Category Archives: News

ARDIAN opens office in SOUTH KOREA

Ardian

New office complements Ardian’s increasing pan-Asian focus as part of continued global expansion • To reinforce its multi-local approach and commitment to investors

Seoul, 3 December 2018 – Ardian, a world-leading private investment house, today announces the opening of an office in Eulji-ro, Seoul, South Korea. The office is Ardian’s fourth in Asia, joining bases in Singapore, Beijing and Tokyo, which opened earlier this year. Ardian’s global network now spans 15 offices across Europe, North and South America and Asia.

Ardian is the largest private investment house in Europe with assets of US$82bn managed or advised in Europe, the Americas and Asia. Ardian’s South Korean presence forms an important part of its international strategy, particularly in the Asia Pacific region. The office will be used as a hub for Ardian to serve its growing base of leading, domestic Korean institutional investors including pension funds as well as increase private equity investment in Korean companies, particularly through its funds of funds and co-investment pillars, real estate and services for investors.

The office will be led by Won Ha, a Director at Ardian. Mr Ha has been with Ardian since 2011, working across the funds of funds and investor relations activities out of the Singapore office.

Dominique Senequier, President of Ardian, said: “The opening of this office is an important part of our global strategy to meet the evolving needs of our investors as well as representing Ardian’s strong commitment to Asia. With this office, we can now be even closer to our growing local investor base while also capitalizing on the best investment opportunities.”

Jan Philipp Schmitz, Member of the Executive Committee of Ardian and Head of Asia, added: “Our investor base in Asia continues to expand, and it is a market which we see as a major growth opportunity for Ardian. We already have a dozen Korean clients accounting for more than $1.4 billion assets under management.”

Ardian now counts pension funds, insurance companies and family offices across its LP base in Asia, which comprises 750 investors in a number of different asset classes, including Secondary, Buyout, Infrastructure, and Private Debt.

Meanwhile, Ardian now has 122 investments across Asia representing $3.5 billion in capital of which various fund and direct investments are also held in South Korea.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$82bn 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 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Ardian on Twitter @Ardian

www.ardian.com

PRESS CONTACTS

ARDIAN
Headland
Tom James/Carl Leijonhufvud
ardian@headlandconsultancy.com
Tel: +44 020 3805 4840
Access Communications and Consulting
Carol HJ Park
cpark@accesspr.co.kr
Tel: +82 2 2036 9912
Buyong Yeon
byyeon@accesspr.co.kr
Tel: +82 2 2036 9956

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Triton completes acquisition of SKF Motion Technologies

Triton

Stockholm (Sweden), Gothenburg (Sweden) 03 December 2018 – After receiving the required approvals, funds advised by Triton (“Triton”) have successfully completed the acquisition of the business unit SKF Motion Technologies (“SMT”) from the SKF Group listed on Nasdaq Stockholm.

SMT is a global provider of electrical linear actuator components- and systems as well as linear motion products, with market leading positions and differentiated offerings in global niche markets, including high end medical and industrial actuators and roller screws. Headquartered in Gothenburg, Sweden, the company operates nine production sites, 13 dedicated sales units and employs approximately 1,200 employees.

With the closing Triton takes over all entities of the former business unit, as well as all staff. From now on SMT will be further developed as a standalone company under Triton’s ownership. A new brand name will be rolled out during 2019 and the company will continue to be known as “SKF Motion Technologies” and retain legal right to use the abbreviation SKF until introduction of the new brand.

“We look forward to actively supporting SMT’s management and employees by investing in and supporting the growth and development of the company. Our industry expertise from other investments in the sector and our strong network of senior industry experts, will contribute to further develop the company.” said Peder Prahl, Director of the General Partner for the Triton funds.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

Press contacts:

Triton
Fredrik Hazén +46 70 948 38 10

SKF
Theo Kjellberg +46 72 577 65 76

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Reiten & Co becomes a major shareholder in Navamedic ASA

Reiten

Ingerø Reiten Investment Company AS (“IRIC”) has today acquired 2.916.667 shares in Navamedic ASA, representing an ownership of 26.84% in the company. IRIC and related parties did not own any shares in Navamedic ASA prior to this transaction, and following the transaction holds 2.916.667 shares in total.

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Blackstone Completes the Acquisition of Clarus, Establishing a New Life Sciences Investment Platform

Blackstone

New York, November 30, 2018 – Blackstone (NYSE:BX) today announced that it has closed on its previously announced acquisition of Clarus, a leading global life sciences investment firm. Going forward, the business will operate as Blackstone Life Sciences, while historical funds will retain the Clarus name.

Blackstone Life Sciences is a new private investment platform with capabilities to invest across the life-cycle of companies and products within the key life sciences sectors. The business will leverage Clarus’ significant domain expertise and record of success, and Blackstone’s investment experience, operating platform and global scale, to help advance breakthrough products to address unmet medical needs.

Blackstone Life Sciences fills a critical void in the industry, which is seeing unprecedented growth, but lacks the necessary funding to bring medicines and healthcare technologies to market.  The business will retain and build on Clarus’ hands-on approach of leveraging its scientific and clinical development expertise in adapting to an ever-changing investment landscape. This includes a focus on funding growth-stage investments, often in partnership with major biopharmaceutical companies through R&D collaborations.

Clarus is led by a team of seasoned experts who have invested in more than 50 companies in the biopharmaceutical, medical device and diagnostic sectors across multiple disease areas.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Contact:
Jennifer Friedman
+1 (212) 583-5122
Jennifer.Friedman@blackstone.com

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H.I.G. Capital Invests in Wellness Hotel in Germany

HIG Capital

LONDON – November 30, 2018 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over €26 billion of equity capital under management, announced today that one of its affiliates has recently completed an investment in BollAnts Spa im Park, a 105-room wellness hotel & resort in Bad Sobernheim, Germany. BollAnts Spa im Park is one of the leading wellness resorts in Germany and has earned many awards including, most recently, the prestigious Tatler award for one of the best spas in the world (2018). Terms were not disclosed.

H.I.G. Realty continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners in London, commented: “The German real estate market represents a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure”.

Sanjoy Chattopadhyay, Managing Director at H.I.G. Europe Realty Partners in London, added: “The transaction demonstrates our ability to leverage our strong network and track record to acquire high-quality assets with significant value-add potential. The fundamentals of the German wellness industry are attractive, and we look forward to pursuing further similar investments”.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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Thoma Bravo Announces Strategic Growth Investment with Acquisition of PEC Safety

Thomas Bravo

SAN FRANCISCO, CA. and MANDEVILLE, LA., November 30, 2018 – Thoma Bravo, a leading private equity investment firm focused on software and technology-enabled services, announced that it has agreed to acquire PEC Safety, a rapidly growing contractor management software and safety learning content provider that helps both hiring clients and contractors manage risk, safety, and compliance. The investment recognizes PEC’s strong momentum and is expected to help the company broaden its software and content offerings. As part of the agreement, the company’s management team and founders will retain a minority stake in the business.

Founded in 1993, PEC Safety is one of the largest contractor management networks in the world, enabling clients to hire and manage safe and qualified contractors through a centralized cloud-based software system. In addition, PEC provides licensed proprietary safety learning content to a network of more than 3,000 authorized instructors who conduct over 235,000 training sessions per year. PEC, with its unique combination of a contractor management software platform and proprietary training content, has distinguished itself as a rapidly growing, market leader within the energy industry. PEC currently serves over 110 operators and 15,000 contractors in its mission to bring workers home safely from high-hazard jobs through prioritizing training and contractor management.

“PEC Safety’s partnership with Thoma Bravo will enable us to deepen our core capabilities and expand into other verticals, advancing PEC’s mission to reduce risks and increase safety for workers in hazardous jobs,” said Colby Lane, CEO of PEC Safety. “PEC Safety will benefit enormously from Thoma Bravo’s expertise at implementing operating best practices and investing in new product functionality and features that will continue to scale the network.”

Contractor risk exposure is increasingly being recognized as a top concern in PEC’s core market, the energy industry, as well as other verticals such as construction, manufacturing, transportation and facilities management. PEC is positioned to capitalize on the compelling industry tailwinds by offering mission-critical software and learning solutions that help companies save time, hire confidently, and most importantly improve safety conditions for their workers.

“Thoma Bravo believes there is tremendous growth potential for the innovative risk, compliance and safety solutions developed by the talented team at PEC, led by Colby Lane,” said Hudson Smith, a Partner at Thoma Bravo. “Operators are increasingly realizing that they cannot simply outsource risk management to their contractors and instead need to put in place robust technology and learning solutions that provide assurance they are working with highly-trained, well-qualified and responsible contractors.”

Thoma Bravo has provided equity and strategic support to experienced management teams of growing companies for nearly thirty-five years. The firm has extensive expertise investing in risk, compliance, safety and supply chain management software companies, including Riskonnect, Sparta Systems, Global Healthcare Exchange and iPipeline, as well as energy-focused software companies such as Quorum Software.

PEC Safety was advised by William Blair & Company and Goodwin Procter LLP. Thoma Bravo was advised by Raymond James & Associates and Kirkland & Ellis LLP.

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happytal raises €23 million to revolutionize hospital inpatient experience

AXA

Paris, November 29, 2018 – happytal, French startup specializing in enhancing inpatient experience, announces it
has closed a €20 million equity fundraising led by AXA Venture Partners (AVP) and backed by existing shareholders
Partech and Compagnie d’Anjou and new shareholder Alliance Entreprendre, together with a €3 million loan from
Bpifrance.

Funds raised will allow happytal to step up its roll-out in hospitals, medical centres and retirement homes in France
and abroad. As Pass French Tech prize-winner last July, happytal will also draw on funds raised to enhance its hightech platform, which is blazing a trail in making online patient procedures user-friendly and easy.
To support its growth, 200 new top-class staff will be hired in 2019, primarily for business development, tech and
operations.

happytal was founded in 2013 by health industry-savvy founders and strives to revolutionize patients’ quality of life
throughout their healthcare journey from pre-admission until they return home. Patients and their loved ones can
carry out pre-admission procedures online, request a private room, instantly give a satisfaction rating and enjoy a
broad concierge services offering to smooth and improve their inpatient stay, including wellbeing, delicacies,
flowers, health products and home help. To provide such services, happytal engages personally selected artisans
and carers from nearby the health establishment, thereby contributing to local economies.
Five years since it was founded, happytal is now present in over 70 healthcare establishments in France and
Belgium, and has so far created over 300 jobs in the regions and at its Paris head office. Over 25,000 patients, their
loved ones and hospital staff have been won over by happytal and use it every month with a 95+ per cent
satisfaction score!

Pierre Lassarat, happytal co-founder and CEO, said: “Our rapid growth testifies that our people-focused and techbased services are very popular with healthcare establishments, which increasingly need user-friendly and nimble
systems. Our vibrant and dynamic people and the trust our users have in us mean we can expand our offering, take
on more staff and continue to invest”.

Romain Revellat, happytal joint founder and chairman, exclaimed: “We are thrilled to welcome new investors – AXA
Venture Partners (AVP) & Alliance Entreprendre – while pursuing our new business venture with our existing
shareholders – Partech and Compagnie d’Anjou. Their trust in us and this additional big equity investment are
testimony to our success while also reflecting our determination to maintain growth and make happytal a partner
of choice for patients and their loved ones”.

About happytal
The startup Happytal seeks to revolutionize hospital inpatient experience end-to-end by helping patients through all procedures right from
pre-admission to returning home, while providing concierge services, which smooth their stay and make it easier for their loved ones to help
them remotely. happytal’s solution also extends to a broad range of hospital services designed to enhance hospitals’ appeal and put patient procedures online – online pre-admission, online private room request, discharge lounges, real-time satisfaction measures etc.
happytal was set up in 2013 by healthcare industry-savvy founders and is now present in over 70 healthcare establishments in France and Belgium and every month attracts 25,000-plus patients, loved ones and hospital staff users. To learn more go to www.happytal.com
happytal is a Silver Alliance member. Silver Alliance, comprising 18 companies engaged in old people care, was formed in 2018 to bring about teamwork among entrepreneurs in ways that will benefit society at large, stimulate the economy and create local jobs. To learn more go to www.silveralliance.fr

About AXA Ventures Partners
AXA Venture Partners (AVP) is a venture capital fund investing in high-growth, technology-enabled companies. AVP manages $450m broken down between $275m direct investments and $175m for its Fund of Funds business. To date, AVP has invested in some forty seed and growth equity deals. AVP teams operate globally backed by offices in San Francisco, New York, London, Paris and Hong Kong.
To learn more go to www.axavp.com. Contact: François Robinet (francois@axavp.com) / Sébastien Loubry (sebastien@axavp.com)

About Partech
Partech is a big private equity investor in grand-breaking businesses from its offices in San Francisco, Paris, Berlin and Dakar. The firm’s people provide funds, operational experience and strategic advice to entrepreneurs at all stages of development including seed, venture and growth investments. The firm’s investment capacity exceeds €1 billion. Equity investments range from €200,000 to €50m and cover a broad range of technologies, goods and corporate and consumer services including IT systems, online brands, services, hardware and deep tech. To date,
Partech-backed companies have completed 20-plus IPOs and the firm has sold over 50 $100m-plus strategic investments. Partech’s current portfolio: https://partechpartners.com/companies/

Press Contact
Agence Ballou PR
Mickaël Barreteau & Isabelle Renard

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GILDE BUY OUT PARTNERS and management acquire Gundlach Automotive Corporation

Gilde Buy Out

Raubach – Funds advised by Gilde Buy Out Partners (“Gilde”) are pleased to announce the acquisition of Gundlach Automotive Corporation (“GAC” or the “Group”) together with management from companies controlled by Pon Holdings B.V. (“Pon”). The terms of the agreement have not been disclosed. GAC is a leading aftermarket distributor of tires, rims, completely fitted wheels and related services to car dealerships and wholesalers in Germany as well as wheel assembly services to blue-chip car OEMs in Europe. The Group was formed under the successful leadership of the senior management team of Reifen Gundlach to form a leading European platform in 2017. GAC now encompasses Reifen Gundlach (a leading brand for premium tire and wheel distribution for over 45 years), PTG Automotive Solutions and Services (just-in-sequence wheel assembly for car OEM production), RG Automotive Solutions (winter wheel assembly services for OEM brands) as well as Euro Tyre (global tire purchasing organization) and Goodwheel (eCommerce tire platform). Operations are based in Germany, Austria, Hungary, Slovak Republic, Sweden and the Netherlands. Commenting on the transaction Gebhard Jansen, CEO of GAC, says: “We thank Pon for the fruitful cooperation under their period of ownership and we are proud of the over 650 employees to be part of our Group and with whom we look forward to jointly enter a new chapter in our success story. With Gilde we found a strong partner to continue and accelerate our growth strategy to become the leading player in the tire and wheel distribution market.” Rogier Engelsma, Partner at Gilde, added: “GAC represents a very attractive opportunity for us to invest in a leading player in the European tire and wheel distribution market. We are impressed with the Group’s track record of consistent growth and its unique set up to serve multiple levels within the supply chain. GAC is in an excellent position to further build on this solid foundation and to become the number 1 integrated player in the European tire and wheel distribution business. We are excited to support GAC during this next phase of development.” Read more at: http://gilde.com/news/2018/gilde-buy-out-partners-and-management-acquire-gundlach-automotive-corporation

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Gaw Capital Partners and Consortium Partners Acquire Ocean Towers in Shanghai

Gaw Capital

 

November 29, 2018, Shanghai – Real estate private equity firm Gaw Capital Partners announced that the firm, through a fund under its management together with consortium partners including QuadReal Property Group, have acquired Ocean Towers, a 25-storey Grade A office building strategically located in People’s Square, Shanghai, the heart of the city and its political and cultural center.

With 50,219 sqm (540,552 sq. ft.) of above-ground titled GFA and 185 car parking spaces, Ocean Towers enjoys strong exposure to customer traffic and excellent accessibility. Located at 550 East Yan’An Road, Ocean Towers is in the heart of Huangpu District. It is next to Nanjing East Road, Shanghai’s most popular pedestrian street and traditional commercial center, where tenants can enjoy easy access to the existing comprehensive transportation system and road infrastructure. Its prime position also offers excellent access to Shanghai’s busiest commercial and entertainment districts. It is within a five-minute drive to Nanjing West Road CBD, Xintiandi, Lujiazui and the Bund as well as being in close proximity to well-established commercial amenities such as Raffles City, Shimao Bailian, JW Marriot Tomorrow Square, Westin and Nanjing East Road Pedestrian Street.

The property is well-served by public transport as both People’s Square Station (Metro Lines 1, 2 and 8) and Dashijie Station (Metro Line 8 and the future Metro Line 14 to be completed by 2020) can be reached by foot in five to eight minutes. The property also enjoys spectacular, unobstructed views of the Bund and Little Lujiazui from its top floors which allows the possibility of better rental returns.

By leveraging its prime location and its views of the Huangpu River, Lujiazui and other major CBDs in Puxi, Gaw Capital believes there is great potential for Ocean Towers to further enhance its occupancy rate and advertisement income.

Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners said: “Gaw Capital and our partners are confident about Shanghai’s property market, which has continued on an upward trajectory despite the uncertain external economic environment. Shanghai’s economic development has surpassed all other cities in China with 6.9% growth in GDP. Shanghai remains China’s top gateway city for both multinational corporations and domestic companies, with Shanghai’s CBD Grade A offices continuing to demonstrate a strong leasing momentum. Ocean Towers is ideal for tenants looking for high quality Grade A office space in the Huangpu District in Shanghai.”

He added, “We hope to leverage our experience in redesign and re-positioning to enhance asset value and attract new tenants. In addition, we will reposition and upgrade the tenant mix to add significant, strategic value to the Grade A building.”

Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park; Pacific Century Place in Beijing, a 170,000 sqm (1.8 million sq.ft) renovated mixed-use commercial property with two office towers and two serviced apartment blocks on a retail podium; Cross Tower in Shanghai, a 22-storey office with a two-storey retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 28,000 sqm (302,000 sq.ft.) retail mall; Plaza 353 in Shanghai, a 40,000 sqm (430,000 sq.ft.) renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 92,400 sqm (994,000 sf.ft.) retail mall connected to the Guangzhou East Rail Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 88,800 sqm (956,000 sq.ft.) mall above on two subway lines.
About Gaw Capital Partners 

Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.

Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally.

Gaw Capital has raised equity of USD$ 9.8 billion since 2005 and commands assets of USD$ 18.3 billion under management as of Q2 2018.

About QuadReal Property Group (www.quadreal.com)
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s CAD $24.5 billion portfolio spans 23 global cities across 17 countries. Owned by bcIMC, one of Canada’s largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves.

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La Caisse invests CA$200 million in Québec technology company Plusgrade

TA associates

MONTRÉAL, Nov. 28, 2018 /PRNewswire/ – Caisse de dépôt et placement du Québec announced that it is taking an equity interest totalling $200 million in Plusgrade, a leading provider of revenue solutions to the global travel industry. The transaction values Plusgrade at over CA$600 million.

With this backing, the company will continue to execute its expansion plan, which includes penetrating new international markets and expanding its suite of products. Since its founding in Montréal in 2009, Plusgrade has become one of the fastest growing technology companies, and was ranked in Deloitte’s Canadian Technology Fast 50 list in 2016 and 2017. Recently, it also received the Deloitte Technology Fast 50 Leadership award, which recognizes the innovation and leadership of companies at the forefront of the Canadian technology sector.

Led by a solid management team, Plusgrade is rapidly expanding its team across its Montréal headquarters and its New York and Singapore offices.

Over 70 travel companies worldwide, including Air Canada, Lufthansa and Singapore Airlines, trust Plusgrade to deliver key revenue streams via software solutions for optimizing their seat inventory. Its signature product provides travellers with an opportunity to bid on upgrades to a superior class of service.

“Plusgrade has a unique and innovative business model that is revolutionizing practices in its industry. Meeting an airline industry need, their products have been quickly marketed around the world in the last few years,” stated Mathieu Gauvin, Senior Vice-President, Québec, at la Caisse. “This investment is aligned with our strategy of supporting the growth of Québec companies that prioritize innovation to drive their international development.”

In the context of this transaction, la Caisse acquired a portion of the shares held by TA Associates, a leading global growth private equity firm that will continue to be a major shareholder, alongside the management team and other investors.

“We are very excited to welcome la Caisse as our new institutional investment partner as we accelerate our growth into new markets and verticals,” said Ken Harris, Founder and CEO, Plusgrade. “The confidence that la Caisse and TA Associates have shown in Plusgrade is a testament to the value that our talented team is delivering across our global footprint of travel suppliers. We look forward to la Caisse joining our Board and providing valuable guidance as we pursue our strategic growth initiatives.”

Morgan Stanley Canada Limited served as financial advisor and Davies Ward Phillips & Vineberg LLP served as legal counsel to Plusgrade. Osler, Hoskin & Harcourt LLP served as legal counsel to la Caisse.

ABOUT PLUSGRADE
Plusgrade is an award-winning technology company at the forefront of ancillary revenue and merchandising in the global travel industry. As the market-leading provider in its category of upsell solutions, Plusgrade is generating billions of dollars of new revenue opportunity and powering leading travel suppliers in more than 50 countries. Plusgrade is headquartered in Montréal with offices in New York and Singapore. For more information, please visit www.plusgrade.com.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (la Caisse) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2018, it held CA$308.3 billion in net assets. As one of Canada’s leading institutional fund managers, la Caisse invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT TA ASSOCIATES
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

SOURCE Caisse de dépôt et placement du Québec

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