Category Archives: News

L Catterton Announces Completion of Continuation Fund to Extend its Partnership with PatientPoint Health Technologies

LCatterton
GREENWICH, Conn., July 28, 2023 /PRNewswire/ — L Catterton, a leading global consumer-focused investment firm, today announced the successful closing of a continuation fund transaction for its portfolio company PatientPoint Health Technologies™ (“PatientPoint”), a leading tech-enabled point-of-care patient engagement company. The transaction reaffirms L Catterton’s long-term commitment and maintains its ownership in the business, allows L Catterton to return capital to investors, and provides PatientPoint with additional capital to support growth initiatives. Terms of the transaction were not disclosed.

PatientPoint has become a trusted patient engagement company, and following its successful transformational combination with Outcome Health in 2021, is now an industry-leading platform serving approximately 140,000 healthcare practitioners (“HCPs”) and impacting over 750 million patient visits annually, nationwide. The Company improves doctor-patient engagement by educating patients through the nation’s largest interconnected network of digital devices in healthcare practices. With innovative solutions and unparalleled reach, PatientPoint has consistently delivered strong financial and operational excellence and is well-positioned for long-term growth.

“Over the course of our investment, PatientPoint has transformed into a leading digital patient engagement platform improving health outcomes for patients, and we believe the business continues to have opportunities to accelerate its growth,” said Andrew Taub, a Managing Partner in L Catterton’s Flagship Fund. “We are excited to continue our partnership through a transaction that not only provides new capital to PatientPoint to support product expansion, but also presents an attractive liquidity option to L Catterton’s existing investors. We look forward to continuing to work with PatientPoint’s talented team to strengthen the company’s value proposition during its next phase of growth.”

“We are thrilled to extend our successful partnership with L Catterton in a transaction that validates the significant momentum we’ve generated,” said Mike Collette, Founder and CEO of PatientPoint. “This additional investment will allow us to capitalize on meaningful near-term growth initiatives, while upholding our commitment to providing trusted, reliable solutions that improve doctor-patient engagement across the entire care journey. We thank L Catterton for their continued support and are confident that together, we will continue to drive long-term, sustainable growth.”

L Catterton will maintain its position in PatientPoint through the new dedicated continuation vehicle, which includes investments from funds advised by Neuberger Berman, lead investor, and funds advised by affiliates of Fortress Investment Group LLC, co-lead investor. Littlejohn & Co., who became a partner to L Catterton following PatientPoint’s merger with Outcome Health in 2021, will retain its ownership.

Peter Bock, Managing Director at Neuberger Berman said, “We have been impressed both by L Catterton’s consumer expertise and PatientPoint’s opportunity to leverage their expansive HCP network to offer a full set of digital solutions across the patient care journey. This transaction provides the Company with the time they need to execute their value creation strategy and offers a compelling liquidity opportunity to existing investors.”

Greg Getschow, Managing Director at Fortress added, “On behalf of our investors, we are pleased to establish this partnership with L Catterton, which provides PatientPoint with the additional capital that they need capitalize on significant growth initiatives that are ahead for the business.”

Evercore served as financial advisor to L Catterton on the transaction. Kirkland & Ellis served as legal counsel.

About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

About PatientPoint
PatientPoint® is a tech-enabled point-of-care patient engagement platform. Our innovative, tech-enabled solutions create more effective doctor-patient interactions and deliver high value for patients, providers and healthcare sponsors. Through our nearly 140k unique healthcare provider relationships, PatientPoint’s solutions impact roughly 750 million patient visits each year, further advancing our mission of making every doctor-patient engagement better®. Learn more at patientpoint.com.

Media Contacts
L Catterton
Julie Hamilton
Managing Director, Firm Communications
media@lcatterton.com
203.742.5185

PatientPoint
PatientPoint Corporate Communications
news@patientpoint.com

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IK Partners to sell Klingel Medical Group to Elos Medtech

IK Partners

Press Release
Friday, 28 July 2023

IK Partners (“IK”) is pleased to announce that the IK VIII Fund (“IK VIII”) has reached an agreement to sell its stake in KLINGEL Holding GmbH (“Klingel Medical Group”, “Klingel” or “the Group”), a leading full-service provider for complex high-end components and custom products for medical technology, to Elos Medtech AB (“Elos Medtech”) (STO: ELOS-B).

Founded in 1986 and headquartered in Pforzheim, Germany, Klingel has grown to become a market-leading contract development and manufacturing organisation (“CDMO”) with a strong focus on medical technology (“MedTech”) customers across Orthopaedics, Spine, Trauma, Surgical Robotics, Endoscopy and Dental. The Group’s offering spans the entire value chain from development services to production and sterile packaging, with eight production facilities in Southern Germany and Switzerland.

With IK’s support, the business has transformed from a local contract manufacturer in the DACH market into a truly international MedTech CDMO with a strong customer base of global MedTech original equipment manufacturers. During this period, sales have more than trebled, driven by an expansion of production technologies and the successful bolt-on acquisitions of GEHRING CUT, Bächler Feintech, puracon and Ruetschi. Collectively, the Group has approximately 900 employees.

In addition to its full value chain coverage, Klingel relies on deep technological expertise as well as development, production and regulatory know-how to drive outperformance versus its peers. The Group also has a very experienced management team which has more than 80 years of combined experience at C-suite level.

Ralf Petrawitz and Christoph Ruetschi, Co-CEOs at Klingel Medical Group, commented: “We would like to thank the team at IK for their unwavering support over the past five years; a period which has seen us demonstrate exceptional growth and expand our DACH footprint in MedTech. We are proud of all that we have achieved and look forward to continuing this growth trajectory with our new partner Elos Medtech.”

Anders Petersson, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since our acquisition of the business in 2018, together with management, we have successfully executed our growth strategy, helping Klingel to significantly expand its customer base to become an international MedTech company. One of the reasons we invested in Klingel, was the fragmented nature of this market and its consolidation potential. With our support, the Group has been able to make several exciting bolt-on acquisitions and become a consolidator in the market, which has enabled Klingel to become a leading CDMO in the MedTech sector. It has been a true pleasure working together with the team at the Group. The combination with Elos MedTech makes a lot of strategic sense and we believe that the cultural fit is strong.”

Stefano Alfonsi, CEO and President at Elos Medtech, added: “We firmly believe that this acquisition strengthens our position in the CDMO landscape. It marks a significant step forward in our commitment to offering an extensive array of services to our customers through the hard work of a talented combined workforce. The acquisition will reinforce our well-established reputation for excellence and our ability to cultivate enduring partnerships, aligning seamlessly with Klingel’s similar ethos. We look forward to working with Ralf, Christoph and their team.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About Klingel Medical Group

Klingel Medical Group is one of the leading manufacturers of metal products for medical technology. As a specialist for the precision processing of high-strength materials, we have been growing continuously and maintaining long and very close relations with our customers. Klingel employs roughly 900 employees across its headquarters in Pforzheim and partner companies Josef Ganter Feinmechanik in Dauchingen, puracon in Rosenheim, Bächler Feintech in Hölstein and Matzingen as well as Ruetschi in Renquishausen (Southern Germany), Muntelier and Yverdon-les-Bains (both in Switzerland). For more information, visit https://www.klingel-group.com/

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit https://ikpartners.com

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About Elos Medtech

Elos Medtech is a leading development and production partner for medical devices and components, with a focus on dental and orthopedic implants and instruments. The company operates from facilities in Sweden, Denmark, China, and the U.S. The customer base comprises international medical technology companies.
Elos Medtech has more than 650 employees and a turnover of approximately SEK 950 million. Elos Medtech has been listed on NASDAQ Stockholm AB since 1989. Elos Medtech’s B share is categorized as a Health Care company on the Mid Cap list. For more information, visit https://elosmedtech.se/

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Eurazeo signs agreement with Blackstone to provide financing equity for Groupe Premium

Eurazeo

Eurazeo, the management team led by Olivier Farouz and Montefiore Investment today announced that they have entered into a strategic financing agreement where funds managed by Blackstone (“Blackstone”) have agreed to provide Groupe Premium with €400m of financing equity. As part of the transaction, Blackstone will also acquire a limited minority stake in the business. Blackstone’s investment will provide Groupe Premium with further flexibility to grow the business. On the financing side, Barings renews its support to the Group with a new debt package of €300m.

The completion of the transaction would value the company at €1.15bn.
Eurazeo and its affiliates would realize a 3.3x cash-on-cash multiple at the completion date, including c.€185m of cash proceeds (of which c.€65m for Eurazeo balance sheet), the remainder of c.€135m being reinvested in the operation.

The transaction remains subject to the approval of the Group’s supervisory authorities.
Eurazeo would retain control of the company, reaffirming its trust in the Group for years to come.

Founded in 2000, Groupe Premium is a leading player in wealth management in France, through its three activities of brokerage in life insurance and retirement savings products through the Predictis and Cap Finances networks, asset management through its subsidiary Flornoy-Ferri and wealth management consulting. The Group manages €8.5bn assets and achieved in 2022 a turnover of €188m, growing of + 80% vs 2021 and aims for a level of activity of €263m in 2023.

In 2018, Montefiore invested in Groupe Premium and supported the acceleration of the company’s development before handing over control to Eurazeo in July 2021. Since Eurazeo’s entry into the capital, Eurazeo has supported the group by providing it with the human and financial resources necessary for its structuration and its development, in particular through the geographical expansion of its network of independent agents in France which counts 1100 partners, and by the creation of the Group’s wealth management consulting division, which today represents €3bn in assets under management and is the result of 8 acquisitions made over the past two years. Over these last five years, sales have been multiplied by ten.

Driven by the renewed confidence of its historical shareholders, the group intends to continue its strong organic growth by continuing to strengthen its product range and digitalization, while accelerating its active external growth policy, both France and internationally.

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CapMan to publish its 1–6 2023 Half-Year Report on Thursday 3 August 2023

Capman

CapMan Plc press release
27 July 2023 at 10:30 a.m. EEST

CapMan to publish its 1–6 2023 Half-Year Report on Thursday 3 August 2023

CapMan will publish its half-year report for the period 1 January–30 June 2023 on Thursday 3 August 2023 around 8.00 a.m. EEST. The company will present the results for the review period over a webcast press conference starting at 9.30 a.m. EEST accessible at https://capman.videosync.fi/2023-q2-results. The conference will be held in English. The report and presentation material will be available at CapMan’s website after the publication (https://www.capman.com/shareholders/financial-reports/).

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

Webcast:
3 August 2023 at 9.30 a.m. EEST
https://capman.videosync.fi/2023-q2-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. 

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BPEA EQT to acquire a majority stake in Indira IVF – India’s largest chain of fertility clinics

eqt
  • BPEA EQT to acquire a majority stake in Indira IVF, the largest provider of fertility services in India and top five globally in terms of annual IVF cycles, having facilitated 125,000 successful pregnancies to date
  • India is one of the fastest growing markets globally for Assisted Reproductive Technology  services due to its large addressable population, rising education levels and marriage age, declining fertility rates, and low market penetration
  • BPEA EQT will invest in Indira IVF’s R&D capabilities and technology, while further broadening its footprint across India and exploring expansion into neighboring markets, making fertility services and reproductive health more accessible to couples

EQT is pleased to announce that BPEA Private Equity Fund VIII (“BPEA EQT”) has agreed to acquire a control stake in Indira IVF (the “Company”), from TA Associates and the Company’s founders, Dr. Ajay Murdia, Dr. Kshitiz Murdia, and Dr. Nitiz Murdia, who will retain a significant minority stake and continue to lead the Company.

Indira IVF was founded by Dr. Ajay Murdia in 1988 and has since then scaled from a single clinic to a nation-wide network spanning 116 centers across 20 states in India. Today, the Company is the market leader within Assisted Reproductive Technology services in India and completes approximately 40,000 IVF cycles annually, making it the largest player in India and amongst top five players globally. To date, Indira IVF has successfully supported over 125,000 couples in their journey towards achieving pregnancy.

India is one of the fastest growing markets globally for Assisted Reproductive Technology services and significantly underpenetrated compared to more developed markets. Infertility rates in India are estimated to be around 15 percent and they are expected to rise, driven by lifestyle changes, such as poor diets, stress levels and pollution. Today, India completes around 300,000 IVF cycles annually, and over the next decade, the number of cycles done across the country is expected to grow around 15 percent at a compound annual growth rate. This trend is supported by the rising awareness about infertility treatments, growing middle class, declining fertility rates, and increasing marriage age.

Ashish Agrawal, Partner at BPEA EQT, commented, “Fertility services and reproductive health is a large and fast-growing opportunity in India and Indira IVF is a pioneer in this space. We are truly impressed by its scalable and repeatable model with best-in-class medical infrastructure and technology systems that have the ability to help realize the dreams of couples who want to become parents. We see strong potential in further expanding India IVF’s presence across India and entering adjacent markets, while continuing to invest in its R&D capabilities and technology, drawing on EQT’s in-house expertise within healthcare and digitalization.”

Dr. Kshitiz Murdia, CEO of Indira IVF, commented, “Partnership with BPEA EQT is the beginning of a new phase of sustainable growth for Indira IVF. Starting from a single clinic in Udaipur to becoming the largest provider of Assisted Reproductive Technology services in India today, Indira IVF’s journey has been a remarkable success story. The ART sector in India is at an exciting stage of development and we are lucky to have a great company, partners, and colleagues to lead the growth of this segment. BPEA EQT is one of the largest healthcare investors globally and has a deep understanding of the IVF sector. We, at Indira IVF, are on a mission to provide world class IVF services to more couples with best-in-class clinical outcomes. I am delighted to have a like-minded partner in BPEA EQT who shares our purpose and we are ready to scale the Indira IVF platform to the next level.”

Jimmy Mahtani, Partner and Co-Head of BPEA EQT India, concluded, “This investment aligns with EQT’s commitment to investing in companies that address critical societal needs and have the potential to impact people’s lives for the better. Under the stewardship of the founding Murdia family and the management team, Indira IVF has scaled to become a leader that has helped more than a hundred thousand couples achieve parenthood. We couldn’t be prouder to support such an important mission and we look forward to partnering with Indira IVF and the Murdia family on its next stage of growth.”

BPEA EQT was advised by JSA (legal), Lincoln International, Price Waterhouse & Co LLP (transaction and tax, operational DD), Deloitte (financial and tax DD, structuring, ESG), and Awelin (digital). The selling shareholders were advised by Goldman Sachs and J.P. Morgan.

With this transaction, BPEA Private Equity Fund VIII is expected to be 35-40 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
EQT Press Office, press@eqtpartners.com

About BPEA EQT
BPEA EQT is part of EQT, a purpose-driven global investment organization in active ownership strategies. BPEA EQT combines the private equity teams from Baring Private Equity Asia (BPEA) and EQT Asia, creating a comprehensive Asian private equity presence with local teams in eight cities across the region, a 25-year heritage, and more than USD 25 billion of capital deployed since inception. In addition to BPEA EQT, EQT’s strategies in the region include EQT Infrastructure and the real estate division EQT Exeter.

More info: www.eqtgroup.com/private-capital/bpea-eqt
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Indira IVF
Indira IVF is India’s largest fertility chain expert with 115+ centers across the country. We are supported by a passionate workforce of 2700+ professionals and 250+ IVF specialists. Indira IVF has helped more than 1,25,000 couples battle their infertility issues and successfully get pregnant through IVF. We are a technology-first company and have invested in several technologies such as RI witness technology, closed working chambers technology, artificial intelligence (AI), microfluidics, and more. It is by means of empathy and meticulous standardization processes that we have been able to attain industry leading success rate, making Indira IVF the most preferred fertility chain of hospitals in the country.

More info: www.indiraivf.com 
Follow Indira IVF on LinkedIn, Twitter, YouTube and Instagram

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Premier International Acquires Information Asset

Renovus

July 27, 2023 – Premier International (“Premier”), a technology consulting firm specializing in solutions that reduce the risk associated with complex data challenges, today announced the strategic acquisition of Information Asset (“the Company”), one of the nation’s top data governance and risk management firms. Premier International is a portfolio company of Renovus Capital Partners.

Founded in 2012, Information Asset primarily focuses on data risk, privacy, governance and monetization. Its solutions enable enterprises to evolve data governance from a conceptual idea to practical implementation, which helps foster more accurate, faster and overall improved decision-making for their clients. Information Asset serves a roster of well-known Fortune 1000 customers across various industries, including financial services and healthcare, among others. The Company also has deep relationships and partnerships with leading software platforms such as Informatica, Alation, BigID and Collibra.

Premier offers innovative technology and consulting services through its team of business consultants, software developers, subject matter experts, and its proprietary software tool Applaud®. The combined capabilities of Premier and Information Asset will enable customers of both organizations to access enhanced offerings, as well as streamlined efficiency from having their data needs handled by a single partner.

“The addition of Information Asset to Premier significantly expands the depth and breadth of our capabilities, enabling organizations to unlock the full potential of their data,” said Craig Wood, CEO of Premier. “Our combined expertise and software solutions in data migration, data risk management, and data governance will reshape norms by delivering comprehensive solutions that boost value while minimizing risks. We are thrilled to welcome Sanjeev and the Information Asset team to Premier.”

Sanjeev Varma, CEO of Information Asset, added, “We are very excited to combine forces with the Premier team, allowing us to provide enhanced solutions for our customers across the entire data value chain. Together, we will further the value we provide customers each day by helping them drive business growth, innovation, and competitive advantage. Our team is enthusiastic about what’s next and what’s possible as part of Premier.”

As a platform portfolio company for Renovus, Premier has been actively identifying acquisitions that will help expand its current product and service offerings. Manan Shah, a Partner at Renovus Capital Partners, noted, “We are excited about Premier’s strategic acquisition of Information Asset. Adding a trusted and experienced offshore delivery team has been a major goal for Premier, and the acquisition brings complementary, high-value capabilities by providing customers with new offerings across the data lifecycle.”

Terms of the transaction were not disclosed.

About Premier International

Premier International is a Chicago-based technology consulting firm offering solutions that reduce the risk associated with complex data challenges through innovative technology and consulting services. The company’s innovative services and Applaud® software reduce the overall risk in a technology transformation and ensure projects remain on track in even the most complex environments. Founded in 1985 and with over three decades of successful execution, Premier’s solutions have a proven track record across various industries and applications. For more information, please visit premier-international.com.

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GlossGenius secures $28M in Series C Funding from L Catterton for its business-in-a-box platform serving SMBs in the beauty and wellness industry

LCatterton

The vertical business-in-a-box platform has surpassed 60,000 customers and billions of dollars in annual transaction activity, delivering seamless salon, spa, and studio experiences to millions of end users.

NEW YORK, NY (PRWEB) JULY 27, 2023, GlossGenius, the business-in-a-box platform for small businesses in the beauty and wellness sector, today announced a $28M Series C funding. The equity round was led by the Growth Fund of L Catterton, a leading global consumer-focused investment firm, with participation from Bessemer Venture Partners and Imaginary Ventures. This is the second up-round for GlossGenius in the last 12 months, and brings the company’s total funding to approximately $70M to date.

GlossGenius helps tens of thousands of small business owners across the U.S. manage their operations, create a cohesive client experience and build successful businesses. With billions of dollars in annualized activity on the platform, GlossGenius saw its business grow by triple-digit percentages in the last year, underscoring its position as one of the fastest-growing companies in the industry.

“Large shifts in the beauty and wellness industry have provided a significant opportunity for vertical operating systems to create unprecedented value,” said Danielle Cohen-Shohet, CEO and Founder, GlossGenius. “We have been helping our business customers grow revenue by 25 – 100% and save hours of manual work every single day, driving financial success for local entrepreneurs. Our team’s demonstrated ability to consistently bring the best products to market with the most intuitive user experiences has enabled our customers to think bigger and run better businesses. This round will help us extend our leadership and continue to support these businesses.”

Small business owners use GlossGenius as their primary business infrastructure to manage end-to-end workflows across their back-office and front-office such as payments, booking, inventory, expenses, marketing and more. The additional funding will accelerate GlossGenius’ development of its platform, following its recent release of a myriad of consumer experience, payment and automation products.

“Given our deep expertise in beauty and our investments in disruptive software businesses across consumer verticals, we see a compelling opportunity to serve these businesses with better and more powerful tech,” said Ian Friedman, a Partner in L Catterton’s Growth Fund. “The overwhelming enthusiasm displayed by GlossGenius’ customers is a testament to the product’s excellence and the company’s position as the go-to platform in the industry. We are thrilled to leverage our expertise scaling consumer and technology businesses to support GlossGenius’ ambitious growth plans.”

The additional funding will fuel GlossGenius’s continued innovation and enable the company to deliver even more advanced products and services to support entrepreneurial business owners in the beauty and wellness vertical.

GlossGenius has recently been recognized on the Forbes Fintech 50, Inc.’s Best Workplaces of 2023, and the SMBTech 50. This spring, Cohen-Shohet was also named a 2023 EY Entrepreneur of the Year.

About GlossGenius
GlossGenius is the best appointment management and scheduling system for salons and spas. Our complete set of automated appointment scheduling, same business day payments, client management and built-in marketing solutions was designed to empower professionals to focus on being creators, not admins. For more information, visit https://glossgenius.com/ and follow the company on LinkedIn, Instagram, and Twitter.

About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital and three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

Media Contacts
GlossGenius
Six Eastern on behalf of GlossGenius
Sarah Dresdow
hello@sixeastern.com
415.854.5794

L Catterton
Julie Hamilton
Managing Director, Firm Communications
media@lcatterton.com
203.742.5185

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Apollo enters exclusive discussions to provide a €1.5 billion capital solution to Air France-KLM’s Flying Blue Loyalty program with commercial partners

Apollo

NEW YORK, July 27, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into exclusive discussions regarding a €1.5 billion financing for Air France-KLM’s Flying Blue Loyalty program with commercial partners.

The bespoke transaction, part of Apollo’s high-grade partnerships, would provide one of the world’s leading airlines with a custom capital solution to further strengthen its balance sheet and support its leading Loyalty program with commercial partners.

Apollo Partner Jamshid Ehsani said, “Apollo is very pleased to enter into exclusive discussions with Air France-KLM, deepening our partnership with one of the world’s leading airlines. The contemplated transaction highlights our ability to work with companies as long-term partners to provide creative, scaled capital solutions that are responsive to their unique needs.”

The transaction discussions follow two previous Apollo-arranged investments for Air France-KLM entities in the past 12 months, demonstrating Apollo’s role as a responsive and repeat financing partner to some of the world’s leading companies.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

 


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Source: Apollo Global Management, Inc.

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Portobello Capital’s portfolio company, Serveo, acquires Sacyr Facilities

Portobello

The company, owned by the investment fund Portobello Capital, acquires Sacyr’s facility management activity through the purchase of Sacyr Facilities. ▪ The transaction is valued at €87 million. ▪ Serveo consolidates its presence in the facility management sector with an estimated consolidated turnover of around €1.5 billion. July 27th, 2023. Serveo, company owned by Portobello Capital investment fund, acquires Sacyr’s facility management business through the purchase of Sacyr Facilities for €87 million. This acquisition, with completion subject to approval from the National Markets and Competition Commission (CNMC), represents Serveo´s consolidation as one of the main operators in the facility management business. With this acquisition, the company is expected to reach a turnover of around €1.5 billion. Sacyr Facilities is Sacyr Group’s division focused on the facility services activity, integrating five major business lines: cleaning, maintenance, facility management, energy services and social services. With presence in Spain and Chile, they have an annual turnover of €380 million with a team of more than 16,000 professionals.

Following the authorization of the transaction by the CNMC, the integration of both teams and portfolio of contracts will be carried out progressively over the coming months, always under the parameters of operational excellence on which Serveo bases its management, and with the aim of minimizing any impact on customers and users.

With this acquisition, Serveo continues with its growth strategy in the facility management market and consolidates its position as one of the main operators in the sector with presence in Spain, Portugal and, with this transaction, in Chile. In this sense, the incorporation of Sacyr Facilities will increase Serveo’s capabilities to continue growing with value-added services, process engineering and operational excellence.

About Serveo
In October 2021, Portobello Capital and Ferrovial announced an agreement where the Spanish fund would acquire a 75.01% stake in Serveo, with Ferrovial retaining 24.99% of the capital, proving its confidence in the consistency of the business and management team. Serveo launched its new brand in March 2022, following the entry of Portobello Capital as a shareholder.
Serveo, with more than 30 years of experience, is a leader in transversal, efficient and sustainable services that drive the growth and development of its clients and society, especially in the health, industry, transport, energy and facility management sectors. With more than 27,000 employees, it has a stable presence throughout Spain, enabling it to manage high impact and complex projects.

About Portobello Founded in 2010, Portobello Capital is a leading independent mid-market private equity firm, based in Spain and investing in Southern Europe. It has more than 2,000 million euros of Assets Under Management, an experienced team of more than forty professionals and a current portfolio of 22 companies.
Communications Department
Cristina Cabrera Angulo
Tel. +34 91 338 83 00
E-mail: comunicacion@serveo.com

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Gimv announces share buyback in the context of a share purchase plan for its personnel

GIMV

The Board of Directors of Gimv has decided, in application of Art. 7:215, §1, al. 3 of the Companies Code, to start a share buyback program of 20,000 shares in the framework of a share purchase plan for Gimv employees. Gimv will start the buyback program on 28 July 2023 until the targeted volume has been purchased with a final end date of 18 August 2023.

The buyback program will be conducted in accordance with applicable regulations. For this purpose, Gimv will mandate an independent broker to execute the program through open market purchases on Euronext Brussels. The purchased shares will be held as treasury shares until they have been transferred to the personnel.
Gimv will inform the market on the progress of the program in line with the applicable regulations. Today, Gimv holds 2,498 own shares.

ABOUT GIMV
Gimv is a European investment company, listed on Euronext Brussels. With over 40 years’ experience in private equity, Gimv currently has EUR 1.5 billion of assets under management. The portfolio contains around 60 portfolio companies, with combined turnover of EUR 3.7 billion and more than 20,000 employees.
As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial, innovative companies with high growth potential and supports them in their transformation into market leaders. Gimv’s five investment platforms are Consumer, Healthcare, Life Sciences, Smart Industries and Sustainable Cities. Each platform works with an experienced team across Gimv’s home markets of Benelux, France and DACH, supported by an extended international network of experts.
Further information on Gimv can be found on www.gimv.com.
For further information please contact:
Kristof Vande Capelle, Chief Financial Officer
T +32 3 290 22 17 – kristof.vandecapelle@gimv.com

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