Category Archives: News

ACM approves merger between BERGMAN CLINICS and NL HEALTHCARE CLINICS

NPM Capital

Specialised clinics offer superior care at competitive rates

The Netherlands Authority for Consumers & Markets green-lit the merger between Bergman Clinics and NL Healthcare Clinics (NLHCC) on 17 December 2018. With their specialised clinics, Bergman Clinics and NLHCC are leaders in the Netherlands in the medical disciplines of ophthalmology, orthopaedics, dermatology, plastic surgery and several other specific types of insured specialised medical care. The combined clinics seek to offer high-quality patient-centred care at competitive prices at facilities throughout the Netherlands. Following a transitional stage, the merged healthcare chains will start operating under the name Bergman Clinics. Newly appointed CEO Hans van der Heyden will assume office on the official completion of the merger of the two clinics in early January.

Once the merger is completed, the consolidated Bergman Clinics will be the market leader in treatments for health-insurance-covered hip, knee, shoulder, foot/ankle, back and eye conditions and plastic surgery procedures. The new Bergman Clinics also provides specialised care for skin conditions, gastrointestinal disorders, and pelvic floor dysfunction for women.

The new group will operate a 52-branch nationwide network of clinics with consolidated revenue of approximately €230 million and around 1,500 employees. The group expects to be able to create new jobs in the coming years by expanding existing clinics and opening new ones. The company also aims to drive innovation in the Dutch healthcare sector.

Discerning and selective clients

The merger comes at a time when Dutch consumers are becoming progressively more discerning and selective in their choices, and this certainly extends to medical services. Both patients and health insurance companies are increasingly prioritising proven quality of treatments, cost management, short waiting times and the overall quality of services provided. The specialised Bergman Clinics are able to provide high quality at competitive rates, which they combine with a client-focused approach, where service and client experience are vital.

Bergman Clinics will accommodate the group’s central support services at the Naarden site. Hans van der Heyden will chair the group’s Executive Board and head up the management team. For clients and referrers such as general practitioners, everything will remain unchanged in terms of day-to-day interaction with the clinics.

New Bergman Clinics CEO Hans van der Heyden is an experienced leader who previously held managerial positions at Procter & Gamble and other companies, as well as being a member of the global management of GrandVision. After being in charge of the Benelux market for eight years, he served as CEO of GrandVision USA, during which time he managed the integration of the For Eyes optical retail chain.

Current CEO Bart Malenstein will remain with the company as an Executive Board member for some time on completion of the merger, and both the Malenstein family and NL Healthcare Clinics shareholder NPM Capital – a subsidiary of family business SHV – will remain shareholders in the new company.

Current Bergman Clinics CEO Bert Malenstein: “We are ready to leverage the opportunities offered by this merger together. With our pooled resources, treatment teams will be able to focus their attention even more closely on their specialisation. There will also be more room to invest in technological innovation, digitalisation and training and education. When we first announced this merger back in September 2018, the feedback we received was very positive. It’s up to us now to prove that greater focus and the pooling of our resources lead to more efficient cost management and improved results. In appointing Hans van der Heyden, we have brought on board a strong leader who can add value through his experience, both in the integration process and in our objective to keep improving client experiences. Hans has worked with consumer brands for many years and is familiar with the healthcare industry. This is the perfect combination for the position of CEO at Bergman Clinics.”

Rutger Ruigrok, Managing Director at NPM Capital: “The scale, efficiency, professionalism and client focus of the merged organisation will strengthen our clinics’ brand and performance and will enable them to make an even more valuable contribution to the Dutch healthcare landscape.”

 

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Duff & Phelps Expands Service Offering with Acquisition of Prime Clerk

Carlyle

Launches Technology-Driven Claims and Noticing Administration Practice

NEW YORK – Duff & Phelps, the global advisor that protects, restores and maximizes value for clients, today announced it has signed a definitive agreement to acquire Prime Clerk, a claims and noticing administrator based in New York. The transaction, terms of which were not disclosed, is expected to close during the first quarter of 2019, subject to customary closing conditions and regulatory approval.

Prime Clerk provides claims administration services through its proprietary software and industry-leading team. The company’s suite of services includes case filing preparation, noticing solutions, claims administration, balloting and tabulation, securities noticing and balloting, corporate events (including rights offerings, tender offerings and treatment elections), secure disbursements, strategic communications and call center support, and case-specific websites.

Prime Clerk was founded in 2013 to bring a technologically advanced, professional and cost-effective claims management solution to the claims administration industry. Following the acquisition, Shai Waisman, Chief Executive Officer of Prime Clerk, will remain in his current position and head the Prime Clerk business unit of Duff & Phelps. Waisman will report directly to Jacob Silverman, President of Duff & Phelps.

Noah Gottdiener, Chief Executive Officer of Duff & Phelps, commented: “Prime Clerk is the undisputed leader in its industry, and I am thrilled to welcome this talented and accomplished group of professionals to Duff & Phelps. This acquisition, along with the addition of Kroll last year, creates a world-class suite of dispute, investigation and claims administration services for the legal channel. I share Shai’s vision for building the business, and I am confident that together we can accelerate growth in this vibrant arena.”

“Prime Clerk has a legacy of delivering superb client service leveraging the most respected professional staff and unmatched industry technology. Duff & Phelps has built a global and diversified franchise that helps clients protect and enhance their value through this shared philosophy. I am excited to bring our market-leading business into partnership with this outstanding group of professionals. I look forward to expanding the services we can offer to our clients and continuing our growth. All of us at Prime Clerk are excited about this new chapter for our firm,” said Waisman.

Shary Moalemzadeh, Co-Head of Carlyle Strategic Partners, said, “The combination of Duff & Phelps and Prime Clerk will benefit current and prospective clients of both companies. We are pleased with Prime Clerk’s growth and success during our investment and are excited to be investing in this transaction and to be a stakeholder in Duff & Phelps going forward as it adds the Prime Clerk platform to its business.  I am confident the combined company will continue to innovate and be a key strategic partner to companies throughout the U.S. and globally.”

UBS Investment Bank and Goldman Sachs acted as financial advisors to Duff & Phelps and provided committed financing in support of the transaction. Kirkland & Ellis and Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Duff & Phelps and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Prime Clerk and The Carlyle Group.

* * * * *

About Duff & Phelps

Duff & Phelps is the global advisor that protects, restores and maximizes value for clients in the areas of valuation, corporate finance, investigations, disputes, cyber security, compliance and regulatory matters, and other governance-related issues. We work with clients across diverse sectors, mitigating risk to assets, operations and people. With Kroll, a division of Duff & Phelps since 2018, our firm has nearly 3,500 professionals in 28 countries around the world. For more information, visit www.duffandphelps.com.

About Prime Clerk

Prime Clerk, a claims and noticing agent founded in 2013 and based in New York, was established by veteran attorneys and consultants to bring next generation technology, leading professionalism and reliable service into a stagnant industry. Prime Clerk delivers tailored, practical and client-collaborative solutions to claims administration. www.primeclerk.com

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents. www.carlyle.com

CONTACTS:

Duff & Phelps
Angela Tucciarone
+1 212-871-6237
angela.tucciarone@duffandphelps.com

The Carlyle Group
Liz Gill
+1-202-729-5385
Elizabeth.gill@carlyle.com

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The Carlyle Group Raises €1.35 Billion for CETP IV

Carlyle

  • Hits hard cap and nearly doubles the size of its prior fund
  • Leverages Carlyle’s deep technology expertise and global footprint to invest in lower middle market growth opportunities in Europe and the U.S.

WASHINGTON, DC and LONDON, UK – 31 January, 2019. Global alternative asset manager The Carlyle Group (NASDAQ:CG) today announced the first and final closing of CETP IV, a €1.35 billion fund that invests in lower middle market technology-focused companies in Europe and the U.S. Starting the capital raise in October 2018, the fund received substantial limited partner interest, enabling Carlyle to nearly double the size of its prior fund and hit its hard cap. Investors across the world committed capital to CETP IV, including sovereign wealth funds, public & corporate pensions, insurance companies, fund of funds, foundations, family offices and high net worth individuals.

The transatlantic 19-person CETP IV team will continue its strategy of investing in business-to-business companies in the European and U.S. lower middle market.  Since the firm’s inception, Carlyle has invested $16.2 billion in 193 investments within technology, media and telecommunications (TMT) as part of Carlyle’s Corporate Private Equity segment, which has assets under management of $82 billion and 294 investment professionals.

Michael Wand and Vladimir Lasocki, Managing Directors and Co-Heads of CETP IV, said: “We are grateful for the confidence of our investors, many of whom are repeat limited partners, and we are pleased to broaden our capital base with a number of new institutional investors. Their support is valued along with their ability to move quickly, which enabled us to achieve our hard cap in only three months.”

“We believe Carlyle’s global platform, combined with CETP IV’s local sector-specialist team, makes us the right partner for entrepreneurs and management teams to build global businesses, as we continue our nearly 20-year focus on investing in attractive technology opportunities in the lower middle-market on both sides of the Atlantic.”

Kewsong Lee, Carlyle’s Co-Chief Executive Officer, said: “We want to thank our limited partners for their immense support, which is a testament to CETP IV’s long-term performance and the team’s distinctive capabilities and positioning in the market.  CETP IV harnesses Carlyle’s deep technology expertise, extensive global networks and substantial operating resources to create a clear edge in value creation.”

*****

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

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

Media Contacts

UK:
Catherine Armstrong
Catherine.Armstrong@carlyle.com
+44 20 7894 1632

US:
Liz Gill
Elizabeth.Gill@carlyle.com
+1 202 729 5385

Margaret Popper/Devin Broda
MPopper@sardverb.com
DBroda@sardverb.com
+1 212 687 8080

Asia:
Tammy Li
Tammy.Li@carlyle.com
+852 2878 5236

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Blackstone Infrastructure Partners enters into definitive agreement to acquire controlling interest in Tallgrass Energy

Blackstone

Leawood, KS and New York, NY – January 31, 2019 – Tallgrass Energy, LP (NYSE: TGE) and Blackstone (NYSE: BX) today announced that affiliates of Blackstone Infrastructure Partners have entered into a definitive agreement with affiliates of Kelso & Co., The Energy & Minerals Group, and Tallgrass KC, LLC, an entity owned by certain members of TGE’s management, to acquire 100% of the membership interests in TGE’s general partner, as well as an approximately 44% economic interest in Tallgrass, for total cash consideration of approximately $3.3 billion. Affiliates of GIC, Singapore’s sovereign wealth fund, will be a minority investor in the transaction.

“Blackstone’s scale, long-term capital, and investment expertise across the energy industry make it an ideal partner for our business as we continue to create value and invest capital in accretive growth opportunities,” said Tallgrass President and CEO David G. Dehaemers Jr. “We appreciate the successful partnership we have had with Kelso and EMG since 2012 and thank them for their significant support. We look forward to working with Blackstone to continue maximizing value for all stakeholders.”

“Tallgrass is managed by an exceptional team that has an outstanding track record of commercial, operational and financial success,” said Sean Klimczak, Global Head of Infrastructure at Blackstone.  “This transaction represents a rare opportunity to invest in a large-scale U.S. midstream infrastructure platform that connects high-production supply basins to key markets and is underpinned by long-term contracts.  We are excited to partner with and to support the established Tallgrass management team over the long term as they execute on their robust backlog of attractive growth projects.”

Closing of the transaction remains subject to customary closing conditions and is expected within the first quarter of 2019.

Transaction Advisors

Baker Botts L.L.P. acted as legal advisor to Tallgrass.  Citi acted as the financial advisor and Vinson & Elkins acted as the legal advisor to Blackstone on the transaction. Sidley Austin LLP acted as the legal advisor to GIC.

About Tallgrass Energy

Tallgrass Energy, LP (NYSE: TGE) is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.

To learn more, please visit www.tallgrassenergy.com.

About Blackstone

Blackstone is one of the world’s leading investment firms.  We seek to create positive economic impact and long-term value for our investors, the companies in which we invest, and the communities in which we work.  We do this by using extraordinary people and flexible capital to help companies solve problems.  Our asset management businesses, with $457 billion in assets under management, include investment vehicles focused on infrastructure, private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis.  Further information is available at www.blackstone.com.  Follow Blackstone on twitter @Blackstone.

About GIC

GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. With its disciplined long-term value approach, GIC is uniquely positioned to invest in both the public and private markets, including equities, fixed income, real estate, private equity and infrastructure. In infrastructure, GIC’s primary strategy is to invest directly in operating infrastructure assets with a high degree of cash flow visibility and which provide a hedge against inflation. These include mature, low to moderate-risk assets in developed markets, complemented by investments with higher growth potential in emerging markets. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.

Cautionary Note Concerning Forward-Looking Statements

Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements, including whether the proposed transaction will occur in the first quarter of 2019 or at all. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass or Blackstone, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports filed by Tallgrass or Blackstone with the Securities and Exchange Commission. Any forward-looking statement applies only as of the date on which such statement is made and neither Tallgrass nor Blackstone intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.


Contact

Tallgrass Energy:

Investor and Financial Inquiries

Nate Lien, 913-928-6012

investor.relations@tallgrassenergylp.com

or

Media and Trade Inquiries

Phyllis Hammond, 303-763-3568

phyllis.hammond@tallgrassenergylp.com

Blackstone:

Paula Chirhart

Public Affairs, Blackstone

+1-212-583-5011

paula.chirhart@blackstone.com

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Rockefeller Group Sells New Industrial Building to KKR for $43.5 Million

KKR

Company Continues Plans for Future Inland Empire Developments Following Success of Optimus Logistics Center

IRVINE, Calif., Jan. 30, 2019 /PRNewswire/ — Rockefeller Group, a leading real estate developer, owner and operator, announced today that it has sold a recently completed 406,650-square-foot industrial distribution building to KKR for $43.5 million.  The building, located at Optimus Logistics Center in Perris, Calif., a 1.45 million-square-foot industrial complex, is the second building to be completed and sold at the project, following the September 2018 sale of a 1.04 million-square-foot distribution building to Ferguson Enterprises.

Optimus Logistics Center, Perris, Calif.

“The sale of the last building at Optimus marks an important milestone for Rockefeller Group in the Inland Empire,” said James V. Camp, Senior Vice President and Regional Development Officer for Rockefeller Group’s West Region.  “In less than two years, we were able to develop 1.45 million square feet of industrial space on a speculative basis along the I-215freeway and complete the business plan by selling both buildings shortly after completion of construction.  This success confirms that the I-215 corridor has become a destination for companies who need to distribute throughout the Western United States and also signifies the appetite by investors who see the area’s growth potential.”

Rockefeller Group completed construction of Optimus Logistics Center, which is a joint venture of Rockefeller Group and MBK Real Estate (MBK), in September 2018.

“We are excited to add Optimus Logistics Center to our industrial portfolio,” said Roger Morales, Head of Real Estate Acquisitions in the Americas at KKR.  “This is our first acquisition in the Inland Empire and we are confident that this investment will be attractive to potential tenants. Rockefeller Group has built an excellent asset.”

KKR is making the investment through its Real Estate Partners Americas II Fund.

“Throughout the escrow process on this sale, there was strong lease activity on this building given the site’s direct access to I-215 and proximity to I-10 as well as the growing demand for industrial space by e-commerce companies,” said Marc Berg, Vice President and Regional Director for Rockefeller Group’s West Region.  “We had been negotiating with several tenants prior to closing escrow with KKR and are confident that they will be successful in finding a tenant for the building in the near term.”

Along with the completion of Optimus Logistics Center, Rockefeller Group completed 425,500 square feet of distribution space consisting of two buildings at Tri-City Industrial Complex in San Bernardino, whereby one of those buildings (Building #2 at 81,286 square feet) sold to 4F Capital in September 2018.

“Rockefeller Group is committed to developing industrial distribution and e-commerce facilities in the Inland Empire given the current demand for space in the region,” said Camp.  “In 2019, the Inland Empire is expected to see continued strong absorption, stable vacancy rates and growing rents.  As a result, we will continue our development activities in the Inland Empire and other markets in the Western United States.”

Mike McCrary, Peter McWilliams, Sharon Wortmann and Scott Coyle of JLL represented Rockefeller Group and KKR for the sale at Optimus.

About Rockefeller Group
Rockefeller Group is a leading real estate developer, owner and operator, known since the development of Rockefeller Center for pioneering large-scale urban mixed-use development.  For nearly nine decades the company has been trusted for its financial strength, stability and vision, and today remains committed to the selective development of innovative, high-quality office, industrial, residential and mixed-use properties in urban centers and strategic distribution markets.  Visit RockefellerGroup.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.

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Bridgepoint acquires Miya from Arison Investments

Bridgepoint

  • 29 January 2019

International private equity group Bridgepoint has acquired Miya from the business arm of Arison Group for an undisclosed sum. Miya is the leading private operator of water distribution in Portugal, and a global provider of comprehensive integrated water efficiency solutions to public and private utilities.

Miya was created and founded by Shari Arison in 2008 as a private subsidiary of Arison Investments to realise the value in the efficient management of the world’s fresh water resources. The company provides end-to-end integrated solutions for urban water infrastructure networks on a global basis, specialising in complex, turnaround water efficiency projects.

Indaqua, a subsidiary of the group, is Portugal’s leading private water and wastewater operator. It serves seven utilities in Portugal’s north-west, covering an area of 1,000 square kilometres with a distribution network reaching more than 600,000 residents. Since acquiring the business in 2016, Miya has successfully applied its world-class efficiency practices to improve Indaqua’s operations and maximise the efficiency of water systems.

Shari Arison, owner of the Arison Group and founder and initiator of Miya, said: “Miya was created from deep within me, with the vision of bringing pure water to people around the world. What is most important to me is that this vision continues. I believe that Bridgepoint together with the management team and employees of Miya will continue this vision. I wish them all the best and continued success in bringing pure fresh water for all.”

Arison will continue to invest in companies that bring similar added value to people.

Managed by CEO Amit Horman and his team, the company employs over 600 staff and has dual headquarters in Madrid and Oporto. He said:

“On behalf of Miya management and employees, I would like to thank Shari Arison, David Arison, the Arison family, Arison Investments Chairman and CEO Efrat Peled, and the Arison Investments team for more than a decade of vision and values-based leadership. We are proud to serve the Portuguese market, and to export its talent to other parts of the world. We are thrilled to join Bridgepoint as a portfolio company, and believe this is the beginning of an exciting period of growth. We are completely aligned in understanding the challenges and opportunities in the market.”

Héctor Pérez, a Bridgepoint partner in Madrid, added: “We have been impressed with the operational performance led by Arison Investments, which Amit and his team have delivered across a diverse set of water infrastructure systems. We are excited to partner with Miya and take forward its values-led vision by further developing the company, building on its remarkable efforts to date in contributing to the availability of water resources.”

“Bridgepoint is one of the longest-established international private equity houses in Iberia and, following our recent acquisition of Ascenza (Sapec Agro) in Portugal in 2017, this transaction demonstrates our commitment to investing in businesses with a successful track record that contribute to the sustainability of natural resources while meeting the demands of a growing population” he concluded.

Miya is the first investment made by Bridgepoint Europe VI, a €5.7 billion middle market buyout fund.

Bridgepoint has been advised in this transaction by Citi (corporate finance), PwC Strategy& (commercial), Uría Menéndez (legal), EY (financial, tax & labour), ERM (ESG) and Willis (insurance).

Press enquiries

For all press enquiries, contact James Murray on +44 (0) 20 7034 3555

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AURELIUS subsidiary GHOTEL hotel & living to open new hotel in Munich

Aurelius Capital

  • New hotel to be operated as a franchisee for AccorHotels in Munich
  • Fifth AccorHotels location to open in 2022
  • GHOTEL to continue its successful expansion at a rapid pace in 2019

Munich / Bonn, January 29, 2019 – The GHOTEL Group (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), will open another hotel in Munich-Neuperlach as a franchise partner of AccorHotels. Thus, the successful collaboration with AccorHotels continues with the fifth jointly operated location. The hotel will have 172 rooms on five floors and will be marketed in the 3-star segment under the brand name ibis Styles. The opening of the newly built hotel is planned for 2022.

The new hotel will be conveniently located close to the subway line and across from the well-known shopping center “PEP Einkaufscenter Neuperlach.” It will be built in the middle of an attractive neighborhood of office buildings within easy reach of the Munich Exhibition Center. The lessor is the project development company CONCRETE Capital in a joint venture with BHB Bauträger GmbH Bayern. The hotel development is part of the “New Neuperlach Center” project, featuring a usage mix ranging from local supply and services, rental and student apartments to top-quality restaurants.

“We are expanding our portfolio in Munich with this new hotel to be operated under the ibis Styles brand. Beginning in 2022, the new hotel in München-Neuperlach will complement the two existing GHOTEL hotel & living locations in “Munich City” and “Munich-Nymphenburg,” which we have operated for many years. At the same time, we are deepening our successful partnership with AccorHotels. This is already the fifth project we will realize with Accor within a short period of time,” says Jens Lehmann, Managing Director of the GHOTEL Group.

Franchise agreements for two hotels to be operated at Düsseldorf Airport under the Novotel and ibis brands were signed in November 2017. The opening of these hotels is planned for 2020. In addition, franchise agreements for two new hotels in Bayreuth were signed with AccorHotels in mid-2018. These are expected to open in late 2019. With the latest contract signing, the GHOTEL Group has again positioned itself as an attractive franchise partner for the AccorHotels international hotel group.

The expansion of the GHOTEL Group will continue at a rapid pace in the current year as well.

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NetCo reaches a final agreement with IK Investment Partners

ik-investment-partners

IK Investment Partners (”IK”), a leading Pan-European private equity firm, is pleased to announce the signing of a sale and purchase agreement with the Groupe NetCo (”NetCo”), a specialist of preventive and curative maintenance of belt and roller conveyors. NetCo will be the fifth acquisition in IK’s Small Cap II Fund, which targets growing businesses within the Benelux, DACH, France, and the Nordics.  Financial terms of the transaction are not disclosed.

Founded in 1902 in France, NetCo has grown to become a European specialist in conveyor systems across key industries including quarries, food and heavy goods.

Through its three business units; NetCo Services, NetCo Distribution, NetCo Systems, NetCo holds a leading position on the maintenance of conveyor markets for both services and distribution, and has become a strategic partner for customers by supporting critical parts of their industrial processes. NetCo is headquartered in Bordeaux and operates 55 agencies with 500 employees across France. The business has a further presence across Belgium  and Luxembourg, and a foothold in North Africa (Morocco), the Middle East (Bahrain) and South East Asia (Indonesia).

To meet ever-growing European demand of outsourced maintenance services and initiate their international expansion, NetCo managers (Samuel and James Perriez) partnered with WINCH Capital 3, a fund managed by Andera Partners, through a primary growth capital transaction at the end of 2016. NetCo adopted a strong acquisitive strategy, most recently acquiring ABM TECNA, a Belgium conveyor system specialist in 2017. The company has completed 32 transactions since 2000, 14 of which in the past three years. This partnership enabled the group to double its size within two years.

Pierre Gallix, Partner at IK, said:

“We are delighted to partner with NetCo, business with a diverse and competitive product offering and a phenomenal legacy which spans more than a century. We are especially impressed with the company’s track record of integrating bolt-on businesses and the breadth of its longstanding management team. We look forward to working with them to help NetCo become the number one player in the European conveyor belt service market.”

Arnaud Bosc, Partner at IK, added:

“NetCo’s multi-brand offering and high-quality solutions have contributed to the company’s outstanding reputation across multiple industries. We are delighted to work with NetCo and look forward to supporting the business as it continues to expand its global presence.”

Samuel Perriez, President of NetCo commented:

“Thanks to the support of Andera Partners, the company has been able to achieve remarkable growth in France and in Belgium over the last three years. IK’s support of NetCo paves the way for new international ambitions”

James Perriez, CEO of NetCo added:

“We are excited to be partnering with IK as we enter the next stage of our growth strategy. IK’s track record of investing in industrials paired with their strong European roots make them the perfect partner to help our business expand its presence while staying true to our local roots.”

François-Xavier Mauron and Antoine Le Bourgeois, Partners at Andera Partners, concluded:

“The change of scale of NetCo from a leading French player to a pan-European champion over only two years illustrates perfectly the DNA of the WINCH Capital team as a hands-on investor and partner to management. We are excited to welcome IK and further accompany Samuel and James Perriez for the next cycle of growth of NetCo.”

The closing of the transaction is conditioned to the approval by the French Antitrust authorities.

For further questions, please contact:

IK Investment Partners
Pierre Gallix, Partner
Phone: +33 1 44 43 06 60

Arnaud Bosc, Partner
Phone: +33 1 44 43 06 60

Mikaela Murekian
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

Andera Partners

Nicolas Delsert
Director Communication
Phone: +33 1 85 73 52 88

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 120 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Andera Partners
Created in 2001 as part of the Edmond de Rothschild Group and wholly owned by its employees since March 2018, Andera Partners is a leading investor in private companies in France and internationally. It manages €2.3 billion in investments in life sciences (BioDiscovery), growth capital and buyout capital (Winch Capital in mid-cap and Cabestan Capital in small-cap) and sponsorless mezzanine debt (ActoMezz). www.anderapartners.com

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DIF acquires Warradarge Wind Farm in Australia

DIF

Sydney, 29 January 2019 – DIF is pleased to announce the acquisition of the 180MW Warradarge Wind Farm, the third and largest asset to be acquired by the renewable energy investment vehicle ‘Bright Energy Investments’ which is a joint venture between DIF Infrastructure V, CBUS and Synergy.

The Warradarge Wind Farm is a greenfield project located near Eneabba in Western Australia and is recognised as one of the best renewable energy projects in Australia due to its location and abundant wind resource. The total output will have a circa 50% capacity factor, the equivalent to the average annual electricity needs of 135,000 Western Australian homes.

Vestas has been awarded the engineering, procurement and construction contract as well as the operations and maintenance contract with a yield-based availability guarantee. Construction is expected to commence in early 2019, creating up to 200 local jobs and first power is expected to be generated in 2020. Its 51 turbines will be among the largest in Western Australia with a tip height of 152 metres, sporting some of the longest blades onshore at 66 metres. Synergy, an electricity generator and retailer that is owned by the Western Australian Government, will purchase all electricity and renewable certificates from the project, assisting Synergy and Western Australia to meet its 2020 Large-scale Renewable Energy Target obligations.

This investment fits neatly within DIF’s mandate to acquire infrastructure and renewable energy assets that will deliver long-term stable cash flows for the fund and add to DIF’s existing portfolio of Australian renewable energy assets.

Marko Kremer, DIF’s Head of Australasia added: “DIF is delighted that it played a leading role in this significant project for Western Australia and excited to make a large contribution to the growing Australian renewable energy market, which supports the nation’s commitment to a greener economy, as well as creating job opportunities in Western Australia.”

About DIF
DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has a team of over 110 professionals, based in eight offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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EURAZEO growth reinvests in CONTENTSQUARE to accelerate its development

Eurazeo

Paris, January 24, 2019 – Eurazeo has announced the sale to AXA of its 22% stake in Capzanine,
an independent European management company specializing in private investment.
Since entering Capzanine’s share capital in October 2015, Eurazeo and AXA have helped Capzanine
accelerate its growth in the debt and equity sectors and develop international partnerships.
During this period, Capzanine has significantly expanded its business, increasing assets under
management from €1.1 billion to €2.5 billion.

This transaction is accompanied by the assumption by AXA and other investors of all Eurazeo
commitments in funds managed by Capzanine, excluding an €8 million commitment in Capzanine
Situations Spéciales.

The transaction amount is approximately €82 million. This includes shares in the management
company on which Eurazeo realizes a multiple of just over 3x the initial investment and fund shares
recently subscribed by Eurazeo.
**
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 225 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 and Madrid.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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