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Apax Funds to acquire majority stake in ADCO Group

Apax

Partnership to further strengthen ADCO’s product and service offering 

Ratingen / Germany and London / UK, August 5th, 2019: Funds advised by the global private equity advisory firm Apax Partners (the “Apax Funds”) have today announced an agreement to acquire a majority stake in ADCO Group, the global market leader in the mobile sanitary unit sector. The existing shareholders retain a significant stake. The transaction is expected to close in Q4 2019, subject to regulatory approvals.

Apax Funds to acquire majority stake in ADCO Group

Founded about 45 years ago in Germany, ADCO Group operates the DIXI® and TOI TOI® brands providing portable toilet and sanitation equipment rental and services worldwide. With 49 operating companies and more than 4,000 employees, ADCO is represented in 28 countries worldwide. The company achieved a group turnover of approx. €360 million in 2018.

Apax Partners is a leading global private equity advisory firm. The Apax Funds invest globally in companies across four sectors (Tech & Telco, Services, Healthcare and Consumer) providing long-term equity financing to build or strengthen market leaders. The Funds have a long and successful track record of partnering with route-based services businesses operating in Europe (e.g. SafetyKleen, Rhiag Group, Sulo), North America (e.g. Tosca Services) and globally (e.g. IFCO Systems, Garda World).

Apax will leverage this experience to support management with ADCO’s growth plans. This will include strengthening the company’s portfolio in existing markets, as well as identifying and realising new areas for development.

Renate Gerstenberg, CEO of ADCO Group, said: “We are very pleased to partner with Apax, who will support us alongside our existing shareholders in providing a long-term growth perspective for our company. This allows us to take the next step in developing our successful business model and investing even more in internationalisation and digitalisation. Together, we will lead ADCO into a prosperous future and continue to offer our customers innovative high-quality products and solutions, while also ensuring the company remains a great place to work for our employees.”

Frank Ehmer, Partner at Apax Partners, said: “ADCO is a great example of our strategy: backing successful, market-leading companies where our sub-sector insights, operating capabilities, and global platform can help them grow further. We are delighted to partner with the ADCO management team and its committed employees and look forward to supporting the company accelerate growth.”

Citigroup served as financial advisor to the shareholders of ADCO Group in the transaction. KWM Europe Rechtsanwaltsgesellschaft mbH supported the shareholders of ADCO Group as legal advisor, and Ernst & Young with due diligence. Houlihan Lokey provided financial advice to Apax Partners regarding the transaction and Kirkland & Ellis acted as Apax Partners’ legal counsel.

About ADCO Group

With group turnover of approx. €360 million and a worldwide presence, ADCO Umweltdienste Holding GmbH is a global leader in the mobile sanitary solutions sector. The TOI TOI® and DIXI® brands are managed by the ADCO Group. From the simple toilet cabin to the luxury container with its choice of furnishings, ADCO can offer tailored solutions to a variety of customers, covering everything from consultancy and planning to implementation and service, as well as professional and environmentally responsible disposal.

As an experienced full-service provider, the company is represented in Europe, as well as the Southeastern US and Southeast Asia with around 300,000 sanitary units. The DIXI® brand represents simplicity and practicality: the original all-purpose product. The TOI TOI® sanitary containers promise greater comfort, design and luxury.  Products range from the simple single toilet cabin to the urinal, and the VIP toilet wagon to the superior sanitary container.

ADCO consistently focuses on developing innovative products and services for its customers.  The Company is regularly innovating and improving its range of sanitary solutions in order to meet increasingly demanding customer requirements. Whether for private parties, events of all shapes and sizes, small building projects or large construction sites, the ADCO Group can always provide the right sanitary solution.

All TOI TOI & DIXI companies in Germany are state-certified waste-management companies and certified according to DIN EN ISO 9001.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

For media inquiries please contact:

For ADCO: Fuchs & Cie. GmbH

Felix Scholtysik
Partner
Phone: +49 69 1532405 52
Mobile: +49 173 4259257
Email: felix.scholtysik@fuchs-cie.de

For Apax Partners 

Global Media
Andrew Kenny
Apax Partners
Tel: +44 20 7 872 6371
Email: andrew.kenny@apax.com

US Media
Todd Fogarty
Kekst
Tel: +1 212-521 4854
Email: todd.fogarty@kekst.com

UK Media
James Madsen / Gina Bell
Greenbrook
Tel: +44 20 7952 2000
Email: apax@greenbrookpr.com

Notes to Editors:

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Altor divests Enhanced Drilling to Energy Ventures Private Equity

Altor

On July 15, the Altor 2003 Fund and Altor Fund II (jointly “Altor”) signed and closed the sale of Enhanced Drilling Holding AS (“Enhanced Drilling”) to Enhanced Well Technologies AS, a company owned and controlled by EV Private Equity and a major global oil company. EV Private Equity has been one of the most active investors in the oil and gas sector in recent years, and will together with its co-investor bring significant industry expertise and experience to the company, contributing to the growth and success of Enhanced Drilling. “We are happy that Enhanced Drilling’s leading technology has been recognized by the sector specialist EV Private Equity team and their co-investor, and we believe that the company has an exciting future ahead of it.” says Eivind Reiten, Chairman of Enhanced Drilling for multiple years and also an advisor to the Altor Funds. Altor initially invested in AGR, from which Enhanced Drilling was spun out, in 2004.

About Enhanced Drilling
Enhanced Drilling supplies innovative technical solutions and services to the global offshore industry. It has offices and facilities in Norway, Australia, Malaysia, Azerbaijan, Canada, the UK and the USA. For further information, please visit the Enhanced Drilling website at enhanced-drilling.com.

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

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Metalmark Capital Announces Sale of Collagen Matrix

New York, NY– Metalmark Capital (“Metalmark”), a leading private equity firm, announced that it has sold Collagen Matrix, Inc., (“Collagen Matrix”or the “Company”),a global developer and manufacturer of collagen and mineral-based medical devices. Financial terms of the transaction were not disclosed.

Founded in 1997and headquartered in New Jersey, Collagen Matrix is a leading developer and manufacturer of collagen and mineral-based products for tissue repair and regeneration. Leveraging strong product development and internal R&D capabilities, including two state-of-the-art manufacturing facilities, the Company has developed a propriety portfolio of collagen and non-collagen tissue engineering technologies that support the body’s natural ability to heal. Collagen Matrix’s products are suitable across a range of applications, including the growing device sectors of Dental, Neurosurgery, Orthopedics, Spine and Sports Medicine.

“We are proud to have partnered with the strong Collagen Matrix team during a time of considerable success for the Company,” said Howard Hoff en,Chairman and Chief Executive Officer of Metalmark. “Through numerous strategic investments since Metalmark’s investment in late 2014, Collagen Matrix has significantly strengthened its position in the marketplace. We are pleased to have supported Collagen Matrix’s sustained growth and wish the Company continued success as a trusted partner to medical device companies worldwide.

”“I’d like to thank the entire Metalmark team for their incredible collaboration,” said Bart Doedens, CEO of Collagen Matrix.“Under Metalmark’s stewardship, we have scaled our platform by expanding our product suite with innovative solutions spanning multiple clinical focus areas.Collagen Matrix is well positioned to further its proven track record as an innovation leader, delivering high-quality collagen and mineral based products for the diverse needs of our customers.”

Financial and Legal Advisors Robert W. Baird & Co.and Piper Jaffray & Co.acted as financial advisors and Ropes & Gray LLP acted as legal advisor to Collagen Matrix on the transaction.

About Metalmark Capital

Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders, and executives. The firm focuses its investment activity in healthcare, industrials and agribusiness. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments.

For more information: http://www.metalmarkcapital.com

About Collagen Matrix

Collagen Matrix, Inc., founded in 1997, delivers a full line of the highest-quality collagen and mineral based medical devices that support the body’s natural ability to regenerate. The Company currently manufactures finished medical devices in the areas of Dental, Spine, Orthopedic, Dural Repair and Nerve Repair Surgery. The evolution of the Company’s leadership, proprietary technologies, manufacturing expertise and product portfolio has established a solid foundation for continued growth. Opportunities continue to exist for collaboration through Product Distribution, Product Development and Contract Manufacturing.

More information about Collagen Matrix can be found at www.Collagen Matrix.com.

Media Contacts:

Sard Verbinnen & Co.

Warren Rizzi

Phone: +1 (212) 687-8080

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Gaw Capital and DJM Acquire Hollywood & Highland

Gaw Capital

LOS ANGELES, [August 5, 2019]  — DJM, a San Jose-based private equity real estate and development firm, and Gaw Capital USA, a Hong Kong and Los Angeles-based real estate private equity firm, announced ownership of Hollywood & Highland, one of the country’s busiest and most acclaimed shopping centers. DJM and Gaw Capital have acquired the 463,000 square foot shopping destination for an undisclosed amount. Natixis financing team led by Jerry Tang and Greg Murphy provided the financing package which included acquisition loan along with the future funding component.
Both DJM, a leading U.S. commercial real estate developer and asset manager with decades of experience in the Southern California market, and Gaw Capital, an industry leader globally known for adding strategic value to under-utilized real estate, have extensive experience specializing in the redevelopment and repositioning of iconic assets.
DJM and Gaw Capital formed a partnership playing to their respective strengths: Gaw Capital’s strength in capital markets and successful repositioning of assets around the world, and DJM’s deep understanding of the Los Angeles market, experiential retail and development. Advised by Eastdil Secured, Hollywood & Highland is the largest single-asset retail transaction to take place outside of Manhattan in nearly three years.
Together, the partners plan to reimagine the 7.6-acre site over the next 24 to 30 months. Built in 2001, the project sits at the crossroads of Hollywood Boulevard and Highland Avenue, and adjacent to the acclaimed TCL Chinese Theater. Drawn to this covetable location and high-traffic volume, the team will upgrade the retail hub and focus on rebranding, upgrading common areas with an eye to creating more desirable gathering and programming spaces, ramping up entertainment events, optimizing the merchandise mix and incorporating new concepts and uses that bring excitement to retailers, visitors and other tenants at the property.
“The retail landscape has shifted, consumer tastes have adapted, and ‘New Hollywood’ is constantly redefining itself,” said Stenn Parton, Chief Retail Officer at DJM. “With Hollywood & Highland, we at DJM and Gaw Capital are eager to seize the opportunity to create, in the heart of Los Angeles, an environment where the iconic allure of ‘Old Hollywood’ meets the modern innovation of new media.”
“Our opportunity as the new stewards is to make Hollywood & Highland a 21st century destination—one that offers visitors a piece of Hollywood that is grounded by the needs of the modern consumer,” Parton added. “A fresh design and rebrand bolstered by relevant global brands, top-of-the-line food and beverage experiences, and a state-of-the-art digital concept is merely the beginning of our plans.”
Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, was a pioneer in Hollywood with his purchase and redevelopment of the Hollywood Roosevelt Hotel in 1995, just one block away from Hollywood & Highland. About the acquisition, he said, “We are delighted to be partnering with DJM to acquire this iconic asset in Hollywood. Hollywood & Highland has enormous potential given its fantastic location at the gateway to new Hollywood. It is also next to Hollywood Roosevelt, our first refurbishment project that has long been recognized as an iconic, one-of-a-kind lifestyle hotel forged with distinction in Hollywood’s history. It marks an important milestone for Gaw Capital in the Los Angeles real estate market. We look forward to working with DJM to enhance the asset by leveraging the digital content revolution and innovative technology, to re-imagine this complex to become the new ‘town center for the Hollywood community’. We would also like to express our sincere gratitude to our co-investors for their tremendous support and trust us to make this transaction happen.”
Gaw Capital currently manages over US$23 billion in real estate assets globally as of 1Q19 (US$6.5 billion specifically in retail) and has invested and developed for over twenty years in unique Los Angeles assets, including the Bradbury Building, LA Football Club’s headquarter building, television and film studios, music venues, and restaurants such as Majordomo. According to Gaw Capital Managing Director Dan Lee, “Being based in LA, we’ve built amazing relationships with truly talented people, operators and companies that span various creative fields, whether it be in entertainment, food, arts or sports. We’re excited about pulling from those experiences and relationships to create something extraordinary at Hollywood & Highland. Much like how DJM has done at their properties and we have with ours, our partnership’s intent is to make Hollywood & Highland a destination where our visitors, including locals, feel they had a unique, exciting and fulfilling experience.”
Renovations are slated to begin in 2020, with completion expected in 2021.

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KKR to acquire majority stake in German fintech heidelpay from AnaCap

KKR

  • heidelpay is one of the fastest-growing full-service payment providers in Europe
  • Attractive industry fundamentals driving further growth
  • Can play a key role in consolidating the European payments market

LONDON & HEIDELBERG, Germany–(BUSINESS WIRE)–Aug. 4, 2019– heidelpay Group (“heidelpay”) and its majority shareholder AnaCap Financial Partners (“AnaCap”), a European financial services specialist investor, have today reached an agreement on the terms of an investment from KKR, a leading global investment firm. KKR will acquire a majority shareholding in the company, with Mirko Hüllemann, founder and CEO of heidelpay, and other key managers remaining as long-term shareholders.

Leading full-service payment provider

Founded in 2003, heidelpay is a leading full-service payment provider that offers a complete range of payment processing services to online and face-to-face merchants. heidelpay facilitates payment acceptance on behalf of merchants across various payment methods for e-commerce, m-commerce and at the physical point of sale. heidelpay currently serves more than 30,000 retailers and marketplace operators, focusing on SMEs and corporates.

The business operates in a European payments landscape underpinned by strong growth drivers, including an accelerating shift towards non-cash transactions and the continued growth of e-commerce.

Accelerating heidelpay’s growth journey

During AnaCap’s investment, heidelpay accelerated the development of its omni-channel platform, complete range of payment products, and proprietary technology. heidelpay can now play a key role in consolidating the fragmented European payments market. KKR is committed to supporting heidelpay in expanding its market share across the payments value chain, both organically and through strategic M&A, continuing the buy-and-build strategy initiated by AnaCap who completed seven bolt-ons. KKR will also support the company´s ambitious technology platform and product innovation roadmap.

Mirko Hüllemann, Founder and CEO of heidelpay, said: “We set out to become a market leader in omni-channel payment processing across the DACH region and with AnaCap’s powerful support we have reached our goal in a very short time frame. We are very excited to have attracted renowned global investor KKR to support us in the next stage of our growth journey. With its long-standing experience in financial services and technology, and its deep international network, we firmly believe that KKR will help us approaching larger customers and shaping the payment landscape globally. In my role as CEO and partner I’m looking forward to working with a fantastic management team in the next years.”

Daniel Knottenbelt, Member and Head of EMEA Financial Services at KKR, said: “We look forward to working together with Mirko and his highly experienced management team to help heidelpay continue to grow. We see enormous growth potential both organically and through M&A across Europe. We will draw on our deep sector knowledge, track record of working with founders, and our expertise through 20 years of investing in Germany to further shape heidelpay’s unique profile.”

Tassilo Arnhold, Managing Director at AnaCap, said: “heidelpay represents another successful digital value creation investment story for AnaCap. We wish Mirko and his team all the success for the next stage of their journey with KKR and we leave them in a far superior position to grow further in the DACH region and consolidate the European payments landscape.”

The offer is subject to approval by the German Federal Financial Supervisory Authority, the Commission de Surveillance du Secteur Financier (CSSF) and other customary closing conditions. It is expected to close in the first quarter of 2020. KKR will make this investment from its European Fund V. Financial details of the transaction were not disclosed.

About heidelpay Group

Based in Heidelberg, the heidelpay Group is one of the fastest-growing and most innovative fintech service providers in Germany. The international payment processing specialist uses its own specially developed solutions such as payment via invoice, instalment payment, direct debit, direct payment and prepayment – and those of leading providers of credit cards or wallet solutions. As a payment institute authorised by the German Financial Supervisory Authority (BaFin) and with over 16 years of experience in e-commerce and at the POS to its credit, the heidelpay Group allows companies of all sizes to effect worldwide payment transactions.

Founded in 2003, the full-service payment service provider covers the entire spectrum of electronic payment processing: from processing to acquiring, monitoring and risk management to receivables management. The fully scalable, modular solutions are used by 30,000 national and international customers. The various payment methods are provided for e-commerce, m-commerce and the stationary point of sale.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About AnaCap Financial Partners

AnaCap Financial Partners is a leading asset manager in the European financial services sector, investing across the vertical through complementary Private Equity and Credit strategies. Since 2005, AnaCap has raised €4.7bn in capital while the team has grown to more than 70 professionals across 6 offices including London, Luxembourg and New Delhi. Through its Private Equity and Credit strategies, AnaCap provides a complementary suite of solutions to sellers and management teams, supported by a deep track record of investing in financial services with over 70 primary investments completed across 15 jurisdictions. The AnaCap investment approach is supported by the firm’s proprietary digital platform, Minerva, which enables AnaCap to harness highly granular data and intelligence rapidly into actionable information.

Source: KKR

Media
Raphael Eisenmann
Hering Schuppener Consulting
Phone: +49 69 92 18 74-86
Mobile: +49 160 90 61 11 07
E-Mail: reisenmann@heringschuppener.com

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Ardian Private Debt provides financing to support Macquarie’s take-private of premier technical services group PLC (PTSG)

Ardian

London, August 2nd – Ardian, a world-leading private investment house, today announces the arrangement of a Unitranche Debt Facility to support Macquarie Principal Finance’s (Macquarie) take-private acquisition of PTSG, a market leading and previously UK AIM-listed B2B provider of safety-critical specialist testing, inspection, compliance and installation services.

PTSG has established itself as one of the UK’s leading providers of specialist health and safety testing services, including fire safety, lightning protection, electrical testing, façade access and fall arrest equipment services to a broad range of blue chip customers. Headquartered in West Yorkshire, England, PTSG employs around 1,200 people across 31 sites, servicing more than 180,000 buildings in the UK, across a wide range of industries.

Mark Brenke, Managing Director and Head of Ardian Private Debt, said: “We are delighted to be backing Macquarie and Management in leading PTSG through its next phase of growth. Management have a demonstrable record of delivering both organic and M&A-driven growth and we are looking forward to being part of the journey going forward. Ardian Private Debt’s involvement in this take-private deal highlights our track record of supporting resilient businesses and underlines our capabilities in executing complex, time and information-sensitive transactions, where significant trust is required between principals.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 610 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

LIST OF PARTIES INVOLVED

Ardian Private Debt: Mark Brenke, Raaj Rabheru, Saam Serajian-Esfahan

PRESS CONTACTS

ARDIAN
Headland
EMMA RUTTLE
Tel: +44 20 3805 4816
eruttle@headlandconsultancy.com

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Eurazeo to invest in supply chain software with acquisition of Elemica

Eurazeo

Eurazeo intends to accelerate Elemica’s expansion and growth strategy into new sectors and product offerings Paris, August 2nd, 2019 –Eurazeo, a leading global investment company listed in Pariswith €17.7billion in assets under management,has announced itsacquisition of Elemica, a leading cloud-enabled digital supply network. Eurazeowill support Elemica’s expansion and global growth strategy into new industry verticals, geographies and product offerings.

Elemica

Founded in 2000 by a group of the world’s leading industrial companies to provide visibility across the Global Process Industries whole supply chain, Elemica offers a suite of SaaS solutions that enables its customers to connect, automate, and have full end-to-end visibility into their supply chains. Elemica serves more than 450 customers worldwide, including 39 of the topglobal100 chemical companies. Half a trillion USD in goods are bought, sold and moved annually through the Elemica Digital Supply Network.

Marc Frappier, Managing Partner of Eurazeo Capital, said:”We are delighted to announce the acquisition of Elemica, which will join Eurazeo Capital’s U.S. investment portfolio alongside Trader Interactive and World Strides. Elemica is a key technology provider, operating at the heart of the global Process Industries supply chain. The company has meaningful growth potential and aligns in all respects with Eurazeo’s investment strategy. We are convinced that with our support, expertise and international network, Elemica will accelerate its development in new industries,geographiesand product offerings.”

John Blyzinskyj, CEO of Elemica added:“With Eurazeo’s partnership, we will be able to globally develop Elemica’s nearly 20-year vision of connecting the world’s leading process manufacturers to their direct material suppliers, logistics service providers, and customers. Our transatlantic operations andglobal ambitions make Elemica and Eurazeo very complementary partners and we look forward to achieving our growth strategy together.”

Elemica was acquired by Thoma Bravo, a leading private equity investment firm,in 2016. Eurazeo Capital will acquire full ownership of Elemica alongside its management team and will invest approx. $250 million(equity invested by Eurazeo and its affiliates), subject to various adjustments between now and the completion of the planned transaction. The transaction is expected to close in the third quarter of this year. Evercore served as strategic advisor to Eurazeo.

About Elemica

Elemicais the leading Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating, and then transforming inter-business supply chain processes for the products they buy, sell, move, and comply. Launched in 2000, customers process over $500B in commerce annually on the network. For more information, visit www.elemica.com.

About Eurazeo

Eurazeo is a leading global investment company, with a diversified portfolio of €17.7 billion in assets under management, including nearly €11.6 billion from third parties, invested in nearly400 companies. With its considerable Private Equity, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt and Madrid.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121 -Bloomberg: RF FP -Reuters: EURA.PA

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CVC Fund VII to invest in Multiversity, owner of Italian online university Pegaso

Founder Danilo Iervolino will retain a 50% stake in the company and continue as chairman and CEO

CVC Capital Partners (“CVC”) announces that CVC Fund VII has agreed to acquire 50% of Multiversity, the owner of Italy’s largest online university Universitá Telematica Pegaso (“Pegaso”), as well as Mercatorum University. Multiversity and Pegaso founder Danilo Iervolino will retain a 50% stake in the company and continue as chairman and CEO.

Founded in 2006, Pegaso is the largest online university in Italy, offering courses to c. 80,000 undergraduate and post-graduate students across more than 70 exam venues. Pegaso’s innovative online platform offers a range of programs for the underserved further education market, including bachelor and master degrees, post-graduate masters and single courses.

“We are delighted to have the opportunity for CVC Fund VII to invest in Pegaso. The online education sector is a rapidly growing global market that provides students the opportunity to pursue individual study paths and work training services. Many students do not have the opportunity to access further education via traditional routes so Pegaso is helping to meet an important and growing social need.” Explains Andrea Ferrante, Managing Director of CVC.

“The acquisition of Pegaso further strengthens CVC’s presence in Italy and in European higher education, following CVC Fund VII’s recent investment in Spain’s leading private university, Alfonso X el Sabio (“UAX”) of Villanueva de la Caada.

“We look forward to working closely with the team, to build on their achievements, to continue improving Pegaso and Mercatorum’s quality proposition and to accelerate the business’ investment plans.”

Danilo Iervolino, CEO and founder of Multiversity, comments: “We are very proud of the success achieved by Pegaso University so far. We believe that now is the time for us to partner with a high-profile international firm, to support our growth strategy for Italy and international markets. We believe that in CVC Capital Partners we have found the perfect partner to help us to deliver on our mission. There remain many untapped markets that we want to capitalise on and CVC’s sector expertise and global network will be invaluable to us as we enter our next phase of growth.”

CVC was assisted by Legance, Bain & Company, PwC Advisory and Facchini, Rossi e Michelutti.

Multiversity was supported by Studio Bifolco & Associati, EY Advisory – M&A and Gianni, Origoni, Grippo, Cappelli & Partners.

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KKR and Campbell Soup Company Sign Definitive Agreement for Sale of Arnott’s and Certain Campbell International Operations for $2.2 Billion

KKR

  • KKR to acquire portfolio that includes iconic Arnott’s biscuits and Campbell’s simple meals and snacking brands in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan, and manufacturing operations in Australia, Indonesia and Malaysia
  • Investment to transition certain Campbell International operations to a standalone company with access to significant capital and operational resources to support long-term growth and innovation

SYDNEY–(BUSINESS WIRE)–Aug. 2, 2019– Global investment firm KKR and Campbell Soup Company (“Campbell”) today announced the signing of a stock and asset purchase agreement under which KKR will acquire certain international operations from Campbell (“Campbell International”) for an enterprise value of approximately US$2.2 billion.

Campbell International is a high-quality business that includes snacking and meal brands in the Asia Pacific region with leading manufacturing capabilities and distribution channels in attractive core markets. The majority of Campbell International’s sales are generated by Arnott’s, the iconic Australian biscuit brand with over 150 years of heritage. Arnott’s commitment to quality, innovation and manufacturing excellence is a hallmark of the business, alongside its product range of household names including Tim Tam and Shapes. Campbell International also comprises the regional portfolio of Campbell brands spanning soup, stock, juice and ready meals in markets including Australia, New Zealand, Indonesia, Malaysia, Singapore, Hong Kong and Japan. KKR will also acquire Campbell International’s manufacturing operations in Australia, Indonesia and Malaysia.

Under the terms of the agreement, KKR and Campbell will enter into a long-term licensing arrangement for the exclusive rights to use certain Campbell brands, including Campbell’s, Swanson, V8, Prego, Chunky and Campbell’sReal Stock, in Australia, New Zealand, Malaysia and other select markets in Asia Pacific, Europe, the Middle East and Africa.

David Lang, Member at KKR, said, “Campbell International represents a unique portfolio of iconic brands that are known and loved by consumers in Australia and across the world. We are privileged and excited to have the opportunity to invest in and grow Arnott’s as an independent business in Australia, in addition to further developing Campbell’s trusted brands across the broader Asian market. This is a milestone investment for KKR, and we look forward to working closely with the Campbell International management team to seek out new and exciting opportunities.”

KKR is making its investment primarily through its Core Investments strategy, which represents capital targeting longer-term opportunities. The Transaction is expected to close within the next six months, subject to customary closing conditions. Further details of the transaction are not disclosed.

KKR was advised by Jefferies, as its financial advisor, and Simpson Thacher & Bartlett LLP and Allens, as its legal counsels.

About Campbell International

Campbell International’s operations include Campbell’s simple meals businesses in Australia, Malaysia, Hong Kong and Japan, and manufacturing in Australia, Indonesia and Malaysia. The centerpiece of the business is Arnott’s, which Campbell acquired in 1997, and is one of Australia’s most iconic brands. Arnott’s regional headquarters are based in Sydney with operations in Sydney, Brisbane, Adelaide and Indonesia. Arnott’s and Campbell International operations (excluding the Kelsen Group) had combined net sales of approximately $885 million in the latest 12 months and employ approximately 3,800 people.

About Campbell Soup Company

Campbell (NYSE:CPB) is driven and inspired by our Purpose, “Real food that matters for life’s moments.” For generations, people have trusted Campbell to provide authentic, flavorful and affordable snacks, soups and simple meals, and beverages. Founded in 1869, Campbell has a heritage of giving back and acting as a good steward of the planet’s natural resources. The company is a member of the Standard and Poor’s 500 and the Dow Jones Sustainability Indexes. For more information, visit www.campbellsoupcompany.com or follow company news on Twitter via @CampbellSoupCo.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media Contact:
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DIF Capital Partners acquires 203MW wind portfolio in the US

DIF

DIF Infrastructure Fund V (“DIF”) is pleased to announce financial close of the 100% acquisition of MIC Renewable Energy Holdings LLC’s indirect interest in two operating wind projects located in the United States with a gross capacity of 203MW.

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Idaho Wind Partners (Idaho) and Brahms Wind (New Mexico) have been operational since 2011 and 2014, respectively. Both projects have long-term power purchase agreements with investment grade off-takers. The projects will be operated and managed by Longroad Energy Services under asset management and operations & maintenance agreements.

This investment fits well within DIF’s mandate to acquire infrastructure and renewable energy assets and adds to DIF’s existing portfolio of renewable energy assets in the United States.

Paul Huebener, Partner and DIF’s Head of Americas added: “We are pleased to add these established wind projects to our portfolio of long-term, contracted assets. We believe the projects will provide attractive returns and stable cash flows to our investors.”

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 125 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Thijs Verburg, Director
Email: t.verburg@dif.eu

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