Category Archives: News

H.I.G. Capital to Acquire RBmedia from KKR

All employees to benefit from sale and will receive payouts from their ownership stakes

NEW YORK & LANDOVER, Md.–(BUSINESS WIRE)– Leading global investment firms KKR and H.I.G. Capital (“H.I.G.”) today announced that an affiliate of H.I.G. will acquire RBmedia and support its next phase of growth and development. RBmedia is the leading audiobook publisher in the world with a powerful digital distribution network that reaches millions of listeners around the globe.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230725893966/en/

RBmedia employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)RBmedia employees react to the news of the cash payouts they will receive upon close of the transaction (Photo: Business Wire)

“This acquisition marks a milestone achievement for RBmedia and represents the next chapter in our ongoing business growth and expansion,” said Tom MacIsaac, Chief Executive Officer for RBmedia. “Over the last five years, we have been privileged to work with the KKR team to create a leading company and to become a trusted partner for authors, publishers, distributors and voice actors, and we look forward to working with H.I.G. to build on that foundation.”

Since KKR’s investment in August 2018, RBmedia has doubled the size of its catalog – from over 31,000 to over 66,000 audiobooks – and expanded its distribution channels. During this period, RBmedia also experienced five years of double-digit revenue growth, invested in diverse content and expanded into international markets.

“Over the last five years, the RBmedia team has consistently delivered high-quality, award-winning content for customers and value for its authors and creators. It’s been a remarkable growth journey with a dedicated team and a sense of partnership and ownership that has led to great results for all of RBmedia’s stakeholders, including all employee owners who will participate in the positive financial outcome,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business, and Richard Sarnoff, Chairman of Media at KKR. “We have every confidence that H.I.G. will help take RBmedia to even greater heights.”

“The audiobook market is set for significant growth and investment in the coming years,” said Aaron Tolson, Managing Director at H.I.G. “We are thrilled to partner with RBmedia’s world-class management team and to help them build on their success to date as they continue to shape the digital media landscape.”

Upon closing of the transaction, all RBmedia employees will receive a cash payout based on their tenure with the company. Long-term employees will earn up to two times their annual salary.

Since 2011, KKR has supported its portfolio companies in awarding equity worth billions of dollars to over 60,000 non-management employees across more than 30 companies, and has committed to deploying this model in all control investments across its entire Americas Private Equity platform. KKR is also a founding member of Ownership Works, a nonprofit organization that partners with companies and investors to provide all employees with the opportunity to build wealth at work.

The transaction, which is subject to customary regulatory approvals, is expected to close by Q4 2023.

RBmedia was advised by Goldman Sachs & Co. LLC and LionTree Advisors. Simpson Thacher & Bartlett LLP served as legal counsel to RBmedia. Morgan Stanley & Co. LLC and RBC Capital Markets acted as financial advisors, and Latham & Watkins LLP provided legal advice, to H.I.G. Capital.

About RBmedia

RBmedia is the leading audiobook publisher in the world. With more than 66,000 titles, our audiobooks continually top key literary awards and bestseller lists. The company’s powerful digital retail and library distribution network reaches millions of listeners around the globe—at home, in the car, and everywhere their mobile devices go. Our titles are available on leading audio platforms, including Audible, Spotify, Apple, Google Play, Audiobooks.com, Storytel, OverDrive, Hoopla, and many more. Find out more at rbmediaglobal.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 and on Twitter @KKR_Co.

About H.I.G. Capital

H.I.G. Capital is a leading global alternative investment firm with $58 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
  4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.

Media
For KKR:
Miles Radcliffe-Trenner and Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

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Outcome of the optional dividend for the FY 2022-2023

GIMV

Outcome of the optional dividend for the FY 2022-2023: 50.8% of the dividend rights on the FY 2022-2023 are distributed in the form of new ordinary shares, resulting in a capital increase of EUR 25.2 million

Topic: Dividend

Gimv today announces that 50.8% of the dividend rights on the financial year 2022-2023 had been presented in return for 658,576 new ordinary shares, for a total amount of EUR 25.2 million.

Gimv’s AGM on 28 June 2023 approved the distribution of a gross dividend of EUR 2.60 per share (EUR 1.82 net) for the financial year 2022-2023. In addition, Gimv offered shareholders the option of subscribing to new ordinary shares, each share being exchanged for 21 dividend rights on the financial year 2022-2023 (EUR 38.22), or of taking a cash dividend or a combination of both. The new shares will be of the same type as the existing shares (with no right to a reduced withholding tax) and give entitlement to payment of a dividend from Gimv’s profits as from 1 April 2023. Gimv shareholders were asked to communicate their choice between 5 and 25 July 2023.

13,830,096 dividend rights on the financial year 2022-2023 were presented in exchange for 658,576 new ordinary shares, for a total amount of EUR 25.2 million. These new shares will be issued on 28 July 2023 and will be admitted to listing on Euronext Brussels on the same date. The balance of the dividend will be distributed on 28 July 2023 in cash, amounting to a gross total of EUR 45.6 million.

As a result of this capital increase, Gimv’s equity (group’s share) will amount to EUR 1,266.8 million* and will be represented by 27,881,273 ordinary shares. Each of these shares carries one voting right at the general shareholders meetings and the total number of shares indicated above will represent the denominator for purposes of notifications under the transparency regulations. VPM, Gimv’s reference shareholder, opted for payment in shares on 63% of its shareholding and now holds 7,753,778 shares, equating to 27.81% of the capital. Consequently, Gimv’s free float amounts to 72.19%.

This capital increase adds EUR 25.2 million to Gimv’s equity, in contrast to the situation that would have prevailed had the dividend entirely been paid in cash. The cash which is not paid out will be used by Gimv to finance growth and further value creation in the portfolio.

* Most recently published equity value (group’s share) as at 31 March 2023, excluding the dividend on the financial year 2022-2023 and increased with the amount of the capital increase.

 

Read the full document

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

Categories: News

Cromwell Property Group and Bain Capital Special Situations to develop two LEED Gold logistics warehouses in Tuscany, in the Florence macro-area

BainCapital

FLORENCE, Italy – 25th July 2023 – Real estate investor and fund manager Cromwell Property Group and Bain Capital Special Situations, a leading global special situations investor with experience supporting differentiated real estate platforms, have acquired a new plot of land for development of two modern grade A logistics warehouses in the greater Florence area, adding to their growing portfolio in Italy.

Part of a series of planned developments by the two firms, this latest acquisition confirms their conviction in the Italian logistics market and their intention to continue taking advantage of the shortage in supply of logistics assets across Italy.

Designed to meet all modern grade A logistics standards, and with the flexibility to accommodate up to four occupiers, the two assets will be developed on a 155,000 square-meter plot of land in Lari, an industrial and logistics cluster strategically located along the motorway connecting Livorno commercial harbour and Florence (just 35 mins from the A1 tollgate). The area is an established logistics hub that is home to many well-known logistics operators, including Amazon, SDA Express Courier, Fercam, Ceva Logistics, STEF, Arco Spedizioni, DB Schenker, as well as international giants DSV, LIDL, DS Smith, Gucci, Fendi and Piaggio.

The site is a three-minute drive from a major junction with the Fi-Pi-Li motorway, a fast route crossing Tuscany that connects Florence, Livorno and Pisa, the main cities in the region. The catchment area is home to one million people within a 20-minute drive, increasing to two million within a 60-minute drive.

Cromwell has already received preliminary interest to lease more than three times the expected gross lettable area and expects to have most of the assets let by the start of construction in September 2023.

All future assets in the strategy will be developed to grade A logistics standards incorporating modern technical specifications and will target the LEED Gold certification. Innovative and alternative construction techniques and materials will be considered in order to lessen the environmental impact of construction and enable ongoing energy efficiency, carbon and cost savings.

Lorenzo Caroleo, Cromwell’s Head of Italy said:

“This acquisition not only highlights our commitment to the logistics sector in Italy, but also demonstrates our commitment to ESG and willingness to invest across the country in locations where the assets and local submarkets align with our investment strategy. So far, we’ve acquired assets in northern, southern and now central Italy.

“With construction due to start in September, these warehouses will be ready to accept tenants in 2024 and we are already in discussions with several potential occupiers, keen to take advantage of the modern, efficient and flexible warehouse space we are providing.

“This is our second such acquisition in a few months, despite the macro uncertainty and challenging financing conditions, with more to come as we press ahead with our pipeline of opportunities and additional land plots to be developed in the near future.”

Rafael Coste Campos, a Managing Director at Bain Capital Special Situations added:

“We like to invest in hard-to-access real estate sectors, underpinned by enduring secular trends that drive long-term demand. By partnering with Cromwell, with its experienced on-the-ground Italian team and in-house development capabilities, we have identified a deep dislocation between the supply of modern logistics facilities and the demand from occupiers across the region. We look forward to working with them on this mandate.”

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Carlyle Provides $200 Million Term Loan to iRobot

Carlyle

NEW YORK, NY – Global investment firm, Carlyle (NASDAQ: CG), today announced it has closed a $200 million senior secured term loan to iRobot Corp. (NASDAQ: IRBT) (“iRobot”), a leader in consumer robotics.

iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold millions of robots worldwide. iRobot’s product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live.

“iRobot is a demonstrated leader in the consumer robotics space with an innovative approach to bringing valuable products and technology into consumer’s homes,” said Jesse Hou, a member of the Carlyle Credit Opportunities Fund. “We are pleased to partner with a leading management team and support an iconic global consumer brand.”

“Securing financing to increase our credit facility is a critical component in our mission to continue developing helpful products that make customers’ lives easier,” said Colin Angle, chairman and CEO at iRobot. “We are thankful for Carlyle’s support, which will enable us to fulfill our goals during a time where iRobot faces a dynamic market environment.”

Carlyle Global Credit manages $150 billion in assets as of March 31, 2023. It is an active provider of private credit solutions across the capital structure, including senior secured loans, unitranche loans and junior debt.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $381 billion of assets under management as of March 31, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

Media and Investor Relations

Kristen Greco
Carlyle
Corporate Communications
(212) 813-4763
Kristen.greco@carlyle.com

Charlie Vaida
iRobot
Corporate Communications
(781) 430-3182
cvaida@irobot.com

OR

Karian Wong
Investor Relations
iRobot
(781) 430-3003
investorrelations@irobot.com

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Carlyle to acquire Evolution Funding

Carlyle

London, United Kingdom, 25 July 2023 – Global investment firm Carlyle (NASDAQ: CG) announced today that it has agreed to acquire Evolution Funding (“Evolution”), the UK’s largest used auto finance platform, investing alongside Evolution’s founders and existing investor LDC. The terms of the transaction were not disclosed.

Based in Chesterfield, UK, Evolution is a technology-led motor finance platform that connects car dealers and auto finance providers with multiple lenders. Since it was founded in 2002, the business has grown to become the largest used car finance marketplace in the UK with its funding platform widely embedded across UK automotive dealerships. It has c. 500 employees and supports over 4,000 dealer forecourts, including national car dealerships such as Marshall, Sytner Group and Trust Ford, and major online-only used car dealers such as Cinch and Cazoo. It also has brand partnerships with the AA and fintech services like Experian and ClearScore, which offer access to direct-to-consumer channels. In the last twelve months, Evolution has enabled nearly 150,000 financing transactions with a total platform volume in excess of GBP 2 billion. Over the last four years, the business has almost quadrupled the total volume of advances it enables along with doubling its employee headcount.

Evolution has made two key strategic acquisitions in recent years: Click Dealer in July 2021 and Motion Finance in May 2023. Click Dealer is highly complementary to Evolution’s existing services and supports its growth strategy to enhance its technology, digital capabilities, and SaaS proposition. Motion Finance has allowed Evolution to further grow its core market share in independent motor dealers.

Equity for the investment will be provided by Carlyle Europe Technology Partners (“CETP”) V, a €3 billion fund which invests in technology companies across Europe. CETP will work with management to support Evolution’s growth in the used car finance market by working to expand the range of dealers’ product offerings on its interface and in doing so becoming an enablement platform for additional sales, developing a digital lead-generation capability, and exploring consolidation of the fragmented motor finance market through further M&A.

Fernando Chueca, Managing Director in the CETP investment advisory team, said: “In Evolution, we identified the opportunity to partner with an advanced technology platform in the UK’s fragmented market for used car finance, which we believe is an attractive and growing segment. In addition to its market leading position and high barriers to entry, we believe the continued development and expansion of Evolution’s digital platform, as well as exploring M&A opportunities, can unlock significant value. We look forward to working with Lee and the entire team at Evolution.”

Lee Streets, founder and CEO of Evolution Funding, said: “We believe Evolution holds a unique position in the UK’s motor finance market, built upon capturing the opportunity to provide a differentiated, technology-based platform which helps both lender and dealer partners navigate change from digitisation and regulation. In Carlyle, we have found the ideal partner to continue our growth journey, given their experience growing and scaling entrepreneurial technology businesses like ours.

We would like to thank the team at LDC for their support over the last four years, investment in the development of our technology platform, and for helping us to position Evolution at the leading edge of the market. We are excited for this next stage of Evolution’s journey as we continue to transform the motor finance market.”

Lawrence Dean, Partner and Head of South at LDC, added: “Lee and his team have almost quadrupled the total volume of advances Evolution’s platform enables in the last four years; a significant achievement given the uncertainty in the market. In addition, Evolution has continued to invest in its technology, playing a leading role in the digitisation of the motor finance market and developing innovative digital finance solutions that are shaping the industry and customer experience. We look forward to continuing to work together to support Evolution’s future growth plans.”

CETP was advised by Houlihan Lokey, DLA Piper, Alvarez & Marsal, LEK and Seedcloud.

Evolution Funding and LDC were advised by Arma Partners, Gowling WLG, KPMG, OC&C and Crosslake.

The transaction is subject to FCA approval.

 

###

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $381 billion of assets under management as of March 31, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

 

About Evolution Funding

  1. Evolution Funding is the UK’s largest independent motor finance broker and technology provider, authorised and regulated by the Financial Conduct Authority. Its head office is in Chesterfield, Derbyshire, UK. They employ circa 500 staff UK-wide.

 

  1. Evolution Funding delivers brokered motor finance solutions for approximately 4,000 active motor dealers using a panel of 30+ lenders. Dealers consist of independent and franchised dealers through to car supermarkets and include many of the Top 10 national dealer groups.

 

  1. Evolution Funding develops its own market-leading technology to facilitate digital finance journeys for consumers via dealer websites, price comparison and eligibility platforms.

 

  1. Evolution Funding has been named Car Finance Awards ‘Best Broker’ for seven consecutive years.

 

  1. Evolution Funding’s Vision is “To lead change, digital innovation and excellence in motor finance”.

 

  1. For further information, visit http://web.evolutionfunding.com/news

 

About LDC

www.ldc.co.uk/pressrelease

  1. LDC is a private equity investor and part of Lloyds Banking Group. It is authorised and regulated by the Financial Conduct Authority.
  2. We have partnered with more than 675 management teams since 1981 and have a portfolio of more than 90 businesses across the UK.
  3. We have made investments across all major sectors of the UK economy and are actively supporting businesses in industries including Business Services, Consumer, Healthcare, ICT, Industrials, Media and Technology.
  4. Our teams are based in every part of the UK and we’re committed to investing in at least 100 businesses nationally over the next five years.

 

 

Media contacts

 

Carlyle:

Nicholas Brown

nicholas.brown@carlyle.com

+44 7471 037 002

 

Evolution Funding:

Sarah Simpkins

sarahsimpkins@evolutionfunding.com

+44 7971 407 631

 

LDC:

Sophie Millward, Citypress

sophie.millward@citypress.co.uk

0161 235 0350

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Thompson Street Capital Partner’s Vector Laboratories Acquires Quanta BioDesign

Thompson

Thompson Street Capital Partners (TSCP), a private equity firm based in St. Louis, today announced the acquisition of Quanta BioDesign, the inventor of discrete polyethylene glycol (dPEG®) technology for advanced bioconjugate and payload delivery design for life science and biopharma applications, by Vector Laboratories, a portfolio company of TSCP and the pioneer of innovative proteomic and glycomic research solutions. This acquisition further expands Vector Laboratories’ portfolio of bioconjugation linkers and dyes and builds on its manufacturing and bioconjugation capabilities to better serve partners across biopharma and the life sciences. Terms of the transaction were not disclosed.

“This acquisition supports Vector Laboratories’ long-term strategic vision of accelerating the pace of scientific discovery for life science companies and transformational treatments and approaches for biopharma companies,” said Lisa V. Sellers, PhD, CEO of Vector Laboratories. “It also builds on our recent acquisition of Click Chemistry Tools and Fluoroprobes and goes beyond standard linker capabilities to serve broader industrial segments, expanding what’s possible for customers in manufacturing components for their end products. It truly demonstrates a new level of flexibility in what they can accomplish with our offerings.”

Quanta BioDesign develops patented and innovative cross-linking and labeling chemistries that incorporate and are uniquely enabled by their dPEG® technology, allowing for new approaches in the areas of therapeutic and diagnostic development. The Plain City, OH-based company was founded for the purpose of developing and commercializing an extensive line of dPEG® based products for companies involved in drug discovery and diagnostic development programs.

J.C. Wetzel, TSCP Managing Director, said, “We’re excited about the opportunity to continue executing against Vector Laboratories’ long-term growth strategy by bringing cutting-edge technology to an expanding customer base, increasing its range of products and services, and ultimately impacting the important work of biopharmaceutical companies developing the next generation of treatment options.”

Vector Laboratories acquired Click Chemistry Tools, a manufacturer of click chemistry linkers and labeling reagents, and Fluoroprobes, a leader in fluorescent probes and dyes earlier this year. Vector was the first company to commercialize avidin-biotin enzyme complex kits for immunohistochemistry and antifade mounting media for immunofluorescence. Since then, it has introduced more than 600 reliable reagents and kits through four decades of leadership in labeling and detection technologies.

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Paragin Group acquires training administration software provider Coachview

Main Capital Partners

Paragin Group acquired training administration software provider Coachview, with the support of strategic software investor Main.

Paragin Group, a leading EdTech solutions provider with a specialized assessment and e-portfolio offering, has acquired training administration software provider Coachview, with the support of strategic software investor Main Capital Partners. The acquisition of Coachview marks Paragin’s second add-on acquisition, after joining forces with math-driven assessment software specialist SOWISO in 2022. The addition of Coachview to the Paragin Group will create a comprehensive product suite with strong combined expertise, technology leadership and a shared customer base.

Coachview is a developer of SaaS course administration solutions that form the digital backbone of learning services providers, schools and universities. The solutions are used by schools and training and examination institutions at all educational levels in the Netherlands and Belgium. The combination of Coachview and the Paragin Group marks another milestone in the EdTech group’s buy-and-build strategy. Together, the companies uniquely position themselves as the most comprehensive vendor to commercial training institutions, supporting lifelong learners at every step of their journey.

The Coachview platform gives its users control over their administrative processes, allowing them to service their customers more effectively while providing flexibility and insights and improving overall efficiency. The platform provides a modular and configurable solution that suits the needs of every commercial training institution. The solution automates ranges from core processes ranging from course planning and student relationship management to automated invoicing, trainer management, and offers connections to other software like accounting and learning systems.

Paragin and Coachview can offer a comprehensive suite to their (shared) clients that brings together both companies’ strengths. Paragin specializes in student-facing assessment, learning and development solutions, providing innovative tools that empower learners in their educational journey. Coachview excels in offering the administrative backbone, delivering robust systems and processes to manage educational and training institutions efficiently. Integrating Paragin’s best-of-breed assessment and e-portfolio capabilities into the broader Coachview suite will lead to a differentiating offering. This will help training institutions to automate workflows and optimize organizational efficiency while empowering learners with improved (individualized) performance assessment and better learning outcomes.

Frank van der Linden, Co-founder of Coachview, says: “Since 2008, we’ve worked tirelessly to enhance training providers’ processes with our smart software offering, transforming Coachview into a dynamic platform that offers maximum support to trainers, instructors, and trainees. Joining the Paragin Group unlocks new opportunities to deliver even more value. I’m thrilled to collaborate with Paragin, driving growth and creating value for our customers.” Marcel Kremers, Co-founder of Coachview, adds: ”With Coachview, we’ve successfully established market leadership in course administration software in the Benelux. The synergy between our companies is undeniable, and we strongly believe that together we can achieve more than the sum of our parts. We’re excited to join forces with the Paragin Group, providing added value to our customers!”

Jeroen Bakker, CEO at Paragin Group, states: “Coachview provides a fantastic platform for training organisations and schools to structure and streamline their processes to work much more efficiently and effectively. With a very broad and enthusiastic customer base, they serve a wide range of customers directly and through partners, from universities to vocational and special needs education and from commercial training agencies to in-house corporate academies, municipalities and sector funds. This makes Coachview the heart of the administrative organisation, where Paragin’s products are at the centre of learning and assessment for students and learners. We look forward to presenting that combination to our customers and partners.”

Sjoerd Aarts, Partner at Main and Chairman of Paragin’s Supervisory Board, concludes: “We are thrilled to announce the acquisition of Coachview by our portfolio company, Paragin Group. This highly strategic partnership fits perfectly within our strategy of creating a leading European EdTech provider with innovative solutions that cater to evolving needs throughout the learning journey. We are excited about the synergies and value this partnership brings to Paragin’s customers, stakeholders, and the EdTech ecosystem.”

We are excited about the synergies and value this partnership brings to Paragin’s customers, stakeholders, and the EdTech ecosystem.

– Sjoerd Aarts, Partner at Main and Chairman of Paragin’s Supervisory Board

About

Coachview

Coachview is a provider of cloud-based training administration solutions for commercial education, corporate in-house academies and training institutions in the Benelux region. The Coachview platform functions as an ERP-system that forms the administrative backbone throughout the learning journey.  The company was founded in 2000 by Frank van der Linden and Marcel Kremers who are still in charge of the day-to-day management. Today, the company employs almost 25 employees and serves a diversified clientele of more than 250 customers that includes the TU Delft, Vanderlande, Boels, Aeres Group and Utrecht University of Applied Sciences.

Paragin

Paragin Group, consisting of the brands Paragin and SOWISO, is a leading provider of software designed to propel individuals towards their maximum potential. Paragin is a domain leader in solutions for the development of competences, knowledge and talent for education, exam institutions, publishers and companies of all sizes and industries. Paragin’s product suite encompasses solutions for online admission & placement testing, formative & summative assessments (for generic as well as  mathematics-related courses), as well as an e-portfolio offering that offers users the opportunity to develop and showcase skills, experience and qualifications. Paragin provides modern, cloud-based software solutions to over 750 organizations directly and indirectly via partners including vocational education, universities of applied sciences, research universities, educational publishers, corporates and (semi-)public customers. Our committed team of almost 70 people based in our Nijkerk (NL) and Amsterdam (NL) offices serves our loyal customer base across the globe.

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DIF Capital Partners to invest £200 million in UK battery storage developer and operator Field

DIF

DIF Capital Partners (via its DIF Infrastructure VII fund) is pleased to announce a £200m investment into Field, a London-headquartered dedicated developer and operator of battery energy storage systems.

The investment will allow Field to accelerate the development and buildout of its 4.5 GWh pipeline of grid-scale battery energy storage projects in the UK and Western Europe as it seeks to contribute to the renewable energy infrastructure needed to reach Net Zero.

Field batteries

Field’s battery energy storage systems allow energy generated during times of lower demand to be stored and released to the grid during times of higher demand.

Field is already operating its first site in the UK, a 20 MWh battery project in Oldham, Greater Manchester. It has another four sites totalling 210 MWh in or near construction in the UK: Newport in South Wales, Blackburn in Lancashire, Gerrards Cross in Buckinghamshire and Auchteraw in the Scottish Highlands.

Gijs Voskuyl, Partner and Deputy CEO at DIF, said: “We’re very excited to make a second investment in the battery storage sector which we see as a critical component for the UK energy industry to reach Net Zero and which we see as highly complementary to DIF’s extensive renewable energy portfolio. We are looking forward to working with the Field management team.”

Commenting on the investment, Amit Gudka, Field CEO said: “We will not be able to meet net zero targets without significant investment in new energy infrastructure. Battery storage is a critical part of that infrastructure. The more we can build, the more effective mass-usage of wind and solar power will become.

“Our partnership with DIF Capital Partners will enable Field to accelerate the buildout of battery storage in the UK and across Europe. And it will help us build, develop and operate the storage we need to create a more reliable, flexible and greener grid.”

DIF was advised by PwC (financial) and Herbert Smith Freehills (legal). Field was advised by Nomura Greentech (financial) and Dentons (legal adviser).

 

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with ca. EUR 16 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

DIF follows two strategies: its traditional DIF funds invest in lower risk mid-sized infrastructure projects and companies in the energy transition (incl. renewables) and utilities sector, as well as PPPs and concessions. The firm’s CIF funds invest in small to mid-sized companies that will thrive in the new economy. These companies are typically active in the digital, energy transition and sustainable transportation sector.

With a team of over 225 professionals in 11 offices, DIF Capital Partners offers a unique market approach combining global presence with the benefits of strong local networks and investment capabilities. DIF is located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney and Toronto.

For more information, please visit www.dif.eu

 

About Field

Field develops, builds and operates the renewable infrastructure we need to reach net zero, starting with battery storage. Our battery storage sites provide clean energy when and where it’s needed most. This creates a more reliable, flexible and greener energy system that provides greater energy security and helps countries across Europe move on from expensive fossil fuels.

In the UK, our portfolio of battery sites are already helping to decarbonise the electricity grid, and we are already developing further projects across Europe.

For more information, please visit www.field.energy

 

Contact DIF Capital Partners: press@dif.eu

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Ardian completes first residential real estate investment with the acquisition of a historic property in Milan’s Magenta district

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Ardian

This redevelopment project is Ardian’s first investment in the residential sector and will see the building refurbished to the highest design and sustainability standards.

Via Giuseppe Revere 3

Ardian, a world-leading private investment house, announces that it has completed the acquisition of 4000 square meters property located in Milan at Via Giuseppe Revere 3.

The building was acquired by Ardian through an investment vehicle that will be managed by Investire SGR, a leading independent asset management company which specializes in bringing value to real estate portfolios.

The historic property has a gross floor area of approximately 4,000 square meters and dates back to 1898. It is located in the Magenta district, one of the most beautiful and elegant areas of Milan, and is on the doorstep of Sempione Park, a haven of green space at the heart of Milan’s historic city centre. The property is surrounded by landmark buildings including the 15th-century imposing Sforzesco Castle and museums, the Arena Civica, the Arco della Pace and the Triennale di Milano.

The Arena Civica is a large amphitheatre born by the will of Napoleon in the early 19th century and today one of the city’s main multi-purpose sports facilities; the near Arco della Pace is a triumphal arch and one of the most important symbols of neoclassicism in Milan; in front of the park is the Triennale di Milano, an international cultural institution which hosts exhibitions, conferences and events.

The eight-story building consists of seven floors above ground and one basement floor, with two urban villas also overlooking the inner courtyard. After being acquired by Ardian, the building will be refurbished to the highest design and sustainability standards. It will use renewable power sources such as geothermal energy, energy-saving luminaires, automated management systems and high thermal performance of the building envelope. The refurbishment will be completed in partnership with the De Amicis Architetti studio, specialists in modern luxury design and preserving historic architectural features. New, high-quality finishes and large terraces overlooking the park for use by residents will complete the refurbishment project.

Ardian continues to invest in Italy with a “Build-to-Green+” strategy to fill the scarce supply of sustainable buildings across the office market. After acquiring a Milan office building on Amerigo Vespucci 2 street in December 2022, Ardian is refurbishing the building to achieve net-zero energy standards. Ardian will replicate that strategy in the residential market with the acquisition of this historic building on Revere 3, which will become a best in class building for energy performance.

“We see interesting and attractive investment opportunities in Europe’s residential property market. Italy, for example, has a scarce supply of quality buildings that meet the market’s highest sustainability standards. To put that into perspective, about 80 per cent of residential properties in Italy were built before the 1980s. Milan is also experiencing growing demand for different types of accommodation particularly in student housing, where need far exceeds supply thanks to a growing young population and increasing number of international students. There are many opportunities for value creation in multifunctional urban regeneration projects including a mix of residential, office and commercial use. This is especially the case for projects focused on reaching new sustainability goals, for example around improved energy consumption and social impact.” Rodolfo Petrosino, Head of Real Estate Southern Europe, Ardian

“We have always invested in redevelopment projects and focused on improving the sustainability credentials of these buildings. We will continue to follow this strategy in the office market, in addition to replicating our approach in the residential sector. Despite the current macroeconomic backdrop, the demand for new residential units of the best quality and with the highest sustainability standards continues to grow. This is due to the scarcity of quality housing and a polarization in the market, with ESG regulation driving demand towards low-carbon properties. Milan is a hotspot for sustainable urban transformation according to the smart city model, attracting significant property investors and managers. It is a blueprint for a new type of residential market which can be replicated in other cities.” Matteo Minardi, Head of Real Estate Italy, Ardian

“We are proud to launch this new investment vehicle with Ardian, which has chosen Investire SGR as partner for its first residential transformation project. Thanks to our proven track record and consolidated experience in redevelopment projects and urban regeneration, we further consolidate our leadership in the residential segment as a reference partner for international investors.” Alessandro Polenta, Managing Director, Investire SGR

List of participants

  • Participants

    • Legal, administrative and structuring Advisor: Gattai, Minoli, Partners
    • Environmental and Technical Due Diligence: Yard Reaas
    • Tax Advisor: Fivelex Studio Legale e TributarioNotary: Dario Cortucci
    • Notary: Dario Cortucci
    • Seller’s Advisor: Dils

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 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 part-owned by its employees and places 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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ONCAP Completes Investment in Biomerics and Significant Distribution for ONCAP IV

Onex

ONCAP today announced it has closed a significant investment into Biomerics and provided a material realization for investors in Precision Concepts including ONCAP IV. As part of the transaction, Biomerics has merged with the medical business of ONCAP IV’s current portfolio company, Precision Concepts (“Precision Concepts Medical”) including Precision Concepts Group of Winston-Salem, NC, which was acquired from the Marino family in April 2023. This investment has been made in partnership with Biomerics’ founder and CEO Travis Sessions, current Biomerics shareholder Wasatch Equity Partners, and the Marino family. Following this transaction, Precision Concepts will become a stand-alone pure-play consumer packaging company with a dedicated focus from the existing management team on growing both organically and through mergers and acquisitions (M&A).

The investment in Biomerics was made by a combination of ONCAP IV, ONCAP V and co-investors. With the completion of this transaction, Biomerics is the second investment for ONCAP V. Proceeds to Precision Concepts were used to repay debt and provide a significant distribution to shareholders, including ONCAP IV.

Following this transaction, Biomerics has over 1.2 million square feet of manufacturing space across 13 locations making it one of the Top 10 interventional contract development and manufacturing organizations globally. Biomerics supplies 22 of the top 35 medical device OEMs and is strategically focused on high growth end markets including structural heart, electrophysiology, robotic surgery, cardiovascular disease, and endoscopy. The merger furthers Biomerics’ fully integrated capability set and positions it to best serve its OEM customers. Going forward, Biomerics will be well-capitalized with significant capacity to continue to pursue strategic M&A.

The Precision Concepts management team, led by CEO Ray Grupinski, will continue to operate the consumer packaging business, which possesses strong EBITDA margins and an attractive growth profile. We believe this transaction helps to simplify and focus the remaining Precision Concepts business, better positioning it for a successful exit in the future.

About ONCAP

ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

Onex is an investor and asset manager that invests capital on behalf of Onex shareholders and clients across the globe. Formed in 1984, we have a long track record of creating value for our clients and shareholders. Our investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, insurance companies and family offices. In total, Onex has $51.1 billion in assets under management, of which $7.8 billion is Onex’ own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

About Biomerics

Founded in 1994, Biomerics is a leading medical device contract manufacturer serving the interventional device market. Trusted as a vertically integrated partner, Biomerics provides design and development services, technology transfer manufacturing services, and contract manufacturing services for medical device components, subassemblies, and finished medical devices. Biomerics operates eight locations in the United States, Ireland, and Costa Rica. Biomerics is industry leader in materials, interventional medical plastics, complex extrusion, micromachining of metals and polymers, laser processing, balloons & balloon catheters, advanced catheters & steerables, image guided intervention, and finished device assembly. In addition to operating under a certified ISO 13485:2016 quality system, Biomerics is FDA registered and compliant with FDA 21 CFR Part 820.

About Precision Concepts

Based in Mooresville, North Carolina, Precision Concepts is a diversified manufacturer of finished medical devices and specialty rigid packaging solutions (sticks, jars, vials, closures, spouts, bottles, tubes) serving the medical, pharmaceutical, personal care, food and beverage and nutraceutical industries. The company has ~1,700 employees with twelve manufacturing facilities located in Canada, the United States, Costa Rica, and the Dominican Republic.

Forward-Looking Statements

This press release may contain, without limitation, statements concerning possible or assumed future operations, performance or results preceded by, followed by or that include words such as “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of similar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertainties that may cause actual operations, performance or results to be materially different from those indicated in these forward-looking statements. Except as may be required by Canadian securities law, Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information:

Onex

Jill Homenuk

Managing Director – Shareholder

Relations and Communications

Tel: +1 416.362.7711

Zev Korman

Vice President, Shareholder

Relations and Communications

Tel: +1 416.362.7711

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