Category Archives: News

EnerSys to acquire NorthStar from Altor

Altor

EnerSys (NYSE: ENS), the global leader in stored energy solutions for industrial applications, has entered into an agreement to acquire N Holding AB, the parent company of NorthStar, from Altor Fund II. Headquartered in Stockholm with production in Springfield, Missouri, NorthStar designs, manufactures and distributes industrial premium batteries for the Telecom and Transportation segments.

“In line with our previously disclosed strategy to increase sales of premium products we are pleased to announce the acquisition of NorthStar, which will enable EnerSys to dramatically accelerate our production capacity expansion for TPPL batteries” said David M. Shaffer, President and Chief Executive Officer of EnerSys.

NorthStar was founded in 2000 and was acquired by Altor in 2007, as the “industrial start-up” at that time wanted a partner to expand its offering, client base and target markets to grow and move away from dependencies. Transformations like that takes time and much has been accomplished today. It is another testament to the ownership philosophy of Altor – to partner with great entrepreneurs and to take the next step of the journey in every aspect.

“NorthStar is another fine example of our longer ownership horizon. Starting twelve years ago when NorthStar had one product, one major customer and one production plant. Today, NorthStar is transformed with a broadened product offering, launched the industry’s first IoT connected battery, expanded telecom client base and expanded into the transportation vertical, with a strong blue-chip customer base” Claes Ekström at Altor comments. “We believe EnerSys is an excellent new owner for this great company”.

Altor was advised by DC Advisory (M&A) and Wigge & Partners (Legal).

For more information, please contact:
Tor Krusell, Head of Communications Altor, +46705438747

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in more than 60 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Dustin, Byggmax, Navico, Infotheek, Orchid, Wrist Ship Supply, Sbanken, Rossignol, Helly Hansen, SATS and Carnegie Investment Bank. For more information visit www.altor.com.

About EnerSys®
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. With the recent Alpha acquisition, EnerSys provides highly integrated power solutions and services to broadband, telecom, renewable and industrial customers. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility and transportation industries, and by government and defense customers. The company also provides aftermarket and customer support services to its customers in over 100 countries through its sales and manufacturing locations around the world. More information regarding EnerSys can be found at www.enersys.com.

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Navamedic Q2 2019 – growth continues and separate listing of Medtech division

Reiten

The growth continues for Navamedic and the company reported revenues of NOK 47.2 million in the second quarter of 2019, up 4.4% from the same period in 2018. The demerger and separate listing of the Medtech division has been approved and is expected to be completed in the beginning of November 2019. The demerger is expected to provide a platform for accelerated growth in both Pharma and Medtech.

Navamedic reported revenues of NOK 47.2 million in the second quarter of 2019, up from NOK 45.2 million in the corresponding quarter last year. The gross margin was 34.4% (34.9% in Q2 2018). The EBITDA came in at NOK 0.9 million (MNOK 5.6 in Q2 2018), mainly due to project costs related to the demerger of Medtech and increased focus on business development.

In the first half of 2019, revenues increased to NOK 92.7 million (MNOK 87.8 in Q1 2018), while EBITDA came in at NOK 1.4 million (MNOK 2.7 in Q1 2018).

“We have initiated the implementation of the new growth strategy and see a great potential in leveraging Navamedic’s highly scalable pharma market access platform. In the second quarter of 2019, we continued to deliver growth driven by the strong momentum in our Obesity and Medical Nutrition product categories. We are looking forward to continue to drive growth in our current product portfolio, in addition to introducing new products and explore the arising M&A opportunities,” says Kathrine Gamborg Andreassen, CEO of Navamedic.

Gamborg Andreassen further adds; “As we continued to build on our core business to provide a highly efficient market access platform for pharma companies, we also proposed a key strategic decision to the Extraordinary General Meeting: demerger and separate listing of the Medtech division, to provide a platform for accelerated growth in both Pharma and Medtech.”

The Extraordinary General Meeting of Navamedic approved the plan for demerger and separate listing of the Medtech division. The Medtech divison is commercialising Sippi®, a new system for digital, wireless, urine measurement, in global markets. The proprietary Sippi® technology represents significant long -term revenue opportunities for Navamedic.

“Urine measurement is the last entrenchment of manual measurement at the intensive care units. Today, urine measurement is binding healthcare personnel’s time and resources, resulting in stress and mistakes, and ultimately hospital acquired infections. As the next generation digital, wireless, urine measurement and infection prevention system, Sippi® is approaching attractive markets with a unique product which meets a significant medical need. We see significant long -term global market opportunities for the proprietary Sippi® product family ahead,” says Gamborg Andreassen, CEO of Navamedic.

See 2H 2019 report at the company webpage http://www.navamedic.com/globalassets/investor-relations/presentations/quaterly-presentations/q2-2019-presentation.pdf

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Scanship acquires ETIA

Reiten

On the 28th of August, Scanship Holding acquired the French environmental technology company ETIA Ecotechnologies. With this acquisition, Scanship broadens their technology portfolio and strengthens their access to landbased markets. Combined the companies have the ambition to create a market leading supplier in the waste-to-energy market.

Scanship and ETIA will jointly target all markets where pyrolysis can be deployed to convert organic waste, biomass, plastic and polymers into energy, fuels, biogenic materials or molecules for the purpose of decarbonizing energy, capturing carbon, valorising waste and creating end-of-waste solutions.

“Over the past years, we have built on Scanship’s position as the preferred supplier of waste management and wastewater purification solutions for cruise ships, we have moved into aquaculture and now most recently, also will deliver our first full-scale land-based solution. We have proven our ability to integrate advanced technology in commercially attractive solutions and profitable deliveries. The acquisition of ETIA is a logical next step. With the broader technology portfolio of ETIA, we will now expand of offering of land-based solutions,” says Henrik Badin, CEO of Scanship Holding.

He further adds: “ETIA is European technology leader to valorise biomass residues and waste into renewable products, chemicals and fossil free energy through pyrolysis solutions. ETIA’s proven solutions for turning waste into valuable green products and climate friendly energy fit well with our ambitions to become a leading player in the circular economy, both at sea and on land,” says Henrik Badin, CEO of Scanship Holding.

“Circular economy has been a key motivating factor for ETIA since the company’s inception in 1989. Like Scanship on marine applications, we have developed on-land compact solutions that capture valuable resources, prevent pollution and produce energy. Climate change and environmental issues must be addressed both on a global and local level, and our solutions can be adapted for both municipal and industrial applications. Scanship and ETIA share the same vision for the future, and we are impressed by Scanship’s proven skills and competences for system deliveries. By joining forces, we are making our combined offering even stronger,” says Dr. Olivier Lepez, Co-Founder and CEO of ETIA.

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Partners Group commits to second unitranche investment in Asia with financing of Gong Cha Group

Partners Group

Partners Group, the global private markets investment manager, has committed a unitranche debt financing to Gong Cha Group (“Gong Cha” or “the Company”), a leading global provider of premium quality bubble and milk tea, on behalf of its clients. The transaction, which also includes a significant equity kicker, supports the strategic growth investment in Gong Cha by the private equity firm TA Associates.

Founded in 2006 in Southern Taiwan, Gong Cha offers consumers a variety of seasonal and specialty tea-based drinks. Its main offering is Taiwanese-style bubble tea, a sweet milk tea infused with tapioca pearls. Primarily utilizing a franchise model, Gong Cha reaches consumers through a variety of retail store formats, with more than 1,000 outlets in 17 countries across the globe, including Korea, Japan, Taiwan, the Philippines, Malaysia, Mexico, Australia, Canada, the UK and the US.

Partners Group’s investment in Gong Cha follows an earlier investment on behalf of its clients into the unitranche debt of AGS Health, a provider of clinical documentation and revenue-cycle management solutions to healthcare providers. Together with transactions in Australia, Partners Group has invested more than USD 600 million in unitranche investments over the last two years across the Asia-Pacific region.

Edward Tong, Senior Vice President, Head Private Debt Asia, Partners Group, comments: “Gong Cha is one of the world’s most recognized bubble tea brands, albeit one with its roots firmly in Asia. It is well positioned to benefit from the steady growth of the tea market globally and we are excited to partner with TA Associates to support its further expansion.”

Bill Berry, Partner, Head Private Debt, Partners Group, adds: “The private debt business at Partners Group has shown itself to be an innovative lender with a track record of breaking new ground. We have taken the unitranche product out of Australia and into Asia, and believe there is scope to provide these tailored financing solutions while maintaining a high degree of credit selectivity.”

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Partners Group to acquire 50% stake in Latin American power generation platform, EnfraGen

Partners Group

Partners Group, the global private markets investment manager, has agreed to acquire a 50% stake in EnfraGen, LLC (“EnfraGen” or “the Company”), a leading developer, owner and operator of specialized power generation assets in Latin America, on behalf of its clients. Glenfarne Group (“Glenfarne”), the US-based industrial owner and operator that founded EnfraGen, will retain the remaining 50% of the business. Part of Partners Group’s capital injection will fund EnfraGen’s expansion into Colombia with the acquisition of Termoflores, the country’s second largest back-up power generation asset and one of its largest combined cycle gas turbine assets.

Formed in 2015, EnfraGen specializes in providing back-up power for grid stability and baseload renewable power generation in investment grade countries in Latin America through its existing businesses, Prime Energía and Fontus. Prime Energía focuses on grid stability with a portfolio comprising eight thermal back-up power generation assets in Chile and the newly acquired Termoflores asset in Colombia. Fontus focuses on baseload renewable assets with an expanding portfolio of solar assets and three hydropower assets. Including the Termoflores acquisition, EnfraGen will have 1.4GW in total power generation capacity across its platform, plus an executable growth pipeline.

Following the investment, Partners Group and Glenfarne will work closely with EnfraGen’s management team, led by Brendan Duval, EnfraGen CEO and Founding Partner of Glenfarne, to drive forward a number of strategic value creation and growth initiatives. Key areas of focus will include the ongoing development of the Fontus assets in Chile, Colombia, and Panama; executing on the construction of the existing greenfield portfolio; and further expanding the platform via strategic acquisitions in target markets.

Brendan Duval, CEO of EnfraGen, states: “We are pleased to work with Partners Group to pursue our shared vision for EnfraGen as a preeminent power platform focused on grid stability and value-added renewable assets across investment grade Latin America. We see a robust pipeline of opportunities to further build EnfraGen’s portfolio, and look forward to combining Glenfarne’s and Partners Group’s expertise and innovation to achieve this vision.”

Edward Diffendal, Managing Director, Private Infrastructure Americas, Partners Group, adds: “Latin America has experienced a rapid expansion of renewable energy sources, creating an increased need for grid stability. EnfraGen operates in a particularly attractive segment of this market, which benefits from structural renewable tailwinds and receives stable cash flows under long-term established capacity contracts. Back-up power generators such as EnfraGen play a critical role in reducing load imbalance in Latin America, and EnfraGen also provides reliable renewable energy to local communities.”

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TA Associates Announces Minority Investment in MISA

TA associates

BOSTON and HONG KONG – TA Associates, a leading global growth private equity firm, today announced that it has completed a minority investment in MISA Joint Stock Company (“MISA”), a leading software provider in Vietnam. Financial terms of the transaction were not disclosed.

Founded in 1994, MISA provides accounting, financial, enterprise resource planning (“ERP”) and business management software to enterprises, government and individuals across Vietnam. The Company serves more than 70,000 government sector clients and 100,000 small and medium-sized enterprise (“SME”) clients across the country. MISA has more than 1,500 employees throughout its offices in Hanoi, Da Nang, Buon Ma Thuot, Ho Chi Minh City and Can Tho.

“MISA is among the software industry leaders for both the public and private sectors in Vietnam, with a high quality business model and an impressive history of generating meaningful growth,” said Edward Sippel, a Managing Director at TA Associates and Co-head of Asia operations of TA Associates Asia Pacific Ltd who will join the MISA Board of Directors. “With its innovative product offerings, talented management team and commitment to customer service, we believe that MISA is well positioned to capitalize on both organic and inorganic growth opportunities. We are excited about this partnership, and are looking forward to working collaboratively with the MISA team.”

“Since establishing MISA more than 25 years ago, we have strived to design and deliver software solutions that are effective and user-friendly for our dedicated customer base,” said Long Lu Thanh, Founder and Chairman of MISA. “As we seek to aggressively scale our business model and augment growth through a variety of new services, it is critical to have a genuine partner by our side who is fully aligned with and supportive of our go-forward strategy, understands the software industry well and provides impactful value-add. We have found that partner in TA Associates, and we look forward to leveraging their deep global experience within the software sector and technology space to help take our company to the next level.”

“To date, our team has worked diligently to help change the level of productivity and efficiency of individuals and organizations throughout Vietnam,” said Dinh Thi Thuy, Chief Executive Officer of MISA. “As a quality investor with a true global reach, we believe that TA Associates will play a key role in helping us expand into new markets to promote sustainable growth within our business. We welcome TA to the MISA family.”

“Given Vietnam’s rapid development as an attractive emerging market, the country’s software industry is enjoying significant growth, particularly as companies are beginning to acknowledge and comprehend the benefits of capital expenditure savings that cloud software provides,” said Jonathan Meeks, a Managing Director at TA Associates. “Because of this, we believe that MISA is well-positioned to maintain its growth trajectory by continuing to secure new clients and contracts within government agencies and prominent enterprises while simultaneously transitioning to even more advanced cloud-based SaaS products. We sincerely thank the MISA team for this partnership opportunity.”

About MISA
MISA is an accounting, financial, ERP and business management software provider for enterprises, government and individuals across Vietnam. The company has more than 70,000 government sector clients and 100,000 SMEs, retail, and food and beverage clients across Vietnam. For more information, please visit www.misa.com.vn/en.

About TA Associates
TA Associates is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Waterlogic establishes footprint in Belgium through acquisition of Pure Services

Castik Capital

Waterlogic, a leading global designer, manufacturer, distributor and service provider of purified drinking water dispensers, is pleased to announce the acquisition of Pure Services.

Established in 2007, Pure Services specialises in renting and servicing drinking water dispensers and fountains to small and large corporate organisations across Belgium and Luxembourg.

Founded in 1992, Waterlogic was one of the first companies to introduce Point-of-Use (POU) water dispensers that utilise the mains water supply. The company has been at the forefront of the POU market, promoting eco-friendly product design and quality, the application of new technologies, and world class service.

Veerle Claes, Managing Director, Waterlogic Benelux said, “Pure Services is the natural partner to help us establish a footprint in Belgium’s fast-growing hydration market. The company has worked tirelessly over the last 12 years to establish an outstanding reputation for exceptional service and drinking water solutions for their customers.”

Waterlogic has direct presence in 16 countries and an extensive independent global distribution network in place, reaching over 60 countries around the world. Waterlogic Belgium is part of the company’s newly formed Benelux region alongside an already established market in the Netherlands and plans to enter Luxembourg, further fulfiling its strong growth ambition in Europe.

Emmanuel Eeman, former owner of Pure Services said, “We are very excited to be joining Waterlogic. Waterlogic’s extensive range of dispensers are backed by superior technologies focused on delivering purified, great-tasting water in the most environmentally-responsible way without the need for plasic bottles, giving our customers the high quality sustainable choice they deserve.”
Waterlogic was acquired in January 2015 by funds managed by Castik Capital, the European private equity investor. Pure Services is a recent acquisition as part of the company’s buy and build strategy since the acquisition by Castik, and following substantial acquisitions in the US, UK, Australia, Spain, France, Germany, and Scandinavia.

Media Contact

Rosanna Turner, Group Marketing Communications Manager
rosanna.turner@waterlogic.com

About Waterlogic

Waterlogic is an innovative designer, manufacturer, distributor and operator of Point-Of-Use (POU) drinking water purification and dispensing systems designed for environments such as offices, factories, hospitals, hotels, schools, restaurants and other workplaces. Founded in 1992, Waterlogic was one of the first companies to introduce POU systems to customers worldwide, and has been in the forefront of the POU market, promoting product design and quality, the application of new technologies and world class sales and service. Waterlogic has its own subsidiaries in many markets and an extensive and expanding independent global distribution network in place, reaching over 60 countries around the world. Waterlogic products are currently distributed in North and South America, Europe, Asia, Australia and South Africa. Waterlogic’s leading markets are the US, Australia and Western Europe, in particular the UK, Scandinavia, Germany and France. More information can be found at www.waterlogic.com

About Castik

Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.

 

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Capricorn Venture Partners renamed to Capricorn Partners

Capricorn

Leuven, Belgium: 30 August 2019 – As of today, Capricorn Partners is the new name of Capricorn Venture Partners. Capricorn Partners reflects better some recent changes in the structure of the company and the broader scope of funds that the company is currently managing.

Since the merger with Quest Management, the company operates two business lines: (i) venture capital and (ii) quoted equity management. In venture capital, Capricorn Partners is managing five funds: Capricorn Digital Growth Fund, Capricorn Sustainable Chemistry Fund, Capricorn ICT Fund, Capricorn Health-Tech Fund and Capricorn Cleantech Fund and three related feeder funds. In the last year, two important milestones were achieved in the venture capital business line: the final closing of Capricorn Sustainable Chemistry Fund with a committed capital of € 86.5 million and the first closing of Capricorn Digital Growth Fund at € 48.4 million. In addition, Capricorn Partners has started Capricorn Scorpio Investment Management, a joint venture investment advisory company based in China, which together with Capricorn Partners is to act as the exclusive investment advisor of a newly established RMB 350 million (€ 45 million) China – Belgium (Europe) Technology Innovative Industry Fund. Capricorn Partners is also the management company of Quest for Growth and the investment manager of Quest Cleantech Fund and Quest+, both sub-funds of Quest Management SICAV. The quoted equity business of Capricorn Partners (Quest Cleantech Fund, Quest+ and the quoted equity portfolio of Quest for Growth) has grown it assets under management from just over € 60 million at the time of the merger to more than € 220 million today. This was realized thanks to strong performance and cash inflow from existing and new investors.

Secondly, the capital structure of Capricorn Partners was opened to a number of key members of staff in order to become a true partnership. Before, the company was majority-owned by Dr Jos B. Peeters, founder and chairman of the executive committee, with Prof Philippe Haspeslagh, chairman of the board of directors, as the only other shareholder.  Exactly one year ago, members of the executive committee Yves Vaneerdewegh and Sabine Vermassen and senior investment managers Olaf Cörper and Katrin Geyskens joined as shareholders and became partners of Capricorn Partners.

This evolution into a diversified manager of venture & growth capital and quoted equity investments and the creation of a broader partnership puts Capricorn Partners in an excellent position to support its future growth and realise its mission to help providing “Capital for Innovation, Impact and Growth”.

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Gambling.com Group Secures $15.5M Growth Investment from Edison Partners

Edison Partners

Funds will create the leading performance marketing business for American online gambling

 

Gambling.com Group Plc (“Gambling.com Group” or the “Group”) today entered into an agreement with Edison Partners (“Edison”) regarding a $15.5 million investment into the equity of Gambling.com Group Plc (the “Group” or “Gambling.com Group”). Edison is a growth equity investment firm which manages more than $1.4 billion in assets and is based in New Jersey, the new hub of regulated online gambling in America.

 

The agreement represents one of the most significant deals between a U.S. private equity fund and a performance marketing company focused on online gambling and sports betting. Gambling.com Group is the fastest growing and one of the most awarded leaders in performance marketing for the global online gambling industry with a particular focus on European markets. The Group expects the U.S. market to grow in size to rival that of the current European one in the coming years.

Charles Gillespie, Chief Executive of Gambling.com Group, says, “We have been thoroughly impressed by Edison Partners’ depth of expertise, breadth of knowledge and professional network. We greatly look forward to bringing on Edison as our teammate in our new American journey. Edison is the right partner at the right time, and I expect our collaboration to deliver powerful results. Their investment in the Group validates our thesis that we are the performance marketing and content platform best positioned to benefit from the expansion of regulated online gambling in the United States.”

 

The addition of Edison Partners to the Group’s list of investors gives the Group a strategic American growth equity partner who will help advance the Group’s objectives, particularly in its home state of New Jersey and throughout its network in the northeastern United States. As the National Football League officially kicks off, 13 states now take legal sports bets, with at least six more slated to take bets in the coming months.

 

“We are thrilled to enter the online gaming market with our investment in Gambling.com Group,” said Chris Sugden, Managing Partner at Edison Partners. “The company will continue to monetize the large market opportunity in Europe while increasing investment in the U.S. Online gaming is expanding significantly as regulations are modified on a state-by-state basis.”

The Group has been executing a comprehensive plan to be the leading performance marketing company within the regulated online gambling sector in the United States since before the invalidation of the Professional and Amateur Sports Protection Act (PASPA) in May 2018. The Group’s flagship website Gambling.com is already active in New Jersey and Pennsylvania, and the Group is investing substantial resources in Bookies.com to make it the pre-eminent source of sports betting information in the United States. The Group has secured licenses to expand business deals with gambling operators in New Jersey, Pennsylvania and West Virginia and has broadened its footprint with key management hires, a new office in Charlotte, North Carolina, and by becoming the first sports betting media group to be accepted as members of the Associated Press Sports Editors (APSE).

“Attention to sports gambling in the U.S. is booming, and we are building out a robust content team, offering products to match that interest,” Gambling.com Group Director of North American Content Gerry Ahern said. “On Bookies.com we are providing a real-time lens for sports fans that educates, entertains and informs them as they explore legal wagering options. On Gambling.com we are keeping the audience up to date with industry news and the latest in legislation as more states come online and more fans are served.”

Proceeds will be used by the Group for general corporate purposes with a view to accelerating certain investments in the United States market.

“With an exceptionally strong brand, robust content creation strategy, player-focused editorial point of view and proven marketing capabilities, Gambling.com Group is well positioned to become the leading provider of new customers to U.S.-based online sportsbook and iGaming operators,” said Gregg Michaelson, Partner at Edison Partners, who will sit on the company’s board of directors after the transaction closes. “Gambling.com Group founder and CEO Charles Gillespie is an industry leading business operator who brings the same ethical and compliant approach to the U.S. gaming market as he has in Europe.”

About Gambling.com Group Plc
Gambling.com Group Plc is a multi-award winning provider of digital marketing services for the global iGaming industry. Founded in 2006, the group has a workforce of more than 110 and operates from offices in Dublin, Charlotte, Tampa and Malta. The group publishes websites that offer comparisons and reviews of online gambling websites across 15 national markets in nine languages. Players use these resources to select which online gambling operators they should trust to offer a safe and honest online gambling experience. The Group’s publishing assets include the leading iGaming industry portal, Gambling.com® as well as Bookies.com and the CasinoSource℠ series of portals, among many others.

About Edison Partners
For more than 30 years, Edison Partners has been helping CEOs and their executive teams grow and scale successful companies. The firm’s investment team brings extensive investing and operating experience to each investment. Through a unique combination of growth capital and the Edison Edge platform, consisting of operating centers of excellence, the Edison Director Network, and executive education programs, Edison employs a truly integrated approach to accelerating growth and creating value for businesses. A team of experts in financial technology, healthcare IT and enterprise solution sectors, Edison targets high-growth companies with USD $5 million to $25 million in revenue; investments also include buyouts, recapitalizations, spinouts and secondary stock purchases. Edison’s active portfolio has created aggregated market value exceeding USD $10 billion. Edison Partners is based in Princeton, N.J. and manages more than USD $1.4 billion in assets throughout the eastern United States.

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Onex Partners and BPEA Announce Secondary Offering of Clarivate Analytics –

Onex

Toronto, Canada, Hong Kong, China, September 6, 2019 – Onex Corporation (“Onex”) (TSX: ONEX), Baring Private Equity Asia (“BPEA”) and their affiliated funds, along with certain other shareholders (together the “Group”), today announced the sale of 34.5 million ordinary shares of Clarivate Analytics plc (“Clarivate”) (NYSE: CCC; CCC.WS) at an offering price of$16.00 per share. The underwriters were granted a 30-day option to purchase up to 5.175 million additional ordinary shares from the Group. Clarivate is a global leader in providing trusted insights and analytics to accelerate the pace of innovation.

At the offering price and before the underwriters’ option, gross proceeds to the Group will be approximately $552 million, of which Onex’ share will be approximately $144 million as a Limited Partner in Onex Partners IV and as a co-investor. Onex, BPEA and their affiliated funds will continue to hold approximately 183.0 million ordinary shares of Clarivate, making it the largest shareholder with an interest of 60%. Onex will continue to hold approximately 49.8 million ordinary shares for a 16% interest.

The offering is expected to close on September 10, 2019, subject to customary closing conditions. A registration statement relating to these securities was declared effective by the Securities and Exchange Commission on September 5, 2019. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Onex

Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff’s actively managed public equity and public credit funds. In total, Onex has approximately $39 billion of assets under management, of which approximately $6.9 billion is its own shareholder capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.

The Onex Partners and ONCAP businesses have assets of $53 billion, generate annual revenues of $31 billion and employ approximately 172,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX.

For more information on Onex, visit its website at www.onex.com.

Onex’ security filings can also be accessed at www.sedar.com. About Baring Private Equity Asia (BPEA)Baring Private Equity Asia (BPEA) is one of the largest and most established private alternative investment firms in Asia, with total committed capital of over $18 billion. The firm runs a private equity investment program, sponsoring buyouts and providing growth capital to companies for expansion or acquisitions with a particular focus on the Asia Pacific region, as well as investing into companies globally that can benefit from further expansion into the Asia Pacific region. BPEA also manages dedicated funds focused on private real estate and private credit. The firm has a 22 year history and over 180 employees located across offices in Hong Kong, China, India, Indonesia, Japan, Singapore and Australia. BPEA currently has over 30 portfolio companies active across Asia with a total of 158,000 employees and revenues of approximately $31 billion. For more information, please visit www.bpeasia.com. Forward-Looking StatementsThis press release may contain, without limitation, statements concerning possible or assumedfuture operations, performance or results preceded by, followed by or that include words such as“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words ofsimilar connotation, which would constitute forward-looking statements. Forward-looking statements are not guarantees. The reader should not place undue reliance on forward-looking statements and information because they involve significant and diverse risks and uncertaintiesthat may cause actual operations, performance or results to be materially different from thoseindicated in these forward-looking statements. Except as may be required by Canadian securitieslaw, Onex is under no obligation to update any forward-looking statements contained hereinshould material facts change due to new information, future events or other factors. These cautionary statements expressly qualify all forward-looking statements in this press release.

For further information:

Onex Emilie BlouinDirector,

Investor Relations+1.416.362.7711

BPEA Richard Barton Newgate Communications

richard.barton@newgate.asiaor +852.9301.2056

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