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Ardian strengthens its self-storage platform in France, by acquiring Atout-Box, the leading self-storage company in the Occitanie region

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Ardian

Ardian, a world-leading private investment house, today announces the acquisition of Atout-Box, the leading self-storage company in the Occitanie region. The acquisition is part of Ardian’s strategy of creating a property platform dedicated to self-storage.

Atout-Box was founded in 2010 with a first site in Montpellier of c.1,600sqm. Today, the company owns 7 storage centers representing around 40,000sqm with thirty employees. In addition to its core self-storage business, Atout-Box has also developed complementary services such coworking spaces, daily van hire and dedicated areas for delivering heavy goods.

Atout-Box is experiencing strong growth, driven by the increasing demand for storage among private individuals, particularly during major life events. With the support of Ardian, which will draw on its deep experience in acquisitions and asset management, Atout-Box will continue its nationwide geographic expansion as it acquires and develops further self-storage sites, to offer new locations to its customers.

The acquisition of Atout-Box strengthens Ardian’s self-storage platform, launched at the end of 2023 with the acquisition of Costockage. The portfolio now comprises 19 centers across several regions, including Ile de France, Occitanie, Auvergne-Rhône-Alpes, Bretagne, Provence-Alpes-Côte d’Azur and Hauts-de France. Ardian plans to continue its acquisition strategy in this developing property sector to meet the increasing demand from private individuals and professionals for storage space.

“The acquisition of Atout-Box represents a major step forward in the strategic development of our self-storage platform. Through its well-established centers and excellent operational expertise, Atout-Box has positioned itself as a key player in the south of France. We’re particularly impressed by its focus on customer satisfaction and the quality of its center management, which will be key to future growth. This integration strengthens our self-storage platform and we are confident that this rapidly expanding sector in France continues to demonstrate great potential.” Omar Fjer, Managing Director Real Estate, Ardian

“We’re delighted to be embarking on this new adventure with Ardian. Their experience in asset management and real estate will enable us to continue to expand throughout France and become a major player in the self-storage market. Our know-how in customer relations and expertise in the operational management of large-scale centers will help ensure this partnership is a success. True to our values and with our in-depth knowledge of the markets in which we operate, we are excited for the next stage in Atout-Box’s journey, as it continues to expand throughout France.” Jean-Baptiste Bertrand, Président, Atout-Box

List of participants

  • Ardian

    • M&A: Edmond de Rothschild
    • Legal: Lacourte Raquin Tatar
    • Notaries: Etude Attal
    • Tax law: Arsène Taxand
    • Social law: Daher
    • Data protection law: Taliens
    • Intellectual property law: Lighten
    • Financial due diligence: Oderis
    • Real estate technical due diligence: Théop
    • IT due diligence: Vaultinum
    • Environmental due diligence: Axa Climate

  • Sellers

    • M&A: CIC Conseil
    • Legal: Fairway Avocats
    • Financial due diligence: Deloitte
    • Notary: Victor Vendrell
    • Senior Advisor: Faro Capital Partners

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $176bn of assets on behalf of more than 1,720 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’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 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

Media Contacts

Ardian

Headland

ardian@headlandconsultancy.com

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Investcorp Expands U.S. Student Housing Portfolio with Four Acquisitions at Flagship Universities

Investcorp

Investcorp, a leading global alternative investment firm, today announced that it has completed four student housing acquisitions totaling nearly 3,000 beds for a gross transaction cost of over $300 million. The investments strengthen Investcorp’s student housing presence in key college markets and advances the firm’s strategy to build a diversified portfolio of off-campus housing at flagship state universities across the country. The acquisitions include:

  • A 792-bed, 99%-occupied property at Texas A&M University in College Station, Texas;
  • A 486-bed, 98%-occupied property at Texas State University in San Marcos, Texas;
  • A 699-bed, 96%-occupied property at the University of Kentucky in Lexington, Kentucky; and
  • A 684-bed, 99%-occupied property at the University of Oklahoma in Norman, Oklahoma.

“The student housing sector continues to perform well, and we believe the robust fundamentals of this asset class will translate into strong performance and compelling risk-adjusted returns for investors,” said Michael O’Brien, Global Co-Head of Real Assets for Investcorp. “Many of the top university markets face shortages of housing, and when combined with growing enrollment, this creates favorable operating dynamics which support our long-term conviction in the asset class. These dynamics are helping to drive sustained and rising demand that reinforces our long-term conviction in the asset class.”

Nationally, the student housing sector has seen strong performance this academic year, with steady tenant demand and rent growth averaging nearly 5% across the top 200 university markets, which is above the long-term average, according to Yardi. In addition, high interest rates, disrupted capital markets, and land scarcity near major universities have contributed to a significant slowdown in new construction, which is expected to sustain favorable supply/demand dynamics and stable long-term cash flows.

Ryan Bassett, Investcorp’s Head of US Residential Acquisitions, stated, “This portfolio was aggregated in four individual transactions and underscores Investcorp’s ability to target stable assets located at the best large public universities in the US. We have developed robust business plans for each asset to improve the properties over time, and have long-term conviction in each university’s continued enrollment growth.”

Investcorp has deep experience in the student housing sector, having owned and managed approximately 20,000 beds across roughly 30 investments. The firm’s US real estate strategy invests primarily in the industrial and residential sectors, which collectively represent 98% of the firm’s US real estate portfolio. In 2024, the Investcorp real estate team ranked 51 on PERE’s PERE 100, one of the most prominent rankings of real estate equity investment managers in the industry. Since 1996, Investcorp Real Estate has acquired approximately 1,400 properties for a total value of over $26 billion and currently has approximately $11.2 billion in global real estate assets under management.

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Ratos company Speed Group signs new multi-billion contract with Ericsson

Ratos

After a thorough procurement process, Ericsson has reconfirmed its confidence in Speed Group (Speed), choosing to renew its contract for the management and development of the company’s supply hub in Borås, Sweden. The new contract runs for eight years and is estimated to be worth SEK 2.5 billion

The contract includes logistics and production services and was won in tough competition with several of the industry’s largest players. The new contract is based on increased automation to future-proof Ericsson’s solution.

“The fact that Ericsson has again once again shown its confidence in Speed is very gratifying. This will help to future-proof the company and is an acknowledgement of the high quality and precision with which Speed delivers its services. In a broader perspective, Sweden is a small and export-dependent economy and it is important that products from companies like Ericsson reach their global markets. This is something we are proud to be able to contribute to. It creates value for the whole society,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

“I am incredibly proud that we, among the toughest possible competition, are Ericsson’s first choice. This is a great testament to the excellent work we do, but also to our close cooperation. We have had the privilege of working with Ericsson since 2010, and we now look forward to taking their solution to the next level together,” says Jesper Andersson, CEO of Speed Group.

The contract comes into effect on 1 July 2025. The operations will continue to be conducted from Speed’s facility in Borås, Sweden.

About Speed Group
Speed offers sustainable, flexible and innovative solutions to complex logistics, transportation and staffing challenges. Sustainability permeates the entire business, and the aim of becoming carbon neutral by 2025 was already achieved by 2023. Speed has its head office in Borås, Sweden, and logistics centres in Borås, Gothenburg, Mölndal, Stenungsund and Stockholm covering a combined total of more than 220,000 square metres. The company has sales of approximately SEK 1 billion and employs around 1,000 people.

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Jesper Andersson, CEO, Speed Group, +46 76 816 68 37

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 17 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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NSEIT Technology Business Rebrands as NuSummit, Ushering in a New Era of Global Innovation

Investcorp

A leading technology solutions provider NSEIT today announced the rebranding of its technology business to NuSummit, marking a transformative milestone in the company’s evolution as a strategic services provider with deep domain expertise. NuSummit, backed by leading global alternative investment firm Investcorp, aims to establish itself as a modern, global technology powerhouse committed to driving digital transformation across the BFSI sector and other industries.

This rebranding is part of a journey that began with the National Stock Exchange’s (NSE) divestment of NSEIT’s technology business to Investcorp in April 2024. The transaction excludes the digital examinations business that is also housed inside NSEIT. The launch of NuSummit will lay out the foundation for a powerful, unified brand with strengths in advanced cybersecurity, cloud transformation, app modernization, AI and data-driven solutions. Aujas Cybersecurity, an acquisition by NSEIT specializing in providing end-to-end cybersecurity services and solutions across industries, will now operate as ‘A NuSummit Company.’

Announcing the brand’s new identity, Mr Anantharaman Sreenivasan, Managing Director & Group Chief Executive Officer, NuSummit, said, “NuSummit symbolizes our commitment to helping clients achieve their peak potential. We are not just rebranding; we are reimagining how technology can orchestrate meaningful and measurable outcomes that empower businesses to meet and capitalize on the opportunities presented by the digital and AI-driven business landscape. With a strong focus on cybersecurity, we ensure that businesses remain secure while advancing their digital transformation. Backed by Investcorp’s strategic vision and resources, NuSummit is now positioned to enter new geographies and industries. We aspire to be the strategic technology partner for companies worldwide, trusted for delivering business-critical services and solutions. Our customers can rely on us to deliver future-ready, thorough, and robust systems and processes that enhance efficiency and scalability.”

Mr Varun Laul, Partner at Investcorp, added, “We are pleased to be NuSummit’s partner in their ambitious goals to unlock transformative value through technology. NuSummit is uniquely positioned in the market with its cutting-edge solutions. We will be closely working with the NuSummit team as they explore newer geographies offering innovative and tailored solutions to modernize their IT landscapes, with a focus on tangible business outcomes.”

NuSummit is a leading provider of advanced digital transformation and cybersecurity services across industries. Its core focus is on global customers in capital markets, insurance, and banking. NSEIT has a strong presence in India, North America, and the Middle East.

Over the next five years, NuSummit aims to be the partner of choice, particularly for BFSI organizations that aim to leverage technology as a business differentiator by adopting AI-led modernization and digital transformation, and zero-trust cybersecurity.

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Carlyle to Acquire a Majority Stake in Waste Services Group from Livingbridge

Carlyle

Sydney, Australia, December 9, 2024 – Global Investment firm Carlyle (NASDAQ: CG) today announced that it has agreed to acquire a majority stake in Waste Services Group (“WSG”), a commercial, industrial and liquid waste management business in Australia, from Livingbridge. Equity for the investment will come from investment funds affiliated with Carlyle Asia Partners (CAP). Livingbridge will also be reinvesting for a significant minority stake. Terms of the transaction are not being disclosed.

Established in 2016, WSG is a waste services company operating in the commercial and industrial segment of the Australian waste sector, serving over 10,000 customers and employing over 600 people.

Carlyle has a long history of investing in and growing industrial businesses, both globally and across Asia. Carlyle will work with WSG’s management team to further build out the company’s scale and operations, including supporting continued geographic expansion within Australia, and the broadening of services provided.

Geoff Hutchinson, Managing Director and Head of Australia and New Zealand at Carlyle, said, “We have been impressed by WSG’s track record of growth, enabled by its strong focus on customer service, and we think the business is an excellent platform for continued expansion. We are excited to partner with the management team and look forward to working together with them on the next chapter of growth.”

Oliver Mauldridge from Livingbridge, said, “We are committed to the continued success of WSG and are delighted to be reinvesting. We look forward to partnering with management and Carlyle to build the leading commercial and industrial waste business in the region.”

Carlyle has invested approximately US$32 billion of equity in over 125 deals in the industrial sector globally, as of September 30, 2024.

***

About Waste Services Group

Waste Services Group (WSG) is a waste services company operating in the commercial and industrial segment of the Australian waste sector. Since its inception in 2016, WSG has grown to now serve over 10,000 customers and employ over 600 people.

 

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $447 billion of assets under management as of September 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,300 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

About Livingbridge 

Livingbridge is a leading mid-market private equity firm which empowers businesses to unlock their potential. Since 1999, Livingbridge has supported over 170 investments. Livingbridge is an ambitious and international team with offices in London, Manchester, Australia, and the US.

To find out more visit Livingbridge.com   

 

Media contacts:

Carlyle

Lonna Leong

Lonna.leong@carlyle.com

+852 9023 1157

 

About Livingbridge 

Livingbridge

Lydia Kalia

Lydia.kalia@livingbridge.com

+44 7850 972496

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Apollo and Santander Partner on a $370 Million Infrastructure Portfolio Financing

Apollo logo

NEW YORK, Dec. 09, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Santander today announced that Apollo-managed funds and affiliates have agreed to invest in an approximately $370 million portfolio of infrastructure credit. The transaction was led by Apterra, an affiliate of Apollo founded in 2023 that specializes in innovative financing solutions for infrastructure projects.

Apollo Partner and President of ACT Capital Samuel Feinstein said, “We are pleased to announce this transaction with Santander, which builds on our longstanding relationship and demonstrates the type of bespoke financing solutions that Apollo can provide to our banking partners and corporate clients. We have high conviction in the infrastructure finance opportunity globally given the large capital demands that will continue to drive investment in the sector and see continued opportunity to collaborate with Santander in the space.”

Marcel Patino, Global Head of Private Debt Mobilization at Santander said, “As we continue to execute on our strategy to proactively rotate assets and maximize profitability, we are pleased to partner with Apollo and Apterra on this portfolio transaction. We remain committed to private debt mobilization to generate additional capital for profitable growth as we continue to accelerate our business transformation efforts.”

Over the past five years, Apollo has deployed over $40 billion[i] into energy transition and climate-related investments and actively seeks to grow its platform as capital deployment in these areas of the global economy continues to scale. Across asset classes, Apollo targets deploying $50 billion in clean energy and climate investments through 2027 and sees the opportunity to deploy more than $100 billion by 2030.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2024, Apollo had approximately $733 billion of assets under management. To learn more, please visit www.apollo.com.

About Santander
Banco Santander (SAN SM) is a leading commercial bank, founded in 1857 and headquartered in Spain and one of the largest banks in the world by market capitalization. The group’s activities are consolidated into five global businesses: Retail & Commercial Banking, Digital Consumer Bank, Corporate & Investment Banking (CIB), Wealth Management & Insurance and Payments (PagoNxt and Cards). This operating model allows the bank to better leverage its unique combination of global scale and local leadership. Santander aims to be the best open financial services platform providing services to individuals, SMEs, corporates, financial institutions and governments. The bank’s purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising €220 billion in green financing between 2019 and 2030. At the end of the third quarter of 2024, Banco Santander had €1.3 trillion in total funds, 171 million customers, 8,100 branches and 208,000 employees. Santander Corporate & Investment Banking (Santander CIB) is Santander’s global division that supports corporate and institutional clients, offering tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society.

[i] As of June 30, 2024. Deployment commensurate with Apollo’s proprietary Climate and Transition Investment Framework, which provides guidelines and metrics with respect to the definition of a climate or transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) total facility size for Apollo originated debt, warehouse facilities, or fund financings; (ii) purchase price on the settlement date for private non-traded debt; (iii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iv) total capital organized on the settlement date for syndicated debt; and (v) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

Santander:
comunicacion@gruposantander.com

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Antares Capital is Lead Investor in Sconset Re

Antares

CHICAGO — Antares Capital (“Antares”), a leading alternative credit manager with approximately $73 billion in capital under management and administration, today announced its role as a lead investor in Sconset Re Reinsurance Company (“Sconset Re”), a newly formed independent reinsurance company that will re-insure certain Allianz assets.

Beyond this initial transaction, Sconset Re will support future reinsurance opportunities for Allianz, enabling it to continue to reinvest in product innovation and growth.

As a direct lending asset manager for Sconset Re, Antares will manage a portion of the company’s assets through its direct lending strategy, which focuses on extending senior secured loans to leading, sponsor-backed middle market U.S. companies. Sconset Re will be capitalized through equity investments from high quality institutional partners, including Voya Financial and Antares.

“Antares is proud to serve as a trusted partner to insurance companies, providing a depth of expertise in capital efficient investment solutions and as a source of strategic capital,” said Ben Concessi, Head of Strategy and Corporate Development for Antares and Sconset RE Board member. “This transaction marks an important milestone for Antares, serving as a replicable example of our approach to supportive, long-term partnerships with insurance companies.”

Debevoise & Plimpton LLP served as legal counsel for Antares. Deutsche Bank acted as the sole Financial Advisor to Allianz on the transaction, and also acted as the sole Arranger of a debt financing facility to Sconset Re Ltd.

About Antares Capital
Founded in 1996, Antares has been a leader in private credit for nearly three decades. Today with approximately $73 billion of capital under management and administration as of September 30, 2024, Antares is an experienced and cycle-tested alternative credit manager. With one of the most seasoned teams in the industry, Antares is focused on delivering attractive risk-adjusted returns for investors and creating long term value for all of its partners. The firm maintains offices in Atlanta, Chicago, Los Angeles, New York, Toronto and London.

Visit Antares at www.antares.com or follow the company on LinkedIn at https://www.linkedin.com/company/antares-capital-lp.

Antares Capital is a subsidiary of Antares Holdings LP, (collectively, “Antares”). Antares Capital London Limited is an appointed representative of Langham Hall Fund Management LLP, an entity which is authorized and regulated by the Financial Conduct Authority of the UK.

Contacts
Allison Perkins
475-266-8039
allison.perkins@antares.com

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3i invests c.€145m in leading wet wipe brand WaterWipes

3I

3i Group plc (“3i”) today announces it has agreed to invest c.€145m in WaterWipes UC, a leading premium wet wipe brand.  WaterWipes®’ products are 99.9% water and made from only two natural ingredients. The purity makes its products highly differentiated and proven effective to help prevent and reduce negative skin reactions. The company is globally accredited by skin health and allergy institutions and endorsed by healthcare professionals.

As part of the transaction, WaterWipes®’ Founder, Edward McCloskey, is retaining a significant minority position, with the leadership team led by Paul Heeringa, CEO, re-investing and partnering with 3i.

Headquartered in Drogheda, Ireland, WaterWipes UC is geographically diversified with sales in over 50 countries and double-digit growth in both offline and online channels. The company provides an essential everyday product with over 90% of its customers using wet wipes at least once per day. WaterWipes®’ superior product quality has led to market-leading levels of customer loyalty and advocacy, with the company generating consistent growth for over a decade and a CAGR of over 20% since 2017.

WaterWipes® is the clear premium-segment leader in the c.€12 billion personal care wet wipes market, which is forecast to grow strongly driven by increased hygiene awareness following COVID and demand for convenience. With plant-based plastic-free wipes and natural ingredients, WaterWipes® is also an industry leader in sustainability.

3i is investing to further accelerate WaterWipes®’ growth. 3i will support the company’s expansion in Europe, Latin America and Asia, driving growth in its core Baby and Children’s range as well as capturing further opportunities in additional categories such as Adult and Convenience.

Edward McCloskey, Founder and Executive Chairman, WaterWipes, said: “I’m delighted to be partnering with the team at 3i. They bring deep experience across our value chain, from manufacturing personal care products and scaling premium brands to working closely with leading international offline and online retailers. A big acknowledgement to my 390 WaterWipes colleagues, many of whom have been on this great adventure with me for years, daring to believe that a small startup could successfully challenge the global FMCG giants. Together with 3i we will capture the significant growth opportunities and execute the next phase of our strategy.”

Rupert Howard, Partner, 3i, said: “We’ve been following WaterWipes’ progress for many years. The company’s positioning fits perfectly with our strategy of investing in international branded consumer businesses, building on our recent experience with MPM and Havea. We are excited to partner with Edward and the team to support WaterWipes on its next growth phase, as it builds on its impressive foundations and continues to expand both its geographic and category reach.”

 

-Ends-

Download this press release 

For further information, contact:

WaterWipes UC

Paul Bradley

FleishmanHillard

Eilish Joyce

FleishmanHillard

  

Tel: +353 85 174 4281

Email: paul.bradley@fleishmaneurope.com

Tel: +353 87 791 4641

Email: eilish.joyce@fleishmaneurope.com

 

3i Group plc

Elmley de la Cour

Media enquiries

Silvia Santoro

Shareholder enquiries

  

Tel: +44 20 7975 3023

Email: elmley.delacour@3i.com

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

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CompuGroup Medical enters into an investment agreement with CVC Capital Partners

CVC Capital Partners

CVC announces intention to launch a voluntary public tender offer to all free float shareholders

  • CVC to launch voluntary public tender offer for EUR 22.00, subsequent delisting envisaged
  • Significant premium of 51.1% to the 3M VWAP and 33.5% to closing price as of December 6, 2024 provides shareholders with opportunity to realize value immediately
  • Founding family Gotthardt and related shareholder Koop sign strategic partnership agreement with CVC and will retain majority stake
  • The road to CompuGroup Medical’s long-standing goal of improving healthcare worldwide through digitalization is being strengthened.
  • This partnership brings CGM customers further increased quality, highest safety and even stronger focus on innovation
  • CompuGroup Medical employees will remain part of a company that is even more ambitious, with a determined will to grow and a high level of innovation
  • Managing Directors, Supervisory Board and Administrative Board welcome strategic partnership with CVC and voluntary public tender offer

Koblenz – CompuGroup Medical SE & Co. KGaA, one of the world’s leading e-health providers, has been improving healthcare by digitizing medical care for more than 30 years. CompuGroup Medical’s software supports medical and organizational processes in doctors’ and dentist’s offices, pharmacies, laboratories, hospitals and social institutions daily. This provides medical professionals with more time for their patients and helpful medical information for the benefit of everyone in the healthcare system.

Today, CompuGroup Medical announced a strategic partnership agreement with CVC Capital Partners, one of the world’s leading private equity firms, and GT1 Vermögensverwaltung GmbH, CompuGroup Medical’s majority shareholder. The partnership with CVC will become effective if a holding company controlled by investment funds advised and managed by affiliates of CVC Capital Partners successfully completes a voluntary public tender offer for all outstanding shares of CompuGroup Medical at a price of EUR 22.00 per share in cash. The offer corresponds to a premium of 51.1% to the volume-weighted average price over the past three months.

The founding family Gotthardt and related shareholder Dr. Reinhard Koop, who together hold 50.1% of all shares, will retain their majority stake in CompuGroup Medical. CompuGroup Medical founder Frank Gotthardt will remain Chairman of the Administrative Board, while Prof. (apl.) Dr. med. Daniel Gotthardt continues as Chief Executive Officer and member of the Administrative Board.

The partnership with CVC is expected to support the long-term innovation and growth strategy of CompuGroup Medical. Together, CompuGroup Medical and CVC plan to drive innovation in healthcare for the benefit of patients and healthcare providers worldwide. The joint goal is to reliably empower medical professionals with next generation products and strong customer support.

Prof. (apl.) Dr. med. Daniel Gotthardt, CEO of CompuGroup Medical said: “At CompuGroup Medical, our highest priority is to provide customers – medical doctors, dentists, healthcare practitioners, hospitals and pharmacies and other healthcare providers – with the best possible solutions to advance healthcare. Based on innovative, data-based and AI-empowered solutions, we have the unique opportunity to add a new dimension to healthcare in the years to come. CVC’s extensive expertise in investments in the healthcare industry and software business will support us to deliver our strategy as planned. Our envisaged partnership will catalyze the next phase of innovation and expansion, for the benefit of our customers, and ultimately patients.”

Daniela Hommel, CFO of CompuGroup Medical, commented: “The Managing Directors welcome the envisaged strategic partnership with CVC due to their international network and deep industry expertise in the software and healthcare sectors. Partnering with CVC will allow us to take advantage of greater growth opportunities, such as investments in inorganic growth and increasing our focus on cloud-based products and AI-powered solutions. It will be particularly advantageous, when speed is of essence regarding financing. For our shareholders, the offer represents the opportunity to realize their investment at a premium of 51.1 % to the volume-weighted average price over the past three months.”

Frank Gotthardt, company founder and Chairman of the Administrative Board added: “The purpose of CompuGroup Medical remains unchanged: Nobody should suffer or die because at some point medical information was missing. Over decades, our customers and employees have appreciated the stability provided by a strong anchor shareholder. CompuGroup Medical will remain family-owned going forward. And I am convinced we have found the perfect partner to build on that strength to write the next successful chapter in our company history.”

Daniel Pindur, Managing Partner at CVC, said: “CompuGroup Medical has written an unparalleled success story over the past 30 years. There are only a handful of those founder-led stories in Germany. It has become a real European champion in digitization. We look forward to collaborating closely with the Gotthardt family and the team, leveraging CVC’s experience in strategic partnerships with founder-led family businesses. Together, we want to write the next chapter of healthcare.”

Can Toygar, Senior Managing Director at CVC, added: “In light of demographic changes and professional labor shortages, the healthcare market will need more digital solutions. CGM is an outstanding company, and uniquely positioned to transform healthcare in Europe, making it better and more efficient. Together, we will focus on investments in modern, data-based products and improving service quality for medical doctors, pharmacists and nursing staff.”

Offer Details

CVC intends to launch a voluntary public tender offer to all CompuGroup Medical free float shareholders for EUR 22.00 per share in cash. The offer corresponds to a premium of 51.1% to the volume-weighted average price over the past three months and will be subject to a minimum acceptance threshold of 17% and customary regulatory conditions, including antitrust clearance. Upon completion of the offer, and combined with founding family Gotthardt and related shareholder Dr. Koop, the strategic partners will hold at least 67% of all shares. The parties have agreed not to enter into a domination and/or profit and loss transfer agreement for a period of two years following the closing of the offer.

The Managing Directors, Supervisory Board and Administrative Board of CompuGroup Medical welcome the strategic partnership with CVC. CompuGroup Medical Management SE and the Supervisory Board intend to recommend the acceptance of the offer, subject to their review of the offer document. They will provide a reasoned statement pursuant to § 27 WpÜG after publication of the offer document by CVC. After completion of the tender offer, the management of CompuGroup Medical and CVC have agreed to take the company private by way of a delisting offer, which is intended in due course after closing of the tender offer.

The acceptance period is expected to begin by the end of December 2024. Closing of the transaction is expected in the first half of 2025. In accordance with the requirements of the German Securities Acquisition and Takeover Act, the offer document and other information in connection with CVC’s public tender offer will be made available on the following website after approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht): www.practice-public-offer.com

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KKR-led consortium announces delisting offer for Encavis AG at EUR 17.50 per Encavis share

KKR

6 December, 2024 – Today, Elbe BidCo AG (“BidCo”), a holding company controlled by investment funds, vehicles and accounts advised and managed by Kohlberg Kravis Roberts & Co. L.P. and its affiliates (collectively, “KKR”) has announced its intention to make a public delisting offer (“Delisting Offer“) for all outstanding shares (ISIN: DE0006095003) of Encavis AG (“Encavis“), a leading and proven German renewable energy platform and independent power producer.

Shareholders will receive EUR 17.50 per Encavis share in cash, corresponding to the offer price of the preceding voluntary public tender offer that was completed on 4 December 2024. With the settlement of the preceding voluntary public takeover offer, KKR, Viessmann Generations Group GmbH & Co. KG and ABACON CAPITAL formed a consortium and now hold 87.73% of the shares in Encavis through BidCo.

In addition, BidCo and Encavis today entered into an agreement, pursuant to which Encavis has undertaken to apply for the revocation of the admission to trading of the Encavis shares (ISIN: DE0006095003) on the regulated market (Prime Standard) of the Frankfurt Stock Exchange as well as on the regulated market (Prime Standard) of the Hamburg Stock Exchange (so-called delisting) prior to the expiration of the acceptance period of the Delisting Offer. The Management Board and the Supervisory Board of Encavis are fully supportive of the delisting and intend to recommend that all shareholders accept the offer.

The Delisting Offer will be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). This offer document will be published following receipt of permission from BaFin, at which point the acceptance period of the Delisting Offer will commence. The offer document (in German and a non-binding English translation) and other information pertaining to the Delisting Offer will be published on the following website: https://www.elbe-offer.com. The acceptance period is expected to be approximately 6 weeks starting from publication of the offer document as further set out in the offer document. There will be no additional acceptance period. The Delisting Offer will not be subject to any closing conditions.

PJT Partners is acting as financial advisor and Hengeler Mueller is acting as legal advisors on the Delisting Offer.

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About KKR

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

About Encavis

The Encavis AG (Prime Standard; ISIN: DE0006095003; ticker symbol: ECV) is a producer of electricity from Renewable Energies. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to around 3.6 gigawatts (GW), of which around 2.2 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.1 GW of capacity under construction, of which around 800 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.

Additional information can be found at www.encavis.com.

 

Media Contacts

KKR

Thea Bichmann

Mobile: +49 (0) 172 13 99 761

Email: kkr_germany@fgsglobal.com

 Fabian Prietzel

Mobile: + 49 (0) 171 86 01 411

Email: kkr_germany@fgsglobal.com

Encavis

Dr. Oliver Prüfer

Mobile: +49 151 5834 0863

Email: oliver.pruefer@encavis.com

  

 

 

Disclaimer and forward-looking statements

This press release is neither an offer to purchase nor a solicitation of an offer to sell Encavis Shares. The final terms of the Delisting Offer as well as other provisions relating to the Delisting Offer will be communicated in the offer document after the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) has permitted the publication of the offer document. Investors and holders of Encavis Shares are strongly advised to read the offer document and all other documents relating to the Delisting Offer as soon as they have been made public, as they will contain important information. The offer document for the Delisting Offer (in German and a non-binding English translation) with the detailed terms and conditions and other information on the Delisting Offer will be published after approval by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) amongst other information on the internet at www.elbe-offer.com.

The Delisting Offer will be implemented exclusively on the basis of the applicable provisions of German law, in particular the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG), the German Stock Exchange Act (Börsengesetz – BörsG) and certain securities law provisions of the United States of America relating to cross-border takeover offers. The Delisting Offer will not be conducted in accordance with the legal requirements of jurisdictions other than the Federal Republic of Germany or the United States of America (as applicable). Accordingly, no notices, filings, approvals or authorizations for the Delisting Offer have been filed, caused to be filed or granted outside the Federal Republic of Germany or the United States of America (as applicable). Investors and holders of Encavis Shares cannot rely on being protected by the investor protection laws of any jurisdiction other than the Federal Republic of Germany or the United States of America (as applicable). Subject to the exceptions described in the offer document and, where applicable, any exemptions to be granted by the respective regulatory authorities, no Delisting Offer will be made, directly or indirectly, in those jurisdictions in which this would constitute a violation of applicable law. This press release may not be released or otherwise distributed in whole or in part, in any jurisdiction in which the Delisting Offer would be prohibited by applicable law.

The Bidder reserves the right, to the extent permitted by law, to directly or indirectly acquire additional Encavis Shares outside the Delisting Offer on or off the stock exchange, provided that such acquisitions or arrangements to acquire are not made in the United States, will comply with the applicable German statutory provisions, in particular the WpÜG, and the Offer Price is increased in accordance with the WpÜG, to match any consideration paid outside of the Offer if higher than the Offer Price. If such acquisitions take place, information on such acquisitions, including the number of Encavis Shares acquired or to be acquired and the consideration paid or agreed, will be published without undue delay if and to the extent required under the laws of the Federal Republic of Germany, the United States or any other relevant jurisdiction. The Delisting Offer will relate to shares in a German company admitted to trading on the Frankfurt Stock Exchange and Hamburg Stock Exchange and will be subject to the disclosure requirements, rules and practices applicable to companies listed in the Federal Republic of Germany, which differ from those of the United States and other jurisdictions in certain material respects. The financial information relating to the Bidder and Encavis included elsewhere, including in the offer document, will be prepared in accordance with provisions applicable in the Federal Republic of Germany and will not be prepared in accordance with generally accepted accounting principles in the United States; therefore, it may not be comparable to financial information relating to United States companies or companies from other jurisdictions outside the Federal Republic of Germany. The Delisting Offer will be made in the United States pursuant to Section 14(e) of, and Regulation 14E under, the Exchange Act, and on the basis of the so-called Tier II exemption from certain requirements of the Exchange Act, which exemption allows a bidder to comply with certain substantive and procedural rules of the Exchange Act for takeover bids by complying with the law or practice of the domestic legal system and exempts the bidder from complying with certain other rules of the Exchange Act, and otherwise in accordance with the requirements of the laws of the Federal Republic of Germany. Shareholders from the United States should note that Encavis is not listed on a United States securities exchange, is not subject to the periodic requirements of the Exchange Act and is not required to, and does not, file any reports with the United States Securities and Exchange Commission.

Any contract entered into with the Bidder as a result of the acceptance of the planned Delisting Offer will be governed exclusively by and construed in accordance with the laws of the Federal Republic of Germany. It may be difficult for shareholders from the United States (or from elsewhere outside of Germany) to enforce certain rights and claims arising in connection with the Delisting Offer under United States federal securities laws (or other laws they are acquainted with) since the Bidder and Encavis are located outside the United States (or the jurisdiction where the shareholder resides), and their respective officers and directors reside outside the United States (or the jurisdiction where the shareholder resides). It may not be possible to sue a non-United States company or its officers or directors in a non-United States court for violations of United States securities laws. It also may not be possible to compel a non-United States company or its subsidiaries to submit themselves to a United States court’s judgment.

 

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