Category Archives: News

Altamir is to sell Unilabs, an investment held via the Apax IX LP fund

Altamir

Paris, 7 December 2021 – Apax Partners LLP is to sell its investment in Unilabs to the Danish holding company A.P. Moller.

The transaction, which is expected to close in Q1 2O22, will give Altamir a MOIC of around 3.2x. This represents an uplift of more than 25% to Unilabs‘ fair value as of 30 June 2021.

Unilabs is one of Europe’s leading diagnostics companies, offering services in laboratory medicine, imaging and pathology. Supported by the Apax team, Unilabs has grown both organically and through M&A, completing 50+ acquisitions since 2017, and it currently operates in 15 countries with market-leading positions in most of them. Unilabs has also become a pan-European leader in digital radiology and pathology.

About Altamir

Altamir is a listed private equity company (Euronext Paris-B, ticker: LTA) founded in 1995, with a NAV of more than €1.2bn. Its objective is to provide shareholders with long-term capital appreciation and regular dividends by investing in a diversified portfolio of essentially unlisted companies.

Altamir’s investment policy is to invest principally via and with the funds managed or advised by Apax Partners SAS and Apax Partners LLP, two leading private equity firms that take majority or lead positions in buyouts and growth capital transactions and seek ambitious value creation objectives.

In this way, Altamir provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (Tech & Telco, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in continental Europe and large companies in Europe, North America and key emerging markets).

Altamir derives certain tax benefits from its status as a SCR (“Société de Capital Risque”). As such, Altamir is exempt from corporate tax and the company’s investors may benefit from tax exemptions, subject to specific holding-period and dividend-reinvestment conditions.

For more information: www.altamir.fr

Contact

Claire Peyssard Moses

Tel.: +33 1 53 65 01 74 / E-mail: investors@altamir.fr

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Audax Private Equity Completes the Sale of Acuant, Inc. to GB Group Plc

Audax Group

BOSTON–(BUSINESS WIRE)–Audax Private Equity (“Audax”) today announced that it has successfully completed the sale of Acuant, Inc. (“Acuant”) to GB Group Plc (“GBG”).

Acuant is a leading identity verification and KYC/AML compliance provider. Founded in 1999 and headquartered in Los Angeles, California, Acuant’s product offerings include identity verification, digital identity / eDNA proofing, and anti-fraud regulatory compliance tools. Acuant has more than 200 employees worldwide, serving a base of over 1,000 customers.

Since coming under Audax ownership in September of 2018, Acuant has achieved several key milestones of transformative growth:

  • Led significant team buildout efforts in critical engineering and go-to-market roles to accelerate revenue growth and product innovation
  • Diversified from a physical ID verification point solution to a primarily cloud-based digital identity proofing and fraud prevention platform
  • Completed the acquisitions of IdentityMind and Hello Soda to expand their product suite, breaking into new verticals and strengthening footholds within existing ones
  • Received FedRAMP Authorization for their cloud-delivered identity verification solution for government agencies

Tim Mack, Managing Director at Audax, remarked, “We are proud of the growth that Acuant has achieved in such a short period of time. The team has built a comprehensive identity verification and compliance platform, that has helped establish them as a leader in the global identity market.”

Iveshu Bhatia, Managing Director at Audax, added, “Our partnership with Acuant over the past few years has been highly collaborative. We are proud of everything the team has accomplished and wish them all the best as they continue their journey with GBG.”

Yossi Zekri, Chief Executive Officer of Acuant, commented, “Audax has played a crucial role in helping Acuant execute on its growth plan over the past few years. Through their support, we were able to establish a strong set of business fundamentals, bring on a world-class management and engineering team, and execute two highly strategic acquisitions. We are excited for the next phase of our journey with GBG as we look to become a true leader in global digital identity verification.”

Raymond James Financial served as financial advisor and Kirkland & Ellis served as legal advisor to Acuant.

 

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BigBear.ai Announces Completion of Business Combination with GigCapital4

Ae Industrial Partners

BigBear.ai Announces Completion of Business Combination with GigCapital4

Combined Company’s Modular Suite of Solutions Operationalizes AI and ML at Scale, Delivering Superior Decision Support for Defense, Intelligence and Commercial Sectors

BigBear.ai Expected to Begin Trading on NYSE Under Ticker Symbols “BBAI” and “BBAI.WS,” Respectively, on December 8, 2021

COLUMBIA, Md. & PALO ALTO, Calif. – December 7, 2021 – BigBear.ai, a leading provider of artificial intelligence (“AI”), machine learning, cloud-based big data analytics, and cyber engineering solutions, and GigCapital4, Inc. (“GigCapital4”; Nasdaq: GIGGU, GIG, GIGGW), a Private-to-Public Equity (PPE)TM entity also known as special purpose acquisition company (“SPAC”), today announced the completion of their previously announced business combination (the “Business Combination”). The Business Combination was approved at a Special Meeting of GigCapital4’s stockholders on December 3, 2021. Upon completion of the Business Combination, the combined company changed its name to BigBear.ai Holdings, Inc. (“BigBear.ai”). BigBear.ai’s shares of common stock and warrants are expected to commence trading on the NYSE on December 8, 2021 under the new ticker symbols “BBAI” and “BBAI.WS,” respectively. The transaction values BigBear.ai at a $1.378 billion pro forma enterprise value.

Fueled by machine-driven analytics, BigBear.ai’s modular, end-to-end solutions transform raw data into knowledge, enabling enhanced decision-making in real-time. With well-established roots in the national security and defense space, BigBear.ai’s platform is battle-tested to perform in complex, real time environments, and its highly flexible solutions are highly applicable to the rapidly growing commercial market and state and local government sector. The Company is well positioned to leverage the significant growth opportunities in the global AI and machine learning (“ML”) market, which is projected to grow at a compound annual growth rate of approximately 40% to $310 billion by 20261.

Dr. Reggie Brothers, Chief Executive Officer of BigBear.ai, said, “The completion of our business combination with GigCapital4 and emergence as a publicly-traded company is a landmark achievement for BigBear.ai, and one that we would not have reached without the hard work and focus of our dedicated employees and the support of our partners, GigCapital4 and AE Industrial Partners. We are in the early innings of unprecedented growth in the AI/ML landscape, and we believe our recent contract wins, which bring our total backlog to $485 million, are the tip of the iceberg. As a public company, we plan to build value for shareholders by continuing our strong momentum in the government and defense sectors and accelerating our penetration of targeted commercial markets like space, maritime, transportation & logistics, energy, retail and infrastructure.”

Dr. Raluca Dinu, Founding Managing Partner of GigCapital Global and CEO of GigCapital4, said, “The GigCapital team is very proud to have closed our fourth business combination, GigCapital4 with BigBear.ai, our third closing in 2021. We stand committed to our mission of Mentor InvestorTM to guide brilliant teams like BigBear.ai as they navigate the journey of becoming a major public enterprise. We are pleased to continue to support BigBear.ai as part of its Board of Directors as the company enters its next phase of innovation and growth, and we believe it is very well positioned to address rapidly growing customer demand for solutions that augment the human decision-making process.”

Dr. Avi Katz, Founding Managing Partner of GigCapital Global and Executive Chairman of the Board of GigCapital4, said, “We are excited about the partnership with AE Industrial Partners who entrusted BigBear.ai to partner with our team. This combination is yet again a successful demonstration of our Private-to-Public Equity (PPE)™ methodology where we partner with lead private equity owners on the next chapter in the high growth public company journey.”

Kirk Konert, Partner at AE Industrial Partners, said, “BigBear.ai has a truly differentiated position and platform in the artificial intelligence market that is experiencing significant growth. As a public company, BigBear.ai has a strong capital base to invest in additional technology development, expand commercial R&D and business development teams, and accelerate growth – both organically and through acquisitions.”

Jeff Hart, Principal at AE Industrial Partners, said, “BigBear.ai will enter the public domain with its unique and proven AI products and strong financial position bolstered by a robust contract backlog. As organizations become increasingly more complex in the amount of data they receive, BigBear.ai’s products will be a linchpin in distilling that data into insights that can be used to make better decisions. We are tremendously proud of BigBear.ai and excited to continue partnering with them on this incredible journey.”

1 MarketsAndMarkets, Inc., May, 2021

Advisors
William Blair is serving as exclusive financial advisor, Kirkland and Ellis LLP is serving as legal counsel, and Grant Thornton is serving as auditor to BigBear.ai. Oppenheimer & Co Inc. is serving as Capital Markets Advisor and Placement Agent, and BMO Capital Markets is serving as Exclusive Financial Advisor, DLA Piper LLP (US) is serving as legal counsel, and BPM LLP is serving as auditors to GigCapital4. Mayer Brown LLP is serving as legal counsel to Oppenheimer & Co Inc., BMO Capital Markets and William Blair.

About BigBear.ai
A leader in decision dominance for more than 20 years, BigBear.ai operationalizes artificial intelligence and machine learning at scale through its end-to-end data analytics platform. The company uses its proprietary AI/ML technology to support its customers’ decision-making processes and deliver practical solutions that work in complex, realistic, and imperfect data environments. In addition, BigBear.ai’s composable AI-powered platform solutions work together as often as they stand alone: Observe (data ingestion and conflation), Orient (composable machine learning at scale), and Dominate (visual anticipatory intelligence and optimization). BigBear.ai’s customers, which include the U.S. Intelligence Community, Department of Defense, the U.S. Federal Government, as well as customers in the commercial sector, rely on BigBear.ai’s high-value software products and technology to analyze information, identify and manage risk, and support mission-critical decision making. Headquartered in Columbia, Maryland, BigBear.ai has additional locations in Virginia, Massachusetts, Michigan, and California. For more information, please visit: http://bigbear.ai/ and follow BigBear.ai on Twitter: @BigBearai.

About GigCapital4
GigCapital4, Inc. is a Private-to-Public Equity (PPE)™ company, also known as a blank check company or special purpose acquisition company (SPAC), focusing on the technology, media and telecommunications (TMT) and sustainable industries. It was sponsored by GigAcquisitions4, LLC, which was founded by GigFounders, LLC, each a member entity of GigCapital Global, and formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses.

“Private-to-Public Equity (PPE)” and “Mentor Investor” are trademarks of GigFounders, LLC, an affiliate GigCapital4, and are used pursuant to agreement.

About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Space, Power & Utility Services, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at Learn more at www.aeroequity.com.

Forward-Looking Statements
This press release contains forward-looking statements 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, including the business combination between GigCapital4 and BigBear.ai and the closing of those transactions, and statements regarding BigBear.ai’s management team’s expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future, including possible business combinations, revenue growth and financial performance, product expansion and services. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on our current expectations and beliefs made by the management of GigCapital4 and BigBear.ai in light of their respective experience and their perception of historical trends, current conditions and expected future developments and their potential effects on BigBear.ai and GigCapital4 as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting BigBear.ai or GigCapital4 will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including regulatory approvals, the ability of the post-combination company to meet the NYSE listing standards, product and service acceptance, and that BigBear.ai will have sufficient capital to operate as anticipated. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Additional factors that could cause actual results to differ are discussed under the heading “Risk Factors” and in other sections of GigCapital4’s filings with the SEC, and in GigCapital4’s current and periodic reports filed or furnished from time to time with the SEC. All forward-looking statements in this press release are made as of the date hereof, based on information available to GigCapital4 and BigBear.ai as of the date hereof, and GigCapital4 and BigBear.ai assume no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

# # #

Contacts

For BigBear.ai
Reevemark
Paul Caminiti/Delia Cannan/Pam Greene
212-433-4600
bigbear.ai@reevemark.com

For GigCapital4
ICR
Brian Ruby
Brian.ruby@icrinc.com

For AE Industrial Partners
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com

Or

Caroline Luz
203-656-2829
cluz@lambert.com

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AES Completes Purchase of Wind Generation Portfolio from Carlyle in the State of New York

Carlyle

Portfolio Currently Produces Roughly 25% of State’s Wind Power

ARLINGTON, VA (Dec. 7, 2021) – The AES Corporation (NYSE: AES) today announced the completion of the purchase of Valcour Wind Energy (Valcour) from global investment firm Carlyle (NASDAQ: CG). Valcour’s six wind farms represent the largest operating wind platform in New York and play an important role in helping the state meet its commitment to have 70% of its electricity come from renewable resources by 2030.

The Valcour portfolio currently produces roughly 25% of the State of New York’s wind power and includes:

  • Three wind parks in Clinton County totaling 279 MW
  • Two wind parks in Wyoming County totaling 227 MW
  • One wind park in Franklin County totaling 106 MW

Cogentrix Energy, a Carlyle portfolio company, operated, maintained, and managed the portfolio since Carlyle’s acquisition of Valcour in 2018. AES is assuming these responsibilities going forward.

“The State of New York is a leader in the transition to a smarter, greener energy future while ensuring communities gain the economic benefits of hosting renewable energy projects. With the acquisition of the Valcour wind portfolio and our more than two decades of experience in New York, we’re proud to work together with state and local communities to help meet these admirable goals,” said Leo Moreno, AES Clean Energy President. “This wind portfolio complements our 1 GW solar pipeline in the state, allowing us to provide custom offerings such as our 24/7 product to realize a carbon-free energy grid. Thanks to the partnership between Carlyle, Cogentrix and Valcour, the Valcour portfolio also offers a strong platform upon which we can continue to build through repowering.”

Carlyle Managing Director J.B. Oldenburg said, “We are proud to have partnered with the Cogentrix and Valcour teams to help New York State continue to make progress towards its clean energy goals. As Carlyle’s first wind investment, this was a partnership where value creation and driving positive environmental change converged and we are thrilled for AES to build upon that impact. We believe the renewable and sustainable energy sector is at an inflection point and look forward to continuing to be a key contributor to progressing the transition.”

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit AES here.

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.

###

Contact

AES
Gail Chalef
571.833.8804
gail.chalef@aes.com

Carlyle
Brittany Berliner
212.813.4839
Brittany.berliner@carlyle.com

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’ current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’ filings with the Securities and Exchange Commission (the “SEC”), including, but not limited to, the risks discussed under Item 1A: “Risk Factors” and Item 7: “Management’s Discussion & Analysis” in AES’ 2020 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’ filings to learn more about the risk factors associated with AES’ business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company’s 2020 Annual Report on Form 10-K filed February 24, 2021 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com

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Nebula Brands Receives Series B Investment Led by L Catterton Asia

LCatterton

Funding of over $50 million puts the company in prime position to aggregate Chinese Amazon vendors

Beijing, December 7, 2021 – Nebula Brands, China’s leading aggregator of third party Amazon vendors, today announced that it has successfully completed a Series B fundraising round with investments led by the Asia fund of L Catterton, the largest global consumer-focused private equity firm. The investors which participated in the round have agreed to collectively provide Nebula Brands with over $50 million, subject to continued strong performance.

The investment will enable Nebula Brands to capitalize on the robust growth of Chinese third party Amazon vendors, who are increasingly driving the expansion of the marketplace. Between 2018 and 2021, the number of active Chinese third-party Amazon vendors and the gross merchandise value (“GMV”) of transactions they generated grew faster than the wider market. China now accounts for over one-third of the total Amazon market, with approximately 600,000 third-party vendors collectively generating transactions with a GMV of $135 billion. Chinese vendors’ share of the market is expected to rise further and account for 45% of third-party sales on Amazon in 2025.

Nebula Brands is uniquely poised to tap into this growth, having assembled a strong team of more than 50 professionals in China with deep knowledge of the market and extensive on-the-ground sourcing, underwriting, and operating experience. This team brings experience from renowned e commerce, technology, and financial firms and has developed a data analytics-enabled due diligence framework that streamlines its acquisition process. Since the company’s founding in May 2021, it has built a solid acquisition pipeline, focusing on the highest-ranked vendors across 10 key categories, including household goods, personal care, fitness, beauty, and pet supplies.

Nebula Brands Co-Founder William Wang commented, “The Chinese third-party vendor marketplace is experiencing rapid growth, with the ability to quickly scale and provide high quality products efficiently to Amazon customers across the globe. Hundreds of vendors are ready to evolve into top international brands, and we can help them reach new heights. The model of aggregating Fulfillment by Amazon vendors and strengthening their operations has already proven to be extremely effective in some markets in the west and is set to take-off in China, where Nebula Brands is leading the charge. We are excited about partnering with L Catterton, which brings deep consumer and operational expertise and a fantastic track record of value creation for portfolio companies.”

L Catterton Asia Managing Partner Scott Chen added, “Supported by visionary founders and an incredibly talented team, Nebula Brands has developed an efficient acquisition process and promising pipeline within a remarkably short period of time. There are significant opportunities for the company to leverage our operating capabilities, functional expertise, and global presence as we have extensive experience in its key categories. We look forward to partnering with the team to further drive Nebula Brands’ growth and market leadership.”

L Catterton has significant experience investing in many fast-growing, disruptive digitally-enabled brands globally. Current and past investments in the space include Vroom, Peloton, ClassPass, Freetrade, Eco, Public Goods, Butternut Box, Sociolla, and Zenyum.

About Nebula Brands

Nebula Brands is a tech-driven company with a unique combination of merger and acquisition, online retail, e commerce, branding, and local supply chain knowledge that can take Amazon brands to the next level of growth. As the leading Amazon brand acquisition group in China, Nebula Brands has been expanding the global presence of domestic products through an “Acquisition Capital + Brand Operation” model. The company strives to help more Chinese consumer brands shine on the Amazon platform.

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.

CONTACTS

Nebula Brands

William Wang
Co-Founder
william.w@nebula.site
+86 186 6933 8926

L Catterton

Julie Hamilton (U.S.)
Managing Director, Firm Communications
media@lcatterton.com
+1 203 742 5185

Bob Ong / Bonnie Gan (Asia)
bob.ong@lcatterton.com / bonnie.gan@lcatterton.com
+65 6672 7619 / +86 10 8555 1807

Categories: News

Advent International announces launch of Orveon, closing of agreement with Shiseido Americas

Advent International

Orveon unites iconic cosmetics brands bareMinerals, BUXOM and Laura Mercier to pave the future of the industry and change beauty for the better

BOSTON, December 7, 2021 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced the closing of a definitive agreement with Shiseido Americas Corporation (“Shiseido Americas”), a subsidiary of Shiseido Company, Limited (“Shiseido”), under which a newly formed affiliate of Advent, Orveon, has acquired three of Shiseido Americas’ iconic cosmetics brands, bareMinerals, BUXOM and Laura Mercier. The acquisition was announced on August 25, 2021 (press release available here), and closed on December 6, 2021.

The official closing marks the start of a new path forward for the acquired businesses and their employees to join the ecosystem of the newly created Orveon company, forming a standalone collective of premium and prestige beauty brands. Accelerating the growth of these brands will be paramount, homing in on their quality, innovation and authenticity. Upon closing, employees of bareMinerals, BUXOM and Laura Mercier, as well as about 350 employees in corporate support functions, moved from Shiseido to the newly formed parent company, Orveon.

Pascal Houdayer will serve as Chief Executive Officer of Orveon, or “Social Architect,” as he describes himself, bringing more than 30 years of Beauty / Cosmetics industry and management experience. Under Pascal Houdayer, Orveon’s mission will be to go more than skin deep and focus on helping people move from “looking beautiful” to “feeling great.” Recognizing the diverse range of consumers being served in the beauty and wellness market, Orveon is on a quest for a more inclusive, sustainable and united community in which deliberate action fosters fair and positive change.

“With Orveon, we are embarking on a journey to bring the world a new type of beauty company defined by solidarity, stark honesty and benevolent activism,” said Pascal Houdayer. “We intend to unite these powerhouse brands and move to an era of innovative evolution, that will break down category barriers and societal conventions to form a sustainable face care expert. I feel honored to be a part of a team creating a space in which the industry and consumers can be advocates for change for the better.”

Orveon is creating the future of the face. Visionary founders and owners of these brands have built a solid foundation of beautiful products and strong customer support. Orveon aims to bring additional innovation that both embraces these brands’ unique DNA while continuing to push towards skin health and overall wellness, enabling beauty built on a foundation of health. Further, Orveon will champion the values of bareMinerals, BUXOM and Laura Mercier and put the consumer at the center, while making measurable cultural strides toward a reimagined world of beauty and creating a genuine bond with the consumer they serve both online and offline. As a result, Orveon will work to establish a meaningful place for employees, while also fostering relationships with partners that contribute to the success of the company. Plans for development of new and innovative products, category and market expansion, and potentially acquisitions of additional brands aligned with its mission, will further demonstrate Orveon’s commitment to customers everywhere.

As a global private equity firm that believes in the power of consumer brands and equips them for innovation and growth, Advent recognized the potential in creating Orveon to lead bareMinerals, BUXOM and Laura Mercier on a path to continued success. This purchase follows Advent’s acquisition of prestige hair-care brand Olaplex in January 2020. Olaplex went public on Nasdaq in September 2021 after enhancing its direct-to-consumer capabilities, expanding internationally and building a long-term, science-based product innovation pipeline. Advent was also the majority owner of Douglas, Europe’s leading beauty retailer, from 2013 to 2015. During that time, Advent helped the company enhance its profile, expand its international presence, and transform from a diversified retail conglomerate to a specialist retailer of selective beauty products.

“We are thrilled to bring together three leaders in prestige beauty to build Orveon and are thankful toward Shiseido for being a supportive partner throughout this transaction,” said Tricia Glynn, a Managing Director at Advent. “With Pascal as CEO, we believe this collective will accelerate the growth of its individual brands, showcasing its expertise to cater to a complete face care routine across a diverse set of consumers for a modern world.”

Orveon will be headquartered in New York City, with regional headquarters in London and Tokyo. For more information, please visit www.orveonglobal.com.

Jefferies LLC served as financial advisor, and Weil, Gotshal & Manges LLP acted as legal counsel to Advent. Perella Weinberg Partners served as financial advisor, and Morgan, Lewis & Bockius LLP acted as legal counsel to Shiseido Americas.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 companies in 42 countries, and as of June 30, 2021, had $81 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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

About Orveon

Established in 2021, Orveon is a collective of iconic cosmetics brands, bareMinerals, BUXOM and Laura Mercier, paving the way for the future of the beauty industry. Believing beauty is more than skin deep, Orveon aims to challenge conventional wisdom with humility and deliberate action – all to create positive change. Owning the face of beauty, and striving to face forward together, Orveon is about its employees, as much as the union of these established entities. Together, the company will push beyond being known simply as cultural tastemakers and ascend as advocates of advancement. Embarking on a powerful shift, Orveon is committed to stark honesty, co-creation and making a sustainable cultural impact today and for years to come.

For more information, visit:
Website: www.orveonglobal.com
LinkedIn: wwww.linkedin.com/company/orveonglobal/
Instagram: www.instagram.com/orveonglobal/
Twitter: twitter.com/orveonglobal

Media contacts

Stephanie Barber
5W PR
Orveon@5Wpr.com
+1 646-843-1830

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EQT Exeter to sell modern education property in central Stockholm to Alecta Fastigheter

eqt
  • EQT Exeter to sell modern education property in central Stockholm to Alecta Fastigheter, the real estate company of the Swedish pension fund manager Alecta
  • EQT Exeter has transformed the asset from an obsolete 50 percent vacant Grade C mixed-use building into a sustainable Grade A educational-use property that will host four upper secondary schools for 2,200 students in an attractive and densely populated neighborhood
  • The property will meet the standards for BREEAM In-Use “Very Good” with a high emphasis on sustainable and environmentally friendly building techniques such as recycling of construction materials, energy efficiency improvements and upgrades to the building fabric to improve thermal performance

EQT Exeter is pleased to announce that EQT Real Estate Fund I (“EQT Exeter”) has agreed to sell Hönsfodret 1 (the “Property” or “Southside”) to Alecta Fastigheter, the real estate company fully owned by Alecta, one of Sweden’s largest pension fund managers.

EQT Exeter acquired the Property in June 2018 after having recognized the need for modern educational-use assets as particularly high in central Stockholm due to the city’s demographic development and rapidly increasing population. The Property, located on the island of Södermalm in Stockholm, was a half vacant, mixed-use building comprising a school and office space at the time of the acquisition.

In collaboration with AcadeMedia, a leading education provider in Northern Europe, EQT Exeter developed a clear strategy to refurbish the Property into a prime education building with an increased lettable area. EQT Exeter and AcadeMedia signed a 16-year lease to realize the vision for “Campus Södermalm” that will host four Upper Secondary Schools for approximately 2,200 students.

Under its tenure, EQT Exeter obtained a building permit to expand the Property from approximately 9,500 sqm NLA (Net Lettable Area) to more than 14,000 sqm by exercising the unutilized building rights. EQT Exeter has also undertaken actions to meet the industry standard BREEAM In-Use “Very Good” in the final detailed design. Throughout the development process, EQT Exeter has prioritized environmentally friendly building techniques and incorporated multiple key sustainability features as part of the process of securing key constituent consent. These efforts include recycling of construction materials, efficiency improvements via real-time energy usage monitoring and upgrades to the building fabric to improve its thermal performance.

Campus Södermalm will promote a healthy lifestyle with prominence of the stairwells over elevators, a gym and conversion of former car parking to a generous amount of bicycle parking spaces to encourage students to choose active means of transportation to and from school. Moreover, the adjacent local community will be able to enjoy a publicly accessible, student-operated café, bakery and restaurant on the ground floor of the Property. EQT Exeter and its building contractor Zengun are currently in the final stages of completing the development which is expected to take place during Q2 2022, ahead of the academic year 2022/23.

Henrik Orrbeck, Partner within EQT Exeter’s Advisory Team, said, “We are proud to hand over the Property to Alecta after a successful transformation project where we have turned a half-vacant building with poor energy performance into a flagship “green” campus that meets modern demands for attractive and inspiring education premises. This transaction perfectly exemplifies the investment philosophy of EQT’s real estate platform, EQT Exeter, using our value-creation toolbox to deliver a core building into the highly sought-after institutional real estate market of Sweden. We would like to thank our contractor Zengun and project manager Tjuren Projektpartner for a well-managed construction process and, of course, our tenant AcadeMedia for trusting us to develop their new flagship campus.”

Jenny Lindholm, CIO, Alecta Fastigheter, said, “We are very pleased with this acquisition, it’s completely in line with our ambition to drive sustainable and long-term development in attractive growth areas. This state-of-the-art educational property that will meet the standards for BREEAM In-Use “Very Good” certification further strengthens our position within the community service segment. We look forward to working closely with the tenant, Academedia, and together develop the environment for the four schools that will move in next year.”

The transaction is expected to close in Q3 2022. EQT Exeter was advised by AG Advokat (Legal), Savills (Commercial), and Tjuren Projektpartner (Technical).

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

About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 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 EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. EQT Exeter is among the largest real estate investment managers in the world and is focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of EQT Real Estate and Exeter Property Group. 

The EQT Exeter Team comprises 330 experienced professionals operating in close to 40 regional offices around the globe. Collectively, they have consummated over 830 real estate investments. As part of EQT, the team has access to the full EQT Network including more than 600 industry advisors across the globe as well as the EQT’s industry-leading sustainability credentials and framework, and in-house digitalization skills.

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Audax Private Equity Announces Strategic Investment In Veterinary Practice Partners

Audax Group

Audax Private Equity (“Audax”) announced today a strategic growth investment in Veterinary Practice Partners (“VPP”), a leading veterinary practice management group and portfolio company of Pamlico Capital. This investment will support VPP in its mission to transform the pet health industry by providing the best service and highest quality care to companion animals and their families, while significantly growing its strategic partnerships with veterinarians.

VPP’s goal is to partner with animal hospitals to help them focus on providing excellent care to patients and service to its clients. VPP partners with veterinarians across more than 85 practices in over 20 states, caring for over 200,000 patients. The unique co-ownership model with veterinarians enables them to focus on providing high quality care to patients and fostering a strong culture at their individual hospital, while VPP provides operational support across learning and development, HR and recruiting, marketing, technology, and finance.

John McDonough, CEO of VPP, said, “We are thrilled to be partnering with Audax and look forward to benefitting from their deep expertise within the healthcare and consumer industries. This partnership will allow us to meet the growing healthcare needs of our pet families, continue to expand our hospital footprint and services offered, while maintaining our deliberate focus on strong doctor relationships, premium quality pet care, and outstanding client service.”

“We commend VPP’s management team on building an impressive business and fostering a company-wide culture of partnership,” said Adam Abramson, Managing Director at Audax. “The business has tremendous momentum and provides truly unique co-ownership and development opportunities for doctor-partners. We couldn’t be more excited to partner with John and the VPP team in its next phase of growth.”

William Blair and Cain Brothers acted as financial advisors and Alston & Bird LLP served as legal advisor to Pamlico and VPP on the transaction. Ropes & Gray LLP served as legal counsel and Guggenheim Securities, LLC served as an advisor to Audax. Terms of the transaction were not disclosed.

Categories: News

Ardian supports the growth of easiware via a €7m round of financing

Ardian

Ardian, one of the world’s leading private equity firms, today announces the acquisition of a stake in easiware, a French omnichannel saas customer relationship management software platform. Matthieu Bouteiller, Chairman, and Brendan Natral, CEO and co-founder, will be able to draw on Ardian Growth’s expertise and networks to accelerate the development of the company’s offering and drive its international expansion.

easiware has around 50 employees and supports over 500 brands (large accounts and multi sector SMEs) in the management, optimization and personalization of their customer relations, from pre to post-sales. Available in several languages, the easiware solution has already been deployed in more than 20 countries, mainly through its customers’ foreign subsidiaries. The company has a unique 360° approach to customer relations, which differentiates it from its competitors. This enables easiware to process all incoming requests, regardless of the channel, through a single interface.

Self-funded until now, the company has experienced strong and regular growth since its inception, driven by several factors – the ease of adoption and reliability of its solutions, its technological yet human approach to customer relationship management, the emergence of new digital channels, and the growing need for omni channels that enable brands to strengthen their link with customers.

Ardian’s investment marks an important step in easiware’s development. The company intends to continue innovating, so it can optimize its solutions, develop new complementary new complementary customer relationship tools and bring even greater value to its customers. With the support of Ardian Growth, easiware will continue this expansion, particularly across Europe.

“We are delighted to welcome Ardian as an investor and new partner. This first round of financing is a strategic step for easiware and our customers who put their trust in us on a daily basis. In realizing our ambitions it was important that we chose to collaborate with an investor that shares our vision and values.. With Ardian, a world-class investor, we are beginning a new phase of innovative yet sustainable growth, both in France and, very soon, in wider Europe. MATTHIEU BOUTEILLER, CHAIRMAN OF EASIWARE

“We’re excited to begin this partnership with Ardian. After thirteen years of self-financing, we are proud of what we have achieved so far, and are now entering a new chapter that will allow us to accelerate our development, better satisfy our customers and recruit the right talent to support this growth. With the backing of Ardian, we now have the means to fully realize our ambitions, as their team shares our technological yet human approach to customer relationship.” BRANDAN NATRAL, CEO OF EASIWARE

“Founders Matthieu and Brendan have demonstrated a strong ability to sustain such profitable growth. Their solution is fully integrated and robust, and increasingly popular in the market. This transaction is a perfect example of how we can support talented software entrepreneurs. FLORIAN DUPONT, SENIOR INVESTMENT MANAGER AT ARDIAN GROWTH

PARTIES TO THE TRANSACTION

  • Ardian

    • Florian Dupont, Solene Hamouda
    • Financial advisors : Cairn Partners (Julien Sanier/ Hanna Goux-Pelletan)
    • Legal, social and tax advisors: Orsan (David Sebban/ Laure Le Gall)
    • Tax advisors : Mamou & Boccara (Laurent Mamou)
    • Technical Audit : Frederic Thomas (CTO as a service)

  • Easiware

    • Matthieu Bouteiller, Brendan Natral
    • Financial advisors: Acetis Finance (Matthieu Mora/ Olivia Harel)
    • Legal and tax advisors : Jones Day (Charles Gavoty/ Alexandre Wibaux)

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$120bn 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 800 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 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT EASIWARE

easiware is a French SaaS editor that enables brands’ customer service teams to communicate with their customers on a daily basis thanks to an “all-in-one” platform for managing and personalizing customer relations. The easiware platform allows them to centralize customer requests and data, regardless of the channel, in a single tool to provide customer knowledge that meets consumer requirements and allows customer service to respond quickly, efficiently and contextually. More than 500 love brands and public players (including Galeries Lafayette, Meetic and the Gendarmerie Nationale) in over 20 countries trust easiware.
easiware is a recognized leader in its ecosystem, thanks to its human and technological approach to customer relations.

www.easiware.com

Media Contacts

ARDIAN – Headland

VIKTOR TSVETANOV

Tel.: +44 7818 594991

EASIWARE – Com’I/O

Anthony Courtat

anthony@comio.fr Tel.: +33 6 09 98 41 11

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EURAZEO has signed an exclusivity agreement with SAFRAN with a view to selling its stake in the OROLIA GROUP

Eurazeo

Paris, December 6, 2021

Eurazeo’s Small-Mid Buyout team1 has signed an exclusivity agreement with Safran regarding the
sale of its majority stake in the Orolia group, a world leader in R-PNT (Resilient Positioning,
Navigation and Timing) solutions and applications. The disposal would remain subject to approvals
from various relevant regulatory authorities.
Since its investment in Orolia in 2016 and the subsequent delisting, Eurazeo has supported the
company by bringing the additional human and financial resources required for its structuration
around founder Jean-Yves Courtois and for its development, especially in the US, where Orolia
generates now more than half of its revenue.

Through an active M&A strategy – five acquisitions have been achieved since 2016, i.e. Netwave
(Netherlands) and a minority investment in Satelles (US) in 2017, Talen-X (US, 2019), Skydel
(Canada, 2019) and Seven Solutions (Spain, 2021) as well as targeted assets disposals – Orolia has
transformed to focus on its most promising markets, evolving from a diversified holding company
into a fully integrated pure player. As a result, Orolia has doubled its organic growth rate and profit
margins. It has also continuously invested in research and development, allocating more than 10%
of its revenue each year, giving the company a unique technological edge in its markets.
Driven by the long-term strategic vision of its founder and chairman Jean-Yves Courtois, its focus
on innovation and its client centric approach, the group has been able to become a global
technologic leader in a fast-growing market.
Eurazeo’s disposal is set to produce a cash-on-cash multiple of 3.6x and an IRR (internal rate
of return) of around 25%.

Erwann Le Ligné, Managing Director, Small-Mid Buyout and member of Eurazeo Mid Cap’s
Executive Board, said:
“Orolia is a perfect illustration of the Small-Mid Buyout team’s
investment strategy: supporting the development of companies that
are leaders in their markets and driven by the vision and commitment
of their management teams. We are proud to have transformed Orolia,
alongside Jean-Yves Courtois and his teams, into an integrated pure
player in France and internationally.”
1 Part of the Eurazeo Mid Cap asset management company.

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

Categories: News