Category Archives: News

Gimv enters partnership with Klotter Elektrotechnik and lays foundation for further growth

GIMV
Topic: Investment

  • Gimv enters a partnership with Klotter, a leading and fast-growing electrical engineering company
  • Werner Klotter, founder and co-owner, joins the advisory board; internal appointees Eric Albrecht and Fabian Klotter form new management team

Gimv has invested in Klotter, setting the first cornerstone for further growth in this fragmented market. Klotter Elektrotechnik (Rheinau, DE – www.klotter.de) offers end-to-end electrical engineering solutions, including service and maintenance, in the fields of transformer stations, industrial automation, distribution boards and building technology. The company, founded in 1997 by Werner Klotter and Roswitha Wiegert-Klotter, employs around 60 people and enjoys an excellent reputation in both its sector and home region.

With its focus on planning and implementation of electrical installations, Klotter sets high quality standards and is already at the forefront of digitalisation in its sector. Its customers include industrial companies as well as hospitals and data centres. The electrical engineering sector is expected to grow strongly in the future, driven by technological advances as well as increasing electrification and digitalisation.

As part of the partnership with Gimv, Klotter is planning for significant growth with both existing and new customers and for a corresponding increase in staff. Further growth is also planned through acquisitions in the fragmented electrical engineering market and in adjacent segments where Klotter will be able share its expertise in the areas of digitalisation, quality assurance and process efficiency. Werner Klotter will support the group as an advisory board member, while Eric Albrecht and Fabian Klotter advance from within the company’s ranks to form the new management team of Klotter.

“With Gimv, we have found a strong partner with longstanding experience in developing and expanding mid-sized businesses. I am convinced that Klotter Elektrotechnik will continue to grow and, at the same time, keep its entrepreneurial and agile company spirit. In addition, we can now acquire companies in our region and further afield. Our employees can look optimistically into the future”, explains Werner Klotter, founder of Klotter Elektrotechnik and co-owner.

Maja Markovic, Partner at Gimv and responsible for Gimv’s Sustainable Cities platform in the DACH region, adds: “In the coming years, the electrical installation sector will see strong growth, especially due to upgrading of outdated buildings and infrastructure, electrification and digitalization of production and buildings as well as increasing electromobility. We are pleased to have set a first cornerstone in this field with such an exciting and dynamic company as Klotter.”

The investment is part of Gimv’s Sustainable Cities platform, which focuses on both B2B services and sustainability across a range of sectors. The transaction has been closed and represents Gimv’s sixth transaction in 2021 as well as the sixth buy & build investment in the DACH region. Further financial details will not be disclosed.

Read the full press release:

English – French – Dutch – German
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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Latour invests in software company to accelerate digital service offering

Latour logo
2021-07-05 08:30

Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, signed an agreement to acquire the majority in the Finnish digital software company 720° (Seven Twenty degrees). 720° was founded in 2012 and has 8 employees with the head office in Helsinki. The company provides analytical software to monitor, visualise and predict the indoor climate in buildings. This investment will accelerate Swegon’s offering in digital services and strengthens Swegon’s position as one of the leading companies for indoor environment solutions. 720° currently has their offering in place at over 200 buildings, mainly in Finland. Net sales in 2020 amounted to 0.5 MEUR.

“We are very happy to announce this strategically important investment with 720°. 720° is in the forefront of monitoring, analysing, and visualizing the indoor climate and it gives Swegon a unique position as full-service providers of indoor climate solutions. We will together with 720° not only visualize the indoor climate, but also provide suggestions of how to improve the environment in a building. The indoor environment has in the past year become increasingly important and more and more people are becoming aware of the effect that it has on our health and productivity. Since the indoor environment is invisible and complex, we want to be able to provide property owners, tenants and other building users with clear insights and suggestions on their indoor environment”, says Andreas Örje Wellstam, CEO at Swegon Group.

“Both Swegon and 720° have a focus on indoor environmental quality and in particular from the human perspective. This partnership combines our technologies and services and allow us to reach a much larger customer base and even new markets. 720°’s knowledge and technological development of monitoring, analysing, and visualizing the indoor climate complements Swegons current portfolio in a very good way”, says Rick Aller, founder, and CEO of 720°.

The investment will be completed in August 2021.

Göteborg, 5 July, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Andreas Örje Wellstam, CEO Swegon +46 31 89 58 00
Matthew Goodrick, Corporate Development Swegon +46 31 89 58 00

Swegon Group is a market leading supplier in the field of indoor environment, offering solutions for ventilation, heating, cooling and climate optimisation, as well as connected services and expert technical support. Swegon has subsidiaries in and distributors all over the world and 16 production plants in Europe, North America and India. The company employs more than 2 600 people and in 2020 had a turnover of 6 billion SEK.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 83 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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EQT Infrastructure to acquire Cypress Creek Renewables, a leading integrated renewable energy platform in the US

eqt
  • EQT Infrastructure will support Cypress Creek’s continued growth and strategic vision – through development pipeline execution, fleet optimization and expansion, and scaling of the operations & maintenance services business
  • The acquisition of Cypress Creek marks EQT Infrastructure’s first acquisition of a renewable energy platform in the US and directly aligns with EQT’s thematic approach to investing in sustainable, values-focused businesses
  • Cypress Creek will benefit from EQT’s global advisor network and in-house digitalization and sustainability expertise

EQT is pleased to announce that the EQT Infrastructure V fund (“EQT Infrastructure”) has agreed to acquire Cypress Creek Renewables (“Cypress Creek” or the “Company”), a leading vertically integrated renewable energy platform, from certain funds managed by HPS Investment Partners, LLC (“HPS”) and Temasek.

One of the leading solar and storage energy companies, Cypress Creek develops, owns, and operates projects throughout the US. With approximately 300 employees, the company’s integrated platform provides the foundation for continuous innovation, securing the company’s leadership position in the energy transition.

The Company operates across 25 states, with 1.6GW in operating assets and a proven track record, having commercialized 11GW since inception in 2014. Cypress Creek is deeply rooted in the U.S. renewable energy market, offering a full suite of services across utility-scale and distributed solar and storage, with an expansive pipeline of future development and O&M services opportunities.

Cypress Creek, with its forward-thinking leadership team, is well-positioned to take advantage of the growing renewable energy market and continued investment in the US, supported by expanding federal and state policy, technology cost optimization, and corporate sustainability goals.

EQT Infrastructure is committed to building upon the success of Cypress Creek by making investments in operational, organizational, digital and sustainability initiatives to help the Company continue expanding and differentiating. EQT will leverage its extensive global experience of partnering with renewable energy and sustainability driven businesses, and network of global EQT advisors, to support Cypress Creek in its next phase of growth, as the Company continues to execute on its objective of becoming the most reputable sustainable energy company in the market.

Alex Darden, Partner within EQT Infrastructure’s Advisory Team, said, “Cypress Creek plays a critical role in North America’s renewable energy development and infrastructure market. Its platform is optimally situated to benefit from tailwinds of increasing and durable demand for clean and responsible energy. EQT is excited to invest in and partner with CEO Sarah Slusser and the entire Cypress Creek team as the Company pursues its next phase of growth and strategic vision. This investment aligns directly with our thematic approach of investing in sustainable businesses that have a positive impact on society. As a responsible investor, we are committed to working with Cypress Creek on transforming and supporting North America’s green energy future.”

Sarah Slusser, CEO of Cypress Creek, commented, “Cypress Creek Renewables is thrilled to have EQT backing our talented team and multi-year growth plan, centered on our mission of powering a sustainable future, one project at a time. With EQT, we will accelerate our sustainable growth in developing the highest-value solar and storage energy projects, providing best-in-class O&M services for ourselves and our customers, and expanding our fleet of operating assets.”

The transaction is subject to customary conditions and approvals and is expected to close in the second half of 2021.

Barclays served as financial advisor to EQT Infrastructure in connection with the transaction and Simpson Thacher & Bartlett LLP served as legal counsel. Morgan Stanley & Co. LLC served as the exclusive financial advisor to Cypress Creek in connection with the transaction and Kirkland & Ellis LLP served as legal counsel.

With this transaction, EQT Infrastructure V is expected to be 35-40 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, and subject to customary regulatory approvals.

Contact
Daniel Yunger, daniel.yunger@kekstcnc.com, +1 917 574 8582

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 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 Cypress Creek Renewables
Cypress Creek Renewables is powering a sustainable future, one project at a time. We develop, finance, operate and own utility-scale and distributed solar energy and storage facilities across the US. With 11GW of solar developed and more than 3.7GW under operations and maintenance management, Cypress Creek is a leading solar and storage energy company. 

More info: ccrenew.com

About HPS Investment Partners
HPS Investment Partners is a leading global investment firm with over $72 billion of assets under management as of July 2021. HPS seeks to provide creative capital solutions and generate attractive risk-adjusted returns for clients. HPS manages various strategies across the capital structure that include syndicated leveraged loans and high yield bonds to privately negotiated senior secured debt and mezzanine instruments, asset-based leasing and private equity.

More info: www.hpspartners.com

About Temasek
Temasek is an investment company with a net portfolio value of S$306B (US$214B) as of March 2020. Its three roles as an Investor, Institution and Steward, as defined in the Temasek Charter, shape Temasek’s ethos to do well, do right and do good. Temasek actively seeks sustainable solutions to address present and future challenges, through investment and other opportunities that help to bring about a better, smarter, and more sustainable world.

More info: www.temasek.com.sg

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EQT Private Equity and Goldman Sachs Asset Management to acquire Parexel, a leading global clinical research organization, for USD 8.5 billion

eqt
  • Parexel is a leading global provider of clinical research and consulting services to the pharma and biotech industry
  • Parexel’s services enable the development of innovative new medicines that improve the health of patients across the world
  • EQT Private Equity and Goldman Sachs Asset Management are committed to making significant investments to further Parexel’s offering, including best-in-class service delivery, quality, and client focus

The EQT IX fund (“EQT Private Equity”) and the Private Equity business within Goldman Sachs Asset Management (“Goldman Sachs”) have agreed to acquire Parexel (the “Company”), a leading global clinical research organization from Pamplona Capital Management for an enterprise value of USD 8.5 billion.

Parexel was founded in 1982 and is co-headquartered in Durham, NC and Newton, MA, USA. The Company has significant expertise across the drug development and commercialization continuum, offering a comprehensive suite of outsourced clinical research services, as well as regulatory, market access, and strategy consulting services. Parexel’s services enable the pharma and biotech industry to develop innovative new medicines that improve the health of patients across the world. The Company has a strong patient centric focus, having been a driving force in the market shift towards decentralized clinical trials and increased patient diversity over the last few years. Parexel employs more than 17,000 people and conducts clinical trials in more than 95 different countries.

Eric Liu, Partner and Global Co-Head of Healthcare at EQT, commented, “We have followed Parexel closely during the past few years and have been impressed by the Company’s development and trajectory. Our investment in Parexel reflects EQT’s thematic focus on the life sciences industry, as well as our commitment to partnering with businesses that have a positive impact on society. We are excited to partner with Goldman Sachs for the next stage of Parexel’s journey, and to back Jamie, who prior to his role at Parexel had been a long-time senior advisor to EQT, as well as the rest of the Parexel team.”

Jo Natauri, Partner and Global Head of Private Healthcare Investing within Goldman Sachs Asset Management, commented, “We are thrilled to partner with Jamie Macdonald, the entire Parexel management team and EQT to support Parexel, which has a distinguished track record of delivering clinical excellence to their large pharma and biotech customers globally. We believe this investment will accelerate Parexel’s growth as it builds on the company’s global footprint, strong operational capabilities and expansive healthcare network.”

Jamie Macdonald, CEO of Parexel, commented, “We are proud of what Parexel has achieved over the recent years in collaboration with Pamplona, and the transformative journey that we have embarked on. EQT and Goldman Sachs are two leading global institutions with significant experience and expertise in the healthcare sector, and I am excited to partner with both in the next stage of our journey.”

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.

Goldman Sachs and Jefferies LLC acted as financial advisors to EQT Private Equity and Goldman Sachs Asset Management, and Simpson Thacher & Bartlett LLP provided legal counsel.

With this transaction, EQT IX fund is expected to be 55-60 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).

Contact
Daniel Yunger, daniel.yunger@kekstcnc.com, +1 917 574 8582
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 67 billion in assets under management across 26 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 Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $75 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios. 

Follow us on LinkedIn

About Parexel
Parexel supports the development of innovative new medicines to improve the health of patients. We provide services to help life science and biopharmaceutical clients everywhere transform scientific discoveries into new treatments. From clinical trials to regulatory and consulting services to commercial and market access, our therapeutic, technical and functional ability is underpinned by a deep conviction in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel for Informa Pharma Intelligence.

For more information, visit our website and follow us on LinkedIn, Twitter and Instagram

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EQT Private Equity to sell Iver, one of the leading Nordic managed IT services providers

eqt
  • EQT Private Equity sells Iver, one of the leading Nordic managed IT services providers with a multi-cloud offering and complete IT outsourcing capabilities, to ICG
  • EQT Private Equity founded Iver through the merger of Candidator and DGC IT Services with the aim to create a platform for consolidation of the highly polarized and fragmented Nordic market, and has since then completed 10 additional strategic add-ons in Sweden and Norway
  • Under EQT Private Equity’s ownership, Iver has more than tripled revenues, while achieving industry low churn and top ranked customer satisfaction

EQT is pleased to announce that the EQT Mid Market Europe fund (“EQT Private Equity”) has agreed to sell Iver Holding AB (“Iver” or the “Company”) to Intermediate Capital Group plc (“ICG”), a UK-based global alternative asset manager.

Headquartered in Stockholm, Sweden, Iver offers full IT-outsourcing capabilities and focuses on high-growth areas such as multi-cloud, digital transformation, cybersecurity and DevOps-services. Iver is the preferred partner for customers with complex IT needs, such as demanding digital infrastructure, security, and regulatory compliance requirements. As part of its multi-cloud offering, Iver partners with major public cloud vendors, such as Amazon and Microsoft, while offering a proprietary European public cloud alternative, compliant to all industry, regulatory, and security requirements. Iver employs more than 1,300 people across its 25 local offices in Sweden and Norway.

Iver was founded in May 2018 through the merger of EQT portfolio companies Candidator and DGC IT Services, which were acquired in February 2018 and May 2018, respectively. The two companies’ strategically complementary characteristics, along with the market fragmentation, brought unique opportunities to build a platform for industry consolidation.

Since then, EQT Private Equity has supported Iver’s ambitious M&A agenda, and in addition to delivering strong organic growth, the Company has completed 10 strategic add-ons in Sweden and Norway. Iver has transformed into an integrated Nordic industry leader with deep capabilities in high growth areas. The Company has more than tripled revenues over the last three years and generated SEK 2.5 billion in 2020. With support from EQT and the board, Iver has increased its focus on ESG and is measuring, analyzing and following-up on its climate impact and CO2 emissions throughout the Company’s entire supply chain. In addition to complying to multiple ISO certifications, the Company’s datacenters are fully powered by renewable energy.

Albert Gustafsson, Partner within EQT Private Equity’s Advisory Team, commented, ”We are grateful to have worked alongside Iver’s entrepreneurial and visionary management team and employees, who have driven the transformation from an industry challenger into a Nordic leader. Iver is uniquely positioned and is supported by strong structural trends, such as the increasing pace of outsourced IT services and growing demand for IT security. We are confident in management’s ability to continue the successful path with Iver’s new owner.”

Carl-Magnus Månsson, CEO of Iver, said, “Modern digital infrastructure is a fundament for accelerating digital innovation and protecting digital values. We are on an exciting journey, the support from the EQT has significantly contributed to helping us transform the business and accelerate growth by making substantial investments. We would like to thank the EQT team, as well as the Iver board, for their support and we look forward to the next phase in our development together with ICG”.

The transaction is subject to customary conditions and approvals and is expected to close in August 2021. The parties have agreed not to disclose the transaction value.

EQT Private Equity was advised by EY (financial and tax) and White & Case (legal).

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 67 billion in assets under management across 26 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 Iver
Iver develops, packages, and provides IT services that offer digital competitive advantages and enable innovation. We guide our clients through an ever-changing IT landscape and make it easy for them to adopt new technologies and modern methodologies. Our client base spans every sector, and we provide services for medium- and large-sized companies, organisations, and the public sector. Iver’s registered office is in Stockholm, but we operate throughout the Nordic region, where our agenda is one of continued expansion while remaining, at all times, close to our clients. Iver has a turnover of just over SEK 2.5 billion and approximately 1,300 employees who work at one of our 25 offices in Sweden and Norway. We are big, but we are close to our clients, both geographically and at heart.

More info: www.iver.com

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

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EQT Infrastructure to sell Unilode Aviation Solutions

eqt
  • EQT Infrastructure to sell Unilode Aviation Solutions, the global market leader in specialty aviation infrastructure leasing, to Basalt Infrastructure Partners
  • Unilode provides mission critical equipment to the aviation industry through its unique pooling model that enables a superior and long-term economic proposition for all stakeholders
  • Under EQT Infrastructure’s ownership, the Company completed a transformative growth journey, more than doubled its EBITDA, developed an award-winning IoT solution creating the world’s largest digital Unit Load Devices fleet, while fortifying its global market leadership position

EQT is pleased to announce that the EQT Infrastructure II fund (“EQT Infrastructure”) has agreed to sell Unilode Aviation Solutions (“Unilode” or “the Company”) to Basalt Infrastructure Partners, an independent infrastructure investment firm with a transatlantic focus on mid-market infrastructure.

Headquartered in Zurich, Switzerland, Unilode Aviation Solutions is the global market leader in specialty aviation infrastructure leasing. The Company owns and manages a fleet of 145,000 Unit Load Devices (ULD) that are provided under long-term, full-service leasing agreements to airlines and cargo carriers. ULDs are mission critical containers and pallets used for the transportation of baggage and cargo on aircraft. The Company operates a global network of c.50 service centers that offer a wide array of infrastructure servicing solutions for ULDs and galley carts. The Company launched short-term ULD leasing and digital solutions providing tangible internal benefits and high value-add for its customers, based on equipping ULDs with multi-sensor Bluetooth tags combined with a global interoperable reader infrastructure.

EQT Infrastructure acquired CHEP Aerospace Solutions from the global supply-chain logistics provider Brambles in 2016. Following a corporate carve-out and rebranding to Unilode, EQT Infrastructure initiated a transformative growth journey which allowed the Company to achieve a 100 percent renewal rate in full-service leasing and achieve several major new customers acquisitions.

In addition to steadily broadening its customer base and growing organically, Unilode has expanded its global footprint and opened new service centers in Europe, the Americas and Asia Pacific. Under EQT Infrastructure’s ownership, Unilode also ventured into adjacent areas by introducing a short-term leasing offering in 2019 as natural extension and growth complement to its core product offering. Moreover, the Company launched an award-winning digital solution with the support of EQT’s in-house Digital Team, with Unilode today operating the world’s largest IoT-enabled ULD fleet.

Ulrich Köllensperger, Partner within EQT Infrastructure’s Advisory Team, said, “Unilode is a great example of EQT’s value creation strategy. Under the leadership of a new management team and a complementary industrial board we have made significant investments into the Company and implemented a customer centricity and operational focused value creation plan. Unilode’s growth story is underpinned by strong megatrends such as the sharing economy and digitization and the mission criticality of its offering has been proven during Covid-19 when the business has shown strong resilience. We wish the Company, management, and all its employees every success in the future.”

Benoit Dumont, CEO of Unilode, said, “I joined Unilode because I shared the vision of EQT to create the undisputed global market leader in ULD management. Under EQT’s ownership, we have significantly scaled the business, expanded our customer base and product offering and introduced an award-winning digital solution providing unprecedented insights and visibility for the air cargo supply chain. I see substantial further growth potential in the years to come driven by a new outsourcing wave currently emerging and supported by our pooling synergies and state-of-the art digital infrastructure.”

The transaction is expected to close during Q3 2021.

Deutsche Bank acted as financial advisor and Bär & Karrer as legal advisor to EQT Infrastructure.

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 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 Unilode
Unilode owns and manages the world’s largest fleet of approximately 145,000 unit load devices (ULDs), for use in the aviation industry, and owns and operates the largest global network for the maintenance and repair of ULDs and inflight food service equipment. Unilode provides management, repair, short term leasing and digitalisation solutions to over 90 airlines through a network of more than 550 airports, 18 regional offices and 49 certified repair stations, supported by 600+ employees.

More info: www.unilode.com

About Basalt Infrastructure Partners LLP
Basalt Infrastructure Partners LLP is a leading mid-market infrastructure firm wholly owned by its partners with offices in London and New York. The Basalt equity investment funds focus on investments in utilities, power, transport, and digital infrastructure in North America and Europe. Following the successful raising of Basalt III, the Basalt funds have over $5 billion in funds under management and have made investments in 20 companies across the three funds. The current team of 30 investment professionals continue to grow to support the Basalt franchise.

More info: www.basaltinfra.com

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

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CapMan Buyout exits Solera Beverage Group to Royal Unibrew

Capman

CapMan Buyout Press Release
2 july 2021 at 08:30 a.m. EET

CapMan Buyout exits Solera Beverage Group to Royal Unibrew

Funds managed by CapMan Buyout have agreed to sell Solera Beverage Group to the listed beverage company Royal Unibrew A/S.

Solera Beverage Group is a leading importer and distributor of wine and other beverages in the Nordic monopolised markets. The group houses over 700 world-renowned brands and sold over 44 million litres of beverages, reaching sales of NOK 1.9 billion in 2020.

Royal Unibrew, the Danish multi-regional beverage company listed on OMX Copenhagen, has today entered into an agreement to acquire the shares in Solera Beverage Group from Funds managed by CapMan Buyout. The acquisition will add Norway and Sweden to Royal Unibrew’s geographical footprint while complementing the already established business in Finland.

“During CapMan’s ownership period we have developed the business both organically and through strategic add-on acquisitions. We have seen strong organic growth, on the back of a stable and non-cyclical industry, through several operational initiatives. For example, Solera has expanded the number of brands represented, developed the Multibev business focusing on low and non-alcoholic beverages, and established several own brands during the years.” tells Johan Pålsson, Co-Managing Partner at CapMan Buyout.

“We believe Royal Unibrew is a good new owner of Solera. The strategic fit is strong between the two companies and the combined platform will accelerate the development of the two companies. I want to thank the entire Solera organisation for great cooperation over many years” Pålsson continues.

“I am pleased to welcome Royal Unibrew as a new owner of Solera Group. The combination forms a strong platform for a multi-beverage business across the Nordics and around the Baltic Sea, and I look forward to further develop and grow the business together. At the same time, I want to thank CapMan for their instrumental support in developing Solera during their holding period into a pan-Nordic player with a strong multi-beverage offering.” says Ole Petter Wie, Group CEO of Solera.

CapMan Buyout IX fund made the investment in Solera Beverage Group in 2011. The transaction is expected to close in Q3 2021. The transaction is subject to regulatory approval. Lincoln International acted as financial advisor and Wiersholm as legal advisor to CapMan Buyout in the transaction.

For further information, please contact:

Johan Pålsson, Co-Managing Partner, CapMan Buyout, tel. +46 705 956 224

About CapMan

CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of close to €4 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

About Royal Unibrew A/S

Royal Unibrew is a leading regional multi-beverage company providing strong brands to our main markets Denmark, Finland, Italy, Germany, France and the Baltics, and to 65+ countries in the rest of the world. We serve our consumers by offering high quality beverages within beer, malt beverages, soft drinks as well as ciders, ready-to-drink, juice, energy and water products. In addition to our own brands, we offer license-based international brands from PepsiCo and Heineken in Northern Europe.

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CapMan Buyout invests in sports nutrition, supplements, and equipment company MMSports

Capman

CapMan Buyout Press Release
2 July 2021 at 08.00 am (EET)

CapMan Buyout invests in sports nutrition, supplements, and equipment company MMSports

CapMan Buyout’s fund CapMan Buyout XI has entered into an agreement to invest in the leading sports nutrition and equipment company MMSports. CapMan will acquire a majority equity share in the company, with key members of the MMSports organization investing a significant share. CapMan Buyout will partner with the MMSports team to continue to support its accelerated growth and international expansion. The investment is the third of the CapMan Buyout XI fund, which was established in 2019.

MMSports AB was founded in 2002 and is one of the leading sports nutrition and health supplement companies in Sweden. The company’s product offering consists of sports nutrition, health supplements, gym equipment and accessories. MMSports has a strong portfolio of proprietary brands and products developed in-house, as well as a selection of external brands. The company has its own e-commerce platform, mmsports.se, through which most products are sold. MMSports also operates nine physical stores in Sweden. Currently, specialist growth investor Verdane owns the majority stake in the company with the founder being a significant co-investor.

“During the past three years, the company has been able to execute fast growth and improve profitability. Today, the company has operations primarily in Sweden, but sales also to Norway and Denmark. We are excited to join MMSports on its journey to capture further growth in Sweden and accelerate international expansion. We are especially impressed by the strong winning culture in MMSports, which is and will continue to be a key success factor for any company. The strong focus on their proprietary brands and in-house developed products is also something we expect to build further on.”, says Tobias Karte, partner at CapMan Buyout.

“We are looking forward to the next phase of growth and are excited to start collaborating with the CapMan team. We see great potential in the market and believe that with our high-quality products and strong team we will be able to grow sales, also outside of Sweden. CapMan will continue to bring the support needed for our organization to take the next step,” says Erik Sjöberg, CEO of MMSports.

“We want to extend our warmest thanks to Erik and the MMSports team for a productive collaboration and wish the team all the best, as they continue their growth journey together with the CapMan team”, says Christian Jebsen, partner at Verdane.

The CapMan Buyout team comprises of 10 investment professionals working in Helsinki and Stockholm and the funds managed by CapMan Buyout invest in medium-sized, unlisted companies in the Nordic countries. The investment in MMSports is made from the CapMan Buyout XI fund, which was established in 2019 and is the fund’s third investment. The transaction is expected to close within a few weeks.

For more information, please contact:

Tobias Karte, Partner, CapMan Buyout, tel. +46 73 344 28 96

Erik Sjöberg, CEO, MMSports, tel. +46 73 526 23 27

About CapMan
CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of close to €4 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

About MMSports
MMSports is one of the leading supplement and sports nutrition companies in Sweden. The company was founded in 2002 by Olle Sparringsjö and has been owned by the founder and Verdane since 2014, until CapMan’s acquisition in July 2021. The company boasts a strong portfolio of proprietary brands and in-house developed products as well as a selection of external brands and products. The product offering includes sports nutrition, health supplements, gym wear and accessories & equipment.  Majority of the company’s products are sold through their own e-commerce platform.  In addition, MMSports has a network of 9 physical stores in Sweden. In 2020, MMSports had sales of 230 MSEK from Sweden, Norway and Denmark. Visit MMSports at mmsports.se.

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EQT Private Equity to sell Fertin Pharma to Philip Morris International

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  • EQT Private Equity to sell Fertin Pharma, a leading specialist contract development and manufacturing organization (CDMO) in innovative oral and intra-oral delivery technologies, to Philip Morris International for a headline Enterprise Value of DKK 5.1 billion
  • Fertin Pharma’s products enable people to live healthier lives – supporting millions of customers with reducing and quitting harmful cigarette smoking, and easier-to-consume oral care products, among other platforms
  • Under EQT Private Equity’s ownership, Fertin Pharma has continued and strengthened its transformation from a niche champion to a leader in innovative oral and intra-oral drug delivery technologies, through investments in its manufacturing and development capabilities, product diversification, sustainability efforts and expanded customer base, which includes some of the world’s largest pharmaceutical and healthcare companies

EQT is pleased to announce that the EQT Mid Market Europe fund (“EQT Private Equity”) has agreed to sell Fertin Pharma (the “Company”), a specialist CDMO in innovative oral and intra-oral delivery technologies, to Philip Morris International Inc. (“PMI”) for an enterprise value of DKK 5.1 billion.

Headquartered in Vejle, Denmark, Fertin Pharma is a leading specialist CDMO in innovative oral and intra-oral delivery technologies to support healthier living. The Company develops and manufactures innovative delivery systems, such as chewing gums, tablets and powders, used for pharmaceutical- and nutraceutical applications. Innovative- and consumer relevant solutions that when consumed enhance the efficacy of active and functional ingredients.

Fertin Pharma’s patented delivery technologies enable people all around the world to live healthier lives, whether it be helping to reduce and ultimately quit cigarette use or gaining access to a broad range of easy-to-consume formats for consumer healthcare applications. In 2020, nearly three billion Nicotine Replacement Therapy (“NRT”) doses were manufactured, supporting more than 3.2 million people with reducing and quitting smoking.

The Company’s heritage dates back to 1915 when the Danish Bagger-Sørensen family founded the Dandy Group, focusing on confectionery production. In 1978, Fertin Pharma was set up within the Group and eventually separated as an independent subsidiary in 2001 to pioneer the use of chewing gum as a medical delivery technology. Today, Fertin Pharma is a global business with fully integrated and automated manufacturing and R&D capabilities through sites in Denmark, Canada and India, and a total employee base of more than 860 people.

EQT Private Equity acquired a 70 percent stake in Fertin Pharma in 2017 from the Bagger-Sørensen family, which has remained invested and actively supportive of the Company’s diversification journey throughout EQT’s ownership period. Since then, Fertin Pharma has transformed from a niche champion to a leader in its application areas. EQT has supported the broadening of the Company’s platform of delivery technologies, from solely focusing on medicated chewing gum to now offering a diverse range of oral care applications, including tablets that liquefy when chewed, fast- or slow-dissolving tablets for controlled release, extruded and compressed gum, and pouches with powder that dissolves under the upper lip. Fertin Pharma has also grown its customer base with several blue-chip industry leaders, including the world’s largest pharmaceutical and healthcare companies.

Moreover, Fertin Pharma has doubled its productivity through upgrading of business-critical systems, digitizing and automizing of production facilities, and increased investments in R&D and sustainability. Under EQT Private Equity’s ownership, the Company has grown EBITDA by close to 50 percent.

Rikke Kjær Nielsen, Partner within EQT Private Equity’s Advisory Team, “Since EQT entered in 2017, the strategy has been to develop the path for Fertin Pharma’s diversification journey. We are extremely proud of what we have accomplished together with the Bagger-Sørensen family, the board and the management team, taking the Company from a niche Nicotine Replacement Therapy champion to an international industry leader with a diversified portfolio of technologies and blue-chip customers in consumer health. I would particularly like to thank the Bagger-Sørensen family for the great cooperation and partnership over the years. We are confident that PMI will be a good long-term home for Fertin Pharma with their ambition to lead the transformation of the tobacco industry to create a smoke-free future – an ambition closely aligned with Fertin’s vision of supporting healthier living.”

Claus Bagger-Sørensen, Co-owner and board member of Bagger-Sørensen & Co. said, “On behalf of the Bagger-Sørensen family, it has been a true pleasure to partner with EQT during this phase of Fertin Pharma’s growth journey. We have had a great partnership based on shared ambitions for Fertin Pharma, which we have realised in successful collaboration. I hope and believe the sale will further strengthen the journey towards a smoke-free future and healthier lives.”

Peter Halling, CEO of Fertin Pharma, commented: “Fertin Pharma has been on a fantastic journey with EQT and the Bagger-Sørensen family as owners. With the new ownership in place, Fertin Pharma will be in a great position to continue delivering on our vision and mission, including our work as a CDMO for our customers. PMI is going through an inspiring transformation as a company with an ambition to deliver a smoke-free future and building a beyond nicotine product portfolio. An ambition that perfectly matches that of Fertin Pharma, namely to enable people to live healthier lives. In PMI we have found a new owner and partner who shares our vision, who is committed to science and who will enable Fertin Pharma to further accelerate and grow as a company.”

Jacek Olczak, Chief Executive Officer of PMI added, “The acquisition of Fertin Pharma will be a significant step forward on our journey toward delivering a smoke-free future – enhancing our smoke-free portfolio, notably in modern oral, and accelerating our progress in beyond nicotine. Both PMI and Fertin share a commitment to science and consumer-centric innovations for better living, and I am delighted we have reached this agreement. Fertin’s diverse portfolio of technologies, evolving business mix, and world-class expertise will enrich our innovation pipeline and capabilities, providing speed and scale in oral delivery to support our 2025 goals of generating more than 50% of our net revenues from smoke-free products and at least USD 1 billion from products beyond nicotine.”

The transaction is subject to customary conditions and approvals and is expected to close later in 2021.

EQT Private Equity was advised by FIH Partners (M&A), Accura (legal), PwC (financial & tax), BCG (commercial), Implement (operations) and COWI (EHS).

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 67 billion in assets under management across 26 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 Fertin Pharma
Fertin is a Danish contract development and manufacturing organization specializing in innovative oral dosage formats with nutraceutical and pharmaceutical ingredients. The company provides patients and consumers with convenient, pleasurable and efficient delivery formats, based on substantial know-how, technological capabilities and consumer insight.

More info: www.fertin.com

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Cross and Gimv form European market leader for wire mesh solutions

GIMV

Topic: Investment

  • The German WDM Group, a leading supplier of customised, spot-welded wire mesh solutions, and the German Deutenberg Group, a producer of high-quality bent wire components, join forces
  • The partnership will reinforce the market leadership in the field of special industrial wire mesh, and aims to expand the product portfolio and manufacturing expertise

Wolfshagen and Ense/Höingen, 1 July 2021 – WDM Wolfshagener Draht- und Metallverarbeitung, a portfolio company of the private equity firm Cross, and Deutenberg are merging to form a European market leader for customised, spot-welded wire mesh solutions, bent wire components, wire mats, and grid mesh components. The private equity firm Gimv joins as an additional shareholder with a minority stake in the new WDM/Deutenberg Group.

Founded in 1994 and based in the German state of Brandenburg, WDM produces 35,000 spot-welded wire mesh units per day. Its core competence lies primarily in the production of customised, special industrial mesh. WDM’s customers include renowned companies in sectors such as construction, industry, trade, logistics and livestock farming. WDM was acquired in early 2018 by Cross, a private equity firm specialising in succession planning, and has since pursued a focused expansion strategy: At the end of 2019, the acquisition of Midrahtec Drahtwaren based in Leisnig, Germany, marked an important step on this growth journey, bringing both additional expertise in advanced 3D-forming and -welding processes as well as a new location to WDM Group.

Deutenberg, a family business based in Ense in Germany’s Sauerland region, has more than 60 years of experience as a specialist in the development and production of high-quality wire products for sectors such as industry, architecture, retail and shopfitting. The group is an ideal complement for WDM, both in terms of product offering as well as end markets served. With Deutenberg, WDM strengthens its position as a leading supplier of wire mesh solutions and expands both its product portfolio and manufacturing expertise. The long-standing experience of both companies in producing wire products will enable the combined group to drive innovations in this area even more effectively in the future.

Dr Michael Petersen, Managing Partner at Cross Equity Partners AG and Chairman of the Board of the new WDM/Deutenberg Group, says: “The acquisition of Deutenberg as part of a family succession solution is another milestone in WDM’s growth journey and enables us to cover the end markets even better.”

Ronald Bartel, Partner at Gimv‘s Smart Industries team in Munich, explains: “Combining WDM and Deutenberg creates a clear European market leader and enables the two companies to jointly respond even better to customer-specific requests and offer larger quantities.”

Ernst Hüffmeier, CEO of WDM, adds: “The merger with Deutenberg is a significant step for us. We look forward to working with their experienced management team to provide even better solutions to our customers.”

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