Category Archives: News

DIF Capital Partners invests in Canadian fiber optic networks build out

DIF

DIF Capital Partners, through its DIF Core Infrastructure Fund II (“DIF CIF II”), is pleased to announce that it has completed a majority investment into Valley Fiber Ltd (“Valley Fiber”) to build fiber-to-the-home (“FttH”) and fiber-to-the-business (“FttB”) networks in Manitoba, Canada.

Based in Winkler, Manitoba, Valley Fiber is a telecommunications infrastructure company that specializes in the development, construction and operations of fiber and fixed-wireless infrastructure for residential and commercial use. Valley Fiber has received support from municipal and federal levels of government in Canada. DIF Capital Partners’ investment will allow Valley Fiber to connect more than 15,000 homes and businesses to fiber over the next two years. The transaction contemplates a conservative capital structure which provides additional financial resiliency in the current environment.

Valley Fiber was incorporated in 2016 and has successfully built a presence in Southern Manitoba, constructing high quality telecommunications infrastructure to service the historically underserved communities. Valley Fiber currently operates in more than 20 municipalities in Manitoba. The transaction also includes the acquisition of 40 operating fixed-wireless towers.

“The Valley Fiber team is extremely excited to have found a long-term partner that shares the same values and vision of how to bring the best-in-class fiber and telecommunication infrastructure to the region. With the support from the Canadian government and our financial partner DIF Capital Partners, we look forward to usher in a new generation of economic development and diversity to Southern Manitoba” comments Hank Wall, CEO of Valley Fiber.

The transaction is the first investment for DIF CIF II and underlines the key strategic focus to invest in digital infrastructure. “We are pleased with our long-term investment into the Valley Fiber platform for the roll out of fiber in rural Canada. This is an excellent opportunity for DIF CIF II to invest in a high growth company with a strong management team and to further expand our presence into the fast-growing telecom infrastructure sector” comments Willem Jansonius, Head of DIF CIF.

DIF Capital Partners was advised by Agentis Capital (financial) and Davies Ward Phillips & Vineberg (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.4 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and brownfield infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

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

DIF has a team of over 140 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
Email: a.ruijs@dif.eu

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CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Real Estate Press Release
20 April 2020 at 08.00 EEST

CapMan Real Estate sells school property in Stockholm to Stenvalvet

CapMan Nordic Real Estate I Fund has completed the sale of Skutkrossen in Vinsta, Northwestern Stockholm, to Stenvalvet, a Swedish property company specialising in public properties.

CapMan Nordic Real Estate I Fund purchased the property in 2017. At acquisition, the 12,096 sqm property was leased to ten tenants including the the City of Stockholm’s Education Department as the main tenant. Since acquisition, CapMan has formalized the zoning at the property for longer term school use and expanded the school area as well as extended the duration of the school lease and improved the rental terms.

“We invested in Vinsta as it is a fast-growing suburb with increasing demand from schools and businesses. The area has undergone very positive changes and will benefit further from the opening of the Stockholm Bypass in the coming years with Vinsta being one of the key entry / exit junctions on the bypass. Having completed many value-add activities at the property, we are now pleased to sell to a strong and long-term owner of school properties who we have cooperated with successfully in the past,” comments Per Tängerstad, Partner at CapMan Real Estate.

Skutkrossen is the thirteenth exit of the CapMan Nordic Real Estate I Fund. The focus of the €273 million fund was to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities. CapMan is currently raising its third value-add Nordic fund.

For further information, please contact:
Per Tängerstad, Partner, CapMan Real Estate, tel. +46 70 591 23 00

About CapMan www.capman.com

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012.

 

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MULTICAM shifts production to join the fight against COVID-19

RosewoodPrivate Investments

DALLAS, TX (April 2020) – MultiCam Inc., a world-renowned builder of high-quality CNC machinery 100% made in America, is shifting production to meet the global demand of personal protective equipment (PPE) for front line healthcare workers in their daily fight against COVID-19.

There has been a shortage of PPE as the pandemic progresses, MultiCam stepped up to meet the challenge by shifting several of their knife cutting machines in their solutions center to manufacture Multi-ShieldsTM, a patent pending version of the medical-grade clear plastic face shields and hospital gowns that protect healthcare workers from contaminants.

“What started as another sleepless night of me thinking about how we can help fight this pandemic and to protect our workforce has turned into a full-fledged design and production of PPE due to the quick innovation from our great MultiCam Solutions team. We have contracts to produce 60K+ Multi-ShieldsTM, growing to over 100K and 10K+ hospital gowns with requests that are rapidly increasing by the day. This effort has allowed us to bring our employees back to work and allowed many of our customers to survive this crisis by producing our designed solutions of PPE as well.” David Morse, CEO.

MultiCam’s Solutions team worked to simplify the design to one that can be made more efficiently. Ramped up production doesn’t mean the standards are lowered. MultiCam’s PPE has been designed to meet the desired standards of the medical teams with rigorous quality control and production supervision by local hospitals. Celero 5153c High Speed finishing system with cutting speeds of up to 6,000 inches per minute can produce a Multi-ShieldTM in 28 seconds. The Celero 7153c with cutting speeds of up to 7,800 inches per minute can cut two yards of fabric into patterns required per gown in 30 seconds. MultiCam’s aggressive ongoing effort is to get these lifesaving PPE into the hands of thousands of healthcare workers.

ABOUT MULTICAM INC.

Founded in 1989, MultiCam is proud to have served the global manufacturing industry for over 30 years, delivering high-quality Made-in-America products using American made steel, components, and people. MultiCam has delivered over 13,000 machines, each made to order and built to last. MultiCam supplies innovative CNC cutting solutions for a multitude of industries and applications ranging from sign making to digital finishing, and aerospace to automotive, sheet-metal to plate-steel processing, hardwoods to cabinet making, thermoform trimming to plastics fabrication. MultiCam provides support to their global customers using a network of sales, service and process application experts, including 60 locations worldwide with 20 Technology Centers across North America. MultiCam’s product portfolio includes CNC Router, Digital Cutter, Laser, Plasma, and Waterjet cutting machines.

Source: https://www.multicam.com/multicam-fights-covid/

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Evolta is now Cloudpermit

Evolta and its flagship product, Evolve, are now Cloudpermit. Evolve is an innovative cloud based system for municipal building permitting. Evolta is a rapidly expanding international software development company based in Finland, serves over 250 municipalities in North America and Europe.

On April 14, 2020, the new Cloudpermit branding will roll out. The e-permitting system will have a refreshed look and a new URL, ca.cloudpermit.com. However, the general layout and functionality of the software will be identical, so there will be no adjustment for current users. When users log into the new site, their login information, settings and data will remain the same. The corporate website and social media handles will also change to reflect the new name. Learn more at cloudpermit.com.

The leading-edge e-permitting software provides a virtual workspace for building departments that eliminates paper-based processes. Its accessible cloud platform expedites the flow of information, improves transparency, eliminates misplaced documents and saves staff time and money.

Cloudpermit’s brand launch will arrive as the world continues to grapple with the COVID-19 crisis. Suddenly, there is an acute awareness of the need for remote business solutions, so many municipal offices are exploring the best tools to allow staff and clients to work remotely while practicing social distancing.

Since Cloudpermit is a complete cloud based system for municipal building permits, it is the ideal tool to navigate these new circumstances. The intuitive system can be implemented for new clients remotely, so offices can get to work safely and efficiently while current distancing measures are in place.

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Onex to Acquire Independent Clinical Services

Onex

Toronto, April 16, 2020 – Onex Corporation (“Onex”) (TSX: ONEX) and its affiliated funds
today announced that it has agreed to acquire Independent Clinical Services Group Ltd. (“ICS”)
in partnership with the existing management team and with a reinvestment in the equity by the
former majority shareholder, TowerBrook Capital Partners LP. ICS is a leading specialised
staffing, workforce management solutions, and health and social services business operating
primarily in Europe and present across four continents globally. ICS’s 1,850 employees serve
over 2,000 clients from offices in 10 countries. The transaction is expected to close later this
year, subject to customary conditions and regulatory approvals. The terms of the transaction are
not being disclosed.

“ICS is committed to being a true partner to its clients in delivering both capacity and care at the
highest standard, and that is a commitment we want to continue and build on,” said Nigel
Wright, a Managing Director with Onex. “We are pleased to be partnering with the ICS
management team and look forward to supporting their growth for years to come.”
“Onex’ strong investment track record and history of supporting the teams it invests alongside
makes it an ideal partner for us,” said Mike Barnard, Chief Executive Officer of ICS. “Our first
priority is to provide high-quality healthcare staffing and services to our clients and partners
around the world. Onex is aligned with the strategic direction of our firm and we are excited to
work together in our next phase of growth.”
The investment will be made by Onex Partners V, Onex’ $7.2 billion fund.

About Onex
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional
investors and high net worth clients from around the world. Onex’ platforms include: Onex
Partners, private equity funds focused on larger opportunities in North America and Europe;
ONCAP, private equity funds focused on middle market and smaller opportunities in North
America; Onex Credit, which manages primarily non-investment grade debt through
collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s
actively managed public equity and public credit funds. In total, Onex has approximately
$38.4 billion of assets under management, of which approximately $7.2 billion is its own
shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its
experienced management teams are collectively the largest investors across Onex’ platforms.
The Onex Partners and ONCAP businesses have assets of $42 billion, generate annual revenues
of $28 billion and employ approximately 171,000 people worldwide. Onex shares trade on the
Toronto Stock Exchange under the stock symbol ONEX.

For more information on Onex, visit
its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.
This news release may contain forward-looking statements that are based on management’s
current expectations and are subject to known and unknown uncertainties and risks, which could
cause actual results to differ materially from those contemplated or implied by such
forward-looking statements. Onex is under no obligation to update any forward-looking
statements contained herein should material facts change due to new information, future events
or otherwise.

For further information:
Claire Glossop Irani
Director, Client and Product Solutions
416.362.7711

 

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Yellowtail now part of conclusion ecosystem

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NPM Capital

Conclusion has integrated Yellowtail into its ecosystem. With this, the IT service provider strengthens its position in the financial sector and in the field of digital transformations. Yellowtail is a leading fintech label in the Netherlands focusing on pension funds, banks and insurers. Yellowtail designs, builds and manages digital and data-driven software solutions for financial service providers, with the mission to improve the quality of consumers’ financial lives.

Yellowtail combines expertise of the financial market, IT and User Experience with innovative capacity and implementation power to develop innovative original solutions such as MyLife, Mortgage Assist and MyMortgage. Through these smart digital and data-driven software solutions, Yellowtail brings financial service providers closer to their customers, they can activate these customers better and provide them with advice that suits their financial situation. This gives consumers more direction to their financial future with relative ease.

The Key Control Dashboard platform with a strong position within central and local government is also part of the Yellowtail portfolio. The Key Control Dashboard offers an integrated approach to governance, risk and control in order to allow organizations to be demonstrably “in control” and to comply with the relevant standards frameworks (BIO, ISO27001, NEN7510) and legislation (AVG).

Matthijs Mons, managing director of Yellowtail: “As part of Conclusion, Yellowtail can really take the next step. We see multiple opportunities by working with Conclusion labels that better position us together with large accounts within the ecosystem and get more strength to take on large projects.” Yellowtail’s other managing directors, Robin Bouman, Edwin Lodder and Mark Leck, add: “With our domain knowledge and data driven expertise, Yellowtail contributes to the power of Conclusion as a digital transformation player.”

Engbert Verkoren, CEO at Conclusion (a participation of NPM Capital): “The fact that Yellowtail is now part of the ecosystem strengthens us as a transformation partner in the financial sector. A sustainable and personal customer relationship will become crucial for financial institutions in the coming years. With Yellowtail’s data-driven software solutions, we can help financial service providers in this (digital) transformation.”

Also read ‘IT service provider Conclusion number 1 in the Netherlands’
Also read ‘KWD Resultaatmanagment now part of Conclusion ecosysteem’

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Navamedic enters into distribution agreement for ThermaCare®

Reiten

Navamedic recently announced that they have entered into an exclusive distribution agreement with Angelini Pharma for ThermaCare® in the Nordics and the strategically important Dutch market. With the agreement, Navamedic strengthens its position in the Consumer Health segment and enters the important pain category.

ThermaCare® was launched by Procter & Gamble in 2001 and is an advanced pain therapy for back, neck and muscles, classified as a Medical Device class IIa. The therapy is applied as heat wraps which is activated upon contact with air and placed on pain points, exactly where the user needs it. ThermaCare® delivers up to 16 hours of pain relief, 8 hours while used and 8 hours after it has been taken off. The larger adhesive area makes it easy to re-adjust, and the single-use wraps are thin enough to be worn discreetly under clothing.

Angelina Pharma is a part of the Italian Angelini Group and they acquired the ThermaCare® global business rights (excluding North America) from GSK earlier this year. In the distribution agreement now entered into with Angelina Pharma, Navamedic will take over and accelerate marketing, sales and distribution of ThermaCare® in the Nordics and Netherlands from July 2020. The agreement has a duration of eight years, with options to extend.

For further info, please see company press release: http://www.navamedic.com/no/nyheter/2020/03/navamedic-asa-enters-into-distribution-agreement-for-thermacare-with-angelini-pharma/

 

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BD MYSHOPI expands specialist logistics services with the acquisition of DOCKX SELECT

NPM Capital

BD myShopi and Dockx Group have signed an agreement finalising the acquisition of the activities of Dockx Select. Coming as it does after the acquisition of CityDepot, which specialises in sustainable urban logistics, BD myShopi now adds a second established player in omni-channel ‘last mile’ logistics.

Dockx Select delivers ‘oversized’ goods to consumers on behalf of retailers and producers. Consumers can choose to have their order delivered to their home, with options including delivery to a specific storey, assembly, installation and waste recycling; alternatively, they can opt to collect their item from one of Dockx Select’s 24 pick-up points.

“Following the acquisition of CityDepot at the end of last year, this is the next step in the expansion of our smart logistics activities for our clients,” explains Raf Lambrix, CEO of BD myShopi, an NPM Capital portfolio company. “Where CityDepot is a pioneer in cutting the number of logistical movements in cities, with a view to achieving maximum CO2 reduction, Dockx Select pioneers the collection of goods flows with more sustainable, grouped deliveries or central collection. The activities of both CityDepot and Dockx Select are modelled on our existing logistical network, which continues to enable us to focus on our core activity: door-to-door delivery of advertising leaflets.”

With 25 logistical units at strategic locations in Belgium, BD myShopi has the potential to roll out Dockx Select’s unique, comprehensive logistical services nationwide, and to achieve even faster growth in smart logistics. In addition to keeping on Dockx Select’s 15 employees, Commercial Director Mario De Bruyn and Operations Director Gert Van den Bossche will also be remaining on board. This continuity will maintain the high-quality service provided by both BD myShopi and Dockx Select.

Also read ‘BD myShopi acquires CityDepot from bpost’
Also read ‘BD myShopi signs up to Green Deal for Sustainable Urban Logistics’

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InfraRed NF acquires rare mixed-use complex in Shanghai French Concession Area

InfraRed Capital Partners

InfraRed NF, the leading Greater China real estate investment manager, is pleased to announce the acquisition of an 84% equity stake in Project Sycamore, a US$112 million mixed-use complex in Shanghai together with Collab, a Shanghai-based value-add investment and asset management firm. The project was acquired from a local NPL asset management company at a discount to replacement cost.

Located in the French Concession area, the cultural and historical heart of “Old Shanghai”, the project sits within the Xuhui creative office cluster, surrounded by some of the city’s well-known urban renewal examples, and is a 10-minute walk to three metro stations.

The mixed-use complex has a GFA of 18,466 sqm and comprises four separate commercial buildings and a central courtyard. Originally built as a silk factory, the property was subsequently converted for commercial office and retail use. The condition of the property has since deteriorated, and it is currently vacant.

InfraRed NF will implement a value-add strategy to revitalise the property’s exterior, undertake structural strengthening works and reposition the property to attract tenants from the cultural, creative and technology innovation sectors, as well as high-end retail and F&B services. The outdoor space and central courtyard will be designed to encourage interactions between office, retail and F&B tenants. Green building systems (LEED or WELL) will be embedded in the design and renovation process to ensure the sustainability of the project and its neighbourhood.

This is the fourth value-add acquisition that InfraRed NF has completed in Shanghai, in line with InfraRed NF’s strategy of acquiring well-located but under-managed commercial assets in Tier-1 cities and adding value through change of use, upgrading and active asset management.

Hans Kang, Chief Investment Officer of InfraRed NF, commented:

“This is another showcase of our strategy to acquire well-located but distressed or under-performing assets disrupted by technology and new economy, at discount to replacement cost, and generate value by creating spaces catering for the new economy and the evolving work and lifestyles of a new generation. There is a growing, sustainable and scalable opportunity to capitalise on in Tier 1 cities in China, particularly in Shanghai, the largest commercial city of China.”

 

About InfraRed NF

InfraRed NF is a joint venture between InfraRed Capital Partners and Vervain. Established in 2007, InfraRed NF is a leading investor in Greater China real estate with a proven track record of delivering superior returns through a combination of mezzanine financing and value-add investing. InfraRed NF has invested US$1.9 billion across 25 transactions in Greater China.

InfraRed Capital Partners is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney and has launched 18 funds including two listed companies on the London Stock Exchange. With c.160 professionals, InfraRed Capital Partners manages US$12 billion of equity in multiple private and listed funds, primarily for institutional investors across the globe.

Vervain (which includes entities operating under the former name of “Nan Fung China”) is a private company established in 2004 and based in Hong Kong. Vervain has a diversified real estate business, including property investment, property development, project management and real estate private equity investments. Vervain’s property portfolio comprises high-quality residential, commercial, industrial, serviced apartments and hotel projects in Hong Kong and other global cities including London, New York, Seoul, Tokyo and Da Nang. The company’s financial investments include global equities, fixed income portfolios and fund partnerships.

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Software and technology investor Fortino Capital is kicking off its second Benelux VC fund

Fortino Capital

targeting early growth companies

ANTWERP, April 10, 2020 – Fortino Capital Partners is raising the successor of its first VC-fund. Fortino Capital Venture II is aiming for a target size of €80 million and will be focussing on promising early stage European software and technology companies with a regional bias to the Benelux. As of today a total of €45 million in commitments have been signed up.

With its second VC fund, Fortino Capital Partners now has three funds in its portfolio.

The first VC fund, Fortino Capital I, with a capital of €80 million, is to date invested in 8  software companies including Teamleader (BE), BuyBay (NL) and Bloomon (NL). The fund is also an investor in Dobco and Riaktr, two companies that are actively involved in the diagnosing and monitoring of Covid-19. The fund has also realized a few important exits: Melita, Trendminer, Zentrick and Piesync, currently a subsidiary of Hubspot.

The second fund, Fortino Capital Growth PE I, is a growth private equity fund with a capital of €242 million targeting larger enterprises and their management, banking on accelerated organic growth. The fund currently supports MobileXpense (BE), Efficy CRM (BE) and Odin Groep (NL).

Fortino Capital Venture II, now its third fund, will continue its predecessor’s strategy and is targeting investments in successful start-up and scale up companies with a focus on software and technology.

Duco Sickinghe, Managing Partner Fortino: “We are living through uncertain and tough times and as an investment company we would like to, more than ever, send out a sign of hope and trust to young entrepreneurs. With our new fund we would like to reiterate our trust in entrepreneurs, driving the digitalization of our economy and society. We will use our new capital, our experience and our expertise to boost the success story of early growth companies. We believe in the future and therefore would like to send out this positive signal. We are delighted that many investors follow the same philosophy and have reiterated their trust in Fortino.”

Fortino Capital Venture II is targeting minority participations in successful and ambitious early growth Benelux companies with entry investment tickets ranging from €500,000 to €5 million, and sufficient capacity for successor capital rounds.

Amongst our investors we count many well-known private investors and entrepreneurs as well as strong institutional investors such as PMV and SFPI-FPIM.

Arie Kuipers, CEO Buybay, one of the companies in Fortino’s first VC-fund confirms the importance of a viable investment partner:  “It is comforting in these turbulent times to know that one can count on investors believing in and supporting innovation and leadership. We are getting closer to a post Covid-19 period where innovative entrepreneurs will make the difference in an accelerated digital transformation. The track record of Fortino, the team and their expertise help us to make the difference and privileged partner to turn our strategy into reality.”

About Fortino Capital Partners

Fortino Capital is a leading venture capital and growth private equity firm investing in European software and technology companies with a focus on Benelux. Our mission is supporting ambitious management teams in realising their growth plans.

We invest in early growth (venture capital) and more mature companies (growth capital) for which organic growth is at the hart of their strategy. Fortino has offices in Belgium and the Netherlands. Fortino is currently investor in Odin Groep (NL), MobileXpense (BE), Tenzinger (NL), Teamleader (BE), Bloomon (NL) and Buybay (NL).

www.fortinocapital.com.

 

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