Category Archives: News

Oakley Capital invests in Assured Data Protection

Oakley

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund V is investing in Assured Data Protection (‘Assured’), a Managed Services Provider (‘MSP’) focused on Backup, Disaster Recovery and Cyber Resiliency as a Service. The transaction is subject to regulatory approvals.

 

Key facts

PB data managed

120

Expected market growth (5 years)

c.5x

Recurring revenues

c. 100%

Founded in Leeds, UK and Virginia, US in 2016 by serial tech entrepreneur Simon Chappell and four co-founders, Assured uses Rubrik software and Assured’s own proprietary software platform to provide mission-critical backup and disaster recovery services for companies globally. Assured enhances its customers’ cyber resilience by protecting their data and ensuring business continuity, with near-zero server recovery time in the event of a significant IT failure or cyber-attack.

Assured operates in a high growth segment of the disaster recovery space which is expected to expand almost 5x over the next five years, as companies’ data architecture becomes more complex and as the prevalence and severity of cyber threats grows. Rubrik, the technology Assured leverages, provides a next generation software solution that is growing rapidly as it displaces legacy providers.

Cyber Image

Assured has generated consistently high double-digit growth with almost 100% recurring revenues and low customer churn thanks to growing demand for its products and services.

Oakley will support Assured’s management team to capitalise on strong growth in its underlying markets including the US, with a focus on providing the required capital and organisational structures to enable sustained organic growth. Given Assured’s significant hosting infrastructure, this is also an opportunity to leverage Oakley’s extensive hosting experience. The five co-founders including Simon Chappell will remain invested in Assured and will continue to manage the business.

This will be Oakley’s seventh new investment announced or completed in 2024, extending a period of significant activity for the Firm and continuing a strategy of partnering with exceptional founders. It also follows recent investments in software businesses including cybersecurity provider I-TRACING (Fund V), logistics and transport SaaS provider Alerce (Origin I), medical software business Horizons Optical (Origin I) and broadband open access platform vitroconnect (Origin II).

Quote Peter Dubens

This is a rare opportunity to invest behind a proven team that has built a business that will benefit from several structural tailwinds and has an attractive business model that is differentiated and scalable. Assured is an IT services business with strong organic growth and recurring revenues, genuine IP, and led by exceptional founders. We’re pleased to be partnering with Simon and his team as they leverage the significant opportunities in a fast-growing market.

Peter Dubens

Co-Founder and Managing Partner — Oakley Capital

Quote

More and more companies are having to strengthen their IT and data systems in the face of increased cyber and ransomware attacks that can cripple operations. Assured is well-placed to help mitigate these risks as the partner of choice for small and medium-sized enterprises. We were looking for a genuine partner that could help us scale our business and were impressed by Oakley’s track record of helping build €1bn+ global industry leaders and equally the firm’s entrepreneurial ethos and approach. We look forward to working with the team to further strengthen Assured’s market-leading position.

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Oakley Capital agrees combination of WindStar with Merz Lifecare

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Fund IV has agreed the strategic combination of portfolio company WindStar Medical (“WindStar”) with Merz Lifecare to create one of the leading providers of over-the-counter (“OTC”) health and wellbeing products in the DACH region. On completion, the Merz Group will hold a majority stake in the holding. The transaction is expected to be completed once all regulatory approvals have been obtained.

Oakley invested in WindStar in 2020 to scale the business through continued product innovation and organic growth. With Oakley’s support, WindStar has expanded the business by growing its Power Brands SOS and Zirkulin, by extending its private label customer base with new perfumery customers, and by addressing the “Well-Health” market segment, which focuses on high-quality OTC-products for feel-good, wellness, care, and protection.

Windstar Medical

Based in Frankfurt, Germany, Merz Lifecare is part of the Merz Group, a leading, privately-owned pharma and healthcare business. Merz Lifecare is a leading provider of health, wellbeing, and beauty products in the DACH region, with leading brands including tetesept, Merz Spezial and Brooklyn Soap Company.

Quote Peter Dubens

In Merz we have found a strong strategic partner for WindStar to continue driving its growth and development into the future. We look forward to collaborating with Merz to build a health and wellbeing leader in the DACH region.

Peter Dubens

Co-Founder and Managing Partner — Oakley Capital

Quote Hans-Jörg Bergler

With this combination, Merz is breaking new ground, as this is the first time that we, as a family-owned company, have entered into a partnership with a private equity firm. In doing so, we are strengthening our Merz Lifecare business, which has outgrown the market in recent years. We have found an ideal partner in WindStar because the two companies and their complementary product portfolios are an excellent match. We look forward to further developing the potential of Merz Lifecare in the coming years in partnership with Oakley and taking the company to the next level together.

Hans-Jörg Bergler

Managing Director — Merz Group

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RTI Surgical Announces Agreement to Acquire Collagen Solutions

Montagu
RTI Surgical Announces Agreement to Acquire Collagen Solutions

  • Further expands RTI’s soft tissue portfolio of xenograft and allograft materials at scale
  • Improves access to high-growth cardiac, sports medicine and orthopaedic clinical markets
  • Enables accelerated development of innovative biomaterials for existing and new OEM customers

RTI Surgical (“RTI” or “the Company”), a leading CDMO pushing the boundaries of innovation and tissue engineering to meet patient needs in regenerative medicine, announced today that it has entered into an agreement to acquire Collagen Solutions, a premier global supplier of engineered medical-grade collagen and xenograft tissue with applications in cardiac, sports medicine and orthopedics.

The acquisition further expands RTI’s uniquely comprehensive portfolio of allograft and xenograft biomaterials at scale, and follows the Company’s acquisition of Cook Biotech earlier in the year. RTI’s broad product portfolio enables it to partner with customers and surgeons to develop innovative solutions that are focused on improving patient outcomes.

Key highlights of the acquisition include:

  • Expansion of RTI’s soft tissue portfolio with Collagen Solutions’ expertise in bovine and porcine collagen materials
  • Increased access to high-growth therapeutic areas such as cardiac, sports medicine and orthopaedic, and plastic and reconstructive surgery
  • Potential to accelerate development of innovative biomaterials with combination products
  • Enhanced ability to partner with OEM customers in proactively meeting patient need and enhancing patient lives

Collagen Solutions is headquartered in Eden Prairie, Minneapolis, with additional strategically located sites in the UK and New Zealand.

Olivier Visa, President and Chief Executive Officer, RTI Surgical, said: “Collagen Solutions is an excellent strategic fit for RTI Surgical, bringing specialized and complementary capabilities and expertise in soft tissue engineering. Together, we are building on a significant track record with a combined 50 years of experience in developing products to help millions of patients in regenerative medicine. We are thrilled to welcome the talented Collagen team to RTI Surgical, and to expand our partnerships with customers to improve patient healing, accelerate recovery and help prevent complications.”

Collagen Solutions is an excellent strategic fit for RTI Surgical, bringing specialized and complementary capabilities and expertise in soft tissue engineering.

Olivier Visa, President and Chief Executive Officer, RTI Surgical

RTI’s acquisition of Collagen Solutions is backed by its main shareholder Montagu. Adrien Sassi, Partner at Montagu, said: “Supporting patient care by helping to bring clinically differentiated solutions to market in a fast and reliable way is at the core of RTI’s mission, and the acquisition of Collagen Solutions is a transformative step in this journey. It reinforces RTI’s ability to partner strategically with OEMs from early product development to full-scale commercialisation, including in clinical applications facing unmet patient needs like structural heart and tissue reconstruction.”

The acquisition of Collagen Solutions is a transformative step in this journey.

Adrien Sassi, Partner, Montagu

Rick Mulford, CEO of Collagen Solutions, commented: “RTI Surgical shares our strong commitment to quality, innovation and customer care, making it the ideal new owner for Collagen Solutions. As we transition, I’m confident RTI will continue to drive the development of collagen-based biomaterials and effectively expand its work in cardiac and other clinical areas. We’re excited for the future of Collagen Solutions under RTI’s leadership.”

We’re excited for the future of Collagen Solutions under RTI’s leadership.

Rick Mulford, CEO, Collagen Solutions

DC Advisory served as exclusive financial advisor to RTI and Montagu in this transaction.

About RTI Surgical

RTI Surgical (RTI) is a leading CDMO (Contract Development and Manufacturing Organization) pushing the boundaries of innovation and tissue engineering to meet patient needs in regenerative medicine. We are expert partners to OEMs (Original Equipment Manufacturers), working with them to identify clinical problems and develop customized solutions that promote healing, accelerate recovery, and help prevent complications. Using our extensive portfolio of biological materials, we focus on specialized clinical segments, including plastic and reconstructive surgery, sports medicine and orthopedics, cardiac, and neuro and spine surgery. Headquartered in Alachua, Florida, RTI has manufacturing facilities in the United States and Europe. Montagu acquired RTI in a carve-out acquisition in July 2020. For more information, visit www.rtisurgical.com

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Senior Life Sciences Executives Launch Enovo Life Sciences, in Partnership with Warburg Pincus

Warburg Pincus logo

New York & Belgium – October 7, 2024 – Life sciences industry veterans, Mario Philips and Roel Gordijn, today announced the launch of Enovo Life Sciences (“Enovo”), in partnership with Warburg Pincus, a leading global growth investor. Enovo will focus on identifying and acquiring one or more companies to build a market-leading life sciences platform serving the biologics and advanced therapies end markets. Enovo is backed by Warburg Pincus, which is currently investing out of its latest $17.3 billion global flagship fund, Warburg Pincus Global Growth 14 (“WP GG 14”).

Enovo is led by Mario Philips and his longtime colleague, Roel Gordijn. Mr. Philips and Mr. Gordijn collectively have over 50 years of leadership experience in the life sciences sector, including in vaccine and antibody manufacturing and, more recently, in the rapidly growing field of Advanced Therapy Medicinal Products. They played key roles in Warburg Pincus’ investment in Polyplus, a leading provider of upstream solutions for cell and gene therapies, where they oversaw significant organic growth and strategic acquisitions until its ultimate €2.4 billion sale to Sartorius Stedim Biotech last year.

Prior to his role as CEO of Polyplus, Mr. Philips, based in Belgium, held executive positions at Danaher/Pall Biotech, a leading life sciences company, and ATMI Life Sciences, a global technology company and leader in single-use bioprocessing solutions. Prior to his role as Chief Commercial Officer at Polyplus, Mr. Gordijn, based in the Netherlands, held a variety of executive roles at Danaher/Pall Biotech, ATMI Life Sciences, and Lonza.

Mario Philips, CEO, said, “Enovo Life Sciences will focus on acquiring one or more companies with proven capabilities and compelling growth potential with the aim of building a scaled, market-leading life sciences business. This platform will provide companies with the capital necessary to enable innovation that meets the needs of customers and patients, with the support of Warburg Pincus and its global network. We are well-positioned to invest in and develop a sizable platform where the latest technology and a sharp focus on value creation can unlock further growth.”

Roel Gordijn added, “We are thrilled at the prospect of building Enovo Life Sciences and continuing the success story we’ve had previously with Warburg Pincus. This investment will allow us to pursue partnerships with businesses with truly differentiated offerings and expertise. We are excited to partner with companies across the U.S., Europe and beyond, that are leaders in their respective fields.”

“The launch of this platform underscores our commitment to working with management teams and companies that support the delivery of innovative life sciences products and services worldwide. We strongly believe in the immense opportunity and the impact that biologics and advanced therapies can have on patients,” said T. J. Carella, Managing Director, Head of Healthcare, Warburg Pincus. “Mario and Roel have an unparalleled track record of leading and growing global businesses in life sciences and are the ideal executives to launch and build a platform that supports the development and delivery of life-changing therapies,” added Ruoxi Chen, Managing Director, Warburg Pincus.

Enovo will be supported by Warburg Pincus teams in London, New York and other global offices. The launch of Enovo follows Warburg Pincus’ announcement of Jake Strauss leading the healthcare investing practice in Europe, highlighting the firm’s commitment to healthcare investing at a global scale.

Since inception, Warburg Pincus has invested over $18 billion in more than 180 healthcare companies, including Summit Health, Modernizing Medicine, Ensemble Healthcare Partners, and Global Healthcare Exchange, and has been an active investor in life sciences, with investments in Norstella, PolyPlus, Simtra, Sotera Health, and Bausch + Lomb, among others.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

Contact

info@enovolifesciences.com

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Bluegem Capital Partners and AREV to acquire Pinard Group from IK Partners

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IK Partners

Bluegem Capital Partners (“Bluegem”), the value-oriented consumer staples private equity fund, and AREV today announce that they have completed the joint acquisition of Pinard Group (“Pinard” or “the Group”), a producer of high-end packaging solutions for the Beauty & Personal care (“BPC”) and Pharmaceutical industries. Bluegem and AREV are acquiring their respective stakes from the Pinard Management Team and IK VIII Fund, a fund managed by IK Partners (“IK”).

Bluegem and AREV will be co-majority shareholders, owning the company alongside the Pinard Management Team and the founding family members who are reinvesting.

Pinard Group specialises in the design and manufacture of packaging solutions for prestige and luxury brands in the BPC space through its Pinard Beauty Pack (PBP) subsidiary and for pharmaceutical customers through its Lablabo subsidiary, the inventor of the bag-in-bottle airless technology.

Since IK’s acquisition of Pinard in July 2017, the company launched and delivered several successful initiatives including: the strengthening of the Group’s management with the recruitment of a CFO and several key managers; continued investment to increase capacity, including eco-friendly packaging solutions; and the accretive acquisition of Lablabo. The collaboration between IK and the Pinard Management Team delivered robust organic growth in the ownership period, as well as the expansion into the Healthcare sector.

Bluegem and AREV’s strategy is to capitalise on the technical know-how and strong IP of the Group to build a high-end supplier of fully circular plastic packaging solutions for the BPC and Pharmaceutical sectors. PBP is a Platinum EcoVadis manufacturer of sustainable plastic packaging solutions ranked within the Top 1% globally. As plastics become increasingly circular, with three major plastic recycling facilities being built in France, the Group will be ideally placed to supply its customers with high-end sustainable plastic solutions.

Thomas Pinard, CEO of Pinard, commented: “We are looking forward to working with our new shareholders as we consolidate our position as a leading provider of high-end solutions to the world’s most prestigious and most dynamic brands, building on our unique combination of customer-focus, operating excellence, global reach, technical know-how, and passion. We would like to thank the team at IK for their continued support over the past seven years.”

Mathieu Develay, Partner at Bluegem, commented: “We are delighted to invest in Pinard Group alongside its founding family, its management team and our co-controlling partner AREV. We have closely followed the progress of the company in recent years and have been very impressed by the successes achieved by its management team. Pinard Group is a unique player in the packaging industry, with market-leading positions in prestige Beauty and Pharmaceuticals, thanks to over 50 years of industrial knowhow and circular plastic innovations. We are looking forward to supporting an accelerated growth strategy, both organically and through acquisitions, in what is a highly fragmented market.”

Emilio Di Spiezio Sardo, Founding Partner at Bluegem commented: “Pinard is a great example of the Bluegem strategy to invest earlier in the entire value chain within the non-discretionary consumer staple space. With the Consumer sector accounting for over 50% of global GDP, we see a vast opportunity to make investments which are underpinned by solid fundamentals (strong R&D and IP), structural tailwinds (fully circular plastic solutions and nearshoring of high-end manufacturing) and have the ability to perform consistently through the cycle.”

Xavier Geismar, Co-Founder of Arev Partners added: “We are excited about our partnership with Thomas and Pierre-Olivier Pinard and the management team, and we have high ambitions for the company. We are very impressed with Pinard Group’s strong market positioning based on its superior customer orientation and operational excellence, which is reflected in the company’s growth and performance over the years. We will work with the management team to continue strengthening Pinard’s ESG innovation capabilities, accelerating expansion, and by pursuing a synergistic buy-and-build strategy to tap into adjacent market segments and to broaden the product portfolio.”

Julien Lammoglia, Co-Founder of Arev Partners declared: “The acquisition of Pinard Group is AREV’s third transaction in France and marks another milestone in the development of the fund’s strategy to build a concentrated portfolio of high-quality assets operating in markets with attractive fundamentals, strong management teams and where we identify significant opportunities for AREV to support and accelerate growth, organically and through buy and build. The Group is positioned in the growing and resilient end markets of prestige cosmetics and pharmaceuticals and is a high-end packaging innovation leader. Pinard Group is notably an ESG front-runner in the packaging space and this transaction is a great example of AREV’s objective to invest in companies that have a positive impact on society.”

Dan Soudry, Partner at IK Partners and Advisor to IK VIII Fund, commented: “We are pleased with the progress the business has made in the past seven years, overcoming market challenges to deliver robust growth, while the acquisition of Lablabo has also allowed for the diversification of the product range. We wish the team at Pinard as well as their new owners, the very best of luck in the next stage of its development.”

About Pinard Group

Founded in 1970 in France, Pinard Group specialises in the design and manufacture of packaging solutions for prestige and luxury brands in the BPC space through Pinard Beauty Pack (PBP) subsidiary and for pharmaceutical customers through its Lablabo subsidiary, the inventor of the bag-in-bottle airless technology, acquired in 2019. The Group addresses prestige and masstige brands, while serving a long-standing clientele. Distribution is primarily focused in France (60%) where most trades are, followed by the Rest of Europe (30%) and US (10%).

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About Bluegem Capital Partners LLP

Bluegem is a pan-European specialist private equity firm investing in value-oriented consumer staple businesses across the value chain (B2C; B2B2C; B2B) underpinned by non-discretionary demand and supported by megatrend tailwinds. The Bluegem Investment Team work alongside experienced Portfolio Management and Functional Experts, to deploy a proven toolkit for accelerating value creation. The Bluegem value acceleration playbook is underpinned by data analytics and includes, among other things, 360-degree digitalisation of the businesses (including the use of artificial intelligence), international expansion and product innovation. With a track record of investing across Europe through different economic cycles, Bluegem focus on businesses with characteristics of consumable products; low ticket but premium products; non commodity items; with repeat purchase patterns within seven distinct segments: Beauty & Personal Care, Home Care, Baby Care, Pet Care, Food & Beverage, Consumer Health and Enthusiast Products. For more information, visit: bluegemcp.com

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About AREV

AREV I SCA, SICAV-FIAR invests in European private companies across the Healthcare, Digital & Technology, BtoB Services & Products, and Consumer sectors. We target businesses that we can significantly transform or scale, partnering with ambitious entrepreneurs and management teams. Our approach combines strategic, financial and operational expertise, in conjunction with our wide-reaching industry network. Founded by two experienced private equity executives and with more than €300m under management, AREV I seeks to deploy capital in companies that have an EBITDA comprised between €5m to €15m, with equity tickets ranging from €25m to €75m. For more information, visit: arevpartners.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 €17 billion of capital and invested in over 190 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 ikpartners.com

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CDPQ and Nuveen Green Capital launch USD 600-million integrated financing program for sustainable commercial real estate development

Cdpq
  • Innovative program will combine senior and Commercial Property Assessed Clean Energy (C-PACE) financing, providing a one-stop shop for bridge and construction loans to meet the growing demand for sustainable commercial real estate financing
  • The program will support cost-effective energy efficiency, water conservation, renewable energy and resiliency improvements tied to new or existing commercial real estate (CRE) developments with the aim of reducing the environmental impact and improving sustainability of the built environment

CDPQ, a global investment group, and Nuveen Green Capital (NGC), a leader in sustainable commercial real estate financing solutions, announced today the launch of a USD 600‑million (CAD 830‑million) integrated sustainable commercial real estate financing program. This innovative offering combines Commercial Property Assessed Clean Energy (C‑PACE) financing and senior bridge and construction financing aimed at the U.S. commercial real estate (CRE) market.

The competitive, single-source program will provide a substantial source of flexible, committed, and discretionary capital for new large-scale construction and bridge financings across key asset classes and markets. The program will offer a turnkey solution while also driving the adoption of sustainability measures in commercial buildings. As a leading provider of C‑PACE across the United States, NGC will act as the primary sourcing agent for the integrated financing program.

“Developing greener buildings and reducing the carbon footprint of our built environment can create significant value. Through this distinctive financing program, we are able to accelerate the implementation of environmentally sound measures for commercial real estate owners and developers,” said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. “We are excited to combine our long-term capital with Nuveen Green Capital’s extensive expertise to offer a sustainable integrated financing solution that fully aligns with CDPQ’s climate strategy and commitment to decarbonize the real economy.”

“CDPQ’s strong commitment to sustainability and track record of innovation align very well with our mission,” said Jessica Bailey, President and CEO, Nuveen Green Capital. “This program represents another exciting milestone for the C‑PACE industry and Nuveen Green Capital. We are thrilled to be working with CDPQ to build this one-stop shop for bridge and construction loans to meet the growing need for commercial real estate financing.”

Aligned with the U.N. Sustainable Development Goals, C‑PACE is a U.S. commercial real estate financing initiative to promote a cleaner and safer built environment. In the 40 states where it is offered, commercial property owners can obtain accretive, long-term financing for energy efficiency, renewable energy, water conservation and climate resiliency measures for new development, renovation, or post-construction recapitalization projects.

Since its founders launched the first successful C-PACE financing program in 2014, NGC has been at the forefront of establishing the asset class. Today, the U.S. C‑PACE market surpasses over USD 7 billion in financing activity across over 2,300 projects1. In 2023, NGC provided 41% of the total C-PACE originations volume2.

1Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data.
2Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data and NGC’s total origination’s volume for 2023.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

ABOUT NUVEEN GREEN CAPITAL

Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the investment manager of TIAA responsible for over $1 trillion in assets under management. Established in 2015 by the C-PACE industry’s founders and standard-setters, Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial real estate owners who seek to improve the energy, water and resiliency performance of their property. For more information, visit www.nuveen.com/greencapital.

– 30 –

For more information

  • Media contact+1 514 847-5493 (Québec/Canada)+1 212 596 6314 (International)medias@cdpq.com
  • JAMIE MCCORRY
    Vice President, Marketing & Communications
    NUVEEN GREEN CAPITAL
    +1 959 261-8689
    jamie.mccorry@nuveen.com

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F2i and Finavias sell their entire shareholding in 2i Rete Gas, Italy’s second-largest natural gas distribution operator, to Italgas

Ardian

F2i and Finavias have signed an agreement for the sale of 2i Rete Gas, Italy’s second-largest natural gas distribution operator, to Italgas. F2i currently holds 63.9% of 2i Rete Gas and Finavias, a corporate vehicle owned by APG Asset Management and funds managed by Ardian, holds the remaining 36.1%.

This agreement follows an exclusivity negotiation period granted to Italgas by the sellers last May. The transfer of shares is subject to approval by the relevant authorities and is expected to take place in the first part of 2025.

The agreement assigns 2i Rete Gas an equity value of EUR 2.06 billion as at 31 December 2023.

Under F2i’s leadership and with the full support of APG and Ardian, the company has embarked on a significant growth trajectory expanding its number of users from 1.9 million to 4.9 million, and currently manages a network exceeding 72 thousand kilometers, with over 2,200 concessions operated by a workforce of 2,200 individuals. This expansion was achieved through strategic acquisitions, development of the networks operated, and successful participation in the few tenders offered for concession renewals.

“The sale of 2i Rete Gas marks the conclusion of an important journey in which F2i has played a leading role. 2i Rete Gas is now established as a major national operator that is both efficient in scale and technological expertise and has transformed the ownership structure of a historically fragmented sector. The efficiency achieved by 2i Rete Gas has contributed to a gradual reduction in gas distribution tariffs, benefiting the entire national community. The merger with Italgas completes this journey. F2i and its investors thank the management team and everyone at 2i Rete Gas who, over the years, have contributed to the company’s industrial growth, achieving high standards of service and safety.” Renato Ravanelli, CEO of F2I SGR

“We are proud to have been part of 2i Rete Gas’s history since the beginning, and to have contributed to the growth and consolidation of the company into a national champion in energy infrastructure. In addition to this, we are pleased to have contributed, since 2018 alongside APG, to positioning 2i Rete Gas as a key player in the path towards Italy’s energy transition. We thank F2i and the management team for their mutual support during these years and wish Italgas every success for the future.” Rosario Mazza, Senior Managing Director and Head of Infrastructure Italy, Ardian

Cleary Gottlieb Steen & Hamilton acted as legal advisor to F2i and Finavias and Studio Di Tanno as fiscal advisor. Studio Chiomenti assisted Finavias as legal advisor.

ABOUT F2I SGR

F2i SGR is Italy’s largest independent infrastructure fund manager, with assets under management, between equity and debt, of approximately EUR 8.2 billion. The companies in F2i’s network make up Italy’s main infrastructure platform, spanning six key sectors of the national economy such as transport and logistics, energy for transition, circular economy, distribution networks, telecommunications networks and services, and social-healthcare infrastructure. Led by its CEO Renato Ravanelli, F2i, through its subsidiaries, has about 24,000 employees whose work allows millions of people to use services and infrastructure that are essential for daily life. F2i SGR’s key shareholders include financial institutions, including banking foundations, domestic and foreign social security and pension funds, domestic and international asset managers and sovereign wealth funds. The funds managed by F2i SGR are subscribed by leading Italian and foreign institutions. F2i participates in the United Nations Global Compact and adheres to its approach based on responsible business principles.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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 is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,050+ 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

ABOUT APG

APG Group is the world’s largest independent pension fund manager with pension assets of c.€569 billion (as of December 2023) representing 4.6 million participants in the Netherlands, with main offices in Amsterdam, New York, and Hong Kong.
On behalf of its clients (all of which are pension funds), APG has been an active infrastructure investor since 2004, investing a total of c.€27 billion to date. APG’s investments include assets within transport infrastructure, energy, utilities, telecommunications and social.

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com 

F2I SGR

Laura Sisti

Laura.sisti@axel-comm.it+39 347 4282170

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Accent Equity-owned TSG acquires AF Shipping, expanding presence in northern Sweden

Accent Equity

  • ThorSvecon Group (TSG) expands into northern Sweden with the acquisition of AF Shipping, based in Umeå
  • This acquisition allows TSG Global Forwarding to strengthen its market position along Sweden’s east coast, offering a comprehensive product portfolio from Oskarshamn in the south to Skellefteå in the north
  • AF Shipping’s founder has re-invested alongside Accent Equity and TSG management

TSG Global Forwarding, part of TSG, has expanded its operations to northern Sweden through the acquisition of AF Shipping, a leading provider of ship and port agency services based in Umeå. Founded in 2002, AF Shipping specializes in ship agency, port agency, and freight forwarding services, with a strong presence in Umeå, Skellefteå, and other key northern Swedish ports.

“The acquisition of AF Shipping is a strategic step in our plan to reinforce our presence in northern Sweden. With AF Shipping now part of TSG, we gain a local foothold in the region’s major ports, enabling us to offer our full range of services, from Oskarshamn to Skellefteå,” said Daniel Berglind, Head of TSG Global Forwarding.

 

Fredrik Lyrenäs, CEO and co-founder of AF Shipping, expressed enthusiasm about joining the TSG Group: “Becoming part of TSG is an exciting milestone for us. We’re now aligned with a company deeply committed to providing locally rooted logistics and transport solutions in a global market. This partnership will allow us to offer our existing clients an enhanced and broader service offering. TSG is the perfect fit for us, as we share a strong entrepreneurial spirit and a customer-first approach.”

 

Looking ahead, Daniel Berglind sees significant opportunities for continued growth: “There’s great potential as we move forward, both through organic growth and strategic acquisitions. This acquisition marks another step in our commitment to expanding our business and delivering enhanced value to our customers.”

For more information, please contact:

Mikael Strand, Associate Partner of Accent Equity, +46 70 542 50 01,
mikael.strand@accentequity.se

Eric Hjalmarsson, CEO ThorSvecon Group, +46 70 331 71 22,
eric.hjalmarsson@tsg.se

Daniel Berglind, Head of TSG Global Forwarding, +46 70 591 41 65,
daniel.berglind@tsg.se

About ThorSvecon Group:
ThorSvecon Group is a logistics company offering door to door sustainable solutions integrating short sea liner services, terminals, warehousing, forwarding and agency services. The group’s short sea liner service is calling ports in Sweden, UK, Netherlands, and Belgium. In the UK, the group operates a port terminal in the port of Hull.
www.tsg.se

About AF Shipping:
AF Shipping was established in 2002 and is based in Umeå. Offered services range from shipping agency and port forwarding to complete logistic solutions including storage handling and land transportations for most type of goods including bulk cargo, general cargo, forest products, and heavy-lift projects. The company is primarily active in the ports of Umeå and Skellefteå.
www.afshipping.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
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Kerv announces strategic acquisition of Microsoft Dynamics consultancy, Inciper

Bridgepoint
Today, Bridgepoint portfolio company Kerv has announced the acquisition of Inciper – a consultancy focused on the implementation and support of Microsoft Business Applications and Data Analytics with particularly specialisms in Dynamics for Finance & Operations, the large-scale Enterprise Resource Planning (ERP) platform. The acquisition brings with it Inciper’s 75 expert practitioners and the combined operations will create in Kerv a unique capability – expertise across the entire range of Microsoft Dynamics 365 business applications and the ability to transform organisations across all aspects of their operations – from mid-market to the largest enterprises and Public Sector organisations.

The Inciper team will join Kerv Digital, the Group’s Microsoft-aligned Digital Transformation practice, and will continue to be led by their founders, Mark Roberts and Dave Sanderson.

Speaking about the acquisition and the Inciper team, Kerv’s executive chair Alastair Mills said “We are delighted to welcome the Inciper team to Kerv. Mark and Dave have built a fantastic business that is well known for their leading position in the Microsoft Dynamics F&O market. We know there is a strong cultural alignment between the teams and together, we’ll focus on our achieving our mission of helping organisations harness the power of technology for the good of our people, our customers, our society and our planet.”

Mark Roberts, Inciper’s co-founder, said: “We are incredibly proud of what Inciper has become over the past eight years and, from the very first conversation with the Kerv team, we recognised that we’d found a kindred spirit, with such close alignment in many areas including the importance of customer and employee experience.  That, combined with the excellent capability fit across the two companies, means we are really excited about what the future holds for Inciper within the Kerv Group.”

Robin Lawson, Partner at Bridgepoint Development Capital, said: “Inciper is a highly complementary first acquisition for Kerv since our investment earlier in 2024, enhancing its specialist capabilities within the high-growth dynamics and data space. Inciper’s expertise will allow Kerv to continue winning large and complex transformations, further positioning the business as a leading digital transformation partner in the UK.”

Inciper serves mid-market, enterprise and large public sector organisations including The Welsh Government, Marston Holdings and M&S, and brings additional revenues in excess of £10m to Kerv, together with an organic growth rate of 20%. Inciper is a highly accredited, directly managed partner of Microsoft, and is widely recognised for its expertise in the Microsoft Dynamics 365 CE & F&O, Power Platform and data platform & analytics capabilities.

Funding was provided by Kerv’s existing investment partner Bridgepoint, via its Bridgepoint Development Capital franchise, with additional support from existing investor LDC and facilities from Apera.

The transaction closed on 30 September 2024.

Categories: News

CDPQ increases its stake in Saputo Inc.

Cdpq

CDPQ, a global investment group, today announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), a world leader in the processing, production, marketing and distribution of dairy products.

CDPQ’s stake in the company now totals approximatively 4.5%, following the acquisition of 13.5 million shares at a price of $27.96 per share. CDPQ’s first stake in Saputo dates back to 1997.

Founded in Montréal in 1954, Saputo is now one of the top ten dairy processors in the world. The Québec company produces and distributes a wide range of dairy products in Canada, Australia and Argentina, among other countries. Saputo is also one of the three largest cheese manufacturers in the United States, and the largest manufacturer of branded cheese and dairy spreads in the United Kingdom.

“CDPQ is proud to continue supporting Saputo, a leading Québec company, by increasing its stake in this world leader in dairy processing,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “We’ve been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Québec.”

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

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