Category Archives: News

The Carlyle Group to Make Strategic Investment in Aerospace Company NORDAM

Carlyle

Investment will accelerate growth and support strategic plan

New York, NY and Tulsa, OK – Global investment firm The Carlyle Group (NASDAQ: CG) and family-owned aerospace company NORDAM today announced that The Carlyle Group has agreed to make an equity investment in The NORDAM Group, Inc., an aerospace manufacturing and repair company. Carlyle’s equity, along with new debt financing, will fund NORDAM’s exit from Chapter 11, de-lever the business and position the company for continued growth. The Siegfried family will retain its 50-year ownership and oversight of the business, and continue to lead the company forward. Carlyle’s equity will come from Carlyle Strategic Partners IV L.P.

Founded in 1969 by the Siegfried family’s late patriarch, aerospace-industry leader Ray Siegfried II, NORDAM is an aerospace manufacturer and provider of critical maintenance, repair and overhaul services (MRO) to the business, commercial and military aviation end-markets. With highly differentiated composites capabilities, NORDAM is committed to the superior performance and quality of its products as well as its customer-centric approach to MRO services. The company provides services to a global customer base through its nine strategically-located operations and customer support facilities on three continents.

“This is an important milestone for NORDAM as we exit Chapter 11 and embark on our next chapter of growth,” said Meredith Siegfried Madden, Chief Executive Officer of NORDAM. “We are thrilled to partner with Carlyle and look forward to working together to continue providing world-class products and services to our valued customers and enhancing flight safety globally. With Carlyle’s deep industry, operational and financial expertise, we believe we will be well positioned to execute on our strategic plan, expand our business and take advantage of the many growth opportunities that lie ahead.”

Shary Moalemzadeh, Managing Director and Co-Head of Carlyle Strategic Partners, said, “We are excited to partner with NORDAM’s outstanding management team and support the high-quality business they have built over the past 50 years. NORDAM has a stellar reputation for providing industry-leading products and services across global aviation end-markets. With this investment and the support of Carlyle’s global platform, we are confident that the company will have the right capital structure and resources to continue its legacy as a best-in-class aerospace manufacturer and provider of MRO services.”

Evan Middleton, Managing Director of Carlyle Strategic Partners, said, “NORDAM has established itself as a key partner to the U.S. military and business and commercial customers around the world. As a respected, differentiated provider of aerospace products and services, we see significant opportunities for continued growth, both organically and through acquisitions. We look forward to working closely with the NORDAM team to scale the business, expand into new end-markets and further develop the company’s composites capabilities – creating value for all stakeholders.”

The transaction is expected to close early in the first half of 2019, subject to Bankruptcy Court approval and satisfaction of customary closing conditions, including regulatory approval.

* * * * *

About NORDAM

Founded in 1969 on family values with multiple, strategically-located operations and customer support facilities around the world, Tulsa-based NORDAM is a leading independently owned aerospace company. The firm designs, certifies and manufactures integrated propulsion systems, nacelles and thrust reversers for business jets; builds composite aircraft structures, interior shells, custom cabinetry and radomes; and manufactures aircraft transparencies, such as cabin windows, wing-tip lens assemblies and flight deck windows. NORDAM also is a major third-party provider of maintenance, repair and overhaul services to the military, commercial airline and air freight markets. Learn more about NORDAM at NORDAM.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 $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.

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

Media Contacts

The Carlyle Group:
Devin Broda
Sard Verbinnen & Co.
+1 (212) 687-8080
Carlyle-SVC@sardverb.com

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ARI Announces Strategic Growth Investment from TA Associates

TA associates

MILWAUKEE – ARI Network Services, Inc. (“ARI”), a provider of software and marketing solutions to dealers, equipment manufacturers and distributors in select vertical markets, today announced it has received a strategic growth investment from TA Associates, a leading global growth private equity firm.

True Wind Capital, a San Francisco-based private equity firm that completed a take-private transaction of ARI in August 2017, will remain the largest shareholder in the company. Financial terms of the transaction were not disclosed.

Founded in 1981, ARI provides lead-generation, e-commerce, digital marketing, electronic catalog and dealer management solutions to dealers in end markets such as power sports, outdoor power equipment, marine, recreational vehicle, tire and wheel, aftermarket auto service, appliances and home medical equipment. The company’s suite of products are mission critical in helping dealers drive sales and manage operations. ARI has offices throughout the United States and around the globe.

“We are thrilled to complete an investment in ARI and help build upon the company’s outstanding record of supporting dealerships’ end-to-end technology needs,” said Ashutosh Agrawal, a Managing Director at TA Associates who will join the ARI Board of Directors. “We are confident that ARI is well positioned to continue to grow organically and through strategic add-on acquisitions, and look forward to contributing additional resources to support the ongoing momentum of the company.”

“ARI was built on the basis that manufacturers, distributors, dealers and service providers deserve premier solutions to automate and enhance their businesses,” said Roy W. Olivier, President and Chief Executive Officer of ARI. “In keeping with our roots, we believe it is critical to have value-add partners in place who are aligned with and supportive of our mission and goals. With True Wind retaining a significant stake in the business and TA Associates coming on board as a new partner, we feel fortunate to have two highly regarded investors at our side as we seek to continuously innovate and improve our suite of data-powered technology tools to enable our customers to drive sales. It is a pleasure to welcome TA to the ARI family.”

“We have thoroughly enjoyed our relationship with the entire ARI team since we successfully took the company private 18 months ago,” said Adam Clammer, a Founding Partner of True Wind Capital. “We are delighted to continue our relationship with ARI and are eager to begin working collaboratively with TA to help the company in its next phase of growth.”

In addition to Ashutosh Agrawal, Nicholas D. Leppla, a Vice President at TA Associates, will join the ARI Network Services Board of Directors.

About ARI Network Services
ARI Network Services, Inc. (ARI) offers an award-winning suite of SaaS, software tools and marketing services to help dealers, equipment manufacturers and distributors in selected vertical markets Sell More Stuff!™ – online and in-store. Our innovative products are powered by a proprietary data repository of enriched original equipment and aftermarket electronic content spanning more than 17 million active part and accessory SKUs and 750,000 equipment models. Business is complicated, but we believe our customers’ technology tools don’t have to be. We remove the complexity of selling and servicing new and used vehicle inventory, parts, garments and accessories (PG&A) for customers in the automotive tire and wheel aftermarket, power sports, outdoor power equipment, marine, home medical equipment, recreational vehicles and appliance industries. More than 23,500 equipment dealers, 195 distributors and 3,360 brands worldwide leverage our web and eCatalog platforms to Sell More Stuff!™ For more information on ARI, visit arinet.com.

About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target 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 growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $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.

About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind is a value-added partner, providing support and expertise that is rooted in 75+ years of collective investing experience. True Wind’s founding partners have successfully invested more than $15 billion of equity in transactions with over $75 billion of value across a variety of industries, geographies, economic cycles and transaction types. True Wind targets investments in which they partner directly with management teams to support their pursuit of market leadership and its investment professionals have completed more than 50 platform investments. Visit www.truewindcapital.com for more information.

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BC Partners Completes Acquisition of United Group, South Eastern Europe’s Leading Cable, Telecoms and Media Group

 

 

One of the largest single foreign direct investments in South Eastern Europe

London and Amsterdam, 04 March 2019 – BC Partners, a leading international investment firm, today announced the completion of the acquisition of majority ownership of United Group B.V. (“United Group”) from KKR, following the receipt of all necessary regulatory approvals. KKR and United Group’s management team will retain a substantial minority stake.

Founded in Serbia, and headquartered in Amsterdam, United Group is the leading independent media and communication services provider across South East Europe. Through significant investments in digital infrastructure, content and proprietary technology, it provides market-leading services to its customers across the region. Over the past 18 years the Group has expanded its presence through both organic growth and acquisitions, now employing over 4,400 staff and providing services to over 1.8 million homes.

Nikos Stathopoulos, Partner at BC Partners said: “We are delighted to have completed this transaction with United Group’s management team and KKR, and look forward to supporting the company’s next phase of growth. United Group is a high-quality asset, with defensive growth characteristics, leading infrastructure, differentiated content and a growing base of loyal customers. Its attractive and integrated business model and regional leadership position provide an excellent platform for further organic growth and strategic acquisitions across Europe.”

Since its investment in 2014, KKR has supported United Group’s efforts to build the company into the leading provider of communications and media services in South Eastern Europe. United Group’s fibre and cable networks have the largest presence in the region, covering 1.8 million homes which benefit from broadband speeds over 2.4x higher than local peers and high quality local and international content.

Jean-Pierre Saad, Managing Director at KKR said: “We are proud of the many achievements of United Group over the last five years. It is a great example of a truly convergent operator across communications and media with market leading product innovation and services. We will remain closely committed to the further development of United Group and are looking forward to working with BC Partners and the management team to further strengthen the company’s growth.”

Morgan Stanley and LionTree acted as advisers to BC Partners while Credit Suisse advised United Group.

Media contact:
BC Partners – Prosek Partners
Pro-BCPartners@prosek.com
+44 (0)20 8323 0475

KKR
Alastair Elwen
Finsbury
alastair.elwen@finsbury.com
+44 (0)20 7251 3801

About BC Partners

BC Partners is a leading international investment firm with over €20 billion of assets under management in private equity and private credit. Established in 1986, BC Partners has played an active role in developing the European buy-out market for three decades. Today, BC Partners executives operate across markets as an integrated team through the firm’s offices in North America and Europe.
Since inception, BC Partners has completed 105 private equity investments in companies with a total enterprise value of €130 billion and is currently investing its tenth private equity fund. For more information, please visit www.bcpartners.com.

About KKR 

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

About United Group

Founded in 2000, United Group is the leading multi-play telecoms and media provider in South East Europe, providing customers with a full range of telecommunications services. It has the broadest network coverage in the region and offers customers an unrivalled selection of content, from local offerings to the best selection from across the globe. United Group operates in six countries (through brands such as SBB, Telemach, and United Media, and channels such as SportKlub, Nova TV and N1TV) plus a global OTT service, reaching 3.74 million subscribers in 1.8 million homes, employing 4,400 people.

United Group’s international investors include KKR and now BC Partners as the majority investor.

www.united.group/about/

KKR

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KKR Expands Renewable Energy Portfolio through Investment with NextEra Energy Partners

KKR

NEW YORK–(BUSINESS WIRE)–Mar. 4, 2019– KKR today announced the signing of a definitive agreement with NextEra Energy Partners, LP (NYSE: NEP or “NEP”) to acquire an equity interest in a newly-formed partnership with NEP that owns a geographically diverse portfolio of ten utility scale wind and solar projects across the United States, collectively consisting of approximately 1,192 megawatts.

“We’re excited to partner with NextEra, a world class renewable energy developer and operator, on this portfolio of high quality contracted wind and solar assets,” said Brandon Freiman, Member of KKR and Head of the Firm’s Infrastructure business in the Americas. “This diverse portfolio of ten fully-operational renewable energy projects, all of which benefit from long-term contracts with investment grade customers, is an excellent addition to our portfolio.”

KKR has a track-record of investing in renewable energy, with significant capital deployed in renewable assets including more than 4 GW of installed renewable capacity. KKR invests in infrastructure assets on a global basis, with $12.6 billion in assets under management within its Infrastructure strategy.

KKR’s investment will be in the form of an equity interest in a newly-formed structured partnership with NEP in which NEP has certain rights to acquire KKR’s interest over time at pre-determined return levels between 3.5 and 7.0 years after the formation of the partnership. KKR’s share of partnership cash flows increases to 99% in the event that such call options are not exercised within certain milestones. KKR’s $900 million investment will be funded via a mix of new term loan financing and equity from its third Global Infrastructure Investors fund, which closed in September 2018 with $7.4 billion in commitments.

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.

Source: KKR

Media:
Kristi Huller or Cara Major
Tel: + 1 (212) 750-8300
media@kkr.com

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Creating a high-end offshore accommodation player – Merger of Master Marine and Crossway Holdings

Nordic Capital

Master Marine AS and Crossway Holdings, both leaders in offshore accommodation services, have agreed to merge operations. The merger will be executed through the formation of a new holding company majority owned by Nordic Capital and with Paragon Outcomes Management LLC being a significant minority holder. The current holding companies of Master Marine and Crossway Holdings will be owned 100% by the new joint company. The Group will build upon its successful track record of 100% uptime performance and solid contract backlog to create a top-tier accommodation services business.

“We are delighted by the continued strong support from Nordic Capital and welcome Crossway Holdings and Paragon to the Group,” said Bjorn Henriksen, CEO of Master Marine AS. ”We look forward to continue to build on the solid platform this combination provides us for the future”.

Following completion of the merger, the Group will hold two high end accommodation jack-up rigs, Haven and Crossway Eagle, currently contracted to Equinor and Total respectively. In addition, the Group will control a further high-end accommodation jack-up rig currently under construction at DSIC Offshore in Dalian, China which will be available for contracting in 2019.

The current management team of Master Marine will be appointed management of the Group.

“We are extremely pleased that Nordic Capital and the management team of Master Marine AS embody our own vision to thoughtfully build a premier accommodation business over the next several years,” said Frank Tripoli, Managing Partner and Chief Investment Officer of Paragon Outcomes. Henrik Bakken, Director at the Advisor to the Nordic Capital Funds, further commented “Master Marine has over the last decade set the benchmark for offshore accommodation on the Norwegian Continental Shelf. Together with Paragon Outcomes and Crossway Holdings we now enthusiastically commence the journey toward becoming the preferred and leading high-end accommodation provider”.

The merger is subject to customary approvals. Closing of the merger transaction is expected during Q2 2019.

About Master Marine AS
Master Marine AS is a Norwegian accommodation provider, with a strong track record in providing safe, efficient, reliable and comfortable accommodation services. The company has since commencement of services provided clients with 100 % uptime and strong HSE results.

About Crossway Holdings
A leader in offshore jack-up accommodation. Crossway Holdings owns two accommodation jack-up rigs, the Crossway Eagle and Crossway Dolphin, offering dual-use features in accommodation and construction support. For more information, visit https://www.crosswayholdings.com.

About Nordic Capital
Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 13 billion in over 100 investments. The most recent fund is Nordic Capital Fund IX with EUR 4.3 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds and vehicles are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

About Paragon Outcomes Management LLC
Founded in 2009 and based in New York City, Paragon Outcomes Management LLC is a SEC-registered private investment firm focused on real assets and credit-oriented investments. For more information, visit https://www.paragonoutcomes.com.

 

Media contacts:
Master Marine AS
Bjørn Eie Henriksen, Chief Executive Officer
Tel: +47 941 30 432

Nordic Capital
Katarina Janerud, Communications Manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

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Sivantos and Widex successfully complete merger: new company to operate as WS Audiology

eqt

  • Global top three contender with revenues of EUR 1.7 billion and a comprehensive sales and distribution platform in more than 125 markets
  • Jørgen Jensen, until now CEO of Widex, appointed CEO; Wolfgang Ollig, Sivantos’ current CFO, appointed CFO of WS Audiology
  • Thomas Ebeling, Chairman of the Board of Directors of Sivantos, appointed Chairman of the Board of Directors of WS Audiology; Jan Tøpholm, Chairman of Widex A/S, appointed Deputy Chairman
  • Ignacio Martinez, to date CEO of Sivantos, will join the Board of Directors

Lynge/Denmark and Singapore – March 1, 2019: EQT funds, owners of Sivantos Pte. Ltd. (“Sivantos”), and the Tøpholm and Westermann families, owners of Widex A/S (“Widex”), today announced the successful completion of the business combination between Sivantos and Widex. The newly created company will operate under the name WS Audiology and be headquartered in Lynge, Denmark and Singapore.

The successful merger between two leading hearing aid companies has created a strong player with combined revenues of more than EUR 1.7 billion, over 10,000 employees and one of the strongest R&D teams in the industry. WS Audiology is driven by a passion to improve the quality of life for more than 700 million people with hearing needs. Together, the two pioneers have a combined experience of more than 170 years and will redefine the competitive landscape in the more than 125 countries they are present in.

WS Audiology will be led by a highly experienced management team with a balanced representation from both Sivantos and Widex. Jørgen Jensen, until now CEO of Widex, will head the new company as Chief Executive Officer. Before joining Widex in 2013, he spent 15 years at Nilfisk-Advance, the last eight of which as President and CEO. He previously worked for McKinsey.

Wolfgang Ollig, Sivantos’ current CFO, will continue in the same position at the new company. Prior to joining Sivantos in 2016, he held the role of CFO at Hella, one of the world’s leading automotive suppliers, for 10 years. Like Jørgen Jensen, he started his career at McKinsey.

Thomas Ebeling, Chairman of the Board of Directors of Sivantos, has been appointed Chairman of the Board of Directors of WS Audiology. Jan Tøpholm, up to now Chairman of Widex, will take on the role as Deputy Chairman. Ignacio Martinez, to date CEO of Sivantos, will join the Board of Directors, and Henrik Bender, until now CFO of Widex, will lead the integration process.

“Today marks the beginning of a great new journey. Two pioneers joining forces with one clear ambition: to expand access to hearing aids and care to serve the millions of people with hearing needs across the world. This merger gives WS Audiology the scale and innovation capabilities to deliver on this goal. We are setting out to excel with best-in-class products and accelerate our shared growth across all our brands. The future holds great opportunities and together, as one team, we will be able to seize the momentum we have gained,” said Jørgen Jensen, CEO of WS Audiology.

“Both Widex and Sivantos have been at the forefront of innovation in the industry. Together, WS Audiology has abundant resources to create excellent products and further accelerate innovation with creative, high-tech and easy-to-use products and services, broadening the choice for hearing aid users,” said Thomas Ebeling, Chairman of the Board of Directors of WS Audiology.

“As WS Audiology takes shape today, we are one big step closer to becoming the clear innovation leader, developing the best possible hearing aids to improve the life of those with hearing needs. We are united by our proud heritage, our long history as ‘first movers’, and our insatiable curiosity that drives our innovation and technology,” said Jan Tøpholm, Deputy Chairman of the Board of Directors of WS Audiology.

WS Audiology will offer a diverse portfolio of technologically advanced hearing aid products and services. With its brands Signia, Widex, Rexton, Audio Service and others, WS Audiology addresses the needs of the millions of people with hearing requirements.

Going forward, WS Audiology will accelerate its growth, strengthen its market penetration and enhance efficiencies to enable additional investments in R&D and the supply chain. This will allow the company to expand access to hearing healthcare via its dedicated salesforce, increasing the quality of life for millions of people and allowing them to experience the world of sound to the fullest.

This press release is translated into multiple languages for information purposes. In case of a discrepancy, the English version shall prevail.

Contacts

  • Andrew Arnold (Corporate Communications): + 45 25 65 75 47
  • Gert van Santen (Corporate Communications): +49 152 028 743 20
  • EQT (Press office): press@eqtpartners.com | +46 8 506 55 334

About WS Audiology
WS Audiology was formed in 2019 through the combination of Singapore-headquartered Sivantos with Lynge/Denmark-based Widex. Today, the business employs more than 10,000 people worldwide, is active in more than 125 markets and has revenues of more than EUR 1.7 billion annually. WS Audiology offers a diverse portfolio of technologically advanced hearing aid products and services across its brands Signia, Widex, Rexton, Audio Service and others. WS Audiology is owned by the Tøpholm and Westermann families and funds under the management of global investment firm EQT as well as the Strüngmann family.

More info: www.wsaudiology.com

About EQT
EQT is a leading investment firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to

achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

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The Carlyle Group Acquires Stake in SBI Life

Carlyle

Mumbai – Global investment firm The Carlyle Group (NASDAQ: CG), today announced it has acquired a 9% stake in SBI Life Insurance Company Ltd. (SBI Life, NSE: SBILIFE), a private life insurance company in India. SBI Life is the life insurance subsidiary of the State Bank of India (SBI, NSE: SBIN). Carlyle’s equity for this investment came from CA Emerald Investments, an affiliated entity of Carlyle Asia Partners V, Carlyle’s flagship US$6.55 billion fund focused on buyout and strategic investments across a range of sectors in Asia Pacific.

Following this transaction, BNP Paribas Cardif and CA Emerald Investments now own 12.8% and 9.0% of the company, respectively, while SBI remains the majority shareholder with a 62.1% stake in the company.

Dinesh Kumar Khara, Managing Director, Global Banking & Subsidiaries, SBI, said, “We are pleased with the tremendous strides made by SBI Life in establishing its position in the life insurance industry and appreciate the support given by BNP Paribas Cardif in this journey. We are also thrilled to welcome Carlyle, with whom we have an existing relationship through SBI Card, and look forward to its support to SBI Life in bolstering its franchise in the country.”

Sanjeev Nautiyal, Managing Director and CEO of SBI Life, said, “We are delighted to have Carlyle, a highly-regarded long-term investor, as a shareholder of the company. Carlyle’s trust in the company will further strengthen our resolve to enhance our leadership position in India’s life insurance industry through a single-minded focus on quality customer experience.”

Sunil Kaul, Managing Director of the Carlyle Asia Buyout advisory team, said, “The life insurance industry in India has strong growth potential thanks to favorable demographics and an increasing focus on financial savings. SBI is the most trusted brand in financial services, with an unparalleled nationwide branch network and a commitment to providing convenient access to quality financial services to every Indian. SBI Life, led by a strong management team, is helping deliver this promise in the life insurance space and is well-positioned to further benefit from industry trends. We are excited about the company’s growth prospects and proud to have this opportunity to support the journey.”

“I thank SBI for the quality of our partnership over the last 18 years in building together SBI Life, a strong life insurance franchise. We continue to be highly optimistic about the company’s future,” said Renaud Dumora, CEO of BNP Paribas Cardif.

Carlyle has invested in the financial services industry in Asia Pacific for 20 years, deploying more than US$4 billion of equity in more than 15 private equity investments as of December 31, 2018. In India, Carlyle’s recent investments in financial services include PNB Housing Finance Limited and SBI Card.

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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, 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. Carlyle employs 1,625 people in 31 offices across six continents.

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

 

About BNP Paribas Cardif

World leader for creditor insurance1, BNP Paribas Cardif plays an essential role in the lives of insured customers, providing them with savings and protection solutions that let them realize their goals while protecting themselves from unforeseen events. As a committed enterprise, BNP Paribas Cardif strives to have a positive impact on society and make insurance accessible to the largest possible number of people. In a world shaped by the emergence of new uses and lifestyles, the company, a subsidiary of BNP Paribas, has a unique business model anchored in partnerships. It co-creates solutions with almost 500 partners distributors in a variety of sectors (banks and financial institutions, automotive companies, retailers, telecommunications companies, energy companies, Independent Financial Advisors and brokers…) who then market the products to their customers. BNP Paribas Cardif is a recognized global specialist in personal insurance, serving 100 million clients in 35 countries with strong positions in three regions – Europe, Asia and Latin America. BNP Paribas Cardif also plays a major role in providing financing for the economy. With over 10,000 employees worldwide2, BNP Paribas Cardif had gross written premiums of €29.7 billion in 2017.

Follow the latest news about BNP Paribas Cardif 

@bnpp_cardif

 

Media Contacts:

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

Adfactors
Manibalan Manoharan
Phone: +91 22 6757 4275
Email: manibalan.manoharan@adfactorspr.com

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Segulah IV L.P. divests CCS Healthcare

Segula

On March 1, 2019, Segulah IV L.P. and minority shareholders signed an agreement to divest 100% of CCS Healthcare Holding AB to KiiltoClean Group. KiiltoClean Group is a part of Kiilto, a family-owned Finnish company that develops, manufactures and markets chemical industry solutions and operates in four business areas: construction, industrial bonding and hygiene solutions, professional cleanliness and hygiene and consumer products. The transaction was simultaneously carried through.

CCS Healthcare provides hygiene and safety products to the professional business-to-business markets and holds the leading position within hand hygiene and surface disinfection products in the Nordic region. Additionally, the Company holds a strong position within portable eyewash products in Denmark and Germany.

CCS Healthcare was acquired by Segulah IV in May 2011. During Segulah IV’s ownership, CCS Healthcare has completed four add-on acquisitions, mainly within the hygiene product segment. In March 2016, CCS Healthcare divested its pharma portfolio and Clinomyn brand to Trimb Healthcare. The Consumer Skincare business unit was divested through two separate transactions in January 2019. The skincare brand portfolio was acquired by Trimb Healthcare and the factory and contract manufacturing activities in Sweden were acquired by Svenska Krämfabriken. Pro forma for the Consumer Skincare divestment, CCS Healthcare generated revenues of ca. MSEK 440 in 2018.

“CCS Healthcare has in recent years significantly transformed its operations and showed good profitable growth. Following the successful divestment of the Consumer Skincare business unit, the industrial merit of combining CCS Healthcare with Kiilto is evident, creating a Nordic powerhouse positioned for future growth”, says Dario Aganovic, CEO of CCS Healthcare.

”We are very pleased with how CCS Healthcare has performed over the past years under the leadership of the current management team. We are convinced that Kiilto as a new owner will be able to further develop CCS Healthcare’s strong position across key Nordic and European markets”, says Sebastian Ehrnrooth, Chairman of Segulah Advisor AB.

 

 

For further information please contact:

Dario Aganovic, CEO, CCS Healthcare, +46 72 555 11 01

Sebastian Ehrnrooth, Chairman, Segulah Advisor AB, +46 73 360 42 05

Johan Möllerström, Director, Segulah Advisor AB, +46 72 543 79 11

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KnowBe4 to Receive Significant Investment from KKR

KKR

Leading Security Awareness Training Platform Valued at More than $800 Million
 

TAMPA BAY, Fla., March 1, 2019 /PRNewswire/ — KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, today announced that it has entered into an agreement to receive a sizable minority investment from leading global investment firm KKR, with participation from Ten Eleven Ventures.  The investment, which values the company at over $800 million, comes off the back of an exceptional 2018 for KnowBe4, which reached $120 million of bookings and revenue growth of 110 percent.

“KKR is an important strategic partner for KnowBe4 as we continue to grow worldwide and bring new-school security awareness training to new markets,” said Stu Sjouwerman, CEO of KnowBe4. “We have had 23 straight quarters of explosive growth and there is no slowing down. All organizations need to invest in the human side of their security defenses and there is no better way to build their capabilities than to continually train and test them on the constantly evolving threats that they will be exposed to.”

According to the 2018 Verizon Data Breach Report, phishing and pretexting represent 98 percent of social incidents and 93 percent of breaches. KnowBe4 helps organizations reduce their risk of an attack by educating users to recognize, report and avoid threats. KnowBe4’s market-leading approach to security awareness training and simulated phishing tests is designed to help employees make smarter security decisions. By building a ‘human firewall’ of users, KnowBe4 customers have an added line of defense on top of security technologies that cannot protect organizations by themselves. KnowBe4 continually produces fresh content, combined with simulated phishing tests, to continually educate users about threats such as phishing, malware and social engineering. KnowBe4’s platform is used by more than 23,000 organizations across a variety of industries, including highly regulated fields such as finance, healthcare, energy, government and insurance.

“We’ve seen global spending on cyber security solutions grow to $48 billion, yet despite this investment, breaches, and the severity of these breaches, continue to be on the rise – over 90 percent of which involve inadvertent human error. We believe employees represent an organization’s first and last line of defense. That is exactly why we are so excited to be investing in KnowBe4, the leading cyber security solution that goes beyond the infrastructure and prioritizes empowering employees to make smarter security decisions,” said Stephen Shanley, Director at KKR.

“We are thrilled to be working with a world-class management team who has consistently over-delivered and with the company’s existing investors, Elephant and Goldman Sachs, who have done a great job positioning the business for scale,” added Patrick Devine, Principal at KKR.

KKR will be making its investment through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services. KnowBe4 expects to use the funds to strengthen the company’s international expansion and to further invest in adding to their suite of highly innovative security training modules.

“Cyber security training that helps every employee do his or her part to defend against attacks, especially as related to preventing the sophisticated spear phishing attacks we’re currently seeing, is more critical than ever. For the multitude of companies grappling with how to educate their workforce on how to best identify and protect against persistent threats, KnowBe4 offers an effective solution that results in dramatic risk reduction and ROI,” said Mark Hatfield, Founder and General Partner at Ten Eleven Ventures.

About KnowBe4
KnowBe4, the provider of the world’s largest integrated security awareness training and simulated phishing platform, is used by more than 23,000 organizations worldwide. Founded by data and IT security expert Stu Sjouwerman, KnowBe4 helps organizations address the human element of security by raising awareness of ransomware, CEO fraud and other social engineering tactics through a new-school approach to security awareness training. Kevin Mitnick, internationally recognized computer security expert and KnowBe4’s Chief Hacking Officer, helped design KnowBe4’s training based on his well-documented social engineering tactics. Tens of thousands of organizations worldwide trust KnowBe4 to mobilize their employees as their last line of defense.

Number 96 on the 2018 Inc. 500 list, #34 on 2018 Deloitte’s Technology Fast 500 and #2 in Cybersecurity Ventures Cybersecurity 500. KnowBe4 is headquartered in Tampa Bay, Florida with European offices in England, the Netherlands, Germany and offices in South Africa and Singapore.

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 @KKRCo.

About Ten Eleven Ventures
Ten Eleven Ventures is the original venture capital firm focused solely on investing in digital security. The firm invests globally and benefits from its full investment spectrum view of digital security from seed to growth (via its Joint Investment Alliance with KKR Technology Group.) Since its founding in 2015, Ten Eleven Ventures has raised nearly $500m and invested in over fifteen leading cybersecurity companies including Cylance, DarkTrace, Optiv, Ping Identity, Twistlock, and Verodin. For more information, visit http://www.1011vc.com.

Contacts

For KnowBe4:
Sarah Hawley
(480) 292 4640
sarah@mockingbirdcomms.com

For KKR:
Kristi Huller or Cara Major
(212) 750 8300
media@kkr.com

For Ten Eleven Ventures:
Megan Dubofsky
mdubofsky@1011vc.com

 

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CDPQ to invest over INR 1800 crores (approximately US$250 million) in Edelweiss NBFC

Cdpq

  • CDPQ enters into an agreement to invest into ECL Finance, the NBFC arm of Edelweiss
  • CDPQ will partner in the long-term strategy to build a strong credit portfolio, with an increasing focus on the retail segment.
Edelweiss Group announced today, that CDPQ Private Equity Asia Pte. Ltd., a wholly owned subsidiary of Caisse de dépôt et placement du Québec (“CDPQ”), one of North America’s largest pension fund managers, has signed an agreement to invest over INR 1800 crores (approximately US$250 million) in Edelweiss Financial Services’ non-banking financial company (NBFC) arm, ECL Finance Ltd. (“ECL Finance”). The planned investment by CDPQ would contribute towards establishing a large and diversified credit platform in India. This proposed investment will close after customary regulatory approvals.Edelweiss Group has built a significant competitive position across businesses including the Credit segment. With a credit book of around INR 30,000 crores (approximately US$4.2 billion) (Q3FY19) that is spread across wholesale and retail finance segments, the business has both robust size and scalability. The agreement with CDPQ will enable ECL Finance to capitalize on opportunities in the credit market and confirm the capability of the Group to capture opportunities in the NBFC space.  It provides thrust to the business for technology and digital investments. This investment also ensures that ECL Finance has the requisite resources to maintain strong organic growth, as well as take advantage of any market consolidation opportunities.

Speaking on the development, Rashesh Shah, Chairman and CEO of Edelweiss Group said, “Credit penetration in India will be the key to advancing India’s economic gains, driven by the long-term trends in democratisation of credit, rising household incomes and increased consumption. I expect this partnership to deliver tremendous value towards deepening the market and we are encouraged by this investment by CDPQ to partner with us on this journey”.

Michael Sabia, President and Chief Executive Officer at Caisse de depot et placement du Quebec, stated, “We are glad to strengthen and expand our partnership with Edelweiss Group, with whom we share a common mindset and who has one of the most innovative credit investing platforms in India. This new investment capitalizes on solid growth in the financing demand from SMEs and residential sectors, both of which being key drivers in sustaining India’s future growth”.

The CDPQ partnership with the Edelweiss Group began in 2016 with a significant investment in Edelweiss ARC, India’s largest Asset Reconstruction Company.

Deepak Mittal, CEO of ECL Finance added, “Credit has been our strength and we are well positioned to capitalize on the India opportunity.  At this stage of our expansion, we are excited to join hands with CDPQ to fuel our retail lending business across India. Our competitive edge will come from investments in the direct technology platform and next generation data analytics as we scale across SME, affordable housing, agri-loans and rural finance”.

Edelweiss has built a diversified credit book credit catering to corporate and retail customers. This business has been a significant growth engine for the Group, driven by rapid scale up in retail credit book in the last few years.  With an aim to be closer to customers, the business has now expanded to over 180 locations across the country with plans afoot to double this number in the near future. A string of innovative products and services are also lined up for launch in the latter half of the year. This investment and the deep focus on expanding credit to deserving and underserved markets will propel growth in this business for Edelweiss.

ABOUT EDELWEISS GROUP

The Edelweiss Group is one of India’s leading diversified financial services company providing a broad range of financial products and services to a substantial and diversified client base that includes corporations, institutions and individuals. Edelweiss’s products and services span multiple asset classes and consumer segments across domestic and global geographies. Its businesses are broadly divided into Credit Business (Wholesale & Retail Mortgages, SME and Business Loans, Agri and Rural Finance, Structured Collateralised Credit and Distressed Credit), Franchise & Advisory Business (Wealth Management, Asset Management and Capital Markets) and Insurance (life and general insurance). Edelweiss has an asset base of ~INR 55,800 cr, as of 31st December, 2018. The Group had a revenue of INR 8,623 cr and PAT of INR 890 cr for FY18. The group’s research driven approach and proven history of innovation has enabled it to foster strong relationships across all client segments. The group has sizeable presence in large retail segment through its businesses such as Life Insurance, Housing Finance, Mutual Fund and Retail Financial Markets. Together with strong network of Sub-Brokers and Authorized Persons, Edelweiss group has presence across all major cities in India.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2018, it held CA$309.5 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

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