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CapMan Nordic Real Estate exits mixed residential & retail properties in Copenhagen

CapMan Nordic Real Estate fund has sold eleven properties along Amagerbrogade, a well-known high street in Copenhagen, to a Swedish residential property company Akelius. CapMan acquired the properties in 2013 and 2014.

The properties comprise lettable space of 15,022 sqm, of which 70 % is residential and 30 % retail. The properties were the second investment of the CapMan Nordic Real Estate fund.

“We are very pleased to complete another successful exit from our Nordic Fund. We have executed the business plan of upgrading the properties; reducing the retail vacancy, and increasing the Net Operating Income by 140 % over a 4-year period,” comments Torsten Bjerregaard, Managing Partner at CapMan Real Estate.

The transaction was done in co-operation with Keystone Investment Management and with legal advice from Plesner. RED was the broker on the transaction.

CapMan Nordic Real Estate fund acquires mainly office, retail and residential properties located in established submarkets of major Nordic cities. The fund was established in 2013 with €273 million of equity. This exit is the 9th the fund has completed.

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DIF announces the sale of the DIF Infrastructure II portfolio to APG

DIF

DIF announces the sale of the DIF Infrastructure II portfolio to APG

13 July 2017 – DIF is pleased to announce that it has signed an agreement to sell the entire portfolio of assets held by its 2008-vintage DIF Infrastructure II fund (“DIF II” or “Fund”) to APG Asset Management N.V., acting on behalf of pension fund ABP (“APG”). The transaction comprises 48 PPP / PFI and renewable energy assets across Continental Europe and the UK.

DIF II was launched in October 2008 with a 10-year life to invest in infrastructure projects that offer long-term stable cash flows and an attractive return. The Fund reached a final closing in July 2010, with €572 million of committed capital and made 58 investments; of which 10 investments have already been realized. The remaining portfolio includes investments in hospitals, schools, government accommodation, roads, solar and wind projects.

With the end of the Fund’s term in 2018, DIF considered the potential alternatives for realising the portfolio and ultimately concluded that value would be maximised by launching a process for the sale of the portfolio as a whole or in parts, if preferred by bidders. The bidding process also enabled institutional investors to bid for a share in the portfolio and to elect for an optional agreement with DIF to continue to manage the portfolio. This transaction structure also allowed DIF Infrastructure III (“DIF III”) to sell its cross-shareholdings in 12 of the portfolio assets. DIF mandated Campbell Lutyens and Loyens & Loeff as financial and legal advisors, respectively.

Following a competitive bidding process, APG was selected as the preferred bidder for the acquisition of the whole portfolio of DIF II and the cross-shareholdings of DIF III. As part of its bid, APG requested DIF to continue to manage the portfolio through a new investment vehicle, with a term of 25 years.

Wim Blaasse, Managing Partner of DIF said: “We are very pleased to have agreed this transaction with APG. It generates an excellent result for the DIF II investors, well above the Fund’s target return at inception, and will allow the Fund to be fully realised within its contractual life. The successful exit is a strong endorsement of DIF’s strategy and approach, as well as the commitment of the DIF team”

Immanuel Rubin, Partner at Campbell Lutyens said: “This is one of the largest infrastructure portfolio transactions in over five years, following a trend of high-quality managers using portfolio transactions to successfully exit their holdings.”

The transaction, which is subject to EC anti-trust approval, is expected to close in Q3 2017.

About DIF

DIF is an independent and specialist fund management company, managing funds of approximately €4.2 billion across seven closed-end investment funds and several co-investment vehicles. DIF invests in the global infrastructure market through two differentiated and complementary strategies.

The majority of DIF’s funds target PPP / PFI / P3, regulated infrastructure assets and renewable energy projects in Europe, North America and Australasia.

DIF CIF I targets small to mid-sized infrastructure assets in the telecom infrastructure, rail, energy and utility sectors that generate stable and predictable cash flows that are contracted over the mid-term with highly rated entities. The fund targets both greenfield and operational projects in Europe, North America and Australasia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

About APG Asset Management N.V.

APG Group (“APG”) carries out collective pension schemes for participants in a broad range of sectors including in education, government, energy and utility companies, construction sectors and housing corporations. APG manages pension assets of in total €452 billion (May 2017) on behalf of pension funds for these sectors. APG works for over 40,000 employers and provides for the income of around 4.5 million participants. APG administers over 30% of all collective pension schemes in the Netherlands and has offices in Heerlen, Amsterdam, New York and Hong Kong.

On behalf of its clients (all of which are Dutch pension funds) APG Asset Management N.V. – a 100% subsidiary of APG Group – and its predecessors have been an active infrastructure investor since 2004, investing in excess of €10 billion to date, both through infrastructure funds as well as co-investments and direct investments with a long term investment horizon. The current portfolio encompasses almost 50 investments.

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Ardian arranges senior debt to finance Castik’s carve-out acquisition of Wolters Kluwer Transport Services

London, July 13th 2017 – Ardian, the independent private investment company, today announced the arrangement of a Senior Debt financing facility to finance Castik Capital’s carve-out acquisition of Wolters Kluwer Transport Services (“WKTS”), a leading European-focused provider of logistics management cloud-based software platforms. The financing marks the beginning of Ardian Private Debt’s Senior Debt direct lending capabilities.

WKTS was founded in 1985 under the name Teleroute, primarily offering Freight Exchange (“FX”) solutions. The Company was acquired by the Wolters Kluwer Group in 1989, which led an expansion of its product portfolio to include Transportation Management Software (“TMS”) solutions, whilst also driving strong business growth both organically and through selective M&A. Under the ownership of the Wolters Kluwer Group, WKTS has significantly expanded its geographical presence throughout Europe, and has recently expanded internationally into the US, China, and Latin America. The company currently serves more than 100,000 users across 80 countries.

WKTS primarily focuses on end-customers transporting large volumes of low value goods, where both shippers and carriers benefit significantly from managing transport volumes through web-based platforms. Within the broader market, WKTS is focused on cloud-based platforms, covering ‘matching’ through its FX platform, and ‘logistics management networks’ through its TMS platform.

ABOUT WKTS

WKTS, founded in 1985 and headquartered in Brussels, provides its customers with “on demand” Transportation Management Software and Services, equally catering for all transport and logistics professionals. With over 100,000 users across 80 countries, and through the breadth of their service offerings, WKTS is one of the few providers able to address the needs of the entire logistics supply chain via carriers, freight forwarders, logistics providers, and shippers.

www.wktransportservices.com

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$62 billion managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 460 employees working through twelve offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, New York, Paris, San Francisco, Singapore and Zurich. The company offers its 580 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian North America Direct Buyout, Direct Funds (Ardian Mid Cap Buyout, Ardian Expansion, Ardian Growth, Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and customized mandate solutions with Ardian Mandates.

www.ardian.com

ABOUT CASTIK

Castik Capital, founded in 2014, is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik Capital is Castik Capital Partners GmbH, based in Munich. The professionals of Castik Capital and Castik Capital Partners have worked together for many years and collectively the partners have more than 100 years of relevant experience in private equity, industry, consulting, and banking.

Funds managed by Castik Capital aim to deliver superior returns through a flexible, focused, and long-term approach to investing and value creation.

Castik Capital is currently investing out of its first fund which has a volume of €1 billion.

www.castik.lu

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EQT VII acquires health technology company Certara for USD 850 million

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  • EQT VII acquires Certara, the global leader in model-informed (in silico) drug development and regulatory science, focused on optimizing drug development and improving health outcomes
  • Certara’s solutions help to inform and accelerate drug development and regulatory approval processes, while addressing the key efficacy, safety, productivity and commercial challenges facing the biopharma industry
  • EQT VII to support Certara’s growth trajectory by leveraging EQT’s operational and financial resources, including its global network of industrial advisors and deep expertise within the healthcare and pharmaceutical services sectors

Princeton, NJ and New York, NY, July 11, 2017 – The EQT VII fund (“EQT VII”) today announced that it has agreed to acquire Certara (the “Company”), the leading provider of technology-driven decision support solutions for drug development, for an enterprise value of USD 850 million. The Company is being acquired from Arsenal Capital Partners. As part of the transaction, Arsenal Capital Partners will retain a minority ownership stake in Certara, with the Company’s current management team, led by Edmundo Muniz, MD, PhD, continuing to lead the organization, building on a multi-year track record of both organic growth and strategic acquisitions.

Certara is the leading provider of model-informed drug development technology and services, as well as a best-in-class provider of regulatory science, writing, and submission management software and services. Certara’s solutions help inform the drug development and regulatory approval process and address the key efficacy, safety, productivity and commercial challenges facing the biopharma industry. The Company serves 1,200 commercial companies, 250 academic institutions and numerous regulatory agencies, across 60 countries. Certara is headquartered in Princeton, New Jersey with over 500 employees globally, including key operations and senior management in Northern Europe.

Eric Liu, Partner at EQT Partners, Investment Advisor to EQT VII said: “We are deeply impressed by what the Certara management team has accomplished over the last few years. Today, Certara is the global leader in an exciting and rapidly developing market, uniquely positioned to transform the field of drug development. Under Edmundo’s leadership the Company has assembled a strong and visionary management team and a highly-talented scientific staff, while fostering a mission-driven culture and accelerating growth. We are excited to support the development of Certara through continued investment in next generation technology, further international expansion and complementary acquisitions.”

“We are excited to team up with EQT as we look toward Certara’s next phase of growth,” said Edmundo Muniz, MD, PhD and CEO of Certara. “This new strategic partnership with EQT will enable us to strengthen our core offerings as well as to capitalize on transformative next-phase growth opportunities. We are looking forward to a great partnership that will benefit our customers, our employees, and our industry.”

Centerview Partners is serving as financial advisor and Simpson Thacher & Bartlett LLP is serving as legal advisor to EQT VII. Jefferies LLC is serving as lead financial advisor and William Blair & Company as co-advisor to Certara. DLA Piper and Morgan, Lewis & Bockius LLP are serving as legal advisors to Certara.

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Viking Venture exits EcoOnline at 10 times the investment

Viking Venture exits EcoOnline at 10 times the investment

Viking Venture, the Norwegian B2B software specialist, is happy to announce its divestiture of chemical management software provider EcoOnline AS to Summa Equity. After developing the company into a rapidly growing undisputed market leader in the Nordics, Viking Venture exits at 10 times the investment in 2.5 years. Viking Venture reinvests parts of the proceeds in EcoOnline to facilitate further growth in the Nordics and to establish a leading position in Europe. 

EcoOnline is sold to Summa Equities, a leading Nordic private equity firm, in an all cash transaction valuing EcoOnline at NOK 355 million. Viking Venture owned 64% of EcoOnline prior to the transaction.

– The sale of EcoOnline is a highly successful exit, yielding 10 times return on our investment in only 2.5 years, says Erik Hagen, managing partner of Viking Venture and the former chairman of the board of EcoOnline.

– With Summa Equity as a strong partner we will continue the rapid growth in our existing markets and are ready to expand into Europe, says Jostein Vik, partner of Viking Venture and former board member of EcoOnline. – We want to take part in the continued value creation and are reinvesting a substantial sum together with management”.

Summa will own 69% of the shares after the transaction while Viking Venture retains 23%. The remaining 8% is owned by management and employees.

 

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Herkules IV acquires Beckmann AS

Herkules Fund IV has entered into an agreement with the Beckmann family and management to acquire Beckmann AS, Norway’s leading provider of school backpacks. Beckmann is known for its unique value, functional and ergonomic design offering.
Herkules Fund IV has entered into an agreement to acquire the majority of the shares of Beckmann AS. The Beckmann family will together with the management re-invest and receive a minority stake in the company. Closing of the transaction is expected to take place in August 2017.

Founded in 1947, Beckmann is a leading provider of school backpacks with products sold in Scandinavia, Europe and Asia. Beckmann has an 80% market share in the primary school backpack market in Norway, and has been growing internationally in recent years. The company is headquartered in Kristiansand, Norway, and had net sales of NOK 81.2 million and an EBITDA of NOK 15.5 million in 2016.

“I believe Herkules will be able to grow the company in a way that we will not be able to achieve on our own. Herkules’ level of professionalism and competence coupled with their experience from Asia and China is unparalleled to our”, says Jan Olav Beckmann, the majority owner.

“The brand has an exceptionally strong position in the Norwegian market and is growing 30% annually. We believe there is great potential to accelerate growth and achieve further international success together with the Beckmann family,” says Sverre Flåskjer, Managing Partner at Herkules Capital.

For further information about Beckmann AS, please visit www.beckmann.no

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Swander Pace Capital Sells Lavo to KIK Custom Products

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Swander Pace Capital Sells Lavo to KIK Custom Products

ONTARIO, CANADA (July 6, 2017) – Swander Pace Capital, a leading private equity firm specializing in consumer products companies, has sold Lavo Inc., a leading manufacturer and marketer of laundry detergent, household cleaners, fabric softeners and bleach in Canada, to KIK Custom Products Inc.

Lavo has been selling high-quality products for more than a century. The company’s brands include La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power and ABC.

“The strong heritage of these brands and world class capabilities served as the foundation of our growth strategy,” said Roger Dickhout, Chief Executive Officer of Lavo. “Our ability to leverage best practices from other Swander Pace companies, continue to build the company’s core competencies, capitalize on growth opportunities, and successfully integrate the Arctic Power and ABC brand acquisitions were critical drivers of value creation. We are pleased that KIK can help create future opportunities for the company.”

“We are grateful to the Lavo team and all of our employees for their hard work and contributions during our ownership,” said Andrew Richards, managing director of Swander Pace. “We look forward to watching the team continue to grow and flourish as part of the KIK organization.”

Sawaya Segalas & Co., LLC served as exclusive financial advisor to Lavo and Swander Pace Capital, and Stikeman Elliott LLP acted as legal counsel to Lavo and Swander Pace Capital on the transaction.

About Swander Pace Capital 

Swander Pace Capital (SPC) is a private equity firm that invests in companies that are integral to consumers’ lives. SPC’s consumer industry expertise informs the firm’s strategic approach and adds value through access to its proven SPC Playbook, senior team and extensive network. The firm partners with management teams to help build companies to their full potential. SPC invests in businesses across three domains of consumer lifestyles: Food & Beverage, Body & Wellness and Home & Family. With offices in San Francisco, New Jersey and Toronto, SPC has invested in more than 45 companies and raised cumulative equity commitments of approximately $1.8 billion since 1996. For more information, visit www.spcap.com.

About Lavo

Lavo is the leading independent manufacturer and marketer of laundry and cleaning products in Canada. Lavo distributes and markets under owned brands La Parisienne, Hertel, Springtime, Old Dutch, Arctic Power, and ABC. These brands carry a strong reputation among Canadian consumers, and are sold in grocery stores, pharmacies, mass retailers, and warehouse clubs. Lavo is also a leading private label laundry product supplier, and markets bulk bleach to the industrial sector.

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Gimv invests in Snack Connection, a leading nut supplier

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Gimv

Gimv invests in Snack Connection, a leading nut supplier

Today, Gimv is announcing its investment in Snack Connection (www.snack-connection.nl). This Dutch company is purchasing, processing, mixing and packaging nuts and similar products.

Established in 2010 by Managing Director Perry van Otterloo and CFO Rens van Oostrum, Snack Connection provides private label solutions for the European retail and B2B markets. Snack Connection has two modern production sites based in Giessen and Bergschenhoek, in the Netherlands, and employs over 100 people. It provides a solution to the growing demand for convenience and healthy food, thanks to its wide range of nuts and seeds. The company acts as a flexible partner, thinking along with retailers, from a value-added viewpoint. This approach leads to innovative packaging materials, tailor-made designs and joint management of the product offering.

Building on its unique position and strong customer base in the Netherlands, Snack Connection is aiming to continue its expansion across the European market in the coming years. This will happen by developing existing customer relationships as well as entering into new partnerships, both at home and abroad. Gimv’s expertise, that was built up at the occasion of previous investments in the food sector, is certainly of added value.

Perry van Otterloo, Managing Director of Snack Connection, on this partnership: “With Gimv by our side, we hope to become an even better partner for our customers and suppliers. We are relying on Gimv’s knowledge and network to become an active player on the European market. The nut market can look forward to increased interest, also due to its health benefits. In addition, we can accelerate our further plans.”

Arie Hooimeijer, Partner in Gimv’s Connected Consumer Team, adds: “Snack Connection is a unique organisation in an attractive and fast-growing segment. Together with Snack Connection’s founders, we are proud that Gimv can co-shape the future growth of the company. We will use the years of experience in previous partnerships with food companies, such as Vandemoortele and Greenyard, to further enhance Snack Connection’s growth and to further strengthen the customer relationships.”

One key outcome of this investment is Gimv’s acquisition of the current major shareholder Trophas’ share.

The transaction is subject to the customary closing conditions, including approval by the competition authorities. No further financial details of the transaction have been announced.

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Gimv invests in Arseus Medical, leading distributor of medical equipment and consumables

Gimv

06-07-2017 17:45

Gimv invests in Arseus Medical, leading distributor of medical equipment and consumables

Today, Gimv announced an investment of EUR 15 million in Arseus Medical (www.arseus-medical.be), distributor of equipment and consumables for the medical sector (hospitals, medical specialists, care homes) and supplier of associated services. Gimv takes a substantial interest in the company in addition to the entrepreneurs Cedric De Quinnemar and Jan Ponnet, who took over Arseus Medical in 2014 and who will also stay on board after this transaction. All parties will provide growth capital with the objective of allowing the firm to continue to grow at an accelerated pace in the coming years.

Under the auspices of the current management, the work in the past few years established a strong structure, clear segmentation and a number of expansions including 3 complementary takeovers. In the new partnership with Gimv, Cedric De Quinnemar (current CEO) and Jan Ponnet will continue to contribute to the further growth of the company as members of the Board of Directors. In addition, room will be created for the appointment of a new CEO with a strong MedTech-expertise, helping to lift the firm to the next level.

Arseus Medical NV

From its head office in Bornem  (Belgium),  Arseus is active in the following four market segments; ophthalmology (exclusive distribution of high-tech equipment to ophthalmologists), specialised medical equipment on an exclusive basis for numerous other specialisations (such as cardiology, gynaecology, laser surgery, intensive care units, neuro and vascular surgery, etc.), medical supplies (sale and rental of mobility articles, orthopaedic materials and ostomy and incontinence materials), and the provision of first line care (diagnostics, consumables and devices for general practitioners, rest homes and home care).

In each of these four market segments, the firm holds a leading position and has a strong basis to build on and to expand into adjacent markets. In 2016, Arseus Medical realised a turnover of EUR 30 million with 90 employees, half of whom hold commercial positions.

For the coming years, Arseus Medical has the ambition to grow both organically and by doing acquisitions, while capitalising on an increased demand for care from an ageing population and technological developments that will enable it to provide better care at a lower cost. The company also has the ambition to lead the consolidation in the Benelux of what has been a fragmented market until now. By providing this growth equity, all parties want to strengthen the company’s market position and  grow in each of the four segments. The further internationalisation of the firm is also a priority, with the Dutch market as primary focus. Gimv’s experience in MedTech and Health Care Services is a valuable addition to Arseus Medical, which feels its strategic plan will be bolstered by it.

Cedric De Quinnemar, CEO Arseus Medical, on this transaction: “This collaboration will enable to speed up the current growth trajectory and will also further establish the company as clear market leader. There are a number of possibilities in each of these segments which we can capitalise on more assertively with the new structure. These include, for example, the commercialisation of innovations and new care models, the takeover of interesting complementary companies and the expansion of our services. This will make us an even more valuable partner for our clients, suppliers and personnel.”

Dr. Peter Byloos, Partner within the Gimv Health & Care platform, adds: “The current Arseus Medical is an ideal platform for further acquisitions in a number of specialised sectors at home and abroad. The objective is to further integrate services and thus to create long-term value in a consolidating care sector. We are looking forward to realising this plan with the strong team of Arseus Medical in the coming years.”

In addition to Breath Therapeutics, ImCheck Therapeutics and MVZ Holding, this is the fourth investment by the Gimv Health & Care platform this year. Through the Gimv Health & Care Fund, its specialised team invests in mature health care companies as well as innovative concepts in the care sector. The fund’s current portfolio includes companies such as Almaviva Santé, Benedenti, Eurocept, Equipe Zorgbedrijven, MVZ Holding and Spineart. With the Arseus-partnership, the team continues to build a strong portfolio of growth companies in the healthcare sector in Belgium and neighbouring countries.

No further financial details about the transaction will be announced.

 

www.private-equitynews.com

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BlackFin Capital Partners announces the acquisition of Buckaroo

 

Blackfin

BlackFin Capital Partners announces the acquisition of Buckaroo

BlackFin Capital Partners has entered into an agreement with Intrum Justitia to acquire 100% of the shares in Buckaroo BV. The acquisition will be subject to customary closing conditions and regulatory approval, with an expected closing during the third quarter of 2017.

Buckaroo is a leading and multiple award winning Dutch payment service provider servicing over 5000 merchants. Buckaroo has grown into the absolute specialist in payment solutions in recent years. Many corporates and medium-sized companies use Buckaroo to facilitate their growth in business in ecommerce, mobile business or offline business.

BlackFin, a private equity firm specialized in the financial services & fintech sector, is deeply committed to invest in Buckaroo in order to accelerate the company’s growth strategy together with the management team. This will enable Buckaroo to capitalize on the fast growing e-commerce segment and the rapidly evolving payment space.

“We are pleased with BlackFin as our new shareholder. With their expertise and track record in accelerating growth we will embark on an ambitious growth strategy for Buckaroo and expand the service offering to clients.” Andre Valkenburg, CEO Buckaroo

“This investment marks our strong interest in the attractive payments space in the Netherlands. We are looking forward to working together with the management team of Buckaroo and support them in realizing their exciting growth path.” Eric May, Founding Partner of BlackFin

BlackFin’s investment in Buckaroo also marks BlackFin’s first investment in the Netherlands led by the Benelux team of BlackFin. During the deal, BlackFin Capital was advised by Kempen & Co, Loyens & Loeff, Regulation Partners and Ernst & Young.

About Buckaroo

Buckaroo

Founded in 2005, Buckaroo is a leading provider of payment solutions in the Netherlands, specialised in offering next generation payment gateways, subscription services and credit management for merchants. It services over 5000 customers and has over 200 partners. Buckaroo has been recognised as Best Payment Provider in the Netherlands by Emerce Top 100 for the last four years.

https://www.buckaroo-payments.com

 

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