Category Archives: News

Kinnevik AB (publ) (“Kinnevik”) today announced that it has issued SEK 1.5bn in new bonds in the Nordic bond market.

Kinnevik

The SEK 1.5bn bonds have a final maturity of five years and are separated in one SEK 250m tranche with a fixed rate coupon of 1.058 percent, and one SEK 1,250m tranche with a floating rate coupon of the three-month STIBOR plus 0.80 percent. In order to hedge the interest rate risk, Kinnevik has entered into an interest rate swap agreement whereby it will pay a fixed annual interest rate also on the SEK 1,250m.

The bonds are issued under Kinnevik’s Medium Term Note Programme established in February 2020 and the proceeds from the bond issue will primarily be used to partially refinance bonds maturing during 2020.

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

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

 

Categories: News

Bisnode acquires assets from AXON INSIGHT and strengthens its position in Switzerland

Ratos

Bisnode has acquired the customer assets of the Swiss company AXON INSIGHT and thereby expanding its leading position in marketing and decisioning solutions for the banking and insurance industry.

The customer assets which the acquisition include are primarily Banks and Insurance companies. Through combining Bisnode’s comprehensive data with AXON INSIGHT’s market-leading network aggregation and visualization capabilities Bisnode will strengthen its offer in an important market.

“The combination of Bisnode’s and AXON INSIGHT’s data will deliver important insights into the lead-generation process for banks and insurance companies and lead to significantly higher close rates. We are very pleased to have further strengthened our position in the Swiss market,” says Macario Juan, Managing Director, Bisnode Schweiz AG.

Markus Binzegger, CEO AXON INSIGHT continues, “With Bisnode we have found the ideal Smart Data & Analytics provider and I am more than convinced that we mutually will create the greatest possible value for our customers.”

About AXON INSIGHT
AXON INSIGHT AG is a leading provider in the field of relationship analytics. With the help of first-class network analysis functions for processing data from company registers, news and corporate networks, meaningful insights can be determined to drive business development strategies. AXON INSIGHT is part of the AXON Group, which develops pioneering solutions for its customers’ digital transformations with around 700 employees at 18 locations worldwide.

About Bisnode
Bisnode is a leading European provider of Data & Analytics with 2 100 employees in 19 countries. We help companies to find and manage customers throughout the entire customer lifecycle. With our Smart Data approach, companies can increase revenue and minimise losses. Bisnode is the largest strategic partner of Dun & Bradstreet, the global provider of business information.

 

For further information please contact
Macario Juan, Managing Director, Bisnode Schweiz AG, macario.juan@bisnode.com
Markus Binzegger, CEO, AXON INSIGHT, markus.binzegger@axonivy.com
Anna Albinsson, CMO, Bisnode, +46 (0)73 158 56 07, anna.albinsson@bisnode.com
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.se

About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

Categories: News

Kinnevik to invest SEK 150 million in MatHem‘s SEK 500 million funding round, alongside leading pension company AMF

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has committed to invest an additional SEK 150m in a funding round of approximately SEK 500m in MatHem. Also participating in the funding round is Swedish institutional investor AMF, investing SEK 280m to become MatHem’s third largest shareholder with an ownership stake of approximately 10%, as well as MatHem’s existing shareholders Verdane and Clas Ohlson.

MatHem is Sweden’s leading independent pure-play online grocery retailer with a strong household brand built over the past ten years. The company offers a broad range of grocery products and adjacent household consumables, catering to more than half of Swedish households.  With the additional investment of SEK 150m, Kinnevik has invested SEK 1.1bn in total in the company and has an ownership stake of 36%.

With more than SEK 650 billion in assets under management on behalf of four million customers, AMF is one of Sweden’s leading pension companies, one of the largest owners on Nasdaq Stockholm and one of Kinnevik’s largest shareholders. With the investment of SEK 280m AMF becomes MatHem’s third largest shareholder with a 10% ownership stake.

2019 was a transformative year for MatHem, focused on strengthening the organization to build a solid foundation for future growth. As part of the company’s growth ambitions, and to meet increasing customer demand, part of the raised capital will be used to fund the development of MatHem’s new environmentally certified warehouse in Larsboda, Stockholm. MatHem’s new CEO Johan Lagercrantz joined the company in December, bringing with him a breadth of experience from leading positions in the staffing industry and consumer services and a strong track-record of delivering tangible results. Furthermore, MatHem is today announcing two new independent board directors, Lidia Oshlyansky and Nina Jönsson.

Georgi Ganev, CEO of Kinnevik, commented: “MatHem continues to be at the forefront of the transformation in the grocery space, and a clear leader in its core market. We are delighted that AMF has decided to invest in the company and to be part of this journey. The funding round means that the company is well capitalized for the future, allowing Johan and his team to focus on growing the business and improving operational efficiency.”

Anders Oscarsson, Head of Equities at AMF, commented: “We are excited to invest alongside Kinnevik in MatHem as we share their conviction in the significant opportunity in transforming this large market. We have been impressed by the strong team at MatHem and their plans for the future.”

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

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Bisnode acquires assets from AXON INSIGHT and strengthens its position in Switzerland

Ratos

Bisnode has acquired the customer assets of the Swiss company AXON INSIGHT and thereby expanding its leading position in marketing and decisioning solutions for the banking and insurance industry.

The customer assets which the acquisition include are primarily Banks and Insurance companies. Through combining Bisnode’s comprehensive data with AXON INSIGHT’s market-leading network aggregation and visualization capabilities Bisnode will strengthen its offer in an important market.

“The combination of Bisnode’s and AXON INSIGHT’s data will deliver important insights into the lead-generation process for banks and insurance companies and lead to significantly higher close rates. We are very pleased to have further strengthened our position in the Swiss market,” says Macario Juan, Managing Director, Bisnode Schweiz AG.

Markus Binzegger, CEO AXON INSIGHT continues, “With Bisnode we have found the ideal Smart Data & Analytics provider and I am more than convinced that we mutually will create the greatest possible value for our customers.”

About AXON INSIGHT
AXON INSIGHT AG is a leading provider in the field of relationship analytics. With the help of first-class network analysis functions for processing data from company registers, news and corporate networks, meaningful insights can be determined to drive business development strategies. AXON INSIGHT is part of the AXON Group, which develops pioneering solutions for its customers’ digital transformations with around 700 employees at 18 locations worldwide.

About Bisnode
Bisnode is a leading European provider of Data & Analytics with 2 100 employees in 19 countries. We help companies to find and manage customers throughout the entire customer lifecycle. With our Smart Data approach, companies can increase revenue and minimise losses. Bisnode is the largest strategic partner of Dun & Bradstreet, the global provider of business information.

 

For further information please contact
Macario Juan, Managing Director, Bisnode Schweiz AG, macario.juan@bisnode.com
Markus Binzegger, CEO, AXON INSIGHT, markus.binzegger@axonivy.com
Anna Albinsson, CMO, Bisnode, +46 (0)73 158 56 07, anna.albinsson@bisnode.com
Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50, helene.gustafsson@ratos.se

 

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Bisnode strengthens its offering within bank account information

Ratos

Bisnode has started a strategic partnership with Tink, Europe’s leading open banking platform. The partnership will enable Bisnode to provide bank account data based on Tink’s account aggregation and data enrichment technologies in 7 of its markets across Europe.

“This is an important strategic move for Bisnode to build strength in our future risk and credit offerings,” says CEO Magnus Silfverberg.

The partnership with Tink will strengthen Bisnode’s leadership in the risk and credit space and give customers access to key datasets for risk decisions. In combination with Bisnode’s strong offering in credit reports and credit scores, bank account data will be an important basis for making credit decisions in the near future.

“This will be a game changer for lenders in the future and thus for Bisnode as a key provider of risk and credit data,” says CEO Magnus Silfverberg.

For more information: https://www.bisnode.com/about-bisnode/about-us/news/tink-partnership/

For further information, please contact:
Helene Gustafsson, Head of IR & Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se
Tomas Hedenius: +46 70 247 29 02, tomas.hedenius@bisnode.com
David Nilsson Nannini: +46 722 50 41 79, david.nannini@bisnode.com
About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

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Nordic Capital sells its remaining shares in Munters Group AB after a successful transformation

Nordic Capital

Nordic Capital sells its remaining shares in Munters Group AB after a successful transformation Image

Nordic Capital has agreed to sell its remaining shares in Munters, a global leader in ­energy efficient air treatment and climate solutions. Under Nordic Capital’s ownership, Munters has gone through significant transformative change, positioning the company for sustainable growth in end-markets driven by secular growth trends.

On February 13, 2020, Nordic Capital received and accepted a bid to sell all of its remaining shareholding of 14.7% to a group of long-term institutional investors . Part of the transaction involves a condition around competition clearance which Nordic Capital is confident to be satisfied. Following this sale of shares, Nordic Capital no longer owns any shares in Munters.

Nordic Capital acquired a majority stake in Munters in 2010 through a recommended public tender offer and the company was consequently delisted the same year. Munters Group AB was re-listed on NASDAQ OMX Stockholm in May 2017 and Nordic Capital remained one of the largest shareholders in the company until this final sell down.

During the ownership period, Nordic Capital has supported Munters’ successful journey in strengthening its position as a global industry leader in energy-efficient and sustainable air treatment solutions. The company has been transformed, both operationally but also through several value-adding bolt-on acquisitions, portfolio optimisation and re-organisation into a leaner and more focused structure with only two business areas: AirTech and FoodTech. Munters has grown from 2,100 employees and revenues of SEK 3,8 billion (2009) to today’s 3,100 employees and revenues of SEK 7,1 billion (2019).

“The Company has developed strongly during Nordic Capital’s ownership period. Now, with a new experienced management team in place, Munters is well positioned to continue deliver on its strategy and for further growth. It is now time to hand over the ownership as Munters continues its journey,” says Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors.

Munters has been developing new solutions for air treatment since 1955. By using innovative technologies, Munters creates the perfect climate for customers in a wide range of industries, the largest being the food, pharmaceutical and data center sectors. The company has an attractive product portfolio which helps customers around the world achieve their desired air quality through cutting edge technology solutions which are energy efficient, utilize limited water and support sustainable production processes.

Press contact:
Katarina Janerud, Communications Manager,
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Core sectors are Healthcare, Technology & Payments, Financial Services and in addition, Industrials & Business Services and Consumer. Key regions are Northern Europe and globally for Healthcare. Since inception in 1989, Nordic Capital has invested more than EUR 14 billion in over 105 investments. The Nordic Capital vehicles are based in Jersey. They are advised by several non-discretionary sub-advisory entities based in Sweden, Denmark, Finland, Norway, Germany, the UK and the US, any or all of which are referred to as Nordic Capital Advisors. For further information about Nordic Capital, please visit www.nordiccapital.com

Categories: News

Pension Insurance Corporation Group completes £750 million capital raise

New capital supports the continued development and growth of PIC in the pension risk transfer market

Pension Insurance Corporation Group Limited, ultimate parent company of Pension Insurance Corporation plc, the specialist insurer of defined benefit pension schemes, today announces the completion of the previously announced capital raise. PICG’s existing shareholders will invest £750 million of new capital to support the continued development and growth of PIC in the pension risk transfer market.

Reinet Fund S.C.A., F.I.S., a specialised investment fund incorporated in Luxembourg, and the group’s largest shareholder, will invest £437.8 million and have a 46.4% stake in the group. Luxinva, a wholly owned subsidiary of Abu Dhabi Investment Authority, will invest £171.6 million and have an 18% shareholding. CVC Strategic Opportunities I will invest £130.6 million and have a 17% shareholding. 60% of the total funds invested will be available to PICG immediately, with the remaining 40% callable upon request before 26 January 2021.

Tracy Blackwell, Chief Executive Officer of PIC, said: “The money we have just raised from our long-term, supportive shareholders will allow us to help increased numbers of defined benefit pension scheme trustees move their risks to a specialist insurer, guaranteeing their members’ benefits for life. The company is financially strong, has a reputation for excellent customer service, and is operating in a huge growth market. This significant investment by our existing shareholders is a vote of confidence in our growth plans.”

Categories: News

KKR Closes $1.3 Billion Global Impact Fund

KKR

Fund to Invest in Solutions-Oriented Businesses

NEW YORK–(BUSINESS WIRE)–Feb. 12, 2020– KKR, a leading global investment firm, today announced the final closing of KKR Global Impact Fund SCSp (“KKR Global Impact” or the “Fund”), a $1.3 billion fund dedicated to investment opportunities in companies whose core business models provide commercial solutions to an environmental or social challenge.

KKR Global Impact is focused on identifying and investing behind opportunities across the Americas, Europe and Asia where financial performance and societal impact are intrinsically aligned. Specifically, the Fund is focused on generating private equity risk-adjusted returns by investing in companies in the lower middle market that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (“SDGs”).

“The UN SDGS were developed to mobilize citizens, policymakers, technologists and investors to address global challenges. As investors, we have a significant role to play in building businesses that contribute to SDG solutions while also generating financial returns for our fund investors by doing so,” said Robert Antablin and Ken Mehlman, KKR Partners and Co-Heads of KKR Global Impact.

In particular, KKR has identified the following macro themes where it believes KKR Global Impact can contribute meaningfully to helping achieve the SDGs: Mitigating and adapting to climate change; protecting clean water; learning and workforce development; responsible waste management; leveraging technology to enhance safety, mobility and sustainability; serving globally conscious consumers healthier and more sustainable products and services; and upgrading declining industry and infrastructure.

Over the last decade, KKR has been a leader in driving and protecting value throughout the firm’s private markets portfolio through thoughtful Environmental, Social and Governance (“ESG”) management, as well as measuring and reporting on performance to the public and investors. The firm also has a history of investing in businesses that promote solutions to broader societal challenges, having invested $5.5 billion across 35 companies in solutions-oriented businesses that address policy imperatives including workforce development, green energy, responsible waste management, clean water protection and others.

Building on its track record of responsible investment, KKR launched its global impact business in 2018. Since then, the 12 person global team has executed a number of transactions as part of this, including in Barghest Building Performance (BBP), Ramky Enviro Engineers, KnowBe4, Burning Glass, and the formation of a wastewater treatment platform.

The Fund received strong backing from a diverse group of new and existing global investors, including public pensions, family offices, high net worth individual investors and other institutional investors. KKR will be investing more than $130 million of capital in the Fund alongside these investors through the Firm’s balance sheet and employee commitments.

“We are thrilled to see our investors’ shared enthusiasm for the tremendous opportunity we see ahead for KKR Global Impact and will build on this to help set the new standard across investing, value creation and measuring success in the space,” said Alisa Amarosa Wood, KKR Partner and Head of KKR’s Private Market Products Group.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, 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.

Source: KKR

Media:
Kristi Huller or Cara Major
212.750.8300
Media@KKR.com

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Sun Capital Partners Affiliate Acquires West Dermatology

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 completed the acquisition of West Dermatology (“West” or “the Company”), a leading, clinical, cosmetic and research dermatology platform with 55+ clinic locations throughout Arizona, California and Nevada. Terms of the private transaction were not disclosed.

Founded in 1962 and headquartered in Newport Beach, Calif., West Dermatology is a rapidly growing practice management group focused exclusively on clinical research, medical dermatology services, and cosmetic dermatology. The Company offers more than 800,000 annual patients cosmetic and clinical expertise and continued care for common skin conditions, cancer prevention and remediation, elective cosmetic procedures as well as critical, specialty services such as dermatopathology, innovative research trials and Mohs microsurgery.

West Dermatology boasts a strong foundation in the healthcare community, including maintaining long-term membership and leadership participation with the American Academy of Dermatology, Skin Cancer Foundation, American College of Mohs Surgery, American Society for Dermatologic Surgery, and the American Academy of Allergy, Asthma and Immunology.

“Dermatology is a recession-resistant and growing industry within the broader retail health landscape, and West is a premier player poised to grow further in partnership with Sun Capital” said Marc Leder, Co-Chief Executive Officer of Sun Capital. “We are excited to begin working with CEO Chris Kane and his team and look forward to growing West organically and through continued best-in-class add-on acquisitions.”

West Dermatology has executed 22 acquisitions since 2016 and has recorded sustained multi-year organic growth at more than twice the industry rate as a portfolio company of Enhanced Healthcare Partners.

“Having undergone significant growth over the past five years, West is now at a point where we are prepared to leverage our core competencies to grow in partnership with Sun Capital,” said Kane. “We’re confident Sun Capital’s proven expertise will help us to enhance operations, and better fulfill our mission of serving each of our patients to the best of our ability, every day.”

“West is a true strategic platform that benefits from a carefully assembled portfolio of best-in-class providers, a strong management team prepared to execute an ambitious growth strategy, great strategic payor relationships, and a deep bench of clinical and cosmetic dermatologists recognized as true thought leaders,” added Daniel Florian, Managing Director at Sun Capital Partners. “With support from Sun Capital, West will accelerate its disciplined growth strategy and will further build on the Company’s legacy of excellence.”

For more information, please contact:

Emily Meringolo

Stanton

646-502-3559

emeringolo@StantonPRM.com

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Bisnode strengthens its offering within bank account information

Ratos

Bisnode has started a strategic partnership with Tink, Europe’s leading open banking platform. The partnership will enable Bisnode to provide bank account data based on Tink’s account aggregation and data enrichment technologies in 7 of its markets across Europe.

“This is an important strategic move for Bisnode to build strength in our future risk and credit offerings,” says CEO Magnus Silfverberg.

The partnership with Tink will strengthen Bisnode’s leadership in the risk and credit space and give customers access to key datasets for risk decisions. In combination with Bisnode’s strong offering in credit reports and credit scores, bank account data will be an important basis for making credit decisions in the near future.

“This will be a game changer for lenders in the future and thus for Bisnode as a key provider of risk and credit data,” says CEO Magnus Silfverberg.

For more information: https://www.bisnode.com/about-bisnode/about-us/news/tink-partnership/

For further information, please contact:
Helene Gustafsson, Head of IR & Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se
Tomas Hedenius: +46 70 247 29 02, tomas.hedenius@bisnode.com
David Nilsson Nannini: +46 722 50 41 79, david.nannini@bisnode.com
About Ratos:
Ratos is a corporate group consisting of 12 companies divided into three business areas: Consumer & Technology, Construction & Services and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop medium-sized companies with headquarters in the Nordic region that are or have the potential to become market-leading. We make it possible for independent medium-sized companies to excel by being part of something larger. A focus on people and leadership, culture and values are key components of Ratos. Everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People.

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