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EQT Infrastructure enters exclusive negotiations with DIF Capital Partners and PGGM to sell 50 percent of its stake in Saur

eqt
  • EQT Infrastructure enters exclusive negotiations with a consortium composed of DIF Capital Partners and PGGM to sell 50 percent of its stake in Saur, a leading provider of water services management solutions in France and internationally
  • Saur plays an essential part in the societies it operates in, fueled by its mission to protect and preserve water availability and quality, while minimizing discharge through efficient wastewater recycling
  • The broadened shareholder base adds new resources and expertise to support the continued long-term development of Saur’s pure-play water infrastructure platform

EQT is pleased to announce that the EQT Infrastructure III and IV funds (together, “EQT Infrastructure”) have entered exclusive negotiations to sell 50 percent of its stake in Saur (the “Company”) to a consortium composed of global infrastructure fund manager DIF Capital Partners and the Dutch pension fund service provider PGGM (together, “the Consortium”). The Consortium members will each acquire 25 percent of EQT Infrastructure’s shares.

Headquartered in Paris, France, Saur is a leading innovator and service provider in the global water sector, working alongside thousands of municipalities across the globe to deliver drinking water and collect wastewater for more than 20 million people. In addition, through its Industrial Water division, the Company provides integrated water infrastructure solutions to hundreds of international blue-chip customers. Saur is present in more than 20 countries and enjoys strong market positions with long-term contracts in France, Portugal, Spain, and the Middle East.

Since the acquisition by EQT Infrastructure in 2018, Saur has undergone a successful commercial and operational transformation along with a refocus on core activities and geographical growth. EQT Infrastructure has supported the launch of a new organizational structure, accelerated organic and inorganic growth through the completion of 15 add-on acquisitions, while supporting expansion to Portugal and North America. Moreover, EQT Infrastructure has helped develop the Company’s new Industrial Water division, while implementing an ambitious ESG strategy and digitalization roadmap.

EQT Infrastructure, DIF and PGGM are committed to investing in Saur’s long-term development, providing the necessary resources and expertise to secure stability and continuous growth over the coming years. Saur is set to continue its strategic 2030 agenda focused on reinforcing its core water infrastructure activities in France and Iberia, while accelerating organic and inorganic geographic expansion and further developing its Industrial Water Solution division.

For PGGM Infrastructure Fund this acquisition contributes to the overall ambition of PGGM to invest its client PFZW’s pension capital in such a way that good and stable financial returns are combined with positive social benefits that improve livability. At the end of Q3 2022, PGGM had invested EUR 44.9 billion in Sustainable Development Investments across different asset classes, of which EUR 1.52 billion has been in water-related investments (SDG 6) in different parts of the world.

Delivering returns responsibly is one of the goals of DIF’s investment and asset management strategy, and the envisaged investment in Saur perfectly fits in this approach. DIF already has a strong footprint in water and energy transition investments as part of the more than EUR 15 billion in assets that it manages.

Matthias Fackler, Partner within EQT Infrastructure’s Advisory Team, said, “In times of rising concerns around water scarcity, Saur is a critical pillar in the societies it operates in, providing local municipalities and their citizens with clean drinking water and efficient wastewater treatment. EQT Infrastructure is proud of Saur’s development so far and we now look forward to entering its next phase of growth journey together with our new partners PGGM and DIF Capital Partners”.

Patrick Blethon, Executive Chairman of Saur Group, said, “EQT Infrastructure has been and will continue to be our partner in the construction and execution of the group’s transformation and growth acceleration strategy, mobilizing its platform to serve our corporate project. Welcoming PGGM and DIF Capital Partners onboard alongside EQT Infrastructure represents a great opportunity for Saur to develop faster and stronger.”

Dennis van Alphen, Head of Infrastructure at PGGM, said, “In today’s investment environment it is more and more important that pension capital is invested not just for financial return but to make an active contribution to society’s challenges. The envisaged investment in Saur is a seamless fit with that strategy, providing communities and companies across the world with access to clean water. We are excited to embark on this journey with our partner DIF Capital Partners and EQT Infrastructure.”

Gijs Voskuyl, Partner and Head of Infrastructure at DIF Capital Partners, said, “DIF is very excited to partner with PGGM and EQT Infrastructure in this transaction in the water sector. Saur has a very sizable and largely concession-based position in the French and Iberian Peninsula water sector and has strong growth potential, especially in the industrial water space. DIF firmly believes in Saur’s management team and looks forward to jointly growing the company towards being a sustainable leader in the industry.”

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2023.

EQT Infrastructure was advised by Rothschild & Co. PGGM and DIF were advised by UBS.

Contacts

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
DIF Capital Partners, Thijs Verburg, t.verburg@dif.eu, www.dif.eu
PGGM Corporate Communications, Ellen Habermehl, ellen.habermehl@pggm.nl, +31 (0)30 277 97 35, www.pggm.nl

About EQT

EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Saur
As a pure player in water and essential services, Saur works to protect the environment in the heart of the territories it serves. Saur has always acted to offer the same quality of service to small towns as to large cities, guided by its purpose: to advocate that everyone gives water the value it deserves. Saur worldwide presence: Cyprus, Finland, France, Italy, Netherlands, Poland, Portugal, Saudi Arabia, Spain, United-Kingdom, United States of America. 2021 key figures: €1.7 billion Group net revenue, 9,500 local authorities and industrial clients contracted, 12,000 employees and 20 million consumers served worldwide. #missionwater

More info: www.Saur.com

About PGGM Investment Management
PGGM Investment Management is part of the Dutch not-for-profit pension fund service provider PGGM. It fulfills a social mandate: the sustainable investment of the pension capital of around three million participants in PFZW, the pension scheme for the Dutch health and welfare sector. On 30 September 2022, PGGM IM managed EUR 231 billion in public and private markets globally. With the capital entrusted to PGGM IM, it aims to not only generate good and stable financial returns but also to make a positive impact on society, focusing particularly on the themes of climate and health.

More information on PGGM IM: https://www.pggm.nl/media/ftfdyv5j/integrated-report-pggm-vermogensbeheer-b-v-2021.pdf

About DIF Capital Partners
DIF Capital Partners is an independent infrastructure fund manager with more than EUR 15 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 (including 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 200 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.

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CapMan Nordic Property Income Fund (non-UCITS) acquires a light industrial property with a public sector tenant, in Aarhus, Denmark

Capman

CapMan Real Estate press release
27 December 2022 at 10:15 EET

CapMan Nordic Property Income Fund (non-UCITS) acquires a light industrial property with a public sector tenant, in Aarhus, Denmark

CapMan Nordic Property Income Fund (non-UCITS) acquires a light industrial property with a public sector tenant, in Brabrand, Aarhus. The property is an excellent addition to the fund as it benefits from the growing demand for well-functioning light industrial space and is anchored by a municipal tenant on a long-term lease.

CapMan Nordic Property Income Fund (“CMNPI”) has acquired a light industrial property with a public sector tenant, in Aarhus, Denmark. The property, Sintrupvej 17-19, covers altogether c. 4,600 m2 of leasable space. It is located in Brabrand, Aarhus, a predominantly light industrial and logistics area with office and residential properties nearby. Brabrand is part of Aarhus municipality, just 7 km west of Aarhus city centre, which is accessible by car in approx. 15 min or by bike in 25 min and has easy access to public transportation. The asset is a multi-let property where the largest tenant is Aarhus Municipality on a long-term lease.

In addition to standard maintenance and refurbishments, CapMan plans to improve long-term sustainability of the property by investing in energy savings measures and is looking to certify the property in the future.

”We are very pleased about this addition to our income-focused fund. The Aarhus market for light industrial properties is experiencing great demand and this well-located and functional property is ideally positioned to benefit from this,” shares Peter Gill, Partner, Head of CapMan Real Estate Denmark.

”This is an excellent addition to the fund and to its growing warehouse portfolio, and also a demonstration of our local reach in the Nordics. Despite of a more challenging market there are opportunities to be found. Long-term income derived from a light industrial asset with a municipal tenant is a perfect fit for the fund,” shares Sampsa Apajalahti, Investment Director at CapMan Real Estate and Fund Director of CMNPI.

The property was acquired from Hermod Ejendomme A/S. The acquisition was secured and facilitated in cooperation with RUBIK Properties, a leading international operating partner in Denmark.

CapMan Nordic Property Income Fund is a non-UCITS active open-ended fund that distributes a minimum of 75% of its annual realized profit to its unit holders. The fund focuses on stable income generating properties such as light industrial and warehouse properties, modern offices, necessity-driven retail assets and niche properties in the living sector in most liquid Nordic cities with solid long-term growth fundamentals. The fund accepts new subscriptions on a quarterly basis and targets 7% annual net return.*

CapMan Real Estate currently manages approximately EUR 4.5 billion in real estate assets and the Real Estate Team comprises over 65 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

*Past performance is no guarantee for future returns.

For more information, please contact:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, peter.gill@capman.com, +45 20 43 55 63

Sampsa Apajalahti, Investment Director at CapMan Real Estate and Fund Director of CMNPI, sampsa.apajalahti@capman.com, +358 40 575 2363

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

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Partners Group to increase its stake in leading independent Swiss watchmaker Breitling

  • Partners Group Co-Founder Alfred Gantner will become Chairman of Breitling’s board
  • Breitling will remain under the leadership of CEO Georges Kern and his existing management team
  • Both Partners Group and CVC will continue to drive value creation at the Company

Partners Group, a leading global private markets firm, has agreed on behalf of its clients to increase its equity stake in leading Swiss watchmaker Breitling (or “the Company”) in a transaction that will make it the Company’s largest shareholder. CVC, Breitling’s current majority shareholder, together with its management team and other co-investors, will remain invested alongside Partners Group. Accordingly, Partners Group, CVC and the management team will continue to control Breitling following completion of this investment round.

Founded in 1884, Breitling is a leading Swiss watchmaker, with a unique heritage in the industry as the inventor of the modern wrist chronograph and distinctive positioning as a casual, inclusive, and sustainable luxury brand. Breitling’s product offering is centered around its three core themes: air, land, and sea. Its collections offer a distinctive modern-retro design style, which appeals to an increasingly broad consumer base globally. Since 2017, Breitling has emerged as a leading omni-channel luxury watch brand offering an unparalleled customer experience across both physical and digital channels.

The Company is poised for future growth supported by its differentiated brand positioning, wide product offering, and robust supply chain. Partners Group and CVC will continue working together with Breitling’s management team, under the leadership of CEO Georges Kern, to grow the business. Key value creation initiatives will include further pursuing an omni-channel strategy; continuing its geographic expansion; and launching new products harnessing the value of Breitling’s extensive back catalogue.

Following the transaction, Alfred Gantner, Co-Founder and Executive Member of the Board of Directors, Partners Group, will become Chairman of the Breitling board. He says: “After a fundamental transformation in the past five years, Breitling is building on its outstanding achievements and is now in a position to scale the business and become one of the world leaders in the watch industry. We are delighted to increase our stake in the Company. Breitling has a strong foundation for continued growth, with significant future value creation potential. In line with our entrepreneurial governance approach, we look forward to continuing our successful partnership with the management team and CVC.”

Georges Kern, Chief Executive Officer, Breitling, comments: “I am very happy that Breitling remains privately owned and independent. Breitling is well-positioned and has a proven strategy in place to capitalize on continued tailwinds in the luxury watch industry. We have a unique brand proposition with a long history in Swiss watch making, which is appealing to today’s modern luxury consumer. We are a preferred partner to retailers worldwide and are looking for continuity and stability in these established partnerships. Looking ahead, we are building our presence in key growth markets, and broadening Breitling’s collection to appeal to a diverse customer base. The support that Partners Group and CVC offers will continue to be extremely valuable as we continue on this journey.”

Daniel Pindur, Managing Partner at CVC and current Chairman of Breitling’s board, says: “We are proud of the fantastic development Breitling has made since we invested in 2017. Working closely with Georges and his team we have been able to transform the business into one of the world’s most dynamic and progressive luxury watch brands. We are convinced there is still plenty more to come, and we are delighted to continue driving the future growth of this iconic business alongside Partners Group.”

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Jollein and Mentha to work together to accelerate international growth

Mentha

Mentha is entering into a partnership with Jollein to enable further international growth. With the help of Mentha, the Dutch specialist in baby and toddler articles is entering a new growth phase in which Jollein envisions to strengthen its market share in existing regions and expand into other countries.

For 50 years, Jollein has been a specialist in ‘baby soft goods’ such as sleeping bags, footmuffs, blankets and cloths. The company, which, in addition to textiles, also offers wooden toys and tableware for toddlers up to approximately 6 years of age, is the market leader in the Netherlands and is now active in 41 countries. Jollein is known by almost all young mothers for its high quality range at affordable prices.

Over the past three years, Jollein has undergone strong professionalization and international growth, driven by the entrepreneurship of owners Wim and Marrit Smits, with support from, among others, Erwin Hammer as a board member.

“Although building a company is a continuous process, almost all facets of our company have improved – from systems to photography and from sales team to thematic work. At a certain point, the realization comes that you need new insights and people to grow further, so we started looking for a suitable partner for Jollein. We are convinced that Mentha, with its knowledge and expertise of the market and experience with internationally growing companies, is the right party to ensure further expansion for Jollein in the coming years”, says Marrit Smits.

Barend Rutten, partner at Mentha adds: “Jollein has developed into a powerful brand in an attractive market with numerous growth opportunities. We look forward to entering the next growth phase together with Erwin and the rest of the management team, supporting them with our knowledge and network within the sector.” With the acquisition of Jollein, Mentha is strengthening its position in the market for baby products, following its investment in Petite Amélie earlier this year.

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Change in ownership: The largest shareholder of LTP Group, a company that has reshaped food logistics, is changing – the Company continues to target strong growth

LTP Group, which has achieved strong growth with Vaaka Partners over the past few years, is changing ownership. LTP Group has accomplished the goals set for the joint journey between its founder Matti Tuominen, and Vaaka Partners. A majority stake in LTP Group will be sold to Sponsor Capital. LTP management will continue as significant shareholders together with Sponsor also post transaction. The company will continue its rapid growth by carrying on with its mission of ensuring that the products from food producers of all sizes can make their way to dining tables across Finland. This is achieved by uniquely efficient logistics solutions that help conserve the environment and save money.

LTP Group’s joint journey with Vaaka Partners has been a success. Over a period of six years, the company has tripled its net sales and profitability. Net sales will exceed EUR 70 million this year. LTP Group, which currently employs over 450 people, targets high growth also going forward.

– “We have reshaped food logistics by consolidating many small flows of goods into a single large flow in a manner that no other operator has previously managed to execute successfully. It is a model that benefits everyone: producers, retailers, restaurants, consumers, and the environment. I am confident that this recipe will continue to create growth going forward, both for our customers and ourselves,” says Matti Tuominen, founder and CEO of LTP Group.

Giving small and medium-sized producers access to the national market

LTP Group’s primary competitive advantage lies in its unique solution for the picking and consolidation of foodstuff. Instead of each producer’s foodstuff taking a separate route to shops and restaurants, LTP Group collects products on a customer-specific basis and consolidates smaller flows of goods from multiple producers into boxes and truckloads based on the needs of shops and restaurants.

Another source of competitive advantage for LTP Group is its comprehensive nationwide distribution network, which covers shops, commercial kitchens and restaurants throughout Finland. LTP’s combination of these two competitive advantages create a unique and efficient food logistics solution.

– Our volume is large enough that our routes cover even the most remote towns. Our nationwide coverage and volumes enable us to serve small food producers along the way. This gives small and medium-sized food producers the opportunity to join a larger logistics chain and sell their products to the national market, which would, otherwise, be difficult or impossible for many of them,” Tuominen explains.

Shops and restaurants, in turn, gain access to a diverse range of products from various producers, consolidated in a single delivery according to their needs. This allows them to provide their respective customers with a wide product range that also includes specialty products. It is a solution that benefits all parties.

Efficient logistics reduces the burden on the environment

An efficient logistics solution that consolidates products from many players also reduces emissions. The same amount of goods can be transported more efficiently packed, using fewer vehicles and driving fewer kilometres.

– “With Vaaka Partners’ support, we have invested in automation and data-driven performance management. This has made us highly cost-conscious in terms of both environmental costs and financial costs,” Tuominen adds.

The change in the majority shareholder will not lead to any significant changes in the day-to-day business for LTP Group’s customers and partners. The company will continue to implement its proven recipe for growth, and the familiar day-to-day operations will remain unchanged.

The completion of the transaction is pending approval of the Finnish Competition and Consumer Authority.

For more information, please contact:

Matti Tuominen, CEO, LTP Group
tel. +358 40 503 5905, matti.tuominen@ltplogistics.fi

Tuomas Siponen, Partner, Vaaka Partners
tel. +358 50 571 3767, tuomas.siponen@vaakapartners.fi

Sami Heikkilä, Partner, Sponsor Capital
tel. +358 50 352 8905, sami.heikkila@sponsor.fi

LTP Group in brief:

LTP Group is a pioneer in food logistics that includes LTP Logistics Oy, which specialises in in-house logistics and customer-specific product picking; Lännen Teollisuuspalvelu, which specialises in Transbox washing and pallet services; and LTP Cargo Oy, which focuses on delivery operations. Together, the companies offer flexible and customisable logistics solutions that include picking, warehousing and transport services. LTP Group operates throughout Finland. The companies have over 450 employees and their combined net sales exceed EUR 70 million this year.

Vaaka Partners in brief:

Vaaka Partners is an ambitious private equity company that helps medium-sized Finnish companies to become business champions. Current Vaaka champions include Framery, AINS Group, Cloudpermit and Staria, among others. The company is responsible for over EUR 0.6 billion of private equity funds. Vaaka’s approach combines strategic and operational expertise with trust-based collaboration. The largest investors in Vaaka funds are Europe’s leading pension funds.
www.vaakapartners.fi

Sponsor Capital in brief:

Sponsor Capital is a Finnish private equity firm founded in 1997. The firm makes mainly majority investments in Finnish mid-sized companies that have an excellent management, stable market position and predictable cash flow. Sponsor Capital operates responsibly and long term as well as in a strongly goal-oriented mode and believing in management’s entrepreneurial spirit. Large Finnish institutions invest their capital through Sponsor Capital.
www.sponsor.fi

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True Wind Capital and Elyan Partners Make Strategic Growth Investment in Envoy Global

Truewind

SAN FRANCISCO, PARIS, CHICAGO January 24, 2022 –True Wind Capital (“True Wind”), a San Francisco-based private equity firm focused on investing in leading technology companies, and Elyan Partners (“Elyan”), a member of the Edmond de Rothschild Private Equity partnership, today announced a growth investment in Envoy Global (“Envoy”), a leading, mission-driven provider of software and services solutions to the global business immigration market. True Wind and Elyan are partnering with Palladium Equity Partners (“Palladium”), affiliates of which acquired Envoy in September 2021 and which will remain the company’s largest shareholder.

Based in Chicago, Envoy is a leading provider of workforce management solutions that empower companies to hire the best talent regardless of where they live while enhancing transparency and efficiency for both employees and employers. The company serves nearly 1,000 customers, including many Fortune 500 companies, across a broad range of industries, such as technology, healthcare, and finance, with an emphasis on STEM workforce needs. Envoy leverages proprietary technology and expert legal representation to help simplify and assist highly skilled foreign nationals, HR professionals and enterprises with immigration filing processes and human capital business needs.

Sean Giese, a partner at True Wind who will join the board of Envoy as part of this transaction, said, “Envoy is a dynamic, market leading company with a compelling value proposition that has become an important resource for companies and employees navigating the increasingly complex global immigration process. We look forward to supporting the company by leveraging our proven capabilities in building and scaling technology businesses, and working alongside management and our partners, Palladium and Elyan, to accelerate growth.”

“We welcome True Wind and Elyan as partners as we continue to simplify global immigration compliance programs and the sponsorship and management of work authorizations in key markets around the world,” said Dick Burke, President and Chief Executive Officer of Envoy. “Importantly, True Wind and Elyan share our values and recognize the critical work we do every day for the coalition of cultures, ethnicities and nationalities hoping to maximize their opportunities and reach their potential.”

Alex Funk, Principal at Palladium, added, “As Envoy continues on its growth trajectory, we are glad to have True Wind and Elyan join us in supporting the management team. We believe True Wind’s operational approach and legacy of helping build and transform software businesses, coupled with Elyan’s deep international presence and global relationships, make them valued partners in our collective efforts to expand and enhance Envoy’s impressive platform and reach.”

Jean-François Felix, Managing Partner at Elyan, commented, “Envoy is uniquely positioned in the U.S. immigration services market with its innovative and market-leading solution for businesses. We look forward, together with our partners Palladium and True Wind, and with the support of the Edmond de Rothschild group’s deep European network, to helping Envoy expand its services outside the U.S. and particularly in Europe, where similar market complexities create a strong opportunity to assist international companies with their staffing needs and facilitate the onboarding of international talent.”

Orrick served as legal advisor to True Wind, Dechert served as legal advisor to Elyan, and O’Melveny and Myers served as legal advisor to Envoy and Palladium.

About True Wind Capital

True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind has a broad investing mandate, with deep industry expertise across software, data analytics, tech-enabled services, internet, financial technology, and hardware. Founded in 2015, True Wind has completed 11 platform investments and 20 add-on acquisitions. For more information, please visit https://www.truewindcapital.com.

About Envoy

Founded in 1998, Envoy is a global immigration services provider with an international footprint, working across offices in APAC, EMEA and the Americas. Envoy offers an immigration management platform that makes it seamless for companies to hire and manage an international workforce by combining expert legal representation — for both inbound and outbound immigration — and proprietary technology. Envoy empowers companies to acquire the best talent regardless of their global footprint; helps mobilize employees around the world to take advantage of business opportunities; and enables the management of entire global workforces, providing a strategic, proactive view into workforce and financial forecasting and compliance. Envoy has managed more than 30,000 cases and served more than 2,000 customers in a broad range of industries.

Website, technology platform and administrative services are provided by Envoy Global Inc., a Delaware corporation. U.S. legal services are provided by two U.S. law firms — Global Immigration Associates, PC and Corporate Immigration Partners, LLP. Global immigration services are provided by Envoy or Envoy’s global immigration service providers. All U.S. legal and global immigration services are fully integrated with the Envoy Platform for a seamless customer experience. Please visit www.envoyglobal.com for more information.

About Palladium Equity Partners, LLC

Palladium is the oldest minority-owned private equity buyout firm in the industry with over $3 billion of assets under management. The firm seeks to acquire and grow companies in partnership with founders and experienced management teams by providing capital, strategic guidance and operational oversight. Since its founding in 1997, Palladium has invested over $3 billion of capital in 38 platform investments and 148 add-on acquisitions, realizing 22 of these platform investments. The firm focuses primarily on buyout equity investments in the range of $50 million to $150 million. The principals of the firm have meaningful experience in consumer, services, industrials, and healthcare businesses, with a special focus on companies they believe will benefit from the growth in the U.S. Hispanic population. Palladium is based in New York City. For more information, visit www.palladiumequity.com.

About Elyan Partners and Edmond de Rothschild Private Equity

Elyan Partners is a member of the Edmond de Rothschild Private Equity partnership and is the exclusive financial advisor for the ERES (Edmond de Rothschild Equity Strategies) and Privilege funds, together totaling close to €1 billion in assets under management. Through a collaborative investment strategy with management teams and shareholders, Elyan is committed to supporting the sustainable growth of midcap companies in Europe and the United States.

Edmond de Rothschild Private Equity is an independent firm, part of Edmond de Rothschild Asset Management, with over CHF3 billion in assets under management. With an entrepreneurial approach to finance and backed by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social issues. Created in 1953, the Edmond de Rothschild group has CHF 168 billion in assets under management, 2,500 employees and 33 locations worldwide.

Media Contacts:

For True Wind Capital:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170

For Palladium Equity Partners:
Todd Fogarty/Jeffrey Taufield
Kekst CNC
todd.fogarty@kekstcnc.com/jeffrey.taufield@kekstcnc.com

For Elyan Partners and Edmond de Rothschild Private Equity:
Laura Barkatz
Steele & Holt
+336658255414
laura@steeleandholt.com

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EURAZEO to invest in BMS Group, a high growth independent (RE)Insurance broker, alongside BCI, PCP and Management

Eurazeo

Eurazeo, through its Mid-large buyout team1 and its affiliates, to invest up to £355m in BMS Group and acquire up to 34% of its share capital. Eurazeo and its affiliates will join BMS alongside its existing shareholders British Columbia Investment Management Corporation (BCI), Preservation Capital Partners (PCP) and BMS’ management and employees. Eurazeo and BCI together will be majority shareholders of the Company for its next phase of growth. Completion of the transaction is subject to obtaining relevant regulatory approvals.

Definitive financial information will be disclosed once the transaction has been completed.

Established in 1980, BMS is a leading independent (re)insurance broker delivering comprehensive, customised solutions in the field of wholesale, reinsurance and retail insurance as well as capital markets advisory services. Headquartered in London, BMS benefits from a strong reputation for placement of large and complex risks and operates across 14 countries with 28 offices around the world (US, Canada, Latin America, Australia, Europe and Asia).

BMS represents Eurazeo’s latest investment in financial services, one of its four key sector of focus. Eurazeo, BCI and PCP will support, Nick Cook, CEO of BMS, and the rest of the BMS senior management team to pursue its proven growth strategy. In the period 2019 to 2022, revenues at BMS have increased from c.£100m to more than £250m, while staff numbers have risen by nearly 75% to c.900 people globally. The investment from Eurazeo and other shareholders is expected to enable BMS to further expand as a global independent specialty (re)insurance broker by growing its foothold internationally both organically and through an active M&A strategy.

EURAZEO’S DEEP EXPERTISE IN FINANCIAL SERVICES

With over €2.5 billion invested in financial services in over 30 companies across all stages of their lifecycle, Eurazeo has developed a strong expertise in this sector with over 30 global investment professionals across strategies (Venture, Growth and Buyout). Eurazeo’s unique “investment flywheel” has led to deep industry knowledge and key relationships across the financial services sector. The specialty insurance segment has been a key focus for Eurazeo, with existing investments such as Albingia (commercial P&C specialty insurer) and Descartes Underwriting (MGA focused on specialty risks).

Marc Frappier, Member of the Executive Board, Managing Partner of Mid-large buyout, commented:

“Our “investment flywheel” operates across the entire Eurazeo group, accelerating and enhancing our sourcing, due diligence and value creation activities in our core sectors, notably financial services. We offer a rare combination of deep sector expertise, global presence and collaborative culture to support successful businesses, like BMS, and their management team achieve their global growth ambitions”.

Maxime de Bentzmann and Eric Sondag, Managing Directors – Mid-large buyout, said:

“We have been exploring specialty insurance and reinsurance markets for some time and we are impressed by BMS’ growth trajectory over the recent years including significant expansion of its US Reinsurance business segment. Together with our powerful international network, we are convinced that the Group has tremendous potential across the globe both organically and through M&A”.

Nick Cook, BMS CEO, stated:

“The Eurazeo DNA focused on culture, agility and global ambitions resonates strongly with BMS values, making Eurazeo a clear partner of choice for our next stage of growth. We are excited to partner with them and leverage their deep sector expertise and transformational growth experience”.

——————–

1 Part of the Eurazeo Mid Cap Company

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Gimv invests in the energy transition and critical infrastructure in Germany and announces a partnership with Rohrleitungsbau Münster

GIMV

Topic: Investment

Gimv invests in Rohrleitungsbau Münster GmbH & Co. KG (www.rohrleitungsbau-muenster.de), an engineering, construction as well as maintenance and servicing company for pipeline and cable networks. In partnership with Gimv, Rohrleitungsbau Münster aims to sustainably grow its activities in the repair and maintenance of outdated infrastructure as well as its modernisation and expansion. Headed by managing directors Udo Kiewel and Markus Warmuth, the management team will take a stake in the company as part of the transaction.

Gimv’s goal is to build a complete service provider for the expansion, repair and maintenance of pipeline and cable networks in various supply media, investing both in employees and technology as well as regional expansion. Rohrleitungsbau Münster is a reliable partner to utilities, municipalities and industry. Aside from engineering and the expansion of infrastructure networks, Rohrleitungsbau Münster concentrates its efforts on recurring and local network maintenance, repair and servicing. Thanks to a high level of certification, a broad portfolio, technical expertise and an entrenched network of customers with strong regional ties, the company enjoys an excellent reputation for quality, safety, flexibility and technical competence – criteria that are very important to customers, which are primarily municipal and regional utilities. This has enabled Rohrleitungsbau Münster to develop an extensive, recurring customer base over recent decades.

Uwe Giebelstein, founder and former shareholder of Rohrleitungsbau Münster, notes: “With Gimv, we are delighted to have found a reliable and financially strong partner for the company’s continuation, who is eager to further develop Rohrleitungsbau Münster. Employees and customers alike will benefit from this growth.”

Commenting on the opportunities for the future, Udo Kiewel adds the following on behalf of the management of Rohrleitungsbau Münster: “Together with the entire workforce and the existing management team, we look forward to the future with confidence. Together with Gimv, we will implement our joint growth vision based on long-term added value, reliability and the highest quality standards. We will invest in modern technology whilst creating new jobs and further growth enabling us to offer additional services to our customers with the high level of quality and reliability they have come to expect.”

“The market for pipeline construction and cabling laying is characterised by strong growth trends and energy transformation in Germany, which we intend to shape with our Sustainable Cities platform. The energy transition, nationwide broadband expansion and recurring conservation measures of outdated network infrastructure increase the demand for competent and reliable providers with relevant permits, such as Rohrleitungsbau Münster. We are looking forward to this collaboration in order to drive forward Rohrleitungsbau Münster’s further growth” explains Maja Markovic, Partner at Gimv and responsible for the DACH region’s Sustainable Cities Platform

This participation will become part of Gimv’s Sustainable Cities platform, which focuses on sustainability over various different sectors as well as B2B services. This transaction is subject to the usual conditions, including approval by the competition authorities. Further financial details have not been disclosed.

 

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Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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CapMan Special Situations invests in Aro Systems

Capman

CapMan Special Situations press release
23 December 2022 at 09:15 EET

CapMan Special Situations invests in Aro Systems

CapMan Special Situations invests in Aro Systems, a building technology services contractor. The objective is to develop the company as a frontrunner for energy efficient solutions in new development and renovations.

Aro Systems is one of the leading electrical and HVAC project service contractors and technical building service and maintenance providers in Finland. Founded in 1954, the company has successfully expanded under Aro family ownership. Aro Systems employs close to 350 professionals in the field of building technology in the Helsinki metropolitan area as well as in the Tampere and Oulu regions. In addition to installation services for demanding projects, the company delivers solutions that improve energy efficiency.

CapMan Special Situations fund becomes the majority owner in Aro Systems following this arrangement, while Aro Yhtiöt maintains significant ownership. In conjunction, a new Board of Directors will be established with Panu Routila, advisor for the CapMan Special Situations fund, to step up as Chairperson of the Board. Mika Huovinen will continue as the company’s CEO.

“The building technology market is growing and undergoing rapid transition. Aro Systems is well-positioned as a sustainable service provider and one of the frontrunners in energy efficient solutions. This transaction enables the acceleration in growth of the company’s maintenance service business as well as further development of contracting service processes,” says Antti Uusitalo, Partner at CapMan Special Situations.

“The involvement of CapMan supports our company’s profitable growth and development and is excellent news for our customers, employees and the business overall. Customer focus, service quality and an entrepreneurial spirit have guided us for almost 70 years. In the past few years, we have undertaken a rigorous renewal of the company. Together with the expertise provided by CapMan, we can accelerate the company’s profitable growth and improve its competitiveness,” says Paavo Aro, the Chairperson of Aro Yhtiöt.

The investment in Aro Systems is the fourth of the CapMan Special Situations fund.

The completion of this transaction is subject to approval by the Finnish Competition and Consumer Authority.

For more information, please contact:

Antti Uusitalo, Partner, CapMan Special Situations, +358 40 020 2663

About CapMan Special Situations

CapMan Special Situations pursues event-driven investment situations by providing flexible capital solutions and strong operational capability to deliver step-change performance improvements.

CapMan Special Situations is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and approx. €5 billion in assets under management. Our objective is to pro,vide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Aro Systems

Aro Systems Oy is one of the leading providers of building technology expertise and services with close to 70 years of experience. Together with close to 350 professionals, the company is building a better environment for living and working. The company’s services encompass the entire life cycle of properties and building technology services in new construction and renovation projects. The company is established in the Helsinki metropolitan area as well as the Tampere and Oulu regions.

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Ardian acquires Milan office building in Via Vespucci 2, Porta Nuova district

Ardian

22 December 2022 Real Estate Italy, MILAN

The building will be transformed to meet Grade A Green+ and Net Zero Energy standards in line with Ardian Real Estate’s team commitment to ESG

Ardian, a world-leading private investment house, has finalized the acquisition of a Milan-based office building from a real estate fund managed by InvestiRE Sgr S.p.A. (Banca Finnat Group) through a co-investment vehicle with Primonial REIM France.

The property is located on Amerigo Vespucci 2 street in the heart of Milan’s Porta Nuova district. The building consists of approximately 12,300 sqm of floor space across for a total of 11 floors – of which nine are above ground.

The property is mainly vacant and will benefit from a major investment and redevelopment plan to transform it into a Grade A Green+ building. This certification is one of the highest sustainability rankings available for minimizing consumption and emissions. As part of the redevelopment, it will also become a Net Zero Energy Building.

“Ardian will invest heavily in transforming this property through a ‘Build-to-Green+’ strategy. As part of the development, we will work in accordance with the terms of the Paris Agreement to minimize CO2 emissions during construction and over the building’s lifetime. We have already launched a design competition inviting some of the most prestigious international studios to submit plans for the building. Our goal is regenerate an important part of the city by creating an attractive place to live for the local community and turning this iconic building into a pioneering example of sustainable redevelopment. “ Matteo Minardi, Managing Director, Ardian

” Even in a difficult geopolitical and macroeconomic climate, Ardian is continuing to invest in strategically located assets in the Italian real estate market. As a result of the Covid-19 pandemic and amid the energy transition, we have seen a shift in demand towards higher quality assets aligned to international ESG standards. Ardian’s strategy is to respond to this market trend by delivering high-performing and sustainable assets.” Rodolfo Petrosino, Senior Managing Director, Ardian

Advisor

  • Ardian

    • Legal: Ashurst
    • Fiscal: 5Lex
    • Administrative law: Gattai, Minoli, Partners
    • Technical aspects: Yard Reeas, General Planning
    • Notary office: Milano Notai
    • Commercial due diligence: JLL

  • Seller

    • InvestiRE SGR S.p.A

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $140bn 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 and family offices 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. Our 1000+ employees, spread across 15 offices in Europe, the Americas and Asia, 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.

www.ardian.com

Press contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com  

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