Category Archives: News

Projective Group, specialising in delivering (digital) change trajectories, partners up with Gimv for its further European expansion

GIMV

29/04/2021 – 07:30 | Portfolio

Gimv acquires a minority stake in Projective Group, consisting of Projective, a consulting firm specialising in operational, regulatory and digital change trajectories in financial services; and Exellys, a technology talent incubator that recruits, trains and matches young talent with its customers’ technology needs. The current partners and shareholders of the Projective Group will remain on board and retain the majority of the shares. Projective Group wants to accelerate its European expansion, with a particular focus on buy-and-build. With Gimv, Projective Group brings in a long-term partner with a strong investment capacity.

Financial institutions are constantly changing in response to continuously evolving regulation and technological innovation. To pro-actively respond to these evolutions, they need external partners with the requisite expertise to assist them with the necessary change. One of the top priorities in responding to this change is securing an inflow of scarce young digital talent, with the skills to meet the needs of end customers and to compete with new fintech companies.

With Projective and Exellys (Mechelen, Belgium – www.exellys.com), Projective Group (Brussels, Belgium – projectivegroup.com) is perfectly placed to advise on these challenges. Over the past 15 years, Projective has established its place in the financial services sector for implementing transformation journeys on the interface of business and technology. Projective has more than 150 experienced specialists with strong industry and domain expertise, and a customer-centric approach. With this successful model, Projective has grown steadily in recent years, in its Belgian home market and from offices in the Netherlands, United Kingdom, Germany and France. Exellys in turn helps companies attract and retain highly trained talent in IT and engineering functions across all sectors. With its innovative talent incubator model, Exellys has grown strongly in Belgium since its inception in 2014. In 2020, it opened its first international office in the Netherlands.

The Covid crisis has increased request for support in major (digital) change processes, coupled with an intensive focus on finding and training increasingly scarce new talent needed to maintain growth. Projective Group cannot grow fast enough internally to meet customer demand, so the team is looking for acquisitions to increase its European footprint. It is currently examining takeover candidates in the Netherlands, United Kingdom, Germany and France, with a focus on payment traffic, data, agile and life insurance.

Projective Group has high ambitions. Together with Gimv, it wants to accelerate its international growth and broaden its fields of expertise through a combination of internal growth and buy-and-build. Projective Group has a clear goal: a turnover of 100 million euros by end of 2023 with a Europe-wide team of 800 employees (c.45 million euros and 350 employees today).

Stefan Dierckx, founder and CEO of Projective Group: “Projective Group has reached a level where further international expansion through acquisitions can turbo-charge our group’s growth. With its 40 years of experience, Gimv is the perfect partner to embark on this new adventure. Gimv specializes in supporting companies that demonstrate innovative strength, entrepreneurship and ambitious growth plans. They help build those plans in order to accelerate expansion. And that is exactly what we at Projective Group want to achieve.”

Ruben Monballieu, Partner Sustainable Cities team Gimv adds: “Projective Group is a reference in the realisation of (digital) transformation processes, in a strongly-growing B2B service market. We look forward to working with Stefan Dierckx and his team to accelerate the company’s growth trajectory and actively engage in buy-and-build.”

The transaction is subject to customary closing conditions. No further financial details on this transaction are being published.

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Ardian Real Estate acquires Frankfurt office building, “Westendcarree”, from Publity

Ardian

Frankfurt am Main, 28 April 2021 – Ardian, a world leading private investment house, has signed an agreement with publity AG for the acquisition of the office building “WestendCarree” (at Grueneburgweg 14, 16-18 and Im Trutz 55) in Frankfurt am Main. The acquisition marks Ardian Real Estate’s sixth investment in Germany. The parties have agreed not to disclose financial details of the transaction.

Built in 1989, the office complex was last renovated in 2010 and spreads across five to eight stories, with around 31,000 square meters of rental space available. The property is situated in Frankfurt’s prestigious Westend district within proximity to a host of shops, restaurants and parks. The property is located downtown and well connected via four commuter rail and underground stations – with both the Alte Oper and the financial district within a short walking distance.

The building complex, is fully air-conditioned and grouped around green interior courtyards. It offers 300 parking spaces and the modular design enables all widely used office space utilization metrics. The occupancy rate currently stands at 86 percent, and a large share of the rental agreements are up for renewal over the next few years. Ardian Real Estate intends to undertake extensive upgrading measures, to achieve sustainability certification, redesign common areas, signage system and outdoor facilities.

Bernd Haggenmüller, Senior Managing Director Real Estate at Ardian and responsible for the real estate investment in Germany, said: “Investments in office space across the top seven cities in Germany remain very attractive. It seems clear that a turning point in the take-up rate for office space is emerging in Frankfurt. Now, market forecasts predict that by the end of the year this figure will have grown by over 30%, compared to last year’s figure. We can see a further increase in demand on the market as tenants no longer want to delay their decisions, and growing numbers of companies have redefined their future workplace concepts.”

He added: “We are pleased to adapt the amenities of the WestendCarree to offer state-of-the-art office space configurations and working conditions.. Our work will continue to focus on taking into account current ESG criteria and requirements resulting from the coronavirus pandemic. In view of this initial situation and outlook, we are very pleased with the acquisition of WestendCarree as a very attractive property in a market with a very tight supply.”

Photo-CP-Real-Estate-Frankfurt
©publity AG

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

COMPANIES INVOLVED IN THE TRANSACTION

The transaction was advised by buyers Herbert Smith Freehills (legal), taxes (taxes), x. Project (technology) and CBRE (market). The seller’s legal adviser was White & Case. TwainTowers mediated the transaction.

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS

ardian@charlesbarker.de  

Peter Steiner

+49 69 79409027

Jan P. Sefrin

+49 69 79409026

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Eurazeo invests in Messagebird, the world’s leading global omnichannel communication platform

Eurazeo

and its partners are pleased to announce a $200 million minority investment into MessageBird, the world’s leading global omnichannel communication platform.
Eurazeo through its Growth expertise co-leads the company’s Series C round extension together with Tiger Global and alongside funds and accounts managed by BlackRock, Owl Rock and all existing investors including Atomico and Accel. The extended $1 billion round represents Europe’s largest ever Series C, and the second largest on either side of the Atlantic.

On the back of the funding, MessageBird today announces it has entered into definitive documentation to acquire US-based SparkPost, the largest, first and only predictive email intelligence platform. The deal values SparkPost at $600 million and is expected to close in Q2 following receipt of customary regulatory approvals. The acquisition represents another important step for MessageBird in building a global omnichannel platform.
Beyond financing the strategic acquisition of SparkPost, this fundraising will enable the company to continue its geographical expansion, specifically in fast growth emerging markets. Moreover, the company plans to accelerate its investments into its software suite to help business customers increase productivity and improve customer experience.

MessageBird was founded in 2011 in the Netherlands with the ambition to transform the way businesses interact with their customers to adapt to new means of communication. The company offers a global cloud-based communication platform enabling frictionless business-to-consumer communication across 20 channels including Live-chat, Video, Voice, SMS, WhatsApp, Instagram, Google Business Messages, WeChat, Line, or Telegram.
On top of its connectivity APIs, the company has built software solutions, “Inbox” and “Flow Builder”. The former enables customer support agents to manage all customer interactions in a single, omnichannel thread, while Flow Builder allows business users to automate their communication workflows without a single line of code.

Post acquisition, the combined company will serve more than 25,000 customers, from SMBs to large enterprises, including blue chip accounts such as Disney, Facebook, Glovo, Heineken, Hugo Boss, JP Morgan, Lufthansa Airlines, PayPal, SAP and Uber, with 700 employees and have a revenue run-rate of over $500 million.

Yann du Rusquec, Partner,
« We are very proud to back MessageBird and actively contribute to one of the most exciting success stories ever started by a European company. The acquisition of SparkPost, which position MessageBird as the world’s leading omnichannel communication platform-as-a-service, is a fantastic example of how our Growth Equity strategy helps tech companies expand their horizons, consolidate their positions and realise their full potential. Our mission is to help Europe nurture tech giants. No doubt MessageBird will be one of those.»

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

EURAZEO CONTACTS

Virginie Christnacht

HEAD OF COMMUNICATIONS vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44

Pierre Bernardin
HEAD OF INVESTOR RELATIONS pbernardin@eurazeo.com
+33 (0)1 44 15 16 76

PRESS CONTACT
DAVID STURKEN
MAITLAND/AMO dsturken@maitland.co.uk+44 (0)7990 595 913

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DIF Capital Partners and PERENfra announce North American water infrastructure partnership

DIF

DIF Infrastructure Fund VI, managed by DIF Capital Partners (“DIF”) and PERENfra LLC (“PERENfra”) are pleased to announce the signing of a partnership agreement to develop and acquire water infrastructure opportunities in North America. The partnership will focus on all areas of water for municipal and industrial uses, targeting large scale investments towards development of a significant portfolio of over USD $1.5 billion.

PERENfra is led by an experienced management team with a strong network in the water sector and has several investment opportunities already in process. DIF’s complementary expertise in development and infrastructure investment as well as access to capital through its DIF Infrastructure Fund VI will help accelerate growth of the portfolio. The partnership’s investment strategy focuses on both acquisitions of operational projects and late-stage development projects targeting water efficiency and reliability while providing positive social and environmental impacts.

Jeff Nelson, Founder and CEO of PERENfra said “We are proud and excited to partner with DIF to provide essential water infrastructure in North America and beyond. There is a transition coming in water infrastructure, and as the needs for water continue to become more complex, we have built an industry leading team with the right partners to provide safe, sustainable, efficient solutions for the long-term.”

“Significant capital is required for necessary upgrades in water infrastructure systems across North America. DIF is pleased to be partnering with the experienced specialist team at PERENfra in pursuit of critical investments in essential water infrastructure.” said Marko Kremer, Head of DIF North America.

DIF was advised by Allen & Overy (legal). PERENfra was advised by Davis Graham & Stubbs (legal) and Mount Vernon Partners (transactional).

 

About DIF Capital Partners:

DIF Capital Partners is a global independent investment fund management company with approximately €8.5 billion of funds under management. Through nine investment funds, DIF Capital Partners invests in high-quality infrastructure assets that generate long-term and stable cash flows, including water, transportation, renewable energy, regulated utilities, and other infrastructure projects in North America, Europe, South America and Australia.

https://www.dif.eu/

Contact: Allard Ruijs, Partner; a.ruijs@dif.eu.

 

About PERENfra:

PERENfra is a United States based infrastructure company focused on operational and development opportunities in the water sector across various geographies. PERENfra takes a long-term approach to owning and operating essential assets and our team has a reputation of providing efficiency and certainty for our clients and partners. PERENfra currently owns and operates assets providing municipal water supply and environmental conservation.

https://www.perenfra.com/

 

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EQT Infrastructure to sell Segra Commercial Services Business

  • EQT Infrastructure to sell Segra’s Commercial Services Business, a leading fiber-based provider of bandwidth services to commercial enterprise and wholesale carrier customers in the Mid-Atlantic and Southeast regions of the U.S., to Cox Communications
  • EQT Infrastructure to retain Segra’s residential and SMB business, where EQT Infrastructure has strengthened its commitment to support the business’ next phase of growth
  • Segra was created by EQT Infrastructure through the combination of three geographically contiguous businesses into a super-regional fiber infrastructure provider with an enhanced product portfolio and improved service capabilities
  • During EQT Infrastructure’s ownership, Segra experienced substantial growth and margin expansion through its investment in both new and existing markets, strategic add-on acquisitions and other operational initiatives

EQT is pleased to announce that the EQT Infrastructure III fund (“EQT Infrastructure”) has agreed to sell Segra’s Commercial Services Business to Cox Communications (“Cox”). EQT Infrastructure will retain Segra’s residential and SMB business, which operates under the Lumos Networks and NorthState brands.

Headquartered in Charlotte, North Carolina, Segra employs more than 1,200 people and provides broadband data services across a 26,000-mile fiber network to a variety of customers including wireless carriers, healthcare providers, local government agencies, financial institutions, education institutions, and residential customers. Ongoing digitalization and outsourcing trends are driving demand for broadband services, particularly in rapidly growing US metro markets such as the ones Segra serves. Together with the management team, EQT supported Segra in its organic and inorganic growth strategies and integration success to develop into the leading super regional fiber company it is today.

At the same time, EQT and the management team scaled Segra’s residential and SMB business by building out fiber to existing and new customers as well as through strategic add-on acquisitions.    Following the transaction, EQT plans to significantly accelerate the build-out of fiber-to-the-premise (“FTTP”) throughout the region, bringing high speed fiber bandwidth for the first time to a large number of markets, many of which to date, have been disadvantaged by no or low availability of quality high speed broadband connectivity.

“We are pleased to have found a good long-term home for Segra’s Commercial Services Business with Cox. Segra has transformed into an integrated, leading provider of broadband services to a variety of enterprise and carrier customers, and we are proud of the achievements we have accomplished alongside management. We thank Tim, the management team and employees, and the advisors in the EQT Network for their vision and guidance,” said Jan Vesely, Partner and Investment Advisor at EQT. “Furthermore, we are excited to retain the residential business and to accelerate the buildout of fiber to residential and SMB customers, bringing fiber to many underserved markets.”

Timothy Biltz, CEO of Segra, said, “EQT has been a great partner throughout Segra’s transformational journey, and we thank them for their guidance and support for nearly four years. Going forward, we are excited to work with Cox and look forward to leveraging their resources, capabilities and strategic insights to meet growing customer demand and accelerate long-term growth.”

The transaction is subject to customary conditions and approvals and is expected to close later in 2021.

Bank Street Group LLC and Goldman Sachs & Co. LLC acted as financial advisors and Simpson Thacher & Bartlett LLP acted as legal advisor to Segra.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

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 Segra
Segra is one of the largest independent fiber infrastructure bandwidth companies in the Eastern U.S. It owns and operates an advanced fiber infrastructure network throughout nine Mid-Atlantic and Southeastern states. Segra provides Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice and cloud solutions, all backed by its industry-leading service and reliability. Customers include carriers, enterprises, governments, higher education and healthcare organizations. For more information about Segra’s technology and commitment to customer care, visit www.segra.com.

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Ardian sells majority stake in Lagarrigue to Naxicap Partners, following significant acceleration of the group’s growth

Ardian

Paris, April 27, 2021 – Ardian, a world leading private investment house, announces today that it has sold its stake in the Lagarrigue Group, a Toulouse headquartered, global specialist in external orthopedic devices and in the design and manufacture of large-scale orthopaedic devices for the treatment of disabilities, to Naxicap Partners.

Since Ardian Expansion conducted the investment in 2016, the Lagarrigue group has matured from a French leader to a major international player. This development is primarily the result of the nearly 25 acquisitions, which were rapidly made within a short time frame of fewer than five years. This growth has seen Lagarrigue build its international turnover from 10% in 2016 to over 30% in 2021. In Europe, the group has now become one of the market leaders in both Switzerland and Belgium. Beyond these footholds, it has also started expanding in Spain and North America. The company recorded average sales growth of over 20% annually.
Simultaneously, the company has continued to play a leading role in the digital transformation of the sector, with sales of technology solutions integrating software increasing from 5% to 11%, between 2016 and 2021.

Lagarrigue has a unique model, giving it a strong competitive advantage and significant potential for organic growth:

  • A local network provided by teams of in-house ortho-prosthetists who design innovative medical devices perfectly adapted to the needs of each patient; custom-made products account for 95% of the company’s business.
  • The integration of digital technologies, from the industrial manufacturing process (via Rodin 4D and Vorum, CAD/CAM software solutions) to the assembly of components and raw materials.
  • Components: since 2017, the group has also strengthened its positioning on this strategic activity. Lagarrigue has developed a strategy of vertical integration in the manufacture and production of components, in particular following the acquisition of G2M.

Social and Environmental Responsibility (SER) is at the heart of Lagarrigue’s business model. Accompanied by the Ardian Expansion teams, the company has built an ambitious roadmap focused on the well-being and care of all patients, inclusive of all ability, age or level of independence.

Alain Montean and Jean-Pierre Mahé, respectively CEO and Chairman of the Lagarrigue Group, stated: “The last five years with Ardian have enabled us to accelerate the transformation of our company while continuing to capitalize on the group’s values and the fundamentals of our model. Thanks to its network and resources, the Ardian Expansion team has allowed us to take a key step in our international development. Lagarrigue is now a recognized global player in its sector. We are better positioned than ever to benefit from new opportunities that are opening up for us.”

Marie Arnaud-Battandier, Managing Director in the Ardian Expansion team, commented: “We were proud to work alongside the Lagarrigue team. They have once again demonstrated all qualities necessary to innovate and grow their company to give it the place it deserves in its market. Lagarrigue’s growth potential is still significant and the group’s unique position as well as  resilience provides it  with a decisive advantage in the coming years, particularly with the ongoing market consolidation.”

“We are thrilled to announce the acquisition of a majority stake in Lagarrigue alongside Jean-Pierre Mahé, Alain Montean, Nathalie Barracetti and their teams. The Group’s expertise, its global positioning and the values of its management team make it a rare investment opportunity and a highly motivating challenge,” said Luc Bertholat, Member of the Management Board of Naxicap Partners, and his team.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow @Ardian on Twitter

ABOUT NAXICAP PARTNERS

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €4.3 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.

ABOUT NATIXIS INVESTMENT MANAGERS*

Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of more than 20 specialized investment managers globally, we apply Active Thinking® to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis Investment Managers ranks among the world’s largest asset management firms with more than $1 trillion assets under management (€906.0 billion). Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;3 Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; H2O Asset Management; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; Vega Investment Managers;4 and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions, and Natixis Advisors offers other investment services through its AIA and MPA division. Not all offerings available in all jurisdictions.

LIST OF PARTICIPANTS

  • ARDIAN

    • Marie Arnaud-Battandier, Maxime Séquier, Arthur de Salins, Romain Gautron

  • IXO PE

    • Bruno de Cambiaire, Nicolas Olivès

  • LAGARRIGUE

    • Alain Montean, Jean-Pierre Mahé, Nathalie Baracetti

  • VENDOR DUE DILIGENCES

    • Strategic: BCG (Benjamin Entraygues, Benjamin Sarfati)
    • Financial: Eight Advisory (Florent Garnier, Pierre-David Forterre, Julie Vuarchex, Richard Emery)
    • Tax: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Alexandre Tardif)
    • Legal: Valoren (Capucine Mesas)
    • Social: MGG Voltaire (Marijke Granier-Guillemarre)
    • ESG: Indefi (Emmanuel Parmentier, Joanna Tirbakh)
    • IT: Netsystem (Olivier Cazzulo, Lionel Gros)

  • M&A AND FINANCING

    • Edmond de Rothschild Corporate Finance (M&A): Arnaud Petit, Julien Donarier, Anastasia Saldi, Hamza El Abboubi, Hervé Bizot
    • Edmond de Rothschild Corporate Finance (Financing) : Grégory Fradelizi, Nicolas Lévy

  • LAWYERS

    • Weil Gotshal & Manges: Frédéric Cazals, Alexandra Stoicescu, Cassandre Porges, Nicolas Mayol

  • MANAGEMENT’S ADVISORS

    • Agilys Avocats: Baptiste Bellone, Carolle Thain-Navarro, Sophie Auvergne
    • Callisto Finance: Vincent Aymé, Tancrède Caulliez

  • NAXICAP Partners

    • Luc Bertholat, Alban Sarie, Dominique Frances, Claire Lesellier

  • M&A ADVISORS

    • Clearwater: Benjamin Zayat, Grégoire Houëdry, Marc-Aurèle Taverna
    • Oaklins: Hadrien Mollard, Jean-Pierre Chometon, Raphaël Petit

  • FINANCING ADVISORS

    • Clearwater : Laurence de Rosamel, Paul Assael

  • BUYER’SDDs

    • Strategic : Indefi (Julien Berger), Cepton Stratégies (Francis Turina-Malard, Pierbruno Ricci)
    • Financing: Accuracy (Arnaud Lambert, Mathieu Philippot)
    • Legal, social and tax: McDermott Will & Emery AARPI

  • BUYER’S LAWYER

    • McDermott Will & Emery AARPI (Henri Pieyre de Mandiargues, Stanislas Offroy, Pierre-Arnoux Mayoly)

PRESS CONTACTS

Ardian – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

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Guesty Raises $50M in Series D Funding

Apax
Following an unimaginable year in hospitality, the investment highlights the resilience and promise of alternative accommodation.

LOS ANGELES, April 27, 2021 – Guesty, the leading property management platform that automates and streamlines all complex operational needs accompanying short-term rental management, today announced it has raised $50M in Series D funding, led by the Apax Digital Fund with participation from the AMI Opportunities Fund, both advised by Apax Partners (“Apax”), and existing investors Viola Growth, Flashpoint, Vertex Ventures, Kingfisher Investment Advisors and La Maison Partners.

The round brings the company’s total funding to $110M, cementing its position as the highest-funded property management software fueling the alternative accommodation ecosystem, a competitive market in which small and large hospitality brands are increasingly relying on robust tech solutions to professionalize their operations in order to grow and scale.

“We are entering an exciting chapter in our company’s life cycle with short-term rentals having gone mainstream as a direct result of the pandemic, now catering to an increased user base that expects the comfort and privacy of a home coupled with hotel-like amenities,” said Amiad Soto, Co-Founder & CEO of Guesty. “US 2021 summer reservation volume alone is currently 282% higher compared to last year and 32% higher compared to pre-COVID, 2019 volume. These numbers highlight a bright future ahead, and Guesty is looking forward to being there every step of the way to support our customers and an industry that has shown resilience during an unimaginable year in which many had to quickly pivot and adjust their business models to stay afloat. We are coming out on the other side stronger, together as a community that believes in the evolution of travel.”

News of the round follows Guesty’s announcement earlier this month that it acquired fellow property management software and Y Combinator alum, MyVR, to expand the company’s already strong footprint in North America and bring more standardization to the space. Today, the company is also announcing it has acquired property management software, Your Porter. Both acquisitions will continue Guesty’s goal of powering hosting businesses of all sizes – ranging from small, family-run operations to enterprise-sized hospitality brands.

Guesty will use the investment and growing team to power a year of hypergrowth in key markets, enhance its product capabilities to serve diverse customer segments, onboard top-notch talent and ultimately, be a pillar of support for the entrepreneurs who have built businesses off the democratization of hospitality. The company will also continue to build out its Marketplace of third-party integration partners – from digital concierges to remote staff management systems to keyless entry solutions – in order to aid customers in providing “contact-free” guest experiences, all from within the Guesty dashboard.

“We are incredibly excited to partner with the team at Guesty to help accelerate their mission to bring sophisticated property management solutions to a rapidly shifting global ecosystem,” said Daniel O’Keefe, Managing Partner at Apax Digital, who will join Guesty’s Board of Directors. “Guesty is a stand-out player in a rapidly growing market,” added Dave Evans, Principal at Apax Digital. “Having just acquired MyVR and Your Porter, and given the company’s differentiated product offering, Guesty is now the logical platform to consolidate the market, working with hosting businesses of all sizes.”

With the understanding that travel would recover, Guesty kept busy over the last year, enhancing the platform’s functionalities to support more property types, including multi-unit listings and aparthotels. The company also focused on addressing consumer behavioral patterns that emerged as a result of the pandemic by opening up the platform to support extended stays of one month or longer.

Since graduating from Y Combinator in 2014, Guesty has continued to build a flexible, smart software in a fragmented market, providing customers in over 80 countries with an end-to-end solution in which they can manage their portfolio of properties across a variety of online travel platforms. Looking to the future, Guesty will continue to push collaboration and innovation in a dynamic ecosystem that is poised for success.

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Equistone supports WHP with third bolt-on acquisition in a month as revenue grows to over £150m

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Equistone
27 Apr 2021

The UK wireless telecommunications services business WHP Telecoms (“WHP”), backed by Equistone Partners Europe (“Equistone”), has completed the acquisition of Intelligent Communications Solutions Limited (“ICS Group”), a telecoms rigging installations and design company, marking the group’s third acquisition in the space of a month.

Following the acquisitions of Redhall Network Solutions in March and Blue Clarity Design Service in April, the addition of ICS to the WHP group represents the latest in a series of transactions reinforcing the company’s strong market position and enhancing its service capabilities. ICS Group provides full design and build services to multinational telecommunications firms.

Since completing the management buyout of WHP in 2018, Equistone has overseen a buy-and-build strategy which has enabled the group to quickly achieve scale in a competitive market. The three bolt-on transactions announced in the last month represent a continuation of an acquisitive growth plan which began with the bolt-on of Sitec, a delivery-focused project management company providing end-to-end solutions for the UK’s mobile and fixed line network operators, in 2019. The group has established a leading role in the sector and is set to maintain its robust growth profile.

In addition to this buy-and-build activity, Equistone has worked closely with an experienced management team to deliver sustained organic growth. This combination of targeted acquisitions and an effective partnership with management has led to revenue more than doubling since Equistone first invested in WHP to over £150m, while the group’s headcount has similarly increased more than twofold. The strong working relationship between Equistone and the management team continues to have a positive impact on the business, which won a number of significant contracts in the past year. The group has also begun to diversify its offering, moving into tower ownership, a key development which will allow WHP to capitalise on the increasing roll-out activity of MNOs (Mobile Network Operators).

Equistone’s strategic and growth-oriented approach to ownership leaves WHP well placed to reinforce its position as a distinguished provider of infrastructure support and deployment services to the UK telecommunications industry.

“The significant organic growth and meaningful acquisitions accomplished by WHP speak to the quality of the group’s management and is reflected in the doubling of revenue since our partnership began,” said Sebastien Leusch, Investment Director at Equistone. “With even greater expansion in its capabilities with this series of acquisitions, WHP can continue to scale and grow its already-prominent footprint in the market.”

“The underlying drivers of communications and connectivity are strong in the UK, where the mobile and fixed line infrastructure lags behind much of Europe, despite the country being one of the region’s largest economies,” said Andi Tomkinson, Partner at Equistone. “WHP is well-positioned to continue serving and advancing the telecommunications industry with its diversified offering and future growth potential.”

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KKR Supports 74 Small Businesses and Nonprofits in Latest Round of Grants to Aid Global Economic Recovery

KKR
April 27, 2021

Establishes Global Programs with Echoing Green, Impetus and AVPN to Contribute to a Diverse Ecosystem of Future Leaders and Advancing Social Justice

NEW YORK–(BUSINESS WIRE)– KKR today announced the recipients of the third round of KKR Relief Effort grants awarded through its two cornerstone programs: KKR Small Business Builders (SBB) and KKR Grants. Through these programs, which launched last year to support those impacted by the COVID-19 pandemic and its resulting economic dislocation, KKR and its employees have supported 159 small businesses with support programs and grants of $10,000 each and has provided funding to 82 nonprofits to date.

“Our communities and small businesses continue to face enormous uncertainty and the disruption of the past year will have lasting impacts that must not be overlooked. We are pleased to announce the latest group of small business and nonprofit recipients through the KKR Relief Effort and we plan to continue these programs in order to be part of the recovery and resiliency our communities need,” said Ali Hartman, KKR’s Head of Global Citizenship.

The third round of the KKR SBB program awarded $10,000 to 52 small business owners across 22 states. These grants are intended to drive growth and can be used to support the business’ daily operations, help them retain or rehire employees or pivot in response to the pandemic. The businesses in this round are 52% women-owned, 56% are minority-owned and 23% are owned by veterans or their immediate family members. All of the businesses have fewer than 40 employees and over 81% generated less than $1 million in 2019 gross revenue.

The KKR Grants program awarded more than $3.5 million to 22 nonprofits in the latest round. The recipient organizations are based US, UK, France, Ireland and India and their missions are aligned with the KKR Relief Funds’ focus on supporting communities, creating meaningful workforce opportunities and helping our frontline heroes.

KKR Grants is also investing in an accelerator model across each of its core regions. In collaboration with Echoing Green (Americas), Impetus (EMEA) and the Asian Venture Philanthropy Network (AVPN) (APAC), KKR will support social entrepreneurs and changemakers working at the intersection of COVID-19 and youth leadership. Working with these partner organizations, KKR will invest money in leaders and nonprofits on the front lines, while also creating the resources and wraparound services needed to help accelerate change and impact.

  • Echoing Green: KKR will work with Echoing Green to help find and fund three new Echoing Green Fellows, while also providing follow-on funding for up to 15 existing Fellows.
  • Impetus: KKR’s work with Impetus will aim to bring up to five new organizations and leaders from across the UK into Impetus’s accelerator program for charities.
  • AVPN: KKR is collaborating with AVPN to enable a new fund across the APAC region that will seek out the best nonprofit leaders and organizations, providing financial support for approximately eight to 12 nonprofits.

KKR SBB and KKR Grants are available to organizations around the world with recipients selected in rounds on an ongoing basis.

About KKR Small Business Builders

KKR Small Business Builders is a grants-based program created to support small business owners who are struggling to navigate the challenges of the pandemic. KKR has joined forces with small business experts at Hello Alice and GEN Global to identify diverse and dynamic small business owners in need of assistance. Through SBB, KKR is awarding $10,000 grants to small business owners who will also receive support from KKR employees and the Hello Alice platform to help them better sustain their operations, maintain or create jobs and manage or pivot their business model. Small businesses can learn more and apply for SBB grants at kkr.helloalice.com. The current round of applications is open until June 2, 2021 at 11:59pm ET.

About KKR Grants

KKR Grants is a global effort focused on identifying and supporting the most innovative and effective nonprofits whose missions are aligned with priority areas, including delivering immediate aid to vulnerable populations impacted by the pandemic, providing innovative pathways of workforce recovery and development, and supporting our heroes including teachers, first responders, essential workers and front-line medical professionals. KKR is supporting these organizations with financial grants and strategic support. The application for nonprofits is available at www.kkr.com/grants. The current round of applications is open until May 3, 2021.

KKR Small Business Builders Round 3 Recipients

Heather Alanis

KidsPark | Arlington, TX

Valeen Bhat

Private Picassos Studio | Brooklyn, NY

Austin Blose

Zack’s Farm to Table Restaurant

Catering Food Truck | New Bethlehem, PA

Bob Burke

Pot au Feu Restaurant | Providence, RI

Leslie Campbell

Sustain LA | Los Angeles, CA

Tisa Clark

J.D. Clark Professional Services, LLC | Upper Marlboro, MD

Michael Cook

Tempe Dance West, LLC | Phoenix, AZ

Amy Cornforth

Kona Zodiac Ltd. | Kailua-Kona, HI

Dante Corsi

People’s Restaurant Equipment Co. | Detroit, MI

Michelle Craig

Transcendent Law Group | New Orleans, LA

Matthew Day

United Educational Corp Programs | Randallstown, MD

Alexander De Almeida

Crispim BJJ Barra Brothers, LLC | Pleasanton, CA

Luis Garcia

Bixbee | Chicago, IL

Zachary Glassman

Passion Passport, LLC | Brooklyn, NY

David Greene

CrossFit Spero | Oak Park, IL

Jim Gunther

The Inn on First | Napa, CA

Lisa Gutierrez

Dos Hermanos Taco Truck, LLC | Columbus, OH

Renee Hillmann Prentice

Annapolis Children’s Therapy Center, LLC | Annapolis, MD

Kate Houck

The Underground Kitchen | Richmond, VA

Olufemi Ibitayo

L’Art De Vivre Spa | Los Angeles, CA

Anthony Jolly

Hot and Cool Café | Los Angeles, CA

Monica Lamont

Lamont Homes | Washington, DC

Leandro Lissa

JUMPIN’ JAMBOREE | Doral, FL

Gina Mariko Rosales

Make it Mariko | San Francisco, CA

Charles McCoy

Orchard & Ludlow | New York, NY

Rocio Burga Montero

Lima Peruvian Food, LLC | San Francisco, CA

Sam Lyeon Moon

Medipoints Acupuncture Corp | Menlo Park, CA

Marcisco Morrison

Four Fitness | Jersey City, NJ

Shana Murad

D’s Market | Scottsdale, AZ

Martin Murch

Good Eats Group | Chicago, IL

Ulviyya Nasibova

Gelateria Uli | Los Angeles, CA

Kapana Niki Sing

Hickory Street Kitchen and Cocktails, LLC | Sisseton, SD

Dustin Owens

Tru 2 Form Hoops | Glen Echo, MD

Mariechia Palmer

Spring Eternal | Oklahoma City, OK

Lisa Pena

Jamon Inc | Silver Spring, MD

Tinia Pina

Re-Nuble | New York, NY

Sarina Prabasi

Buunni Coffee | New York, NY

Amit Rabinovich

Forma | Brooklyn, NY

Kerwin Rent

EliteGamingLIVE, Inc. | Columbia, MD

Rebecca Sawhney

Hello, Marlowe, LLC | Berkeley, CA

Helen Schafer

Tiny House Coffee Roasters, LLC | Austin, TX

Eric See

Ursula | Brooklyn, NY

Shannon Seip

Bean Sprouts, LLC | Madison, WA

Quiana Shamsid-Deen

Supreme Burger | Decatur, GA

Casey Stevens

The Refill Shoppe | Ventura, CA

Robbie Stuart

Kids Worldwide | Brooklyn, NY

Hawa Sultani

Crest Café | Sacramento, CA

Todd Skog

Todd’s Room | Birmingham, MI

Michael Van Camp

Amali Restaurant | New York, NY

Alfred Walker

Walker Quality Services | Cypress, TX

Alexander Washut

Jake’s Restaurant | Northampton, MA

Anita Winters

Rock It Resell | Portland, OR

KKR Grants Round 3 Recipients

COMMUNITIES

Support for food security, safe housing, public health, and crisis relief

Aide et Espoir aux Réfugiés – Help and Hope

Lauzerte, France

Attack Poverty

Stafford, USA

Bede House Association

London, UK

Brooklyn Community Services

Brooklyn, USA

Friends of the Children

San Francisco, USA

Kid’s Meals Houston

Houston, USA

North Texas Foodbank

Plano, USA

Purposeful

London, UK

Rebuilding Together SF

San Francisco, USA

The Felix Project

London, UK

University Settlement

New York, USA

The Ali Forney Center

New York, USA

OPPORTUNITIES

Support for innovative pathways of workforce recovery and development

Down Syndrome Ireland

Walkinstown, Ireland

New York County Lawyers Association

New York, USA

Teach For America

New York, USA

The Council for Economic Education

New York, USA

Veteran’s PATH

Colorado Springs, USA

HEROES

Support for teachers, first responders, essential workers and front line medical professionals

East Palo Alto Tennis and Tutoring (EPATT)

Palo Alto, USA

Great Oaks Foundation, Inc.

New York, USA

Operation Gratitude

Encino, USA

Project Invent

East Palo Alto, USA

Teach To Lead

Mumbai, India

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.

Media Contact:

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

EMEA
Ludo Bammens
+44 20 7839 9800
kkrpr-uk@kkr.com

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

Source: KKR & Co. Inc.

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Categories: News

Eurazeo signs an exclusivity agreement with a view to investing in Aroma-Zone

Eurazeo

Eurazeo has signed an exclusivity agreement with a view to investing in Aroma-Zone, a pioneering French company making and distributing aromatherapy, natural DIY (Do-it-yourself) beauty and wellness products through a direct-to-customer online model.
Under the agreement, Eurazeo and its partners would invest around €410 million, becoming Aroma-Zone’s main shareholder alongside the founding Vausselin family, who would retain a significant stake in the company. The final terms of the deal would be announced on completion.

Aroma-Zone was set up in 1999 as a website providing information about essential oils, and has now turned into a leading online retailer that stands out by:
• making and distributing a wide range of natural DIY products and ingredients, with full transparency regarding the origin of their raw materials and their composition, and providing a large amount of information and educational content;
• offering the best quality at a fair price, based on end-to-end management of the supply chain: upstream through a network of almost 300 partners producing the raw materials, and downstream through direct sales to customers online;
• developing a loyal community of customers who recommend its products and play an active role in building the brand;
• adopting responsible and ethical business practices and a commitment to minimizing its environmental impact.

Aroma-Zone is based in Cabrières d’Avignon in Provence, employs more than 350 people and sells its products mainly online but also through a network of seven stores across France. The company is continuously innovating, inspired by constant interaction with its loyal community of customers. It has developed a unique offering of more than 1,900 products and 3,000 recipes, and currently addresses more than 2 million users per year.
Eurazeo would support Aroma-Zone with its growth strategy, providing access to its international network and expertise in the consumer goods and digital sectors. Eurazeo would help Aroma-Zone improve its online platform in France and develop it internationally, while continuing to open new stores.

About Eurazeo
• Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in assets under management, including €15 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and offering in-depth 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

EURAZEO CONTACTS

PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
email: pbernardin@eurazeo.com
Tel: +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 (0)1 44 15 76 44

PRESS CONTACT
MAITLAND/amo
DAVID STURKEN
mail: dsturken@maitland.co.uk
Tel: +44 ( 7990 595 913

 

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