Category Archives: News

DN Capital raises new €200m fund

DN Capital

London, 25th January 2018

DN Capital today announces that it has closed its latest fund of €200 million (£177 million). The VC firm’s fourth fund, which was substantially oversubscribed, will primarily back Seed and Series A-stage companies in its sweet-spot of marketplaces, SaaS, fintech, digital health and consumer mobile apps.

The announcement follows a highly successful few weeks for DN Capital, which saw portfolio companies Shazam acquired by Apple and Auto1 receive a €460 million investment from SoftBank’s Vision Fund.

To date, roughly two-thirds of DN Capital’s investments have been made in Europe, through its London and Berlin bases, with the remainder coming from the firm’s Silicon Valley office in Menlo Park. With Fund IV, the team’s European focus will be on companies in Germany, the UK, the Nordics and France, while its US investments will primarily be on the West Coast and the Boston-New York corridor.

Founded in 2000, DN Capital has consistently ranked as one of the most successful VC funds in Europe, with the performance of most of its funds also comparing favourably with the leading Silicon Valley firms. To date the firm has made 65 investments (excluding seed deals) in nine countries, which have resulted in 15 profitable exits (3 IPOs and 12 trade sales), over 50 per cent of which had enterprise values of between $150 million and $1.2 billion. These include Endeca (Oracle), Purplebricks (AIM: PURP) and Quandoo (Recruit).

“Our guiding principle from day one has been for DN’s two founders to remain actively involved in every investment decision made by the firm,” says Nenad Marovac, founder and CEO at DN Capital and Vice-Chairman of InvestEurope. “We were founded immediately after the tech bubble burst and raised our second fund as the global financial system went into meltdown, so we know what it’s like to be entrepreneurs in the face of adversity.

 

“We bring that experience to bear in the hands-on way we support the founders in our portfolio by providing ongoing advice, connections, introductions, partnerships and mentorships – capital is only the start.”

Co-founder and Managing Partner Steve Schlenker adds: “With Fund IV we will be looking to back ambitious entrepreneurs with the background, intellect, grit and determination to take a startup and build it into a globally impactful business. Our first fund, despite being only €47 million of capital, was the only European investor in Endeca, one of the most important e-commerce infrastructure software companies of the last 20 years, and the lead investor in Shazam, which is on more than a billion phones worldwide.

“Since then, we have led investments in what is now one of the largest online classified businesses in the world (OLX), the UK’s first online estate agent to go public (Purplebricks), the largest car marketplace in Europe (Auto1) and many other technology leaders such as Hometogo, Quandoo, and Parallel Wireless. The opportunity in Europe is extraordinary right now and our global strategy positions us well to help companies born here become world beaters.”

 

About DN Capital

 

DN Capital is an early stage and growth capital investor focused on Seed, Series A and select Series B investments in marketplaces, fintech, SaaS, digital media, e-commerce, mobile applications and digital health companies. The firm was founded in 2000 and has operations in London, Berlin and Silicon Valley. DN Capital’s previous funds are top performers and the firm is one of the lead investors in companies such as Endeca (Oracle), Shazam (Apple), Auto1 (Europe’s largest used car marketplace), Purplebricks (AIM:PURP) and Quandoo (Recruit). The DN Capital team bring over 75 years of private equity experience to their investments, and actively work with portfolio companies to steward their growth through the various stages of development. Find out more at www.dncapital.com.

 

For further information

Kanira Shah

Investor Relations

DN Capital

Kanira@dncapital.com

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Mime Petroleum and Blue Water Energy Join Forces with Blackstone Energy Partners

Blackstone

January 25, 2018 – Mime Petroleum AS (together with its subsidiaries referred to as “Mime Petroleum” or “the Company”), a new independent development and production company established earlier this year by Blue Water Energy LLP (“BWE” or “Blue Water Energy”) and Sverre Skogen (Chairman and CEO), announced today that they have partnered with Blackstone Energy Partners (“Blackstone”). BWE and Blackstone have agreed to lead an initial investment of up to $1 billion in Mime Petroleum.

Mime Petroleum is primarily focused on driving value creation in existing fields and licences on the Norwegian Continental Shelf (“NCS”). The Company will acquire assets available on the NCS and pursue production optimization, developments and near-field exploration opportunities. The Mime Petroleum management team has a long track record of M&A, technical, commercial and financial success on the NCS. Mr. Sverre Skogen was Executive / Non-Executive Chairman of Det norske oljeselskap (now Aker BP). The core management team is comprised of five executives who previously worked together building DEA Norge’s upstream business, along with Harald Grøsfjeld who joined as CFO with over 29 years’ experience in the oil industry. Mustafa M. Siddiqui, Senior Managing Director at Blackstone, and Kjell-Erik Østdahl, Senior Advisor at Blackstone and former Executive Vice President for Operations at Schlumberger, will join the board of Mime Petroleum.

Sverre Skogen, Chairman and CEO of Mime Petroleum, commented on the announcement: “Whilst Blue Water Energy has provided strong strategic and financial support to date, this is now significantly enhanced in combination with Blackstone. Mustafa Siddiqui and his team are a welcome addition and I am looking forward to working with both parties on delivering the vision we have for Mime Petroleum. There are a lot of high-quality opportunities on the NCS, and, with two of the foremost energy investors behind us, we are well positioned to take advantage of these.”

Mustafa M. Siddiqui, Senior Managing Director at Blackstone, added: “We are delighted to be backing Sverre Skogen and the Mime Petroleum team. With $15 billion of capital invested in the energy sector, we continue our track record of supporting top management teams with the growth capital and resources to build energy industry champions. We and BWE have enjoyed a successful partnership in the UK and we look forward to replicating that success in Norway.”

Graeme Sword, Partner of Blue Water Energy, said: “We are happy to partner with Blackstone again on building another leading E&P business. We want to provide our portfolio companies with the optimal shareholder base and we believe Blackstone is an aligned partner that shares our ambitions for Mime.”


About Mime Petroleum
Mime Petroleum is a newly formed development and production company on the Norwegian Continental Shelf. Mime Petroleum has a team of highly experienced oil and gas industry staff with deep experience across most fields on the Norwegian Continental Shelf. Using these resources, Mime Petroleum is developing a material and sustainable development and production business on the NCS by the following means:

  • Investing in commercially attractive development projects and fields in production;
  • Increasing the recovery of fields supporting infill drilling programs and IOR initiatives;
  • Prolong lifetime and EUR of fields through maturation of near-field prospects; and
  • Building capacity and ensuring financial flexibility for further growth on NCS.

Mime Petroleum’s vision is to build a leading E&P business that is recognized for its ability to use knowledge to create value. The execution of our strategy will be underpinned by our four core values: Teamwork, Knowledge, Integrity and Ownership. The Company is led by Executive Chairman Sverre Skogen and has its headquarters in Oslo, Norway.

About Blue Water Energy
Founded in 2011, Blue Water Energy is a leading global middle market energy specialist private equity firm based in London. The firm primarily targets investments in the Exploration & Production, Upstream Equipment & Services and Mid/Downstream Equipment & Services sectors. Blue Water Energy partners with best-in-class management teams and utilises a network of seasoned investment and operating professionals to drive value creation across its portfolio companies. Since raisings its initial two funds (BWE Fund I and BWE Fund II), Blue Water Energy has $3.0bn under management across a global portfolio of 14 companies. For more information about Blue Water Energy, please visit www.bluewaterenergy.com

About Blackstone Energy Partners
Blackstone Energy Partners is Blackstone’s energy-focused private equity business, with a successful record built on our industry expertise and partnerships with exceptional management teams. Blackstone has invested more than $15 billion of equity globally across a broad range of sectors within the energy industry.

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 over $385 billion in assets under management, include investment vehicles focused on 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.

Media Contacts:

Blackstone
Andrew Dowler/Rebecca Flower
+44 (0) 207 451 4005
+44 (0) 7918 360 372
Rebecca.Flower@Blackstone.com

Blue Water Energy
Frazer Blyth
+44 (0) 207 2905090
+44 (0) 7793 041618
fblyth@bwenergy.com

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FCG, Nordic risk and compliance services provider, to partner with Bridgepoint Development Capital

Bridgepoint

FCG Holding Sverige AB (‘FCG’ or the ‘Company’), a high growth, market-leading provider of specialist risk and compliance services to the financial sector, will partner with Bridgepoint Development Capital (‘BDC’) where BDC will acquire a significant shareholding in FCG and provide the resources to allow it to realise its expansion plans. The value of the transaction is not disclosed.

Established in Stockholm in 2008, FCG is the leading Nordic specialist service provider of Governance, Risk and Compliance (GRC) services, primarily focused on the financial sector. The Company offers expertise in the form of consultancy services, outsourcing and fund administration from operations in Stockholm, Malmö, Copenhagen and Oslo.

“We are pleased to welcome Bridgepoint Development Capital as a new owner and partner to FCG. They will add additional business competence, experience from scaling medium-sized businesses, a pan-European network and financial strength, which will allow FCG to continue its growth strategy in the Nordic region and beyond” says Kristian Bentzer, Managing Partner of FCG.

Johan Dahlfors, the partner responsible for Bridgepoint Development Capital’s investment activities in the Nordic region commented “We are very impressed with the progress that FCG has achieved to-date. FCG has built a leading position in the Nordic region, based on high-quality services, passionate and competent employees and a broad service portfolio catering to the needs of the entire financial industry in an increasingly complex regulatory landscape. FCG has ambitious plans and we look forward to partnering with current owners and the Company to develop the business further.”

Given the depth and breadth of competencies required to ensure internal control and compliance with financial regulations, many financial institutions are increasingly seeking external support from specialist service providers. This has resulted in the European market for GRC services experiencing double digit growth over recent years, which is expected to continue, driven by an increasingly complex regulatory landscape.

On the back of strong market demand, and with the successful launch of new service concepts and long-term embedded customer relationships, FCG has grown rapidly over the past years to become the largest dedicated GRC team across the Nordic region. Its high level of competence and expertise of regulatory frameworks, combined with a partnership philosophy towards customers and a highly motivated management team, has allowed FCG to grow the customer base across all sizes and segments of the financial industry.

Under the new ownership, FCG will continue to build on its position as the leading specialist service provider of GRC services to the financial sector, in current as well as in new geographies.

The transaction is subject to approval by the Swedish Financial Supervisory Authority.

Advisors involved in the transaction included:

– For FCG: Keystone MCF Corporate Finance (financial), Andulf (legal)

– For BDC: Vinge (legal), KPMG (financial, tax, pensions), Arkwright (commercial), Marsh (insurance)

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Partners Group to exit Trimco, a global provider of labels and brand identification solutions to the apparel sect

Partners Group

Partners Group, the global private markets investment manager, has agreed the sale of Trimco International Holdings Limited (“Trimco” or “the Company”), a Hong Kong-headquartered apparel-labeling producer, on behalf of its clients. The Company will be acquired by funds advised by Affinity Equity Partners for a total consideration of USD 520 million, generating a 3.4x return for Partners Group on its original investment.

Founded in Hong Kong in 1978, Trimco provides a full range of garment labels, tags and trimming products to blue chip apparel brands and retailers worldwide. Partners Group acquired Trimco on behalf of its clients in May 2012 and has subsequently worked alongside the senior management team, led by Miranda Kong, the Group CEO and Founder, to oversee a period of expansion in which the Company quadrupled its business and grew from an Asia-centric manufacturing specialist into a global leader in its field. Trimco currently serves more than 500 clients worldwide and has grown from 400 employees in 2012 to more than 1,450 employees today.

Amy Wan, COO of Trimco, comments: “Over the last five years, we have worked hand-in-hand with the Partners Group team during a period of continuous growth and development for our business. Partners Group’s global footprint and expansive network have enabled us to fast-forward our international expansion strategy through targeted add-on acquisitions as well as organic growth. As we change ownership, we are proud to reflect on this tremendous growth trajectory.”

Florian Marquis, Senior Vice President, Private Equity Asia, Partners Group, explains: “Our value creation plan was designed to support Trimco’s international expansion. For example, we focused on building out dedicated client relationship teams in key markets including the UK and major Continental European consumer markets, as well as North America. Additionally, Partners Group supported Trimco in expanding its manufacturing footprint in key apparel hubs across Eastern Europe, Turkey, China, and South and Southeast Asia.”

Notable add-on acquisitions during the five-year holding period included the 2015 purchase of Denmark-headquartered A-Tex, also a global provider of brand identity products including labels, hang-tags, packaging solutions and in-store decorations for leading European and US fashion brands.

Cyrus Driver, Managing Director, Head Private Equity Asia, adds: “When we invested into Trimco in 2012, we could see that it had the potential to become a global leader within its sector. Five years later, and following an exceptional partnership with its senior management team and a structured approach to international expansion, the Company has clearly achieved this goal. We wish the Trimco team continued success in the future.”

Goldman Sachs (Asia) LLC. acted as sole financial advisor and Clifford Chance as legal advisor.

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VALEDO invests in PINCHO NATION

Valedo

Valedo Partners III AB (“Valedo”) has invested in the restaurant chain Pincho Nation AB (”Pinchos”) alongside its founders, key employees and board of directors. With Valedo as a new majority owner, Pinchos will benefit from increased resources in the form of competence and capital to realize and accelerate the Company’s long-term growth and development plan.

Pinchos is a unique app-based restaurant concept, offering a broad menu of appetizers drawing inspiration from all over the world, including dishes such as Spanish quesadillas, Asian dumplings, Hungarian stake, French crème brûlée, and beverages such as mojitos, sangria, beer, and playful drinks in all the colors of the rainbow. The Company, founded in 2012 by Magnus Larsson, Jessica Ekelöf Larsson, Fredrik Mattsson and Johannes Räfsby, has grown significantly during the last years with approximately 45 units established in Sweden and Norway as of today. In 2017 alone, 17 new units were added to the chain and the Company plans to open more than 20 new units during 2018.

“Pinchos has during the last few years had a fantastic growth and development, and it is obvious that consumers really appreciate our unique concept and atmosphere. As a founder and leader of the business, I am very enthusiastic about accelerating the development further with the support of Valedo as a partner, alongside our motivated and competent employees. Valedo will contribute with important competence and financial resources to enable our next step in the strategic journey of Pinchos.” says Magnus Larsson, CEO of Pinchos.

The terms and conditions of the transaction are not disclosed.

For further information regarding Pinchos, please contact:

Magnus Larsson, CEO
magnus.larsson@pinchos.se

About Valedo:
Valedo is an independent Swedish investment group that invests in high-quality small and mid-cap companies in the Nordic region. Valedo focuses on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributor of both capital and industrial experience, Valedo helps to ensure that its companies can achieve their full potential. Valedo has completed 24 platform investments and more than 100 add-on acquisitions. Valedo’s businesses have a combined revenue of SEK ~4 500 million with ~3 300 employees in more than 20 countries. Valedo’s exited businesses have on average grown by ~250% during Valedo’s ownership.

www.valedopartners.com

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LPCA Fund I has divested its shares in the Dutch retail chain Kijkshop

listérus & partners Capital Advisors acquired the Dutch retail chain Kijkshop B.V. during the first quarter of 2015. During 2016, the asset was internally transferred to LPCA Fund I.

Kijkshop is operating in a rapidly changing market and is undergoing a turnaround and digital transformation process. The work with the change has required significant efforts from the owner’s side – both on an operational level and financially – and will still require a dedicated engagement during the foreseeable future.

In order to enable for new investments in the fund and release management capacity for the development of the future portfolio, 100% of the shares held in Kijkshop and its sister companies Kijk IP BV, Kijk UP BV and TONE BV were divested to the Swedish investment company SparkistanStClemens AB during September 2017.

The Board of the fund made the assessment that SparkistanStClemens has all the required resources at its disposal to successfully manage and further develop the investment in Kijkshop.

In conjunction with the divestiture, Björn Serving resigned from his engagement for listérus & partners Capital Advisors and as an investment manager at LPCA Fund I. He is now engaged by SparkistanStClemens in their subsidiaries.

For any enquiries, please contact Christian Listérus, christian@listerus-capital.com, Tel: +46-8-5090 6660.

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H.I.G. Capital Acquires Majority Stake in Beinbauer Group

HIG Capital

HAMBURG – January 16, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than €20 billion of equity capital under management, announced that one of its affiliates has acquired a majority interest in Beinbauer Group (“Beinbauer”).

Beinbauer, headquartered in Büchlberg near Passau, Germany, is a leading provider of complex machined metal parts (iron, steel, aluminium) for the European on- and off-highway commercial vehicle industry (OEMs and other tier-1 suppliers). Beinbauer’s core competencies are the machining of components and assemblies in state-of-the-art production processes as well as building and managing complex supplier networks, offering its customers all-in-one solutions for axle, frame, chassis and engine parts from a single source. Beinbauer operates four production sites in Germany and has approximately 700 employees. In 2017, Beinbauer generated revenues of more than €200 million. The Beinbauer management team, headed by Tobias Lührig and Patric Meeth, will continue to lead the Group.

Wolfgang Biedermann, Managing Director at H.I.G. Europe commented on the transaction: “Led by a dedicated and highly experienced management team, Beinbauer has shown a strong development in recent years and demonstrated that it plays an important role as a reliable supplier to the European heavy vehicles industry. With its clear focus on offering its customers a highly flexible “one-stop-shop” solution, Beinbauer can further strengthen and expand its position in an attractive market segment of the European automotive industry. H.I.G. will support Beinbauer in increasing its market position in the solidly growing commercial vehicle market, both by organic growth and via strategic acquisitions. H.I.G. is looking forward to the partnership with Mr. Lührig and Mr. Meeth as well as the entire Beinbauer team.”

Tobias Lührig, Managing Director of the Beinbauer Group said: “With H.I.G., we have exactly the right partner on board that can ideally support the Group in implementing its planned expansion course over the next years. We look very much forward to working with H.I.G.”

Patric Meeth, also a Managing Director of the Beinbauer Group, adds: “Through this partnership, Beinbauer will benefit not only from H.I.G.’s financial resources, but also from its substantial experience in the development of new markets and, most importantly, in identifying attractive acquisitions.”

About Beinbauer Group
For more than 40 years, Beinbauer has been a reliable partner for leading OEMs of the commercial vehicle, agricultural, construction machinery, rolling stock and car industries. The Beinbauer Group was established in 2013 by the merger of Beinbauer Automotive GmbH & Co. KG and Wagner Automotive GmbH. The core competencies of both companies include the machining of components and assemblies in state-of-the-art production processes as well as building and managing complex supplier networks. Beinbauer Group offers its customers all-in-one solutions for axle, frame, chassis and engine parts from a single source. For more information, please refer to the Beinbauer Group website at www.beinbauer-group.de.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

H.I.G. European Capital Partners GmbH is a legally independent advisor to H.I.G. Capital LLC, H.I.G. Europe Capital Partners, L.P. and H.I.G. Europe Capital Partners II, L.P.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

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Verdane sells Outnorth to Egmont

Verdane

Verdane Capital VII has agreed to sell its holding in Outnorth, the leading online retailer of outdoor products and apparel in Scandinavia, to the Nordic media group Egmont.

Founded in 2005, Outnorth is an online retailer of outdoor products and apparel, focused on high-quality Scandinavian brands and private label products that represent good design and functionality for an active outdoor lifestyle. Verdane Capital VII (Verdane) made its first investment in the company in 2010.

“We saw the potential for Outnorth in a Scandinavian market fuelled both by a shift in Scandinavian lifestyle trends, and the transition in retail from offline to online, creating demand for high-quality products delivered through an easy-to-use online trading and logistics platform,” says Staffan Mörndal, Partner at Verdane Capital Advisors.

Since Verdane’s investment, Outnorth has grown from its Swedish base to become an online market leader in Scandinavia, and with significant sales in Germany. In 2017, the company had revenues of SEK 430 million, representing a 20x growth compared to 2010.

Today, Verdane announced that it has entered into an agreement to sell its holding in Outnorth to existing shareholder and leading Nordic media group, Egmont.

“We are proud to have been part of Outnorth’s journey together with the company’s excellent employees, management team and other owners. Outnorth is well-positioned for future growth, both in Scandinavia and in other important growth markets, and we look forward to following the company in the years to come,” says Mörndal.

The Nordic sports market is estimated to around EUR 10 billion, with an online market share of around 25%. Outnorth has been instrumental in developing the online category in the Nordics.

“Backed by Verdane and the other owners, we have refined our online offering, logistics and go-to-market models, including the successful development of our portfolio of private label products. This have put us in a sweet spot as the leading online retailer of outdoor gear and apparel in Scandinavia, with a great growth potential in the region and beyond. We are looking forward to our next phase of growth together with Egmont,” says Lars Nykvist, CEO of Outnorth.

 

For further information, please contact:

Staffan Mörndal, staffan.morndal@verdanecapital.com +46 70 93 15 235

Lars Nykvist, CEO Outnorth, lars.nykvist@outnorth.com +46 76 836 29 90

 

About Verdane Capital:

Verdane funds provide flexible growth capital to fast growing software, consumer internet, energy or high-technology industry businesses. The funds are distinctive in that they can invest either in a single company, or in portfolios of companies. Verdane funds have €900m under management and have invested in over 300 holdings over the past 14 years. Verdane Capital Advisors has 29 employees working out of offices in Copenhagen, Helsinki, Oslo and Stockholm. More information can be found at: www.verdanecapital.com

 

About Outnorth

Outnorth is working to inspire more people to explore and enjoy outdoor life. We do it by offering the best products from and for Scandinavia, based on knowledge and experience. We are Scandinavia’s leading online retailer in outdoor products and have clothing, shoes and equipment for outdoor activities and training. For more information, visit: www.outnorth.com

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Kanalservice Holding acquires Jeschke Umwelttechnik GmbH

Ufenau

At the beginning of the new year,we are pleased to announce that Kanalservice Gruppe has successfully acquired Jeschke Umwelttechnik GmbH. Jeschke Umwelttechnik is headquartered in Stutensee close to Karlsruhe, Germany, and has more than 30 highly trained employees in the field of sewer renovation. Jeschke Umwelttechnik has a unique expertise in the installation cured-in-place pipe liners and is a full -service provider in this field.

In recent years, the company has established itself as a leading player in the sewer renovation segment for public-sector customers in southwestern Germany. The cured-in-place pipe lining process is a common method for trenchless rehabilitation of buried, non-pressurized drainage networks, such as the sewer system. In the process, a fiberglass hose (tube liner) impregnated with synthetic resin is drawn into a tube and then cured by UV light. Kanalservice Gruppe, with headquarters in Switzerland, is the owner of Mökah Gruppe that offers sewer cleaning, inspection, renovation as well as suction and surface cleaning services with 170 employees.

“I am very happy that I found the ideal partner in Kanalservice Gruppe to further grow the company organically as well as for acquisitions. I am convinced that the acquisition lays the foundation for a successful, long-term collaboration. I am looking forward to the execution of our growth strategy in the coming years” says Steffen Jeschke, CEO and owner of Jeschke Umwelttechnik.

“We are delighted, that with Mr. Jeschke and his team we found proven experts in the cured-in-place pipe lining segment in southwestern Germany as a strategic addition to Kanalservice Gruppe.

Mr. Jeschke will continue his successful work as CEO of Jeschke Umwelttechnik and we are happy to welcome him as a shareholder of the group ”adds Ralf Flore, Managing Partner at Ufenau Capital Partners.

Sincerely, your Ufenau Team

 

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German – speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.

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Partners Group fully exits VAT Group AG, the Swiss-listed global leader in the production of high-end vacuum valves

Partners Group

Partners Group, the global private markets investment manager, has, on behalf of its clients, sold its remaining stake in VAT Group AG (“VAT” or “the Company”), the leading global developer, manufacturer and supplier of high-end vacuum valves. The sale completes Partners Group’s exit from the Company, which has generated a gross return of 6x on the original investment and a gross IRR of 74%.

Headquartered in Haag, Switzerland, VAT produces vacuum valves that are mission-critical components in the advanced manufacturing processes required to produce products such as portable electronic devices, flat-screen monitors or solar panels. Partners Group acquired VAT on behalf of its clients in February 2014, together with its investment partner Capvis. During the holding period, Partners Group worked alongside the Company’s management team on a series of Board-led value creation initiatives.

Heinz Kundert, CEO of VAT, comments: “Partners Group has been instrumental in helping to build VAT into the Company it is today, using its Board presence to drive forward the institutionalization of the business and taking a hands-on approach across a wide range of value creation initiatives. Partners Group’s period of ownership contributed to the laying of strong foundations for the future growth of our Company.”

Fredrik Henzler, Partner and Co-Head of Industry Value Creation, Partners Group, states: “When we acquired VAT, it was already the market leader in its category based on the strength of its technology, but it was less mature in non-technical areas. Our value creation strategy therefore focused on providing VAT with a road map for growth that would strengthen its organizational, process and financial capabilities.”

VAT was able to grow its revenues by a CAGR of 11% between 2013 and 2015, eventually listing on the SIX Swiss Exchange in April 2016 (ticker: VACN) with an offer price of CHF 45. Today, VAT’s shares have tripled in value and the company has doubled its employee count to 2,000 from over 1,000 at the time of Partners Group’s initial investment.

Alfred Gantner, Partner, Co-Founder and Member of the Board of Directors of Partners Group, comments: “We are pleased with our investment in VAT and the Company’s success to-date. Due to VAT’s solid corporate and financial development, its potential has also been recognized by the public market since its IPO in 2016, with its share price performance reflecting demand from investors to participate in the success story of this high-quality business.”

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