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Eurazeo Patrimoine supports C2S GROUP’S expansion with the acquisition of four new clinics

Eurazeo

Paris, 12 October 2020
Eurazeo Patrimoine, the Eurazeo division specialising in real estate and in companies operating their own real assets, has been an investor in C2S Group since March 2018. Currently the eighth-largest operator of private clinics in France, C2S Group today announced that it has stepped up its expansion with the acquisition of four additional clinics in Franche-Comté: the Clinique Saint-Vincent and the Polyclinique de Franche-Comté in Besançon, the Clinique Saint-Pierre in Pontarlier, and the Polyclinique du Parc in Dole.

The integration of these four clinics, all leading facilities in their catchment areas, staffed by teams of recognised professionals and offering complete diagnostic and treatment services, will allow C2S Group to build up a first-rate network of clinics in Franche-Comté.

Since the acquisition of C2S in 2018, Eurazeo Patrimoine has lent its support to the Group as an active shareholder, bringing it the human and financial resources necessary for its growth, thus contributing to a twofold increase in activity in just three years, accompanied by the expansion of its network in south-east central and eastern France. The integration of five new clinics in Auxerre, Vesoul, Grenoble, Dole and Pontarlier, together with two in Besançon, all acquired over a period of less than three years, alongside the 11 facilities already being managed by C2S in 2018 when it was acquired by Eurazeo Patrimoine, has enabled the Group to increase its footprint, bringing it closer to patients and making it the leading operator of multidisciplinary clinics in the Auvergne-Rhône-Alpes and Bourgogne-Franche-Comté regions.

Thanks to the strategic vision shared by the senior executives of both C2S and Eurazeo Patrimoine, the Group has also been able to better align its business model with its values of closeness, quality, balanced medical and managerial governance, and responsible development during this growth phase.
Lastly, Eurazeo Patrimoine’s support for C2S Group has been reflected in major investment programmes: in real estate (expansion and renovation projects, creation of surgical units as well as new out-patient or emergency services) to modernise its clinics and accompany the rise in activity; in medical equipment (acquisition of surgical robots, including the first European CMR robot in operation in France) to provide the facilities and their practitioners with state-of-the-art tools and ensure an excellent standard of care for patients within their communities; and in digital technology, including the digitisation of the patient experience and a strengthened partnership with Doctolib, of which Eurazeo is a main shareholder.

Renaud Haberkorn, Head of Eurazeo Patrimoine, said:
We are very pleased to have supported C2S for nearly three years. With its recent acquisitions, the Group has taken a major step forward in its growth and in the consolidation of its leadership position in its sector at the regional level. Since 2018, Eurazeo Patrimoine’s teams have worked very closely with those at C2S Group. We are proud to be accompanying this preeminent healthcare provider in the Auvergne-Rhône-Alpes and Bourgogne-Franche-Comté regions through every step of its development.

Jean Rigondet, Chairman of C2S Group, said:
The four recently acquired clinics are all leading healthcare facilities for the Franche-Comté area, staffed by teams of talented professionals, working in a coordinated manner and with a collegial spirit, able to offer a full care pathway to patients. We are pleased that these clinics are joining the Group and that we are able to ensure a high standard of care for their communities. We aim to meet the needs of patients by providing them with top-quality healthcare services across a range of disciplines. In line with C2S Group’s continuing growth, our partnership with our shareholder Eurazeo Patrimoine, and the relationship based on attentiveness and mutual trust that we enjoy, are essential to the Group’s development.

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18.5 billion in assets under management, including €12.9 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth 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, São Paulo, Seoul, Shanghai, London, Luxembourg, Frankfurt, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACTS

PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
Email: pbernardin@eurazeo.com
Tel: +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
Email: vchristnacht@eurazeo.com
Tel: +33( 1 44 15 76 44

 

PRESS CONTACT

MAITLAND/amo
DAVID STURKEN
Email: dsturken@maitland .co .uk
Tel: +44 ( 7990 595 913

 

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Frank Heckes and David Forde to lead Private Equity team in Sydney

eqt

EQT today announced the recruitment of Frank Heckes and David Forde to jointly lead EQT Private Equity’s team in Australia and New Zealand. The team will be based in Sydney and work alongside EQT’s Infrastructure team, led by Ken Wong, and continue to further build EQT’s overall presence in the region.

Frank Heckes and David Forde both have extensive investment experience in the private equity market, in partner and senior executive positions across both Australia and Europe, at firms including Archer Capital, TPG Capital and CCMP Capital.

Ken Wong, who leads EQT’s Infrastructure team in Australia and New Zealand said: “We are excited to welcome Frank and David to EQT and to also add EQT’s Private Equity business line to the Sydney office. Australia and New Zealand are key parts of EQT’s focus to grow in Asia Pacific across business lines, and these new hires demonstrate EQT’s commitment and ambitions for the region.”

“We are delighted to have found two such high calibre individuals to lead our Private Equity team in Australia and New Zealand. Both Frank and David bring strong networks and track records and are ideally qualified to bring EQT’s approach to developing companies. Working alongside Ken, they will help to build on the thematic investments we have already made in the region” states Simon Griffiths, Head of EQT Private Equity APAC.

EQT’s investments in Australia and New Zealand currently includes EQT Infrastructure’s pending acquisition of leading New Zealand retirement village operator Metlifecare, and EQT Mid Market Asia’s investment in IT-services provider Nexon Asia Pacific. EQT previously invested in the Australian diagnostic imaging service provider I-MED between 2014 and 2018.

The announcement supports EQT’s strategy of further expanding its presence in the strategically important Asia Pacific region. In alignment with EQT’s “local-with-locals” approach, the Private Equity team will seek to find thematic investment opportunities in close collaboration with EQT’s global platform and extensive network, including the Wallenberg family network.

Contact
EQT Press Office, press@eqtpartners.com

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 40 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

Categories: People

Allegro.eu IPO commences trading on the Warsaw Stock Exchange

Cinven

Investment in the customer proposition, management team and platform drives value creation.

Allegro.eu (“Allegro” or “the Group”), a global top ten e-commerce platform and the leading and most recognised internet brand in Poland, completed its successful listing on the Warsaw Stock Exchange (“WSE”) today with its shares trading under the symbol “ALE”.  The listing, which was executed via a placing to both institutional and retail investors, represents the largest initial public offering (“IPO”) on the WSE to date. At the IPO price of PLN 43 per share, the implied market capitalisation is PLN 44 billion (€9.8 billion).

Funds advised by Cinven, Permira and Mid Europa Partners (together “the Sponsors”) acquired Allegro.eu in January 2017 for US$3.25 billion (€2.75 billion). The value creation strategy involved investing in the experience and convenience of Allegro’s services to both consumers and merchants.  Initiatives included the development of a best-in-class mobile app, improved logistics solutions and pricing tools, and the launch of Allegro SMART! –  the subscription-based loyalty program whose subscriber base has grown to 2.1 million subscribers at 30 June 2020.

The impact of these initiatives, under leadership of Allegro’s Chairman Darren Houston, CEO François Nuyt and the enhanced management team recruited to the Group, has been significant.  Over the lifetime of the Sponsors’ investment, GMV grew by 99%, net revenue by 102% and adjusted EBITDA by 113% on a last-twelve month (“LTM”) basis.  Most recently, GMV growth increased further to 54% (LTM to 30 June 2020) as consumers turned to Allegro to provide them with goods during the ongoing COVID-19 pandemic.

In addition to the significant business growth and value creation, Allegro has seen a substantial increase in employees from 1,380 at the end of 2016 to nearly 2,300 as at 30 June 2020.

Due to the strength of investor demand the original offer of shares was up-sized, with c. 182.6 million shares sold by the Sponsors in the IPO (in aggregate), raising PLN 7.85 billion (€1.76 billion) while retaining an aggregate equity stake in the Group of c. 73% post-listing (before exercise of the over-allotment option).  Should the over-allotment option be fully exercised, the Sponsors will realise a further PLN 1.38 billion (€308.72 million).

Commenting on the IPO, David Barker, Partner of Cinven said:

“When we originally invested in Allegro in 2017, it was a good business with a good reputation. We brought in a new management team, led by the highly experienced Chair, Darren Huston, and CEO, François Nuyts. Together with management and our co-shareholders, we focused on improving the experience for both customers and merchants on the platform and created the ongoing improvements evident in the operating metrics and financial performance of the business. As a result, Allegro is now a great business with an excellent reputation and has an exciting outlook for future growth.”

Richard Sanders, Partner of Permira added:

“Over the last four years, Allegro has grown from strength to strength. With a long-term growth mindset, the company has continued to make significant investments in headcount and technology to improve the consumer and merchant experience. This has spanned everyday retail basics – such as lowering prices and broadening selection – to longer-term strategic bets like Smart!, which are fundamentally transforming the quality of the online shopping experience in Poland. Today marks the next step in the company’s growth trajectory, and we are very excited to continue working with Darren, Francois and the management team.”

Paweł Padusiński, Partner and Head of Warsaw Office of Mid Europa Partners added:

“Allegro’s success story is one of the best testimonies to Mid Europa’s strategy focused on supporting the leading consumer facing businesses in Poland and Central Europe. During our investment in Allegro, we have provided our local investor perspective to the Board and, through our Warsaw based team, have worked closely with Allegro’s highly talented and motivated management. Jointly with our partners, we have helped develop Allegro into a Top 10 global e-commerce marketplace. I am very pleased that this CEE success story was recognized by so many reputable institutional and retail investors. Allegro can now start its new growth chapter as a public company, after having completed the largest ever IPO on the Warsaw Stock Exchange.”

Lazard & Co., Limited acted as Independent Financial Advisor; Goldman Sachs International and Morgan Stanley & Co. International plc acted as global coordinators and joint bookrunners; Barclays Bank PLC, BofA Securities Europe SA, Citigroup Global Markets Limited and Dom Maklerski Banku Handlowego S.A. as joint bookrunners; Santander Bank Polska S.A and BM PKO BP as joint bookrunners and co-offering agents in Poland in connection with its offer to retail investors;  Bank Polska Kasa Opieki Spółka Akcyjna, Crédit Agricole Corporate and Investment Bank, Erste Group Bank AG, Pekao Investment Banking S.A. and Raiffeisen Centrobank AG, as co-lead managers.

Clifford Chance acted as legal counsel to the Issuer; Allen & Overy acted as legal counsel to the underwriters; Greenberg Traurig Grzesiak acted as legal counsel to the underwriters with respect to legal matters of Poland and on the admission of Allegro shares to listing on the Warsaw Stock Exchange; PwC acted as reporting accountant; E&Y acted as tax advisor; FTI Consulting LLP and NBS Communications provided strategic communications advice to Allegro.eu internationally and in Poland, respectively.

 

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IK Investment Partners enters exclusive negotiations with Ardian for the acquisition of Kersia

Ardian

  • 12 October 2020 Buyout Paris , France

IK Investment Partners (“IK”), a leading private equity firm, is pleased to announce that the IK IX Fund (“the Fund”) has entered into exclusive negotiations with Ardian, a world-leading private investment house, to acquire a majority stake in Kersia (“the Company”), a global leader in biosecurity and food safety. Financial terms of the transaction are not disclosed.

Kersia was formed as a new company in 2016 after Hypred acquired Antigerm, LCB Food Safety, G3, Kilco, Choisy Laboratories and Holchem, with each acquisition carefully chosen for their complementary technologies, leading market positions, and business expertise. The Company has tripled in size in less than four years.

Over the last four years, Kersia has grown to become a global leader in biosecurity and food safety. The Company, which has revenues in excess of €300 million, now operates in more than 120 countries with a workforce of over 1,500 people.

Sébastien Bossard, CEO of Kersia said: “We are delighted that IK, one of the most educated and experienced sponsors in our sectors of activity, has entered into negotiations to support us on our next stage of growth. Together, we will be able to pursue this extraordinary entrepreneurial adventure, of which we are proud. We will rely on our teams and innovative solutions, while continuing to serve farmers, food manufacturers and restaurant owners, as well as our customers in the health sector, who have placed their trust in us for many years. We would like to thank Ardian for their incredible contribution over the past four years.”

Dan Soudry, Managing Partner at IK and advisor to the IK IX Fund said: “We are very impressed by Kersia’s expertise and impressive track record of growth demonstrated over recent years. Kersia has built robust market positions globally, while keeping its customers at the centre of its strategy. We are delighted to have the opportunity to support Kersia and its management team in their growth strategy and consolidation of the biosecurity market.”

Thibault Basquin, Head of Americas Investments for Ardian Buyout and Managing Director added: “I would like to sincerely congratulate Sébastien Bossard and all the teams at Kersia for the tremendous adventure we have experienced in recent years. With the support of Ardian, Kersia has notably deployed a strong sustainability roadmap. Leading a responsible growth strategy and the integration of six companies in such a short period of time requires first-rate skills and discipline. We are proud to have contributed to this success.”

The transaction remains subject to the approval of antitrust authorities and to the information and consultation processes of the relevant employee representative bodies in accordance with applicable laws.

Kersia is the first investment in the IK IX Fund, which closed earlier this year at its hard cap of €2.85 billion.

Parties involved with the transaction

  • IK Investment Partners

    • Dan Soudry, Rémi Buttiaux, Vincent Elriz, Guillaume Veber, Mathieu Carton
    • Buyer Financial advisor: Amala Partners (Jean-Baptiste Marchand), Natixis Partners (Ludovic Tron, Thomas Laroque, Bertrand Duquesne)
    • Buyer Legal advisor: Willkie Farr & Gallagher (Eduardo Fernandez, Grégory de Saxcé)
    • Buyer Strategic DD: Bain & Company (Daphne Vattier)
    • Buyer Financial DD: Eight Advisory (Pascal Raidron, Katia Wagner, François Gallizia)
    • Buyer legal, tax, social DD: KPMG (Florence Olivier, Albane Eglinger, Xavier Houard)
    • Management legal advisor: Claris Avocats (Me Marie-Isabelle Leveques), Cornet Vincent Segurel (Me Pierre Lamidon)
    • Management Financial advisor: ManageMens (Guillaume Darbon)

  • Ardian

    • Thibault Basquin, Nicolas Darnaud, Alexis Manet, Alexandre Vannelle, Jean-Baptiste Hunaut
    • Sellers Financial Advisor: Evercore (Tom Massey, Greg-Henri Bize, Paul-Emmanuel Prunet, Maximilian Rempel), Sycomore Corporate Finance (François Vigne, Tristan Dupont, Aurélien Singer, Quentin de Fréminville)
    • Sellers Legal advisor: Latham & Watkins (Gaëtan Gianasso, Timothée Brunello, Aymeric Fradin, François Blanchet)
    • Strategic VDD: Bain & Company (Jérôme Brunet, Andrea Gondekova, Ghofrane Maaroufi)
    • Financial VDD: Accuracy (Frédéric Loeper, Florent Lachenaud, Thomas Brandt)
    • Legal VDD: Latham & Watkins (Gaëtan Gianasso, Timothée Brunello, Aymeric Fradin, François Blanchet)
    • Tax VDD: Arsene Taxand (Mirouna Verban, Ludovic Genet)
    • Environment VDD: Aecom (ChinChin Lim)
    • Insurance VDD: Marsh (Jean-Marie Dargaignaratz)
    • ESG VDD: Indefi (Emmanuel Parmentier, Maxence Lavolle)

 

About Kersia

Kersia is a global leader in biosecurity and food safety with value added products and solutions to prevent diseases or contamination in both animals and humans at every stage of the food supply chain. The company also offers solutions to the healthcare sector. Kersia operates in more than 120 countries with a workforce of over 1,500 people and a turnover of more than 300 million euros.

Visit the Website

 

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 135 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects.

Visit the Website

 

About Ardian

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Press contact

Ardian – Headland

Carl Leijonhufvud

cleijonhufvud@headlandconsultancy.com +44 (0)20 3805 4827

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Miura invests in the healthcare sector by partnering with Terrats Medical

Miura Capital

• Terrats Medical is a leading global company in dental implant and abutments production and solutions, operating under DESS Dental Smart Solutions
• Miura joins forces with the management team to boost international growth in global markets

Miura Private Equity, a Spanish leading investment firm, has closed an investment agreement with Terrats Medical, a major global company in design and production of dental implants and abutments that operates under DESS Dental Smart Solutions brand. Miura will support the management team in their consolidation and international growth plan.

Terrats Medical is family owned business with more than 70 years of history currently led by the third generation and headquartered at Barcelona. The company is one of the best players in high tech abutments, dental implant related products and medical devices as well as engineering, production and certification of their products, with a strong presence in international markets such as the US, Europe (Germany, France and the Nordic countries) and Asia, thanks to a wide network of partners in distribution, research centers and dental clinics. DESS is present nowadays in more than 35 countries and sells abroad more than 90% of its total revenue.

The company uses state of the art technology to design and manufacture world-class implant abutments and dental implants. In addition, Terrats Medical provides tailored OEM (Original Equipment Manufacturer) and private label services to other dental implant brands.
According to Luis Seguí, CEO & Founding Partner at Miura, “It is a strategic investment in the Healthcare sector in which we can provide value and know-how on family businesses and help the company reach new global heights.”

Carlos Julià, Miura’s deal leading partner said: “We are very excited to join forces with Terrats family. We will work side by side with the management team to keep on growing on global markets thanks to Terrats Medical vision and performance, as well as our expertise on developing family businesses based on industrial sectors with a strong international focus.”

Roger Terrats, CEO of Terrats Medical, concluded that: “The partnership with Miura sets a news stage of growth and consolidation that will reinforce our position as high-end medical and dental company. In addition, they provide stability and a higher magnitude to our business, which has been ongoing for the last 70 years thanks to our committed entrepreneurship, responsibility, and customer care. Values that Miura endorses altogether.”
The transaction was advised by PwC, KPMG and Gómez-Acebo y Pombo.

About Miura
Miura is a leading investment firm in Spain with assets under management totaling more than €1 billion through its Private Equity and Agribusiness funds. The firm specializes in investing in Spanish family businesses with attractive growth and consolidation plans, and with a clear international vocation. Since the year 2008, Miura has invested in more than 40 companies, with transactions valued in more than €1,5 billion.
Find more: www.miuraequity.com

About Terrats Medical and DESS Dental Smart Solutions
Terrats Medical is a major global company in design and production of dental implant and abutments that operates under DESS Dental Smart Solutions brand. DESS is present nowadays in more than 35 countries and sells abroad more than 90% of its total revenue. Since 2009 Terrats Medical has transformed its core business from a specialist contract manufacturing of small metalic precision components to a global company in the dental implant dentistry.
Find more: www.dess-abutments.com

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Sound United Finalizes Acquisition of Bowers & Wilkins

Charlesbank

Sound United LLC, parent company to Denon, Polk Audio, Marantz, Definitive Technology, Classé, and Boston Acoustics, today announced that it has finalized the acquisition of Bowers & Wilkins, a leading designer and manufacturer of luxury home audio speakers, headphones, custom installation products, wireless speakers, and branded audio systems in the automotive and television markets.

“Acquiring Bowers & Wilkins combines its industry-leading acoustic design, engineering and manufacturing expertise in the premium category with Sound United’s scale, technical acumen and consumer reach to ensure Bowers & Wilkins thrives moving forward,” said Kevin Duffy, CEO at Sound United. “Sound United has a strong track record of enthusiastically protecting each of its brands’ unique identities and core competencies, and our approach with Bowers & Wilkins will be no different. In fact, we believe the entire portfolio stands to benefit from the addition of Bowers & Wilkins, which in turn translates into exciting new products, technologies and opportunities for our consumers, distributors, dealers, and all audio enthusiasts around the world.”

Geoff Edwards will ensure continuity by becoming President of the Bowers & Wilkins brand at Sound United. The acquisition includes all worldwide third-party distribution and licensing agreements under which Bowers & Wilkins premium audio products are currently sold.  Investing in additional brands enables Sound United to better innovate across product categories, feature sets, technology partners, and consumer segments. As part of the acquisition, Sound United is eager to support the development of new Bowers & Wilkins products to support the brand’s position in the premium acoustic home audio market.

“This acquisition represents a new era for Bowers & Wilkins and offers a fresh opportunity to focus on what we do best, building the industry’s finest loudspeakers,” said Geoff Edwards, CEO of Bowers & Wilkins. “We’re looking forward to combining our organizations and becoming a part of the industry’s strongest portfolio of premium audio brands.”

Sound United is a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC. Houlihan Lokey served as the exclusive financial advisor to Bowers & Wilkins.

 

About Sound United

Sound United was founded in 2012 with a simple mission – to bring joy to the world through sound. Today, we’re one of the world’s largest portfolio audio companies and home to several legendary audio brands—Denon®, Marantz®, Polk Audio, Classé, Definitive Technology, HEOS, and Boston Acoustics®.  Each brand boasts its own philosophy and unique approach to bringing home entertainment to life.

 

With centuries of collective experience, Sound United oversees the design and manufacture of a diverse array of premium audio products, including loudspeakers, sound bars, AV receivers, wireless speakers, amplifiers, turntables, and headphones. We create distinct and memorable listening experiences for a wide range of consumers in more than 130 countries. For more information on Sound United and our mission, please visit www.soundunited.com.

 

About Bowers & Wilkins

Bowers & Wilkins, founded in the U.K. in 1966, has been at the forefront of high-performance audio technology for more than 50 years. Bowers & Wilkins designs and manufactures precision home speakers, headphones, custom installation and performance car audio products that set new standards for innovation and sound quality, earning countless awards and accolades from the world’s leading recording studios and musicians. Bowers & Wilkins’ reputation is based on the unwavering pursuit of the best possible sound and an unsurpassable music listening experience.  Learn more at www.bowerswilkins.com.

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Espresso Capital Provides Baird Capital’s Zaloni with $6 Million Credit Facility

Baird Capital

DURHAM, N.C., Oct. 9, 2020 /CNW/ – Espresso Capital announced today that it has provided North Carolina based data software provider Zaloni™ with a $6 million credit facility. The company will use the funds to further expand its sales team, make additional investments in its innovative DataOps software platform, Arena™, and drive revenue growth.

“We’ve found a true partner in Espresso,” said Zaloni CEO Susan Cook. “They’ve given us the flexibility we need to continue to grow our business in a challenging macroeconomic environment. Espresso’s investment will enable us to execute our plan, continue to improve our platform, and accelerate our go-to-market strategy by making strategic investments in sales and marketing.”

“Espresso’s flexible, non-dilutive facility gives us the opportunity to build on the momentum from the launch of Zaloni’s new  Arena™ platform, moves us further toward profitability, and boosts our growth trajectory,” Cook continued.

“Zaloni is a fantastic company with a massive addressable market,” said Espresso Executive Director, Steven Michau. “Between the quality of their leadership team, the value that their platform delivers, and the tailwinds they’re seeing, we see a very bright future ahead for them and are excited to be able to help support their growth.”

Zaloni™ was introduced to Espresso through existing investor Baird Capital. “Part of the value that we bring to our portfolio companies is connecting them to the right players in the ecosystem to help them build their businesses,” noted Jim Pavlik, Partner at Baird Capital. “We’re excited that our introduction to Espresso led to this partnership with Zaloni and provides Susan and her team with additional growth capital to continue to expand their business.”

Cook has been thrilled with the outcome. “Espresso has been tremendous to work with,” she said. “They have a true appreciation for how companies like ours do business and structured a deal that worked. Not only that, there weren’t any surprises along the way. They’re rational, straightforward, and follow through with agreed terms, which resulted in a seamless process. We’ve been thoroughly impressed and are delighted to have them as a strategic partner as we scale our business.”

About Zaloni

At Zaloni™, we believe in the unrealized power of data. Our DataOps software platform, Arena, streamlines data pipelines through an active catalog, automated controls, and self-service consumption to reduce IT costs and accelerate analytics. We work with the world’s leading companies, delivering exceptional data governance built on an extensible, machine-learning platform that both improves and safeguards enterprises’ data assets. To find out more visit http://www.zaloni.com.

About Baird Capital

Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 310 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. For more information, please visit www.BairdCapital.com.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 270 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.

SOURCE Espresso Capital

For further information: Kevin Cain, kcain@espressocaptial.com

Related Links

http://www.espressocapital.com/

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Eurazeo Capital enters into exlusive discussions with IK, Raise and the management team to invest in Questel

Eurazeo

Paris, 09 October 2020 –
Eurazeo Capital has entered into exclusive discussions with IK Investment Partners, RAISE Investissement and the management team to invest in Questel, a major worldwide technology player in the area of intellectual property management. Questel develops both SaaS solutions and added-value services focused on patents, designs and trademarks.
Discussions are currently underway with potential co-investors. The financial details will be disclosed following these discussions.

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18,5 billion in assets under management, including €12,9 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth 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, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN : FR0000121121 – Bloomberg : RF FP – Reuters : EURA.PA

EURAZEO CONTACTS

PRESS CONTACT
PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail : pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44

MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 (0) 7990 595 913

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CVC Credit Partners prices second CLO in a month

Apidos XXXIV will increase CVC Credit Partners Global CLO issuance in 2020 to over $1.6 billion

CVC Credit Partners is pleased to announce that it has priced Apidos XXXIV, a collateralised loan obligation fund totalling $402.5 million. This is the second CLO fund CVC Credit has priced in the last month, following the pricing of Cordatus XVIII in late September. Together these funds total c.$850 million of new issuance and will increase CVC Credit’s global CLO funds raised in 2020 to c.$1.6 billion. Pro forma for both funds CVC Credit’s global CLO assets under management now stand at approximately $17 billion.

Arranged by Deutsche Bank, Apidos XXXIV is CVC Credit’s second new-issue CLO to price in the US in 2020 and will increase US CLO AUM to approximately $10 billion. As with previous Apidos CLOs, the fund is primarily comprised of broadly syndicated First Lien Senior Secured Loans.

Cordatus XVIII is a €382.5 million European focused CLO, also arranged by Deutsche Bank. It is CVC Credit’s second European CLO priced in 2020, following Cordatus XVII in June. European CLO AUM now stands at $7 billion.

Kevin O’Meara, Senior Managing Director and Portfolio Manager at CVC Credit Partners, said: “To price two deals in the US during such a volatile year displays the disciplined and targeted approach of the platform. We are pleased with our asset ramp for Apidos XXXIV and the recent improving market conditions created a window to price our liabilities at an attractive financing rate.”

Gretchen Bergstresser, Global Head of Performing Credit at CVC Credit Partners, commented: “This is our fourth new CLO issuance globally in 2020 – a good result, particularly for a year as challenging as 2020. Thanks to the cohesion of our US and European teams we were able to run broadly concurrent processes for Apidos XXXIV and Cordatus XVIII, enabling various operational synergies to boost the speed and efficiency of both pricings.”

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New Mountain Sells Majority Stake in OneDigital to Onex

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Investment Values Leading Employee Benefits and Retirement Advisor at $2.65 Billion and Positions OneDigital for Continued Rapid Growth

New York, NY – October 8, 2020 – New Mountain Capital (“New Mountain”) today announced it has agreed to sell a majority stake in OneDigital, a leading U.S. provider of employee benefits insurance brokerage and retirement consulting services, to Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds (the “Onex Group”). New Mountain and OneDigital employees will roll a significant portion of their existing investments into the transaction. Founded in 2000, OneDigital is headquartered in Atlanta, Georgia and has more than 2,000 employees in over 100 offices across the United States.

“OneDigital has established a leading national insurance brokerage and a customer- and employee-centric culture which drives business performance,” said Todd Clegg, an Onex Managing Director. “The company has a very impressive management team led by Adam Bruckman and is well positioned to grow both organically and by continuing its track record of successful acquisitions. We are thrilled to partner with Adam, the rest of the OneDigital team and New Mountain.”

“Our world-class employees and investment in holistic health, wealth and HR solutions have allowed us to continually grow our market position by providing our clients with a level of value that is unparalleled in the market,” commented Mr. Bruckman, President and Chief Executive Officer of OneDigital. “We look forward to our next phase of growth in partnership with Onex and New Mountain.”

“OneDigital’s more than four-fold growth in enterprise value since 2017 demonstrates New Mountain’s commitment to partnership and business-building through organic growth and acquisitions. With the support of Onex, who has deep industry expertise and an aligned long-term investment philosophy, we expect the company to have similar successes going forward,” said Robert Mulcare, Managing Director of New Mountain.

The transaction values OneDigital at $2.65 billion. The new equity investment of approximately $960 million will be made by the Onex Group, including Onex Partners V. Upon closing, the Onex Group and employees of OneDigital will own approximately 83% of the company. The transaction is anticipated to close by the end of 2020 subject to customary conditions and regulatory approvals.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $25 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

About Onex

Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, senior loan strategies and other private credit strategies; and Gluskin Sheff’s wealth management services including its actively managed public equity and public credit funds. In total, Onex has approximately $35.6 billion of assets under management, of which approximately $6.6 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP businesses have assets of $45 billion, generate annual revenues of $25 billion and employ approximately 165,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com.  Onex’ security filings can also be accessed at www.sedar.com.

About OneDigital

OneDigital is the leading strategic advisory firm in the U.S. and has consistently led from the front as a workplace ally for 20 years. OneDigital’s unique ability to converge health, wealth and human resources into a hub of services and business guidance has empowered companies to create workplaces that attract and retain talent while fueling innovation and company growth. As employee healthcare, wellness and workplace benefits continue to shift, companies of all sizes have relied on OneDigital’s exceptional advisory teams for counsel and its adjacent services, including employee benefits, holistic HR services, retirement and wealth management, employee wellbeing and pharmacy consulting. Headquartered in Atlanta, OneDigital’s more than 100 offices and 2,000 business strategists serve the needs of over 50,000 employers across the United States.

OneDigital has been named to the Inc. 5000 List of America’s fastest-growing companies every year since 2007, one of only 12 companies to do so. Currently listed as 18th on Business Insurance’s list of 100 Largest U.S. Brokers, OneDigital’s deep analytic abilities and experienced advisors deliver insights that reduce business risk and improve plan design and performance. For more information, visit www.onedigital.com.

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