Category Archives: News

Cinven announces its first Sustainability Linked Loan

Cinven

Focused on improving ESG performance across Cinven Funds’ portfolio companies

International private equity firm, Cinven, has agreed its first Sustainability Linked Loan (‘SLL’), comprising a €4bn three-year loan facility with a consortium of banks. The new facility is centred on improving the ESG performance of Cinven Funds’ portfolio companies across a number of Cinven’s ESG focus areas, including climate change, gender diversity and ESG governance. Through the implementation of the SLL, Cinven continues to build on its commitment to ESG and value creation for its investors, portfolio companies and wider society. The SLL is fully aligned with the Loan Market Associate SLL principles. Lloyds Bank is the ESG Co-ordinator of the SLL.

The SLL represents the latest milestone in Cinven’s ESG evolution, which was formalised in 2009 when Cinven became an early private equity signatory to the United Nations’ Principles for Responsible Investment (UNPRI). Cinven has made significant progress in the ensuing years, with recent developments including becoming a founding member to ILPA’s ‘Diversity in Action’ initiative in December 2020, joining the Initiative Climat International (iCI) in March 2021, and, most recently, joining the ESG Data Convergence Project in December 2021. Cinven’s 2021 ESG Review, published in March 2022, sets out a more comprehensive update of key developments in Cinven’s ESG programme.

Allegra Day, ESG Director at Cinven commented:

“We are extremely pleased to have agreed our first Sustainability Linked Loan, which will be vital in helping Cinven’s portfolio companies take their next steps in improving their ESG performance. We believe this is a market leading SLL given its size, its focus on tangible results – such as whether portfolio companies have developed decarbonisation plans aligned to the Paris Agreement – and the broad range of portfolio companies that are within scope of the loan.”

Varun Sarda, Managing Director, Sustainability & ESG Finance at Lloyds Bank added:

“We are delighted we could help Cinven set up their inaugural Sustainable Linked Loan facility. This facility helps Cinven to demonstrate that its ESG strategy is at the heart of how it supports its portfolio companies. This transaction also underlines the pioneering role that the Private Equity sector can play in the sustainable transition, reflecting the growing momentum behind ESG debt in the UK.”

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Ardian commits €180 million to SEVETYS with new unitranche facility

Ardian

Ardian, a world leading private investment house, today announces that it has arranged a new unitranche financing to support SEVETYS in the acquisition of 100 additional veterinary clinics in France. This new financing follows an initial facility arranged in December 2021.

Headquartered in Paris, SEVETYS is one of the leading operators of veterinary clinics in France with 180 clinics under management. Through a hub-and-spoke model, it provides the full suite of veterinary services from generalist care and vaccination to complex surgical procedures. As a market leader in France, the company is known for its high-quality offering, thanks to its skilled practitioners and high-grade equipment. The company is forecasting €140 million of revenues in 2022.

SEVETYS, supported by French private investors and veterinarians, is strengthening its partnership with Ardian’s Private Debt team, which is able to offer tailor-made unitranche financing, combining flexibility and speed of execution.

SEVETYS has been established with the objective of consolidating the growing and fragmented French veterinary market. The French market presents a significant opportunity for consolidation, as only 15% of the country’s 6,000 clinics are run as part of large groups. This is a lower consolidation rate than other markets such as the UK (c.50%) or Scandinavia (c.70%). The market has been consolidating at a fast pace in recent months, with SEVETYS being one of the fastest growing groups.

”Through our existing partnership with SEVETYS, we have been very impressed by its strong growth trajectory. We are pleased to be strengthening our relationship as the company targets 100 new clinics. This reinvestment will allow it to continue its ambitious acquisition strategy as the market consolidates in the coming months and years.” Jean-David Ponsin, Managing Director in the Ardian Private Debt team

”Thanks to Ardian’s unitranche financing, we have been able to accelerate our external growth plans. The flexibility of this solution allows us to be very proactive about our potential acquisitions. The new financing arranged by Ardian will allow us to pursue this strategy and consolidate our position on the French market.” Daniel Einhorn, CEO of Sevetys

Parties to the transaction

  • SEVETYS

    • Daniel Einhorn, Alexandre Brevault
    • Financial legal advisor: Goodwin (Adrien Paturaud, Alexander Han)
    • M&A advisor: Rothschild (Pierre Pessans, Thomas Lenoble, Augustin Viellard)
    • Financial VDD: Oderys (Thomas Claverie, Andoni Balaquer, Benjamin Supiot)
    • Corporate legal advisor: Winston & Strawn (Julie Vern, Gilles Bigot, Myriam Saragouss)

  • ARDIAN

    • Jean-David Ponsin, Gabrielle Philip, Hadrien Barnier
    • Financial legal advisor: Willkie Farr & Gallagher (Paul Lombard, Laurence Raud, Martin Jouvenot, Nolwenn Poisson)

ABOUT SEVETYS

SEVETYS is one of the leading operators of veterinary clinics in France with approximately 100 clinics. Organized as a hub-and-spoke model, the Group provides complete veterinary services from generalist care and vaccination to more complex surgical procedures. SEVETYS is known for its high-quality offering, thanks to its skilled practitioners and high-grade equipment, and occupies a leading position in France.

www.sevetys.fr

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $130bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

Media Contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.co.uk

Categories: News

EQT Private Equity and Mubadala to acquire Envirotainer, the leading global provider of mission-critical biopharma transport services

eqt
  • As part of their broader strategic partnership, EQT Private Equity and Mubadala Investment Company to make a majority investment in Envirotainer, a global provider of mission-critical cold chain transportation solutions for pharmaceuticals
  • Envirotainer enables access to life-saving pharmaceuticals and vaccines via reliable and efficient cold chain solutions, and is the global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals
  • EQT Private Equity and Mubadala will support Envirotainer in its next phase of growth, by accelerating expansion in core markets and APAC in particular, scaling the newly launched CryoSure offering, investing in new technologies and continuing to roll-out third generation Releye platform

EQT is pleased to announce that the EQT X fund (“EQT Private Equity”), and Mubadala Investment Company (“Mubadala”), have agreed to acquire Envirotainer (the “Company”), the global leader of mission-critical, proprietary temperature-controlled supply chain solutions for the transportation of biopharmaceuticals, from Cinven and Novo Holdings. The enterprise value amounts to around EUR 2.8 billion.

Envirotainer was founded in 1985 in Stockholm, Sweden, where its headquarters, R&D and production are based. Envirotainer designs, manufactures and leases active temperature-controlled containers, used primarily for air freighting biopharma products. With a fleet of circa 6,700 containers globally and approximately 375 employees in 20 countries, the Company is the global leader in active temperature control for air transportation of temperature-sensitive pharmaceuticals. Envirotainer has more than 600 customers worldwide, including many global blue-chip pharma and biotech companies.

Millions of people across the globe depend on the safe delivery of biopharmaceuticals that require temperature control to maintain their integrity and quality. Today, lack of access to medicines is a cause for distress that disproportionately impacts underserved communities, whose situation is likely to be exacerbated by chronic diseases resulting from changing diets and lifestyles, as well as from air and water pollution. Envirotainer expands access to vital pharmaceuticals and vaccines through its patient-safe, reliable and efficient cold chain solutions, which also offer one of the lowest carbon footprint solutions in the industry.

EQT Private Equity and Mubadala will seek to support Envirotainer in its next phase of growth by accelerating expansion in APAC and continuing growth in its other core markets, and will leverage EQT’s local-with-locals approach and Mubadala’s global network to do so. Building on the sector-related expertise of EQT’s network and Mubadala, EQT Private Equity and Mubadala will help scale the newly launched CryoSure offering and continue the successful roll-out of third-generation Releye platform, while investing behind new technology innovations, digitalization and sustainability in its operations.

Ali Farahani, Partner within EQT Private Equity’s Advisory Team, said, “The temperature-controlled distribution of pharma products offers very attractive and thematic exposure to the fast-growing biopharma end-market. Envirotainer is an integral part of the global pharmaceutical infrastructure and the clear global market leader with significant scale advantages, superior operations and industry-leading performance and customer satisfaction. The company has a clear purpose of enabling access to life-saving pharmaceuticals and offers reusable solutions with significantly less CO2 emissions compared to traditional air-freight solutions. We continue to see significant growth potential ahead and are excited to partner with the management team to unlock the full potential together with our partners at Mubadala.”

Camilla Macapili Languille, Head of Life Sciences for Mubadala, said, “Envirotainer plays a mission-critical role in the healthcare ecosystem by ensuring the safe and reliable delivery of drugs from pharma companies to hospitals, clinics, and ultimately, patients. Their extensive international footprint ideally positions Envirotainer to meet the pharma industry’s growing need for global temperature-controlled distribution and as the undisputed market leader, they are continuing to pioneer developments in the sector with forward-thinking R&D innovation. We have strong conviction in the company’s growth trajectory and will work closely with management and our partners at EQT to ensure its long-term success.”

Peter Gisel-Ekdahl, CEO, “We are pleased with the confidence that EQT and Mubadala have shown us by investing in the company and look forward to closely collaborating to further develop the business. This long-term partnership will strengthen Envirotainer and help us deliver on our purpose of enabling access to life-saving pharmaceuticals. At the same time, this investment, from such esteemed investors, confirms the strength of Envirotainer’s business model and the company’s very exciting future.”

EQT and Mubadala were advised by Jefferies International (M&A), McKinsey & Company (commercial), White & Case (legal), and KPMG (financial, tax, operations).

The transaction is subject to customary conditions and approvals and is expected to close in Q3 2022. With the acquisition of Envirotainer, EQT X (target fund size of EUR 20.0 billion and hard cap of EUR 21.5 billion) will be 0-5 percent invested based on its target fund size. EQT X will be activated and start charging management fees upon the closing of its first transaction, currently expected to be the closing of the acquisition of Envirotainer. EQT IX is currently 80-85 percent invested, following recent portfolio company add-on acquisitions, and continues to be in its commitment period but management fees will, following activation of EQT X, be based on net invested capital.

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

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT X will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 77 billion in assets under management across 36 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 280,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About Mubadala Investment Company
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.

Mubadala’s $284 billion portfolio spans six continents with interests in multiple sectors and asset classes. It leverages its deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

More info: www.mubadala.com

About Envirotainer
Envirotainer is the undisputed global market leader in secure cold-chain solutions for intercontinental transport of pharmaceuticals. The company develops, manufactures, and offers leasing of innovative

 container solutions and dewars for cryogenic shipping, including validation, support, and service, for pharma products that require a controlled environment. Thanks to a truly global presence with the world’s largest active container fleet, the most extensive network, and more than 35 years of industry expertise, Envirotainer is able to meet the customers’ need for innovative and reliable solutions – available from any location to any destination. The company operates through an open, global network of airlines, forwarders and couriers and the headquarters is located outside of Stockholm, Sweden.

For more information, please visit  www.envirotainer.com

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Gimv co-leads CHF 71M (USD 74M) Series B financing in ImmunOs Therapeutics to develop novel therapies in oncology and autoimmune disease.

GIMV

ImmunOs Therapeutics AG (“ImmunOs”), a biotech company focused on a new class of HLA-based therapies for the treatment of cancer and autoimmune diseases today announced the closing of a CHF 71M (USD 74M) Series B financing. The round was co-led by Gimv, Samsara Biocapital and Lightspeed Venture Partners, with significant participation from Mission Biocapital, GL Capital, Peak6 Strategic Capital, and Fiscus Financial, as well as existing investors Pfizer Ventures, BioMed Partners, and Schroder Adveq.

ImmunOs Therapeutics AG (www.immunostherapeutics.com) leverages its proprietary platform and knowledge based on master regulators of immunity (i.e. HLA, human leukocyte antigens) to develop first-in-class therapeutics for the treatment of cancer and autoimmune diseases. The Company has identified specific HLA molecules known to activate the immune system and utilizes them as the backbone of novel therapies capable of stimulating both the innate and the adaptive immune systems of cancer patients to eliminate tumor cells.

ImmunOs’ lead program is a multi-functional fusion protein that blocks specific immune-regulatory receptors (LILRB, leukocyte immunoglobulin-like and KIR, killer cell immunoglobulin-like) to initiate and sustain anti-tumor responses. ImmunOs is also developing antibodies to block the activation of specific HLA protein molecules associated with autoimmune diseases.

The proceeds of the Series B will be used to fund the clinical development of ImmunOs’ lead program, IOS-1002, through Phase 2 clinical trials and to progress additional oncology and autoimmune disease programs. IOS-1002 will enter a Phase 1 clinical trial in the second half of 2022.

Additionally, ImmunOs has established a U.S. subsidiary to further expand its international reach, execute future U.S. clinical trials, and strengthen its transatlantic operations and team.

Andreas Jurgeit, Partner at Gimv: “ImmunOs’ approach of identifying HLA molecules with naturally optimized affinity and specificity profiles is not just elegant but also truly differentiated – a novel modality leveraging the co-evolution of immune-regulatory mechanisms. We are extremely excited by the progress being made at ImmunOs and proud to support the team towards clinical validation for the benefit of patients.”

Christoph Kocher, Associate at Gimv, added: “ImmunOs’ vision of leveraging natural HLA biology to address major unmet needs in patients fully embodies the mission of Gimv´s Life Sciences platform: Building leading companies that have a lasting impact on patients and society.”

For further information, we refer to the companies press release in the attachment.

 

Read the full document

English – French – Dutch
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Antares Partners with Hello Alice to Allocate $1M in Grants to Underrepresented Founders

Antares

CHICAGO–(BUSINESS WIRE)–Antares today announced the launch of REACH, a program designed to help level the playing field for entrepreneurs who are members of diverse and historically underrepresented groups including women, people of color, military-affiliated, persons with disabilities, or LGBTQ+. The initiative will allocate $1M of Antares’ own capital to a grant program in partnership with Hello Alice, a multichannel platform that helps businesses launch and grow.

“champion middle market growth so that its people, partners and communities achieve their full potential.”

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REACH aims to expand access to capital to historically underrepresented groups at their earliest foundational stages, which would otherwise be challenging to obtain due to a lack of personal or “Friends and Family” funds and a discrepancy in how venture capital dollars are disseminated. For example, in 2021, women-founded companies garnered less than 2 percent of capital invested in VC-backed startups in the US, and Black-owned startups received just over 1 percent.

“When we support entrepreneurs from historically underrepresented groups in their nascent stages, we’re helping to drive a more diverse pipeline of companies that will ultimately benefit from the support and capital that private equity provides,” said Timothy Lyne, CEO of Antares. “We are eager to partner with Hello Alice in an effort to accelerate the growth of these companies and drive sustainable diversity, equity and inclusion throughout the industry.”

REACH was designed and will be led by Antares’ Employee Impact Groups. It aligns to the firm’s business heritage and brings to life the company’s purpose which is to “champion middle market growth so that its people, partners and communities achieve their full potential.” The grant program, in partnership with Hello Alice, will award $20,000 grants to approximately 40 small businesses. To qualify, businesses must have a viable product or service with less than $5M in annual revenue and be operated by entrepreneurs of historically underrepresented groups. All recipients will be eligible to receive an additional $5,000 unrestricted grant after completing a post-grant report and will be given access to professional development opportunities through Hello Alice.

“Underrepresented founders continue to face hurdles when attempting to raise capital for their company, a discrepancy that only hinders their ability to grow and scale their businesses,” said Carolyn Rodz, Co-Founder and CEO of Hello Alice. “That’s why we are excited to partner with a company like Antares, a firm that is committed to leveraging its leadership and access to resources in the middle market to contribute to a meaningful and measurable impact for those who need it most.”

REACH is a key tenet of Antares’ We Build Community efforts, which also focuses on grassroots organizations that support historically underrepresented groups as well as giving back to the communities where Antares employees live and work. To learn more and apply, visit https://helloalice.com/grants/antares-capital/

About Hello Alice

Hello Alice is a free platform that provides small business owners the tools, resources and access to funding they need to grow their businesses. With a community of over 800,000 business owners in all 50 states, Hello Alice is building the largest community of small business owners in the country while tracking data and trends to increase the success rate for that group. Our partners include enterprise business services, government agencies, and institutions looking to serve small- and medium-business owners to ensure increased revenues and promote scale. A Latina owned company, founded by Carolyn Rodz and Elizabeth Gore, we believe in business for all by providing access to all small business owners including women, people of color, veterans, and everyone with an entrepreneurial spirit. To learn more, visit www.helloalice.com, as well as Twitter, LinkedIn, Instagram, and Facebook.

About Antares

With more than $50 billion of capital under management and administration as of December 31, 2021, Antares is a private debt credit manager and a leading provider of financing and investment solutions for middle-market private equity-backed borrowers and investors. Since its founding in 1996, Antares has built one of the industry’s largest and longest-tenured portfolios of middle market companies and has been recognized by industry organizations as a leading provider of middle market private debt. Through its Asset Management & Funding team, Antares offers investors the opportunity to invest in collateralized loan obligations, funds and separately managed accounts. Antares is committed to championing middle market growth throughout market cycles. Doing so allows its people, partners and communities to achieve their full potential. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital is a subsidiary of Antares Holdings LP, (collectively, “Antares”).

Contacts

Antares Capital
Carol Ann Wharton
475-266-8053
carolann.wharton@antares.com

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AEVIS VICTORIA SA takes a stake in the Well digital health platform

Aevis Victoria

AEVIS VICTORIA SA / Key word(s): Investment

07-Jun-2022 / 06:45 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 LR

The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

Fribourg, 7 June 2022

AEVIS VICTORIA SA takes a stake in the Well digital health platform

AEVIS VICTORIA (AEVIS) pursues the development of integrated healthcare in Switzerland and takes a stake in the Well digital health platform. Well enables patients living in Switzerland to benefit from easy digital access to a growing network of service providers. As a shareholder, AEVIS will play a key role in the further expansion of Well, together with its four founding partners: CSS, Medi24, Visana and Zur Rose Group. This collaboration seeks to network service providers in the healthcare industry and to unite Well’s digital services with the healthcare offering of Swiss Medical Network, one of the two leading private hospital groups in Switzerland, subsidiary of AEVIS. The parties have agreed not to disclose the details of the transaction.

To advance integrated healthcare in Switzerland, Well is developing an open digital health platform in cooperation with health insurers, service providers and platform users. It is already possible for users to schedule appointments with Amavita, Coop Vitality or Sun Store pharmacies, check symptoms, consult physicians online, schedule medical appointments or submit health documents. In parallel, Well is also providing support to healthcare professionals, who can bring improved functionality and expanded data to their existing systems, booking appointments through Well and consulting the health data their patients make available via the app.

Swiss Medical Network CEO Dino Cauzza comments: «Our new alliance with Well and its partners is an important milestone in continuing to meet the growing challenges of the healthcare sector. This powerful network offers patients digital convenience in managing their healthcare as well as access to leading medical services. We are elated to be part of this collaboration».

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%, directly and indirectly), the only Swiss private network of hospitals present in the country’s three main language regions, Victoria-Jungfrau AG, a luxury hotel group managing ten luxury hotels in Switzerland and abroad, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, Swiss Hotel Properties SA, a hospitality real estate division, 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.

 

End of ad hoc announcement

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AnaCap invests in Further, a leading global niche healthcare insurance and services solutions provider

Anacap

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, announces that it has signed an agreement to invest in Further Underwriting International (“Further”), a leading digitally enabled specialist in the design and development of niche health insurance products and service solutions.

Founded in 2012 and headquartered in Madrid, Further has successfully established itself as a leading, high growth company in its specialty area, with business in over 30 countries through partnerships with more than 300 insurers and employer groups.

With rapid advances in healthcare solutions and a constantly changing landscape in healthcare delivery and consumer needs, Further’s ability to design and deliver ground-breaking solutions in complex areas of healthcare positions it perfectly to continue supporting its partners in an environment of increasing complexity. Further’s unique combination of empathetic customer care and digital enablement means it is ideally placed to respond to these new challenges with a clear mission to level the playing field and provide truly global solutions within the diversity, equity, and inclusion space.

The partnership with AnaCap will enable Further to accelerate its global growth strategy with expansion into new geographies, product categories and partnerships, as well as pursuing acquisition opportunities.

AnaCap will partner with Further, leveraging its expertise at the intersection of the insurance, healthcare and technology sectors, while providing both organic operational and inorganic growth support.

The European insurance market is well known to AnaCap and this transaction builds on AnaCap’s successful track record of investing in technology-enabled insurance businesses, which spans companies such as Simply Business (UK), Oona Health (parent of DSS, Denmark and Sweden) and MRH Trowe (Germany).

Frank Ahedo, Chief Executive Officer at Further, commented: “We are delighted to secure this operational and financial support and begin an exciting partnership with AnaCap. It was very important for us to partner with a business that has a strong entrepreneurial mindset and an understanding of tech-enabled financial services, particularly in the insurance sector, as well as a shared passion for our mission.

We have found in AnaCap an ideal partner to support our continued global growth and together we are taking Further’s success story to the next level.”

Tassilo Arnhold, Private Equity Partner at AnaCap, added: “We are very excited to partner with Frank and his team at Further. This partnership ensures AnaCap continues to collaborate with exceptional entrepreneurs and management teams where our prior experience in scaling health InsurTech businesses can be additive. Our investment will help Further to continue expanding in a large, unserved market with unique and socially beneficial products, building on strong business fundamentals and a robust organic growth track record.”

Robert Massey, Managing Director in AnaCap’s Private Equity Portfolio Value Creation Team, concluded: “Further presents an exciting opportunity to partner with a strong team of entrepreneurs. Our focus will be on the scaling of the business and accelerating growth through selected acquisition opportunities and joint ventures. This partnership will support the expansion of an exciting company with a unique and highly defensible market position and solid existing relationships with re-insurer partners. We look forward to working closely with everyone at Further.”

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AnaBios Closes Financing with Ampersand Capital Partners

Ampersand

SAN DIEGO, CA – June 7, 2022 – AnaBios Corporation, a leading preclinical contract research organization (CRO) that focuses on translational research with unique capabilities to measure drug activity directly in human tissue, today announced an investment from Ampersand Capital Partners, a private equity firm specializing in growth equity investments in the life sciences and healthcare sectors.

“AnaBios is thrilled to partner with Ampersand to elevate our business in the growing pharma industry,” said Dr. Andre Ghetti, CEO of AnaBios. “These funds will be used to strategically expand our business and grow our capabilities in a variety of therapeutic areas to address the need of our industry and academic partners. The expected global reach and enhanced capabilities will help catalyze a larger number of successful clinical trials because more candidate molecules will be developed with the aid of our translational models.”

“Ampersand is excited to partner with the talented AnaBios team to improve the success rate of drug discovery and development globally,” said Melanie Fan, Principal at Ampersand. “This is an excellent fit with Ampersand as we have a long history of supporting preclinical lab-based CROs. AnaBios has already strongly impacted the fields of cardiovascular disease, pain research and cardiac safety and we look forward to working with the team to accelerate the company’s expansion plan.”

 

About AnaBios

Located in San Diego, California, AnaBios aims to establish the safety and efficacy of novel compounds through its advanced, human-focused translational technologies. AnaBios primarily focuses on areas of high, unmet medical need, including cardiac disease, lung disease, CNS disorders, pain and itch. As a preclinical CRO, AnaBios has the most extensive network of hospitals and transplant centers for obtaining human tissue samples from ethically consented donors for ex vivo analysis.  For more information about AnaBios, visit http://www.anabios.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector.  With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors.  Additional information about Ampersand is available at ampersandcapital.com.

Media contacts:

AnaBios
Chris Mathes, Ph.D., Chief Commercial Officer
cmathes@anabios.com

Ampersand Capital Partners
media@ampersandcapital.com

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Cinven and Novo Holdings to sell Envirotainer

Novo Holdings

International private equity firm, Cinven, and co-investor, Novo Holdings, have agreed to the sale of Envirotainer (‘the Company’), a leading global provider of mission-critical, temperature-controlled air cargo services for the pharmaceutical industry, to EQT and Mubadala, for an Enterprise Value of approximately €2.8 billion. As part of the transaction, Envirotainer’s current shareholders will have the opportunity to reinvest in the business as minority shareholders.

Founded in 1985 and headquartered in Stockholm, Sweden, Envirotainer designs, manufactures and leases active temperature-controlled containers, used primarily for air freighting biopharma products. With a fleet of c. 6,700 containers globally, the Company has more than 600 customers worldwide, including many blue-chip global pharma and biotech companies. Envirotainer has approximately 375 employees and an extensive global network of more than 60 service stations.

The Company developed and marketed the first container with an active temperature control system in 1995, enabling it to meet the complex needs of transporting biopharmaceuticals at stable temperatures. Today, Envirotainer supports the transportation of approximately 2 million doses of medicines per day for all major pharmaceutical manufacturers, ensuring medicine is safely delivered to destinations around the globe.

Cinven’s Nordic team identified Envirotainer as an attractive investment opportunity in 2012 and tracked the business closely for six years, working with Cinven’s Business Services, Healthcare and Industrials Sector teams to develop a compelling investment thesis for the Company. The Sixth Cinven Fund together with co-investor Novo Holdings, ultimately acquired Envirotainer in September 2018.

Since acquisition, Cinven and Novo Holdings have worked in close partnership with the Company to drive its strong performance, including through:

  • Significant investment in R&D and innovation to support new product launches, including the next generation Releye platform, which has further enhanced Envirotainer’s market-leading sustainability credentials, and CryoSure, a shipment solution for the cryogenic (-70°C) segment;
  • International expansion, with Envirotainer continuing to expand its geographical reach and entering new markets; notably, Envirotainer has significantly grown its business in China, India and South Korea, key emerging pharmaceuticals markets, through investment into three new service stations, the local sales force and expansion of existing infrastructure;
  • Enhancing Envirotainer’s digital capabilities, introducing live shipment monitoring for customers as well as leveraging data analytics to facilitate predictive maintenance of the large container fleet; and
  • Investments in the organisation, including strengthening the senior management team and Envirotainer’s operational capabilities, as well as supporting the relocation to a new HQ. This has ensured continuous best-in-class delivery of Envirotainer’s mission-critical services, minimising product waste for customers and successfully navigating through the disruption to global supply chains arising from the COVID-19 pandemic.

Commenting on the investment, Pontus Pettersson, Partner at Cinven, said:

“Envirotainer is a great business in a highly attractive market. We are very proud of the success that the Company has achieved during Cinven’s ownership period – it is a great example of Cinven’s strategy to back leading Swedish and European businesses to expand internationally and to invest in new products, digitalisation, and operational excellence to drive growth.

“Envirotainer is in a strong position to continue to take advantage of the market opportunity and we are confident the company will continue to do very well in the future.”

Peter Gisel-Ekdahl, CEO of Envirotainer, added:

“The support of Cinven and Novo Holdings has enabled us to continue to develop best-in-class solutions to support our clients and the healthcare industry, including the recently launched Releye platform and our new CryoSure solution which has enabled us to enter into a new and attractive part of the temperature-controlled transportation market. As a result, Envirotainer has continued to maintain a market-leading position and to serve all top pharmaceutical companies. We are very excited for the company’s next chapter.”

Christian Salling, Senior Partner at Novo Holdings, also commented:

“Envirotainer has been on an impressive journey in recent years and management has done an outstanding job of creating a leading provider of mission-critical services to the pharmaceutical industry. We are very proud to be part of that journey and Envirotainer is a good example of our engaged ownership model, that we exercise together with leading investment partners.”

Completion of the transaction is expected in the second half of 2022 and is subject to customary antitrust approvals.

Advisors on the transaction include: JP Morgan (M&A); Vinge (legal); Clifford Chance (legal)

 

Media contacts

Cinven
Clare Bradshaw Tel. +44 (0)7881 918 967 

Email. Clare.Bradshaw@cinven.com

 
FTI Consulting LLP (Advisers to Cinven)
Edward Bridges Tel. +44 (0)7768 216 607 

Email. Edward.Bridges@fticonsulting.com

 
Ben Fletcher Tel. +44 (0)7508 580 490 

Email. Ben.Fletcher@fticonsulting.com

 
Envirotainer
Sofia Wiwen-Nilsson Tel. +46 (0)730 715019 

 

Email. Sofia.Wiwen-Nilsson@envirotainer.com
 
Novo Holdings
Christian Mostrup Tel. +45 3067 4805
  Email. CIMS@novo.dk

 

 About Cinven

Cinven is a leading international private equity firm focused on building world-class global companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg.

Cinven has invested over €2 billion of equity in Nordic companies and currently owns fast growing Group.One in Sweden. Historical investments in the Nordic region include Phadia, Ahlsell, Coor Service Management and Visma.

Cinven takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society.

Cinven Capital Management (V) General Partner Limited, Cinven Capital Management (VI) General Partner Limited, Cinven Capital Management (VII) General Partner Limited and Cinven Capital Management (SFF) General Partner Limited are each authorised and regulated by the Guernsey Financial Services Commission, and Cinven Limited, the adviser to the Cinven Funds, is authorised and regulated by the Financial Conduct Authority.

In this press release ‘Cinven’ means, depending on the context, any of or collectively, Cinven Holdings Guernsey Limited, Cinven Partnership LLP, and their respective Associates (as defined in the Companies Act 2006) and/or funds managed or advised by any of the foregoing.

For additional information on Cinven please visit www.cinven.com and www.linkedin.com/company/cinven/.

 

About Novo Holdings

Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets.Novo Holdings is recognized as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: www.novoholdings.dk

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Cinven and Novo Holdings to sell Envirotainer

Cinven

International private equity firm, Cinven, and co-investor, Novo Holdings, have agreed to the sale of Envirotainer (‘the Company’), a leading global provider of mission-critical, temperature-controlled air cargo services for the pharmaceutical industry, to EQT and Mubadala, for an Enterprise Value of approximately €2.8 billion. As part of the transaction, Envirotainer’s current shareholders will have the opportunity to reinvest in the business as minority shareholders.

Founded in 1985 and headquartered in Stockholm, Sweden, Envirotainer designs, manufactures and leases active temperature-controlled containers, used primarily for air freighting biopharma products. With a fleet of c. 6,700 containers globally, the Company has more than 600 customers worldwide, including many blue-chip global pharma and biotech companies. Envirotainer has approximately 375 employees and an extensive global network of more than 60 service stations.

The Company developed and marketed the first container with an active temperature control system in 1995, enabling it to meet the complex needs of transporting biopharmaceuticals at stable temperatures. Today, Envirotainer supports the transportation of approximately 2 million doses of medicines per day for all major pharmaceutical manufacturers, ensuring medicine is safely delivered to destinations around the globe.

Cinven’s Nordic team identified Envirotainer as an attractive investment opportunity in 2012 and tracked the business closely for six years, working with Cinven’s Business Services, Healthcare and Industrials Sector teams to develop a compelling investment thesis for the Company. The Sixth Cinven Fund together with co-investor Novo Holdings, ultimately acquired Envirotainer in September 2018.

Since acquisition, Cinven and Novo Holdings have worked in close partnership with the Company to drive its strong performance, including through:

  • Significant investment in R&D and innovation to support new product launches, including the next generation Releye platform, which has further enhanced Envirotainer’s market-leading sustainability credentials, and CryoSure, a shipment solution for the cryogenic (-70°C) segment;
  • International expansion, with Envirotainer continuing to expand its geographical reach and entering new markets; notably, Envirotainer has significantly grown its business in China, India and South Korea, key emerging pharmaceuticals markets, through investment into three new service stations, the local sales force and expansion of existing infrastructure;
  • Enhancing Envirotainer’s digital capabilities, introducing live shipment monitoring for customers as well as leveraging data analytics to facilitate predictive maintenance of the large container fleet; and
  • Investments in the organisation, including strengthening the senior management team and Envirotainer’s operational capabilities, as well as supporting the relocation to a new HQ. This has ensured continuous best-in-class delivery of Envirotainer’s mission-critical services, minimising product waste for customers and successfully navigating through the disruption to global supply chains arising from the COVID-19 pandemic.

Commenting on the investment, Pontus Pettersson, Partner at Cinven, said:

“Envirotainer is a great business in a highly attractive market. We are very proud of the success that the Company has achieved during Cinven’s ownership period – it is a great example of Cinven’s strategy to back leading Swedish and European businesses to expand internationally and to invest in new products, digitalisation, and operational excellence to drive growth.

“Envirotainer is in a strong position to continue to take advantage of the market opportunity and we are confident the company will continue to do very well in the future.”

Peter Gisel-Ekdahl, CEO of Envirotainer, added:

“The support of Cinven and Novo Holdings has enabled us to continue to develop best-in-class solutions to support our clients and the healthcare industry, including the recently launched Releye platform and our new CryoSure solution which has enabled us to enter into a new and attractive part of the temperature-controlled transportation market. As a result, Envirotainer has continued to maintain a market-leading position and to serve all top pharmaceutical companies. We are very excited for the company’s next chapter.”

Christian Salling, Senior Partner at Novo Holdings, also commented:

“Envirotainer has been on an impressive journey in recent years and management has done an outstanding job of creating a leading provider of mission-critical services to the pharmaceutical industry. We are very proud to be part of that journey and Envirotainer is a good example of our engaged ownership model, that we exercise together with leading investment partners.”

Completion of the transaction is expected in the second half of 2022 and is subject to customary antitrust approvals.

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