Category Archives: News

Acceptance period for Zorro Bidco’s public delisting tender offer for all outstanding zooplus shares commences

eqt

Acceptance period for delisting offer runs from 24 November 2021 to 12 January 2022

Offer price of EUR 480 per share in cash corresponds to cash consideration of the preceding voluntary public takeover offer by Zorro Bidco

More than 89 percent of zooplus’ total shares have already been tendered into the takeover offer

Delisting offer is not subject to any closing conditions and there will be no additional acceptance period

24 November 2021 – London & Munich –Hellman & Friedman LLC (“Hellman & Friedman” or “H&F”) and the EQT IX fund (“EQT Private Equity”) today announced that the offer document for the public delisting tender offer (the “Delisting Offer”) has been published by Zorro Bidco S.à r.l. (“Zorro Bidco”), a holding company controlled by funds advised by H&F, for all outstanding shares (ISIN: DE0005111702) of zooplus AG (“zooplus” or the “Company”) that are not already held by Zorro Bidco.

zooplus shareholders can tender their zooplus shares into the Delisting Offer at a price of EUR 480 per share in the Delisting Offer tender period which starts today and ends at midnight (CET) on 12 January 2022. This consideration corresponds to the offer price of the preceding voluntary public takeover offer by Zorro Bidco (the “Takeover Offer”), which ended on 22 November 2021.

At the end of the additional acceptance period of the Takeover Offer on 22 November 2021, more than 89 percent of zooplus’ total shares have been tendered into the Takeover Offer. This percentage rate may increase further as a result of additional bookings of tendered shares. The final result of the Takeover Offer will be published on www.hf-offer.com on 25 November 2021.Final settlement of the Takeover Offer is expected to be concluded by 6 December 2021.

Hellman & Friedman and EQT Private Equitystrongly believe that zooplus would benefit from being a privately held company. It would be better positioned to focus on longer-term objectives, no longer subject to the short-term expectations of the capital market and the regulatory requirements of a listed company. Subject to their review of the offer document, the Management Board and the Supervisory Board of zooplus intend to support the Delisting Offer.

The relevant details as to how the Delisting Offer can be accepted are set out in the offer document for the Delisting Offer. Shareholders should inquire with their custodian bank for any relevant deadlines that may require actions in accordance with the Delisting Offer. There will be no additional acceptance period, so that the Delisting Offer will close on 12 January 2022, subject only to such exceptions as are set out in the offer document for the Delisting Offer which may result in an extension of the acceptance period. The Delisting Offer is not subject to any closing conditions.

The partnership between Hellman & Friedman and EQT Private Equity to finance the Takeover Offer, which was announced on 25 October 2021, also includes the financing of the Delisting Offer. EQT Private Equity intends, subject to required regulatory approvals and other conditions, to become a jointly controlling partner with equal governance rights in a parent of Zorro Bidco.

Zorro Bidco and zooplus have entered into an Investment Agreement under which zooplus, subject to certain conditions, agreed to apply for the revocation of the admission to trading of all zooplus shares on the regulated market of the Frankfurt Stock Exchange and to request the termination of the inclusion of the zooplus shares in the tradingin the sub-segment Berlin Second Regulated Market of the Berlin Stock Exchange (Wertpapierbörse Berlin) and on the open market in Dusseldorf, Hamburg, Hannover, Munich and Stuttgart as well as via the Tradegate Exchange. Following a successful delisting, zooplus shares will not be available for trading on the regulated market and in the electronic trading system (XETRA) of the Frankfurt Stock Exchange. Trading of the zooplus shares in the sub-segment Berlin Second Regulated Market of the Berlin Stock Exchange (Wertpapierbörse Berlin) will also end. This may detrimentally affect the ability to trade zooplus shares and the price at which zooplus shares are traded.

The publication of the offer document for the Delisting Offer has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). The offer document and a non-binding English translation are now available at www.hf-offer.com. Copies of these documents can also be obtained free of charge at BNP Paribas Securities Services S.C.A., Frankfurt Branch, Europa-Allee 12, 60327 Frankfurt am Main, Germany (inquiries by fax to +49 69 1520 5277 or email to frankfurt.gct.operations@bnpparibas.com).

-Ends-

For further information, please contact:

For H&F
Regina Frauen
Phone: +49 160 8855105
Email: regina.frauen@fgh.com

Christian Falkowski
Phone: +49 171 8679950
Email: christian.falkowski@fgh.com

For EQT
Isabel Henninger
Phone: +49 174 940 9955
Email: eqt-offer@kekstcnc.com

Finn McLaughlan
Phone: +44 77 1534 1608
Email: eqt-offer@kekstcnc.com

Important notice:

This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in zooplus AG. The terms of the public delisting tender offer, as well as further provisions concerning the public delisting tender offer, are published in the offer document, the publication of which has been approved by the German Federal Financial Supervisory Authority (BaFin). Investors and holders of shares in zooplus AG are strongly advised to read the offer document and all other relevant documents regarding the public delisting tender offer, since they will contain important information.

The public delisting tender offer has been issued exclusively under the laws of the Federal Republic of Germany, in particular according to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz), the German Stock Exchange Act (Börsengesetz) and certain applicable provisions of the U.S. Securities Exchange Act. Any contract that is concluded on the basis of the public delisting tender offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.

Categories: News

Booking Holdings enters into agreement with CVC Capital Partners to acquire Etraveli Group

CVC Capital Partners

Acquisition will complement Booking Holdings’ ongoing work to build a frictionless global flights offering

Booking Holdings Inc. today announced that it has entered into an agreement with funds managed by CVC Capital Partners (“CVC”) to acquire global flight booking provider, Etraveli Group, for approximately €1.63 billion. Completion of the acquisition is subject to certain closing conditions, including regulatory approval.

Already a partner of Booking.com – helping power its existing flight product – the acquisition of Etraveli Group will complement Booking Holdings’ ongoing work to build a frictionless global flights offering to deliver on the company’s overall mission to make it easier for everyone to experience the world.

“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” said Booking Holdings’ Chief Executive Officer, Glenn Fogel.

“Booking Holdings pioneered the travel space more than two decades ago and they continue to pave the path forward by developing solutions to create seamless travel experiences,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “We have had a fantastic time together with our current owner CVC, establishing Etraveli Group as a global provider of attractive flight options at affordable prices. Today is a day of recognition, as well as marking a new phase in our relentless urge to improve further. We are thrilled to become a part of Booking Holdings, and we look forward to the next chapter of our own development as we continue to enhance the flight booking experience for our customers and partners worldwide.”

“Mathias and his team have built a world-leading platform for selling flights. Joining the Booking Holdings family is a logical step in Etraveli’s journey. We wish them all the very best and bon voyage!” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC.

Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings, led by their current management team.

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BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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Active Capital Company expands Buy-and-Build-Platform SchahlLED Lighting

ActiveCapital

The Future of Industrial Lighting is Intelligent, Efficient, and Digital

SchahlLED Lighting, a leading provider of intelligent digital lighting solutions for industry and logistics, completes its second add-on of the year with the acquisition of LED Technics Germany (LTG). The acquisition is part of an ambitious growth strategy by Active Capital Company (ACC) ─ SchahlLED’s investor ─ to create a key player in the market for sustainable, intelligent, and digital industrial lighting. Expanding the business by acquiring add-ons as sales hubs throughout Germany is part of that strategy.

“With unprecedented price hikes in the energy sector and a growing need for more sustainable resource management, the demand for intelligent LED lighting solutions is on the rise“, says Hartwig Ostermeyer, Investment Director and Managing Director at ACC in Germany. SchahlLED Lighting solutions provide highly efficient digital control functionalities that facilitate a significant reduction in cost, especially in industrial and logistics applications. Energy savings of up to 95 percent are possible, and far exceed the savings generated by the switch to LED technology alone. CO2 emission is also significantly reduced. The switch makes sense environmentally and, in light of increasing emissions prices, financially as well. Hartwig Ostermeyer: “Since we acquired SchahlLED in 2019, we have transformed the company into an efficient buy-and-build platform that is capable of quickly integrating add-ons. In LED Technics Germany, we have found a partner that fits the bill perfectly with highly efficient, user-friendly LED lighting solutions and digital sales channels.”

About Active Capital Company

Active Capital Company (ACC) is an investment company with offices in Amsterdam and Munich and invests in small and medium-sized businesses headquartered in the Netherlands or Germany with revenues between €10M and €100M. ACC was founded and inspired by entrepreneurs with a passion for industrial environments. With a hands-on approach, ACC develops its investments through three main drivers: geographic expansion, sustainability and innovation.

About SchahlLED Lighting GmbH

SchahlLED is a turnkey service provider of intelligent LED solutions for the industrial and logistics sectors with more than 50 years of lighting and 20 years of LED experience. The company is based in Unterschleißheim near Munich and is active in Germany, Austria, Switzerland and Poland. As both manufacturer and full-service provider, SchahlLED plans lighting concepts and supplies intelligent LED lighting systems. With an extensive network of sales and service partners in Germany, Austria, Switzerland and Poland, SchahlLED completes more than one hundred projects annually. For more information, visit www.schahlled.de.

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BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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AnaCap invests in German FinTech fintus, a leading provider of low-code software for the Financial Services sector

Anacap

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announces a majority growth investment into German FinTech fintus GmbH (“fintus”), one of the leading low-code software providers in the Financial Services sector.

AnaCap will partner up with fintus Founder & CEO Benjamin Hermanns and provide significant growth capital, financial sector & technology expertise as well as operational support, as fintus continues its ambitious growth strategy by solidifying its strong position in the DACH region and expanding its low-code banking platform (“fintus Suite”) across Europe. The fintus team will also benefit from significant investment in talent to expand operational capacity and drive sales.

Fintus was founded in 2017 in Frankfurt and has since successfully positioned itself as one of the leading German Software-as-a-Service (“SaaS”) providers for the automation and digitalisation of the financial services sector. Today, the company’s clients already include a double-digit number of Tier 1 to 3 banks and other sophisticated financial services companies, who use its powerful fintus Suite to automate and streamline complex lending processes (from initial contact with customers to assisting with credit decisions and portfolio management), thereby reducing costs and improving overall customer service. In FY’2021, fintus has grown more than 150% year-on-year and is extremely well placed for 2022, with a strong pipeline of new recurring SaaS contracts.

The fintus technology complements existing, core banking systems and enables its customer base to use the low-code platform in an agile and flexible manner to position themselves well in relation to both retail and commercial customers.  The easy management and customisation of processes is seamless, with the software interfaces and integration of all available banking information and data broken down into a single, simple and easy to use platform.

The DACH region is well known to AnaCap with the investment in fintus following the recently completed acquisition of WebID Solutions in September of this year, another FinTech company providing leading digital identification solutions to blue-chip German corporates and financial institutions, and an existing technology partner of fintus. These recent acquisitions follow the already successful trajectory of another portfolio company MRH Trowe (“MRHT”), with eleven bolt-on growth acquisitions made to date as part of an accelerated buy-and-build strategy in the large and fragmented German corporate insurance broking market.  AnaCap will further leverage its experience from its highly successful buy-and-build strategy for payments company heidelpay (now “Unzer”) across the region and subsequent successful exit to KKR.

Benjamin Hermanns, CEO and Founder at Fintus commented:

“We have had multiple enquiries recently and have been delighted with the interest shown by prominent investment companies. It was very important for us to find a partner who has a strong entrepreneurial mindset and understands software, the financial services industry and FinTech alike. We have found in AnaCap an ideal partner to support the pan-European growth of fintus, leveraging our impressive track record in recent years which we attribute to the commitment of our employees and customers alike.”

 

Tassilo Arnhold, Private Equity Partner at AnaCap, added:
“We are thrilled to be partnering up with Ben and the team to help drive the next chapter of fintus’ exciting growth story – since its inception in 2017, fintus has managed to win an impressive list of blue-chip SaaS clients, leading to a triple digit annual growth historically. While there is significant room to grow in the DACH market, we also see huge potential in scaling the business across Europe, given the multi-lingual and low code nature of the fintus software.  We will invest significant capital to build-out the management and business development team further, while also introducing new distribution channels and exploring opportunistic buy-and-build strategies as well, in line with our other successful DACH investments”

On this transaction, fintus’ shareholders were exclusively advised by IEG – Investment Banking Group (corporate finance) and act AC Tischendorf (legal), whereas AnaCap received advice from GCA Altium (corporate finance), Proskauer Rose (legal advice – London) and Norton Rose Fulbright (legal advice – Munich). The transaction is subject to the usual closing conditions.

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Aibel wins major contracts with Equinor

Ratos

Aibel has signed four contracts with Equinor valued at approximately NOK 5 billion, including option clauses.

The contracts are based on the long-standing partnership between Aibel and Equinor as well as Aibel’s strong competitiveness. They entail a continued multi-year investment in Aibel’s Norwegian organisation, primarily in Haugesund, Harstad, Asker and Stavanger.

For further information:

https://aibel.com/news/aibel-signed-four-new-equinor-contracts

Christian Johansson Gebauer
Board member of Aibel and President Business Area Construction & Services, Ratos
+46 8 700 17 00

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Fortino Capital to lead €3m Seed round in EdTech start-up Peers, which aims at closing the employee skill gap in Europe

Fortino Capital

Amsterdam / Berlin, 23.11.2021 – To accelerate its growth trajectory, Peers has completed an oversubscribed €3 million Seed round. The Seed round is led by Benelux-based, B2B software investor Fortino Capital, alongside Berlin-based, female founder investor Auxxo, and Seed + Speed Ventures (part of the Maschmeyer Group). TRUMPF Ventures and various Business Angels are also joining the round.

According to the World Economic Forum, 50 percent of employees will need new or different skills in the next four years. Meanwhile, corporate learning and development is often cumbersome, not tailored to employees’ needs, and ultimately ineffective. Berlin-based Peers Solutions has developed a solution that creates individual learning programmes for any employee within five minutes. Peers’s ambition is to develop the smartest and fastest learning path generator that can service the majority of the workforce of medium sized and large businesses across Europe.

“Today, continuous learning is a crucial factor for business success. Peers is very well positioned to support companies in bridging their employees’ skill gaps with a solution that defines individualised learning and development trajectories across professions and industries, and which has proven to be highly effective and strongly appreciated by its users.” Wouter Goossens, Investment Director at Fortino Capital Partners

 

Individualized training at the push of a button

At the core of the start-up is its AI-powered learning path generator SELENA. SELENA creates individualised learning and development programmes for thousands of users in a matter of minutes. To do this, SELENA identifies the users’ learning needs and finds suitable learning offerings that are already on the market, paired with content from the respective company.

At the same time, employees record their actual and target skills in line with their job profile. The data for these target skills is based on ESCO, a database of the European Commission with over 12,000 skills. The learning units include theoretical, practical, digital, and face-to-face content, and are delivered by partners such as the Haufe Akademie, Pink University, TÜV Rheinland, and others. Managers, HR staff, and learners can track their success directly on the Peers learning platform.

“Developing individual learning programs manually costs us months. Peers is the extended arm of personnel development, which we use to train our employees faster and in a more targeted manner.” Kerstin Kägler, Head of Corporate HR Learning & Development TRUMPF GmbH + Co. KG

Founder and CEO Elisa Hertzler and co-founder Dr. David Topf spun Peers off from within TRUMPF, the high-tech company that is also invested through TRUMPF Venture. Peers is therefore firmly anchored in industrial and medium-sized businesses. By now, the solution is also used by large companies in real estate, the services industry, and other industries – with great success.

“We want to enable everyone to reach their full potential, regardless of their background, age or the company they work for. Individualised and transparent training is crucial for this.” Elisa Hertzler, Founder CEO Peers Solutions GmbH

 

About Peers Solutions

Peers is a globally unique learning platform for individualized training at your fingertips. Based on artificial intelligence, the start-up identifies learning needs and finds suitable learning offers from the market, supplemented by their customers’ own content. The start-up was founded in 2019 by Elisa Hertzler and Dr. David Topf.

www.peers-solutions.com

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AddSecure to acquire Swiss telematics provider LOSTnFOUND

Castik Capital

Customers across Europe will benefit from a broader offering of telematics, location tracking, and fleet management solutions, whilst AddSecure strengthens its position as a leading European IoT provider.

AddSecure, a leading European provider of secure IoT connectivity solutions with a focus on secure critical communications and secure data, today announced the acquisition of LOSTnFOUND, a Swiss-based provider of location tracking and fleet management solutions.

Through the acquisition AddSecure expands its footprint into Switzerland and Austria, and further strengthens the company’s market leading position within transport and logistics in the DACH region.

“I look forward to welcoming LOSTnFOUND into the AddSecure Group. This acquisition delivers on our strategy of becoming the leading provider of fleet and transport management solutions in Europe and will add complementary telematics and tracking solutions to our business. We believe this acquisition will help us serve our customers in an even better way today and in the future,” says Claes Ödman, President of Smart Transport at AddSecure.

With LOSTnFOUND on board, AddSecure adds additional telematics experience and gains sales and marketing capabilities. In addition, LOSTnFOUND brings a strong customer base and market presence.

For LOSTnFOUND the acquisition is an opportunity to join a market leading and expanding European provider. It will also allow both companies to speed up technology development, improve cost efficiency and create new revenue streams.

“This deal brings together two European market leaders to create an even stronger portfolio and will enable customers from across Europe to benefit from new solutions, new levels of product functionality, and complementary service offerings,” says Daniel Thommen, Managing Director of LOSTnFOUND.

Swiss LOSTnFOUND AG was founded in 2009 and has subsidiaries in Germany and France, support centers in Austria, and developers in Poland. The founders and managing directors of the LOSTnFOUND group will continue to be jointly responsible for the further development in the respective markets in the new constellation and will also actively participate in the further development in the new structure. The acquisition and integration into the AddSecure Group will be completed by the beginning of 2022.

For more information, please contact:

Daniel Thommen, CEO, LOSTnFOUND AG
Phone: +41 (0) 44 500 40 95, presse@lostnfound.com

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

About LOSTnFOUND AG and fleet.tech

The Swiss group LOSTnFOUND AG develops and operates telematics and Internet of Things solutions for companies in the logistics and commercial vehicle industry. fleet.tech is a LOSTnFOUND brand and promotes various telematics solutions. The twelve-language fleet.tech telematics solutions are used daily by more than 1,000 customers. LOSTnFOUND developed its first solution in this area in 2009 and is now one of the leading providers in this market. Its products have repeatedly been awarded international innovation prizes in recent years.

About AddSecure

AddSecure is a leading European provider of secure IoT connectivity solutions with a focus on critical communications and safe data. The reliable end-to-end-solutions are based on secure critical communications technology that combine IoT connectivity platforms, software, and services, tailored to meet customers’ needs across different industries.

Today more than 50,000 customers within the security and safety industry, rescue services, building security and automation, digital care, construction, transport and logistics, utilities, smart cities, and more, safeguard their life- and business-critical operations with IoT solutions from AddSecure. This helps save lives, protect property and vital societal functions, and drives business.

AddSecure currently applies its expertise within secure critical communications and safe data in Smart Alarms, Smart Care, Smart Rescue, Smart Surveillance, Smart Transport, and the emerging technology area Smart Grids.

The headquarters are located in Stockholm, Sweden, with additional offices across Europe. The company employs around 900 people in 15 countries.

AddSecure is majority-owned by Funds, managed by Castik Capital, a European private equity fund with a long-term approach to value creation.

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KKR and Apache Capital form £1.7bn strategic partnership to deliver next phase of build-to-rent multifamily housing pipeline with Moda Living

  • KKR and Apache Capital to invest £610m in purpose-built apartments designed for rent in core cities across the UK
  • The collaboration will deliver over 4,000 high quality rental homes as part of a £1.7bn development pipeline
  • Properties will be developed and operated by Moda Living

London, 22 November, 2021 — KKR, a leading global investment firm, and Apache Capital, a leading investment manager focused on UK residential real estate, announced that KKR and Apache Capital have established a joint venture to create a UK build-to-rent (‘BTR’) multifamily housing investment platform.

KKR and Apache Capital will invest £610m to fund the delivery of BTR projects in core cities across the UK that will be developed and operated by Moda Living (‘Moda’), with sites already identified in Birmingham, Brighton and Hove, and London.

The developments will deliver over 4,000 apartments that are purpose-built and designed for rent as part of a £1.7bn development pipeline. The homes will be built to the latest design specifications, with high levels of on-site amenities and service provision for residents.

Rosa Brand, Director at KKR, said: “We are excited to work alongside Apache Capital, and Moda Living, both highly experienced strategic partners with excellent track records, over the long term, to deliver a best in class portfolio in the build-to-rent residential sector, which remains a thematic priority for KKR”.

John Dunkerley, CEO and co-founder of Apache Capital said: “Our strategic partnership with KKR demonstrates the growing maturity of the UK build-to-rent sector, which continues to attract global institutional capital thanks to its favourable demand-supply dynamics and defensive, counter-cyclical characteristics.

“This collaboration is consistent with our strategy of creating a premium product marked by high levels of service and amenity provision and we look forward to seeing the projects completed.”

Tony Brooks, Managing Director at Moda Living, said: “With the backing of Apache Capital and KKR we will deliver the next generation of build-to-rent neighbourhoods that will set new standards for style and service while meeting the growing demand for high quality rental housing that is responsive to modern lifestyles”.

The joint venture between Apache Capital and KKR follows the success of Apache Capital and Moda’s second operational multifamily BTR scheme, Moda, The Lexington, in Liverpool, where 60 percent of apartments are already leased two months after launch. Moda’s flagship scheme, Moda, Angel Gardens, in Manchester, is fully stabilised, having set new sector benchmarks for rents achieved.

KKR’s investment was made via KKR Real Estate Europe Partners Europe II, a US$2.2 billion fund dedicated to value add and opportunistic real estate investments in Western Europe.

-ENDS-

About KKR
KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

About Apache Capital
Apache Capital is an investment manager focused on residential real estate for rent with a proven track record of creating value through funding, developing and operating its assets under management.

Apache Capital aims to raise the standard of living for all generations across the UK, building a portfolio of digitally-enabled, consumer-focused brands that deliver for investors and create a more thoughtfully designed, more convenient and aspirational lifestyle for customers.

Investing for the long-term, Apache Capital’s philosophy has been to focus on demographically and structurally supported asset classes and the company is behind sector-shaping investments across purpose-built student accommodation, senior living, multi-family and single-family housing.

Apache Capital. Invest in Living. Website: www.apachecapital.co.uk

About Moda Living
Moda Living is the UKs leading developer and operator of rental communities. Founded in 2014, the business has built a UK-wide pipeline of more than 18,400 homes with a combined GDV in excess of £6 billion. Moda operates a family of living sector platforms with leading global institutional investment partners. Moda’s vertically integrated model designs, builds and operates next generation spaces to live, work and play. Moda continues to push the boundaries of style, service and innovation to craft considered, diverse residential communities providing different products at different price points for different lifestyle requirements. Moda’s core brand foundations focus on outstanding customer service, integrated technology and health and wellbeing to provide an optimum rental experience and a better quality of life.

Media Enquiries:

KKR

Alastair Elwen / Sophia Johnston
Finsbury Glover Hering
Telephone: +44 20 7251 3801
Email: kkr@fgh.com

Apache Capital

Tom Roberts
Blackstock Consulting
Telephone: 07722440999
Email: Tom@blackstock.co.uk

Moda Living

Emma Shone
Corporate PR Manager, Moda Living
emma.shone@modaliving.com
07538555332

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