Category Archives: News

Ardian signs an agreement with 3i Infrastructure for the sale of its stake in Ionisos

Ardian

Paris, July 26th 2019 – Ardian, the independent private investment company, announces that it has signed an agreement to sell its stake in Ionisos, a leading international provider of cold sterilisation services to the medical, pharmaceutical and cosmetics industries with 3i Infrastructure PLC (“3i Infrastructure”).
Established in 1993 in Civrieux, France, Ionisos is the third largest cold sterilization provider globally and operates a network of 11 plants in Europe with market leading positions on the French and Spanish markets. It has over 200 employees and a highly diversified and loyal client base of more than 1,000 clients. Ionisos delivers a mission-critical service for the medical and pharmaceutical industries.
The need for pharmaceutical products and medical instruments and the associated sterilization services is driven by attractive market fundamentals and non-cyclical market drivers, including an ageing population in Western Europe, a growing demand for medical services increasingly requiring disposal medical supplies, as well as strong regulation on sterilization of medical and pharmaceutical products.
Since Ardian Expansion acquired a stake in July 2016, the company’s turnover has almost doubled. Ionisos has experienced strong organic growth and has implemented a dynamic external growth strategy over the past three years, through five acquisitions in five European countries (Germany, Spain, Estonia, France and Italy).François Jerphagnon, Member of the Board of Ardian France and Head of Ardian Expansion, commented: “We are delighted to have supported Ionisos’ management in its growth strategy and its international expansion. In line with its expertise, Ardian Expansion has transformed a top tier French player into a European leader through an active acquisition strategy. We would like to thank the management team and all the employees for the extraordinary work achieved.”Marie Arnaud-Battandier, Managing Director in the Ardian Expansion team, added: “We are very happy to have participated in Ionisos’ development. We have contributed to strengthening the management team and the group’s international expansion. We are confident that the company now has everything to succeed in its new development phase.“

Christoph Herkens, chairman of Ionisos, concluded: “We are delighted to have partnered with Ardian over the past few years. Without this active support, the development we have seen would not have been possible at this speed and with this coherence. We would like to thank Ardian for the trust they have placed in the management, the great openness during this partnership. The Ionisos teams are well prepared and highly motivated to enter a new phase of growth with 3i Infrastructure and we look forward to this future partnership.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 610 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT IONISOS

Ionisos is a French company founded in 1993, which manages eleven plants in France, Spain, Germany, Estonia and now Italy. Ionisos is a specialist in cold sterilization using ionization and ethylene oxide for the medical sector, pharmaceutical products, cosmetics and food packaging. The company is also active in the cross-linking of various products used in industry, particularly the construction industry.
www.ionisos.fr

ARDIAN

Ardian Expansion: François Jerphagnon, Marie Arnaud-Battandier, Maxime Séquier, Thomas Grétéré
M&A Advisors: Natixis Partners (François Rivalland, Joseph El Khoury)
Legal advisors: Weil Gotshal & Manges (Frédéric Cazals, Alexandra Stoicescu)

IONISOS GROUP

Christoph Herkens, Aurélien Guilloux
Legal advisors: Delaby & Dorison (Emmanuel Delaby)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov
Tel: +44 203 4357 518
vtsvetanov@headlandconsultancy.co.uk

Categories: News

Tags:

Naxicap Partners and Ardian in exlusive negotiations to acquire a stake in the Emera Group alongside its founder Claude Cheton

Ardian

Emera Group, a leading provider of residential retirement homes in France, is reorganizing its capital structure involving Naxicap Partners, Ardian Co-Investment and its founders, Claude Cheton and Christophe Bergue.

Paris, July 26th, 2019 – Naxicap Partners, and Ardian, a world-leading private investment house, have entered into exclusive negotiations to acquire a significant stake in Emera Group, a leading provider of residential retirement homes in France, to help accelerate the Group’s international expansion.

Founded in 1987, Emera has built a network of 68 residential retirement homes with more than 6,000 beds across Europe. The Group is recognized as a leading provider of residential care home services, achieving a high satisfaction among its residents and their families. Emera is also the first company to have launched independent retirement homes as part of its establishments. In 2018, Emera’s turnover exceeded 230 million euros, 20% of which was generated outside of France – in Belgium, Luxembourg, Switzerland, Italy and Spain.

Naxicap Partners and Ardian were attracted by Emera’s unique strategic assets: a high-quality network of establishments with solid operational and financial performance, a highly experienced management team and a significant potential for international expansion. The Group intends to pursue the existing strategy, set out by Claude Cheton and his team, as it accelerates its international expansion while ensuring that outstanding quality of service remains at the heart of the company.

Claude Cheton, President and Founder of Emera Group, said: “I am very excited to welcome Naxicap Partners and Ardian, two experienced investors, to Emera Group. They share our vision and the strategy pursued by the Group since its creation. Naxicap Partners and Ardian will be able to share their experience, supporting The Group in the next stage of its development and help accelerate its international expansion. This is a new chapter for Emera and I am convinced that we will achieve our growth ambitions, as we have done in the past.”

Eric Baugas, Chief Executive Officer of the Emera Group, added: “This transaction marks the opening of a new chapter for Emera, as Naxicap Partners and Ardian support our ambition to expand in France and internationally. This partnership will enable us to play a leading role in the consolidation of the European residential retirement homes market.”

Eric Aveillan, Chairman of the Executive Board of Naxicap Partners, said: “Naxicap Partners is pleased to announce the acquisition of a significant stake in Emera Group, in consortium with Ardian and alongside Claude Cheton. The Group’s expertise, performance and the quality of its management team make it a unique investment opportunity in the sector. Naxicap Partners wishes to be active alongside the Group to help it accelerate its growth both organically and by seizing external opportunities”.

Antoine Lencou-Barème, Managing Director of Ardian Co-Investment, said: “We are extremely pleased and proud to invest in Emera Group alongside Naxicap Partners and Claude Cheton. The Group’s internationalization strategy and high-quality hotel and care services make it unique in the retirement residential care market. We have been particularly impressed by its growth over the past ten years and the quality of its team, and we look forward to supporting Emera on the next phase of its growth journey.”

LIST OF PARTICIPANTS

Emera: Claude Cheton, Eric Baugas, Sophie Cheton, Baptiste Bazire
Naxicap Partners: Eric Aveillan, Laurent Sallé, Aurélien Dorkel, Cyrille Seydoux, Nicolas Sebille, Clémence Rousselet
Ardian: Alexandre Motte, Antoine Lencou-Barème, Stéphane Guichard, Jean-Clément Pierre
Purchasers advisors :
M&A : Lazard Frères (Charles Andrez, Guillaume de Fréminet, Raoul Mansour, Pierre-Hadrien Francey) ; Will Consulting (Jacques Ittah)
Financing : Lazard Frères (Emmanuel Plantin, Xavier Gautrin)
Corporate lawyer : Edge (Matthieu Lochardet, Stéphanie Dourdin)
Financing lawyer : Mayer Brown (Patrick Teboul)
Financial due diligence : KPMG (Mathieu Wallich-Petit, Mohamed Macaigne, Stéphane Kuster)
Real estate due diligence : KPMG (Tanneguy de Guerpel, Louis Pelletier) ; Cushman & Wakefield
IT due diligence: KPMG (Laurent Gobbi, Paul Pillet)
Legal, social, fiscal due diligence : Fidal (Anne Fréchette-Kerbat, Mikael Maheust, Régis Hallard, Rodolphe Meneux), Depardieu (Paul Talbourdet)
Strategic Due diligence : BCG (Benjamin Entraygues, Quentin Decouvelaere, Mathilde Marret)
Insurance due diligence: Marsh (Charles Amblard, Jean-Marie Dargaignaratz)
Management advisors :
Financial counsel : Oloryn Partners (Eric Lesieur)
Lawyer : SVZ (Franck Sekri)
Seller’s advisors :
M&A : Transactions & Cie (François Paillier, Sébastien Chabre)
Corporate lawyers : Frieh Associés (Michel Frieh)
Financial due diligence : KPMG (Hervé Richard)

ABOUT NAXICAP PARTNERS

As one of the top private equity firms in France, Naxicap Partners has €3.1 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.
  www.naxicap.fr/en

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 610 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 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

Categories: News

Tags:

Bain Capital Merges ChinData with Bridge Data Centres to Establish Pan-Asian Data Centre Strategy

BainCapital

HONG KONG, July 25, 2019 – Bain Capital today announced the merger of ChinData, a leading Chinese operator of campus-style, hyperscale data centres, and Bridge Data Centres, a wholesale and custom build data centre company, to form one of the leading pan-Asian data centre platforms. The new parent Company, ChinData Group, will continue to operate under the ChinData and Bridge brands respectively. Bain Capital acquired ChinData in May 2019 from Wangsu Science & Technology Co. Ltd and has owned Bridge Data Centres since 2017.

The combined company delivers hyperscale, wholesale and custom-build data centre solutions to leading regional and global customers, with facilities in China, India, and Southeast Asia.  The company currently has delivered over 100 MW of contracted capacity and is still under continuous and full-speed development.

Bain Capital’s investment in the combined entity is funded from vehicles managed by Bain Capital Private Equity and Bain Capital Credit. Executing this multi-part deal and corporate combination required long-term creative thinking and financing over more than three years, beginning with a greenfield development in India, acquisitions in Southeast Asia, and the exploration of the hyperscale opportunity brought about by the massive needs among Internet, cloud and technology companies in China. ChinData Group is poised to benefit from the dramatic growth in demand among enterprises for cloud services and the expansion of opportunities in Asia for international cloud providers that require high performance mission critical data centre facilities.

The combined company employs professionals with deep experience and capabilities in data centre design, development, and facility operations.  It expects to invest further capital to expand its footprint of wholesale and custom-build hyperscale solutions to more than 300 MW over the next two years to become one of the largest independent third-party data center platforms in Asia.

Jonathan Zhu, co-head of Asia Private Equity for Bain Capital, said: “This deal demonstrates Bain Capital’s capabilities as a truly cross-regional, multi-asset class investment platform.  The combined entity brings together the best minds to power the Asian data revolution, especially in China and India, the two largest and most promising markets globally. ChinData Group will be able to move quickly to serve customers on a pan-Asian regional basis and build a differentiated position in the market.”

Barnaby Lyons, a Managing Director and Head of Asia for Bain Capital Credit, said: “This transaction showcases that Bain Capital, with both private equity and special situations teams, can provide a wide spectrum of solutions to businesses in Asia looking for growth capital.”

About Bain Capital

Bain Capital (www.baincapital.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s and Bain Capital Credit’s global teams of more than 475 investment professionals create value for its portfolio companies through its depth of expertise in key vertical industries and global distressed and special situations platforms. Bain Capital has offices in Boston, Chicago, New York, Palo Alto, San Francisco, Dublin, London, Munich, Madrid, Luxembourg, Melbourne, Mumbai, Hong Kong, Shanghai, Sydney, Seoul, Guangzhou and Tokyo. Bain Capital invests across asset classes including private equity, credit, public equity, venture capital and real estate, managing approximately USD 105 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

Bain Capital’s proven operational expertise and ability to leverage a fully integrated global team presents a significant advantage for companies looking to identify and execute opportunities to tap into Asia’s high growth markets. Bain Capital works with companies in Asia to achieve their full potential and drive value through operating improvements, growth strategies, M&A and carve-outs from larger corporate partners, such as the recent acquisition of Toshiba Memory Corporation from Toshiba.

About ChinData

ChinData specializes in delivering campus-style hyperscale data centres to Internet, cloud and technology companies in China. It owns and operates data centres in Shenzhen, Beijing, Zhangjiakou and Datong, with further expansion planned across multiple locations. The company has pioneered custom-build designs suited to hyperscale customer requirements.  Founded in Beijing and formerly owned by Wangsu Science and Technology Co, ChinData focuses on the planning, investment, construction, testing and operation of high-performance information infrastructure.

ChinData is an industry-leading carrier neutral IT infrastructure solutions provider in China, focused on ecosystem planning, design, building, testing and operations. ChinData provides a full range of services for its customers, such as campus-style data centers, internet services and IT value-added business. Its customers include leading financial, internet, big data, AI enterprises as well as global hyper-scale cloud computing and technology companies.

Since its establishment in August, 2015, ChinData has rapidly built a cluster of hyper-scale IT infrastructure bases around the capital, the Yangtze River Delta, and the Greater Bay Area, with Beijing, Shanghai, and Shenzhen as core end markets, and more than 220 operators’ data rooms in China. In the above-mentioned regions, the company is involved in the development of the most basic level of infrastructure and resources. Its hyperscale data center ecosystem is an engine for development of renewal energy and the green economy.

ChinData’s world-class “edge computing data centers” and “hyperscale data centers” have respectively won the first Global HRA certificate for flexible internet solutions, the 2018 DCD Award for Global Edge Computing Data Center Innovation and the 2019 DataCloud Global Hyper-scale Innovation Award.

About Bridge Data Centres

Bridge is a wholesale and custom-build data centre solutions provider whose customers include large global enterprises and hyperscale cloud and technology companies with rapid expansion plans across the region. The company owns data center facilities in Malaysia and India while pursuing additional opportunities in Southeast Asia.  Established in 2017 to invest in greenfield projects in the India market, Bridge serves customers in multiple industry sectors, including financial institutions, technology companies, government and more recently large cloud services providers, with best-in-class operating and maintenance procedures to ensure the highest levels of uptime and reliability.

 

Categories: News

Tags:

Wireless Logic Group eyes major European growth as France-based Matooma joins the group

Montagu

Wireless Logic Group, Europe’s leading IoT connectivity platform provider today announced the acquisition of Matooma, the Montpellier, France-based IoT connectivity specialist which has grown rapidly since its inception in 2012. Today, Matooma is recognised for its expertise and innovation within the cellular IOT (Internet of Things) connectivity space, with a broad base of customers using their secure network solutions across multiple applications.

The Matooma acquisition, for an undisclosed sum, is Wireless Logic’s third major purchase in 2019 having already welcomed Dutch-based M2MBlue and SIMPoint in February and June respectively. The three new organisations join the UK-headquartered IoT connectivity platform provider as it continues to deliver rapid expansion throughout its European network. With Matooma on board, the group has an increased presence in France working alongside Wireless Logic’s existing Aix-en-Provence team, and will enhance its European reach which includes offices in Denmark, France, Germany, Netherlands and Spain. The group’s European focus with global reach is backed by Montagu Private Equity who came on board in June 2018.

Commenting on the most recent acquisition, Oliver Tucker, Group CEO of Wireless Logic Group said: “We are delighted to be welcoming the Matooma team into the group. In just seven years, they have built an enviable reputation in France by delivering highly responsive and tailored IoT connectivity services, supported by exceptionally strong leadership. Over the coming months our integration programme will enable the group to enhance our best-in-class connectivity platform solutions to which Matooma will play a significant role, particularly within their core markets.”

On behalf of Matooma, founder and CEO Frédéric Salles said: “The success of Matooma has been based around the innovative use of secure mobile technology, a winning approach to nurturing long-lasting mobile network partnerships and in the strength and character of the Matooma team – our people have been so fundamental to where we are now today. Our journey so far has been short, fast-moving and with every opportunity seized. We are looking forward to combining our strengths with Wireless Logic and together building an even more exciting future as we develop and evolve the IoT connectivity market across France and further afield.”

Categories: News

Tags:

Gimv and other shareholders sell biopharmaceutical company Breath Therapeutics to Zambon after a fast development

GIMV

25/07/2019 – 08:00 | Portfolio

Today, Gimv, Sofinnova and Gilde Healthcare announced the sale of biopharmaceutical company Breath Therapeutics. Specialising in advanced and first-in-class inhalation therapies for severe respiratory diseases, Breath Therapeutics collected around EUR 43.5 million in one of the largest start-up financing rounds in 2017. With the support of the investors, two global Phase III trials are currently underway for inhalation therapy solutions for bronchiolitis obliterans syndrome (BOS), an orphan lung disease with fatal outcome and no therapies approved. The strategic buyer is the Italian family-owned pharmaceutical and chemical company Zambon.

In March 2017 Gimv and Sofinnova Partners (France) led an investment in Breath Therapeutics. Other investors included Gilde Healthcare (Netherlands) and PARI Pharma as the licensor of the inhalation devices. In addition to financial resources, Gimv was instrumental in supporting Breath Therapeutics with its expertise during the spin-off process, the setup of a syndicated financing structure, and during the implementation of both strategy and streamlined internal processes. By bringing in this external expertise, Breath Therapeutics was able to grow their in house innovation into a mature therapy and to establish an excellent expert team in Europe and USA.

Dr. Karl Nägler, Partner and responsible for Life Sciences within Gimv’s Health & Care team, says: “ We are pleased about the successful development of the company over the last two years, as Gimv has played a key role in the strategic alignment and setup of the platform for growth right from the start. The potential impact of Breath Therapeutics and the drug was apparent to us at an early stage, since lung diseases are unfortunately becoming more common at a dramatic rate – especially due to environmental factors and changing lifestyle habits. Breath Therapeutics – with the help of Zambon – is well-positioned for successfully further developing and marketing the product in the future and expanding into new fields of application.”

Dr. Jens Stegemann, Chief Executive Officer of Breath Therapeutics, commented: “At Breath Therapeutics, we have created a product capable of changing lives around the world. In Zambon, an ethical company with a strong heritage of innovation and a genuine commitment to a patient-orientated approach, we have a partner who shares our vision. We have advanced a potential first-in-class therapy for BOS, just started two global Phase III studies, to a strong position but with Zambon’s infrastructure, expertise and commitment to R&D, we have the chance to expedite the process of bringing this critical treatment to as many patients as possible, as soon as possible. We thank our former partners Gimv, Sofinnova and Gilde Healthcare for supporting us in the important first few years, while we were taking the first steps towards developing our business.”

This exit has an immediate positive impact of around EUR 20 million on the Net Asset Value of Gimv as of 31 March 2019. Gimv has realised a return on this investment which is far above its long-term target of 15%.

For more information on this transaction, we refer to the attached press release of Zambon.

Categories: News

Tags:

The Carlyle Group and Stellex Capital Management to Acquire, Merge Maritime and Defense Companies Vigor Industrial and MHI Holdings

Carlyle

The Carlyle Group and Stellex Capital Management to Acquire, Merge Maritime and Defense Companies Vigor Industrial and MHI Holdings

Transaction to Create Bicoastal Platform of Scale Serving Defense and Commercial Customers

NEW YORK, NORFOLK, Va., PORTLAND, Ore. & WASHINGTON – Global investment firm The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management today announced a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia.

The combined company will create a bicoastal leader in critical ship repair services and commercial and defense-related fabrication services. Key customers include the U.S. Navy, U.S. Coast Guard, Military Sealift Command, Boeing, cruise lines, fishing fleets, barges and ferry services for local and state governments, and other key commercial and defense customers.

The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter 2019. Financial terms were not disclosed.

Frank Foti, President and CEO of Vigor, said, “Through this transaction, Vigor gains responsible, forward-thinking investors who will seek to build on our current platform while maintaining a values-driven culture. In addition, we are excited to join forces with a company of MHI’s caliber which has a history of delivering strong results and shares our mission to serve the people who protect our country every day. This evolution takes us where we want to go, growing sustainable jobs into the future.  I’m excited to be an investor in this adventure and to be a part of what’s to come.”

Tom Epley, President and CEO of MHI, said, “MHI is stronger than it has ever been, and we’ve successfully executed our strategy of delivering cost effective maintenance and repair solutions to the U.S. Navy, a job we take very seriously.  We are excited to continue our partnership with Stellex and look forward to working with The Carlyle Group and our new colleagues at Vigor.  The MHI leadership team and our 800 employees across MHI Ship Repair, Seaward Marine and Accurate Marine remain committed to our mission.”

Derek Whang, Principal at The Carlyle Group, said, “We look forward to working with our partners at Stellex, Vigor and MHI to create a stronger combined company of scale, capable of providing differentiated, coast-to-coast services to the U.S. Navy, U.S. Army and other defense, infrastructure, and maritime customers.  Together, Vigor and MHI are well positioned with their unique, national assets to grow in the highly attractive ship repair and fabrication markets, supported by compelling sector dynamics.”

David Waxman, Managing Director at Stellex Capital, said, “We are thrilled to have partnered with the MHI management team to grow the business over the last four years, including through the acquisitions of Accurate Marine and Seaward Marine, and look forward to working with the combined management teams as we expand our geographical and customer mix.  MHI’s commitment to its customers and its employees has been the foundation of its growth, and we welcome the partnership with Carlyle and Frank Foti in this next stage.”

The Carlyle Group will become majority owner of the combined company. Equity for the investment will come from the Carlyle U.S. Equity Opportunity Fund II, a $2.4 billion fund that focuses on middle-market and growth companies in the United States and Canada. As part of the transaction, Stellex Capital, MHI’s existing owner, will contribute new equity to the platform, while Vigor’s CEO Frank Foti will roll a portion of his existing Vigor ownership stake into the combined company.

A CEO search is underway for the new company. Tom Rabaut, former President and CEO of United Defense and a current Operating Executive at The Carlyle Group, and Admiral James Stavridis, a retired 4-star U.S. Navy officer, former NATO Alliance Supreme Allied Commander, and a current Operating Executive at The Carlyle Group, will both join the Board of Directors. Mr. Foti will also join the Board of Directors as Vice Chairman and will continue as Vigor’s CEO until a new CEO is retained. Tom Epley will continue to lead the MHI business.

Vigor Industrial LLC, majority-owned by CEO Frank Foti, is a provider of complex fabrication and ship repair services. It employs 2,300 people and operates eight drydocks across the Pacific Northwest and Alaska, including the largest floating drydock in North America. Vigor excels at ship repair, specialized shipbuilding, and other complex fabrication projects in support of aerospace, defense, and infrastructure end markets. While the company is widely known for building ferries, it also builds high-performance military craft for the United States and other allied foreign governments.

MHI Holdings LLC, owned by Stellex Capital, is a leading provider of full-range ship maintenance, repair, and modernization services to the U.S. Navy and Military Sealift Command in Norfolk, Virginia. MHI also provides hull cleaning, ship husbandry services, underwater painting and inspections, wastewater treatment, and chemical cleaning services globally. MHI is one of the only private shipyards in Norfolk that can service large surface combatants and amphibious ships.

Latham & Watkins LLP served as legal advisor to The Carlyle Group and Stellex Capital Management. DLA Piper served as legal advisor to MHI Holdings LLC and Stellex Capital Management. BofA Merrill Lynch, BNP Paribas, and Credit Suisse have agreed to provide debt financing for the transaction. Capstone Headwaters served as exclusive financial advisor to Vigor Industrial LLC, and K&L Gates LLP served as Vigor’s legal advisor.

Categories: News

Tags:

Tile Secures $45 Million to Advance Embedded Partnerships, International Growth, Product and Service Expansions

Franciso Partners

Investment, Led by Francisco Partners, Comes as Company Posts Strong First Half Results

SAN MATEO, Calif., — Tile, the world’s leading smart location company, today announced the closing of its Series C fundraising round, with a minority growth investment led by Francisco Partners, a global technology-focused private equity firm. The investment will accelerate plans to expand Tile’s embedded partnerships whereby third party products become findable just like Tile’s popular first party devices. The investment will also allow Tile to grow more aggressively internationally, expand into new product categories, and enhance its Premium service to deliver more peace of mind to its growing community of users.

The announcement comes as Tile posts strong results in early 2019, including growing sell-through in Europe by 160% in the most recent quarter, as well as more than doubling unit sales on Prime Day in the United States. The Company also reports that sign-ups for its Premium service, launched in October 2018, have significantly exceeded initial expectations and will be a key focus going forward.

Tile has grown substantially in recent years as customers increasingly rely on the technology to do more than find lost keys: users now depend on the popular service to remind them if they’ve left for work without their laptop, locate lost luggage, find the family cat hiding in the backyard, and even to keep track of the jacket a child may frequently leave behind. The Company’s growth coincides with a time when daily life is becoming more hectic, leaving the average person spending nearly a year of their lifetime looking for misplaced items.

“Millions of users already trust us to safeguard their belongings and find misplaced items — we will continue to deliver on that promise and more,” said CJ Prober, CEO of Tile. “This investment ushers in a new chapter for Tile: with new products and expanded partnerships, we can better solve the everyday pain point of losing or misplacing the things that matter most to our global customer base.”

This investment comes as Tile reaches a tipping point with its embedded strategy which began with product partners like Bose, Skullcandy and Sennheiser, and continues to grow with semiconductor partners like Qualcomm, Nordic and Dialog, resulting in millions of Tile-enabled third party devices in several new verticals by the end of this year.

“Tile pioneered the smart location category,” said Andrew Kowal, Partner with Francisco Partners. “With Bluetooth technology projected to be included in nearly 30 billion devices shipping in the next five years, Tile is poised to deliver an embedded finding solution for a rapidly expanding market. We are extremely excited to be partnering with Tile as the company enters the next chapter of its growth story.”

Tile also raised a portion of the Series C investment from existing investors GGV Capital and Bessemer Venture Partners, as well as new investors Bryant Stibel and SVB Financial Group.

About Tile

Tile gives everything the power of smart location. Leveraging its vast community that spans 230 countries and territories, Tile’s cloud-based finding platform helps people find the things that matter to them most. The global Tile community helps locate more than five million unique items every day. The company is based in San Mateo, CA and is backed by Francisco Partners, Bessemer Venture Partners, and GGV Capital. For more information, please visit Tile.com.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com.

About Bryant Stibel

Bryant Stibel was founded in 2013 to provide strategic, financial, and operational support to businesses with a focus across technology, media, and data. The Bryant Stibel platform is unique in that it combines the creative vision of Kobe Bryant, one of the world’s most well known and respected sports icons, with Jeff Stibel, a proven market-driven operator and serial entrepreneur, alongside a team of proven public and private company executives. The team has extensive experience operating technology and data-driven businesses, as well as deploying capital through its growth and venture platforms. For more information, please visit www.BryantStibel.com.

About SVB Financial Group

For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group’s businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world. Learn more at www.svb.com.

Categories: News

Tags:

Alvic Group welcomes investment from KKR and Arta Capital

KKR

KKR and Arta will support Alvic in its international expansion plans

Spain, 23rd of July 2019: Alvic Group reached an agreement on the terms of an investment from KKR, a leading global investment firm, and Arta Capital, a Spanish midmarket private equity firm sponsored by the financial and investment group Grupo March.

Alvic is a leading Spanish panel and componentry manufacturer for kitchen and office furniture with more than 70% of its revenues coming from outside Spain. The current team led by Javier Rosales will continue managing the company.

Founded in Vic (Catalunya) in 1965 as Madetres, by Alejandro Rosales, the company started as a small manufacturer of custom-sized kitchen furniture. Today, Alvic owns and operates four state-of-the-art manufacturing facilities across Spain (in Andalusia and Catalonia) and a recently inaugurated 30,000 square metre manufacturing plant in Auburndale, Florida. In addition, the group plans to open new manufacturing capabilities in Alcaudete, Andalusia and one in Solsona, Catalonia for flat pack furniture.

The group’s offering has extended through the kitchen value chain selling high-end laminated panels, finished components (doors and cabinets), ready-to-assemble custom-sized furniture, and finished products through multiple channels such as partner-distributors, DIY retailers, direct to manufacturers and a network of 28 “Alvic Centers.” Additionally, the group sells office furniture under the brand “Ofitres,” and readymade kitchen/bathroom furniture under the brand “Faro.”

KKR and Arta will support the Rosales family in its next generation of innovation and international expansion by leveraging the new investors’ extensive experience, network and reach. The transaction builds on KKR’s successful track record in Spain and globally of working with family-led businesses to support their growth objectives and further scale their businesses. KKR has invested over $5 billion in Spain since 2010 across multiple asset classes including private equity infrastructure and real estate, supporting leading Spanish businesses. Arta Capital is one of the most active investors in the Iberian market with €800 million under management, and having successfully invested in 14 leading companies since 2008.

Alvic, with the support of its new investors, will continue its strategy of building its strong industrial innovation and will leverage the brand through its new US manufacturing facility, which will serve as the cornerstone to deliver Alvic’s high quality and design products into a highly attractive and growing market.

With its new investors, the company will be focused on investing in its commercial excellence capabilities for its core markets, continued investment in functional innovation and design and the opening of new facilities.

KKR and Arta have been impressed by Alvic’s industrial and commercial capabilities and are excited for the opportunities that lie ahead.

KKR’s investment will be made through its European private equity funds.

About Alvic Group
Founded in 1965 in Catalonia, Spain, the Alvic Group is a leading manufacturer and distributor of cabinetry and furniture panels for home and commercial use. Through its brands, among which are Alvic, Ofitres or Madetres, it provides home and office solutions to its customers in 97 markets. A family-led business, Alvic began expanding into new markets in 2011 through the opening of new distribution points in the United States, Canada and Australia. Since its founding, innovation has been at the heart of the business and products, and the company has been recognized as one of the “500 most innovative companies in Europe” by the Enterprises 500 Awards. In its more than fifty-year history it has received additional awards including the Golden Palustre of APCE for its track record, and the IDEAL Awards for the Company of the Year in the field of economics, among others. For more information, please visit https://www.grupoalvic.com/es/.

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 Arta Capital
Arta is a Spanish midmarket private equity firm sponsored by Corporación Financiera Alba/March Group. During the last 10 years, Arta has successfully invested in 14 leading Iberian companies. Arta Capital, with €800 million under management, is currently investing from its second fund, Arta Capital II. For additional information, please visit www.artacapital.com

Categories: News

Tags:

The Carlyle Group Enters into Agreement to Sell Evernex to 3i

Carlyle

Paris, France – Global investment firm The Carlyle Group (NASDAQ: CG) today announced it has reached an agreement to sell Evernex, a major global provider of third-party maintenance (“TPM”) services for data-center infrastructure and critical IT assets, to 3i Group plc (“3i”). The investment in Evernex was made by Carlyle Europe Technology Partners III (CETP), a pan-European fund focusing on telecoms, media and technology (TMT). The transaction is subject to legal and regulatory approvals, and is expected to close in Q4 2019.

Under Carlyle’s stewardship, Evernex – formerly known as Cap Vert Finance – has pursued a strategy based on three growth pillars: focus on third-party maintenance services; institutionalization and industry consolidation. Over the last four years, the group has more than trebled its maintenance activities through an aggressive international development plan taking the number of offices around the globe from 17 to 33 and the number of employees from 230 to 550. In this process, the company has strengthened its management and infrastructure under the new leadership of Stanislas Pilot. With the backing of Carlyle, Evernex has played an important role in the consolidation of the TPM industry through five acquisitions in France, Spain, Brazil and Argentina.

Stanislas Pilot, CEO at Evernex stated: “Carlyle has been a key partner in Evernex’s growth story over the past 4 years, and we would like to thank the CETP team for all the support they have given to the group. The fruits of our ambitious strategy and our unique customer engagement model have been reflected in our growth in key geographic zones, notably in EMEA and Latin America. We look forward to continuing our development with our new majority shareholder and partner, 3i, who will support our next phase of growth across global markets.”

Vladimir Lasocki, Managing Director and Co-Head of the CETP investment advisory team at The Carlyle Group, said: “We are proud to have been a strategic partner in the formation of the Evernex group over the last 4 years. Evernex stands out for its flexible customer engagement model and its truly global footprint. They have combined solid fundamentals in this buoyant segment of the IT market with the intelligent deployment of the group’s capacities as a consolidation platform. This has brought about the construction of an indispensable TPM global player with leading market positions in Europe and Latin America, and a significant presence around the world. The investment is a great example of the strategies we put in place within CETP portfolio companies. It has been a real pleasure to work with Stanislas and his team over this period and we are confident that Evernex will continue to prosper in the coming years under 3i’s ownership.”

ENDS

About Evernex:
Evernex is a French headquartered company, which specializes in the maintenance of global IT infrastructure and offers a comprehensive range of services from maintenance to Spare as a Service – SpaaS ™, as well as additional services such as recycling, secure data disposal, data center removal and relocation, library repair, IT hardware rental, and financial solutions.

Evernex offers services 24 hours a day, 7 days a week, at all customer sites worldwide to ensure business continuity and operational quality for users, all through a process of environment protection and sustainable development. Evernex carries out three-quarters of its service activities internationally and covers more than 160 countries across the world. The group has achieved a consolidated turnover of close to $220 million in 2018. The majority shareholder in Evernex is The Carlyle Group (NASDAQ: CG), an international investment firm,

More information at www.evernex.com/

About The Carlyle Group:
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of March 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of our investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,725 people in 33 offices across six continents.

Web: www.carlyle.com
Videos: https://www.youtube.com/user/OneCarlyle
Tweets: http://www.twitter.com/onecarlyle
Podcasts: http://www.carlyle.com/about-carlyle/market-commentary

Media contacts:

The Carlyle Group
Catherine Armstrong
+44 207 894 1632
Catherine.armstrong@carlyle.com

Dominic Riding
+33 (0)6 48 57 83 24
carlyle@steeleandholt.com

3i
Kathryn van der Kroft
+44 20 7975 3021
kathryn.vanderkroft@3i.com

Catherine Kablé
+33 (0)1 44 50 54 75
catherine.kable@kable-communication.com

Categories: News

Bridgepoint exits Estera

Bridgepoint

Inflexion Private Equity is pleased to announce that it is supporting the acquisition of Estera, a leading global provider of funds, corporate and trust services from Bridgepoint. Following completion of the investment, Estera will be merged with Inflexion’s existing portfolio company Ocorian, forming a global corporate service and fund administration leader of significant scale.

The combined business will operate from 18 key global jurisdictions, including Bermuda, Cayman, Guernsey, Ireland, Jersey, Luxembourg and Mauritius. The businesses will have over 1,250 professionals globally, serving over 8,000 clients across the corporate service, fund administration and private client sector. Together, Ocorian and Estera, will provide a complete range of services to clients with multi-jurisdictional needs. In particular, Ocorian clients will benefit from Estera’s established North American presence (Bermuda, BVI and Cayman), while Estera clients will be able to leverage Ocorian’s strong links to the Middle East and Africa.

Farah Ballands, Estera Chief Executive, said: “This is a really exciting next step for our business and everyone who works for it. We are delighted that we will be combining with Ocorian, which with Inflexion’s support, will help us develop and grow the business even further. We look forward to implementing an ambitious joint growth plan.”

Stuart Layzell, Ocorian Chief Executive, commented: “This is a landmark transaction for Ocorian.  Together both businesses will be able to offer an enhanced service to their clients wherever they are located. The whole team looks forward to working with the team at Estera to take the enlarged business forward.”

Simon Turner, Managing Partner, Inflexion, commented: “Since carving out Ocorian from Bedell Cristin in September 2016, the business has successfully completed four acquisitions, significantly diversifying its client offering geographically. The combination of Ocorian and Estera is truly transformational, creating a global, market leading business of significant scale and we look forward to partnering with both teams to accelerate the growth of the joint business.”

William Paul, Partner and Head of Bridgepoint’s financial services team, commented:

“Estera has a reputation for high quality, client-centric services, and the expertise to deal with the complex needs of its clients. Alongside a strong management team, we have helped the business build market leadership positions globally across its product portfolio and accelerated investment in its platform as well as in selective acquisitions. We wish the company and its team continued success under its new ownership.”

This investment was made by affiliated funds advised by Inflexion Private Equity Partners LLP.

The transaction is subject to regulatory approval.

Categories: News

Tags: