Category Archives: News

Lava Therapeutics announces $83 million series C financing to advance novel gamma-delta T cell engager programs

GIlde Healthcare

Utrecht (The Netherlands) and Philadelphia – Gilde Healthcare company Lava Therapeutics announced the closing of an oversubscribed $83 million (€71 million) Series C financing to fund the advancement of its pipeline and platform. The financing was co-led by new investors Novo Ventures and Sanofi Ventures, and included additional new investors Redmile Group LLC, Ysios Capital and BB Pureos Bioventures. In addition, current investors Gilde Healthcare, Versant and MRL Ventures Fund LLC participated significantly in the round.

“We are grateful to have attracted a high-quality syndicate of new investors complementing strong continued support of our existing investors. This financing provides meaningful capital to advance our bispecific gamma-delta T cell engager portfolio into multiple proof-of-concept clinical trials expected to start in 2021 for the treatment of solid tumors and hematologic malignancies,” said Stephen Hurly, chief executive officer of Lava Therapeutics. “We believe our targeted approach, leveraging the unique features of gamma9-delta2 T cells with innovative bispecific antibodies, will deliver novel T cell-based therapies offering advantages over today’s oncology treatments”.

Gamma-delta T cells are the natural surveillance cells of the immune system, continuously patrolling the human body for the identification and targeting of tumor cells. These cells bridge the innate with the adaptive immune system and are a largely untapped opportunity in cancer treatment. Lava Therapeutics’ bispecific gamma-delta T cell engager platform is harnessing the unique properties of these T cells creating a revolutionary truly tumor-targeted immunotherapy to improve outcomes for cancer patients.

Gilde Healthcare acted as lead investor in the first institutional investment round of €16M in 2018. Gilde Healthcare’s Operational Partner Prof. Dr. Paul Parren is actively involved as Head of R&D.

About Lava Therapeutics

Lava Therapeutics is developing a proprietary bispecific antibody platform that engages gamma-delta T cells for the treatment of hematological and solid cancers. The company’s first-in-class immuno-oncology approach activates gamma delta T cell upon binding to membrane-expressed tumor targets. Lava Therapeutics was founded in 2016 based on intellectual property originating from the Amsterdam University Medical Center. The company has established a highly experienced antibody research and development team located in Utrecht, the Netherlands and Philadelphia, USA. For more information, please visit www.lavatherapeutics.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.

Categories: News

Tags:

Oakley Capital agrees sale of Casa.it to EQT

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has reached an agreement to sell its stake in Casa.it (“Casa”), one of the leading players in the online real estate classifieds market in Italy, to the EQT IX fund (“EQT”). Casa is part of Fund III’s investment in the online classifieds group, Casa & atHome.

Oakley originally invested in the business in 2017, as part of the acquisition of a portfolio of classifieds businesses from REA Group, which comprised Casa.it in Italy and atHome.lu in Luxembourg. Under Oakley’s ownership, Casa has significantly expanded its customer base, now servicing over 14,000 real estate agents with over one million property listings on its website.

Luca Rossetto, CEO of Casa, commented:
“This step comes after a 3-year period of significant change at Casa.it. Our technology platform, brand equity, skills and organisation are now positioning Casa.it to be a much stronger player in the Italian market. I would like to take this opportunity to thank the team at Oakley for its support and valuable contribution over this period, which has been key to the development of the company.”

Mediobanca acted as Oakley’s Financial Adviser in connection with this transaction.

We would like to thank Luca Rossetto and his team for their hard work in successfully developing Casa over the past three years, delivering operational improvements and significant customer growth. Casa has many of the traits that Oakley targets in an investment, as a digital platform with a strong position in a structural growth market, and our partnership has continued Oakley’s successful track record in the digital consumer space.
Peter Dubens
Managing Partner, Oakley Capital

Categories: News

Tags:

KKR Acquires Industrial Distribution Property in Phoenix

No Comments

KKR

Core Plus Real Estate Strategy Adds Third Industrial Asset to Portfolio

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of an industrial distribution property in Phoenix, Arizona for a purchase price of approximately $43 million. The asset is the third industrial property acquired by KKR’s core plus real estate strategy.

The property is a state of the art fulfillment center completed in 2019 and was 100% leased at acquisition to the wholly owned subsidiary of a leading, Investment Grade public company.

“We are pleased to acquire our first industrial property in Phoenix, which is a market with highly attractive fundamentals,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “This is an important transaction for us as we continue to develop and diversify our industrial footprint.”

KKR owns over 14 million square feet of industrial property in strategic locations near major metropolitan areas across the U.S. Since launching a dedicated real estate platform in 2011, KKR has grown real estate AUM to approximately $12.0 billion across the U.S., Europe and Asia as of June 30, 2020. The global real estate team consists of over 90 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

AddSecure confirms acquisition of Dualtech IT

Castik Capital

17.09.2020

Through the deal, European customers will benefit from future-proof, secure and reliable end-to-end solutions. This is of particular importance in view of the forthcoming technological shift and the new alarm transmission EU standard 50136-3 required by 2021.

AddSecure, a leading European provider of premium solutions for secure data and critical communications, has completed an agreement to acquire Dualtech IT AB, a leading supplier of secure IP based alarm communication terminals and innovative services, to strengthen its Smart Alarms’ portfolio, expertise, and market coverage in Europe.

“We are delighted to have reached agreement with a company that has demonstrated consistent innovation and dedication to their customers over a long period of time”, says Stefan Albertsson, CEO of AddSecure.

Dualtech’s experience of digitization is of particular importance with the forthcoming technology shift, i.e. the closing down of 2G and 3G networks that is taking place throughout Europe.

“As the technology shift will take place across Europe, there will be a large number of customers with similar needs around Europe. Dualtech’s platform and experience in the field are therefore of great value to AddSecure”, Albertsson continues.

By combining offerings the companies are also well positioned considering the new alarm transmission EU standard 50136-3 required by 2021, which stipulates that an alarm system must be tested end-to-end, and will be will be able to provide European customers with future-proof, secure and reliable end-to-end solutions.

Dualtech will be part of AddSecure, and the product portfolio will coexist together with  AddSecure’s existing Smart Alarms offering. Future offerings will combine the innovative solutions from both portfolios. The Dualtech founders and staff will continue to drive and grow the market and Dualtech’s solutions portfolio.

“This transaction provides Dualtech customers with an excellent outcome in terms of their ability to access the latest technology and solutions available. It also provides an exciting future for our staff with an expansive growth company”, says Anders Johansson, Managing Director of Dualtech.

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

For more information, please contact:

Kristina Grandin, Corporate Marketing Manager, AddSecure
Mobile: +46 70 689 52 08, kristina.grandin@addsecure.com

About AddSecure

AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 50 000 business customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business.

AddSecure serves customers in the security and safety industry, in building security and automation, in digital care, in transport and logistics, in utilities and smart cities, and more. Customers are provided with solutions within Smart Alarms, Smart Care, Smart Grids, Smart Rescue, and Smart Transport.

The company, founded in the early 1970s, today employs more than 750 staff in 15 countries. AddSecure is headquartered in Sweden, and has regional offices as well as a network of distributors around Europe.
AddSecure is majority-owned by Funds managed by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.

About Dualtech IT

Dualtech IT AB, founded 1999, is a leading supplier of secure and cost-efficient alarm communications solutions. The company provides secure IP based alarm communication terminals and innovative services, and is an appreciated and well-renowned business and technology development partner to leading security industry companies all over Europe.

Dualtech focuses on the ongoing transformation of the security industry to new business models under the umbrella Security as a Service, and has long experience and great knowledge of what the digitalization and transformation means to business

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

The company has its head office in Gothenburg, Sweden, a sales office in Stockholm, Sweden as well as a subsidiary office in Paris, France.

Categories: News

Tags:

Sun Capital Partners Affiliate Invests in Mancini’s Sleepworld

Sun Capital

Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on investing in market-leading companies, today announced that its affiliate has made an investment in Mancini’s Sleepworld (“Mancini’s” or “the Company”), a mattress retailer serving the Northern California market. Terms of the private transaction were not disclosed.

Founded by the Mancini family in 1969, Mancini’s Sleepworld sells leading brand mattresses and other sleep products such as adjustable bed frames. Randy Mancini, a second-generation owner, has built the successful business to approximately 33 locations throughout the Bay area.

“Mancini’s is in Sun Capital’s sweet spot: a family-owned business in an industry that Sun Capital knows well and where we have had a track record of success,” said Marc Leder, Co-CEO of Sun Capital. “The Company’s success is a testament to Randy Mancini and Marc Fey’s hard work and business acumen, and we appreciate their trust in Sun Capital’s ability to partner with them in growing the business.”

The U.S. bedding industry has grown by approximately 4% annually over the past 20 years and Mancini’s has consistently outperformed this benchmark.

“I have been impressed by Sun Capital’s ability to support the business and its management team to help navigate the current environment, where we are open for business,” said Randy Mancini. “Sun Capital’s focus on supporting sales growth and leveraging its experience and confidence in mattress retailing will be invaluable to the company going forward.”

Sun Capital has extensive experience in the mattress industry through its current investment in Dreams, the U.K.’s leading bed and mattress specialist and previous investments in U.S. mattress retailer Mattress Firm and foam mattress manufacturer, Innocor.

“Sun Capital looks forward to partnering with Marc Fey, who has been promoted to CEO of the company, Randy Mancini, Chairman of the Board, and the rest of the management team, including the impressive sales professionals who do such an excellent job serving Mancini’s customers,” said Matthew Garff, Managing Director at Sun Capital. “We see significant opportunity to benefit from Mancini’s strong reputation to grow sales in-store and via e-commerce as well as to expand Mancini’s geographic footprint.”

About Sun Capital Partners, Inc.

In 2020, Sun Capital Partners, Inc. celebrates 25 years of investing; identifying companies’ untapped potential; and accelerating value through operational excellence. Since 1995, Sun Capital has invested in more than 375 companies worldwide with revenues in excess of $50 billion across a broad range of industries and transaction structures. Over the quarter century, the Firm has built a reputation as a trusted partner recognized for its investment and operational experience, including particular expertise in Business and Consumer Services, Healthcare, Industrial and Consumer sectors. Sun Capital has offices in Boca Raton, Los Angeles and New York, and an affiliate with offices in London.

Contacts

Emily Meringolo
Stanton
646-502-3559
EMeringolo@StantonPRM.com

Categories: News

Tags:

ECI announce investment in predictive analytics software business Mobysoft

ECI

ECI Partners, the leading growth-focused mid-market private equity firm, has invested in Mobysoft, a Manchester-based predictive analytics software provider to the social housing sector.

The partnership will support Mobysoft’s continued growth as it expands its predictive analytics product suite and continues to invest in people.

Mobysoft’s flagship product, Rentsense, processes payment patterns for more than 1.7m social housing properties each week. The software uses cloud-based predictive analytics to provide recommendations and optimise workflows for over 140 social housing providers. Customers use RentSense to reduce income officer workload and ensure tenants are receiving the support they need.

Alexander Karle, CEO of Mobysoft said: “We are delighted to partner with ECI to deliver future growth for the business and further support social housing providers and their tenants. For Mobysoft and our customers, this partnership means that we will accelerate investment into new products and services while continuing to strengthen our existing products. ECI has a strong track record supporting fast-growing software businesses and we are excited about the opportunity ahead.”

Derek Steele, Founder and Chief Innovation Officer at Mobysoft said: “The next phase of investment with ECI will further strengthen our products and organisation. We will further expand our team and invest in predictive analytics solutions that support social housing providers in delivering efficiencies and providing services to the communities they serve.”

Stephen Roberts, Investment Director at ECI, said: “We are delighted to be partnering with Alex, Derek and the team. Mobysoft is a market leading software business at an exciting stage of its development, led by an ambitious and high-calibre management team. We are looking forward to working with the business to help deliver the next phase of growth.”

Categories: News

Tags:

Ardian Expansion closes fifth generation fund at €2Bn

Ardian

  • 16 September 2020 Expansion Paris, France

• Ardian Expansion team has doubled the size of its previous fund
• Objective: back ambitious management teams of high-growth mid-sized businesses across Europe

Paris, September 16th, 2020. Ardian, a world leading private investment house, today announces it has raised €2 billion for its latest Expansion fund, Ardian Expansion Fund V. Despite a backdrop marked by the Covid-19 outbreak, Ardian has doubled the size of its previous fund in six months, highlighting investors’ continued interest in European high-growth mid-sized companies.

Ardian Expansion Fund V attracted a global and diverse investor base. Investors from the previous generations of the fund represent 50% of Fund V, highlighting their long-term trust in the team, while more than a third of the fund’s investors are new to Ardian, also showing the attractiveness of the product. The fund expanded its geographic reach by attracting new investors, notably from Asia and the Middle East.

The fund is also broadening its investor profile, welcoming for the first time sovereign wealth funds, alongside insurance companies, high-net-worth individuals and pension funds. Several managers of Ardian Expansion’s portfolio companies also made commitments, which amount to nearly 5% of the size of the fund, illustrating the quality of the relationships built over the years.

Made of 27 professionals, Ardian’s Expansion team based in Paris, Frankfurt, Milan and Luxembourg, will strengthen the implementation of its successful strategy: to support talented entrepreneurs in pursuing their organic growth plans – Ardian Expansion’s portfolio companies achieved over 10% organic growth historically – and external – nearly four acquisitions in average per company – while enhancing their strategic value by accelerating their transformation plans.

François Jerphagnon, Head of Ardian Expansion, said: “We are honored by the trust shown by our investors. Doubling the size of the previous generation in six months demonstrates the success of our strategy and the quality of our financial performance. This success also underpins the interest in the investment philosophy we have built over the last 20 years: to focus on developing strong relationships with experienced and dedicated management teams, leveraging the Ardian’s network to fasten value creation for all stakeholders.”

Ardian’s Expansion team is focused on building long-term relationships with management teams, on average initiated three years prior to investments. The team is able to take either minority or majority stakes emphasizing its flexible approach. Expansion team’s philosophy is also reflected in the team’s strong track record of supporting management teams on digital and sustainability transformation plan. Ardian backs both digital transformation plans, such as for Diam and CCC, as well as established digital native players, such as CLS and Berlin Brands Group. Pioneer in the concept of sharing value, Ardian and the Expansion team distributes part of its capital gain to all employees of its portfolio companies at exit. Nearly 15 Expansion portfolio companies have benefited from the value sharing initiative since the mechanism was introduced more than ten years ago.
Despite the economic slowdown due to the Covid-19 outbreak, Ardian Expansion’s team has maintained an active investment pace in 2020. Expansion team has focused on companies displaying strong organic and external growth and operating in resilient sectors. The Fund is already deployed at 10% with two investments completed since May 2020: Swissbit (signed during the lockdown period), a Swiss provider of NAND flash-based storage and embedded IoT solutions for demanding niche applications with considerable organic growth potential, and Finaxy (signed in July), a leading French multi-specialist insurance broker with a strong track-record of organic and external growth. Management team involvement was also key in the completion of those transactions.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 690 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

PRESS CONTACT

Ardian – Headland

Carl LEIJONHUFVUD

CLeijonhufvud@headlandconsultancy.com +44 (0)20 3805 4827

Categories: News

Tags:

Main Capital acquires majority stake in German E-Government Software Specialist MACH AG

Main Capital

Düsseldorf, September 15, 2020 – Software investor Main Capital acquires a majority stake in Lübeck-based MACH AG, a market leading software vendor for the German government sector with EUR 44m in revenues and more than 400 employees. The founding family Müller-Ontjes remains on board as active owner. With its comprehensive product portfolio and deep sector expertise, MACH is a frontrunner in providing digital services and solutions to German governmental bodies. Joining forces with Main will allow MACH to profit from Main’s long-standing expertise in the government software market and further leverage its sector expertise.

MACH was founded in 1985 and has since then build up extensive knowledge and an entrenched market position in the highly attractive German government sector, exhibiting significant market entry barriers. From its six German offices and with more than 400 employees, the company serves 10,000+ public institutions in Germany. MACH provides its solutions to all government levels (federal, state, and municipality), educational and research institutions as well as churches and welfare organizations, serving notable customers such as the Bundesverwaltungsamt (federal administration office), the federal police and various federal states (e.g. Saarland, Rheinland-Pfalz, Thüringen).

MACH provides a comprehensive solution and service portfolio that allows its clients to digitize their key administrative and financial processes. The core solution is a financial management module which is compliant with all relevant accounting systems used in the German public sector. Currently, more than half of the payments at federal state level are supported by MACH’s financial management solution and the company’s clients regularly cite MACH’s stringent focus on requirements of public administrations as a key advantage over more generalist software offerings.

To herald the next growth phase, a joint strategy will focus on extending the company’s product and technology offering while further expanding its vertical coverage with organic as well as inorganic initiatives. This will be crucial to position the company for the new market dynamics following from recent regulatory initiatives introduced by the German government such as the Online Access Act.

With investments in Exxellence group (public sector, Netherlands), SDB group and Alfa, (healthcare in Netherlands and Sweden) the investment in MACH AG in the German public sector is considered as strategic by Main.

Sven van Berge Henegouwen, Partner in Germany, states: “Since 2016, we have been in regular contact with MACH and are very pleased that the company has opted for Main Capital as their strategic partner to initiate a new growth chapter. We are convinced that together we will succeed in further expanding the pivotal role that MACH already plays in the digitization of the public administration in Germany. Our goal is to assist MACH in becoming the leading digitization partner for the public sector.”

Rolf Sahre, CEO of MACH AG, adds: ” Current topics such as the German government’s economic stimulus package, the implementation of the Online Access Act and future-oriented topics such as Smart City and Artificial Intelligence offer great opportunities to continue MACH’s growth path. After a thorough selection process, we have chosen Main Capital Partners as one of the leading investors in the B2B software sector in Northwest Europe. In addition to the valuable industry experience, we were convinced by Main’s long-term investment approach, which is based on a partnership with the founders and the management team as well as MACH’s continued independence. Partnering with Main will allow us to leverage our full potential and improve our innovative strength to continuously support the public administration as a strong and reliable partner.”

About MACH AG

Digitization of paper files, more transparency in the financial budget or modern personnel processes – MACH AG has been supporting public administrations in digitization projects since 1985. With deep sector know-how and our own software, we strengthen our customers in the long-term – and thus Germany. More than 100,000 users in federal and state authorities, church administrations, educational and research institutions and NGOs rely on our solutions on a daily basis. These institutions benefit from our holistic approach because MACH provides a one-stop solution for software, consulting and execution. Further information is available at www.mach.de.

About Main Capital Partners

Main Capital Partners is a strategic investor with an exclusive focus on the software sector in the Benelux, DACH and Nordics regions. Main has a long-term investment horizon centered around successful partnerships with management teams, with the goal to jointly build larger software groups. Main has approximately € 1 billion in assets under management for investments in mature and growing software companies.

The current portfolio of Main Capital includes rapidly growing software- and SaaS software companies like Alfa (healthcare), WoodWing (content management), Exxellence Groep (public sector), Optimizers (supply chain software), Assessio (talent management), GBTEC (GRC software), Onventis (procurement software), HYPE Innovation (enterprise innovation software), Cleversoft (Regtech software), Enovation (healthcare), SDB Groep (healthcare), Jobrouter (BPM software), GOconnectIT (GIS software), Inergy (business intelligence), MUIS Software (bookkeeping and ERP software), Artegic (marketing automation), OBI4wan (CRM software), b+m Informatik (financial services software), ChainPoint (suppy chain software) and RVC (healthcare). Successful former companies that have grown substantially under the guidance of Main are: Connexys (HR software), Roxit (public sector), Axxerion (facility management software) and Ymor (APM software). More information at www.main.nl

 

Contact Main Capital Netherlands
Charly Zwemstra (Managing Partner)
Tel: +31 (0) 70 324 3433 / +31 (0) 6 5127 7805
e-mail: charly@main.nl

Contact Main Capital DACH
Sven van Berge Henegouwen (Partner)
Tel: +49 173 4823712
e-mail: sven@mainsoftware.de

Categories: News

Tags:

DIF Capital Partners to acquire stakes in two Portuguese availability PPP roads

DIF

DIF Capital Partners, through DIF Infrastructure VI, is pleased to announce it has reached an agreement to acquire a 49% stake in the Norte Litoral and a 48% stake in the Via do Infante availability PPP roads from Cintra, a subsidiary of Ferrovial. Closing of the transaction is subject to customary approvals from Portuguese authorities and lenders.

Through other funds under its management DIF Capital Partners controls the remaining 51% stake in Norte Litoral as well as a 49% stake in Via do Infante, stakes it acquired from Cintra in 2016.

Via do Infante (A22) is a 133 kilometer motorway concession between Lagos and Castro Marim in the South of Portugal. This concession was awarded in 2000, with the contract running until 2030. Norte Litoral (A28 and A27) is a 113 kilometer motorway concession between Porto and Caminha, and from Viana do Castelo to Ponte de Lima, in Northern Portugal. This concession was awarded in 2001, with the contract running until 2031. Both concessions benefit from availability payments which represent ca. 95% of revenue. Cintra will continue to provide the management services for both roads.

Fernando Moreno, partner at DIF Capital Partners, said: “We are very pleased with the addition of these critical and robust road assets to the DIF VI portfolio. Given their structure, the projects have continued to demonstrate strong performance despite the Covid-19 crisis.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in projects with long-term contracted or regulated income streams including public-private partnerships (PPP/PFI/P3), concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy and transportation sectors.

DIF Capital Partners has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

Share

 

Categories: News

Tags:

GI Partners Joins Charlesbank Capital Partners to Accelerate Growth at American Residential Services

Charlesbank

American Residential Services (ARS), the nation’s largest provider of residential heating, ventilation, air conditioning (HVAC) and plumbing services, announced today that GI Partners, a leading private investment firm, is making a majority investment in the company. Existing investor Charlesbank Capital Partners (Charlesbank) and management are also making significant new investments in the business.

Based in Memphis, Tennessee, ARS operates a network of more than 70 locally managed service centers in 23 states, with approximately 6,500 highly talented employees and the largest team of HVAC technicians and plumbers in the U.S. The company is dedicated to providing exceptional customer service, with an emphasis on highly skilled employees, state-of-the-art technologies including smart home and remote diagnostics, 24/7 service and a 100% money-back guarantee. It operates under the well-known national brand ARS, as well as through trusted local brands in select markets, while capitalizing on differentiated relationships with leading national retailers.

“We welcome GI Partners, our new majority partner, and are excited to work with them to build upon the considerable momentum in the business and execute on our growth opportunities,” said Dave Slott, CEO of ARS. “The GI Partners team brings deep services investment experience and operational and technological expertise that will provide significant opportunities for ARS’s employees while enhancing the customer experience. As we enter this next chapter of our evolution, we are also thrilled to continue our successful partnership with Charlesbank and are confident that these investments will accelerate our pace of both organic growth and M&A.”

Hoon Cho, Managing Director at GI Partners said, “We have great appreciation for the business that the team has built and have been impressed by the growth and resiliency evidenced by the Company to date. We are very excited to partner with management and Charlesbank to accelerate positive change and execute on the significant opportunities ahead.”

Jeff Sheu, Managing Director at GI Partners, added, “We look forward to collaborating with ARS and Charlesbank to aggressively expand ARS’s national footprint both organically and by acquiring best-in-class operators to strengthen ARS’s leading market position. We will remain committed to accelerating growth by deepening our strong relationships with customers, partners, and employees.”

Andrew Janower, Managing Director at Charlesbank, commented, “We appreciate the dedication of the senior leadership team since our initial investment in 2014, and we look forward to continuing to partner with them for the next phase of ARS’s growth as a national leader in the residential HVAC industry. We are especially grateful for the continued commitment of ARS’s front-line employees and technicians, who have worked tirelessly to provide outstanding uninterrupted service to consumers across the country through the COVID pandemic.”
The transaction is expected to close in the fourth quarter of 2020, subject to customary closing conditions and regulatory approvals.

About American Residential Services
As an Exceptional Service Provider, ARS serves both residential and light commercial customers by providing heating, cooling, indoor air quality, plumbing, drain cleaning, sewer line, radiant barrier, insulation, and ventilation services. The ARS Network features industry-leading brands including, A.J. Perri, Aksarben ARS, Allgood, Andy’s Statewide, ARS, Aspen Air Conditioning, Atlas Trillo, Beutler, Blue Dot, Brothers, Columbus Worthington Air, Comfort Heating & Air, Conway Services, Efficient Attic Systems (EAS), Florida Home Air Conditioning, Green Star Home Services, McCarthy Services, Proserv, Rescue Rooter, RighTime Home Services, RS Andrews, The Irish Plumber, Unique Services, “Will” Fix It, and Yes! Air Conditioning and Plumbing. For more information, please visit www.ars.com.

About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised over $23 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information, please visit www.gipartners.com.

About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm managing more than $7 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.

Categories: News

Tags: