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CapMan Real Estate invests in second Polaris Business Park asset in Leppävaara, Greater Helsinki

CapMan Real Estate press release
20 December 2019 at 12.00 p.m. EET

CapMan Real Estate invests in second Polaris Business Park asset in Leppävaara, Greater Helsinki

CapMan Nordic Real Estate II fund acquires Polaris Capella, an office building in Leppävaara, Greater Helsinki. The acquisition is the fund’s second asset in Polaris Business Park following the acquisition of the Polaris Castor building earlier in 2019. The fund now owns two out of three office buildings in Polaris Business Park.

Polaris Capella is an approx. 6,000 sqm asset built in 2009 and located in Leppävaara, one of the main office sub-markets in Greater Helsinki. The property is part of the Polaris Business Park and it is conveniently located by the Turunväylä motorway, 1.5km from the Leppävaara train station, 20 minutes from Helsinki-Vantaa airport and 25 minutes from the Helsinki CBD.

“Polaris Capella is an excellent addition to the fund enabling us to create even more value in the entire Polaris Business Park,” comments Juhani Erke, Partner and Head of CapMan Real Estate Finland.

Polaris Capella is the seventeenth acquisition of the €425 million CapMan Nordic Real Estate II fund, which invests mainly in office, residential and retail properties located in established submarkets of major Nordic cities and selectively in real estate sectors supported by prevailing megatrends.

CapMan Real Estate’s Nordic organisation includes more than 40 committed real estate investment professionals. We manage over €2.5 billion in real estate investments.

For more information, please contact:
Juhani Erke, Partner, Head of CapMan Real Estate Finland, tel. +358 50 549 5104

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. Visit www.capman.com for more information.

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Tikehau Capital signs an agreement for the acquisition of Acek Energias Renovables’ biomass activities

Tikehau

Madrid, 20 December 2019 – Tikehau Capital, through its private equity fund dedicated to energy transition, has signed an agreement to invest in the biomass assets of Acek Energias Renovables.
The transaction, representing an enterprise value of €81m (in addition to earn-outs), is the first investment of Tikehau Capital’s private equity funds in Spain and aims at creating a leading pan-European integrated bioenergy player.
Acek Energias Renovables established in 2009 its biomass division, which is a vertically integrated platform focused on the engineering, construction, operation and maintenance of biomass energy plants (power, heat or combined heat and power), as well as the supply of biomass.

The transaction includes the 17MW biomass plant in Garray (Soria), several long-term operation and maintenance contracts in Spain and Portugal, as well as its industry-leading engineering business in Puerto de Santa Maria (Cadiz).
The acquired business employs over 120 people and generated a turnover of €64m in 2018.
Tikehau Capital seeks to accelerate the company’s growth, developing a robust pipeline of opportunities to create a leading bioenergy player focused on regulated and non-regulated markets. The company will continue to be led by Mr. Emilio López Carmona, who created and led the expansion of the biomass business of Acek Energias Renovables since 2009 and before that, Valoriza Energia.
This acquisition is made through Tikehau Capital’s Energy Transition Fund, a pan-European private equity fund focused on the development, transformation and international expansion of medium-sized energy transition companies across three verticals: Clean Energy Value Chain, Low Carbon Mobility and Energy Efficiency, Storage and Digitalisation.

Tikehau Capital’s first private equity deal in Spain
The acquisition is the first Private Equity transaction made by Tikehau Capital in Spain, representing a significant milestone and demonstrating its commitment to invest in this asset class in the region.
Emilio López Carmona, Head of the biomass division of Acek Energias Renovables said: “We share values and commitment with Tikehau Capital to face the challenge of a carbon neutral and sustainable economy. It is a very important step that will release the potential of our organization to provide integrated solutions in the bioenergy and circular economy sectors in Europe”.

Emmanuel Laillier, Head of Private Equity at Tikehau Capital, said: “We are delighted to invest in the biomass assets of Acek Energias Renovables. It is crucial that companies which can have a direct impact on the environment today have the necessary means to grow. Equity investment, which Tikehau Capital provides, is an effective way to support energy transition actors unlocking entire value chains by giving them the means to develop solutions to drive the decarbonisation of the energy sector”.
Carmen Alonso, Head of Iberia at Tikehau Capital, said: “We are pleased to invest in an integrated platform in the biomass sector in Spain and Portugal. The company enters a new phase supported by Tikehau Capital. Alongside its management team, we aim at creating a leading integrated bioenergy player”.

About Tikehau Capital:
Tikehau Capital is an asset management and investment group with €24.3bn of assets under management (as at 30 September 2019) and shareholders’ equity of €3.1bn (as at 30 June 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 500 staff (as at 30 September 2019) in its Paris, London, Amsterdam, Brussels, Luxembourg, Madrid, Milan, New York, Seoul, Singapore and Tokyo offices.
Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)
www.tikehaucapital.com

Press Contacts:
Tikehau Capital: Julien Sanson +44 20 3821 1001
Finsbury: Arnaud Salla & Charles O’Brien +44 207 251 3801
press@tikehaucapital.com
Shareholders and Investors Contact:
Louis Igonet – +33 1 40 06 11 11
shareholders@tikehaucapital.com

Disclaimer
This transaction was carried out by TIKEHAU INVESTMENT MANAGEMENT SAS (on behalf of the funds that it manages), a portfolio management company approved by the AMF since 19/01/2007 under number GP-0700000006.
This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.
Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.

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EQT to sell Clinical Innovations

eqt

  • EQT Mid Market US and EQT Mid Market Asia III to sell Clinical Innovations, a leading global provider of medical devices for Labor & Delivery and Neonatal Intensive Care, to LABORIE for an Enterprise Value of USD 525m
  • During EQT’s ownership, Clinical Innovations has successfully transitioned from a distributor sales model to a direct sales force in select key markets, broadened its product portfolio in the Neonatal Intensive Care segment through product acquisitions and established a foothold in China

The EQT Mid Market US fund and the EQT Mid Market Asia III fund (jointly “EQT”) have entered into an agreement to sell Clinical Innovations (the “Company”) to LABORIE Medical Technologies (“LABORIE”) for an Enterprise Value of USD 525m. The EQT Mid Market US fund is the majority owner of Clinical Innovations.

Founded in 1993 and headquartered in Salt Lake City, Utah, Clinical Innovations is a leading global provider of medical devices for Labor & Delivery and Neonatal Intensive Care. The Company’s products, which include the Kiwi® Vacuum-Assisted Delivery System, Koala® Intrauterine Pressure Catheter and ebb® Complete Tamponade System, are used by clinicians in more than 90 countries to improve the lives of mothers and babies. Clinical Innovations also added SweetUms sucrose solution and the BoogieBaby oral and nasal suction device to its growing NICU product lineup earlier in December this year. Clinical Innovations operates a manufacturing facility in Utah and has approximately 250 employees around the world.

Together with the management team, EQT has supported Clinical Innovations in successfully transitioning from a distributor sales model to a direct sales force in select key markets, including parts of the United States, Western Europe and Australia. During EQT’s ownership, the Company has also successfully established a foothold in China and broadened its product portfolio within Neonatal Intensive Care.

“With the support of EQT, Clinical Innovations has significantly grown its global footprint and strengthened its product offering,” said Ken Reali, President and CEO of Clinical Innovations. “We look forward to continuing our growth journey with LABORIE and are confident that, together with our new partners, we will be well positioned to further positively impact mothers, babies and healthcare professionals on a large scale.”

“Clinical Innovations and the global network of clinicians who rely on its devices every day are crucial contributors to the health of mothers and babies,” said Brendan Scollans, Partner at EQT Partners and Investment Advisor to EQT Mid Market US. “We have been proud to support the development and growth of the company in partnership with the management team and look forward to following its continued success.”

“During EQT’s ownership, Clinical Innovations has strengthened its direct local presence in China, positioning the Company to capture future growth in one of the most promising markets,” said Jerry He, Partner at EQT Partners and Investment Advisor to EQT Mid Market Asia III. “LABORIE is a strong strategic fit for Clinical Innovations and we are confident that they will be an excellent partner for the Company.”

The transaction is subject to customary approvals and is expected to close in early 2020.

Moelis & Company LLC acted as financial advisor and Simpson Thacher & Bartlett LLP acted as legal advisor to EQT and Clinical Innovations.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About Clinical Innovations
Founded in 1993, Clinical Innovations is one of the largest medical device companies exclusively focused on labor and delivery and neonatal intensive care. The company is a market-leader in several categories with products such as the Kiwi® Vacuum-Assisted Delivery System, SweetUms sucrose solution, BoogieBaby oral and nasal suction device, Koala® Intrauterine Pressure Catheter, ROM Plus® Rupture of Membranes Test, traxi® Panniculus Retractor, ClearView® Uterine Manipulator, ebb® Complete Tamponade System and the babyLance™ Safety heel stick. Clinical Innovations is expanding its global presence while directly researching and developing state-of-the-art technologies and innovative medical devices that fulfill its mission of improving the lives of mothers and their babies throughout the world. For more information, visit clinicalinnovations.com.

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J.D. Power acquires Trilogy Automotive

Thomas Bravo

Integration of Enterprise Lead Management Technology Adds Additional Capabilities to J.D. Power’s Autodata Solutions Division to Scale Digital OEM Offerings

TROY, Mich.: 20 Dec. 2019 — J.D. Power, a global leader in data analytics and consumer intelligence, today announced the acquisition of Trilogy Automotive, the automotive software division of Trilogy Enterprises. Trilogy’s SaaS-based enterprise lead management platform will be integrated into J.D. Power’s Autodata Solutions division’s original equipment manufacturer (OEM) digital dealer platform, expanding the capabilities and reach of its existing offering to better enable manufacturers and dealers to optimize retail lead management programs.

Trilogy Automotive provides enterprise level, SaaS-based automotive lead and digital management platforms, enabling OEMs and dealers to maximize the efficiency and effectiveness of their digital marketing spend. The platform improves coordination between OEMs, dealers and third parties, while generating real-time insights on consumer behavior.

“Trilogy Automotive has built one of the industry’s most powerful solutions for identifying high quality leads from the vast number of automobile shoppers, all while maintaining a seamless customer experience, continuity with OEM guidelines, and real-time insights for dealers and OEMs,” said Craig Jennings, President of the Autodata Solutions division at J.D. Power. “By integrating Trilogy’s capabilities with our existing OEM digital dealer platform, we will be able to create a robust suite of digital marketing platforms providing lead management, lead generation and digital management services to OEMs, Dealer Service Providers and Retailers.”

“I’m thrilled to lead the Trilogy Automotive team into our new partnership with J.D. Power and the Autodata team,” said Kim Irwin, President of Trilogy Automotive. “The Trilogy Automotive story is one of amazing growth, having expanded rapidly from a core group of employees who built the initial framework for our platform to become a leading technology company that supports some of the most prestigious brands in the automotive industry. I speak on behalf of the whole Trilogy Automotive team when I express how excited we are as we look forward to our next phase of accelerated growth.”

The Trilogy acquisition follows closely on the heels of J.D. Power’s merger with Autodata Solutions to create a market-leading provider of new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry. Trilogy Automotive will be integrated into the newly combined company’s Autodata Solutions division.

Trilogy Automotive senior leadership and employees will continue with the firm and will be integrated into J.D. Power’s Autodata Solutions division.

J.D. Power was advised by Atlas Technology Group and the law firm Kirkland & Ellis on the transaction. Trilogy Automotive was advised by Portico Capital, Ron Frey, and the law firms Jones & Spross and Cooley.

About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Troy, Mich.

About Trilogy Automotive
For over two decades, Trilogy has been revolutionizing the automotive industry through a combination of relentless innovation and a commitment to customer success. Trilogy Automotive’s patented technology solutions range from custom and client driven to turnkey configuration, design and lead management systems, and have powered leading automotive companies such as Ford, GM, Nissan, Chrysler, Toyota, Hyundai, Kia, Volvo, Jaguar and AutoNation.

Media Relations Contacts
Geno Effler
J.D. Power
Costa Mesa, Calif.
714-621-6224
media.relations@jdpa.com

Shane Smith
PCG (East Coast)
424-903-3665
ssmith@pacificcommunicationsgroup.com

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Sovereign takes private leading European IP services provider Murgitroyd in a £65m deal

Sovereign Capital

Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce that it has ‘taken private’ from AIM, Murgitroyd Group PLC, in a £65m transaction.

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Sovereign is backing the management team led by Edward Murgitroyd, CEO, to support the continued development of the Group and deliver greater global presence through a strategy of Buy & Build.

Murgitroyd is a leading European provider of IP services. The Group delivers patent and trade mark legal advice together with a breadth of IP support services to meet the IP needs of its international client base.

Established in 1975 and headquartered in Glasgow, Murgitroyd operates from a network of offices in countries including the UK, US, Germany, France, Ireland, Finland and Central America, and employs a team of over 300. The business offers a rare proposition in the IP market by providing an integrated attorney led offering and associated IP support services capability.

As well as backing Murgitroyd to develop its global presence through Buy & Build, Sovereign will also be supporting the business to further develop its tech-enabled platform and support service offerings.

Jonathan Thorne, Director, Sovereign Capital Partners commented: “Murgitroyd is a very successful business, providing the highest quality of services to its clients and operating in a global market where the levels of outsourcing for both corporates and SMEs continues to increase alongside the complexity of multi-jurisdictional IP activities. We are delighted to have the opportunity to work with the management team to build upon the Group’s service offering and geographic reach.”

Edward Murgitroyd, CEO, Murgitroyd Group PLC: “I am very proud of how the Group has grown both organically and through strategic acquisition since my father established the business from a single office in Glasgow over 40 years ago. We have continued to thrive over the years and today Murgitroyd is a global business providing clients with an attractive combination of complex attorney work together with a highly efficient IP support services offering. We are very excited about the opportunity to further develop the Group with Sovereign’s investment and partnership.”

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MAPAL and Flow Hospitality Announce Combination

Providence

MAPAL and Flow Hospitality Announce Combination to Create a Leading Pan-European Provider of Technology Solutions for the Hospitality Sector

MADRID AND EDINBURGH – 20 December 2019 – MAPAL Software (“MAPAL”), a developer and supplier of workforce management, business analytics and back-of-house software for the hospitality sector, and Flow Hospitality Training (“Flow”), a learning management system for the hospitality sector, today announced a combination to create a leading provider of technology solutions for the European hospitality sector. MAPAL is backed by Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners. Jorge Lurueña, Founder and CEO of MAPAL, will lead the combined entity with the support of the existing management teams of MAPAL and Flow. Ruth and David Wither, Founders of Flow, will step down from their day to day leadership responsibilities – but have reinvested in the combined entity, with David remaining as a Non-Executive Director.

“Today’s announcement is a testament of the hard work and commitment of the entire team at Flow since we launched over 10 years ago,” said David Wither, Co-Founder of Flow. “Together we have built an outstanding business that innovatively solves a major challenge faced by the industry: a need for relevant technology that accelerates employee training and development. We are confident that this combination with MAPAL – supported by the team at PSG – will enable the business to make an even greater impact going forward and Ruth and I have decided that now is the right time to transition the stewardship of Flow to new investors. We are excited for what the future holds – and we believe that Jorge, with the support of our current management team, is the ideal leader to help Flow and MAPAL transition to this next chapter.”

Flow delivers a suite of online training modules to over 400,000 unique users through FlowZone Manager – its flagship management system that allows employers to issue training, track results, plan and manage learning and development, competencies and appraisals. The benefits of this combination between two highly complementary businesses are significant. MAPAL’s advanced and user-friendly workforce management, analytics and back-of-house solution – and Flow’s learning and development solutions – will create a business that can offer stronger technical capabilities and a more robust end-to-end service to hospitality companies throughout Europe.

Jorge Lurueña, Founder and CEO of MAPAL, said: “We believe this alliance will create more opportunities for Flow and MAPAL. Ruth and David have built a tremendous business – offering a complete solution that brings real benefit to its loyal client base – and we are grateful for the trust they have placed in us. I look forward to working with my new colleagues and am thrilled to be leading this next phase of growth.”

Edward Hughes, Managing Director of PSG, said: “MAPAL and Flow are already established providers of tech-enabled solutions for a variety of global companies in the hospitality sector and we are confident that together they will create a significantly scaled-up business with a larger suite of capabilities and reach to provide essential solutions to customers.”

EY’s UK Corporate Finance team was sole financial adviser to the shareholders of Flow, and originated the transaction.

About MAPAL Software
MAPAL was founded in 2008 by Jorge Lurueña, an experienced restaurant operator, who recognised that restaurant businesses needed specialist tools to automate and optimise management processes. Bringing together industry experts, data scientists and software developers to create GIRnet, the management and business intelligence platform that key players in the sector use today, has driven MAPAL’s success. MAPAL boasts a large portfolio of clients operating well-known brands such as La Tagliatella, Burger King, Starbucks, KFC, Taco Bell, Pizza Hut, Grupo Areas or Five Guys, among others.

About Flow Hospitality Training
Founded in 2009 by David and Ruth Wither and based in Edinburgh, Scotland, Flow is a learning management system for the hospitality sector staffed by a team of over 55 people. Flow’s flagship FlowZone Manager platform enables employers to have direct and immediate visibility to all stages of employee development. FlowZone Manager can be integrated to employers’ HR and payroll systems – especially Fourth, Selima, S4 Labour, CoreHR, and TimeTarget – and is relied upon by leading hospitality brands, including Soho House, Firmdale Hotels, and Gleneagles.

About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, with offices in London. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.

Media Contacts

Flow Hospitality Training
Exchange Tower, Edinburgh
+34 917681560
enquiries@flowhospitalitytraining.co.uk

MAPAL Software
C/ Arte 21 – 28033 Madrid
+34 917681560
admin@mapalsoftware.com

Providence Strategic Growth
Sard Verbinnen & Co
Conrad Harrington/ Giles Bethule
+44 207 4671 050
Prov-SVC@SARDVERB.com

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KKR Sells European Locomotive Leasing to AXA Investment Managers – Real Assets and Crédit Agricole Assurances

KKR

Leading European leasing provider for rail transport co-founded and built by KKR’s Infrastructure platform

LONDON–(BUSINESS WIRE)–Dec. 20, 2019– KKR, a leading global investment firm, announces today the signing of a definitive agreement under which a consortium formed by AXA Investment Managers – Real Assets, acting on behalf of its clients (“AXA IM – Real Assets”) and Crédit Agricole Assurances will acquire European Locomotive Leasing (“ELL”), a leading pan-European provider of electric locomotive leasing solutions.

ELL was established in early 2014 by founder and CEO Christoph Katzensteiner together with KKR’s first Infrastructure fund, KKR Global Infrastructure Investors. The investment rationale was to meet the significant and unfulfilled market demand for modern, versatile electric locomotives, thereby supporting the broad political agenda to shift freight transportation from road to rail – a more economic and ecological transportation method – as well as to facilitate liberalization and competition in the rail market by offering leasing solutions to market players. Since its inception, the company has thrived and significantly exceeded initial expectations. While the initial business plan foresaw the purchase of a fleet of 50 locomotives, the company has after five years of operations built a fleet of over 150 locomotives that are leased on long-term contracts to over 20 customers across Continental Europe.

During that period, KKR has provided consistent support to the ELL team including through its dedicated Capital Markets team, which has led several rounds of financing for the company, each time expanding and enhancing the initial financing package put in place at inception of the company in 2014. The investment demonstrates KKR’s unique proposition in the infrastructure space, bringing experience of over four decades of building and improving businesses to the infrastructure sector, with a particular focus on businesses that have a strong ESG impact.

Vincent Policard, Member at KKR in European Infrastructure, said: “Having been there from day one, we are especially proud of what we have been able to create over the last five years together with Christoph and his incredible team. We have no doubt the future of ELL is bright and we will continue to cheer for the company from the sidelines.”

Christoph Katzensteiner, founder, CEO and minority shareholder in ELL, said: “I would like to thank KKR for having believed in us from the beginning and having enabled me and my team to turn the vision we had for ELL into a successful reality. I also want to welcome AXA IM – Real Assets and Crédit Agricole Assurances as our new partners, who will provide significant further resources to bring our company to the next level.”

The investment in ELL was made through KKR Global Infrastructure Investors, KKR’s maiden vehicle in the infrastructure space raised in 2011/2012. KKR has been active in the infrastructure space for a decade and currently has around $20bn AUM. The global infrastructure platform has completed over 30 investments in that period, half of those in Europe, across the energy & utility, transportation and telecom sectors. The team is currently investing KKR Global Infrastructure Investors III, a USD 7.4bn vehicle raised in 2018, and has been active in Europe this year with transactions including the acquisition of a majority stake in Hyperoptic, a leading UK fiber broadband provider.

Crédit Agricole CIB acted as financial advisor to KKR Infrastructure; Vinson & Elkins and K&L Gates served as legal counsels on the transaction.

For more information:

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
International
Alastair Elwen
Finsbury
Alastair.elwen@finsbury.com
+44 20 7251 3801

Germany
Raphael Eisenmann / Stephanie Lorbach
Hering Schuppener
+49 69 92 18 74-86 / Phone: +49 69 92 18 74-24
reisenmann@heringschuppener.com / slorbach@heringschuppener.com

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Absorb Software Acquires ePath Learning, 3rdAcquisition in 2019Latest Deal Advances Global Leadership Position for Absorb in Fast-Growing LMS Market

Calgary, Alberta, Canada(December 20, 2019) –Absorb Software, provider of the Absorb Learning Management System (LMS) and the newly introduced Absorb Infuse, today announced the acquisition of ePath Learning, a leading cloud-based learning technology company in Connecticut. This marks the third acquisition of the year for Absorb, as the company continues its aggressive growth strategy into 2020. “Our mission has been clear since the beginning –to establish Absorb as the global leader in LMS and deliver significant value to our customers. Acquiring ePath Learning provides a tremendous opportunity to accelerate this vision, and represents yet another exciting opportunity to expand our footprint in the fast-growing LMS industry,” said Absorb CEO Mike Owens. “This is a great strategic fit for ePath Learning.After two decades of success, the Absorb dealenables us to continue delivering on our promise to provideworld-class learning management technology to customers,” said Dudley Molina, President and CEO of ePath Learning.The ePath Learning acquisition follows the August 2019 purchase of eLogic Learning. Absorb also purchased Utah-based SaaS LMS provider Torch LMSlast May. The company now serves more than 1,100 active customers with 255 employees across eight international offices.Business momentum has been validated by a series of recent industry accolades and award wins. Absorb was listed on Training Industry’s 2019 Top 20 Learning Portal/LMS Companies. In addition, the company received the highest overall rating in Gartner Peer Insights’“Voice of the Customer”: Corporate Learning Reportthis fall. Most recently, Absorb won a highly-coveted Brandon Hall Group Silver Award for Best Advance in Learning Management Technology, and was recognized with a prestigious Editors’ Choice Award byPCMag. Absorb is a portfolio company of Silversmith Capital Partners. Choate Hall & Stewart served as legal counsel to Absorb Software.

About Absorb Software

Absorb Software is a learning technology company based in Calgary, Alberta Canada, with global offices in London, Dublin, Shanghai, Sydney, Boston, Tampa and Salt Lake City. Absorb offers both Absorb Infuse, the first Learning Experience Platform (LXP) to offer a true in-the-flow learning experience, and its flagship product, Absorb LMS, an industry-leading and award-winning Learning Management System for businesses, higher education, government and non-profit agencies around the world.

Learn more at www.absorblms.com, or follow the company on LinkedIn, Facebook, or Twitter.About Silversmith Capital PartnersFounded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions,

Digital Map Products, Impact, LifeStance Health, MediQuant, Nordic Consulting Partners, and Validity. The partners have over six decadesof collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, Wrike and Yapstone. For more information, visit www.silversmithcapital.com.

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EQT Real Estate sells TechnologiePark office portfolio in Cologne, Germany

eqt

  • EQT Real Estate completes its first exit from Germany – a 116,500 sqm, seven building, multi-let office portfolio, with 97 percent occupancy, located in close proximity to Cologne’s central business district
  • During its three-year ownership period, EQT Real Estate completed a number of value-creation strategies including an update of the physical structure of the buildings, an improvement of the tenant experience and a stabilization of the income profile by proactively engaging in lease renewals and extensions

EQT Real Estate fund I (“EQT Real Estate”) today announced that it has disposed of its 100 percent ownership interest in the TechnologiePark portfolio in Cologne, Germany (“TPK”) to TPG Real Estate Partners.

TPK contains seven high-quality assets located in the Ehrenfeld district of Cologne, comprised of six Grade A office properties spanning approximately 81,500 sqm and the Mercedes-Benz Centre, a regional car showroom hub and a full service-center spanning approximately 35,000 sqm. TPK serves a prominent group of tenants with long-term rental agreements including Daimler AG, Ford Motor Company as well as the German Government. The office park is located near TechnologiePark station which provides a direct, 10-minute rail link to Cologne Central Station.

After acquiring the portfolio out of insolvency at a substantial discount to replacement cost in late 2016, EQT Real Estate implemented a robust set of value creation initiatives through a multi-pronged, hands-on asset management plan including implementing accretive lease renewals, completing physical improvements of the buildings and streamlining the operational management of the portfolio. In addition, important sustainability measures were taken into consideration in all maintenance and capital expenditure programs as well as including “green lease” clauses when re-gearing tenants, both of which are consistent with EQT Real Estate’s thematic approach to sustainable investing.

EQT Real Estate believes that its business plan objectives were met and is confident that TPG Real Estate Partners will be able to navigate the portfolio through its next phase of growth, especially as the Cologne real estate market continues to remain supply constrained.

Rob Rackind, Partner at EQT Partners and Investment Advisor to EQT Real Estate, said: “TPK is a perfect example of how the integrated pan-European advisory team supported value creation through complex and intensive asset management workstreams and successfully sold this high-quality asset into Germany’s deep institutional market. This realization, together with the exit of Code, a 5,800 sqm office redevelopment in Paris earlier this year, confirms that EQT Real Estate´s thematic investment approach, which includes investing in gateway cities across Europe, is generating attractive risk adjusted returns for our investors.”

EQT Real Estate has been advised by Ashurst, Colliers International and RheinReal.

The transaction closed on 19 December 2019. Terms of the transaction were not disclosed.

Contact
Rob Rackind, Partner at EQT Partners, Investment Advisor to EQT Real Estate, +44 208 432 54 07
EQT Press Office, press@eqtpartners.com +46 8 506 55 334

About EQT
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TPG Real Estate (“TPGRE”) is the real estate platform of TPG, a leading global alternative asset firm with more than $111 billion of assets under management and 17 offices around the world. TPGRE includes TPG Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform. TREP focuses primarily on investments in real estate-rich companies, property portfolios, and select single assets located in North America and Europe. TRTX originates and acquires senior real estate loans across a broad spectrum of asset classes in North America. TPGRE currently manages approximately $11.9 billion in assets across both platforms.

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Glovo grabs €150M SERIES E led by Mubadala for its ‘Deliver Everything’ APP

Seayaventures

The Spanish on-demand delivery start-up reaches unicorn status after securing €150M in Series E funding, led by Mubadala.

The latest round of investment sees Glovo consolidate its position in the market and cement its status as a global leader in the on-demand delivery sector, as it moves towards profitability.

Barcelona, 20 December 2019 — Glovo, one of the world’s fastest-growing on-demand delivery players, announced €150 million ($167 million) in Series E funding. The latest round of investment is being led by Mubadala, with further support from previous investors Drake Enterprises, Idinvest and Lakestar.

Following the close of its most recent investment round, the company has secured its status as a unicorn, making it only the second privately held business in Spain to surpass a $1 billion valuation.

The Barcelona based start-up — which delivers everything from food to groceries and pharmaceutical items —  has consolidated its position within its markets, which include Europe, Latin America and Africa. It is among the top two delivery players in 24 of the 26 countries in which it operates and has consolidated itself as a global leader in the on-demand delivery sector.

Fuelling technology talent across European tech hubs 

As Glovo scales globally, it is committed to taking its engineering capabilities and technology systems to the next level. The company recently entered the Polish market, acquiring Pizza Portal in a €35 million deal and investing in a second technology hub in Warsaw. It plans to expand its global tech team by hiring 300 additional engineers by mid-2020, with 40 dedicated engineers and 50 tech and product experts to be based in its new Warsaw office.

By channelling the new investment towards the expansion of its tech team, the start-up will continue to strengthen its tech offering by further streamlining its user experience, reducing the waiting time for couriers and customers, and opening new dark stores and cook rooms.

More focus on groceries and partnerships with leading retailers

Glovo will continue to innovate in the delivery sector and build out its multi-category offerings, delivering beverages, pharmaceutical products and other everyday items. To spur on the growth of its groceries category, Glovo will continue to seek strategic partnerships, similar to its deal with Carrefour, and invest in its own dark supermarkets.

The company currently operates seven dark stores in Europe and Latin America — with locations in Barcelona, Madrid, Buenos Aires and Lima — and plans to open 100 by 2021.

Oscar Pierre, Co-founder and CEO of Glovo, said: “We’re very pleased to welcome Mubadala as an investor, as well as to further strengthen our position within the industry.

“To have achieved unicorn status is something truly exciting and a testament to the talent within the company, and its determination to keep innovating and disrupting the on-demand delivery space. Despite our rapid growth and new status, we still have the same vision we’ve always had: to make everything within the city instantly available to our customers.”

Frederic Lardieg, Partner in the Ventures Europe team at Mubadala Capital, said: “In June 2018, Mubadala launched a €400 million fund to invest in leading European technology companies like Glovo. Our investment is a testament to our commitment to the European tech market and we are excited to lead this Series E funding round to enable Glovo to grow its team and support the expansion of its offering.”

About Glovo 
Glovo is an app that allows you to buy, collect and send any product within the same city in under an hour. It has more than 1.8 million active users monthly and 25,000 associated partners. Glovo operates in 288 cities across 26 countries, including EMEA, LATAM, and most recently in Sub-Saharan Africa. Glovo currently employs over 1,500 people globally, with 600+ in the Barcelona HQ, and over 50,000 active Glovers make money from the platform.

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for its shareholder, the Government of Abu Dhabi.

Mubadala’s US $229 billion portfolio spans five continents with interests in multiple sectors including aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings across all asset classes. Mubadala has offices in Rio de Janeiro, Moscow, New York and San Francisco, with a joint venture in Hong Kong.

Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to world-class standards of governance.

About Seaya Ventures
Based in Madrid, Seaya Ventures has been backing the best entrepreneurs and teams from Spain and Latin America since 2013. Seaya focuses on supporting founders in scaling their businesses enabling them to become global leaders.

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