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Verdane invests in and merges HR Manager and Webcruiter

Verdane Capital

Verdane Edda has invested in HR Manager and Webcruiter, two leading suppliers of cloud-based HR and recruitment systems. The companies will be merged to create a leading Nordic platform for talent recruitment and development.

Once defined as the attraction of top talent, HR and recruitment have since developed into an integral part of corporate strategy that, in addition, encompasses talent management and development. As a result, the choice of HR software has come to be of critical importance.

HR Manager and Webcruiter hold individually strong positions in the market for cloud-based HR and recruitment systems. Webcruiter offers a specialized system for talent agents and leaders on the hunt for professional recruitment solutions. With more than 400 clients with users in over 120 markets, Webcruiter’s recruitment system handles over 1.9 million applications annually. The firm holds a leading position in the Norwegian market, particularly in the public sector, and is an active player in the Swedish market.

HR Manager has over 900 clients with users in more than 50 countries, and processes more than 3.5 million applications annually. The company’s integrated cloud-based platform for recruitment, employee introduction and talent development has established a strong market position in the Nordics.

Together, HR Manager and Webcruiter will form a company with Nordic growth ambitions, through both organic and add-on acquisitions, working to develop and broaden the available offering of cloud-based products and services for talent recruitment and development.

“HR Manager and Webcruiter’s combined competence, technology and solutions will bring forth promising new opportunities for both existing and new clients. We look forward to developing and establishing a leading Nordic platform together with Webcruiter,” says Lars Christian Ringdal, CEO at HR Manager.

Fredrik Mælum, CEO of Webcruiter, agrees. “We are a stellar fit across technology, client roster and culture. By coming together as one company we will be able to develop cloud-based solutions that support our clients’ strategic needs and operative work within recruitment, onboarding, talent development and HR leadership,” he says.

The Nordic market for HR software is valued at closer to NOK 5 billion, and faces significant changes in the years ahead. The market for cloud-based solutions is expected to grow at 10 to 20% per year until 2020, with far higher market penetration in the Nordics than in the rest of Europe and the US.

“HR Manager and Webcruiter both offer solid solutions and have very competent teams. This fusion will spark the development of even better products available to a greater number of clients across the Nordic market. We are pleased to contribute with our expertise, network and experience,” says Bjarne Lie, Managing Partner at Verdane Capital Advisors.

Verdane Edda will be the majority owner of the fused entity, which joins a Verdane roster of over 170 software and consumer internet investments made over the last 14 years. Expected revenue for HR Manager and Webcruiter stands at 55 and 49 million NOK, respectively, in 2018.

The parties have agreed not to disclose the terms of the transaction.

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DCI Group, in which Naxicap Partners has held a majority interest since 2016, continues its growth strategy by acquiring Retis

Naxicap

After buying hosted (i.e. cloud) services operator Lhexian in November 2017, DCI now announces the acquisition
of Retis, making it a major name in France’s digital services market with revenue over €90m.
DCI, a leading firm in IT integration and digital services providing infrastructure and cybersecurity solutions, announces its acquisition of Retis, a specialist in the digital workplace, IT infrastructure, cybersecurity and cabling.

This latest acquisition is being carried out with the help of a single-tranche loan from Idinvest Partners.
First established in 1993 and based in Montauban (Brittany), Retis has seen steep growth in recent years and is now a
recognised expert in cybersecurity and unified communications. The company has a diversified customer base across the French market, served by its network of 6 branch offices in Rennes, Paris, Lyon, Toulouse, Quimper and Nantes.
The new combined group becomes an outfit of critical size in digital services with more than 360 employees and a portfolio of over 1,000 active customers in both the public sector (universities, education, research, local authorities, healthcare, etc.) and the private sector (industry, finance and insurance, services, new tech, the press, etc.). It will continue its expansion by building on the many dovetailing aspects between DCI and Retis in terms of their technology portfolios, technical skills, types of customer, and geographical locations.

“This acquisition is consistent with DCI’s accelerated growth trajectory that we have been following since 2016 with our majority shareholder. These two companies, with the same market positioning, support and guide their customers throughout the value chain for digital transformation projects (feasibility, integration and post-implementation). By combining their talents and expertise, we aim to create a leading group in digital services on the French market,” says Fabrice Tusseau, President of DCI.
“After studying a number of options, I reached the conclusion I needed to sell the firm I started 25 years ago to another company in the market with a compatible business to dovetail with that of Retis, with similar values, able to ensure the long-term future of the work achieved in the interests of Retis’ employees and customers,” says Joël Cheritel, President and founder, Retis.

“This acquisition reflects a desire from management at both DCI and Naxicap Partners to actively pursue a strategy of
targeted acquisitions in IT consultancy and services, where the market is still fragmented and growth prospects high. We are particularly pleased with this acquisition which will help us expand our geographic coverage and strengthen the group’stechnological expertise, both of which make us stand out to clients.” Laurent Chouteau, Head of Investment at NAXICAP Partners.

Participants in the transaction:
DCI: Fabrice Tusseau, Nicolas Servage, Olivier Signoret
Naxicap Partners: Laurent Chouteau, Simon Ricque
DCI Corporate Investment Lawyer: Agilys (Baptiste Bellone, David Kalfon, Carolle Thain-Navarro, Madalina Suru,
Chloé Journel)
Financial DD: Exelmans (Stéphane Dahan, Manuel Manas, Amaury de Loisy, Chenwei Xu)
Single-tranche Debt: Idinvest Partners (Nicolas Nedelec, Emmanuelle Tanguy)
Bank debt Lawyers: Nabarro & Hinge (Jonathan Nabarro, Magali Béraud)

About Naxicap Partners:
One of France’s leading private equity companies, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €3.2 billion of capital under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The company has almost 35 investment professionals in five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt. For more information, please visit www.naxicap.fr

About Natixis Investment Managers*
Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered
by the expertise of 27 specialized investment managers globally, we apply Active ThinkingSM to deliver proactive
solutions that help clients pursue better outcomes in all markets. Natixis ranks among the world’s largest asset
management firms1 with more than $1 trillion assets under management2 (€861 billion AUM). Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a
subsidiary of BPCE, the second-largest banking group in France. For additional information, please visit the company’s website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers. Natixis Investment Managers includes all of the investment management and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A. Natixis Distribution, L.P. is a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by affiliates of Natixis Investment Managers.

Provided by Natixis Investment Managers UK Limited which is authorised and regulated by the UK Financial Conduct
Authority (register no. 190258).
Registered Office: Natixis Investment Managers UK Limited, One Carter Lane, London, EC4V 5ER.
1 Cerulli Quantitative Update: Global Markets 2017 ranked Natixis Investment Managers (formerly Natixis Global Asset Management) as the 15th largest asset manager in the world based on assets under management as of December 31, 2016. 2Net asset value as at September 30 2018, Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets and other
types of non-regulatory AUM.

About DCI:
DCI has been a leading provider of digital services to private-sector businesses and public-sector organisations for more than 25 years. A recognised expert in infrastructure solutions (networks and mobility, data centres, unified
communications) and cybersecurity, DCI offers a unique value proposition in both cloud and on-premises modes. Driven by a culture focused on performance, technological innovation and customer satisfaction, DCI supports and guides 1,000 business customers throughout their solutions’ lifecycle, with audit, consultancy, project-mode integration, MCO and managed services. With 190 employees across France, DCI supports its customers’ operations 24/7, and home and abroad.

About Retis:
Retis, the IT services and consultancy specialist, delivers day-to-day support to organisations undertaking workplace digital transformation projects and in IT infrastructure management and security. Retis positions itself as a cybersecurity expert and has certified specialists to address organisations’ security issues in a comprehensive manner. From briefings and preliminary consultancy to the operational phase, Retis adopts a proactive approach and endeavours to deliver its customers expert services and advice to improve efficiency and performance. Retis is an independent firm currently employing 170 people, with offices across France, including in Nantes, Lyon, Paris, Quimper, Rennes and Toulouse. The preferred partner for the largest construction and publishing companies, Retis is well-established in a diverse ecosystem, and also has close links with the education sector. Retis’ wide-ranging customer base spans both the private and public sectors. Retis has been ISO 27001 certified since 2015.

About Idinvest Partners
With nearly €9 billion under management, Idinvest Partners is a recognised mid-market private equity firm in Europe.
Idinvest Partners has developed several additional areas of expertise, including: growth capital for young, innovative
European companies; mid-market private debt (single tranche, senior and subordinated loans); primary and secondary investments in unlisted European companies; and private equity consultancy. Founded in 1997, Idinvest Partners was a subsidiary of Allianz until 2010, when it became independent.

Press Contact:
Naxicap Partners
Valérie Sammut – Tel: +33 (0)4 72 10 87 99
valerie.sammut@naxicap.fr

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Ramudden acquires ViaSafe Sweden

Triton

Stockholm (Sweden), December 17 2018 – Ramudden AB (Ramudden), a Triton IV company, has acquired ViaSafe Sweden AB (ViaSafe) from construction company NCC AB (NCC).

ViaSafe manages road safety solutions in nine Swedish cities and has an annual turnover of approximately 100 million SEK with 60 employees. Further to the acquisition, Ramudden also signs a framework agreement to provide services to NCC.

Ramudden is a leading specialist provider of work zone safety control services for road, construction and general industry purposes active in Sweden, Norway, Finland and Estonia. In Sweden, Ramudden offers products and services to ensure road, construction site and industrial safety with offices in 55 locations across the country.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

 

Press Contact:

Triton
Fredrik Hazén
Phone:  +46 709 483 810

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Investor comments on ABB

Investor

Investor comments on ABB

2018-12-17 07:25 GMT+01

  • After successful transformation, now right time to divest Power Grids
  • Supports the board’s decision on new simplified organization

As announced today, ABB will divest the majority of its Power Grids division to Hitachi Ltd. As ABB’s largest shareholder, Investor fully supports this transaction.

“As a long-term, engaged owner, we focus on what we believe is best for each individual company, supporting them to become and stay best-in-class. This includes continuously evaluating, and if needed, adapting the corporate structure.

We have supported the ABB board and management’s decision, and execution, on its strategic direction, not the least the transformation of Power Grids. Over the past years, the division’s performance has improved in terms of higher quality, higher margins as well as reduced project risks, creating long-term value. We fully support the board’s decision on the next step. The divestiture of Power Grids to Hitachi is industrially logical, takes place at the appropriate time and allows ABB to focus on its automation and electrification businesses”, comments Johan Forssell, President and CEO of Investor.

In addition, ABB today also announced a new organizational structure.

“We fully support the organizational changes announced today. We are confident that simplification and decentralization, with a high degree of delegation of responsibility and accountability, are necessary steps to further improve ABB’s performance.
Having strengthened our ownership position over the past few years, we will continue to work actively to support ABB in its long-term value creation”, says Johan Forssell.

Investor is ABB’s largest owner, holding 10.7 percent of the capital and votes.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability: +46 8 614 2058, +46 70 550 3500

Magnus Dalhammar, Head of Investor Relations: +46 8 614 2130, +46 73 524 2130

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based international companies. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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EQT Real Estate expands French portfolio with office acquisition in Paris for EUR 42 million

eqt

  • The transaction represents EQT Real Estate’s fourth acquisition in Paris – a 9,050 square metre vacant office property for a price of EUR 42 million
  • The property is located on rue Mozart in Clichy Saint-Ouen, North Paris, less than 200 metres away from a new Metro station due to open in 2020
  • The investment represents the EQT Real Estate I fund’s ninth investment to date

The EQT Real Estate I fund (or “EQT Real Estate”) continues to invest in established European office markets and today announces the acquisition of a vacant office property located in Clichy Saint-Ouen, North Paris. The property was acquired from a French pension fund advised by investment manager AEW.

Clichy Saint-Ouen is a mature sub-market in Paris with strong transport links. It will be further improved by the extension of Metro line 14 in 2020, which will place it just three stops from Paris’ Central Business District. The asset, built in 2001, comprises 9,050 square metres of office and storage space, and 199 parking spaces. The property is fully vacant and has been recently stripped out. The acquisition aligns with the firm’s strategy to focus on gateway cities with strong demographics driving sustainable GDP and office-based employment growth.

Olivier Astruc, Managing Director at EQT Partners and Investment Advisor to EQT Real Estate I, says: “This investment in Clichy, North Paris, further demonstrates the strategy to create modern offices suited to occupiers’ needs for affordable and accessible grade A office space. EQT Real Estate has now completed four transactions in Paris, building a portfolio exceeding 60,000 square metres and EUR 500 million in gross development value. We continue to see strong demand from institutional investors, and EQT Real Estate’s strategy will allow us to continue to unlock value in key European sub-markets.”

During the acquisition process, EQT Real Estate I was advised by Savills, George V Notaires, De Pardieu Brocas Maffei, JLL Project & Development Services and Beadmans. Funds managed by ACOFI Gestion financed the acquisition, advised by Etude Panhard and Allen & Overy. The vendor was advised by Prud’homme & Baum and investment manager AEW.

Contacts
Olivier Astruc, Managing Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5426
EQT Real Estate I, +44 207 430 5555
EQT Press Office +46 8 506 553 34

About EQT
EQT is a leading investment firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
The EQT Real Estate I fund will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 30 million and EUR 65 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT Industrial Network, including 10 European offices and more than 500 core Industrial Advisors.

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Priveq – new growth partner of Metenova

Priveq

Metenova, a MedTech company delivering products and solutions for the pharmaceutical and biotech production of aseptic and sterile products, has chosen to incorporate Priveq Investment (“Priveq”) as a new growth partner for the future. Founder, CEO and Management will continue to be a part of the ownership group to a large proportion.

Metenova was founded ten years ago, consisting of a management and founders with over four decades of experience within product design and development of mixer solutions for aseptic and sterile pharmaceutical production. The customer base is mainly leading pharmaceutical companies and biological drug producing companies. The portfolio consists of mixers adapted to different types of applications based on the company’s patented technologies. Metenova operates globally with sales in more than 30 countries, mainly through a distributor network with headquarters in Mölndal, in the south of Sweden and a subsidiary in New Jersey, USA.

With an increasing proportion of biological pharmaceuticals, a large proportion of traditional pharmaceuticals such as block busters, as well as high growth in the Chinese market as a result of a shift to defined pharmaceuticals, there is a high underlying growth for products and knowledge from Metenova. New potent pharmaceuticals and personalized pharmaceuticals also give increased interest in new products within Metenova’s focus area. Through the partnership with Priveq, good conditions are created for taking advantage of the opportunities that can arise in the market as well as continued growth and development of the company.

”We are impressed by how Metenova has managed to establish itself as a technology leader in a relatively short period of time with a strong offering and a unique position in the market. We know the founders and management since we owned the company NovAseptic together and therefore have great respect for the knowledge that exists and being built in Metenova. We are looking forward to working with the owners and management of Metenova and actively supporting the company in the future.” says Louise Nilsson, CEO and partner at Priveq.

”We are very happy to bring Priveq in as growth partner in Metenova. Priveq has a broad experience from 125 growth companies and we are convinced that Priveq will help us take the next step in our development. In addition, we have previously worked together with Priveq and therefore we look forward to a new journey together with confidence.” says Johan Westman, CEO at Metenova.

“With Priveq as a strong owner, we see great opportunities to continue our planned growth. This gives us a good position to realize the opportunities we see in the market and to carry through the ventures we want in order to reach maximum potential.” says Lennart Myhrberg, one of the founders of Metenova.

 For more information, please contact:

Louise Nilsson, CEO and partner, Priveq Investment
Tel: +46 (0)709 50 95 50
louise.nilsson@priveq.se

Johan Westman, CEO Metenova
Tel: +46 (0)706 02 41 21
johan.westman@metenova.com

 

About Metenova

Metenova is a global supplier of critical products and solutions for production of aseptic and sterile pharmaceuticals. The company has a long experience of product development, manufacturing and sales within this area with high regulatory requirements. Metenova operates globally with leading companies within pharmaceutical and biotech industries mainly through a distributor network. The headquarters are located in Mölndal, in the south of Sweden and there is also a subsidiary in New Jersey, USA.

More information is available at www.metenova.com

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For further information, please contact

Louise Nilsson medarbetare

Louise Nilsson

Partner & CEO
Phone: +46 8 459 67 63
Mobile: +46 70 950 95 50

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Priveq Investment

P.O. Box 5295
SE-102 46 Stockholm
Visit us at
Humlegårdsgatan 20
Phone: +46 8 459 67 60
Fax: +46 8 20 35 66
E-mail: info@priveq.se

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Verdane portfolio company Bellman Group AB acquires Samgräv Holding AB

Verdane Capital

Bellman Group AB (publ) (the ‘’Company’’ or ‘’Bellman Group’’) has entered into an agreement regarding acquisition of the machine contracting company Samgräv Holding AB (‘’Samgräv’’).

On 13 December 2018, Bellman Group entered into an agreement with the owner of Samgräv regarding acquisition of all shares in the company and indirectly its subsidiaries. The initial purchase price for the acquisition amounts to SEK 144.0 million and will consist of a cash payment in the amount of SEK 100.0 million and newly issued shares in Bellman Group valued at SEK 44.0 million, after the new issue resulting in an ownership for Samgräv’s owner in Bellman Group of approximately 6.8 %. In addition, an additional purchase price may be payable, depending on the development of Samgräv’s EBITDA during the period and each of the years 2019 through 2022. Payment of any additional purchase price (if any) for each respective year is expected to be made during the second or third quarter of the following year. The total aggregated additional purchase price may amount to a maximum of SEK 96.5 million.

Samgräv is a company focused on contracting and leasing of construction machinery, trucks, crane trucks, tractors, rollers, machine operators and constructors. Samgräv is a strong player in the market of western Sweden by having its own inert landfills, recycling facilities and rock quarries, as well as transport and machinery contracting. The combination of own facilities as well as transport and machinery contracting entails an important competitive advantage in order to create cost effective and environmentally friendly transports for customers. For the financial year 2017/18, Samgräv’s sales amounted to SEK 221 million and the adjusted EBITDA for the same period amounted to SEK 31 million. The group’s sales for the financial year 2017, calculated pro forma including Samgräv’s sales for the financial year 2017/18, amounted to SEK 1,606 million and EBITDA for the same period, calculated pro forma including Samgräv, amounted to SEK 188 million.1

Through the acquisition, Bellman Group strengthens its position within inert landfills and broadens its operations to western Sweden. This will significantly positively affect the possibility for other companies within Bellman Group to increase (numerically and in size) their businesses in the Gothenburg area.

“It is very fun and exciting that Samgräv now becomes a part of Bellman Group. Through the acquisition of Samgräv, Bellman Group obtains a strong position also in western Sweden. This acquisition is very much in line with Bellman Group’s business and strategic plan; to develop its operations in Gothenburg as well as within inert landfills and recycling facilities. We see good opportunities to continue to create value in the new group, as all subsidiaries report a strong profit development”, says Håkan Lind, CEO of Bellman Group.

The intention is that Samgräv will continue to operate as a separate business following the acquisition.

“Samgräv has had a short-term plan to take a strong position in Västra Götaland and a long-term plan to expand in Stockholm and Malmö. We have had an ambition to enter into a broader context that gives us ability to act and new collaborations. During the process, we have always cared for our customers, suppliers and staff and kept them in mind in order to make Samgräv the number one choice in the contracting branch. In the Bellman Group, we have found common values and thoughts about the future. I am very pleased that this is now becoming reality and I really look forward to jointly create a strong group within the Bellman Group”, says Roger Hansson, owner of Samgräv.

Bellman Group intends to finance the acquisition primarily by issuance of new bonds under the Company’s existing bond loan. The Company will provide further information in relation to this by way of a separate press release if/when such issuance of new bonds has taken place.

The acquisition is conditional upon that Bellman Group obtains required financing and that the Swedish Competition Authority approves the transaction. Closing of the transaction is expected to take place during the first quarter of 2019.

For additional information, please contact:
Håkan Lind, CEO, Bellman Group, +46 (0) 70 669 80 28, hakan@bellmans.se

Roger Axelsson, CFO and Head of Communications, Bellman Group, +46 (0) 70 874 50 41, roger@bellmans.se

Roger Hansson, CEO, Samgräv, +46 (0) 70 677 65 53, roger@samgrav.se

About this information: 
This information is information that Bellman Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the Company’s CEO, at 12.00 CET on 13 December 2018.

About Bellman Group 
Bellman Group AB is comprised of Bellmans Åkeri & Entreprenad AB and Grundab Entreprenader i Stockholm AB, who are haulage contractors, as well as of Modern Sprängteknik i Norden AB with the subsidiaries Uppländska Bergkrossnings AB, Uppländska Bergborrnings AB and Sprängarbeten i Trönödal AB, who undertake blasting operations, and VSM Entreprenad AB with its subsidiaries VSM AS, Munthers Specialtransporter AB and VSM Rental AB, which are machine contracting companies. The group’s sales for the financial year 2017, calculated pro forma including VSM, amounted to SEK 1,385 million and the adjusted EBITDA for the same period, calculated pro forma including VSM, amounted to SEK 157 million. The group has approximately 360 employees and 500 subcontractors.

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Peter Hofvenstam appointed new CEO of Nordstjernan

Nordstjernan

The Board of Directors of Nordstjernan AB has appointed Peter Hofvenstam as the new CEO. Peter Hofvenstam is currently Deputy CEO and head of the Unlisted Holdings business area, which represents approximately half of Nordstjernan’s operations. He was born in 1965, has an MSc Economics, and has held various positions at Nordstjernan since 1999. He is a board member of Rosti and Swedol, as well as the chairman of Nordstjernan Kredit. Tomas Billing will continue as CEO until the transition, which will take place at the Annual General Meeting in May 2019.

“Taking Nordstjernan forward will be an exciting challenge. I look forward to work closely with our professional team to further reinforce our model of active long-term ownership in order to develop our companies and to create good returns,” says Peter Hofvenstam.

“As the chairman of Nordstjernan, it is a pleasure to present a strong internal successor to Tomas Billing. Peter has a genuine understanding of long-term value creation. He is responsible for Nordstjernan’s Unlisted Holdings, a business area that has developed very well through both growth in profits and sound business transactions. I look forward to working with Peter in his new role,” says Viveca Ax:son Johnson.

Outgoing CEO Tomas Billing will continue to work at Nordstjernan after the transition, in a role as senior advisor. He will work on nomination committees and boards in Nordstjernan’s holdings.

“I would like to thank Tomas Billing, who has been CEO for a full 20 years. When he started, Nordstjernan’s net asset value was SEK 2.7 billion, and we had one investment – NCC. Today, our net asset value is SEK 30 billion and we have 15 active investments. Two unlisted companies – Rosti and Etac – currently comprise Nordstjernan’s largest holdings. That is quite an achievement,” says Viveca Ax:son Johnson.
Questions will be answered by:

Viveca Ax:son Johnson
Chairman of Nordstjernan AB
Telephone: +46 8 788 50 18
E-mail: vaj@nordstjernan.se

Stefan Stern
Senior advisor, responsible for communications, Nordstjernan AB
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se
Nordstjernan AB is a family-controlled investment company whose business concept is to be an active owner that creates long-term and positive value growth. More information about Nordstjernan can be found on www.nordstjernan.se.

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L Brands announces sales agreement for La Senza

Regent

Columbus, Ohio (Dec. 13, 2018) — L Brands, Inc. (NYSE: LB) today announced that following its previously announced comprehensive review process, it has signed a definitive agreement to transfer ownership and operating control of La Senza – inclusive of the home office organization, North American stores and e-commerce and international partnerships – to an affiliate of Regent LP, a global private equity firm.  The company will sell 100 percent of its assets in La Senza in exchange for the buyer’s agreement to assume La Senza’s operating liabilities and provide L Brands potential future consideration upon the sale or other monetization of La Senza, as defined in the agreement.  The company expects to complete the transaction and transfer ownership in early January.

Operating results for La Senza are included in the company’s Other segment for financial reporting. The company estimates that La Senza’s 2018 revenues and operating loss will be approximately $250 million and $40 million (approximately $0.12 per share), respectively.

L Brands was advised on the sale by Financo.

 

ABOUT L BRANDS:

L Brands, through Victoria’s Secret, PINK, Bath & Body Works, La Senza and Henri Bendel, is an international company.  The company operates 3,115 company-owned specialty stores in the United States, Canada, the United Kingdom and Greater China, and its brands are sold in more than 800 additional franchised locations worldwide.  The company’s products are also available online at www.VictoriasSecret.com, www.BathandBodyWorks.com, www.HenriBendel.com and www.LaSenza.com.

 

ABOUT REGENT:

Regent is a global private equity firm focused on innovating and transforming businesses. The firm’s mission is to create long-term value for its partners, the companies it invests in and the communities in which it works. Regent’s investments span the globe and operate in a wide array of industry verticals including technology, media, consumer products, industrial, retail and entertainment.

Selected investments include Sassoon, Sunset Magazine, Lillian Vernon and a media portfolio comprised of 18 newspapers, magazines and television platforms including Military Times, Army Times, Navy Times, Defense News, PBS TV’s Defense News Weekly, Federal Times and the HistoryNet Magazines. Regent is based in Beverly Hills, California.

For more information, please visit www.regentlp.com.

For further information, please contact:

Regent LP:
Media Relations
Graydon Sheinberg
(310) 299-4108
gs@regentlp.com

L Brands:
Investor Relations
Amie Preston
(614) 415-6704
apreston@lb.com

Media Relations
Tammy Roberts Myers
(614) 415-7072
communications@lb.com

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Silver Lake to Acquire Majority Stake in ServiceMax from GE Digital

Silverlake

Strategic partnership to accelerate growth of leading provider of Field Service Management software
GE to continue as minority investor

SAN RAMON, CALIF. & MENLO PARK, CALIF. – DECEMBER 13, 2018 – GE Digital (NYSE: GE) and Silver Lake announced today an agreement for GE Digital to sell a majority stake in ServiceMax, a leading provider of cloud-based software productivity tools for field service technicians, to Silver Lake, the global leader in technology investing. Under the agreement, GE will retain a 10% equity ownership in ServiceMax. Since GE Digital acquired the company in 2016, ServiceMax has continued to invest in its technology and delivered growth that has outpaced the market over the past two years. ServiceMax and GE Digital have also entered into a reseller agreement to ensure ongoing collaboration to serve their joint customers, including GE’s industrial business units, and plan to continue to deeply integrate their technology offerings.

In collaboration with Silver Lake, ServiceMax will enjoy increased agility to accelerate its growth initiatives, pursue new strategic partnerships and execute a dedicated Field Service Management agenda. ServiceMax offers cloud software tools that improve the productivity of complex service and equipment-centric business operations for over 400 corporate customers across dozens of industries. As a separate company, ServiceMax will have the strategic focus required to penetrate the vast $34 billion global Field Service Management software market opportunity. The majority of the approximately 39 million field technicians globally who install, maintain and repair machines do not currently have access to any Field Service Management software such as ServiceMax.

“ServiceMax has a strong foundation of customers inside and outside the GE customer base,” said Scott Berg, CEO, ServiceMax. “In Silver Lake, we have found a partner with a technology growth mindset and unique expertise in separating companies into standalone businesses. Joining the Silver Lake family will provide the investment we need in continued technology development and market expansion in areas where we have seen significant traction, such as medical devices, construction and manufacturing industries. The new company structure gives us both the flexibility to provide solutions to all industrial manufacturers and the strategic backing of GE to continue to pursue the industrial asset operator markets.”

“Field Service Management is a core element in the digital transformation of industrial operations, and ServiceMax’s innovative platform provides field technicians with next-generation, business-critical software and technology,” said Kenneth Hao, Managing Partner and Managing Director of Silver Lake. “We look forward to working with ServiceMax and GE to bring ServiceMax’s technology to a broader customer base, increase investments in product development and help the company achieve its long-term potential.”

As part of GE Digital, ServiceMax accelerated market reach into new regions, expanded its Field Service Management capabilities and introduced its offerings to new industries. With this new relationship, GE Digital and ServiceMax will continue to work together to provide solutions that help companies transform how they operate and manage their industrial assets across the entire asset lifecycle. The two
companies will continue to advance the integration between GE Digital’s Predix Asset Performance Management suite and ServiceMax’s field service management solution – arming customers with a complete solution for proactive and predictive maintenance.

For almost 20 years Silver Lake has invested behind enterprise technology leaders in partnership with management. ServiceMax joins current and prior Silver Lake portfolio companies such as Broadcom (then Avago Technologies), Cast & Crew, the Dell Technologies family of businesses (including Pivotal, SecureWorks and VMware), GoDaddy, NXP, Red Ventures, Skype, SolarWinds and Unity.
The transaction is expected to close in early 2019. Financial terms of the deal were not disclosed.
Morgan Stanley & Co. LLC served as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Silver Lake.

About GE Digital
GE Digital is reimagining how industrials build, operate and service their assets, unlocking machine data to turn valuable insights into powerful business outcomes. GE Digital’s Predix portfolio – including the leading Asset Performance Management and Field Service Management applications, as well as Predix Private Cloud – helps its customers manage the entire asset lifecycle. Underpinned by Predix, the leading application development platform for the Industrial Internet, GE Digital enables industrial businesses to operate faster, smarter and more efficiently, wherever their operations require. For more information, visit www.ge.com/digital.

About Silver Lake
Silver Lake is the global leader in technology investing, with about $45.5 billion in combined assets under management and committed capital and a team of approximately 100 investment and value creation professionals located in Silicon Valley, New York, London and Hong Kong. Silver Lake’s portfolio of investments collectively generates more than $225 billion of revenue annually and employs more than 390,000 people globally. The Silver Lake portfolio includes leading technology and technology-enabled businesses such as Alibaba Group, Ancestry, Broadcom Limited, Cast & Crew, Ctrip, Dell Technologies, Endeavor, Fanatics, Global Blue, GoDaddy, Motorola Solutions, Red Ventures, Sabre, SoFi, SolarWinds, Symantec, Unity, Weld North Education and WP Engine. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.

Media Contacts
For GE Digital:
Amy Sarosiek
925-968-7871
amy.sarosiek@ge.com
For Silver Lake:
Patricia Graue
212-333-3810
silverlake@brunswickgroup.com

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