RECO enters the next phase of growth with Parcom

Parcom

The Reigwein family and investment company Parcom have reached an agreement regarding the acquisition of RECO, a specialist in equipment rental for the professional market. In partnership with Parcom, RECO’s management aims to continue its current growth strategy and company culture. In the coming years, the company will focus on sustainable growth within the equipment rental market, aiming to become the go-to partner for all equipment-related needs of its professional clients. The acquisition will not lead to changes for employees, customers, suppliers, and partners.

RECO is a Dutch family business based in Koudekerk aan den Rijn with 280 employees. RECO has been the specialist in equipment rental for the professional market for over 70 years. RECO offers an extensive portfolio of rental equipment to various sectors, including construction, rail & infrastructure, maritime, and events. RECO’s proposition focuses on unburdening customers by providing technical advice and other complementary services. As a family business, RECO values personal communication and fast decision-making, hereby ensuring reliability for its customers.

RECO has ambitious plans for the future. After 70 successful years under the leadership of the Reigwein family, both the family and the current management believe it is time for the next phase of growth. Parcom paves the way for further expansion of RECO’s current proposition within the Netherlands and the UK, as well as acquisitive growth. This partnership provides the opportunity to further invest in new product groups for the professional market, further geographic expansion within the Netherlands and the UK, and establish a leading position as a provider of sustainable solutions in (temporary) energy supply.

The RECO Lift Solutions business unit in Waddinxveen, which focuses on rental activities of temporary passenger lifts, emergency lifts, and stairlifts, will not be transferred to Parcom. This business unit, with approximately 30 employees, will continue its operations under Robin Reigwein.

Robin Reigwein, RECO: “I have great confidence in Parcom as partner for RECO in its next phase of growth. The input and experience of the Parcom team will be a valuable addition to the management team. Parcom recognizes the strength of RECO’s dynamic and responsive family-oriented culture and aims to preserve the culture in the future. I will remain actively involved in RECO Lift Solutions and look forward to capitalizing on international opportunities with the team, while maintaining close cooperation with RECO.”

Willem-Jan Merckel, Parcom: “We are very pleased to invest in RECO and become a partner of the management team. We are impressed by RECO’s development since its founding under the Reigwein family. The company offers a unique proposition to its professional clients based on unburdening clients of its equipment-related matters. We look forward to supporting the company in its further development.”

Financial details of the transaction will not be disclosed. The transaction is amongst others subject to approval by The Dutch Competition Authority (Autoriteit Consument & Markt).

About RECO

RECO is a dynamic and successful family business and has been a specialist in equipment rental for over 70 years, serving sectors such as construction, rail & infrastructure, and events. RECO combines equipment rental with technical advice and additional services to its clients such as design & calculation, transport and assembly. Through expert advice and an extensive product range, RECO provides a complete solution for any project. RECO operates with approximately 280 employees in the Netherlands and the UK. Although the RECO philosophy has remained unchanged over the years, the company has grown to become the go-to partner for equipment rental in the Dutch market. More information: www.reco.eu.

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Asterion, Ardian and Crédit Agricole Assurances agree deal for the 49% stake in 2i Aeroporti

Ardian

Asterion Industrial Partners, an independent investment management firm focused on infrastructure investments in the European mid-market, Ardian, a world-leading private investment house and insurer Credit Agricole Assurance, today announce that they have agreed the sale of 49% stake of 2I Aeroporti from Ardian and Credit Agricole Assurance to Asterion.

2i Aeroporti was jointly owned by Italian fund manager F2i and the Ardian-led consortium along with Crédit Agricole Assurances since April 2015.

Throughout F2i/Ardian/Crédit Agricole Assurances joint holding period, 2i Aeroporti has grown and now holds direct and indirect participations in Milano Malpensa and Linate, Naples, Salerno (recently opened to commercial aviation), Torino, Trieste, Bologna and Bergamo airports, accounting for over 32% of passengers traffic (63m passengers in aggregate) and c. 70% of cargo (758k tons) in Italy, as of 2023.

With a significant presence in Italy, Asterion continues to grow its operations in the country and this represents its first investment in the airport sector, expanding its presence in mobility by acquiring a unique and strategic portfolio of airports with high barriers to entry, long remaining concessions and supportive regulations. In line with its ESG strategy, Asterion plans to focus on emission reduction initiatives, ease the transition to greener aviation fuels, and promote Net Zero plans to make air travel more sustainable.

This transaction is also a new opportunity to partner again with F2i, who has steadily led 2i Aeroporti since the creation of the platform in 2010.

2i Aeroporti have set the highest standards for the group’s companies in terms of service of quality for the passengers, digitalization, and sustainability over the last years. Today, all airports of 2i Aeroporti are pioneers in their market segments and have received over the years several awards by primary industry associations (incl. ACI Europe).

In 2019, Ardian’s Data Science and IT teams developed Ardian AirCarbon in close collaboration with 2I Aeroporti’s portfolio airport teams to support the Scope 3 emissions dynamic assessments at each airport. The platform uses granular, real-time operations data to quantify and project emissions. This enables airport operators to effectively monitor and reduce their CO2 emissions. Today, the platform is used by the airports in the platform, notably to support on the annual certification process for ACA (Airport Carbon Accreditation).

2i Aeroporti set up several initiatives that have contributed to the increase in efficiency and passenger flow, as well as optimization of infrastructure. These include initiatives like self-baggage drop, biometric boarding, smart security for luggage inspection, flow monitoring and luggage reconciliation systems. At Naples, an innovative satellite guided climb procedure led to 33% reduction of population exposed to noise.

“We are committed to advancing 2i Aeroporti’s position as the first airport operator in Italy, with sustainable growth and enhancing Italy’s connectivity. Our strategy includes strengthening partnerships with local stakeholders and actively supporting the aviation industry’s efforts towards decarbonization.” Guido Mitrani, Founding Partner, Asterion

“We are proud to have been shareholders of 2i Aeroporti along with Crédit Agricole Assurances over the last decade and to have supported the growth and the development of the platform and its groups of companies in the interests of public and private shareholders.. We have been able to help the group in the implementation of numerous projects and initiatives over the last few years, particularly in terms of digitalization and sustainable development. Our industrial expertise has enabled us to better support 2i Aeroporti and offer its platform relevant and innovative solutions, such as the creation of Ardian AirCarbon. We wish F2i and Asterion every success for the company’s next chapter.” Rosario Mazza, Head of Infrastructure Italy and Senior Managing Director, Ardian

The completion of the transaction remains subject to the usual conditions precedent and the approval of the relevant regulatory authorities.

ABOUT ASTERION INDUSTRIAL PARTNERS

Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance and a strong culture both for itself and in the companies in which it invests.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ABOUT CRÉDIT AGRICOLE ASSURANCES

Crédit Agricole Assurances, France’s largest insurer, is the company of the Crédit Agricole group, which brings together all the insurance businesses of Crédit Agricole S.A. Crédit Agricole Assurances offers a range of products and services in savings, retirement, health, personal protection and property insurance products and services. They are distributed by Crédit Agricole’s banks in France and in 9 countries worldwide, and are aimed at individual, professional, agricultural and business customers. Crédit Agricole Assurances has 5,800 employees. Its premium income (non-GAAP) to the end of 2023 amounted 37.2 billion euros.

ABOUT 2I AEROPORTI

2i Aeroporti is the holding company controlled, from 2015 to date, by F2i- Terzo Fondo per le Infrastrutture- and by a consortium led by Ardian with Credi Agricole Assurance with a 49% stake. 2i Aeroporti holds the main Italian airpots network, with about 63 millions passengers in 2023 and a 32% market share. Its portfolio includes about 36% of SEA (Milano Linate and Malpensa airports and a minority stake in Bergamo airport), the majority of the concessionaries of the following airports: Naples, Turin, Trieste and the minority stake in Bologna airport.

PRESS CONTACT

ARDIAN

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EQT Life Sciences invests in Asceneuron, a neurodegeneration therapeutics company, as part of USD 100 million Series C financing round

EQT Life Science
  • EQT Life Sciences has invested in Asceneuron’s oversubscribed Series C and Prof. Philip Scheltens will join the Asceneuron Board of Directors
  • Asceneuron – which is developing small molecules targeting tau protein aggregation, a root cause of neurodegenerative disease – will use the funds to progress its lead asset ASN51 into Phase 2 clinical development for the treatment of Alzheimer’s disease

EQT Life Sciences is pleased to share that the LSP Dementia Fund has invested in Asceneuron SA (“Asceneuron” or “the Company”), a clinical stage biotech company developing small molecules, targeting tau protein aggregation, a root cause of neurodegenerative disease. New investors in the oversubscribed USD 100 million Series C also include Novo Holdings – which led the round – OrbiMed and SR One. Existing investors M Ventures, Sofinnova Partners, GSK Equities Investments Limited and Johnson & Johnson Innovation also participated. Prof. Philip Scheltens, Partner and Head of the LSP Dementia Fund, will join the Asceneuron Board of Directors, and Dr. Arno de Wilde, Director at the Fund will join as board observer.

The financing will be used to advance the clinical development of Asceneuron’s clinical pipeline of OGA inhibitors for the treatment of neurodegenerative diseases. Primarily, Asceneuron plans to take its lead asset, known as ASN51, into Phase 2 clinical development for the treatment of Alzheimer’s disease. ASN51 is an oral small molecule drug designed to inhibit OGA, an enzyme implicated in protein aggregation. By preventing the aggregation of tau proteins, ASN51 aims to slow the progression of Alzheimer’s disease. OGA inhibition has also shown promise in the prevention of other neurodegenerative diseases, including Parkinson’s disease and amyotrophic lateral sclerosis.

Asceneuron has completed five early-stage clinical trials, showing that their treatment effectively reaches the brain and targets the OGA enzyme. Asceneuron plans to initiate its first Phase 2 clinical study later this year.

Barbara Angehrn Pavik, Chief Executive Officer of Asceneuron, said: “This high caliber life sciences investor syndicate further validates the potential of our OGA inhibitor pipeline and leadership in the field of tauopathies. We are excited to be working with the LSP Dementia Fund given their outstanding track record in the field of Alzheimer’s disease as we advance our lead asset ASN51 into Phase 2 clinical development, recognizing its potential to significantly expand treatment options for patients with Alzheimer’s disease”.

New Asceneuron Board Member and Head of the LSP Dementia Fund Prof. Philip Scheltens added: “Dementia and other neurodegenerative diseases are some of the greatest healthcare challenges of our time. With our LSP Dementia Fund, EQT Life Sciences can invest in innovative companies across the neurodegenerative spectrum. Asceneuron is exactly this kind of company. Its clinical pipeline has breakthrough potential to change patients’ lives for the better and we’re delighted to be joining Asceneuron on its journey.”

Contact
EQT Press Office, press@eqtpartners.com 

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients. The LSP Dementia Fund (USD 297Million) started in 2020 and has a dedicated team of neurologists and neuroscientists focused on investing in therapeutics targeting neurodegenerative diseases.

For more information, go to https://eqtgroup.com/private-capital/life-sciences/      

About Asceneuron
Asceneuron is a clinical stage biotech company focused on the development of orally bioavailable therapeutics for debilitating neurodegenerative disorders with high unmet medical need. The company’s pipeline reflects its ambition and commitment to developing treatments for a wide range of neurodegenerative diseases. Asceneuron has two clinical-stage small molecule OGA inhibitors in development: ASN90 (licensed to Ferrer Pharmaceuticals) for the treatment of progressive supranuclear palsy (PSP) and a potential best-in-class molecule, ASN51, for Alzheimer’s disease. The company is also planning to advance its pre-clinical development pipeline in Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and other neurodegenerative indications. Asceneuron is backed by a renowned syndicate of investors consisting of Alzheimer’s Drug Discovery Foundation (ADDF), LSP Dementia Fund, GSK Equities Investments Limited, Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Kurma Partners, M Ventures, Novo Holdings, OrbiMed, Sofinnova Partners and SR One. For more information, please visit www.asceneuron.com 

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Ardian enters in exclusive discussions to acquire a majority stake in Robot-Coupe and Magimix

Ardian

Ardian will invest in the two iconic and leading brands alongside the Hameur Group, who is the Group’s historic shareholder

Ardian, a world-leading private equity house, announces that it has entered into exclusive discussions to acquire a majority stake in Robot-Coupe and Magimix, alongside Hameur Group.

Founded in 1961 in the French region of Burgundy, Robot-Coupe is the undisputed global market leader in premium benchtop equipment for professional use. Robot-Coupe has become a must-have in all professional kitchens, leveraging its superior brand image and value proposition. Its products are known for their reliability, durability, adaptability, reparability, easy-to-use features and Made-in-France quality.

The company is present in over 130 countries and serves more than 7,000 distributors and importers across the world, with leading market shares in its core geographies (namely the US, France, Australia and the UK). Robot-Coupe’s expansion is supported by a unique sales & marketing strategy, which benefits from a large and proactive on-the-ground sales team.

Over the past 60 years, Robot-Coupe has developed an attractive and innovative product portfolio covering most food preparation, from chopping and mixing to whisking and emulsifying. Its main product groups are food processors, vegetable preparators, juicers, and blenders, with each model designed in a wide range of sizes and functions for greater capacity and versatility.

Magimix was created in 1971 by leveraging Robot-Coupe’s expertise and focuses on premium small kitchen appliances for domestic use. This iconic brand is an industry leader in food preparation equipment such as food processors, blenders, juicers and coffee machines (via a strategic partnership with Nespresso initiated in 1997). The company primarily operates in France, the UK and the Netherlands, and serves a diversified customer base of specialized retailers, department stores and independent retailers, supported by a strong online presence.
Through this partnership, Ardian and the Hameur Group will support the Robot-Coupe and Magimix’s management teams plan to consolidate their market leadership position through accelerated organic growth and internationalization. This growth is expected to be delivered by the continued success of their existing products, a pipeline of new innovative solutions and potentially seizing external growth opportunities. Ardian is well placed to support the group’s ambitious strategic plan given its track record, expertise and international network in the Food Value Chain sector.

The completion of the transaction is subject to the legal usual conditions and the approval of the relevant regulatory authorities.

“Given our common DNA, based on French roots combined with international reach, we are convinced that Ardian is the right partner to begin a new chapter for the Group. We would like to welcome the Ardian team, who share our values, our vision and our ambition to accelerate the development of the company. Together, we will focus on enhancing Robot-Coupe and Magimix’s leadership position by combining our resources, know-how and strategic vision. We are delighted with this partnership, which marks a new momentum for our group.” Gilbert Verdun, CEO of Robot-Coupe and Magimix

“We are very pleased by this ambitious partnership with the Hameur Group, based on shared values and mutual trust. This partnership allows us to invest in a unique Group combining two iconic brands in a sector we know well and in which we have a strong network. This transaction is another example of how Ardian is the partner of choice in accompanying a family-owned group in its next development phase.” Thibault Basquin, Co-Head of Buyout and Member of the Executive Committee, Ardian

“With their renowned expertise and their long-term vision, the Hameur Group representatives, Gilbert Verdun and his teams have created global market leaders, offering innovative and unrivalled products targeting the attractive Food-Service industry. We are glad to partner with them in this new chapter and to accompany them in their accelerated growth and diversification strategy.” Emmanuel Miquel, Co-Head of Buyout France & Managing Director, Ardian

Over the course of our interactions, we have been very impressed by the quality of Robot-Coupe and Magimix’s management and their passion to create the best and most efficient food preparation products. We look forward to supporting them in the next development phase.” Alexis Manet, Managing Director Buyout, Ardian

LIST OF PARTICIPANTS

  • ARDIAN

    • ARDIAN: THIBAULT BASQUIN, EMMANUEL MIQUEL, ALEXIS MANET, NICOLAS KASSAB, ANOUK DAOUDAL, MARTIN BLANC
    • ARDIAN FINANCING TEAM: GREGORY BUSCAYRET, ARIS TORANIAN
    • BUYER M&A ADVISORS: AMALA PARTNERS (JEAN-BAPTISTE MARCHAND, VINCENT VILLE, CHLOÉ SPIGOLON), J.P. MORGAN (KYRIL COURBOIN, ROGIER POP, MOUNIR CHAHINE), SYCOMORE CORPORATE FINANCE (FRANÇOIS VIGNE), PC ASSOCIÉS (ANDRÉ FRANÇOIS-PONCET)
    • BUYER LEGAL ADVISOR: LATHAM & WATKINS (GAETAN GIANASSO, MICHAEL COLLE, AYMERIC DERRIEN-AKAGAWA (CORPORATE), XAVIER FARDE, CARLA-SOPHIE IMPERADEIRO (FINANCING), XAVIER RENARD, CAMILLE PONS (STRUCTURING))
    • BUYER STRATEGIC DD: BAIN & COMPANY (DAPHNÉ VATTIER, ANDREA GONDEKOVA, PAUL QUIPOURT)
    • BUYER FINANCIAL DD: ALVAREZ & MARSAL (FRÉDÉRIC STEINER, BAPTISTE RIDEAU)
    • BUYER OPS DD: ALVAREZ & MARSAL (RENALD BEJAOUI, MEHDI TAHRI)
    • BUYER LEGAL & SOCIAL DD: LATHAM & WATKINS (GAETAN GIANASSO, MICHAEL COLLE, AYMERIC DERIEN-AKAGAWA)
    • BUYER TAX DD: DELOITTE (OLIVIER VENZAL, JEAN-CHRISTOPHE TEORE-BORASCHI)
    • BUYER ENVIRONMENT & ESG DD: DELOITTE (LAURIANE MAROUZE, CHARLOTTE BANCILHON)
    • BUYER DIGITAL DD: SINGULIER X INDEFI (RÉMI PESSEGUIER, DAVID TOLEDANO)
    • BUYER INSURANCE DD: MARSH (JEAN-MARIE DARGAIGNARATZ, CLARA NOT)
  • ROBOT-COUPE & MAGIMIX

    • MANAGEMENT: GILBERT VERDUN, MARC DE SAINTE-CROIX, MAXIME DE JENLIS, PATRICK MARIANI, JEAN-MARIE LOZANO
    • VENDOR M&A ADVISORS: BNP PARIBAS (MARC WALBAUM, SÉBASTIEN REBEIX), SOCIÉTÉ GÉNÉRALE (CYRIL PAOLANTONI, MARCO BESSONE)
    • VENDOR LEGAL ADVISORS: WHITE & CASE (THIERRY BOSLY, THOMAS GLAUDEN, LAURE BAUDURET)
    • VENDOR STRATEGIC DD: ROLAND BERGER (STÉPHANE TUBIANA, LOUIS CHUPIN)
    • VENDOR FINANCIAL DD: EY (GILLES MARCHADIER, ELSA ABOU MRAD, FRANÇOIS ESTIN)
    • VENDOR LEGAL & SOCIAL DD: EY (FRÉDÉRIC RELIQUET, ANNE-ELISABETH COMBES), DE GAULLE FLEURANCE & ASSOCIÉS (HENRI-NICOLAS FLEURANCE, JEAN-CHRISTOPHE AMY), STEVENS & BOLTON
    • VENDOR TAX DD: EY (CÉDRIC DEVOUGES), RSM (LEONID KHRISTOFOROV)
    • VENDOR ENVIRONMENT DD: AECOM (BENOIT SOUFFRE)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ABOUT ROBOT-COUPE

Founded in 1961 in Burgundy, Robot-Coupe is the undisputed global market leader of premium benchtop equipment for professional kitchens. Its early success relied on innovation solutions, directly addressing the chefs’ needs for a robust, efficient, reliable, safe and easy-to-use product. Robot-Coupe has quickly expended globally leveraging its strong brand image associated with Made-in-France excellence in gastronomy, becoming the common name for professional food processors, while diversifying into other benchtop product categories (e.g. juicers, immersion blenders, etc.). The company is present in more than 130 countries where it serves more than 7,000 distributors and importers, with leading market shares in its core geographies (namely the US, France, Australia and the UK). Robot-Coupe is operating through a global footprint with three manufacturing and assembly sites located in France, the US, and Sweden.

ABOUT MAGIMIX

Created in 1971 leveraging Robot-Coupe’s expertise, Magimix focuses on premium small kitchen appliances for domestic use, with a clear leadership in food preparation equipment and coffee machines. Magimix offers a wide range of products consisting of food processors (notably its flagship product, the Cook Expert), blenders, juicers, co-branded coffee machines through a strategic long-term partnership with Nespresso, and other products (e.g. ice-cream machines, toasters, steamers). Primarily operating in France, the UK and the Netherlands, the company serves a diversified customer base of specialized retailers while benefitting from strong online presence.

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ARDIAN

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Legend Capital’s Portfolio Company Singfilm Solar Achieves Breakthrough in Perovskite Solar Cell Efficiency

Legend Capital

HONG KONG, July 15, 2024 – (ACN Newswire) – Legend Capital’s portfolio company, Singfilm Solar, a leading innovator in the research and manufacturing of high-efficiency perovskite solar cells, has announced that its self-developed perovskite solar module has achieved a steady-state conversion efficiency of 22.6%, certified by authoritative institutions. This breakthrough has earned a place in the esteemed Martin Green Efficiency Table (Version 64), marking the third time Singfilm Solar’s innovations have been recognized by this authority. This achievement underscores Singfilm Solar’s pioneering status in the global perovskite field and highlights the potential for transitioning from laboratory research to commercial production.

Founded in July 2023 in Singapore, Singfilm Solar’s team brings over a decade of experience in perovskite materials, processes, and equipment. The company is focused on developing and producing highly efficient and stable perovskite cells.

The improvement of photovoltaic conversion efficiency is crucial, as each 1% increase can result in a 4% rise in power generation and revenue. Perovskite cells, with their ideal band gap width, offer theoretical efficiencies of over 33% for single-junction and 43% for tandem cells, far exceeding traditional crystalline silicon cells. This positions perovskite as the next-generation photovoltaic material.

Despite its potential, the widespread adoption of perovskite in the photovoltaic industry has been hindered by stability challenges. Achieving a balance between power conversion efficiency and operational stability under complex conditions, while also ensuring manufacturing scalability, remains a critical hurdle. Moreover, exploiting the unique properties of perovskite, such as adjustable band gap, lightweight, high efficiency, and simple raw materials, to develop various photovoltaic products for different applications is a significant challenge in its commercialization.

Singfilm Solar’s proprietary Quasi-Mono high-quality perovskite industrial preparation technology supports high-throughput continuous production on large rigid and flexible substrates. Accelerated aging tests have validated the commercial product’s lifespan, making Singfilm’s commercial-sized perovskite modules the first to combine high efficiency, stability, and manufacturability. The company holds several core technologies in perovskite materials, preparation methods, and cell and module structures.

The founder of Singfilm Solar, Professor Yi Hou, is a Presidential Young Professor at the National University of Singapore (NUS) and leads the Perovskite and Tandem Solar Cells group at the Solar Energy Research Institute of Singapore (SERIS). A pioneer in perovskite research, Professor Hou’s work has been published in top academic journals such as Science and Nature (https://blog.nus.edu.sg/yihoulab/). The establishment of Singfilm Solar has received substantial support from NUS, providing a strong scientific foundation for the company’s rapid development.

In early 2024, Legend Capital led a round of angel funding for Singfilm Solar. This financing aims to expand Singfilm’s pilot line in Singapore, enhance the R&D team, and develop a global client base.

Professor Yi Hou, founder of Singfilm Solar, stated:

We are standing at the pinnacle of a perovskite technology revolution, committed to transforming laboratory innovations into real-world applications. Singfilm has not only repeatedly broken the records of the power conversion efficiency of perovskite solar cells but has also continuously made significant progress in device stability and scalable manufacturability.

I am filled with anticipation and excitement for Singfilm’s first commercial project in Europe. This is not only a recognition of our team’s technological maturity but also an important step in showcasing innovative clean energy solutions to the world.

I would like to thank Legend Capital and all the partners who support Singfilm. It is your trust that allows us to keep moving forward. We look forward to welcoming a brighter future for perovskite technology together with you all.

Managing Director of Legend Capital, Wenlong Wang, commented:

Singfilm is dedicated to creating the next generation of mainstream photovoltaic products, attracting top experts in perovskite research and thin-film industrialization from around the world. The team possesses comprehensive and solid technical expertise, and what is even more commendable is their focus on addressing the challenges of mass production implementation from day one.

Legend Capital is fortunate to be part of this exciting entrepreneurial journey, actively providing support in equipment, materials, scenarios, and channels by leveraging its accumulated resources in the new energy industry. Congratulations to the company for breaking the world record in its debut, and I look forward to this young and high-potential team continuing to make breakthroughs and successfully achieving subsequent milestones.

About Legend Capital

Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.

The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.

For further information, please contact:
Ms. Orianna Ou / Ms. Arina He
Tel: +852 3468 8171
Email: legendcapital.list@everbloom.com.cn


News URL: https://www.acnnewswire.com/press-release/english/91775/

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Marktlink Capital closes second Venture Capital Fund-of-Funds at €80 million

Marktlink Capital

Amsterdam 15 July 2024 – Marktlink Capital has successfully closed the subscription for its second venture capital fund-of-funds in six months, securing €80 million in capital commitments from approximately 150 private investors. This second fund follows the success of the first fund launched in 2022, which was fully subscribed within six months. A significant portion of the private investors in the new fund also invested in the first fund, attracted by the access to top venture capital funds in Europe and North America.

Unicorns and trends
The strategy, size, and diversification of the funds in the second venture capital fund-of-funds are largely similar to those in 2022. Based on extensive research, the Marktlink Capital team selects funds that perform exceptionally well. “There are thousands of VC funds, but only a few consistently perform well”, says Bouke Marsman, partner at Marktlink Capital. “In venture capital, good funds continue to perform well year after year. 85% of Unicorns (companies valued over a billion) are owned by just 5% of the funds.”

Marsman continues, “Only 0.5% of companies grow into Unicorns, but ten companies in our portfolio have achieved that status. This is relatively high, especially considering we’ve only been operating for a year and a half. The results so far are in line with our expectations.”

Marktlink Capital has taken broader technological trends into account when composing its portfolio, including Artificial Intelligence (AI). Marsman explains, “With an investment in Saga Ventures, a fund specialising in AI led by Max Altman, and in funds backing the European AI champion Mistral, we aim to reflect this trend in our portfolio.”

About Marktlink Capital
Marktlink Capital, born from the merger of Marktlink Investment Partners and Welt Ventures, is an investment company providing entrepreneurs and private investors with access to the best private equity and venture capital funds in Europe and North America. The team consists of approximately 35 FTEs with specialist knowledge and experience in private equity and venture capital. To date, more than €1.5 billion in committed capital has been secured, almost entirely from Dutch entrepreneurs. The initiator of Marktlink Capital is Marktlink, which has been advising entrepreneurs on the sale or purchase of companies in the upper mid-market segment since 1996. With more than 300 employees and 150 deals per year, Marktlink understands the critical role private equity and venture capital play in the development and growth of businesses.

END of RELEASE

 

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EQT and Kühne Holding invest in Flix, the global travel company

eqt

EQT Future and Kühne Holding to acquire a 35% stake in Flix

Investment is part of a long-term strategic partnership built on a common vision for Flix’s next phase of profitable growth across new and existing markets and offerings

EQT is investing through EQT Future, its impact-driven, longer-hold fund, and will support Flix’s ambition to expand the offering of sustainable and affordable travel options

Flix SE (“Flix” or the “Company”), the global travel tech company, and EQT, the global investment organisation, together with Kühne Holding, representing one of the world’s leading logistics entrepreneurs and investors, today announce that a definitive agreement has been reached for EQT Future and Kühne Holding to acquire a 35% minority stake in Flix.

In addition to a primary investment in Flix, EQT Future and Kühne Holding will acquire shares from existing shareholders to build a long-term anchor shareholding in Flix. This investment will further strengthen Flix’s balance sheet and help accelerate the Company’s successful trajectory of profitable growth. The closing of the transaction is subject to certain customary conditions and regulatory approvals.

“We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. Their capital and know-how will be a strong asset to our company’s overall strategic vision. We couldn’t ask for better partners to embark on the next chapter of Flix’s journey”, commented André Schwämmlein, CEO and Co-Founder of Flix.

“EQT Future backs high-quality, growing companies that have the potential to be sustainability leaders in their fields. Flix is the perfect example of this. We are deeply impressed by what Andréand his team have built, having developed Flix from a startup into the clear global market leader, operating in 43 countries,” said Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team. “For us at EQT, it is always about providing more than capital. We are proud to partner with Kühne Holding, one of the leading transportation and logistics investors, and together with André and his team, we are excited to support Flix’s strategic growth agenda over the long-term. We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation, with huge potential to become a household name in the industry and beyond.”

Dominik de Daniel, CEO Kühne Holding AG, commented: “Flix is driving the next generation of collective transport. The Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion. Over the past few months, we have established a great relationship with the colleagues of EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix’s future in a beneficial partnership.”

Karl Gernandt, Chairman Kühne Holding AG, added: “As one of the largest strategic investors in the transport and mobility sector, the Kühne Holding is now taking a further step into the market for collective transport by bus. With Flix’s proven asset-light operating model, we see great synergies with our other investments in the transport sector. Furthermore, we want to support the expansion strategy of their international network. We are building on the great successes that Flix has achieved in establishing the bus as the leading sustainable means of transport – for more than a decade in Europe and now also overseas.”

Driving profitable growth
The investment comes at a time of continued significant growth momentum and strategic expansion at Flix. The company reported 30 percent total revenue growth in 2023 and thus, for the first time, reached EUR 2 billion in annual total revenue. This comes at an increased profitability with adjusted EBITDA of EUR 104 million in 2023. The strong momentum enables Flix to deliver on strategic targets such as the expansion of its global footprint, transforming the North American bus market and further scaling FlixTrain to respond to the rising demand for alternative rail services in Germany.

Expanding the global footprint
To further strengthen its geographical presence, Flix has recently entered two of the most important bus markets worldwide: Chile and India. The company’s global footprint now stretches across 43 countries worldwide. With both FlixBus and FlixTrain, the European expansion is moving forward. FlixBus is significantly expanding its services in UK, Portugal and Ukraine and has launched in Norway and Finland. Flix’s clear ambition is to reach market leadership in these markets.

Advancing the North America business
Flix has been operating in the United States since 2018. In 2021, the company acquired Greyhound Lines, an iconic intercity bus service provider, further expanding its reach, including in Canada and Mexico. The transformation and integration of operations into the Flix platform is well underway and increasingly reflected in a growing asset-light share, driving growth and profitability in the market.

With growth comes responsibility
Flix is on a continuous mission to deliver a great travel experience while constantly reviewing the impact of its business. To underpin the Company’s commitment to a responsible business model, Flix recently published itssecond voluntary ESG report for 2023. With its vision to drive sustainable and affordable travel, Flix aligns strongly with EQT Future’s mission to support market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedInXYouTube and Instagram

About Flix
Flix intends to transform the public transport sector by offering sustainable and affordable long-distance bus and train travel solutions in more than 40 countries across four continents. With its asset-light business model and innovative technology platform, Flix, launched in 2013, swiftly established market-leading positions for long-distance bus travel in Europe, North America and Türkiye and is rapidly expanding further into South America and India through its brands FlixBus, FlixTrain, Kamil Koç, and Greyhound.

Driven by increased awareness for sustainable travel, Flix aims to become carbon neutral in Europe by 2040 and globally by 2050. To assess its progress within a scientifically recognized framework, Flix established near-term targets for emissions reduction with the Science Based Targets initiative.

While Flix manages the commercial side of the business such as network planning, pricing, operations control, marketing and sales, quality management and continuous product development with a data-driven approach, trusted Flix partners conduct the daily operations. The innovative combination of Flix’s technology and sales platform with traditional passenger travel has turned a European start-up into a leading and globally expanding travel tech company.

For more information, please visit corporate.flixbus.com

About Kühne Holding
Kühne Holding AG, based in Switzerland, comprises Klaus-Michael Kühne’s business interests. With an entrepreneurial focus on investments in the logistics and transport sector, it holds a majority stake in Kühne+Nagel International AG and is the largest single shareholder of Hapag-Lloyd AG, Deutsche Lufthansa AG and Brenntag SE. In April 2024, the Kühne Holding announced the acquisition of Aenova Group, a globally leading pharma contract development and manufacturing organization.

Contacts
EQT: Press Office, press@eqtpartners.com
Flix: Lara Hesse, globalpress@flixbus.com
Kühne Holding: Dominique Nadelhofer, Dominique.nadelhofer@kuehne-holding.com

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CVC DIF agrees to sell stake in France LNG Shipping to KKR-backed Ocean Yield

DIF

FLS

The strategic partnership and investment provided by CVC DIF funds has led to substantial expansion in FLS’ fleet of Liquefied Natural Gas ships

CVC DIF is pleased to announce that it has agreed to sell a 29% economic interest in France LNG Shipping (FLS), which operates state-of-the-art Liquefied Natural Gas (LNG) carrier vessels under long-term charters to tier-one European energy companies.

CVC DIF’s stake in FLS, held through its CIF I and CIF II funds, will be acquired by Ocean Yield AS, a ship-owning company with investments in vessels on long-term charters. Ocean Yield AS is wholly owned by KKR Global Infrastructure Investors IV, a fund managed by KKR.

Over the past five years, CVC DIF and FLS’s management team have partnered with some of the most well-known players in the maritime industry to establish a leading, integrated French LNG ship owning platform. During this period, LNG has proven to be essential to global energy security.

Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, said: “This transaction is a perfect example of CVC DIF’s value-add strategy as FLS is a bigger and better business now than it was in 2019.”

“A key CVC DIF objective is to support growing infrastructure businesses on the back of strong positive sectorial trends and realise attractive returns for our investors. We are proud of the development of the FLS platform and pleased to see a new partner coming in to support its future growth.”

FLS is a 50:50 joint-venture between Nippon Yusen Kabushiki Kaisha (NYK), a leading Japanese shipping company, and French company Geogas LNG. Geogas LNG is jointly owned by CVC DIF, Access Capital Partners and Geogas Maritime, a leading French ship-owner that has been active in the market for the past 45 years.

In November 2019, the CIF I fund closed an investment to finance an initial batch of five newbuild LNG vessels through FLS. In 2021 and 2022, the CIF II fund also invested in FLS to finance the acquisition of Gazocean, a French ship management company which has operated LNG vessels for more than 60 years, and the addition of three more vessels.

Closing of the transaction is subject to conditions and is expected to take place in the second half of 2024.

CVC DIF was advised on the transaction by Rothschild & Co (financial), Orrick, Herrington & Sutcliffe (legal, corporate), Watson Farley & Williams (legal, project), FTI Consulting (commercial), DNV (technical & environmental), KPMG (tax), 8Advisory (accounting) and Marsh (insurance).

 

About CVC DIF 

CVC DIF (formerly DIF Capital Partners) is a leading global mid-market infrastructure equity fund manager.

Founded in 2005 and headquartered in Amsterdam, the Netherlands, CVC DIF has c. €18 billion of infrastructure assets under management in energy transition, transport, utilities and digitalisation.

With over 240 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

CVC DIF forms the infrastructure strategy of leading global private markets manager CVC. This partnership allows CVC DIF to benefit from CVC’s global platform, with 29 offices across five continents.

For more information, please visit www.dif.eu or follow us on LinkedIn.

 

Press contact:

DIF Capital Partners: press@dif.eu

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Ratos company SSEA Group secures new contracts including construction of arena area worth SEK 800 million

Ratos

The construction group SSEA Group has secured four new contracts in its important geographic regions of Stockholm and Gothenburg in Sweden, of which the largest is worth SEK 800 million and was signed with the municipality of Kungälv in the Gothenburg area. The contract pertains to the development and construction of a new arena area with a swimming facility, two indoor ice rinks, two sports halls and an ice stadium. The total value of all four new contracts is approximately SEK 1.1 billion.

All four projects will be carried out as partnering projects, with SSEA Group involved in the early stages and thus in the development phase.

“SSEA Group has added four excellent projects to its backlog of orders that are entirely in line with our business model and our strategic focus on conducting partnering projects together with our customers. We’re pleased that our customers have entrusted us with these assignments and look forward to many years of rewarding collaboration,” says Christian Johansson Gebauer, Chairman of the Board of SSEA Group and President, Business Area Construction & Services, Ratos.

“I’m very proud that we have secured these four projects. SSEA Group’s employees have put in a lot of work, both ahead of and during the tendering period. Now we’re looking forward to getting started with all four projects and helping our customers to realise the most important priorities of the projects,” says Christian Wieland, CEO, SSEA Group.

Information about the four contracts
New arena area in Kungälv – SEK 800 million
In Kungälv, just north of Gothenburg, SSEA Group has a signed an agreement with the municipality of Kungälv to develop and construct a new arena area with a swimming facility, two indoor ice rinks, two sports halls and an ice stadium.

Three other contracts – total value approximately SEK 300 million
Renovation of Vattenpalatset in Lerum
In Lerum, just east of Gothenburg, SSEA Group was awarded the contract for the renovation of Vattenpalatset. The project will involve a major renovation and refurbishment of the existing swimming facility from 1988.

Mobility hub in Väsjön
SSEA Group has an ongoing school project in the new development area around Väsjön together with the municipality of Sollentuna. The municipality has now chosen to exercise an option in the agreement and task SSEA Group with constructing the new mobility hub for the area.

Renovation of preschools in the municipality of Ekerö
In the municipality of Ekerö, SSEA Group has signed an agreement with the municipality to renovate two existing preschools. One of these was included as an option in the agreement.

In all cases, the transactions include a fixed fee for SSEA Group, and the customer’s evaluation of potential partners emphasised the organisation’s experience, earlier reference projects and a description of the proposed execution of each project.

About SSEA Group
SSEA Group has solid expertise in large and technically complex collaboration/partnering projects. SSEA Group carries out construction projects for customers in the private and public sectors across Sweden. The project portfolio includes Sweden’s tallest timber building, Sara Kulturhus in Skellefteå, who won the Träpriset 2024, one of Sweden’s most prestigious architectural tour prizes, awarded by Svenskt Trä.

For more information, please contact:
Josefine Uppling, VP Communication & Sustainability, Ratos, +46 76 114 54 21
Christian Wieland, CEO, SSEA Group, +46 70 654 09 30

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Ratos company Presis Infra secures new contracts amounting to NOK 3 billion in the first half of 2024

Ratos

During the first half of 2024, Ratos company Presis Infra, which specialises in the maintenance of critical infrastructure including ferry quay operation and maintenance, and rockfall protection in Norway and Sweden, was awarded new contracts amounting to NOK 3 billion. In total, there are nine new contracts in both Norway and Sweden, signed with existing customers, with terms from 2024 to 2030.

“As we summarise the first half of 2024, we can state that Presis Infra’s development has been positive and that the company’s establishment in Sweden, which began in 2023, is progressing well. Maintenance of critical infrastructure will play an important role in the future in Norway and Sweden, and Presis Infra has what it takes to succeed and the expertise to do so in a cost-efficient and sustainable manner,” says Christian Johansson Gebauer, Board member of Presis Infra and President, Business Area Construction & Services, Ratos.

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

“We are proud of the confidence our clients have shown in us and look forward to continuing our productive partnership. We are particularly extra proud that we get received such high scores on the mandatory climate elements in the procurements we won. In addition to other compulsory requirements such as price and project understanding, we are strong when it comes to sustainability aspects,” says Eivind Iden, CEO, Presis Infra.

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