Category Archives: News

CPA Global and ipan/Delegate Group announce closing of merger and future outlook for the combined organization

Castik Capital

IP management and technology companies CPA Global® and ipan/Delegate Group today announce the closing of their previously announced merger.

The new organisation will deliver best-in-class technology and integrated software, and IP services solutions for corporations and law firms globally. These solutions will offer a unique customer experience and superior service supported by the global footprint of our combined team.

Simon Webster, CEO of the combined group, commented: “I am delighted to announce that we are now one company. The combination of our two companies and the great teams that work within each of them will accelerate our primary focus of delivering solutions that meet our customers’ most important intellectual property management needs.”

Patrice Durand, CEO of ipan/Delegate, commented: “We’re very excited to start working with the CPA Global teams on bringing our joint vision to life. We aim at driving innovation to the benefit of the IP industry, to improve interactions between our customers, partners and teams.”

About CPA Global

CPA Global is a trusted IP management company, leading by blending new technology with unrivalled expertise to better many of the world’s respected corporations and law firms. Delivered by an outstanding global team of 2400 people, our integrated offering sets the standard for reliability and secure, verified IP data. For our customers, we minimise risk and deliver actionable IP intelligence for better decision making. Put simply, we take the hassle out of IP management, liberating our customers to focus on what they do best.

About ipan/Delegate Group

ipan/Delegate Group was formed in 2018 through the combination of Intellectual Property Associates Network (ipan) and Delegate (formerly Valipat/Envoy). Headquartered in Brussels, Belgium and Munich, Germany with offices globally, the Group’s customer centric approach to optimizing process and innovative web enabled platforms has made it the solution of choice for IP owners and law firms across the world. The Group offers services for annuities and renewals, EP validations, IP foreign filing and IP Recordals and three Intellectual Property Management Software (IPMS), namely Unycom, IPSS and IPfolio.

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EQT sells Coromatic to E.ON

eqt

  • EQT sells Coromatic, a leading Nordic critical facility services and provider, to E.ON, a European leader within energy networks and state-of-the-art customer solutions
  • During EQT’s ownership, Coromatic has transformed into a leading Nordic provider of critical facility services and solutions, securing operations against disruptions 24/7, ultimately improving people’s lives and protecting the environment through optimized energy consumption
  • Coromatic has more than doubled revenues and the number employees, and nearly quadrupled EBITDA as a result of strong organic growth and a number of strategic add-on acquisitions

EQT Expansion Capital II (“EQT”) has entered into a definitive agreement to sell Coromatic Group (“Coromatic” or the “Company”) to E.ON. Coromatic secures access to power and data communication by providing services and solutions to critical facilities, such as data centers, airports, hospitals, transportation and connected workplaces.

During EQT’s ownership, Coromatic has transformed from a Swedish-focused data center solutions provider into a service-led Nordic leader. Through the most extensive pan-Nordic critical facilities service network of more than 200 highly qualified technicians, Coromatic secures operations 24/7, contributing to sustainable cities and communities.

An increase in frequency of disruption events, such as power outages or disruptions in digital infrastructure, coupled with a rising cost of downtime, has led to a surge in demand for Coromatic’s unique competencies. The Company’s development has relied on strong organic growth and an ambitious consolidation strategy, having executed eight add-on acquisitions across the Nordics. Today, Coromatic supports over 5,000 customers, including 60% of the Nordic top 100 companies, out of 17 locations.

Erik Bertman, CEO of Coromatic, said: “Together with EQT, Coromatic has transformed into a Nordic leader, through geographical expansion as well as building competencies and widening the offering. Most importantly, this has allowed us to serve our customers better and faster. We now look forward to continue our ambitious growth journey together with E.ON, pursuing a bold ambition of becoming the frontrunner of the decentralized energy market in Europe. We see this as an ideal fit with a common purpose of securing operations 24/7 through energy efficient solutions and thereby improving people’s lives.”

“Acquiring Coromatic is an important step towards our strategic ambition of becoming a leading energy solutions company. As artificial intelligence, smart homes and buildings become increasingly prevalent, the need for 24/7 uninterrupted power supply will continue to grow. I see a great potential for both E.ON and Coromatic to jointly capitalize on this trend”, says Marc Hoffmann, CEO E.ON Sverige.

Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Expansion Capital II, added: “EQT is impressed with Coromatic’s growth journey, but more importantly, its contribution to society in securing critical infrastructure. This aligns perfectly with EQT’s investment approach and focus on sustainability and positive social impact. We are convinced that E.ON will be a great owner of Coromatic and together they will become a trusted partner to businesses looking to ensure their operations 24/7.”

The transaction is subject to approval from the relevant authorities and is expected to close in late Q2 or Q3 2019.

Nordea acted as financial advisor and Roschier as legal advisor to EQT.

Contact
Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Expansion Capital II
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. 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

About E.ON
E.ON Sverige is part of the international E.ON-group, one of the world’s largest investor owned energy companies. E.ON has about 2 200 coworkers in Sweden.

More info: www.eon.com/en

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Consortium led by EQT and ADIA enters exclusive negotiations to acquire skincare company Nestlé Skin Health

eqt

  • EQT and a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) have partnered with a wholly owned subsidiary of the Public Sector Pension Investment Board (“PSP Investments”) and other renowned institutional investors
  • The consortium has entered into exclusive negotiations to acquire Nestlé Skin Health, a leading global skincare company
  • The new owners plan to support Nestlé Skin Health in its next period of growth and innovation by leveraging EQT’s strong healthcare expertise, local angles and industrial network

A consortium comprising EQT VIII fund (“EQT” or “EQT VIII”), Luxinva (a wholly-owned subsidiary of ADIA), PSP Investments and other renowned institutional investors, has entered into exclusive negotiations to acquire Nestlé Skin Health (NSH), a leading global provider of skin health products, from Nestlé S.A. (“Nestlé”) for an enterprise value of CHF 10.2 billion.

Founded in 1981 as Galderma and operating as a wholly owned subsidiary of Nestlé since 2014, Nestlé Skin Health is a leading skincare company offering a range of medical and consumer skin health solutions through three business units: aesthetics and prescription, both under the Galderma brand, and consumer health. The Group has a combined revenue of CHF 2.8 billion and employs more than 5,000 people worldwide. During the ownership of Nestlé, Nestlé Skin Health has operated as an independent business unit under the leadership of Stuart Raetzman, executing a clearly defined strategic agenda around growth and operational excellence.

The consortium around EQT VIII intends to support Nestlé Skin Health in its next period of growth and innovation, leveraging EQT’s long-term experience and industrial network. The strategy will build on the current direction taken by NSH’s management and focuses on accelerating growth further by building on the company’s strong market position and brands.

Priorities will be 1) to invest in commercial excellence and drive innovation in collaboration with health care professionals in the Aesthetics unit; 2) to continue investments in R&D and business development to strengthen the Prescription division and leverage its best-in-class commercial platform; 3) to increase presence in the US, launch new products and focus on international expansion in the consumer health business. The company will keep its headquarters in Switzerland and will be rebranded as Galderma.

The investment is in line with EQT’s thematic approach of investing with the trend in businesses with positive societal impact, advancing the progress of one or more of the United Nations Sustainable Development Goals (“SDG”). Nestlé Skin Health contributes to society by enhancing the quality of people’s lives and by contributing to a healthier future through science-based solutions for skin health. The consortium will support the Company to stay in the forefront of sustainability.

“We are impressed by Nestlé Skin Health’s management team and its achievement in positioning the company as a leading player across its three business units,” said Michael Bauer, Global Head of Healthcare at EQT Partners and Investment Advisor to EQT VIII and continues:

“The heritage of the company as a focused skincare company with a comprehensive product portfolio, exceptionally strong brands and high customer loyalty is unique. This growth investment opportunity fits well to EQT’s DNA of driving growth and making strong companies even stronger. We look forward to supporting the management team and employees of NSH in its next phase of growth and innovation by further promoting innovative skin health products that improve health and well-being.”

Hamad Shahwan Al Dhaheri, Executive Director of the Private Equities Department at ADIA, said: “NSH is a leading global business with a well-balanced portfolio of dermatology products, targeting sizeable end-markets with strong underlying growth. This proposed transaction aligns with our approach of making strategic investments alongside proven partners to help strong, innovative businesses grow.”

Przemek Obloj, Managing Director at PSP Investments, concludes: “We are delighted to be partnering with EQT in this proposed landmark transaction and to support their compelling vision for continued growth of this unique portfolio of brands.”

The proposed transaction is subject to employee consultations and customary regulatory approvals.

Rothschild & Co and PricewaterhouseCoopers LLP acted as financial advisors to the consortium of EQT VIII, ADIA and PSP Investments. Kirkland & Ellis International LLP acted as legal advisor.


Contacts
Michael Bauer, Partner at EQT Partners, Investment Advisor to EQT VIII, +41 44 266 68 00
EQT Press office, +46 8 506 55 334


About Nestlé Skin Health
Nestlé Skin Health provides science-based solutions to meet the specific skin health needs of healthcare professionals, patients and consumers. It offers a range of leading medical and consumer brands through three complementary business units in prescription, aesthetics and consumer care. Headquartered in Lausanne, Switzerland, Nestlé Skin Health employs more than 5,000 people across 40 countries.

More info: www.nestleskinhealth.com 

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. 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

About ADIA
Established in 1976, ADIA is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. ADIA has invested in private equity since 1989 and has built a significant internal team of specialists with experience across asset products, geographies and sectors. Through its extensive relationships across the industry, the Private Equity Department invests in private equity and credit products globally, often alongside external partners, and through externally managed primary and secondary funds. Its philosophy is to build long-term, collaborative relationships with its partners and company management teams to maximize value and support the implementation of agreed strategies.

More info: https://www.adia.ae 

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with C$ 158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit www.investpsp.com or follow us on Twitter and LinkedIn.

More info: www.investpsp.com

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WPP to open new campus in Paris

Ardian

PARIS, May 16 2019 – WPP is to create a modern, new campus for its agencies in Paris, due to open in 2021.

The latest in WPP’s ambitious programme of investments bringing agencies together under one roof will be located at 145-149 rue Anatole France in Levallois-Perret. The land was once the home of the Clément-Bayard factory, bought by Citroën in the early 1920s to manufacture the 2CV.
Split over eight floors, the world-class workspace will be designed to encourage greater creativity and closer collaboration and give clients easier access to WPP’s talent and expertise. The campus will include a double-height auditorium, co-working areas, restaurants, two gardens and a rooftop terrace with 360° views of the city.
WPP has agreed a 12-year lease with owners Ardian and LaSalle Investment Management. The 28,000m2 building is currently undergoing a significant restructuring programme led by Baumschlager Eberle Architecture, in partnership with BDG architecture + design, a WPP company, who will also be designing the interior office space.
In common with all new WPP campus buildings, sustainability will be a key focus and the building is targeting a BREEAM rating of Excellent.
Paris is the latest major WPP co-location in Europe. It recently opened its Amsteldok campus in Amsterdam, while Madrid and Milan are due to open later in 2019.

Mark Read, CEO of WPP, said: “Our campus strategy is about creating fantastic, dynamic workspaces and social areas which inspire our people to do their best, most creative work. Providing world-class working environments encourages innovation, makes it easier for people to work together, and delivers the best integrated offer to our clients.”
Mathieu Morgensztern, WPP’s France Country Manager, said: “This new campus embodies our ambition for WPP in France: to create the future of collaboration between our agencies and our clients. Open, fluid, inspiring, this new venue will be dedicated to the creativity and well-being of WPP’s talent.”
Stéphanie Bensimon, Managing Director of Ardian Real Estate, added: “We are pleased to welcome WPP into this building, the first investment in France from our Real Estate fund. Sustainability is at the heart of every part of the redevelopment project and we are confident that this new office will provide WPP with an inspiring space to work, meet and collaborate.”
Beverley Shadbolt, Country Manager for France at LaSalle, says: “This is an outstanding office space, redeveloped to the highest quality. Its strategic location and size are perfectly suited to large occupiers and as such I am delighted that WPP has chosen this as its new campus.”

Ardian, LaSalle and WPP were advised by JLL as Project Manager.

About WPP

WPP is a creative transformation company. We build better futures for our clients through an integrated offer of communications, experience, commerce and technology.
www.wpp.com

About Ardian

Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. It manages funds on behalf of around 880 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately US$65 billion of private and public equity and private debt investments under management. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc., one of the world’s largest real estate companies.
www.lasalle.com

PRESS CONTACTS

Niken Wresniwiro, WPP
+44 (0)20 7282 4600 / +44 (0)7876 005 489
niken.wresniwiro@wpp.com
Ardian
Image 7
Anne-Charlotte Créach/ Simon Zaks
accreach@image7.fr, szaks@image7.fr
Tel.: 01 53 70 74 70
LaSalle Investment Management
Sophie Lhuillier, Steele & Holt
sophie@steeleandholt.com
Tel.: +33 6 80 95 63 88
Charlotte Forty de Lamarre, Steele & Holt
   charlotte@steeleandholt.com
Tel.: +33 7 72 32 16 74

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Marlin Announces Strategic Minority Investment by Blackstone

Marlin

LOS ANGELES and LONDON, May 16, 2019 – Marlin Equity Partners, a global investment firm, today announced that Blackstone’s (NYSE: BX) Strategic Capital Group has made a passive, minority investment in the firm.

Blackstone’s Strategic Capital Group is part of Blackstone Alternative Asset Management (BAAM) and specializes in minority partnerships with leading alternative asset managers. This investment will allow Marlin to continue to invest in and further expand its global investment platform, strengthen the commitment to and alignment with its diversified investor base, and leverage the global resources and capabilities of Blackstone.

Since its inception in 2005, Marlin has rapidly grown to become a leading global investment firm with over $6.7 billion of capital under management and completed more than 140 transactions across its core targeted industries, including software, technology, healthcare IT, tech-enabled services and industrial technology.

“This investment by Blackstone further validates the best-in-class organization we have built and the true value proposition of our relationship-driven approach to investing,” said David McGovern, Founder and CEO of Marlin. “We are excited to welcome Blackstone as a strategic partner, and look forward to leveraging their expertise and extensive breadth of resources to continue to invest in and position our global platform for long-term success.”

“Marlin’s approach to investing places a heavy focus on partnering with management teams to support businesses, enhance operations and accelerate growth,” said Scott Soussa, Head of BAAM’s Strategic Capital Group. “This emphasis on long-term value creation across its underlying companies positions Marlin for continued success and we are excited to partner with them.”

Terms of the transaction were not disclosed.

Evercore acted as financial advisor to Marlin Equity. Kirkland & Ellis LLP served as legal counsel to Marlin Equity and Simpson Thacher & Bartlett served as legal counsel to Blackstone.

About Marlin Equity Partners
Marlin Equity Partners is a global investment firm with over $6.7 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthen a company’s outlook and enhance value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 140 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

About Blackstone Alternative Asset Management
Blackstone Alternative Asset Management (BAAM®), Blackstone’s Hedge Fund Solutions platform, is the world’s largest discretionary investor in hedge funds, with approximately $80 billion in assets under management. BAAM manages a diversified set of businesses including a customized solutions business, a special situations platform, a hedge fund seeding business, an open-ended mutual fund platform and a business that purchases stakes in established alternative asset managers. In all of BAAM’s business lines, it carefully selects and partners with fund managers across a variety of asset classes and strategies to create solutions for its investors. Through its sharp focus on clients’ goals, a rigorous due-diligence process and access to Blackstone’s global insights, BAAM strives to generate attractive risk-adjusted returns across market cycles while preserving capital during stressed market environments.

Media Inquiries
Marlin Equity Partners
Peter Spasov
Phone: +1 310-364-0100
Email: pspasov@marlinequity.com

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Golden Gate Capital to sell Arrmaz to Arkema Group

Golden Gate Capital

SAN FRANCISCO – May 16, 2019 – Golden Gate Capital, a leading private equity investment firm, today announced that ArrMaz, a global leader in specialty chemicals, has entered into a definitive agreement to be acquired by Arkema Group (“Arkema”) (PA:AKE) for approximately $570 million. Arkema is a global manufacturer of specialty chemicals and advanced materials used across a range of industries. ArrMaz’s management team, led by Chief Executive Officer Dave Keselica, will continue to lead ArrMaz after the transaction is completed.

ArrMaz is a trusted partner to the mining, crop nutrients, asphalt paving, and other growing industries worldwide, providing chemical process aids and additives formulated to improve their customers’ products and processes. For more than 50 years, ArrMaz has delivered customized chemical solutions, engineered application systems, expert technical and customer support, and superior responsiveness.

Dave Keselica said, “We are excited to join forces with Arkema after a successful long-term partnership with Golden Gate Capital. Under their ownership, we expanded and improved the technical performance of our core product suite, entered attractive new markets such as lithium flotation and proppant dust control, and expanded our research and development capabilities and facilities worldwide. We look forward to continuing to provide our customers with the highest quality chemical solutions and unrivaled end-to-end support as we enter this next chapter of our growth.”

Dave Thomas, Managing Director at Golden Gate Capital, said, “We thank Dave Keselica and the entire ArrMaz team for a fantastic partnership over the past six years. During that time, ArrMaz significantly expanded its global footprint, particularly in the Middle East and Africa, through acquisitions and new plant openings, while accelerating innovation across their markets. We are confident that Arkema will be a great partner for ArrMaz’s future growth.”

The transaction is expected to close in the summer of 2019, subject to customary closing conditions.

Lazard Middle Market and Moelis & Company acted as financial advisors to ArrMaz, and Nob Hill Law Group and Kirkland & Ellis served as legal advisors to Golden Gate Capital and ArrMaz. The Valence Group served as financial advisor to Arkema.

About ArrMaz

ArrMaz is a global leader in the production of specialty chemicals for the mining, crop nutrients, asphalt paving, and other growing industries worldwide. Since 1967, ArrMaz has formulated chemical process aids and additives to optimize our customers’ process performance and product quality. With headquarters in Mulberry, Florida and multiple locations across North and South America, Europe, Asia, Africa and the Middle East, ArrMaz serves customers globally. For more information about our company and products, visit us online at ArrMaz.com.

About Golden Gate Capital

Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Notable investments sponsored by Golden Gate Capital include Active Minerals, U.S. Silica, EP Minerals, ANGUS, Cole-Parmer and Vantage Elevator Solutions. For more information, visit www.goldengatecap.com.

Contacts
Media
Sard Verbinnen & Co
Jenny Gore/Hayley Cook
312-895-4700/212-687-8080
GoldenGate-SVC@sardverb.com

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KKR Prices €650,000,000 of Senior Notes

KKR

NEW YORK–(BUSINESS WIRE)–May 15, 2019– KKR & Co. Inc. (“KKR”) (NYSE:KKR) today announced that it has priced an offering of €650,000,000 aggregate principal amount of its 1.625% Senior Notes due 2029 (the “notes”) issued by KKR Group Finance Co.V LLC, its indirect subsidiary. The notes are to be fully and unconditionally guaranteed by KKR & Co. Inc. and its subsidiaries, KKR Management Holdings L.P., KKR Fund Holdings L.P. and KKR International Holdings L.P. KKR intends to use the net proceeds from the sale of the notes for general corporate purposes, including to fund potential acquisitions and investments in Europe.

The notes were offered to buyers outside the United States pursuant to Regulation S and to qualified institutional buyers in the United States pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

The notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This release contains certain forward-looking statements. Forward-looking statements relate to expectations, estimates, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. The forward-looking statements are based on KKR’s beliefs, assumptions and expectations, taking into account all information currently available to it. These beliefs, assumptions and expectations can change as a result of many possible events or factors, not all of which are known to KKR or are within its control. If a change occurs, KKR’s business, financial condition, liquidity and results of operations, including but not limited to dividends, tax assets, tax liabilities, assets under management, fee paying assets under management, capital invested, syndicated capital, uncalled commitments, after-tax distributable earnings, fee related earnings, segment EBITDA, core interest expense, cash and short-term investments, book value, and return on equity may vary materially from those expressed in the forward-looking statements. The following factors, among others, could cause actual results to vary from the forward-looking statements: whether KKR realizes all or any of the anticipated benefits from converting to a corporation and the timing of realizing such benefits; whether there are increased or unforeseen costs associated with the conversion, including any adverse change in tax law; the volatility of the capital markets; failure to realize the benefits of or changes in KKR’s business strategies including the ability to realize the anticipated synergies from acquisitions, strategic partnerships or other transactions; availability, terms and deployment of capital; availability of qualified personnel and expense of recruiting and retaining such personnel; changes in the asset management industry, interest rates or the general economy; underperformance of KKR’s investments and decreased ability to raise funds; and the degree and nature of KKR’s competition. All forward-looking statements speak only as of the date hereof. KKR does not undertake any obligation to update any forward-looking statements to reflect circumstances or events that occur after the date on which such statements were made except as required by law. In addition, KKR’s business strategy is focused on the long-term and financial results are subject to significant volatility. Additional information about factors affecting KKR can be found in KKR & Co. Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the SEC on February 15, 2019, and other filings with the SEC, which are available at www.sec.gov.

Source: KKR & Co. Inc.

Investor Relations:
Craig Larson
Tel: +1 (877) 610-4910 (U.S.) / +1 (212) 230-9410
investor-relations@kkr.com

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

 

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Platinum Equity to Sell Artesyn’s Embedded Power Business to Advanced Energy

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Platinum

Partial Divestiture Separates Artesyn’s Embedded Power, Embedded Computing and Consumer Products Businesses

LOS ANGELES (May 15, 2019) – Platinum Equity announced today the signing of a definitive agreement to sell the Embedded Power business of portfolio company Artesyn Embedded Technologies, Inc., to Advanced Energy Industries, Inc. (Nasdaq: AEIS), in a transaction valued at approximately $400 million. The transaction is expected to close during the second half of 2019, subject to regulatory approval and other customary closing conditions.

Artesyn Embedded Technologies has been a portfolio company of Platinum Equity since 2013.

Artesyn’s Embedded Power business is a leading global supplier and manufacturer of highly engineered power conversion products, including AC-DC power supplies, DC input devices and board mounted DC-DC modules.

“The Embedded Power business and Advanced Energy are a great strategic fit with complementary strengths,” said Platinum Equity Partner Jacob Kotzubei. “We are pleased to have found a combination that makes great sense for both companies and their customers.”

“The Embedded Power business and Advanced Energy are a great strategic fit with complementary strengths,” said Platinum Equity Partner Jacob Kotzubei. “We are pleased to have found a combination that makes great sense for both companies and their customers.”The transaction announced today only involves Artesyn’s Embedded Power business, which includes the Artesyn and Astec brands. Artesyn’s Embedded Computing and Consumer products businesses are not part of the sale and remain part of Platinum Equity’s portfolio.

Mr. Kotzubei said separating the three businesses makes the most long-term sense.

“Artesyn serves three very different markets, each with its own customer base and unique dynamics,” explained Mr. Kotzubei. “Separating them into standalone operations opens up more opportunities with greater potential.”

Artesyn’s Embedded Power business is one of the world’s largest providers of highly engineered, application-specific power supplies for demanding applications. As a trusted technology partner to original equipment manufacturers, it serves multiple attractive growth markets, including hyperscale data centers, telecom infrastructure in next generation 5G networks, embedded industrial power applications and medical power for diagnostic and treatment applications.

JP Morgan is serving as primary financial advisor to Artesyn on the sale of the Embedded Power business. Morgan Stanley is also providing financial advisory services to the company. Morgan, Lewis & Bockius LLP and Baker & McKenzie LLP are serving as Artesyn’s legal counsel on the transaction.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202

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SPHEREA continues its growth trajectory with a consortium comprising Andera Partners and Omnes

Omnes Capital

Paris and Toulouse, 15 May 2019 – A consortium, comprising Andera Partners, via its fund WINCH Capital 4, and Omnes, via its fund Omnes Croissance 4, is taking a majority shareholding in the group SPHEREA, alongside management and its existing financial shareholders (ACE Management via Aerofund III and IRDI-SORIDEC Gestion, via SCR fund IRDI).

Since its exit and its capitalistic independence from the Airbus group, SPHEREA, created in 1965, continues its growth trajectory with the ambition of becoming first European, and then world leader in technological test solutions that enable the availability and security of critical systems for civil or military clients.

SPHEREA offers modular technology solutions for the entire lifecycle of electronic systems. A recognized market integrator, which has developed a wide range of products dedicated to electronic tests, such as the ATEC Series automatic test benches used in maintaining most Airbus and Boeing aircraft, the group relies on the synergy of its professional expertise in the fields of electronics, microwave, optronics, and power electronics. Since its exit in 2014 from the Airbus group, SPHEREA has diversified into energy and rail sectors.

The Group’s development dynamic is supported by an excess of 600 loyal customers worldwide, major players in aerospace and defence (Airbus, Dassault, Honeywell, Lufthansa Technik, DGA, Nahema, Thales, Comac), energy (EDF, Schneider Electric, RTE), or railways (SNCF, Alstom).

SPHEREA generated around €130 million in turnover in 2018, half of which came from exports (50 countries), and employs over 600 staff in France, Germany, the UK., the US and in Asia.

The aim of this deal is to allow SPHEREA to take a new step in its development based in particular on the following strategic areas:

Broadening its technological offer: in particular, developing predictive maintenance solutions, anticipating diagnostics, decision support, portable soil testing, on-board maintenance, and simulation;
Strengthening its positioning in new markets (energy and rail), drawing on its previous expertise in aeronautics;
Accelerating its international development (particularly in Asia and the US) and intensifying its policy of strategic acquisitions in France and Europe.

 

Christian Dabasse, CEO and Chairman of SPHEREA: “Our raison d’être is to ensure the reliability and security of our customers’ critical systems, we intervene where human life is at stake. Research and innovation are essential axes in a changing world in paradigm shift. Our new financial partners will enable us to expand our offering through increased R&D that responds to these challenges, as well as an ambitious external growth policy, both in France and abroad, on related trades or on new technologies in line with our mission. I especially thank Thierry Letailleur who, in 2014, as CEO of ACE Management and CEO of IRDI, was kind enough to support me in the creation of SPHEREA, and today allows us to enter a new phase of development.”

Antoine Le Bourgeois and Pierre-Yves Poirier, Partners at Andera Partners: “Management convinced us of the solidity of the Group’s historic businesses and the potential for new technological developments in the years to come. In addition, SPHEREA Group is fully committed to the investment strategy of our WINCH Capital 4 fund, which aims to support the change in scale of leading players in their market.”

Stéphane Roussilhe, Partner at Omnes: “We are delighted to support the management team in developing SPHEREA’s core business but also by helping external growth in France and internationally. This investment thesis perfectly reflects the strategy of our Omnes Croissance 4 fund.”

Thierry Letailleur, CEO, and Delphine Dinard, Partner, at ACE Management: “We are delighted to participate in this deal led by Andera and Omnes which allows us to continue supporting the group SPHEREA, which began 5 years ago. We are very proud of the journey made by Christian Dabasse and all his teams. This transaction also illustrates the ability of ACE Management to support strategic industrial companies across all phases of their development, such as the reinvestments recently made within the groups Duqueine, Nexteam, Rafaut and Socomore.”

Marc Bres-Pintat, Investment Director at IRDI-SORIDEC Gestion: “After backing Christian Dabasse and his teams during the successful spin-off from the Airbus group, IRDI-SORIDEC Gestion wanted to join this new capital-intensive operation aimed at providing SPHEREA with the means to pursue its growth strategy.”

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Anders Invest acquires VIOS Houttechniek

Anders Invest

On May 15th, Anders Invest acquired VIOS Houttechniek with branches in Driebruggen, Hoorn and Doetinchem. VIOS, founded in 1914 and now number 1 in the Netherlands in the production and sale of wooden staircases, has a turnover of € 25-30 million and employs more than 150 people. For Anders Invest, it is the 15th company in its industry portfolio.

VIOS is the market leader in the Netherlands in the field of engineering, production and assembly of serial custom-made staircases for residential construction. The company has most large, medium and small Dutch construction companies as customers. VIOS is increasingly involved in the construction process so that the right staircase is installed at the right time and the completion of the home can proceed in a timely manner. On the sales side, VIOS is also integrated with contractors and developers with online tools with which home owners can configure their stairs. In addition to serial-produced staircases, VIOS makes exclusive, tailor-made staircases including carpentry, stair gates and stair railings.

Stairrailing factory Fremeyer in Hoorn is also part of the transaction. VIOS has a third location in Doetinchem with a showroom where various luxury staircases can be seen. VIOS increasingly inspires its customers and end users in the application of higher quality staircases, finishes and various options. VIOS has a modern and automated machine park at its factory in Driebruggen, which means that a staircase is processed very efficiently from drawing to end product.

The shares were taken over from directors Hans Diekema and Jaap Mullié, both of whom had owned VIOS since 2003. Anders Invest is doing the acquisition together with incoming director Dirk Bergman, who is acquiring a minority interest. Dirk has extensive experience in management positions at wood and building materials companies. In his most recent role, Dirk was active as CEO of Deli Home.

In the past 10 years, VIOS has acquired a leading position in the market through organic growth and through various takeovers of smaller staircase factories. Due to the increasing demands on building processes, solid prospects for the number of new homes to be delivered and the consumer who expects more customization, the company sees sufficient opportunities for further growth. VIOS is characterized by a pleasant organizational culture with loyal employees with attention to quality and craftsmanship. Anders Invest and Dirk Bergman look forward to adding a successful new period to the company’s history with them.

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