transformation due to massive expansion in e-learning, a proliferation of professional training and certification programs, and a growing recognition of the test-taker convenience and cost savings offered by an online approach versus in-person testing. The pandemic has accelerated these growth trends beyond all expectations and given strong players like Meazure an enormous competitive advantage.”

Mr. Cobb added, “The pandemic has required many test owners to adopt remote proctoring solutions this year, often against the backdrop of 20+ years of in-person testing. We’ve helped testing organizations transition from uncertainty to excitement with remote testing due to some of its unique advantages – secure, safe, convenient, on-demand testing with global candidate reach. We’re excited to partner with Gryphon to better serve our customers and scale our solutions to support test owners whose needs aren’t being met.”

“We are delighted to partner with Gryphon as we plan for near-term, rapid expansion fueled by a changing industry and shifting expectations and requirements by test-takers,” said Mr. McFarland. “Their investment will allow us to solidify our position as a best-in-class remote testing and exam integrity platform and accelerate growth, both organically and through strategic acquisitions.”

Baird acted as financial advisor to Gryphon, and Raymond James was the financial advisor to Meazure. Kirkland & Ellis acted as legal advisor to Gryphon, and Bradley acted as legal advisor to Meazure. Terms of the deal were not disclosed.

About Meazure Learning
Meazure Learning (www.meazurelearning.com) is a full-service testing solutions company for academic, professional and lifelong learners. The result of a merger between ProctorU – the world’s largest provider of online, artificial-intelligence-augmented exam security and identity management solutions – and Yardstick Assessment Strategies – a leader in psychometrics and computer-based examination administration for professional testing organizations – Meazure Learning serves the higher education market via the ProctorU brand and the professional testing market via the Yardstick brand. As the first end-to-end testing provider to lead with an online delivery model, Meazure Learning is transforming the testing and assessment landscape.

About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $5.0 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $500 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.

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EQT AB signs EUR 1 billion Revolving Credit Facility

eqt

On 21 December 2020, EQT AB (publ) signed a five-year EUR 1 billion revolving credit facility (the “RCF”), supported by a syndicate of global financial institutions.

The RCF will increase the financial flexibility of EQT and be used for corporate purposes, supporting the EQT AB Group’s growth initiatives and long-term strategy. The RCF will further incorporate a pricing mechanism linked to ESG-related objectives, lowering the interest rates if targets are met, and increasing them if targets are not achieved. It will thus be in line with EQT’s overall approach of integrating sustainability throughout its activities, both on EQT AB Group level and within funds advised by EQT. As announced earlier in 2020, EQT has launched ESG-linked bridge facilities both within the Private Capital and Infrastructure business lines, today totaling more than EUR 6 billion.

The RCF was arranged by Nordea and SEB (the “Bookrunners”). It attracted a strong level of interest during syndication and was significantly oversubscribed, displaying broad support for EQT’s strategy.

In addition to the Bookrunners, a total of 13 global financial institutions participated in the syndicate: Banco Santander, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Credit Suisse, Deutsche Bank, DNB, Goldman Sachs, ING Wholesale Banking, J.P. Morgan, Mizuho Bank, Morgan Stanley, National Westminster Bank and Swedbank joined as Mandated Lead Arrangers.

Contact
Kim Henriksson, CFO, +46 8 506 55 300
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently has more than EUR 46 billion in assets under management across 16 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 16 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

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Latour acquires Fristads AB, Kansas A/S, Kansas GmbH and Leijona Group Oy.

Latour logo

2020-12-11 08:45

Investment AB Latour has, through its fully owned subsidiary Hultafors Group AB, signed an agreement to acquire Fristads AB, Kansas A/S, Kansas GmbH and Leijona Group Oy from Fristads Kansas AB. The completion of the transaction is subject to regulatory approval and other customary closing conditions.

Fristads, Kansas and Leijona are leading brands in professional workwear for a variety of end-use segments and have strong footholds in their respective key markets Sweden, Denmark, Germany and Finland. Consolidated net sales is expected to amount to about 120 MEUR in 2020 and the companies together have more than 600 employees.

The acquisition is part of Hultafors Group’s strategy to grow and develop leading brands in the Personal Protection Equipment segment in Europe and North America.

“Hultafors Group’s acquisition of Fristads, Kansas and Leijona is aimed to drive customer value and we are very excited about the opportunities this combination creates. The brands will continue to operate separately, and in the long term we see opportunities to further strengthen our value proposition through synergies, primarily in warehouse management and supply chain”, says Camilla Monefeldt Kirstein, Executive Vice President at Business Unit Workwear within Hultafors Group.

“Fristads Kansas Group has in recent years made significant improvements with several important investments in product assortment, marketing and logistics/warehouse management. We are very proud of what we have achieved and we are now taking the next step to give all brands in our portfolio the best possible conditions to evolve. We are convinced that Hultafors Group will be an excellent new home for Fristads, Kansas and Leijona”, says Anders Davidsson, CEO of Fristads Kansas AB.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of September 2020, to around SEK 6.9 billion, all else equal.

Göteborg, December 11, 2020

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Camilla Monefeldt Kirstein, EVP Business Unit Workwear, Hultafors Group AB, +46 734 333 634
Jens Eriksson, Vice President, M&A and Business Development Hultafors Group AB, +46 702 114 601

Hultafors Group is one of Europe’s largest companies to supply workwear, footwear, head protection, hand tools and ladders for professional users. The products are developed, manufactured and marketed as their own brands, which are available through leading distributors in about 40 markets, with emphasis on Europe and North America. Hultafors Group has more than 1,000 employees and rolling net sales of almost SEK 3.5 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 66 billion. The wholly-owned industrial operations had an annual turnover of about SEK 15 billion in 2019.

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IK Investment Partners supports independent financial advisor Valoria Capital

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to invest in Valoria Capital (“Valoria” or “the Company”), a fast-growing acquisition platform of independent financial advisors. Financial terms of the transaction are not disclosed.

Founded in 2012 by serial financial services entrepreneur, Romain Lefèvre, Valoria serves several thousand customers offering a diversified range of saving products from a wide panel of leading asset managers and will manage over one billion Euros of assets under management by 2021.

Since its inception, the Company has exhibited tremendous growth, having successfully acquired and integrated 12smaller IFA boutiques since its founding and expanded its offering to incorporate complementary services including real estate, structure products, and corporate treasury optimisation.

IK will be supporting Romain Lefèvre in accelerating the group’s ambitious market consolidation and portfolio diversification strategy.

Romain Lefèvre, founder and CEO of Valoria, commented: “We’re delighted to welcome IK to support our fast-growing business operating in a market primed for consolidation. IK’s experience fostering operational excellence and ambitious M&A strategies make them the natural partner for Valoria in 2021 and beyond.”

Arnaud Bosc Partner at IK and advisor to the IK Small Cap II Fund, added: “Romain is a hands-on company founder with an exceptional achievement of success in the French IFA space. We’re thrilled to be supporting the next phase of Valoria’s growth by accelerating their buy-and-build strategy and their ongoing efforts to further diversify their offering and customer base.”

Pierre Gallix Partner at IK and advisor to the IK Small Cap II Fund, concluded: “We have been strongly impressed by Valoria’s track record over the past years and, we look forward working with Romain and his team onto the next growth chapter of the group.”

Parties involved with the transaction:

IK Investment Partners: Arnaud Bosc, Pierre Gallix, Morgane Bouhenic, Adrien Normand, Thierry Aoun, Pauline Lloret
M&A Advisor: Rothschild Transaction R (Philippe de Montreynaud)
Legal Advisor: Volt & Associés (Emmanuel Vergnaud, François-Joseph Brix, Alexandre Tron, François Jubin)
Financial / Legal / Tax / Social BDD: Grant Thornton (Emmanuel Riou, Valentin Noel, Alexis Martin, Stéphane Benezant, Caroline Luche-Rocchia, Cécile Didolot)
Financing: Idinvest Partners (Nicolas Nedelec, Olivier Sesboüé, Victoire Vanheuverswyn)
Management: Valoria (Romain Lefèvre)
M&A Advisor Seller: EY (Jean-Louis Duverney-Guichard, Alexandre Gebelin)
Legal Advisor Seller: Paul Hastings (Sebastien Crepy)
Legal Advisor Lenders: Willkie Far (Thomas Binet, Ralph Unger)
Financial VDD: EY (Marc-André Audisio, Emmanuel Villaire)

For further questions, please contact:

IK Investment Partners’ PR contact:

Maitland
James McFarlane
Phone: +44 (0)7584 142 665
jmcfarlane@maitland.co.uk

About Valoria Capital

Founded in 2012, Valoria Capital (“Valoria”) is a Paris-headquartered Independent Financial Advisor offering private clients, entrepreneurs, and their families, solutions to structure their wealth and manage their assets with complete objectivity. Valoria’s services are wholly tailored to the client and are entirely scalable. The company also provides complementary services encompassing real estate, credit, and tax advice. For more information, visit www.valoriacapital.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 €13 billion of capital and invested in over 140 European companies. IK funds support 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

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Gilde-buy-out-partners acquires Tonerpartner group from Invision and founding-family

Gilde Buy Out

December 21, 2020 Frankfurt am Main / Hattingen – Funds advised by Gilde Buy Out Partners (“Gilde”) are pleased to announce that Gilde reached a binding agreement to acquire TonerPartner from its current shareholders Invision and its founding family. The terms of the agreement have not been disclosed. The transaction is subject to customary merger clearance approvals.
Founded in 1993 and based in Hattingen, TonerPartner is one of Europe’s leading online retailers specialised in the marketing of ink, toner, and printer cartridges for a wide range of printers in 16 European countries. The company offers one of the broadest portfolios of original branded products, high quality white label and own branded compatible alternatives, as well as environmentally friendly recycled products. TonerPartner has a loyal and growing end customer base with more than 4 million B2B and B2C customers served in recent years.
Peter Kroha, Partner at Invision, commented on the transaction: “We want to thank everyone at TonerPartner for their partnership and trust since our initial investment in 2016. We are proud of what has been achieved by this highly dedicated team and are delighted to have been able to support the company in becoming the leader in the European printing consumables segment. We are very pleased with the progress the company has made under our ownership and wish the team every success going forward. We are confident that TonerPartner will continue to prosper under its new owner Gilde.” Andreas Klab, Partner at Gilde, added: “We are impressed with TonerPartner’s track record of consistent growth, entrepreneurial spirit as well as its ability to fundamentally understand and cater to the demands of its customers. Under the leadership of its founding family and with support from Invision, the company has achieved a leading position in Europe. TonerPartner is well placed to build on this solid foundation and remain the most reliable player of scale within the printing consumables segment. We are excited to support TonerPartner in this next phase of development and growth.”
The founder of TonerPartner and Julian Zweers, Managing Director of TonerPartner, said: “We are thankful and humbled by the development of TonerPartner since its foundation almost 30 years ago. We have not only experienced exciting years with strong growth but have also pioneered the online segment in printing consumables. First and foremost, we would like to express our gratitude to all the staff at TonerPartner for their continued contribution and commitment over many years. The partnership with Invision was an outstanding one, which enabled TonerPartner to expand to regions outside of Germany. We are convinced that the sale of TonerPartner to Gilde will allow the company to further strengthen its position in the European market for printing consumables.” Read more at: https://gilde.com/news/2020/gilde-buy-out-partners-acquires-tonerpartner-group-from-invision-and-founding-family

Categories: News