Category Archives: News

Textainer to be Acquired by Stonepeak for $7.4 Billion

Stonepeak

 

Textainer Shareholders to Receive $50.00 Per Share in Cash

HAMILTON, Bermuda and NEW YORK, October 22, 2023 – Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) (“Textainer”, “Company”, “we” and “our”), one of the world’s largest lessors of intermodal containers, today announced that it has entered into a definitive agreement to be acquired by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. Upon completion of the transaction and the redemption of Textainer’s Series A and B cumulative redeemable perpetual preference shares, Textainer will become a privately held company.

Under the terms of the definitive agreement, which was unanimously approved by the Textainer Board of Directors, Textainer common shareholders will receive $50.00 per share in cash, with the total value of the common shares equaling approximately $2.1 billion. This transaction represents an enterprise value of approximately $7.4 billion. The purchase price represents a premium of approximately 46% over Textainer’s closing share price on October 20, 2023, the last full trading day prior to the transaction announcement. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate established in accordance with the merger agreement.

“This transaction has been made possible by our strong company foundation reaffirmed over the last several years, which allowed for both substantial capex growth and the strengthening of our business, further driven by our deep customer relationships,” said Olivier Ghesquiere, President and Chief Executive Officer. “By partnering with Stonepeak, we will gain access to investment capital and industry expertise, positioning us for continued growth in the years to come. I would like to especially thank our employees for all they have done to get us to this point and for the part they will play in the years ahead.”

“Textainer has operated since 1979, becoming a publicly traded company in 2007. After 16 years of operating in the public equity markets, we are very excited to start this new chapter as a private company. We’re particularly proud to have delivered a transaction that creates significant and immediate value for our common shareholders,” said Hyman Shwiel, Chairman of the Board of Textainer. “This transaction validates the success of Textainer’s strategy and the positive momentum in the business. With the support of an experienced partner like Stonepeak, we are well positioned to continue delivering high quality equipment and best-in-class service to customers worldwide.”

“Textainer forms a critical link in global trade. The business is underpinned by high-quality assets and contracted cash flows that provide substantial downside protection and resilient through-cycle performance,” said James Wyper, Senior Managing Director at Stonepeak. “These characteristics, along with Textainer’s commitment to customers and disciplined approach to capital expenditure, are what make the Company a leader in the sector. We look forward to working closely with Textainer to help further their strategy and growth.”

Approvals and Timing

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including approval by Textainer shareholders and the receipt of required regulatory clearances and approvals. The transaction is not subject to a financing condition.

The definitive merger agreement includes a 30-day “go-shop” period expiring at 12:01 a.m. Eastern Time on November 22, 2023, which permits Textainer and its financial advisor to continue to actively solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the Company does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or is otherwise required.

Following the completion of the transaction, Textainer will continue to be led by its President and CEO, Olivier Ghesquiere, and will continue to be headquartered in Hamilton, Bermuda.

Prior to closing, Textainer intends to maintain its current quarterly dividend on both the Textainer common and preference shares. We currently expect that Textainer’s Series A and B cumulative redeemable perpetual preference shares will be called for redemption at the amount set forth in the applicable certificate of designation for such preference shares no later than 120 days following the closing. Shortly after completion of the transaction, Textainer common shares will no longer be listed on the New York Stock Exchange and Johannesburg Stock Exchange.

Advisors

BofA Securities is serving as financial advisor to Textainer. O’Melveny & Myers LLP is acting as lead legal counsel.

Deutsche Bank is acting as financial advisor to Stonepeak. Simpson Thacher & Bartlett LLP is acting as lead legal counsel.

About Textainer Group Holdings Limited

Textainer has operated since 1979 and is one of the world’s largest lessors of intermodal containers with more than 4 million TEU in our owned and managed fleet. We lease containers to approximately 200 customers, including all of the world’s leading international shipping lines, and other lessees. Our fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials. We also lease tank containers through our relationship with Trifleet Leasing and are a supplier of containers to the U.S. Military. Textainer is one of the largest and most reliable suppliers of new and used containers. In addition to selling older containers from our fleet, we buy older containers from our shipping line customers for trading and resale and we are one of the largest sellers of used containers. Textainer operates via a network of 14 offices and approximately 400 independent depots worldwide. Textainer has a primary listing on the New York Stock Exchange (NYSE: TGH) and a secondary listing on the Johannesburg Stock Exchange (JSE: TXT). Visit www.textainer.com for additional information about Textainer.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements.” Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual results to differ materially include the following: risks related to the satisfaction or waiver of the conditions to closing the proposed acquisition (including the failure to obtain necessary regulatory approvals and failure to obtain the requisite vote by Textainer’s shareholders) in the anticipated timeframe or at all, including the possibility that the proposed acquisition does not close; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the definitive merger agreement, including in circumstances requiring Textainer to pay a termination fee; the possibility that competing offers may be made; risks related to the ability to realize the anticipated benefits of the proposed acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; continued availability of capital and financing; disruptions in the financial markets; certain restrictions during the pendency of the transaction that may impact Textainer’s ability to pursue certain business opportunities or strategic transactions; risks related to diverting management’s attention from Textainer’s ongoing business operation; negative effects of this announcement or the consummation of the proposed acquisition on the market price of Textainer’s common shares, preference shares and/or operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition, other business effects and uncertainties, including the effects of industry, market, business, economic, political or regulatory conditions; decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; customers’ decisions to buy rather than lease containers; increases in the cost of repairing and storing Textainer’s off-hire containers; Textainer’s dependence on a limited number of customers and suppliers; customer defaults; decreases in the selling prices of used containers; the impact of COVID-19 or future global pandemics on Textainer’s business and financial results; risks resulting from the political and economic policies of the United States and other countries, particularly China, including but not limited to, the impact of trade wars, duties, tariffs or geo-political conflict; risks stemming from the international nature of Textainer’s business, including global and regional economic conditions, including inflation and attempts to control inflation, and geopolitical risks such as the ongoing war in Ukraine and activities in Israel; extensive competition in the container leasing industry and developments thereto; decreases in demand for international trade; disruption to Textainer’s operations from failures of, or attacks on, Textainer’s information technology systems; disruption to Textainer’s operations as a result of natural disasters; compliance with laws and regulations related to economic and trade sanctions, security, anti-terrorism, environmental protection and anti-corruption; the availability and cost of capital; restrictions imposed by the terms of Textainer’s debt agreements; and changes in tax laws in Bermuda, the United States and other countries.

You should carefully consider the foregoing factors and the other risks and uncertainties that affect Textainer’s business described in the “Risk Factors” and “Information Regarding Forward-Looking Statements; Cautionary Language” sections of its Annual Report on Form 20-F and other documents filed from time to time with the U.S. Securities and Exchange Commission (the “SEC”), all of which are available at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Textainer assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. Textainer does not give any assurance that it will achieve its expectations.

Additional Information and Where to Find It

Textainer intends to file a proxy statement for a special meeting of the Textainer shareholders and may also file other relevant documents with the SEC regarding the proposed acquisition. This communication is not a substitute for the proxy statement (when available) or any other document that Textainer may file with the SEC with respect to the proposed transaction. The definitive proxy statement will be mailed or otherwise furnished to Textainer’s shareholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT TEXTAINER AND THE PROPOSED TRANSACTION.

Investors and security holders will be able to obtain copies of these materials (if and when they are available) and other documents containing important information about Textainer and the proposed transaction, once such documents are filed with the SEC free of charge through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Textainer will be made available free of charge on Textainer’s investor relations website at https://investor.textainer.com/.

No Offer or Solicitation

This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Participants in the Solicitation

Textainer and its directors and certain of its executive officers and other employees may be deemed to be participants in the solicitation of proxies from Textainer’s shareholders in connection with the proposed transaction. Information about Textainer’s directors and executive officers is set forth in Textainer’s Form 20-F, which was filed with the SEC on February 12, 2023. Investors may obtain additional information regarding the interest of such participants by reading the proxy statement and other relevant materials regarding the acquisition to be filed with the SEC in respect of the proposed transaction when they become available. These documents can be obtained free of charge from the sources indicated above in “Additional Information and Where to Find It”.

 

Contacts

Textainer
Investor Relations
+1 415-658-8333
ir@textainer.com

Stonepeak
Kate Beers / Maya Brounstein
Corporate Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100

 

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General Atlantic to acquire a minority stake in TBO.com, a global travel distribution platform

National, October 22, 2023: General Atlantic (“GA”), a leading global investor, has entered into an agreement with entities held by Affirma Capital to acquire a minority stake in TBO Tek Ltd (“TBO” or “Company”). Subsequent to this transaction, Affirma Capital will continue to remain invested in the Company.

Founded in 2006, TBO is a global travel distribution platform with $2.73B in Gross Transaction Value (“GTV”) for FY23 and a presence in 100+ countries as of 30 June 2023. TBO simplifies the business of travel for travel suppliers such as hotels, airlines, car rentals, transfers, insurance providers, cruises, rail and other vendors (“Suppliers”); retail buyers including travel agencies and independent travel advisors; and enterprise buyers such as tour operators, travel management companies, online travel companies, and super apps (together, “Buyers”) through a two-sided technology platform that enables both Suppliers and Buyers to transact seamlessly. TBO allows the large and fragmented base of Suppliers to market inventory and set prices for the similarly large and fragmented Buyer base. For Buyers, TBO’s platform is an integrated, multi-currency and multi-lingual one-stop solution that helps them discover and book travel for destinations worldwide and across various travel segments. On average, 40K+ annual transacting Buyers get real-time access to global travel inventory of 700+ airlines and 1M+ hotels on the platform.

With shifting demographics, rising disposable incomes, and greater participation from emerging economies, the global travel and tourism industry has evolved to cater to diverse preferences and has experienced a considerable resurgence post the COVID-19 pandemic. With its end-to-end comprehensive offerings across the travel value chain, TBO is well positioned to capitalize on the evolving travel landscape and strengthen its position as the partner of choice for travel Suppliers and Buyers globally.

“Gaurav, Ankush and the entire TBO team have pursued a clear mission to simplify travel sales in a growing and increasingly diverse traveler environment. They have been focused on building a unique technology platform that is able to deliver discovery, trust, payments and services to its Suppliers and Buyers. We see immense potential in the path ahead for TBO, including global expansion opportunities, and are excited to partner with the Company to help enable the next generation of travel globally”, said Shantanu Rastogi, Managing Director and Head of India at General Atlantic.

“TBO’s strategy is underpinned by our focus on amplifying platform value by growing our user base and lines of business, and through leveraging our deep technology and data capabilities to enhance the Buyer experience and Supplier engagement. We are grateful to Affirma Capital who have supported us immensely during the last five years, including during the COVID pandemic, and have been true value-add partners in our scale-up journey so far. We believe that General Atlantic, with their longstanding history of helping technology companies build enduring models, is an ideal partner for this stage of our growth journey. We are thrilled to have their backing and look forward to leveraging their expertise”, commented Gaurav Bhatnagar and Ankush Nijhawan, co-founders of TBO.

“Since our investment in 2018, we have witnessed TBO’s transformational journey to becoming one of the leading travel technology platforms globally, creating meaningful value for its shareholders along the way, as has been crystallised in Affirma Capital’s multi-fold return on investment as part of this transaction. TBO is on the cusp of consolidating the travel technology landscape, and we continue to believe in its potential to aggregate and digitize travel for travel partners across the globe and are excited to continue to retain a significant minority stake in the business”, said Udai Dhawan, founding partner and India Head at Affirma Capital.

General Atlantic was advised by Bharucha and Partners (legal advisor).

TBO and Affirma Capital were advised by Goldman Sachs (financial advisor), Quillon Partners (legal advisor to Affirma Capital), and Kaizen Law (legal advisor to TBO).

About General Atlantic

General Atlantic is a leading global investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of September 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

About Affirma Capital

Affirma Capital is an independent emerging market private equity firm owned and operated by the former senior leadership of Standard Chartered Private Equity. It currently manages c. USD 3.2 billion in assets for leading global limited partners and sovereign wealth funds. Affirma Capital has offices in Singapore, Seoul, Shanghai, Mumbai, Dubai, and Johannesburg.

About TBO Tek Ltd

TBO is one of the leading global travel distribution platforms that offers an integrated two-sided technology platform, thus acting as a seamless interface between Suppliers and Buyers. TBO’s platform allows the large and fragmented base of Suppliers to display and market inventory to, and set prices for, the large and fragmented global buyer base. TBO has a diversified global footprint and revenue mix, and has regional operation centres across India, Middle East, Europe, North America, APAC and Latin America.

Media Contacts

Emily Japlon & Liz McBain
General Atlanticmedia@generalatlantic.com

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CapMan to publish its 1–9 2023 Interim Report on Thursday 26 October 2023

Capman

CapMan Plc press release
19 October 2023 at 12:15 p.m. EEST

CapMan to publish its 1–9 2023 Interim Report on Thursday 26 October 2023

CapMan will publish its interim report for the period 1 January–30 September 2023 on Thursday 26 October 2023 around 8.00 a.m. EEST as a stock exchange release.

The company’s CEO Pia Kåll will present the results for the review period to analysts, investors and the media over a live webcast press conference starting at 9.30 a.m. EEST available at https://capman.videosync.fi/2023-q3-results. The result presentation is followed by a Q&A.

The conference will be held in English. The presentation material will be available at CapMan’s website after the event (https://www.capman.com/shareholders/financial-reports/).

For further information, please contact:
Linda Tierala, Director, IR and Sustainability, tel. +358 40 571 7895, linda.tierala@capman.com

Webcast:
26 October 2023 at 9.30 a.m. EEST
https://capman.videosync.fi/2023-q3-results

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. 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. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

Categories: News

KKR Announces Initial Result Of The Voluntary Public Takeover Offer For OHB SE – Additional Acceptance Period To Run Until 3 November

KKR

20 October 2023 – Orchid Lux HoldCo S.à r.l. (“Bidder”), a holding company controlled by investment funds, vehicles and/or accounts advised and managed by various subsidiaries of Kohlberg Kravis Roberts & Co. L.P. (“KKR”), today announced the result of the voluntary public takeover offer for the shares (ISIN: DE0005936124) of OHB SE (“OHB”) at the end of the acceptance period.

At the expiry of the period at midnight (CEST) on 17 October 2023, the takeover offer had been accepted by shareholders representing 2,531,393 OHB shares. Including the shares purchased by KKR on market, this corresponds to approximately 15.4 percent of all OHB shares and approximately 55.6 percent of all OHB shares not held by the Fuchs family or OHB as treasury shares.

OHB shareholders continue to have the opportunity to accept the offer within the additional acceptance period, which will start on 21 October and expire at midnight (CET) on 3 November 2023.

The voluntary public takeover offer remains subject to the completion of the regulatory conditions outlined in sections 12.1.2 (i) to (x) and 12.1.3 of the offer document.

The offer document and additional information are available at www.orchid-offer.com.

            ###

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 OHB SE

OHB is a German space and technology group and one of the leading independent forces in the European space industry. With many years of experience in the realisation of demanding projects, OHB is excellently positioned in international competition and offers its customers a broad portfolio of innovative products in the three divisions: Space systems, Aerospace and Digital. The company employs around 3,000 people and generates a total turnover of around EUR 1 billion.


KKR media contact

Thea Bichmann
Mobile: +49 (0) 172 13 99 761

Email: thea.bichmann@fgsglobal.com

Fabian Prietzel
Mobile: +49 (0) 171 86 01 411
Email: fabian.prietzel@fgsglobal.com

OHB SE media contact

Knut Engelmann
Mobil: + 49 (0) 174 2342808
E-Mail: knut.engelmann@kekstcnc.com

Torben Gosau
Mobil: +49 (0) 160 96943517
E-Mail: torben.gosau@kekstcnc.com

Disclaimer and forward-looking statements

This press release is neither an offer to purchase nor a solicitation of an offer to sell OHB shares. The final terms of the takeover offer, as well as other provisions relating to the takeover offer are set out solely in the offer document authorised for publication by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht). Investors and holders of OHB shares are strongly advised to read the offer document and all other documents relating to the takeover offer, as they contain important information. The offer document for the takeover offer (in German and a non-binding English translation) with the detailed terms and conditions and other information on the takeover offer is published amongst other information on the internet at www.orchid-offer.com.

The takeover offer will be implemented exclusively on the basis of the applicable provisions of German law, in particular the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG), and certain securities law provisions of the United States of America relating to cross-border takeover offers. The takeover offer will not be conducted in accordance with the legal requirements of jurisdictions other than the Federal Republic of Germany or the United States of America (as applicable). Accordingly, no notices, filings, approvals or authorizations for the takeover offer have been filed, caused to be filed or granted outside the Federal Republic of Germany or the United States of America (as applicable). Investors and holders of OHB shares cannot rely on being protected by the investor protection laws of any jurisdiction other than the Federal Republic of Germany or the United States of America (as applicable). Subject to the exceptions described in the offer document and, where applicable, any exemptions to be granted by the respective regulatory authorities, no takeover offer will be made, directly or indirectly, in those jurisdictions in which this would constitute a violation of applicable law. This announcement may not be released or otherwise distributed in whole or in part, in any jurisdiction in which the takeover offer would be prohibited by applicable law.

The Bidder reserves the right, to the extent permitted by law, to directly or indirectly acquire additional OHB shares outside the takeover offer on or off the stock exchange, provided that such acquisitions or arrangements to acquire are not made in the United States, will comply with the applicable German statutory provisions, in particular the WpÜG, and the offer price is increased in accordance with the WpÜG, to match any consideration paid outside of the takeover offer if higher than the offer price. If such acquisitions take place, information on such acquisitions, including the number of OHB shares acquired or to be acquired and the consideration paid or agreed, will be published without undue delay if and to the extent required under the laws of the Federal Republic of Germany, the United States or any other relevant jurisdiction. The takeover offer relates to shares in a German company admitted to trading on the Frankfurt Stock Exchange and is subject to the disclosure requirements, rules and practices applicable to companies listed in the Federal Republic of Germany, which differ from those of the United States and other jurisdictions in certain material respects. The financial information relating to the Bidder and OHB included elsewhere, including in the offer document, are prepared in accordance with provisions applicable in the Federal Republic of Germany and are not prepared in accordance with generally accepted accounting principles in the United States; therefore, it may not be comparable to financial information relating to United States companies or companies from other jurisdictions outside the Federal Republic of Germany. The takeover offer will be made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, and otherwise in accordance with the requirements of the laws of the Federal Republic of Germany. Shareholders from the United States should note that OHB is not listed on a United States securities exchange, is not subject to the periodic requirements of the Exchange Act and is not required to, and does not, file any reports with the United States Securities and Exchange Commission.

Any contract entered into with the Bidder as a result of the acceptance of the takeover offer will be governed exclusively by and construed in accordance with the laws of the Federal Republic of Germany. It may be difficult for shareholders from the United States (or from elsewhere outside of Germany) to enforce certain rights and claims arising in connection with the takeover offer under United States federal securities laws (or other laws they are acquainted with) since the Bidder and OHB are located outside the United States (or the jurisdiction where the shareholder resides), and their respective officers and directors reside outside the United States (or the jurisdiction where the shareholder resides). It may not be possible to sue a non-United States company or its officers or directors in a non-United States court for violations of United States securities laws. It also may not be possible to compel a non-United States company or its subsidiaries to submit themselves to a United States court’s judgment.

To the extent that this document contains forward-looking statements, they are not statements of fact and are identified by the words “intend”, “will” and similar expressions. These statements express the intentions, beliefs or current expectations and assumptions of the Bidder and the persons acting in concert with it. Such forward- looking statements are based on current plans, estimates and projections made by the Bidder and the persons acting in concert with it to the best of their knowledge, but are not guarantees of future accuracy (this applies in particular to circumstances beyond the control of the Bidder or the persons acting in concert with it). Forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and are usually beyond the Bidder’s control or the control of the persons acting in concert with it. It should be taken into account that actual results or consequences in the future may differ materially from those indicated or contained in the forward-looking statements. It cannot be ruled out that the Bidder and the persons acting in concert with it will in future change their intentions and estimates stated in documents or notifications or in the offer document.

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Renta acquires Ohiko

IK Partners

 

Renta Group Oy (“Renta Group” or “Renta”) is expanding its specialised pumping business through the acquisition of Ohiko Oy (“Ohiko” or “the Company”). Ohiko is a specialised pumping company providing full-service bypass solutions throughout Finland. Headquartered in Tuusula, Ohiko has 7 employees and annual revenues of more than EUR 2 million.

The acquisition of Ohiko extends Renta’s specialised pumping business from the Baltics and Poland to Finland, in line with the expansion strategy set in connection to the acquisition of Uprent in 2022. Ohiko provides a solid platform to further develop and grow in the highly attractive niche rental segment in Finland.

Ohiko is an excellent fit with Renta as it is a professionally managed and highly profitable company with capabilities to deliver turnkey projects. Similar to Renta, the Company has a lean structure and it will continue operating and providing services with the same well-functioning local business model as before. Renta sees significant potential in Ohiko by further scaling the operations leveraging the complementary expertise of Ohiko and Renta’s pumping business and by expanding specialised pumping geographically across Finland, benefitting from Renta’s existing presence.

Kari Aulasmaa, CEO of Renta Group, said:

“We are excited to join forces with Ohiko, a profitable and rapidly growing company with a strong standing in the Finnish specialised pumping market. Through the acquisition, Renta takes a leap in the strategic expansion of the specialised pumping business. We are impressed by the expertise and full-service project management capabilities of Ohiko and are convinced it will provide us with an excellent platform for continued growth in Finland.  We would like to extend a warm welcome to the Ohiko team.“

Petri Id, CEO of Ohiko, said:

“We have great previous experience from working with Renta’s specialised pumping providers in the Baltics and we are thrilled to become a part of Renta Group, which has ambitious plans for the future. Joining forces with Renta ensures the continuation of our high-quality services and enables us to take on larger projects and embark on new challenges. We look forward to partnering up with Renta.”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 137 depots and over 1,500 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a supplier of scaffolding and weather-protection services. For more information, please visit www.renta.com

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About Ohiko

Ohiko is a leading specialised pumping company providing full-service bypass solutions, founded in 2021. The Company has one depot in Tuusula, 7 employees and annual revenues of more than EUR 2 million. For more information, visit https://www.ohiko.fi/

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ARVOO accelerates growth with Capital A as an investor

Capital-A

ARVOO Imaging Products (hereafter ARVOO) has brought in Capital A as its new majority shareholder and sponsor for the company’s next growth phase. This new partnership establishes a solid financial foundation with the aim of further expanding as a global player in image processing technology. In this phase, the current management, consisting of Fons Grijpink (CEO) and founder René Voorwinden (CTO), who are also shareholders, will continue to lead the daily operations.

ARVOO is a developer in the field of complex digital image processing through the use of artificial intelligence and develops both the hardware and software in-house. This image processing technology is used for various applications, including ARVOO’s developed camera system, ScanGenius. ScanGenius is a leading and globally used camera system with accompanying software, used by local municipalities and government authorities for digital parking enforcement. With ScanGenius, ARVOO is the undisputed market leader in this industry in the Netherlands.

Furthermore, ARVOO develops ANPR cameras and associated software that can be used for various applications, such as access control, detecting illegal and dangerous traffic situations, enforcement at the boundaries of low emission zones, as well as within the agricultural sector.

“In recent years, we have worked hard to transform ARVOO from an innovative project organization into a focused product organization,” says Fons Grijpink, CEO and co-shareholder of ARVOO. “Today, we are proud to announce that, along with investor Capital A, we will continue to build the future of ARVOO. Our new partner will support us in the process of further globalization and expanding our business, a path we have already embarked on in recent years. This step makes us more agile and grants us access to a strong network of professionals who assist companies in building and growing.”

“It’s wonderful to see the international demand for ARVOO’s innovative products and services that deliver significant value in various sectors. Together, we look forward to further expanding ARVOO’s success into new cities and countries, while also exploring the applicability of the underlying image processing technology in new sectors. We aim to accelerate autonomous growth where it makes sense with a selective buy-and-build strategy,” says Lars Valkenburg, Investment Manager at Capital A.

The daily management of ARVOO remains with Fons Grijpink (CEO) and René Voorwinden (CTO), while Capital A will play an advisory and supportive role. ARVOO is built on a strong and unique DNA that will be maximized to realize its (international) growth ambitions. With the arrival of Capital A, the continuity and stability of ARVOO are ensured.

ABN AMRO has assisted the shareholders of ARVOO as a financial advisor in the search for a suitable partner.

 

About ARVOO

ARVOO was founded in 1993 as an engineering firm specializing in automatic image and signal processing by computers. Over time, the company has further evolved, including the integration of artificial intelligence. This thirty years of experience and passion for image processing technology make ARVOO a unique company within the industry. ARVOO has a team of innovative hardware and software developers who continuously collaborate on new applications and products. Market demand guides their development efforts, ensuring that the team aligns with the needs of the market. Since ARVOO develops both the hardware and software in-house, the lines of communication are short, enabling rapid response to customer preferences and requirements.

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Protix joins forces with Tyson Foods securing new funding for the next step in its growth phase

Rabo Investments

Tyson Foods invests in Rabo Investments portfolio company Protix in new capital round to significantly scale its production capacity and expand globally. Oct. 17, 2023 – We are proud to announce that our portfolio company Protix, a leading Dutch company in insect-based ingredients, has entered into a strategic partnership with Tyson Foods, one of the world’s leading food companies.

An important milestone for Protix and the insect industry! With this capital round we welcome Tyson Foods, a listed multinational, protein-focused food processing company based in the US and customer of Rabobank, as new investor to the group of existing shareholders. We are excited about this partnership, which also includes the formation of a joint venture to build an insect ingredients plant in the United States. In addition, Tyson Foods is investing in Protix to help accelerate their global expansion plans. This major capital injection underlines the progress and continued long term potential of Protix and will be used to further strengthen and optimise the organisation, make the necessary steps to advance commercial traction and accelerate (international) growth. Protix is a producer of insect protein and fats from the Black Soldier Fly. These insect ingredients offer nutritious and sustainable inputs for pet food, aqua culture and livestock feed and organic fertilizer. Insect ingredients are so green because of their circular nature: Insects are fed with local food waste streams and the mature insects are in turn upscaled into high value ingredients. The substrate in which the insects are farmed is subsequently used as fertiliser, thus completing a circular and sustainable way of food and feed production.

This partnership offers an opportunity for Tyson Foods to deploy its waste streams in a commercial way and acquire broader expertise in the alternative protein market. For Protix it is the outstanding opportunity to further build scale in partnership with a major player that has the necessary funding and access to the US market and their customer base. Protix has been a long time banking relationship of Rabobank, as we have supported the company from its earliest beginnings back in 2009.

Rabo Investments became shareholder of the company in 2019, on the back of its growth potential and the clear links with two of our core investment pillars: Food & Agri and Sustainability. As a committed shareholder, Rabo Investments is also participating in the capital raise and will remain actively involved to help the company meet the short-term challenges and opportunities associated with an ambitious growth agenda.

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OSI Group and Egeria have reached agreement for the sale of IQI to OSI Group

Egeria

OSI Group (“OSI”), the premium global supplier of custom value-added food products to
the world’s leading foodservice and retail food brands, and Egeria Private Equity (“Egeria”),
a leading investment company in the Netherlands and the DACH region, are pleased to
announce the agreement for the sale of IQI (International Quality Ingredients), a
Netherlands-based, global provider of premium petfood ingredients, to OSI.

IQI will provide OSI with broader and integrated capabilities in the global petfood market
whilst benefitting from the opportunity to leverage OSI’s extensive supply chain network to
reach new geographies, develop additional supplier relationships and create unique,
innovative, premium animal protein and vegetable ingredients for petfood.

Mark Oostendorp, CEO of IQI, along with the IQI management team, look forward to
partnering with OSI leadership, stating, “This acquisition will greatly benefit our supply
partners and customers. OSI’s drive to provide any solution needed for their customers is
exactly how IQI has been developing solutions for our suppliers and customers in the
petfood space. The enormous OSI network and capabilities gives IQI the opportunity to
become a global leader of animal products and vegetables. This is like a playground for our
team, and we are excited to co-create new solutions for our suppliers and customers.”
“This partnership more closely connects OSI’s extensive industry relationships and animal
protein and vegetable capabilities directly to IQI’s customers.” said Mark Richardson, Senior
Executive Vice President, OSI International. “OSI welcomes IQI to the global OSI family
and looks forward to partnering with IQI to create new and innovative ingredients that
deliver unique solutions for their customers.”

Simone Poelen, Investment Manager at Egeria stated, “We would like to thank Mark,
Lennard and the entire IQI organization for the enjoyable and entrepreneurial partnership
over the past six years. Working together with our co-shareholders, founder Sven
Gravendeel and SAPI S.p.a, was a great experience. We are proud that we have been able
to support IQI in its transformation from a specialized trading company to becoming a
critical link in the petfood value chain and a frontrunner in sustainable ingredients and
animal welfare. With this solid foundation in place, we are confident that IQI will develop
further by leveraging the global scale, customer relations, manufacturing assets and
suppliers of OSI.”

About IQI
IQI, headquartered in Amersfoort, Netherlands, was founded in 1994 as a trading company
specializing in the supply of proteins to the petfood and livestock feed industries. Today,
IQI is a global industry partner that specializes in petfood claim and functional ingredients
across 10 different categories including animal protein, high omega 3 fish oil, vegetable,
and novel ingredient categories such as algae and fermented soy. The company offers
dedicated solutions for the entire process from sourcing ingredients to co-development of
sustainable concepts, technical service support, quality checks and improvement,
warehousing, logistics, and distribution to 60 countries around the world.

About OSI
OSI Group, LLC is a 100-plus year old, privately held company that is a global leader in
supplying value-added beef, poultry, pork, vegetable, and other food products to leading
global brands. The company currently has 65 facilities/offices in 17 countries covering 5
continents, with its global headquarters located in Aurora, Illinois, a suburb of Chicago.

About Egeria
Egeria is a leading investment company in the Netherlands and the DACH region, employing
over 75 people directly in five locations, with annual sales of around €2.5bn, providing
employment for almost 12,500 people and building on and investing in great places to live
and work through our investments together with management teams.

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KKR And Etche Complete The Acquisition Of Over 160,000 Square Meters Of Logistic Properties In France From Ivanhoé Cambridge

KKR

Transaction is KKR’s first in France via its Core+ real estate strategy, and fourth for the strategy in Europe this year following UK, Finland and Sweden acquisitions

 

Paris October 19th, 2023 – KKR and Etche, KKR’s logistics real estate platform in France, today announced the acquisition of the SCOTT logistics portfolio from Ivanhoé Cambridge, comprising five buildings with a total area exceeding 160,000 square meters. These assets, two of which have just been completed, are strategically located in prime logistics zones in the ‘Dorsale’ on the outskirts of Lyon, Grenoble, Orléans, Compiègne and Strasbourg. The buildings are fully occupied by quality anchor tenants on long-term leases.

The acquisition continues Etche’s strategic focus on the logistics sector and is KKR’s first transaction in France through its European Core+ real estate strategy, which focuses on investing in high quality, substantially stabilised assets with medium-term value growth potential.

“The acquisition of this portfolio is a clear demonstration of our ability to swiftly execute significant deals in a challenging market environment, thanks in large part to the reinforcement of our teams with Joffrey Houdoux (Investment Manager) and Julien Chevrier (Chief Administrative and Financial Officer) who joined the firm this year. This strategic portfolio combines strong fundamentals and significant potential for value appreciation, which will allow us to navigate the current period with confidence. It serves as an excellent foundation upon which we can soon aggregate new buildings of similar quality,” said Vincent Lauret, President of Etche.

 

“This first acquisition through our Core+ strategy in France reflects our desire to acquire a quality portfolio for the long term, particularly in the logistics sector. We expect that the sector fundamentals will continue to be very positive for the years to come, particularly given the lack of future supply in France, which should continue to benefit owners of existing, quality assets,” commented Mai-Lan de Marcilly, Managing Director and Head of Transactions France & Hotels at KKR.

 

“This transaction is exemplary of our broader ambition in France and regionally – to invest in high-quality assets in prime locations and with strong fundamentals, and where we have the potential to drive value. The collaboration with Etche in France has created a strong basis for our team to invest behind the themes that we like, particularly logistics which is benefiting from the rise in e-commerce penetration rates and on-shoring of supply chains. We’re delighted to have expanded the portfolio into France and look forward to building further on this,” continued Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR.

 

“We are delighted to have successfully and seamlessly concluded the sale of these five assets from our Hub&Flow logistics platform to KKR-Etche. This transaction is the result of our asset management efforts and enables us to recycle our capital in the logistics market. We remain convinced of the logistics sector’s resilience, and this sector will continue to be a strategic priority for us over the long term through the growth of the Hub&Flow platform in Europe along main logistics corridors,” added Maud Wargny, Senior Director, Investments, Europe, at Ivanhoé Cambridge.

KKR is an active investor in logistics real estate across Europe and has a strong track record of investing across real estate sectors in France. The Etche platform currently owns and operates a portfolio of over fifty logistics and light industrial properties across the country. This latest acquisition builds on the regional expansion of KKR’s Core+ strategy since launching in 2022, following acquisitions in Sweden, Finland and the UK earlier this year across logistics, residential and student housing, and in logistics in the Netherlands last year.

CA-CIB provided funding for the operation through a structured financing arrangement in the form of a green loan.

About Etche

Founded in 2010, Etche is a privately-owned French real estate company. A portfolio company of global investment firm KKR, Etche also carries out asset management assignments on behalf of real estate investors. With a portfolio of around fifty assets across France in the corporate real estate sector (business parks, industrial, and logistics properties), Etche is currently undergoing a strategic shift to prioritise logistics-oriented real estate through divestitures or the acquisition of existing or planned properties. With a strong ESG (Environmental, Social, and Governance) strategy, the company has launched an ambitious decarbonization plan for its portfolio, encouraging its suppliers and employees to identify innovative and more environmentally friendly solutions.

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 and on X @KKR_Co.

 

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information:  ivanhoecambridge.com.

MEDIA CONTACTS

ETCHE

Treize Cent Treize

Aurélie Caron / Lou Girault-Solal / Alain N’Dong – +33 1 53 17 97 13 – Presse_Etche@1313.fr

KKR

FGS Global

Alastair Elwen / Sophia Johnston – KKR-Lon@FGSGlobal.com – Tel: +44 (0) 20 7251 3801

IVANHOE CAMBRIDGE

Galivel & Associés

Carol Galivel / Sébastien Matar – + 33 1 41 05 02 02 – galivel@galivel.com

   Thomas Carlat – Ivanhoé Cambridge – +33 6 73 46 00 97 – thomas.carlat@ivanhoecambridge.com

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Ardian innovates with pioneering semiconductor investment platform

Ardian

Pioneering private equity investment platform dedicated to the semiconductor industry that will invest across the value chain focusing on Europe, with a unique approach combining Ardian’s expertise and world-class semiconductor leaders.

Ardian, a world-leading private investment house, today announces that it is expanding into semiconductor investment with the launch of Ardian Semiconductor. This innovative platform will invest across the semiconductor value chain with a focus on Europe and will enable companies to grow into global leaders in their markets.

Semiconductor devices are pervasive in the world economy and are the critical enablers of the digital transformation and green transition of key sectors, such as data infrastructure, mobility, industrial and consumer. Following several decades of consistent mid to high single digit growth, industry analysts believe the semiconductor industry will continue to grow and reach $1 trillion by 2030, driven by predictable megatrends such as artificial intelligence, cloud computing, electrification and automation of mobility and industry, or smart & connected devices.

Europe is one of the most attractive regions to invest in the coming decade. European companies in the value chain are global leaders in semiconductors for the mobility and industrial end-markets that are experiencing rapid technological transformation and expected to grow the fastest. Europe also leads through its innovation ecosystems, IP, specialized equipment and materials companies, that underpin major megatrends such as the artificial intelligence revolution. Europe leverages strong foundations and attractive government incentives, including the €43 billion European Chips Act, to strengthen its leadership and benefit from an increased regionalization of the global supply chain.

Ardian Semiconductor aims at becoming the partner of choice of the European semiconductor value chain, bringing innovative and flexible capital solutions, as well as strategic and operational expertise, to companies with the potential to enable megatrends leveraging their distinctive technologies.

Ardian is launching the Ardian Semiconductor platform through an exclusive strategic partnership with Silian Partners, a team of highly successful senior executives from the semiconductor industry with more than 115 years of combined experience in the space, bringing unique industry relationships, strategic vision, and operational focus. Ardian and Silian Partners will work as One Team, and will bring together Ardian’s proven and successful private equity capabilities and investment processes with unparalleled industry leadership and expertise.

Ardian Semiconductor is managed by Ardian France. Silian Partners assists Ardian as an industry expert.

Ardian Semiconductor will be powered by a detailed analysis of technology megatrends and their implications across the semiconductor value chain. The team will work together to identify attractive opportunities, carry out expert due diligence, and work closely with entrepreneurs and management teams to define strategic roadmaps and execute.

This expansion builds on Ardian’s track record of investing in attractive high-growth sectors, in addition to its flagship investment activities.

“Semiconductors are everywhere and enable the world’s digital transformation and green transition. As demand for semiconductors is expected to more than double over the next decade, a whole supply chain needs to scale and bring continued innovation, including countless European mid-sized companies. We’re assembling a unique team with tremendous experience and track-record, and I can’t enjoy more than welcoming Paul, Christophe, Helmut and Thomas. It’s therefore the perfect time to launch Ardian Semiconductor, leveraging Europe’s leading positions in critical segments of the semiconductor value chain. Building on Ardian’s proven track record as a global private investment leader, the platform will bring innovative capital solutions to this strategic value chain at a pivotal moment, working alongside world-class industry leaders.” Thibault Basquin, Member of the Executive Committee, Ardian

“We are delighted to partner with Ardian, who perfectly understand the unique opportunity to address a critical need of the European semiconductor value chain and become its financial sponsor of choice. Through a bespoke strategic partnership, we bring together in One Team seasoned private equity investors, proven investment processes, and successful semiconductor leaders. Ardian is the ideal firm with the right people and culture to build this first-of-its-kind investment platform together. As we initiate dialogues with companies and entrepreneurs, we have confirmation that we enable solutions for the industry that do not exist today and that our approach will create significant value across the board.” Paul Boudre, Senior Managing Director & Co-Founder of Silian Partners

Silian Partners is led by:

  • Paul Boudre, Senior Managing Director & Co-Founder, who brings c.35 years of semiconductor experience. As Chief Executive Officer of Soitec from 2015 to 2022, he successfully led the company through a restructuring and positioned it as a global leader of engineered semiconductor materials. Prior to Soitec, he held senior positions in semiconductor equipment and manufacturing with KLA, STMicroelectronics, IBM Microelectronics, Motorola Semiconductor and Atmel.
  • Christophe Duverne, Senior Managing Director & Co-Founder, who has been a semiconductor and electronics executive for the past c.30 years. He was President and Chief Executive Officer of Linxens from 2010 to 2020, which he founded from a corporate carve-out, and led through two successful buyout transactions sponsored by CVC, Astorg and Bain Capital, to create a global leader in smart card components manufacturing. Prior to founding Linxens, he worked for over 10 years at NXP Semiconductors where he was Senior Vice President of the Identification business unit.
  • Dr Helmut Gassel, Senior Managing Director & Co-Founder, who contributes c.30 years of semiconductor industry experience. He served as a member of Infineon’s Management Board as Chief Marketing Officer from 2016 to 2022 with responsibilities encompassing marketing, sales, strategy and M&A. In this capacity, he led the €9bn acquisition and integration of Cypress Semiconductor and contributed to transform Infineon into a global top 10 semiconductor company. Prior to joining Infineon in 1995 as a semiconductor design engineer, he worked in semiconductor research at Fraunhofer Institute
  • Thomas Pebay-Peyroula, Managing Director & Co-Founder, who brings c.15 years of investment banking experience and has advised many European semiconductor companies on strategic, M&A and financing matters. He is joining from Rothschild & Co, and started his career with Lazard.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 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 16 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

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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