Category Archives: News

Audax Private Equity and Linden Capital Partners Invest in StatLab Medical Products

Audax Group

Audax Private Equity (“Audax”) and Linden Capital Partners (“Linden”), two leading middle-market private equity firms, announced today the acquisition of StatLab Medical Products (“StatLab” or the “Company”). Founded in 1976 and headquartered in McKinney, Texas, StatLab is a leading manufacturer and distributor of consumables, reagents, and equipment used by anatomic pathology, molecular diagnostics, and other laboratories.

Joe Bernardo, Operating Partner at Linden, has been appointed Executive Chairman of StatLab and will join the Board of Directors. Mr. Bernardo brings valuable experience to StatLab after spending over 25 years with premier diagnostics organizations, including Thermo Fisher Scientific, Siemens Healthcare, and Abbott Laboratories. “We are delighted to partner with StatLab to build upon its reputation derived from decades of providing high quality products and service. The Company has a unique opportunity to expand its customer base and suite of consumables and equipment offerings over the next several years,” said Mr. Bernardo.

Michael Karsonovich, Operating Advisor at Linden, has been appointed CEO of StatLab and will also join the Board. Mr. Karsonovich has extensive experience across anatomic pathology and diagnostics, having previously held executive positions at Thermo Fisher Scientific in their Fisher HealthCare, Temperature Control and Slides, and Specialty Glass businesses. “I am honored by the opportunity to contribute to this organization and am excited to work with the talented team at StatLab. I also want to thank Dan Eckert for his outstanding leadership of the StatLab team for the last three years,” noted Mr. Karsonovich. “Moreover, I look forward to partnering with Audax and Linden, who share my vision to build upon, invest in, and accelerate the growth of StatLab,” added Mr. Karsonovich.

“StatLab has established itself as a leader in anatomic pathology consumables and a reliable partner to laboratory and OEM customers. Linden’s investment in StatLab builds upon our prior experience in the diagnostics sector, and we look forward to leveraging that experience to support the Company’s next phase of growth,” said Kam Shah, Partner at Linden.

David Wong, Managing Director at Audax, added, “We commend StatLab’s management team on building an extraordinary business, one that has been resilient despite the challenges posed by the COVID-19 pandemic. The Company is now well positioned to continue to grow both organically and through strategic acquisitions.”

In addition to Joe Bernardo and Michael Karsonovich, Gary Knight, Operating Advisor to Audax and former VP of Strategy & Corporate Development at VWR, Brian Miller of Linden and Keith Palumbo of Audax will join StatLab’s Board of Directors. Dan Eckert will remain on the Board.

Ropes & Gray LLP and Kirkland & Ellis LLP served as legal advisors to Audax and Linden, and Cain Brothers, a division of KeyBanc Capital Markets, served as exclusive financial advisor. Robert W. Baird & Co. served as financial advisor to StatLab. Golub Capital provided debt financing for the transaction.

Contacts
Audax Private Equity
David Wong
Managing Director

 

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KKR Expands Real Estate Industrial Portfolio in Phoenix with a New Acquisition

KKR

January 12, 2021

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of a 263,000 square foot industrial distribution property in Goodyear, Arizona. Strategically located in close proximity to the I-10 interstate highway, a major cross-country trucking artery, the property increases KKR’s industrial real estate footprint in the Phoenix, Arizona metropolitan statistical area (MSA) to over two million square feet.

The property is modern fulfillment center completed in 2019 with state of the art physical features including 36’ clear height and was 100% leased at acquisition to high quality tenant on a long-term basis. KKR acquired the asset from the developers, Provident Real Estate Ventures and Merit Partners.

“We continue to like high growth markets across the Sunbelt and are excited to further expand our presence in Phoenix with this high quality asset well suited to today’s logistics needs,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas.

KKR is making the investment through its core plus real estate strategy. Across its funds, KKR now owns approximately 32 million square feet of industrial property in strategic locations across major metropolitan areas in the U.S.

Since launching a dedicated real estate platform in 2011, KKR has grown real estate assets under management to approximately $14 billion across the U.S., Europe and Asia as of September 30, 2020. The global real estate team consists of over 90 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, 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.

Media:
Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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Latour completes acquisition of VEGA S.R.L.

Latour logo

2021-01-12 08:30

On November 17, 2020, Investment AB Latour, through its wholly owned subsidiary Latour Industries AB, signed an agreement to acquire VEGA S.R.L, a company based in the Marche region, Italy. All closing conditions have now been fulfilled and the transaction has been completed as of January 11, 2021.

Göteborg, 12 January 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 708 19 47 36
Gustav Samuelsson, Business Development Investment AB Latour, +46 735 52 55 59

Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.

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 69 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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Open Farm Receives $65MM+ Minority Growth Investment Led By General Atlantic

General Atlantic

Funding Supports Open Farm’s Mission to Deliver Premium, Ethically Sourced Nutrition to More Pets & Will Help Drive Continued Brand Expansion

January 12, 2021

Open Farm, a premium pet food brand committed to raising the bar on the way we feed our pets, has raised $65MM+ USD ($80 MM+ CAD) in its latest round of funding, led by leading global growth equity firm General Atlantic. This marks General Atlantic’s first investment in the pet industry, and they join the company’s leadership team and existing minority partner, Encore Consumer Capital, on Open Farm’s long-term growth journey. The funding will be used to accelerate Open Farm’s mission to Do Some Good for animals and the planet, introduce the brand to millions of new pet parents, and support continued innovation to transform the way pets are fed through high-quality nutrition.

“Today’s pet parent is looking for strong nutrition that also aligns with their values,” said Isaac Langleben, Co-Founder and CEO of Open Farm. “We go to great lengths to create amazing foods, using ethically sourced ingredients, and take pride that every ingredient, in every bag of Open Farm, can be traced back to the source. We are so excited to partner with the team at General Atlantic as we continue to push our mission forward and establish Open Farm as the global leader in the premium pet food space.”

Since 2014, Open Farm has worked to make premium quality pet food offerings accessible and customizable to every pet and pet parent’s needs. With annualized growth exceeding 100% over the last five years, Open Farm can now be found in over 5,500 neighborhood pet retailers across North America, as well as online at OpenFarmPet.com. Open Farm started out with three products and is now recognized as a category-leader in product innovation, with a full suite of premium offerings ranging from dry dog food to fresh meals and supplements.

Throughout this growth trajectory, Open Farm has stayed true to its values, partnering with international recycling leader TerraCycle™ to offer a national pet food bag recycling program, and becoming the first pet food brand in North America to offer reusable packaging on the Loop platform. Additionally, Open Farm works with ethical sourcing partners Certified Humane®, Global Animal Partnership, and Ocean Wise Seafood to not only provide better quality ingredients to pets, but to ensure that the brand is sourcing ingredients in a way that respects farm animals and the planet.

“Mission-driven brands are a key focus for General Atlantic, and we are thrilled to partner with the Open Farm team, a group of passionate entrepreneurs who have built an authentic brand on the global and growing interest in better pet food options,” said Andrew Ferrer, Managing Director at General Atlantic. “Open Farm is well-positioned to deliver on the modern food values of its customers with its diverse portfolio of ethically and sustainably sourced premium products.”

“Open Farm is a highly differentiated brand and a leader within the growing pet food sector,” added Ben Sherman, Vice President at General Atlantic. “We are excited to support the team as they look to drive consumer awareness, enhance retailer support, and continue to deliver new product innovation and transparency around the world.”

Open Farm’s nutrient-dense recipes for dogs and cats include Dry Food, Freeze Dried Raw, Gently Cooked Fresh Meals, Rustic Stews and Blends, Treats, and Supplements such as Bone Broth and Kefir. Open Farm is available in neighborhood pet stores across the US and Canada and online at OpenFarmPet.com.

Open Farm was advised by Cascadia Capital LLC and Goodmans LLP. General Atlantic was advised by McCarthy Tétrault LLP.

About Open Farm

Open Farm is a Toronto-based pet food company on a mission to Do Some Good® for pets, farm animals and the planet. Every Open Farm recipe is designed to deliver high-quality nutrition, and is committed to raising the bar on the way we feed our pets with even stricter standards than what we eat ourselves. Open Farm delivers on its nutritional promise across 7 different product categories with an unmatched approach to ingredient transparency.  Since 2014, Open Farm has extended its presence to over 5,500 neighborhood pet stores across North America and at OpenFarmPet.com. Join our mission at OpenFarmPet.com or on Instagram and Facebook.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Carolyn Kocjan
Open Farm openfarmpet@powerdigital.com

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Smile Invest acquires a majority stake in 4ITEGO Group

Smile Invest

Smile Invest takes a majority stake in the leading provider of digital transformation software solutions 4ITEGO. Smile Invest invests alongside Xavier Werbrouck (founder and CEO) and the management team and replaces Robur Capital as growth accelerator.

4ITEGO was founded in 2017 as a result of the merger of CadCorner and GPO Solutions. In 2019, Infinite Simulation Systems and 4ITEGO Global Services joined the group. Through its subsidiaries, 4ITEGO is a reference provider of software solutions and services, focused on product development and digital process integration. The company acts as a partner for its customers and also provides consultancy and implementation services and trainings in addition to software solutions. 4ITEGO is active in the Benelux and has about fifty employees in their offices in Kortrijk (BE) and Breda (NL).

The solutions of 4ITEGO are mainly based on the software packages of PTC and Ansys. PTC is a leading software platform for computer-aided design (CAD) and product life cycle management (PLM). In addition, PTC is also a trendsetter in fast growing areas such as industrial internet of-things (IIoT) and augmented reality (AR). Ansys is the undisputed leader in industrial simulation software and has a wide range of solutions for digital simulations in product development (computer-aided engineering (CAE)). 4ITEGO is a recognized PTC Platinum Partner and Ansys Elite Partner.

Xavier Werbrouck, founder and CEO of 4ITEGO, is looking forward to the partnership with Smile Invest and the further growth prospects of the company. “Over the past few years, 4ITEGO has realised a strong growth trajectory, strengthening our market position in the Benelux. Together with Smile Invest, we will continue to expand the range of services and solutions offered to our customers and partners. We are convinced that Smile Invest is the ideal partner to support our growth given their focus on innovative companies and their knowledge and experience in digitalization of development and production processes.”

Wim Deblauwe, Managing Director at Robur Capital: “In 2017 we entered into a partnership with Xavier Werbrouck and his team to turn 4ITEGO into a leading player in the Benelux market. Thanks to the strong organic growth and acquisitions of GPO Solutions and Infinite Simulation Systems, 4ITEGO added complementary companies to the group. We would like to thank the 4ITEGO team for the pleasant cooperation over the past years and wish them every success in continuing the growth story.”

Thomas Dewever and Bart Cauberghe, Managing Partners at Smile Invest: “We are looking forward to welcoming 4ITEGO at Smile Invest. 4ITEGO has realized an impressive growth trajectory. Thanks to the recent acquisitions of GPO Solutions and Infinite Simulation Systems the group has profound know-how and expertise in industrial automation and digital transformation. Together with Xavier Werbrouck, we are happy to continue this successful growth story and will continue to consider further acquisitions.”

About Smile Invest:

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with €350 million of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in technology, healthcare and digital services. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realising their growth plans.

Contact Smile Invest:
Thomas Dewever, Managing Partner – thomas.dewever@smile-invest.com – +32 476 42 35 82

About Robur Capital:

Robur Capital is an open-ended investment fund established in 2016 providing growth capital and operational support to mature and profitable small and medium-sized enterprises.

Contact Robur Capital:
Wim Deblauwe, Managing Director –wim.deblauwe@roburcapital.be – +32 494 500 419

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Orange strengthens its venture capital activity in digital innovation by creating a new entity – Orange Ventures with an allocation of 350 million euros

Orange Ventures enters top 10 corporate venture capital funds in Europe.

Orange today announces that its venture capital arm, Orange Ventures has become a separate legal entity with an increased allocation of 350 million euros, empowering it to be more agile and competitive in seeking out and supporting the best start-up talent worldwide. Orange Ventures invests in high-growth sectors, in areas traditional to Orange expertise such as connectivity, cybersecurity, the digital enterprise, and innovative financial services, as well as new territories that the group is exploring, like e-health.

With offices in Paris and Dakar, Orange Ventures supports start-ups at all stages of maturity, from seed stage start-ups in Africa and the Middle East, to more mature companies in Europe and the United States, with investment tickets up to 20 million euros per financing round.

For Orange, the purpose of Orange Ventures is to promote the emergence of future technological champions who support the transition to an increasingly digital and responsible world, at the service of all, by sharing their innovation capabilities with its 256 million customers worldwide. To achieve this, Orange Ventures differentiates by proposing a highly structured process for exploring and creating flexible and optional synergies between Orange and start-ups.

Orange Ventures aims to achieve the financial performance of the best venture capital investment companies, and will make its investment decisions autonomously. The Orange Ventures team, made up of twenty people, has thus been strengthened with established experts from the venture capital industry, and will also take over the management of the portfolio of the Orange Digital Ventures initiative launched in 2015.

Jérôme Berger, President and Managing Partner of Orange Ventures declares: “our wish is to constitute an organisation which combines the best of both worlds: Orange’s business expertise as well as the agility of decision-making and the quality of the financial monitoring of the best investment funds. We closely support each start-up post-investment in order to contribute to its development and facilitate its direct and structured access to the Orange ecosystem whenever it is relevant.”

About Orange Ventures
With a 350 million euros allocation, Orange Ventures is dedicated to investments in innovative startups in areas of strategic interest of Orange (Networks & IT, Digital Enterprise, Cybersecurity, and Fintech) and beyond (Consumer platforms, E -gaming, Edtech, Health etc). Orange Ventures also deploys initiatives dedicated to the Africa and Middle East region. Supported by the Orange group, and made up of a team of 20 people, Orange Ventures offers startups in which it invests access to the Group’s expertise and the possibility of setting up synergies with its many business units and its 256 million customers in 26 countries. For more information, visit ventures.orange.com or follow us on Twitter @Orange_DV.

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CITIC Capital Completed Investment In Max-Inf, Leading Chinese Baby Safety Travel System Provider

Citic Capital

(Hong Kong, 11 January 2021) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has invested in Max-Inf Holdings Limited ( “Max-Inf” or “the Company”). Leo XU, founder and chairman of Max-Inf, will continue to lead the Company in its next phase of growth.

Founded in 1998 and based in Ningbo and Shanghai, China, Max-Inf is the leading Chinese brand operator and manufacturer in safety technology leading the way in innovative car seats, strollers, travel systems and other baby care related products. Max-Inf’s portfolio of brands include Baby First, Savile, Eurokids, as well as being the long-term exclusive China distributor for Britax, the leading global brand for baby travel safety systems.

Leo XU, founder and chairman of Max-Inf, says: “The mission of Max-Inf has always been bringing the safest baby travel systems to Chinese families. Today, Max-Inf and the multiple brands that it owns and distributes, have become the ultimate choices for parents in China as they try to find the most reliable, trust-worthy and innovative travel systems for their children. Max-Inf holds the highest standard in product quality, and leverages cutting-edge technology in the world in our product design and development. With the support from CITIC Capital, the Max-Inf team is committed to continuing to innovate and to provide best-in-class baby safety and baby care products for families in China.”

Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “Baby care market in China is an exciting space with increasing consumer sophistication and awareness around child safety. Max-Inf is the leading player in providing the most reliable and innovative mobility-related safety solutions and products. Its products have gained respect and trust from peers, and has a proud history of serving children globally. We are very excited to become the partner of Leo and his talented and passionate management team in the next stage of Max-Inf’s journey. We look forward to seeing more families and children enjoy safe and sound outings.”

Note: Haiwen & Partners served as legal counsel to CITIC Capital. Fangda Partners and Albright Law Firm acted as legal counsel to the founder.

About Max-Inf
Max-Inf is a leading child safety seats and other travel systems manufacturer in China, with more than 20 years of experience in designing and manufacturing mobility related products. Max-Inf offers a full range of child car seats and other travel products that meet various international standards, which are sold to over 50 countries and regions around the world. In China, Max-Inf’s own brand Baby First is the largest domestic carseat brand and Max-Inf has been the exclusive distributor for Britax, the leading global brand for carseats
and strollers. It also owns and operates the Savile and Eurokids brands, providing various child safety related products. For further information about Max-Inf, please visit www.max-inf.com.

About CITIC Capital
Founded in 2002, CITIC Capital is an alternative investment management and advisory company. The firm manages over USD32 billion of capital across 100 funds and investment products through its multi-asset class platform covering private equity, real estate, structured investment & finance, and asset management. CITIC Capital has over 200 portfolio companies that span 11 sectors and employ over 800,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout opportunities globally, has completed over 78 investments in the past years in China, Japan, U.S. and Europe. The private equity arm currently manages USD7.6 billion of committed capital. For more information, please visit www.citiccapital.com.

For media enquiries, please contact:
Cindy TAM Director, Corporate Relations CITIC Capital Holdings Limited Tel: +852 3710 6813 cindytam@citiccapital.com
Irene GAO Senior Associate, Corporate Relations CITIC Capital Holdings Limited Tel: +852 3710 6814 irenirenegao@citiccapital.comegao@citiccapital.com

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AxonIQ raises a €6M series A led by AVP to expand the engineering and commercial teams and accelerate growth, in particular in the US

AXA

Amsterdam, 07 Jan 2021

AxonIQ, founded in The Netherlands and leading provider of a software platform for Event-
Driven Architectures (EDA), announced today that it raised a €6M Series A round, led by AXA
Venture Partners (AVP) and their existing investor, Volta as co-investor. According to Jeroen
Speekenbrink, CEO and co-founder, “We are proud to welcome AVP as an investor
embracing our vision of providing the technology needed to build the custom software systems
that our clients need in these challenging times.”

“We are very excited to work with the team to support the growth of AxonIQ. What they and
their team have achieved so far is very impressive. We share their vision that event-driven
architecture is the next big thing for companies, big or small, that migrate their IT architecture
to microservices. This allows native auditability, which is critical for many industries. The quality
of their tech stack is very impressive and we are very honored to join the AxonIQ journey. As
for all our other portfolio companies, we’ll pour all our resources in Europe and in the US at
their service to help them grow.” commented Francois Robinet, Managing Partner of AVP.

Sander Vonk, managing partner of Volta Ventures and early investor continues: “There are
only a few companies out there who are able to grow at the rate AxonIQ is growing, with this
Series A and AVP as an investor the team is set to continue on this amazing journey.”
CTO and co-founder of AxonIQ, Allard Buijze says: “This investment allows us to expand our
engineering and commercial teams around the world. With the additional engineering capacity,
we will be able to take big strides in realizing our vision for tooling to make the benefits of
event-driven systems available to both large and small organizations.”

About AxonIQ
Founded in 2017, AxonIQ is based in The Netherlands. With people on the ground in the US,
France, Mexico, Serbia, Poland, Italy, and Germany, AxonIQ offers an end-to-end
development and infrastructure platform for smoothly evolving Event-Driven Architectures
focused on CQRS and Event Sourcing. Our platform known as Axon includes both a
programming model as well as a specialized infrastructure to provide enterprise-ready
operational support for the programming model – especially for scaling and distributing missioncritical
business applications. The Axon platform consists of the popular Axon Framework and
the built-for-purpose Axon Server. The open-source Axon Framework provides a clean,
elegant Java API for writing DDD, CQRS, and Event Sourcing applications. Axon Server is a
zero-configuration message router and event store. Axon Server is distributed in two editions.
Axon Server Standard Edition is a free version sufficient to get you started and run a small,
non-critical application in production. Axon Server Enterprise includes clustering and multicontext
support and is targeted towards mission-critical, medium to large scale production
deployments.

About AVP
AVP is a global venture capital firm investing in high-growth, technology enabled companies.
AVP has built, in less than five years, a unique investment platform specialized in tech
investments with $800 million of assets under management through three pillars of investment
expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in more
than 45 companies and more than 20 funds. The AVP team operates globally with offices in
San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides
unique access to business development opportunities helping portfolio companies to scale
globally and accelerate their growth. More details here: www.axavp.com

About Volta Ventures
Volta Ventures invests in young, promising internet and software companies in the Benelux.
Teams in Gent and Amsterdam provide guidance and assistance to grow from startup to scaleup.
Volta manages two funds with 100M in assets and has invested in more than 20 companies
to date. More details here: www.volta.ventures

Contact for Press
AVP
Sébastien Loubry
sebastien@axavp.com
+33 6 15 31 61 68
AxonIQ
Stefan van Eerde
stefan.vaneerde@axoniq.io
+31 6 12 10 88 44

 

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Zouk Capital announces third close in Charging Infrastructure Investment Fund

Zouk Capital

London, United Kingdom – January 2021

• Willis Towers Watson and Morgan Stanley Investment Management anchor close with HM Treasury
• Fund currently stands at £380m in signed commitments

London, 11 January, 2021: Zouk Capital, manager of the UK Treasury’s Charging Infrastructure Investment Fund (CIIF), today announced the fund has now reached a total of £380m in signed commitments (against a target of £400m) after this third close. The third close was anchored from the private sector by Willis Towers Watson’s clients and investment funds and Morgan Stanley Investment Management’s Climate Impact Fund, with funding matched by HM Treasury. The fund is targeting a final close in early 2021.

Both global leaders in their fields, investment consultant and fund manager Willis Towers Watson and asset manager Morgan Stanley Investment Management further strengthen the impressive list of investors already committed to CIIF. The CIIF is underpinned by the need to rapidly decarbonise the UK’s transport sector and improve air quality, which creates an opportunity to make environmentally impactful financial returns through the creation of large renewable energy powered public EV charging networks.

In 2020 the UK Government twice reduced the deadline for sales of petrol and diesel cars in its goal of reducing net carbon emission to zero by 2050. Supporting the public electric vehicle (EV) charging network is a key initiative within this objective. CIIF is dedicated to catalysing the rollout of a robust and diversified public EV charging infrastructure that is required to support the electrification of vehicles throughout the UK. Two investments have been made from CIIF so far – the first investment was in InstaVolt, which develops, installs, owns and operates rapid EV charging stations in the UK and has plans to bolster UK rapid charge points nationally to 5000. The second, announced in May 2020, was in Liberty Charge, a joint venture between Liberty Global and Zouk Capital, which is rolling out on-street residential charging points throughout the UK for the 40% of households without access to private driveways.

Paul Berriman, global head of TWIM, Willis Towers Watson’s investment fund business, said,

‘The Charging Infrastructure Investment Fund is playing an important role in speeding up the decarbonisation of the UK’s transport industry. This is clearly important from a sustainability perspective, and that also makes it a good investment opportunity for our Partners Fund, the flagship multi-asset portfolio of our best ideas across all asset classes.’

Vikram Raju, Head of Climate Impact, Morgan Stanley Investment Management AIP Private Markets, continued,

‘Accelerating the carbon transition in transportation is a key focus for the Climate Impact strategy at Morgan Stanley Investment Management. Through our partnership with the CIIF and Instavolt, we hope to transform significantly the way automobiles in the UK consume fuel and reduce the emissions they generate.’

Samer Salty, Managing Partner Zouk Capital added,

‘In spite of the ongoing challenging business environment, leading global investors continue to be attracted to the long-term fundamentals of CIIF. We are delighted to welcome both Willis Towers Watson and Morgan Stanley Investment Management to the fund, both with strong ESG mandates and both who share in our belief in the commercial opportunity in electric vehicle infrastructure as well as the importance of decarbonisation. Through Willis Towers Watson and Morgan Stanley Investment Management, we now have investments in CIIF from not only the UK and the Middle East, but also from the US, Germany, and Australia.’

Matthew Vickerstaff, Deputy Chief Executive Officer, Infrastructure and Projects Authority said,

“The private sector will play a crucial role in the ambitions to decarbonise our infrastructure and put the UK on the path to NetZero 2050.

This next investment into the Charging Infrastructure Investment Fund, alongside the recently launched National Infrastructure Strategy, reaffirms our commitment to working with the private sector, to make these newer technologies available for everyone across the country.”

Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Morgan Stanley Investment Management
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 729 investment professionals around the world and $715 billion in assets under management or supervision as of September 30, 2020. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

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Verdane closes continuation vehicle for three Verdane Capital VIII companies

Verdane Capital

Verdane closes continuation vehicle for three Verdane Capital VIII companies

January 15, 2021 — To further enhance the value creation in its 2013-vintage fund Verdane Capital VIII K/S and an associated co-investment vehicle, Verdane Capital VIII Winds SPV K/S, Verdane has today established a new vehicle, Verdane Capital 2020. The new continuation vehicle provides additional time and capital to address further value creation opportunities in three assets, two of which have a strong sustainability angle as suppliers to the global wind turbine industry.

The companies being transferred into the new vehicle are Polytech, a global leader in lightning protection systems and leading edge protection for wind turbines; Jupiter Bach, a global leader in nacelle and spinner covers for wind turbines; and Bellman Group, a full-service provider of field-related works required for construction of crucial infrastructure and buildings. Polytech and Jupiter Bach are headquartered in Denmark, while Bellman Group is headquartered in Sweden.

 

The transaction increases the Verdane Capital VIII distributed-to-paid-in capital ratio to approximately 150%, and a number of assets still remain in the Fund following the transaction. Other successful exits from the Fund, prior to the establishment of Verdane Capital 2020, include JSB Group, Norstat, RoyalDesign and WhiteAway.

In order to adhere to industry best practice and ensure the best possible outcome for existing investors, Verdane was during the sales process open to offers from new private equity managers to manage the portfolio going forward.

Verdane was advised by investment bank Evercore’s Private Capital Advisory team, and Andulf Advokat, a boutique law firm specialising in Private Equity.

 

About Verdane

Verdane is a specialist growth equity investment firm that partners with ambitious Northern European tech-enabled businesses to help them reach the next stage of international growth. Verdane pioneered portfolio acquisitions in Northern Europe in 2003, and announced a complementary fund strategy entirely dedicated to direct investments in 2018. Verdane’s eight funds hold €2.1bn in total commitments and have made over 120 investments into category leaders in digital consumer, energy & resource efficiency and software businesses. Verdane’s team of 62, based in Berlin, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled businesses in Northern Europe. www.verdane.com

 

Press contacts

Frida Einarson, Head of IR & Business Development
Verdane
+46 70 244 20 83
frida.einarson@verdane.com

 

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