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Gilde-buy-out-partners appoints head of investor relations and co investments

Gilde Buy Out

Utrecht / Brussels / Zurich – Gilde Buy Out Partners (Gilde) is pleased to announce that Maikel Wieland has joined Gilde as Head of Investor Relations and Co-investments. “Maikel has significant experience in investor relations,” said Ralph Wyss, Chairman of Gilde Buy Out Partners. “The relationship with our limited partners and the investment community as a whole are as important to Gilde as ever. Professional responsiveness and sustainable long-term relationship are key to our future success. Maikel will be a tremendous resource to our LP base, and we are thrilled to have him on board.” Previously, Maikel worked for OTPP’s direct and co-investment team in London and in Investment Banking for Merrill Lynch and Credit Suisse.

About Gilde Buy Out Partners

With offices in the Benelux and DACH region, Gilde Buy Out Partners is a leading European private equity investor in mid-market transactions. Founded in 1982, Gilde has been supporting management teams in over 100 buy out transactions. Today Gilde manages funds in excess of €3 billion and has a controlling interest in companies such as Royal Ten Cate, ZND, Reesink, Amor, T-group, Albelli, Riri, Comcave, Oystershell and Losberger De Boer Group. For more information: Gilde Buy Out Partners Maikel Wieland T: +41 43 268 20 78 E: wieland@gilde.com www.gilde.com Read more at: http://gilde.com/news/2018/gilde-buy-out-partners-appoints-head-of-investor-relations-and-co-investments

Categories: People

Litorina invests in Bergfalk

Litorina

Litorina V AB acquires a majority of the shares in Bergfalk, a leading Swedish distributor within fresh food with focus on meat, fish and shellfish. The company has a turnover of over SEK 500 million and offers high quality fresh food to restaurants in Sweden and Finland as well as to grocery retailers. Bergfalk’s former main owners and management will remain as significant owners going forward.

Bergfalk was founded in Stockholm in 1840 and has since grown its turnover to about SEK 550 million. Sweden is the dominant market for the company and in 2016, operations were also established in Finland. Bergfalk offers high quality fresh food to restaurants and grocery retailers, where the restaurant segment accounts for a clear majority of sales. The company has built a strong market position and a respected brand by offering expertise, product quality and refinement combined with local presence, speed, flexibility and good service levels.

“We are very proud of the fantastic growth Bergfalk has achieved in recent years. We have built a strong organisation with talented employees and a well-regarded brand and are looking forward to take the next step in the development by further strengthening our market position, both organically and through more acquisitions” says Lars Bengtsson, CEO and co-owner in Bergfalk. “It feels exciting to continue the journey in close partnership with Litorina and take advantage of their solid experience of building companies and their wide network of industrial advisors who can help us continue our rapid growth and take Bergfalk to the next level.”

“Bergfalk’s strong market position and customer focus combined with management’s proven ability to drive growth, both organically and through acquisitions, make the company an excellent platform for further development and continued expansion.” says Lars Verneholt, Partner at Litorina V Advisor AB, investment advisor to Litorina V AB. “Bergfalk is an exciting investment and we look forward to supporting management in driving the continued development of the company, not least through an intensified acquisition focus in a fragmented market.”

For further information, please contact:
Lars Verneholt, +46 733 86 92 07, Partner, Litorina V Advisor AB
Lars Bengtsson, +46 70 523 30 02, CEO, Bergfalk Group AB

  

Bergfalk was founded in 1840 and is a leading Swedish distributor within fresh food with focus on meat, fish and shellfish. The company offers high quality fresh food to restaurants in Sweden and Finland as well as to grocery retailers. Bergfalk has a turnover of about SEK 550 million and has c.140 employees with headquarters in Stockholm. For more information, please visit www.bergfalk.se.

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina V Advisor AB serves as an investment advisor to the Swedish private equity fund Litorina V AB. For more information, please visit www.litorina.se.

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Altano – Partnership with Equine Clinic Grosswallstad

January 2018

Partners and Friends of Ufenau Capital Partners, we are delighted to announce,that Ufenau portfolio company Altano Gruppe GmbH(“Altano”) has acquired Equine Clinic Grosswallstadt(“Pferdeklinik Grosswallstadt”) and therewith expands its geographical footprint in Germany.

The Equine Clinic Grosswallstadt is a leading regional Champion specializing in equine medical diagnostics and surgery. The 53 highly qualified employees including the two renowned vets Holger Fischer and Souel Maleh treat around 6,000 patients each year. The Equine Clinic has an outstanding reputation in surgery, equine dentistry, regenerative equine medicine including stem cell therapies as well as sports medicine in addition to the general, horse-medical treatment and therapy offer.

In addition, the clinic owns a physical therapy centre for post medical treatments. Dr. Holger Fischer, CEO of the Grosswallstadt Equine Clinic: “With Ufenau and Altano, we have found a partner who, at eye level, has a good understanding of the market in order to improveour equine clinic sustainably.”

Dr. Victor Baltus, CEO of Altano, adds: “This third acquisition within 6 months is another important step in strengthening the regional presence of Altano in the greater Rhine-Main area.

We are delighted that we have found such a great partner with the Equine Clinic Grosswallstadt.”

Yours sincerely,

the Ufenau Team

 

 

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Healthcare and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.

 

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TenderEasy complements Alpega with its transport procurement software and expertise

Castik Capital

Stockholm / Luxembourg – Alpega, a leading global logistics software company, has completed the acquisition of TenderEasy AB, Stockholm, effective as per December 31st 2017. The majority in Alpega is owned by funds managed by Castik Capital, the European private equity investment firm.

TenderEasy complements Alpega with its freight tendering software solution that is offered to customers across verticals and geographies. The company was founded in 2004 in Stockholm and launched its freight contract tendering solution in 2012. Since then, many reputable customers have been won who manage a substantial multi-modal freight tendering volume using TenderEasy. The company will be led by CEO and Founder Johan Vagerstam together with CTO and Founder Anders Åbjörn, as well as CCO Fredrik Nergell.

TenderEasy strategically broadens the product portfolio and geographic reach of the Alpega Group as it provides a critical add-on solution to Alpega’s Transportation Management Software (“TMS”) brands inet and Transwide. Customers of the tendering solution will benefit from the Alpega network of over 50,000 on-boarded carriers for sourcing transport providers.

While the TenderEasy solution will continue to be available stand-alone, it will also be technically integrated with the inet and Transwide products. This combines the freight tendering solution of TenderEasy with the TMS of Alpega to provide its customers with a seamless user experience when using several products of the Group.

Alpega was formed in 2017 as a leading global logistics software company that offers end-to-end solutions covering all transport needs, including TMS solutions and freight exchanges. Key products comprise:

  • inet – TMS solution for complex, multi-modal global transportation networks including unique dynamic optimization capabilities
  • Transwide – TMS solution for shippers, logistics service providers and carriers to manage the end-to-end execution of transports
  • TAS-tms – Modular TMS solution that enables carriers and freight forwarders to manage the entire transport process
  • Teleroute – Pan-European freight exchange that connects to more than 30,000 carriers to offer and allocate shipments
  • Bursa Transport – Leading freight exchange in Romania to offer and allocate shipments for 16,000 users
  • 123 cargo – Freight exchange to offer and allocate shipments in the Central and South Eastern European countries

Alpega management and shareholders are looking forward to continuing the growth and development of the Group together with TenderEasy

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TenderEasy complements Alpega with its transport procurement software and expertise

Castik Capital

Stockholm / Luxembourg – Alpega, a leading global logistics software company, has completed the acquisition of TenderEasy AB, Stockholm, effective as per December 31st 2017. The majority in Alpega is owned by funds managed by Castik Capital, the European private equity investment firm.

TenderEasy complements Alpega with its freight tendering software solution that is offered to customers across verticals and geographies. The company was founded in 2004 in Stockholm and launched its freight contract tendering solution in 2012. Since then, many reputable customers have been won who manage a substantial multi-modal freight tendering volume using TenderEasy. The company will be led by CEO and Founder Johan Vagerstam together with CTO and Founder Anders Åbjörn, as well as CCO Fredrik Nergell.

TenderEasy strategically broadens the product portfolio and geographic reach of the Alpega Group as it provides a critical add-on solution to Alpega’s Transportation Management Software (“TMS”) brands inet and Transwide. Customers of the tendering solution will benefit from the Alpega network of over 50,000 on-boarded carriers for sourcing transport providers.

While the TenderEasy solution will continue to be available stand-alone, it will also be technically integrated with the inet and Transwide products. This combines the freight tendering solution of TenderEasy with the TMS of Alpega to provide its customers with a seamless user experience when using several products of the Group.

Alpega was formed in 2017 as a leading global logistics software company that offers end-to-end solutions covering all transport needs, including TMS solutions and freight exchanges. Key products comprise:

  • inet – TMS solution for complex, multi-modal global transportation networks including unique dynamic optimization capabilities
  • Transwide – TMS solution for shippers, logistics service providers and carriers to manage the end-to-end execution of transports
  • TAS-tms – Modular TMS solution that enables carriers and freight forwarders to manage the entire transport process
  • Teleroute – Pan-European freight exchange that connects to more than 30,000 carriers to offer and allocate shipments
  • Bursa Transport – Leading freight exchange in Romania to offer and allocate shipments for 16,000 users
  • 123 cargo – Freight exchange to offer and allocate shipments in the Central and South Eastern European countries

Alpega management and shareholders are looking forward to continuing the growth and development of the Group together with TenderEasy.

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EQT Credit provides financing to support Bosal Automotive Carrier and Protection Systems

eqt

EQT Credit, through its Mid-Market Credit investment strategy, announces today that it has agreed to provide senior secured financing for TowerBrook Capital Partners’ (“TowerBrook”) acquisition of Bosal Automotive Carrier and Protection Systems (“Bosal ACPS” or the “Company”) from Bosal Group.

Headquartered in Germany, Bosal ACPS is a leading manufacturer of tow bars for original equipment manufacturers and suppliers and for the aftermarket in Europe. The Company has manufacturing facilities in Europe and the Americas, generating sales in 2017 of approximately EUR 250 million.

Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Credit, commented: “Bosal ACPS is an established market-leader in the European OEM tow-bar segment. We are attracted by the Company’s long-term track record, product quality and history of technological leadership and innovation. EQT’s network of Industrial Advisors, with former senior executives in the automotive segment, provided key support throughout the due diligence process. EQT Credit looks forward to support Bosal ACPS and TowerBrook as they continue to execute on the plans for international growth and operational improvement.”

All parties have agreed to not disclose any financial details.

Contacts:
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit, +44 207 430 5554
Nakul Sarin, Director at EQT Partners, Investment Advisor to EQT Credit, +44 208 432 5420
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 38 billion in raised capital across 25 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Credit
EQT Credit invests through three complementary strategies: senior debt, Mid-Market Credit (direct lending) and credit opportunities. Since inception, EQT Credit has invested approximately EUR 4.0 billion in 150 companies. EQT Credit’s direct lending strategy seeks to provide flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. These businesses may be privately-owned corporates seeking alternative funding to grow or be the subject of private equity-led acquisitions or refinancings.

For more information: www.eqtpartners.com/Investment-Strategies/Credit

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DIF completes the refinancing of a 30 MWac ground mounted solar PV portfolio

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DIF

Toronto, 9 January 2017 – DIF has completed the refinancing of a portfolio of 3 operational, ground-mounted solar PV projects located in Ontario, Canada. The DIF Infrastructure III fund owns 100% of the projects, which commenced operations in 2014 and 2015. The projects sell power pursuant to 20 year feed-in-tariff contracts with the Independent Electricity System Operator (formerly known as the Ontario Power Authority).

Natixis New York Branch, acting as the sole mandated lead arranger, together with Samsung Life Insurance Co. Ltd., Migdal Insurance Company Ltd., Migdal Makefet Pension and Provident Funds Ltd., and Raymond James Banks, NA as lenders, provided approximately CAD$180 million of senior debt facilities to refinance the existing debt.

The lenders were advised by McCarthy Tetrault LLP (legal), DNV KEMA Renewables Inc. (technical), and Intech Risk Management Inc. (insurance). DIF was advised by Torys LLP (legal), KPMG (tax), Riverside Risk Advisors (hedging), Mazars (model audit) and LCN Legal (UK legal).

For more information, please contact:

Christopher Mansfield, Partner
Email: c.mansfield@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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artners Group reports gross client demand of EUR 13 billion and new investments

Partners Group

Download press release 11.01.2018

Baar-Zug, Switzerland, 11 January 2018

Partners Group reports gross client demand of EUR 13 billion and new investments of USD 13 billion in 2017; total AuM up 14% to EUR 62 billion; guidance for 2018 gross client demand stands at EUR 11-14 billion

EUR 13 billion gross client demand in 2017; AuM stands at EUR 62 billion
Partners Group, the global private markets investment manager, received EUR 13.3 billion in new commitments from its global client base across all private markets asset classes in 2017. This demand for programs and mandates brings total assets under management (AuM) to EUR 61.9 billion as of 31 December 2017 (31 December 2016: EUR 54.2 billion) and represents net growth of 14%.

The breakdown of total AuM as of 31 December 2017 is as follows: EUR 32 billion private equity (51%), EUR 11 billion private debt (18%), EUR 11 billion private real estate (17%), and EUR 8 billion private infrastructure (14%).

AuM development in 2017

Gross client demand of EUR 13.3 billion in 2017 moderately exceeded the communicated expected bandwidth of EUR 10-12 billion for the full year. This record amount was based on the combination of a solid pipeline of investment opportunities and strong client demand for the firm’s flagship programs and mandates. Tail-down effects from mature private markets investment programs and redemptions from liquid and semi-liquid vehicles amounted to a total of EUR -4.1 billion in 2017 (guidance provided: EUR -3 to -4 billion).

Given that 36% of Partners Group’s AuM is USD-denominated, the weakening of the US Dollar against the Euro by 12% in 2017 negatively affected the firm’s total AuM in Euros. In 2017, foreign exchange effects amounted to EUR -2.9 billion. A positive contribution of EUR +1.4 billion stemmed mainly from performance-related effects from certain investment vehicles. Overall, this resulted in net AuM growth of EUR 7.8 billion during the period.

USD 13 billion invested in a highly disciplined manner
In 2017, Partners Group invested a total of USD 13.3 billion on behalf of its clients. The firm continued to take a highly disciplined and prudent approach to investment and maintained its high standards of selectivity in a market characterized by full valuations across all private markets asset classes. Investment professionals screened 3,843 direct transactions across all asset classes, investing in only 77 of them and registering a decline rate of 98%. Partners Group’s secondary investment specialists screened USD 137 billion in private markets assets and invested in less than 2% of these.

Christoph Rubeli, Partner and Co-Chief Executive Officer, comments: “Our investment approach across private markets is guided by both structural change as well as transformative trends. In particular, we focus on sectors benefiting from the global megatrends we believe have the ability to support assets in generating higher top-line growth than the rest of their industry. These include digital transformation, new generation living and consumption, and the energy revolution.”

Of the total amount of USD 13.3 billion invested, USD 8.3 billion (62% of total investment volume) was deployed in direct transactions, of which USD 4.1 billion was invested in individual assets across private equity, private real estate and private infrastructure and USD 4.2 billion was invested in corporate credits. The firm’s secondaries investment teams invested a total of USD 2.2 billion (17% of total investment volume) in globally diversified private markets portfolios. To complement its direct and secondary investments, the firm committed USD 2.8 billion (21% of total investment volume) to select private markets managers.

Client demand expected to be strong in 2018
For the full year 2018, Partners Group expects gross client demand of EUR 11-14 billion (2017: EUR 10-12 billion), together with EUR -4.5 to -5.5 billion (2017: EUR -3 to -4 billion) in tail-down effects from the more mature Partners Group programs and potential redemptions from liquid and semi-liquid programs.

André Frei, Partner and Co-Chief Executive Officer, comments: “Client demand in 2017 was characterized by the successful closing of a number of flagship programs across all private markets asset classes. We have started 2018 with a sustained pipeline of demand from clients across the globe, and expect the supportive fundraising environment to lead to similar results as last year.”

Conference call today
Partners Group’s senior management will hold a conference call today at 9am CET. Dial-in details can be obtained by using the contact details below. The annual results as of 31 December 2017 will be published on 20 March 2018.

Key dates 2018

20 March 2018 Annual results and report as of 31 December 2017

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Gilde Healthcare opens office in Frankfurt Germany

GIlde Healthcare

Utrecht, the Netherlands and Frankfurt am Main, Germany – Gilde Healthcare, the European specialist healthcare investor is pleased to announce the opening of its office in Frankfurt am Main, Germany.

The Frankfurt office will focus on healthcare service providers and suppliers headquartered in Germany, Austria and Switzerland (DACH). With its local presence, the Gilde Healthcare Team will provide collaborative, hands-on support to business owners and managers and help them execute their envisaged growth plans and buy & build strategies. Gilde Healthcare’s buy-out franchise concentrates on lower-mid-market companies which generate EBITDA between €2-15 million and are valued at Enterprise Values of up to €150 million. The equity ticket in a single transaction will amount up to €50 million.

Expansion into the DACH region is a logical step for Gilde Healthcare as it represents Europe’s largest healthcare market with an annual spend of more than €450 billion, a stable regulatory environment and well-funded insurance systems. The significant size of the healthcare industry allows Gilde Healthcare to invest in more than 40 sub-segments including care provider, pharma outsourcing service provider, medical products & equipment supplier, laboratories, medical IT companies etc. Gilde Healthcare is already active in the DACH region with its investment in RAD-X, an outpatient radiology chain. It invested in RAD-X in 2016 to consolidate the German, Swiss and French radiology market via a buy & build strategy.

The Frankfurt office will be headed by Dr Fabian Braemisch who joined Gilde Healthcare as a Partner of the healthcare buy-out team. He will be responsible for sourcing new DACH investments and work closely with management teams to support the portfolio companies’ growth plans and contribute specialist expertise through its operational partners and industry advisors. The German team will be complemented by additional investment professionals in the next 12 months.

Dr Braemisch is a German citizen and joined Gilde Healthcare from Bridgepoint, a pan-European Private Equity house, where he invested in larger-mid-market companies with a focus on Healthcare and Manufacturing & Industrials across Europe. Prior to that, Dr Braemisch worked in the Investment Banking Division of Goldman Sachs in both London and Frankfurt.

Jasper van Gorp, Managing Partner, comments:

“We believe that Gilde Healthcare can create significant value add not only for our investors but also for healthcare industry participants by combining our sector focus with local presence. The opening of a German office shall further strengthen our relationships with entrepreneurs, management teams and advisors to continue our successful buy-out strategy and help healthcare companies to provide ‘better care at lower cost’ across Europe.”

Fabian Braemisch, Partner and Head of Germany, comments:

“I am highly excited to join Gilde Healthcare and lead the German team’s investment efforts in the DACH market. There is a large pool of high-quality healthcare businesses with significant growth and consolidation opportunities and we are looking forward to working together with motivated Management teams to kick-start their companies’ next phase of growth.”

 

Background Information on Gilde Healthcare

Gilde Healthcare is a specialized European healthcare investor managing two business lines: lower mid-market buy-out funds and venture & growth capital funds. The Gilde Healthcare buy-out funds invest in profitable European healthcare services companies, e.g., healthcare providers, service providers and various suppliers in Europe with a focus on the Benelux and DACH regions. The venture & growth capital funds invest in medtech, digital health and therapeutics in Europe and North America. Since 2001 Gilde Healthcare has raised €800 million ($1 billion) for its specialized funds.

Contact Germany

Bockenheimer Landstrasse 2-4 | Opernturm
60306 Frankfurt am Main | Germany
Phone: +49 69 667 748 040
braemisch@gildehealthcare.com

Contact Netherlands
Newtonlaan 91 | PO Box 85067
3508 AB Utrecht | The Netherlands
Phone: +31 30 219 25 65

healthcare@gildehealthcare.com
www.gildehealthcare.com

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Meridian Capital advices SMITH & GREENE Company in its sale to EDWARD DON & Company

Seattle, Washington |  January 10, 2018 – Meridian Capital LLC (“Meridian”) is pleased to announce the acquisition of Smith & Greene Company by Edward Don & Company (“DON”), a portfolio company of Vestar Capital Partners (“Vestar”).  Meridian served as the exclusive financial advisor to Smith & Greene and its shareholders in the transaction with DON.
Smith & Greene, established in 1970 with headquarters in Kent, Washington, is a leading distributor of foodservice equipment and supplies. Over the past 48 years, its deep commitment to its customers and exceptional project execution capabilities have distinguished the Company as a premier supplier to foodservice solutions nationwide.  Smith & Greene will operate as a wholly owned subsidiary of Edward Don & Company and will remain under the leadership team of Brad Smith and Garrett Mullen as Co-Presidents.

“The Meridian team provided us with excellent guidance and support throughout the entire process.  Their ability to capture the key elements of the Smith & Greene story and communicate them to investors proved vital in maximizing our valuation,” commented Garrett Mullen, Co-President of Smith & Greene.  “Brad and I are very excited about the outcome and believe DON and Vestar will be excellent stewards of the culture and legacy we have cultivated over the last several decades.”

Founded in 1921 with headquarters in Woodridge, Illinois, Edward Don & Company is the world’s leading distributor of foodservice equipment and supplies. DON serves national and multi-unit account programs with flexible, customized solutions that meet the needs of both the corporate office and the individual units. As part of the DON family, Smith & Greene will operate as a key presence in the Pacific Northwest.

“We look forward to adding the resources of the Smith & Greene team in the Pacific Northwest Region,” said Steve Don, CEO of Edward Don & Company. “Smith & Greene has an outstanding reputation and great customer relationships in a very attractive geography.”

Brian Murphy, President and Managing Director of Meridian said, “We are thrilled for Brad and Garrett as well as their team.  Entering the transaction process, it was evident that Smith & Greene offered a unique combination of regional leadership and outstanding customer relationships.  We aimed to develop a highly tailored messaging campaign that highlighted these attributes to the leading investors in the industry.  DON represents the ideal partner that will provide Smith & Greene with the resources for continued growth.”

About Meridian Capital LLC
Meridian Capital (www.meridianllc.com), a Seattle-based M&A advisory firm, has served as a trusted advisor to business owners on complex corporate finance, M&A and strategic challenges for over 20 years. The firm differentiates itself through its deep industry insights, highly customized service approach, and end-to-end commitment to execution.  With a unique combination of financial, transactional and operation professionals on your side, Meridian offers the depth and breadth of experience required to serve leading middle market companies in multiple sectors including consumer, food and beverage, aerospace, manufacturing and technology.
Contact:
Brian Murphy
President & Managing Director
206.224.6156
bmurphy@meridianllc.com
Media Contact:

Lee Keller

The Keller Group

425.898.2700
lee@thekellergroup.com

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