Marks KKR’s Third U.S. Industrials Middle-Market Deal This Year
COMMERCE CITY, Colo. & NEW YORK–(BUSINESS WIRE)–Nov. 19, 2018– Global investment firm KKR has entered into an agreement to acquire GeoStabilization International® (“GSI” or the “Company”), a leading provider of geotechnical maintenance services for critical infrastructure across the United States and Canada, from CAI Capital Partners (“CAI”). This transaction marks KKR’s third acquisition of a middle-market business in the industrials sector this year. The transaction, the financial details of which were not disclosed, is being funded through KKR’s Americas XII Fund.
GSI is a leading provider of landslide repair and rockfall mitigation services in the United States and Canada, developing and implementing innovative solutions that remediate geohazards in order to restore the safe operability of impacted infrastructure. The Company has established a strong reputation for its ability to serve as a partner of choice due to its national scale, as well as its integrated design, engineering, and execution capabilities. GSI focuses solely on its core mission of geohazard mitigation, with a passion across all its teammates for developing and installing proprietary solutions that protect people and infrastructure from the dangers of geohazards. Due to GSI’s unique focus, the Company is an innovation leader in its approach of using integrated teams of geologists, geotechnical engineers, and remediation technicians who work hand in hand leveraging proprietary and patented GSI technologies including their Soil Nail Launcher, Biowall System, ScourMicropiles, and SuperNails.
“We are thrilled to work with GSI and its leading management team to build upon the Company’s track record of excellent service in improving the safety of our infrastructure as GSI enters this new chapter,” said Pete Stavros, Member of KKR and Head of KKR’s Industrials investment team. “We have been particularly impressed by GSI’s long track record of strong organic growth, which we attribute to the Company’s innovative technology offerings, focus on customer service and responsiveness, and strong leadership under CEO Colby Barrett and his team. Given the importance of GSI’s many employees to the Company’s success, in partnership with Colby, we plan to implement a broad-based employee ownership and engagement model at GSI, similar to what we have done at our other industrials portfolio companies.”
Colby Barrett, GSI CEO, said, “We are very excited to work with KKR as we enter this new phase of our growth. KKR shares our vision for a strong, employee-focused culture, our relentless focus on safety, and our enthusiasm to invest in innovation to deepen our service capabilities and even better serve our customers across markets. We would also like to thank CAI for the support they have provided, which has helped us to build this current foundation upon which we will continue growing.”
Over the past seven years, KKR’s Industrials team has focused on employee engagement as a key driver in building stronger businesses. The cornerstone of the strategy has been to allow all employees to take part in the benefits of ownership by granting them the opportunity to participate in the equity return directly alongside KKR. KKR also supports employee engagement by investing in training across multiple functional areas, driving improvements in worker safety and by partnering with the workforce to give back in the community.
This transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close by year-end 2018. Fully committed financing has been led by lead arrangers UBS Securities LLC and KKR Capital Markets. KKR was advised in the transaction by Kirkland & Ellis LLP. GSI and CAI were advised by William Blair and Perkins Coie LLP.
About GeoStabilization International®
Founded in 2002, GSI is a leading provider of complex geotechnical maintenance services for critical infrastructure across the U.S. and Canada. The company develops and implements innovative solutions that protect from dangers associated with geohazards that have either caused, or have the potential to cause, catastrophic infrastructure failures and significant economic disruption. For more information, please visit www.geostabilization.com.
About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
For more information about KKR’s Industrials team and the employee engagement model please visit the KKR Industrials page on LinkedIn, @KKR_Industrials on Twitter and KKR Industrials on YouTube.
About CAI Capital Partners
CAI Capital Partners is a Vancouver-based private equity firm focused on partnering with and growing founder-owned businesses in the Canadian lower middle market. Over three decades, CAI has invested C$1.4 billion into companies across North America. For additional information about CAI, please visit www.caifunds.com.
Source: KKR
Media
KKR
Kristi Huller or Samantha Norquist, 212-750-8300
media@kkr.com
CVC to acquire 20% of European leader in cash-free services for transportation, toll and further mobility services.
CVC Capital Partners Fund VII (“CVC”) today signed an agreement to acquire a 20-percent stake in DKV Mobility Services Group (“DKV”). The family shareholders, who are currently the sole owners of the company, will remain majority shareholders with an 80-percent stake following the closing of the transaction. The parties have agreed not to disclose the purchase price. The transaction is subject to the customary approval process by the relevant regulatory authorities. Closing is expected for the first quarter of 2019.
DKV is a European leader in cash-free services en route for commercial goods and passenger transportation, toll and further mobility services. To its 170,000 customers in more than 40 European countries, the company offers the industry’s largest supply network with more than 72,000 acceptance points. Throughout Europe, DKV generated sales of 7.2 billion Euros in 2017 and its workforce consists of about 1,000 employees. Since its incorporation in 1934, DKV has become a leading, award-winning mobility services provider with over 3.1 million fuel cards and on-board units in circulation.
CVC will support the company in accelerating its successful growth strategy in close cooperation with the majority owners and management. Strategic priorities will include the further digitalisation of DKV’s business model and the extension of its service offering. Going forward, DKV will extensively benefit from CVC’s entrepreneurial expertise and large international network.
In the past years, CVC has partnered with numerous family entrepreneurs and founders, with the CVC Funds investing in their companies. CVC Funds’ portfolio in Germany impressively proves this approach: The founders and family shareholders of Douglas and Tipico are still co-invested in the companies. Recently, CVC has engaged in a strategic partnership with the Messer family, in order to create a globally leading specialist for industrial gases.
UniCredit and Commerzbank serve as financial advisors to family shareholder, Taylor Wessing as legal counsel. Royal Bank of Canada is mandated as financial advisor to CVC, while GÖRG serves as CVC’s legal counsel.
The stretch from Venjar to Eidsvoll North is nine kilometers and comprises about four kilometers of new track parallel to existing track, and five kilometers of new double track. NJD will be responsible for the works related to track, contact lead, electro, signal and power supply.
Acting CEO, Jan Erik Aas comments: “The contract Venjar – Eidsvoll North will give NJD an all-time-high order back log, reason for continued optimism and a good foundation for achieving our ambitious growth targets.”
Camel-IDS, a Brussels-based company developing cancer-targeted radiopharmaceuticals today announced the completion of a series-A financing round, whereby the company secured funding of EUR 37 million. Gimv, who leads this round together with V-Bio Ventures, invests EUR 6 million. They are joined by HealthCap, Novo Seeds, Pontifax and BioMedPartners. This financing, which is one of the larger rounds of a European early-stage life sciences company, will enable Camel-IDS to run a phase Ib/II trial with its lead program targeting brain metastatic breast cancer, while further progressing and broadening its preclinical pipeline.
Camel-IDS (www.camel-ids.com), which was founded in 2014 as a spin-off from Vrije Universiteit Brussel (VUB), develops novel radiopharmaceuticals, using camelid domain antibodies linked to radionuclides. Breast cancer patients with tumors that overexpress HER2, a growth-promoting protein, can benefit from effective targeted treatments today. However, they have a poor prognosis when the cancer progresses towards the brain. Camel-IDS’ lead program shall be used to effectively irradiate such brain lesions while sparing healthy tissue. This is based on its unique technology platform that leverages the favourable tissue distribution of camelid derived single domain antibodies linked to radionuclides.
Karl Naegler, Partner in Gimv’s Health & Care platform, adds: ‘From early on in our discussions, the renowned expertise of the Camel-IDS’ team in radio-immunotherapy became clear, with Prof. Tony Lahoutte bringing exceptional knowledge to the table. Together with Ruth Devenyns as CEO, an industry veteran of the European biotech landscape and successful entrepreneur, the company is well positioned to move up to the next level.’
This investment marks Gimv’s 4th investment in the life sciences, medtech and healthcare sector this year, thus further underpinning Gimv’s position as one of the most active European investors in the healthcare industry. Moreover, this brings the total number of portfolio companies in the Health & Care investment platform to no less than 21.
For further information, we refer to the company’s press release in attachment.
Fortitude Re Launches Brand
NEW YORK – American International Group, Inc. (NYSE: AIG) and The Carlyle Group (NASDAQ: CG) announced today that Carlyle completed its acquisition of a 19.9% stake in Fortitude Group Holdings, LLC, whose group companies operate as Fortitude Re (formerly DSA Re). The transaction was first announced on August 1, 2018, and closed following receipt of regulatory approvals and satisfaction of other customary closing conditions.
Fortitude Re’s new name represents the company’s focus on and expertise in managing long-dated, complex risks. Fortitude Re has also launched its website, http://www.Fortitude-re.com, which provides more information about the organization and its leadership.
James Bracken, Chief Executive Officer of Fortitude Re, said, “We are hard at work building Fortitude Re for long-term success. The closing of Carlyle’s investment and brand launch are two key milestones on that journey.”
Brian Schreiber, Managing Director and Co-Head of Carlyle Global Financial Services Partners, said, “We look forward to working with our partners at AIG and Fortitude Re to grow the business and extend Carlyle’s asset management platform.”
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About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.
AIG Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
The Carlyle Group Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, our financial results, our liquidity and capital resources, contingencies, our distribution policy, and other non-historical statements. Such forward-looking statements are subject to various risks, uncertainties, assumptions and other important factors that could cause actual outcomes or results to differ materially from those indicated in these statements including, but not limited to, those described under the section entitled “Risk Factors” in our most recent Annual Report on Form 10-K filed with the SEC, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Contacts:
AIG
Investors: Liz Werner; +1-212-770-7074; elizabeth.werner@aig.com
Media: Daniel O’Donnell; +1-212-770-3141; daniel.odonnell@aig.com
The Carlyle Group
Investors: Daniel Harris; +1-212-813-4527; daniel.harris@carlyle.com Media: Christa Zipf; +1-212-813-4578; christa.zipf@carlyle.com
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Utrecht (The Netherlands), Cambridge (United States) – Respiratory device producer Vapotherm, Inc. announced its Initial Public Offering and listing on the NYSE exchange. Shares in the IPO are issued to institutional investors in the US and Europe, raising gross proceeds of $56 million. The offering was significantly oversubscribed. The total market capitalisation of Vapotherm will be $244 million at the introduction price and shares will trade under the ticker symbol VAPO.
The new funds enable Vapotherm to continue ramping sales of its Hi-VNI® technology in the US and Europe. Vapotherm’s Hi-VNI® treats patients in respiratory distress in the neo-natal intensive care unit (ICU), the adult ICU, the emergency department, post-acute care and for patients in hospice. The technology has been proven equivalent to the gold standard of non-invasive ventilation, however can be delivered without the need for a mask, providing patients with more comfort and flexibility in their care.
In addition to ramping sales with existing products, Vapotherm will use proceeds from the IPO to pursue an aggressive product development program which includes products which automate the delivery of oxygen based on feedback from a patient’s oxygen levels; and a portable device which has the potential to be used in expanded clinical settings, including the home.
Gilde Healthcare acted as lead investor in the Series B financing for Vapotherm and will remain represented on the board of Vapotherm post listing. During Gilde’s investment period Vapotherm tripled US and International revenues, established a highly specialized direct sales force, and dramatically increased gross margins.
Bank of America Merrill Lynch and William Blair acted as Joint Bookrunners in connection with the IPO. Canaccord Genuity acted as lead manager and BTIG acted as co-manager.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing €1 billion across two business lines: a venture & growth capital fund and a private equity fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare services companies with a focus on the Benelux and DACH-region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com
Eurazeo PME, Eurazeo’s division specializing in medium-sized companies, has received a firm offer to
purchase all of its interest in Vignal Lighting Group from EMZ Partners. Thus, Eurazeo PME has entered into
exclusive negotiations with the Private Equity firm until January 2019. The divestment project will soon be
subject to consultation with the relevant staff representative institutions.
Eurazeo PME acquired a majority stake in Vignal Lighting Group, global leader in lighting for on and off-road
specialty vehicles, in February 2014, working together with Jean-Louis Coutin and the company’s
management team to the transformation of the Group. The transaction, should it occur, would allow
Eurazeo PME to make €119M proceeds from the sale, including the 2016 repayment of the bonds for €27M,
representing a multiple of 2.8x its initial investment.
With Eurazeo PME as its majority shareholder, Vignal has conducted its significant transformation from an
European player in signaling for trucks and trailers to the global leader in lighting for on-road and off-road
specialty vehicles. The acquisition and integration of ABL Lights (2014) and CEA (2016) have supported the
group to offer a comprehensive and complementary product ranges on diversified end-markets (trucks,
construction, mining, handling, agriculture) and geographies (Europe, Americas, Asia) both in OEM and
aftermarket segments. Since 2014, the group has sped up its international expansion, benefitting from
significant cross-selling between product ranges and set-up of a direct presence in the US and in Asia.
Supported by Eurazeo PME, the group has invested in its industrialization across the three continents, with
in particular a new 11,500 sqm industrial and R&D center in Corbas and the opening of a new plant in China.
The group’s turnover more than doubled over the period from €47M in 2013 to €106M in 2017.
Pierre Meignen, Managing Director and Member of Eurazeo PME’s Management Board, declared: “With
the management of Vignal Lighting Group, we have had, since our acquisition, great ambitions to transform
the company in France and internationally. Thanks to the quality of its managers and employees, Vignal
Lighting Group fully respects its strategic roadmap by combining organic growth with external growth,
allowing for a significant expansion of its product range as well as expansion into new markets.”
About Vignal Lighting Group
Vignal Lighting Group is specialized in designing, manufacturing and marketing of lighting and signaling products and systems for industrial and commercial vehicles. It is the result of the combination in 2014 of Vignal Systems and ABL Lights. Both companies gained over time an international recognition in their respective fields thanks to innovative and high-quality products. In 2016, Vignal Lighting Group extends once again its product ranges with the acquisition of the company CEA SA based in Rancate, Switzerland, specialized in beacons and safety products for special vehicles especially in the agricultural field. Vignal Lighting Group also has production sites in the United States and China. With a staff of c. 500 persons, Vignal Lighting Group generated in 2017 a turnover of higher than €106M.
The R&D centers are located in France in the industrial areas of Lyon and Caen and in Rancate, Switzerland.
About Eurazeo PME
A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and deployed through a CSR (Corporate Social Responsibility) policy.
Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following
companies: 2RH, Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK
Direct Group, Orolia, Smile, In’Tech Medical and Vitaprotech. These companies are solidly established within their
market and driven by experienced management teams.
Munich, November 13
In course of a succession settlement , AUCTUS has acquired a share in the Berlin-based Contus Group. The Contus Group – Berlin Brandenburg is an active player in the construction industry as a full-service provider for installation, maintenance and repair of electric, heating and sanitary facilities, especially in residential properties (but also other types of real estate).
The company has been family-owned since shortly after its foundation in 1991. With this transaction, AUCTUS enabled a smooth generation change by acquiring the father’s shares, while the son stays shareholder and CEO of the company. Being based in Berlin, the Contus Group – Berlin Brandenburg is ideally located to serve the most dynamic markets for renovation and new-building construction in Germany, since there is an urgent housing shortage and a high share of very old residential real estate in the region. The Contus Group- Berlin Brandenburg is one of the few companies in Berlin capable of offering the so-called “Strangsanierung”: Fast-paced renovation processes allow residents to leave their unrenovated home in the morning and come back to their fully renovated home in the evening of the same day! This is a great USP, since tenant satisfaction (and, therefore, no bad publicity or damage claims) is of utmost importance to housing companies.
Moreover, in 2010, the Contus Group – Berlin Brandenburg has won the “Grand Prix of the ‘Mittelstand’”, a renowned award that confirms the success of Contus Group’s business model.
Currently, the company generates a total output of EURm 25 and shall expand Germany-wide via add-on acquisitions.
AUCTUS is with 14 investment professionals and more than 160 investments in the last 17 years the leading Private Equity firm in the German-speaking SME sector. We particularly focus on a sector-specific ‘Buy-and-Build’ strategies in which up to 30 national and international companies are merged to form a market leader. Our portfolio companies grow on average by 10% per year in employees, revenues and income. Within the last years AUCTUS received dozens of awards for being the best German-speaking fund as well as for being the best Buy-and Build fund.
AUCTUS Capital Partners AG
T +49 (0) 89 15 90 700-0
Email: info@auctus.com
www.auctus.com
Nordic Healthcare Group (NHG), a Finnish healthcare and social services advisory and analytics company, is expanding its value-based services in the Nordic Countries. NHG employs more than 100 professionals that help its clients develop influential services for future needs. NHG is the leading player in its field in Finland and aims to be the market leader in the Nordic Countries.
”NHG helps its clients build value-based health and social service operations by integrating cost, quality and customer experience data and analytics in their operations and management systems. We want to build better social services and healthcare in the Nordic Countries, with the vision of building a value-based service system. We combine analytics with expertise and experience in solving critical challenges and implementing the best practices”, says Vesa Kämäräinen, President & CEO of Nordic Healthcare Group.
Value-based delivery is a global megatrend in the social and healthcare sector and it is enabled by technological advances. Cost pressures, demographic changes and the consumerisation of healthcare have given rise to the need for measuring value in social and healthcare services, both in the Nordic Countries and globally. Value is measured by health outcomes relative to the cost of delivery.
To implement the company’s growth strategy, NHG and private equity firm Vaaka Partners have completed a transaction in which Vaaka Partners invests in Nordic Healthcare Group. Vaaka Partners is an active and growth-oriented partner that has been involved in the successful growth and internationalisation of a number of Finnish companies, such as Framery, Solita and Musti ja Mirri.
Vaaka Partners’ investment will accelerate the implementation of NHG’s Nordic growth strategy and enable acquisitions, investments in R&D and the development of competencies. The aim is to build on NHG’s existing strengths to create a Nordic company focused on the advancement of value-based healthcare and social services in the Nordic Countries. NHG’s ambition is to be the leading social and healthcare advisory and analytics company in the Nordics.
“We have contributed to NHG’s growth strategy and will be able to support the company in its implementation. NHG has superior expertise in its field, within the domains of analytics, service, leadership and management development, as well as transformation, which has great international potential. We are looking forward to supporting NHG’s key personnel in the implementation of the business plan together with an experienced Board”, says Antti Salmela of Vaaka Partners.
The parties have agreed that the terms of the transaction will not be disclosed. After the transaction, Nordic Healthcare Group will be owned by Vaaka Partners, the key personnel and founders of NHG and the members and advisors of the Board of Directors. In addition to the representatives of Vaaka, NHG’s Board of Directors will consist of Juko Hakala (Chairman), Marianne Saarikko Janson, Hannu Vaajoensuu and Petri Parvinen.
Additional information:
Nordic Healthcare Group
Vesa Kämäräinen, President & CEO
vesa.kamarainen@nhg.fi
+358 50 545 9025
Vaaka Partners Ltd
Antti Salmela, Partner
antti.salmela@vaakapartners.fi
+358 50 540 4640
Nordic Healthcare Group
Nordic Healthcare Group is a Finnish growth company founded in 2004. Our clients include hospital districts, municipalities, private service providers, pharmaceutical companies, private equity investors and healthcare technology companies. We employ more than 100 experienced professionals and young talents. Read more at www.nhg.fi
Nested, the startup that simplifies selling your home, has raised £120m in funds as they continue to disrupt estate agency in the UK. The round consists of £100m in debt financing from an institutional investor, and £20m in equity from leading European VCs Northzone and Balderton Capital, bringing total funding for the growing business to £165m.
Launched in 2016, Nested is the first estate agent to make home sellers chain-free. The company
provide a cash advance on the value of the property enabling customers to become cash buyers,
speeding up the process of moving home. Since launching, Nested has experienced rapid growth, helping over 400 homeowners during a period of market uncertainty with home sales falling 12% over the last year and 61% of homes for sale in London withdrawing from the market without selling, an effect of a slowing market in anticipation of Brexit.
Nested is driven by a mission to fix the broken housing market, bringing honesty to a traditionally opaque industry. In addition to the unique cash advance, Nested have built a strong reputation with customers for transparent and data-driven valuations, offering vastly improved accuracy compared to high-street estate agents. To back-up it’s ability to value homes accurately, Nested make their valuation performance public.
Matt Robinson, CEO of Nested, said: “We’re excited to receive the backing from some of Europe’s top VCs who share our vision for fixing the age-old problem of buying and selling homes. We are building an incredible team to offer an unassailable service with the most progressive technology in the property industry. This investment will allow us to continue solving the problems that prevent people from moving home with ease.”
Jeppe Zink, Partner at Northzone, said: “Selling a home is the biggest and most important transaction most people undertake. Yet the sales process remains opaque, with the resulting never-ending property chains becoming the bane of the industry. I was immediately convinced by Matt’s vision for Nested to fix this, giving home-sellers an accurate view, backed by an advance, of the price they can achieve for their property. This means they can have peace of mind and the freedom to focus on securing their new dream home. I truly believe that Nested can be a fundamental game-changer and we are incredibly excited to be part of the journey.”
1 12% decrease in Residential Property Transactions from Sept 2017 to Sept 2018: HMRC Property Transactions
2 61% of homes listed for sale in London withdraw from the market: Dataloft & Reapit
3 Nested sell for an average of 1.5% more than the average valuation: Nested Performance
About Nested: Fixing home selling in the UK
Nested is an estate agent with a difference. It provides home sellers with up to 95% of their homes value when they need it and the rest when it sells, helping them to secure their dream home and providing certainty in an uncertain market. The innovative start-up was founded by established entrepreneurs, Matt Robinson (former GoCardless co-founder and current Board member) Phil Cowans (former Songkick CTO) and trained architect, James Turford.
Nested does all the work of a traditional estate agent, but unlike other agents it provides additional
value-add services including; experts at every step of the process including a dedicated progression
team, data-driven, transparent valuations, and an advance of up to 95% of the market value. If the home sells above this amount the seller will receive that too (minus their fees) and if it sells for less, Nested will take the loss.
