Category Archives: News

Arcus announces an investment into Momentum Energy Group A/S, AEIF2’s eighth investment

Arcus

22 December 2021

London, United Kingdom (22 December 2021) – Arcus Infrastructure Partners (“Arcus”) is pleased to announce that Arcus European Infrastructure Fund 2 SCSp (“AEIF2” or the “Fund”) has completed an investment into Momentum Energy Group A/S (“Momentum” or the “Company”), an early mover in managing and optimising well located, late life, on-shore wind turbines. The Fund has acquired its stake in Momentum from the founder of the Company in a bilateral transaction and will own the majority of the business alongside the founder and key management.  

Today Momentum is a market leading, full scope provider covering all aspects of asset management of solar and wind projects during the entire value chain, and each phase of the asset’s technical and economic lifetime: Planning, Construction, Operational, Asset Life Extension, Repowering, Decommissioning and Sales & Sourcing of Projects. The Group operates ground and roof-based PV plants as well as offshore and onshore wind parks. These wide-ranging capabilities are backed up by the strong management team with almost 20 years’ experience, making Momentum among the pioneers within asset management of solar plants and wind turbines. 

Momentum owns a portfolio of 169 on-shore wind turbines with an installed capacity of c. 130MW. The portfolio has a capacity-weighted average age of 20 years and is being acquired in part due to its repowering and lifetime extension potential for up to c. 300MW. Furthermore, Momentum has a greenfield renewal energy development pipeline of c. 600MW across Denmark and Germany (predominantly on-shore wind and some solar), and the potential to repower an offshore/nearshore wind site in Sweden for up to 70MW. Momentum also manages a portfolio of c. 200 external asset management contracts under short-term rolling arrangements. 

Commenting on the acquisition, Ian Harding, Managing Partner and Head of Origination at Arcus said: “We are extremely pleased to announce our investment in Momentum. This marks our eighth investment for AEIF2 and the third investment in the energy sector. The investment in Momentum represents a strong fit with the Fund’s investment strategy of targeting mid-market, value-add infrastructure businesses in Europe with a strong ESG profile. Acquiring a renewable energy business adds another dimension to the fund portfolio and demonstrates Arcus’ ability to use our strong sector knowledge to identify and invest in high quality infrastructure businesses”. 

Stefano Brugnolo, Arcus Partner and Head of Energy Origination who led the transaction said: “The Origination Team has for more than two years been actively exploring potential investments in the European wind segment, an area that offers large opportunities to maximise the value of existing renewables capacity.  In early 2021, the Arcus Energy Origination team identified Momentum as an experienced operator with a unique mix of skills that makes it an ideal entry point for a value-add investment strategy. We secured a period of exclusivity and worked effectively to diligence the business and execute on a bilateral basis. We are delighted to be working with Kim and the senior management of Momentum on the future growth of the business to consolidate the fragmented market and undertake repowering, upgrade, lifetime extension and scale opportunities”. 

Kim Madsen, CEO of Momentum, commented: “We are delighted to get Arcus onboard as our new majority shareholder. Momentum has grown rapidly over the last few years, growing from 23 employees to +65 employees in just the last 18 months. To be able to continue this strong growth also in the years ahead, keeping Momentum as a key player in a more fragmented and mature renewable energy market, it was necessary to bring more international and financial resources onboard, if we are to release Momentums full potential. I am proud of my Team and on my own behalf, that Arcus decided to go all the way by investing a majority stake in Momentum, but also to team up with my colleagues and me, trusting that we are the right platform to grow from, to participate in forming a greener future for all of us”. 

22 December 2021  

 

Arcus Media Contacts: 

Debbie Johnston  E: debbie@sprengthomson.com 

T: +44 7532 183811 

 Callum Spreng E: callum@sprengthomson.com    

T: +44 7803 970103 

    

About Momentum 

Established in 2005 by the CEO and founder Kim Madsen, Momentum rapidly developed to become a successful wind asset management services business. The unique business model and valuable niche expertise in the aging wind segment allowed for the development of a unique range of optimisation solutions. Today Momentum comprises three key verticals that complement each other, and is an integrated wind business with unique expertise and broad experience across development, investment, asset management and technical services.  

About Arcus 

Arcus Infrastructure Partners is an independent fund manager focused solely on long-term investments in European infrastructure. Arcus invests on behalf of institutional investors through discretionary funds and special co-investment vehicles and, through its subsidiaries, currently manages investments with an aggregate enterprise value in excess of EUR 19bn (as of 30 September 2021).  Arcus targets mid-market, value-add infrastructure investments, with a particular focus on businesses in the digital, transport and energy sectors. 

www.arcusip.com

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Formstack Announces $425 Million Growth Investment from PSG and Silversmith Capital Partners

New investment will further accelerate Formstack’s mission to help organizations automate manual processes, deliver solutions quicker, and go from idea to workflow in minutes – all with clicks, not code

Formstack, a workplace productivity platform that empowers anyone to digitize what matters, automate workflows, and fix processes—all without code—today announced it has secured a $425 million growth investment led by Silversmith Capital Partners and returning investor PSG. The investment comes on the heels of Formstack seeing rapid global adoption of its no-code workplace productivity platform by thousands of customers.

Launched in 2006, Formstack empowers anyone to quickly and easily build custom forms, create documents, and collect eSignatures—all without code. More than 238,000 users across more than 25,000 organizations worldwide—including Cleveland Clinic, NHL, Netflix, Twitter, and Butler University—have turned to Formstack to digitize and automate everything from simple tasks to complex enterprise processes. Whether it’s improving the patient intake or loan origination process or automating sales and marketing workflows, customers report saving an average of 17 work hours per week using Formstack—ultimately creating massive efficiencies and impacting the customer experience.

“We’ve spent the past 15 years helping organizations accelerate work and unlock more of their workforces with no-code productivity solutions, but never has the need for our platform been more apparent,” said Chris Byers, CEO of Formstack. “Customers across nearly all industries are using Formstack to build for their immediate needs—digitizing and automating business processes—and also scaling with Formstack to help meet their larger, multi-year digital transformation needs. The momentum we’re seeing continues to validate our belief that the key to digital transformation success is all about empowering non-technical employees with no-code workflow automation solutions.”

The latest funding was led by PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies, and new investor Silversmith Capital Partners, a Boston-based growth equity firm. Silversmith has a successful track record investing in workflow automation platforms, having served as an early investor in website builder Webflow in 2018 and as the first institutional investor in PDFTron, the market-leading provider of high-performance document processing technology.

Since PSG’s initial investment in 2018, Formstack has more than tripled its revenue, completed four acquisitions, made significant R&D investments, and profitably scaled to more than 250 global employees. Building on its more than 250 integrations with applications such as Microsoft, Google, HubSpot, Dropbox, Stripe, PayPal, and Zapier, Formstack also significantly expanded its Salesforce offerings to become a complete online forms, document generation, and digital signature suite, native to Salesforce. This latest investment will continue to accelerate Formstack’s growth in key business areas, including go-to-market, product development, and expansion of its remote-first team.

“The number of businesses looking to streamline and digitize business processes today is accelerating, yet a key pain point for companies is not having the technical resources to implement and maintain a solution,” said Jim Quagliaroli, Managing Partner at Silversmith. “Formstack’s no-code workflow automation solution was built to address this problem by enabling non-technical employees who understand a business use case, but don’t have the technical skills to implement a solution, to become ‘citizen-developers.’ We are thrilled to partner with Chris, his team, and our friends at PSG as the company continues to rapidly scale.”

“We believe Formstack is at the forefront of innovation in the workplace productivity space. Their talented team continues to deliver solutions to help organizations across industries operate more effectively and efficiently,” said Tom Reardon, Managing Director at PSG. “It’s been a pleasure to witness the significant growth they’ve achieved in the past several years, and we’re excited to continue to serve as a partner and work alongside Silversmith to support their expansion.”

As part of the transaction, Jim Quagliaroli and Andrew Heim, Senior Associate at PSG, will join Tom Reardon on Formstack’s Board of Directors. Kirkland & Ellis served as legal counsel to Silversmith Capital Partners; Weil, Gotshal & Manges LLP as legal counsel for PSG and Formstack; and Aeris Partners LLC as the exclusive financial advisor to PSG and Formstack.

To read more about the news and what it means for Formstack and its community, read this blog post from Formstack CEO Chris Byers. To learn more about Formstack’s open positions or to apply, visit www.formstack.com/careers.

About Formstack

Formstack is a secure workplace productivity platform built to produce ingenious solutions to the everyday work that slows organizations down. From eliminating paper forms to breaking digital silos, Formstack empowers anyone to quickly and easily build custom forms, create documents, and collect eSignatures—all without code. Launched in 2006, Formstack is trusted by over 25,000 organizations worldwide—including Cleveland Clinic, NHL, Netflix, Twitter, and Butler University—to digitize what matters, automate workflows, and fix processes. To learn more, visit www.formstack.com.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, Iodine Software, LifeStance Health, Panalgo, Unily, Upperline Health, Validity, and Webflow. The partners have served on the boards of numerous successful growth companies, including ABILITY Network, Archer Technologies, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com.

About PSG

PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London. To learn more about PSG, visit www.psgequity.com.

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Polyventive Acquires Tri-Tex, Further Expanding its Specialty Chemicals Portfolio

Arsenal Capital Partners

December 13, 2021

Calhoun, GA- Polyventive LLC (“Polyventive”) has acquired the Surfactants and Dyes & Pigments businesses of Tri-TexCo Inc and Trichromatic-West, Inc (jointly, “Tri-Tex”) from SK Capital Partners.

Tri-Tex is a specialty manufacturer of surfactants, dyes, pigments, and water-based polymers used in Textile, Personal Care, Cleaning and Industrial applications. Tri-Tex backs their products with comprehensive technical, applications, supply chain and logistics expertise. Tri-Tex has manufacturing facilities in Quebec, Canada and Los Angeles, California.

“The addition of the Tri-Tex team, product portfolio, applications expertise, and manufacturing facilities advance Polyventive’s strategy to become the premier North American developer and supplier of cost effective, environmentally forward solutions in all of our targeted growth areas.” said Zay Risinger, President of Polyventive.

Concurrent with this transaction, Tri-Tex sold its adhesives business to Meridian Adhesives Group.

About Polyventive LLC
Polyventive is a leading North American manufacturer of specialty chemical solutions for the HI&I, Water Treatment, Personal Care, Construction, Soft Floor Covering, and Textile industries. Polyventive’s manufacturing, technical capabilities, applications expertise, and focus on solving customer problems has made it the first choice for industry leading solutions. With manufacturing and logistics facilities located in Northwest Georgia, USA, the company has best in industry service levels that underpin our commitment to meeting our customer’s needs.

Contact: info@polyventive.com

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Bridgepoint to realise investment in Miller Homes

Bridgepoint

NEW YORK and EDINBURGH, Scotland, Dec. 24, 2021 — Apollo (NYSE: APO) and Miller Homes Group Limited (“Miller Homes” or the “Company”), one of the U.K.’s leading homebuilders, today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have, together with existing management, entered into a definitive agreement to acquire the Company from Bridgepoint Group plc (“Bridgepoint”). Financial terms were not disclosed.

Established in 1934, Miller Homes is a premier homebuilder in the U.K. with a focus on building high-quality family homes in regional markets in England and Scotland. On track for a record 2021, the Company builds approximately 4,000 homes a year across nine regions with ambitions to grow to 6,000 units annually in the medium-term.

Alex Humphreys, Partner at Apollo, said: “We are delighted that the Apollo Funds are acquiring Miller Homes. The Company’s reputation for exceptional customer service and high-quality homes has differentiated it as a respected leading homebuilder. Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute on their growth strategy.”

Christopher Hojlo, Partner at Apollo, said: “We continue to see opportunities to invest in the residential housing market as consumer demand for new homes accelerates. Today’s announcement further builds on Apollo’s continued commitment to the housing sector, most recently including current and pending investments by Apollo and its affiliates in U.S. homebuilder, The New Home Company, and leading U.K. specialist mortgage lender, Foundation Home Loans. We look forward to leveraging our industry knowledge and relationships to scale the business and to provide more customers with high-quality family homes.”

Chris Endsor, Chief Executive Officer of Miller Homes, said: “This is an exciting development for Miller Homes in continuing our recent strong momentum. Apollo has deep housing expertise, with a global platform, extensive resources and capital to create value for all stakeholders.

“I would like to thank the team at Bridgepoint for all the support they have provided during their ownership of the business. The past four years have witnessed a period of expansion and strong operational performance for Miller Homes, as well as having to adapt the business in exceptional circumstances. We have emerged stronger for it and are very well-placed to achieve our medium-term target of 6,000 units while maintaining the product quality and service for which we are known.”

Jamie Wyatt, partner and co-head of U.K. investment at Bridgepoint, said: “We are delighted to have supported Miller Homes and its management to grow the business over the last four years. Under our period of ownership, the number of houses sold per annum rose by a third, revenues exceeded £1 billion for the first time and profits increased by almost 50%. The business also expanded into new U.K. regions and completed two strategic acquisitions. We wish the whole team and their new investors every success in the exciting next phase of the Miller Homes journey.”

The Apollo Funds have committed financing to complete the acquisition and expect to redeem the existing financing prior to close. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.

Rothschild and Co. (Lead) and Moelis & Company LLC are serving as financial advisors to Bridgepoint, and Travers Smith is serving as legal counsel. Barclays (Lead) and HSBC are serving as financial advisors to Apollo, and Sidley Austin LLP is serving as legal counsel. Miller Homes received legal advice from DLA Piper.

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Apollo Funds to Acquire Miller Homes

Leading U.K. Homebuilder Poised for Continued Growth

NEW YORK and EDINBURGH, Scotland, Dec. 24, 2021 — Apollo (NYSE: APO) and Miller Homes Group Limited (“Miller Homes” or the “Company”), one of the U.K.’s leading homebuilders, today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have, together with existing management, entered into a definitive agreement to acquire the Company from Bridgepoint Group plc (“Bridgepoint”). Financial terms were not disclosed.

Established in 1934, Miller Homes is a premier homebuilder in the U.K. with a focus on building high-quality family homes in regional markets in England and Scotland. On track for a record 2021, the Company builds approximately 4,000 homes a year across nine regions with ambitions to grow to 6,000 units annually in the medium-term.

Alex Humphreys, Partner at Apollo, said: “We are delighted that the Apollo Funds are acquiring Miller Homes. The Company’s reputation for exceptional customer service and high-quality homes has differentiated it as a respected leading homebuilder. Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute on their growth strategy.”

Christopher Hojlo, Partner at Apollo, said: “We continue to see opportunities to invest in the residential housing market as consumer demand for new homes accelerates. Today’s announcement further builds on Apollo’s continued commitment to the housing sector, most recently including current and pending investments by Apollo and its affiliates in U.S. homebuilder, The New Home Company, and leading U.K. specialist mortgage lender, Foundation Home Loans. We look forward to leveraging our industry knowledge and relationships to scale the business and to provide more customers with high-quality family homes.”

Chris Endsor, Chief Executive Officer of Miller Homes, said: “This is an exciting development for Miller Homes in continuing our recent strong momentum. Apollo has deep housing expertise, with a global platform, extensive resources and capital to create value for all stakeholders.

“I would like to thank the team at Bridgepoint for all the support they have provided during their ownership of the business. The past four years have witnessed a period of expansion and strong operational performance for Miller Homes, as well as having to adapt the business in exceptional circumstances. We have emerged stronger for it and are very well-placed to achieve our medium- term target of 6,000 units while maintaining the product quality and service for which we are known.”

Jamie Wyatt, partner and co-head of U.K. investment at Bridgepoint, said: “We are delighted to have supported Miller Homes and its management to grow the business over the last four years. Under our period of ownership, the number of houses sold per annum rose by a third, revenues exceeded £1 billion for the first time and profits increased by almost 50%. The business also expanded into new U.K. regions and completed two strategic acquisitions. We wish the whole team and their new investors every success in the exciting next phase of the Miller Homes journey.”

The Apollo Funds have committed financing to complete the acquisition and expect to redeem the existing financing prior to close. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.

Rothschild and Co. and Moelis & Company LLC are serving as financial advisors to Bridgepoint, and Travers Smith is serving as legal counsel. Barclays (Lead) and HSBC are serving as financial advisors to Apollo, and Sidley Austin LLP is serving as legal counsel. Miller Homes received legal advice from DLA Piper.

About Apollo

Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2021, Apollo had approximately $481 billion assets under management. To learn more, visit www.apollo.com.

About Miller Homes

For over 85 years, Miller Homes has established a reputation for building outstanding quality family homes and providing forward thinking customer service. The company is committed to building homes safely, in a way which is considerate to the environment. The company has achieved 5-star status in the HBF National New Home Customer Satisfaction Survey for nine of the last 10 years. Further information is available by visiting www.millerhomes.co.uk.

About Bridgepoint

Bridgepoint Group plc is the world’s leading quoted private assets growth investor focused on the middle-market with over €30 billion AUM and a local presence in the U.S., Europe and China. We specialize in private equity and private credit and invest internationally in six principal sectors – business services, consumer, financial services, healthcare, advanced industrials and technology. For more information visit www.bridgepoint.eu.

Contacts

Apollo:
For investors:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

For media:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

Miller Homes
TB Cardew
Miller@tbcardew.com
Ed Orlebar – +44 7738 724630
Shan Shan Willenbrock – +44 7775 848537

Bridgepoint
James Murray – +44 7802 259861
james.murray@bridgepoint.eu
Christian Jones – christian.jones@bridgepoint.eu

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DIF Capital Partners reaches financial close on Goldsmiths, UK student accommodation PPP

DIF

DIF Capital Partners (“DIF”) is pleased to announce that it has closed the acquisition of a 90% stake in the Goldsmiths, University of London, student accommodation PPP. This project was acquired from a fund advised by Arlington Advisors, a UK based investment manager and student housing specialist. The investment will be made by DIF Infrastructure V. The remaining 10% stake is owned by Campus Living Villages, one of the world’s leading on-campus student accommodation owner operators which will continue operating and maintaining the asset.

The project is an operational availability-based PPP that has been operational in its current form since 2017. It comprises 469 beds across three buildings, communal spaces and an orangery. The project is operated under a 50 year concession signed in 2015. The buildings are all located within ca. 1 mile of the Goldsmiths’ campus in south-east London.

Gijs Voskuyl, Partner and Head of Investments for the DIF V and VI strategy, says: “Further to the recent financial close on LSE student accommodation PPP, DIF is excited to add another student accommodation asset to its portfolio. We look forward to partnering with a high profile higher education institution and working alongside a global leader in on-campus student accommodation”.

DIF was advised by Addleshaw Goddard (legal), AECOM (technical) and JLL (commercial), Grant Thornton (tax & accounting) and EY (financial).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

  • Traditional DIF funds target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
  • DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

 

More information:

Jorda Zuurendonk, Marketing & Communication Manager

j.zuurendonk@dif.eu

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Audax Private Equity Completes the Sale of RelaDyne, Inc. to American Industrial Partners

Audax Group

Audax Private Equity (“Audax”) today announced that it has completed the sale of RelaDyne, Inc (“RelaDyne” or the “Company”) to American Industrial Partners (“AIP”). Terms of the transaction were not disclosed.

RelaDyne is a leading provider of lubricants and distributor of less-than-truckload fuel, diesel exhaust fluid, chemicals, and other related products in the United States. RelaDyne is also an international provider of sustainability and reliability services to the commercial and industrial end-markets. The Company focuses on preventive maintenance, lowering total cost of ownership, decarbonization, and enhancing the sustainability and reliability of customers’ critical equipment and assets, and serves over 25,000 customers throughout the broad industrial, commercial, and automotive end-markets.

Don Bramley, Managing Director at Audax, said, “We are proud to have partnered with Larry and the rest of the RelaDyne team to help build the Company into a leading provider of lubricants and related services. Through organic growth and strategic acquisitions, the Company significantly expanded its product portfolio, service capabilities, and geographic presence over the last five years. We are thankful to the team for all their efforts and wish them well.”

Larry Stoddard, Chief Executive Officer of RelaDyne, said, “This is another great step in the continued evolution and strategy for RelaDyne since our formation in 2010. We thank Audax for their leadership over the past five years and look forward to partnering with AIP.”

Baird served as lead M&A advisor and Stephens served as co-advisor to RelaDyne. Kirkland & Ellis served as legal advisor to RelaDyne and Audax Private Equity.

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Carlyle Aviation Partners Affiliate to Buy AMCK Aviation’s Portfolio of Aircraft

Carlyle

NEW YORK and DUBLIN – Global investment firm Carlyle (NASDAQ: CG) announced today that Maverick Aviation Partnership LP (“Maverick”), an investment vehicle managed by Carlyle Aviation Partners, has signed an agreement to acquire AMCK Aviation’s (“AMCK”) portfolio of aircraft. Through the transaction, Maverick will acquire 125 primarily narrowbody aircraft and an order book of 20 A320/321 neo aircraft. The total appraised value of the existing fleet is in excess of $4 billion, not including the order book.

William Hoffman, Chairman of Carlyle Aviation Partners, said, “We are pleased to acquire AMCK’s attractive portfolio, comprised of primarily narrowbody aircraft whose lessee counterparties have performed well in the COVID operating environment. This transaction will help us enhance our capabilities for airline customers and all of our investors across the Carlyle Aviation platform.”

AMCK is a global aircraft leasing company headquartered in Dublin, Ireland with regional offices in Tokyo, Japan and Irvine, California. It is owned by CK Asset Holdings Limited, the majority shareholder of AMCK, and Li Ka Shing (Global) Foundation.

The transaction is expected to close in the second quarter of 2022 and is conditioned upon the satisfaction of certain customary closing conditions, including regulatory approvals.

Maverick’s primary investor is an affiliate of CPPIB Credit Investments Inc. (“CPPIB Credit Investments”), a wholly-owned subsidiary of Canada Pension Plan Investment Board, an institution with a proven track record in aircraft leasing having previously owned a significant stake in AWAS, a Dublin-based aircraft lessor. Carlyle Aviation Partners will be the asset servicer for the vehicle.

Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle’s $66 billion Global Credit platform. It is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the aviation sector. As of September 30, 2021, and excluding the planned acquisition of AMCK’s portfolio, it has total assets under management of $8.3 billion, owns, manages or is committed to purchase 311 aircraft with 106 airline lessees in 56 countries, and employs a team of more than 95 in the US, Ireland and Singapore.

Goldman Sachs is leading the acquisition financing for the transaction. Milbank is acting as legal counsel to the Carlyle Aviation Partners managed investment vehicle with Kirkland & Ellis advising on the formation of Maverick.

* * * * *

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About CK Asset Holdings

CK Asset Holdings Limited (SEHK: 1113) is a leading multinational corporation and has diverse capabilities with activities encompassing property development and investment, hotel and serviced suite operation, property and project management, aircraft leasing, pub operation and investment in infrastructure and utility asset operation.

Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to the safe harbor created thereby. These statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated.

Media contacts

Christa Zipf
Carlyle
Christa.zipf@carlyle.com
347-621-8967

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Carlyle Aviation Partners Affiliate to Buy AMCK Aviation’s Portfolio of Aircraft

Carlyle

NEW YORK and DUBLIN – Global investment firm Carlyle (NASDAQ: CG) announced today that Maverick Aviation Partnership LP (“Maverick”), an investment vehicle managed by Carlyle Aviation Partners, has signed an agreement to acquire AMCK Aviation’s (“AMCK”) portfolio of aircraft. Through the transaction, Maverick will acquire 125 primarily narrowbody aircraft and an order book of 20 A320/321 neo aircraft. The total appraised value of the existing fleet is in excess of $4 billion, not including the order book.

William Hoffman, Chairman of Carlyle Aviation Partners, said, “We are pleased to acquire AMCK’s attractive portfolio, comprised of primarily narrowbody aircraft whose lessee counterparties have performed well in the COVID operating environment. This transaction will help us enhance our capabilities for airline customers and all of our investors across the Carlyle Aviation platform.”

AMCK is a global aircraft leasing company headquartered in Dublin, Ireland with regional offices in Tokyo, Japan and Irvine, California. It is owned by CK Asset Holdings Limited, the majority shareholder of AMCK, and Li Ka Shing (Global) Foundation.

The transaction is expected to close in the second quarter of 2022 and is conditioned upon the satisfaction of certain customary closing conditions, including regulatory approvals.

Maverick’s primary investor is an affiliate of CPPIB Credit Investments Inc. (“CPPIB Credit Investments”), a wholly-owned subsidiary of Canada Pension Plan Investment Board, an institution with a proven track record in aircraft leasing having previously owned a significant stake in AWAS, a Dublin-based aircraft lessor. Carlyle Aviation Partners will be the asset servicer for the vehicle.

Carlyle Aviation Partners is the commercial aviation investment and servicing arm of Carlyle’s $66 billion Global Credit platform. It is a multi-strategy aviation investment manager that seeks to capitalize on its extensive technical knowledge, in-depth industry expertise and long-standing presence in the aviation sector. As of September 30, 2021, and excluding the planned acquisition of AMCK’s portfolio, it has total assets under management of $8.3 billion, owns, manages or is committed to purchase 311 aircraft with 106 airline lessees in 56 countries, and employs a team of more than 95 in the US, Ireland and Singapore.

Goldman Sachs is leading the acquisition financing for the transaction. Milbank is acting as legal counsel to the Carlyle Aviation Partners managed investment vehicle with Kirkland & Ellis advising on the formation of Maverick.

* * * * *

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $293 billion of assets under management as of September 30, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 26 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About CK Asset Holdings

CK Asset Holdings Limited (SEHK: 1113) is a leading multinational corporation and has diverse capabilities with activities encompassing property development and investment, hotel and serviced suite operation, property and project management, aircraft leasing, pub operation and investment in infrastructure and utility asset operation.

Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to the safe harbor created thereby. These statements can be identified by terminology such as “may,” “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated.

Media contacts

Christa Zipf
Carlyle
Christa.zipf@carlyle.com
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Maritime technology company Seaber.io to secure new growth funding

Seaber.io, the Finnish maritime technology company has raised EUR 1.5 million from Counterview Capital, Lifeline Ventures and Tesi to further develop the business.

Seaber is dedicated to reducing the environmental impact, inefficiencies and costs of bulk and break bulk shipping. Seaber’s cloud-based schedule planning, optimisation and communication solution helps charterers and shipowners to reduce emissions by improving asset utilisation.

“Seaber is set to modernize a traditional industry and bring new digital capabilities to maritime operators, driving significant environmental impact. As such it is a great fit with our Venture Bridge investment program. We are delighted to join a high-caliber investment syndicate supporting the company’s growth ambitions,” comments Juha Lehtola, Director of Tesi’s Venture Capital team.

Read more:

Press release by Seaber.io 21.12.2021

Additional information:

Juha Lehtola, Director, Venture Capital, Tesi
+358 400 647 671
juha.lehtola@tesi.fi

 

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII

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