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Kinnevik invests SEK150 million in MatHem’s SEK1.1 billion funding round

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Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced its pro-rata participation of SEK 150m in Mathem’s SEK 400m primary equity raise. Existing investors AMF and Stena invested SEK 100m and SEK 50m respectively, increasing their ownership in the business. The funding round also includes a debt facility of SEK 700m provided by P Capital Partners AB.

The newly raised capital will be used to fund MatHem’s continued expansion, including the launch of the new fulfilment center in Larsboda next year, and growing the product offering through, among other initiatives, the launch of pharmacy products in cooperation with Kronans Apotek. In 2020, MatHem recorded sales growth of 50 percent year-on-year, with sales amounting to SEK 2.3bn for the full year, consistently growing its share of the online grocery home delivery market.

Georgi Ganev, CEO of Kinnevik commented: ”Kinnevik is proud to support the continued growth of MatHem as it expands its product range and gains market share. I am impressed by how Johan and his team has met the increased interest in having groceries delivered to your doorstep, and I am convinced that MatHem will continue to develop its customer offering and efficiency.”

Johan Lagercrantz, CEO of MatHem commented: “I am incredibly grateful for the trust in MatHem from our investors in this funding round. MatHem has a clear focus on growth and increased efficiency in our continued journey towards profitability. We work hard to constantly develop to meet our customers’ needs and for our e-commerce of groceries with home delivery to contribute to a more convenient and simpler everyday life. With this investment we will be able to achieve fantastic results going forward.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik’s ambition is to be Europe’s leading listed growth investor, and we back the best digital companies to make people’ lives better and deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthtech, consumer services, foodtech and fintech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe, with a focus on the Nordics, and in the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Ornikar Raises €100m ($120m) in Series C Funding Led by KKR

KKR

April 22, 2021

Investment accelerates Ornikar’s mission to become a global leader in road safety

  • Ornikar focuses on driving tech-enabled innovations that re-imagine how drivers are trained and insured
  • KKR makes significant investment in Ornikar’s funding round which includes participation by existing investors Idinvest, BPI via its fund Large Venture, Elaia, Brighteye, and H14
  • €100 million ($120 million) Series C round brings Ornikar’s total financing raised to €146 million ($175 million)
  • Following its successful expansion into Spain and the launch of its auto insurance offering Ornikar Assurance, Ornikar will use the capital to accelerate its international development under the Onroad brand, develop new learning resources and expand its range of driver services

 

PARIS–(BUSINESS WIRE)–Ornikar, a specialist in driver training and road awareness since 2013, today announced a €100 million ($120 million) round of Series C funding led by global investment firm KKR, which is making the investment primarily through its Next Generation Technology Growth Fund. Existing investors Idinvest, BPI, Elaia, Brighteye and H14 also contributed to Ornikar’s latest fundraise which will enable the company to accelerate its mission of becoming a global leader in road safety.

In less than a decade, Ornikar has revolutionised the traditional driving school model to become the go-to online driver education platform and training marketplace in France, with a fast-growing presence in Spain. Ornikar’s platform – which offers comprehensive online driver education courses and matches students with independent driving instructors – has helped over 1.5 million people learn the rules of the road.

In 2020, the company expanded into France’s €17 billion ($20 billion) car insurance market with the launch of Ornikar Assurance, a product designed for the digital world with a highly intuitive user experience and services tailored to each individual driver’s needs.

Benjamin Gaignault, co-founder and CEO of Ornikar, said: “We are very proud to have KKR join our established investors to support our goal of becoming a global leader in road safety. We have proven the effectiveness, sustainability and flexibility of the model we created, including showing that Ornikar can be replicated outside France. Our ambitions are far-reaching and we aim to drive innovations that re-imagine how drivers are trained and insured. KKR is a first-rate investor and will be a huge asset in accelerating our international rollout for training, car insurance, and other driver services.”

The financing round comes after a successful year for Ornikar, which became a French Tech 120 member in 2020. The company, led by Benjamin Gaignault and Flavien Le Rendu, added 420,000 new users last year, growing as much as 30% a month during the global pandemic which helped to accelerate the adoption of online services.

Patrick Devine, Director at KKR and member of the Next Generation Technology Growth investment team, said: “Ornikar has done a tremendous job creating a great experience for students and driving instructors through engaging online education courses and a well-designed marketplace. We are thrilled to invest behind Benjamin, Flavien, and their talented team as they expand internationally and accelerate their insurance offering following the successful launches of Onroad in Spain and Ornikar Assurance.”

KKR’s Next Generation Technology Growth strategy is dedicated to growth equity investment opportunities in the technology sector. Ornikar is KKR’s third growth investment in France’s technology startup ecosystem, following its investments in Ivalua and Fotolia. This marks KKR’s sixth investment in France over the last twelve months.

Benoist Grossmann from Idinvest Partners and Yassine Soual from Bpifrance Large Venture added: “We have always been convinced of the relevance of the Ornikar model to meet the challenges of road safety education. We are pleased to continue our support in this new phase, which not only validates the team’s goals over the past few years, but also provides the company with the means to become an international reference player in road safety by way of education and insurance.”

Lauriane Requena, who leads KKR’s Next Generation Technology Growth investing strategy in France, concluded: “We are pleased to make our latest investment in the French tech ecosystem which benefits from a unique mix of skilled engineers, a strong network of successful entrepreneurs, and a supportive public policy.”

Today, Ornikar’s platform prepares over 35% of drivers for the French Code de la Route driving tests. Ornikar plans to continue its development both in France and other countries under the Onroad brand, develop new learning resources and tools for driving instructors, and expand its range of driver services.

About Ornikar

A specialist in driver training and road awareness since 2013, Ornikar’s ambition is to become a global leader in road safety thanks to its global approach combining educational training and car insurance. In less than a decade, the company run by Benjamin Gaignault and Flavien Le Rendu has revolutionised the traditional driving school model to become the go-to online driver education platform and training marketplace in France, with more than 1.5 million clients. With a fast-growing presence in the Spanish market, Ornikar plans to continue its international development under the Onroad brand. Ornikar has been a French Tech 120 member since 2020.

About KKR

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Contacts

Press contact for Ornikar: Image 7
Roxane Planas rplanas@image7.Fr ; Florence Coupry fcoupry@image7.Fr

Press contact for KKR: Milltown Partners

Simon Thiel sthiel@milltownpartners.com +44 79 72 630 913

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SI Foods agrees partnership with CVC Capital Partners

CVC Capital Partners

The current SI Foods owners will remain active shareholders and will continue to manage Dodoni, its subsidiaries and its operations

SI Foods Ltd, the majority shareholder of Dodoni SA (“Dodoni”) and CVC Capital Partners VII (“CVC Fund VII”) have agreed to the joint ownership of SI Foods Holding Ltd (“SIF”) whereby CVC Fund VII will hold a majority interest.

The current SI Foods owners will remain active shareholders and will continue to manage Dodoni, its subsidiaries and its operations. The partnership will leverage SIF, and Dodoni, as a platform to grow the presence in particular in the specialty cheese and related sectors through investments and possibly acquisitions in Greece and abroad.

In 2012, Dodoni, the leading Greek dairy and best-selling Greek Feta PDO brand, was privatised by the Greek State and sold to SI Foods Ltd, a group of private investors, including the partners of Lime Capital Partners Ltd. Since its privatisation, the subsequent owners have significantly restructured Dodoni investing in its production facilities, organisation and sales and marketing. As a result, Dodoni’s revenues have almost doubled with about 50% being generated through exports. Since 2012, Dodoni has provided strong support for the primary economy, increasing the number of permanent employees from 270 to over 600 in Greece and having paid more than €0.5 billion to its farmers.

CVC Capital Partners (“CVC”) is a leading private equity and investment advisory firm with a network of 23 offices throughout Europe, Asia and the US. Funds managed or advised by CVC (“CVC Funds”) are invested in over 90 companies worldwide, employing more than 450,000 people.

CVC Funds are also one of the most active investors in Greece with a dedicated team in Athens which has invested or committed more than €1 billion of equity since 2017, including in Hellenic Healthcare Group, e-Travel, Skroutz, D-Marin and Vivartia, as well as recently agreeing the acquisition of Ethniki Insurance.

Tom Seepers, CEO of Dodoni stated: “We are proud to enter into this exciting partnership with CVC enabling us to take the next step in our long-term strategy to transform Dodoni. The current shareholders and management of Dodoni remain committed to their long-term strategy of growing the company and providing stability and security to its suppliers and employees. With CVC we have secured a strong partner with a focus on sustainable value creation, who shares our focus on ESG  and can enable us to accelerate the future development of Dodoni.”

SI Foods is being advised by KBVL, Ionian Capital and Eveda Capital.

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MetroNet Announces New Investments from Oak Hill Capital and KKR

KKR

New Funding will Accelerate Deployment of Fiber-Based High Speed Broadband Networks to Communities Across the U.S.

EVANSVILLE, Ind., April 21, 2021 /PRNewswire/ — MetroNet today announced that funds managed by leading global investment firm KKR will be joining long-time partner, Oak Hill Capital, and management as investors in MetroNet. As part of the transaction, Oak Hill and KKR will each make new investments to help accelerate MetroNet’s growth in building and connecting fiber-to-the-premise (FTTP) data, television, and telephone services to homes and businesses. This year, MetroNet launched services in its 9th state as it continues to expand its fiber footprint to local communities across the country.

“We value our long-standing partnership with Oak Hill and are proud to welcome our new investors at KKR,” said John Cinelli, MetroNet CEO. “The additional investments from Oak Hill and KKR will drive growth that further bridges the digital divide by providing hundreds of thousands of additional households access to world class and future proof 100% fiber optic services for living, learning, and connecting to each other. We look forward to maintaining our commitment to excellence in serving our customers and communities.”

MetroNet is one of the fastest-growing providers of fiber optic high-speed broadband services in the nation. The company is known for its superior customer service provided through a strong local presence. MetroNet delivers affordable symmetrical speeds of up to 10 Gbps to homes and businesses in underserved, small town America, and is credited with creating the largest Gigabit city in the U.S. by fully wiring Lexington, Kentucky. MetroNet’s state-of-the-art fiber optic network is built to the highest technical standards, with its existing infrastructure having supported reliable service over the past year when COVID-induced disruptions substantially increased the need for greater bandwidth for tele-work, school, health, and more. The company expects its network to be available to over 1 million residential households and business locations in the near future, bringing competition for these services to hundreds of communities.

Oak Hill is an experienced investor in the FTTP space and has been a partner with the MetroNet team since 2014.  Other Oak Hill broadband investments to enable increased fiber access in the U.S. include Vexus Fiber, a rapidly expanding provider in Texas and surrounding states; Future Fiber Holdings in the Northeast; and Race Communications in California and surrounding states.

“We believe that reliable, high-speed access to the Internet represents a fundamental underpinning of economic growth and equal opportunity for all Americans, from small towns to big cities,” said Benjy Diesbach and Scott Baker, partners at Oak Hill.  “We are excited to build upon our seven year partnership with MetroNet’s outstanding management team, led by John Cinelli, as the company expands its fiber network to many more underserved American communities.”

KKR will be making the investment in MetroNet through its global infrastructure strategy. The firm first established its global infrastructure strategy in 2008 and has since been one of the most active infrastructure investors around the world, currently managing over $27 billion in infrastructure assets. KKR has significant experience investing in the growth of leading FTTP providers globally, including FiberCop in Italy, Hyperoptic in the U.K. and Deutsche Glasfaser in Germany. Most recently, KKR announced the creation of independent open access wholesale fiber optic network companies in both Chile and in the Netherlands.

“MetroNet has set itself apart as the leading independent FTTP provider in the U.S., well-known for its high quality technology, exceptional customer service and local operations,” said Waldemar Szlezak, a senior leader on KKR’s infrastructure investment team. “We are thrilled to be supporting MetroNet, alongside Oak Hill, on its mission to deliver much-needed broadband access across the U.S., a market that is well behind its peers in FTTP connectivity.”

The transaction is expected to close in the 3rd quarter, subject to regulatory approvals and other customary closing conditions. Specific terms of the investment were not released.

Bank Street Group LLC and Goldman Sachs & Co. LLC served as co-lead financial advisors to MetroNet in connection with this transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Polsinelli served as legal counsel to MetroNet. TD Securities served as advisor to Oak Hill. Simpson Thacher served as legal counsel to KKR.

About MetroNet:
MetroNet is a 100 percent Fiber Optic Company headquartered in Evansville, Indiana. The customer-focused company provides cutting-edge fiber optic communication services, including high-speed Fiber Internet, full-featured Fiber Phone, and Fiber IPTV with a wide variety of programing. MetroNet started in 2005 with one fiber optic network in Greencastle, Indiana, and has since grown to serving and constructing networks in more than 100 communities across Indiana, Illinois, Iowa, Kentucky, Michigan, Minnesota, Ohio, Florida, and North Carolina. MetroNet is committed to bringing state-of- the-art telecommunication services to communities — services that are comparable or superior to those offered in large metropolitan areas. MetroNet has been named in the top 50 small and medium companies on Glassdoor and has been honored with a Glassdoor Employees’ Choice Award recognizing MetroNet among the Best Places to Work in 2020. For more information visit www.MetroNetinc.com.

About Oak Hill Capital
Oak Hill Capital is a private equity firm managing funds with over $16 billion of initial capital commitments and co-investments since inception. Over the past 35 years, Oak Hill Capital and its predecessors have invested in approximately 100 private equity transactions across broad segments of the U.S. and global economies. Oak Hill Capital applies an industry-focused, theme-based approach to investing in the following sectors: Services, Industrials, Media & Communications, and Consumer. Oak Hill works actively in partnership with management to implement strategic and operational initiatives to create franchise value. For more information, please visit: www.oakhill.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media contact for MetroNet:
Keith Leonhardt
812-213-1016
www.MetronetInc.com

Media Contact for Oak Hill:
Dawn Dover
Kekst CNC
917-349-5621
dawn.dover@kekstcnc.com

Media Contact for KKR:
Cara Major or Miles Radcliffe-Trenner
media@kkr.com

SOURCE MetroNet

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Archive-IT partners with investor FIELDS group for future growth

Fields Group

Reuver, April 2021 – The Dutch investor FIELDS Group, together with Paul de Meulemeester, acquired the established archiving specialist Archive-IT from successful entrepreneur Joan Westendorff. Sitting COO Paul de Meulemeester will remain with the company as CEO and will further support Archive-IT with its international expansion plans.

Archive-IT is one the Netherlands’ largest independent archiving specialists. The company offers a broad portfolio of services and software for the digitization and archiving of physical and digital data. Archive-IT is active in the Dutch, Belgian, French and German markets and offers archiving services and solutions to hospitals, governments, law firms and multinationals.

In the next few years, Archive-IT expects to grow primarily in its international markets: “We see a strong market transition in France and Germany towards digitization and outsourcing of archives. Through our quickly expanding French operation and a brand-new archiving location in Germany we are perfectly positioned to capitalize on these trends” says Paul de Meulemeester. There are also many opportunities in the Dutch and Belgian market: “In the Netherlands we expect our new software developments in the domain of digital archiving and innovative services in the field of enrichment of unstructured data (“data vitalization”) to create further value for our clients. In parallel we notice an increasing appetite in Belgium for digital archiving solutions”

Joan Westendorff, who founded the company in 2004 using his experience from Jalema, a well-known producer of archiving folders and other archiving and office supplies, proudly steps back from Archive-IT: “I have greatly enjoyed experiencing how Archive-IT has developed into an independent and distinctive player in the archiving market, with an international footprint. Now the time has come to pass the torch. I will close the chapter Archive-IT (known formerly as I-FourC) and start a new chapter. My next chapter will focus on real estate, philanthropy and helping entrepreneurs found new companies. I will remain connected to Archive-IT through the development and financing of the new archiving location near the German border in Bruggen-Bracht.”

Besides organic growth, potential acquisitions are also being considered to accelerate the company’s growth. Rutger Alberink of FIELDS Group: “Especially in Germany and France, we see a fragmented market of archiving specialists. In the case of an acquisition, we expect Archive-IT’s unique software and data services to directly create added value for the clients in the acquired company’s client portfolio.”

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Eurazeo launches the EURAZEO sustainable Maritime Infrastructure Thematic Fund

Eurazeo

Eurazeo is delighted to announce the launch of the Sustainable Maritime Infrastructure thematic fund (the Fund) to finance more environmentally friendly infrastructure and technologies in the maritime sector that support the transition to a low carbon economy. As a consequence, the fund will have the objective of pursuing sustainable development within the meaning of Article 9 of Regulation (EU) 2019/2088 (known as the “Disclosure Regulation”) and will participate directly in the deployment of O+, the Group’s ambitious ESG strategy – one of the pillars of which is the achievement of net carbon neutrality by 2040.

Currently, 90% of the world’s goods are transported by sea. Therefore, the decarbonisation of the maritime sector is crucial to the fight against climate change. To meet this challenge, the Fund will mainly finance three types of infrastructure: ships equipped with advanced technologies that negate or curtail environmental harm, innovative harbor equipment, and assets that contribute to the development of offshore renewable energy.
The Fund will support around fifty European facilities that will back the transition of the maritime economy to become carbon neutral by 2050 and in line with the ambition announced in the European Green Deal. Several renowned sovereign and institutional investors have already confirmed their involvement in the Fund, which has a target size of €300M.

The Fund, which will be managed by Idinvest Partners, offers investors with a limited risk appetite a highly desirable solution thanks to its asset financing operations, which will generate quarterly distributions from rents received on maritime assets. The Fund will directly own these maritime assets to further limit risk. As such, the Fund will benefit from Solvency Capital Requirement of less than 10%.
Since January 1 2020, shipping companies must significantly reduce their emissions under the International Maritime Organisation’s (IMO) new regulation on the reduction of the sulphur content of fuels (to 0.5% from 3.5%). This regulation is part of the IMO’s worldwide strategy and aims to reduce the shipping industry’s total greenhouse gas (GHG) emissions by at least 50% by 2050, relative to 2008 levels. The Fund will contribute to the reduction of GHGs as well as sulphur oxides (Sox) and nitrogen oxides (NOx) emissions, which are particularly harmful to air quality.

Christophe Bavière, member of Eurazeo’s Executive Board
Eurazeo is particularly proud to present to its investors a solution that meets Article 9 criteria. Many investors are in search for an investment program that has a concrete impact in the decarbonisation and the ecological transition. Eurazeo Sustainable Maritime Infrastructure thematic fund distinguishes itself by a reinforced protection of the capital.
Our new fund is a financing tool that will contribute to the reduction of greenhouse gas and sulphur, reduction measured audited by independent experts, then communicated to our investors. Its implementation, the process of which has been evaluated with full transparency by independent organisations, underlines our aims and ambitions to deploy meaningful funds that provide a response to the environmental and climatic challenges of our time.

Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in over 450 companies. With its considerable private equity, real estate

EURAZEO CONTACTS PRESS CONTACT
PIERRE BERNARDIN
HEAD OF INVESTOR RELATIONS
mail : pbernardin@eurazeo.com
Tél : +33 (0)1 44 15 16 76

VIRGINIE CHRISTNACHT
HEAD OF COMMUNICATIONS
mail: vchristnacht@eurazeo.com
Tel: +33 1 44 15 76 44

MAITLAND/amo
DAVID STURKEN
mail:dsturken@maitland.co.uk
Tel: +44 ( 7990 595 913

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Audax Private Equity Completes the Sale of Corsearch to Astorg

Audax Group

Audax Private Equity (“Audax”) today announced that it has successfully completed the sale of Corsearch to Astorg.

Corsearch provides innovative Brand Risk and Performance™ solutions to law firms and enterprise customers. Corsearch’s suite of software and services supports a brand owners’ creation and protection of intellectual property assets using innovative IP clearance tools and online brand protection including counterfeit and piracy solutions. Corsearch has more than 800 employees across Europe, North America and Asia and serves over 5,000 clients around the world including many of the world’s Fortune 100 companies.

Since being acquired by Audax in 2018, Corsearch has undergone a period of transformation, growth, and success:

Completed the carve-out from Wolters Kluwer, invested in new technology infrastructure and streamlined global operations
Completed eight add-on acquisitions globally which expanded the company’s product offerings, added new customers, and vertically integrated key functions
Invested in technology and research & development capabilities to support new product innovation
Tim Mack, Managing Director at Audax, said, “We’re incredibly proud of our partnership with the Corsearch team, their strategic transformation, and consistent customer focus. Over the course of our investment, Corsearch further expanded in online brand protection with cutting-edge solutions that are transforming how companies commercialize and protect their growth. We’re excited to retain a minority investment in Corsearch, and wish the team continued success with Astorg’s support.”

Tobias Hartmann, Chief Executive Officer of Corsearch, commented, “Audax has been an instrumental partner over the last three years, especially following Corsearch’s spin off from Wolters Kluwer into an independent, standalone company. The Audax team leveraged their deep investment expertise, global resources, and operational experience to accelerate our growth plans while enhancing our ability to meet the evolving needs of our global customer base. We thank them for their partnership and look forward to embarking on our next phase of growth with Astorg.”

Harris Williams & Goldman Sachs & Co. LLC served as financial advisors and Kirkland & Ellis served as legal advisor to Corsearch.

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Third largest European plant based producer Vivera acquired by JBS S.A.

Gilde Buy Out
April 19, 2021 Purchase of Vivera, Europe’s third-largest plant-based protein producer thrusts JBS into the plant protein market; the €341 million deal includes 3 manufacturing units and a research and development center in The Netherlands.
São Paulo – JBS, the world’s largest protein company and second-largest food producer, has entered into an agreement to purchase Vivera, Europe’s third-largest plant-based food produced, for an enterprise value of €341 million. Vivera develops and produces a broad range of innovative plant-based meat replacement products for major retailers in over 25 countries across Europe, with relevant marketshare in The Netherlands, the United Kingdom and Germany. The deal includes three manufacturing units and a research and development center located in The Netherlands.
The acquisition of Vivera strengthens and boosts JBS’ global plant-based products platform. Strong growth is expected in this category throughout global markets. The deal will add a brand to JBS’ portfolio that is well-established in consumer preference, strengthening the Company’s focus on value-added products.
Vivera, currently the largest independent plant-based company in Europe, will join other JBS initiatives such as Seara’s, Incrível range, a market leader in plant-based hamburgers, and Planterra, with the OZO brand in the United States.
“This acquisition is an important step to strengthen our global plant-based protein platform”, said Gilberto Tomazoni, Global CEO of JBS. “Vivera will give JBS a stronghold in the plant-based sector, with technological knowledge and capacity for innovation”.
To nurture its entrepreneurial spirit JBS plans to manage Vivera as a standalone business unit with its current leadership team to remain in place. “Joining forces with JBS gives us access to significant resources and capabilities to accelerate our current strong growth trajectory and Vivera brand expansion”, said Willem van Weede, CEO, Vivera.
The deal was approved by the JBS board of directors and will be concluded after approval by the antitrust authorities. full details Read more at: https://gilde.com/news/2021/third-largest-european-plant-based-producer-vivera-acquired-by-jbs

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Divestment of Grand Group and the Grand Hôtel property to FAM

Investor
2021-04-19 08:15

Patricia Industries, a part of Investor AB, and its subsidiary Vectura, have agreed to divest Grand Group and the Grand Hôtel property, respectively, to FAM AB. The transaction includes the hotel operations Grand Hôtel, Lydmar Hotel and The Sparrow Hotel, all located in Stockholm, as well as the Grand Hôtel property.

The total transaction value amounts to SEK 3.9bn, of which approximately SEK 0.3bn for Grand Group and approximately SEK 3.6bn for the Grand Hôtel property. Net proceeds from the transaction are approximately SEK 1.5bn following Vectura debt amortization.

“The management team has done a great job in developing the Grand Group, further improving its customer offering and efficiency. However, we have concluded that the hotel segment does not fit with our investment priorities. Thus, it is a natural step for us to divest to FAM, a new, capable long-term owner who can further develop the Grand Group. The divestment further sharpens the focus in our portfolio”, comments Investor’s CEO Johan Forssell.

“In FAM we have found a great new home for Grand Group. The divestment frees up resources that we will use to continue to develop Patricia Industries and our existing companies. For Vectura, the divestment of the Grand Hôtel property allows more focus on expanding the core business within community services and office premises”, comments Christian Cederholm, Head of Patricia Industries.

Considering the relationship between Investor and FAM, the transaction has been evaluated by a third party. In this case Investor has engaged EY for a fairness opinion of the transaction. The individual Boards of Directors’ decisions have of course been taken without participation of directors who could be assumed to have a conflict of interest.The transaction is expected to be completed, subject to regulatory approval, during the second quarter 2021.

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.

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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.

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

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IK Investment Partners raises €1.2 billion in three months for third Small Cap fund

ik-investment-partners

IK Investment Partners (“IK” or “the Firm”), a leading Pan-European private equity firm, is pleased to announce that it has closed the IK Small Cap III Fund (“IK Small Cap III” or “the Fund”) at its hard cap with commitments of €1.2 billion. The IK Small Cap III Fund was significantly oversubscribed and allocated exclusively to existing IK platform investors in just three months, having been raised on a fully virtual basis.

The Fund is more than double the size of its €550 million predecessor, IK Small Cap II Fund, and was raised exclusively with the support of existing investors across the IK platform.

IK Small Cap III will continue to employ the same investment strategy focused on growing businesses across IK’s core sectors of Business Services, Healthcare, Consumer and Industrials and will make investments in companies with enterprise values of between €50 million and €150 million. The Fund includes a dedicated Development Capital pool which will focus on investing in smaller companies valued up to €50 million, in line with IK’s original Small Cap I Fund strategy.

IK launched its Small Cap strategy in 2015 and has since made 27 platform investments across two funds. The €277 million IK Small Cap I Fund has realised €425 million of proceeds, including seven full exits at a gross average 3.2x MM and 56% IRR.

IK Small Cap III will continue to support businesses through its active ownership model focused on organic growth, international buy-and-build, professionalisation and operational improvement. The IK Small Cap team of 30 investment professionals located across Amsterdam, Copenhagen, Hamburg, London, Paris and Stockholm will be supported throughout the investment process by IK’s dedicated Operations and Capital Markets teams.

The closing of the Fund follows a period of significant fundraising for IK, which has held a final close on funds with over €4.3 billion of commitments in the last 12 months, reflecting continued investor confidence and support despite the ongoing pandemic. This included the €2.85 billion raised for IK’s ninth Mid Cap fund, the IK IX Fund, in May 2020 and more recently the €303 million final close for IK’s Partnership Fund, a vehicle dedicated to making minority investments in larger, more established businesses.

Kirkland & Ellis International LLP acted as legal counsel to the Fund.

This press release is not an offer of securities for sale in the United States or any other jurisdiction and interests in the Fund may not be offered or sold in the United States or any other jurisdictions save in accordance with applicable law.

Kristian Carlsson Kemppinen, Head of IK’s Small Cap strategy and Managing Partner at IK, said: “Five years after we launched our first Small Cap Fund, we continue to see significant opportunities in high-potential European companies at the lower end of the mid-market. Despite the challenges we have seen throughout the pandemic, IK’s strategy has remained resilient and we are delighted with the continued support from our investors. With our Investment and Operations Teams based on the ground across all our key markets, we are ideally placed to support the transformation of local champions into European and international leaders.”

Pierre Gallix, Head of IK’s Development Capital strategy and Managing Partner at IK, said: “There continue to be a large number of opportunities at the lower end of the small cap market where we see significant potential for IK to support management teams in unlocking potential and realising growth. We have already identified a pipeline of future market leaders who we can support with our capital and expertise as they look to scale up and expand.”

For further questions, please contact:

IK Investment Partners

Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

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 €14 billion of capital and invested in 145 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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