Category Archives: News

Bridgepoint Credit successfully prices its first European CLO of 2023, as it continues to grow its €12bn credit platform

Bridgepoint

Bridgepoint is pleased to announce that it has priced Bridgepoint CLO V, a new issue Collateralised Loan Obligation (CLO) vehicle totalling €400m. Morgan Stanley served as lead arranger. Bridgepoint CLO V is the first CLO priced by Bridgepoint Credit in 2023, following the pricing of Bridgepoint CLO IV in December 2022. With a four-and-a-half-year reinvestment period, the latest CLO was supported by over 20 of Bridgepoint’s global investor base.

John Murphy, Partner and Bridgepoint’s Head of Syndicated Debt said:

“We are excited to have priced our first CLO of the year and the fifth under our CLO programme, as we seek to take advantage of attractive market conditions for credit investing.  We are grateful for the support shown by our existing investor base, as well as new investors to the platform, as we continue our disciplined approach of constructing high quality portfolios coupled with seeking attractive opportunistic investments as those situations arise.”

With more than €12bn of assets under management in corporate credit across the risk/reward spectrum, Bridgepoint credit is one of Europe’s most experienced credit managers, and focuses on three complementary investment strategies: Direct Lending, Credit Opportunities and Syndicated Debt.

Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity and private debt.

With over €38bn of assets under management and a strong local presence in Europe, the US and China, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

We have a diversified approach to investing across four verticals: Advanced Industrials, Business & Financial Services, Consumer and Healthcare – with Technology as a horizontal connected to everything everywhere.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

Categories: News

Bridgepoint takes a stake in Samy Alliance alongside Aurica Capital

Bridgepoint
  • The deal will accelerate the company’s growth and internationalisation to become a global reference for integrated marketing solutions based on data and creativity. Aurica will retain a 48% stake in the company.
  • The founders and the international management team will continue to lead this new growth phase, with the objective of attaining over €100 million in revenues over the next two years.

 

Samy Alliance, an integrated, social-first technology- and data-enabled digital marketing and communications company, announces that Bridgepoint, has become a shareholder. Aurica Capital remains the company’s key partner with a 48% stake following this deal. The transaction will help the company accelerate achieving the objectives defined in its strategic plan and consolidate its position as the reference player in the digital marketing sector worldwide.

Listed by the Financial Times as one of the 1000 fastest growing companies in Europe for the fourth consecutive year, Samy Alliance, headquartered in Madrid, operates in more than 50 markets with offices in 14 countries and more than 400 employees. The company develops complete digital strategies for brands: research and market intelligence, data and analytics, social media, digital content, creative, influencer marketing, communications, and public relations. It has recently been recognised as a great place to work by being awarded the Happy Index at Work 2023 certification.

Following a 25% increase in turnover in 2022, Samy Alliance reported €50 million in revenues last year through a combination of organic and inorganic growth, geographical expansion into new markets through acquisitions and integration of new services for its clients. The company’s growth plans will be accelerated, both organically and through acquisitions, by Bridgepoint joining Samy Alliance as a minority shareholder alongside Aurica Capital, technology venture builder Jaguar Path Ventures, Inveready Technology Investment Group and Sabadell Venture Capital.

Powering an inorganic growth plan

Since being founded in 2012, Samy Alliance has experienced sustained growth year-on-year, consolidating its position as a leading global player in its sector. The company is currently present in Europe, the United Kingdom and the Americas. The United States is its second largest market in terms of turnover. In fact, the Anglo-Saxon market already accounts for 38% of the company’s revenue. The excellent results achieved by Samy Alliance in recent years reflect the company’s resilience, with a 43% year-on-year increase in EBITDA in its last financial year.

The project, founded over 10 years ago by Patricia Ratia, Marta Nicolás and Juan Sanchez Herrera, will continue to be spearheaded by its international management team in this new phase.

Patricia Ratia, CEO of Samy Alliance in Europe, said:

“This transaction gives us the opportunity to accelerate our ambitious international growth plan, with a focus on the United States and Northern Europe. It also allows us to continue to innovate for our customers and consolidate our position as an industry leader. We remain on track to achieve our goal of exceeding €100 million in revenue within the next two years.”

Hector Perez, Partner at Bridgepoint, said:

“Bridgepoint has extensive experience in the global digital marketing services sector and we truly believe in Samy’s long-term potential. We are delighted to be working with Patricia, Marta, Juan and their exceptional team to support the next phase of growth. Samy is a global, integrated digital marketing services company with a leading position and expertise in the social media ecosystem, ideally positioned to capture the growing demand from blue-chip customers for these marketing services, with a social-first approach.”

Martín Vargas, Investment Director at Aurica Capital, said:

“We are very pleased that Bridgepoint has become a shareholder, as it will bring great value to further drive the successful growth of a company that has a truly differentiated positioning and a highly valued technological edge among the major players in the sector”.

Categories: News

Wireless Logic acquires Webbing

Montagu

Wireless Logic, the leading global IoT connectivity provider has acquired Webbing, a global Mobile Virtual Network Operator (MVNO) providing connectivity for Enterprise Mobility and IoT applications.

Founded in 2010, Webbing provides a leading-edge connectivity service for global customers across sectors including Enterprise Mobility, Automotive and Logistics. It offers a global carrier network that delivers best in class coverage, policy control and enforcement, including compliance with any permanent roaming restrictions, as well as security and other features, all through a single global SIM.

Webbing are market leaders in eSIM technology and have pioneered the shift towards the new GSMA eSIM standards for IoT (SGP.32). Its WebbingCTRL solution leverages SM-DP+ provisioning and enables remote, automatic profile swaps without user intervention. Its fallback module is fully automatic with no MNO actions required ensuring continuous connectivity– a common challenge facing IoT deployments. It also provides centralised management of eSIMs and profiles, simplifying IoT connectivity, reducing costs, and improving time to market. This allows enterprises to leverage connected devices while maintaining full control of their connectivity deployments.

“Webbing exhibited remarkable foresight by recognising the constraints of existing eSIM standards for IoT devices and anticipating enterprise demand for efficient eSIM provisioning solutions,” said Oliver Tucker, CEO of Wireless Logic. “As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence. Furthermore, Webbing’s local presence and partnerships in regions including the US and Asia, will further enhance our ability to deliver a future proof, flexible and fully redundant global connectivity through a single SIM.”

As well as complementing the market segments that Wireless Logic addresses, this acquisition will expand our technology capabilities and offering, particularly as the new GSMA IoT eSIM standard gains prominence.

Oliver Tucker, CEO, Wireless Logic

“We are excited for the path ahead,” said Noam Lando, Co-Founder and CEO at Webbing. “Since our foundation, we have been committed to meeting the needs of global IoT by developing progressive SIM technology, powerful management platforms and a robust network. We believe that device owners deserve tailor-made, rock-solid, future-ready connectivity within their control. With the support of Wireless Logic, we are excited to build on this vision, delivering enhanced benefits to our customers and teams worldwide.”

We are excited for the path ahead. With the support of Wireless Logic, we are excited to build on our vision, delivering enhanced benefits to our customers and teams worldwide.

Noam Lando, Co-Founder and CEO, Webbing

This agreement follows Wireless Logic’s recent acquisitions of IoThink Solutions, Mobius Networks, Jola and Blue Wireless, continuing its strategy of global expansion, service offering enhancement and new routes to market.

Wireless Logic and Montagu were advised by Rothschild & Co. on this transaction. Webbing was advised by Bank of America.

 

Back to News

Categories: News

Tags:

CVC Credit supports NovaTaste’s acquisition and growth strategy

CVC Capital Partners

CVC Credit is pleased to announce that it recently provided senior facilities and a dedicated acquisition facility, to fund PAI Partners’ acquisition of NovaTaste (formerly Savory Solutions Group) , a leading international provider of taste and functional solutions for the food sector, from NYSE-listed International Flavours and Fragrances.

NovaTaste provides a range of savoury ingredients and blends, most notably under the Wiberg and Piasa brands, which are used by food manufacturers, butchers and food service players to improve texture and taste, as well as extend the shelf life of their products. The business operates 17 manufacturing facilities and nine innovation sites, with over 1,800 employees. It serves more than 11,000 clients across Europe, North America and Asia.

Quotes

Our goal at CVC Credit is to support strong and stable businesses backed by experienced financial sponsors and we look forward to supporting NovaTaste and PAI.

John Empson Managing Partner, Co-Head of Private Credit at CVC

Simone Zacchi, Managing Director at CVC Credit, commented: “NovaTaste is a market leader with a clear customer-centric value proposition, and the number one player in the DACH region (Germany, Austria and Switzerland), as well as being top three in other key markets. We are thrilled to be supporting NovaTaste to strengthen their leadership position in the food sector.”

John Empson, Managing Partner and Co-Head of Private Credit at CVC Credit added: “We are delighted to be partnering with PAI Partners once more, having previously backed their investments in Theramex and Scrigno. Our goal at CVC Credit is to support strong and stable businesses backed by experienced financial sponsors and we look forward to supporting NovaTaste and PAI as they work together through this next phase of growth.”

Categories: News

KKR to Acquire Simon & Schuster from Paramount Global for $1.62 Billion

KKR

NEW YORK–(BUSINESS WIRE)– Paramount Global (NASDAQ: PARA, PARAA) and KKR today announced the signing of a definitive agreement pursuant to which KKR will acquire Simon & Schuster for $1.62 billion in an all-cash transaction.

“We are pleased to have reached an agreement on a transaction that delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR,” said Bob Bakish, President and CEO of Paramount Global. “The proceeds will give Paramount additional financial flexibility and greater ability to create long-term value for shareholders, while also delevering our balance sheet.”

After the closing of the transaction, Simon & Schuster will become a standalone private company and will continue to be led by Jonathan Karp, President and CEO and Dennis Eulau, COO and CFO of Simon & Schuster.

“All of the executives at Simon & Schuster who met with KKR came away from those conversations impressed with the depth of KKR’s interest in our business and their commitment to helping us grow, thrive and become an even stronger company,” said Jonathan Karp. “With KKR’s support, we look forward to collaborating on new strategies that will enhance our ability to provide readers a great array of books and to give authors the best possible publication they can receive.”

Simon & Schuster has an outstanding reputation in book publishing, in addition to sustained, strong operating performance and double-digit revenue growth in the first quarter of 2023. KKR expects to advance the company’s position as one of the world’s best-known publishers and distributors with more than 36,000 titles across adult, children, audio and international categories.

In addition to investing in all areas necessary to establish Simon & Schuster as a standalone entity, KKR intends to support numerous growth initiatives, including extending Simon & Schuster’s strong domestic publishing program across various genres and categories, expanding its distribution relationships and accelerating growth in international markets.

KKR will also support Simon & Schuster in creating a broad-based equity ownership program to provide all of the company’s more than 1,600 employees the opportunity to participate in the benefits of ownership after the transaction closes. Since 2011, KKR portfolio companies have awarded billions of dollars of total equity value to over 60,000 non-management employees across more than 30 companies.

“Simon & Schuster’s nearly 100-year history is a testament to the enduring value of creative expression through the written and spoken word. We are thrilled to invest behind Jon and the immensely talented organization at Simon & Schuster to support their mission of delivering marquee content to readers around the world,” said Ted Oberwager, a Partner who leads the gaming, entertainment, media and sports verticals within KKR’s Americas Private Equity business.

Richard Sarnoff, Chairman of Media at KKR, added, “We see a compelling opportunity to help Simon & Schuster become an even stronger partner to literary talent by investing in the expansion of the company’s capabilities and distribution networks across mediums and markets while maintaining its 99 year legacy of editorial independence. We also believe the opportunity to create an ownership culture within one of the world’s top publishers has enormous potential to create value for all of Simon & Schuster’s stakeholders.”

Completion of the transaction is subject to customary closing conditions, including regulatory approvals.

KKR is making its investment in Simon & Schuster primarily through its North America Fund XIII and has secured fully committed financing for the transaction. The investment builds on KKR’s deep experience investing in content-oriented media businesses, including current and prior investments in Epic Games, Mediawan, Leonine Studios, Artlist, Skydance Media, BMG and RBmedia, among others.

LionTree Advisors is acting as financial advisor and Shearman & Sterling LLP is acting as legal advisor to Paramount. Simpson Thacher & Bartlett LLP is acting as legal advisor to KKR.

About Simon & Schuster

Simon & Schuster is a global leader in general interest publishing, dedicated to providing the best in fiction and nonfiction for readers of all ages, and in all printed, digital and audio formats. Its distinguished roster of authors includes many of the world’s most popular and widely recognized writers, and winners of the most prestigious literary honors and awards. It is home to numerous well-known imprints and divisions such as Simon & Schuster, Scribner, Atria Books, Gallery Books, Adams Media, Avid Reader Press, Simon & Schuster Children’s Publishing and Simon & Schuster Audio and international companies in Australia, Canada, India and the United Kingdom, and proudly brings the works of its authors to readers in more than 200 countries and territories. For more information about Simon & Schuster, please visit www.simonandschuster.com.

About Paramount

Paramount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, Paramount’s portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+ and Pluto TV. Paramount holds one of the industry’s most extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, the company provides powerful capabilities in production, distribution, and advertising solutions.

For more information about Paramount, please visit www.paramount.com and follow @ParamountCo on social platforms.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This communication contains both historical and forward-looking statements, including statements related to our future results and performance. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect our current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “foresee,” “likely,” “will,” “may,” “could,” “estimate” or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause our actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: risks related to our streaming business; the adverse impact on our advertising revenues as a result of changes in consumer viewership, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive industries, including cost increases; our ability to maintain attractive brands and to offer popular content; changes in consumer behavior, as well as evolving technologies and distribution models; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of our content; damage to our reputation or brands; risks related to our ongoing investments in new businesses, products, services, technologies and other strategic activities; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and programming; risks related to environmental, social and governance (ESG) matters; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting our businesses generally; the impact of COVID-19 and other pandemics and measures taken in response thereto; liabilities related to discontinued operations and former businesses; the loss of existing or inability to hire new key employees or secure creative talent; strikes and other union activity, including the ongoing Writers Guild of America (WGA) and Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA) strikes; volatility in the price of our common stock; potential conflicts of interest arising from our ownership structure with a controlling stockholder; and other factors described in our news releases and filings with the Securities and Exchange Commission, including but not limited to our most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that we do not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this communication, and we do not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

For Simon & Schuster
Adam Rothberg
Senior Vice President, Corporate Communications, Simon & Schuster
(917) 270-1717
adam.rothberg@simonandschuster.com

For Paramount
Media:
Justin Dini, Executive Vice President, Head of Communications,
(212) 846-2724
justin.dini@paramount.com

Allison McLarty, Senior Vice President, Corporate and Financial Communications
(630) 247-2332
allison.mclarty@paramount.com

Investors:
Kristin Southey, Executive Vice President, Investor Relations
(310) 593-1630
kristin.southey@paramount.com

Jaime Morris, Senior Vice President, Investor Relations
(646) 824-5450
jaime.morris@paramount.com

For KKR
Miles Radcliffe-Trenner and Emily Cummings
(212) 750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

OHB strengthens capital base to implement corporate strategy, Fuchs family remains long term majority shareholder

KKR
  • OHB enters into agreement with KKR as minority investor
  • The Fuchs family will retain permanent control of the company
  • OHB’s growth strategy to be supported by way of a separate 10% capital increase
  • OHB’s portfolio company Rocket Factory Augsburg AG will receive separately EUR 30 million to secure the path to the successful first flight of Microlauncher RFA One
  • KKR plans voluntary public takeover offer for all outstanding shares of OHB at a price of EUR 44.00, the Fuchs family will not sell any shares
  • Company subsequently seeks delisting from the stock exchange

Bremen, 7th August, 2023. OHB SE (“OHB”), the German space and technology company, is strengthening its capital base to implement its growth strategy and, with KKR as a minority investor, to ideally position itself for the growing demand for privately financed, cost-efficient and flexible space travel solutions. The Fuchs family will retain permanent control of the business as majority shareholders. OHB will continue to be led by Marco Fuchs as CEO and the existing management team.

OHB is pursuing the goal of becoming the leading provider of space solutions for institutional and commercial clients in Europe. To this end, OHB has today signed, amongst others, an investment agreement with KKR and the Fuchs Family Foundation as the majority shareholder of OHB, as well as with investment vehicles controlled by the Fuchs family. The agreements include a voluntary public takeover offer for all outstanding shares of OHB at a price of EUR 44.00 per share and a separate agreement on a capital increase of 10%.

Marco Fuchs, CEO of OHB: “Strengthening OHB as an independent, European company and partner for governments and institutions strengthens European security and sovereignty in space. In addition, we can expand our leading technological positions in our core competencies as an infrastructure partner and in the service sector, while also opening up new perspectives for customers and partners. We are delighted that with KKR as a minority investor, we have found the ideal partner to support our long-term growth and vision.”

Investing in long-term growth and the OHB corporate strategy

OHB, which will continue to operate as an independent German family business, will use the capital in line with the long-term corporate strategy “OHB 2025 – Shaping the future” to invest in key growth areas and strengthen competitiveness in the three divisions: Space Systems, Aerospace and Digital. Separately, KKR will, through convertible instruments, invest EUR 30 million in the further development of Rocket Factory Augsburg AG to ensure private sector development of the Microlauncher RFA One through to a successful first flight, thus improving Europe’s independent access to space.

Offer to shareholders and planned capital increase

The voluntary public takeover offer by KKR is expressly welcomed by the Management Board and Supervisory Board of OHB, subject to the customary review. OHB will subsequently seek delisting from the stock exchange so that it can more easily implement its long-term strategy as a privately held company.

The Offer Price will be EUR 44.00 in cash per share. Accordingly, OHB shareholders will receive a premium of 36.6% to the Xetra closing price on 4 August 2023 and 39.1% to the volume-weighted Xetra average price of OHB shares over the past three months respectively. The Offer provides existing shareholders with immediate liquidity and the opportunity to realise the long-term value potential in advance. The Offer will be subject to various customary conditions such as merger control and other regulatory clearances and will not be subject to a minimum acceptance level. KKR has committed to OHB not to conclude a domination and/or profit and loss transfer agreement. The transaction has been initiated by the Fuchs family.

KKR has separately committed to OHB to subscribe to a capital increase of the company at the Offer Price. The share capital of the Company is to be increased by 10% against cash contributions using the authorised capital and excluding the shareholders’ statutory subscription rights.

Christian Ollig, Partner and Head of the DACH region at KKR, said: “The global market for space solutions will continue to grow. We see great potential in Europe and are convinced that with additional investments in Research and Development OHB is ideally positioned to achieve long-term sustainable growth. KKR’s capital will support OHB’s future development. At the same time, the offer provides existing shareholders with the opportunity for immediate value realisation at an attractive premium. KKR is delighted to have the opportunity to support the Fuchs family.”

KKR’s investment comes from a holding company owned by its newest European private equity fund, KKR European Fund VI.

Continuity in ownership structure

The Fuchs family will not sell any of the shares bound in the Fuchs Family Pool as part of the public takeover offer and will thereby retain control of OHB. The company will thus permanently preserve its DNA as an independent German family business.

Further information in relation to the voluntary public takeover offer: www.orchid-offer.com.

Contact:

Investor Relations
Martina Lilienthal
Tel.: +49 421 2020 7200
E-Mail: martina.lilienthal@ohb.de

Media Relations
Kekst CNC

Knut Engelmann
Tel.: + 49 (0)174 2342808
E-Mail: knut.engelmann@kekstcnc.com

Torben Gosau
Tel.: +49 (0)160 96943517
E-Mail: torben.gosau@kekstcnc.com

About OHB SE

OHB is a German space and technology group and one of the leading independent forces in the European space industry. With many years of experience in the realisation of demanding projects, OHB is excellently positioned in international competition and offers its customers a broad portfolio of innovative products in the three divisions: Space systems, Aerospace and Digital. The company employs around 3,000 people and generates a total turnover of around EUR 1 billion.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Important Notice

This release may not be published, distributed or transmitted in the United States of America (including its territories and possessions, any state of the United States and the District of Columbia, “United States“), Canada, Australia, Japan or any other jurisdiction in which the publication, distribution or release would be unlawful.

Distribution of this release may be restricted by applicable law in some jurisdictions and it is important that anyone in possession of this document or the information incorporated in it should inform themselves of and comply with them. Failure to comply with such provisions may constitute a violation of the laws of such countries.

This release constitutes neither an offer nor a solicitation of an offer to purchase securities of OHB or any of its subsidiaries in the United States, Germany or any other country. Neither this publication nor its contents may constitute an offer in any country to be taken as a basis. The securities described above have not been and will not be registered under the Securities Act, as amended (the “Securities Act”) and may not be sold or offered in the United States pending registration or an exemption from the registration requirement under the Securities Act is in place.

In the United Kingdom this release is only directed at persons who are “qualified investors” within the meaning of Article 2 of the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, and who are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (“Order“), or (ii) high net worth corporations and other persons falling within Article 49(2)(a)-(d) of the Regulations who may be lawfully approached (these persons collectively being referred to as “Qualified Persons”). This release is directed only at Qualified Persons and must not be acted on or relied on by persons who are not Qualified Persons. Any investment or investment activity in securities of the Company is available only to Relevant Persons and will be engaged in only with Qualified Persons.

In the member states of the European Economic Area, this release is only addressed to and directed at persons who are “qualified investors” within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (Prospectus Regulation).

No action has been taken to permit the securities to be offered, purchased or this publication distributed in any country where it is not permitted. Anyone into whose possession this publication comes should inform themselves about and observe any restrictions.

This release may contain certain forward-looking statements, estimates, opinions, and forecasts concerning the future business situation, earnings situation, and results of OHB (“forward-looking statements”). Forward-looking statements can be identified by words such as “believe”, ”estimate”, “anticipate”, “expect”, “intend”, “will”, or “should” and their negation and similar variations or comparable terminology. Forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current opinions, forecasts and assumptions of the management board of OHB and involve significant known and unknown risks and uncertainties, therefore actual results, performance and events may differ materially from those expressed or implied by forward-looking statements. Forward-looking statements contained herein should not be construed as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. The forward-looking statements contained in this release are only valid on the date of this publication. OHB will not update the information, forward-looking statements or conclusions contained in this release in light of subsequent events or circumstances, nor will it reflect subsequent events or circumstances or correct inaccuracies that arise after the date of this release as a result of new information, future developments or otherwise, and the company does not assume any obligation to do so. OHB does not assume any responsibility whatsoever that the forward-looking statements or assumptions contained herein will occur.

Categories: News

Tags:

Apollo Impact to Acquire Accent Family of Companies, a Leading Value-Added Distributor and Manufacturer of Baling Wires and Equipment Servicing the Recycling and Waste Management Industries

Apollo
Positions Trusted Brand for Continued Expansion Amid Increasing Focus on Sustainability & Recycling Solutions

NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by its affiliates (the “Apollo Funds”) have completed the acquisition of the Accent Family of Companies (“Accent” or the “Company”), which includes Accent Wire-Tie, Accent Wire-Tie United Kingdom and Accent Building Materials. Accent is a leader in the distribution and manufacturing of baling wires and wire-tier machines, which are core products used in the recycling and waste industries in the U.S., Canada, and the U.K. In addition, complementing its core recycling solutions business, Accent Building Materials is a regional wholesale distributor of building materials serving customers across the Sun Belt in the U.S. Existing investor Crossplane Capital (“Crossplane”) partnered with Accent’s founders, the Sims family, in 2019 to acquire a controlling interest in Accent. Crossplane and the Sims family will retain a minority stake in the Company. Financial terms were not disclosed.

Headquartered in Tomball, Texas, Accent plays a critical role in the recycling and waste management value chain by providing the baling wire, equipment, and services that are central to enabling the economical, efficient, and safe transportation of recycled materials. In doing so, Accent’s products and services contribute to the reduction of both landfilled waste and emissions. Additionally, the recycling and waste industries are resilient throughout economic cycles and can benefit from secular tailwinds including corporate sustainability initiatives, federal and state legislative actions designed to drive an increase in U.S. recycling volumes, and increasing consumer preference for sustainably produced products and packaging.

“We believe Accent is a critical supplier to the recycling industry poised for continued growth and impact, and we see several opportunities to help grow and develop the Company,” said Joanna Reiss, Partner and Co-Head of Impact at Apollo. “We look forward to partnering with Bill and the talented team at Accent to support its expansion globally, which we believe will contribute to the continued adoption of sustainable recycling practices leading to a decrease in landfilled waste and emissions in local communities.”

Bill Sims, CEO of Accent, said, “As we continue to grow Accent globally and capitalize on the opportunity set in front of us, we are delighted to partner with Apollo and the firm’s team of dedicated professionals who recognize the important role we have in driving a more sustainable future. With Apollo’s support, we believe we will be able to reach more customers and drive increased responsible consumption and production globally. We are also grateful for Crossplane’s support over the past four years and look forward to their continued involvement as a minority investor alongside the Apollo Funds.”

Brian Hegi, Crossplane’s Managing Partner, added, “Accent is well positioned to continue its steady growth for years to come as the Company cements its critical role in enabling the recycling process. We look forward to working with Bill, Joanna and their respective teams to expand Accent’s products into both new and existing markets.”

The Apollo Impact platform pursues private equity-like opportunities with the intention of creating positive, measurable social and/or environmental impact while generating attractive risk-adjusted returns. It looks to achieve impact at scale by investing in industry-leading companies that are helping to tackle the most pressing environmental and social challenges. Co-led by Ms. Reiss and Marc Becker, the Impact platform builds upon Apollo’s long-standing track record of engagement on sustainability issues that spans more than a decade.

Apollo was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP, Latham & Watkins LLP, PwC, and the Bridgespan Group.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2023, Apollo had approximately $617 billion of assets under management. To learn more, please visit www.apollo.com.

About Accent Family of Companies

Founded in 1986, Accent is a full service, value-added industrial distribution company focused on the waste / recycling and building materials industries. Through its Wire-Tie division, Accent’s core offerings include baling wire distribution, bale tie manufacturing, wire-tier equipment manufacturing, and wire-tier parts and repair services to waste management providers, material recovery facilities, packaging companies and commercial customers throughout the United States, Canada and the United Kingdom. Through its Building Materials division, Accent is a regional distributor of roofing, concrete, drywall, and acoustical products to the construction industry under the Striker and NATCO brands throughout the west, southwest and gulf coast United States. For more information, please visit http://www.accentfamilyofcompanies.com/.

About Crossplane Capital

Launched in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower-middle market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.

Apollo Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
212-822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
212-822-0491
Communications@apollo.com

Crossplane Contact

Katie Oswald
Managing Director of Business Development
Crossplane Capital
504-957-0014
katieoswald@crossplanecapital.com

 


Primary Logo

Source: Apollo Global Management, Inc.

Categories: News

Tags:

Nordic Capital-backed Prospitalia Group becomes Vivecti Group, Dr. Benjamin I. Behar appointed as new CEO

Nordic Capital

Prospitalia Group has appointed Dr. Benjamin I. Behar as new CEO and will operate under the new brand Vivecti Group.

Prospitalia Group, a leading purchasing service company in the German healthcare market, today announced the appointment of Dr. Benjamin I. Behar as new Group CEO. As lever, catalysator and reliable partner, the companies of the group will in future provide their expertise to healthcare providers and other market participants under the new brand Vivecti Group. The new Group brand reflects the evolved and integrated approach to serve clients as a full service partner for all key challenges in hospitals and adjacent fields.

Dr. Benjamin I. Behar brings a particularly deep understanding of the challenges and management of hospitals. Before joining Vivecti Group, he played a significant role in establishing one of the fastest-growing hospital groups, Artemed SE. From the founding stage of Artemed with three hospitals to a nationally operating hospital group with 18 high-performance hospitals, he was responsible for both, the restructuring and integration of the new hospitals, as well as for purchasing and communications. Prior to that, he worked for McKinsey & Company, advising hospital operators such as Vivantes, the University Medical Center Mainz, and the Klinikverbund Südwest.

“Being the catalyst that helps healthcare providers and other market participants operate more effectively is an immensely fulfilling mission for me, as economic efficiency is the fundamental premise for medical quality, ultimately benefiting the patients. Economic efficiency and medical quality are not contradictory but mutually reinforcing. That’s why the Vivecti Group provides our partners with a comprehensive and integrated range of services and products, enhancing their performance unlike any other corporate group,” said Dr. Benjamin I. Behar.

 

Press contacts: 

For Vivecti Group:
Beilquadrat GmbH I Agentur für Identität und Identifikation
Tel +49 40 8821532-22
E-Mail: Vivecti@beilquadrat.de

About Vivecti Group

As a lever, catalyst and reliable partner, the Vivecti Group, under the leadership of Dr. Benjamin Behar, is the performance partner for healthcare facilities. Founded in 2015 with 450 employees and an annual turnover of 120 million euros over the past five years, the company originally originated from a purchasing group for hospitals founded in 1993. Today, Prospitalia, Pro Care Management, Wawibox, Miralytik, Prospitalia h-trak as well as the companies of WMC and the Hospital Management Group (HMG) belong to the Vivecti Group and thus cover an unparalleled range of products and services in the German market. In this way, healthcare providers are comprehensively supported strategically and operationally in the areas of purchasing and material cost optimisation, digital products and data analytics as well as managed services and consulting – with the aim of helping healthcare facilities to gain new strengths in times of transformation of the entire system. For more information, please visit: www.vivecti-group.com

Categories: News

Tags:

Leia Inc. acquires our portfolio company Dimenco

Kpn Ventures

Acquisition to Accelerate Mainstream Adoption of Immersive Experiences with Expanded Addressable Market.

Menlo Park, Aug 7th 2023 — Leia Inc., the leading provider of 3D display hardware and content services, and the creator of the award-winning 3D•AI Lume Pad 2 tablet, announced today the acquisition of Dimenco, an innovator in the display technology space. This strategic move unites the capabilities of two leaders in the 3D market, set to accelerate mainstream adoption of immersive 3D experiences across platforms and devices.

‍

“We are living in a 3D world, and it’s inevitable that our digital experiences will align with this reality. While VR/AR headsets have their place, the breadth of our technology allows any familiar personal device to offer a seamless, immersive 3D experience,” says David Fattal, CEO of Leia Inc. “Our customers wanted a unified solution across all devices – and this acquisition delivers exactly that.”

By joining forces, Leia and Dimenco will eliminate the existing technological divide, merging the strengths of both companies. Previously, Leia focused on the Android platform catering to the mobile and automotive markets, while Dimenco led on the Windows-based laptops and monitors for professional use. This merger will benefit customers who have been seeking a single, cross-platform solution based on a common industry standard.

Additionally, the robust content ecosystem developed by Leia, which includes 3D video calling  in partnership with Zoom, 3D movie streaming featuring top-tier Hollywood titles, 3D photo sharing, a generative AI platform and games from leading studios like Gameloft, will now be extended to all devices, providing consumers with unparalleled immersive experiences.

“We’re excited to be part of the Leia family and it delivers perfectly on our promise to provide immersive experiences accessible to anyone, anywhere on any device without the need for wearables, “says Maarten Tobias, CEO of Dimenco. “This joint entity is not only setting the industry standard, but it combines cutting edge display technology, an established high volume supply chain and a unique dynamic content ecosystem, both for consumers and professionals.”

Maarten Tobias will join Leia as Chief Commercial Officer, leveraging his industry experience to further consolidate Leia’s position in the market and expedite the integration of teams to meet the rising demand for consumer-friendly 3D solutions.

By taking a quantum leap towards achieving its vision and mission, Leia is setting the stage for a 3D revolution, propelling the industry towards a future where digital interactions are as immersive and intuitive as real-world experiences.

Categories: News

Tags:

DBAG acquires majority stake in TBD Technische Bau Dienstleistungen

Deutsche_Beteiligungs_AG
  • TBD is a leading critical infrastructure construction service provider
  • Range of services is part of the enabler of the energy transition in Germany
  • Management buyout to secure succession

Frankfurt/Main, 7 August 2023. Deutsche Beteiligungs AG (DBAG) invests in TBD Technische Bau Dienstleistungen (TBD), a specialized service provider for critical infrastructure. Via a management buyout (MBO), a fund advised by DBAG will acquire the majority stake from the founders to secure the company’s succession. The founders, Uwe Jahnke and Wilfried Eschen, will remain as minority shareholders, while Uwe Jahnke, alongside TBD’s well-coordinated team, will lead the company solely. This transaction, which is subject to approval by the authorities, is expected to be closed in August 2023. The parties have agreed not to disclose the terms of the sale.

TBD: Seven different business units
TBD is a highly specialised technical construction services provider headquartered in Friedeburg (East-Frisia) and counts as a regional champion in its area focusing on services and testing for critical infrastructure. TBD has a critical strategic geographic footprint since the area of Friedeburg is a key enabler for the energy transition (“Energiedrehscheibe”) following substantial investments into the infrastructure. The company is organised in seven business units and was founded in 2005. More than 350 staff members, generating a total operating performance worth 36.1 million euros (2022), are employed at six locations, thereof more than 250 in Friedeburg. TBD enjoys a high reputation among its customers. Projects such as the connection of the LNG terminal in Wilhelmshaven, for which TBD carried out the weld seam tests as an accredited testing laboratory, underline the company’s reputation, experience, and competencies.

TBD’s growth prospects are promising and mainly driven by the ongoing transition towards alternative energy sources and the overall transformation in terms of new energy infrastructure for private and commercial accommodations. DBAG’s broad experience in the area of industrial services will come to bear while TBD is heading towards its next stage of growth.

“Driven by the shift towards alternative energy sources and the derived demand in the market, TBD is in a strong position with a very promising trajectory ahead. Furthermore, we see strong prospects to accelerate growth. And with our comprehensive experience, we can contribute to an enhancement of TBD’s competence profile and a further diversification of its client portfolio”, said Jannick Hunecke, Member of the Board of Management of Deutsche Beteiligungs AG.

Wilfried Eschen, Managing Director of TBD, who will retire soon, explained: “Just like we are a reliable partner to our clients, DBAG turned out to be a reliable investor to us already. With DBAG and its fund, we will take advantage of the team’s experience and network.

“Due to DBAG’s knowledge, new opportunities will arise, which will fertilize our business, and hence benefit our clients as well as our team”, said Uwe Jahnke, Managing Director of TBD.

Categories: News

Tags: