T-Mobile and EQT Announce Joint Venture to Acquire Lumos and Build Out the Un-carrier’s First Fiber Footprint

admin April 25, 2024

T-Mobile’s scalable broadband and wireless growth engine combined with EQT’s infrastructure expertise will leverage Lumos’ fiber platform to deliver broadband services to more Americans

BELLEVUE, Wash. & NEW YORK, NY, April 25, 2024, — T-Mobile (NASDAQ: TMUS), America’s 5G leader and fastest growing broadband provider, and EQT, a purpose-driven global investment organization, today announced they have entered into a joint venture (JV) with EQT’s Infrastructure VI fund (EQT) that will acquire fiber-to-the-home platform Lumos from EQT’s predecessor fund EQT Infrastructure III.

The JV will bring T-Mobile’s retail, marketing, brand and customer experience strengths together with EQT’s fiber infrastructure investment expertise. Together they will acquire Lumos’ scalable fiber network build capabilities to deliver best-in-class high-speed fiber internet connectivity to customers across the U.S. without access to fiber today. After the transaction closes, Lumos, which currently reaches 320,000 households over 7,500 route miles with fiber optic internet and home wi-fi service in the Mid-Atlantic, will transition to a wholesale model with T-Mobile as the anchor tenant owning customer relationships and leveraging its brand to attract new subscribers. The JV will focus on market identification and selection, network engineering and design, network deployment, and customer installation.

“As the demand for reliable, low-latency connectivity rapidly increases, this deal is a scalable strategy for T-Mobile to take a significant step forward in expanding on our broadband success and continue shaking up competition in this space to bring even more value and choice to consumers,” said Mike Sievert, CEO of T-Mobile. “Together with EQT and Lumos, T-Mobile is building on our position as the fastest growing broadband provider in the country in a value-accretive way that complements our sustained growth leadership in wireless. Customers – homes and businesses – who get the fast, affordable, and reliable internet they need will be the real winners.”

T-Mobile provides a unique value proposition and much-needed reliable connectivity to homes and businesses across the country through its 5G Internet, a fixed wireless internet service on its 5G network that is available to more than 50 million households and businesses nationwide and serves over 5 million customers, as well as T-Mobile Fiber, which has launched in parts of 16 U.S. markets. Those launches have shown consumer demand for broadband that T-Mobile cannot meet through its fallow capacity fixed wireless product alone, and many customers want the speed and reliability that only fiber can provide.

Jan Vesely, Partner within EQT’s Infrastructure Advisory Team said, “We are proud to have partnered with Lumos over the past six years to rapidly scale the company and roll out fiber to underserved markets, and we look forward to continuing to leverage EQT’s considerable digital infrastructure and fiber expertise to support the significant fiber buildout ambitions of T-Mobile and the JV. This new effort will build critical fiber broadband infrastructure that will enable remote work, education, and healthcare use cases across the country. We have worked with T-Mobile as a customer across many of our existing digital infrastructure investments and are delighted to build on that relationship and partner with T-Mobile on this opportunity to roll out fiber to underserved Americans.”

“Lumos takes great pride in our achievements, as we have successfully delivered fiber to hundreds of thousands of homes and businesses, marking a significant acceleration in our growth. Our commitment to enhancing customers’ lives through the development of a network prepared for the demands of tomorrow remains steadfast,” Brian Stading, CEO of Lumos. “With the support of our private equity partner, EQT, and leveraging the strength of the T-Mobile brand and unrivaled customer experience, Lumos is set to expedite our network expansion. This joint venture will amplify our ability to change lives through the transformative power of fiber optic internet.”

The transaction is expected to close in late 2024 or early 2025, subject to customary closing conditions and regulatory approvals. At closing, T-Mobile is expected to invest approximately $950 million in the JV to acquire a 50% equity stake and all existing fiber customers, with the funds invested by T-Mobile being used by Lumos for future fiber builds. The next capital contribution by T-Mobile out of an additional commitment of approximately $500 million is anticipated between 2027 and 2028. These combined investments are expected to allow Lumos to reach 3.5 million homes passed by the end of 2028. T-Mobile continues to expect to complete its remaining authorization for share repurchases and dividends in 2024.

With this transaction, EQT Infrastructure VI is expected to be 35-40% percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains certain forward-looking statements concerning T-Mobile and the proposed transaction with EQT to acquire regional fiber company Lumos. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “plan,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed transaction, including anticipated future financial and operating results, T-Mobile’s and the joint venture’s objectives, expectations and intentions, the accounting treatment of the proposed transaction, and the expected timing of completion of the proposed transaction. There are several factors which could cause actual plans and results to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to, the failure to satisfy any of the conditions to the proposed transaction on a timely basis or at all; the occurrence of events that may give rise to a right of one or both of the parties to terminate the definitive agreements; adverse effects on the market price of T-Mobile’s common stock and on T-Mobile’s operating results because of a failure to complete the proposed transaction in the anticipated timeframe or at all; negative effects of the pendency or consummation of the proposed transaction on the market price of T-Mobile’s common stock and on T-Mobile’s operating results; the risk of litigation or regulatory actions; and other risks and uncertainties detailed in T-Mobile’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the sections thereof captioned “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” as well as in its subsequent reports on Form 8-K and Form 10-Q, all of which are filed with the SEC and available at www.sec.gov and www.t-mobile.com. Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. T-Mobile assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law. References to our and the SEC’s website are inactive textual references only. Information contained on our and the SEC’s website is not incorporated by reference in this communication and should not be considered to be a part of this communication.

Legal Disclaimer

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

Advisors

Citigroup Global Markets Inc. is serving as T-Mobile’s exclusive financial adviser for the transaction.The Bank Street Group and Simpson Thacher & Bartlett LLP were exclusive advisors to Lumos and EQT Infrastructure III for the transaction.

Kirkland & Ellis LLP, JP Morgan, and Goldman Sachs & Co. LLC advised EQT Infrastructure VI for the transaction.

T-Mobile US, Inc. Media Relations
MediaRelations@t-mobile.com

T-Mobile Investor Relations Contact
investor.relations@t-mobile.com
https://investor.t-mobile.com

EQT Press Office
press@eqtpartners.com

About T-Mobile

T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com

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 LinkedIn, X, YouTube and Instagram.

About Lumos

Lumos provides 100% Fiber Optic Internet, whole-Home Wi-Fi, voice and streaming services, to more than 300,000 homes and businesses across Virginia, North Carolina, and South Carolina. We believe that the possibilities of tomorrow cannot be built on the infrastructure of yesterday. That’s why we’re building a 100% Fiber Optic network from the ground up for families, businesses, and communities, backed by local, expert customer service. An Internet built for that most hopeful of all things – the future. Because whatever the future holds, we make it faster. Learn more at www.LumosFiber.com

Categories: News

Tags: Telecom

European value-for-money optical platform nexeye to be acquired by KKR from 3i, accelerating its strategic growth ambitions

admin April 25, 2024

KKR’s investment enables nexeye to accelerate further its ambitions to expand its optical and hearing care services within existing and new markets, with a continued focus on customer service, product quality and innovation.

Under 3i’s ownership, nexeye has pursued a strategy focused on market expansion and championing a value-for-money offering for customers.

Gorinchem (NL) / London (UK), 25 April 2024 – nexeye (the “Company” or “Group”) today announced that a definitive agreement has been signed whereby investment funds and accounts managed by KKR agreed to acquire the Company from investment firm 3i Group plc.

Headquartered in Gorinchem, the Netherlands, nexeye is a leading European provider of value-for-money eye care operating under the Hans Anders, eyes + more and Direkt Optik labels. The Group, its labels and its 3,500 employees together provide affordable, high-quality eye and hearing care to customers across 719 stores in the Netherlands, Belgium, Germany, Austria and Sweden. Terms of the transaction were not disclosed.

Under 3i’s ownership, nexeye expanded into new markets, most notably with the acquisition of eyes + more in 2019, to enhance accessibility and affordability of essential eye and hearing care. Going forward, nexeye will be uniquely positioned to play a key role in addressing long-term trends driving increasing incidence of vision correction concerns, capitalizing on KKR’s extensive sector experience, global platform and successful track record in the industry.

Bart van den Nieuwenhof, CEO of nexeye, said: “I would like to thank 3i for a true partnership under which we successfully created a leading omnichannel optical platform. We strengthened and developed our organization, modernized and opened stores and realized a step change in omnichannel and digital innovation. Now, we are thrilled to continue this growth path together with KKR. We share a vision to establish nexeye as the leader in the European value-for-money optical sector, with a focus on customer service, product quality and innovation. I look forward to our partnership.”

Boris Kawohl, Partner, Consumer sector head at 3i, said: “We are proud of the transformation from Hans Anders at the time of our investment in 2017 to nexeye now. The best value-for-money offering with good quality products and services has been central to all our efforts. As a result, sales and EBITDA have doubled during 3i’s ownership period. We believe nexeye is now ready for the next international growth phase. We thank Bart and the whole nexeye team and wish them all the best going forward.”

Felix Gernburd, Partner at KKR, said: “We believe nexeye offers a differentiated value proposition for consumers. We are excited to invest in nexeye and to support its management team and employees in their continued ambitions to expand the Company’s footprint and offer the best quality eye and hearing care at affordable prices to consumers.”

Simon Bouchard, Director at KKR, continued: “KKR’s extensive experience and global track record of success in the optical sector underscores our commitment to investing in this important industry. We are confident that our investment in nexeye will best position the Company to capture future growth opportunities and establish it as the leader in the European value-for-money optical and hearing care sector in the long term.”

KKR is making its investment in nexeye primarily through its European Fund VI, an $8 billion fund that invests in the growth of leading businesses by providing access to KKR’s extensive network and business building resources.

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

Jefferies LLC and UBS Investment Bank are acting as financial advisors and Kirkland & Ellis LLP is serving as legal advisor for KKR. Harris Williams and ING Corporate Finance are acting as financial advisors and Clifford Chance LLP is serving as legal advisor for 3i.

-ENDS-

About nexeye

Nexeye is currently active in five European countries with the eyes + more, Hans Anders and Direkt Optik chains. eyes + more operates with 283 stores in Germany, Austria, the Netherlands, Sweden and Belgium, focusing on affordable, fashionable eye wear and is one of the fastest-growing optical chains in Europe. Hans Anders, founded in 1982, is a leading value-for-money chain in the Netherlands and Belgium with 402 stores offering eye and hearing care. Direkt Optik has 34 optical stores across Sweden, is known for its 3 for 1 offer and highly appreciated for the expertise of the qualified opticians in its stores. In total, nexeye and labels employ more than 3,500 people.

About KKR

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

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit www.3i.com.

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Media enquiries

nexeye
Edwin van Wijk

KKR
Frank Jansen

3i Group
Elmley de la Cour

Tel: +31 (0)6 234 802 17
Email: evanwijk@valueatstake.nl

Tel: +31 6 21542369
Email: frank.jansen@fgsglobal.com

Tel: +44 7514 312 439
Email: elmley.delacour@3i.com

Categories: News

Tags: Consumer brands

European Value-For-Money Optical Platform Nexeye To Be Acquired By KKR From 3i, Accelerating Its Strategic Growth Ambitions

admin April 25, 2024

KKR’s investment enables nexeye to accelerate further its ambitions to expand its optical and hearing care services within existing and new markets, with a continued focus on customer service, product quality and innovation.
Under 3i’s ownership, nexeye has pursued a strategy focused on market expansion and championing a value-for-money offering for customers.

Gorinchem (NL) / London (UK), 25 April 2024 – nexeye (the “Company” or “Group”) today announced that a definitive agreement has been signed whereby investment funds and accounts managed by KKR agreed to acquire the Company from investment firm 3i Group plc.

Headquartered in Gorinchem, the Netherlands, nexeye is a leading European provider of value-for- money eye care operating under the Hans Anders, eyes + more and Direkt Optik labels. The Group, its labels and its 3,500 employees together provide affordable, high-quality eye and hearing care to customers across 719 stores in the Netherlands, Belgium, Germany, Austria and Sweden. Terms of the transaction were not disclosed.

Bart van den Nieuwenhof, CEO of nexeye, said: “I would like to thank 3i for a true partnership under which we successfully created a leading omnichannel optical platform. We strengthened and developed our organization, modernized and opened stores and realized a step change in omnichannel and digital innovation. Now, we are thrilled to continue this growth path together with KKR. We share a vision to establish nexeye as the leader in the European value-for-money optical sector, with a focus on customer service, product quality and innovation. I look forward to our partnership.”

Boris Kawohl, Partner, Consumer sector head at 3i, said: “We are proud of the transformation from Hans Anders at the time of our investment in 2017 to nexeye now. The best value-for-money offering with good quality products and services has been central to all our efforts. As a result, sales and EBITDA have doubled during 3i’s ownership period. We believe nexeye is now ready for the next international growth phase. We thank Bart and the whole nexeye team and wish them all the best going forward.”

Felix Gernburd, Partner at KKR, said: “We believe nexeye offers a differentiated value proposition for consumers. We are excited to invest in nexeye and to support its management team and employees in their continued ambitions to expand the Company’s footprint and offer the best quality eye and hearing care at affordable prices to consumers.”

Simon Bouchard, Director at KKR, continued: “KKR’s extensive experience and global track record of success in the optical sector underscores our commitment to investing in this important industry. We are confident that our investment in nexeye will best position the Company to capture future growth opportunities and establish it as the leader in the European value-for-money optical and hearing care sector in the long term.”

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

About Nexeye

About KKR

Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About 3i Group

Media Enquiries
Nexeye

Edwin van Wijk
Tel: +31 (0)6 234 802 17
Email: evanwijk@valueatstake.nl

KKR

Frank Jansen
Tel: +31 6 21542369
Email: frank.jansen@fgsglobal.com

3i Group

Elmley de la Cour
Tel: +44 7514 312 439
Email: elmley.delacour@3i.com

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Categories: News

Tags: Consumer brands

Kühne Holding acquires Pharma Contract Manufacturer Aenova from BC Partners

admin April 24, 2024

Kühne Holding AG has entered into a definitive agreement to acquire pharma contract development and manufacturing organization Aenova Group from leading international investment firm BC Partners. As part of the transaction, BC Partners’ advised funds will reinvest alongside Kühne Holding AG and continue to support Aenova as a minority shareholder. Financial terms were not disclosed.

The Aenova Group is one of the world’s leading CDMOs (Contract Development and Manufacturing Organizations) in the pharmaceutical and healthcare industry. Headquartered in Starnberg, near Munich, and with approximately 4,000 employees in 14 manufacturing sites worldwide, the company is a one-stop service provider for the development, manufacturing, and packaging of drug products for pharma companies around the globe. Under the ownership of BC Partners, the Aenova Group has developed into one of the ten largest CDMOs in the world. In 2023 Aenova has delivered record results with pro-forma revenue of €832m, an increase of 17% on prior year.

The Kühne Holding AG, based in Schindellegi (Switzerland), combines Klaus-Michael Kühne’s business interests. With an entrepreneurial focus, 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.

Dominik de Daniel, CEO at Kühne Holding AG, said: “With this investment, we are taking an important strategic step to enlarge our investment portfolio to include healthcare and pharmaceutical assets with a strong financial base and long-term growth prospects. Aenova is on a great performance track, and we are excited to accelerate it even further under our ownership.”

BC Partners used both the deep origination network of its Hamburg office and its healthcare sector expertise to source the opportunity to invest in Aenova and acquired the Company outside of an auction process. Healthcare is a core sector of focus for BC Partners and its dedicated healthcare investment team has deployed more than €6 billion since inception across 21 healthcare partnerships.

BC Partners’ Chairman, Raymond Svider, added: “It has been a pleasure to partner with Jan and the entire Aenova team on this journey. Together, we have positioned the business as a global leader in contract manufacturing and built solid foundations for future growth, with the company now benefiting from strong sales momentum, a record order book, and supportive sector tailwinds. We’re pleased to see such an important German healthcare business continue its growth trajectory under the strategic ownership of Kühne Holding AG. As a firm, we have a long and successful history of partnering with families and founders across Europe, and we look forward to working closely with Kühne Holding AG and Aenova in this next chapter for the business.”

This transaction presents another opportunity for BC Partners’ funds to return significant capital to investors. BC Partners has signed or completed nine liquidity events in the last 12 months which have realised €8bn of value for BC Partners’ advised funds and co-investors, including the exits of portfolio companies Presidio, Forno d’Asolo Group, IMA, and PetSmart in the past six months alone.

“With the new ownership structure, we will continue to implement our strategy of making Aenova the go-to CDMO with market-leading capabilities and innovative specialty technologies in Europe. With its long-term investment horizon, Kühne Holding AG is a perfect fit for the business to support this strategy. It allows us to continue down the path of operational excellence in the conventional manufacturing business, while building highly sought-after technology platforms and development services to satisfy the customer demand of the future”, emphasizes Jan Kengelbach, CEO at Aenova since 2018.

E3X Partners (“E3X”), in close partnership with Kühne Holding AG, drove the structuring and execution of the proposed acquisition. Martin Mix, Managing Partner at E3X, an investment and advisory firm, comments: “Our partnership with Kühne Holding AG underscores our strategic commitment to bringing together the right long-term partners for driving growth at Aenova.” Jan-Felix Stolz, Managing Partner at E3X, adds: “Aenova has high strategic relevance for a growing European pharma market, and we are enthusiastic about its prospects.”

BC Partners and Aenova have been advised by Jefferies, Kirkland & Ellis, L.E.K. and PwC. Kühne Holding AG and E3X Partners have been advised by Allen & Overy and EY. The transaction is subject to customary closing conditions and approvals of the competent merger control authorities.

-Ends-

About the Aenova Group

The Aenova Group is a leading global contract manufacturer and development service provider for the pharmaceutical and healthcare industry. As a one-stop shop, Aenova develops, produces and packages all common dosage forms, product groups and active ingredient classes from pharmaceuticals to food supplements for human and animal health: solid, semi-solid and liquid, sterile and non-sterile, high and low dosage, OEB 1 to 5 (Occupational Exposure Band). Around 4,000 employees at 14 locations in Europe and the USA contribute to the company’s success. Further information can be found at www.aenova-group.com.

About BC Partners

BC Partners is a leading investment firm with over €40 billion in assets under management across private equity, private debt, and real estate strategies. Established in 1986, BC Partners has played an active role for over three decades in developing the European buy-out market. Today BC Partners integrated transatlantic investment teams work from offices in Europe and North America and are aligned across our four core sectors: TMT, Healthcare, Services & Industrials, and Consumer. Since its foundation, BC Partners has completed over 127 private equity investments in companies with a total enterprise value of over €160 billion and is currently investing its eleventh private equity buyout fund. For further information, visit www.bcpartners.com.

About E3X Partners

E3X Partners is an investment and advisory firm, specializing in long-term partnerships with investment holdings, family offices, and business owners. We offer tailored capital solutions and strategic guidance across both public and private markets, with a focus on Europe. Our bespoke services span investment origination, transaction execution, portfolio management, operational value creation, and board roles. Founded by Martin Mix and Jan-Felix Stolz, E3X Partners leverages expertise from private equity, financial markets, and strategic advisory realms. We forge lasting partnerships built on trust, collaboration, and excellence to drive sustainable growth and deliver enduring value for our partners.

For additional information about E3X Partners, please visit www.e3xpartners.com.

Categories: News

Tags: healthcare Pharmacie

KnowBe4 to Acquire Egress

admin April 24, 2024

TAMPA BAY, Fla.–(BUSINESS WIRE)–KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, today announced it has entered into a definitive agreement to acquire Egress, a leader in adaptive and integrated cloud email security. Egress’ Intelligent Email Security suite provides a set of scaled, AI-enabled security tools with adaptive learning capabilities to help prevent, protect and defend organizations against sophisticated email cybersecurity threats. Further terms of the transaction were not disclosed.

“One of the biggest challenges organizations face is accurately identifying who the next source of compromise is – and why. By combining intelligence and analytics from integrated applications, companies can gain valuable insights across their entire cyber ecosystem, allowing them to focus on the risks that matter most.”

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Organizations globally struggle to contain behavioral-based data breaches, with 74 percent of incidents involving the human element according to Verizon’s Data Breach Investigations Report. By acquiring Egress, KnowBe4 plans to deliver a single platform that aggregates threat intelligence dynamically, offering AI-based email security and training that is automatically tailored relative to risk.

“The future of security is personalized AI-driven controls and real-time coaching. By providing a single platform from KnowBe4 and Egress, our customers will benefit from differentiated aggregate threat detection to stay ahead of evolving cyber threats and foster a strong security culture,” said Stu Sjouwerman, CEO, KnowBe4. “As integration partners for over a year with strong philosophical and cultural alignment, this acquisition is a natural progression for both companies to take human risk management and cloud email security to the next level.”

“KnowBe4 and Egress have a shared vision of delivering tailored and relevant security to each employee,” said Tony Pepper, CEO, Egress. “One of the biggest challenges organizations face is accurately identifying who the next source of compromise is – and why. By combining intelligence and analytics from integrated applications, companies can gain valuable insights across their entire cyber ecosystem, allowing them to focus on the risks that matter most.”

The announcement comes on the heels of significant achievements for both companies thus far in 2024. KnowBe4 recently announced its AI-native platform, Artificial Intelligence Defense Agents (AIDA), which incorporates advanced AI agents to power efficacy and speed. Recent notable awards include being recognized as a Top Software Winner by G2 and a winner of Energage’s Top Workplaces USA for 2024. Meanwhile, Egress launched its AI-powered Automated Abuse Mailbox in early April and received several award recognitions, including Security Innovation of the Year (Computing Security Excellence Awards), Best Email Security Solution, Best Data Leak Prevention Solution (SC Awards Europe) and Best Place to Work in the UK (Great Places to Work 2024).

The transaction is expected to close in the coming months subject to customary closing conditions and regulatory approvals.

Egress is backed by FTV Capital and AlbionVC. Citi served as exclusive financial advisor to Egress and Orrick, Herrington & Sutcliffe LLP served as legal counsel to Egress.

For more information on KnowBe4, visit www.knowbe4.com. For more information on Egress, visit www.egress.com.

About KnowBe4

KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, is used by more than 65,000 organizations around the globe. Founded by IT and data security specialist Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness about ransomware, CEO fraud and other social engineering tactics through a new-school approach to awareness training on security. The late Kevin Mitnick, who was an internationally recognized cybersecurity specialist and KnowBe4’s Chief Hacking Officer, helped design the KnowBe4 training based on his well-documented social engineering tactics. Organizations rely on KnowBe4 to mobilize their end users as their last line of defense and trust the KnowBe4 platform to strengthen their security culture and reduce human risk.

About Egress

As advanced persistent threats continue to evolve, we recognize that people are the biggest risk to organizations’ security and are most vulnerable when using email.

Egress is the only cloud email security platform to continuously assess human risk and dynamically adapt policy controls, preparing customers to defend against advanced phishing attacks and outbound data breaches before they happen. Leveraging contextual machine learning and neural networks, with seamless integration using cloud-native API architecture, Egress provides enhanced email protection, deep visibility into human risk, and instant time to value.

Contacts

Kathy Wattman
Kathyw@knowbe4.com
(727) 474-9950
Or
PR@KnowBe4.com

Categories: News

Tags: Cybersecurity

CapMan Buyout exits Havator to BMS Stangeland

admin April 24, 2024

CapMan Buyout exits Havator to BMS Stangeland

Funds managed by CapMan Buyout have agreed to sell Havator Group Oy, a Nordic leader in lifting, special transport and heavy haulage services, to a joint venture owned by the Danish–Norwegian crane operator BMS Group A/S and Stangeland Gruppen AS.

CapMan invested in Havator in 2010 and has since focused on growing the company’s business and position on the Nordic market. Today, the company is a Nordic leader in lifting, special transport and heavy haulage services with a turnover of approximately EUR 100 million and nearly 500 employees.

“I want to thank the leadership and personnel at Havator for the excellent cooperation throughout the years. I am glad the company’s new owners provide such an excellent strategic fit and believe them to enable exciting growth opportunities,” says Anders Björkell, Partner at CapMan Buyout.

“A Nordic consolidation is something our industry has been expecting. The new set-up will allow Havator to leverage an even stronger and broader service offering to its clients and also offer more uniform services to clients operating on a Nordic scale. Joining a pan-Nordic company will also offer our personnel an even more international outlook towards the future, combined with growing opportunities to develop competencies and careers. I am also pleased that our new owner is a true industrial player,” says Hannu Leinonen, CEO of Havator.

“We have always looked at Havator as a great and highly respected crane colleague in the Nordics. We have for quite some years followed Havator closely, so we are very happy that the time was now right to join forces. Havator is – as Stangeland and BMS – a mature company with aligned values and a very loyal and competent workforce. We are therefore looking forward to welcoming the Havator-employees to our crane-family,” says Jens Enggaard, CEO of BMS.

As part of the transaction, the joint venture BMS Stangeland A/S acquires the entire capital stock of Havator from the CapMan Buyout IX Fund and Havator’s other current owners. The closing of the transaction is expected during the spring 2024 and is subject to regulatory approvals and customary closing conditions.

For more information, please contact:

Anders Björkell, Partner, CapMan Buyout, +358 40 537 7566

Hannu Leinonen, CEO, Havator, +358 40 588 7804

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Havator

Havator, established in Finland in 1956, is the Nordic leader in lifting, special transport and heavy haulage services. We operate in Finland, Sweden, Norway and Estonia. Our goal is to be at the forefront of development, to be a leader in developing the operations’ safety and efficiency, without forgetting the industry’s traditions. Havator Group Oy has a turnover of approximately EUR 100 million and employs approximately 500 people. Read more: havator.com

Categories: News

Tags: Logistics

PAI Partners to acquire majority stake in Audiotonix

admin April 23, 2024

PAI Partners (“PAI”), a pre-eminent private equity firm, and Ardian, a world-leading investment house, today announce that they have agreed a deal for Audiotonix, a global leader in the professional audio mixing console and ancillary products market. Upon completion, PAI will acquire a majority stake and become the largest shareholder in Audiotonix, with Ardian retaining a minority stake alongside management.

Headquartered in the UK, Audiotonix specialises in designing, engineering and manufacturing products that enable outstanding sound quality for a variety of formats, from blockbuster live tours and concerts, theatre shows and major international live events to TV, film, music recording, sporting occasions and places of worship. Audiotonix’s products have been used on global tours by artists such as Coldplay and U2, at major sporting events including the Super Bowl and FIFA World Cup, and in iconic venues like the Las Vegas Sphere.

Audiotonix is well positioned within the audio mixing console market and other attractive audio segments with its leading portfolio of prestigious brands, including Allen & Heath, DiGiCo, Calrec, Solid State Logic, Sound Devices, Slate Digital, and sonible, which cater to high-specification professional end-users and sound engineers globally. Backed by an industry-leading management team with an outstanding track record, Audiotonix distributes its products through an international network of more than 400 value-added distributors and partners in more than 90 countries worldwide, with a sizable footprint in North America.

Audiotonix was acquired by Ardian in March 2020. Despite pandemic restrictions, under Ardian’s ownership, the group has continued to expand organically. During this time, the group has secured five strategic acquisitions to further diversify and strengthen its portfolio, developed new market-leading products, increased its focus on software and reinforced its management team. Audiotonix today possesses the most extensive product portfolio in the market.

PAI’s investment will support Audiotonix to leverage sustained and accelerating secular trends towards the experience economy. It will also continue to support further strengthening of the group’s R&D capabilities, foster brand synergies, drive organic growth and pursue strategic M&A opportunities across the audio ecosystem.

James Gordon, CEO, Audiotonix, said: “I would like to thank Ardian for the confidence and solid support of Audiotonix, the management team and our staff. The team invested alongside us just as the Covid lockdown began, and from our first meeting were aligned with us, making sure Audiotonix emerged in a stronger position than before. As management, the most critical challenge with a process like this is selecting the right partner moving forward, who understands what the business is today and can get behind the vision of what it can become. With PAI, it is clear this is a team and partner we can take Audiotonix to the next level with, while preserving the passion and energy that have made the group the success it has become in our industry.”

Olivier Personnaz, Head of Buyout UK & Managing Director, Ardian, said: “There has been a revolution in the way people enjoy and appreciate all forms of entertainment. When we first invested, we believed the team at Audiotonix were best placed to become a global leader in audio technology. We backed management to invest and build out an R&D team larger than any competitor and one that has consistently delivered technically and commercially outstanding products. We have also supported the business in expanding into software via M&A. Today, Audiotonix is undoubtedly the leading player in a market where we see long-term tailwinds. We want to thank the management team, led by James Gordon, for their exceptional performance, resilience and quick thinking. Audiotonix still has tremendous potential to grow in an evolving global market with the support of PAI.”

Colm O’Sullivan and Neil McIlroy, both Partners, PAI, said: “We are delighted to partner with James Gordon and the exceptional Audiotonix management team, alongside Ardian, in this next chapter of growth. Audiotonix is well placed to benefit from positive structural tailwinds in the experience economy and diverse professional audio environments – whether in live entertainment, installed professional audio, music or sports. We look forward to working with the team as the group continues to deliver market-leading, professional products, defining audio experiences worldwide.”

Ardian was advised by Goldman Sachs, Allen & Overy, McKinsey and PwC. PAI was advised by Weil Gotshal & Manges, McKinsey and Alvarez & Marsal. Audiotonix was advised by Liberty Corporate Finance, Macfarlanes and PwC.

Categories: News

Tags: Industrie

Main Capital Partners announces its largest strategic exit to date with acquisition of Enovation by Legrand after successful partnership

admin April 23, 2024

Legrand is a French publicly listed specialist in electrical and digital building infrastructures and digital care solutions, dedicated to supporting technological, societal and environmental change around the globe. Under Main’s stewardship, Enovation expanded its market-leading position in the healthcare industry and successfully became one of the few healthcare software providers to cover a wide spectrum of the connected care ecosystem with a presence in Northwestern Europe. This strategic exit represents yet another successful exit for Main in one of its core product-markets and marks Main’s largest exit in its history.

In 2018, Main Capital Partners made its strategic investment in Enovation and started its collaboration with the management team of Enovation. During its cooperation with Main, Enovation transformed its profile significantly from a secure communication and information exchange vendor in the Dutch healthcare market, to a leading European connected care and eHealth platform provider focused on digital care and collaboration throughout the entire patient journey, currently employing around 300 FTE.

Supported by Main, Enovation significantly grew its software businesses, both organically as well as through eight selective strategic add-on acquisitions that broadened the company’s product portfolio and expanded its addressable market. Main’s CEO Charly Zwemstra has served as Chairman of the Supervisory Board during Main’s investment period, in which, Enovation’s revenues nearly tripled and the international footprint improved significantly from a primary focus on the Dutch market to activities in almost 20 countries. Enovation is well positioned to further capitalize on these achievements in the coming years, contributing further to digitizing the healthcare sector throughout Europe. This step of joining Legrand, enables Enovation to leverage their joint expertise and knowledge in order to continue on Enovation’s mission to contribute to an efficient healthcare system, making good care accessible to everyone, everywhere, at all times.

Jeroen van Rijswijk, CEO of Enovation, comments on the combination with Legrand: “During our successful partnership with Main over the past six years, Enovation was able to substantially improve its international profile and market position. Main moreover helped us to create further value in healthcare by enhancing the care experiences of patients across the European healthcare industry. This new chapter marks a wonderful next step for Enovation and we are excited to join Legrand and serve our clients even better, as we now have access to a lot of new expertise as well as great international execution power.”

Benoît Coquart, Legrand’s Chief Executive Officer, adds: “We are very pleased to announce this investment in areas that are at the heart of buoyant trends and as such, of our growth acceleration strategy. We are also excited to work with the teams of these industry-leading companies.”

Sjoerd Aarts, Partner & Head of Benelux at Main Capital, concludes: “We supported in expanding Enovation’s product proposition and increasing its international footprint across North-Western Europe, transforming Enovation’s profile into a market-leading software player in healthcare. This successful partnership within one of our core product-markets once more underlines the added value of our highly specialized investment strategy, and culminated in a milestone exit for Main. We congratulate Enovation on this new chapter, joining Legrand.”

This successful partnership within one of our core product-markets once more underlines the added value of our highly specialized investment strategy, and culminated in a milestone exit for Main.”

– Sjoerd Aarts, Partner & Head of Benelux at Main Capital Partners

Enovation

For more than 40 years, Enovation has been bringing technology and healthcare together. By facilitating digital cooperation and connections between people, we make the care of today and the future possible. This is how we contribute to the sustainable healthcare system of the future, in which the human experience remains at the center. Thanks to our platform, healthcare providers can focus on what is most important: time and attention for people. Our software supports digital care and collaboration throughout the patient journey. From early detection to remote monitoring and everything in between, our platform facilitates integrated care – at every step.

Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: datacenters, connected offerings and energy efficiency programs). Legrand reported sales of €8.3 billion in 2022. The company is listed on Euronext Paris and is notably a component stock of the CAC 40, CAC 40 ESG and CAC SBT 1.5 indexes. (code ISIN FR0010307819).

Categories: News

Ardian and PAI Partners agree deal for Audiotonix

admin April 23, 2024

PAI agrees to acquire majority stake in Audiotonix, Ardian retains minority stake alongside management
• The transaction marks a new chapter of growth for the world leader in premium audio equipment and software
• UK-headquartered Audiotonix is now active in 90 countries, with over 750 employees

PAI Partners (“PAI”), a pre-eminent private equity firm, and Ardian, a world-leading investment house, today announce that they have agreed a deal for Audiotonix, a global leader in the professional audio mixing console and ancillary products market. Upon completion, PAI will acquire a majority stake and become the largest shareholder in Audiotonix, with Ardian retaining a minority stake alongside management.

“There has been a revolution in the way people enjoy and appreciate all forms of entertainment. When we first invested, we believed the team at Audiotonix were best placed to become a global leader in audio technology. We backed management to invest and build out an R&D team larger than any competitor and one that has consistently delivered technically and commercially outstanding products. We have also supported the business in expanding into software via M&A. Today, Audiotonix is undoubtedly the leading player in a market where we see long-term tailwinds. We want to thank the management team, led by James Gordon, for their exceptional performance, resilience and quick thinking. Audiotonix still has tremendous potential to grow in an evolving global market with the support of PAI.” Olivier Personnaz, Head of Buyout UK and Managing Director, Ardian

“I would like to thank Ardian for the confidence and solid support of Audiotonix, the management team and our staff. The team invested alongside us just as the Covid lockdown began, and from our first meeting were aligned with us, making sure Audiotonix emerged in a stronger position than before. As management, the most critical challenge with a process like this is selecting the right partner moving forward, who understands what the business is today and can get behind the vision of what it can become. With PAI, it is clear this is a team and partner we can take Audiotonix to the next level with, while preserving the passion and energy that have made the group the success it has become in our industry.” James Gordon, CEO, Audiotonix

“We are delighted to partner with James Gordon and the exceptional Audiotonix management team, alongside Ardian, in this next chapter of growth. Audiotonix is well placed to benefit from positive structural tailwinds in the experience economy and diverse professional audio environments – whether in live entertainment, installed professional audio, music or sports. We look forward to working with the team as the group continues to deliver market-leading, professional products, defining audio experiences worldwide.” Colm O’Sullivan and Neil McIlroy, Partners, PAI

LIST OF PARTICIPANTS

ARDIAN
- GOLDMAN SACHS (KHAMRAN ALI, ANDRE KELLENERS, OWAIN EVANS)
- ALLEN & OVERY (STEPHEN LLOYD, MONIKA PRZYGODA, TINA BARAZANDEH-NEJAD)
- MCKINSEY (WESLEY HAYES, ROB HAMILL)
- PWC (TOM AYERST, KATE CONIBERE)
PAI
- WEIL GOTSHAL & MANGES (JONATHAN WOOD, TOMASZ RODZOCH, PRIYA SHAH)
- MCKINSEY (SEBASTIAN GIMENEZ, GUILLAUME CAZALAA, KAYLA MIELE)
- ALVAREZ & MARSAL (CHRISTOPHER POWELL, ALEX SAKLOW, NICK WALTON, RUHI AGARWAL)
AUDIOTONIX
- LIBERTY CORPORATE FINANCE (SIMON HILL)
- MACFARLANES (STEPHEN DREWITT, EMMA BAILEY)
- PWC (SHARON CHAKKAR)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 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.

ardian.com

ABOUT PAI PARTNERS

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has c. €27 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised more than €24 billion in proceeds from 60 exits. PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience, and long-term vision enable companies to pursue their full potential – and push beyond. Learn more about the PAI story, the team and their approach at: www.paipartners.com.

www.paipartners.com

ABOUT AUDIOTONIX

Audiotonix is a global market leader in the design, engineering and manufacture of professional audio mixing consoles, production software and ancillary products. With pioneering solutions from premium audio brands Allen & Heath, Calrec, DiGiCo, DiGiGrid, Fourier Audio, Harrison, KLANG:technologies, Slate Digital, Solid State Logic, sonible and Sound Devices, our products are used extensively in live sound, broadcast, theatre production, installations, house of worship, TV and film production, music creation and recording studios.

audiotonix.com

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags: Consumer brands

Coupa and Bottomline Partner to Optimize and Streamline Payments

admin April 22, 2024

Coupa Pay customers can now pay suppliers via Premium ACH on Bottomline’s Paymode-X Business Payments Network

LAS VEGAS, NV and Portsmouth, NH—Coupa, the margin multiplier company, and Bottomline, a global leader in business payments, announced a strategic partnership to simplify digital payment processes for businesses. Coupa can now connect to Paymode-X, Bottomline’s business payments network that offers Premium ACH, to automate payments from buyers to suppliers.

Coupa Pay offers a single platform for managing all business payments across different countries and currencies. By utilizing the Premium ACH offering, customers will further optimize their payment stack, enhance payment security, receive more payment rebates, and improve their overall source-to-pay experience. Premium ACH is a powerful extension of the Coupa platform and requires no data or technology integration, or additional storage.

Leveraging the Paymode-X network’s leading fraud prevention capabilities, Coupa Pay will be able to offer enhanced security for payments made to suppliers who prefer to accept Premium ACH as a payment method.

With Premium ACH, suppliers receive enhanced data and reconciliation information, as well as rich reporting, and can lower their cost of payment acceptance. Providing this important data and reconciliation, Premium ACH helps strengthen relationships between payers and their suppliers.

“We are delighted to partner with a leader in source-to-pay (S2P) to modernize and fully digitize payment processes between buyers and suppliers. By integrating Paymode-X with Coupa Pay, payments are simplified for buyers and suppliers,” said Jeff Feuerstein, SVP Commercial & Payment Product Management, Paymode-X at Bottomline. “Coupa customers can unlock more value by paying suppliers using Premium ACH, which continues to drive increased value for members of the Paymode-X network.”

“Businesses today are all striving to deliver greater results with more efficiency. This partnership with Coupa and Bottomline optimizes payment processes and drives business results at scale. By automating the entire payment lifecycle through Bottomline’s secure payments network, businesses also benefit from stronger supplier relationships by improving payment timeliness and providing better data visibility,” said Bill Wardwell, General Manager of Coupa Pay and Treasury.

The partnership is the first launched through Bottomline’s network-as-a-service solution, announced last October. The new offering opens the Paymode-X network’s 550,000+ authenticated suppliers and the network’s proprietary Premium ACH payment type to Coupa Pay customers. Coupa Pay with Paymode-X will be generally available in May.

About Bottomline
Bottomline helps businesses transform the way they pay and get paid. A global leader in business payments and cash management, Bottomline’s secure, comprehensive solutions modernize payments for businesses and financial institutions globally. With over 30 years of experience, moving more than $10 trillion in payments annually, Bottomline is committed to driving impactful results for customers by reimagining business payments and delivering solutions that add to the bottom line. Bottomline is a portfolio company of Thoma Bravo, one of the largest software private equity firms in the world, with more than $130 billion in assets under management. For more information, visit www.bottomline.com. Bottomline and the Bottomline logo are trademarks or registered trademarks of Bottomline Technologies, Inc.

About Coupa
Coupa® makes margins multiply through its community-generated AI and industry leading total spend management platform for businesses large and small. Coupa AI is informed by trillions of dollars of direct and indirect spend data across a global network of 10M+ buyers and suppliers. We empower you with the ability to predict, prescribe, and automate smarter, more profitable business decisions to improve operating margins. Coupa is the margin multiplier company™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter).

Read the release on the Coupa website here and on the Bottomline website here.

Categories: News

Tags: Banking

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European value-for-money optical platform nexeye to be acquired by KKR from 3i, accelerating its strategic growth ambitions

European Value-For-Money Optical Platform Nexeye To Be Acquired By KKR From 3i, Accelerating Its Strategic Growth Ambitions

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Kühne Holding acquires Pharma Contract Manufacturer Aenova from BC Partners

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CapMan Buyout exits Havator to BMS Stangeland

PAI Partners to acquire majority stake in Audiotonix

Main Capital Partners announces its largest strategic exit to date with acquisition of Enovation by Legrand after successful partnership

This successful partnership within one of our core product-markets once more underlines the added value of our highly specialized investment strategy, and culminated in a milestone exit for Main.”

About

Enovation

Legrand

Ardian and PAI Partners agree deal for Audiotonix

LIST OF PARTICIPANTS

ABOUT ARDIAN

ABOUT PAI PARTNERS

ABOUT AUDIOTONIX

Coupa and Bottomline Partner to Optimize and Streamline Payments

Category Archives: News

About Nexeye

About KKR

About 3i Group

Media Enquiries Nexeye

KKR

3i Group

Contacts

This successful partnership within one of our core product-markets once more underlines the added value of our highly specialized investment strategy, and culminated in a milestone exit for Main.”

About

Enovation

Legrand

LIST OF PARTICIPANTS

ABOUT ARDIAN

ABOUT PAI PARTNERS

ABOUT AUDIOTONIX

Media Enquiries
Nexeye