Category Archives: News

Dominion Energy, Stonepeak Announce Closing of Sale of Noncontrolling Equity Interest In Coastal Virginia Offshore Wind Commercial Project

Stonepeak

  • Improves Dominion Energy’s quantitative & qualitative business risk profile via highly credit-positive partnership
  • Stonepeak to fund 50% of project construction costs with meaningful protection from any unforeseen increases in the current project construction budget
  • Successfully concludes ~$21 billion debt reduction initiatives associated with Dominion Energy’s business review

RICHMOND, Va. & NEW YORK – October 22, 2024 – Dominion Energy, Inc. (NYSE: D), today announced that it has closed on a transaction to sell a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak. Dominion Energy will retain full operational control of the construction and operations of the project, and Stonepeak will have customary minority rights. The transaction was previously announced Feb. 22, 2024.

With this transaction, Dominion Energy has now successfully completed its business review debt reduction initiatives. During the review, the company announced transactions that represent approximately $21 billion of debt reduction. With the closings of the Cove Point LNG, East Ohio Gas, Questar Gas and Wexpro, and Public Service Company of North Carolina sales; and completion of the fuel securitization at Dominion Energy Virginia and the offshore wind partnership, Dominion Energy has now achieved 100% of the business review target. These actions have improved the company’s balance sheet, reduced its risk profile, and established a renewed focus as a pure-play, state-regulated electric utility business.

Robert M. Blue, Dominion Energy chair, president and chief executive officer, said:

“We are pleased to partner with Stonepeak on CVOW, which continues to proceed on-time and on-budget, consistent with our previously communicated timing and cost expectations. Stonepeak is one of the world’s largest infrastructure investors in large energy projects such as offshore wind, and its financial participation in CVOW will benefit both the project and the people who will rely on electricity from CVOW to keep the lights on and fuel economic growth in the Commonwealth.”

Rob Kupchak, senior managing director at Stonepeak, added:

“We are excited to have closed this investment in CVOW, which exemplifies many of the core tenets of essential infrastructure that we invest behind at Stonepeak. We look forward to continuing our partnership with Dominion Energy’s talented team to bring what promises to be one of the most impactful energy projects in the United States to commercial operation.”

The 2.6-gigawatt CVOW, the largest offshore wind farm currently under construction in the United States, is on schedule to generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026. CVOW will consist of 176 turbines and three offshore substations in a nearly 113,000-acre lease area off the coast of Virginia Beach.

At closing, Dominion Energy received proceeds of $2.6 billion, representing reimbursement of approximately 50% of project-to-date capital investment. Stonepeak will fund 50% of remaining project costs as they are incurred, subject to certain conditions as previously disclosed.

About Dominion Energy
Dominion Energy (NYSE: D), headquartered in Richmond, Va., provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 400,000 customers in South Carolina. The company is one of the nation’s leading developers and operators of regulated offshore wind and solar power and the largest producer of carbon-free electricity in New England. The company’s mission is to provide the reliable, affordable, and increasingly clean energy that powers its customers every day. Please visit DominionEnergy.com to learn more.

About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to various risks and uncertainties. These factors are identified in Dominion Energy’s Forms 10-K and 10-Q filed with the U.S. Securities and Exchange Commission. Dominion Energy refers readers to those reports for further information. Any forward-looking statement speaks only as of the date on which it is made, and Dominion Energy undertakes no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date on which it is made.

#####

CONTACTS:

Dominion Energy:
Media: Ryan Frazier, (804) 836-2083 or C.Ryan.Frazier@dominionenergy.com
Financial Analysts: David McFarland, (804) 819-2438 or David.M.McFarland@dominionenergy.com

Stonepeak:
Media: Kate Beers / Maya Brounstein, (646) 540-5225 or corporatecomms@stonepeak.com

Categories: News

Tags:

Rivean Capital acquires Perbility, one of the leading HCM software providers in Germany

Rivean
  • One of the leading providers of comprehensive and cloud-native human capital management (HCM) software
  • Strong positioning across German (semi-)regulated and B2B sectors

22 October 2024

Frankfurt/Bamberg – Rivean Capital, a leading European private equity investor, has signed an agreement to acquire a majority stake in Perbility Holding GmbH, one of the leading HCM software providers in Germany. The transaction marks another significant platform investment by Rivean Capital in the technology and software sector. Together with Perbility’s current management team, Rivean Capital will acquire the shares from the existing majority shareholder Main Capital Partners.

Perbility’s comprehensive HCM suite – the HELIX platform – covers the entire HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. The company serves more than 1,500 customers, with notable customer references in the financial services sector, the (semi-)public and B2B sectors. Perbility is expected to reach EUR 29 million revenue in 2024, having developed itself into a “Rule of 50” company. Headquartered in Bamberg, the company employs approximately 160 full-time employees across six offices in Germany and a nearshoring center in Turkey.

“Under Main Capital Partners’ ownership, Perbility has shown an impressive growth trajectory, supported by strategic initiatives and a track record in M&A. As next strategic partner, Rivean Capital will support Perbility with expertise and further investments to continue its clear growth strategy. Together, we will strengthen Perbility’s market position in the German-speaking region and further enhance its suite offering through additional strategic add-on acquisitions,” says Matthias Wilcken, Senior Partner at Rivean Capital.

Andreas Meck, founder and CEO of Perbility, will maintain his current position and make a substantial reinvestment in the company. The broader management team will also invest alongside him in the future development of the company.

“We are pleased to have Rivean Capital as a strong and experienced partner by our side, who will support us with capital and strategic expertise to achieve our growth ambitions. With this partnership, we are well-positioned to further expand our market position and attract new customers”, says Andreas Meck, founder and CEO of Perbility.

Next phase of growth and expansion

The new partnership with Rivean Capital will enable Perbility to accelerate its up- and cross-selling efforts across its existing customer base, while further expanding the HELIX platform with new modules. Under Rivean Capital’s ownership, Perbility plans to strengthen its organizational capabilities, and further strengthen its sales team, which will enable the company to expand its reach in the (semi-)public and B2B markets and pursue geographic expansion within the DACH region – also via additional strategic add-on acquisitions.

—

About Rivean Capital
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage over EUR 5 billion in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean Capital also has offices in Brussels, Frankfurt/Main, Milan, and Zug, enabling a strong local presence across key European markets.

About Perbility
Perbility is a software provider of cloud-based HR software solutions, founded in 2009 and headquartered in Bamberg, Germany. The company specializes in delivering flexible and intuitive tools that help organizations digitize their HR workflows and enhance operational efficiency. Perbility’s comprehensive suite covers the HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization. With a diverse customer base of over 1,500 clients, primarily in the German mid-market, and a dedicated team of approximately 160 full-time employees, Perbility is committed to empowering organizations to optimize their HR processes and drive workforce success.

About Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH, the Nordics, and the United States with approximately EUR 6 billion in assets under management. Main has over 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve profitable growth and larger outstanding software groups. As a leading software investor managing private equity funds active in Northwestern Europe and North America, Main has 75 employees operating out of its offices in The Hague, Düsseldorf, Stockholm, Antwerp, and an affiliated office in Boston.

Media contact Rivean Capital
Susanne Jahrreiss / Ralf Geissler
Jahrreiss Communications
Tel.: +49 89 30 90 52 950
E-mail: welcome@jahrreiss.com

Categories: News

Tags:

AlphaGen Announces Successful Completion of $3.7 Billion Inaugural Corporate Financing

Arclight

HOUSTON, Oct. 23, 2024 /PRNewswire/ — Alpha Generation, LLC (“AlphaGen”), owner of one of the largest power infrastructure portfolios in the United States, today announced it has completed its inaugural corporate financings, consisting of a $2 billion senior secured term loan, $1 billion of senior notes, and a $700 million senior secured revolving credit facility. ArcLight Capital Partners, LLC (together with its affiliates, “ArcLight”), a leading middle market infrastructure firm, announced the creation of AlphaGen earlier this year.

The financing transactions were part of a corporate reorganization where existing companies – including Parkway Generation, Generation Bridge, and recently acquired Lordstown Energy Center – became subsidiaries of AlphaGen. Net proceeds from the term loan and notes were used to repay certain indebtedness of these subsidiaries, support commercial and strategic opportunities, and fund other general corporate purposes.

“We are pleased to announce the successful completion of our strategic financing initiative, which strengthens our financial position and enhances our ability to capitalize on the growing demands in the power industry,” said Stacey Peterson, Chief Financial Officer of AlphaGen. “This significant milestone underscores investor confidence in the AlphaGen portfolio and its strategic footprint which is well positioned to help meet growing power demand, including through ongoing work with data center developers and hyperscalers.”

Citi served as lead financing bank, White & Case LLP served as counsel to AlphaGen, and Cahill Gordon & Reindel LLP served as counsel to Citi and the other lead arrangers on the financing transactions.

About AlphaGen
AlphaGen is a strategic partnership formed and owned by an affiliate of ArcLight to own and operate critical power infrastructure to provide reliable, secure, safe, and sustainable sources of power and meet the growing infrastructure needs created by the increased demand for reliable power, including electrification and data center growth. AlphaGen is led, through Alpha Generation Services LLC, by a deeply experienced senior management team with a proven track record of strategic, operational, and commercial expertise to help create value and manage risk. AlphaGen owns over 11,000 megawatts of power infrastructure across four RTO markets (PJM, NYISO, ISONE, and CAISO). For more information, please visit www.alphagen.com.

About ArcLight
Founded in 2001, ArcLight is a leading middle-market, value added infrastructure investment firm with strategic partnerships and investments across the power, renewables, strategic gas, battery storage, and transformative infrastructure sectors. ArcLight has a long history of investing across the electrification infrastructure value chain to help support reliability, security and sustainable infrastructure. ArcLight’s team employs an operationally intensive investment approach that benefits from its dedicated in-house strategic, technical, operational, and commercial specialists, as well as the firm’s ~1,900-person asset management partner. Since 2001, ArcLight’s funds have invested in infrastructure and related businesses with approximately $75 billion of total capitalization. For more information, please visit www.arclight.com.

SOURCE Alpha Generation, LLC

Categories: News

Randstad to acquire Zorgwerk in the Netherlands

Randstad to acquire Zorgwerk in the Netherlands

Acquisition strengthens Randstad’s position as a leading talent provider in the growing healthcare and care sector.

Randstad NV, the world’s leading talent company, announces its intention to acquire Zorgwerk, a leading digital healthcare marketplace in the Netherlands to strengthen its specialized offering in the healthcare and care sector.

Zorgwerk is a healthcare and care talent provider recognized for its innovative approach to serving the talent needs of clients in the healthcare, social assistance and childcare sectors. Its business model is underpinned by a digital marketplace that efficiently matches healthcare and care professionals to the current demand but also prepares its 75,000 healthcare and care professionals for the future through skilling and development.

Demand for specialized healthcare and care talent continues to grow in the Netherlands, with 1 in 7 people currently working in the ecosystem and it’s estimated to grow to 1 in 4 by 2040 as a response to the needs of an aging population. Healthcare and care providers use Zorgwerk to meet their talent demands which span from emergency replacements to long-term positions. Its healthcare and care professionals have real-time access to the digital platform so they are empowered to choose when and where they work.

“We are excited to welcome the Zorgwerk team and its extensive network of qualified and dedicated healthcare and care professionals to Randstad. As part of our strategy, we are focused on growing segments and leveraging digital marketplaces to create more personalized and efficient engagements with clients and talent. By combining Randstad and Zorgwerk we can serve the broadest set of needs of our healthcare clients, across all types of work arrangements, to help address the critical challenges of the healthcare and care industry where talent scarcity is most pronounced.”
— Sander van ‘t Noordende, CEO Randstad

“With Randstad, we have found a strong partner who supports our growth ambitions. Our culture revolves around talent and clients, with innovation and the improvement of our business processes at the core. This combination will allow us to build a leading and respected position in the healthcare talent industry. Together with Randstad, I see great potential to further enhance our strategy, accelerate our growth and offer great advantages to society.”
— Daniëlle van der Burg, CEO Zorgwerk

The transaction is subject to consultation with employee representative bodies and its completion is subject to clearance by the Netherlands Authority for Consumers and Markets (ACM). Parties aim to complete the transaction in the coming period.

About Randstad
Randstad is a global talent leader with the vision to be the world’s most equitable and specialized talent company. As a partner for talent and through our four specializations – Operational, Professional, Digital and Enterprise – we provide clients with the high-quality, diverse and agile workforces that they need to succeed in a talent scarce world. We help people secure meaningful roles, develop relevant skills and find purpose and belonging in their workplace. Through the value we create, we are committed to a better and more sustainable future for all.

Headquartered in the Netherlands, Randstad operates in 39 markets and has approximately 40,000 employees. In 2023, we supported 2 million talent to find work and generated a revenue of €25.4 billion. Randstad N.V. is listed on the Euronext Amsterdam. For more information, see www.Randstad.com.

About Zorgwerk
Zorgwerk specializes in mediating talents for the healthcare and care industry. With 26 years of experience, we have established ourselves as a national player in the industry. Operating from a single office in Rotterdam, Zorgwerk serves multiple sectors, including homecare, elderly care, disability care, mental health care, childcare, social welfare and hospitals.

With a wide array of job roles and over 1 million talent matches per year, Zorgwerk ensures that the right talents are placed in the right positions at the right time, whether for same-day short-term assignments or long-term placements. Additionally, Zorgwerk runs an in-house academy to empower our talents. Zorgwerk contributes to both the healthcare industry and society with power and love.

Categories: News

Tags:

CoStar Group to Acquire Visual Lease, a Leading Lease Administration and Accounting Platform

Spectrum Equity

WASHINGTON (October 22, 2024) – CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, announced today that it has reached a definitive agreement to acquire Visual Lease. The strategic acquisition will enhance CoStar Group’s Real Estate Manager business line and provide additional lease management and lease accounting value to corporations of all sizes.

Founded in 1996, Visual Lease is a premier software platform for integrated lease management, accounting, and reporting, used by over 1,500 organizations across the business services, construction, healthcare, manufacturing, and retail sectors. Visual Lease offers support for each team involved in managing a company’s leased and owned assets through a seamless platform that encourages strategic financial and operational outcomes for organizations.

CoStar Real Estate Manager helps customers across the globe manage every phase of the lease lifecycle, providing vital lease administration, lease accounting compliance, and transaction management applications, ensuring seamless workflows between real estate and accounting teams.

This strategic acquisition will enhance functionality for businesses of all sizes by providing industry leading lease management and accounting solutions coupled with the power of CoStar’s data and analytics. The combination will also enhance relationships with key real estate and accounting service providers and increase integration opportunities with key technology partners.

“Visual Lease and CoStar Real Estate Manager are driven by the same mission of integrating all lease management portfolio functions into one user-friendly platform. Bringing Visual Lease into the CoStar Group family will allow us to create the best possible experience for our customers,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “By combining CoStar Group’s industry expertise with Visual Lease’s diverse customer base, deep lease portfolio management expertise, and leading sustainability solutions, we are well positioned to offer a more comprehensive service offering and continue growing both nationally and internationally. I look forward to welcoming the Visual Lease team to CoStar Group and working together to develop new capabilities to better serve our clients.”

“This marks an exciting new chapter for Visual Lease,” said Marc Betesh, Founder & Executive Chairman of Visual Lease. “This partnership with CoStar Group will allow us to propel our vision to even higher levels. I am incredibly proud of everything we have achieved since we began on this journey almost 30 years ago and am excited for all that is ahead.”

“From its inception, Visual Lease has focused on helping companies optimize the value of their lease portfolios. This moment and next step forward with CoStar Group is a testament to our team’s dedication to this mission. Joining forces with CoStar Group will accelerate our growth, expand our offerings, and even further enhance how we serve our customers,” said Robert Michlewicz, Chief Executive Officer of Visual Lease.

Citi served as exclusive financial advisor to CoStar Group on the transaction and Milbank LLP served as its legal advisor. Shea & Company, LLC served as exclusive financial advisor to Visual Lease and Latham & Watkins LLP served as its legal advisor.

Visual Lease is backed by Spectrum Equity and Growth Street Partners.

CoStar Group plans to provide additional information about the Visual Lease acquisition during its earnings conference call at 5:00pm ET on October 22, 2024.

Investor Relations Contact
Rich Simonelli
CoStar Group
(973) 896-8184
getrich@costar.com

News Media Contact:
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com

About CoStar Group, Inc.

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over thirteen million average monthly unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

About Visual Lease (VL)

Visual Lease (VL) is a premier platform for integrated lease management and lease accounting, trusted by enterprises worldwide to navigate complex portfolios with precision and ease. As the centralized system of record for all lease-related financial, operational, and legal data, VL is purpose-built to support every team involved in managing a company’s leased and owned assets. Informed by nearly three decades of experience, our platform integrates lease management, lease accounting, and sustainability reporting, enabling organizations to save time, mitigate risks, reduce costs, and support sustainability initiatives. Our award-winning software is used by 1,500+ organizations to manage more than 1 million real estate, equipment, and other leased asset records globally. For more information, visit visuallease.com.

The specific companies identified above do not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. View the complete list of our portfolio companies. Spectrum is not responsible for the contents of any third party website linked above, and has not confirmed the accuracy of any information provided therein.

Categories: News

Tags:

CVC Credit supports the de-listing of Alpha FMC from the London Stock Exchange

CVC Capital Partners

CVC Credit, the €43 billion global credit management business of CVC, is pleased to announce that it has provided debt facilities to support the de-listing of the financial services consultancy, Alpha Financial Markets Consulting plc (“Alpha FMC”), by Bridgepoint from the AIM market of the London Stock Exchange.

Headquartered in London, Alpha FMC is a consultancy focused on the asset, wealth management and insurance sectors, specialising in areas including business strategy, operations, distribution, digital transformation and regulatory compliance. Its large, 1,000 strong global client base includes 80% of the top 50 largest global asset managers. The company employs more than 900 consultants across 17 offices around the world.

Simone Zacchi, Partner at CVC Credit, commented: “Alpha FMC is a leading asset and wealth management consultancy in the UK, with a strong reputation and track record of outperformance to its peer group. We are pleased to be supporting the next phase of its growth strategy in its newly established private environment through the provision of both term loan and acquisition facilities.”

Quotes

CVC Credit has a track record of supporting strong and stable businesses who are backed by experienced financial sponsors and this is exactly the case with Alpha FMC.

John EmpsonManaging Partner and Co-Chair of CVC Credit

John Empson, Managing Partner and Co-Chair of CVC Credit, said: “We are pleased to be partnering with Bridgepoint once again, having supported several of their other recent acquisitions including Analysys Mason, PharmaZell and Vivacy. CVC Credit has a track record of supporting strong and stable businesses who are backed by experienced financial sponsors and this is exactly the case with Alpha FMC.”

Download full press release

Categories: News

Tags:

Zabka Group Begins Trading On The Warsaw Stock Exchange

CVC Capital Partners

On 17 October 2024 Zabka Group debuted on the main market of the Warsaw Stock Exchange. The share price at the opening on the first day of trading was PLN 23, 7% higher than the price in the initial public offering. The debut on the WSE is the culmination of the company’s public offering, which had a value of PLN 6.45 billion. It is the largest public offering in Poland since 2020, one of the biggest in the history of the WSE, and the fourth-largest offering in Europe this year.

Tomasz Suchański, CEO of Zabka Group, said: “Zabka Group’s listing on the Warsaw Stock Exchange marks a major step in implementing our long-term growth strategy. We are well-positioned to double sales to end customers by 2028 and to open approximately 1,000 stores annually in Poland and Romania. The significant interest in our public offering from renowned Polish and international financial institutions, as well as retail investors, reflects the market’s confidence in our future. This support will further motivate us to continue to deliver stable and profitable growth, and to build value for our shareholders, customers and franchisees.”

Krzysztof Krawczyk, Chairman of the Board of Directors of Zabka Group and Partner at CVC Capital Partners, commented: “We are proud that our long-term partnership with Zabka Group has led to one of the biggest stock market debuts in the history of the WSE. We applaud the consistent strategic execution and the commitment to growth on the part of both Zabka Group’s management and employees. I would also like to thank our fellow shareholders, Partners Group and the EBRD, for their commitment to Zabka Group’s success and their continued support of the business.”

Key information about the Zabka Group public offering

  • The Offering comprised a public subscription for 300,000,000 existing shares, excluding any Over-Allotment Shares. Based on the set offer price (PLN 21.50, the top of the price range), the value of the Offering was PLN 6.45 bn.
  • Additionally, up to 45,000,000 Over-Allotment Shares are offered in the IPO. Assuming the Over-allotment Option is exercised in full, the value of the Offering will increase to PLN 7.42 bn.
  • The Selling Shareholders decided to allocate 5% of the final number of the Sale Shares in aggregate to Retail Investors (4.4% including Over-Allotment Shares).
  • The reduction rate for subscriptions of retail investors was 90.45%.
  • The Offering consisted of:
  • a public offering in the territory of Poland, including: (a) the Retail Offering and (b) the Polish  Institutional Offering, in accordance with Regulation S under the U.S. Securities Act;
  • an offering in the United States to persons reasonably believed to be qualified institutional buyers as defined in, and in reliance on, Rule 144A, or another exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act; and
  • an offering to certain other institutional investors outside of the United States and Poland in accordance with Regulation S under the U.S. Securities Act.
  • Goldman Sachs Bank Europe SE and J.P. Morgan SE acted as the Joint Global Coordinators and Joint Bookrunners and PKO BP – Biuro Maklerskie w Warszawie (PKO Securities) as an Offering Agent and Joint Bookrunner. Banco Santander, Biuro Maklerskie Pekao, BNP PARIBAS, CVC Capital Markets, Morgan Stanley and Pekao Investment Banking also acted as Joint Bookrunners. ING, mBank and Trigon acted as Co-Bookrunners.
  • The Retail Consortium in Poland, accepting subscriptions from Retail Investors, included PKO Securities, and brokerage houses of Alior Bank, BNP Bank Polska, Bank Handlowy, Millenium Bank, ING Bank Śląski, mBank, Pekao, BOŚ, BDM, Ipopema Securities, Noble Securities, Santander and Trigon.
  • GREENBERG TRAURIG Nowakowska-Zimoch Wysokiński sp.k., Freshfields Bruckhaus Deringer LLP and Elvinger Hoss Prussen société anonyme acted as Legal Counsel to the Company and the principal selling shareholder. Baker McKenzie Krzyżowski i Wspólnicy sp. k. and Allen Overy Shearman Sterling LLP acted as Legal Counsel to the Joint Bookrunners.
  • PwC Polska acted as the advisor to the Company and OC&C Strategy Consultants prepared market and industry reports for the purpose of the Prospectus.

Download full press release

Categories: News

Tags:

Altor divests Carnegie to DNB Bank

On October 21, Altor Fund III (“Altor”) has entered into an agreement to divest Carnegie Investment Bank (“Carnegie”), a leading investment bank and asset manager in the Nordics, to DNB Bank ASA (“DNB”). Carnegie was acquired by Altor in 2009 with the strategic objective to build the leading investment bank and asset manager in the Nordic region.

Over the past 15 years, Carnegie has grown to become a leading Nordic investment bank and asset manager with strong positions in equities research, brokerage, corporate finance advisory and private wealth management. For several years in a row, clients have rated Carnegie as the highest performing advisor across all business areas, and operating income has more than tripled over the period; a testament to a culture of putting the client first and providing the highest quality of advise possible, all while working together across the firm as one team.

“We have always shared the entrepreneurial spirit and client-focused approach with Harald and the team at Altor. Together we have built Carnegie into a strong, well-diversified and future-proof company, and we are thrilled to enter into this new chapter with DNB, a partner that we think is a perfect fit both culturally and from a business perspective” said Tony Elofsson, CEO at Carnegie.

“Carnegie is a company close to heart for us at Altor; we have been part of this journey for so many years and celebrated countless milestones together. It is with great pride that I reflect on the talent and motivation that drives the team at Carnegie, and I want to thank all the people that have contributed to the success over the years. Back in 2009, we invested in a challenger, and over the years they have grown into a true market leader.” said Harald Mix, Partner at Altor and Board member at Carnegie.

“It has been a great joy to work with Tony Elofsson and the team over the years. We are impressed by their continuous innovation, not least in the digital arena with new business initiatives like Montrose by Carnegie. We look forward to following the next chapter of the journey as Tony and the team builds an even stronger Nordic franchise together with DNB” added Gustav Alenmyr, Director at Altor and Board member of Carnegie.

The Transaction is expected to close in the first half of 2025, pending regulatory approvals in applicable jurisdictions.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Sbanken, Trioworld, Mandatum, Marshall and Kommunalkredit.

About Carnegie

Carnegie is the foremost financial adviser and asset manager in the Nordics. We bring investors together with entrepreneurs and companies to enable clients, owners, and society to grow sustainably. Carnegie has a strong presence across all business areas, including asset management, private banking, investment banking, and securities. Founded in 1803, Carnegie is one of the oldest brands in the region. The bank employs approximately 850 professionals across six countries and generated revenues of SEK 3.4 billion in 2023. Our vision is to be the most competent and respected financial adviser and asset manager in the Nordics. Carnegie is renowned for its strong corporate culture, built on integrity, independence, and a long-term perspective. This culture has made Carnegie one of the most successful and respected financial advisors and asset managers in the Nordic region.

About DNB

DNB is Norway’s largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. The Group offers a full range of financial services, to 237 000 corporate customers and 2 million personal customers. DNB is a major operator in a number of industries, for which DNB also has a Nordic or international strategy.

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

Categories: News

Tags:

Sofyne Active Technology partners with AG Solution to form SAPHIR, a European leader in digital transformation for the industry

Waterland

Paris, 21 October 2024 – Sofyne Active Technology and AG Solution group, both specialists in digital transformation for the industrial sector, have teamed up with their leadership teams in a strategic operation backed by the pan-European investment fund Waterland Private Equity. This partnership aims to create a leading European IT services company that will support industrial clients in addressing the challenges of their Industry 4.0 journey.

Founded in Lyon in 2005 by Stéphane Lusoli, Sofyne Active Technology today boasts a recognized know-how in MES/MOM/PLM software integration. This expertise enables it to support major international industrial  groups in the luxury goods, automotive and energy sectors in their digital transformation towards Industry 4.0. With a presence in 6 European countries (France, Switzerland, UK, Portugal, Sweden, Poland), Sofyne Active Technology is currently the number 1 workforce for Dassault Systèmes’ DELMIA APRISO software in Europe. Sofyne Active Technology has been experiencing significant growth and expansion for several years.

AG Solution, founded in 2007, in Antwerp, by Eric Billiard and Guy D’haese, brings its expertise in automation systems, process control, data management, operational intelligence, MES/MOM solutions, Artificial  Intelligence, ICT infrastructure, and OT security to industries such as pharmaceuticals, chemicals, waste-to-energy and food & beverage. The company has 13 offices, including 11 in Europe (Belgium, Spain, France, the Netherlands, Germany, Ukraine, Portugal) and two in the United States (New York, Houston).

Through this major European partnership, the two companies, now united under the SAPHIR entity, share a common ambition: establish a leading Industry 4.0 group by 2030. The newly formed group plans to accelerate its international growth and carry out further external expansion initiatives.

“Six months after Waterland’s involvement, we’re marking a significant milestone in our journey to become a pan-European leader in industrial digital transformation. With a combined team of 400 engineers and consultants, renowned for their excellence, Sofyne Active Technology and AG Solution will be well-equipped to tackle the increasingly complex challenges of Industry 4.0 by offering high-level expertise, consultancy and services to their clients,” said Stéphane Lusoli, CEO of Sofyne Active Technology.

“Following our successful MBO two years ago, this merger with Sofyne Active Technology is a key step in achieving our 2030 vision. It will allow us to provide even more high-value-added services in the MOM space to our industrial clients. We will also complete Sofyne Active Technology’s offering to its clients with automation, operational intelligence, and MES/MOM Cyber security solutions,” said Eric Billiard, CEO of AG Solution.

“We are convinced of the strategic importance of this partnership, and that’s why we’re committed to supporting Sofyne Active Technology, AG Solution, and their leadership teams at every step of this  transformative project. The merger will deliver increased value, expertise, and new service offerings to the clients of both companies, addressing the demands of industrial digital transformation,” commented Louis Huetz, Partner, and Pierre Naftalski, Investment Director, at Waterland.

About Saphir
Saphir comes from the partnership of Sofyne Active Technology and AG Solution. It aims to position itself as a leading group in Industry 4.0 in Europe. With its various locations in Europe (France, Belgium, Spain, Portugal, UK, Poland, Switzerland, Netherlands, Germany, Ukraine) and the United States, and more than 400 engineers and consultants, the Saphir group supports its customers on all Industry 4.0 issues thanks to a wide range of expertise and services.

About Sofyne Active Technology
Founded in 2005 in Lyon and specializing in digital transformation for industry, Sofyne Active Technology operates across Europe (France, Switzerland, UK, Portugal, Sweden, Poland). With its wide range of services, Sofyne Active Technology guides top-tier industrial clients from various sectors (luxury, automotive, energy, etc.) through their digital transformation toward Industry 4.0. The company is particularly renowned for its expertise in industrial data management software integration.

About AG Solution
Founded in 2007, AG Solution specializes in digital transformation for industry in both Europe and the United States (Belgium, Spain, France, the Netherlands, Germany, Ukraine, and the United States). AG Solution serves a diverse clientele (Food & Beverage, pharma, chemicals, etc.) and is known for its expertise in automation systems, process control, data management, operational intelligence, MES/MOM solutions, ICT infrastructure, Artificial Intelligence and Cyber security. As a strategic partner, AG Solution helps clients define their  operational environments, design innovative roadmaps, and integrate cutting-edge technologies to generate lasting value and measurable results.

Press Contacts:
Olivia Andrez – waterland@the-arcane.com | +33 6 85 52 86 03
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21

Categories: News

Tags:

KKR Acquires Portfolio of Four Industrial Warehouses Serving the Central Florida Market

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired a portfolio of four Class A industrial warehouses serving the greater Central Florida market, including Orlando and Tampa.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241021128092/en/

(Photo: Business Wire)(Photo: Business Wire)

The four industrial properties sit at the intersection of Interstate 4 and U.S. Route 27, two vital transportation arteries in southwest Orlando that facilitate access to key demand drivers across Central Florida. The assets, totaling approximately 1.2 million square-feet (SF), are 100% leased to five high-quality tenants, including investment grade public companies and regional market leaders.

“We are pleased to grow our footprint in Central Florida with the purchase of these strategically located, high-quality warehouse assets,” said Ben Brudney, a Managing Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We believe that prime transit-adjacent distribution locations in southwest Orlando continue to benefit from strong demand drivers and limited new supply.”

KKR is acquiring the portfolio through its KKR Real Estate Partners Americas III fund. The addition of this portfolio brings KKR’s total warehouse acquisitions in the U.S. to nearly eight million SF since the start of the year.

KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Managing $75 billion in assets as of June 30, 2024, KKR’s approximately 150 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors.

About KKR

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

Media
Miles Radcliffe-Trenner or Lauren McCranie
media@kkr.com

Source: KKR & Co. Inc.

 

Download PDF

Categories: News

Tags: