Category Archives: News

Apollo Funds and Vitol Announce WattEV Financing Partnership

Apollo logo

NEW YORK, HOUSTON and LONG BEACH, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Vitol today announced that Apollo-managed funds (the “Apollo Funds”) and Vitol have agreed to provide a structured debt and equity financing to WattEV (“WattEV” or the “Company”), an industry leader in heavy-duty freight electrification providing end-to-end solutions to customers through the development of electric charging infrastructure and provisioning of electric vehicle trucks.

Based in Long Beach, California, WattEV benefits from a first-mover advantage in the medium- and heavy-duty electrification space and operates the largest heavy-duty public access electric charging site by capacity in the U.S. at the Port of Long Beach. The Company will seek to provide a solution for the more than 30,000 heavy-duty drayage trucks in California that must comply with near-term regulations to eliminate emissions, while over time facilitating the electrification of heavy-duty vehicles across the country more broadly. New financing from the Apollo Funds and Vitol will help WattEV fund the development of its near-term truck charging depots throughout California, including locations in warehouse districts in nearby Gardena, San Bernadino, and Bakersfield.

Salim Youssefzadeh, Co-Founder and CEO of WattEV, commented, “By providing the infrastructure, supplies and services to move freight and help fleets transition to cleaner electric energy, WattEV is able to help customers achieve meaningful decarbonization benefits while providing an efficient, effective and economical solution for shippers and carriers across the country. With the support of the Apollo and Vitol teams, we believe we are well positioned to scale our operations and make meaningful change towards a greener future.”

Apollo Partner Joey Romeo said, “With a differentiated business model, first-mover advantage and significant tailwinds supporting the Company’s trajectory, we believe WattEV is poised to capture a significant share of the high-growth EV fleet charging sector. We are excited to partner with Vitol on this financing to help accelerate the Company’s growth and look forward to working with the WattEV team to help the Company execute on its mission to accelerate the heavy-duty trucking industry’s transition to all-electric transportation.”

“With 1.2 GW of operational renewable generation capacity and over $2.2 billion committed to renewable and sustainable investments, Vitol is focused on building an energy business for the future,” said R. Andrew de Pass, Head of Renewables and Sustainability Investments at Vitol. “WattEV’s leadership in using distributed energy resources with solar and battery storage to support the growth of clean freight transportation is aligned with our commitments to clean energy and zero emission transport,” de Pass said.

The transaction underscores Apollo’s commitment to driving a more sustainable future and long track record of investing in or lending to companies supporting the energy transition. Last year, Apollo launched its Sustainable Investing Platform, which targets the deployment of $50 billion in clean energy and climate capital by 2027 and sees the opportunity to deploy more than $100 billion by 2030. Over the last five years, Apollo Funds have deployed over $23 billion1 into energy transition and sustainability-related investments, supporting companies and projects across clean energy and infrastructure, including offshore and onshore wind, solar, storage, renewable fuels, electric vehicles as well as a wide range of technologies to facilitate decarbonization.

Like Apollo, Vitol has a strong legacy of investing in companies driving forward the energy transition and pursuing decarbonizing technologies, from its sustainable transport company VGMobility, which delivers e-fleet solutions in South America to battery swapping solution provider, Sun Mobility in India.

Marathon Capital served as financial advisor to WattEV on the transaction.

About WattEV
WattEV’s mission is to accelerate the transition of U.S. trucking transport to zero emissions. It relies on a combination of business and technology innovations to create charging infrastructure and data-driven workflow that provide truckers and fleet operators the lowest total cost of ownership. WattEV’s goal is to get 12,000 heavy-duty electric trucks on California roads by the end of 2030, exceeding existing forecasts. More information is available online at www.WattEV.com.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

About Vitol
Vitol is a global leader in the energy sector with a presence across the spectrum: from oil through to power, renewables and carbon. We trade and distribute energy safely and responsibly around the world using our logistical expertise and infrastructure network. Vitol’s clients include national oil companies, multinationals, leading industrial companies and utilities. Founded in Rotterdam in 1966, today Vitol serves clients from some 40 offices worldwide and is invested in energy assets globally, including 17 m m3 of storage globally, circa 500 k b/d of refining capacity, more than 7,000 service stations and a growing portfolio of transitional and renewable energy assets. Revenues in 2022 were $505 billion. For more information: www.vitol.com

WattEV Contact
Michael Coates
media@wattev.com
(408) 399-9081

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

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

Vitol Contact
Andrea Schlaepfer
Head of Corporate Affairs
+44 (0)7525 403796
acs@vitol.com

1 As of December 2022. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) purchase price on the settlement date for private non-traded debt; (ii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iii) total capital organized on the settlement date for syndicated debt; and (iv) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.


Primary Logo

Source: Apollo Global Management, Inc.

Released November 8, 2023

Categories: News

Tags:

AEG and Onex Partners Announce Agreement to Sell Ownership Interest in ASM Global

No Comments
Onex

AEG, the world’s leading sports and live entertainment company, and Onex, a leading investor and alternative asset manager, today jointly announced that AEG and Onex Partners have signed a definitive agreement to sell their entire ownership interest in ASM Global (“ASM”), a global leader in third-party venue and event management, to Legends, a global premium experiences company. The financial terms of the transaction were not disclosed. Read the acquisition announcement here.

“Today’s announcement is the culmination of the journey AEG and Onex embarked on in early 2019 when we completed the merger of AEG Facilities and SMG to form ASM Global,” said Dan Beckerman, President, and Chief Executive Officer of AEG. “Our purpose has been clear from the start – to drive ASM’s growth and create significant value for ASM and its clients. Despite the tremendous impact of the pandemic, we were able to unlock substantial business value over the past four years with ASM growing both its revenues and global portfolio.”

“This transaction will allow us to focus on the continued growth of AEG’s core businesses, including our owned and operated real estate and venues and our live entertainment and ticketing business,” said Ted Fikre, Vice Chairman and Chief Legal and Development Officer of AEG. “AEG has enjoyed our successful partnership with Onex and, while we will no longer be an owner in ASM, we look forward to continuing to work with the company and its talented leadership team as they pursue ongoing success under the stewardship of Legends as the new owner.”

Kosty Gilis, Managing Director at Onex Partners, commented “We are extremely grateful to the entire ASM leadership team for their unwavering dedication to positioning the business for success, in particular during the unparalleled operating environment they faced during the pandemic, which has allowed ASM to recover so strongly and have great long-term prospects. We would also like to thank AEG who have been wonderful partners consistent with their impeccable reputation in the marketplace.” Amir Motamedi, Managing Director at Onex Partners, added “We believe ASM is being acquired by an outstanding company in Legends who will take the business to new heights. We wish them much success in the coming years as they continue to grow the business and serve customers globally.”

ASM Global manages a portfolio of live event entertainment venues worldwide and provides best-in-class venue management and operation services. With clients spanning five continents, ASM Global operates venues that serve live events for more than 164 million guests annually. Legends provides a complementary offering of hospitality, venue planning and project management, premium sales, sponsorship, and merchandise services to many of the world’s most iconic sports, entertainment, and attractions brands.

The transaction, which remains subject to regulatory approvals, is targeted to close in 2024.

About AEG

Headquartered in Los Angeles, California, AEG is the world’s leading sports and live entertainment company. The company operates in the following business segments:

Music through AEG Presents, which is dedicated to all aspects of live contemporary music performances, including the production and promotion of global and regional concert tours, an extensive portfolio of clubs, theaters and other music venues, concerts and special events and world-renowned festivals such as the Coachella Valley Music and Arts Festival;

Venues and Real Estate, which develops, owns and operates world-class venues, as well as major sports and entertainment districts like Crypto.com Arena and L.A. LIVE, Mercedes Platz in Berlin and The O2 in London;

Sports, as the world’s largest operator of high-profile sporting events and sports franchises including the LA Kings, LA Galaxy and Eisbären Berlin;

and Global Partnerships, which oversees worldwide sales and servicing of sponsorships including naming rights, premium seating, and other strategic partnerships.

Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 160 million guests annually. More information about AEG can be found at www.aegworldwide.com.

About Onex

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. Onex’ two primary businesses are Private Equity and Credit. In Private Equity, we raise funds from third-party investors, or limited partners, and invest them, along with Onex’ own investing capital, through the funds of our private equity platforms, Onex Partners and ONCAP. Similarly, in Credit, we raise and invest capital across several private credit, public credit and public equity strategies. 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 $49.5 billion in assets under management, of which $7.9 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.

Onex is listed on the Toronto Stock Exchange under the symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedarplus.ca.

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

AEG Worldwide

Categories: News

Tags:

Ardian Acquires $2.1 Billion Private Equity Portfolio from CPP Investments

Ardian

Underscores Ardian’s position as a world leader in secondary buyout funds

Ardian, a world-leading private investment house, today announced it has acquired a US$2.1 billion portfolio of limited partnership interests in 20 private equity funds from Canada Pension Plan Investment Board (CPP Investments™), a global investment management organization with C$575 billion of assets under management. The portfolio comprises 20 limited partnership interests, a majority of which are North American but also includes European buyout funds.

The deal continues Ardian’s secondary funds strategy to provide active portfolio management solutions to large institutions looking to rebalance their portfolios and monetize their private equity investments. Ardian has the world’s largest Secondaries and Primaries platform with more than $89 billion under management or advisement. Over the last four years, Ardian has deployed more than US$40 billion in secondary private equity investments.

“This latest acquisition comes at a significant time for the industry where many LPs continue to address the denominator effect and are looking for portfolio management opportunities like this to open up capital for future commitments. We have acquired a portfolio of well-diversified North American and European buyout funds led by high-quality GPs who we know well.” Mark Benedetti, Member of the Executive Committee, Co-Head of Ardian US, Co-Head of Secondaries & Primaries and Member of the ASF Management Committee, Ardian

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 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

THE NEIBART GROUP MAEVE MALONEY

ardian@neibartgroup.com+1 781 987 4287

Categories: News

Tags:

Ardian and Prelios SGR complete sale of Milan office building at the Milanofiori Business Park

Ardian

The building has undergone major renovation, including the complete renewal of most spaces across its six floors
• The property reached 100% occupancy as a result of the improvements, attracting leading tenants

Ardian, a world-leading private investment house, and Prelios SGR, one of Italy’s most important real estate and securities asset management companies, have completed the sale of an office building located at the Milanofiori Business Park in Milan’s Assago district to Inovalis, a major French real estate investment manager.

The transaction was conducted through a closed-end investment company (SICAF) wholly owned by Ardian and managed by Prelios SGR.

The building has a commercial area of approx. 18,000 sqm and 125 parking spaces. It consists of 6 floors for executive use, 1 ground floor with two food & beverage units serving the tenants, and a basement floor providing parking and archive facilities. The building is located in Milan’s Milanofiori Business Park, a mixed-use real estate complex including offices, residential properties, shops, a multi-screen cinema, hotel, fitness centre and university campus in the south-west of Milan. The area is strategically connected to the rest of the city via the M2 metro line, which provides access to the city’s three main railway stations (Garibaldi, Centrale and Cadorna), and is a 20-minute drive from Linate international airport.

Ardian and Prelios SGR completed major renovation plan on the property between 2018 and 2021. This included a total renovation of the spaces not yet leased and the complete redevelopment of the ground floor. A new double-height lobby was added to the building, alongside the refurbishment of the common areas. The maximum capacity of the floors was also increased. The building has obtained BREEAM certification.

The redevelopment has boosted rental activity and increased occupancy in the building, attracting leading national and international companies which have rewarded the quality level of the property compared to other buildings in Business Park. As a result, occupancy has increased from 51% at the time of purchase in 2017 to 100% today.

“While some parts of the office market outside of city centres have faced challenges in recent months, the redevelopment and extensive improvements completed on this property have seen it reach full occupancy and attract leading international tenants. This highlights the strong demand from the market for Grade A space and Ardian’s ability to enhance the value of its real estate assets. The sale of the property to Inovalis is an excellent signal for the market and demonstrates how Grade A office space with excellent tenant covenants continues to attract interest from institutional investors”. Matteo Minardi, Head of Real Estate Italy, Ardian

“We are pleased to have completed the renovation, improvement and sale of the Assago property, which included the significant improvement of the building’s rental profile and sustainability credentials. Against the current market backdrop, this transaction reiterates Prelios SGR’s experience in implementing targeted asset management that helps to improve quality and attractiveness for international investors. We are particularly proud to have created value for Ardian through this process”. Nicola Sajeva, Director Asset&Development Management, Prelios SGR

Savills acted as commercial advisor for the transaction. Ardian and Prelios SGR were supported by Studio Legale Gattai, Minoli, Partners as legal and tax advisor. CBRE acted as technical advisor.

ABOUT ARDIAN
Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com
ABOUT PRELIOS SGR
Prelios SGR is part of the Prelios Group and is one of the leading asset management companies in Italy. The company is active in the promotion, establishment and management of real estate and credit alternative investment funds, advisory and management of separate accounts, on behalf of leading Italian and international institutional investors. Prelios SGR plays a pioneering role in the innovation of investment products, both in terms of asset classes and types, including the management of one of the first heterogeneous SICAFs, and the largest UTP fund in Italy and among the largest in Europe. Prelios SGR has developed high standards and control systems in terms of governance, risk management and transparency, while maintaining operational flexibility. The Company is also committed to the promotion of sustainability values, as demonstrated by its adherence already in 2019 to the UN PRI – Principles for Responsible Investment and, from 2020, to the GRESB.

prelios.com
PRESS CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

Categories: News

Tags:

PERBILITY acquires BEGIS, backed by Main Capital

Main Capital Partners

PERBILITY announced its strategic acquisition of BEGIS, a leading digital HR document specialist based in Berlin, Germany.

Today, PERBILITY announced its strategic acquisition of BEGIS, a leading digital HR document specialist based in Berlin, Germany. This acquisition is a significant milestone in PERBILITY’s ongoing commitment to delivering comprehensive and innovative HR solutions to mid-sized companies in the DACH region. The acquisition of BEGIS marks the second acquisition for PERBILITY following last year’s acquisition of Concludis.

BEGIS, with its headquarters in Berlin and a dedicated team of over 60 employees, is recognized for offering a robust cloud-based software suite tailored for modern HR management. This suite encompasses essential HR functionalities such as digital personnel file management, workflow automation, corporate communications, and more

PERBILITY, on the other hand, has established itself as a leading provider of cloud-based HR software solutions, serving over 1.500 customers across the German-speaking region. The cornerstone of PERBILITY’s offerings is the Helix platform, which provides efficient and cutting-edge solutions for talent acquisition, employee development, and digital HR administration.

PERBILITY’s strategic acquisition of BEGIS is an important milestone in PERBILITY’s ongoing commitment to provide comprehensive and versatile HR solutions. The integration of BEGIS’ expertise in digital HR management will provide an unmatched suite of tools and services designed to streamline HR processes, increase operational efficiencies and help companies succeed. With more than 180 employees in five locations, the PERBILITY Group is able to provide a comprehensive HR offering and consolidate its position as a market leader for small and medium-sized enterprises.

Andreas Meck, CEO of PERBILITY, comments: “We are excited to welcome BEGIS into the PERBILITY family. This strategic acquisition perfectly aligns with our commitment to empowering businesses with cutting-edge HR solutions”

Abdülvahit Besir, CEO of BEGIS, adds: “Linking PERBILITY’s comprehensive HR suite with BEGIS’ solutions is a perfect match and will provide significant value to both new and existing customers”

Main Capital Partners partnered with PERBILITY in December 2020. “We are delighted to accompany PERBILITY in its next growth step. The strategic and highly synergetic combination of PERBILITY and BEGIS opens up entirely new growth opportunities by offering an integrated market-leading HR suite coupled with best-in-class digital personnel file management and HR workflow automation,” concludes Yves Souren, PERBILITY’s Chairman of the Supervisory Board and Investment Director at Main Capital Partners.

We are delighted to accompany PERBILITY in its next growth step.

– Yves Souren, PERBILITY’s Chairman of the Supervisory Board and Investment Director at Main Capital Partners.

About

PERBILITY

  • Human resource software solutions

PERBILITY is a leading, cloud-based provider of modern HR software solutions in the German-speaking region. The award-winning software solutions are used by more than 1.500 companies nationwide. HELIX is the tool of choice to facilitate the daily challenges of HR managers through the use of innovative concepts for modern personnel management. Next to the core HELIX platform, PERBILITY also provides a wide range of features in recruiting, employee feedback systems, as well as e-learning, all under one roof and fully integrated as one modern suite. The company, which was founded in 2009 employs more than 120 people and is headquartered in Bamberg, Germany.

BEGIS

  • Workflow automation

BEGIS was founded in 1997 in Berlin, Germany. With more than 60 employees, BEGIS offers a cloud-based solution for companies to manage digital employee files, workflow automation, and corporate communications. The company sells its industry-agnostic products primarily to medium-sized companies in the German-speaking area. The company has a particularly strong presence in the financial serv

Categories: News

Tags:

Sunstone Life Science Ventures joins EUR 57 Million Series A Investment in Kynexis to Advance Development of Novel Therapeutics for Cognitive Disorders

Sunstone Life Science

Copenhagen, Denmark, November 7th 2023 — Sunstone Life Science Ventures (Sunstone), a leading
Nordic venture capital firm, is excited to announce its participation in a EUR 57 million Series A
funding round for Kynexis B.V., a pioneering biotech company dedicated to advancing treatments for
cognitive impairment associated with schizophrenia. Jacob Lange Moresco, Investment Director with
Sunstone, will be joining Kynexis’ board of directors as part of this investment.

This significant funding round was led by European investor Forbion alongside Ysios Capital and
Sunstone. The financing will support Kynexis’ innovative approach, which combines cutting-edge
patient selection methods with a deep understanding of the genetic links underlying their lead
molecule’s mechanism of action. The unique combination of strategies holds the promise of not only
improving the effectiveness of treatment but also personalizing it to individual patients, a crucial
advancement in the field of mental health therapeutics.

The lead program, KYN-5356, is designed to regulate kynurenic acid levels in the brain and in turn
address the cognitive impairment often associated with schizophrenia, a debilitating condition that
affects millions of individuals worldwide. Cognitive impairment can significantly hinder the quality of
life for those living with schizophrenia, making this research a critical area of focus for the medical
community.

Kynexis’ leadership team holds extensive experience in psychiatry, neurology and drug discovery and
includes CEO Kees Been, CMO Jens Wendland as well as Executive Chair Peter Høngaard Andersen.
Jacob Lange Moresco expressed his enthusiasm about this investment and his role on Kynexis’
board, stating, “We believe that Kynexis’ approach to addressing cognitive impairment associated
with schizophrenia has the potential to transform the lives of countless individuals and their families.
We are thrilled to support this world-class team and their important work towards better
therapeutic options for individuals living with mental illness.”

About Kynexis
Kynexis is advancing precision therapeutics for brain diseases by taking a biomarker-based approach
to advance a potential first-in-class treatment for cognitive impairment associated with
schizophrenia (CIAS). By harnessing large data to identify and stratify patients based on the
underlying causal human biology of the disease, Kynexis is targeting KAT-II, a key enzyme in the
kynurenine pathway. The company’s lead candidate, KYN-5356, is a first-in-class small molecule that
is potent and highly selective for KAT-II. The Company also has a subsidiary in the United States and
a Massachusetts office in Cambridge. (Kynexis Therapeutics Inc.).

About Sunstone Life Science Ventures
Sunstone Life Science Ventures is an independent European venture capital investment firm
founded in 2007 by an international team of industry experts with combined entrepreneurial,
operational and financial experience. Managing total funds of €500 million, Sunstone focuses on
developing and expanding early-stage Life Science companies with strong potential to achieve global
success in their markets. Since inception, Sunstone has invested in more than 60 companies, and has
completed more than 25 successful IPOs and large M&A transactions.
For more information about Kynexis, please visit kynexistx.com
For more information about Sunstone, please visit sunstone.eu

Categories: News

Tags:

Nordic BioSite Group announces acquisition of LubioScience & name change to Europa Biosite

Adelis Equity

Established in 1997, Nordic BioSite was founded with the ambition to be the leading Nordic distribution partner of premium reagents for life science research use. Four years ago, following the successful penetration of the Nordic market, their commercial ambition was broadened to become the leading life science distributor in Europe. Nordic BioSite Group has since increased sales x5 through high organic growth and yearly best-in class acquisitions.

Today we are delighted to announce our latest acquisition, LubioScience, in Switzerland. As the fastest growing life science distributor in Switzerland, LubioScience is an excellent addition to our Group and an important step towards our ambition to provide exceptional distribution services across Europe.

In recognition of our geographical expansion, we are ready to progress to a new name that is more reflective of our growth and future ambitions. Effective from today, Nordic BioSite Group will be known as Europa Biosite. Europa Biosite is a name that reflects our aspirations to be the leading site for life science products within Europe. Looking to the future, we aspire to further develop our success across Europe through additional industry-leading acquisitions and continued high organic growth. New website to be launched October 2023.

“Switzerland is a key research hub in Europe and hence we have been eager to be present there to help existing and new suppliers gain access to this fast-growing market. LubioScience has been #1 on our target list for a long time as we have been impressed with the success they have had in the Swiss market. I am sure there are many things we can learn from their success to replicate within the Group, just like we can transfer our commercial and operational best practices to LubioScience” says CEO Sune Schmolker. Dr. Tobias Dietschy and Dr. Daniel Auerbach will continue working at LubioScience, and comment in a shared statement on the deal: “The consolidation of the European life science distribution market will generate value for suppliers and customers, and we see an exciting future for LubioScience as part of the fastest growing pan-European group of distributors within our industry”.

The parties have chosen not to disclose the financial terms of the transaction.

For further information:

Europa Biosite: Sune Schmolker, CEO, sune.schmolker@nordicbiosite.com, +45 42 92 17 79

LubioScience: Tobias Dietschy, tobias.dietschy@lubio.ch, + 41 76 559 45 67

About LubioScience

LubioScience has been a leading distributor of life science products for over 20 years in its home market, Switzerland. Its highly qualified employees support local customers in gaining access to innovative products from top quality global life science manufacturers. For further information please visit www.lubio.ch

About Europa Biosite

Europa Biosite is a European supplier of life science products and services. We are a group of five leading distribution companies: Biomol in Germany, Cambridge Bioscience in the UK and Ireland, Nordic BioSite in the Nordics and Baltics, Sanbio in Benelux and Szabo-Scandic in Austria. The group has a portfolio of over 5 million products, representation in 15 European countries and a highly skilled team of over 130 employees.

Related links

Topics

Categories: News

Tags:

KKR Closes $2.8 Billion Global Impact Fund II

KKR

Second Impact Fund More than Doubles Size of First,
Underscores Commitment to Contributing to the UN Sustainable Development Goals

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund II (“GIF II” or the “Fund”), a $2.8 billion fund dedicated to investing in companies whose products and services contribute measurable progress toward the United Nations Sustainable Development Goals (“SDGs”). The Fund is the successor fund to the first KKR Global Impact Fund.

“We launched KKR Global Impact in 2018 because we saw an opportunity to invest behind proven companies that deliver scalable, commercial solutions to global problems,” said Robert Antablin, KKR Partner and Co-Head of KKR Global Impact. “Since then, that opportunity set has continued to grow, and we are thrilled with the outcomes our portfolio companies have been able to achieve. We are grateful for the support of our investors who share our conviction in this space, which we believe is well placed given the strong performance of our first fund.”

Global Impact contributes to the SDGs by investing in companies where financial performance and positive societal impact are aligned, with a focus on four key investment themes: Climate Action, Sustainable Living, Lifelong Learning, and Inclusive Growth. These themes seek to address critical and locally-relevant challenges, including climate change and its consequences, reliance on non-renewable resources and increasing waste, lack of access to quality education and the widening skills gap, and social and economic inequality.

“Globally, there is increased urgency to solve some of the world’s greatest challenges, such as the energy transition, supply chain resiliency, digitization and a shortage of skilled workers. For example, analysis by KKR Global Impact portfolio company Lightcast found that the skills requested for the average U.S. job have changed 37% since 2016, requiring a significant acceleration of upskilling1,” said Ken Mehlman, KKR Partner and Co-Head of KKR Global Impact. “We believe our Global Impact strategy is well-positioned to invest behind these macro tailwinds.”

The dedicated KKR Global Impact team is comprised of more than 20 people and is supported by KKR’s full suite of global resources, which allows the team to offer more than just capital to support companies. Since its launch in 2018, KKR Global Impact has invested in 18 companies including GreenCollar, CoolIT, Advanta, Lightcast (formerly known as Emsi Burning Glass), and CMC Machinery.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, family offices, insurance companies, and other institutional investors. KKR will be investing $250 million of capital in the Fund alongside investors through the Firm’s balance sheet, affiliates and employee commitments.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

____________________________
1 Lightcast. “New Report Measures Blazing Pace of Skills Change,” May 2022.

Media
Liidia Liuksila or Emily Cummings
+1 212-750-8300
Media@kkr.com

Source: KKR

Categories: News

Tags:

EQT Infrastructure to acquire Statera, a leading battery storage and flexible generation platform supporting the UK’s renewable energy transition

eqt
  • EQT Infrastructure has agreed to acquire Statera, a UK-based battery storage and flexible generation infrastructure developer and operator with 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes
  • Demand for stability services and dispatchable generation from batteries is expected to grow at speed as a result of rapid deployment of intermittent renewable generation and the gradual decommissioning of thermal capacity
  • EQT Infrastructure is committed to further investing in Statera’s ongoing development of battery storage and other flexible energy projects, which is expected to play an integral part in helping the UK reach its Net Zero targets

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT Infrastructure”) has agreed to acquire Statera Energy Limited (“Statera” or the “Company”) from InfraRed Capital Partners.

The UK energy landscape is steadily decarbonizing. In parallel to renewable energy gaining traction and thermal generation being phased out, the sector is experiencing a surge in electrification. Previously fossil fuel-driven areas such as heat and transportation are transitioning to electricity. In this evolving situation, the role of energy storage and flexible generation becomes paramount, ensuring a smooth energy transition and maintaining grid stability. Statera is well-positioned to benefit from and meet the increasing demand in this space.

Established in 2015 and headquartered in London, Statera is a prominent player in the UK’s battery storage and flexible energy generation sector, with a robust development track record. In addition to being an early entrant in the battery space, it recognized the importance of other key flexible technologies, namely pumped hydro and green hydrogen production, which are expected to aid the UK’s transition to a predominantly intermittent renewable energy supply. Statera has 1GW of flexible generation in operation and under construction, enough to power around 750,000 homes, and a total project pipeline of over 16GW, with plans to deliver 7.5GW of flexibility assets by 2030.

EQT Infrastructure will support the Statera management team and platform by providing access to growth capital to accelerate the deployment of flexible generation across the UK. It will also draw upon its significant experience of owning and developing companies that are driving the energy transition, as well as the expertise of its 600-person strong global network of Industrial Advisors.

Francesco Starace, Partner within the EQT Infrastructure Advisory Team, said: “In a world increasingly reliant on intermittent renewables and striving to achieve Net Zero emissions, battery storage and other flexible generation solutions are imperative. Both the public and private sectors must commit time, expertise, and capital to innovative solutions that can expedite the energy transition. The partnership between EQT and Statera is an exciting step towards achieving this goal.”

Tom Vernon, Founder and CEO of Statera, added: “It is essential that flexible generation and energy storage technologies are deployed at scale to enable the vast amounts of renewables required to decarbonize power systems. Statera directly addresses this challenge by developing and operating projects which provide the resilience and flexibility required to balance the grid. InfraRed and the team at Statera have been critical components of our success to date, and I am hugely excited to embark on our next phase of growth, in partnership with EQT. This transaction is a significant milestone, and the scale of EQT’s financial support and global footprint means Statera is well positioned to deliver its pipeline of battery, pumped hydro and green hydrogen technologies.”

Stephane Kofman, Head of Capital Gain Funds at InfraRed Capital Partners, said: “Having identified early on the fundamental need for flexibility and storage, we are very pleased to have worked closely alongside management to create a company that is a now a market leader and is playing a key role in facilitating the UK’s energy transition to a low carbon, high renewables future. Throughout our ownership we have continued to support management in evolving and implementing the company strategy, growing the operational and development asset base, actively mitigating revenue volatility and helping to add key infrastructure capabilities across the organisation.”

The transaction is subject to customary conditions and approvals. It is expected to close around the end of the year.

DC Advisory served as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor to EQT Infrastructure.

With this transaction, EQT Infrastructure VI is expected to be 20 – 25 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on the target fund size.

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

 

Contacts
EQT: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
Statera: Elizabeth Adams, statera@fticonsulting.com, +44 7974 982331
InfraRed Capital Partners: infrared@brunswickgroup.com

About EQT
EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 128 billion in fee-generating 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 Statera
Statera Energy is a UK-based energy company that develops, owns, and operates flexible generation, battery storage, pumped hydro and green hydrogen projects. These assets will help the UK build more renewable energy, more quickly, by providing the flexible capacity needed to balance the future grid whilst lowering carbon emissions and delivering best value for energy users. Statera has circa 1GW of assets in operation or under construction, plans to deliver 7.5GW of flexibility assets by 2030 and has a total pipeline of over 16GW.

More info: https://stateraenergy.co.uk/

Follow Statera on LinkedIn

About InfraRed Capital Partners
InfraRed Capital Partners is an international infrastructure investment manager, with more than 190 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital(1) for investors around the globe, in listed and private funds across both income and capital gain strategies.

(1) Data as at Q4 2022. Equity Capital is calculated using a 5-year average FX rate

Categories: News

Tags:

Eurazeo announces A €22.5M investment in a vessel fort the pan-european logistics leader SAMSKIP

Eurazeo

Eurazeo, through its Asset-based Finance strategy, is pleased to announce its 5th transaction for the Eurazeo Sustainable Maritime Infrastructure (ESMI) fund for an amount of €22.5 million. This investment consists in the financing of the first next-generation zero-emission short sea container vessel, being launched by the Samskip Group. Samskip will eventually produce 2 of such vessels that will serve as important steps towards reaching their sustainability targets and reinforce their goal of reaching Net-Zero by 2040.

The vessel, nicknamed “Samskip SeaShuttle”, is currently under construction at Cochin shipyard in India, and is expected to be delivered to Samskip in H2 2025. Once delivered, this vessel will be one of the world’s first and largest vessels to be propelled with a hydrogen propulsion system. The Samskip SeaShuttle will be fueled by green hydrogen in the ports of Oslo and Rotterdam, gradually integrated in the vessel’s energy mix from 2026 onwards to allow it to be totally carbon neutral from 2030. This will make it one of the world’s greenest vessels ever built, meeting all ESMI’s criteria and exceeding the fund’s targets in terms of GHG emission reduction objectives and credit risk profile as well.

Founded in 1990 in Iceland and headquartered in the Netherlands, Samskip is a logistics company offering transport and services by land, sea, rail and air. Being a European leader in transport and logistics services, the company puts a strong focus on efficient, reliable, and environmentally friendly transport.

 

Sylvain Makaya, Partner – Asset-based, and Guillaume Branco, Investment Director – Asset-based, declared:

“Being able to support an established player like Samskip, with a focus on European intra-trade and logistics activities, constitutes a landmark transaction for our ESMI fund. It is a great opportunity to be a part of such a sustainable vessel project that is expected to be carbon neutral by 2030, hence contributing to the industry’s target to be net zero GHG emissions by 2050. We would like to warmly thank Samskip along with our strategic partners on the ESMI fund: Elbe Financial Solutions who acted as financial & maritime advisor, our origination advisor NRP, Simonsen Vogt Wiig as our legal advisor, and our technical & ESG advisor Bureau Veritas Solutions Marine & Offshore. With this landmark transaction, we are reaching our objective to invest close to 50% of our first ESMI fund by 2023. We expect the ramp-up phase to continue during 2024 with the objective to prepare the second generation of this fund.”

 

Kari-Pekka Laaksonen, Group CEO Samskip, stated:

“The need to accelerate sustainability is paramount in today’s rapidly changing world. Waiting is simply not an option. At Samskip, we feel an ethical responsibility to pioneer for sustainable solutions. Building energy-efficient vessels that use significantly less energy is critical to our future, as there is not enough energy in the world to produce renewable fuel for everything we produce. Therefore, it is truly great that we receive the support of Eurazeo in financing the first Samskip SeaShuttle. We believe we will only be successful when we truly collaborate. The support of Eurazeo is a great example of the kind of collaboration that is needed to make an effective energy transition.

Categories: News

Tags: