Category Archives: News

Altor to acquire Nordic Climate Group – becomes majority owner

Altor

Altor Fund V (“Altor”) has signed an agreement with Capillar Equity to acquire a majority stake in Nordic Climate Group (”NCG”). Completion is subject to approval of the competition authorities.

The entrepreneurs and management of NCG will continue to own a meaningful share of the company.

NCG is a services, installations and solutions company within the cooling and heating industry. NCG is the market leader in the Nordics with its full national coverage in Sweden and Norway with 50 legal operating entities. Pro forma revenues as per 30 April 2022 is estimated to be 2.2 bn SEK and NCG employs roughly 800 people. NCG is built on the principle of decentralized decision making with a focus on strong local entrepreneurship with the collective strength of being a leading national player and being able to offer one stop shop solutions.

NCG’s offering range from complex industrial solutions for refrigeration, freezing systems for large industrial companies, cooling solutions for the food and grocery industry, refrigerated sea water systems but also heating solutions (mainly heat pump installations) as well as comfort cooling and heating to create adequate and sustainable indoor climate.

NCG is active across a wide range of industries with strong underlying market growth, which is underpinned by numerous trends, mainly driven by the focus on sustainable and energy efficient solutions. This is partly driven by regulations, strong focus on replacing existing solutions having negative effects on the climate, increased demand for reliable and safe food logistics and handling solutions, increased demand for adequate and improved sustainable indoor climate, grocery industry going online and becoming more automated and growth in data centres.

“Together with Capillar Equity we have been on a mission to help our customers create the best sustainable and energy efficient climate solutions. Our strategic partnership with Altor will facilitate an acceleration of our ambitions and also make possible a further expansion and growth into new geographical areas” says NCG’s acting CEO Mats Åström.

“The investment builds on Altor’s DNA of partnering with great entrepreneurs, as well as our focus of investing in companies driving a green transition. We are impressed of Capillar Equity’s and the entrepreneurs’ creation of NCG and the group has already become the leading Nordic company in the sector and we believe that NCG’s growth journey has only just begun. We are also very excited to have Per Sjöstrand and Torbjörn Torell joining the board. We look forward to partnering with this leading and highly professional group of people to help them deliver on our joint ambition.” says Petter Samlin, Partner at Altor.

”We are very proud of having created NCG together with such competent and engaged entrepreneurs and management, and the relevance of being able to offer sustainable and smart energy efficient solutions has never been greater. With Altor onboard, I am fully convinced that we have selected a successor dedicated and well positioned to take NCG to the next level and to increase the already ambitious set targets for NCG”, says Johan Nylén, Partner at Capillar Equity.

For more information, please contact:
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 85 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Eleda, Ludvig, OX2, Dustin and Gunnebo. For more information visit www.altor.com.

About Capillar Equity
Capillar Equity invests in small cap companies active in predominantly business services with the ambition to create Nordic champions through accelerated horizontal industry consolidation. The firm has a developed an accelerated buy and build investment strategy, accessing private small cap companies throughout the Nordics, primarily in Sweden, Norway and Finland. Among current and past investments are Layer Group (previously Nordic Surface Group), Spolargruppen, Nordic Climate Group, C-medical and Nordic IT Services. For more information visit www.capillar.se.

Author: Katarina Karlsson
Date: 2022.05.16
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LEARNED.IO raises funding to grow its skill-based talent management platform

Arches Capital

Amsterdam, 15 May 2022 – Learned.io, a talent management platform (located in Utrecht), announced it closed its latest €1.5 million funding round led by Arches Capital. Current investor TechFund One, VIE Tech Capital and the Rabobank participated in the financing round. Learned will use the funding for product development and growth of the platform.

The founders started their mission in 2018, after experiencing first-hand the difficulties modern companies face with attracting and retaining new talent. Their goal at the time: helping 1 million employees to grow and perform, through great HR cycles that work. At the time of investment, Learned has already helped over 125 customers to modernize HR cycles towards continuous dialogues of skill and career development, resulting in engaged teams with future-proof skill sets.

The sales growth is impressive and the platform resonates with the customers. With the funding round closed, Learned will expand its team in the Netherlands over the course of 2022.

We see a bright future for HR tech that helps employees become more engaged with their employers. The Learned platform is all about people and team work. We believe the Learned team truly excels in this regard.

Frank Appeldoorn, managing partner of Arches Capital

The Learned team

About Learned
Learned is based in Utrecht, The Netherlands. Learned develops a skill-based talent management platform that helps companies modernize their HR cycles. Learned’s mission is to help 1 million employees to grow and perform, through great HR cycles that work.

For more information see www.learned.io.

About Arches Capital
Arches Capital is a fast-growing group of business angels that invests in startup and scale-up companies with a large growth potential. Through its investments Arches Capital bridges the gap between formal investors (VCs) and informal investors (business angels), by joining the best of both worlds:

“ We source, select and invest like a VC;
We engage, care and inspire as the angel we are. ”

Arches Capital differentiates itself by bringing superior deal flow, professional knowledge and a lower risk profile to the participating angel investors, while supporting its successful portfolio companies from start to exit through follow-on investments. For this Arches Capital is building the leading platform of actively engaged business angels that know how to operate and manage their investments in a professional and standardized manner.

For more information, visit www.arches.capital.

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Advent International to Acquire a Significant Stake in Imperial Dade, a Leading North American Distributor of Food Service Packaging and Janitorial Supplies, from Bain Capital Private Equity

BainCapital

Boston and Jersey City, NJ – May 2, 2022 – Advent International (“Advent”), today announced it has signed a definitive agreement to acquire a significant stake in Imperial Dade (the “Company”), the leading distributor in North America of foodservice packaging and janitorial supplies, from Bain Capital Private Equity (“Bain Capital”).  Bain Capital, which first invested in Imperial Dade in 2019, and Advent will have joint Board governance.  Imperial Dade will continue under the leadership of Robert and Jason Tillis, Chairman and CEO respectively, who remain significant investors in the business alongside the current management team.  Financial terms of the private transaction were not disclosed.

Advent International to Acquire a Significant Stake in Imperial Dade, a Leading North American Distributor of Food Service Packaging and Janitorial Supplies, from Bain Capital Private Equity

Founded in 1935 and based in Jersey City, NJ, Imperial Dade is a leading independently owned and operated distributor of foodservice packaging, facilities maintenance supplies, floor equipment, and industrial packaging serving North America, Puerto Rico, and the Caribbean.  With approximately 6,400 employees, Imperial Dade provides customized supply chain solutions to customers in the foodservice, grocery, hospitality, cruise lines, healthcare, retail, government, facilities maintenance, and export market segments.  Imperial Dade operates from a network of strategically located distribution centers totaling over 10.2 million square feet of warehouse space across North America  and serves more than 90,000 customers.

“When we invested in Imperial Dade three years ago, we had a shared vision with the Tillis Family that there was an enormous opportunity to build on the strong foundation they had created and to create an industry leader focused on best-in-class customer service.  Under their leadership, Imperial Dade has become the preeminent platform in North America that quality, independent operators are proud to join.  Now we are excited to continue to support Imperial Dade’s growth journey with our new partners at Advent, with whom Bain Capital has successfully collaborated in the past,” said Ken Hanau, a Managing Director and Co-Head of Industrials at Bain Capital Private Equity.

Since 2019, Imperial Dade’s revenue has increased from $2 billion to $5 billion as a result of organic growth and the acquisition of regional distributors expanding their geographic reach and customer service capabilities in North America.  In March 2022, Imperial Dade reached an agreement to acquire Veritiv Canada, Inc. to extend its presence into Canada.

“Customers are at the core of all we do as we work to provide the best possible solutions through the products and services we offer,” said Jason Tillis.  “We appreciate the support and partnership Bain Capital has provided as we have expanded our business and customer mix tremendously, and we look forward to working with Advent as we continue to expand our platform,” said Robert Tillis.

“We are thrilled to partner with Jason and Robert Tillis and the entire Imperial Dade management team, along with Manny Perez de la Mesa, Bain Capital and Audax, to support Imperial Dade’s next chapter of growth.  Imperial Dade has developed a truly differentiated value proposition based on its best-in-class service and industry-leading product portfolio.  We look forward to continuing to serve the Company’s stakeholders, including its thousands of valued customers, its employees, and the communities in which it operates,” said Stephen Hoffmeister, a Managing Director at Advent International.

“I’m proud to partner with Jason and Robert Tillis, as they’ve built a terrific platform providing exceptional value to Imperial Dade customers and suppliers, while providing exceptional opportunities for its employees.  I am very much looking forward to continuing to support the business as it embarks on the next phase of its growth,” said Perez de la Mesa, lead director of Imperial Dade and former CEO of Pool Corporation.

Audax Private Equity, which invested in Imperial Dade in 2016, also continues to be a significant investor in Imperial Dade.

Harris Williams and Goldman Sachs & Co. LLC are serving as financial advisors, PwC is serving as accounting advisor, and Kirkland & Ellis LLP is serving as legal advisor, to Bain Capital and Imperial Dade.  Baird is serving as financial advisor, and Weil, Gotshal & Manges LLP is serving as legal advisor to Advent.

About Imperial Dade
Imperial Dade is the leading independently owned and operated distributor of foodservice packaging, facilities maintenance supplies and equipment in North America.
Learn more at www.imperialdade.com

About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. Advent has considerable experience in distribution, having previously supported market leaders such as ABC Supply, MORSCO Inc., Distribution International, Rubix and Caldic. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 22 offices on four continents. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $160 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, visit: www.baincapital.com 

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Taking NFTs beyond collectibles: Freeverse raises €10m Series A

Adara

Freeverse founders Ferran Estalella, Alun Evans, Toni Mateos, and Alessandro Siniscalchi

We’re excited to announce that Freeverse has closed its €10m Series A funding round, less than one year after its €1m Seed raise, to fuel the development of its ‘Living Asset’ (NFT 2.0) technology and a strong go-to-market push.

We first backed Freeverse in July 2021, and we are proud to continue supporting the team alongside our friends at 4Founders Capital, new investors Earlybird Venture Capital and Target Global, and the many others.

Freeverse was founded in 2019 by Dr. Toni Mateos (CTO), Dr. Alun Evans (CEO), Alessandro Siniscalchi (Head of Engineering) and Ferran Estalella (COO/CFO), and is based in Barcelona, Spain.

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Heijmans Acquires Dynniq Energy

Egeria

Heijmans has acquired Dynniq Energy, strengthening its position as an integrated player in the market for the construction and maintenance of energy-related infrastructure. Dynniq Energy is a specialist in the design, construction and upgradation of high, medium and low-voltage power stations for grid managers and household energy connections.

Heijmans’ strategic growth

Energy infrastructure is one of the strategic growth pillars of Heijmans. The Netherlands is facing a major energy transition and this is accelerating the call for reinforcing its electricity grids and the construction of district heating networks. In addition to energy transport, the demand from inner-city areas for energy grid reinforcement as well as capacity expansion and availability of energy is increasing. Heijmans is already active in a multidisciplinary manner in the area of electricity transport and distribution, and thanks to the acquisition of Dynniq Energy is now in an even stronger position. The acquisition of Dynniq Energy – including approximately 100 employees and annual revenue of more than € 30 million – is a logical step in Heijmans’ strategy of accelerated growth in this market.

Heijmans will not be disclosing the financial details of the transaction. The acquisition is still subject to approval by the Dutch Consumers and Markets Authority (ACM). As soon as approval is obtained, the acquisition will be effective. Each Works Council has already given their respective approval for the agreement.

Integrated player

“Dynniq Energy’s knowledge and expertise will strengthen our position as an integrated chain partner for grid operators,” says Heijmans Infra board chairman Bart Smolders. “This acquisition puts us in an even stronger position in this growth market. We are increasing synergies with a party we already work with closely on multiple projects before today. From design to construction and maintenance, from spatial integration to environmental management. Together, we can build and manage  the energy infrastructure chain end to end between source and user,” says Smolders.

Transition to sustainable energy

Heijmans has been building energy infrastructure for various utilities companies for many years. As a specialist in the field of high-quality cable systems, Heijmans ensures that electricity networks are always available. Heijmans also incorporates energy aspects into its design, construction and maintenance activities and ensures energy supply is a fixed part of its area development projects. With the transition to sustainable energy and the increasing use of electric transport and electrical appliances, the energy grid in the Netherlands needs to be expanded and modernised, as to remain reliable.

About Dynniq Energy

With its head office in Moordrecht, Dynniq Energy focuses on improving energy supply. This includes both the distribution of cables and pipelines to districts and households as well as the engineering and construction of stations for high-voltage networks. The company is a recognised player in the improvement of electricity networks to achieve a low-CO2 emission energy economy. The company’s important customers include grid managers such as Liander, Stedin and TenneT. Dynniq Energy B.V. has been an independent player in the Dutch energy market since 2019.

The company was originally part of Imtech Traffic & Infra, which was acquired by private equity firm Egeria in 2015. “The existing partnership with Heijmans in the energy market has created a good foundation for and confidence in the current acquisition,” says Mark Wetzels of Egeria. “As an advisory board, we are extremely proud of what the entire Dynniq Energy team has achieved and we wish them a bright future under the Heijmans banner,” Wetzels adds. “We were already working together successfully and our cultures are a good fit. This is the perfect step to provide our clients with even better support in achieving their strategic objectives,” says Maarten van Raaij, CEO of Dynniq Energy.

About Heijmans

Everyone wants clean air, to live in a nice neighbourhood, to work in a good workplace and to be able to travel safely from A to B. By making things better, more sustainable and smarter, Heijmans is creating that healthy living environment. Jan Heijmans started as a road builder in 1923. Today, Heijmans is a stock exchange-listed company that combines activities in property development, building & technology and infrastructure. In addition to this, we work safely and we add value to the places where we are active. This is how we build the spatial contours of tomorrow together with our clients: www.heijmans.nl/en/

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Equinor signing strategic collaboration agreement with Aibel

Ferd

To ensure a close and long-term collaboration, Equinor and Aibel have entered into a strategic collaboration agreement. The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities.

For several years Aibel has been one of Equinor’s key collaboration partners. As an example they were awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.

“Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Key supplier
Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026. CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety. At the same time he is proud of Aibel being the first company with which Equinor is signing such a strategic agreement.

“Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer and not least more cost-effective deliveries benefitting both parties,” says Andersen.

Aibel has, during the past years, established itself as one of the leading suppliers of offshore converter platforms to be delivered to, i.e., the Dogger Bank A, B and C offshore wind farms in the UK. In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.

Future-oriented
“I am very pleased that we have arrived at this strategic collaboration agreement, and we strongly believe that Aibel is capable of delivering on the ambitious improvement agenda that the companies have formed together. Aibel can provide a large number of the services we need. We also think it is positive to make a stronger commitment to a major Norwegian supplier, which is present in large parts of the country where we also have activities. This collaboration will continue to create ripple effects in Norway,” says chief procurement officer Mette H. Ottøy.

The companies will keep pursuing opportunities for standardisation and simplification in both offshore wind and electrification of oil and gas installations. Across all activities Equinor and Aibel are focusing on raising awareness on climate change in the fabrication phase and supply chain, and reduce emissions. The companies also have a joint ambition of making the activity in North Norway more robust in a long-term perspective.

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Equinor signing strategic collaboration agreement with Aibel

Ferd

To ensure a close and long-term collaboration, Equinor and Aibel have entered into a strategic collaboration agreement. The ten-year agreement aims to ensure predictability, which will be important to both parties in times of many great and important opportunities.

For several years Aibel has been one of Equinor’s key collaboration partners. As an example they were awarded the majority of contracts for further development of mature fields on the Norwegian continental shelf (NCS) in 2020 and 2021. Equinor has contributed to a major share of Aibel’s earnings, and the companies have for several years worked on a joint improvement effort to strengthen safety and efficiency in the projects.

“Equinor has clear ambitions for the energy transition, and we have a high activity level in oil and gas, renewables and low-carbon technologies. Through this strategic collaboration agreement we create security for both parties, giving Aibel an opportunity to get more assignments, while we know that we will be able to deliver our projects with the high quality that Aibel is known for and we depend on to succeed,” says Geir Tungesvik, executive vice president for Projects, Drilling & Procurement.

Key supplier
Aibel is Equinor’s key supplier of maintenance and modification services on offshore and onshore installations. The framework agreement with Aibel on these services was recently extended to March 2026. CEO of Aibel, Mads Andersen, sees the new collaboration agreement as an important step to further develop the companies’ joint improvement agenda, not least in terms of safety. At the same time he is proud of Aibel being the first company with which Equinor is signing such a strategic agreement.

“Aibel and Equinor have for a long time had a close and good collaboration on the NCS, and the new collaboration agreement forms the basis for a long-term continuation of this relationship. The agreement offers Aibel predictability and a better foundation for long-term planning and competence development with less vulnerability to market fluctuations. I am therefore convinced that the agreement will contribute to better, safer and not least more cost-effective deliveries benefitting both parties,” says Andersen.

Aibel has, during the past years, established itself as one of the leading suppliers of offshore converter platforms to be delivered to, i.e., the Dogger Bank A, B and C offshore wind farms in the UK. In addition, Aibel has several times been assigned to perform hook-up of high-voltage systems offshore, such as electrification of Johan Sverdrup and Wisting.

Future-oriented
“I am very pleased that we have arrived at this strategic collaboration agreement, and we strongly believe that Aibel is capable of delivering on the ambitious improvement agenda that the companies have formed together. Aibel can provide a large number of the services we need. We also think it is positive to make a stronger commitment to a major Norwegian supplier, which is present in large parts of the country where we also have activities. This collaboration will continue to create ripple effects in Norway,” says chief procurement officer Mette H. Ottøy.

The companies will keep pursuing opportunities for standardisation and simplification in both offshore wind and electrification of oil and gas installations. Across all activities Equinor and Aibel are focusing on raising awareness on climate change in the fabrication phase and supply chain, and reduce emissions. The companies also have a joint ambition of making the activity in North Norway more robust in a long-term perspective.

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EQT Exeter expands US multifamily team with the acquisition of Redwood Capital Group

eqt

EQT AB (publ) (“EQT”) has reached an agreement to acquire Redwood Capital Group (“RCG”), a residential core plus and value-add investment manager headquartered in Chicago, Illinois, USA, strengthening EQT Exeter’s position as a global leader across sheds, beds and meds.

Strategic rationale

  • As a vertically integrated, geographic- and sector-focused specialist, the combination of EQT Exeter’s multifamily group with RCG will enable expanded deal flow, allowing the combined team to pursue the highest performing opportunities in the US with experienced professionals across 10 offices
  • RCG’s in-house property management expertise will enhance EQT Exeter’s unique vertical integration and provide expanded services to residents; RCG also brings digital analytics to improve investment and asset management decisions
  • Over more than 15 years, RCG has successfully executed 79 transactions in the US, spanning core plus and value-add strategies, and their deep sector expertise and strong reputation, coupled with EQT Exeter’s world-class in-house residential development team, will improve insight on buy versus build decisions
  • EQT Exeter and RCG share similar investment philosophies and operating platforms, including a strong commitment to sustainability; EQT Exeter is developing multifamily buildings that are Fitwel and LEED certified, including the first Fitwel certified residential building in Philadelphia
  • RCG will leverage EQT Exeter’s existing client relationships and broad international platform, including fundraising capabilities, sustainability efforts, and operational strengths
  • As the largest real estate sector in the US, residential is highly scalable, with positive renter demographics and sustainable growth characteristics, resulting in resilient returns

Founded in 2007 by David Carlson and Mark Isaacson, RCG is a vertically integrated, core plus and value-oriented residential investment management firm, deeply experienced in all operating areas, including acquisition, asset management, construction management and property management. RCG, which has approximately 35 corporate employees, has successfully executed 79 multifamily investments in high-growth US markets, including 48 realized investments that achieved in excess of 2x equity returns across more than 22,000 units. RCG investments comprise deal-by-deal joint ventures on behalf of multiple institutional clients, including global fund sponsors, insurance companies and family offices.

The RCG team will combine with EQT Exeter’s existing US multifamily team, complementing EQT Exeter’s immense development capabilities in the space. The EQT Exeter multifamily team, led by Bryan Lamb, has focused on value-add strategies, primarily with development opportunities located in strong medical, educational, and technical hubs across the US.

Together, RCG and the EQT Exeter Multifamily team have completed transactions totaling USD 5 billion GAV, including over USD 1 billion of high-rise, mid-rise and garden-stye development projects. Following this combination, EQT Exeter’s expanded multifamily team will consist of nearly 55 experienced investment professionals, in addition to RCG’s in-house property management team, making EQT Exeter one of the strongest vertically integrated real estate firms. With expertise in acquisitions, asset management, property management and construction and development across 10 US cities, the combination will further EQT Exeter’s local-with-locals offering with dedicated residential expertise. The new group will be led by RCG’s co-founder, David Carlson, who will report directly to Ward Fitzgerald, head of EQT Exeter. The integrated team will build on the existing successful approach of acquiring and developing residential properties across value-add and core plus strategies and intends to pursue diverse residential strategies in sectors including multifamily, student housing, workforce housing and self-storage.

Ward Fitzgerald, Partner and Head of EQT Exeter, said, “I am thrilled to welcome David, Mark and the RCG team to EQT Exeter. RCG’s strong cultural fit, impressive performance, aligned investment approach and similar commitment to sustainability make them the ideal partners as we continue to establish EQT Exeter as a global geo-sector leader across sheds, beds, and meds. Expanding our multifamily offering is a crucial step in our growth, and this combination offers a fantastic opportunity to build on the significant track records of both our firms, as we develop one of the leading residential real estate businesses in the US.”

David Carlson, Co-Founder and CIO of Redwood Capital Group, said, “When Mark Isaacson and I founded RCG over 15 years ago, our goal was to create one of the premier real estate investment management platforms in the industry. We are proud of what our people, track record and culture have allowed us to achieve and believe that with this combination with the EQT Exeter multifamily team, and the backing of EQT AB, we will continue to fulfill that vision”

RCG has approximately 35 full-time employees that will join EQT Exeter and is estimated to generate below USD 10 million in revenues during 2022. The transaction is not deemed to have a material impact on EQT AB’s financial numbers and will not add any assets under management to EQT AB at closing. Closing on the transaction, which is subject to customary closing conditions including third party consents, is expected to take place by Q3 2022.

Disclaimer
This press release contains forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward- looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond EQT’s control, which may cause actual results to differ significantly from those expressed in any forward- looking statement. All forward-looking statements reflect EQT’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, EQT disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has EUR 77 billion in assets under management across 36 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 23 countries across Europe, Asia-Pacific and the Americas and has more than 1,300 employees.

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

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group.

A global leader in sheds, beds, and meds, EQT Exeter currently oversees a portfolio totaling over 350 million square feet across 1,800 buildings, while executing a tenant-centric strategy. The EQT Exeter Team comprises more than 300 experienced professionals operating in 44 offices around the globe. Together, they have consummated over 850 real estate investments. As part of EQT, the team leverages the firm’s industry-leading sustainability credentials and framework and in-house digitalization skills to generate increased value for its investor clients.

About Redwood Capital Group
Established in 2007, Redwood Capital Group has acquired, renovated and repositioned more than 22,000 units encompassing 79 individual multifamily investment properties. RCG has invested in excess of USD 1 billion of equity on behalf of world-class institutions, life companies, global fund sponsors and family offices. RCG has an exceptional track record built on the experience and dedication of their highly competent real estate professionals. The firm’s core plus and value-add investments are sourced in a differentiated set of target cities and regions, backed by a proprietary data-driven model that incorporates up to 24 metrics by market, including multiple demographic trends and a diversified, and durable employment base.

More info: www.redwoodcapgroup.com

Categories: News

New vertically integrated dental chain established in the Netherlands

Bencis

Breda, March 2022

In January 2022 the Clinias Dental Group B.V. (CDG) was established by a
consortium of partners including Bencis.

CDG is a vertically integrated dental chain with the core of its activities based in the
Netherlands and headquartered in Breda (NL). The group has the ambition to
become an international best-in-class provider of dental care across the value chain.

Dental care will be provided to the patients of the group through large scale dental
clinics meeting the highest quality standards and through mobile dental clinics to
patients with no or limited ability to visit our clinics. The (mobile) clinics and their staff
will have access to a broad range of products and services provided from within the
group including but not limited to dental implants, dental laboratory technicians,
micro-biological tests and recruitment and staffing services.

The Netherlands has been one of the leading countries in dental for a long time.
However, the industry in the Netherlands is increasingly facing a shortage of young
talent graduating from university. To make a meaningful impact on the access to and
continuity of high-quality dental care in the Netherlands CDG has established an
international recruitment and education platform to help talent from a variety of
countries to obtain employment in the Dutch dental market.

CDG sees the opportunity to expand its business, besides the organic growth of its
existing organisation, through the acquisition of dental clinics or related businesses
with the current focus on the Netherlands and parts of Germany. The investment of
the current shareholders of the company will help CDG to build the scale required to
further improve quality of care and to safeguard continuation thereof.

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KKR Grows Self-Storage Portfolio With Five New Acquisitions

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of five new self-storage properties totaling approximately 4,100 units for an aggregate purchase price of approximately $98 million. The properties were acquired from four different sellers in three separate transactions and are located in: Phoenix, Arizona; Dallas, Texas; San Antonio, Texas; and Palm City, Florida.

“We continue to expand our portfolio of high-quality self-storage properties across Sunbelt markets that are experiencing strong population growth and in-migration,” said Ben Brudney, a Director in the Real Estate group at KKR. “We track sector fundamentals closely and believe these assets are located in submarkets that are well positioned to benefit from outsized demand over the medium to long term.”

The purchases were made through KKR’s Americas opportunistic equity real estate fund, KKR Real Estate Partners Americas III.

Since launching a dedicated real estate platform in 2011, KKR has grown its real estate assets under management to approximately $59 billion across the U.S., Europe and Asia Pacific as of March 31, 2021. KKR’s global real estate team consists of over 135 dedicated investment professionals, spanning both the equity and credit business, across 13 offices and 10 countries.

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

Media:
Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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