CVC Credit Partners is the sole lender for MML Capital Partners’ buyout of Arrow Business Communications

Funding will support the acquisition and will help finance the company’s growth strategy

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has supported MML Capital Partners’ (“MML”) buyout of Arrow Business Communications (“Arrow”), from Growth Capital Partners. CVC Credit will provide a £70 million financing package including a senior term loan and a committed acquisition facility to support Arrow’s growth strategy.

Founded in 1995, Arrow specialises in telephony, data, IT and energy solutions for businesses. The business has a loyal and diversified customer base of over 5,000 SMEs, operating across all industry sectors. Arrow is headquartered near Godalming, UK, has a further eight regional offices throughout the UK and employs 245 FTEs.

Luke Jones at MML Capital Partners, commented: “We are pleased to have chosen CVC Credit Partners as our partner for the future development of Arrow Business Communications. Their experience of buy and build programmes coupled with their ability to quickly get to grips with both the complexities of the business and our growth strategy for it, made the decision to partner with them an easy one.”

Chris Fowler, Managing Director in CVC Credit Partners’ European Private Debt business, added: “We are excited and confident to support Arrow Business Communications through its next stage of growth. This is a high quality, resilient and cash generative business, operating in a market with strong underlying growth drivers and a broad pipeline of prospective new clients. We are also very pleased to be partnering with MML again, who have a strong track record of buy and builds within the unified communications and IT managed services space.”

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Ardian to acquire a stake in the Santé CIE Group alongside existing shareholders, HLD and UI Gestion

Ardian

Ardian will accompany the Santé Cie Group and its subsidiaries, Elivie and Asdia, in their international expansion and enlarging their expertise in the home medical assistance market

Paris, January 17, 2020 – Ardian, a world-leading private investment house, today announces that it has signed an agreement to acquire a majority stake in Santé Cie, a specialist in home medical assistance. Ardian will invest alongside HLD and UI Gestion, company shareholders since 2015, and the management team, to continue the consolidation of the French market and develop internationally.

With this investment, Ardian will enter the home medical assistance market. It offers the Group the opportunity to operate in a new, particularly attractive healthcare segment, while having a very positive social and societal impact. Santé Cie’s business addresses deep demographic, sociological and health challenges tied to an ageing population, an increasing prevalence of chronic illnesses, and a medical desertification in French rural areas.

Through its two operating networks, Elivie and Asdia, Santé Cie is among the most dynamic players in the home medical assistance sector in France. As a multi-specialist, it addresses the needs of patients in respiratory assistance, insulin therapy, perfusion, nutrition, post-operative care and wound treatment and healing. The company accompanies more than 150,000 patients annually and reported revenue of €240 million in 2019. It has nearly 1,700 employees and its 80 agencies offer services throughout France.

This transaction remains subject to antitrust approval and the opinion of the work council.

Larbi Hamidi, Chairman of Santé Cie: “This is a new impetus for our business. We’ll be able to actively contribute to consolidating the French market and launching our European expansion, but also investing in innovative solutions to improve the efficiency of care pathways in the face of new challenges posed by connected healthcare and telehealth.”

Jean-Bernard Lafonta, Chairman of HLD Europe, said: “We’re proud of Santé Cie’s journey since 2015 to have become one of the leading home medical assistance players in France. We’re delighted to continue our commitment alongside Santé Cie’s management to develop the business internationally and explore promising new segments such as dialysis at home.”

Olivier Jarrousse, Managing Partner of UI Gestion, added: “We’re very pleased with Santé Cie’s progress over the past 5 years and we wish to continue our active contribution to the Group’s development.”

Yann Bak, Managing Director in the Ardian Buyout team, said: ” We’re proud to enter Santé Cie’s share capital alongside existing shareholders and are confident that home medical assistance providers, by assisting patients and ensuring they are monitored by practitioners, have a role to play in the French healthcare value chain .”

Nicolas Darnaud, Managing Director in the Ardian Buyout team, added: “Santé Cie’s strong competitive advantages, its management, its scalable structure, its proven expansion and diversification capabilities, and its many growth options give it significant room for further growth in a fast-expanding market.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.Follow Ardian on Twitter @Ardian

ABOUT SANTE CIE

Created in 2016, Santé Cie is the third largest home healthcare provider in France, through its two operating networks Elivie and Asdia.
With the trust of healthcare professionals, the company supports nearly 150,000 home care patients, both children and adults, across France every day. It covers a wide range of therapeutic segments including perfusion, nutrition, insulin therapy, the treatment of Parkinson’s disease, respiratory assistance and wound treatment and healing.
By means of a medical prescription, the Elivie and Asdia teams set up all equipment required at home for the care of patients with chronic or acute illnesses. By ensuring the home care pathway, training and patient support and monitoring, the teams provide solutions to simplify and secure patient care at home, in constant contact with prescribers and in coordination with their entourage and all participants in the care chain (pharmacists, nurses, physiotherapists, etc.)
Santé Cie has nearly 1,700 employees across 80 agencies throughout France, through its Elivie and Asdia networks.

ABOUT HLD

Created in 2010 by Jean-Philippe Hecketsweiler, Jean-Bernard Lafonta and Philippe Donnet, HLD has experienced remarkable growth in the investment capital sector. The investment holding company now has 12 companies in France and Europe (including Tessi, Kiloutou, Coyote, Santé Cie and Rafaut), representing combined revenue of almost €2 billion and 17,000 employees. True to the wishes of its shareholders, which include many European entrepreneurs, including the Decaux, Dentressangle and Claude Bébéar families, HLD invests without any time constraints. This has enabled strong ties to be forged with portfolio company management, and HLD to support the long-term development of companies in Europe and internationally.
The HLD teams are currently present in Europe: Luxembourg, Paris, Milan and Zurich.

ABOUT UI GESTION

A historical investment capital player for 50 years, UI Gestion is an independent management company managing more than €650 million on behalf of leading institutional investors, entrepreneurs and Family Offices.

Independent since 2004, with a regional coverage since 2010 (Paris, Nantes, Rennes, Rheims, Strasbourg and Lille), UI Gestion specializes in developing SMEs and helps their management implement growth projects and buyout and growth transactions. With the UI Academy, management benefit from complementary tools to strengthen the strategic definition of their projects and operational implementation.

Over the past 15 years, UI Gestion has raised more than €1 billion across three investment platforms (regional, national, sector-based) and has supported more than 130 companies, primarily in the health care, agro-business and equipment manufacturing sectors.

LIST OF PARTIES INVOLVED

Ardian team: Yann Bak, Nicolas Darnaud, Nicolas Kassab, Maxime Debost
M&A Advisor: BNP Paribas (Sylvina Mayer, Marc Walbaum, Sammy Lamali, Clara Blandeau)
Commercial and strategic advisor: LEK (Arnaud Sergent, Serge Hovsepian, Leonore Bosch, Servane Perrot)
Financial DD: 8advisory (Christophe Delas, Christian Berling, Nicolas Bassi)
Legal and Tax Advisor: Latham & Watkins (Gaëtan Gianasso, Thimothée Brunello, Mayssa Sader, Xavier Renard, Yann Auregan)
CSR Advisor: Indefi (Emmanuel Parmentier, Charlotte Salmon)
IT Advisor: 8advisory IT (Jean-Christophe Fuzzati)
Digital Advisor: Singulier (Rémi Pesseguier, Diane Levy)HLD team: Jean-Bernard Lafonta, Maxence Gailliot, Julia Marc
UI Gestion team: Olivier Jarrousse, Sébastien Alauzet, Edouard Vilmer
M&A advisor to the seller: Rothschild (Laurent Baril, Robert Rozemulder)
Financial DD: Accuracy (Arnaud Lambert, Marie Madelpuech)
Legal Advisor: Weil, Gotshal & Manges (Alexandre Duguay, Pierre-Alexandre Khan, Come Wirz, Romain Ferla, Anne-Laila Abback, Cassandre Porgès, Timothée Buchet)

PRESS CONTACTS

Santé Cie
Severine Duhr
ARDIAN
Image 7
Anne-Charlotte Creac’h
Tel: 01 53 70 94 21
accreach@image7.fr
Flora Larger
Tel: 01 53 70 74 90
flarger@image7.fr

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CVC Fund VII to acquire D-Marin’s businesses in Greece, Croatia and the UAE

Company is an operator of premium yacht marinas in the Mediterranean and United Arab Emirates

CVC Capital Partners announces that CVC Fund VII has agreed to acquire the Greek, Croatian and the UAE businesses of D-Marin, a leading operator of premium yacht marinas in the Mediterranean and United Arab Emirates (UAE), from the Doğuş Group, a leading Turkish conglomerate.

Headquartered in Istanbul, Turkey, D-Marin, under concessions or management agreements, is an international operator of premium yacht marinas in Croatia, Greece, Montenegro, Turkey and the UAE, with several new locations identified across its current geographical footprint and beyond. All marinas in Turkey (Turgutreis, Didim and Göcek) will remain under the ownership of Doğuş Group while managed by D-Marin.

István Szőke, Managing Partner at CVC Capital Partners, said: “As our first investment in the sector, we have been attracted to D-Marin given it is a geographically diversified operator of well-invested premium marinas in the Mediterranean and the UAE. Using CVC’s global network and experience in growing companies internationally, we intend to create the leading global premium marina operating company through both organic growth and acquisitions.”

Burak Baykan, CEO of D-Marin, commented: “I am proud of the success achieved by D-Marin to date. Working with Doğuş Group we have put in place a solid foundation, on which we will now plan to build a global group. We are delighted to have secured the support of CVC, a leading global investor, to expand D-Marin internationally and take the company to the next level.”

The transaction will be finalised upon fulfillment of relevant governmental approvals.

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Ardian acquires Frulact, a leading producer of added valued ingredients for the food industry

Ardian

Porto, January 16, 2020 – Ardian, a world leading private investment house, announced today that, with the support of Frulact’s management team, it is acquiring Frulact to the Miranda Family. Frulact is an innovative producer of natural fruit-based and plant-based specialty ingredients for the Food & Beverage industry. The company counts on an extensive product portfolio based on fruit & vegetables preps for dairy, ice-cream, desserts, beverages, flavors and plant-based alternatives.

Headquartered in Maia – Porto, Frulact employs more than 750 people, operates 9 facilities across Europe, Africa and North America and sells its products in more than 40 countries, generating nearly €115 million of turnover. The company, founded by the Miranda family in 1987 and led by João Miranda, has a solid track record of growth relying on both organic and acquisitions initiatives.

Ardian will support the management of the company to accelerate its strategic plan and consolidate the group as one of the global leaders in the food ingredients industry, supporting the existing business activities and enhancing its capabilities in adjacent niches and ingredients. Ardian’s strong knowledge of the food ingredients industry, its worldwide network and the support that a leading international private investment firm can offer make Ardian the best partner to identify and promote growth opportunities to transform Frulact into a global leader.

Ardian will rely on the current management team, which will continue being led by Duarte Faria as Chief Executive Officer, to develop its project. Additionally, João Miranda will continue as Non-Executive Chairman of the group.

João Miranda, Non-Executive President of Frulact, commented: “I join all Frulacteans to welcome Ardian and begin this new chapter in Frulact. We’re very pleased with this agreement and partnership, considering that Ardian will bring considerable financial and strategical resources to boost Frulact to become a strong platform, that will aggregate and integrate other adjacent businesses and activities in the added value ingredients industry, and consequently consolidate Frulact’s project, supported by our Human Capital, and allowing the company to exploit a sustainable global footprint”. In addition, he added: “Frulact will continue operating as usual, with the same management team, developing our future growth, innovation, and sustainability strategy, using our Headquarters in Portugal, to bring the company to the next stage of development and rising to a bright future ahead and to bold our aspirations”.

Gonzalo Fernandez-Albiñana, Head of Ardian Buyout Spain (advisor to Ardian France), said: “Frulact and its Management team have the know-how, capabilities and ambition required to consolidate the company as a leading natural food ingredients provider at global level, by expanding and enhancing its technical capabilities and geographical reach. Ardian will support the management in this endeavor with its expertise, network and resources”.

Philippe Poletti, Member of the Executive Committee and Head of Ardian France, said: “This transaction is a good example of Ardian’s expertise in supporting transformation and growth projects in industries we master, while maintaining the legacy of what has been created by the Miranda Family. Our experience helping companies enter new territories, combined with our understanding and respect for the tradition and the corporate values of family businesses make Ardian a preferred partner for family buyouts or carve-outs”.

Frulact is the first investment of Ardian’s Buyout team in 2020. With 50 employees across seven offices in Europe and New York, the buyout team invests in high-quality mid- and large-cap companies, applying transformational strategies to become world leaders in their niche markets.

ABOUT FRULACT

Frulact is a business group, established in 1987, positioned as a top-ranked innovative company in the supply of added value ingredients for the food & beverage industry, namely fruit & vegetables preps for dairy, ice-cream, desserts, beverages, flavors and plant-based alternatives. From the classic and typical to the most exotic combinations, Frulact has the knowledge and experience to create customized and innovative products to serve its customers’ needs. The Group has a global presence across three continents, with nine business units in five countries (Portugal, Morocco, France, South Africa and Canada), and it is ranked among the world’s top five companies in its business.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, North America, Asia, and South America. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

PRESS CONTACTS

ARDIAN
LLYC
Tel: +34 91 563 77 22
VALVANERA LECHA
CRISTINA GONZÁLEZ-ALLER

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DIF Capital Partners to invest in South Australian Schools PPP

DIF

DIF Capital Partners (“DIF”) is pleased to announce that the TESA Education consortium, comprising DIF Infrastructure V, Tetris Capital, Sarah Construction and ISS Facility Services, has reached financial close on the South Australian PPP Schools (“SA Schools”) project in Adelaide, Australia.

The SA Schools project involves the design, build, finance and maintenance of two new schools located ~40km north and south of Adelaide, respectively. Both schools will accommodate 1,500 students and will cater for an additional 100 students with learning difficulties. The schools will include community hubs, performing arts centres, gyms, sporting facilities, libraries and entrepreneurial hubs.

The availability-based project with the AA+ rated South Australian Department of Treasury and Finance has a tenor of 30 years, including a 28-year operational period.

Design and construction works will be undertaken by Sarah Construction and the facilities will be maintained by ISS Facility Services. Both schools are expected to open before the start of the 2022 academic year.

Marko Kremer, Partner and DIF’s Head of Australasia added: “DIF is excited to invest in this new schools project, which will provide modern educational facilities in fast-growing regions of the South Australian community and thereby contribute to the socioeconomic development of the region.”

About DIF Capital Partners

DIF is an independent infrastructure fund manager, with €6.0 billion of assets under management across eight closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 135 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

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

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KKR Increases Commitment to KKR India Financial Services

KKR

Commitment to bolster financial position and enhance KIFS’ ability to provide financing solutions to companies in India

NEW YORK & MUMBAI–(BUSINESS WIRE)–Jan. 14, 2020– Global investment firm KKR today announced that it has committed to invest an additional US$150 million in KKR India Financial Services (“KIFS” or the “Company”), KKR’s alternative credit business in India. The new capital will bolster KIFS’ position in India’s structured credit space and will enable the Company to continue to partner with Indian borrowers with long-term capital needs.

Joe Bae and Scott Nuttall, Co-Presidents & Co-Chief Operating Officers of KKR, said, “Today is a unique time in the Indian credit markets, with many lenders unable to invest while the demand for alternative credit solutions continues to grow. This commitment demonstrates our ongoing support of the KIFS franchise and its future prospects. Moreover, it solidifies KIFS’ financial position, allows KIFS to be proactive in a dislocated market, and reflects our confidence in KIFS and its mission to finance India’s homegrown champions.”

KIFS provides Indian businesses with financing solutions, as well as alternative asset management and capital market strategies, and is supported by a deep local presence and KKR’s international investment expertise. KIFS has deployed more than US$5 billion of Indian credit investments over the past decade across more than 150 deals. The Company seeks to be an integral part of India’s financial system and to maintain long-term relationships with banks and mutual funds in India.

Sanjay Nayar, CEO of KKR India & CEO of KIFS, commented, “Private lending in India is more important than ever. India has been an important part of KKR’s global growth strategy in Asia, and this investment reinforces KKR’s commitment to the region and provides KIFS with additional resources to enable the continued success of its business.”

KKR will fund its commitment to KIFS through the Firm’s balance sheet. The proceeds of KKR’s investment will be used for general corporate purposes. KKR is the majority stockholder of KIFS, and will continue to coordinate with KIFS’ existing investors to drive the Company’s results. KIFS currently has a CRISIL credit rating of “AA” (Stable) and is regulated by the Reserve Bank of India as a non-bank finance company.

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.

About KKR India Financial Services

KKR India Financial Services (“KIFS”) is KKR’s alternative credit business in India that provides financing to companies. As of January 10, 2019, KIFS has executed over 150 deals in India worth more than US$5 billion.

Source: KKR & Co. Inc.

Media:

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

AdFactors (for KKR India)
George Smith Alexander
+91 98213 56867
George.Smith@adfactorspr.com

KKR Americas
Kristi Huller & Cara Major
+1 212 750-8300
Media@kkr.com

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Questel acquires NRI Cyber Patent

ik-investment-partners

Questel, the global intellectual property software and services company, has signed the acquisition of NRI Cyber Patent in Japan, an IP Business Intelligence and Intellectual Asset Management solutions provider.

As a market leader founded 25 years ago, NRI Cyber Patent has over 50 employees and 1,000 customers. With this acquisition, Questel is now deeply embedded in the Japanese community. Questel has been present in the Japanese marketplace since the 90s through various distribution agreements.

Three years ago, Questel accelerated its investments by acquiring ULT (Questel Japan today) and Multiling with its Japanese subsidiary. The acquisition of NRI Cyber Patent makes Questel the number one provider of IP software and services in Japan.

For more information, please visit www.questel.com

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IK Investment Partners acquires Acture Groep

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire a majority stake in Acture Groep (“Acture” or “the Company”) from the Company’s founders. Financial terms of the transaction are not disclosed.

Acture Groep is a unique collective of innovative businesses providing specialised outsourced services to Dutch corporates and temporary staffing agencies to manage cases of illness or disability in their workforces. The Company was founded by current CEO, Maudie Derks, and two other co-founders in 2008 with the purpose of reducing absenteeism and employer costs amidst the complex and evolving Dutch social security system.

Through an organic and inorganic diversification strategy, the leadership team have sought high quality brands to augment their offering, which now encompasses health assessments, administration and reintegration services and independent insurance advice. IK will acquire its stake in the business from the founders, with Maudie Derks remaining as CEO and reinvesting alongside the Fund.

Maudie Derks, CEO of Acture Groep, commented: “For over a decade, Acture Groep has established itself as a leader in Dutch social security services and is now the largest private social security provider in The Netherlands. As we enter a period of accelerated growth, we are delighted to partner with IK Investment Partners whose combined experience in the healthcare and tech-enabled business services sectors will be an asset to us as we grow to the next stage. We look forward to working with them as we develop our position and international offering.”

Sander van Vreumingen, Partner at IK and advisor to the IK Small Cap II Fund, commented: “Acture Groep is an impressive collection of products and brands with a track record of success in supporting Dutch employers with the complex task of managing compliance and social security legislation. We believe that the Company and its entrepreneurial leadership team is well-positioned for future growth and look forward to supporting Acture Groep as it embarks on the next phase of its strategy.”

The transaction represents the ninth investment made by the IK Small Cap II Fund.

For further questions, please contact:

IK Investment Partners
Sander van Vreumingen, Partner
Phone: +31 208 909210

Acture Groep
David Gribnau, Gribnau Comunicatie
Phone: +31 35 533 7226

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 130 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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CVC Credit Partners becomes sole lender to Horizon Capital’s Sabio

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The refinancing of the existing debt facility allows CVC Credit Partners to support Sabio in its next stage of growth

CVC Credit Partners is pleased to announce that it has provided a unitranche loan and a dedicated acquisition facility to Sabio, a leading customer experience solutions provider and managed services business, backed by Horizon Capital.

Founded in 1998 and headquartered in the UK, Sabio is a global provider of customer engagement technology and managed services, to blue chip enterprise clients. Sabio helps brands optimise contact centre operational performance and improve the customer experience, structures and strategies. The business operates from 11 offices and employs just over 500 people. Sabio Group is backed by Horizon Capital who invested in 2016 and have supported the business’s tripling in size over the past three years.

Simon Hitchcock, Managing Partner at Horizon, commented: “The refinancing in partnership with CVC Credit means that Sabio can continue its successful organic growth, underpinned by an experienced and supportive lender. Securing this significant new committed acquisition facility means we are able to accelerate the buy and build strategy and in the coming months we expect to complete a number of acquisitions from a strong pan European pipeline.”

Jonathan Gale, CEO of Sabio Group said: “With Horizon and CVC backing the business, Sabio is ideally positioned to continue our growth strategy, building a strong footprint in primary European markets and adding technology and skills to our portfolio. This is an exciting move for Sabio and enables our ongoing strategy to bring the very latest in AI powered, self-service and channel agnostic customer engagement solutions to our fantastic, growing, client base.”

Chris Fowler, Managing Director in CVC Credit Partners’ European Private Debt business, added: “Sabio is a leading technology provider, which operates in a large and growing market driven by increasing investment in digital automation and analytics. Its loyal client base yields high renewal rates and reliable recurring revenues. With Horizon’s backing, Sabio has grown strongly in recent years and we are now pleased to support the business on its next stage of development.”

Aptos to be acquired by affiliates of Goldman Sachs’ Merchant Banking Division from Funds advised by Apax Partners

Apax

13 January 2020

Strategic capital commitment from funds managed by Goldman Sachs to fast-track Aptos’ product innovation and retailers’ digital transformation

ATLANTA — Jan. 13, 2020: Aptos today announced that funds affiliated with the Merchant Banking Division of Goldman Sachs have reached a definitive agreement to acquire the company from funds advised by Apax Partners (the “Apax Funds”). Aptos, Inc., a recognized market leader in retail technology solutions, delivers innovative, cloud-native and comprehensive omni-channel solutions to more than 1,000 retail brands in 65 countries.

Aptos to be acquired by affiliates of Goldman Sachs’ Merchant Banking Division from Funds advised by Apax Partners

The Apax Funds backed Aptos CEO Noel Goggin to spin-out the business from portfolio company, Epicor, in 2015. Since then, Aptos has thrived as an independent company having more than doubled their customer base to become one of the largest global enterprise software providers focused exclusively on retail. In addition, the Apax Funds supported Aptos on a number of strategic acquisitions which strengthened Aptos’ presence in Europe and extended its product capabilities.

“Aptos is looking forward to the next stage in our growth and maturation journey in partnering with Goldman Sachs, a group that brings a wealth of enterprise software expertise, commercial relationships and vast global resources,” said Noel Goggin, Aptos CEO and culture leader. “We are also grateful for the strong partnership and strategic support Apax has provided over the past four and a half years.”

“When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built-for-the-future innovation,” said Will Chen, Managing Director at Goldman Sachs.

“With the strength of Aptos’ executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions,” Chen said. “We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos’ preeminence to date.”

“We would like to thank Noel and his team for all they have achieved. As an independent and entrepreneurial company, Aptos has delivered on its potential by offering a comprehensive “end-to-end” platform at the forefront of the market transition to omni-channel retailing,” said Jason Wright, a Partner at Apax Partners. “We wish them continued success in the future.”

About Aptos “Engaging Customers Differently”

In an era of virtually limitless choice, sustained competitive advantage only comes to retailers who engage customers differently – by truly understanding who they are, what they want and why they buy. At Aptos, we too, believe that Engaging Customers Differently™ is critical to our success. We are committed to a deep understanding of each of our clients, to fulfilling their needs with the retail industry’s most comprehensive omnichannel solutions, and to fostering long-term relationships built on tangible value and trust. More than 1,000 retail brands rely upon our Singular Commerce™ platform to deliver every shopper a personalized, empowered and seamless experience…no matter when, where or how they shop. Learn more: www.aptos.com

Follow Aptos on Twitter @Aptos_Retail

Aptos, the Aptos logo, “Engaging Customers Differently” and “Singular Commerce” are trademarks of Aptos, Inc. All other trademarks referenced are the property of their respective owners.

About Apax Partners

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

About Goldman Sachs Merchant Banking Division

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.

Media Contacts

For Aptos, Inc.

Kristen Miller | +1 678 695 6566 | kmiller@aptos.com

For Apax Partners

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

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

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

For Goldman Sachs

Leslie Shribman | +1 212 902 5400 | leslie.shribman@gs.com

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