Category Archives: News

BC Partners to acquire leading European braintainment company Keesing from Ergon Capital and Mediahuis

Ergon Capital

13 November, 2020 – London, UK – BC Partners, a leading international investment firm,
has announced today that it has signed an agreement to acquire the leading European
braintainment business, Keesing Media Group (“Keesing”) from Ergon Capital and
Mediahuis.

Founded in the Netherlands over 100 years ago, Keesing has a presence in over 40
countries and is already the largest puzzle content developer in Europe. It owns a number of
market-leading brands and is also in the process of releasing new digital offerings which will
allow it to leverage its existing content to new audiences.
BC Partners is confident that Keesing is well positioned to benefit from the increased focus
on brain training and mental wellbeing. This investment will support ambitious growth plans
for the Company, which includes digital expansion as well as organic growth initiatives in its
existing countries (such as France, the Netherlands, Germany and the UK), as well as
ongoing consolidation of the European market and entry into new continents.
Terms of the transaction were not disclosed, and it is subject to customary regulatory
approvals.

Nikos Stathopoulos, Partner at BC Partners said, “Keesing has many of the characteristics
that we typically look for in our investments. It is the clear market leader in a sector with
proven resilience, with a strong management team and multiple opportunities for growth. We
are therefore looking forward to partnering with the Keesing team to utilise the business’
unique content and proprietary technology to extend its leadership in brain health.”
Pieter Lambrecht, Partner at Ergon Capital added: “It has been a privilege for us and our
partner Mediahuis to support Philip Alberdingk Thijm and the outstanding Keesing team over
the past years in their extraordinary growth story, thereby realizing 9 add-on acquisitions and
strengthening the strategic focus on brain health. We are convinced that Keesing will
succeed in its further global and digital expansion and believe BC Partners is an excellent
partner for the company’s next phase of growth.”

Philip Alberdingk Thijm, CEO of Keesing concluded: “We are very grateful and happy with
the tremendous support we have had from the Ergon team since our buy-out from the
Telegraaf Media Group in 2017. Today a new chapter begins with BC Partners. This next
phase in our transformational journey will allow us to further fuel our ambition to consolidate
our international print markets as well as expand our digital footprint across the world”.

Quore acted as financial advisor to BC Partners. Kirkland & Ellis served as legal counsel to
BC Partners.
ING and DC Advisory acted as financial advisors, and Baker McKenzie as legal counsel, to
the sellers.

Note to editors
About BC Partners
BC Partners is a leading international investment firm with over €27 billion of assets under
management in private equity, private credit and real estate. Established in 1986, BC
Partners has played an active role in developing the European buy-out market for three
decades and for over a decade in North America. Today, BC Partners executives operate
across markets as an integrated team through the firm’s offices in Europe and New York.
Since inception, BC Partners Private Equity has completed 117 private equity investments in
companies with a total enterprise value of over €149 billion and is currently investing its tenth
private equity fund. For more information, please visit www.bcpartners.com.

About Keesing Media Group
Keesing Media Group is the biggest braintainment company in Europe, producing more than
100 million puzzle books a year and offering ample online brain games. Since its foundation
by Amsterdam journalist Isaac Keesing in 1911, the company has grown into the market
leader in print, online and app puzzle formats. The company offers brain game fans all over
the world challenging and innovative concepts for the best puzzle experiences. The
company is headquartered in Amsterdam and has offices in 15 countries. Visit
www.keesing.com.

About Ergon Capital (“Ergon”)
Ergon is a mid-market investment company with over €1.0 billion of assets under
management from select European institutional investors and families. Ergon is a disciplined
and discreet value investor, which provides “patient and friendly capital” to entrepreneurs
and managers, who need capital, industrial or technological solutions to accelerate the
development of their companies. Ergon makes equity investments in leading companies with
a sustainable competitive position in attractive niche markets located in the Benelux, France,
Germany, Italy and Iberia. Ergon is advised by Ergon Capital Advisors which has offices in
Brussels, Paris, Munich, Milan, and Madrid.

Since its inception in 2005, over successive investment programs, Ergon has raised
approximately €2 billion, invested in 27 companies (of which 9 in the Benelux, 4 in France, 3
in Germany, 8 in Italy and 3 in Spain) and completed approximately 60 add-on acquisitions
for a total aggregate transaction value of over €4.5 billion. Ergon’s current portfolio consists
of 14 companies across its target sectors.

For more information on Ergon, please visit www.ergoncapital.com.

About Mediahuis
Mediahuis is one of the leading media groups in the Netherlands, Belgium, Luxembourg and
Ireland. As a publisher, Mediahuis unconditionally believes in independent journalism and
strong and relevant media making a positive contribution for man and society. From this
vision, Mediahuis is continuously investing in its strong brands, both printed and digital. With
about 3,900 employees, Mediahuis has an annual turnover of approximately 1 billion euro.
Since its creation in 2013, Mediahuis has built a highly diversified portfolio of news media
and digital brands. The national and regional news titles of Mediahuis deliver daily news to
more than 10 million readers, both digitally and in print. In addition to these news brands,
Mediahuis also operates a number of important digital marketplaces in Belgium, the
Netherlands, Luxembourg and Ireland, in particular in the domain of real estate, the job and
recruitment market and the automotive market.

Media contacts:
Keesing Media Group
Odette Akersloot
press@keesing.com
+31 6 1927 8365

BC Partners
Pro-bcpartners@prosek.com
+44 (0)777 181 0803
Ergon Capital
John Mansvelt
jm@ergoncapital.com
+32 2 213 60 96

Mediahuis Group
An Steylemans
An.steylemans@mediahuis.be
+32 473 55 71 48

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Viking Venture becomes main shareholder in the Danish software company TimeLog A/S

Viking venture

13. nov 2020

Viking Venture acquires Danish software company TimeLog. The investment will accelerate European expansion in the market for Professional Services Automation (PSA).

TimeLog, founded in 2001, offers PSA solutions which help consulting businesses plan, analyze, invoice and optimize projects. The company has more than 800 customers and 21 000 users in 12 countries. Its ARR (annual recurring revenue) is approximately NOK 43 million.

The overall size of Viking Venture’s investment is NOK 120 million which will provide the necessary capital for further international expansion, especially through acquisitions.

– We have already started our growth journey and by getting Viking Venture onboard we can speed up our strategy towards greater market share. We are well prepared for the journey and it feels good to be backed by an investor like Viking Venture, in addition to being part of their portfolio of software companies who are on the same journey, says Per Henrik Nielsen, CEO of TimeLog (right in picture above).

– Viking Venture is the leading software investor in the Nordics. Their portfolio of 16 software companies gives us a unique opportunity to engage with other companies with similar challenges and ways of operating. We are also happy to have tamigo, another Danish software company close by, which Viking Venture invested in last year, Per Henrik continues.

– The market for PSA is really exciting and we see TimeLog as a market leader. The company provides its customers great value through digitizing their work processes and ways of operating to become more profitable. We are excited to begin this journey with TimeLog, says Eivind Bergsmyr, Partner at Viking Venture and Chairman of TimeLog.

TimeLog will be a great asset for the Viking community of Nordic software companies and we are very excited to start sharing expertise and best practice.

About TimeLog
TimeLog PSA is targeted at consulting and advisory companies who aim high and have the ambition to develop their business and optimise internal workflows all the way from the initial contract to the final invoice. Over the past 20 years, TimeLog has grown from a basement to offices in Denmark, Sweden, and Malaysia. From the goal to create the world’s best time tracking tool to wanting to be the world’s best Professional Services Automation (PSA) software.

Picture: TimeLog management team. From left Søren Lund, founder, Christoffer Lanstorp, CPO, Sascha Skydsgaard, COO og Per Henrik Nilssen , CEO. / Timelog

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Investor AB’s Capital Markets Day 2020

Investor

2020-11-13 08:15 GMT+01

At today’s Capital Markets Day, starting at 12.30 (CET), Investor will:

  • Provide an update on its strategic priorities and engaged ownership model
  • Present the companies within Patricia Industries, where Mölnlycke will confirm continued strong growth in October 2020
  • Confirm that the Board has decided not to propose a second dividend, following the dividend payment of SEK 6.9bn or SEK 9 per share in June 2020.

This year’s Capital Markets Day will be an online event featuring CEO Johan Forssell together with CFO Helena Saxon and other members of the management team. The CEOs of the companies within Patricia Industries will present at the event, which will include a short introduction of Mölnlycke’s new incoming CEO, Zlatko Rihter

“Investor entered the crisis in a strong financial position, and I am impressed by how the management teams in our companies have handled this challenging year. Going forward, we are committed to continue to create value. We have a proven ownership model, market-leading companies with significant exposure to accelerating trends and a strong industrial network to support value creation,” comments Johan Forssell, Investor’s President and CEO.

In June 2020, Investor paid out SEK 6.9bn in dividend to its shareholders, equaling SEK 9 per share. The Board has now reviewed the potential for a second dividend following the dividend decisions in the portfolio companies. Taking these into consideration, as well as the increased spread of covid-19 in many regions, the Board has decided not to propose a second dividend and will thus not call for an Extra General Meeting in 2020.

Investor maintains its dividend policy to distribute a high percentage of dividends received from its holdings within Listed Companies, as well as to pay a yield on other net assets in line with the market. The ambition is to pay a steadily rising dividend.

The full agenda and presentations will be available on Investor’s website, investorab.com, before the Capital Markets Day starts at 12:30 (CET). The event is expected to conclude at approximately 3:30pm (CET). To participate register at investorab.com.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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Winshuttle’s EnterWorks Platform to Automate Product Page Audits through New Partnership with Content Status

Stg Partners

EnterWorks MDM/PIM Clients are First to Gain Seamless Capability to Ensure Complete Accuracy of Product Pages Across Selling Platforms

Bothell, WA – November 12, 2020 – Winshuttle, the provider of the EnterWorks industry-leading Master Data Management (MDM) and Product Information Management (PIM) platform announced it is partnering with Content Status to provide clients with the capability to automate product page auditing. Content Status is a new utility that fully automates product page content auditing for brands and retailers. The new partnership will allow EnterWorks clients to ensure pages are live and accurate across all of their selling platforms.

“We are pleased to be the first MDM/PIM platform to offer Content Status as part of our ongoing mission to be proactive in integrating new capabilities in the EnterWorks platform,” said Kerry Young, Vice President and General Manager of EnterWorks at Winshuttle. “Up until now, we haven’t found an easy, affordable way for our client’s to audit and monitor all their product pages so most companies don’t do it.”

According to Content Status, over 52% of product pages fail minimum quality standards and over 10% have critical errors, driving lower conversions and expensive returns. The Content Status tool fully automates the entire auditing and monitoring process, providing clarity and transparency as to what is wrong, where, and how to fix it.

“We like that they’re 100% focused on page auditing versus trying to do everything. It allowed them to focus on building the best solution to solve the problem. And their self-service, usage-based model is the only one that makes sense for our clients.

The new partnership will allow Winshuttle clients to initiate an audit job of retailers from within the MDM/PIM platform. The Content Status tool then audits the page, grades for quality, flags hard to find errors, highlights used keywords, and defines the Perfect SKU® – all in just minutes. It also features an interactive editing process that ensures the right improvements or users can make the edits right within EnterWorks.

“We are excited to partner with Winshuttle to help them complete the ideal cycle: organized product content, syndication, and now auditing to ensure the right content is live, complete, accurate, and optimized. Unfortunately, pages disappear, are incorrectly categorized, or content gets changed without approval, crushing the bottom line.”

“Business teams now have an easy and affordable tool that gives them critical page insights in minutes and the tools to make the improvements, “ said George Koenig, Content Status co-founder. “If you’re selling online, then you want to start each day with the peace of mind knowing that all your product pages are live and selling.”

For more information about Winshuttle and the EnterWorks platform, please visit winshuttle.com/enterworks.

About Winshuttle
Over 2,400 enterprises across the globe trust Winshuttle’s automation, product information management (PIM), and multi-domain master data management (MDM) software to drive business results at scale, become more agile and transform digital into a competitive advantage.

Winshuttle’s EnterWorks solution is a Multi-Domain MDM & business process automation solution provider that powers leading brands such as Fender, GSK, Thomson Reuters, Mary Kay, IDEA, US Foods, Ecolab, Carhartt, Rich Products, and many more. The EnterWorks platform is highly ranked by industry analysts as a Multi-Domain Master Data Management hub with deep Product Information Management (PIM) and Digital Asset Management (DAM) capabilities. Our flexible platform enables customers to deliver high-quality data and experiences across systems, channels, and audiences. Learn more at winshuttle.com/enterworks.

About Content Status
Content Status is a new utility that fully automates product page content auditing, insights, and monitoring for retailers, brands, distributors, and agencies. Featuring customizable content grading, error-flagging, proprietary rule builder, and the Perfect SKU® algorithm, the subscription service requires no on-boarding, no programming and no IT involvement. For more information, visit contentstatus.com.

Press contact

Mary Lee
425-527-6639

mary.lee@winshuttle.com

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Platinum Equity to Sell PrimeSource to Clearlake Capital Group

Platinum

Press Release · November 13, 2020

Global Distributor of Specialty Building Materials will Serve as Clearlake’s Latest Platform for Organic Growth and Add-on Acquisitions in the Specialty Distribution Sector

LOS ANGELES, CA, SANTA MONICA, CA AND IRVING, TX (November 13, 2020) – Platinum Equity announced today the signing of a definitive agreement to sell PriSo Holding Corporation (“PrimeSource”, or the “Company”) to Clearlake Capital Group, L.P. (together with affiliates, “Clearlake”). Terms of the transaction were not disclosed.

PrimeSource is a leading global distributor of specialty building materials serving residential, commercial, and industrial new-construction and remodeling markets. Founded in 1990, PrimeSource manages a highly diversified global supply chain, distributing over 23,000 SKUs sourced from more than 500 vendors in 16 countries throughout Asia, Europe and North America. The Company plays a crucial role for its customers who rely on its superior brand value, breadth of offering and sourcing and logistics capabilities.

Platinum Equity acquired PrimeSource in 2015 from Itochu Corporation. Following the acquisition, Platinum Equity’s M&A and operations teams drove a comprehensive operational improvement and transformation program.

“We deployed the full range of our M&A&O toolkit, helping the company grow strategically while enhancing its capabilities in supply chain management, logistics, salesforce effectiveness and technology applications,” said Platinum Equity Partner Jacob Kotzubei. “By investing in growth and fundamentally improving the Company’s operational underpinnings, PrimeSource substantially increased earnings and is well positioned to sustain its momentum.”

“PrimeSource has been a fantastic success story,” said Platinum Equity Managing Director Todd Golditch. “Platinum Equity has a demonstrated track record successfully investing in and creating value in the building products space over many years and PrimeSource is no exception.  It has been a pleasure partnering with the PrimeSource management team led by Tom Koos, and we look forward to following the company’s continued success in the years ahead.”

“We deployed the full range of our M&A&O toolkit, helping the company grow strategically while enhancing its capabilities in supply chain management, logistics, salesforce effectiveness and technology applications,” said Platinum Equity Partner Jacob Kotzubei.

PrimeSource CEO Tom Koos said he is proud of the collaboration with Platinum Equity and excited about the opportunity to partner with Clearlake.

“We are grateful to Platinum Equity for the support over the past several years.  They have been instrumental in transforming PrimeSource and their operating model has been key to our success,” said Mr. Koos. “Our leadership group is thrilled for the next step. I have known José  E. Feliciano, Behdad Eghbali, Colin Leonard and the team at Clearlake for over a decade, having not only been a CEO for one of their previous portfolio companies but also in my capacity as a board member and advisor to several Clearlake portfolio companies. They are the optimal partners for PrimeSource at this stage in our Company’s evolution.  We are looking forward to continuing our exciting growth trajectory in the coming years.”

“We are excited to partner with Tom, Bill, and the entire PrimeSource management team,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake. “This new investment is a great example of our focus and expertise in the specialty industrial distribution sector. We look forward to leveraging Clearlake’s O.P.S.® playbook to capitalize on the Company’s market leadership and strong momentum to accelerate growth through both organic initiatives and acquisitions.”

“We have long admired PrimeSource for the breadth of its distribution network and unparalleled sourcing infrastructure. We look forward to investing behind the Company to bolster these capabilities, expand our product offering and increase the value PrimeSource delivers to its customers,” said Colin Leonard, Partner at Clearlake.

Moelis & Company is serving as Platinum Equity’s financial advisor on the sale of PrimeSource and Gibson, Dunn & Crutcher LLP is serving as Platinum Equity’s legal advisor. Deutsche Bank Securities is acting as Clearlake’s financial advisor and Kirkland & Ellis LLP is serving as Clearlake’s legal counsel on the transaction.

About PrimeSource
With 34 distribution centers throughout the US and more than 1,100 employees, PrimeSource is a global distributor of building materials serving residential, commercial, and industrial new-construction and remodeling markets as a value-added link in the distribution chain. Core products distributed under the nationally known Grip-Rite® and Pro-Twist® brands include: nails, screws, and collated fasteners; tools, compressors and accessories; residential and commercial roofing products; diamond blades and accessories, gypsum accessories, weather protection and covers, adhesives and caulks, contractor bags and poly sheeting, building accessories; rebar and concrete accessories; and fencing and wire. For more information, please visit www.primesourcebp.com, www.grip-rite.com, www.pro-twist.com.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $23 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners V, a $10 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 25 years Platinum Equity has completed more than 250 acquisitions.

About Clearlake
Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology and consumer. Clearlake currently has approximately $25 billion of assets under management, and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

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IK Investment Partners to acquire GeoDynamics

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement with Peter Vermeesch, Stijn Stragier and Sofindev to acquire a majority stake in GeoDynamics (“the Company”). GeoDynamics is a leading SaaS provider specialising in location-based software solutions for mobile workforces. Financial terms are not disclosed.

GeoDynamics was founded in 2004 and is headquartered in Kortrijk, Belgium. The Company’s software solutions serve over 2,700 customers across construction, utilities, technical and manufacturing services, in addition to local municipalities. The proprietary cloud-based platform allows customers to manage their vehicle fleets in real-time and account for mobile workers’ time and activity registration.

IK will be acquiring a majority stake from Sofindev and the management team, led by founders and joint Managing Directors, Peter Vermeesch and Stijn Stragier. Following the transaction the business will continue to be led by both founders, who will also be reinvesting alongside IK.

Peter Vermeesch and Stijn Stragier, joint Managing Directors and co-founders of GeoDynamics, said: “We are excited to be partnering with IK as we look to expand beyond our home market of Belgium and bring our innovative solutions to SMEs further afield.  With their strong track record and on the ground presence in our key target market of Belgium, we are confident we have the right team to help facilitate our growth. We are also very grateful to Sofindev for their support over the last four years.”

Sander van Vreumingen, Partner at IK Investment Partners and advisor to the IK SC II Fund, said: “GeoDynamics provides a unique proposition, particularly among SMEs operating in construction, utilities and technical services, who are looking to optimise the efficiency of their workforces and value the ability to integrate this software into their existing systems. We believe there is huge potential for GeoDynamics to replicate its success in Belgium across other adjacent regions and markets and look forward to working with Peter and Stijn to deliver this goal.”

Jan Camerlynck, Partner at Sofindev, said: “We have been proud to support GeoDynamics since 2016 in a partnership with Peter and Stijn. They have done a tremendous job, together with their team, to  develop the company’s position as the number one provider in Belgium with a truly unique SaaS software solution for mobile workforce management. As the business has reached a scale to expand to new markets now is the right time to join with a new partner and we wish them every success with IK.”

For further questions, please contact: 

Maitland/AMO
James McFarlane
T: +44 (0) 20 7379 5151
jmcfarlane@maitland.co.uk 

IK Investment Partners
Nastasja Vojvodic
T: +44 (0) 20 7304 4300
nastasja.vojvodic@ikinvest.com

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €13 billion of capital and invested in over 135 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Divestment of Three Scandinavia’s telecom tower business and assets

Investor

2020-11-12 13:00 GMT+01

Patricia Industries, a part of Investor AB, has agreed to divest its 40 percent share of Three Scandinavia’s tower business and assets by:

  • Transferring its share of Three Scandinavia’s passive network infrastructure assets to CKH Networks, an operator of CK Hutchison’s European tower business with assets in Austria, Denmark, Ireland, Italy, Sweden and the United Kingdom.
  • Participating in the divestment of CKH Networks for EUR 10bn to Cellnex, the leading European independent operator of wireless telecommunications infrastructure. The consideration attributable to Patricia Industries will be 5 percent of the total consideration.

“This is a value creative transaction that will further strengthen our balance sheet,” says Investor AB President and CEO Johan Forssell.

“We believe this transaction creates value by finding a good, focused home for the tower assets, and allowing Three Scandinavia to focus on its core business of providing customers with high-quality mobile services. Three Scandinavia will continue investing in its network and services,” says Christian Cederholm, Co-head of Patricia Industries.

For the 12-month period ending September 30, 2020, Three Scandinavia’s reported EBITDA amounted to SEK 4,042m. Following the transaction, the company will establish service contracts with Cellnex for the utilization of the divested passive infrastructure.

The transaction is expected to close on a country by country basis, subject to regulatory approval, into 2021.

About Three Scandinavia
Three Scandinavia, founded in 2000, is a provider of mobile voice and broadband services in Sweden and Denmark. CK Hutchison owns 60 percent and Investor AB 40 percent of the company.  

About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
viveka.hirdman-ryrberg@investorab.com

Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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Mindful Chef finds new home with Nestle after 5x growth

Piper

We are delighted to announce that Mindful Chef has been bought by Nestlé. In a wonderful two-year journey since we invested £6m in December 2018, sales have increased fivefold to £50m.

It’s astonishing how something so special has been built in such a short period of time – school friends Giles Humphries, Myles Hopper and Robert Grieg-Gran only founded the company in 2015. Since then, it has delivered over 9.5 million meals to households across the UK and become the nation’s highest rated recipe box according to Trustpilot.

As the name suggests, it has come to embody a mindfulness about the suppliers it chooses, the healthy ingredients it uses, and the brand’s impact on the environment. As well as being a certified B-Corp, for every meal sold, a school meal is donated to a child living in poverty through the firm’s ‘One Feeds Two’ initiative, which has seen more than five million meals donated so far.

The brand’s focus on health and nutrition has also seen Mindful Chef appointed the official nutrition partner for the English Institute of Sport while its partnership with the British Heart Foundation aims to raise awareness of how a healthy, balanced diet can help support heart and circulatory health. Testament to this, Sir Andy Murray, Victoria Pendleton CBE and Will Greenwood MBE are among its legions of fans.

As a truly purpose-driven brand, we are proud to have backed a team that embody our own values. We love nothing more than finding great custodians for our partner brands and, in Nestle, they now have a lifelong partner that can help them achieve their mission of getting more people to eat healthily.

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AEGIS Hedging Expands into Metals with Acquisition of Nexidus Commodities

Baird Capital

Transaction marks first strategic acquisition fueled by growth financing from Trilantic North America

The Woodlands, Texas, November 11, 2020 – AEGIS Hedging Solutions (“AEGIS” or the “Company”), a leader in technology and expertise for commodity and rate hedging, announced today that it has acquired Nexidus Commodities (“Nexidus”), a commodity trading advisor and pioneer in metals hedging.

Founded in 2017, Nexidus provides research, strategy, execution, and administrative support to companies in the industrials and manufacturing sectors hedging their exposures to base and precious metals. Nexidus has capitalized on significant, growing demand from financial sponsors seeking visibility into and management of metals exposures across their portfolio companies, as commodity pricing and rate exposures have a significant impact on cash flow and related valuations.

“The acquisition of Nexidus is a significant step in extending our hedging technology and expertise beyond the energy sector,” said Bryan Sansbury, Chairman and CEO of AEGIS. “With increasing global volatility, we are committed to serving companies across industries as they manage their commodity and rate risks.”

“We are excited to bring AEGIS’ scalable technology and approach to hedging metal price risk for new and existing clients,” said Adam Jackson, CEO of Nexidus. “AEGIS has shown a commitment to continually investing in its platform and client experience. We look forward to extending our reach with any company exposed to metals, energy, and rates-pricing.”

 

Trilantic North America Investment

AEGIS’ acquisition of Nexidus was made in partnership with Trilantic North America, a leading private equity firm, which recently invested in the Company to support the execution of its growth strategy and accelerate its expansion across the metals, refined products, interest rates, and FOREX sectors. The Company’s co-founders, Bryan Sansbury, Chris Croom, and Justin McCrann, who serve as CEO, President, and Chief Operating Officer, respectively, continue to lead the business and have retained significant equity stakes in the Company.

“We have known Bryan and the AEGIS team for several years and have watched them build the Company into the leading software-based hedge advisory services business within the North American energy market,” said Chris Manning, Managing Partner at Trilantic North America and Chairman of Trilantic Energy Partners North America. “The acquisition of Nexidus represents an exciting first step in the Company’s next phase of growth as we look to aggressively expand AEGIS’ presence in new end markets.”

“With the Company’s industry leading software platform and focus on value-added hedge advisory services, AEGIS is uniquely positioned to capitalize on an increasingly volatile market environment and expand into adjacent areas of risk management,” added Chris Murphy, Principal at Trilantic North America. “We’re thrilled to partner with the AEGIS team.”

“Trilantic North America has a strong record of partnering with founder-led businesses to build leading-edge companies within the North American energy, services, and consumer sectors,” said Chris Croom, President of AEGIS. “The team quickly understood our growth objectives and their investment will help us leverage our existing technology platform to accelerate AEGIS’ expansion.”

Baird Capital, which first invested in AEGIS in 2019, will retain a material ownership stake.

 

About AEGIS

AEGIS, formerly AEGIS Energy Risk, enables companies to manage their commodity price and interest rate risk through leading software and advisory capabilities. AEGIS provides unique insight into commodity and rate markets, develops and executes cash flow protection strategies, and manages all hedge program activities through a SaaS technology platform. AEGIS was recently named the Hedge Advisor of the Year for an unprecedented fourth consecutive year.

AEGIS is headquartered in The Woodlands, Texas, and has offices in Dallas, Denver, Knoxville, and Pittsburgh. To learn more, visit AEGIS’ website at www.aegis-hedging.com.

 

About Nexidus

Nexidus provides commodity hedging, risk management, and analytical services to industrial clients with exposure to the prices of base and precious metals. Nexidus offers clarity, direction, and strategy to better manage metals pricing volatility that impacts profitability and cash flow.

 

About Trilantic North America 

Trilantic Capital Management L.P. (“Trilantic North America”) is a private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer and energy sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion. Trilantic North America has been recognized by Inc. Magazine’s 2019 list of Top 50 Founder-Friendly Private Equity Firms.

 

For more information, visit www.trilanticnorthamerica.com.

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The Renewables Infrastructure Group Limited – Acquisition of interest in East Anglia One offshore wind farm in the UK

InfraRed Capital Partners

The Renewables Infrastructure Group Limited

(“TRIG” or “the Company”, a London-listed investment company advised by InfraRed Capital Partners (“InfraRed”) as Investment Manager and RES (“Renewable Energy Systems”) as Operations Manager).

The Board of TRIG is pleased to announce that the Company has exchanged contracts to acquire a 14.3% indirect equity interest in East Anglia One, a 714MW newly constructed operational offshore wind farm located off the coast of Suffolk in the North Sea (“the Project”), from Green Investment Group (“GIG”). The investment has been made in a 50% interest in the holding company through which GIG’s initial investment was made (the “Holding Company”). The investment is subject to a consent from The Crown Estate and is expected to complete by Q1 2021. Following completion of the transaction, offshore wind investments are expected to represent approximately 29% of TRIG’s portfolio.

TRIG has partnered with InfraRed European Infrastructure Income Fund 4 (“IREIIF4”) for the transaction, a fund managed by InfraRed, which will acquire a 5.7% indirect equity interest in the project alongside TRIG. This is consistent with TRIG’s strategy of partnering with aligned co-investors on larger transactions. TRIG’s investment will be financed from a combination of its existing cash balance and a drawdown from the Group’s revolving acquisition facility.

The Project was developed by ScottishPower Renewables, a subsidiary of Iberdrola, a global energy leader with 34GW of installed renewables capacity.  The turbines utilise Siemens’ direct drive technology, with Siemens providing maintenance services in relation to the turbines under an initial contract with the Project. The Project benefits from an attractive Contract-for-Difference (“CfD”) subsidy for the next 15 years with inflation indexation. Debt financing at the Holding Company level (the consortium level for GIG, TRIG and IREIIF4) is fixed rate and fully amortising within the subsidy period.

The investment fits well into the Company’s investment strategy, providing subsidised revenues for the next 15 years, lowering overall power price sensitivity of the portfolio and strengthening the Company’s position in the attractive offshore wind market. Offshore wind projects will be crucial to the UK’s ambition to meet net-zero carbon emissions by 2050, and East Anglia One provides enough clean energy to power the equivalent of more than 630,000 homes.

Helen Mahy, CBE, Chairman of TRIG, said:

“We are delighted to be investing in this high quality asset which marks our continued commitment to supporting the global transition to a more sustainable future, and to be joining with such well-established and respected partners in Green Investment Group and ScottishPower Renewables. East Anglia One is TRIG’s fourth investment in the offshore wind sector and its second offshore wind investment in the UK. Offshore wind is essential to the UK meeting its 2050 net-zero targets.”

More Information

The Renewables Infrastructure Group Limited (TRIG)

The Renewables Infrastructure Group (“TRIG” or the “Company”) is a leading London-listed renewable energy infrastructure investment company. The Company seeks to provide shareholders with an attractive long-term, income-based return with a positive correlation to inflation by focusing on strong cash generation across a diversified portfolio of predominantly operating projects. TRIG is targeting an aggregate dividend of 6.76 pence per Ordinary Share for the year to 31 December 2020.

TRIG is invested in a portfolio of over 70 wind, solar and battery storage projects with aggregate net generating capacity of over 1.5GW. TRIG is seeking further suitable investment opportunities which fit its stated Investment Policy.

Further details can be found on TRIG’s website at www.trig-ltd.com.

 

InfraRed Capital Partners Limited (InfraRed)

TRIG’s Investment Manager is InfraRed Capital Partners Limited (“InfraRed”) which has successfully invested in over 200 infrastructure projects since 1997. InfraRed is a leading international investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With over 170 professionals it manages in excess of USD 12 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 85 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed’s website at www.ircp.com.

 

Operations Manager

TRIG’s Operations Manager is RES (“Renewable Energy Systems”), the world’s largest independent renewable energy company.

RES has been at the forefront of wind energy development for over 38 years, with the expertise to develop, engineer, construct, finance and operate projects around the globe. RES has developed or constructed onshore and offshore wind, solar, energy storage and transmission projects totalling more than 17GW in capacity. RES supports over 6.3GW of operational assets worldwide for a large client base. Headquartered in Hertfordshire, UK, RES is active in 10 countries and has over 2,000 employees engaged in renewables globally.

RES is an expert at optimising energy yields, with a strong focus on safety and sustainability. Further details can be found on the website at www.res-group.com.

 

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