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AEVIS VICTORIA SA acquires the remaining 80% of the share capital of Klinik Pyramide am See AG and integrates it into its subsidiary Swiss Medical Network

May 18, 2021 | 6:54 pm CEST
 

Press release

Fribourg, 18 May 2021

AEVIS VICTORIA SA acquires the remaining 80% of the share capital of Klinik Pyramide am See AG and integrates it into its subsidiary Swiss Medical Network

AEVIS VICTORIA SA (AEVIS) today signed an agreement with the physician shareholders of Klinik Pyramide am See AG to acquire the remaining share capital of the Zurich-based private hospital. This participation will be integrated into its subsidiary Swiss Medical Network SA, which already held a 20% stake in Klinik Pyramide am See AG since 2011. With around 120 employees and 80 physicians, Pyramid Clinic achieved revenues of CHF 18 million and an EBITDAR of CHF 3.6 million in 2020. The transaction will be carried out primarily through a share exchange and Klinik Pyramide am See AG will be consolidated into AEVIS from 1 July 2021.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA – Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA (90%), the only Swiss private network of hospitals present in the country’s three main language regions, Victoria-Jungfrau AG, a luxury hotel group managing nine luxury hotels in Switzerland, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, a hospitality real estate division, Medgate (40%), the leading telemedicine provider in Switzerland, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.

 

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Astorg and Bridgepoint acquire financial software company Fenergo

Bridgepoint

Dublin, 18th May 2021 – Astorg and Bridgepoint are pleased to announce that they have signed a definitive agreement alongside Fenergo’s management team to acquire Fenergo, the leading provider of Know-Your-Customer (KYC) and Client Lifecycle Management (CLM) software solutions for financial institutions, from Insight Partners. The acquisition follows a period of strong expansion for Fenergo and will drive investment in the firm’s SaaS strategy, product line development and support an expanding team through the next phase of growth.

Established in 2009, Fenergo’s award winning SaaS platform provides solutions to the world’s largest and most complex financial institutions, helping to fight financial crime and to enhance customer journeys while being compliant every step of the way. Fenergo currently helps top financial institutions including ICBC Standard Bank, Santander, Mizuho, ABN AMRO and BNP Paribas to digitally transform their end-to-end client lifecycle processes. Fenergo’s API-first ecosystem of channels, systems and data providers enables financial institutions to offer a truly frictionless customer experience.

The company operates in a specialised part of the highly regulated financial services sector, with strong potential for continued growth given the increasing importance of digitalisation and compliance. In the financial year ending March 2021, Fenergo’s revenue increased by 17% to USD$107 million.

Marc Murphy, Founder and CEO, Fenergo said: “We are delighted that Astorg and Bridgepoint have chosen to invest in our company, providing us with the financial strength required to pursue our ambitious high-growth strategy. Both Astorg and Bridgepoint have enormous experience and credibility in our sector, something I am keen to leverage over the coming years. Ultimately, we only exist to serve the needs of our customers. We are looking forward to partnering with them in the next phase of our development.”

Benoît Ficheur, Partner in charge of growth investments at Astorg, said: “We have tracked Fenergo for many years and have been impressed with its strong market position, innovative technology and consistent strong positive feedback from a customer base of large financial institutions. We are thrilled to partner with Bridgepoint to help shape the future of this unique company. Marc Murphy and his team have proven their strength year after year in this very demanding industry. This investment confirms our commitment to backing fast-growing and innovative software leaders.”

David Nicault, Partner responsible for Bridgepoint’s investment activity in technology, said: “We are delighted to partner with Astorg on the exciting next phase for Fenergo. Continued pressure on financial institutions to improve their compliance work, while at the same time managing margins and increased regulation, has created the need for integrated digital solutions that enable reduced operating costs, improve capital allocation and comply with regulations. We are looking forward to working closely with the management team at Fenergo as they build on the company’s success to date and realise its full growth potential.”

Financial terms of the transaction were not disclosed.

Advisors involved included:

– for Fenergo: UBS, Willkie Farr & Gallagher, William Fry, and PwC

– for Bridgepoint and Astorg: Credit Suisse, William Blair, Torch Partners, Arma Partners, Paul Hastings, Allen & Overy, Ernst & Young, and GreySpark Partners

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Lightyear Capital, Oak HC/FT, and Greater Sum Ventures Close on Sale of Therapy Brands to KKR

Lightyear
05.18.2021

New York, NY – May 18, 2021 – Lightyear Capital LLC (“Lightyear”), Oak HC/FT, and Greater Sum Ventures (“GSV”) today announced that investment funds affiliated with Lightyear, Oak HC/FT, and GSV have completed the sale of Therapy Brands to KKR. Financial terms were not disclosed. Funds affiliated with Lightyear and Oak HC/FT acquired a majority stake in Therapy Brands in July 2018.

Therapy Brands provides practice management, integrated patient payments, revenue cycle management, patient engagement, tele-health and data management solutions for mental and behavioral health practices to support their clinical, administrative and billing needs. The Therapy Brands suite of software tools enables more than 28,000 practices in psychotherapy, applied behavioral analysis, substance use recovery and physical therapy to streamline their practices and focus on their patients.

“We are delighted with the outcome of our investment in Therapy Brands,” said Mark F. Vassallo, Managing Partner of Lightyear Capital. “Over the course of our investment, Therapy Brands tripled in size, completing nine strategic acquisitions, increasing its client base, growing revenue by cross-selling value-added solutions and doubling its payments penetration. Our experience with Therapy Brands further supports our pursuit of attractive investment opportunities in embedded payments models as we see tremendous demand across a number of fast-growing verticals. We wish Kimberly and the entire team at Therapy Brands great continued success.”

“Oak HC/FT’s investment in Therapy Brands highlights our dual aim of backing tech-enabled companies that are increasing the quality and lowering the cost of healthcare,” said Andrew Adams, Co-Founder and Managing Partner of Oak HC/FT. “We are proud of all that Therapy Brands – led by a dedicated team – has accomplished and we’re looking forward to seeing how the company continues to innovate at a time when mental and behavioral health care is more in demand and important than ever.”

“We are pleased with the success of our investment in Therapy Brands,” said Ross Croley, CEO and Founder of GSV. “From the platform’s inception, we’ve provided strategic guidance to the management team on acquisitions and operations, and it’s exciting to see the execution and outcome of our thesis.”

“I want to thank the entire Therapy Brands team for their invaluable support and investment to drive client growth, adoption of our value-added solutions and expand our portfolio,” said Kimberly O’Loughlin, CEO of Therapy Brands. “While we are excited about partnering with KKR on our next chapter of growth, we are grateful to Lightyear, Oak HC/FT and GSV for their support in enabling our success.”

William Blair and TripleTree acted as financial advisors and Davis Polk & Wardwell LLP as legal advisor to Therapy Brands.

About Therapy Brands
At a time when the topics of digital connectivity and access to care are at the forefront of the cultural conversation in the U.S., Therapy Brands is equipping practitioners with effective solutions to address the growing needs of mental and behavioral health, substance use recovery, applied behavior analysis and rehabilitation populations. Through purpose-built, fully integrated practice management and HER solutions provided by Therapy Brands, healthcare providers can improve patient quality of care and support better health outcomes for those they serve. Therapy Brands is headquartered in Birmingham, AL. For more information, please visit us at: https://www.therapybrands.com.

About Lightyear Capital LLC
Founded in 2000, Lightyear Capital is a financial services-focused private equity firm based in New York. Through its affiliated private equity funds, Lightyear makes primarily control investments in North America-based, middle-market companies across the financial services spectrum, including asset and wealth management, banking, brokerage, healthcare financial services, insurance, payments and processing, and specialty finance. The firm brings focus and discipline to its investment process, as well as operating, transaction and strategic management experience, along with significant contacts and resources beyond capital. For more information, please visit www.lycap.com.

About Oak HC/FT
Founded in 2014, Oak HC/FT is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $3.3 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT, with offices in Boston and San Francisco. Follow Oak HC/FT on Twitter, LinkedIn, and Medium.

About Greater Sum Ventures
Greater Sum Ventures (GSV) is an entrepreneurial family office that invests its own capital in middle market software and tech-enabled services companies. With entrepreneurial roots and proven operational and investing experience, GSV works with select independent co-investing partners to build platforms of technology companies that revolutionize the industries they serve. Headquartered in Knoxville, Tennessee, GSV provides access to capital and operational support to midmarket technology firms all over the world. To learn more, visit GreaterSumVentures.com.

Media Contacts:

For Lightyear:
Elliot Sloane
(917) 291-0833
esloane@throughlineco.com

For Oak HC/FT:
Michelle Daubar
(617) 803-1707
michelle@oakhcft.com

For GSV:
Kristin Alm
(865) 850-6087
kristin.alm@greatersumventures.com

For Therapy Brands:
mediainquiries@therapybrands.com

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Baring Private Equity Asia and Alibaba Enter Partnership with The CrownX: Leads USD400mm Investment

Ho Chi Minh City, 18th May 2021 – Masan Group Corporation (HOSE: MSN, “Masan”) and a consortium led by Alibaba Group (“Alibaba”) and Baring Private Equity Asia (“BPEA”) today announced the signing of definitive agreements for the acquisition of a 5.5% stake in The CrownX (“TCX” or the “Company”) for a total cash consideration of USD400 million (the “Transaction”). The CrownX is Masan’s integrated consumer retail arm that consolidates its interests in Masan Consumer Holdings (“MCH”) and VinCommerce (“VCM”). The Transaction implies a pre-money valuation of USD6.9 billion for 100% of its equity, an equivalent of USD93.5 (c. VND 2,150,000) per share. Masan will own 80.2% of the Company post the consortium’s investment.

The formation of The CrownX last year brought together two industry leaders to form a consumer and retail powerhouse. As part of Alibaba’s investment, The CrownX will now partner with Lazada to build the Company’s digital presence and capabilities and accelerate the offline to online (“O2O”) market in Vietnam. With this partnership, the Transaction marks a shared vision across the Company’s shareholders that The CrownX has the potential to establish Vietnam’s first tech-enabled consumer ecosystem and expand its reach to serve consumers nationwide.

“This strategic partnership will accelerate our ability to achieve our goal of transforming The CrownX into a one-stop shop to serve consumers’ everyday needs, whether offline or online, “Point of Life”. Our immediate priority is to modernize Vietnam’s grocery market and develop an unparalleled consumer proposition from assortment to shopping experience,” said Danny Le, Chief Executive Officer of Masan Group. “I strongly believe that this partnership will reduce our learning curve and enable us to reach our endgame more efficiently and effectively”.

“The combination of Alibaba’s online retail expertise, Lazada’s e-commerce platform in Vietnam, and Masan’s leading offline network will be a strong catalyst to modernize Vietnam’s retail landscape. We look forward to building a champion offline-to-online platform alongside Masan,” said Kenny Ho, Head of Investment for Southeast Asia, Alibaba Group. 

“We are delighted to be partnering with Masan and Alibaba, and believe this strategic investment has the potential to supercharge The CrownX’s growth in a nascent retail market and create the largest consumer ecosystem in Vietnam. As a long-term investor in the country, we think Vietnam has a long runway for growth supported by strong macroeconomic tailwinds and attractive demographics,” said Janice Leow, Managing Director at BPEA. “The CrownX also has tremendous digital potential, particularly in e-commerce and data analytics. BPEA prioritizes digital transformation in all of our portfolio companies, and we look forward to working with the Company in its next stage of growth.”

As a part of the Transaction, VCM will enter a Strategic Cooperation Agreement (“SCA”) with Lazada, Alibaba’s South East Asia e-commerce platform:

  • VCM will be the preferred grocery retailer of choice on Lazada’s e-commerce platform in Vietnam
  • The parties will co-share know-how, co-develop analytics to develop grocery as a key online category
  • Transform VCM’s offline stores into pick-up points for online orders
  • Explore synergies between the respective parties’ logistics platforms for service and cost optimization for consumers

Grocery accounts for 50% of Vietnam’s retail market and 25% of consumer wallet share and is of essential daily use, but online penetration is still nascent. Masan has aspirations for The CrownX’s online Gross Merchandise Value to account for at least 5% of its total sales value in the upcoming years.

Credit Suisse (Singapore) Limited acted as the exclusive financial advisor to Masan Group. Deutsche Bank acted as the exclusive financial advisor to BPEA. The Transaction closing is subject to customary corporate approvals.

Masan is also in advanced discussions regarding a further strategic investment of USD300 – 400 million into The CrownX from other investors, expected to close in 2021.

MASAN GROUP CORPORATION

Masan Group Corporation (“Masan”) believes in doing well by doing good. The Company’s mission is to provide better products and services to the 100 million people of Vietnam so that they can pay less for their daily basic needs. Masan aims to achieve this by driving productivity with technological innovations, trusted brands, and focusing on fewer but bigger opportunities that impact the most lives.

Masan Group’s member companies and associates are industry leaders in branded food and beverages, branded meat, value-add chemical processing, and financial services, altogether representing segments of Vietnam’s economy that are experiencing the most transformational growth.

BARING PRIVATE EQUITY ASIA

Baring Private Equity Asia (BPEA) is one of the largest private alternative investment firms in Asia, with assets under management of USD23 billion. BPEA manages a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as dedicated funds focused on private real estate and private credit. The firm has a 24-year history and over 200 employees located across offices in Hong Kong, China, India, Japan, Australia, Singapore, and the US.

BPEA is a responsible investor that seeks to create value for all stakeholders through a sustainable approach to investing. The Firm is a signatory to the UNPRI (United Nations Principles for Responsible Investment) and is committed to action within its own business and the companies in which it invests to drive sustainability across a range of issues, from climate change to social concerns to effective governance.

For more information, please visit www.bpeasia.com.

ALIBABA GROUP

Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

THE CROWN X

The CrownX is a consumer-retail platform that currently consolidates Masan’s interests in MCH and VCM. The company was established with the vision to become a “Point of Life” platform in order to provide more products and services to Vietnamese consumers online and offline.

CONTACTS:

Investors/Analysts

Tanveer Gill
T: +84 28 6256 3862
E: tanveer@msn.masangroup.com

Media

Van Pham
T: +84 90 9216 292
E: vanpth@msn.masangroup.com

For BPEA

Fergus Herries
T : +852 5970 3618
E : fergus.herries@newgate.asia

This press release contains forward-looking statements regarding Masan’s expectations, intentions or strategies that may involve risks and uncertainties. These forward-looking statements, including Masan’s expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond Masan’s control, which may cause Masan’s actual results of operations, financial condition, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You should not rely upon forward-looking statements as predictions, future events or promises of future performance.

 

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Back Market raises $335 million as its renewed electronics marketplace approaches 5 million customers worldwide

Series D investment round led by leading global growth equity firm General Atlantic, with the support of Generation Investment Management, brings Back Market past unicorn territory and further establishes the refurbished sector’s important place in the consumer electronics landscape.

May 18, 2021

Just three years after launching in North America, Back Market, the leading global dedicated refurbished electronics marketplace, today announced an investment round of $335 million led by General Atlantic, with the support of Generation Investment Management, as well as existing investors Goldman Sachs Growth Equity, Aglaé Ventures, Eurazeo and daphni.

The Series D round is an exciting opportunity to take Back Market’s vision to the next level allowing the company to consolidate and build on its position as the leading dedicated marketplace in refurbished electronics. Back Market’s CEO, Thibaud Hug de Larauze, explains:

“Our goal now goes beyond making renewed tech a viable option. We want to make it the first choice for electronics purchases. The support and confidence of these prominent funds, together with our growing customer base, marks an important step in Back Market’s journey, and more importantly for the refurbished sector as a whole.”

Following its North Star: Back Market keeps pushing to transform the industry

Nearing 5 million customers worldwide, Back Market is catalyzing a fundamental shift in consumer behavior and driving the conversation around how people consume technology. Sustainability is increasingly a driving factor in purchase decisions. In a 2019 US Consumer Sustainability Survey by CGS, 68% of respondents across age and gender said sustainability was important to them when making a purchase. A consumer panel showed that 25% of Americans cite sustainability as the most compelling reason to buy refurbished electronics in 2021, up from 16% in 2019. Sustainability is a huge part of the brand’s DNA, and Back Market has attracted investors that truly value the company’s mission and vision.

General Atlantic brings deep global expertise in scaling high-growth businesses that challenge and transform industries, while Generation Investment Management, one of the earliest dedicated sustainability investors, backs companies leading the transition to a more sustainable, system-positive economy. Their combined experience will support Back Market in its next phase of global growth. According to Vianney Vaute, Back Market’s Chief Creative Officer:

“It’s a very positive signal that investors and consumers alike are bullish on the circular economy. Times are changing, and we are positioned to have a real and lasting impact on the way people purchase electronics—and the sustainability of the electronics industry as a whole.”

Quality is king: Back Market to invest heavily in merchant services

Back Market, which has been valued at $3.2 billion, has 1,500 sellers on its platform and counting. As more sellers and brands embrace refurbished and join the company, it is more important than ever to ensure high quality. Back Market is dedicated to continue ensuring strong quality control to expand the appeal of refurbished products to a widening customer base. Customer satisfaction will always be tied to rigorous standards of customer service and parts sourcing, and Back Market’s merchant services will enable its sellers to continue providing high-quality products and experiences, while increasing consumer confidence in the brand and the refurbished sector.

“Renewed electronics are already the more cost-effective and more sustainable choice versus buying new; now that we are beginning to successfully eliminate the gap in quality, we are gearing up to go toe-to-toe with the $1.5 trillion new device market.” says Mr. Hug de Larauze.

Back Market’s efforts to date have already yielded excellent results. The company has successfully cut down the overall defective rates of products on the platform to 5%. For reference, the unofficial failure rate of new devices hovers at around 3% (case in point, the iPhone X and the iPhone 8 Plus, which both came out end of 2017, were each reported to have a 3% failure rate in Q1 of 2018).

The refurb revolution: an increasingly global phenomenon

Back Market continues to focus on bringing high-quality refurbished electronics to more countries in a number of recent and upcoming launches. In 2021, Back Market brought its live country operations to a total of 13 markets, entering Japan, Finland, Portugal and Ireland. The company will soon be opening in Canada, Greece, Sweden and Slovakia.

Back Market is leading the charge for the refurbished market by building a brand that is focused on quality, reliability and strong after-sales services. This day marks a turning point for the refurbished sector as Back Market’s category-disrupting business model democratizes access to high-quality electronics and strengthens the circular economy.

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Chris Caulkin, Managing Director and Head of Technology for EMEA, General Atlantic: “We are excited to support Back Market, a category-defining business which is re-shaping and growing the refurbished electronics market globally. Back Market has built a strong consumer brand centered around quality, sustainability, convenience and affordability. We look forward to working with Thibaud, Quentin, Vianney and the full Back Market team as they accelerate their expansion into new categories and geographies.”

Shalini Rao, Director of Growth Equity, Generation Investment Management:  “Back Market’s transparent and trusted approach empowers consumers to change their purchasing behavior by making it easier, safer and more affordable to buy refurbished goods. We look forward to supporting Back Market as it doubles down in the US and elsewhere globally. The world generates over 50 million tonnes of electronic waste each year. Back Market offers an alternative that has the potential to radically shift unsustainable consumption patterns.”

Alexandre Flavier, Executive Director, Goldman Sachs Growth Equity: “We are proud to support Back Market’s mission as a category leader in sustainable economy. Since our investment last year, we are delighted to see Back Market’s rapid rise across Europe, the US, and more recently Asia. This new fundraise is testament to the strength of Back Market’s vision, business model and first class management team.”

Antoine Loison, co-founder, Aglaé Ventures: “For more than four years, we have been happy to support Back Market, its founders and its teams, in building the world category leader for refurbished products. Back Market fully embodies the values ​​of entrepreneurship, innovation and commitment to sustainable development to which we are particularly attached.”

Yann du Rusquec, Partner, Eurazeo, Growth expertise: “Back Market is making its mark as one of the strongest companies in the circular economy. Eurazeo is proud to continue supporting Thibaud and his talented team as they usher in a new era for the consumer electronics industry.”

About Back Market:
Launched in 2014 by Thibaud Hug de Larauze, Quentin Le Brouster, and Vianney Vaute, Back Market is the world’s leading dedicated renewed tech marketplace. The company brings high-quality professionally refurbished electronic devices and appliances to customers in 13 countries (including the United States, France, Germany, the United Kingdom, Italy, Spain, Belgium, Austria, the Netherlands, and more recently, Portugal, Japan, Finland and Ireland). It employs a team of 480 employees and counting across its 4 offices located in New York, Berlin, Paris and Bordeaux.

About General Atlantic:

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About Generation Investment Management:

Generation Investment Management LLP is dedicated to long-term investing, integrated sustainability research, and client alignment. It is an independent, private, owner-managed partnership established in 2004 and headquartered in London, with a U.S. office in San Francisco. Generation Investment Management LLP is authorized and regulated in the United Kingdom by the Financial Conduct Authority. www.generationim.com .

About Goldman Sachs Growth Equity:

Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Growth Equity is the dedicated growth equity team within Goldman Sachs Asset Management, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally. To read more, visit: https://growth.gs.com/homepage.html

About Aglaé Ventures:

Aglaé Ventures is an international venture capital firm based in Paris, New York and San Francisco backed by Agache, the controlling shareholder of LVMH. Aglaé Ventures invests from € 100K up to € 100MM in asset light activities and fast-growing technology companies at all stages. Over the past 20 years, Aglaé and its affiliates have backed some of the most iconic global technology companies including Netflix, Slack, Spotify, Airbnb, Automattic, eToro and many others.

About Eurazeo:
Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15 billion from third parties, invested in 450 companies. With its considerable private equity, private debt and real assets expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid. Eurazeo is listed on Euronext Paris.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

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Diab has agreed to acquire ULTEM TM Foam production line, to better serve high end core material segments

Ratos

Diab has acquired the ULTEMTM foam production line from SABIC, a global chemical company, to broaden product offering and better be able serve high end core material applications. ULTEMTM resin-based foam has excellent fire, smoke and toxicity (FST) properties making the material especially well-suited for aerospace applications.

ULTEMTM resin-based foam is a recyclable PEI (Polyetherimide) thermoplastic foam used mostly in aerospace applications. Diab will incorporate the product into its current portfolio under the name Divinycell U.

“We are excited to broaden our portfolio with the acquisition of the ULTEMTM foam production line and develop the technology further,” says Diab’s CEO, Tobias Hahn. “This will strengthen our position in the market, enabling us to offer even more fit for purpose core material. Strong material properties in fire, smoke and toxicity is very important in the aerospace segment and we believe that Divinycell U will complement our current FST range benefitting our customers.”

Diab will relocate the acquired production line equipment to its manufacturing site in DeSoto, TX, USA. Beginning Q3-2021, Diab will produce and market the Divinycell U portfolio to existing and new users of the ULTEM™ resin-based foam.
For further information, please contact:
Tobias Hahn, CEO, Diab Group
+46 70 890 94 98
tobias.hahn@se.diabgroup.com

Joakim Twetman, Head of Business Area Industry, Ratos
+46 70 339 16 66
joakim.twetman@ratos.com

 

About Diab:
Diab offers industry-leading competence together with the broadest range of stronger, lighter, smarter core materials. Today Diab is one of the world’s largest manufacturers of structural core materials with a turnover of approx. SEK 2,1 billion and 1,300 co-workers. Diab has six strategically located manufacturing sites and 14 sales units worldwide to support its global customers. Diab is owned by Ratos AB and is a UN Global Compact participant for a more sustainable society.

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.

SABIC and brands marked with ™ are trademarks of SABIC or its subsidiaries or affiliates.

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EQT Public Value enters irrevocable undertaking to accept Palace Bidco’s Tender Offer for Adapteo at a 53 percent bid premium

eqt

EQT is today announcing that the EQT Public Value Fund (“EQT Public Value”) has signed an irrevocable undertaking to accept the Tender Offer made today through Palace Bidco Oy by West Street Global Infrastructure Partners IV, L.P., an infrastructure fund managed by Goldman Sachs Asset Management for the shares in Adapteo Plc (“Adapteo”).

The price amounts to SEK 165.0 per Adapteo share, representing a 53 percent bid premium compared to the closing price per 14 May 2021, the last day of trading prior to the Tender Offer announcement, and a 66 percent premium to the volume-weighted average trading price of the Adapteo share during the six-month period prior and up to the announcement of the Tender Offer.

The offer is the result of a competitive process driven by the Adapteo board of directors with support from EQT Public Value as the largest owner of Adapteo with 17.6 percent of the shares. Furthermore, the attractive valuation implied by the offer reflects Adapteo’s market leading position within Northern European social infrastructure, its leading ESG position as well as the long-term attractiveness and future potential in both Adapteo and the industry.

Commenting on the Tender Offer, Niklas Ringby, Partner and Co-Head of the EQT Public Value advisory team, said:

“With EQT Public Value as the largest shareholder and Peter Nilsson as the chairman, Adapteo became an independent company through the successful spin-off from Cramo in 2019. Adapteo has during the last two and a half years more than doubled revenues and EBITDA, through organic growth and the three strategic acquisitions of Nordic Modular Group, Stord Innkvartering and Dutch Cabin Group. Today, Adapteo is a leader in the essential social infrastructure sector in Northern Europe with a leading ESG profile through the provision of flexible, reusable and low-carbon footprint modular space solutions”.

Niklas Ringby continues: “EQT Public Value has supported the board of directors in creating a competitive process including relevant European infrastructure funds with long-term investment horizons, attracted by Adapteo’s strong infrastructure characteristics. After several rounds of indicative bids, this has ultimately resulted in Palace Bidco launching an offer representing a 53 percent bid premium. We believe the offer is an attractive opportunity for Adapteo’s shareholders to crystallize their investment in the company at a compelling valuation and significant premium.”

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

About EQT and EQT Public Value
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

EQT Public Value targets publicly listed mid-market companies in Northern Europe, applying a constructivist approach intended to create value through board representation and hands-on engagement leveraging EQT resources and platform.

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

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Soteria Biotherapeutics Launches with $42 Million Series A Financing Led by Roche Venture Fund and 5AM Ventures

M Ventures

SAN FRANCISCO, May 17, 2021: Soteria Biotherapeutics, Inc. (“Soteria”), a privately-held, immuno-oncology company focused on developing a next generation of switchable bispecific T-cell engagers to treat patients with solid tumor cancers, today announced a $42 million Series A financing led by Roche Venture Fund and 5AM Ventures with participation from other leading investors, including M Ventures, Novartis Venture Fund and Alexandria Venture Investments.

Soteria’s T-LITETM T-cell engagers are selectively switched on through oral administration of a small-molecule activator to modulate potent T-cell activity by controlling the timing, duration, and level of bispecific complex formation. This switchable activity enables precise on/off control over the timing and magnitude of T-cell redirection and cytotoxic activity. Unlike conventional T-cell engagers which lack a control switch and therefore are associated with significant side effects, Soteria’s T-LITE therapies are being designed to allow physicians to modulate T-cell activity to maximize efficacy while minimizing side effects.

“Soteria’s technology has the potential to revolutionize the T-cell engager field with its proprietary approach designed to control and target potent biologic immune activators to attack tumors,” said Nisha Marathe, investment director at Roche Venture Fund. “Specifically, we believe the T-LITE technology is highly differentiated, where the potent activity of a T-cell engager can be selectively switched on by small-molecule activators to direct tumor cytotoxicity and reduce cytokine release syndrome, ultimately resulting in a therapy with potentially greater safety and efficacy.”

“These funds will support the advancement of our technology and allow us to build a pipeline of T-LITE development candidates with potential in well validated cancer targets,” said Kristine Ball, chief executive officer of Soteria. “We appreciate the confidence and vision this syndicate of premier investors has shown in our opportunity to disrupt the T-cell engager field and our potential to create differentiated, potent therapies against solid tumors.”

Company Founders and Leadership
Soteria’s team of founders, management and board members brings together accomplished leaders from academia and the biopharma industry with successful track records discovering and developing therapeutics at companies such as Abgenix, Ascendis Pharma, AstraZeneca/Medimmune, Exelixis, Genentech/Roche, KAI (acquired by Amgen), Labrys (acquired by TEVA), Merck Research Laboratories, Novartis, Relypsa (acquired by Vifor) and Sunesis:

Kristine Ball, Chief Executive Officer and Member of the Board
Zachary Hill, PhD, Co-Founder and SVP, Chief Scientific Officer, and Member of the Board
Mohammad Tabrizi, PhD, VP Preclinical Development
Alex Martinko, PhD, Co-Founder and Senior Director of Protein Science
Jim Wells, PhD, Academic Co-founder, Chair of Scientific Advisory Board, and Professor of Pharmaceutical Chemistry at UC San Francisco
Steven P. James, Board Chair and Chief Executive Officer of Pionyr Immunotherapeutics
David Allison, PhD, Member of the Board and Partner at 5AM Ventures
Keno Gutierrez, PhD, Member of the Board and Vice President at M Ventures
Nisha Marathe, PhD, Member of the Board and Investment Director at Roche Venture Fund
David Morris, MD, Member of the Board and Operating Partner at Novartis Venture Fund
Momo Wu, PhD, Member of the Board and Portfolio Investment Manager at Emerson Collective

About Soteria Biotherapeutics Inc.
Soteria is developing a next generation of switchable bispecific T-cell engagers to treat cancer patients with solid tumors. Soteria’s highly innovative T-LITETM platform provides small molecule-dependent activation of bispecific antibody therapies, enabling safer and more efficacious treatments through pulsatile activity, reduced side effects and higher dosing. Soteria was founded in 2018 with technology licensed from UC San Francisco and is based in San Francisco, California. For additional information, visit www.soteriabiotherapeutics.com

Contacts:
Sylvia Wheeler
swheeler@wheelhouselsa.com
info@soteriabiotx.com

Alex Santos
asantos@wheelhouselsa.com

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Nordic Capital invests further in fast-growing ArisGlobal, a leading provider of Cloud Software for the Life Sciences Industry

Nordic Capital
  • As a leading healthcare and technology investor and committed owner, Nordic Capital will further support and accelerate ArisGlobal’s growth in new product domains 
  • ArisGlobal has over recent years experienced significant growth and has almost doubled its profit since Nordic Capital’s acquisition in 2019

Nordic Capital, a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses, today announced its further investment in ArisGlobal, by acquiring an additional shareholding from the founding Abbhi family. The transaction follows Nordic Capital’s initial investment in ArisGlobal, a leading provider of innovative software-as-a-service (SaaS) solutions for the life sciences industry in 2019 and subsequent years of significant growth for the Miami-based company. Drawing on its deep understanding of both the healthcare and technology sectors, Nordic Capital will continue to support ArisGlobal’s growth, with further investment into research and development, cognitive computing, global delivery and commercial operations.

ArisGlobal is pioneering innovations to elevate life sciences and benefit humankind. The Company is on a mission to build an intuitive, intelligent, and unified software platform that enables the world’s best life sciences companies to bring safer products to market more quickly. Currently, more than 300 life sciences companies and government health authorities, including 30 of the top 50 global biopharmaceutical companies and the FDA, rely on ArisGlobal’s solutions to maintain regulatory compliance, manage and mitigate risk, and improve operational efficiency across the life sciences product lifecycle.

With this further commitment from Nordic Capital, ArisGlobal will prioritize innovation and automation within its Clinical Development and Regulatory Affairs portfolios, with significant investments made across talent, technology, and customer experience. The funding will also fuel advancements to ArisGlobal’s market-leading capabilities in Drug Safety and Medical Affairs, where the Company has been recognized for being first in the industry to deliver cloud applications powered by cognitive computing.

“This is an exciting day in the history of ArisGlobal,” said Sankesh Abbhi, President and CEO of ArisGlobal. “Since we began our partnership with Nordic Capital in 2019, we have shared a common vision for the future of the life sciences industry and I am proud to say that we have made great strides working together to realize that vision. We are committed to continuing to build intuitive, intelligent, and unified life sciences software that fundamentally transforms global health and improves the lives of patients. I have never been more enthusiastic and optimistic about our future.”

Following the transaction, Sankesh Abbhi will, as President and CEO, remain a minority owner in ArisGlobal.

“We are excited about the opportunity for Nordic Capital to show further commitment to ArisGlobal and support the growth and development of the company in partnership with the management team. ArisGlobal is transforming how most successful life sciences companies handle drug safety, clinical development, regulatory compliance, and medical affairs and this investment will further accelerate ArisGlobal’s growth in new product domains,” says Daniel Berglund, Partner, Nordic Capital Advisors and Member of ArisGlobal’s Board of Directors.

Since inception in 1989, Nordic Capital has made 30 healthcare platform investments across Europe and North America and 19 investments in the Technology & Payments sector, supporting active value creation agendas to build industry winners. Recent investments in the US include ERT, a leading provider of high-quality patient safety and efficacy endpoint data collection solutions for use in clinical drug development, and Cytel, a global provider of clinical trial design SaaS software, biometric services and advanced analytics.

 

Press contacts:

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

 

ArisGlobal

Alberto Cantor, Associate Director, Corporate Marketing
Tel: +1-609-360-4042
e-mail: acantor@arisglobal.com


About ArisGlobal

ArisGlobal is transforming the way today’s most successful Life Sciences companies develop breakthroughs and bring new products to market. Our end-to-end drug development technology platform, LifeSphere®, integrates our proprietary Nava® cognitive computing engine to automate all core functions of the drug development lifecycle. Designed with deep expertise and a long-term perspective that spans more than 30 years, LifeSphere® is a unified platform that boosts efficiency, ensures compliance, delivers actionable insights, and lowers total cost of ownership through multi-tenant SaaS architecture. Headquartered in the United States, ArisGlobal has regional offices in Europe, India, Japan and China. For more updates, follow ArisGlobal on LinkedIn and Twitter.

 

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. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 17 billion in close to 120 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

“Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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KKR to Acquire Majority Position in ERM

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KKR
May 17, 2021

Long-term Investment Focused on Growing the World’s Largest Pure-play Sustainability Consultancy

LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that it has signed an agreement to acquire a majority position in ERM, the world’s largest pure-play sustainability consultancy. KKR will acquire its position in the company from OMERS Private Equity and Alberta Investment Management Corporation (AIMCo), with ERM’s management team and Partners remaining as minority investors. Financial terms of the transaction were not disclosed.

Over the last 50 years, ERM has built deep and broad technical expertise in environmental health, safety, risk and social matters with a first-class team of more than 5,500 purpose-driven consultants, including 580 partners, across 150 offices in over 40 countries. The Company supports its clients in every part of their organizations, from boots to boardroom, with a focus on operationalizing sustainability and implementing environmental, social and governance (ESG) best practices. ERM helps its clients shape their ESG strategies, as well as identify and address their key sustainability issues. Additionally, ERM partners with the world’s leading organizations to advance thought leadership in sustainability through its SustainAbility Institute.

Keryn James, ERM Chief Executive Officer, said: “At ERM, we are committed to working alongside every one of the world’s leading organizations to achieve their sustainability goals. This long-term partnership with KKR will allow us to expand and accelerate our client impact, and bring new capabilities and technologies to the business of sustainability.”

Mattia Caprioli, Tim Franks and Ken Mehlman, Partners at KKR, Franziska Kayser, Managing Director at KKR, and Rami Bibi, Director at KKR, said: “True expertise in sustainability and environmental matters is more important than ever. We are proud to invest in an organization like ERM and its partners, as they continue to help organizations implement ESG management best practices across their operations.”

As part of KKR’s investment, ERM Partners will continue to be shareholders in the business. KKR’s investment is being made through its Core Investments strategy, which represents capital targeting longer-term opportunities.

KKR is a long-standing client of ERM’s consulting services.

The transaction is expected to close in the third quarter 2021, subject to regulatory approvals and other customary closing conditions.

-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 ERM

ERM is the business of sustainability.

As the largest global pure play sustainability consultancy, ERM partners with the world’s leading organizations, creating innovative solutions to sustainability challenges and unlocking commercial opportunities that meet the needs of today while preserving opportunity for future generations.

ERM’s diverse team of over 5,500 world-class experts in over 150 offices in more than 40 countries supports clients across the breadth of their organizations to operationalize sustainability. Through ERM’s deep technical expertise clients are well positioned to address their environmental, health, safety, risk and social issues. ERM calls this capability its “boots to boardroom” approach for its comprehensive service model that allows ERM to develop strategic and technical solutions that advance objectives on the ground or at the executive level.

For more information, please visit www.erm.com.

Alastair Elwen
Finsbury Glover Hering
+44 20 7251 3801
KKR@finsbury.com

Source: KKR

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