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Clinisupplies Acquires Great Bear Healthcare to Expand Direct-to-patient Chronic Care Services in the Community

LONDON–(BUSINESS WIRE)– Clinisupplies, a leading manufacturer and supplier of continence care consumables, today announced the acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of continence products for managing acute and chronic conditions.

Clinisupplies and Great Bear Healthcare are both growing organisations predominately focused on the UK healthcare market for continence products. The two companies provide continence care nursing services to support the NHS and offer a dedicated home delivery service for continence care products to patients’ homes.

Great Bear Healthcare is the first acquisition since Clinisupplies became a KKR portfolio company in January 2023 and is allied to the ambition of building an international chronic care medical devices platform.

Paul Cook, CEO of Clinisupplies, commented: “Becoming part of the KKR network and leveraging their team’s expertise helps us to support more consumers and engage with more healthcare professionals. Great Bear is the perfect fit for Clinisupplies to strengthen our core business in the UK and create a platform for future growth. We look very much forward to working with the Great Bear team and continuing the great work of founders who created a successful organisation.”

Al Hale, CEO of Great Bear, commented: “Clinisupplies is the right organisation to take Great Bear onto the next stage of its growth journey. The last 16 years has seen Great Bear grow from a new entrant to a strong player within the UK continence market. The investment which Clinisupplies is now able to bring to the organisation will enable further growth to support more patients across the UK.”

KKR invested in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth healthcare companies. KKR has a long track record of supporting healthcare companies globally, having invested approximately $19 billion in the sector since 2004.

About Clinisupplies
Clinisupplies is a leading UK-based manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. Employing over 500 people in the UK, China and India, Clinisupplies supplies its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

About Great Bear
Great Bear Healthcare is a UK-based manufacturer and supplier of continence care products and operates the home delivery service Nightingale. The company was created in 2007 with the aim of developing a high-quality range of continence products to enable people to live the life they want to lead.

Great Bear has grown consistently and today employs more than 120 people working across Great Bear & Nightingale home delivery service. Great Bear is headquartered in Cardiff with home delivery services based in Cardiff & Bridgwater.

Please visit www.greatbearhealthcare.co.uk for further information.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

FGS Global
Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Source: KKR & Co. Inc.

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Ardian agrees to sell d&b Group to Providence

Ardian

Worldwide leading provider of high-end audio systems and AVLM services for the event sector plans to continue international growth achieved with the support of Ardian with new owner, Providence.

Ardian, a world-leading private investment house, has sold its majority stake in Cubes Holding GmbH (“d&b”) to Providence. Since acquisition in 2016, Ardian has supported the company and its management team, led by CEO Amnon Harman, on a dynamic path of strong organic growth and geographic expansion. As part of the transaction, d&b’s management team will re-invest alongside Providence and continue to successfully develop the company.

Founded in 1981 and headquartered in Backnang, Germany, d&b is one of the world’s leading providers of professional audio technology and AVLM (Audio, Video, Light & Media) solutions to create unique, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services.

With Ardian’s support, d&b has consistently delivered strong growth, achieving a double-digit compound annual growth rate (CAGR) since 2016, despite the temporary market disruption in the events sector caused by the COVID 19 pandemic. Since Ardian’s acquisition, the number of employees has tripled from around 350 to more than 1,000. The company’s growth has been driven by innovations, the expansion of the product and solutions portfolio, and the development of existing and new markets, particularly in the Americas as well as the APAC region. The strategic development of the company was delivered by both organic growth and targeted acquisitions.

“The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world’s leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share. Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.” Amnon Harman, CEO of d&b Group

“We would like to thank Amnon Harman and his team for their hard work, unwavering commitment and, above all, the trust they have placed in us over the past seven years. d&b has an outstanding corporate culture that is embodied by each and every employee. The contribution of all d&b colleagues has been essential to the Group’s success, including significant growth, a strategic transformation and strong international positioning. We are proud to have accompanied d&b on this journey together and we wish the entire team and Providence the very best for the next chapter in the company’s history.” Alexander Friedrich, Managing Director Buyout, Ardian and Stefan Kappis, Director Buyout, Ardian

“d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, clear market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b will continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our solid track record of investing in live entertainment and technology companies, we are confident Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.” Robert Sudo, Managing Director, Providence

“The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b’s addressable opportunities. We were impressed by d&b’s passionate management team and with Providence’s resources and network, we are committed to supporting d&b’s strategic plan.” Andrew Tisdale, Senior Managing Director, Providence

The parties have agreed not to disclose the financial details of the transaction, which is still subject to approval by the relevant antitrust authorities.

PARTIES INVOLVED IN THE TRANSACTION

  • Ardian

    • Ardian: Alexander Friedrich, Stefan Kappis, Christian Koch, Stefanie Arndt
    • M&A: Macquarie Capital (Florian Geiger / Sung-Duk Kim / Anthony Youssafi) & Goldman Sachs (Tobias Köster / Tibor Kossa / Fredrik Weege)
    • Legal: Milbank (Dr. Norbert Rieger / Dr. Matthias Schell / Dr. Thomas Ingenhoven)
    • Financial: PwC (Peter Gröninger / Daniel Haas)
    • Commercial: McKinsey & Co. (Dr. Isabel Huber / Salvador Martinez)
    • Tax: Taxess (Gerald Thomas / Richard Schäfer)
    • ESG: Indefi (Emmanuel Parmentier)

  • Providence

    • Providence: Andrew Tisdale, Robert Sudo, Daniel Zwicky
    • M&A: Alantra (Wolfram Schmerl), UniCredit (Michal Lehocky, Marcel Kus)
    • Legal: White & Case (Dr. Stefan Koch), Allen & Overy (Vanessa Xu)
    • Tax: EY

ABOUT D&B

The d&b Group provides professional audio technology and AVLM solutions to create memorable, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services.
Founded in Germany in 1981, d&b headquarters are located in Backnang, near Stuttgart. With offices in major cities around the world, the global d&b team numbers more than 1000 professionals.

www.dbgroup.de www.dbaudio.com www.dbsolutions.com

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Beter Bed Holding and Torqx Capital Partners agree on recommended all-cash offer

Torqx Capital

Torqx Capital Partners is pleased to announce that it has reached a conditional agreement with Beter Bed Holding on an intended recommended all-cash public offer for 100% of the shares in Beter Bed Holding with an offer price of EUR 6.10 per share, representing a significant premium of approximately 107% to Beter Bed’s closing price per share on 7 July 2023 of EUR 2.95.

Torqx and Beter Bed Holding strongly believe that private ownership will be instrumental to Beter Bed’s continued success during the next phase of its development and shall be beneficial for all stakeholders. It will allow Beter Bed management to fully focus on the long-term strategic plan and accelerate both organic and in-organic growth of the company.

Harmen Geerts, Managing Partner & Chief Investment Officer of Torqx Capital Partners: “Beter Bed has a robust strategy in place with the right components for growth and long-term success. We recognize the quality and commitment of the management team, having a clear vision where to steer the company, combined with strong execution skills.”

After settlement Torqx will become majority shareholder. Three long-term and dedicated shareholders in Beter Bed Holding – Navitas Capital, Teslin Participaties Coöperatief UA and investor De Engh B.V. – will re-invest in the company after successful completion of the offer.

Based on the required steps and subject to the necessary approvals, Torqx and Beter Bed Holding anticipate that the offer will close ultimately beginning of 2024.

The joint press release announcing the public offer for Beter Bed Holding can be found on our website.

Link to webpage with press release

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Providence Acquires d&b Group from Ardian

Providence

Leading global provider of high-end audio, video, light & media solutions for the event sector to continue international growth

LONDON – 10 JULY 2023 – Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced its acquisition of a majority interest in d&b Group (“d&b”) – with the registered name of Cubes Holding GmbH – from Ardian. The existing management team is re-investing and will continue to lead day-to-day operations following completion. Financial terms were not disclosed.

Headquartered in Backnang, Germany, d&b is one of the world’s leading providers of professional audio technology and end-to-end Audio, Video, Light & Media (“AVLM”) solutions for live entertainment. d&b operates through d&b audiotechnik, which offers high quality audio systems for installation projects and rentals, as well as d&b solutions – which offers comprehensive service solutions across audio, video, lighting, and extended reality.

In the last 10 years, d&b has evolved organically and through acquisitions from a loudspeaker manufacturer to a premier event technology company with over 1,000 employees globally. Select global customers include the Sydney Opera House, Amsterdam Arena, Royal Albert Hall, Wembley Stadium, BBC, and ITV Sport.

Providence has prior experience partnering with innovative businesses specialising in technology and live entertainment solutions in Europe and North America.

The transaction is expected to close by October 31, 2023, subject to necessary and customary closing conditions.

Robert Sudo, Managing Director at Providence, said: “In our view, d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b can continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our prior experience investing in live entertainment and technology companies, we believe Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.”

Andrew Tisdale, Senior Managing Director at Providence, added: “The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b’s addressable opportunities. We were impressed by d&b’s passionate management team and, with Providence’s resources and network, we are committed to supporting d&b’s strategic plan.”

Amnon Harman, Chief Executive Officer of d&b, said:

The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world’s leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share.

Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.”

Dr. Alexander Friedrich, Managing Director of Buyouts, and Stefan Kappis, Director of Buyouts at Ardian, said: “We would like to thank Amnon Harman and his team for their hard work, unwavering commitment and, above all, the trust they have placed in us over the past seven years. d&b has an outstanding corporate culture that is embodied by each and every employee. The contribution of all d&b colleagues has been essential to the Group’s success, including significant growth, a strategic transformation and strong international positioning. We are proud to have accompanied d&b on this journey together and we wish the entire team and Providence the very best for the next chapter in the company’s history.”

Alantra and Unicredit served as financial advisors to Providence, and White & Case and Allen & Overy as legal counsel. Intermediate Capital Group arranged financing.

About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $35 billion across more than 170 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.

About d&b Group
The d&b Group provides professional audio technology and AVLM solutions to create memorable, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services. Founded in Germany in 1981, d&b headquarters are located in Backnang, near Stuttgart. With offices in major cities around the world, the global d&b team numbers more than 1000 professionals.

 

 

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Bausch Health Enters Into $600 Million Financing Facility With KKR

KKR

LAVAL, QC / ACCESSWIRE / July 7, 2023 / Bausch Health Companies Inc. (NYSE/TSX:BHC) and KKR today announced that Bausch Receivables Funding LP, an Ontario limited partnership and wholly-owned subsidiary of Bausch Health, has entered into a $600 million non-recourse financing facility with KKR and its credit funds and accounts. The facility will be collateralized by certain accounts receivables originated by a wholly-owned subsidiary of Bausch Health.

Bausch Health expects to utilize the proceeds from the facility for general corporate purposes. The facility provides access to additional liquidity for a term of approximately five years.

Houlihan Lokey, Inc. acted as the Company’s financial advisor. Finacity Corporation acted as the administrator for the program, providing analytic and execution support, and is responsible for ongoing program administration and reporting.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global diversified pharmaceutical company whose mission is to improve people’s lives with our health care products. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through our controlling interest in Bausch + Lomb. With our leading durable brands, we are delivering on our commitments as we build an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements About Bausch Health
This news release may contain forward-looking statements about the future performance of Bausch Health, which may generally be identified by the use of the words “anticipates,” “hopes,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “believes,” “subject to” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health’s overall business, including those more fully described in Bausch Health’s most recent annual report on Form 10-K and detailed from time to time in Bausch Health’s other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Finacity

Finacity, a White Oak Global Advisors Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $150 billion. With resources in the USA, Europe, Latin America, and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing, and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.

###

Investor Contact: Media Contact:
Mark Maico Kevin Wiggins
ir@bauschhealth.com corporate.communications@bauschhealth.com
(877) 281-6642 (toll free) (908) 541-3785
Julia Kosygina
media@kkr.com
(212) 750-8300

SOURCE: Bausch Health Companies Inc

Categories: News

KKR Invests in Perú’s First Open Access Fiber Optic Network to Bridge the Digital Divide and Increase Competition in the Market

KKR
  • Leading global investment firm KKR agrees to acquire a majority interest in PangeaCo and the fiber optic networks of Telefónica del Perú and Entel Perú
  • KKR plans approximately US$200 million of additional investment to accelerate expansion of ultra-fast digital infrastructure to more than double the network to at least 5.2 million homes passed across Perú by the end of 2026
  • KKR will own a 54% controlling interest in Perú’s first independent open access wholesale fiber optic network, with 36% owned by Telefónica Hispanoamérica and 10% owned by Entel Perú

LIMA, Peru & NEW YORK–(BUSINESS WIRE)– KKR, Telefónica Hispanoamérica, and Entel today announced agreements under which KKR will acquire a majority interest in PangeaCo and the existing fiber optic networks of Telefónica del Perú and Entel Perú to build Perú’s first nationwide open access wholesale fiber optics company with the mission to bring greater access to fiber optics connectivity across the country. The transaction will combine the existing fiber optic networks of PangeaCo, Telefónica del Perú, and Entel Perú into an independent company controlled by KKR. The newly formed network will be open access, allowing usage to all internet service providers for the first time. KKR plans to make approximately US$200 million of additional investment to more than double the ultra-fast fiber network from more than 2 million homes passed today to reach 5.2 million homes passed across 86 provinces by the end of 2026.

Under the terms of the agreement, KKR will acquire a controlling interest in PangeaCo, which will subsequently acquire the existing fiber optic networks of Telefónica del Perú and Entel Perú. Through the combination of these networks, KKR will establish ON*NET Fibra de Perú as the new name for the platform which will independently build and operate the nation’s largest fiber optic network with world-class quality standards. KKR will own a 54% interest in ON*NET Fibra de Perú alongside Telefónica Hispanoamérica, which will own 36%, and Entel Perú, which will own 10%.

The entire ON*NET Fibra de Perú fiber optic network will be open to use by all internet service providers, increasing competition in the wholesale market. Telefónica del Perú and Entel Perú will be anchor tenants on the expanded open access network, enabling both providers to reach a greater number of customers with ultra-high-speed offerings. The transaction does not impact the services provided by existing customers of PangeaCo, Telefónica del Perú or Entel Perú. Upon closing of the transaction, customers will benefit from the scale of the larger network.

In Perú, approximately 88% of households have mobile or fixed internet service, but less than 35% have access to high-speed fiber optic networks.1 KKR, as the controlling shareholder, intends for ON*NET Fibra de Perú to more than double the households reached by fiber optic network, including reaching municipal areas outside of Lima as well as middle- and low-income households. This transaction demonstrates continued investor confidence in Peruvian infrastructure and the commitment of the companies to contribute to the sustainable development of the digital connectivity in the country.

Today’s announcement builds on KKR’s success in expanding nationwide connectivity and increasing competition in Chile and Colombia. ON*NET Fibra de Chile has expanded access from 2.4 million homes passed to 3.7 million homes passed since KKR signed the acquisition in February 2021 and ON*NET Fibra de Colombia has increased homes passed from 1.2 million to 2.4 million since signing in July 2021.2 Both companies have attracted multiple internet service providers to utilize their open access networks.

KKR is making the investment through its KKR Global Infrastructure Investors III fund and plans to provide operational support to ON*NET Fibra de Perú through NEXO LatAm, a digital infrastructure business supporting KKR’s Infrastructure strategy across Latin America. KKR and NEXO LatAm have significant experience supporting the successful expansion of open access fiber optic investments.

The transaction is subject to regulatory approvals, including the approval of the Peruvian antitrust agency (INDECOPI).

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Telefónica Hispanoamérica

Telefónica is one of the largest telecommunications service providers in Spanish America. The company operates under the Movistar trademark and offers fixed broadband connectivity -with FTTH solutions- and mobile services with 4G and 5G networks (the latter in Chile and Mexico), as well as a wide range of digital services for more than 110 million residential and business customers across the region. Telefónica Hispam offers its services in: Mexico, Colombia, Venezuela, Perú, Ecuador, Uruguay, Chile and Argentina.

About Entel

With more than 58 years of experience, Entel is a leader in technology and telecommunications with operations in Chile and Perú, where it has more than 20 million mobile subscribers. The company offers mobile and fixed connectivity services, as well as a wide range of digital and IT services in the consumer (B2C), business and large corporate (B2B) segments. In both countries it also provides wholesale and call center services. For all its services, it offers simple and efficient experiences, backed by a robust, state-of-the-art infrastructure and a solid brand image and customer service.

_________________
1 Sources: OSIPTEL “Residential Survey of Telecommunications Services” (December 2021) and Omdia Fiber Development Index 2022 (October 2022).
2 Figures as of December 2022.

Media Contacts:

For KKR:
Azerta (For KKR Peru):
Leslie Salas
lsalas@azerta.pe
KKR@Azerta.pe

For KKR Americas:
Miles Radcliffe-Trenner and Emily Cummings
media@kkr.com

For Telefónica:
Dulce Jiménez
prensa.hispam@telefonica.com

For Entel:
Press Contact (Entel Perú):
Estrella Malpica
emalpica@tocasociados.com

Investor Contact (Entel Chile):
Paula Raventós – Santiago Uauy
ir@entel.cl

Source: KKR

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Bain Capital Private Equity to acquire FIS

BainCapital

LONDON and MONTECCHIO MAGGIORE, Italy – 7th July 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, and Nine Trees Group S.p.A. (“NTG”)¸ the holding company of the Ferrari Family, announce that they have reached binding agreements (subject to customary conditions precedent) for the acquisition by Bain Capital of the entire NTG’s shareholding in FIS – Fabbrica Italiana Sintetici S.p.A. (“FIS” or the “Company”), a leading developer and manufacturer of small molecule active pharmaceutical ingredients (APIs) and intermediates.

 

Founded in 1957 by the Ferrari Family in Montecchio Maggiore, FIS has a long history of pharmaceutical technical innovation and is recognised globally for its differentiated capabilities and deep technical expertise. Over the years FIS has become the development and manufacturing partner of choice for top blue-chip pharmaceutical companies around the world for custom and generic API synthesis. In 2022, the Company generated sales of approximately €700M in 70 countries and more than 300 customers around the globe, with a network of three world-class manufacturing facilities based in Italy, employing more than 2,000 people, including 250 R&D scientists, and having in its portfolio 25 of the 200 best-selling small molecules in the world.

 

“In over 60 years of history, the Ferrari Family has created, developed and continuously supported FIS – Fabbrica Italiana Sintetici, leading it to become the leader of the small molecule and active pharmaceutical ingredients sector in Italy, and one of the best-in-class developers and manufacturers in Europe and Globally. Today FIS is ideally positioned to further grow and expand internationally to become one of the world leaders in the APIs / small molecule industry. The Ferrari Family has found in Bain Capital an ideal partner who can drive the future growth of the business into the next phase, considering its significant industrial experience and operational resources. We are thankful to the FIS Management team led by Michele Gavino (CEO) and Manuel Barreca (CFO) and to all FIS employees and stakeholders for the successful path carried on together so far. We would also like to thank all the people that have contributed to this successful transaction” said Giampaolo Ferrari, Alessandro Ferrari and Andrea Cappellato Ferrari, respectively Chairman and Managing Directors of NTG and FIS.

 

“FIS Management Team is very proud of the results achieved by the Company in recent years and the work that we are doing together with our customers and partners in developing cutting-edge technologies and continuing to create sustainable and responsible innovation in the APIs and small-molecule sector. We thank the Ferrari Family for all the continued support provided to the Company and we are looking forward to be working with Bain Capital and drive FIS to further grow and become the global industry leader in the APIs / small molecule industry”, said Michele Gavino, CEO of FIS and Manuel Barreca, CFO of FIS.

 

“Our investment in FIS marks a strategically important transaction for Bain Capital Private Equity in Europe, consistent with our thematic investment approach to the pharmaceutical industry. We were impressed by FIS’ deep expertise in complex chemistry, differentiated development capabilities, and strong relationships with Pharma and Biotech customers. We have high conviction in the industry’s growth prospects and are excited to support the development and manufacture of innovative and life-saving therapies for patients worldwide,” said Christina Dix and Benjamin Kunstler, Partners and Co-Heads of European Healthcare at Bain Capital Private Equity.

 

“The acquisition of FIS is perfectly aligned with our long track record of successful partnerships with family-owned business and further builds on our successful Italian franchise. We are honoured to partner with the Ferrari family and to accompany FIS in its next phase of growth,” said Ivano Sessa, Partner at Bain Capital Private Equity.

NTG’s financial advisors were Houlihan Lokey and Zulli Tabanelli & Associati. Orsingher Ortu Avvocati Associati provided legal advice and PwC worked on the vendor due diligence.

 

Bain Capital has been advised by Mediobanca, Nomura, Latham & Watkins, Advancy, Bain & Company, PwC, Pirola Pennuto Zei & Associati and InterPharmaLink.

 

The transaction remains subject to approvals by competent regulatory authorities.

 

 

About FIS – Fabbrica Italiana Sintetici / NTG:

FIS – Fabbrica Italiana Sintetici S.p.A.

FIS (FIS – Fabbrica Italiana Sintetici SpA) was founded in 1957 in Montecchio Maggiore (VI) by the Ferrari family, which maintains ownership to this day. It’s a leader in Italy and one of the major operators in Europe in the production of active ingredients for the industry pharmaceutical and operates 3 plants in Italy: Montecchio Maggiore (VI), Termoli (CB) and Lonigo (VI). FIS belongs to the Nine Trees Group, and is also present in the USA (FIS North America), Japan (FIS Japan), and in China with a representative office. With a turnover of around 700 million euros, the company now has over 2000 employees, of which 250 are dedicated to research and development. Michele Gavino has led the company as Chief Executive Officer since February 2021.

 

For more information, visit: https://www.fisvi.com

 

 

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

 

For more information, please visit: www.baincapitalprivateequity.com

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IK Partners completes acquisition of Medica Group

IK Partners

Press Release
Friday, 7 July 2023

IK Partners (“IK”) is pleased to announce that the IK IX Fund has completed its acquisition of Medica Group Plc (LSE:MGP) (“Medica” or “the Group”), a market-leading teleradiology provider in the UK and Ireland and provider of imaging solutions to clinical trials in the US. Representing IK’s fourth platform investment in the UK, the acquisition of Medica was made through Moonlight Bidco Limited (“Bidco”), a newly incorporated wholly owned subsidiary of funds advised by IK.

Following shareholder approval on Friday, 9 June 2023, the acquisition became effective on Thursday, 6 July 2023 and Medica has now been de-listed from the London Stock Exchange.

Founded in 2004 and headquartered in Hastings, UK, Medica is a leading healthcare services provider with operations in the UK, Ireland and US. With over 400 employees globally, the Group has a network of more than 750 radiologists, radiographers and specialist doctors who serve over 200 clients worldwide. In the UK and Ireland, Medica provides a fast and reliable reporting service (including out-of-hours) for MRI, CT, Ultrasound and X-Ray to more than 100 National Health Service (“NHS”) trusts, the Irish Health Service Executive (“HSE”) and independent sector organisations. Through its subsidiary in the US, RadMD, Medica provides high-quality imaging services for clinical trials within the pharmaceuticals, biotechnology and medical device industries, with particular expertise in oncology. Within the area of clinical trials, Medica has, to date, contributed to over 600 studies globally.

IK’s focus will be on supporting the Group to continue delivering high-quality services to its customers, with a strong emphasis on maintaining high standards of clinical governance and sub-speciality expertise offered by its network of over 750 outstanding radiologists, radiographers and specialist doctors. IK’s investment will support Medica and its management team to continue investing in its people, technology and new capabilities, both organically and through M&A.

IK has a well-established track record of investing in successful companies across the Healthcare sector and to date, has invested in 23 healthcare companies across Europe, deploying approximately €2.1 billion of capital.

Stuart Quin, CEO of Medica Group, said: “Since inception, Medica has gone from strength-to-strength, becoming an international provider of high-quality telemedicine services, imaging services for clinical trials and a market-leading teleradiology provider in the UK and Ireland. This, coupled with the outstanding contributions of our employees as well as a dedicated network of exceptional radiologists, radiographers and specialist doctors, has enabled us to continue improving patient outcomes by delivering the highest quality service. As we embark on the next phase of Medica’s growth, we look forward to working closely with the team at IK, whom we believe is best placed to support us given their active partnering approach and understanding of our markets. This represents an exciting next step as we continue to provide high-quality reporting to support our customers and lead the way in telemedicine.”

Pete Wilson, Partner and Advisor to the IK IX Fund, added: “We are delighted to complete the acquisition of Medica and begin working with Stuart and his team to drive continued strong growth. The Group provides critical services to a broad range of healthcare providers and is contributing, in partnership with its customers, to help clear imaging backlogs, reduce waiting times and ultimately improve clinical outcomes. We look forward to supporting the business in achieving its mission to lead the way in delivering collaborative and responsive telemedicine solutions that put patient outcomes at the heart of what they do.”

 

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 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. For more information, visit www.ikpartners.com

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About Medica Group

Medica is the teleradiology market leader, providing hospital radiology departments with independent support to address serious capacity issues in both urgent and non-urgent reporting pathways. Founded in 2004 and headquartered in Hastings, UK, Medica has operations in the UK, Ireland and US. With over 400 employees globally, the Group has a network of more than 750 radiologists, radiographers and specialist doctors who serve over 200 clients worldwide. For more information, visit www.medica.co.uk

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Ratos company Presis Infra secures new contracts amounting to NOK 2.3 billion in the first half of 2023

Ratos

During the first half of 2023, Ratos company Presis Infra, which specialises in the maintenance of critical infrastructure including ferry quay operation and maintenance, and rockfall protection in Norway and Sweden, was awarded new contracts amounting to NOK 2.3 billion. The contracts were signed with existing customers and with terms from 2023 to 2028.

“We are delighted that Presis Infra’s performance in the first half of 2023 was so positive. Maintenance of critical infrastructure will play an important role in the future, and Presis Infra has what it takes to succeed and the expertise to do so in a cost-efficient and sustainable manner,” says Christian Johansson Gebauer, Board member of Presis Infra and President Business Area Construction & Services, Ratos.

The contracts were signed with Norwegian municipalities, the Norwegian Public Roads Administration (NPRA) and the Swedish Transport Administration, and the projects encompassed by the contracts are spread throughout Norway and Sweden.

“We are proud of the confidence our client has shown in us and look forward to continuing our productive partnership. We are especially proud that we have significantly increased our market share in Norway while also securing two contracts in Sweden, which is a new market for us,” says Eivind Iden, CEO, Presis Infra.

Performance since Ratos acquired Presis Infra in 2021
Ratos acquired 75% of Presis Infra in 2021 as a platform investment in the expansive future industry of infrastructure maintenance. Since the acquisition, the company has continued to deliver a positive performance, with sales of NOK 2,344m in the last 12 months as of the end of the first quarter of 2023.

For more information and media, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Lazeo Welcomes Significant Investment from Blackstone

Blackstone

LONDON, UK and PARIS, FRANCE – July 6, 2023 – Lazeo, the number one provider of aesthetic medicine services in France, today announced that funds managed by Blackstone Tactical Opportunities (“Blackstone”), have agreed to make a significant investment in the Company. Financial terms of the transaction were not disclosed.

Headquartered in Paris, Lazeo is a founder-led, family-owned provider of non-invasive aesthetic medicine services including laser hair removal, injectables, body contouring, and medical-grade facials. Founded in 2010 by Dr. Bernard and Dimitri Sillam with a single location in Paris, Lazeo has grown to become the number one provider in France with 135 locations, five in Belgium and significant runway for further expansion in both existing and new markets. In 2023, Lazeo entered Germany with the acquisition of Munich-based Cleanskin.

This partnership with Blackstone will support Lazeo’s continued growth and help meaningfully scale its operations and ongoing expansion. Dimitri Sillam, Co-Founder and Chief Executive Officer, will continue to run day-to-day operations of the Company.

Dimitri Sillam, Co-Founder and CEO at Lazeo, said: “We are thrilled and honoured to partner with Blackstone for the next phase of our growth journey. Blackstone shares in our vision to make Lazeo into a European champion in aesthetic medicine, and we look forward to working together to build on our significant success to date.”

Raphael de Botton, Senior Managing Director at Blackstone, said: “Providing capital to a family-founded company is a hallmark of Blackstone Tactical Opportunities and we are delighted to partner with Bernard, Dimitri and the Lazeo team.

“Lazeo is a high-growth market leader with clear brand recognition in a sector with strong industry tailwinds and meaningful value-add opportunities. Together with the Sillam family, Blackstone will support Lazeo in capitalising on its leadership position in France, while expanding its operations in Europe.”

The transaction is subject to regulatory approvals and other customary closing conditions.

Press Contacts:

Lazeo
Scarlett Sillam
+33 6 84 60 35 16

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com
+44 (0)7918 360372

The Leverage Advisory on behalf of Blackstone
Florence Sabourin
fsabourin@theleverageadvisory.eu
+33 6 07 62 47 36

About Lazeo
Lazeo is the leading aesthetic medicine provider in France, with over 140 fully owned locations across France, Belgium, and Germany, and over 800 employees. Lazeo provides safe, non-invasive treatments at the forefront of innovation for maximum effectiveness and comfort, with treatments that are tailored to meet the needs and requirements of each client. Lazeo was founded in 2010 by Dr. Bernard Sillam and Dimitri Sillam.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

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