Category Archives: News

Apollo Completes Merger with Athene and Finalizes Key Governance Enhancements

Fully Aligned and Capital Efficient Model Positions Apollo for Differentiated Growth and Returns

Enhanced Liquidity and Trading Profile Expected to Attract Broader, More Diversified Investor Base

NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) — Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities.

“Apollo and Athene are world-class franchises that have flourished as strategic partners, and we expect the full alignment achieved by our merger will accelerate our collective growth,” said Apollo CEO Marc Rowan. “I am thrilled to partner with experienced leaders and talented teams within both businesses that will drive our differentiated ‘One Apollo’ model forward. Together, we will continue to serve the investment return and retirement savings needs of all our clients.”

“Athene and Apollo have seen tremendous mutual benefit from our longstanding strategic relationship, and now with full alignment our value will be significantly stronger than the sum of our parts,” said Jim Belardi, CEO of Athene. “This combination is a competitive differentiator and a growth accelerant, bringing expected benefits to all of our shareholders, policyholders and important stakeholders.”

“As a combined public company, we have created a superior model to deliver highly stable and diversified earnings, to accelerate our growth, and to originate the highest quality assets for our clients. Together we articulated an attractive plan to generate $15 billion of deployable capital over the next five years and more than double our fee-related earnings. We are excited to continue executing on this plan together,” said Scott Kleinman and Jim Zelter, Co-Presidents of Apollo Asset Management.

As a result of the merger, the combined entity Apollo Global Management, Inc., led by Chief Executive Officer Marc Rowan, has two principal subsidiaries: Apollo Asset Management (formerly Apollo Global Management, Inc.), its alternative asset management business, and Athene, its retirement services business. Apollo Asset Management will continue to be led day-to-day by its Co-Presidents Scott Kleinman and Jim Zelter, while Athene will continue to be led by its CEO Jim Belardi. Apollo’s Board of Directors is led by non-executive Chair Jay Clayton and comprised of a highly qualified, diverse, and two-thirds independent group of directors representing both parts of the business. The full list of representatives can be found in the governance section of Apollo.com/stockholders.

Following the transaction, Apollo Global Management, Inc. is now the publicly traded combined entity, with approximately 600 million shares of a single class of voting stock entitled to one vote per share. Each outstanding Class A common share of Athene was exchanged for a fixed ratio of 1.149 shares of Apollo stock. The last trading day closing prices of Apollo and Athene common stock imply that the combined Apollo opens with a market capitalization of $43 billion. Management continues to expect the transaction to be credit ratings positive for all rated entities within the combined company.

As a larger and more liquid company with a single class of common stock and industry-leading corporate governance, Apollo is now eligible for inclusion in the S&P 500 index. In addition, Apollo expects the enhanced trading profile of its stock to attract a broader and diversified investor base over time.

About Apollo

Apollo is a global, high-growth alternative asset manager. In our asset management business, 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 equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and 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 of assets under management. To learn more, please visit www.apollo.com.

Forward-Looking Statements

This press release contains forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and the other non-historical statements in the discussion and analysis and expectations regarding benefits anticipated to be derived from the merger (the “Merger”) with Athene Holding Ltd. (“Athene”). These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend,” “may,” “will,” “could,” “should,” “might,” “target,” “project,” “plan,” “seek,” “continue” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. These statements are subject to certain risks, uncertainties and assumptions, including risks relating to Apollo’s dependence on certain key personnel, Apollo’s ability to raise new Apollo funds, the impact of COVID-19, the impact of energy market dislocation, market conditions, and interest rate fluctuations, generally, Apollo’s ability to manage its growth, fund performance, the variability of Apollo’s revenues, net income and cash flow, Apollo’s use of leverage to finance its businesses and investments by Apollo Funds, Athene’s ability to maintain or improve financial strength ratings, the impact of Athene’s reinsurers failing to meet their assumed obligations, Athene’s ability to manage its business in a highly regulated industry, changes in Apollo’s regulatory environment and tax status, litigation risks and Apollo’s ability to recognize the benefits expected to be derived from the Merger. Apollo believes these factors include but are not limited to those described under the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by Apollo Global Management, Inc. (formerly known as Tango Holdings, Inc.) with the Securities and Exchange Commission (the “SEC”) on November 5, 2021, Apollo Asset Management Inc.’s (“AAM,” formerly known as Apollo Global Management, Inc.) Annual Report on Form 10-K filed with the SEC on February 19, 2021 and Quarterly Report on Form 10-Q filed with the SEC on May 10, 2021, and Athene’s Annual Report on Form 10-K filed with the SEC on February 19, 2021, its amendment to its annual report on Form 10-K/A filed with the SEC on April 20, 2021 and Quarterly Report on Form 10-Q filed with the SEC on November 8, 2021, as such factors may be updated from time to time in Apollo’s, AAM’s or Athene’s periodic filings with the SEC, which are accessible on the SEC’s website at http://www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in other filings. Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts:

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

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

Amanda Carstens Steward
Head of Marketing & Corporate Communications, Athene
(515) 342 6473
Asteward@athene.com

 


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Source: Apollo Global Management, Inc.

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VES Custom Optics joins IMV Technologies Group

Montagu

IMV Technologies announced today the acquisition of VES Custom Optics (VESCO), a leading veterinary endoscopy company based in the United Kingdom. VESCO will join the companion animal business of IMV imaging, IMV Technologies’ veterinary ultrasound and diagnostic equipment division.

“We look forward to working closely with the experienced and dedicated team at VESCO.”

Gavin Mitchell, Global Companion Animal Director, IMV

Gavin Mitchell, Global Companion Animal Director for IMV imaging said, “We are delighted that VESCO has joined the IMV family. VESCO is the brand leader in the UK and has a good range of equipment backed up with an excellent service operation. We look forward to working closely with the experienced and dedicated team at VESCO.”

“Joining IMV imaging and the IMV Technologies Group gives us the very best opportunity to provide our customers with the products and services they require. We are natural partners.”

Paul Duncan, Managing Director, VESCO

Supplying rigid and flexible endoscopes for small animals and horses in the UK and Ireland, VESCO’s business has grown steadily in the last few years. Paul Duncan, Managing Director of VESCO, commented, “Joining IMV imaging and the IMV Technologies Group gives us the very best opportunity to provide our customers with the products and services they require. We are natural partners. My team and I are very excited about this next stage of our journey”.

IMV Technologies’ Board of Directors has welcomed VESCO and noted its commitment to bolster the group’s offering of veterinary imaging equipment, comprehensive services and world-class educational services to its global veterinary client base.

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Shark Tank Star Joins Forces with Cybersecurity Visionary to Form New Industry Powerhouse

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Apax
30th December 2021

Award-winning cybersecurity solutions providers Fishtech Group (“Fishtech”) and Herjavec Group (“Herjavec”) are pleased to announce their merger, backed by funds advised by Apax Partners LLP (the “Apax Funds”). The two innovative companies will operate as a single entity under a new brand to be announced in early 2022. The Apax Funds will hold a majority stake in the new company while Robert Herjavec, Founder & CEO of Herjavec Group and star of ABC’s Emmy award winning ratings giant “Shark Tank,” and Gary Fish, Founder and CEO of Fishtech Group, will each maintain significant equity in the new business.

The deal brings together the complementary strengths of both organizations, resulting in an industry powerhouse with a broad, holistic suite of best-in-class managed detection and response capabilities (MDR), professional services, and identity offerings with a global perspective to address enterprise customers’ increasingly complex information security needs. Joining the forces of Herjavec, a market leader in cloud and tech-enabled co-managed SIEM, with Fishtech, a market leader in enterprise MDR, will allow the new company to provide customers with unparalleled security and cloud expertise, driving security maturity as a competitive differentiator via advanced technology and services across the industry landscape.

At the time of the merger, the new organization brings together more than 600 security professionals operating out of 6 security operations centers (SOCs): Kansas City, Toronto, London, Ottawa, Arkansas, and Bangalore. The combined company will have one of the largest managed security engineering teams under one roof – entirely dedicated to delivering innovative solutions to enterprise clients.

Robert Herjavec, founder of Herjavec Group, will serve as Chief Executive Officer of the combined entity. Gary Fish, founder of Fishtech Group, will serve as Chairman of the Board. They will actively work to continue their track record of customer-focused success. The financial terms of the transaction (which is subject to applicable regulatory approvals) are not disclosed.

Founded in 2003 and acquired by the Apax Funds in February 2021, Herjavec has been recognized as one of the world’s most innovative cybersecurity firms and is currently ranked as the #1 MSSP in the world (Cyber Defense Magazine 2021 Top 100 MSSPs List). Fishtech was founded in 2016 to bring security to the cloud while identifying vulnerabilities and introducing next-generation solutions to help organizations minimize risk.

“We’re exceptionally proud of our results to date and even more excited about the growth to come,” said Gary Fish, CEO of Fishtech. “We’re honored that so many organizations trust Fishtech to be their managed solutions provider. With complementary offerings from Herjavec, we will transform the security industry globally.”

“We could not be more thrilled to join forces with industry pioneer Gary Fish, whom I have known for decades,” said Robert Herjavec, CEO of Herjavec Group. “We are very impressed by Fishtech’s MDR offerings and its proprietary platform built on Google Chronicle, which we consider highly differentiated. Jointly, we want to double down on the investment behind this market-leading solution and strengthen what are already deep partnerships. Having built one of the strongest tech teams in the industry and a leading portfolio of services, our customers will benefit from enhanced operations, getting stronger as we help accelerate their digital transformation.”

“We are truly excited by the combination of Herjavec and Fishtech,” said Rohan Haldea, Partner at Apax. “By putting together two best-in-class organizations, we are confident that the combined platform will become an undisputed leader in cybersecurity services in the enterprise segment and have an opportunity to redefine the market category.”

The Apax Funds, in partnership with the newly formed company’s management team, will help build on the companies’ impressive growth rates to date by enhancing international expansion efforts, continuing to invest behind differentiated technology and augmenting the talented team with additional threat intelligence and identity resources.

Polsinelli serves Fishtech Group as legal counsel and Kirkland & Ellis LLP is serving as legal counsel to Herjavec Group and Apax Funds. Momentum Cyber is serving as financial advisor to Fishtech Group and BKD, LLP as tax advisor in connection with the transaction.

Company

Herjavec Group

Global media contact

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Agilitas backs buyout of Prodieco Advanced Engineering Solutions

Agilitas

Agilitas, the pan-European mid-market private equity firm, today announces the completion of the buyout of Prodieco Advanced Engineering Solutions (the “Company” or “Prodieco”), the largest independent global provider of high-performance blister tooling change parts for the pharmaceutical industry.

Prodieco was founded in 1962 and has been a leader in precision engineering for over 60 years, designing, manufacturing, and supplying bespoke precision blister tooling change parts for blister packaging lines for pharmaceutical, animal and consumer health market products. Headquartered in Dublin, Ireland, it offers high-quality and innovative solutions to its customers, with market leading delivery times and customer service. Prodieco employs in excess of 230 highly skilled people globally and provides its products and services to customers in over 55 countries across multiple continents.

The Company helps address the growing demand for oral solid dose medication and the related growing regulation around safety, such as child resistant and senior friendly, tamper proof or high barrier packaging materials. By doing so, it provides safer and more effective ways for patients to take their medication. Its unrivalled expertise stems from decades designing and manufacturing precision products for all makes and models of blister packaging lines. This equips the Company with a unique understanding and engineering insight into the best possible tool design for each unique format, where success is dependent on high integrity design and extremely precise manufacturing tolerances.

Prodieco represents the latest example of Agilitas’s approach of backing ambitious management teams in high-quality and defensible businesses, with opportunities for multi-dimensional business transformation and a strong alignment between shareholder value and fundamental positive purpose to society or the environment.

Saad Akram of Agilitas, who will be joining the Board of Prodieco, commented: “Prodieco’s state of the art products and relentless focus on quality provide a fantastic platform with which to accelerate the Company’s growth to date and bring about step changes in performance. This Company is well-positioned within a rapidly growing market, and we are excited to support the management team’s vision to become the leading independent provider of precision tooling and parts to the life sciences industry.”

Mike O’Hara, incoming CEO of Prodieco, commented: “Agilitas’s deep sector knowledge and unequivocal support of Prodieco’s mission makes them the ideal partner to take the business forward into the next phase of growth. Agilitas’s support will be crucial in realising our ambition of becoming a globally renowned brand and delivering safe and innovative precision engineered solutions to an increasing number of pharmaceutical customers globally.”

Martin Calderbank, Managing Partner of Agilitas, said: “Prodieco’s sophisticated products are essential for ensuring medicines are securely packaged and are thus a key part of protecting patients and keeping people healthy. Together with the management team, we will seek to further improve Prodieco’s ability to develop and deliver the highest-quality blister tooling solutions and hope to bring its precision engineering skills to new markets to benefit more end patients.”

Media enquiries to: Greenbrook Communications – Alex Jones, James Madsen, and Teresa Berezowski

 

+44 20 7952 2000 | agilitas@greenbrookpr.com

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Shark Tank Star Joins Forces with Cybersecurity Visionary to Form New Industry Powerhouse

Apax
30th December 2021

Award-winning cybersecurity solutions providers Fishtech Group (“Fishtech”) and Herjavec Group (“Herjavec”) are pleased to announce their merger, backed by funds advised by Apax Partners LLP (the “Apax Funds”). The two innovative companies will operate as a single entity under a new brand to be announced in early 2022. The Apax Funds will hold a majority stake in the new company while Robert Herjavec, Founder & CEO of Herjavec Group and star of ABC’s Emmy award winning ratings giant “Shark Tank,” and Gary Fish, Founder and CEO of Fishtech Group, will each maintain significant equity in the new business.

The deal brings together the complementary strengths of both organizations, resulting in an industry powerhouse with a broad, holistic suite of best-in-class managed detection and response capabilities (MDR), professional services, and identity offerings with a global perspective to address enterprise customers’ increasingly complex information security needs. Joining the forces of Herjavec, a market leader in cloud and tech-enabled co-managed SIEM, with Fishtech, a market leader in enterprise MDR, will allow the new company to provide customers with unparalleled security and cloud expertise, driving security maturity as a competitive differentiator via advanced technology and services across the industry landscape.

At the time of the merger, the new organization brings together more than 600 security professionals operating out of 6 security operations centers (SOCs): Kansas City, Toronto, London, Ottawa, Arkansas, and Bangalore. The combined company will have one of the largest managed security engineering teams under one roof – entirely dedicated to delivering innovative solutions to enterprise clients.

Robert Herjavec, founder of Herjavec Group, will serve as Chief Executive Officer of the combined entity. Gary Fish, founder of Fishtech Group, will serve as Chairman of the Board. They will actively work to continue their track record of customer-focused success. The financial terms of the transaction (which is subject to applicable regulatory approvals) are not disclosed.

Founded in 2003 and acquired by the Apax Funds in February 2021, Herjavec has been recognized as one of the world’s most innovative cybersecurity firms and is currently ranked as the #1 MSSP in the world (Cyber Defense Magazine 2021 Top 100 MSSPs List). Fishtech was founded in 2016 to bring security to the cloud while identifying vulnerabilities and introducing next-generation solutions to help organizations minimize risk.

“We’re exceptionally proud of our results to date and even more excited about the growth to come,” said Gary Fish, CEO of Fishtech. “We’re honored that so many organizations trust Fishtech to be their managed solutions provider. With complementary offerings from Herjavec, we will transform the security industry globally.”

“We could not be more thrilled to join forces with industry pioneer Gary Fish, whom I have known for decades,” said Robert Herjavec, CEO of Herjavec Group. “We are very impressed by Fishtech’s MDR offerings and its proprietary platform built on Google Chronicle, which we consider highly differentiated. Jointly, we want to double down on the investment behind this market-leading solution and strengthen what are already deep partnerships. Having built one of the strongest tech teams in the industry and a leading portfolio of services, our customers will benefit from enhanced operations, getting stronger as we help accelerate their digital transformation.”

“We are truly excited by the combination of Herjavec and Fishtech,” said Rohan Haldea, Partner at Apax. “By putting together two best-in-class organizations, we are confident that the combined platform will become an undisputed leader in cybersecurity services in the enterprise segment and have an opportunity to redefine the market category.”

The Apax Funds, in partnership with the newly formed company’s management team, will help build on the companies’ impressive growth rates to date by enhancing international expansion efforts, continuing to invest behind differentiated technology and augmenting the talented team with additional threat intelligence and identity resources.

Polsinelli serves Fishtech Group as legal counsel and Kirkland & Ellis LLP is serving as legal counsel to Herjavec Group and Apax Funds. Momentum Cyber is serving as financial advisor to Fishtech Group and BKD, LLP as tax advisor in connection with the transaction.

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Carlyle to Acquire, Expand Data Center Company Involta

Carlyle

NEW YORK and CEDAR RAPIDS, Iowa — Dec. 22, 2021 — Global investment firm Carlyle (NASDAQ: CG) announced today that funds managed by Carlyle have agreed to acquire Involta, a data center company focused on hybrid IT and cloud infrastructure, including data center colocation, hybrid cloud, edge, fiber, and related products.

Involta owns and operates 12 data center facilities and an in-house 12,000+ fiber-mile network. These assets, paired with strategic infrastructure services, provide mission-critical IT solutions to businesses across the United States. Carlyle’s capital, resources, and expertise will help expand Involta’s operations, which today are located primarily in the Midwest as well as the Pacific Northwest and Southwestern U.S., helping grow its capabilities for both new and existing customers.

Joshua Pang, Head of Digital Infrastructure for Carlyle’s Infrastructure Group, said, “Involta has built a world-class platform with a demonstrated operating model for delivering high-quality service to customers in an increasingly complex, hybrid cloud-based world. We see significant opportunity for growth given the long-term secular demand drivers of data proliferation, digital connectivity, and the digitization of enterprise and institutional operating models. We look forward to a strong, long-term partnership and to leveraging Carlyle’s scale, resources, and access to capital to drive sustainable growth at Involta.”

Pooja Goyal, Chief Investment Officer of Carlyle’s Infrastructure Group, said, “This investment is consistent with our strategy of partnering with best-in-class businesses positioned for continued growth in the digital infrastructure space. Digital infrastructure is a key sector focus for our platform and we will continue to grow our portfolio with both high growth opportunities as well as stabilized assets.”

Bruce Lehrman, Founder and CEO of Involta, said, “We are thrilled to work with Carlyle’s proven investment team as we build on our national market leadership and support our customers’ growing digital infrastructure requirements. We see many logical opportunities to continue expanding Involta’s footprint and infrastructure, and look forward to leveraging Carlyle’s global resources and deep expertise to further accelerate our growth momentum.”

This transaction supports Carlyle’s growth in infrastructure investing, which includes investments in infrastructure companies supporting the digital economy. Earlier this year, Carlyle acquired Wyyerd Group, a leading regional fiber-to-home platform in the Southwestern United States, and recently completed an add-on fiber acquisition for that platform in December 2021.

Carlyle will acquire Involta from M/C Partners. The transaction is expected to close in the first quarter of 2022 and is subject to the satisfaction of customary closing conditions. Financial details were not disclosed.

Greenberg Traurig LLP, Bank Street Group, and TD Securities advised on this transaction.

* * * * *

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 Involta

Involta is an award-winning hybrid IT and cloud-forward consulting firm orchestrating digital transformation for the nation’s leading enterprises. Involta’s ongoing mission is rooted in partnership. Its personalized approach identifies customers’ requirements while earning their trust to ultimately deliver Superior Infrastructure and Services, Operational Excellence and People Who Deliver, keeping with the Involta brand promise.

Involta pairs strategic consulting with the unique ability to leverage owned data centers and infrastructure assets, empowering businesses with necessary security and reliability requirements. Its well-defined, rigorous process to deliver hybrid cloud, edge, consulting, and data center services have earned the company several designations, including a KLAS rating and review for partial healthcare IT outsourcing excellence. The company has also been recognized on several CRN lists and has been named one of the fastest-growing companies in America by Inc.5000 for nine consecutive years.

Involta enables customers with the power to transform their technology and the freedom to focus on their core business. To learn more about Involta, visit involta.com or follow them on LinkedIn, Twitter or Facebook.

About M/C Partners

M/C Partners is a private equity firm focused on small and mid-size businesses in the digital infrastructure and technology services sectors. For more than three decades M/C Partners has invested $2.4 billion of capital in over 140 companies, leveraging its deep industry expertise to understand long-term secular trends and identify growth opportunities. The firm is currently investing its eighth fund, partnering with promising companies and leadership teams to support, scale, and improve operations and maximize value. For more information, visit https://mcpartners.com.

Media contacts

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

Sheetal Werneke
JSA for Involta
1.866.695.3629
jsa_involta@jsa.net

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Linden Closes Oversubscribed Fund V, Raises $3 Billion of LP Commitments

Linden

Chicago, Illinois (December 23, 2021) – Linden Capital Partners (“Linden”), a leading healthcare private equity firm, today announced the closing for its fifth buyout fund, Linden Capital Partners V (“Fund V”). Similar to prior Linden buyout raises, this fundraise was oversubscribed above its hard cap of $3.0 billion of limited partner commitments.

“We are grateful for our investors’ support as we seek to create exceptional companies and deliver attractive returns,” said Tony Davis, Linden’s President and Managing Partner. “As one of the largest and longest-standing dedicated healthcare private equity firms, we believe we’re well-positioned to continue to execute our investment strategy over the course of Fund V.”

Since Linden Capital Partners’ founding in 2004, the firm has focused on middle-market healthcare investments across services, products, and distribution. Linden seeks to create long-term sustainable growth by implementing proprietary value creation programs, emphasizing human capital, and leveraging integrated financial and operating experience. Over the last several years, Linden has strategically built out its team, which has grown to 42 professionals, including a buyout investment team of 20 professionals. In addition to its buyout funds, Linden also manages a non-control, structured capital fund, which closed in June 2021.

“We’re extremely pleased with this outcome, especially in such a crowded fundraising environment,” added Katie Kornel, Linden’s Investor Relations Partner. “With this raise, we continued to diversify our investor base, which now includes investors from over 20 countries. We’re honored to manage capital on behalf of some of the world’s largest and most sophisticated institutions.”

Kirkland & Ellis LLP served as legal advisors, and PJT Park Hill served as placement advisor.

About Linden Capital Partners

Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is one of the country’s largest dedicated healthcare private equity firms. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 200 total transactions. The firm has raised over $6 billion in limited partner commitments since inception. For more information, please visit www.lindenllc.com.

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Apollo Funds Announce First Close of $816 Million Investment Supporting NextEra Energy Partners’ Acquisition of 50% Interest in 2.5 GW Renewable Energy Portfolio

Apollo logo
Transaction Leverages Apollo’s Infrastructure Expertise, Flexible Capital and Institutional Relationships to Help Fuel the Clean Energy Transition

NEW YORK, Dec. 29, 2021 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have made a first close on a $816 million in a convertible equity portfolio financing agreement with NextEra Energy Partners, LP (NYSE: NEP) in a 2.5 GW contracted renewable energy generation portfolio (the “Portfolio”). Participation in the investment by leading pensions and insurers underscores the attractiveness of the assets and a shared interest among Apollo and some of the world’s leading institutions to support the clean energy transition.

“In our view, this transaction has many hallmarks of how Apollo is helping to facilitate the clean energy transition, combining our infrastructure expertise, strong institutional relationships and a flexible, scaled capital base to commit in size and with speed to transactions of this nature,” said Geoff Strong, Apollo Partner and Co-Head of Infrastructure and Natural Resources.

Craig Farr, Apollo Partner and Head of Capital Solutions, said, “This transaction showcases our ability to bring bespoke, scaled investment opportunities to our institutional partners, while serving as a solutions partner to NextEra, helping them to redeploy capital into new, earlier stage renewable energy opportunities.”

The Portfolio consists of 13 utility-scale wind and solar assets, three of which include battery storage, that are geographically diversified across nine US states. The assets have in place long-term power purchase agreements with diversified, investment-grade counterparties. NextEra, one of the largest global renewable energy producers, will provide asset management and O&M services to the portfolio, aligning Apollo with a world-class operating partner.

Apollo, through its managed funds and accounts, has been one of the most active alternative investors in energy transition equity, debt and hybrid investments, ranging from renewable energy assets and infrastructure, including offshore and onshore wind, solar and storage, to carbon reduction technologies, to helping finance the transformation of traditional energy companies toward a cleaner future.

In the transaction, Allen & Overy LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Apollo Funds.

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.

Apollo Contact Information

For Investors:
Noah Gunn
Global Head of Investor Relations
(212) 822-0540
IR@apollo.com

For Media:
Joanna Rose
Global Head of Corporate Communications
(212) 822-0491
Communications@apollo.com


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Source: Apollo Global Management, Inc.

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Nordic Capital exits investment in Vizrt Group to a new Nordic Capital-led consortium to further support successful growth journey

Nordic Capital
DECEMBER 28 2021
Nordic Capital exits investment in Vizrt Group to a new Nordic Capital-led consortium to further support successful growth journey Image

 

A Nordic Capital investment vehicle is exiting its investment in Vizrt Group to a new Nordic Capital-led consortium, comprising a secondary acquisition vehicle and other Nordic Capital investment vehicles. This transaction will allow Nordic Capital, alongside the Vizrt management team, to continue to support the business and its strategy over its next ownership cycle, providing capital to further fuel the strong growth momentum.

The secondary acquisition vehicle, which forms part of the new Nordic Capital-led acquiring consortium, was established with investment vehicles managed or advised by Goldman Sachs Asset Management’s Vintage Funds, Pantheon and Coller Capital as co-leads.

Vizrt is a global leader in production software for live video production, serving the world’s best storytellers from tier one sports and news producers through to corporate, education and Pro-AV markets. Building on Vizrt’s leading technology platform, strong customer relationships and reputation for operational excellence, Nordic Capital has entered into a strategic transaction to enable it to further invest through a new consortium led by it in the ongoing development of the business. The aim is to further support Vizrt’s continued transition to a SaaS business model, accelerate new offerings, expanding its operational capabilities and pursuing add-on investments to complement the offering and further accelerate the group’s growth.

Following Nordic Capital’s initial investment in 2015, Vizrt has continued its innovation leadership in graphics and live production software, successfully expanded into new markets and regions and is today a global leading software provider for software defined visual storytelling solutions. During Nordic Capital’s ownership, expansion initiatives and product investments has doubled Vizrt’s revenues and accelerated organic growth leading to tripled profits. Furthermore, a top tier, globally recognised management team has been added, high calibre talent has been attracted throughout the business, and the IP video technology focus has been further enhanced with the acquisitions of NewTek and NDI.

“Vizrt is an exciting company that has consistently performed during Nordic Capital’s ownership. This transaction is an opportunity for Nordic Capital to continue to support Vizrt’s high-caliber management team and to further develop the company which has an exciting future ahead with strong growth potential. Vizrt will continue to benefit from Nordic Capital’s strong capabilities as software investor with an outstanding network and know-how in operational excellence. We are excited for Nordic Capital to have the opportunity to continue the journey together with Vizrt’s team who share the same vision of building a leading video software company which will drive the industry shift to IP and cloud adoption”, said Fredrik Näslund, Partner and Head of Technology & Payments at Nordic Capital Advisors.

“This continued investment validates the growth strategy we have embarked upon with Nordic Capital and is a strong endorsement of the capabilities of our team and the value we deliver for our customers every day. It will help us to better meet the evolving needs of our customers in the future by allowing us to realise our development plans, further deepening our innovative service offering”, said Michael Hallén, CEO of Vizrt.

Technology & Payments is one of Nordic Capital’s focus sector where it is has a long and extensive history and experience of investing and supporting sustainable growth in technology software companies. To date, Nordic Capital has deployed more than EUR 5.4 billion of equity across 23 technology companies since 2001 and has significant experience in software as well as payments.

Financial terms of the transaction were not disclosed, with completion of the transaction remaining subject to certain conditions such as satisfactory clearance from relevant anti-trust authorities.

Nordic Capital was advised in the process by, among others, Evercore as financial advisor, Kirkland & Ellis as lead legal counsel and Gernandt & Danielsson as Swedish legal counsel.

Press contacts:

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

Vizrt

Steve Wind-Mozley, Chief Marketing Officer
e-mail: swm@vizrt.com


About Vizrt
Vizrt is a global leader in production software for live video production, with large and diversified product segments serving News & Entertainment, Sports & eSports, Enterprise & Org. and Digital Industries.  The group contains three of the strongest names in the media and entertainment technology industry; NewTek, NDI® and Vizrt, all three being creative businesses, built on innovation and grown by the group’s people, with the goal of becoming the most recommended solution provider in the markets they serve. Vizrt combines strategic pillars of Content-Centricity, Software-Defined, IP First, and Innovation to increase its customers’ success in delivering engaging and immersive content to their audiences. Vizrt Group is a global and diverse organisation with over 600 employees from 58 different nationalities, with offices in 16 countries worldwide. For more information, please see www.vizrt.com

 

About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

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Gaming1 partners with CVC

Gaming1, the entertainment branch of Ardent Group, has signed a transformational deal for their next phase of growth.  The active shareholders in the Liège-based company, the leader in the Belgian gaming market, have partnered with CVC Capital Partners Fund VIII. CVC will bring their expertise to support the group’s growth in becoming a global reference in the regulated online gaming markets thanks to the continued development of their own technology and through their unique omnichannel approach.

A strong company growing quickly
The history of the group’s entertainment activities started in 1992 in Liège, parallel to the development of their land-based network, the company progressively developed a digital offering through their own technology platform. Today, as well as being a Belgian leader, Gaming1 is present in 9 countries around the world, including Portugal, France and the United States with their joint venture Gamewise founded with the American giant Delaware North.

Only active in regulated markets, Gaming1 is exclusively positioned in legal, responsible and ethical gaming. Gaming1 strives to offer the best player experience, in a responsible way focused on regulated markets. The group has around 1,300 employees, including more than 400 in their digital hub in Liège.

To accelerate their growth and become a worldwide reference on the regulated online gaming market, the company wants to partner with a new shareholder capable of bringing global, sector and digital expertise. Emmanuel Mewissen, Sylvain Boniver and Nicolas Léonard, historical shareholders of Gaming1, will continue to be the reference shareholders in Gaming1 and look forward to post-completion partnering with CVC, once the regulatory approvals are in place. Throughout the process, Gaming1 was assisted by the financial advice of BNP Paribas Corporate Finance.

An experienced, first-class investor, fully aligned with Gaming1’s growth strategy
CVC is a leading global investment firm with US$125 billion of assets under management. CVC has experience in the sector through CVC funds’ investments in Tipico, the German sports betting company, the Italian operator Sisal, and the English business Sky Bet. They also have significant knowledge of the digital space through CVC funds’ investments such as ironSource, a leader in mobile advertising and mobile gaming technology markets, and Aleph, a leading global enabler of digital advertising.

CVC has an international network of 25 offices, including 13 in Europe, and an established team in the Belgian market. This choice also allows Gaming1 to stay loyal to their roots and continue to contribute to the development of the country’s economic fabric, a core element of Gaming1’s mission.

Emmanuel Mewissen, CEO and Founder of Ardent Group, explained this choice: “In a rapidly changing world, the key to success is adapting. By partnering with CVC, we will benefit from their global, sector and technology expertise, which will support our company to continue on our successful growth path and further build our digital capabilities. We will stay loyal to our values and Belgian roots, as shown by our recent move to our digital hub in the heart of Liège. This desire to anchor ourselves in and to contribute to our country’s growth is an integral part of our identity and will continue to guide us daily.”

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