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Ardian North America Direct Buyouts team announces agreement for the acquisition of Revere Plastics Systems

Ardian

Ardian’s investment will boost the growth strategy of leading us plastic injection molding manufacturer

New York, November 20, 2017 – Ardian, the independent private investment company, today announces that its North America Direct Buyouts team has reached an agreement to acquire Revere Plastics Systems, a designer and manufacturer of plastic injection molded parts, from its parent, Revere Industries, LLC. Ardian will acquire a 100 percent interest in the company.

Founded in 2005 and headquartered in Clyde Ohio, Revere Plastics Systems partners with clients in the appliance, automotive, outdoor power equipment, medical and consumer goods industries. Its manufacturing capabilities include value-add plastic injection molding, insert and multi-shot molding, IML/IMD decorating, laser etching, assembly, numerous types of welding, inspection and leak testing.

Beyond its headquarters in Ohio, the company has three additional manufacturing facilities in Indiana, Missouri and Ontario. With approximately 1,100 employees, the company  is at the forefront of developing highly-tailored and advanced technologies to support customers manufacturing needs.

“Revere Plastics Systems is a market-leading plastic injection molding manufacturer well positioned for growth. Revere’s highly-capable leadership, blue-chip customer base, and its value-add capabilities gave us great confidence in the company’s potential and we foresee expansion opportunities for the company ahead,” said Vincent Fandozzi, Head of Ardian North America Direct Buyouts.

Kevin Kruse, Managing Director, North America Direct Buyouts, added “Furthermore, our investment in Revere will be supported by Ardian’s considerable experience and relationships in the industrial manufacturing sector alongside Ardian’s global network.”

“We are delighted to have Ardian as a partner on our side as we embark on the next stage of our growth. Ardian’s support will allow us to invest in additional capacity and new technologies enhancing our capabilities to serve our customer base.” said Glen Fish, President of Revere Plastics Systems. “There are great opportunities ahead and we are looking forward to taking advantage of them with the full support of Ardian,” continued Mr. Fish.

“We look forward to working with Glen and the incredible people who make up the Revere employee base on this next chapter in the company’s development,” added Mr. Fandozzi.

Ardian launched its North America Direct Buyouts activity in October 2016 when it brought on board the team from Seven Mile Capital Partners, led by Mr. Fandozzi. The North American direct investment activity focuses on lower middle market buyouts, specifically middle market industrial and related business services companies in North America. This is the second transaction completed by the team after the acquisition, in June 2017, of Dynamic Technologies, the designer and manufacturer of automotive fluid-handling systems.

Financial details for the transaction were not disclosed. The transaction is expected to close by year end.

 

ABOUT REVERE PLASTICS SYSTEMS

Revere Plastics Systems, LLC designs, develops, manufactures, and supplies plastic injection molded assemblies and components for the appliance, automotive, outdoor power equipment, medical, garden and consumer goods industries. It offers assemblies which include doors, balance rings, bases, pumps, dispensers, rollers, and dish racks for the appliance industry; lighting, interior, HVAC and braking for the automotive industry. The company also provides numerous engineered services; injection, stack, tandem, and insert molding services; and multi shot molding, mold to mold transfer, gas assist, in-mold decorating, vertical molding, testing, assembly, and decorating services. The company was incorporated in 2005 and is based in Clyde, Ohio. It has locations in Clyde, Ohio; Jeffersonville, Indiana; Poplar Bluff, Missouri; and Brampton, Canada.

 www.revereplasticssystems.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America 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 470 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

 www.ardian.com

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AURELIUS subsidiary Office Depot Europe is investing 20 million euros in E-commerce expansion

Aurelius

Munich/Venlo, November 2017 – Expansion of its E-commerce offerings is a core strategic direction for the realignment of Office Depot Europe, a group company of AURELIUS Equity Opportunities (ISIN DE000A0JK2A8). To this end, the company is investing 20 million euros in updating and expanding its internet presence based on the SAP Hybris E-commerce module until the end of 2018. The investment centers on improved customer flow on the websites, new functionalities, responsive design for automatic adaptation to different devices, and scalability across the individual Office Depot companies. In addition to web technology, the company is also investing in expanding its linkages to retail partners and extending the functions of its order management and tracking. Customer satisfaction and conversions are moving in a promising direction, and should be improved further on.

E-commerce and self-service are more and more important for B2B customers, as is the online marketplace. With this major investment, Office Depot is addressing this development. In addition to the company’s proven product and service offerings, Office Depot is opening up new revenue potential with simple, fast, intuitive and service-oriented processing on its new websites. Through this move, Office Depot is bringing its internet activities into the center of its customer communication. The strategy is flanked by investments in further points of contact to customers (voice, print and key accounts).

The introduction of the new technology in the first test markets Germany, Austria, Ireland and the Netherlands has already shown positive results, as revenues from online sales and customer satisfaction have risen significantly. The rollout in other national companies and the ongoing further development of the technology will reinforce this positive trend in 2018 and have a major impact on the overall growth of Office Depot Europe.

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Leo’s Lekland acquires Andy’s Lekland

Litorina

The play centre chain Leo’s Lekland continues its rapid expansion. Through the acquisition of Andy’s Lekland, the second largest chain in Sweden after Leo’s Lekland, the expansion rate is further increased and the deal will strengthen Leo’s Leklands position primarily in the Stockholm region. The transaction comprises five play centres with a combined turnover of c. SEK 45 million.

The transaction means that Leo’s Lekland takes over a total of five Andy’s Lekland play centres in Stockholm (3), Gävle (1) and Örebro (1). The three play centres in Stockholm will be rebuilt and reopened under the Leo’s Lekland brand. The play centres in Örebro and Gävle will continue to operate under the Andy’s Lekland brand but under the management of Leo’s Lekland.

“Finding attractive locations in the Stockholm region is challenging and we believe the deal constitutes an opportunity to expand and consolidate our leading position, primarily in the capital of Sweden. We will now rebuild and adapt the play centers in Barkarby, Bromma and Länna to fit into Leo’s concept” says Joakim Gunler, CEO of Leo’s Lekland

For further information, please contact:
Joakim Gunler, +46 (0)70 553 30 21, CEO of Leo’s Lekland

Leo’s Lekland is the largest play centre chain in the Nordic region with a total of 41 play centres (24 in Sweden, 9 in Norway, 5 in Denmark and 3 in Finland). When the company was started in 2006, the founders wanted to create a meeting place for families with focus on play and movement. This is more relevant than ever since reports from WHO show that children spend too little time on physical activity. The company’s success is based on a strong concept of play, fun and movement for the whole family with security, cleanliness and service in the first place. For more information, see www.leoslekland.se.

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Roche Acquires Lab Data Analytics Platform Viewics

Canvas Ventures

Roche Acquires Lab Data Analytics Platform Viewics

Roche, a pharmaceuticals and diagnostics focused on advancing science has announced an agreement to acquire Viewics, Inc., a laboratory business analytics platform. Under the terms of the agreement, Roche is acquiring all shares of the company. Financial details of the acquisition were not disclosed.

As part of the acquisition, Viewics, Inc. will become an integral part of Roche and add further digital capabilities on top of Roche Diagnostics’ Integrated Core Lab offering to make faster data-driven informed decisions on their operations and processes.  The cloud-based solution is secure, infrastructure-agnostic, interactive, and accessible from multiple devices (e.g. smart phones, tablets, desktop computers).

Founded in 2010 in Sunnyvale, CA, the Viewics solution allows for efficient integration of big data from a variety of IT systems in the laboratory and beyond, pioneering a new way in extracting, cleansing, transforming and augmenting data. The HIPAA-compliant solution puts the transformational power of analytics into the hands of healthcare professionals in laboratory, financial, executive, and IT roles.

The solution enables organizations to leverage insights out-of-the-box, combined with the flexibility of further customising the solution to meet the needs of their unique situations, truly interact with their data and make decisions based on accurate information to deliver significant impact.

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AURELIUS subsidiary GHOTEL continues to expand

Aurelius

  • Three new hotel openings signed in Bochum and Düsseldorf
  • GHOTEL group positioned as an approved franchisee
  • Additional hotel projects in planning

Munich – November 17, 2017 – The hotel operator GHOTEL hotel & living (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), continues to pursue its successful expansion strategy. After entering into or extending an average of one new lease agreement per year over the past few years, the Bonn-based company has now accelerated the pace of its growth. The signing for the last of three new locations took place last week. Going forward GHOTEL hotel & living will also be represented with a new hotel with 162 rooms in Bochum and two new hotels totaling 390 rooms in Düsseldorf.

The GHOTEL hotel & living group will operate the two new hotels at the Düsseldorf airport for the first time as a tenant and franchisee of leading Europe-wide hotel group Accor. A Novotel with 210 rooms and an ibis hotel with 180 rooms are slated to open there in 2020. With this move, GHOTEL has positioned itself for the first time as an approved franchisee in the hotel industry. Volkmar Paff, COO of AccorHotels Central Europe, says: “As a modern office and service district with a campus atmosphere, the Quartier (n) in Düsseldorf is an extremely attractive location. We will be represented there with our brands ibis and Novotel starting in 2020. We are very pleased with the collaboration with our new franchise partner GHOTEL hotel & living – an experienced and respected hotel operator.”

GHOTEL has been a wholly owned subsidiary of AURELIUS since 2006. Since 2010, the GHOTEL hotel & living Group has opened three new attractive locations in Koblenz, Würzburg, and Essen under the umbrella of AURELIUS.

The group is currently in advanced discussions concerning other hotel projects to be operated under the GHOTEL hotel & living brand and also as franchises.

 

About GHOTEL hotel & living

GHOTEL hotel & living is a rapidly expanding hotel and apartment building chain with mostly 3-star properties in various German cities. The business hotels with modern conference rooms are marketed under the GHOTEL hotel & living brand. They can be found in Kiel, Hannover, Koblenz, Munich, Würzburg, and in Essen. GHOTEL hotel & living also operates apartment buildings in Bonn and Munich with a focus on serviced apartments under the GHOTEL living brand. The head office of GHOTEL GmbH is in Bonn. The Company has belonged to the AURELIUS Group since December 2006. The managing directors of GHOTEL GmbH are Wolfgang Zurner and Jens Lehmann.

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Industrifonden exits Soundtrap – acquired by Spotify

IndustrieFonden

We are excited to announce that our portfolio company Soundtrap is acquired by leading music streaming service Spotify. As the only institutional investor and the largest shareholder in Soundtrap, after the group of founders, we are proud to have (once again) helped an incredible team to continue to accelerate its so far successful journey.

We led Soundtrap’s $6m Series A round in 2016. The investment has helped Soundtrap accelerate growth, expand the team and execute on their mission to democratize and empower high-quality music making for everyone. But our relationship with Per, Björn, Fredrik and the Soundtrap team goes back a couple years before the initial investment.

– When we first met the Soundtrap team in 2014, we knew they were one of a kind. We saw a huge potential in Soundtrap early, they have most of what we look for in a team when it comes to skills, product and ability to execute on a bold vision. Today’s news proves that we were right, says Johan Englund, Industrifonden investment lead and board member of Soundtrap.

– We’re thrilled for Spotify and Soundtrap to join forces, this is a perfect match, adds Johan.

The exit marks an excellent proof of our ongoing mission to back bold entrepreneurs and founders in the Nordics who make a real difference. Following exits earlier this year, from automotive software company Movimento and IoT pioneer Fältcom, this marks another successful exit in 2017 for us.

We invested in Soundtrap in 2016, and is the only VC investor to date that has backed the company. The investment has helped Soundtrap accelerate growth, expanding the team and execute their mission to democratize and empower high-qualitative music making for everyone.

– It has been invaluable to have had Industrifonden with us on this journey. We are all enormously excited about the huge opportunity that comes with this deal, and we also look forward to continue the relationship with Johan and the rest of the Industrifonden team, says Per Emanuelsson, CEO and co-founder, Soundtrap.

Soundtrap launched its beta in 2013, with official launch in 2015 as a web-based, cross-platform, collaborative music recording studio. Since launch, the company has experienced strong growth both in the consumer space, and an education version that has been widely adopted by schools

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EQT Infrastructure acquires Dutch telecom and infrastructure company CAIW

eqt

  • EQT Infrastructure to acquire CAIW, owner and operator of telecom infrastructure connecting more than 350,000 households in the Netherlands
  • EQT Infrastructure is committed to actively support CAIW in further strengthening its market position and investing in growth opportunities
  • CAIW to be included in the same holding as DELTA headed by Marco Visser as CEO

The EQT Infrastructure III fund (“EQT Infrastructure”) has signed a definitive agreement to acquire CIF Holding B.V. (”CAIW” or “the Company”) from Rabo Bouwfonds Communication Infrastructure Fund C.V..

CAIW is a leading regional telecom infrastructure company in the Netherlands owning and operating a state-of-the-art fiber and coax network, connecting more than 350,000 households. CAIW employs approximately 210 people and generated sales of EUR 112 million in 2016.

EQT Infrastructure will invest in the continued development of CAIW’s growth strategy while strengthening its market position and exploring opportunities to expand its existing fiber network.

“EQT Infrastructure looks forward to supporting CAIW’s growth journey in the Dutch telecom and infrastructure market. Following last year’s investment in the telecom infrastructure company DELTA, the acquisition of CAIW fortifies EQT Infrastructure’s commitment to the Dutch fiber segment”, says Matthias Fackler, Partner at EQT Partners and Investment Advisor to EQT Infrastructure.

Joost Goderie, Senior Managing Partner at Rabo Bouwfonds Communication Infrastructure Fund:

‘With support of institutional investors, we have developed large-scale fiber networks in different areas of the Netherlands. We are especially proud that CAIW successfully rolled out optical fiber to municipalities and households in rural areas. Welcoming EQT Infrastructure as the new investor will guarantee continuity of CAIW’s services and shape the ambitions for the future.”

EQT Infrastructure intends to include CAIW in the same holding as DELTA and the new group management structure will oversee all activities related to both CAIW and DELTA. It will be headed by Marco Visser, current CEO of DELTA.

The transaction is subject to customary conditions, such as completion of a works council consultation procedure and approval of the Autoriteit Consument & Markt (ACM). The parties have agreed not to disclose financial details related to the transaction. The transaction is expected to close in Q4, 2017.

Morgan Stanley acted as sole financial advisor and Clifford Chance as legal advisor to EQT Infrastructure.

Contacts:
Matthias Fackler, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +49 89 2554 99 505
EQT Press Office, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 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 CAIW
CAIW is a telecom infrastructure company in the Netherlands that owns and operates broadband connections to more than 350.000 households and businesses. In recent years, CAIW rolled out fiber networks to municipalities and homes in remote areas. CAIW is also a strong regional internet service provider offering broadband, TV and telephony services. Westland, Schiedam and Almelo are amongst the largest regions in CAIW’s footprint.

More info: www.caiway.nl

 

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IK expands its small cap strategy to the Benelux region – Hires Sander van Vreumingen as Benelux Small Cap partner

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, today announces that Sander van Vreumingen has joined as a Partner responsible for IK’s Benelux Small Cap team. 

IK has been present in the Benelux region since 1995 and has invested over €1bn into thirteen successful investments during this time. Within the mid cap space, IK has been one of the most active regional players with notable transactions including Vemedia, the market leader of OTC drugs, Magotteaux, the leading manufacturer of cast wear parts for the cement and mining industries and fund administrator Vistra, amongst many others. As IK now extends its small cap strategy, Sander van Vreumingen has been appointed partner and responsible for the Benelux Small Cap team.

Sander joins from Gimv, where he worked for over a decade, and prior to that at the Dutch investment firm Halder. He has substantial experience in the small cap segment, and has been involved in numerous transactions, including Mackevision, ALT, Arplas, Walkro, BMC, Oldelft, ARS Traffic & Transport Technology, Hebu and Geveke. Sander holds an MSc in Economics from Erasmus University Rotterdam.

IK’s Amsterdam office, which was established earlier this year, is led by Remko Hilhorst, Partner responsible for IK’s Mid Cap Benelux team. Remko Hilhorst has been with IK since 2001. Together, IK’s Small and Mid Cap teams will focus on investments with enterprise values of up to €500m, partnering with entrepreneurs who are looking for support to help them achieve the next stage of their company’s growth and development.

“Having both a mid cap and small cap practice operating on the ground will allow the firm to capitalise on the synergies which are present in the market and give the teams a superb investing platform from which to execute transactions,” said Remko Hilhorst, Partner at IK Investment Partners.

“Benelux is an important market for IK, offering many interesting investment opportunities in various sizes and sectors. Sander, with his wealth of experience and wide network of contacts in the region, is a great addition to our team to reinforce our strong position in Benelux. We are delighted to welcome him to the firm,” said Christopher Masek, Partner and CEO at IK Investment Partners.

“I am very pleased to join one of the most reputable private equity firms in the Benelux region. I look forward to working closely with Remko and the mid cap team whilst establishing a dedicated small cap team, in order to further enhance the firm’s existing success,” said Sander van Vreumingen, Partner at IK Investment Partners.

For further questions, please contact: 

IK Investment Partners
Remko Hilhorst, Partner
Phone: +44 207 304 4300

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

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 billion of capital and invested in over 110 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

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Investment update: Zego raises £6M Series A to provide gig economy worker insurance

Balderton

We’re very excited to see Clerkenwell, London-based pay-as-you go insurance provider Zego announcing their £6m in series A funding today, led by Balderton and joined by original investor Local Globe and angel investors in the insurance sector. Rob Moffat will be taking a seat on the Zego board.

Zego is preparing to launch new products specially designed for flexible workers employed in the sharing economy.

Zego co-founders Harry, Sten and Stuart

Zego was founded by former Deliveroo managers last year, and the team has grown from seven to 33 employees since the start of 2017. They’re planning to use the funding to hire more specialists for their engineering team, as well as staff to build key business functions.

Read coverage of the announcement on Techcrunch here.

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Bridgepoint to acquire master franchise of BURGER KING® in UK

Bridgepoint

Bridgepoint today confirmed it has reached an agreement with Burger King Europe GmbH (“BKE”), an affiliate of Restaurant Brands International Inc. (“RBI”), to become the UK master franchisee of BURGER KING®, with exclusive rights to the brand in the UK. It will simultaneously acquire Caspian UK Group, one of the UK’s largest BURGER KING® franchisees with 74 restaurants. Terms of the transaction were not disclosed.

The transaction with BKE will see the establishment of a new BURGER KING® UK entity which will be controlled by Bridgepoint with BKE retaining a minority stake. The new entity will enter into a 20 year master franchise agreement giving it the right to be the custodian of the BURGER KING® brand in the UK, control over the brand’s proposition in the UK and the right to roll-out new stores across the country.

The transaction will also see Bridgepoint support a highly experienced management buy-in team, headed by chairman-designate Martin Robinson whose experience includes Casual Dining Group, where he is also chairman. Martin was former chairman of Center Parcs and Wagamama. The new team will lead the company’s management of the UK territory as well as the roll-out of further stores across the country.

“We are thrilled to announce this agreement to increase the pace of growth for the BURGER KING® brand in the UK, one of the world’s largest quick service restaurant markets,” said José Cil, President of the BURGER KING® brand. “The Bridgepoint team has extensive experience in the UK market and a strong track record investing in and developing leading brands in the quick service restaurant industry, which positions them well for success.”

Bridgepoint said: “BURGER KING® is a pre-eminent global consumer brand with a robust and growing presence in the UK market, well-liked by consumers. This is an opportunity to work with a highly regarded management buy-in team to re-invigorate a much-loved brand and to grow the existing UK business.”

Martin Robinson, chairman designate of the new BURGER KING® UK entity, said: “BURGER KING® is an iconic global brand with a long-standing heritage in the quick service restaurant market. Working with Bridgepoint and BKE, the team believes it can deliver growth and further opportunities for the brand to flourish in the UK market.”

Founded in 1954, the BURGER KING® brand is the second largest fast food hamburger chain in the world. In the UK there are currently over 500 restaurants.

Advisers were:

– For Bridgepoint: Travers Smith (Legal, ESG), Harris Williams & Co (Corp Fin), Parthenon EY (Commercial), Deloitte (Financial, Tax, Pensions), Marsh (Insurance), Freeths (Property)- for Caspian UK Group: KPMG (Corporate Finance, Legal, Transaction Services, Tax, Pensions)

– For management buy-in team: Macfarlanes (legal)

Press enquiries

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

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