Investor – Acquisition of Laborie completed

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Investor

2016-09-16 17:31 GMT+02

On August 19, Patricia Industries, a part of Investor AB, announced the acquisition of the Canadian medical technology company Laborie from Audax Private Equity.

Following approval by the competition authorities, the acquisition has now been completed.

For the fiscal year 2016 (ending March), sales were USD 117 m. and reported EBITDA was USD 29 m., including non-recurring expenses of approximately USD 9 m. Since 2014, annual organic sales growth has averaged 5 percent in constant currency.

The acquisition price is approximately USD 640 m., which was provided by Patricia Industries, and Laborie’s management and board. Patricia Industries will own approximately 97 percent of Laborie upon closing and intends to replace part of its equity financing with debt at a later stage.

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Airteam acquires Ventek Ventilation

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Ratos’s subsidiary airteam is strengthening its market position in Denmark through the acquisition of Ventek Ventilation A/S, a supplier of ventilation solutions.

airteam, a leading supplier of ventilation solutions in Denmark, is strengthening its market position in the country through the acquisition of Ventek Ventilation. The company was formed in 1982 and has approximately 45 employees, with its head office located in Nibe. Sales for 2015 amounted to approximately DKK 65m. Its offering comprises complete ventilation solutions, from design to installation and commissioning of ventilation systems. Furthermore, Ventek Ventilation offers maintenance and service of its installed solutions. The company’s offering is an excellent complement to airteam’s core operations.

“This strategic add-on acquisition further strengthens airteam’s market position in North Jutland in Denmark. Ventek is a market leader in North Jutland and has a customer-centric business culture and a dedicated team of employees. The company’s offering is a good fit for airteam’s business model,” says Poul Pihlmann, CEO of airteam.

The acquisition was completed on 15 September 2016.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Robin Molvin, Investment Director, +46 08 700 17 00

– See more at: http://www.ratos.se/en/Press/Press-releases/2016/Ratos-AB-airteam-acquires-Ventek-Ventilation/#sthash.RzzYPunt.dpuf

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HAL Completes sale of Audionova International

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Hal Holding
HAL and management completed the sale of 100% of the ownership interest in AudioNova International B.V. to Sonova Holding AG for an enterprise value of € 830 million.
This transaction was already announced on May 4, 2016.
AudioNova operates more than 1,300 stores in eight European countries and reported 2015 revenues of € 359 million and an operating income of € 47 million. The transaction resulted in a net capital gain for HAL of approximately € 490 million(€ 6.24 per share)
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HAL HOLDING N.V.
September 15, 2016

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Kinnevik: Financial results for the first six months 2016 for Global Fashion Group

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Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today published financial results for the first six months 2016 for Global Fashion Group (including the regional businesses Lamoda, Dafiti, Namshi and Zalora). 

Global Fashion Group will host a conference call today, 15 September 2016, at 10.00 CET to present the results for the first six months 2016. Participants are welcome to join by phone using the below dial-in details:

DE: +49 (0) 69 2222 10633
UK: +44 (0) 20 3427 1924
USA: +1 646 254 3387
SE: +46 (0) 8 506 539 34

PIN Code: 9689105#

Summary financials for Global Fashion Group (including Lamoda, Dafiti, Namshi and Zalora) can be found on the following pages of this press release.

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations

Phone +46 (0)8 562 000 83
Mobile +46 (0)70 762 00 83

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Data Respons acquires German company MicroDoc

Data Respons acquires 100 % of the shares in MicroDoc Computersysteme GmbH, a SW technology company in Germany with headquarters in Munich. The company has more than 50 specialists in SW development, Java and system design as well as SW solutions for IoT, mobile/network infrastructure and embedded applications

“With this acquisition, we strengthen us within several key strategic areas at one time. It gives us a big boost in SW development capabilities, IoT and digitising for the group as a whole. We get a strong foothold in Germany within R&D Services with further offices in Munich, Berlin and Stuttgart. Last, but not least, it gives us access to a strong customer portfolio in markets such as Automotive, Smart grid/Smart Home, Banking/Insurance, IoT and Industrial Automation” says Kenneth Ragnvaldsen, CEO of the Data Respons group.

“The acquisition strengthens Data Respons position significantly within the mega trends of digitalisation. Given Germany’s strong position as the largest economy in Europe and as an industrial forerunner, a strong foothold in the country is key to benefit from the digital revolution. We strongly believe that the acquisition of MicroDoc is a great step in the right direction for Data Respons”, says Narve Reiten, lead partner at Reiten & Co.

MicroDoc had a revenue of 12.5 MEUR in 2015 with an EBIT of 3.0 MEUR. It is agreed a cash consideration of 10.5 MEUR payable at closing with an additional amount depending on the company’s EBIT development in 2016, 2017 and 2018 (earn-out mechanism). The transaction is expected to close within the next 2 weeks.

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Acquisition Clondalkin Flexible Packaging Group

Egeria

Egeria, the Dutch based private equity firm has signed an agreement to acquire 100% of the shares of Clondalkin Flexible Packaging Group (“Clondalkin”) from an affiliate of Warburg Pincus. Completion of the transaction is expected to occur in Q4 2016. Clondalkin Flexible Packaging Group (“Clondalkin”) is a global flexible packaging manufacturer focused on delivering high quality innovative packaging solutions. Clondalkin comprises 11 manufacturing sites in The Netherlands, Germany, Switzerland, United Kingdom and USA supplying over 45 countries globally with a turnover of approximately €400 million.

Egeria has a proven track record in growing and developing international manufacturing businesses both organically and through acquisitions.  Paddy Mullaney, CEO of Clondalkin said “We are delighted to team up with Egeria for the next step of our development plan. Egeria’s experience in supporting businesses will further facilitate and strengthen Clondalkin’s continued development and expansion.”   Floris Waage, partner at Egeria, commented: “We are very excited to team up with Clondalkin. The company has a long history of delivering high value added products and putting its customers first. We are committed to supporting Clondalkin and are convinced it has attractive growth opportunities.”

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NPM Capital buys together with Kramp management shares from Schouw

NPM Capital and the management of Kramp reached in consultation with Schouw shareholder agreement to acquire the 20% interest of the Danish investment company in Kramp. Kramp in 2013 merged with its rival Grene, at that time owned by Schouw & Co. After the merger, Schouw received a 20% stake in the combined company.

NPM Capital, which has a stake since 2010 Kramp, the largest technical wholesale for the agricultural sector in Europe has been very constructive cooperation with Schouw after the merger in 2013. Johan Terpstra, Investment Director at NPM Capital said in a note: “Kramp and Grene already formed a very good team. We have achieved after the merger of the two organizations together all the stops to the synergies we actually realize asked us when goal. With this step we underline that we want to stay a long time on board and to facilitate Kramp management in realizing its growth ambitions. “

Eddie Perdok CEO of Kramp shows to be pleased with the expansion of the interest in Kramp. “Kramp is a great company with an excellent market position in Europe. We have engaged and motivated employees and together we are working hard to get it back to do a little better every day. With this strengthening of our ownership position we underline the confidence in our organization and in our management and in our future. “

The transaction expected to close before the end of 2016.

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EQT Real Estate acquires Technologiepark – a modern and attractive grade A office park in Cologne, Germany

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  • EQT makes its first acquisition in German real estate – a 116,155 square metre office park located in close proximity to Cologne’s central business district for a purchase price of EUR 188 million
  • The park is acquired out of insolvency. EQT has identified a number of value-add strategies, with a focus on updating the physical structure of the buildings and to improve the tenant experience in the park, in order to re-gear leases
  • Ability to participate in a growing, tightly supplied Cologne office market, likely to experience substantial rental growth in the medium to near term

EQT is pleased to announce its debut investment into the German real estate market with the acquisition of this high-quality office park in western Cologne. Securing the deal has provided EQT with an opportunity to create value through hands on asset management and the injection of Capex/TI’s which will re-balance leases and maintain the quality of the assets. The transaction has placed EQT in prime position to take full advantage of the demand and supply imbalances across Cologne, driving occupancy and rent.

The acquisition comprises 7 different office buildings located within the park. Each building is accompanied with an element of parking, with a total of 2,863 spaces.

 

 

About EQT

EQT is a leading global private equity group headquartered in Stockholm, with approximately EUR 30 billion in raised capital. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

Investment Advisor EQT Partners formed a real estate initiative in 2015, to identify investment opportunities in the real estate sector. The Real Estate team consists of 11 investment advisory professionals with vast experience in the European real estate sector.

For further information, please visit www.eqtpartners.com 

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EQT VII increases its shareholding to above 90 percent in IFS and prepares for compulsory squeeze-out

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EQT VII [1] (”EQT”), through IGT Holding IV AB [2] (”IGT Holding”), on 7 December 2015 announced a mandatory cash offer to the shareholders in Industrial and Financial Systems, IFS Aktiebolag (publ) (”IFS”) to acquire all outstanding A- and B-shares in IFS at a price of SEK 362.50 per share. The offer was completed on 11 February 2016 at which time IGT Holding had reached an ownership of approximately 84 percent of all shares in IFS.

IGT Holding has now entered into an agreement with Elliott International L.P. and Elliott Associates L.P. (together “Elliott”) to acquire all Elliott’s shares in IFS. IGT Holding will thereby reach an ownership of approximately 97 percent of all shares in IFS. The acquisition of the shares from Elliott is made at a price of SEK 396.73 per share, regardless of share class.

Since IGT Holding holds shares representing more than 90 percent of the total number of shares in IFS, IGT Holding intends to commence compulsory squeeze out proceedings under the Swedish Companies Act to acquire all remaining shares in IFS. Relevant announcements regarding the squeeze out proceedings will be made by IFS when the squeeze out has been formally initiated by IGT Holding. In connection therewith, IGT Holding also intends to promote delisting of IFS’s shares from Nasdaq Stockholm.

Contact:
Kerstin Danasten, press officer, EQT: +46 8 506 553 34, press@eqtpartners.com

About EQT
EQT is a leading global private equity group with approximately EUR 30 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

 

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Oakley sells partial stake in PARSHIP ELITE Group

Transaction values the business at €300m, representing a return of 3.6x MM on original investment and an IRR of approximately 150%. Oakley retains an ongoing stake in the business to benefit from further growth.

Oakley Capital Private Equity is pleased to announce that Oakley Capital Private Equity II (“Fund II”) has reached an agreement to sell a controlling stake in PARSHIP ELITE Group (the “Group”), a leading online dating service in the German-speaking world, to ProSiebenSat.1 Media SE (“ProSiebenSat.1”), with Fund II and existing management retaining stakes totalling just under 50% of the Group.

This deal means that, since the initial acquisition 16 months ago, the equity investment has generated a 2.3x cash return and a money multiple of 3.6x overall, including Fund II’s retained stake in the Group.

ProSiebenSat.1 is acquiring its interest in PARSHIP ELITE Group based on an enterprise value of €300 million. Fund II will receive gross proceeds of €129 million and retain a significant minority stake in the Group, providing investors with participation in further potential value upside.

Over the 16 months under Fund II’s ownership, PARSHIP ELITE Group has delivered strong organic growth and at the same time has consolidated its position as a leading player in the online dating market, through the acquisition of Elite Partner, signed just six weeks after the initial PARSHIP investment.

Peter Dubens, Managing Partner of Oakley Capital Private Equity, commented: “The sale of this stake in PARSHIP ELITE Group locks in an impressive return for Fund II and a continued stake in a fast growth business. Oakley Capital has a successful history of working with ProSiebenSat.1 with both parties currently invested in online consumer business, Verivox. We are excited by the opportunity that Fund II has created to once again partner with ProSiebenSat.1. Oakley Capital and the management of PARSHIP ELITE Group believe that the value of our retained stake will be significantly enhanced within the ProSiebenSat.1 group of companies by allowing PARSHIP ELITE Group to leverage ProSiebenSat.1’s leading position in the media sector.”

Rebecca Gibson, Partner of Oakley Capital Private Equity, commented: “The strong growth of this company is a further demonstration of Oakley’s expertise in the online sector and its ability to identify value generating opportunities. We have worked in partnership with the management team to drive organic growth whilst encouraging ambitious strategic acquisitions that have brought scale and operational leverage. It also highlights our ability to deliver impressive returns in a relatively short amount of time. We would like to thank the PARSHIP ELITE Group management team, and look forward to working with them and ProSiebenSat.1 in creating further growth and value.”

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