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ARDIAN acquires a majority stake in STUDY GROUP, the leading international education provider in the UK, Australia and North America

Ardian

London, February 21, 2019 – Ardian, a world-leading private investment house, announces it has reached an agreement to acquire a majority stake in Study Group, the leading provider of international education in the UK and Europe, Australia, New Zealand and North America, from Providence Equity Partners, a premier global asset management firm.

Each year, Study Group supports around 30,000 students from 142 countries on campuses spread across three continents. Study Group prepares international students, who wish to enter leading English-speaking universities, through educational courses that provide them with the academic, language and learning skills needed to succeed. Study Group is a market leader in the UK and in Australia, and partners with 48 prestigious universities.

A world leader, Study Group has the highest number of partner universities which fall within the Global Top 200 university ranking of the market. The International Education pathway market has grown by 15% p.a. in volume historically and is forecast to continue to grow double-digit in the years to come.

David Leigh, the Chairman of Study Group, commented: “It has been a great privilege to lead the excellent team at Study Group over the past six years. Led by CEO Emma Lancaster, the organisation is poised to continue its strong growth under new ownership, providing excellent outcomes for students via close partnerships with many of the world’s best universities.”

Olivier Personnaz, Managing Director in Ardian Buyout team added: “We are proud to invest in Study Group for the next phase of its development. The ambition of the management team, the quality of their long-term university partner relationships and the strength of its growth serve as proof of Study Group’s excellence. Alongside the management team, we will work to drive further growth and build on the Group’s presence in key geographies through strategic acquisitions. Through our investment, more students will be able to realize their academic potential at leading international universities.”

Dany Rammal, Managing Director at Providence Equity, said: “We are pleased to have partnered with Study Group’s strong management team to improve academic outcomes for students around the world, grow the number of University Partners from 16 in 2010 to 48 today, and execute a number of strategic and operational efforts that position the Company well for its next phase of growth. We wish the team every success going forward.”

This acquisition remains subject to the authorization from FIRB in Australia.

ABOUT STUDY GROUP

Study Group is a leading provider of international education. With 48 university partners around the world, it enables students to succeed at degree level, by helping them develop the necessary study and language skills to which they may not have had access in their local education systems. Last year, around 30,000 students from 142 countries chose Study Group to provide them with life-changing learning experiences.
www.studygroup.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 550 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 800 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT PROVIDENCE EQUITY PARTNERS

Providence is a premier global asset management firm with approximately $40 billion in aggregate capital commitments. Providence 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 has become a leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI, and also has offices in New York and London. For more information, please visit www.provequity.com

LIST OF PARTICIPANTS

Ardian: Olivier Personnaz, Bruno Ladrière, Edward Little, Benjamin Witcher, Michael Van Cauwenberge
Commercial Due Diligence: OC&C – Pedro Sanches, Zeeshan Ashraf
Financial Due Diligence: EY – Matt Harvey, Mark Griffiths
Tax: EY – Karen Kirkwood, Michael Atkinson, Sachika Yamawaki
Corporate: Allen & Overy – Karan Dinamani, Hayley Elsley, William Hayward
Financing: Allen & Overy – Robin Harvey, Sarbajeet Nag, Alex Bond

PRESS CONTACTS

ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.com
STUDY GROUP
Topline
Katie Shuff
Tel: +44 (0)7958 441840
katie@toplinecomms.com
PROVIDENCE EQUITY PARTNERS
Sard Verbinnen & Co
Conrad Harrington
Tel: +44 207 4671 050
Prov-SVC@SARDVERB.com

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Authority Brands welcomes the Clockwork brands into its family

Apax

Addition doubles Authority Brands’ overall system revenue to over $1 billion

New York and Columbia, Maryland, February 21, 2019: Authority Brands, a leading home services franchising platform backed by funds advised by Apax Partners, announced today the acquisition of Clockwork, Inc., and certain of its affiliates (“Clockwork”) from Direct Energy Group, a subsidiary of Centrica plc. The transaction is expected to close in the first half of 2019. The acquisition is the third home services add-on for Authority Brands since the company was acquired by funds advised by Apax Partners in September 2018.

Established in 1999, Clockwork delivers critical home services through three leading plumbing, electrical, and heating, ventilation and air-conditioning (“HVAC”) providers across the United States. Its household-name brands – Benjamin Franklin Plumbing® (“Benjamin Franklin”), Mister Sparky® electric, and One Hour Heating & Air Conditioning® (“One Hour”) – are all rated among the best-in-class in their respective categories.

Authority Brands is the parent company to leading home services brands The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company and Mosquito Squad which operate across the residential cleaning, at-home care, swimming pool repair and maintenance, and pest control services sectors respectively. Authority Brands supports individual franchisee growth by providing strong marketing, technology and operational support.

Rob Weddle, CEO of Authority Brands, said: “The addition of the Clockwork group of brands is an important and significant step in the evolution of Authority Brands. All three brands are market-leading franchises within their respective industries and their addition to our portfolio doubles our overall system revenue to over $1 billion. This scale allows us to further strengthen each of our brand’s systems and continue down the path of becoming the home services franchisor of choice for both business owners and consumers.”

Ashish Karandikar, Partner at Apax Partners, said: “We are delighted to support Authority Brands in this transformational acquisition. The Clockwork brands operate in attractive markets and will bring scale and diversification to Authority Brands’ platform. We anticipate substantial benefits for both businesses from cross-selling and collaboration across marketing, technology and operational support.”

Bruce Stewart, president of Direct Energy Home North America said: “The decision for this sale reflects our goals to focus and simplify our channels to customers and to own our own brands. Authority Brands is a good home for Clockwork and the franchise owners and customers will see no difference in our service delivery as we conclude this transaction.”

About Authority Brands
Headquartered in Columbia, Maryland, Authority Brands, LLC is the parent company of four leading home service franchisors, The Cleaning Authority, Homewatch CareGivers, America’s Swimming Pool Company and Mosquito Squad. Together, these brands provide recurring home services through more than 550 franchise locations in the U.S., Canada, Latin America, Kenya and Indonesia. Authority Brands is dedicated to supporting individual franchisee growth through providing strong marketing, technology and operational support.

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

Media Contacts:  

For Authority Brands

Nikki Rode, Fish Consulting | +1 954-893-9150 | nrode@fish-consulting.com

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors:

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

Global press contact

Andrew Kenny
t: +44 20 7872 6300
andrew.kenny@apax.comGreenbrook Communications
t: +44 20 7952 2000
apax@greenbrookpr.com

Kate Albert
t: +44 20 7872 6300
kate.albert@apax.com

See all Press contacts

Authority Brands

Leading North American franchisor of home services

 

Categories: News

Wendel to Sell Large Stake in Allied Universal

Wendel

Today Wendel announced it has entered into an agreement to sell approximately 40% of its equity stake,
along with other existing shareholders, in Allied Universal (the “Company”), the leading security services
provider in North America, to Caisse de dépôt et placement du Québec (“CDPQ”) at an enterprise value of
more than $7 billion. Simultaneously, Allied Universal has entered into an agreement whereby CDPQ will
provide up to approximately $400 million to support the Company’s growth strategy and acquisition plans.
Following the transaction, Wendel will retain an approximately 18% ownership stake in the Company.
Pro forma for the transaction, CDPQ will become the largest shareholder in Allied Universal. The Company
will continue to be majority owned by its existing shareholders, including Wendel, Warburg Pincus, and the
Company’s management team, whose representatives will continue to constitute a majority of the Company’s
Board of Directors. The transaction is expected to close in the third quarter of 2019 subject to customary
closing conditions, including regulatory approval.
Wendel is expected to receive approximately $350 million in cash proceeds as part of the transaction.
Following the transaction, Wendel will have received cash proceeds, including prior distributions, in excess
of its total initial investment in the Company.

“CDPQ’s agreement to acquire a significant ownership stake and invest in Allied Universal is a strong
endorsement of the Company’s strategy and vision for the future and, most importantly, the incredible work
of our entire team,” stated Steve Jones, President and CEO of Allied Universal. Wendel and Warburg are
terrific partners who have supported our rapid growth over the past several years and we look forward to
adding CDPQ to our shareholder base. We think CDPQ’s long-term approach is well-suited to our strategy
for continued growth in manned guarding and technology services and look forward to working with them as
partners.”
“We are extremely proud of the progress that Steve and the entire Allied Universal team have made during
our partnership and look forward to the Company’s continued growth with CDPQ’s support,” said David
Darmon and Adam Reinmann, Managing Directors of Wendel North America.
André François-Poncet, Wendel Group’s CEO, said: “I am delighted to see that CDPQ, a high-quality
investor, is joining us to further develop Allied Universal and strengthen its leading position in the industry.

This transaction also provides Wendel with further means to identify new high quality assets and grow its
portfolio over the long-term.”

History of Wendel’s Investment in Allied Universal
In December 2015, Wendel acquired AlliedBarton Security Services (“AlliedBarton”) for approximately $1.68
billion. As part of the transaction, Wendel made an investment of approximately $687 million, for
approximately 95% ownership in the Company, alongside AlliedBarton’s management team. In 2016,
AlliedBarton merged with Universal Services of America, owned by Warburg Pincus, creating Allied Universal
the leading security company in North America. Following completion of the merger, in exchange for its
contribution of its shareholding in AlliedBarton Security Services, Wendel received approximately 33% of the
shares of Allied Universal and a cash payment of $388 million. In October 2018, Wendel invested an
additional $78 million to support Allied Universal’s acquisition of U.S. Security Associates.

About Allied Universal
With annual revenues of over US $7 billion and more than 210,000 employees at over 38,000 client sites,
Allied Universal is the largest security solutions provider in North America, offering a mix of comprehensive
manned guarding security services and innovative technology solutions, including systems integration and
remote monitoring, to a broad and diversified group of customers.

Advisors
Barclays and Morgan Stanley & Co. LLC acted as financial advisors to Allied Universal in this transaction.
Cleary Gottlieb Steen & Hamilton LLP and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal
advisors in this transaction.

Agenda
03.21.2019
2018 Full-Year Results / Publication of NAV as of December 31, 2018 (pre-market release).
05.16.2019
2019 Annual General Meeting / Publication of NAV as of March 31, 2019 and Q1 trading update (pre-market release).
07.30.2019
Q2 2019 / Publication of NAV as of June 30, 2019 and trading update (post-market release).
09.06.2019
2019 Half-Year consolidated financial statements / Condensed Half-Year consolidated financial statements
(pre-market release) – No NAV publication.
11.07.2019
2019 Investor Day / Publication of NAV of September 30, 2019 and Q3 2019 trading update (pre-market release).

About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau
Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as a controlling or lead shareholder in these companies.
We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through OranjeNassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of Tsebo in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.
For more information:
Follow us on Twitter @WendelGroup

Categories: News

Apax VIII sells its stake in AssuredPartners to GTCR

Apax

Transaction Sees Previous Backers Renew Successful Partnership with Insurance Broker

Lake Mary, Florida, New York and Chicago, February 21, 2019:Apax VIII, a fund advised by Apax Partners, today announced it has agreed to sell its entire stake in AssuredPartners, a leading US insurance brokerage, to an investor group led by GTCR, a leading Chicago-based private equity firm. GTCR previously owned AssuredPartners from its inception in 2011 until its sale to Apax VIII in 2015. The terms of today’s transaction were not disclosed. The transaction is expected to close in the second quarter of 2019.

Apax IX, a separate fund advised by Apax Partners, will co-invest in the transaction alongside GTCR taking a significant minority stake in AssuredPartners. AssuredPartners’ management team retains its significant minority stake in the business.

Established in 2011, AssuredPartners is today one of the largest insurance brokers in the United States, distributing property and casualty (“P&C”), risk management, employee benefits and personal insurance. Headquartered in Lake Mary, Florida, the company operates from 200 offices across 30 states and London, England.

In executing The Leaders Strategy™, GTCR partnered with management to form AssuredPartners in 2011 with the goal of creating a leading middle market broker. Over the course of four years, the company completed 112 acquisitions, grew annualized revenue to over $500 million and built a platform from which to achieve long-term success.

Apax VIII acquired a majority stake in AssuredPartners in 2015. During its ownership, AssuredPartners has delivered on its strategy of building a leading insurance brokerage franchise through consolidating a large, fragmented industry. This has been achieved through significant M&A, the business has completed 124 acquisitions, continued strong organic growth, driven by operational improvements including investment in IT, salesforce and infrastructure, and the recruitment of key senior hires, including CIO and Chief Organic Growth Officer positions. The result of these initiatives has seen revenue and EBITDA more than double during Apax VIII’s ownership as the business has benefited from scale and broader product ranges.

Jim Henderson, co-founder and CEO of AssuredPartners, said: “Apax has been a superb partner for Assured over the last three years and we are delighted to be renewing this successful partnership. At the same time, we are excited to welcome back the GTCR team who we know very well and value their expertise and insight. We look forward to working with both firms who share our vision and commitment to scaling the business further.”

Tom Riley, co-founder, President & COO of AssuredPartners, added: “We have formed a partnership with agencies throughout the country and beyond through the partnership and support of GTCR and Apax Partners. Our acquisition strategy has allowed us to create something truly unique in our industry. The union of our two supporting entities joining forces makes for a very exciting future for AssuredPartners. We look forward to our continued success with Aaron Cohen and Ashish Karandikar and their respective winning teams.”

Ashish Karandikar, Partner at Apax Partners, said: “Three and half years ago, we backed Jim Henderson and his team on an ambitious journey to build the preeminent US middle market insurance brokerage firm. Since then, AssuredPartners has charted an impressive growth trajectory through organic investments in sales and technology and through acquisitions to create a scaled product and service proposition to carriers and customers. We believe there continues to be exceptional opportunities for AssuredPartners and its over 5,000 talented and entrepreneurial insurance professionals and are excited to be continuing our journey.”

Aaron Cohen, GTCR Managing Director, added: “We had an incredible experience working with the Assured team and have watched with admiration their continued success over the last three years. We want to congratulate the entire Assured organization on building a leading insurance broker with over $1 billion of revenue in just eight years. AssuredPartners is a trusted advisor to its customers, offering unique capabilities to assist leading companies in all of their insurance and risk management needs. We are thrilled to be partners with Jim Henderson, Tom Riley and the team once again and look forward to the continued expansion of the AssuredPartners platform.”

The Apax Funds have significant experience investing in the insurance sector, including Hub International and Genex, which were successfully exited in 2013 and 2018 respectively, and current investment Duck Creek Technologies.

The investment in AssuredPartners continues GTCR’s two decades of successful experience investing in the insurance industry with past investments in insurance brokers Alliant Resources and AssuredPartners, specialty carrier Ironshore, premium finance provider Premium Credit Limited and software company Solera.

AssuredPartners and Apax VIII were advised by Bank of America Merrill Lynch (M&A Advisor) and Kirkland & Ellis LLP (legal counsel). Harris Williams and Barclays also provided M&A advice to Apax VIII. Simpson Thacher & Bartlett LLP provided legal advice to Apax IX. Katten Muchin Rosenman LLP served as legal advisors to the management team of AssuredPartners. GTCR was advised by Morgan Stanley & Co. LLC (financial advisor) and Latham & Watkins LLP (legal counsel).

About AssuredPartners
Headquartered in Lake Mary, Florida and led by Jim Henderson and Tom Riley, AssuredPartners, Inc. acquires and invests in insurance brokerage businesses (property and casualty, employee benefits, surety and MGU’s) across the United States and in London. From its founding in March of 2011, AssuredPartners has grown to over $1.1 billion in annualized revenue and continues to be one of the fastest growing insurance brokerage firms in the United States with over 200 offices in 30 states and London. For more information, please visit www.assuredpartners.com.

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

About GTCR
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $15 billion in over 200 companies. For more information, please visit www.gtcr.com.

Media Contacts: 

For AssuredPartners

Jamie Reinert | +1 513-624-1779 | jamie.reinert@assuredpartners.com

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521-4854 | todd.fogarty@kekst.com

UK Media: James Madsen / Matthew Goodman, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For GTCR

Eileen Rochford | +1 312-953-3305 | eileenr@theharbingergroup.com

Notes to Editors:

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

 

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ICG appoints Jamie Rivers as a Managing Director in the UK Equity and Mezzanine team

Intermediate Capital Group (ICG) is pleased to announce the appointment of Jamie Rivers as a Managing Director in the UK Equity and Mezzanine team.

Jamie has joined ICG from BC Partners, where he worked for 15 years, originating and executing private equity investments, primarily in the UK. These included Acuris, CarTrawler, Cote Restaurants, Elysium and VetPartners.

In his new role at ICG, Jamie will focus on seeking investment opportunities among UK-headquartered companies for the European investment strategy. This is one of ICG’s largest investment strategies, which supports the long-term growth of private companies across Europe by providing flexible capital solutions to support the strategic ambitions of management teams. In November 2018 ICG’s Europe Fund VII closed with €4bn of third party commitments, a 60% increase on its predecessor fund, and total commitments of €4.5bn.

Benoît Durteste, Chief Executive of ICG, said: “ICG’s investment approach is predicated on having deep, on the ground investment expertise and Jamie has an excellent track record of making successful investments in the UK market. We are delighted he has joined the team.”

Jamie Rivers said: “ICG has a strong track record of working with management teams to support their growth ambitions and, as a result, delivering strong investment returns. I am delighted to have joined the team.”

For further details please contact:

ICG
Alicia Wyllie
Director, Co-Head of Corporate Communications
Tel: +44 (0)203 201 7994
Mobile: +44 (0)7808 610080
Email: alicia.wyllie@icgam.com

Maitland
Sam Turvey
Partner
Tel: +44 (0)207 379 5151
Mobile: +44 (0)78 2783 6246
Email: sturvey@maitland.co.uk

Categories: People

AI-company Aidence raises €10 million Series A to revolutionise the medical imaging industry

Inkef Capital

Amsterdam 20/02/2019- Aidence, a company that is bringing the full potential of Artificial Intelligence into the hands of medical professionals in medical imaging and disease detection, has completed a €10 million Series A funding round. The round was led by INKEF Capital and co-investor Rabo Ventures, alongside existing investors Northzone, HenQ and Health Innovations. This investment brings Aidence’s total funding to €12.5 million.

 

Aidence was founded in Amsterdam in 2015 by Mark-Jan Harte (CEO) and Jeroen van Duffelen (COO). Since then, the company has made waves in the medical imaging industry with its AI solution, Veye Chest. Lung cancer is one of the most common cancers worldwide and early detection is of great importance for survival. Aidence’s AI-enabled pulmonary nodule management assistant, Veye Chest, connects with existing imaging infrastructure and enables radiologists to better spot and track changes in pulmonary nodules. Veye Chest is already installed in more than 10 hospitals in the Netherlands, United Kingdom and Scandinavia and processes hundreds of studies per week.

 

Aidence was selected for SBRI Healthcare last year, an NHS innovation initiative. Its health economics team recognised Veye Chest has potential to provide relief to the pressures in the radiologist workforce and reduce the number of missed lung cancers.

 

CEO Mark-Jan Harte says: “We’ve been determined since day one to deliver a tangible clinical AI solution that can be used by healthcare professionals to help their patients. We welcome INKEF and Rabo Ventures on our journey as we strive to shape the future of the medical imaging industry. With this funding we will continue building our European market expansion while also building towards FDA clearance giving us access to the US healthcare market. This investment will allow our research and development team to expand and explore new avenues for the Veye platform to support our radiologist AI pioneers and the patients they care for.”

 

Thijs Cohen Tervaert from INKEF comments: “We’ve followed Aidence for a number of years and are impressed by the team they’ve built and the progress they’ve made. Aidence has managed to cut through the hype surrounding AI and delivered a solution that fits into the workflow and helps radiologists do their work better. This is supported by the fact that the solution is being used in more than 10 hospitals and radiologists are using the software to improve care. The quality of the team, the technology and their vision for the future inspired us to lead this round of investment.”

 

“Mathijs Koens from Rabo Ventures comments: “With its practical AI solution for radiologists, Aidence fits very well with our ambition to contribute to improving the healthcare ecosystem and ultimately retaining affordable healthcare for all.”

 

To design Veye Chest, Aidence has assembled a stellar team of data scientists, software engineers and medical industry professionals. At the European Congress of Radiology, Europe’s largest radiology show in Vienna later this month, the world-renowned Royal Infirmary of Edinburgh hospital and the Edinburgh imaging facility QMRI will also present four abstracts as result of the collaboration on clinical validation for Veye Chest.

 

About Aidence

Amsterdam-based Aidence was founded in 2015 with the goal of improving medical diagnostics by applying deep learning. Its first product is Veye Chest, a solution for automated pulmonary nodule management on chest CT. For more information: https://aidence.com/

 

About INKEF

INKEF Capital is an Amsterdam-based venture capital firm that focuses on long-term collaboration and active support of innovative healthcare and technology companies. INKEF Capital was founded in 2010 by Dutch pension fund ABP and with €500 million under management it is one of the largest venture capital funds in the Netherlands. INKEF focuses on investment opportunities in Healthcare, Technology, IT/New Media & FinTech. For more information: http://www.INKEF.com

 

About Rabo Ventures
Rabo Ventures is part of Rabo Corporate Investments, the captive investment arm of Rabobank. Rabo Ventures invests seed and early growth capital in innovative companies in support to the mission of Rabobank: Growing a Better World Together. From Rabo Ventures, we are dedicated to fulfilling a supporting role and building value by leveraging Rabobank’s network, knowledge and position for the benefit of the companies we invest in the Netherlands (healthcare, sustainability, smart industries and food & agri) and globally (food & agri).”

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CDPQ to Become Largest Shareholder in Allied Universal

CdpqCaisse de dépôt et placement du Québec (“CDPQ”) announced today a major investment in Allied Universal (the “Company”), the leading security services provider in North America, alongside company management and Warburg Pincus and Wendel, its current financial partners. The transaction values Allied Universal at more than US$7 billion.

The investment from CDPQ will support the long-term growth and strategy of the largest provider of integrated manned guarding security services in North America. Part of CDPQ’s investment also consists of up to approximately $400 million of primary capital which will be used by the Company to pursue its growth strategy and execute on its pipeline of attractive M&A opportunities.

With annual revenues of approximately US$7 billion and more than 210,000 employees at over 38,000 client sites, Allied Universal is the largest and fastest growing security solutions provider in North America. The Company offers a mix of comprehensive manned guarding security services and innovative technology solutions, including systems integration and remote monitoring, to a broad and diversified group of customers.

“I am very proud to have one of the world’s leading institutional investors commit to Allied Universal and back our vision for success”, said Steve Jones, Chief Executive Officer of Allied Universal. “Our team has worked hard to build the best security company in the world.  We are all excited about the future of Allied Universal as well as our plans for continuing to grow both organically and through strategic acquisitions in both the manned guarding and technology sectors. We look forward to accomplishing great things with CDPQ as our long-term partner.”

“This investment, which represents one of the largest private transactions in business services, enables us to invest in a national leader in facility and security services, a sector that will continue to experience sustained organic growth and industry consolidation,” commented Stephane Etroy, Executive Vice-President and Head of Private Equity at CDPQ. “We look forward to supporting Allied Universal’s talented management team as they continue to grow this world-class business and build on its track record of providing its clients a customized mix of manned guarding and security technology solutions.”

Advisors

Citigroup Global Markets Inc. acted as financial advisor to CDPQ, and Kirkland & Ellis LLP acted as legal counsel to CDPQ. Barclays and Morgan Stanley & Co. LLC acted as financial advisors to Allied Universal, and Cleary Gottlieb Steen & Hamilton LLP acted as legal counsel to Allied Universal.

Transaction Process

The transaction is expected to close in the third quarter of 2019, following customary closing conditions, including regulatory approvals.

ABOUT ALLIED UNIVERSAL

Allied Universal, a leading security and facility services company with over 210,000 employees, provides unparalleled security services and solutions. The enterprise combines people and technology to deliver evolving, tailored solutions that allow our clients to focus on their core business. An unrelenting focus on clients’ success creates partnerships rooted in quality and value, and is supported by experience gained from being in business for over 60 years. Through our people and leading services, systems and solutions…Allied Universal is there for you. For more information, please visit www.aus.com.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2018, it held CA$308.3 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

– 30 –

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Parcom Capital has reached an agreement on its investment in Nedac Sorbo Mascot (NSM)

ParcomParcom

Parcom Capital and Robert van der Wallen will acquire the shares of NSM – a specialist in development, distribution and marketing of non- and near-food essentials – from Capital A (previously known as ABN AMRO Participaties) and NPM Capital. H2 Equity Partners and management will increase their respective shareholdings in the company.

NSM’s management and H2 Equity Partners are pleased with the investment of its new majority shareholder. Wouter Meijerink, CEO of NSM: “The combination of Parcom Capital and Robert van der Wallen provides knowledge and a network and capital which will be highly valuable in realising NSM’s growth ambitions to further expand its platform and consolidate the market in Western Europe.” Gert Jan van der Hoeven, Managing Partner of H2 Equity Partners: “In the last few years, a lot of progress has been made and we have realised a significant transformation in our company as well as for our clients. I look forward to entering the next phase of growth together with this successful management team, Parcom Capital and Robert van der Wallen.”

Parcom Capital provides specialist knowledge and guides companies through phases of sustainable growth and transformation. Allard Jacobs, Managing Director: “Nedac Sorbo Mascot is an ambitious company with an excellent position in the non-food category at leading food and non-food retailers. This category is changing enormously and NSM has proven its ability to provide retailers with creative and cost-effective solutions that can help shape this transformation.”

Parcom Capital is a Dutch private equity firm that partners with entrepreneurs and management teams to realise their growth ambitions. Since 1982, Parcom has supported more than 80 (international) companies, mostly in co-investment and close cooperation with the founders. Recent investments include TAF, Altrex, Simpel, Jan Snel, GoodHabitz, Euroma, ConDoor and Viroclinics.

Nedac Sorbo Mascot has circa €250 million in revenue and is located in Duiven (headquarters – NL), Hoorn (NL), Beendonk (BE), Bath (UK), Leiston (UK) and Liederbach (DE).

The transaction is pending approval of the ACM (Autoriteit Consument & Markt) and other customary conditions. It is expected that the transaction will be finalised in the coming months.

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Francisco Partners Makes Growth Investment in Civitas Learning

Franciso Partners

Backing from leading technology and education investors will accelerate growth and support the further unification of Civitas Learning’s student success solutions

AUSTIN, TEX. — Civitas Learning today announced a significant growth investment from Francisco Partners, alongside current education and impact investors including Rethink Education, SJF Ventures, and Lumina Foundation. The Austin-based company pioneered the use of advanced data science, design thinking, and machine learning to inform initiatives and improve student outcomes.

More than 350 colleges or universities worldwide now use Civitas Learning’s popular cloud-based platform and Student Success Suite to engage and nudge students, guide course planning and class scheduling, and support case management by advisors and faculty. By integrating data from historically disparate sources, institutions can also use the platform to measure the impact of the wide array of student success initiatives across their institutions.

“In the seven years since we launched with our first cohort of partners, the application of advanced analytics for student success has undergone a dramatic evolution, and is now making a profound impact on institutional policy, practice, and student outcomes,” said Charles Thornburgh, Co-Founder of Civitas Learning. “This investment enables our team to continue delivering on the promise of personalized and actionable intelligence for colleges and universities, while supporting the integration required to streamline and deploy our solutions quickly, seamlessly, and at scale.”

One of the nation’s most active growth investors in education technology, Francisco Partners previously led investments in several leading education software companies, including Discovery Education, a leading provider of digital content to K-12 education, and Renaissance, whose popular curriculum and tools are now used in more than one-third of U.S. schools.

“Civitas Learning pioneered the application of data science and machine learning in education in ways that have already changed the trajectory for tens of thousands of students,” said Jonathan Murphy at Francisco Partners. “They are positioned to significantly increase their educational and social impact, and we are excited about partnering with the team to accelerate the company to new levels of growth and impact across higher education.”

About Francisco Partners

Francisco Partners is an investment firm that specializes in technology and technology-enabled services businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information, please visit www.franciscopartners.com.

About Civitas Learning

Civitas Learning is a student success intelligence platform leveraging each institution’s unique data to find and distribute the clearest path to improved higher education outcomes. We do this through our leading-edge technology, design thinking, and data science to achieve our goal to help a million more students. Today, Civitas Learning is a strategic partner to more than 350 colleges and universities, serving nearly 8 million students. Together with our growing community of partners, Civitas Learning is making the most of the world’s learning data to graduate a million more students per year by 2025. For more information, please visit www.civitaslearning.com.

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Eres’ management team enters into exclusive negotiations with IK Investment Partners

ik-investment-partners

IK Investment Partners, a Pan-European private equity leader, announces that the IK VIII Fund has entered into exclusive negotiations to acquire a majority stake in Eres alongside the group’s management team and employees.

Eres, which is owned by its management team and Parquest Capital, is the leading French independent player in the advisory and structuring, asset management and distribution of employee profit sharing plans (PEE, PEI, PERCO and PERCOI), retirement schemes (PERP, PERE) and employee shareholding plans. Eres distributes its products through a network of more than 2,400 distributors (wealth management advisors, insurance brokers, accountants) and addresses directly Mid-sized companies and large groups.

The terms of the proposed transaction, which aims at enabling Eres to accelerate its development, are not disclosed.

Parties involved:

IK Investment Partners: Rémi Buttiaux, Dan Soudry, Thomas Grob, Vincent Elriz, Guillaume Veber
M&A advisor: Messier Maris & Associés (Driss Mernissi, Jérémy Langlois, Laura Scolan)
Legal advisors: Ayache Salama (Olivier Tordjman, Gwenaëlle de Kerviler)
Strategic advisor: Roland Berger (Christophe Angoulvant, Jean-Michel Cagin)
Financial advisor: Eight Advisory (Lionnel Gerard, François Gallizia)
Legal and tax due diligence: Ernst & Young (Matthieu Dautriat, Géraldine Roch)

Eres: Jérôme Dedeyan, Olivier de Fontenay, Nicolas Vachon, Hervé Righenzi de Villers, Mathieu Chauvin, Alexis de Rozières, Pierre-Emmanuel Sassonia
Parquest Capital: Pierre Decré, Thomas Babinet, Guillaume Brian
M&A advisor: Cambon Partners (David Salabi, Guillaume Eymar, Vincent Ruffat)
Legal advisor: Volt Associés (Lucas d’Orgeval, François-Joseph Brix)
Financial advisor: Grant Thornton (Emmanuel Riou)
Legal and tax due diligence: CMS Francis Lefebvre Avocats (Anne Grousset, Helena Vrignaud)

Financing Legal advisors: Ayache Salama (Alain Lévy, David Puzenat)

Unitranche debt funds: Hayfin (Fabrice Damien, Cécile Davies), Barings (Benjamin Gillet), Bridgepoint Credit (Olivier Meary, Maxime Alban)

Legal advisors for debt funds: Alerion (Stanislas Curien)

For further questions, please contact:

IK Investment Partners
Rémi Buttiaux, Partner
Phone: +44 207 304 43 00

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

About Eres
Eres has established itself as the leader within employee profit sharing (PEE, PEI, PERCO and PERCOI) and retirement schemes (PERP, PERE, article 83), thanks to a distribution network composed of independent wealth management advisors, insurance brokers and accountants. Since its inception, more than 2,400 distributors have become partners. Eres manages €2.3 billion in assets under management and has nearly 13,000 client companies and more than 160,000 employee beneficiaries in very small groups as well as large companies.

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised close to €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Parquest Capital
Set up in 2002, Parquest Capital is an independent investment firm with a well-established franchise on the French mid-market segment. Since its creation, Parquest Capital has achieved 25 investments under a philosophy of providing long-term support for projects with ambitious growth prospects, working alongside their management teams. In 2017, Parquest Capital successfully raised €310 million for its second fund since it gained independence from the ING Group in 2014. For more information: www.parquest.fr

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