Ratos Nomination Committee and 2021 AGM

Ratos

Ratos’s Annual General Meeting (AGM) will be held on 5 May 2021 at Skandiascenen, Cirkus, in Stockholm, Sweden.

In accordance with the policy for appointing Ratos’s Nomination Committee, it is hereby announced that the company’s major owners/owner constellations have appointed a Nomination Committee with the Chairman of the Board Per-Olof Söderberg as the convener.

The Nomination Committee comprises the following individuals:

  • Jenny Parnesten, nominated by the Ragnar Söderberg Foundation, and own and related parties’ holdings
  • Jan Söderberg, own holdings
  • Maria Söderberg, nominated by the Torsten Söderberg Foundation, and own holdings
  • Erik Brändström, nominated by Spiltan Fonder AB
  • Martin Gärtner, nominated by SEB Investment Management
  • Per-Olof Söderberg, Chairman of Ratos’s Board

The Nomination Committee has nominated Jenny Parnesten as Chairman.

In accordance with an AGM resolution, the Nomination Committee shall evaluate the composition and work of the Board of Directors and draft proposals for the 2021 AGM regarding:

  • election of the Board of Directors and Chairman of the Board
  • election of Auditor (in cooperation with the Audit Committee)
  • remuneration to Board members and auditors
  • election of Chairman of the AGM
  • where necessary, changes to principles for composition of the next Nomination Committee

Shareholders who wish to submit proposals to the Nomination Committee may send an e-mail to helena.jansson@ratos.com (subject line “To the Nomination Committee”) or a letter to Ratos Nomination Committee, Helena Jansson, Ratos AB, Box 1661, SE-111 96 Stockholm, Sweden, not later than 31 January 2021.

Shareholders who wish to submit a proposal for consideration at the AGM should send such a proposal to the Chairman of the Board (at the above address) not later than 17 March 2021 in order for the proposal to be included in the notice of the AGM.

 

For further information, please contact:
Jenny Parnesten, Chairman of Nomination Committee, +46 70 742 51 77
Per-Olof Söderberg, Chairman of the Board, Ratos, +46 8 700 17 98

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Arbor Investments Closes Fund V and DOF II, Raising over $1.65B of Capital

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Arbor Investment

Oct. 14, 2020

Arbor Investments (“Arbor”), a specialized private equity firm that focuses exclusively on investing in the food and beverage industry, announced today the closing of its fifth equity fund, Arbor Investments V, LP (“Fund V”), with $1.5 billion of outside capital commitments, as well as its second captive subordinated debt fund, Arbor Debt Opportunities Fund II, LP (“DOF II”), with $168 million of outside commitments. The close brings Arbor’s total assets under management (AUM) to $2.9 billion.

Gregory Purcell, Arbor co-founder and CEO, commented, “We are humbled by the commitments from our longtime limited partners as well as the interest from new investors who have entrusted Arbor with their capital. The quick and successful closing of Arbor Fund V, especially during this unique fundraising environment, is not only a testament to our outstanding investment track record but also a continued endorsement of the highly differentiated strategy we’ve refined over more than two decades. We anticipate tremendous opportunity to deploy this new capital with outstanding entrepreneurial families and blue-chip strategic players.”

“Contrary to typical private equity firms, Arbor has always been focused on adding value beyond just capital and our results reflect this unconventional approach,” said Senior Operating Partner Timothy Fallon. “We’re firm believers in the advantages of industry specialization and our model is rooted in leveraging the firm’s experienced team of in-house resources to identify and execute transformative changes to our portfolio companies. It’s an operationally intense, all-hands-on-deck attitude that we believe drives value creation and positions us as the partner of choice to companies in the food and beverage sector.”

“Arbor’s brand is stronger than ever,” added Arbor President Carl Allegretti. “We are honored to have earned the trust of our investors and I couldn’t be more proud of our people. To raise this amount of capital so efficiently in this unprecedented time is a testament to the strength of our team and the track record that has been built over the 21 years of Arbor. The best is yet to come.”

Shannon Advisors acted as placement agent, and Kirkland & Ellis LLP served as fund legal counsel.

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21 Concordia exits Apaczka

October 14, 2020

21 Concordia has signed an agreement to sell its stake in Apaczka, the #1 e-commerce logistics and shipping platform operator, to Abris Capital Partners, a leading independent private equity fund manager.

Headquartered in Warsaw, Apaczka has been active for over 10 years in the logistics sector, enjoying a leadership position in Poland at the same level of large international shipping groups. Apaczka operates as a technology platform and an integrator, offering comprehensive shipment services for e-commerce stores, SMEs and SOHO (small office / home office) clients.

Acquired by 21 Concordia in 2017, throughout the holding period Apaczka enjoyed strong growth in direct sales and in the volume of parcels sent thanks to several strategic actions carried out. Apaczka completed 6 strategic acquisitions, including the second largest logistics player in Poland and five add-ons aimed at accelerating digital development. Moreover, Apaczka strengthened the managerial structure in the areas of finance, product, marketing and customer service and diversified its supplier base thanks to new agreements reached with international couriers such as GLS.

Apaczka also developed a new international parcel service from Poland to Germany and created a new platform dedicated to private individuals, while investing in online marketing to improve brand positioning.

On the back of these targeted actions, Apaczka today has over 40,000 clients compared to 16,000 at entry and has increased the volume of parcels sent to 8 million compared to 2.4 million in 2016, continuing to record a positive growth trend also during the covid-19 emergency.

Apaczka has a strong growth in sales in the last three years (2017-2020(B)), achieving a CAGR of over 15% and with over 35 million in sales expected in 2020. Apaczka has also doubled its workforce and opened a new branch.

21 Concordia has identified Abris Capital Partner as the ideal partner to continue the dynamic growth path launched in Apaczka.

Marek Modecki, Managing Partner at 21 Concordia, commented: “We are pleased to have actively participated in the growth of Apaczka. Working closely with the management team has allowed a rapid development of the company in one of the most appealing sectors of the moment. We are pleased that the management of Apaczka will be able to continue on this path and tackle new markets alongside a partner like Abris”

Grzegorz Iwaniuk, Co-founder and President of Apaczka, commented: “In addition to pursuing the current strategy of increasing our market share and asserting our leadership position, we plan to accelerate the growth of the business. Indeed, with the support of Abris we will notably develop and implement new solutions for entities operating in the e-commerce industry. Our goal is also to address new market segments with the apaczka.pl online platform.”

Edgar Koleśnik, Partner at Abris Capital Partners, commented: “Apaczka falls perfectly in line with the increasing demand for delivery e-services, allowing to foresee greats prospects for the company’s development. We are convinced that, with the experienced management team in place, we will be able to implement our ambitious plans both in terms of organic growth and acquisitions.”

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Ex-DICE & e-sports veterans raise pre-seed for new games studio NAG

LVP

Welcome to the LVP family, NAG Studios!

NAG raises pre-seed round

We are very excited to announce this $1M pre-seed round into NAG Studios AB, based in Stockholm, Sweden. The team is headed by DICE veteran Peter Stahl and esports specialist Johan Skott, and aims to deliver the next generation of competitive gaming entertainment.

Within VC and game development circles, the idea of investing into esports as some monolithic entity can form the punchline to many a joke. Not because it isn’t important within gaming, nor valid as a genuine differentiator – indeed, this was one of the key reasons why we invested into NAG – but that the sophistication of analysis has been lacking beyond platitudes about viewership, or esports was used as a buzzword tacked on without understanding what its function would be (see our previous blog post). We found that very few people were talking about esports in the right way. Is it possible to design an esport from the start? Is an esport a competitive game that has merely become popular?

On the other hand, when considering how well a game design will work as a viewing experience, or planning monetisation and balancing to make it open and fair enough to be considered by the esports ecosystem and tournament organisers, an esports focus makes sense. This also has added benefits when considering collaborating with streamers and influencers. Esports as a superstructure, being built on a competitive game with a fair balance and a fun to view format, means that getting teams in early to assist in this regard is only logical. The larger question that follows this is whether you can kickstart these communities by starting with this more hardcore community first and then expect the mass market to pick up the game as a result.

When we met NAG, we had all these thoughts running through our heads, and initially questioned why they were so explicitly targeting esports. However, as we talked further it became clear that their focus on esports was the effect, not the cause, of their wider strategy. Peter and Johan’s approach, in bringing in the community first and using them to build games from the inside out, was like music to our ears; this is how games should (and increasingly need) to be made. Their obsessive focus on integrating and engaging all users, regardless of whether they are actively playing the game or not, felt both revolutionary and natural at the same time. NAG is redefining what it means to be a competitive game, widening its scope to become a hobby activity: not merely the game, but including lots of overlapping activities including viewing and streaming integrations, flexible user engagement and community assistance in the design of the game.

To undertake this is no mean feat and luckily for us, the team assembled at NAG is more than up for the task. Together, the team has 60 years’ experience in the games and esports industry (the majority in competitive gaming), having worked on leading FPS titles such as Battlefield, Medal of Honor and Star Wars: Battlefront. Johan brings with him his deep network within esports. The creative spine of NAG, Peter and Niklas, both worked together whilst they were at DICE and the team are well positioned to draw upon the vibrant Swedish gaming ecosystem.

NAG’s first game is providing a mode and format that is different to anything that is currently out in the market today. Competitive games have always been more community-led and prone to experimentation than any other genre, thanks largely to a large and passionate core group seeking these high octane experiences. Looking back at the progression of competitive games, Counterstrike was initially a mod of Half-Life and battle royale was borne out of an Arma 2 mod. The fact that the ideas for these multi-billion dollar games have been spawned from within the community, clearly illustrates the importance of listening to and interacting with them. And this is exactly what NAG intends to do. We can’t wait to get started.

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LIVEKINDLY Collective Announces an Additional $135 Million Capital Raise

Blue Horizon

By Blue Horizon

Zurich, 14 October 2020 – Blue Horizon Corporation, the pure play thematic-impact asset manager in the alternative protein sector, announced today that The LIVEKINDLY Collective has successfully completed a USD 135 million capital raise through convertible securities with a selected group of strategic, institutional and mission-driven investors. The transaction was strongly supported by Blue Horizon Corporation as the anchor investor. New investors include a syndicate from Asia, led by Trustbridge Partners, global investment organisation EQT and Griffith Foods.

Blue Horizon Corporation is the controlling shareholder of The LIVEKINDLY Collective, which was created in 2019 (formerly known as Foods United). The LIVEKINDLY Collective has grown into one of the world’s largest and fastest growing plant-based food companies within a very short period of time.

Björn Witte, CEO and Managing Partner of Blue Horizon Corporation, said: “We congratulate Kees Kruythoff and his management team for their tremendous operational success in ramping up the company at scale and at speed over the course of this year. We are thrilled that our innovative business model keeps on attracting high quality and mission driven investor interest on a continuous basis.”

Media contact Blue Horizon Corporation
Martin Meier-Pfister, IRF
Phone +41 43 244 81 40
bluehorizon@irf-reputation.ch

Please refer to the official LIVEKINDLY Collective Press Release as below.

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LIVEKINDLY Collective Announces an Additional $135 Million Capital Raise
Following a Successful Founders Round of $200 Million Earlier this Year
Seeks to Make Plant-Based Food the New Normal with Protein-Packed Meat Alternatives

NEW YORK | October 14, 2020 —The LIVEKINDLY Collective, a leading global multi-brand plant-based food company, today announced a successful capital raise of $135 Million led by Blue Horizon Corporation. Investors included a syndicate from Asia led by Trustbridge Partners, and global investment organization EQT, along with Griffith Foods, and other existing shareholders.

Proceeds from this capital raise will be used to accelerate LIVEKINDLY Collective’s mission to transform the current unsustainable meat-centric food system by making healthier, delicious and more sustainable plant-based alternatives accessible to consumers worldwide. The majority of proceeds will be used to increase capacity and accelerate the 2021 nationwide U.S. launch of portfolio brands Fry Family Food Co., LikeMeat, and Oumph! whose products are currently available in select markets across Europe, Africa and Australia, and develop new products, including plant-based chicken and eggs.

“We see significant investor interest increasing around our movement,” said Kees Kruythoff, CEO and Chairman of LIVEKINDLY Collective. “Through our plant-based food platform we’re committed to ethically and environmentally-friendly practices in everything we do. We are also uniquely positioned to scale rapidly and transform the current global food system.” “Global consumer demand for plant-based meat alternatives is growing rapidly, creating a meaningful opportunity for investors, and our focus on chicken alternatives addresses a massive global need,” said David Knopf, Chief Financial Officer of LIVEKINDLY Collective. “Our plans to accelerate business growth not only meets the demand of consumers for healthier and more environmentally friendly products, but also creates an attractive investment opportunity behind a purpose-driven business model.”

With this additional round, the total funds raised by the company in 2020 amount to $335 Million, resulting in LIVEKINDLY Collective becoming one of the highest funded plant-based food companies globally.

ABOUT LIVEKINDLY COLLECTIVE
The Livekindly Company, Inc. (d/b/a LIVEKINDLY Collective) was founded by Blue Horizon Corporation to accelerate the transformation of the global food industry into a healthier, sustainable, kinder food system, accessible to all. Through strategic partnerships with seed growers, producers, and distributors, LIVEKINDLY Collective is the only company in the plant-based food sector to own and operate the entire value chain. As a collective of founders, entrepreneurs and global leaders, the company is uniquely positioned to create impact at speed, at scale. Through its brands The Fry Family Food Co., LikeMeat, and Oumph!, LIVEKINDLY Collective is making plant-based eating the new normal and providing consumers with healthy, sustainable, delicious food. Its mission-driven lifestyle and media platform LIVEKINDLY inspires its community to make positive and sustainable changes through entertaining, and informative content.

Media contact LIVEKINDLY Collective:
Alicia Diotte | media@livekindly.com

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About Blue Horizon
Blue Horizon Corporation has shaped the growth of the market for alternative proteins since the beginning and accelerates it through targeted investments as a pure play industry pioneer. The company aims to sustainably transform the global food industry through investments into companies who are replacing animal proteins with healthy, alternative protein sources across the global supply chain. Blue Horizon was founded in 2016 and is based in Zurich and Los Angeles. The company launched its first venture fund in 2018. Since then, it has completed over 50 seed and venture capital investments in the alternative protein food tech sector and raised more than CHF 350 million. Its business model offers a unique market access from Seed to Consolidation via funds and direct investment platforms throughout all stages of asset lifecycles. More on www.bluehorizon.com

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Lingit acquires LexAble to support international growth

Verdane Capital

TRONDHEIM, Norway — Lingit, a Verdane-owned software company offering multilingual literacy support for dyslexics and others with reading and writing difficulties, continues its international expansion with the acquisition of LexAble, a British technology company providing automatic and immediate text correction.

Many people have difficulties acquiring basic writing and/or reading skills, often due to dyslexia. Lingit develops language technology which makes reading and writing easier. The software supports users with spelling, word choice and reading on computers and tablets. It allows users to “read with their ears”, making it less likely for spelling mistakes to occur. This enables users to read more and produce better texts.

In 2018, Norway-based Lingit made its first foray into international markets through the acquisition of Claro Software, a British peer that offers similar solutions as Lingit. Claro Software has a strong foothold in the UK and sales in several European countries including France, the Netherlands, Italy, Spain and Sweden.

Lingit now continues its international expansion through the acquisition of LexAble. Founded in 2007 by Neil Cottrell, who has dyslexia, the company was born out of a wish to create a solution to the personal challenges he was facing when reading and writing. Through establishing LexAble, he was also able to help others in the same situation.

“LexAble has developed an exciting software for automatic text correction as you write. The software has high professional and technological credibility in the market. The technology is developed so that all corrections by the software are aggregated from users in a central database, currently consisting of more than 1.5 million validated autocorrections. This way, the underlying language resources are continuously improved as the software corrects text,” says Frode M. Thulien, CEO of Lingit.

 

As with Lingit and Claro Software’s solutions, LexAble’s software also works on PC, Mac and several other platforms.

“We aim to further improve our software by including LexAble’s technology in the Lingit family. It will allow us to strengthen our offering towards English language education in Norway and for Claro Software’s users, and is also an important step in further international expansion to English speaking markets.”, says Thulien.

“Norway is at the forefront in recognising reading and writing difficulties, and in understanding which approach gives the best results. We are also ahead of the curve with regards to use of digital tools in education. These represent important drivers for the adaptation of reading and writing aids, also internationally. Our experience from our home market, combined with our unique technology and methodology, gives us a clear advantage when entering new markets,” Thulien continues.

Lingit’s revenues amounted to NOK 34 million in 2017, when the Northern European specialist growth investor Verdane became majority shareholder and Lingit’s international growth strategy was implemented. The goal is to reach more than NOK 130 million in revenues in 2020, including completed acquisitions.

“We have set a new standard for reading and writing support software. Our employees are passionate about language and learning, and are privileged to see the impact our software can have on those in need of such support. Our tools provide help to both children and adults in managing and compensating for their difficulties, so that they can have the same education, work and career opportunities as everyone else. We know our technology can help millions of dyslexics across the world and the acquisition of LexAble will allow us to help even more people,” says Thulien.

The parties have agreed not to disclose the terms of the deal.

About Lingit AS

The language technology company Lingit AS is Northern Europe’s leading provider of software for reading and writing support. Founded in Trondheim, Norway, in 2001, the company has since helped tens of thousands of children, students and adults to manage and compensate for their reading and writing difficulties. Lingit aims to contribute to increased inclusion and equal opportunities in work and education through its unique technology and method. With a solid position in the Norwegian market, the company is now expanding internationally, aiming to help more people. Lingit acquired British Claro Software in 2018, a company with a strong foothold in the UK and sales to several European countries. In 2020, the British text correction company LexAble joined the Lingit family. Lingit is headquartered in Trondheim, with offices in Bergen, Cardiff and Manchester and a development department in Ukraine. www.lingit.no

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2bn in total commitments and have made over 120 thematic investments in digital consumer, energy & resource efficiency and software businesses. Category leaders backed by Verdane include Brightpearl, Freespee, HIVE Streaming, Hornetsecurity, Inriver, Lingit and Talentech. Verdane’s team of 61, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the best growth partner in Northern Europe. www.verdane.com

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Sandbäckens acquires Rörbolaget M Söderkvist AB i Västervik

Segula

7 October, 2020

Sandbäckens continues its growth journey and strengthens its position in an additional strategic location, Västervik, through the acquisition of Rörbolaget M Söderkvist AB. The purchase agreement was signed on the 5th of October 2020.

Rörbolaget M Söderkvist AB was founded in 2004 by Mats Söderkvist, who has previously been active in companies such as Calor Celsius and BPA in Sweden and Germany. The Company has a strong market position and is today a full-service heating and sanitation partner to both companies and private individuals in Västervik and the surrounding area.

“I look forward to seeing Rörbolaget and my coworkers getting the opportunity to develop within Sandbäckens. Rörbolaget will continue to be a local, safe and flexible heating and sanitation partner here in Västervik, while at the same time gaining access to increased resources and being able to broaden our offering to the market” says Mats Söderkvist, CEO, Rörbolaget.

 ”I welcome Mats and the team at Rörbolaget to Sandbäckens. I eagerly anticipate following the Company’s continued development within the framework of Sandbäckens business model, as a subsidiary under the leadership of Mats as CEO and part-owner” says Mats Åström, Group CEO, Sandbäckens.

For further information, please visit www.sandbackens.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

Torbjörn Carlsson, Regional Manager South, Sandbäckens
+46 70 322 13 00, torbjorn.carlsson@sandbackens.se

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Sovereign backed car park management solutions business Premier Park makes third acquisition

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Sovereign Capital Partners, the UK private equity Buy & Build specialist, is pleased to announce that portfolio company Premier Park, a leading provider of car park management solutions, has acquired Park Watch.

News

This is the third acquisition Premier Park has made since Sovereign backed the business in May 2019 to meet the increasing demand for its services through organic growth and strategic acquisitions.

Established in 2012, Park Watch provides car park management solutions to private car parks in the UK. Based in Cheshire, the business manages sites for a range of enterprise, property management agent and SME clients and strengthens Premier’s North West presence. In 2019 Premier Park acquired UK Car Park Management (UKCPM), one of the UK’s largest providers of car park management solutions and Automatic Number Plate Recognition (ANPR) services to enterprise and SME customers. Like Premier, UKCPM installs and manages ANPR cameras and provides patrol services to monitor usage, prevent abuse and ensure legitimate users have parking access. This was followed by the acquisition of Stafford-based iView, a proprietary software business which provides ANPR processing capability to the wider parking sector.

The acquisitions have built the Group to become an integrated and scaled car park management business delivering an end-to-end service with market leading proprietary technology and internal processing capabilities. This latest acquisition takes the total number of sites under management across the UK to over 7,000 and brings the number of staff to c.160.

At the time of Sovereign’s investment in Premier Park Paul Dawson, Group CEO, joined the business. Paul had spent c.18 years working at Capita plc and held various senior management roles including CEO of ParkingEye and divisional MD of Capita Parking Services. Andy Parker, the highly experienced former Group CEO of Capita plc joined the business as non-executive Chairman.

Jonathan Thorne, Director, Sovereign Capital Partners commented:

“Premier Park is a high-quality business led by an exceptional management team. Park Watch, like Premier Park, is operating at activity levels close to pre-lockdown and the Group is performing well. We look forward to continuing to partner the team as Premier Park seeks new opportunities to grow in what is a fragmented and growth market.”

Paul Dawson, Group CEO, Premier Park said:

“This is a really exciting time and I am pleased to welcome Park Watch to the Group. Our business has grown rapidly over the last year and we have fantastic capability which we will continue to develop whilst remaining fully focused on the quality of service we deliver to our clients.”

Levine Leichtman Capital Partners Closes Second Europe Fund with €463 million of Capital Commitments

Levine Leichtman

LOS ANGELES, October 13, 2020 – Levine Leichtman Capital Partners (“LLCP”) today announced the final closing of Levine Leichtman Capital Partners Europe II SCSp (“Europe II”) with €463 million of capital commitments.

Europe II received strong support from a prestigious group of institutional investors, including pension funds, insurance companies, banks, family offices and foundations.  Europe II has already completed one investment and has two additional investments under contract.

LLCP has been investing in Europe since the opening of its London office in 2011, expanding its presence with the addition of offices in The Hague in 2015 and Stockholm in 2019.  LLCP’s first Europe-focused fund, Levine Leichtman Capital Partners Europe, L.P., closed in 2015 with €100 million of capital commitments and has made four investments.

“We are excited to close our second Europe fund with commitments from returning and new limited partners,” said Michael Weinberg, a Managing Partner of LLCP.  “The very positive response to the fund is a testament to the success of our first Europe Fund and the differentiated investment strategy we implement on a global basis.  It also reflects the strength of our European team, which is supported by the broad resources and expertise of our entire firm.”

John O’Neill, Head of European Fund Investments at LLCP said, “Our firm is very enthusiastic about the investment environment across Europe. Over the past several years we have established offices in key European markets and recruited outstanding investment professionals, positioning our firm to capitalize on a range of attractive opportunities.” Wouter Snoeijers, a Managing Director of LLCP, added, “In the coming years we expect to continue building our European origination and investment operations, reflecting our commitment to supporting industry leading middle-market companies in this important market.”

About Levine Leichtman Capital Partners                                   

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 37-year track record of investing across various targeted sectors, including franchising, professional services, healthcare, education and engineered products.  LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies.  This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.

LLCP’s global team of dedicated investment professionals is led by seven partners who have worked together for an average of 21 years. Since inception, LLCP has managed approximately $11 billion of institutional capital across 14 investment funds and has invested in over 85 portfolio companies. LLCP currently manages approximately $7 billion of assets – including its most recent flagship fund, Levine Leichtman Capital Partners VI, L.P., which closed in 2018 with $2.5 billion of committed capital – and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm and The Hague.

© 2020 Levine Leichtman Capital Partners. All rights reserved.

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Ardian acquires 50% ownership stake in Angus Chemical Company

Ardian

  • 13 October 2020 Buyout New York, San Francisco & Buffalo Grove, USA

  • • Golden Gate will retain 50% ownership stake
    • Partnership positions ANGUS for accelerated global growth
  • New York, San Francisco & Buffalo Grove, Ill. – October 13, 2020 – Ardian, a world leading private investment house, today announced that it has acquired a 50-percent ownership stake in ANGUS Chemical Company (“ANGUS” or the “Company”) from Golden Gate Capital at a total enterprise value of approximately $2.25 billion. Golden Gate Capital, which initially acquired ANGUS in February 2015 from The Dow Chemical Company, will retain a 50-percent stake in ANGUS. Additional terms of the transaction were not disclosed.

Founded in 1935, ANGUS is the world’s only company dedicated to the manufacture and distribution of nitroalkanes and their derivatives. Through its proprietary technology, the Company produces a unique portfolio of specialty additives and high-performance intermediates, which help customers deliver enhanced product and process performance across a wide range of applications in life sciences, personal care and high-growth industrial markets. In addition, ANGUS’ solutions are widely used in applications to help combat the spread of COVID-19, including high-alcohol hand sanitizer gels, diagnostic kits, antibody treatments and vaccines.

Over the last five years, Golden Gate Capital has meaningfully grown the business while repositioning it to focus on premium consumer applications. Ardian and Golden Gate Capital will partner with ANGUS President and CEO David Neuberger and the Company’s current senior management team to grow the business through continued focus on and investment in core markets supplemented by development of application adjacencies and of new-to-world molecules.

Thibault Basquin, Head of Americas Investments at Ardian Buyout stated, “Management and Golden Gate Capital have built an impressive Company and we are delighted to partner with them on this next phase of growth. ANGUS plays a critical role in the life sciences and personal care value chains, and its products have supported dozens of essential businesses over the last few months. With Ardian’s global reach and together with Golden Gate Capital, we plan to accelerate the Company’s growth and provide ANGUS’ customers with a compelling range of products. We have deep expertise and an extensive network in the sectors served by ANGUS, and we intend to support the Company in the implementation of a global buy & build strategy, similar to our approach with other successful investments.”

Dave Thomas, a Managing Director at Golden Gate Capital, said, “We have enjoyed a highly successful partnership with David Neuberger and the entire ANGUS team over the past five years. Since our initial investment, ANGUS has driven exceptional growth and strengthened its global business through significant investments in the Company’s life sciences and personal care business segments, including major capacity expansions and the buildout of innovation and sales capabilities. These investments have enabled ANGUS’ transformation into a high-growth organization. With this strong foundation in place, we look forward to supporting ANGUS’ continued growth alongside Ardian.”

David Neuberger, President of ANGUS, said, “Ardian’s interest in ANGUS is a testament to our resilience, consistent growth, talented team and the extraordinary value of our current product portfolio and R&D pipeline. Likewise, Golden Gate Capital’s continued ownership in ANGUS is a testament to their belief in our future prospects. Over the course of our five-year relationship, we established ANGUS as an independent company; transformed our business into a stable, consumer-focused organization; increased our capacity for key chemistries like TRIS AMINO™ tromethamine; and enabled our customers’ own growth plans. The management team is excited to have the combined support of Ardian and Golden Gate Capital. We are confident that they share our strategic vision as we accelerate the growth of our innovative, high-demand chemistries.”

Christopher Sand, Director at Ardian Buyout added, “Over the last five years, ANGUS has prospered.  ANGUS’ highly-regarded management team, unique product set, resilience, and growth prospects – both organic and via acquisition – makes it an ideal investment for Ardian, and we look forward to partnering with Golden Gate Capital.”

The transaction is expected to close by the end of 2020.

With seven offices in Europe and America, Ardian’s global Buyout team acquires high-quality mid and large-cap companies across Western Europe and North America, applying transformational and multi-cultural buy-and-build strategies which enable portfolio companies to become global leaders in their respective sectors.

Citi and Guggenheim Securities LLC are serving as financial advisors to Ardian and Latham & Watkins is serving as the firm’s legal advisor.

Morgan Stanley & Co. LLC and JPMorgan Securities LLC are serving as financial advisors to Golden Gate Capital and Kirkland & Ellis LLP and Nob Hill Law Group, P.C. are serving as the firm’s legal advisors.

 

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $100 billion under management and/or advisory in Europe, America and Asia. The company, which is majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance. Through its commitment to sharing the value created with all stakeholders, Ardian participates in the growth of companies and economies around the world. Based on its values of excellence, loyalty and entrepreneurship, Ardian benefits from an international network of 700 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages the funds of 1,000 clients through its five investment pillars: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow Ardian on Twitter @Ardian

 

ABOUT GOLDEN GATE CAPITAL

Golden Gate Capital is a San Francisco-based private equity investment firm with over $17 billion of committed capital. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable investments sponsored by Golden Gate Capital include U.S. Silica, EP Minerals, Cole-Parmer and Vantage Elevator Solutions.

ABOUT ANGUS CHEMICAL COMPANY

ANGUS is a leading global specialty and fine chemical company dedicated to the development of novel chemistries that deliver enhanced product and process performance across a wide range of applications in pharmaceuticals, biotechnology, paints and coatings, agriculture, personal care, metalworking fluids, electronics and other industrial markets. The company innovates through its unique nitroalkane chemistries, including its flagship AMP™ (aminomethyl propanol) multifunctional additives and TRIS AMINO™ tromethamine, which are produced at fully integrated, ISO 9001-certified manufacturing facilities in Sterlington, Louisiana, USA, and Ibbenbüren, Germany. ANGUS serves its global customers through six regional Customer Applications Centers located in Chicago, Illinois; Paris, France; São Paulo, Brazil; Singapore; Shanghai, China; and Mumbai, India. The company is headquartered in Buffalo Grove, Illinois.

Press contact

GOLDEN GATE CAPITAL – Sard Verbinnen & Co.

ANGUS CHEMICAL COMPANY

Scott Johnson

scjohnson@angus.com +1 847-808-3769

Ardian – The Neibart Group

Emma Murphy

emurphy@neibartgroup.com +1 347 968 6800

 

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