Category Archives: News

KKR to Present at the Citi 2019 Asset Managers, Broker Dealers & Exchanges Conference

KKR

02.14.19
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NEW YORK–(BUSINESS WIRE)–Feb. 14, 2019– KKR & Co. Inc. (NYSE: KKR) announced today that William J. Janetschek, Chief Financial Officer, and Craig Larson, Head of Investor Relations, will present at the Citi 2019 Asset Managers, Broker Dealers & Exchanges Conference on Wednesday, February 27, 2019 at 10:25 AM ET.

A live audio webcast of the presentation will be available on the Investor Center section of KKR’s website at http://ir.kkr.com/kkr_ir/kkr_events.cfm. For those unable to listen to the live audio webcast, a replay will be available on the website shortly after the event.

Any questions regarding the webcast may be addressed to KKR’s Investor Relations group at investor-relations@kkr.com.

ABOUT KKR

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

Source: KKR & Co. Inc.

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

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

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Wendel sells its 40% holding in PlaYce to CFAO

Wendel

Wendel has agreed to sell its 40% holding in PlaYce (formerly SGI Africa) to CFAO for net proceeds of €32.2
million, following an initial investment of €25.3 million at the end of July 2016.
PlaYce was created in 2015 by CFAO, primarily to support the development of the Carrefour brand, which
CFAO operates through a joint venture with the Group, across several West African countries.
Since inception, PlaYce has opened three shopping centers (two in Abidjan and one in Douala), representing
a total selling area of around 21,400 sq. m. (with over 15,000 additional sq. m. currently being developed)
and creating over 1,300 direct and indirect jobs (at PlaYce, its subcontractors and CFAO Retail).

In line with its strategy to refocus on large assets, Wendel has agreed with CFAO to sell its holding according
to the terms mentioned above.

Agenda
21.03.2019
Résultats annuels 2018 / Publication de l’ANR du 31 décembre 2018 (avant Bourse).
03.21.2019
2018 Full-Year Results / Publication of NAV as of December 31, 2018 (pre-market release).

About Wendel
Wendel is one of Europe’s leading listed investment firms. The Group invests in Europe, North America and Africa in companies which are leaders in their field, such as Bureau
Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and Allied Universal. Wendel plays an active role as a controlling or lead shareholder in these companies.
We implement long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through OranjeNassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder Tsebo in Africa.
Wendel is listed on Eurolist by Euronext Paris.
Standard & Poor’s ratings: Long-term: BBB, stable outlook – Short-term: A-2 since January 25, 2019
Moody’s ratings: Long-term: Baa2, stable outlook – Short-term: P-2 since September 5, 2018
Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of “Grand Mécène de la
Culture” in 2012.

For more information:
Follow us on Twitter @WendelGroup

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EURAZEO brands strengthens its european strategy with a new team in Paris

Eurazeo

Paris, February 14th, 2019 – Eurazeo Brands, Eurazeo’s investment division dedicated to fast growing consumer brands, has built a new team in Paris to lead the investment strategy in Europe, with the appointment of Laurent Droin as Managing Director, and Célia Nataf as Senior Associate.
Laurent Droin brings extensive consumer, retail and luxury expertise, having worked for 20 years in the industry in both corporate and advisory roles. Prior to joining Eurazeo, he spent 10 years at BNP Paribas as a Managing Director focused on mergers and acquisitions. He was most recently based in New York, where he successfully rebuilt the bank’s consumer franchise, focusing on beauty, personal care, and apparel. Previously, he spent nine years at Danone in various strategic and operational roles in France, Argentina and Russia. This brand enthusiast has been personally investing alongside successful entrepreneurs for many years.

Célia Nataf is joining the Eurazeo Brands team in Paris and will be responsible for sourcing, executing and monitoring European investments. She previously spent five years as part of Eurazeo Capital, specializing in the consumer, retail and luxury industries. She participated in the creation of Carambar & Co, a European carve-out in the branded food industry, and in the structuring and monitoring of Planet, a global tax free and payment company. Prior to Eurazeo, she worked in the mergers and acquisitions team at Barclays Capital in Paris, where she carried out assignments for investment funds and industrial players.

Eurazeo Brands’ mission is to invest a total of $800 million in high potential North American and European consumer companies with differentiated brands across a wide range of verticals including beauty, fashion, home, wellness, food and beverage, and leisure. The firm partners with visionary founders and strong management teams to drive transformational growth and accelerate value creation by leveraging Eurazeo’s unique capabilities. Investments to date include Pat McGrath Labs and Nest Fragrances. The founders of these companies selected Eurazeo Brands due to its sector and operating expertise, proven track record building brands, and extensive international reach with offices across four continents. These new appointments will enable Eurazeo Brands to be the investment partner of choice for aspirational, consumer driven companies in Europe seeking value-added capital to develop their businesses globally.

About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its
considerable private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo
accompanies companies of all sizes, supporting their development through the commitment of its 235
professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable
foothold for transformational growth. Its solid institutional and family shareholder base, robust financial
structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over
the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London,
Luxembourg, Frankfurt and Madrid.

• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
***
EURAZEO CONTACTS CONTACT PRESSE
CAROLINE COHEN
HEAD OF INVESTOR RELATIONS
E-mail: ccohen@eurazeo.com
Tél: +33 (0)1 44 15 16 76
VIRGINIE CHRISTNACHT

HEAD OF COMMUNICATIONS
E-mail: vchristnacht@eurazeo
Tél: +33 (0)1 44 15 76 44
MAITLAND / AMO
David Stürken
E-mail: dsturken@maitland.co.uk
Tél: +44 (0) 20 7395 0450
For more information, please visit the Group’s website : www@eurazeo.com
Follow us on Twitter, Linkedin, et YouTube

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3i supports merger of International Cruise & Excursions and SOR Technology

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3I

3i Group plc (“3i”) announced today that International Cruise & Excursion (“ICE”), a global provider of technology-based, travel-related loyalty solutions in which 3i invested in June 2018, is merging with SOR Technology (“SOR”). As part of the transaction, 3i is investing an additional $24m of equity in ICE.

Founded in 2004 by Kevin Schneider and Elliot Springer, SOR has developed a web-based travel technology platform that can be customised to the needs of its clients and users.  The platform was built to showcase travel inventory from worldwide travel suppliers, providing end user customers access to substantial savings on hotels, resorts, cruises, vacation homes, car rentals, flights and leisure activities.  The SOR platform services B2B clients and consumers worldwide and is available in 17 languages and 44 currencies.

Both ICE and SOR are committed to providing innovative technology-based loyalty and reward solutions for the delivery of travel and leisure.  The combination of the two companies will provide valuable enhancements to their global network of travel suppliers, their B2B partners and their customers globally.  John Rowley, will remain as CEO of the combined enterprise.  Kevin Schneider and Elliot Springer will join ICE’s senior leadership team and become shareholders in the business.

John Rowley, CEO and co-founder of ICE, commented:

“Our partnership with SOR will improve our ability to offer our brand partners and their members functionality to browse and book travel in 17 languages and 44 currencies. As a combined enterprise, we will be better positioned to serve the members of our respective B2B customers on a global basis, while greatly accelerating ICE’s ability to grow and support international markets.”

Kevin Schneider, CEO and co-founder of SOR, commented:

“Combining ICE’s global scale, strong service capabilities and expertise in cruise and lifestyle products with SOR’s customizable travel platform and expertise in hotel bookings will enable us to offer our customers a complete travel and loyalty solution, including the greatest savings across all travel and leisure offerings. Elliot and I are excited to join the ICE leadership team to drive our combined business and accelerate the next phase of its growth.”

Andrew Olinick, Partner, 3i Private Equity, added:

“ICE and SOR have highly complementary strengths in cruise and hotel bookings, respectively. The addition of SOR augments ICE’s hotel platform capabilities, including strong international market support, further improving its growth prospects while diversifying its client base and revenue model. SOR has a strong management team led by the two founders and we are excited to work with them on the future development and integration of the two companies.”

-ENDS-

Download this press release   

 

For further information, contact:

3i Group plc

 

Silvia Santoro

Investor enquiries

 

Kathryn van der Kroft

Media enquiries

 

  

 

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

 

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

 

Notes to editors:

 

About 3i Group

3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com.

 

About ICE

International Cruise & Excursion, Inc. (ICE) is a leading international leisure travel and lifestyle benefits organisation with a global network of premier corporate, leisure and affinity-based alliance partners.

ICE is a market maker and global provider of travel, leisure-based loyalty and reward programmes. Leveraging the innate power and appeal of vacations and unique leisure-related products and services, ICE provides travel-based benefit programmes to millions of consumers, with scalable travel and loyalty solutions for some of the world’s most respected brands. ICE is unmatched in delivering travel, leisure and lifestyle products and services through powerful marketing and technology solutions. ICE creates and manages customised B2B2C and B2C vacation and leisurecentric programmes, supported in more than 21 languages, from nine global offices in the US, UK, Europe, India, Mexico, Australia, New Zealand and the Philippines.

Cruise_63404470.jpg

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EQT acquires Kodiak Gas Services, LLC

eqt

  • EQT Infrastructure has acquired Kodiak Gas Services, LLC, the fastest-growing and largest privately held contract compression business providing critical compression equipment in the US
  • Kodiak benefits from attractive long-term market dynamics, including growing US oil and gas production, increased centralization of compression needs and growing utilization of large compression to drive improved margins
  • EQT Infrastructure will support Kodiak’s growth with existing and new customers and will support the Company’s continued operational improvement by providing deep sector expertise in the Energy sector and Midstream end markets as well as its network of Industrial Advisors

The EQT Infrastructure III fund (“EQT” or “EQT Infrastructure”) today announced that it has acquired Kodiak Gas Services, LLC (”Kodiak” or the “Company”) from The Stephens Group, LLC, a private investment firm representing the interests of Witt Stephens, Jr. and Elizabeth Campbell. Kodiak will maintain its corporate headquarters in Houston, Texas, under the continued leadership of President Mickey McKee, CEO David Marrs, and the Kodiak management team. Terms of the transaction were not disclosed.

Founded in 2011, Kodiak is the largest privately owned contract compression company in the US; providing necessary compression equipment for the extraction of oil and transportation of natural gas in the United States. With over 1,130,000 revenue generating horsepower (“HP”) deployed across key basins, Kodiak has a differentiated offering focused on exceptional customer service and technical performance. Kodiak leverages its scale, multi-decade operational experience, strong customer relationships and leading data analytics and integration to deliver best in class service and mechanical availability.

EQT will support Kodiak in its next phase of development as the Company focuses on continued expansion with existing and new customers, further strengthening its technology platform and enhancing the Company’s service offering. Moreover, EQT will leverage its bench of Industrial Advisors with extensive experience in the Energy and Midstream sectors to enhance growth and operational efficiencies.

Alex Darden, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, commented: “Kodiak’s differentiated service offering, strong commitment to customers and critical infrastructure at every juncture in the oil and gas value chain make the Company unique in their industry, embodying EQT Infrastructure’s approach of targeting high-quality, industry leading, stable businesses with transformation potential. We are impressed with Kodiak’s continued transformation through data implementation and strong growth and believe that the Company’s ambition and people will continue to have positive impacts going forward. We are excited to help build and shape the next phase of development for Kodiak and look forward to working with such a talented group of people and outstanding executive management team who share the same culture, values and drive as EQT.”

“We are extremely excited to be partnering with EQT to continue to grow Kodiak as the premier provider of contract compression services in the US. EQT brings a wealth of knowledge to our partnership and together, we will create a platform to continue to attract the best customers, in the best basins, to provide the highest level of contract compression services in the business,” commented Mickey McKee, President of Kodiak. “With our focus on the essential, large horsepower infrastructure-type compression applications, coupled with our relentless commitment to runtime and customer service, Kodiak is well-positioned to continue to profitably grow and take market share.”

“The EQT Team understands the critical nature of contract compression in serving our nation’s energy infrastructure. EQT’s partnership with Kodiak will allow us to continue achieving industry leading profitability and growth rates while continuing to provide the best service in the industry,” commented David Marrs, CEO of Kodiak. “EQT has made a substantial commitment to Kodiak and we are very excited to continue this path with their support, vast industry experience and knowledge.”

Simpson Thacher & Bartlett LLP served as legal advisor to EQT Infrastructure. Jefferies LLC served as exclusive financial advisor and Kirkland & Ellis LLP acted as legal counsel to Kodiak.

Contact
Alex Darden, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +1 917 281 0840

US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

International inquiries: EQT Press Office, +46 8 506 55, 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm founded in 1994, with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About Kodiak Gas Services, LLC
Founded in 2011, Kodiak is a market-leading provider of contract compression and related services for the oil and gas industry in North America. Servicing the producers in both the upstream and midstream segments of the value chain, Kodiak provides 24/7 access to technical and mechanical support backed by a 98% mechanical availability guarantee. With over 285 employees, Kodiak provides services in the Permian, Eagle Ford, Scoop/Stack and other basins of the United States with its headquarters located in Houston, Texas.

More info: www.kodiakgas.com

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

More info: www.stephensgroup.com

Categories: News

Quimper declares the offer for Ahlsell unconditional, will acquire all tendered shares

On 11 December 2018, Quimper AB (a company that has been or will be indirectly invested in by CVC Funds) (“Quimper”)1, announced a public cash offer to the shareholders in Ahlsell AB (publ) (“Ahlsell” or the “Company”) to tender all their shares in Ahlsell to Quimper (the “Offer”). The offer document regarding the Offer was made public on 19 December 2018.

The shares tendered in the Offer at the end of the initial acceptance period on 11 February 2019, together with the shares already held or otherwise controlled by Quimper, and closely related parties, amount to in aggregate 403,296,725 shares in Ahlsell, corresponding to approximately 93.9 percent2 of the share capital and the voting rights in Ahlsell.

Quimper hereby announces that all conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Quimper will complete the acquisition of the shares tendered in the Offer. Settlement for shares tendered in the Offer during the initial acceptance period will take place in accordance with previously communicated plan, i.e. around 19 February 2019.

To provide the remaining shareholders of Ahlsell who have not tendered their shares time to accept the Offer, the acceptance period will be open beyond the end of the initial acceptance period, until 27 February 2019 at 15.00 (CET). Settlement for shares tendered in the Offer during the additional acceptance period is expected to start around 7 March 2019. Quimper reserves the right to further extend the acceptance period for the Offer.

Prior to announcement of the Offer, Quimper, and closely related parties, held in aggregate 109,578,323 shares in Ahlsell, corresponding to approximately 25.1 percent3 of the share capital and the voting rights in Ahlsell. At the end of the initial acceptance period on 11 February 2019, the Offer had been accepted by shareholders representing in total 293,718,402 shares in Ahlsell, corresponding to approximately 68.4 percent4 of the share capital and the voting rights in Ahlsell.

Quimper does not hold any financial instruments that give financial exposure to Ahlsell shares and has not acquired any such shares or financial instruments outside the Offer.

Quimper will initiate compulsory acquisition of the remaining shares in Ahlsell as well as promote a delisting of Ahlsell’s shares from Nasdaq Stockholm.

1 Quimper is a newly formed entity that has been or will be indirectly invested in by funds or vehicles (“CVC Funds”) advised by CVC Advisers Company (Luxembourg) S.à r.l. and/or its affiliates. “CVC” means CVC Advisers Company (Luxembourg) S.à r.l. and its affiliates, together with CVC Capital Partners SICAV-FIS S.A. and each of its subsidiaries.

2 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

3 Based on all 436,302,187 outstanding shares in Ahlsell, including the 7,000,000 shares which are held by Ahlsell in treasury.

4 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.

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Asolvi acquires Vantage Computing

Viking venture

TRONDHEIM, NORWAY – FEBRUARY 12TH 2019 – 9AM GMT – Asolvi (www.asolvi.com), the
leading European provider of service management software for small and medium-sized
enterprises in the European field service industry, today announces the acquisition of Vantage
Computing (www.vantagecomputing.co.uk), one of the world’s most trusted developers of
service management solutions.

The procurement of Vantage Computing will enable a large number of Asolvi’s customers
(typically small to mid-sized companies) to benefit from Vantage Online: Vantage Computing’s
cloud-based product, currently providing streamlined and in-depth insights for 150 organizations.
Now underneath the Asolvi umbrella, Vantage Computing’s software solution will reach even
more small to mid-sized businesses and be further developed for this purpose.
The acquisition – Asolvi’s fourth in three years, with three of its purchased companies being UK in
origin – means that together the companies will have more than 1,000 customers across 35+
countries.

“The acquisition of Vantage Computing was a natural move for us,” comments Pål M. Rødseth,
CEO of Asolvi. “Previously a competitor of Purpose Software, which we acquired last month,
Vantage Computing complements our Evatic solution as it will help reach more customers that
are smaller in size. We are very excited to work with Tony Milford and his team and are looking
forward to drawing on the strength of the Asolvi family to utilize Vantage Computing to its full
potential. Tony and I believe that both companies will be stronger together and that we’ll be able
to generate efficient and seamless services for a large section of the industry.”

“It makes sense for us to be a part of the Asolvi family,” adds Tony Milford, CEO of Vantage
Computing. “Bringing the teams together means that we are able to develop and build better
products on a more solid foundation with Asolvi. We are incredibly excited to be one of the
component companies within the market leader in service management solutions for document
management, and I look forward to continue the journey as a part of the Asolvi family.”
With decades of combined experience developing solutions for a broad array of field service
sectors, Asolvi’s products manage thousands of engineers, millions of contracts, and tens of
millions of service tasks. Its mission is to continue creating, developing and honing new
NORWAY / UNITED KINGDOM / SWEDEN / FRANCE / GERMANY / SINGAPORE
functionality and solutions for the largely under-served SME market, through collaboration and
close relations with its customers. By understanding the issues, needs and preferences of SMEs,
the company is in a prime position to deliver the robust and intelligent solutions that the
increasingly service-oriented economy demands.

The consecutive acquisitions of Tesseract (in 2016), WS Software (in 2017), and, most recently,
Purpose Software in January 2019, is in line with Asolvi’s strategy to become the leading provider
of field service management systems for SMEs in Europe. The company has now added Vantage
Computing’s Vantage Online and Service Accent, Purpose Software’s 2Serv and CBS solutions to
its broadening product suite, which already includes the world-renowned Evatic, Tesseract and
WinServ solutions.

About Asolvi
Asolvi is a leading provider of service management software for small and medium-sized
enterprises (SMEs) in the field service industry in Europe. The private company is owned by the
founders, management and Viking Venture and is headquartered in Trondheim, Norway. More
information about its services is available from https://asolvi.com
About Vantage Computing
Founded in 1992, Vantage is one of the world’s leading developers of service management
solutions that maximize workforce productivity, improve customer satisfaction and minimize
operational costs. We have provided solutions to service operations in more than 35 countries
throughout the world. More information about its services is available from
www.vantagecomputing.co.uk.

For press information, please contact:
Asolvi
Pål M Rødseth
CEO
Phone: + 47 9069 7159
Email: pmr@asolvi.com
Deliberate PR
Amie Smith
Senior Account Executive
Phone: + 44 207 221 1540
Email: amie@deliberate-pr.com

 

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IVC Group accelerates growth – EQT brings in minority investors and appoints Kate Swann as Chairman

eqt

  • EQT brings in blue chip investors in a minority stake sale in IVC at an enterprise value of approximately EUR 3.0 billion
  • EQT remains the largest shareholder and continues to invest in IVC with around 20% of the capital held by institutional minority investors
  • Kate Swann, CEO of SSP Group plc and former CEO of WHSmith PLC, appointed as new Chairman of IVC effective today, having already served as a member of the board of IVC

EQT today announced that the EQT VI and VII funds (jointly “EQT”) bring in a group of partners through a minority stake sale in IVC Group (“IVC” or “the Company”) to support accelerated growth in its next development phase. The transaction values IVC at an enterprise value of approximately EUR 3.0 billion. Around 20% of the capital will be held by institutional minority investors.

Headquartered in Bristol, UK, IVC is a leading veterinary services provider with a network of more than 1,100 clinics and hospitals and approximately 16,000 employees across Europe. Founded in 2011, IVC operates a decentralized model promoting innovation and clinical freedom balanced with integrated support functions such as procurement, veterinary advisors and clinical boards.

IVC was acquired by EQT in December 2016, and in May 2017 the Company was merged with Evidensia, a Swedish veterinary group (also owned by EQT), which at the time operated a network of 180 clinics and hospitals across the Nordics and Central Europe. Since then, IVC has transformed into the leading European veterinary services provider through accelerated organic growth and a large number of strategic add-on acquisitions.

In connection with the minority stake sale, IVC successfully refinanced the business with a first lien facility raised alongside a second lien facility in total of approximately EUR 1.2 billion in addition to a EUR 230 million RCF. The refinancing is designed to allow IVC to continue to drive further consolidation of the European veterinary market.

Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI and EQT VII, comments: “EQT is pleased to welcome the new investors and delighted about the strong support from IVC’s financing providers. The new ownership structure, combined with the successful refinancing, constitute a solid foundation for continuing IVC’s journey towards becoming Europe’s leading veterinary services group. We are also excited to appoint Kate Swann as new Chairman of the board. She brings an impressive track record of long-term sustainable shareholder value creation from leading both SSP and WHSmith and will be ideally suited to support the management team in the future-proofing of IVC.”

David Hillier, CEO of IVC, adds: “IVC has grown immensely during EQT’s ownership and we see attractive opportunities to continue expanding our business across Europe, both organically through increased market penetration and via continued acquisitive growth and consolidation of the highly fragmented veterinary market. We welcome our new partners and look forward to their support in realizing our goal. We are also happy to see Kate Swann appointed as Chairman of the board, having already served as a member of the board.”

Kate Swann, Chairman of IVC, concludes: “I look forward to supporting David, his management team and EQT on the mission to create Europe’s leading veterinary services provider”.

The transaction and refinancing completed on February 13, 2019.

Contacts
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI and EQT VII, +46 8 506 554 50
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with more than EUR 50 billion in raised capital across 28 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. 

More info: www.eqtpartners.com

About Independent Vetcare
IVC is the largest and most diversified vet services platform in Europe with more than 1,100 clinics and hospitals across 10 countries. IVC employs approximately 16,000 FTEs, including over 4,000 veterinarians.

More info: www.ivc.group

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EQT to invest in VBill, a leading third-party payment service provider in China

eqt

  • EQT Mid Market Asia has signed an agreement to acquire 10% primary shares in VBill, a leading third-party payment service provider in China with a focus on small and medium-sized enterprises
  • EQT will support VBill’s continued customer base growth across city tiers and potential international expansion to become the go-to payment platform with comprehensive product offerings to support merchants
  • EQT is partnering with VBill’s founding management and its parent company, Hi Sun Technology, to jointly drive VBill’s next growth phase

The EQT Mid Market Asia III fund (“EQT” or “EQT Mid Market Asia”) has signed an agreement to acquire 10% primary shares in VBill Limited (“VBill” or the “Company”), a leading third-party payment service provider and merchant acquirer in China with a focus on small and medium-sized enterprises (“SMEs”). The management team, under the joint leadership of SHEN Zheng, Chairman, LI Huimin, CEO, GUO Yi, Vice President, XUE Guangyu, Vice President, and GE Xiaoxia, CFO, together with EQT and VBill’s parent company, Hi Sun Technology (China) Limited (“Hi Sun Technology”, 818.SEHK), will drive the Company’s next phase of growth.

Founded in 2011 and headquartered in Beijing, VBill offers a full range of payment solutions, including bank card acquiring, omni-channel payment, Internet payment and others. By leveraging its extensive merchant base, VBill also provides value-add services, such as fintech-enabled consumer lending. Under the leadership of the founding management team, possessing more than 20 years of industry experience, VBill has achieved remarkable growth since inception, and is today a leading merchant acquirer with a comprehensive service offering, large merchant base and innovative and extensive sales network.

With a strong management team and the support and relevant payment services experience from EQT’s Industrial Network, VBill is well-positioned to capture the attractive growth opportunities in the large and fast-growing third-party payment market in China. The strategy includes continued expansion into lower-tier cities and penetration in SMEs, leveraging the existing network to continue developing consumer lending business, and opportunistically identifying overseas expansion opportunities in Europe, Latin America and Southeast Asia.

SHEN Zheng, Chairman of VBill, said: “We are thrilled to have EQT as our strategic partner for VBill’s next growth phase. With EQT’s global and Chinese corporate governance and service sector experience, we are well-positioned to become the go-to payment service provider for local merchants and pursue overseas expansion opportunities.”

Martin Mok, Partner, Head of EQT Mid Market Asia and Investment Advisor to EQT Mid Market Asia III, concluded: “The management team has led the Company to achieve remarkable growth and become a top player in the sector. EQT looks forward to the new partnership and is fully committed to supporting the management team to continue delivering consistent growth and value creation through various expansion strategies.”

VBill’s implied total equity value in this investment is estimated to be up to RMB 5,880 million (USD 876 million), subject to the audited net income for the fiscal year of 2018. The Company processed over RMB 1.1 trillion (USD 170 billion) transaction value and recorded annual sales of RMB 1.7 billion (USD 254 million) and net income of RMB 190 million (USD 28 million) in 2017. Sales has grown at 2015-17A CAGR of 106% from RMB 402 million in 2015. NPAT has grown at 2015-17A CAGR of 102% from RMB 47 million in 2015. As of September 2018, VBill had 948 employees. The transaction is expected to close in the first half of 2019, subject to completion of restructuring.

Contacts
Martin Mok, Partner, Head of EQT Mid Market Asia and Investment Advisor to EQT Mid Market Asia III, +852 6303 3077
EQT Press Office, press@eqtpartners.com, +46 8 506 553 34

About EQT
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SKYLINE RENEWABLES acquires additional wind portfolio

Ardian

The subsidiary of Ardian Infrastructure made the acquisition of four additional wind farms expanding Skyline’s holdings to 803 MW

Portland, February 12, 2019 – Skyline Renewables has purchased a 117 megawatt (MW) wind portfolio from NJR Clean Energy Ventures (CEV), the clean energy subsidiary of New Jersey Resources (NYSE: NJR).

The US wind farms are located in Iowa, Kansas, Pennsylvania and Wyoming providing clean renewable energy to major population centers across the country.

“We set out to become a leading North American clean independent energy platform,” said Skyline Renewables President & CEO, Martin Mugica. “This latest acquisition marks an important step forward as it diversifies our portfolio geographically and it marks the first tax equity financing fully negotiated by Skyline Renewables.  We are excited to extend our partnership with Capital One as tax equity partner with this portfolio and look forward to further opportunities as we execute our strategy.”

“We are delighted to partner with Skyline Renewables to help them complete this acquisition,” said George Revock, Managing Director and Head of Alternative Energy and Project Finance at Capital One. “This investment is emblematic of Capital One’s commitment to be a leading supplier of financing to the renewable energy sector.”

With this latest acquisition, Skyline Renewables will grow its wind portfolio to 803 MW of controlled capacity since forming the company earlier last year as a partnership between Ardian and Transatlantic Power Holdings. Skyline Renewables announced its first acquisition of Whirlwind Energy, a 60 MW project in NW Texas, in March 2018. In September 2018, they acquired Hackberry Wind Farm, a 166 MW farm also in NW Texas, and in October 2018 announced the acquisition of Starwood Energy’s 51% interest in the Horse Creek and Electra wind farms, both 230 MW projects.

“We are ambitious, nimble and we have deep industry expertise,” continued Mr. Mugica. “There are many promising opportunities ahead as we expand Skyline’s reach to different parts of the country with strong clean energy assets that will allow us to actively manage our assets and optimize returns.”

CCA Capital served as advisors to Skyline Renewables to support the tax equity financing.

ABOUT SKYLINE RENEWABLES

Skyline Renewables is a partnership between Transatlantic Power Holdings (TPH) and Ardian, a world-leading private investment house, to establish a leading North American renewables platform. With a current wind portfolio of 803 MW, Skyline Renewables aims to build a total installed capacity of 3 GW. Skyline Renewables was formed when it announced its first acquisition, Whirlwind, a 60MW windfarm in Texas, in March 2018. CEO, Martin Mugica, a top executive within the US clean energy sector with expertise in wind, solar, natural gas fired generation and power trading activities, leads Skyline Renewables. Skyline Renewables’ leadership team features a number of the individuals who helped build and lead Iberdrola Renewables to become the then second largest and fastest growing renewables energy company in the US, at that time.

Ardian Infrastructure is a world leading Infrastructure Fund Manager with special focus in Energy and Transport sectors. In the Renewable space, Ardian Infrastructure accounts circa 2 GW through various technologies: wind, solar, hydro and biomass. Ardian Infrastructure renewables is present in many geographies: North and South America and in Europe including Nordic countries.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 550 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 800 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt
Ardian on Twitter @Ardian
www.ardian.com

PRESS CONTACT

ARDIAN US
The Neibart Group
Charlie Mathon
cmathon@neibartgroup.com
Tel +1 718 801 8824
Cell +1 508 614 0667

 

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