Category Archives: News

Tosca to acquire Contraload NV

Apax

29 June 2020

Acquisition expands Tosca’s capabilities to service entire supply chain – first mile through last mile delivery
Addition of Contraload will enhance Tosca’s geographic and product diversification

Atlanta, Georgia, June 29, 2020 – Tosca, an innovator in reusable packaging and supply chain solutions, announced today that it has agreed to acquire Contraload NV, a leader in plastic pallet pooling in the United Kingdom and European Union.

The acquisition of Contraload will expand Tosca’s geographic reach and increase its product portfolio. The combined company will offer customers a stronger value proposition through increased network density and an expanded product offering.

In conjunction with the transaction, funds advised by Apax Partners (the “Apax Funds”), which acquired Tosca in 2017, will commit additional capital to Tosca to fund the acquisition of Contraload. Terms of the transaction were not disclosed.

Tosca has a 60-year history of innovation that has driven its growth into a leading North American provider of reusable packaging and supply chain solutions across a wide array of markets. Today, the company is the largest RPC pooler in North America, offering an enhanced product portfolio and the most extensive service center network for grocery retailers and suppliers. It employs more than 1,236 people and operates 29 service centers worldwide.

Headquartered in Aartselaar, Belgium, Contraload is a leading provider of upstream reusable plastic pallets and containers for the FMCG industry and other commercial markets in Europe. The company, which runs a unique Pan-European pooling service and employs more than 150 people, also offers outsourced pallet and layerpad conditioning and management services for customer-owned asset pools. Contraload was founded in 2004 and has approximately 3 million units in use, serving close to 3,000 companies.

Eric Frank, CEO of Tosca, stated: “Tosca’s acquisition of Contraload, a leader in plastic pallet pooling in the United Kingdom and European Union, establishes our combined company as an even stronger partner for our customers globally and allows us to continue to propel the reusable revolution.”

Jesse Sels, Contraload’s Founder and Managing Director, said, “Having built Contraload into the leader in pooling plastic pallets, layerpads and IBCs in the B2B environment across Europe, we are excited to join with the Tosca team through this transaction. Our companies have a shared commitment to service excellence, innovation and reducing waste throughout the supply chain.”

Ashish Karandikar, Partner at Apax Partners, said: “Three years ago, we partnered with Tosca’s management team to build a world-class pooling business that brings sustainability, innovation and value to customers’ supply chains. The acquisition of Polymer in 2019 established Tosca’s ‘last mile’ capabilities in Europe. The combination with Contraload represents another important advance as it brings together Tosca’s last mile capabilities with Contraload’s offerings in the ‘first mile’ of a product journey – thereby creating unique visibility and value for customers. The combined organization offers a strong global network, an expanding reusables portfolio, improved research and development, and custom capability for all customers from CPGs to grocery chains.”

About Tosca 

Tosca is a leading provider of reusable packaging and supply chain solutions across a diverse range of markets including eggs, case-ready meat, poultry, produce, seafood, and cheese. Our proven RPC system is a smarter way to move fresh product safely from source to shelf, substantially reducing shrink and labor cost, maintaining product quality, and optimizing overall supply chain efficiency for retailers, growers, and suppliers. Tosca recently acquired Polymer Logistics, expanding our geographic reach, product portfolio and R&D capabilities. For more information visit: www.toscaltd.com.

About Contraload

Contraload has grown to become the expert and market leader in pooling load carriers in a B2B environment, across Europe with service centers to support customers in over 15 countries.  Markets include food ingredients, food packaging, hygiene products, infant nutrition, beverage can and non-hazardous liquids.  Re-use is the key word as Contraload facilitates moving away from single use packaging towards a circular model of returning re-usable packaging.  For more information visit: www.contraload.com.

About Apax Partners 

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts

For Tosca
Susan Heil, Tosca I +1 920 569 5335 I sheil@toscaltd.com

For Contraload
Kevin Boone, +32 3 304 92 90, Kevin.Boone@contraload.com

For Apax Partners
USA Media: Todd Fogarty, Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com
UK and Global Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

Categories: News

TIM and Ardian reach agreement over investment in INWIT S.p.A

Ardian

TIM S.p.A. (“TIM”) and Ardian, a leading global private investment company, have today reached an agreement for a consortium of institutional investors led by Ardian (“Consortium”) to invest in a newly formed holding company (the “Holding Company”) in which will be transferred a 30.2% share of the cocontrolling stake in Infrastructure Wireless Italiane SpA (“INWIT”), currently held by TIM.

TIM has also reached an agreement with a vehicle managed and advised by Canson Capital Partners (Guernsey) Limited (“Canson”) whereby Canson will acquire a direct stake in INWIT of up to 3% of its share capital, based on the same INWIT share price used in the sale to the Consortium.

On completion of the transaction, the Consortium will hold a 49% stake in the capital of the Holding Company. The transactions are based on an INWIT share price of €9.47 (ex dividend) with implied proceeds for TIM of €1.6 billion.

On completion of the transactions, TIM will have full and exclusive control of the Holding Company and, through it, will continue to exercise joint control over INWIT together with Vodafone Europe B.V. Consortium will have minority governance rights over the Holding Company and INWIT, with a view to protecting its investment and as per standard procedure in transactions of this nature.

The Holding Company will replace TIM, for the portion of INWIT shares held, in the existing shareholders’ agreement between TIM and Vodafone Europe B.V., under which TIM and Vodafone Europe B.V. jointly control INWIT.

Completion of the transaction is subject to a number of conditions being met by September 30, 2020, including authorisation under the Golden Power regulations and confirmation from Consob, Italy’s stock market regulator, of there being no requirement to make a mandatory offer.

 

About TIM

TIM is one of the top Information & Communication Technology companies in Europe and the market leader in Italy. It offers
its customers fixed and mobile telecommunications, internet, premium digital entertainment content – through TIMvision,
TIMmusic and TIMgames – and advanced cloud-based platforms. All with flexible and customisable offers to meet the
needs of families and businesses, on platforms accessible from a range of devices.
TIM is included in the major international sustainability indexes and is committed to becoming the leading telco in the
Eurozone in terms of sustainability and social responsibility.
The Group includes TIM Brasil, one of the leading players on the Brazilian market; Sparkle, an international carrier and one
of the top ten telecommunication service providers in the world, with a 530,000 km network extending across Europe, Africa
and Asia; Olivetti, which operates in key sectors such as the Internet of Things and offering cutting-edge hardwares and
softwares.

 

About ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn 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 670 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 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds,
Infrastructure, Real Estate and Private Debt.

ardian.com

 

About Canson Capital Partners

Canson Capital Partners is a leading alternative capital-focused Advisory and Merchant Banking firm. Providing senior advice
and principal-to-principal engagement, the team seeks to connect sources of alternative capital with specific opportunities,
enabling clients to achieve their long-term strategic objectives. Since 2017, Canson Capital Partners has advised on private
equity-related transactions with an aggregate transaction value of over $54 billion. Canson Capital Partners is the trading
name of Canson Ltd, which is authorised and regulated by the Financial Conduct Authority.

cansoncp.com

Press contact

TIM Press Office

https://www.telecomitalia.com/media

+39 06 3688 2610

Press contact

Ardian – IMAGE BUILDING

Cristina Fossati, Luisella Murtas

ardian@imagebuilding.it Tel: +39 02 8901 1300

Press contact

Canson Capital Partners – Greenbrook Communications

Gina Bell / Matthew Goodman

canson@greenbrookpr.com

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Astorg to acquire Normec Group from Summit Partners

Astorg

Astorg is pleased to announce that it has signed a definitive agreement in partnership with management to acquire Normec Group (“Normec” or the “Group”), a leading provider of testing, inspection, certification and compliance services headquartered in the Netherlands, from global growth equity investor Summit Partners.

Normec was founded in 2016 and today employs a team of more than 900 across the Benelux region and Germany. The Group specialises in testing, inspection and certification services in the foodcare and life, safety & environment markets. Since its inception, Normec has accelerated the execution of its strategy to become a Top 3 player in its markets through the acquisition of over 20 leading specialist providers.

Joep Bruins, CEO and founder of Normec, said: “We are delighted that Astorg has chosen to partner with Normec. Astorg has a strong track record of investing in and supporting the growth of founder-led companies. We are very proud of what we have achieved in such a short timespan since our founding, and we are appreciative of the support we have received from Summit Partners. We are excited to work together with Astorg to continue to strengthen and build out the Normec value proposition for our clients.”

François de Mitry, Managing Partner at Astorg, commented: “Over the past years, we have spent significant time reviewing the testing, inspection and certification space through which we have identified Normec. Normec’s leading position in its highly attractive core markets is a strong fit with Astorg’s investment strategy, and we are very excited to support Normec’s international expansion.” Nicolas Marien and Benjamin Cordonnier, Directors at Astorg added: “Normec has an impressive track record of delivering consistent growth through outstanding quality of service. We have already identified promising future M&A opportunities to actively work on with the management team led by Joep.”

Christian Strain, Managing Director at Summit Partners said: “It has been a privilege to work in partnership with the Normec team. Since Summit’s investment in 2017, the Group has executed its organic and acquisition-driven growth strategy and created a leading pan-European testing, inspection and certification services provider.” Johannes Grefe, Principal at Summit Partners, added: “The Normec management team has delivered strong growth over the last several years. We look forward to seeing the Group build upon this strength in the future.” Mr. Strain and Mr. Grefe led Summit Partners’ 2017 investment in Normec and have served on the Group’s board of directors since that time.

The transaction is expected to close in the third quarter of 2020 and is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed. Normec was advised by Jefferies and the management team of Normec was advised by ING.

Press contacts:

Astorg

Stéphanie Tabouis
Publicis Consultants
Tel: +33 6 03 84 05 03
e-mail: stephanie.tabouis@publicisconsultants.com

Summit Partners

Meg Devine
Tel: +1 617 824 1047
e-mail: mdevine@summitpartners.com

About Normec:

Normec is the holding company of the Normec Group. Normec is active in the field of testing, inspecting, certification and compliance mainly in the Netherlands, Belgium and Germany. Normec assesses and supports the quality and safety of materials, systems and products by conducting independent audits, tests and inspections based on accredited methods. As an independent organisation, the work of Normec includes taking care of the quality and safety of their clients’ materials, systems and products. With intelligent, thorough and independent research and reporting, Normec combines professional expertise with excellent IT-driven services to provide value added services to their clients. In doing so, Normec ensures the sustainable improvement of companies or institutions. Normec operates in the Life Safety & Environment and Food & Agriculture segments. For further information about Normec: www.normecgroup.com.

About Astorg:

Astorg is a leading independent private equity firm with over €8 billion of assets under management. Astorg seeks to partner with entrepreneurial management teams to acquire market leading global companies headquartered in Western Europe and North America, working together to create value through the provision of strategic guidance, experienced governance, and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Though not specialised, Astorg has gathered valuable industry expertise in software, healthcare, business-to-business professional services, and technology-based industrial companies. Astorg has offices in London, Paris, Luxembourg, Frankfurt and Milan. For further information about Astorg: www.astorg.com.

About Summit Partners:

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $21 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors and has invested in more than 500 companies in technology, healthcare and other growth industries. These companies have completed more than 140 public equity offerings, and more than 200 have been acquired through strategic mergers and sales. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.

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bp invests $5 million in geospatial analytics company Satelytics

BP Ventures

  • Firm uses machine learning and spectral imagery to monitor environment.
  • Technology combines data from satellites, drones and planes.
  • Part of bp’s strategy to deploy a suite of complementary methane detecting techniques across new and existing facilities.

bp ventures invests in Satelytics

bp ventures has invested $5 million in Satelytics, a cloud-based geospatial analytics software company that uses advanced spectral imagery and machine learning to monitor environmental changes, including methane emissions.

 

Satelytics collects high resolution spectral imagery from the planet’s surface using satellites, drones, and planes. Its technology combines these images with proprietary algorithms to create unique electromagnetic signatures that can be used to detect environmental changes, including releases or leaks. Its software visualises these data sets on interactive displays that give end-users a clear and actionable picture of operations, and alert them to facility risks, like methane leaks.

 

bp’s $5 million investment will enable Satelytics to develop its technology further and scale its applications throughout the oil and gas sector. Use of the technology has the potential to be part of bp’s aim to install methane measurement at all major oil and gas processing sites by 2023, publish the data and then drive a 50% reduction in methane intensity of its operations.

 

Morag Watson, bp senior vice president of digital science and engineering, said: “Satelytics is modernising the energy sector by making data about physical assets more accessible and digestible, leading to better decision making. We are excited to work closely alongside their unique team of scientists and technologists to help them evolve their technology and to continue to move the needle on industry digitalisation.”

 

Sean Donegan, chief executive of Satelytics, said: “bp’s early use of our detection and quantification software has inspired us to expand our capabilities. bp’s investment marks an inflexion point for Satelytics, which will assist us in expanding our technological capabilities and fuel future innovation.”

 

Through its venturing business, bp is making strategic investments in innovative, game-changing technologies and businesses that can help it reimagine the global energy system.

 

David Hayes, bp ventures managing director for the Americas and chief operating officer, said: “Earlier this year we announced our ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero. As part of our ambition, one of our 10 aims relates to methane measurement at all of our major oil and gas processing sites by 2023 and reducing methane intensity of our operations by 50%. Advanced technologies such as Satelytics, integrating multiple approaches to efficiently detect emissions, have the potential to be a valuable tool that can support this work.”

Notes to editors

About Satelytics:

 

  • Satelytics Inc., is a cloud-based geospatial analytics software suite.
  • Multi or hyper-spectral imagery is gathered from satellites, UAV, planes, and fixed cameras, and processed to provide both alerts and qualitative results for our customers.
  • Data can be gathered on up to a daily basis and results sent to customers in hours.
  • This includes the specific problem, location, magnitude, and even qualitative information, which minimize cost, impact, and operational disruption for clients.

About bp ventures:

 

  • bp ventures was set up more than 10 years ago to identify and invest in private, high growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. Since then, bp has invested almost $700 million in technology companies across more than 31 active investments with more than 250 co-investors.
  • Venturing plays a key role in bp’s strategy to tackle the dual challenge of meeting the world’s need for more energy, while at the same time reducing carbon emissions.
  • bp ventures focuses on connecting and growing new energy business. It makes strategic equity investments across a portfolio of relevant technology businesses including advanced mobility, low carbon and digital.
  • For more information visit: bp.com/ventures.
  • Shaun Healey, bp ventures Principal, will take up a director seat on the board of Satelytics.

Further information

Contacts

bp press office, London: +44 (0)20 7496 4076, bppress@bp.com

Kekst CNC, London: +44 (0)20 3755 1630, bpventures@kekstcnc.com

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CVC Credit Partners backs Calibre Scientific’s next phase of growth

Funding by CVC Credit Partners will support the business’s buy-and-build growth strategy

CVC Credit Partners (“CVC Credit”) is pleased to announce that it has provided a $92 million multicurrency first lien credit facility to Calibre Scientific, the life sciences and diagnostics business owned by StoneCalibre. Funding provided by CVC Credit will be used to refinance the existing debt facility and to support the company’s global acquisition strategy. Baird Global Investment Banking served as the exclusive debt advisor for the transaction.

Founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life sciences and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific’s 6,000+ customers include blue-chip biopharmaceutical companies, leading academic institutions and diagnostics companies.

Dr. Benjamin Travis, CEO of Calibre Scientific, commented: “We are happy to have completed the refinancing of the business and secured financing to continue to execute our acquisition growth strategy. This strong foundation will allow us to progress with our next phase of development.”

Brian Wall, Founder and CEO of StoneCalibre, added: “We are pleased to bring CVC Credit Partners onboard. Their ability to quickly understand the dynamics of the market and Calibre Scientific’s operating model was impressive, while their experience in supporting international growth strategies convinced us that they will have a key role to play going forward.”

Andrew Eversfield, Director of CVC Credit Partners’ U.S. Private Debt business, said: “We’re excited to support a company delivering high societal impact and one whose mission is as critical as ever. Calibre Scientific is an established player in a growing market. It has a broad portfolio of leading brands and a loyal and highly diverse customer base. We look forward to partnering with StoneCalibre and helping to write future chapters of the Calibre Scientific story.”

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Evernex announces the acquisition of Technogroup and creates a global leader in data centre equipment maintenance

3I

3i-backed Evernex, a global international provider of third-party maintenance (“TPM”) services for data centre infrastructure in which 3i invested in October 2019, announces the acquisition of Technogroup, the leading TPM player in the DACH region.

As part of the transaction, Technogroup’s management and its shareholder Vitruvian Partners, a leading growth equity firm with a global presence, will roll over a significant investment into the combined group. 3i will invest €47m of additional capital to finance the transaction, with Evernex’s management team also reinvesting €2m. The transaction remains subject to clearance from the relevant antitrust authorities.

Headquartered in Hochheim, near Frankfurt, Germany, Technogroup was founded in 1990 and is the leading TPM player in the DACH region and Poland, with strong brand recognition, best-in-class service, valued expertise in data centre maintenance and value-add services for data centres. The company serves over 5,200 customers with 290 employees and over 50 service centres in Germany, Austria, Switzerland and Poland. Technogroup has quadrupled in size over the past ten years through a mix of organic growth and acquisitions.

With Technogroup, Evernex reinforces its presence in the DACH and Central Europe with a highly reputable team. The combined group will be uniquely positioned to assist its customers providing a single point of contact on a truly global basis in data centre maintenance services, with an especially strong footprint across Europe, Latin America and MEA.

Rémi Carnimolla, Partner, at 3i France: “With the acquisition of Technogroup, Evernex reinforces its status as a successful consolidation platform. This is already the second acquisition since October 2019 following Storex in South Africa four months ago.”

Frédéric Chiche, Director, and Marc Ohayon, Associate Director: “In the context of the COVID19 pandemic and tight lockdowns in both France and Germany, we are proud of having achieved this transaction. It is a significant step up to leadership in the sector and a transformative event in the TPM space.”

Stanislas Pilot, President and CEO of Evernex: “This combination offers fantastic growth prospects. Thanks to the backing of the 3i balance sheet and the strong performance of Evernex during the current pandemic, confirming the high resilience of the company’s business, and to Vitruvian Partners’ significant rollover alongside us, the new group will have unique capabilities to enter new markets and better serve its international clients and OEM partners. We are excited to welcome the Technogroup team to the Evernex family and we are confident in both teams’ commitment to excellence in building a solidly integrated group, providing best-in-class services for our customers.”

Torsten Winkler, Partner, and Fabian Wasmus, Partner, at Vitruvian: “When Vitruvian invested in Technogroup in December 2017, the business had great fundamentals and double-digit growth. With our backing, the company established itself as one of the European champions in TPM services, notably with three acquisitions that expanded the group’s geographic presence and equipment expertise. We are convinced that joining forces with Evernex will bring tremendous value to both companies and help build a true global leader.”

Klaus Stöckert, CEO of Technogroup: “The fit between Technogroup and Evernex is strong, both in terms of strategic sense and common DNA between our teams. We are aligned in the strategic ambition to be the single point of contact for our customers and partners. By joining forces, we will be able to assist our customers in more geographies thanks to Evernex’s global footprint and by offering more equipment expertise. Our teams have known each other for years. We are excited by this opportunity to join Evernex and to do much more together in the same group.”

3i invested in Evernex in October 2019. Headquartered in Paris, France, Evernex maintains over 200,000 IT systems in c. 160 countries, and has a global network of 34 offices. It is the preferred maintenance partner for multinational companies and has developed a multi-channel and multi-vendor flexible offering. In March 2020, Evernex acquired Storex, a South African provider of maintenance services for critical data centre equipment, thus reinforcing its leadership in MEA.

-Ends-

Download the press release  

 

For further information, contact: 

3i Group plc

Silvia Santoro

Investor enquiries

 Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com
Kathryn van der Kroft

Media enquiries

 Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

Notes to editors:

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries.

For further information, please visit: www.3i.com

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

evernex-logo.png

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KKR to Acquire Roompot Group from PAI Partners

KKR

LONDON–(BUSINESS WIRE)–Jun. 18, 2020– KKR, a leading global investment firm, today announces an agreement to acquire Roompot Group, a provider of holiday parks in Western Europe and #1 operator in the Netherlands, from leading European private equity firm PAI Partners. The transaction is subject to customary closing conditions, having already received positive works council advice. Financial terms are not disclosed.

Founded in 1965 in the region of Zeeland (the Netherlands), Roompot has progressively developed to become a leading holiday parks operator in Europe. The business directly owns and operates 33 parks in the Netherlands, Germany and Belgium, and works exclusively with more than 100 third-party park operators to support their booking and distribution efforts and provide development, design and refurbishment services.

Under PAI’s ownership, Roompot has invested significantly in upgrading and expanding its accommodations and opening new parks, developed a strong digital marketing and distribution platform, increased real estate ownership and grown revenue and EBITDA at double digit growth rates. The company now welcomes three million guests and 13 million overnight stays each year, generating revenues of almost EUR 400 million. PAI’s ownership of Roompot continued its strong track record of supporting the growth of consumer companies worldwide, including in the leisure sector with B&B Hotels most recently, and in the Netherlands where it is currently invested in Wessanen, a leading European healthy and sustainable foods company, and Refresco, a leading international bottler of beverages.

KKR will continue to support Roompot’s current management team with its further development into a leading pan-European operator, driven by supportive structural trends around domestic tourism. The investment continues KKR’s track record in the Netherlands with major recent investments including Upfield (formerly Unilever’s Spreads business), Exact Software (a leading provider of accounting software to SMBs) and Q-Park (a pan-European parking services provider).

Jurgen van Cutsem, CEO of Roompot Group, said: “As we change to new ownership we would like to thank PAI, who have been a hugely supportive partner to our team since 2016, and welcome KKR for the next phase. Our focus, as always, will be providing a great service for our leisure customers and third-party providers. We continue to see growing demand from our guests and from our corporate partners due to the leading platform we have put in place, providing a solid foundation to scale the business, also on an international level.”

Daan Knottenbelt, Partner and Head of the Benelux region at KKR, said: “Roompot is already a leading player in the region with a best-in-class management team and a strong recent track record. We see significant further growth potential based on a very strong development pipeline, continued expansion of Roompot’s owned assets and new corporate partnerships. KKR is investing in Roompot through our Core Investments strategy, which is our pool of capital for longer-term investments, and we look forward to working with Jurgen and his team over the coming years.” Joerg Metzner, Director at KKR, added that “We have been looking for a platform to invest behind in the fragmented European holiday parks market for some time. Our support for Roompot and its management team fits perfectly with our broader investment theme in the leisure space.”

Gaëlle d’Engremont, Partner and Head of Food & Consumer at PAI Partners, said: “PAI has accompanied Roompot through an exciting transformation journey since 2016. Roompot has significantly reinforced its offer and its leadership in the Dutch holiday park sector over the past four years under the leadership of Jurgen. We are delighted that KKR will support the strong ambitions of the team to continue this successful trajectory.”

KKR is making its investment through its Core Investments strategy, which represents capital targeting longer-term opportunities. Recent European investments through this strategy include the acquisition of Exact Software in the Netherlands in 2019.

About Roompot
Roompot is the second-largest operator and provider of holiday parks in Europe and a regional market leader in the Netherlands, with a strong and expanding position on the coastal regions. More than 2100 employees are motivated to let 3 million guests enjoy a well-earned vacation each year, representing 13 million overnight stays in Roompot’s 17,000 holiday accommodations. In total Roompot has more than 150 holiday parks in Denmark, the Netherlands, Germany, Belgium, France and Spain in its portfolio, from premium resorts to comfortable parks and pleasing campsites. www.roompot.com

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About PAI Partners
PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. It manages €13.6 billion of dedicated buyout funds and, since 1994, has completed 74 transactions in 11 countries, representing over €50 billion in transaction value. PAI Partners is characterised by its industrial approach to ownership combined with its sector-based organisation. It provides the companies it owns with the financial and strategic support required to pursue their development and enhance strategic value creation. www.paipartners.com

Media Contacts
KKR: international
Alastair Elwen / Alice Neave
Finsbury
+44 (0) 20 7251 3801 or kkr@finsbury.com

KKR: Netherlands
Corina Holla
Meines Holla & Partners
+31 (0)70 362 25 52 or corinaholla@meinesholla.nl

PAI Partners
Head of Communications: Matthieu Roussellier
+44 20 7297 4674
Greenbrook Communications: James Madsen / Fanni Bodri
+44 20 7952 2000

Roompot
PR & Corporate Communications: Baptiste van Outryve
+31 6 30 94 78 24

Source: KKR

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EQT concludes strategic review of Credit business segment with sale to Bridgepoint

eqt

EQT AB (“EQT”) today announced that following the review of future strategic options for the business
segment Credit (“Credit”), a definitive agreement has been reached to sell the Credit business to
Bridgepoint (the “Transaction”). Despite the difficult market environment, there was considerable
interest in the business. The sale ensures that Credit gets a new owner able to support its growth
prospects and permits EQT to further focus its efforts on building scalable value-add strategies
focused on active ownership.

Established in 2008, Credit is the smallest of EQT’s three business segments with approximately EUR
4 billion of assets under management (“AUM”) as of 31 December 2019 in three complementary
strategies: Special Situations, Direct Lending and Senior Debt. This represented around ten percent of
EQT’s total AUM. The Credit business segment had total revenues of EUR 35.8 million and a gross
segment result of EUR 12.3 million in the financial year ended 31 December 2019. The business
segment employs approximately 40 professionals, including five Partners. Since inception, Credit has
raised over EUR 7 billion of capital and invested in over 180 companies.

Christian Sinding, CEO of EQT AB, said: “This is an important step on our path of focusing on
investment strategies which can fully utilize EQT’s governance and impact ownership model. We are
delighted to have found such a great new home for the Credit business segment and the dedicated
team of credit specialists. Together with Bridgepoint, the Credit platform is well positioned to capture
the future growth prospects and develop its offering even further. I would like to take this opportunity to
thank Andrew Konopelski and the entire Credit team for their contribution to EQT. It has been a great
collaboration over the last 12 years and I wish them well in the next stage of their journey.”

Andrew Konopelski, Head of EQT Credit, continued: “As part of EQT, we have developed a diversified
credit platform capable of investing across the capital structure. We have grown and implemented a
thematic and due-diligence focused investment approach and an operational mindset. The resilience
of the portfolios during these unprecedented times demonstrates the strength of our model as we look
toward the future. We are excited by the considerable opportunities that we see ahead for private
credit. With Bridgepoint as our partner, we will undoubtedly continue our growth path together while
sharing similar values. I would like to thank the entire EQT community for their support over the
years.”

William Jackson, Managing Partner at Bridgepoint, added: “This moves our credit strategy and
ambitions significantly forward and provides further diversification for the Bridgepoint Group in line with
our strategic objective of offering a broader range of compelling middle market focused alternative
asset investment strategies. It will also broaden Bridgepoint Credit’s geographic exposure with an
enhanced presence in the Nordic region, Germany and the US, adding to our existing teams in
London and Paris.”
PRESS RELEASE 18 June 2020
EQT AB (publ)
Regeringsgatan 25
SE-111 53 Stockholm
Sweden Tel: +46 8 506 55 300
VAT number: SE556849418001

The Credit segment will be reported as discontinued operations in the half year report. The
Transaction is not expected to have a material impact on EQT AB’s central functions. The proceeds
are expected to be used to continue to deliver on EQT’s defined growth strategy.
The Transaction is subject to customary closing conditions, including regulatory, anti-trust and certain
fund investor clearances, with completion expected to take place in the fourth quarter of 2020. The
parties have agreed not to disclose the terms of the Transaction. JP Morgan has acted as financial
advisor and Kirkland & Ellis and Travers Smith as legal advisors to EQT on the Transaction.

Contact
Kim Henriksson, CFO, +46 8 506 55 300
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with a 25-year track-record of consistent
investment performance across multiple geographies, sectors, and strategies. EQT has raised more
than EUR 62 billion since inception and currently has around EUR 40 billion in assets under
management across 19 active funds within three business segments – Private Capital, Real Assets
and Credit.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term
ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages
and advises funds and vehicles that invest across the world with the mission to future-proof
companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include
general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has
offices in 17 countries across Europe, Asia Pacific and North America with more than 700 employees.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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Bridgepoint to acquire EQT’s private debt business

Bridgepoint

Bridgepoint, the international alternative asset manager, is to acquire EQT Credit for an undisclosed sum. The acquisition will be combined with Bridgepoint’s existing credit business, with the enlarged group having total AuM of c.€7 billion.

Commenting on the acquisition, Bridgepoint managing partner William Jackson said: “This moves our credit strategy and ambitions significantly forward and provides further diversification for the Bridgepoint Group. This is in line with our strategic objective of offering a broader range of compelling middle market focused alternative asset investment strategies.

“It will also broaden Bridgepoint Credit’s geographic exposure with an enhanced presence in the Nordic region, Germany and the US, adding to our existing teams in London and Paris,” he said.

Established in 2008, EQT Credit has total AuM of €5.6 billion* across its two core strategies of Direct Lending and Special Situations, a team of 27 investment professionals based in London, New York, Munich and Stockholm and employs approximately 40 colleagues in total.

The transaction is subject to regulatory and other consents and is scheduled to complete in the fourth quarter of 2020.

Advisers to Bridgepoint in this transaction included: Rothschild & Co (M&A), PwC (financial & tax dd, structuring), Clifford Chance and Simpson Thacher (legal), Lockton (insurance).

*comprises fee generating AUM and further committed but undrawn capital.

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Payfone raises $100 million led by the Apax Digital Fund

Apax Digital

18 June 2020

Investment will accelerate privacy-first customer identity platform with strategic acquisitions 

New York NY, June 18, 2020: Payfone announced it has raised $100 million to acquire strategic assets, further strengthen its machine learning capabilities, and build a cross-industry consortium to secure digital transactions and experiences. The investment was led by funds advised by Apax Digital, the growth equity team of Apax Partners.

Payfone raises $100 million led by the Apax Digital Fund

Payfone is setting a new standard for digital identity verification and authentication. Its customer identity platform enables the world’s largest financial institutions, healthcare organizations and technology companies to bring speed and security to their onboarding, digital servicing and call center processes.

Payfone’s authentication solutions, including its unique Trust Score™ tool, are built on ten years of proprietary phone intelligence that enable Payfone to anonymously measure a phone number’s reputation and risk with real-time processing of behavioral signals. Payfone’s platform instantly detects burner phones, spoofed calls, real-time SIM swap fraud, and synthetic identities, while removing friction from legitimate transactions. Payfone also provides call verification solutions that run passively in the background of a phone call, allowing faster issue resolution.

Rodger Desai, CEO of Payfone, said, “The mobile phone is rapidly becoming the secure passport for navigating our digital lives. With one in three US consumers already authenticated by Payfone, this investment accelerates our ability to set the standard for the authentication process. As we build out a cross-industry consortium, more enterprises will be able to access Payfone’s real-time fraud and risk signals to prevent account takeovers while passing more transactions.”

Daniel O’Keefe, Managing Partner of Apax Digital said, “Identity is the key enabling technology for the next generation of digital businesses. Payfone’s Trust Score™ is core to the real-time decisioning that enterprises need in order to drive revenue while thwarting fraud and protecting privacy.”

Zach Fuchs, Principal of Apax Digital added, “Payfone’s technology enables frictionless customer experience, while curbing the mounting operating expense caused by manual review.” Concurrent with the investment, Mr. O’Keefe and Mr. Fuchs will join Payfone’s board of directors.

Joining the investment round are new investors Sandbox Insurtech Ventures and Ralph de la Vega, the former Vice Chairman of AT&T. Existing investors MassMutual Ventures, Synchrony, Blue Venture Fund, Wellington Management LLP, and former CEO of LexisNexis Andrew Prozes also participated.

For more information about Payfone’s suite of identity verification and authentication solutions, visit payfone.com.

About Payfone

Payfone is a rapidly growing software and data analytics company based in New York. Payfone’s customer identity platform secures the digital experiences of the banking, insurance, telecommunication, retail, and healthcare industries. Its patented Trust Score™ enables enterprises to pass more digital transactions while thwarting fraud attacks. For the latest updates follow us at https://www.linkedin.com/company/payfone.

About Apax Digital 

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts:

For Payfone
Emily Riley | +1 914-330-1128 | pr@payfone.com

For Apax Digital
USA Media: Todd Fogarty, Kekst CNC | +1 212-521-4854 | todd.fogarty@kekstcnc.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

 

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