Category Archives: News

Cloudera Enters into Definitive Agreement to be Acquired by Clayton, Dubilier & Rice and KKR for $5.3 Billion

KKR

Cloudera Stockholders to Receive $16.00 Per Share in Cash

SANTA CLARA, Calif., June 1, 2021 /PRNewswire/ — Cloudera, (NYSE: CLDR), the enterprise data cloud company, today announced that it has entered into a definitive agreement to be acquired by affiliates of Clayton, Dubilier & Rice (“CD&R”) and KKR in an all cash transaction valued at approximately $5.3 billion. The transaction will result in Cloudera becoming a private company and is expected to close in the second half of 2021.

Cloudera

The Board of Directors of Cloudera (the “Board”) has unanimously approved the transaction and recommends that the Cloudera shareholders approve the transaction and adopt the merger agreement. Entities related to Icahn Group, collectively holding approximately 18% of the outstanding shares of Cloudera common stock, have entered into a voting agreement pursuant to which they have agreed, among other things, to vote their shares of Cloudera common stock in favor of the transaction.

The transaction delivers substantial value to Cloudera shareholders, who will receive $16.00 in cash per share, representing a 24% premium to the closing price as of May 28, 2021 and a 30% premium to the 30-day volume weighted average share price.

“This transaction provides substantial and certain value to our shareholders while also accelerating Cloudera’s long-term path to hybrid cloud leadership for analytics that span the complete data lifecycle – from the Edge to AI,” said Rob Bearden, CEO of Cloudera. “We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity.”

“We very much look forward to working with Cloudera as it continues to execute its long-term transformation strategy,” said Jeff Hawn, CD&R Operating Partner who will serve as Chairman of the company upon the close of the transaction. “The company has made significant progress establishing the Cloudera Data Platform (CDP) as a leader in hybrid and multi-cloud analytics, and we believe that our experience and capabilities can offer valuable support to accelerate expansion into new products and markets.” Mr. Hawn’s past roles include serving as Chairman and Chief Executive Officer of Quest Software, Vertafore, and Attachmate.

“We have followed the Cloudera story closely for a number of years and are pleased to be supporting its mission of helping companies make better use of their data in the ever-evolving hybrid IT environment,” said John Park, KKR Partner and Head of Americas Technology Private Equity. “We are excited to contribute to Cloudera’s accelerated innovation efforts as a private company.”

KKR is making the investment from its North American private equity funds, adding to KKR’s experience helping to grow leading global technology businesses, including GoDaddy, Internet Brands, Epicor, BMC, Optiv, Calabrio, Corel and 1-800 Contacts. CD&R’s investments in technology-related businesses include Epicor, Capco, m2gen, Sirius Computer Solutions, and TRANZACT.

Closing of the deal is subject to customary closing conditions, including the approval of Cloudera shareholders and antitrust approval. The agreement includes a 30-day “go-shop” period expiring on [July 1], 2021, which allows the Board and its advisors to actively initiate, solicit and consider alternative acquisition proposals from third parties – with an additional 10 days to negotiate a definitive agreement with qualifying parties. The Board will have the right to terminate the merger agreement to enter into a superior proposal subject to the terms and conditions of the merger agreement. There can be no assurance that this “go-shop” will result in a superior proposal, and Cloudera does not intend to disclose developments with respect to the solicitation process unless and until the Board receives an acquisition proposal that it determines is a superior proposal, or it otherwise determines such disclosure is required.

First Quarter Fiscal 2021 Financial Results

Cloudera will announce its first quarter fiscal year 2021 financial results in a separate release today. The press release will also be available on the Investor Relations section of Cloudera’s website. Due to the announced transaction with affiliates of CD&R and KKR, Cloudera has cancelled its earnings conference call previously scheduled for June 2, 2021.

Advisors

Morgan Stanley & Co LLC is serving as exclusive financial advisor to Cloudera, and Latham & Watkins, LLP is serving as legal advisor to Cloudera. GCA Advisors, LLC, BofA Securities, William Blair & Company, L.L.C., Perella Weinberg Partners LP, Cowen and J.P. Morgan are serving as financial advisors and Kirkland & Ellis, LLP and Debevoise & Plimpton LLP are serving as legal advisor to CD&R and KKR. J.P. Morgan, Bank of America, and KKR Capital Markets have committed to providing debt financing for the transaction.

About Cloudera

At Cloudera, we believe that data can make what is impossible today, possible tomorrow. We empower people to transform complex data into clear and actionable insights. Cloudera delivers an enterprise data cloud for any data, anywhere, from the Edge to AI. Powered by the relentless innovation of the open source community, Cloudera advances digital transformation for the world’s largest enterprises. Learn more at Cloudera.com.

Cloudera and associated marks are trademarks or registered trademarks of Cloudera, Inc. All other company and product names may be trademarks of their respective owners.

About Clayton, Dubilier & Rice

CD&R is a private investment firm with a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $35 billion in 100 companies with an aggregate transaction value of more than $150 billion. The firm has offices in New York and London. For more information, please visit www.cdr-inc.com.

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.

Important Information and Where to Find It

In connection with the proposed transaction between Cloudera, Inc. (“Cloudera”) and an affiliate of CD&R and KKR, a special stockholder meeting will be announced soon to obtain stockholder approval in connection with the proposed transaction. Cloudera expects to file with the Securities and Exchange Commission (“SEC”) a proxy statement (the “Proxy Statement”), the definitive version of which will be sent or provided to Cloudera stockholders. Cloudera may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which Cloudera may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed or will be filed with the SEC by Cloudera through the website maintained by the SEC at www.sec.gov, Cloudera’s investor relations website at https://investors.cloudera.com/home/default.aspx or by contacting the Cloudera investor relations department at the following:

Participants in the Solicitation

Cloudera and certain of its directors, and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be considered to be participants in the solicitation of Cloudera’s stockholders will be set forth in the Proxy Statement for its special stockholder meeting. Cloudera stockholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the proposed transaction, including the interests of Cloudera directors and executive officers in the transaction, which may be different than those of Cloudera stockholders generally, by reading the Proxy Statement and any other relevant documents that are filed or will be filed with the SEC relating to the transaction. You may obtain free copies of these documents using the sources indicated above.

Cautionary Statement Regarding Forward-Looking Statements About the Proposed Transaction

This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Cloudera’s current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, its business and industry, management’s beliefs and certain assumptions made by Cloudera, CD&R and KKR, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control, and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining stockholder and regulatory approvals, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of Cloudera’s business and other conditions to the completion of the transaction; (ii) conditions to the closing of the transaction may not be satisfied; (iii) the transaction may involve unexpected costs, liabilities or delays; (iv) the outcome of any legal proceedings related to the transaction; (v) the failure by CD&R and KKR to obtain the necessary debt financing arrangements set forth in the commitment letters received in connection with the transaction; (vi) the impact of the COVID-19 pandemic on Cloudera’s business and general economic conditions; (vii) Cloudera’s ability to implement its business strategy; (viii) significant transaction costs associated with the proposed transaction; (ix) potential litigation relating to the proposed transaction; (x) the risk that disruptions from the proposed transaction will harm Cloudera’s business, including current plans and operations; (xi) the ability of Cloudera to retain and hire key personnel; (xii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed transaction; (xiii) legislative, regulatory and economic developments affecting Cloudera’s business; (xiv) general economic and market developments and conditions; (xv) the evolving legal, regulatory and tax regimes under which Cloudera operates; (xvi) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect Cloudera’s financial performance; (xvii) restrictions during the pendency of the proposed transaction that may impact Cloudera’s ability to pursue certain business opportunities or strategic transactions; and (xviii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as Cloudera’s response to any of the aforementioned factors. While the list of factors presented here is considered representative, such list should not be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Cloudera’s financial condition, results of operations, or liquidity. Cloudera does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.

SOURCE Cloudera, Inc.

Related Links

http://www.cloudera.com

<< Back to Press Releases

Categories: News

Tags:

EQT Private Equity makes minority investment in DESOTEC, a leading European environmental services company

eqt
  • EQT Private Equity acquires a minority position in DESOTEC, a leading European environmental services company
  • Belgium-based DESOTEC provides mobile filtration solutions for a broad range of industrial applications through a unique closed-loop service model
  • EQT Private Equity will support DESOTEC alongside Blackstone, as the Company continues its pan-European growth strategy and fortifies its market-leading position

EQT is pleased to announce that the EQT Mid Market Europe fund (“EQT Private Equity”) has acquired a 15 percent minority stake in DESOTEC (“the Company”) alongside private equity funds managed by Blackstone (“Blackstone”). In March 2021, Blackstone agreed to acquire DESOTEC from the EQT VII fund, as part of the transaction EQT Mid Market Europe secured the option to co-invest alongside Blackstone for a minority position with board representation. EQT Private Equity has hereby decided to exercise the option.

Based in Roeselare, Belgium, DESOTEC is a leading European environmental services company with a mission to protect the planet through innovative circular filtration solutions, enabling clean water, air, and soil. The Company was founded in 1990 and is focusing on mobile purification solutions mainly based on activated carbon technology.

DESOTEC’s fleet of approximately 2,700 mobile filters is the largest of its kind in Europe and serves a broad range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals. The Company’s mobile filters enable its customers to comply with environmental regulations and sustainability requirements, through its closed-loop, “Filtration-as-a-Service” rental solution.

EQT VII acquired DESOTEC in 2017 and made significant investments in its sales and digital capabilities under its ownership period. Moreover, EQT supported DESOTEC’s technology and R&D investments to enable a more circular service offering. Today, the Company is the European market leader in its field with strong tailwinds and impressive track-record of double-digit organic growth. Under the new ownership structure, EQT Private Equity will continue to support DESOTEC alongside Blackstone on its mission to better protect the planet. The Company aims to continue its pan-European growth strategy and fortify its market-leading position.

Vesa Koskinen, Partner in EQT Private Equity’s advisory team, said, “We are impressed by the achievements of DESOTEC and its management. The Company has grown into a true environmental services leader that is well positioned for further growth. We look forward to continuing our partnership with DESOTEC’s management as we start the next chapter of the Company’s mission to better protect the planet.”

The closing of EQT VII’s exit, and EQT Mid Market Europe’s investment in DESOTEC were both completed on 31 May 2021.

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

About EQT
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.

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

About DESOTEC
DESOTEC, founded in 1990, is the leading European provider of mobile filtration technology through a unique and circular service concept, which helps protect the planet by enabling clean water, air, and soil. DESOTEC’s customer base is constantly growing thanks to a strong focus on 24/7 service and a commitment to design and deliver the best solution in close dialogue with the customer. Through in-depth expertise of industrial applications and continuous investment in mobile filters, centralised reactivation capacity and well-positioned European hubs, DESOTEC ensures that the European industry can meet the increasing regulations for a better and cleaner environment.

More info: www.desotec.com and www.desotecsustainability.com

Categories: News

ING-backed Komgo raises CHF26 million (€23.7 million) in funding round

Ing Ventures
31 May 2021  3 min read  Listen

ING-backed software company Komgo has raised CHF26 million (€23.7 million) in its third funding round from a consortium of investors including ING Ventures.

Komgo digitalises trade finance with a platform that automates finance transactions, allowing banks, traders and other participants to transact in a secure environment.

“We are very proud of the achievements of Komgo and see the initiative as a great example of the commodity trade finance community coming together to drive digital transformation,” said Annerie Vreugdenhil, head of ING Neo, the bank’s innovation unit.

Spurred by surging demand for digital services during the pandemic, Komgo has seen a 50 percent increase in trade finance transactions on its platform and a 65 percent increase in clients in the past year.

Komgo will use the funds to accelerate its expansion strategy and invest in customer success teams, which will enable the company to support clients worldwide. The funds will also be used to refine Komgo’s products and trade finance applications, such as borrowing base facilities, contract renewals, stock reconciliation and secure digital documents.

“By supporting our clients in adopting Komgo, we can serve them better. Working with Komgo enables us to increase transactional security, strengthen audit and compliance capabilities and reduce fraud across the value chain,” said Maarten Koning, global head of Trade and Commodity Finance at ING.

Categories: News

Tags:

Waterlogic enters Finland with Thoreau hospitality solution

Castik Capital

 

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of the Thoreau business of Mixtec Oy and the beverage service business of Beverage Technology Services Finland Oy.

Located in Petikko, Vantaa, Mixtec Oy launched Finland’s Thoreau franchise serving the premium segment of the HoReCa market in 2014. The acquisition of these businesses comes just months after Thoreau International was acquired by Waterlogic Sweden in January 2021. The well-respected Thoreau brand will help Waterlogic launch its hospitality offering for the first time in Finland alongside their Purezza Premium Water brand, with excellent opportunities to introduce the full range of Waterlogic office hydration solutions to all types of businesses across the country.

Founded in 1992, Waterlogic has pioneered the application of advanced technology in the design of its water dispensers to deliver the safest, best-tasting water proven effective against COVID-19, in the most sustainable way to organisations around the world. Its specialty hospitality solution Purezza delivers premium dispensing solutions that enable venues to utilise their own locally-sourced water supply and reusable glass bottles to offer to their customers, providing valuable revenue and profit-making opportunities as well as long-term environmental value.

Mattias Källemyr, CEO Waterlogic Nordic, says, “This is truly a milestone for us and will complete our vision of creating one consolidated Nordic region with Finland being the last piece of the puzzle. With this acquisition, we will launch our Purezza concept to hospitality venues in the country as well as introduce Waterlogic’s full range of solutions. We welcome our new employees in Finland to Waterlogic and wish them every success in our combined business as we continue to grow our footprint in Finland organically and through further acquisitions.”

The acquisition of Mixtec Oy’s Thoreau business brings staff and hundreds of dispensers to establish a base for Waterlogic in Finland, to include a ready-made service platform. The newly formed Waterlogic Finland Oy becomes part of the Waterlogic Nordic group alongside Norway, Denmark and Sweden, providing hydration solutions for a wide range of organisations from hospitality and HoReCa businesses to small and large offices across many sectors and industries.

Mixtec Oy Managing Director Kristian Von Bonsdorff, whojoins as Country Manager Waterlogic FinlandOy,says, “This is a very exciting opportunity to leverage the combined strength of two very established and valued hospitality brands as well as to introduce Waterlogic’s cutting-edge hydration solutions for all workplaces, ensuring Finnish people can enjoy the safest and most sustainable water wherever they work.”

Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Mixtec Oy’s Thoreau business is the most recent acquisition as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the U.S. and Canada, UK, Australia, Spain, France, Germany, Latin America and Scandinavia.

Media Contact

Rosanna Turner, Group Marketing Communications Manager

rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and accessories designed for environments such as offices, factories, hospitals,

restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the safest and most sustainable way. An extensive range of consumables and accessories adapts to customer needs and is available on subscription service to guarantee cost savings and continuous supply.

Founded in 1992, Waterlogic was one of the first companies to introduce mains-fed dispensers to customers worldwide, and has been at the forefront of the market promoting product design and water quality, the application of proprietary technologies, sustainability and world-class sales and service.

Waterlogic has its own subsidiaries in 19 countries and its core markets are the U.S, Australia and Western Europe, in particular the UK, Germany and Scandinavia. The company drives growth organically and through M&A to consolidate its lead in existing territories and extend its reach to new markets. In addition, Waterlogic’s extensive and expanding independent global distribution network spans over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. Its far-reaching market coverage means Waterlogic is the only water dispenser provider able to cover the full geographical needs of global customers under one roof. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik Capital focuses on identifying and developing investment opportunities across Europe. The investments are made by the Luxembourg based EPIC funds. The first fund, EPIC I, had a volume of €1 billion and was raised in 2014/2015. The second fund, EPIC II, had its final close in October 2020 and a volume of €1.25 billion. The third fund, EPIC I-b, closed in May 2021 with a volume of €700m and is a single asset fund that owns a controlling stake in Waterlogic. The advisor to Castik is Castik Capital Partners GmbH, based in Munich.

Back to News

 

Categories: News

Tags:

KKR Invests in EQuest

KKR

HO CHI MINH CITY, Vietnam–(BUSINESS WIRE)– EQuest Education Group (“EQuest” or “the Company”), a leading educational services provider in Vietnam, and KKR today announced that KKR has invested in EQuest. The investment will be used to support EQuest’s expansion and advance its mission to provide students in Vietnam with affordable access to world-class education.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210531005318/en/

EQuest operates a diversified portfolio across the educational sector in Vietnam, focusing on four core segments including K-12 bilingual schools, tertiary and vocational institutions, English enrichment courses, and digital learning solutions. Its K-12 portfolio, which serves more than 9,000 students in its 8 campuses, has gained a strong reputation in Vietnam where there is a rapidly growing demand for an affordable bilingual curriculum with strong efficacy. As a group, EQuest has more than 110,000 students enrolled across its segments each year, positioning the Company as one of the largest private educational services providers in Vietnam.

KKR is a leading global investment firm with US$367 billion of assets under management as of March 31, 2021. The investment is made through the KKR Global Impact Fund (“KKR Global Impact” or “the Fund”), and marks the Fund’s fourth investment globally in the educational and workforce development space as part of the Fund’s thematic focus on Lifelong Learning. The Fund is focused on generating risk-adjusted returns by investing in companies that contribute toward the United Nations Sustainable Development Goals (“SDG”). EQuest’s business directly contributes towards SDG 4 (Quality Education) by providing accessible, affordable and high-quality education to Vietnam’s emerging middle-class population.

Nguyen Quoc Toan, co-founder and CEO of EQuest, said: “Access to high-quality education and intensive English-language training is crucial for Vietnamese students to achieve their full potential. By making the access affordable at a disruptive cost, EQuest is committed to delivering world-class education and bringing accredited, world-class curriculum to more Vietnamese students to improve their competitiveness in the global arena. With the support of KKR and its sector expertise, we are confident we will be able to advance our mission to provide quality learning for Vietnam’s millions of students and contribute to the development of a skilled workforce that will support the country’s long-term growth aspirations.”

Vietnam has a growing middle-class population with rapidly increasing demand for better education. With continued trends of globalization, English has become an essential employability skill, with proficiency in the language a high priority area for Vietnam’s national education goals. The Vietnamese government has also earmarked digital learning solutions as a strong area of focus as it seeks to further improve access to education.

Chee-Wei Wong, Head of KKR Global Impact for Asia, said: “KKR Global Impact’s thematic around Lifelong Learning focuses on closing the skills gap and creating more equitable access to quality education. EQuest advances these goals: we believe lifelong learning starts at an early age and EQuest is supporting the development of the next generation through its high-quality affordable education programs with strong outcomes. KKR aims to leverage our operational experience, global network and education expertise to strengthen EQuest’s market-leading position, further build on its edtech solutions, and implement industry best practices. We look forward to working together with EQuest’s management team to advance the company’s mission and expand the reach of its impact across Vietnam.”

Ashish Shastry, Co-Head of Asia Private Equity and Head of Southeast Asia at KKR, said: “Investing in Vietnam and supporting the growth of the country’s businesses and industries is a key part of KKR’s strategy in Asia. As Vietnam continues to elevate on the world’s economic stage, access to affordable, high-quality education solutions plays an important role in meeting the nation’s objectives. We are excited to invest in EQuest and to support aspiring Vietnamese entrepreneurs like Toan – as well as EQuest’s talented team – to help realize their vision for closing the education gap in the country.”

In addition to KKR’s investment, EQuest and KKR announce that Annabelle Vultee, the former China Chief Operating Officer of EF Education First, has joined EQuest’s board of directors. Ms. Vultee brings to EQuest extensive experience in the education sector across fast-growing markets such as China and the United States as well as a passion for driving operational excellence and leveraging technology to deliver a better learning experience.

KKR Global Impact’s portfolio in Asia includes Barghest Building Performance, a Singapore-based provider of energy-saving solutions for commercial and industrial buildings; Ramky Enviro Engineers, a leading provider of environment management services in India; GreenCollar, an environmental markets project developer and investor across the carbon, water quality, bio-diversity and plastics market in Australia; and Five-Star Business Finance, a leading Indian lender to micro, small, and medium-sized enterprises. Through its private equity business, KKR has also invested in leading Vietnamese businesses including Vinhomes, the country’s largest real estate developer, and Masan MEATLife (formerly known as Masan Nutri-Science), an animal feed producer.

About EQuest

EQuest, formed through a merger in 2013 between EQuest Academy (founded in 2003) and other local education companies, is one of the largest private educational institutions in Vietnam with more than 110,000 students enrolled each year in 18 member units, including universities, colleges, vocational schools, K-12 schools, foreign language centers and education technology platforms. Since then, EQuest has grown to become a comprehensive education ecosystem, and is always committed to its mission to deliver the best educational experience to students and train them ready for the 4.0 industrial age; to provide a world-class education at an affordable cost; to turn Vietnam into a bilingual country; and to send future leaders to the top schools worldwide. For additional information about EQuest, please visit www.equest.vn.

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.

EQuest Education Group
Truong Hoang Nam
+84 336 842 102
nam.truong@equest.vn

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Zita Setiawan
+6589405835
Zita.Setiawan@secondee.kkr.com

KKR Americas
Cara Major or Miles Radcliffe-Trenner
+1 212-750-8300
Media@kkr.com

Source: KKR

Categories: News

Tags:

Agilitas-backed Reconor Group expands with acquisition of Sten & Grus Prøvestenen A/S

Agilitas

Agilitas, the pan-European mid-market private equity firm, has today announced that its portfolio company, Reconor A/S (“Reconor”), a leading environmental services company in Denmark, has entered into an agreement to acquire Sten & Grus Prøvestenen A/S (“SGP”) from Group De Cloedt (“GDC”). Reconor will integrate SGP with its resource business Norrecco. The financial terms of the deal are not being disclosed.

SGP specialises in delivering efficient environmental solutions for soil and waste management, most notably in the Greater Copenhagen area. The company is located on the Prøvestenen island and has a treatment area of approximately 75,000m2. The company has a strong focus on environmental awareness and, just like Norrecco, developed a product range including the recycling of used materials from various demolition processes into primary raw materials.

The Reconor Group, consisting of Norrecco and City Container, is one of the leading environmental services groups in Denmark, treating and remediating approximately 1.6 million tonnes of soil and handling 0.9 million tonnes of waste annually. The majority of this waste is recycled for use in secondary markets. Through its activities, Reconor contributes to the circular economy by helping Danish industrial and construction groups to meet the country’s high standards of responsible and environmentally-safe recycling.

The strategic acquisition of SGP marks the fifth add-on acquisition for Reconor since Agilitas led a management buyout of the group in 2015 and will consolidate Reconor’s plans to expand its product offering, its customer base and its geographical footprint. The addition of SGP strengthens Norrecco’s position and reinforces its capabilities, particularly in the Copenhagen area which has limited opportunities for new treatment sites. It will also further improve the recycling process of construction and civil engineering waste in the production of building materials.

Agilitas has a successful track record of creating value in the Nordic region, using its deep transformational and sector expertise built through Agilitas’s backing of the Danish and Norwegian companies Recover Nordic, Reconor, Cibicom (previously known as Teracom Danmark), and Danoffice IT.

Henrik Nordenlund, CEO of Reconor, commented: “This strategic acquisition further supports Reconor’s position in Denmark as a leading supplier of environmental solutions within soil and waste management. In addition, the acquisition opens up new business opportunities. Reconor will be even stronger in the future, ensuring the development of sustainable recycling solutions. Through the collaboration with GDC, we can expand the business areas to also include special treatment capabilities.”

Rene Gosvig, Director at GDC Denmark, said: “We are a small player in soil and waste management in the Greater Copenhagen area. Due to a rapid development in the market for environmental solutions and a strategic decision to focus on further expanding our strong position within natural resources, we have assessed that it is the right decision for us to divest the environmental activities to Reconor Group, which we believe is the right backer to further develop the company. Together with the Reconor Group, we will continue to collaborate on the synergies between the parties.”

Kevin Iermiin, of Agilitas and member of the Reconor Board, said: “Reconor is experiencing increasing demand for environmentally-oriented solutions. This acquisition will create synergies between our business units by further broadening our service offering and expanding our footprint and customer base in the Greater Copenhagen area.”

 

Martin Calderbank, Managing Partner at Agilitas, said: “This latest strategic add-on acquisition represents another significant step in Reconor’s growth and will consolidate the company’s transformation plan. Both companies are well-aligned in their commitment to developing environmental solutions to reduce waste and their combination will further bolster Reconor’s standing as a leading environmental services Group business in Denmark.”

Media enquiries to: Greenbrook – Alex Jones and James Madsen

 

+44 20 7952 2000 | agilitas@greenbrookpr.com

Categories: News

Tags:

BGF posts record-breaking results in 2020

No Comments
BGF

BGF has reported record-breaking results and surging growth in its 2020 Annual Report and Accounts, published today.

Despite the Covid-19 pandemic, BGF actively maintained its risk appetite to keep supporting the economy and backed 61 companies in 2020, investing a total of £384 million during the year. This represented an 11% increase on the previous year, and in the first quarter of 2021 an increase of over 100% on the same quarter in 2020. In total for 2020, £262 million went into new companies across a range of sectors, including life sciences, e-commerce and IT services, while a further £122 million of follow-on funding was deployed to existing portfolio businesses. 2020 was also an equally good year for exits with BGF delivering 28 exits that generated returns of £228 million.

BGF demonstrated a robust and resilient performance with a substantial increase in net assets to £2.3 billion (2019 £1.8 billion). The Group made a year-end operating profit of £346 million reflecting ongoing growth in its underlying portfolio and realisations.

Download full report here.

Stephen Welton, executive chairman, said: “We’ve gone through what we hope will be a once in- a-generation event, and learned that with determination, focus and the right allocation of capital, we can achieve amazing things. BGF’s excellent performance during the pandemic demonstrates the strength of our diversified model, our strong regional approach and the resilience of the entrepreneurs we exist to support. We’re proud that our model stood up under pressure, allowing us to continue investing at an average pace of one new investment a week, despite the upheaval of lockdowns and other challenges. No other equity investor in the land can match that rate of activity. We have a unique investment platform and capability that we want to continue to leverage in full as the economy both recovers and powers ahead in key sectors.”

Andy Gregory, chief investment officer, said: “Because we take a long-term approach to investing, we were able to see past the short-term challenges affecting some of the sectors most impacted by Covid-19, which enabled BGF to continue to deploy capital at a time when it was most needed. All in all, our investment model has proved remarkably effective during the pandemic. I’m confident that our key metrics will only increase in the year ahead.”

2020 highlights include:

An industrious year that broke records

BGF reported record profits in 2020 of £346 million. Since its launch in 2011, BGF has now deployed over £2.5 billion worth of capital and backed more than 400 companies. In 2020, BGF invested in a wide range of companies including earlier-stage businesses, growth-stage businesses and quoted companies across multiple sectors and every region of the UK and Irish economies. E-commerce, technology, life sciences, health and education businesses were standout performers, with continued positive growth across the portfolio. BGF also saw a rise in successful exits across investee businesses due to the availability of private equity capital.

Supported the portfolio during a difficult time

BGF undertook numerous measures to support its portfolio during Covid-19. These included ensuring investment teams developed even closer ties with investee companies, helping them navigate the myriad of government policies and interventions, and focusing on practical support using the full resources of BGF. BGF’s Talent Network, contracted four finance directors with specific turnaround expertise to provide ad hoc support to the portfolio and to help protect value. It also conducted a portfolio management exercise to understand the long-term impacts of Brexit. BGF worked hard to keep investing despite the short-term headwinds, believing that good businesses should not be starved of funding when they need it most. As such, BGF was able to maintain again its position as the most active investor in UK and Irish growth economy companies.

Championing diversity

In 2020, BGF was named the most active equity investor in female-led businesses in the UK by the ScaleUp Institute and Beauhurst. BGF has invested £225m since 2011 in female-led businesses, almost £30m of which was invested in 2020. BGF’s Talent Network also helped to place 11 women on the boards of BGF-backed businesses. To help increase investment in female-run businesses, BGF and Coutts, the private banking arm of NatWest, announced The UK Enterprise Fund to bring additional funding and support to entrepreneurs across the UK, with specific initiatives and programmes for female-led businesses and promoting greater diversity in management teams in general. BGF also joined the Diversity Project, an initiative calling for a more inclusive culture in the investment and asset management industry.

ESG takes center stage

In 2020, BGF became a signatory to the Principles of Responsible Investment (PRI), an initiative backed by the United Nations that encourages investors to incorporate environmental, social and governance (ESG) factors into their decision-making. BGF has taken measures to embed environmental, social and governance factors in its investment process. BGF also proactively supported businesses and sectors that are helping to solve society-wide challenges such as climate change. BGF has a team of 12 investors across its ‘Green Growth’ network with existing investments including Aceleron, whose technology allows batteries to be reused and recycled, rather than replaced. Across the portfolio, BGF has invested in businesses that develop hydrogen fuel cells, maintain wind turbines, recycle organic waste, and apply energy efficient practices in building and construction. With over £225m already committed to Green Growth, a strong and embedded regional focus, and a mission led business model with support and active governance at the heart of it, BGF is leading the way for investors to support these critical initiatives.

The Talent Network breaks records

BGF’s Talent Network passed an important milestone in 2020, having surpassed 6,000 members and placed 300 board members within its portfolio. The seven-strong Talent Network team at BGF takes a patient approach to helping companies find talent. The team also launched an Expertise-On-Demand service offering access to expert guidance on a short-term or consultancy basis. Experts cover a range of specialisms, including finance, digital marketing, cashflow management, IT and more, helping portfolio businesses to maximise their growth.

Looking ahead:

More still to do

In 2021, BGF is looking to surpass the investments made in 2020 by backing even more high-potential, high-growth companies. PwC research, released in 2020, determined there are more than 21,400 small and mid-sized companies in the UK alone that are potential targets for BGF’s investment provision. These are businesses that have outgrown the kind of early-stage funding available for start-ups, but have not yet achieved the scale of large, listed businesses. They also include the thousands of companies who may be over-indebted as a result of the pandemic. BGF is committed to supporting scaling businesses and believes that equity funding must be part of the solution to meeting these companies’ needs.

Championing innovation

BGF is the one of the most active investors in the life sciences sector. To date, it has backed more than 30 life science businesses, with its current portfolio spanning diagnostics, medtech and digital health, as well as services, software and tools supporting therapeutic development. Life sciences and the focus on R&D in areas such as pathology, biotechnology and drug discovery, has come front and centre during the pandemic. The industry has proven it plays a major role in the delivery of healthcare, and in particular driving forward innovation that has defined the UK’s response to Covid-19. That experience has generated significant activity in the healthcare sector and in life sciences, in which BGF is now a leading sector specialist, and will continue to be a primary focus in 2021.

Green Growth

BGF aims to significantly boost its investments in the field of ‘green growth’, from fuel cells to energy-efficient buildings. It has already backed more than 20 companies in this arena and is now establishing a high-powered Advisory Board to ensure the key issues and steps to deliver net zero are core to BGF’s investment strategy. There is set to be a huge amount of investment and innovation in this area and BGF is committed to making a meaningful contribution.

Looking to a global future

BGF is committed to supporting the global ambitions of its portfolio. This is particularly important in the international environment the UK now operates in, creating change and new opportunities for all businesses to forge trading partnerships and markets across the world. BGF will be deploying the skills and know-how to think globally, by ensuring access to talent and trade, building international relationships and sharing knowledge. BGF has already played a key role in helping to establish similar investment models in Canada and Australia, as well as exploring other potential opportunities to be established in the future.

Read the full report here

Categories: News

Zaion raises €9 million of funding to revolutionize the customer experience with voice and Artificial Intelligence

Fortino Capital

Paris, May 26th 2021 – Zaion’s ambition is to become the European leader in customer relationship solutions enhanced by Artificial Intelligence. This Series A round of funding led by Fortino Capital and Truffle Capital aims to accelerate its internationalization and the development of its solutions.

 

Zaion tripled recurrent revenue in 2020 in addition to a new round of funding.

Founded in Paris in 2017 by Franz Fodéré, Zaion is pleased to announce a €9 million Series A funding round from Fortino Capital, Truffle Capital, Pro BTP Innovation and Bpifrance. La France Mutualiste, a reference investor for Zaion, is also participating in the deal.

Zaion is helping companies improve their customer experience through Artificial Intelligence. Its solutions aim to:

  • improve the customer experience by placing voice at the heart of an engaging, interactive, and effective relationship,
  • speed up the digitization of customer processes by automating the processing of simple, repetitive, and high-volume conversations,
  • enhance human capital by assigning higher value-added calls to advisors,
  • reduce operational costs.

Its consistent development has enabled it to become the leading player in the French Callbot solutions market with:

  • more than 1 million inbound calls handled per month,
  • 100 Callbots in production in 5 languages and across 3 countries,
  • 50 key accounts in various sectors such as insurance, assistance, healthcare, banking, real estate, public services, automotive, transportation, and telecoms.

 

Further development of AI solutions and acceleration in Europe

Having already established a presence in Germany and Belgium, this new round of funding aims to step up Zaion’s internationalization in Europe while consolidating its leading position in France.

Through its R&D center aptly called the Zaion Lab, Zaion will continue to develop its Artificial Intelligence technologies through:

  • Voice AI (speech recognition),
  • Conversational AI (Natural Language Processing),
  • Paralinguistic AI (gender, age, tone, and emotion detection).

The company has 80 employees and is planning to double its workforce by the end of next year.

 

Franz Fodéré, founder and CEO of Zaion: “After a recurrent revenue growth of more than 200% in 2020, we want to reach a new milestone and make Zaion the undisputed leader in conversational Artificial Intelligence in Europe. Voice is the most natural channel to engage with a company or public administration. Based on this premise, our ambition is to create the customer relationship of the future through AI based on a seamless, engaging, meaningful and effective customer experience. For this new stage I am delighted to bring on board investors with a culture specific to Northern Europe and capable of supporting us in long-term international development.” 

Filip Van Innis, Investment Director at Fortino Capital: “Zaion addresses the global conversational AI market that will reach €102 billion by 2026. We believe that with its proven customer relationship experience and AI technology expertise, Zaion will transform the customer experience and significantly improve user satisfaction.” 

Bernard-Louis Roques, CEO & co-founder of Truffle Capital: “The combination of highly specialized skills in automated language processing technologies (like understanding, modeling, semantic and sentiment analysis, and retrieval) as well as an in-depth knowledge of how call centers work make Zaion the most innovative player in its market. The company’s automated language solution is a real success with insurance companies, a field where it is already a leader. The management and the team bring together exceptional talents and know-how. Through our Truffle ecosystem, we intend to contribute to Zaion’s expansion in France and Europe.” 

Dan Miller, Lead Analyst and Founder, Opus Research, Inc.: “The investment community recognizes that enterprises are investing in solution providers that make it easy to add Conversational AI into a growing number of customer care activities.” 

 

About Fortino Capital Partners 

Fortino Capital Partners is a Benelux-focused enterprise software investor with a pan European reach. Fortino Capital invests in both Venture Capital and Growth private equity assets. With offices in Antwerp and Amsterdam, Fortino Capital’s investment portfolio includes Reaqta, Oqton, Teamleader, Insided, MobileXpense, Efficy CRM, Sigma Conso and iObeya among others.

More information at www.fortinocapital.com

__

About Truffle Capital 

Truffle Capital is an independent European venture capital firm founded in 2001 specializing in life sciences such as Biotech and Medtech, and disruptive technologies in the IT sector such as Fintech and Insurtech. Its mission is to support the creation and development of young innovative companies with the potential to become the leaders of tomorrow. Chaired by Patrick Kron, alongside co-founders and Managing Directors Dr Philippe Pouletty and Bernard-Louis Roques, Truffle Capital has €700 million in assets. Since its establishment, it has raised more than €1 billion and has supported more than 75 companies in the digital technology and life sciences sectors. At the end of 2017, Truffle Capital successfully completed the first closings of its 2 new institutional funds, the Truffle Financial Innovation Fund and the Truffle BioMedTech Fund, as well as the closing of a fund dedicated to pension reserves.

More information at www.truffle.com

__

About La France Mutualiste 

La France Mutualiste group offers a complete range of insurance and savings products to individuals. This includes retirement savings (including those of veterans), as well as automotive and home related property insurance, and personal insurance related to healthcare, loans, and providence. These products are distributed through its subsidiary Média Courtage.

The group has 290,000 registered members, 346,000 contracts in its portfolio, 500 employees, 270 volunteers, 60 branches, and assets of €10.2 billion, 16% of which is in real estate. La France Mutualiste was formed in 1891 with the aim of pooling its members’ savings and upholding the human and social values of solidarity and commitment with community spirit. The company is therefore particularly motivated to help the most vulnerable people either through its social and mutual aid fund or through sponsorship initiatives.

More information at www.la-france-mutualiste.fr

___

About PRO BTP INNOVATION PRO BTP INNOVATION is a direct investment structure founded in 2018 dedicated to financing the growth of innovative companies namely operating in the Insurtech and healthcare fields to further their transformation or digitalization. This company acts on behalf of the entire PRO BTP Group.

Whether it be healthcare, providence, insurance, savings, retirement, or vacations, PRO BTP Group is the leading professional social protection group serving companies, craftsmen, employees, apprentices, and retirees in the construction industry. PRO BTP is a company of people and not of capital. Surpluses benefit its members, particularly in the form of improved guarantees and solidarity measures. The Group has no shareholders to remunerate.

Created to manage the supplementary social protection of the construction industry, the PRO BTP group is managed by representatives of the employers and employees of the profession. Today it is the 8th largest French health and provident insurance company with 5,270 employees. The group is a committed and responsible player that finances large-scale social policy and invests in the energetic transition and technological innovation through projects related to risk prevention, health, construction, and insurance.

PRO BTP is strengthening its solidarity commitment to construction professionals mainly through its Corporate Social Responsibility (CSR) policy. The Group’s ambition is to protect and serve the building and construction industry by foreseeing tomorrow’s needs.

More information at www.probtp.com

Press Relations: Sophie BALSARIN s.balsarin@probtp.com – +33 (0)1 41 79 72 61.

___

About Zaion Founded in Paris in 2017 by Franz Fodéré, Zaion is the European expert in augmented customer relationship solutions. Zaion puts voice at the heart of rich and emotional exchanges through a unique and innovative technology of Callbots, Chatbots, Voicebots and Messagingbots.

More information at www.zaion.ai

Categories: News

Adelis new partner to Nordic BioSite Group

Adelis Equity

Life science research distributor Nordic BioSite Group brings in new majority owner Adelis Equity Partners in order to further accelerate its growth and geographic expansion with the goal of becoming an even stronger partner to its suppliers and customers

Nordic BioSite Group (NBG) is a leading European supplier of research and diagnostics products, with a particularly strong position within antibodies and other research reagents. Through the combination of Nordic Biosite AB in the Nordics, Sanbio BV in Benelux and Biomol GmbH in Germany, Tellacq Partners have together with the founders and management team built a solid presence in Northern Europe. Now Adelis is brought in as a partner, to help further accelerate growth and geographical expansion.

Over the last twenty years, NBG has built a solid presence in Northern Europe, connecting researchers with the world’s leading life science products for research use. The Group’s highly skilled employees, many of whom are PhDs within the field, advise thousands of researchers across Europe on which products to use to optimise their research. A growing pan-European presence helps international suppliers cut through the complexity of serving the fragmented and heterogenous European market.

“We see substantial opportunities for expansion and know that Adelis has extensive experience in growing European life science companies,” says CEO Wilco van Hamond. “We see strong potential for creating a pan-European life science research distributor, serving suppliers across Europe”, adds Magnus Lundberg, partner at Tellacq Partners.

“NBG is a leader in each of the regions in which it operates. Life science research will continue to see strong underlying growth in a post-pandemic world – with a wealth of exciting new products continuously being launched. Connecting suppliers to the fragmented European research and diagnostics market enables high quality research output. We are impressed by NBG’s management team and skilled employees and recognise that the company’s services are of great value to its suppliers and customers. We look forward to supporting NBG build a truly pan-European distribution platform”, say Rasmus Molander and Lene Stern from Adelis.

The parties have chosen not to disclose the purchase price.

For further information:

Nordic BioSite: Wilco van Hamond, wilco.vanhamond@nordicbiosite.com, +31 653 94 19 04

Adelis Equity Partners: Rasmus Molander, rasmus.molander@adelisequity.com, +46 70-823 74 33

Adelis Equity Partners: Lene Stern, lene.stern@adelisequity.com, +46 70-281 34 24

Tellacq: Magnus Lundberg, info@tellacqpartners.com

About Nordic BioSite Group

Nordic BioSite has been a leading supplier of products for research and diagnostics for over 20 years. Together with Sanbio (Benelux) and BioMol (Germany) the Group has a highly skilled employee base across Europe who provide products, expertise and support to thousands of researchers. For further information please visit https://www.nordicbiosite.com

 

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 25 platform investments and more than 100 add-on acquisitions. Adelis today manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

Categories: News

Tags:

Advent International agrees investment in Planet to accelerate growth in global integrated payments

Advent International
  • Existing investor, Eurazeo, to share co-control with Advent, providing stability and accelerated growth for Planet
  • Investment will accelerate Planet’s global leadership in payments
  • Advent brings proven track record in payments and software

LONDON, May 28, 2021 – Planet, a global integrated payments leader, will accelerate its growth strategy with a new investment from Advent International (“Advent”), one of the largest and most experienced global private equity investors. Advent has agreed to co-ownership with Eurazeo, a leading global investment company.

Planet provides integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services to merchants in the Retail, Hospitality, Food & Beverage, Parking and Financial sectors. By partnering with Planet, merchants enhance their customers’ omnichannel experience, while generating additional revenue from value added payments services.

Advent and Eurazeo share a common vision for the business – to accelerate Planet’s existing strategy, deliver new innovations to customers faster, and further develop Planet’s position as a global leader in integrated payments.

Marc Frappier, Eurazeo Managing Partner and Board member, said: “Six years ago, we saw the potential in Planet to become a world-class payments business delivering innovative products and digital services across multiple vertical sectors. Since then, we have been delighted with Planet’s strategic direction and growth trajectory.”

Jeff Paduch, Managing Partner of Advent, said: “In today’s vertical payments landscape, it is rare to find a business with such a unique proposition and diversified product suite. Together with Eurazeo, we are excited to help Planet realise its full potential and accelerate its ambitious growth strategy.”

Patrick Waldron, CEO of Planet, said: “This new investment will accelerate the rate at which we develop and roll-out new innovations. It will ensure we are able to offer our customers and partners a world-leading range of payments solutions in keeping with consumers’ ever changing needs and expectations.”

Advent has an unparalleled track record in accelerating the growth of businesses across the payments and software industries. Worldwide since 2008, Advent has invested ~$4 billion in eight payments companies and has supported over 40 add-on acquisitions made by these companies.

About Planet

Planet is a provider of integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services. Planet helps businesses meet the needs of their customers by simplifying complex payments, helping people
spend freely. Planet serves 600,000 Merchants and 100 partner banks across more than 70 markets on five continents. Planet is part of the Eurazeo portfolio of growth companies. Planet acquired 3C Payment in August 2020.

Find out more here: www.PlanetPayment.com

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity investments across 42 countries, and as of December 31, 2020, had €62 billion ($72 billion)in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 private equity investment
professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Eurazeo

Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 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, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

Categories: News

Tags: