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Bain Capital Private Equity to acquire FIS

BainCapital

LONDON and MONTECCHIO MAGGIORE, Italy – 7th July 2023 – Bain Capital Private Equity (“Bain Capital”), a leading global private investment firm, and Nine Trees Group S.p.A. (“NTG”)¸ the holding company of the Ferrari Family, announce that they have reached binding agreements (subject to customary conditions precedent) for the acquisition by Bain Capital of the entire NTG’s shareholding in FIS – Fabbrica Italiana Sintetici S.p.A. (“FIS” or the “Company”), a leading developer and manufacturer of small molecule active pharmaceutical ingredients (APIs) and intermediates.

 

Founded in 1957 by the Ferrari Family in Montecchio Maggiore, FIS has a long history of pharmaceutical technical innovation and is recognised globally for its differentiated capabilities and deep technical expertise. Over the years FIS has become the development and manufacturing partner of choice for top blue-chip pharmaceutical companies around the world for custom and generic API synthesis. In 2022, the Company generated sales of approximately €700M in 70 countries and more than 300 customers around the globe, with a network of three world-class manufacturing facilities based in Italy, employing more than 2,000 people, including 250 R&D scientists, and having in its portfolio 25 of the 200 best-selling small molecules in the world.

 

“In over 60 years of history, the Ferrari Family has created, developed and continuously supported FIS – Fabbrica Italiana Sintetici, leading it to become the leader of the small molecule and active pharmaceutical ingredients sector in Italy, and one of the best-in-class developers and manufacturers in Europe and Globally. Today FIS is ideally positioned to further grow and expand internationally to become one of the world leaders in the APIs / small molecule industry. The Ferrari Family has found in Bain Capital an ideal partner who can drive the future growth of the business into the next phase, considering its significant industrial experience and operational resources. We are thankful to the FIS Management team led by Michele Gavino (CEO) and Manuel Barreca (CFO) and to all FIS employees and stakeholders for the successful path carried on together so far. We would also like to thank all the people that have contributed to this successful transaction” said Giampaolo Ferrari, Alessandro Ferrari and Andrea Cappellato Ferrari, respectively Chairman and Managing Directors of NTG and FIS.

 

“FIS Management Team is very proud of the results achieved by the Company in recent years and the work that we are doing together with our customers and partners in developing cutting-edge technologies and continuing to create sustainable and responsible innovation in the APIs and small-molecule sector. We thank the Ferrari Family for all the continued support provided to the Company and we are looking forward to be working with Bain Capital and drive FIS to further grow and become the global industry leader in the APIs / small molecule industry”, said Michele Gavino, CEO of FIS and Manuel Barreca, CFO of FIS.

 

“Our investment in FIS marks a strategically important transaction for Bain Capital Private Equity in Europe, consistent with our thematic investment approach to the pharmaceutical industry. We were impressed by FIS’ deep expertise in complex chemistry, differentiated development capabilities, and strong relationships with Pharma and Biotech customers. We have high conviction in the industry’s growth prospects and are excited to support the development and manufacture of innovative and life-saving therapies for patients worldwide,” said Christina Dix and Benjamin Kunstler, Partners and Co-Heads of European Healthcare at Bain Capital Private Equity.

 

“The acquisition of FIS is perfectly aligned with our long track record of successful partnerships with family-owned business and further builds on our successful Italian franchise. We are honoured to partner with the Ferrari family and to accompany FIS in its next phase of growth,” said Ivano Sessa, Partner at Bain Capital Private Equity.

NTG’s financial advisors were Houlihan Lokey and Zulli Tabanelli & Associati. Orsingher Ortu Avvocati Associati provided legal advice and PwC worked on the vendor due diligence.

 

Bain Capital has been advised by Mediobanca, Nomura, Latham & Watkins, Advancy, Bain & Company, PwC, Pirola Pennuto Zei & Associati and InterPharmaLink.

 

The transaction remains subject to approvals by competent regulatory authorities.

 

 

About FIS – Fabbrica Italiana Sintetici / NTG:

FIS – Fabbrica Italiana Sintetici S.p.A.

FIS (FIS – Fabbrica Italiana Sintetici SpA) was founded in 1957 in Montecchio Maggiore (VI) by the Ferrari family, which maintains ownership to this day. It’s a leader in Italy and one of the major operators in Europe in the production of active ingredients for the industry pharmaceutical and operates 3 plants in Italy: Montecchio Maggiore (VI), Termoli (CB) and Lonigo (VI). FIS belongs to the Nine Trees Group, and is also present in the USA (FIS North America), Japan (FIS Japan), and in China with a representative office. With a turnover of around 700 million euros, the company now has over 2000 employees, of which 250 are dedicated to research and development. Michele Gavino has led the company as Chief Executive Officer since February 2021.

 

For more information, visit: https://www.fisvi.com

 

 

About Bain Capital Private Equity:

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $165 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

 

For more information, please visit: www.baincapitalprivateequity.com

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IK Partners completes acquisition of Medica Group

IK Partners

Press Release
Friday, 7 July 2023

IK Partners (“IK”) is pleased to announce that the IK IX Fund has completed its acquisition of Medica Group Plc (LSE:MGP) (“Medica” or “the Group”), a market-leading teleradiology provider in the UK and Ireland and provider of imaging solutions to clinical trials in the US. Representing IK’s fourth platform investment in the UK, the acquisition of Medica was made through Moonlight Bidco Limited (“Bidco”), a newly incorporated wholly owned subsidiary of funds advised by IK.

Following shareholder approval on Friday, 9 June 2023, the acquisition became effective on Thursday, 6 July 2023 and Medica has now been de-listed from the London Stock Exchange.

Founded in 2004 and headquartered in Hastings, UK, Medica is a leading healthcare services provider with operations in the UK, Ireland and US. With over 400 employees globally, the Group has a network of more than 750 radiologists, radiographers and specialist doctors who serve over 200 clients worldwide. In the UK and Ireland, Medica provides a fast and reliable reporting service (including out-of-hours) for MRI, CT, Ultrasound and X-Ray to more than 100 National Health Service (“NHS”) trusts, the Irish Health Service Executive (“HSE”) and independent sector organisations. Through its subsidiary in the US, RadMD, Medica provides high-quality imaging services for clinical trials within the pharmaceuticals, biotechnology and medical device industries, with particular expertise in oncology. Within the area of clinical trials, Medica has, to date, contributed to over 600 studies globally.

IK’s focus will be on supporting the Group to continue delivering high-quality services to its customers, with a strong emphasis on maintaining high standards of clinical governance and sub-speciality expertise offered by its network of over 750 outstanding radiologists, radiographers and specialist doctors. IK’s investment will support Medica and its management team to continue investing in its people, technology and new capabilities, both organically and through M&A.

IK has a well-established track record of investing in successful companies across the Healthcare sector and to date, has invested in 23 healthcare companies across Europe, deploying approximately €2.1 billion of capital.

Stuart Quin, CEO of Medica Group, said: “Since inception, Medica has gone from strength-to-strength, becoming an international provider of high-quality telemedicine services, imaging services for clinical trials and a market-leading teleradiology provider in the UK and Ireland. This, coupled with the outstanding contributions of our employees as well as a dedicated network of exceptional radiologists, radiographers and specialist doctors, has enabled us to continue improving patient outcomes by delivering the highest quality service. As we embark on the next phase of Medica’s growth, we look forward to working closely with the team at IK, whom we believe is best placed to support us given their active partnering approach and understanding of our markets. This represents an exciting next step as we continue to provide high-quality reporting to support our customers and lead the way in telemedicine.”

Pete Wilson, Partner and Advisor to the IK IX Fund, added: “We are delighted to complete the acquisition of Medica and begin working with Stuart and his team to drive continued strong growth. The Group provides critical services to a broad range of healthcare providers and is contributing, in partnership with its customers, to help clear imaging backlogs, reduce waiting times and ultimately improve clinical outcomes. We look forward to supporting the business in achieving its mission to lead the way in delivering collaborative and responsive telemedicine solutions that put patient outcomes at the heart of what they do.”

 

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 170 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Medica Group

Medica is the teleradiology market leader, providing hospital radiology departments with independent support to address serious capacity issues in both urgent and non-urgent reporting pathways. Founded in 2004 and headquartered in Hastings, UK, Medica has operations in the UK, Ireland and US. With over 400 employees globally, the Group has a network of more than 750 radiologists, radiographers and specialist doctors who serve over 200 clients worldwide. For more information, visit www.medica.co.uk

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Ratos company Presis Infra secures new contracts amounting to NOK 2.3 billion in the first half of 2023

Ratos

During the first half of 2023, Ratos company Presis Infra, which specialises in the maintenance of critical infrastructure including ferry quay operation and maintenance, and rockfall protection in Norway and Sweden, was awarded new contracts amounting to NOK 2.3 billion. The contracts were signed with existing customers and with terms from 2023 to 2028.

“We are delighted that Presis Infra’s performance in the first half of 2023 was so positive. Maintenance of critical infrastructure will play an important role in the future, and Presis Infra has what it takes to succeed and the expertise to do so in a cost-efficient and sustainable manner,” says Christian Johansson Gebauer, Board member of Presis Infra and President Business Area Construction & Services, Ratos.

The contracts were signed with Norwegian municipalities, the Norwegian Public Roads Administration (NPRA) and the Swedish Transport Administration, and the projects encompassed by the contracts are spread throughout Norway and Sweden.

“We are proud of the confidence our client has shown in us and look forward to continuing our productive partnership. We are especially proud that we have significantly increased our market share in Norway while also securing two contracts in Sweden, which is a new market for us,” says Eivind Iden, CEO, Presis Infra.

Performance since Ratos acquired Presis Infra in 2021
Ratos acquired 75% of Presis Infra in 2021 as a platform investment in the expansive future industry of infrastructure maintenance. Since the acquisition, the company has continued to deliver a positive performance, with sales of NOK 2,344m in the last 12 months as of the end of the first quarter of 2023.

For more information and media, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. 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 companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Lazeo Welcomes Significant Investment from Blackstone

Blackstone

LONDON, UK and PARIS, FRANCE – July 6, 2023 – Lazeo, the number one provider of aesthetic medicine services in France, today announced that funds managed by Blackstone Tactical Opportunities (“Blackstone”), have agreed to make a significant investment in the Company. Financial terms of the transaction were not disclosed.

Headquartered in Paris, Lazeo is a founder-led, family-owned provider of non-invasive aesthetic medicine services including laser hair removal, injectables, body contouring, and medical-grade facials. Founded in 2010 by Dr. Bernard and Dimitri Sillam with a single location in Paris, Lazeo has grown to become the number one provider in France with 135 locations, five in Belgium and significant runway for further expansion in both existing and new markets. In 2023, Lazeo entered Germany with the acquisition of Munich-based Cleanskin.

This partnership with Blackstone will support Lazeo’s continued growth and help meaningfully scale its operations and ongoing expansion. Dimitri Sillam, Co-Founder and Chief Executive Officer, will continue to run day-to-day operations of the Company.

Dimitri Sillam, Co-Founder and CEO at Lazeo, said: “We are thrilled and honoured to partner with Blackstone for the next phase of our growth journey. Blackstone shares in our vision to make Lazeo into a European champion in aesthetic medicine, and we look forward to working together to build on our significant success to date.”

Raphael de Botton, Senior Managing Director at Blackstone, said: “Providing capital to a family-founded company is a hallmark of Blackstone Tactical Opportunities and we are delighted to partner with Bernard, Dimitri and the Lazeo team.

“Lazeo is a high-growth market leader with clear brand recognition in a sector with strong industry tailwinds and meaningful value-add opportunities. Together with the Sillam family, Blackstone will support Lazeo in capitalising on its leadership position in France, while expanding its operations in Europe.”

The transaction is subject to regulatory approvals and other customary closing conditions.

Press Contacts:

Lazeo
Scarlett Sillam
+33 6 84 60 35 16

Blackstone
Rebecca Flower
Rebecca.Flower@blackstone.com
+44 (0)7918 360372

The Leverage Advisory on behalf of Blackstone
Florence Sabourin
fsabourin@theleverageadvisory.eu
+33 6 07 62 47 36

About Lazeo
Lazeo is the leading aesthetic medicine provider in France, with over 140 fully owned locations across France, Belgium, and Germany, and over 800 employees. Lazeo provides safe, non-invasive treatments at the forefront of innovation for maximum effectiveness and comfort, with treatments that are tailored to meet the needs and requirements of each client. Lazeo was founded in 2010 by Dr. Bernard Sillam and Dimitri Sillam.

About Blackstone
Blackstone is the world’s largest alternative asset manager. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $991 billion in assets under management include investment vehicles focused on private equity, real estate, private and liquid credit, infrastructure, life sciences, growth equity, public securities and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, Twitter, and Instagram.

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PAI Partners to acquire majority stake in Infra Group

PAI Partners

PAI Partners (“PAI”), a pre-eminent private equity firm, today announces its agreement to acquire a majority stake in Infra Group, a multi-disciplinary network infrastructure services provider. Upon completion, PAI will become the largest shareholder in Infra Group, joining current investors ICG, Andera Partners and the management team led by Tom Vendelmans.

Headquartered in Belgium, Infra Group offers a one-stop-shop range of services from design, engineering and installation to maintenance of essential infrastructure in electricity, water & sewage, telecoms, gas & district heating and green spaces.

Infra Group is a leading player in infrastructure services across Belgium, Germany, the Netherlands and France, with over €750m annual revenues and more than 3,000 highly skilled technical staff. Thanks to its differentiating multi-utility approach, Infra Group has established longstanding relationships with a diverse base of blue-chip infrastructure network operators, some of which have spanned several decades.

Infra Group has achieved strong growth in recent years driven by positive medium- and long-term secular trends, including the growing need for investment in critical infrastructure and the transition towards a low-carbon and digital future.

PAI’s investment will support Infra Group and its management team as they continue to deliver the group’s growth strategy. In particular, PAI will draw on its expertise in infrastructure and technical services to further strengthen the company’s position and accelerate its expansion organically and through further complementary acquisitions.

Tom Vendelmans, CEO of Infra Group, said: “With PAI, our new major investor, joining current investors ICG and Andera, we have the ideal partners to support the group in our next steps. Their professional experience, combined with Infra Group’s strong business approach, will help drive further growth and success.”

Mathieu Paillat and Guillaume Leblanc, Partners at PAI Partners, said: “Infra Group is an exceptional company, with an outstanding record of profitable growth. As a critical enabler to the ongoing energy transition in Europe with a reputation for excellent quality of service, Infra Group is ideally positioned to benefit from ongoing investment plans to upgrade utility networks. We look forward to partnering with Tom Vendelmans, the management team, ICG and Andera to further develop the group in this exciting next phase of growth.”

Hadj Djemai, Head of Southern Europe, European Corporate at ICG, said: “We are delighted to have been able to support Infra Group’s exceptional growth under the leadership of Tom Vendelmans. This remarkable journey exemplifies our investment strategy, which involves supporting outstanding founders and entrepreneurial management teams with a strategic roadmap and ambitious growth aspirations. We are pleased to continue this partnership with a new high-calibre shareholder such as PAI and are looking forward to seeing Infra Group’s continued success.”

Laurent Tourtois, Partner at Andera Partners, added: “Since our first partnership in 2019 with Tom Vendelmans and his team, the company more than quadrupled in size in less than four years. We are excited that Infra Group welcomes a first-class shareholder such as PAI Partners and are delighted to further support the group for its next cycle alongside our partners at ICG and Infra Group’s excellent management team.”

Completion is subject to customary regulatory approvals.

Media contact

PAI Partners
Dania Saidam
dania.saidam@paipartners.com
+44 20 7297 4678

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. It manages c. €25 billion of dedicated buyout funds and, since 1994, has completed 98 investments in 12 countries, representing over €70 billion in transaction value.  PAI has built an outstanding track record through partnering with ambitious management teams where its unique perspective, unrivalled sector experience, and long-term vision enable companies to pursue their full potential – and push beyond. Learn more about the PAI story, the team and their approach at: www.paipartners.com.

About Infra Group

Infra Group is a leading multi-disciplinary network infrastructure services provider in Belgium, France, the Netherlands and Germany. The Group is active in telecom, electricity, water & sewage, gas & district heating, earthmoving, industry, public lighting, and green spaces.

The Group offers a one-stop-shop range of services from design, engineering and installation to maintenance of essential infrastructure networks, giving the Group a competitive edge for important frame agreements and in large projects.

More on: www.infra-group.eu

About ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $80.2bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Twitter.

About Andera Partners

Created over 20 years ago, Andera Partners is a major player in private company investments in France and internationally, managing nearly €4 billion in investments. Based in Paris, with offices in Antwerp, Milan and Munich, Andera Partners is wholly owned by its teams, which count nearly 110 professionals. Learn more about Andera Partners at www.anderapartners.com.

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EQT Exeter Industrial Value Fund VI closes at USD 4.9 billion, exceeding target size of USD 4.0 billion

eqt
  • Successful fundraise reflects EQT Exeter’s top ventile, proven outperformance for its global clients in geo-sector focused real estate investment products
  • The Fund pursues a high alpha, value-add strategy focused on acquiring, developing, renovating, leasing, and operating logistics properties in the US

EQT is pleased to announce that EQT Exeter Industrial Value Fund VI (the “Fund”) has held its final close at USD 4.9 billion in fee generating assets under management. Demand from existing and new investors was strong, with commitments coming from a diverse group of pensions, foundations, insurance, and sovereign clients across North America, South America, Europe, Asia, and the Middle East.

The Fund pursues a value-add strategy to acquire, develop, renovate, lease, operate, and sell industrial properties serving major markets throughout the US and emphasizing single-tenant, modern supply chain assets, which include big box fulfillment center and last mile assets used by the world’s largest corporations to implement their delivery systems. In the US and Mexico alone, EQT Exeter employs investment and leasing professionals across 25 offices who provide a keen selection of submarkets and properties and whose insights into tenant demand are informed by over 1,200 industrial tenant relationships.

While acknowledging the prudence required amid global macroeconomic uncertainty, EQT Exeter believes that current conditions for acquisitions are fertile, as the higher interest rate environment has resulted in reduced asset pricing. Meanwhile, sustained high occupancy nationally and the elevated cost to build new facilities have led to remarkable rental rate growth. The Fund seeks to capitalize on these market fundamentals by utilizing EQT Exeter’s in-house, local leasing professionals to increase occupancy, reset rental rates to market levels upon lease expirations, and secure strong credit tenants who better withstand market cyclicality. EQT Exeter will also execute high-yielding ground-up construction by utilizing the team’s sophisticated in-house design and development expertise.

“We are grateful to our investors for their support, particularly during this challenging environment for making new fund commitments,” said Rayenne Chen, Global Client Solutions. “This fund is among the largest single-property sector, operator funds ever raised, and we attribute our investor partners’ support and confidence to our proven experience in navigating the opportunities and risks of challenging market cycles.”

Matt Brodnik, Chief Investment Officer, EQT Exeter, said, “We look forward to assembling this portfolio amid significant pricing resets due to today’s choppy markets. More than ever, we count on our longtime and far-reaching relationships with owners, the brokerage community, and lenders to uncover opportunities and serve as their most preferred and reputable buyer.”

Henry Steinberg, President, EQT Exeter, said, “The direct relationships we have developed with global logistics users have enabled us to serve as their essential real estate solutions provider. Winning their business will drive the Fund’s occupancy and value appreciation no matter the market cycle. Furthermore, we are developing analytic tools to leverage our in-house, locally sourced acquisition and leasing data across geographies and product types to make EQT Exeter an even more effective and informed operator.”

Contact
US media inquiries: Stephanie Greengarten, stephanie.greengarten@eqtpartners.com, +1 646-687-6810
International media inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT Exeter
EQT Exeter is a global real estate solutions provider serving corporate and consumer tenants with scope and scale. With a legacy dating back 75 years, EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing, leasing, and managing logistics/industrial, office, life science and residential properties in Europe, the Americas and Asia. EQT Exeter was created through the combination of Exeter Property Group and EQT.

A tenant-centric, global leader in sheds, beds, and meds, EQT Exeter currently oversees a portfolio totaling over 320 million square feet across 1,550 buildings. The EQT Exeter Team comprises more than 450 experienced professionals operating in more than 50 offices around the globe. Together, they have consummated over 1,800 real estate investments corresponding to over 2,500 properties totaling more than $30 billion in property value. As part of EQT, the team leverages the firm’s industry-leading sustainability credentials and framework and in-house digitalization skills to generate increased value for its investor clients.

About EQT
EQT is a purpose-driven global investment organization with EUR 119 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

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KKR and Mirastar enter Sweden with prime last-mile logistics acquisition in Stockholm

KKR

Transaction is KKR’s second in the Nordics this year via its Core+ Real Estate strategy

 

Stockholm, 5 July 2023 – KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have acquired a high-quality last-mile logistics property in Stockholm. This off-market acquisition is the first in Sweden for KKR and Mirastar, and the second in the Nordics this year for KKR through its European Core+ Real Estate strategy, following the acquisition of a residential portfolio in Finland in May.

 

The c.12,500 sqm new build has been developed to modern functional specifications with strong ESG credentials, and will be acquired with a partial pre-let to Adelphos Healthcare AB, a developer and marketer of healthcare products. The building is situated in Botkyrka, a prime location in southwest Stockholm, benefiting from close access to the E4 and E20 highways with an approximately 30-minute drive to the city centre. The significant transport links make this a strong base for businesses supplying Stockholm, while also connecting Sweden’s capital city to the south of the country.

 

Anthony Butler, CIO and Co-Founder at Mirastar, said: “To buy a new build of this quality in such a sought-after and supply-constrained location is a rarity in Stockholm. We are delighted to be entering Sweden with an acquisition that aligns so closely with our regional strategy, and we look forward to building out our presence across the Nordic region.”

 

Alexander Thams, Director and Head of Nordics Real Estate at KKR, added: “Last mile logistics is a key sub-sector in KKR’s European real estate strategy. The rapid expansion of e-commerce continues to drive occupier demand, further enhanced by the re-shoring of supply chains becoming a higher priority for businesses. We will look to rapidly grow our industrial and logistics portfolio in the Nordics alongside Mirastar over the coming years, in line with our Europe-wide focus on this sector.”

 

Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR, commented: “This acquisition in Sweden is a great fit for our pan-European Core+ platform in Europe, which focuses on investing in high quality, substantially stabilised assets with medium to long-term value growth potential. Logistics is a key theme within this strategy, as is investing in western and northern Europe including the Nordics where we are seeing sustained demand from operators for well-located grade-A logistics space.”

 

KKR has an established track record in the Nordic region, having invested over €6bn in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm in June 2021. Recent investments in the region include Söderberg & Partners, Sector Alarm, Wolt, Nordic Bioscience, Caruna, Avida and a residential real estate joint venture in Denmark.

 

KKR and Mirastar were advised by JLL, CBRE, Roschier, Tjuren and Svalner.

 

 

About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises 35 senior real estate professionals and has offices in London, Madrid, Milan, Amsterdam and Stockholm. The team at Mirastar have collectively deployed over €16bn of capital across key European markets, built and constructed in excess of 3.0m sqm of logistics assets. (https://mirastar.eu/)

 

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.

 

Media Contacts

Stockholm
Fogel & Partners
Ludvig Gauffin
KKR@fogelpartners.se
Tel: +46 (0) 70 222 60 30

 

London

FGS Global

Alastair Elwen / Sophia Johnston

KKR-Lon@FGSGlobal.com

Tel: +44 (0) 20 7251 3801

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Bain Capital Credit Provides Financing to Support Investment in Congress Wealth Management by Audax Private Equity

BainCapital

Bain Capital Credit Provides Financing to Support Investment in Congress Wealth Management by Audax Private Equity

BOSTON – July 5, 2023 – Bain Capital Credit today announced that the firm’s Private Credit Group acted as sole lender and administrative agent for a senior credit facility to support Audax Private Equity’s strategic investment in Congress Wealth Management (“Congress”), an independent registered investment advisor offering wealth management and investment advisory services to high-net-worth individuals and families in the U.S.  Terms of the credit facility were not disclosed.

 

Headquartered in Boston and founded in 2009, Congress provides innovative and tailored wealth management and financial planning solutions for high-net-worth (“HNW”) individuals, foundations and endowments, and family offices.  The firm has experienced strong growth in recent years through new client acquisition and M&A.  With over $5 billion of assets under management today, Congress serves approximately 2,300 HNW and family office clients out of seven offices across the U.S.

 

“Congress is a high-quality RIA firm with a differentiated platform and unique value proposition, and we believe the business is well-positioned to capitalize on attractive growth opportunities in today’s diverse, fragmented wealth management market,” said June Huang, a Director at Bain Capital Credit.  “We appreciate the rapport we have built with the Audax team over the years and look forward to a successful continued partnership as we support their plans for Congress’ next chapter of growth and value creation.”

 

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About Bain Capital Credit, L.P.

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $43 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 95 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific.  In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

 

 

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Kramp acquires Genfitt in Ireland

NPM Capital

Kramp’s goal is to be the essential partner in parts and accessories for the agricultural industry. Strengthening their position in Ireland is an important next step in realizing Kramp’s growth ambition, given the significance of the Irish agricultural industry. Kramp seeks strong partners with whom it can build a long-term relationship and generate mutual benefits.

Genfitt has a strong position in the Irish market. Its leading market position is rooted in its commitment to service excellence; technical and market expertise; a loyal customer base and diverse product portfolio.

This makes it a great fit with Kramp and together they will continue to build an even stronger presence in Ireland. Customers will gain access to a wider assortment, improved delivery times an additional network of suppliers, partners, technical knowledge, and services.

Paul Duggan, one of selling shareholders, explained that the owners are proud of what Genfitt has achieved since they acquired the business in 2005 and have been delighted to support the business and its staff to its 50th anniversary. He went on to say that they are certain that Kramp are the best possible owner of the business for the next 50 years, and the business will develop in a way which would not have been possible without their ownership.

Eddie Perdok comments: “In bringing Kramp and Genfitt together we will become the essential partner in the Irish agricultural industry. I’m proud to be back in Ireland, 15 years after McHugh and Kramp decided to go their separate ways. Together with Genfitt we create a strong company based on highly competent teams, leading brands, and state of art operations. We strive to accelerate Genfitt’s growth in Ireland by broadening the product portfolio and leveraging Kramp’s digital capabilities. Based on these factors we will further develop and strengthen our market position in Ireland”.

Next steps
It will be “business as usual” for the next period, as the companies proceed with the integration step-by-step. Partners will be informed about the next steps

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Ardian acquires a 50% stake in MXT Holdings, a leading Mexican telecommunications infrastructure company

Ardian

Ardian enters into co-control of MXT alongside existing shareholder Mexico Infrastructure Partners (MIP), Mexico’s largest energy and infrastructure asset manager
• Multi-faceted deal marks Ardian’s first direct investment in Mexico

Ardian, a world-leading private investment house, today announced that the Infrastructure team has signed an agreement to acquire a 50% co-control equity interest in MXT Holdings (MXT), a telecommunications infrastructure company based in Mexico. Ardian’s investment will be used by MXT Holdings to support its asset acquisition completed in 2022 for ~200 towers and ~1,800 km of metro fiber previously owned by Telefónica, as well as strategic acquisitions which will materially increase MXT’s portfolio. The transactions will be funded using primary equity raised from Ardian and existing shareholder Mexico Infrastructure Partners (MIP), a leading asset manager in the infrastructure and energy sectors across Latin America. Going forward, Ardian will be 50/50 partners in MXT alongside MIP.

Closing of Ardian’s investment is subject to customary closing conditions, including obtaining required regulatory approvals.

Headquartered in Mexico City, MXT develops, acquires, owns and operates neutral-host communication infrastructure assets across Mexico, offering wireless and fiber services. As part of the transaction, Antoine Delaprée, Founder and CEO of MXT, will continue to head the company. Since 2015, and under Mr. Delaprée’s leadership, MXT and the management team have established a strong track record and key relationships with major telecom players.

With Ardian’s investment, MXT is positioned for compelling growth opportunities, including advanced greenfield fiber projects in areas of Mexico that currently lack long-haul connectivity and consolidation in the Mexican tower sector. With a population of 130 million and the second largest economy in Latin America, the Mexican market offers enormous opportunity for telecommunications growth. Furthermore, Mexico is the second largest trading partner to the US with increased nearshoring trends, which will benefit MXT.

“MXT is Ardian’s first direct investment in Mexico, continuing our opportunistic approach in Latin America and complementing our overall Americas Strategy. Its growing economy and dynamic telecommunications market gives us confidence in our ability to deliver strong risk-adjusted returns to our investors.” Stefano Mion, Co-Head of Infrastructure Americas, Ardian

“The Mexican telecommunications sector offers notable consolidation opportunities. Coupled with a growing middle class, increasing mobile penetration, and a standout management team, MXT is poised for meaningful expansion opportunities. We are also grateful to partner with Mexico Infrastructure Partners, a prestigious asset manager with deep local business expertise and a thorough understanding of this fast-growing market. We are excited about the next chapter of growth for MXT.” Michael Obhof, Senior Managing Director Infrastructure, Ardian

“We are glad to partner with Ardian Infrastructure, a global asset manager, widely recognized for its excellent track record. Ardian’s understanding of the infrastructure sector and in particular the telecom industry, will contribute to a more ambitious business plan for MXT and bring the company to the next level of growth.” Mario Gabriel Budebo, Partner and CEO, MIP

“MXT is thrilled with Ardian’s equity investment to pursue the continued growth of our digital infrastructure platform, and to drive the expansion of our footprint across Mexico at this unique time. We are grateful to have Mexico Infrastructure Partners’ support since 2018, and we are delighted to partner with Ardian, to leverage its impressive track record and global expertise in telecom infrastructure to accelerate the next stage of MXT’s expansion.” Antoine Delaprée, Founder and CEO, MXT Holdings

The transaction is expected to close in 2H 2023. It is the second transaction from the Ardian Americas Infrastructure Fund (AAIF) V. No additional financial details were disclosed.

Parties to the transaction

  • MXT Holdings

    • Financial advisors: BTG Pactual, BBVA
    • ernational and Mexican Legal: Greenberg Traurig

  • Ardian

    • Financial advisor: Rothschild & Co.
    • International Legal: Gibson Dunn
    • Mexican Legal: Galicia Abogados

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

ABOUT MEXICO INFRASTRUCTURE PARTNERS

Mexico Infrastructure Partners (MIP) is Mexico’s largest energy and infrastructure asset manager with $3.3bn assets under management and 28 investments across the infrastructure and energy sectors. MIP was founded in 2012 and has since raised 5 equity funds, 4 of which are in Mexico and 1 in Colombia, as well as 2 infrastructure REITs (FIBRAs) with the objective of investing in long-term productive projects. MIP through its EXI Funds, seeks to consolidate investments in core, core plus, and value-add infrastructure sectors across 8 platforms: roads, social, telecom, water, airports, ports, power generation and midstream. Each platform is managed by specialized teams under MIP, benefiting from the experience, synergies, and scale of its platforms and investments across multiple sectors and jurisdictions.

mexicoinfra.com

ABOUT MXT HOLDINGS

Founded in 2015 by CEO Antoine Delaprée, MXT Holdings is a diversified platform dedicated to owning and operating telecom infrastructure assets in Mexico. The company operates as a neutral-host solutions provider, focusing on two sector divisions: Wireless and Fiber Networks. As of June 2023, MXT’s assets are comprised of ~650 telecom towers, ~3,500 km of optic fiber networks and 11 indoor DAS systems.

mxtholdings.com

US Media Contact

ARDIAN

THE NEIBART GROUP Rachelle Gaynor

ardian@neibartgroup.com +1 631 278 2046

LATAM Media Contact

ARDIAN

LLORENTE Y CUENCA Fernando Aspillaga

faspillaga@llorenteycuenca.com

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