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Gaw Capital Partners Announces Equity Investment in Series C Financing for Tencent Trusted Doctors

Gaw Capital

April 29, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners announced today that a fund under its management has invested in the new round of financing for Tencent Trusted Doctors, a leading online-offline medical service provider in China combining online doctor-to-patient services with offline facilities.
Tencent Trusted Doctors currently connects 440,000 licensed physicians with 10 million patients on its platform. The online platform is supported by comprehensive brick-and-mortar facilities, with 50 physical clinics and outpatient surgery centers and over 1,000 health kiosks in operation. It aims to solve China’s healthcare pain points by providing an offline diagnosis and referral network, connecting online and offline medical services.
Gaw Capital Partners, having been a long-term strategic partner of Tencent Doctorwork prior to the merger, will continue to support Tencent Trusted Doctors’ expansion of its clinics and day surgery centers across Greater China by looking for suitable locations for leasing, introducing strategic partners, and setting up an asset-backed platform to acquire properties for specialists’ clinics or medical offices.
Tencent Trusted Doctors was founded after the merger between Tencent Doctorwork and Trusted Doctor in August 2018. Tencent Trusted Doctors seeks to provide one-stop solutions for patients via its offline and online platforms, creating China’s largest medical service platform that offers high-quality, personalized and affordable medical and healthcare services. The founders and the management team have a thorough understanding of the online medical service market and extensive experience in managing physical medical treatment facilities. The previous merger of Tencent Doctorwork and Trusted Doctors has created an important combination of knowledge and experience in scaling companies in China.
By 2021, Tencent Trusted Doctors plans to open over 500 clinics and day surgery centers. It is projected that one million practicing physicians will use the Tencent Trusted Doctors platform.
Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said, “Gaw Capital Partners is delighted to invest in this exceptional new economy investment opportunity by not only providing capital but also our integrated resources in sourcing suitable vacant spaces that meet the needs of Tencent Trusted Doctors’ medical business, and help set up health kiosks and health centers to support Tencent Trusted Doctors’ offline expansion plan.”
This latest investment follows the recent decision by the Chinese government to roll out and standardize a series of supportive policies for Internet-related medical care and social medical services in order to open up the healthcare market to the private sector. The policies aim to eliminate the imbalance in how medical resources are used, ease the heavy burden of public hospitals in China, and build a regional healthcare information platform that integrates medical data and resources.
Gaw Capital has over 13 years of experience investing in and turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space, and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.

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Dynamo Software Acquires Preqin Solutions

Franciso Partners

Dynamo expands private equity monitoring and valuation capabilities with the acquisition of leading cloud software provider Preqin Solutions, a subsidiary of London-based Preqin Limited

Dynamo Software, the premier provider of comprehensive cloud software and data solutions for the alternative investment industry, announced today that it has acquired Preqin Solutions, formerly Baxon Solutions. Based in London, Preqin Solutions provides cloud-based software for private equity portfolio monitoring, valuation, performance analysis, and ESG impact design and measurement. The acquisition adds significant value across Dynamo’s existing client base of over 500 private fund managers and allocators that use Dynamo’s CRM, deal management, portfolio monitoring, and investor reporting capabilities.

Preqin Solutions’ software enables a broad range of functionality that speeds the collection, transfer, and analysis of data across a private equity portfolio. Key components include the automation of monthly and quarterly performance data collection from underlying portfolio companies; the ability to seamlessly feed data into valuation, cap table and waterfall models; and the inclusion of key market and performance data from Preqin and other third-party data sources. Preqin Solutions’ market-leading features add a new dimension to the Dynamo platform and are clear differentiators in the marketplace. Importantly, the addition of Preqin Solutions’ global customer footprint and employee base brings unique reach and expertise to Dynamo’s product development and client success teams, significantly expanding Dynamo’s existing London and APAC presence.

Dynamo Software and Preqin Limited maintain a long-standing relationship under which Dynamo has utilized Preqin’s data in its core CRM platform, offering customers the ability to access market participant data easily via browser or mobile device. As part of the acquisition, Dynamo and Preqin Limited are strengthening their partnership to facilitate a seamless transition for Preqin Solutions customers and staff and to ensure that existing and new customers can continue to benefit from the Dynamo platform, Preqin Solutions portfolio tools and Preqin data.

“We are excited to welcome the Preqin Solutions team to the Dynamo family and expand our platform with the unique capabilities their system offers.”, commented Hank Boughner, Dynamo’s CEO. “Preqin Solutions’ cloud software is a perfect complement to Dynamo’s deal management, middle, back office, and LP reporting features and will extend the functionality and services we are able to provide to our clients investing in private assets. We look forward to a long-term partnership with Preqin Limited as we continue meeting the needs of sophisticated customers in the alternative investment space.”

Mark O’Hare, founder and Chief Executive of Preqin, added: “We are very pleased to combine the Preqin Solutions business with the Dynamo cloud platform, and we know that Preqin Solutions clients and employees will be in great hands as part of the global Dynamo family. We look forward to continuing our mutually beneficial partnership by ensuring a seamless transition for all Preqin Solutions customers, and by providing Preqin’s high-quality data for use across the Dynamo client base.”

Chris Ferguson, the current CEO of Preqin Solutions, added, “We are thrilled about what Dynamo can offer the business – this move will be of great benefit to both Preqin Solutions’ employees and customers. Going forward, the business will have the best of both worlds: operating as part of a specialist, best-in-class software house while maintaining close ties and data integrations with a market-leading data provider.”

Specific terms of the deal were not disclosed.

Marlin & Associates acted as exclusive strategic and financial advisor to Preqin.

About Dynamo Software

Dynamo Software has provided industry-tailored, highly configurable investment management, reporting and data management cloud software solutions to the global alternative investment industry since 1998. Dynamo provides SaaS solutions across the private investment landscape including: private equity and venture capital funds, real estate investment firms, hedge funds, endowments, pensions, foundations, prime brokers, funds of funds, family offices, and fund administrators. The Dynamo™ platform has improved the productivity of fundraising, deal, management, research, investor servicing, portfolio management, and compliance teams worldwide. Collectively, Dynamo’s 500+ clients manage over $3 trillion in assets.

For more information about Dynamo Software, please visit www.DynamoSoftware.com.

About Preqin

Preqin is the home of alternative assets, providing industry-leading intelligence on the market and cutting-edge tools to support participants at every stage of the investment cycle. More than 73,000 industry participants in over 90 countries rely on Preqin as their indispensable source of data, solutions, and insights. Preqin’s data and analyses are frequently presented at industry conferences, and is used in the global financial press and academic journals & white papers. Preqin is always happy to support journalists by providing reports, custom data, and one-on-one interviews.

For more information about Preqin, please visit www.preqin.com.

 

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Gimv’s Life Sciences team establishes Advisory Board. Industry veterans Darnaud, Hirth, Kola, Kutay, LeBeaut and Moses joining.

GIMV

29/04/2019 – 17:45 | Portfolio

Gimv announces it has created a Life Sciences Advisory Board. The new Advisory Board consists of 6 seasoned industry veterans with expertise in drug- and medtech development, company building and M&A. Michel Darnaud (former president cardiac surgery at LivaNova), Peter Hirth (former CEO Plexxikon), Ismail Kola (former CSO UCB), Kasim Kutay (CEO Novo Holdings), Alexandre LeBeaut (CSO Ipsen) and Edwin Moses (former CEO Ablynx) will assist the Gimv Life Sciences team with portfolio development, deal sourcing and assessing general industry trends.

Gimv has been active in Life Sciences since 1982, investing in more than 80 companies and generating a consistent top tier IRR. Successes include Ablynx, Plexxikon, Devgen, Covagen, Prosonix and Endosense. Embedded in the broader Health & Care platform, Gimv’s Life Sciences team is looking to invest in European early and late stage biotech and medtech companies in an amount of EUR 10-25 million per company, with funding coming from Gimv’s balance sheet in an evergreen setting. The Life Sciences team, including partners Karl Nägler, Bram Vanparys and Patrick Van Beneden, manages an active portfolio of 11 companies today and aims to expanding this to 15-20 companies over the coming years.

Karl Nägler: “Creating this advisory board highlights Gimv’s ambitions in the biotech and medtech field for the years to come. At Gimv we want to be partners for ambitious entrepreneurs. By establishing our Advisory Board we broaden the network and add value to our portfolio.”

Bram Vanparys adds “We are very happy to establish a close collaboration with these renowned and successful professionals, each of whom has done great things in our industry. With this collaboration, we can further increase Gimv’s value to patients, portfolio companies and shareholders.”

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Canopy Biosciences Acquires Zellkraftwerk GmbH

Simultaneously Closes Strategic Growth Investment from Ampersand Capital to Create a Leading Provider of Genomic and Cell and Tissue Analysis Products and Services

Canopy Biosciences Acquires Zellkraftwerk GmbH

ST. LOUIS — Canopy Biosciences™, LLC, a leading provider of gene editing and gene expression products and services, announced today that it has acquired Zellkraftwerk GmbH, a leader in multiplex cytometry. Leveraging its innovative ChipCytometry platform, Zellkraftwerk offers complete workflow solutions—including both products and research services—for high-content cytometry on cells and tissues. The combination of Canopy and Zelkraftwerk creates a unique “multi-omics” company that boasts a powerful union of genomics expertise with cutting-edge cell and tissue analysis solutions to best support customers in drug development research and biomarker discovery. Concurrent with the acquisition, Canopy closed a strategic growth investment from Ampersand Capital Partners.

Edward Weinstein, Ph.D., co-founder and CEO of Canopy Biosciences, said “I am excited to complete the transformational acquisition of Zellkraftwerk and begin our partnership with Ampersand. Ampersand’s expertise and resources will benefit Canopy as we build a broader product and service offering for our customers, and the Zellkraftwerk acquisition provides a meaningful contribution to this strategy.” Weinstein continued, “Zellkraftwerk founders Jan Detmers and Christian Hennig have built a truly differentiated offering within the cell and tissue analysis market, and we’re excited to add their unique expertise and technology platform to Canopy Biosciences.”

Cofounder of Zellkraftwerk, Jan Detmers added, “As the scientific community continues to appreciate the roles and relationships between genotypes, phenotypes, and the environment, the need for “multi-omic” approaches to biomarker discovery and functional biology research has never been clearer. We are excited to partner with Canopy Biosciences and Ampersand to enhance our capabilities, scale, and geographic reach in the US, Europe, and Asia as we strive to best serve the evolving needs of our customers.”

Frank Witney, Ph.D., Operating Partner at Ampersand and incoming Chairman of Canopy, said, “Ampersand invests in high quality teams who manage rapidly growing businesses with established leadership positions in their specific markets, and Canopy is a great example. We are thrilled to have the opportunity to partner with Ed and the rest of the Canopy management team as they expand their gene editing and genomics analysis portfolio in combination with Zellkraftwerk’s unprecedented multiplex cytometry technology.”

Canopy was formed in 2016 by BioGenerator, the funding arm of BioSTL in St. Louis, MO. Charlie Bolten, Senior Vice President of BioGenerator added “Canopy’s product portfolio is a result of a strategic approach to identify novel technologies and quickly commercialize products and services that will make an immediate impact on today’s biomedical research. BioGenerator is proud to have played a role in the founding of this company and is excited at Canopy’s continued growth prospects in partnership with Ampersand.”

About Canopy Biosciences

Canopy Biosciences was formed in 2016 and has rapidly built a comprehensive platform of products and services for gene editing, gene expression analysis and regulation, and bioprocessing. Canopy’s gene editing portfolio spans easy-to-use CRISPR kits, off-the-shelf cell lines, as well as full service custom cell line engineering. With the introduction of RareSeq, Canopy has added ultrasensitive DNA sequencing to its multi-omics platform including RNAseq, NanoString gene expression analysis, and multiplexed protein detection. Canopy Biosciences is headquartered in St. Louis, Missouri, and serves researchers at universities, research institutions and biotechnology and pharmaceutical companies worldwide. Additional information is available at www.canopybiosciences.com.

About Zellkraftwerk GmbH

Zellkraftwerk GmbH, with its headquarters in Leipzig, manufactures ZellScanner™ ONE, the first device able to analyze more than 100 markers per cell based on the Chipcytometry technology. The device allows for deep insights into formerly unknown cell subpopulations and their state of activation, while its microfluidic chips can be additionally used for sample storage that guarantee biomarker stability for up to 24 months. Zellkraftwerk works closely with top biopharma, diagnostics, and academic scientists performing preclinical and clinical research to enhance their capabilities in sample preparation, biobanking, multiplexed protein and biomarker analysis, and data mining. Additional information is available at www.zellkraftwerk.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of our core healthcare sectors, including Brammer Bio, Avista Pharma, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics and Viracor-IBT Laboratories. Additional information is available at www.ampersandcapital.com.

About BioGenerator

BioGenerator, the investment arm of BioSTL, produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, growing and investing in promising new enterprises. Additional information is available at www.biogenerator.org.

***

Contact:
Kevin Gamber
kevin.gamber@canopybiosciences.com
314-662-9987

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Dynamo Software Acquires Preqin Solutions

Franciso Partners

Dynamo expands private equity monitoring and valuation capabilities with the acquisition of leading cloud software provider Preqin Solutions, a subsidiary of London-based Preqin Limited

Dynamo Software, the premier provider of comprehensive cloud software and data solutions for the alternative investment industry, announced today that it has acquired Preqin Solutions, formerly Baxon Solutions. Based in London, Preqin Solutions provides cloud-based software for private equity portfolio monitoring, valuation, performance analysis, and ESG impact design and measurement. The acquisition adds significant value across Dynamo’s existing client base of over 500 private fund managers and allocators that use Dynamo’s CRM, deal management, portfolio monitoring, and investor reporting capabilities.

Preqin Solutions’ software enables a broad range of functionality that speeds the collection, transfer, and analysis of data across a private equity portfolio. Key components include the automation of monthly and quarterly performance data collection from underlying portfolio companies; the ability to seamlessly feed data into valuation, cap table and waterfall models; and the inclusion of key market and performance data from Preqin and other third-party data sources. Preqin Solutions’ market-leading features add a new dimension to the Dynamo platform and are clear differentiators in the marketplace. Importantly, the addition of Preqin Solutions’ global customer footprint and employee base brings unique reach and expertise to Dynamo’s product development and client success teams, significantly expanding Dynamo’s existing London and APAC presence.

Dynamo Software and Preqin Limited maintain a long-standing relationship under which Dynamo has utilized Preqin’s data in its core CRM platform, offering customers the ability to access market participant data easily via browser or mobile device. As part of the acquisition, Dynamo and Preqin Limited are strengthening their partnership to facilitate a seamless transition for Preqin Solutions customers and staff and to ensure that existing and new customers can continue to benefit from the Dynamo platform, Preqin Solutions portfolio tools and Preqin data.

“We are excited to welcome the Preqin Solutions team to the Dynamo family and expand our platform with the unique capabilities their system offers.”, commented Hank Boughner, Dynamo’s CEO. “Preqin Solutions’ cloud software is a perfect complement to Dynamo’s deal management, middle, back office, and LP reporting features and will extend the functionality and services we are able to provide to our clients investing in private assets. We look forward to a long-term partnership with Preqin Limited as we continue meeting the needs of sophisticated customers in the alternative investment space.”

Mark O’Hare, founder and Chief Executive of Preqin, added: “We are very pleased to combine the Preqin Solutions business with the Dynamo cloud platform, and we know that Preqin Solutions clients and employees will be in great hands as part of the global Dynamo family. We look forward to continuing our mutually beneficial partnership by ensuring a seamless transition for all Preqin Solutions customers, and by providing Preqin’s high-quality data for use across the Dynamo client base.”

Chris Ferguson, the current CEO of Preqin Solutions, added, “We are thrilled about what Dynamo can offer the business – this move will be of great benefit to both Preqin Solutions’ employees and customers. Going forward, the business will have the best of both worlds: operating as part of a specialist, best-in-class software house while maintaining close ties and data integrations with a market-leading data provider.”

Specific terms of the deal were not disclosed.

Marlin & Associates acted as exclusive strategic and financial advisor to Preqin.

About Dynamo Software

Dynamo Software has provided industry-tailored, highly configurable investment management, reporting and data management cloud software solutions to the global alternative investment industry since 1998. Dynamo provides SaaS solutions across the private investment landscape including: private equity and venture capital funds, real estate investment firms, hedge funds, endowments, pensions, foundations, prime brokers, funds of funds, family offices, and fund administrators. The Dynamo™ platform has improved the productivity of fundraising, deal, management, research, investor servicing, portfolio management, and compliance teams worldwide. Collectively, Dynamo’s 500+ clients manage over $3 trillion in assets.

For more information about Dynamo Software, please visit www.DynamoSoftware.com.

About Preqin

Preqin is the home of alternative assets, providing industry-leading intelligence on the market and cutting-edge tools to support participants at every stage of the investment cycle. More than 73,000 industry participants in over 90 countries rely on Preqin as their indispensable source of data, solutions, and insights. Preqin’s data and analyses are frequently presented at industry conferences, and is used in the global financial press and academic journals & white papers. Preqin is always happy to support journalists by providing reports, custom data, and one-on-one interviews.

For more information about Preqin, please visit www.preqin.com.

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The Stephens Group Acquires Sound Seal Holdings, Inc.

Stephens Group

The Stephens Group, LLC announced today that it finalized its acquisition of Sound Seal Holdings, Inc. (“Sound Seal” or the “Company”). Terms of the transaction were not disclosed.

Based in Agawam, Massachusetts, Sound Seal is a leading manufacturer of acoustical noise control solutions, offering the widest product selection in the industry with innovative solutions and outstanding customer service. Sound Seal’s highly engineered products include soundproof doors and windows, noise curtains and barriers, fabric wrapped wall panels, enclosures, specialized floor underlayments and the award winning line of WoodTrends wall and ceiling panels. IAC Acoustics, a division of Sound Seal, is the leading developer and manufacturer of metal HVAC silencers, acoustic louvers, metal soundproof enclosures and highly engineered sound control doors and windows. Sound Seal works in a highly collaborative manner with acoustical consultants, architects, designers, industrial contractors, and building owners to address a wide range of noise control applications across industrial, architectural, medical, retail, entertainment and other end markets.

“We are very excited to add Sound Seal to our portfolio of world class companies,” said Clay Hunter, managing director at The Stephens Group. “Sound Seal is a leader in their industry with a strong and experienced management team in place. There are a number of long-term, systemic forces driving adoption of noise control products in almost every industry, and Sound Seal’s highly engineered products, scale, solutions-oriented reputation and its customer-centric culture uniquely position the company for success in this rapidly growing industry. We are excited to be partnering with Joe and his team to accelerate their growth strategy and look forward to building an enduring relationship with the Sound Seal employees and their customers.”

“The team at Sound Seal could not be more excited to move forward with The Stephens Group,” said Joe Lupone, Sound Seal’s chief executive officer. “The Stephens Group provides Sound Seal with much more than just capital. Their value-added approach to enabling organic and acquisitive growth will help us achieve our strategic vision and build long-term value without the timeline constraints of a traditional private equity investor.”

ABOUT THE STEPHENS GROUP, LLC

The Stephens Group is a private investment firm that partners with talented management teams to help build valuable businesses. Our team has a long history of providing sophisticated, strategic expertise and taking a partnership approach to help companies successfully achieve their strategic visions and build long-term value. With over $1 billion invested since 2006, The Stephens Group targets investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, B2B food and consumer products, and technology infrastructure and tech-enabled services, as well as select opportunistic situations.

For more information, visit www.stephensgroup.com

CONTACT:
Ronald M. Clark
General Counsel
The Stephens Group, LLC
info@stephensgroup.com
501.377.2356

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C ITIC Capital Completes Acquisition of Leading Beauty E commerce Service Provider Hangzhou UCO Cosmetics, Ltd.

Citic Capital

([Hong Kong, 29 April 2019) Private equity arm of CITIC Capital Holdings Limited (“CITIC Capital”) is pleased to announce that it has completed the acquisition of Hangzhou UCO Cosmetics, Ltd., ( “UCO” or “the Company”) from Qingdao KingKing Applied Chemistry Co., Ltd (SZ:002094). This carve-out was completed in partnership with the existing UCO management team, who will continue to lead the Company in its next phase of growth. This is the seventh carve-out deals CITIC Capital has completed within two years (Note 1).
Established in 2010, UCO is a leading digital marketing and e-commerce service provider focusing on the beauty and personal care sector in China. Over the years, UCO has become an indispensable business partner for global and local brands, providing innovative, end-to-end digital solutions and best-in-class e-commerce services that enable the brands to build and grow their business online.

Hanxi ZHAO, Senior Managing Director of CITIC Capital, says: “The beauty sector is one of the fastest growing consumer sectors with e-commerce being the growth engine for many of the global and local beauty brands in the China market. UCO is known for its deep understanding of digital and e-commerce, innovative and technology-enabled solutions, and dedication in quality service. We are very excited to become the partner of Arthur and his talented and passionate management team to continue to build UCO as an instrumental player in the beauty eco-system.”

Arthur CHANG, founder and CEO of UCO, says: “UCO has always strived to be the ultimate, long-term business partner for global beauty brands in China. The management team is committed to continuing to innovate, provide best-in-class services and solutions for our customers, and create pleasant shopping experience for our consumers. With the support from CITIC Capital, we are confident that we will take UCO to the next level together.”

Haiwen & Partners served as legal counsel to CITIC Capital. Bank of China, acting as Mandated Lead Arranger, and China Merchants Bank as Joint Lead Arranger, provided acquisition financing to CITIC Capital and UCO.
Note 1: Recently completed carve-out deals include sauce maker Amoy Food, McDonald’s
business in Mainland China and Hong Kong, sexual wellness company LifeStyles, Wall Street
English, financial information database operator Global Marketing Intelligence Division,
leading supply chain pooling solution provider China Merchants Loscam.

About CITIC Capital Holdings Limited
Founded in 2002, CITIC Capital is an alternative investment management and advisory
company. The firm manages over USD25 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 160 portfolio companies
that span 11 sectors and employ over 850,000 people around the world.
CITIC Capital’s private equity arm, CITIC Capital Partners, focused on control buyout
opportunities globally, has completed over 60 investments in the past years in China, Japan,
U.S. and Europe. The private equity arm currently manages USD7.3 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

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The Carlyle Group Acquires 10% stake in Chinese home textile company Luolai Lifestyle Technology

Carlyle

Shanghai, China – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has acquired a 10% stake in Luolai Lifestyle Technology Co., Ltd., a home textile company in China. Equity for the investment came from Carlyle Asia Partners V, Carlyle’s flagship $6.55 billion Asia fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

Founded in 1992, Luolai is a top player in China’s home textile industry. The company engages in the research and development, design, manufacture and sale of home textile products. Over the past 20 years, Luolai has established a retail network with almost 3,000 stores across 31 provinces and cities in China. It operates under its own brands, such as LUOLAI and LOVO, and has acquired and served as an agent for approximately 20 brands. Luolai was listed on the Shenzhen Stock Exchange in September 2009 (SZSE stock code: 002293).

Jason Xue, President of Luolai, said, “We are delighted to partner with Carlyle and look forward to leveraging the advantages of its global network and deep industry experience. We will work closely with Carlyle to execute new business strategies, further expand and grow our online and offline businesses, and capture future growth opportunities in China’s home textile industry.”

Nina Gong, Managing Director of Carlyle’s Asia Buyout advisory team, said, “Luolai is China’s top home textile provider with a strong and complimentary brand portfolio with high-quality products and an extensive store network. We believe that rising disposable income in China and the ‘consumption upgrade’ process will continue to deliver healthy growth in the home textile industry and for Luolai. We will leverage our expertise and portfolio in the consumer and industrial sectors to help the company expand its store network, enhance supply chain efficiency and brand equity.”

As one of the first and most active international private equity investors in China, Carlyle has invested more than US$9 billion of equity in over 100 transactions in China as of December 31, 2018.

* * * * *

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 $216 billion of assets under management as of December 31, 2018, 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 1,650 people in 31 offices across six continents.

Press Contact:

The Carlyle Group

Tammy Li
Phone: +852 2878 5236
Email: tammy.li@carlyle.com

Citigate Dewe Rogerson

Linda Pui
Phone: +852 3103 0118/ +852 9700 0178
Email: linda.pui@citigatedewerogerson.com

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PayScale Announces Majority Growth Investment from Francisco Partners at an Enterprise Value of $325 Million

Franciso Partners

nvestment Will Help the Cloud Compensation Software Provider Accelerate Growth and Innovation

Seattle, WA and San Francisco, CA – PayScale, Inc., the leading provider of SaaS-based compensation data, analytics and software, announced today a majority investment from Francisco Partners, a global technology-focused private equity fund. This investment will provide PayScale with a new financial partner to build upon the company’s strong momentum and help continue to drive product innovation.

PayScale has grown substantially in recent years as employees and employers alike increasingly demand modern compensation software that enables more data-driven compensation decisions, leading to greater pay transparency and equity. The company’s growth has coincided with the emergence of social movements demanding greater gender and racial equality (both broadly and with respect to the pay gaps that still exist), as well as the increasing scrutiny organizations are under to make their business operations match their recruiting rhetoric. The Seattle-based company pioneered the use of big data and unique matching and prediction algorithms to create the industry’s most advanced compensation platform, which has propelled PayScale to market leadership.

“We have made tremendous progress in delivering our promise to Bring Pay Forward and in the process have established PayScale as the clear market and technology leader in SaaS compensation management solutions,” commented Mike Metzger, Chief Executive Officer of PayScale. “This could not have been possible without the tireless efforts of our employees to drive superior customer outcomes and their dedication to contributing to the PayScale culture. The future of PayScale is bright and we look forward to welcoming Francisco Partners into the shareholder base.”

“Compensation-related friction continues to affect employers and employees globally,” said Adam Solomon, Principal at Francisco Partners. “The changing dynamics of the workforce, including the shift from Boomers to Millennials as the dominant cohort in today’s workplace and the entrance of Gen Z, has made it impossible for CEOs to leave compensation to chance. PayScale helps bridge the disconnect by enabling its more than 8,000 customers to make compensation decisions that are more rooted in data and aligned to business goals than ever before. With this compelling value proposition, PayScale is well-positioned to capitalize on the large market opportunity ahead of the company.”

Peter Christodoulo, Partner at Francisco Partners, added, “We are extremely excited to be partnering with PayScale as the company enters the next chapter of its growth story. The team is focused on its mission of helping companies align their compensation practices with their business goals and of easing the burden of communicating well about compensation to employees, and we look forward to supporting and furthering that vision.”

Warburg Pincus will be exiting its investment in PayScale in this transaction. “We are proud of PayScale’s significant growth over the past five years to become the leading cloud compensation data and SaaS provider in the space,” said Ashutosh Somani, Managing Director, Warburg Pincus. “As growth investors, we feel privileged to have partnered with Mike and the PayScale team and we wish the company continued success in the future,” added Justin Sadrian, Managing Director, Warburg Pincus.

Raymond James & Associates, Inc. acted as exclusive financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to PayScale and its Board of Directors. Kirkland & Ellis LLP acted as legal advisor to Francisco Partners. The transaction is subject to customary closing conditions and is expected to close within the next 15 days.

About PayScale

PayScale offers modern compensation software and the most precise, real-time, data-driven insights for employees and employers alike. More than 8,000 customers, from small businesses to Fortune 500 companies, use PayScale to power pay decisions for more than 23 million employees. These companies include Encana, Patagonia, The New York Times, Sunsweet, T-Mobile, United Health Group, Wendy’s and Perry Ellis. For more information, please visit: www.payscale.com or follow PayScale on Twitter: twitter.com/payscale.

About Francisco Partners

Francisco Partners is an investment firm that specializes in technology and technology-enabled services businesses. Since its launch over 19 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 200 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, please visit www.franciscopartners.com.

About Warburg Pincus

Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds, which have invested more than $74 billion in over 860 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visit www.warburgpincus.com..

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Montagu Private Equity announces the completion of the sale of D.O.R.C.

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announced the completion of the sale of Dutch Ophthalmic Research Center (“D.O.R.C.” or “the Company”), a leading provider of innovative instruments and equipment for ophthalmic surgery, to Eurazeo Capital. Terms of the transaction are not being disclosed.

Established in 1983, D.O.R.C. is a leading provider of innovative instruments and equipment for ophthalmic surgery. The product range includes high precision disposable and re-usable instruments, surgical liquids and surgical machinery that is used for vitreoretinal and cataract procedures. Headquartered in Zuidland, the Netherlands, D.O.R.C. serves a global customer base including surgical centres, hospitals and physicians across the US, Europe, the mid-East, Asia and South America. The Company has more than 500 employees worldwide.

 

The transaction was first announced on 13 March 2019 and has now received clearance from relevant competition and regulatory authorities.

 

Montagu was advised by HSBC and RBC Capital Markets.

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