Category Archives: News

Successful realization of investment in R+S Group

Deutsche_Beteiligungs_AG
  • Implementation of value enhancement strategy and first sale of an investment exclusively with funds from own balance sheet
  • Positive value contribution for DBAG in line with forecast for current financial year
  • Reinvestment of part of the proceeds in acquiring company NOKERA in order to participate in attractive and sustainable growth prospects in the market for serial construction in the long term

Frankfurt/Main, 17 July 2023. Deutsche Beteiligungs AG (DBAG) has successfully concluded its investment in R+S Group (R+S), a leading group of companies in the fields of sustainable supply technology, digital and energy-efficient solutions for sustainable building systems, trade and future-proof skilled labour. The shares in the company will be sold to NOKERA AG (NOKERA), a producer of buildings in serial and sustainable construction. DBAG had acquired the majority of the shares in R+S in March 2021, thus structuring its second Long-Term Investment, i.e. exclusively with funds from its own balance sheet. In total, DBAG has invested around 18 million euros in R+S. The proceeds from the disposal will be partially reinvested in a minority stake in NOKERA to participate in the attractive growth of the market for serial construction and serial energy-efficient refurbishment of buildings. Corresponding agreements were signed today. The closing of the transaction is still subject to the approval of the antitrust authorities.

Positive value contribution for DBAG in line with the forecast for the current financial year
The proceeds from the disposal exceed the fair value of DBAG’s Investment in DBAG’s latest half-yearly financial report (reporting date 31 March 2023). The disposal will therefore lead to an increase in net income from investment activity of approximately 14 million euros in the current third quarter of the financial year 2022/2023. This value contribution is included in the forecast for the net asset value as at 30 September 2023 and the net income for the 2022/2023 financial year, which was specified today.

Value enhancement through strengthening of equity and acceleration of successful reorganisation
The successful strategic development of R+S in the past two years was characterised by completing the already well-advanced reorganisation of the company in order to enable a basis for further profitable revenue growth. The market environment supports this positively: the trend towards smart buildings and energy-efficient buildings ensures continued growth and expands the market especially for electrical building equipment, which R+S focuses on.

Reinvestment of part of the proceeds for further participation in attractive growth prospects
DBAG is reinvesting part of the sales proceeds in NOKERA, thereby participating in the attractive growth prospects of the market for cost-efficient, sustainable and serially produced real estate. NOKERA’s highly automated serial production offers significant cost and time advantages over conventional residential construction in an ESG-friendly environment.

“The expansion of our investment strategy to invest exclusively with funds from our own balance sheet has opened up additional investment opportunities for us,” said Jannick Hunecke, member of DBAG’s Board of Management, at the signing ceremony. “We are very pleased that with our reinvestment we can participate in the attractive growth prospects of the market for cost-efficient and sustainable residential real estate and thus also invest in sustainable construction, which is driven by the ESG trend,” Hunecke continued.

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Latour invests in Quandify

Latour logo

Investment AB Latour (publ) has, through its wholly-owned subsidiary Latour Future Solutions AB, signed an agreement to invest in Quandify AB (”Quandify”).

Quandify offers intelligent water measurement systems for commercial and private buildings, enabling cost efficient analysis of water consumption, leakage detection, and remote shut off capability. The company’s cloud-based platform uses data analysis combined with a portfolio of patented sensors and a user-friendly app. The business was founded in 2017 and is headquartered in Stockholm with 20 employees.

“One of our investment areas is sustainable water usage. Quandify offers the same possibility to analyze and reduce water consumption in a building as comparable systems already in use for electricity consumption”, says Pelle Mattisson, CEO Latour Future Solutions AB.

”Our system can reduce water consumption by up to 40 per cent and consequently reduce energy consumption by 8 – 16 per cent. This enables more informed water consumption in society. With Latour as long-term partner, we can continue driving this development both internationally and within new customer segments”, says Ramtin Massoumzadeh, CEO and one of three co-founders of Quandify.

The investment will be made via a directed share issue in Quandify AB, where Latour Future Solutions AB enters as a minority owner of approximately 22 per cent of the company.

Gothenburg, 13 July 2023

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Pelle Mattisson, CEO, Latour Future Solutions AB, +46 705 80 06 57
Niclas Nylund, Investment Director, Investment AB Latour, +46 708 17 35 85

Latour Future Solutions is an investment area within Latour that targets sustainability-focused growth companies. The ambition is that the investments should contribute to increasing the pace of the transformation to a sustainable society based on all dimensions; environmental, social and economic.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 74 billion. The wholly-owned industrial operations has an annual turnover of SEK 24 billion.

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Gladstone Investment Corporation Announces Support for Fern Exposition Acquisition

Gladstone

MCLEAN, VA / ACCESSWIRE / July 12, 2023 / Gladstone Investment Corporation (Nasdaq:GAIN) (“Gladstone Investment”) announced today that it provided senior secured debt and an equity investment to support MSouth Equity Partners’ acquisition of Exposition Holdings, LLC (“Fern Exposition Services”), a leading trade show service provider and general contractor. As part of that transaction, Fern Exposition Services will join forces with Nth Degree, Inc. (“Nth Degree”), an existing MSouth and Gladstone Investment portfolio company operating in the trade show, event management, and production space, to create a substantial footprint in the experiential marketing industry.

Fern Exposition Services operates at over 1,400 trade shows and events annually as an official services provider, including multiple top-100 shows. Nth Degree offers a range of services including exhibit and event labor, installation supervision, trade show management, retail installation, and transportation to its clients spanning all industries. In addition, the company’s event division – Nth Degree Events – creates large-scale corporate meetings, user conferences, and exhibitions that drive growth and create memorable experiences for consumers and business buyers, delivering more than 4,000 different industry events, conferences, congresses, and exhibitions annually.

“Gladstone Investment has enjoyed a strong partnership with MSouth Equity Partners and Nth Degree’s management team over the last several years. Nth Degree has a strong history of growth, both organically and through acquisition, and we are very excited about the addition of Fern Exposition Services as Nth Degree continues to expand its service offering,” said Peter Roushdy, Executive Vice President and Managing Director of Gladstone Investment.

Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information on the transaction can be found at www.gladstoneinvestment.com.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment, Nth Degree and their management teams, and the ability of Gladstone Investment and Nth Degree to grow and expand are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

For further information: Gladstone Investment Corporation, (703) 287-5893

SOURCE: Gladstone Investment Corporation

View source version on accesswire.com:
https://www.accesswire.com/767058/Gladstone-Investment-Corporation-Announces-Support-for-Fern-Exposition-Acquisition

Released July 12, 2023

Categories: News

Alfa eCare acquires Sirenia

Main Capital Partners

Alfa eCare, a leading healthcare software provider in the Nordics, today announces the acquisition of Sirenia, active in the Danish, Swedish and American healthcare market providing innovative solutions for care practitioners in the private and public sector. The acquisition was supported by Main Capital Partners.

Sirenia, founded in 2016, is a software company with focus on software robots and integration of user applications to healthcare providers in Denmark, Sweden and USA. Sirenia has developed a strong portfolio of Robotic Process Automation (RPA), Robotic Desktop Automation (RDA) and Context Management solutions aimed to improve quality and automate work processes for care practitioners.

Alfa Group, a leading healthcare software provider in the Nordics
Sirenia becomes the 8th acquisition by Alfa eCare, since Main Capital Partners became majority owners of the group in 2020. With a complimentary offering targeting the regional healthcare market, Alfa group further strengthens its position in the Nordic eCare market and its ability to provide its end-users with an improved quality of service while simultaneously making a strategic step into the Danish healthcare sector. Alfa group currently services over 1,400 customers in the public as well as the private sector, which today includes players such as Humana, Previa, Tandea, Pilke and St Lukas, Folktandvården Skåne and Värmland and the municipalities of Joensuu, Mikkeli, Nacka and Stockholm Stad.

Albert Winter, Managing Director at Alfa Group, commented: “”For several years, we have seen a development towards more complex customer needs where our customers demand complete system solutions and a supplier that takes overall responsibility. Sirenia’s solutions within RPA and Context Management complement our current systems in a way that we now have the product portfolio that our customers demand. Together with Sirenia, we have taken the step into the future.”

New innovative offerings that improves quality and efficiency across healthcare organizations

Freddy Lykke, Co-founder and CEO at Sirenia, adds: “We are very excited about the future perspective in being member of Alfa Group and Main. It provides an important opportunity to significantly accelerate our further expansion into new markets and to new clients. By combining the solutions from Alfa and Sirenia we can provide new innovative offerings that improves quality and efficiency across healthcare organizations.”

Wessel Ploegmakers, Partner and co-Head of the Nordics office at Main, added: “The combination of Sirenia and Alfa eCare marks an exciting step for both companies in their joint growth journey towards becoming a one-stop shop for the broader healthcare and welfare market. Further, the acquisition marks an important step in entering the Danish market allowing the combined group to offer additional strategic value to end customers. We look forward to support the combined organization in its further expansion.

The combination of Sirenia and Alfa eCare marks an exciting step for both companies in their joint growth journey towards becoming a one-stop shop for the broader healthcare and welfare market.

– Wessel Ploegmakers, Partner and co-Head of the Nordics office at Main

About

Alfa eCare

Alfa eCare was founded in 1998 and is based in Malmö, Sweden. With over 115 employees, Alfa eCare services over 1.400 clients in a wide variety of domains within the healthcare and welfare market. Clients range from social, geriatric and youth care providers to general practitioners, dental care providers, public institutions, personal assistance providers, and municipalities. Alfa eCare’s broad offering includes SaaS-solutions for journaling, electronic prescription, medication management, care planning, financial administration, booking management, care communication and day care administration.

Serenia

Sirenia was founded in 2016 and is based in Aarhus, Denmark. The company provides a modern product suite for the healthcare market and currently serves over 40 customers with a strong presence in the Danish, Swedish and American market. Sirenia offers a complete offering of robotic process automation, robotic desktop automation and context management solutions aimed to improve quality and automate the work processes for care practitioners.

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Clinisupplies Acquires Great Bear Healthcare to Expand Direct-to-patient Chronic Care Services in the Community

LONDON–(BUSINESS WIRE)– Clinisupplies, a leading manufacturer and supplier of continence care consumables, today announced the acquisition of Great Bear Healthcare, a UK-based manufacturer and supplier of continence products for managing acute and chronic conditions.

Clinisupplies and Great Bear Healthcare are both growing organisations predominately focused on the UK healthcare market for continence products. The two companies provide continence care nursing services to support the NHS and offer a dedicated home delivery service for continence care products to patients’ homes.

Great Bear Healthcare is the first acquisition since Clinisupplies became a KKR portfolio company in January 2023 and is allied to the ambition of building an international chronic care medical devices platform.

Paul Cook, CEO of Clinisupplies, commented: “Becoming part of the KKR network and leveraging their team’s expertise helps us to support more consumers and engage with more healthcare professionals. Great Bear is the perfect fit for Clinisupplies to strengthen our core business in the UK and create a platform for future growth. We look very much forward to working with the Great Bear team and continuing the great work of founders who created a successful organisation.”

Al Hale, CEO of Great Bear, commented: “Clinisupplies is the right organisation to take Great Bear onto the next stage of its growth journey. The last 16 years has seen Great Bear grow from a new entrant to a strong player within the UK continence market. The investment which Clinisupplies is now able to bring to the organisation will enable further growth to support more patients across the UK.”

KKR invested in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth healthcare companies. KKR has a long track record of supporting healthcare companies globally, having invested approximately $19 billion in the sector since 2004.

About Clinisupplies
Clinisupplies is a leading UK-based manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. Employing over 500 people in the UK, China and India, Clinisupplies supplies its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

About Great Bear
Great Bear Healthcare is a UK-based manufacturer and supplier of continence care products and operates the home delivery service Nightingale. The company was created in 2007 with the aim of developing a high-quality range of continence products to enable people to live the life they want to lead.

Great Bear has grown consistently and today employs more than 120 people working across Great Bear & Nightingale home delivery service. Great Bear is headquartered in Cardiff with home delivery services based in Cardiff & Bridgwater.

Please visit www.greatbearhealthcare.co.uk for further information.

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 and on Twitter @KKR_Co.

FGS Global
Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Source: KKR & Co. Inc.

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Ardian agrees to sell d&b Group to Providence

Ardian

Worldwide leading provider of high-end audio systems and AVLM services for the event sector plans to continue international growth achieved with the support of Ardian with new owner, Providence.

Ardian, a world-leading private investment house, has sold its majority stake in Cubes Holding GmbH (“d&b”) to Providence. Since acquisition in 2016, Ardian has supported the company and its management team, led by CEO Amnon Harman, on a dynamic path of strong organic growth and geographic expansion. As part of the transaction, d&b’s management team will re-invest alongside Providence and continue to successfully develop the company.

Founded in 1981 and headquartered in Backnang, Germany, d&b is one of the world’s leading providers of professional audio technology and AVLM (Audio, Video, Light & Media) solutions to create unique, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services.

With Ardian’s support, d&b has consistently delivered strong growth, achieving a double-digit compound annual growth rate (CAGR) since 2016, despite the temporary market disruption in the events sector caused by the COVID 19 pandemic. Since Ardian’s acquisition, the number of employees has tripled from around 350 to more than 1,000. The company’s growth has been driven by innovations, the expansion of the product and solutions portfolio, and the development of existing and new markets, particularly in the Americas as well as the APAC region. The strategic development of the company was delivered by both organic growth and targeted acquisitions.

“The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world’s leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share. Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.” Amnon Harman, CEO of d&b Group

“We would like to thank Amnon Harman and his team for their hard work, unwavering commitment and, above all, the trust they have placed in us over the past seven years. d&b has an outstanding corporate culture that is embodied by each and every employee. The contribution of all d&b colleagues has been essential to the Group’s success, including significant growth, a strategic transformation and strong international positioning. We are proud to have accompanied d&b on this journey together and we wish the entire team and Providence the very best for the next chapter in the company’s history.” Alexander Friedrich, Managing Director Buyout, Ardian and Stefan Kappis, Director Buyout, Ardian

“d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, clear market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b will continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our solid track record of investing in live entertainment and technology companies, we are confident Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.” Robert Sudo, Managing Director, Providence

“The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b’s addressable opportunities. We were impressed by d&b’s passionate management team and with Providence’s resources and network, we are committed to supporting d&b’s strategic plan.” Andrew Tisdale, Senior Managing Director, Providence

The parties have agreed not to disclose the financial details of the transaction, which is still subject to approval by the relevant antitrust authorities.

PARTIES INVOLVED IN THE TRANSACTION

  • Ardian

    • Ardian: Alexander Friedrich, Stefan Kappis, Christian Koch, Stefanie Arndt
    • M&A: Macquarie Capital (Florian Geiger / Sung-Duk Kim / Anthony Youssafi) & Goldman Sachs (Tobias Köster / Tibor Kossa / Fredrik Weege)
    • Legal: Milbank (Dr. Norbert Rieger / Dr. Matthias Schell / Dr. Thomas Ingenhoven)
    • Financial: PwC (Peter Gröninger / Daniel Haas)
    • Commercial: McKinsey & Co. (Dr. Isabel Huber / Salvador Martinez)
    • Tax: Taxess (Gerald Thomas / Richard Schäfer)
    • ESG: Indefi (Emmanuel Parmentier)

  • Providence

    • Providence: Andrew Tisdale, Robert Sudo, Daniel Zwicky
    • M&A: Alantra (Wolfram Schmerl), UniCredit (Michal Lehocky, Marcel Kus)
    • Legal: White & Case (Dr. Stefan Koch), Allen & Overy (Vanessa Xu)
    • Tax: EY

ABOUT D&B

The d&b Group provides professional audio technology and AVLM solutions to create memorable, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services.
Founded in Germany in 1981, d&b headquarters are located in Backnang, near Stuttgart. With offices in major cities around the world, the global d&b team numbers more than 1000 professionals.

www.dbgroup.de www.dbaudio.com www.dbsolutions.com

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

Press contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Beter Bed Holding and Torqx Capital Partners agree on recommended all-cash offer

Torqx Capital

Torqx Capital Partners is pleased to announce that it has reached a conditional agreement with Beter Bed Holding on an intended recommended all-cash public offer for 100% of the shares in Beter Bed Holding with an offer price of EUR 6.10 per share, representing a significant premium of approximately 107% to Beter Bed’s closing price per share on 7 July 2023 of EUR 2.95.

Torqx and Beter Bed Holding strongly believe that private ownership will be instrumental to Beter Bed’s continued success during the next phase of its development and shall be beneficial for all stakeholders. It will allow Beter Bed management to fully focus on the long-term strategic plan and accelerate both organic and in-organic growth of the company.

Harmen Geerts, Managing Partner & Chief Investment Officer of Torqx Capital Partners: “Beter Bed has a robust strategy in place with the right components for growth and long-term success. We recognize the quality and commitment of the management team, having a clear vision where to steer the company, combined with strong execution skills.”

After settlement Torqx will become majority shareholder. Three long-term and dedicated shareholders in Beter Bed Holding – Navitas Capital, Teslin Participaties Coöperatief UA and investor De Engh B.V. – will re-invest in the company after successful completion of the offer.

Based on the required steps and subject to the necessary approvals, Torqx and Beter Bed Holding anticipate that the offer will close ultimately beginning of 2024.

The joint press release announcing the public offer for Beter Bed Holding can be found on our website.

Link to webpage with press release

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Providence Acquires d&b Group from Ardian

Providence

Leading global provider of high-end audio, video, light & media solutions for the event sector to continue international growth

LONDON – 10 JULY 2023 – Providence Equity Partners (“Providence”), a premier private equity firm specializing in growth-oriented investments in media, communications, education and technology, today announced its acquisition of a majority interest in d&b Group (“d&b”) – with the registered name of Cubes Holding GmbH – from Ardian. The existing management team is re-investing and will continue to lead day-to-day operations following completion. Financial terms were not disclosed.

Headquartered in Backnang, Germany, d&b is one of the world’s leading providers of professional audio technology and end-to-end Audio, Video, Light & Media (“AVLM”) solutions for live entertainment. d&b operates through d&b audiotechnik, which offers high quality audio systems for installation projects and rentals, as well as d&b solutions – which offers comprehensive service solutions across audio, video, lighting, and extended reality.

In the last 10 years, d&b has evolved organically and through acquisitions from a loudspeaker manufacturer to a premier event technology company with over 1,000 employees globally. Select global customers include the Sydney Opera House, Amsterdam Arena, Royal Albert Hall, Wembley Stadium, BBC, and ITV Sport.

Providence has prior experience partnering with innovative businesses specialising in technology and live entertainment solutions in Europe and North America.

The transaction is expected to close by October 31, 2023, subject to necessary and customary closing conditions.

Robert Sudo, Managing Director at Providence, said: “In our view, d&b bears the hallmarks of a classic Providence investment – it is a business with innovation at its core, market leadership and loyal customers. d&b’s passionate team has advanced and defined industry standards and exceeded client expectations for the last four decades. We believe d&b can continue its growth trajectory by delivering spectacular experiences to audiences across the globe. With our prior experience investing in live entertainment and technology companies, we believe Providence is the ideal partner to support d&b and we look forward to working with Amnon and his hugely talented team to execute our shared vision for the business.”

Andrew Tisdale, Senior Managing Director at Providence, added: “The needs of customers in live entertainment are becoming ever more complex, which has expanded d&b’s addressable opportunities. We were impressed by d&b’s passionate management team and, with Providence’s resources and network, we are committed to supporting d&b’s strategic plan.”

Amnon Harman, Chief Executive Officer of d&b, said:

The global growth trend for events, concerts and major events has continued unchanged after a forced break due to the COVID-19 pandemic. This is accompanied by the increasing professionalization and digitization of these events and thus an increasing need for professional event technologies. As one of the world’s leading system providers for audio technology and integrated audio, video, light and media solutions (AVLM) with a comprehensive portfolio of hardware and software technologies, we are perfectly positioned to gain further market share.

Ardian has proven to be a reliable business partner over the past few years. Thanks to their unwavering support, especially during the pandemic, we have been able to innovate during this period of crisis and to emerge stronger from it. We look forward to continuing our successful journey with Providence and cementing our global position as a leader in professional audio and integrated AVLM solutions.”

Dr. Alexander Friedrich, Managing Director of Buyouts, and Stefan Kappis, Director of Buyouts at Ardian, said: “We would like to thank Amnon Harman and his team for their hard work, unwavering commitment and, above all, the trust they have placed in us over the past seven years. d&b has an outstanding corporate culture that is embodied by each and every employee. The contribution of all d&b colleagues has been essential to the Group’s success, including significant growth, a strategic transformation and strong international positioning. We are proud to have accompanied d&b on this journey together and we wish the entire team and Providence the very best for the next chapter in the company’s history.”

Alantra and Unicredit served as financial advisors to Providence, and White & Case and Allen & Overy as legal counsel. Intermediate Capital Group arranged financing.

About Providence Equity Partners
Providence Equity Partners is a specialist private equity investment firm focused on growth oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $35 billion across more than 170 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit www.provequity.com.

About d&b Group
The d&b Group provides professional audio technology and AVLM solutions to create memorable, multisensorial experiences. d&b audiotechnik, the manufacturing side of the firm, is internationally regarded as a leading company for sound reinforcement systems in installed and mobile applications, with a reputation for quality of construction, standard of service, system integration principles, and pioneering technological development. d&b solutions, the service-focused business entity, offers complete and flexible audio, video, lighting and xR expertise, covering system planning, installation, maintenance and managed services. Founded in Germany in 1981, d&b headquarters are located in Backnang, near Stuttgart. With offices in major cities around the world, the global d&b team numbers more than 1000 professionals.

 

 

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Bausch Health Enters Into $600 Million Financing Facility With KKR

KKR

LAVAL, QC / ACCESSWIRE / July 7, 2023 / Bausch Health Companies Inc. (NYSE/TSX:BHC) and KKR today announced that Bausch Receivables Funding LP, an Ontario limited partnership and wholly-owned subsidiary of Bausch Health, has entered into a $600 million non-recourse financing facility with KKR and its credit funds and accounts. The facility will be collateralized by certain accounts receivables originated by a wholly-owned subsidiary of Bausch Health.

Bausch Health expects to utilize the proceeds from the facility for general corporate purposes. The facility provides access to additional liquidity for a term of approximately five years.

Houlihan Lokey, Inc. acted as the Company’s financial advisor. Finacity Corporation acted as the administrator for the program, providing analytic and execution support, and is responsible for ongoing program administration and reporting.

About Bausch Health

Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global diversified pharmaceutical company whose mission is to improve people’s lives with our health care products. We develop, manufacture and market a range of products primarily in gastroenterology, hepatology, neurology, dermatology, international pharmaceuticals and eye health, through our controlling interest in Bausch + Lomb. With our leading durable brands, we are delivering on our commitments as we build an innovative company dedicated to advancing global health. For more information, visit www.bauschhealth.com and connect with us on Twitter and LinkedIn.

Forward-Looking Statements About Bausch Health
This news release may contain forward-looking statements about the future performance of Bausch Health, which may generally be identified by the use of the words “anticipates,” “hopes,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “believes,” “subject to” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Actual results are subject to other risks and uncertainties that relate more broadly to Bausch Health’s overall business, including those more fully described in Bausch Health’s most recent annual report on Form 10-K and detailed from time to time in Bausch Health’s other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference.

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 and on Twitter @KKR_Co.

About Finacity

Finacity, a White Oak Global Advisors Company, specializes in the structuring and provision of efficient capital markets receivables funding programs, supplier and payables finance, back-up servicing, and program administration. Finacity currently facilitates the financing and administration of an annual receivables volume of approximately US $150 billion. With resources in the USA, Europe, Latin America, and Asia, Finacity conducts business throughout the world with obligors in 175 countries. Finacity is affiliated with White Oak Global Advisors, LLC, a leading alternative debt manager specializing in originating and providing financing solutions to facilitate the growth, refinancing, and recapitalization of small and medium enterprises. For further information, please visit www.finacity.com.

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Investor Contact: Media Contact:
Mark Maico Kevin Wiggins
ir@bauschhealth.com corporate.communications@bauschhealth.com
(877) 281-6642 (toll free) (908) 541-3785
Julia Kosygina
media@kkr.com
(212) 750-8300

SOURCE: Bausch Health Companies Inc

Categories: News

KKR Invests in Perú’s First Open Access Fiber Optic Network to Bridge the Digital Divide and Increase Competition in the Market

KKR
  • Leading global investment firm KKR agrees to acquire a majority interest in PangeaCo and the fiber optic networks of Telefónica del Perú and Entel Perú
  • KKR plans approximately US$200 million of additional investment to accelerate expansion of ultra-fast digital infrastructure to more than double the network to at least 5.2 million homes passed across Perú by the end of 2026
  • KKR will own a 54% controlling interest in Perú’s first independent open access wholesale fiber optic network, with 36% owned by Telefónica Hispanoamérica and 10% owned by Entel Perú

LIMA, Peru & NEW YORK–(BUSINESS WIRE)– KKR, Telefónica Hispanoamérica, and Entel today announced agreements under which KKR will acquire a majority interest in PangeaCo and the existing fiber optic networks of Telefónica del Perú and Entel Perú to build Perú’s first nationwide open access wholesale fiber optics company with the mission to bring greater access to fiber optics connectivity across the country. The transaction will combine the existing fiber optic networks of PangeaCo, Telefónica del Perú, and Entel Perú into an independent company controlled by KKR. The newly formed network will be open access, allowing usage to all internet service providers for the first time. KKR plans to make approximately US$200 million of additional investment to more than double the ultra-fast fiber network from more than 2 million homes passed today to reach 5.2 million homes passed across 86 provinces by the end of 2026.

Under the terms of the agreement, KKR will acquire a controlling interest in PangeaCo, which will subsequently acquire the existing fiber optic networks of Telefónica del Perú and Entel Perú. Through the combination of these networks, KKR will establish ON*NET Fibra de Perú as the new name for the platform which will independently build and operate the nation’s largest fiber optic network with world-class quality standards. KKR will own a 54% interest in ON*NET Fibra de Perú alongside Telefónica Hispanoamérica, which will own 36%, and Entel Perú, which will own 10%.

The entire ON*NET Fibra de Perú fiber optic network will be open to use by all internet service providers, increasing competition in the wholesale market. Telefónica del Perú and Entel Perú will be anchor tenants on the expanded open access network, enabling both providers to reach a greater number of customers with ultra-high-speed offerings. The transaction does not impact the services provided by existing customers of PangeaCo, Telefónica del Perú or Entel Perú. Upon closing of the transaction, customers will benefit from the scale of the larger network.

In Perú, approximately 88% of households have mobile or fixed internet service, but less than 35% have access to high-speed fiber optic networks.1 KKR, as the controlling shareholder, intends for ON*NET Fibra de Perú to more than double the households reached by fiber optic network, including reaching municipal areas outside of Lima as well as middle- and low-income households. This transaction demonstrates continued investor confidence in Peruvian infrastructure and the commitment of the companies to contribute to the sustainable development of the digital connectivity in the country.

Today’s announcement builds on KKR’s success in expanding nationwide connectivity and increasing competition in Chile and Colombia. ON*NET Fibra de Chile has expanded access from 2.4 million homes passed to 3.7 million homes passed since KKR signed the acquisition in February 2021 and ON*NET Fibra de Colombia has increased homes passed from 1.2 million to 2.4 million since signing in July 2021.2 Both companies have attracted multiple internet service providers to utilize their open access networks.

KKR is making the investment through its KKR Global Infrastructure Investors III fund and plans to provide operational support to ON*NET Fibra de Perú through NEXO LatAm, a digital infrastructure business supporting KKR’s Infrastructure strategy across Latin America. KKR and NEXO LatAm have significant experience supporting the successful expansion of open access fiber optic investments.

The transaction is subject to regulatory approvals, including the approval of the Peruvian antitrust agency (INDECOPI).

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 and on Twitter @KKR_Co.

About Telefónica Hispanoamérica

Telefónica is one of the largest telecommunications service providers in Spanish America. The company operates under the Movistar trademark and offers fixed broadband connectivity -with FTTH solutions- and mobile services with 4G and 5G networks (the latter in Chile and Mexico), as well as a wide range of digital services for more than 110 million residential and business customers across the region. Telefónica Hispam offers its services in: Mexico, Colombia, Venezuela, Perú, Ecuador, Uruguay, Chile and Argentina.

About Entel

With more than 58 years of experience, Entel is a leader in technology and telecommunications with operations in Chile and Perú, where it has more than 20 million mobile subscribers. The company offers mobile and fixed connectivity services, as well as a wide range of digital and IT services in the consumer (B2C), business and large corporate (B2B) segments. In both countries it also provides wholesale and call center services. For all its services, it offers simple and efficient experiences, backed by a robust, state-of-the-art infrastructure and a solid brand image and customer service.

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1 Sources: OSIPTEL “Residential Survey of Telecommunications Services” (December 2021) and Omdia Fiber Development Index 2022 (October 2022).
2 Figures as of December 2022.

Media Contacts:

For KKR:
Azerta (For KKR Peru):
Leslie Salas
lsalas@azerta.pe
KKR@Azerta.pe

For KKR Americas:
Miles Radcliffe-Trenner and Emily Cummings
media@kkr.com

For Telefónica:
Dulce Jiménez
prensa.hispam@telefonica.com

For Entel:
Press Contact (Entel Perú):
Estrella Malpica
emalpica@tocasociados.com

Investor Contact (Entel Chile):
Paula Raventós – Santiago Uauy
ir@entel.cl

Source: KKR

Categories: News

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