Category Archives: News

Senior Life Sciences Executives Launch Enovo Life Sciences, in Partnership with Warburg Pincus

Warburg Pincus logo

New York & Belgium – October 7, 2024 – Life sciences industry veterans, Mario Philips and Roel Gordijn, today announced the launch of Enovo Life Sciences (“Enovo”), in partnership with Warburg Pincus, a leading global growth investor. Enovo will focus on identifying and acquiring one or more companies to build a market-leading life sciences platform serving the biologics and advanced therapies end markets. Enovo is backed by Warburg Pincus, which is currently investing out of its latest $17.3 billion global flagship fund, Warburg Pincus Global Growth 14 (“WP GG 14”).

Enovo is led by Mario Philips and his longtime colleague, Roel Gordijn. Mr. Philips and Mr. Gordijn collectively have over 50 years of leadership experience in the life sciences sector, including in vaccine and antibody manufacturing and, more recently, in the rapidly growing field of Advanced Therapy Medicinal Products. They played key roles in Warburg Pincus’ investment in Polyplus, a leading provider of upstream solutions for cell and gene therapies, where they oversaw significant organic growth and strategic acquisitions until its ultimate €2.4 billion sale to Sartorius Stedim Biotech last year.

Prior to his role as CEO of Polyplus, Mr. Philips, based in Belgium, held executive positions at Danaher/Pall Biotech, a leading life sciences company, and ATMI Life Sciences, a global technology company and leader in single-use bioprocessing solutions. Prior to his role as Chief Commercial Officer at Polyplus, Mr. Gordijn, based in the Netherlands, held a variety of executive roles at Danaher/Pall Biotech, ATMI Life Sciences, and Lonza.

Mario Philips, CEO, said, “Enovo Life Sciences will focus on acquiring one or more companies with proven capabilities and compelling growth potential with the aim of building a scaled, market-leading life sciences business. This platform will provide companies with the capital necessary to enable innovation that meets the needs of customers and patients, with the support of Warburg Pincus and its global network. We are well-positioned to invest in and develop a sizable platform where the latest technology and a sharp focus on value creation can unlock further growth.”

Roel Gordijn added, “We are thrilled at the prospect of building Enovo Life Sciences and continuing the success story we’ve had previously with Warburg Pincus. This investment will allow us to pursue partnerships with businesses with truly differentiated offerings and expertise. We are excited to partner with companies across the U.S., Europe and beyond, that are leaders in their respective fields.”

“The launch of this platform underscores our commitment to working with management teams and companies that support the delivery of innovative life sciences products and services worldwide. We strongly believe in the immense opportunity and the impact that biologics and advanced therapies can have on patients,” said T. J. Carella, Managing Director, Head of Healthcare, Warburg Pincus. “Mario and Roel have an unparalleled track record of leading and growing global businesses in life sciences and are the ideal executives to launch and build a platform that supports the development and delivery of life-changing therapies,” added Ruoxi Chen, Managing Director, Warburg Pincus.

Enovo will be supported by Warburg Pincus teams in London, New York and other global offices. The launch of Enovo follows Warburg Pincus’ announcement of Jake Strauss leading the healthcare investing practice in Europe, highlighting the firm’s commitment to healthcare investing at a global scale.

Since inception, Warburg Pincus has invested over $18 billion in more than 180 healthcare companies, including Summit Health, Modernizing Medicine, Ensemble Healthcare Partners, and Global Healthcare Exchange, and has been an active investor in life sciences, with investments in Norstella, PolyPlus, Simtra, Sotera Health, and Bausch + Lomb, among others.

About Warburg Pincus

Warburg Pincus LLC is a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.

Contact

info@enovolifesciences.com

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Bluegem Capital Partners and AREV to acquire Pinard Group from IK Partners

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IK Partners

Bluegem Capital Partners (“Bluegem”), the value-oriented consumer staples private equity fund, and AREV today announce that they have completed the joint acquisition of Pinard Group (“Pinard” or “the Group”), a producer of high-end packaging solutions for the Beauty & Personal care (“BPC”) and Pharmaceutical industries. Bluegem and AREV are acquiring their respective stakes from the Pinard Management Team and IK VIII Fund, a fund managed by IK Partners (“IK”).

Bluegem and AREV will be co-majority shareholders, owning the company alongside the Pinard Management Team and the founding family members who are reinvesting.

Pinard Group specialises in the design and manufacture of packaging solutions for prestige and luxury brands in the BPC space through its Pinard Beauty Pack (PBP) subsidiary and for pharmaceutical customers through its Lablabo subsidiary, the inventor of the bag-in-bottle airless technology.

Since IK’s acquisition of Pinard in July 2017, the company launched and delivered several successful initiatives including: the strengthening of the Group’s management with the recruitment of a CFO and several key managers; continued investment to increase capacity, including eco-friendly packaging solutions; and the accretive acquisition of Lablabo. The collaboration between IK and the Pinard Management Team delivered robust organic growth in the ownership period, as well as the expansion into the Healthcare sector.

Bluegem and AREV’s strategy is to capitalise on the technical know-how and strong IP of the Group to build a high-end supplier of fully circular plastic packaging solutions for the BPC and Pharmaceutical sectors. PBP is a Platinum EcoVadis manufacturer of sustainable plastic packaging solutions ranked within the Top 1% globally. As plastics become increasingly circular, with three major plastic recycling facilities being built in France, the Group will be ideally placed to supply its customers with high-end sustainable plastic solutions.

Thomas Pinard, CEO of Pinard, commented: “We are looking forward to working with our new shareholders as we consolidate our position as a leading provider of high-end solutions to the world’s most prestigious and most dynamic brands, building on our unique combination of customer-focus, operating excellence, global reach, technical know-how, and passion. We would like to thank the team at IK for their continued support over the past seven years.”

Mathieu Develay, Partner at Bluegem, commented: “We are delighted to invest in Pinard Group alongside its founding family, its management team and our co-controlling partner AREV. We have closely followed the progress of the company in recent years and have been very impressed by the successes achieved by its management team. Pinard Group is a unique player in the packaging industry, with market-leading positions in prestige Beauty and Pharmaceuticals, thanks to over 50 years of industrial knowhow and circular plastic innovations. We are looking forward to supporting an accelerated growth strategy, both organically and through acquisitions, in what is a highly fragmented market.”

Emilio Di Spiezio Sardo, Founding Partner at Bluegem commented: “Pinard is a great example of the Bluegem strategy to invest earlier in the entire value chain within the non-discretionary consumer staple space. With the Consumer sector accounting for over 50% of global GDP, we see a vast opportunity to make investments which are underpinned by solid fundamentals (strong R&D and IP), structural tailwinds (fully circular plastic solutions and nearshoring of high-end manufacturing) and have the ability to perform consistently through the cycle.”

Xavier Geismar, Co-Founder of Arev Partners added: “We are excited about our partnership with Thomas and Pierre-Olivier Pinard and the management team, and we have high ambitions for the company. We are very impressed with Pinard Group’s strong market positioning based on its superior customer orientation and operational excellence, which is reflected in the company’s growth and performance over the years. We will work with the management team to continue strengthening Pinard’s ESG innovation capabilities, accelerating expansion, and by pursuing a synergistic buy-and-build strategy to tap into adjacent market segments and to broaden the product portfolio.”

Julien Lammoglia, Co-Founder of Arev Partners declared: “The acquisition of Pinard Group is AREV’s third transaction in France and marks another milestone in the development of the fund’s strategy to build a concentrated portfolio of high-quality assets operating in markets with attractive fundamentals, strong management teams and where we identify significant opportunities for AREV to support and accelerate growth, organically and through buy and build. The Group is positioned in the growing and resilient end markets of prestige cosmetics and pharmaceuticals and is a high-end packaging innovation leader. Pinard Group is notably an ESG front-runner in the packaging space and this transaction is a great example of AREV’s objective to invest in companies that have a positive impact on society.”

Dan Soudry, Partner at IK Partners and Advisor to IK VIII Fund, commented: “We are pleased with the progress the business has made in the past seven years, overcoming market challenges to deliver robust growth, while the acquisition of Lablabo has also allowed for the diversification of the product range. We wish the team at Pinard as well as their new owners, the very best of luck in the next stage of its development.”

About Pinard Group

Founded in 1970 in France, Pinard Group specialises in the design and manufacture of packaging solutions for prestige and luxury brands in the BPC space through Pinard Beauty Pack (PBP) subsidiary and for pharmaceutical customers through its Lablabo subsidiary, the inventor of the bag-in-bottle airless technology, acquired in 2019. The Group addresses prestige and masstige brands, while serving a long-standing clientele. Distribution is primarily focused in France (60%) where most trades are, followed by the Rest of Europe (30%) and US (10%).

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About Bluegem Capital Partners LLP

Bluegem is a pan-European specialist private equity firm investing in value-oriented consumer staple businesses across the value chain (B2C; B2B2C; B2B) underpinned by non-discretionary demand and supported by megatrend tailwinds. The Bluegem Investment Team work alongside experienced Portfolio Management and Functional Experts, to deploy a proven toolkit for accelerating value creation. The Bluegem value acceleration playbook is underpinned by data analytics and includes, among other things, 360-degree digitalisation of the businesses (including the use of artificial intelligence), international expansion and product innovation. With a track record of investing across Europe through different economic cycles, Bluegem focus on businesses with characteristics of consumable products; low ticket but premium products; non commodity items; with repeat purchase patterns within seven distinct segments: Beauty & Personal Care, Home Care, Baby Care, Pet Care, Food & Beverage, Consumer Health and Enthusiast Products. For more information, visit: bluegemcp.com

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About AREV

AREV I SCA, SICAV-FIAR invests in European private companies across the Healthcare, Digital & Technology, BtoB Services & Products, and Consumer sectors. We target businesses that we can significantly transform or scale, partnering with ambitious entrepreneurs and management teams. Our approach combines strategic, financial and operational expertise, in conjunction with our wide-reaching industry network. Founded by two experienced private equity executives and with more than €300m under management, AREV I seeks to deploy capital in companies that have an EBITDA comprised between €5m to €15m, with equity tickets ranging from €25m to €75m. For more information, visit: arevpartners.com

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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 €17 billion of capital and invested in over 190 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 ikpartners.com

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CDPQ and Nuveen Green Capital launch USD 600-million integrated financing program for sustainable commercial real estate development

Cdpq
  • Innovative program will combine senior and Commercial Property Assessed Clean Energy (C-PACE) financing, providing a one-stop shop for bridge and construction loans to meet the growing demand for sustainable commercial real estate financing
  • The program will support cost-effective energy efficiency, water conservation, renewable energy and resiliency improvements tied to new or existing commercial real estate (CRE) developments with the aim of reducing the environmental impact and improving sustainability of the built environment

CDPQ, a global investment group, and Nuveen Green Capital (NGC), a leader in sustainable commercial real estate financing solutions, announced today the launch of a USD 600‑million (CAD 830‑million) integrated sustainable commercial real estate financing program. This innovative offering combines Commercial Property Assessed Clean Energy (C‑PACE) financing and senior bridge and construction financing aimed at the U.S. commercial real estate (CRE) market.

The competitive, single-source program will provide a substantial source of flexible, committed, and discretionary capital for new large-scale construction and bridge financings across key asset classes and markets. The program will offer a turnkey solution while also driving the adoption of sustainability measures in commercial buildings. As a leading provider of C‑PACE across the United States, NGC will act as the primary sourcing agent for the integrated financing program.

“Developing greener buildings and reducing the carbon footprint of our built environment can create significant value. Through this distinctive financing program, we are able to accelerate the implementation of environmentally sound measures for commercial real estate owners and developers,” said Marc Cormier, Executive Vice-President and Head of Fixed Income at CDPQ. “We are excited to combine our long-term capital with Nuveen Green Capital’s extensive expertise to offer a sustainable integrated financing solution that fully aligns with CDPQ’s climate strategy and commitment to decarbonize the real economy.”

“CDPQ’s strong commitment to sustainability and track record of innovation align very well with our mission,” said Jessica Bailey, President and CEO, Nuveen Green Capital. “This program represents another exciting milestone for the C‑PACE industry and Nuveen Green Capital. We are thrilled to be working with CDPQ to build this one-stop shop for bridge and construction loans to meet the growing need for commercial real estate financing.”

Aligned with the U.N. Sustainable Development Goals, C‑PACE is a U.S. commercial real estate financing initiative to promote a cleaner and safer built environment. In the 40 states where it is offered, commercial property owners can obtain accretive, long-term financing for energy efficiency, renewable energy, water conservation and climate resiliency measures for new development, renovation, or post-construction recapitalization projects.

Since its founders launched the first successful C-PACE financing program in 2014, NGC has been at the forefront of establishing the asset class. Today, the U.S. C‑PACE market surpasses over USD 7 billion in financing activity across over 2,300 projects1. In 2023, NGC provided 41% of the total C-PACE originations volume2.

1Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data.
2Based on C-PACE Alliance’s 2023 National C-PACE Program Volume Data and NGC’s total origination’s volume for 2023.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

ABOUT NUVEEN GREEN CAPITAL

Nuveen Green Capital is a national leader in sustainable commercial real estate financing solutions and an affiliate of Nuveen, the investment manager of TIAA responsible for over $1 trillion in assets under management. Established in 2015 by the C-PACE industry’s founders and standard-setters, Nuveen Green Capital is a private capital provider dedicated to making sustainability a smart financial decision for commercial real estate owners who seek to improve the energy, water and resiliency performance of their property. For more information, visit www.nuveen.com/greencapital.

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For more information

  • Media contact+1 514 847-5493 (Québec/Canada)+1 212 596 6314 (International)medias@cdpq.com
  • JAMIE MCCORRY
    Vice President, Marketing & Communications
    NUVEEN GREEN CAPITAL
    +1 959 261-8689
    jamie.mccorry@nuveen.com

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F2i and Finavias sell their entire shareholding in 2i Rete Gas, Italy’s second-largest natural gas distribution operator, to Italgas

Ardian

F2i and Finavias have signed an agreement for the sale of 2i Rete Gas, Italy’s second-largest natural gas distribution operator, to Italgas. F2i currently holds 63.9% of 2i Rete Gas and Finavias, a corporate vehicle owned by APG Asset Management and funds managed by Ardian, holds the remaining 36.1%.

This agreement follows an exclusivity negotiation period granted to Italgas by the sellers last May. The transfer of shares is subject to approval by the relevant authorities and is expected to take place in the first part of 2025.

The agreement assigns 2i Rete Gas an equity value of EUR 2.06 billion as at 31 December 2023.

Under F2i’s leadership and with the full support of APG and Ardian, the company has embarked on a significant growth trajectory expanding its number of users from 1.9 million to 4.9 million, and currently manages a network exceeding 72 thousand kilometers, with over 2,200 concessions operated by a workforce of 2,200 individuals. This expansion was achieved through strategic acquisitions, development of the networks operated, and successful participation in the few tenders offered for concession renewals.

“The sale of 2i Rete Gas marks the conclusion of an important journey in which F2i has played a leading role. 2i Rete Gas is now established as a major national operator that is both efficient in scale and technological expertise and has transformed the ownership structure of a historically fragmented sector. The efficiency achieved by 2i Rete Gas has contributed to a gradual reduction in gas distribution tariffs, benefiting the entire national community. The merger with Italgas completes this journey. F2i and its investors thank the management team and everyone at 2i Rete Gas who, over the years, have contributed to the company’s industrial growth, achieving high standards of service and safety.” Renato Ravanelli, CEO of F2I SGR

“We are proud to have been part of 2i Rete Gas’s history since the beginning, and to have contributed to the growth and consolidation of the company into a national champion in energy infrastructure. In addition to this, we are pleased to have contributed, since 2018 alongside APG, to positioning 2i Rete Gas as a key player in the path towards Italy’s energy transition. We thank F2i and the management team for their mutual support during these years and wish Italgas every success for the future.” Rosario Mazza, Senior Managing Director and Head of Infrastructure Italy, Ardian

Cleary Gottlieb Steen & Hamilton acted as legal advisor to F2i and Finavias and Studio Di Tanno as fiscal advisor. Studio Chiomenti assisted Finavias as legal advisor.

ABOUT F2I SGR

F2i SGR is Italy’s largest independent infrastructure fund manager, with assets under management, between equity and debt, of approximately EUR 8.2 billion. The companies in F2i’s network make up Italy’s main infrastructure platform, spanning six key sectors of the national economy such as transport and logistics, energy for transition, circular economy, distribution networks, telecommunications networks and services, and social-healthcare infrastructure. Led by its CEO Renato Ravanelli, F2i, through its subsidiaries, has about 24,000 employees whose work allows millions of people to use services and infrastructure that are essential for daily life. F2i SGR’s key shareholders include financial institutions, including banking foundations, domestic and foreign social security and pension funds, domestic and international asset managers and sovereign wealth funds. The funds managed by F2i SGR are subscribed by leading Italian and foreign institutions. F2i participates in the United Nations Global Compact and adheres to its approach based on responsible business principles.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $169bn of assets on behalf of more than 1,680 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 majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,050+ 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 APG

APG Group is the world’s largest independent pension fund manager with pension assets of c.€569 billion (as of December 2023) representing 4.6 million participants in the Netherlands, with main offices in Amsterdam, New York, and Hong Kong.
On behalf of its clients (all of which are pension funds), APG has been an active infrastructure investor since 2004, investing a total of c.€27 billion to date. APG’s investments include assets within transport infrastructure, energy, utilities, telecommunications and social.

Media contacts

Ardian

HEADLAND

ardian@headlandconsultancy.com 

F2I SGR

Laura Sisti

Laura.sisti@axel-comm.it+39 347 4282170

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Accent Equity-owned TSG acquires AF Shipping, expanding presence in northern Sweden

Accent Equity

  • ThorSvecon Group (TSG) expands into northern Sweden with the acquisition of AF Shipping, based in Umeå
  • This acquisition allows TSG Global Forwarding to strengthen its market position along Sweden’s east coast, offering a comprehensive product portfolio from Oskarshamn in the south to Skellefteå in the north
  • AF Shipping’s founder has re-invested alongside Accent Equity and TSG management

TSG Global Forwarding, part of TSG, has expanded its operations to northern Sweden through the acquisition of AF Shipping, a leading provider of ship and port agency services based in Umeå. Founded in 2002, AF Shipping specializes in ship agency, port agency, and freight forwarding services, with a strong presence in Umeå, Skellefteå, and other key northern Swedish ports.

“The acquisition of AF Shipping is a strategic step in our plan to reinforce our presence in northern Sweden. With AF Shipping now part of TSG, we gain a local foothold in the region’s major ports, enabling us to offer our full range of services, from Oskarshamn to Skellefteå,” said Daniel Berglind, Head of TSG Global Forwarding.

 

Fredrik Lyrenäs, CEO and co-founder of AF Shipping, expressed enthusiasm about joining the TSG Group: “Becoming part of TSG is an exciting milestone for us. We’re now aligned with a company deeply committed to providing locally rooted logistics and transport solutions in a global market. This partnership will allow us to offer our existing clients an enhanced and broader service offering. TSG is the perfect fit for us, as we share a strong entrepreneurial spirit and a customer-first approach.”

 

Looking ahead, Daniel Berglind sees significant opportunities for continued growth: “There’s great potential as we move forward, both through organic growth and strategic acquisitions. This acquisition marks another step in our commitment to expanding our business and delivering enhanced value to our customers.”

For more information, please contact:

Mikael Strand, Associate Partner of Accent Equity, +46 70 542 50 01,
mikael.strand@accentequity.se

Eric Hjalmarsson, CEO ThorSvecon Group, +46 70 331 71 22,
eric.hjalmarsson@tsg.se

Daniel Berglind, Head of TSG Global Forwarding, +46 70 591 41 65,
daniel.berglind@tsg.se

About ThorSvecon Group:
ThorSvecon Group is a logistics company offering door to door sustainable solutions integrating short sea liner services, terminals, warehousing, forwarding and agency services. The group’s short sea liner service is calling ports in Sweden, UK, Netherlands, and Belgium. In the UK, the group operates a port terminal in the port of Hull.
www.tsg.se

About AF Shipping:
AF Shipping was established in 2002 and is based in Umeå. Offered services range from shipping agency and port forwarding to complete logistic solutions including storage handling and land transportations for most type of goods including bulk cargo, general cargo, forest products, and heavy-lift projects. The company is primarily active in the ports of Umeå and Skellefteå.
www.afshipping.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
Follow Accent Equity on LinkedIn

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Kerv announces strategic acquisition of Microsoft Dynamics consultancy, Inciper

Bridgepoint
Today, Bridgepoint portfolio company Kerv has announced the acquisition of Inciper – a consultancy focused on the implementation and support of Microsoft Business Applications and Data Analytics with particularly specialisms in Dynamics for Finance & Operations, the large-scale Enterprise Resource Planning (ERP) platform. The acquisition brings with it Inciper’s 75 expert practitioners and the combined operations will create in Kerv a unique capability – expertise across the entire range of Microsoft Dynamics 365 business applications and the ability to transform organisations across all aspects of their operations – from mid-market to the largest enterprises and Public Sector organisations.

The Inciper team will join Kerv Digital, the Group’s Microsoft-aligned Digital Transformation practice, and will continue to be led by their founders, Mark Roberts and Dave Sanderson.

Speaking about the acquisition and the Inciper team, Kerv’s executive chair Alastair Mills said “We are delighted to welcome the Inciper team to Kerv. Mark and Dave have built a fantastic business that is well known for their leading position in the Microsoft Dynamics F&O market. We know there is a strong cultural alignment between the teams and together, we’ll focus on our achieving our mission of helping organisations harness the power of technology for the good of our people, our customers, our society and our planet.”

Mark Roberts, Inciper’s co-founder, said: “We are incredibly proud of what Inciper has become over the past eight years and, from the very first conversation with the Kerv team, we recognised that we’d found a kindred spirit, with such close alignment in many areas including the importance of customer and employee experience.  That, combined with the excellent capability fit across the two companies, means we are really excited about what the future holds for Inciper within the Kerv Group.”

Robin Lawson, Partner at Bridgepoint Development Capital, said: “Inciper is a highly complementary first acquisition for Kerv since our investment earlier in 2024, enhancing its specialist capabilities within the high-growth dynamics and data space. Inciper’s expertise will allow Kerv to continue winning large and complex transformations, further positioning the business as a leading digital transformation partner in the UK.”

Inciper serves mid-market, enterprise and large public sector organisations including The Welsh Government, Marston Holdings and M&S, and brings additional revenues in excess of £10m to Kerv, together with an organic growth rate of 20%. Inciper is a highly accredited, directly managed partner of Microsoft, and is widely recognised for its expertise in the Microsoft Dynamics 365 CE & F&O, Power Platform and data platform & analytics capabilities.

Funding was provided by Kerv’s existing investment partner Bridgepoint, via its Bridgepoint Development Capital franchise, with additional support from existing investor LDC and facilities from Apera.

The transaction closed on 30 September 2024.

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CDPQ increases its stake in Saputo Inc.

Cdpq

CDPQ, a global investment group, today announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), a world leader in the processing, production, marketing and distribution of dairy products.

CDPQ’s stake in the company now totals approximatively 4.5%, following the acquisition of 13.5 million shares at a price of $27.96 per share. CDPQ’s first stake in Saputo dates back to 1997.

Founded in Montréal in 1954, Saputo is now one of the top ten dairy processors in the world. The Québec company produces and distributes a wide range of dairy products in Canada, Australia and Argentina, among other countries. Saputo is also one of the three largest cheese manufacturers in the United States, and the largest manufacturer of branded cheese and dairy spreads in the United Kingdom.

“CDPQ is proud to continue supporting Saputo, a leading Québec company, by increasing its stake in this world leader in dairy processing,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “We’ve been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Québec.”

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

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819 Capital Partners announces acquisition of Travelhome

819 Capital Partners

Deventer, October 3, 2024 – 819 Capital Partners has acquired Travelhome, the Dutch market leader in global motorhome travel. Together with general director Perry van de Wiel, we have acquired Travelhome from ANWB through a management buy-out.

 

Travelhome has been part of ANWB since 2008. Travelhome will continue as the exclusive partner of ANWB for developing and providing motorhome vacations, ensuring the continuity and quality of its offerings and services.

Following our recent acquisition of ANWB Reizen/Fox Reizen, our add-on acquisition of Travelhome is a logical step. We can actively support accelerating and executing Travelhome’s European expansion strategy.

Perry van de Wiel, director of Travelhome, stated: “We are extremely proud of this next step in our company’s 38-year history. ANWB has contributed greatly to our success over the past 16 years; it has been a wonderful journey together. This management buy-out opens new opportunities for us, particularly through our collaboration with 819 Capital Partners, allowing us to be part of a larger travel group once again, Travel C Group. Travelhome will become part of the same group as Fox Reizen. The collaboration between these companies offers significant benefits for customers, including a broader range of travel options.”

Sven Kempers, director of 819 Capital Partners, added: “Travelhome has a long history of strong performance and is the market leader in the Netherlands for global motorhome trips. Our acquisition of Travelhome is a logical follow-up to our recent acquisition of Fox Reizen. With this, we strengthen the travel group within 819 Private Equity Fund.”

We have acquired Travelhome with 819 Private Equity Fund I.

Other publications: anwb.nl

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Apollo to Provide €1 Billion Capital Solution to Vonovia in Third Transaction

Apollo logo

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that it has entered into an agreement for Apollo affiliates and other long term investors to provide c. €1 billion to acquire a minority stake in one of Vonovia’s affiliates. This commitment follows two previous €1 billion transactions between Vonovia and Apollo in 2023, related to Vonovia’s real estate portfolios in Southwest Germany and Northern Germany. The latest agreement brings Apollo affiliates and funds total arranged commitments to Vonovia entities to €3 billion.

Apollo Partner Jamshid Ehsani said, “Apollo is very pleased to further expand our partnership with Vonovia and assist Germany’s largest residential real estate company in reaching its strategic objectives. It is yet another example of Apollo’s ability to commit its capital resources and provide bespoke, scaled solutions to our closest corporate relationships around the world. This investment marks our third transaction with Vonovia and underscores Apollo’s role as an ongoing trusted partner to some of the largest global corporations.”

Since 2020, under its High Grade Capital Solutions strategy Apollo has originated nearly $100 billion of bespoke capital solutions for leading companies such as Intel, Sony, Air France, AB InBev and more. Apollo believes it is uniquely positioned to serve the needs of large high quality corporates and retirement services companies, given the firm’s structuring, investment and syndication capabilities and scaled capital base.

Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP are serving as legal counsel to Apollo, while Apollo Capital Solution is providing structuring and syndication services in connection with the transaction. Deutsche Bank is acting as exclusive financial advisor to Vonovia, and Freshfields Bruckhaus Deringer is serving as legal counsel to Vonovia.

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 to private equity with a focus on three investing strategies: yield, hybrid, and 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 June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.

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

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Tikehau Capital and Cresco Real Estate acquire 30,000 square metre office property in Berlin

Tikehau

Berlin, Frankfurt, 2 October 2024 – Tikehau Capital, the global alternative asset management group, together with Cresco Real Estate (Cresco), an owner-managed real estate investor and developer, has acquired a 30,000 square-metre office property in Berlin-Weissensee from a private individual in an off-market transaction.

The property, which was built in 1998, is fully let to the German Federal Institute for Real Estate (BImA). The location at DGZ-Ring 3-14 in Berlin-Weissensee is a well-established administrative area with good public transport connections. The joint venture plans to invest in implementing sustainability measures in the existing property, aiming to be in line with the requirements of the EU taxonomy. This initiative aims to enhance the energy efficiency of the asset to meet advanced sustainability standards.

Steffen Meinshausen, Head of Real Estate Germany at Tikehau Capital, comments: “This acquisition signals Tikehau Capital’s commitment to sustainable urban improvement and is an important milestone for Tikehau Capital’s German real estate business. It represents the first German transaction in the second generation of our pan-European value-add real estate strategy, which is designed to pursue long-term ESG objectives. In Cresco, we have a strong partner by our side, bringing extensive experience in the sustainable repositioning of existing real estate.”

Daniel Schuldig, Co-Founding Partner of Cresco, says: “We are actively using the current market phase for acquisitions in Germany. We see high potential in established office properties in well-connected areas of A and B cities, where we can sustainably reposition properties through asset management and development measures. We look forward to unlocking this potential in our first joint venture deal with Tikehau Capital.” Tikehau Capital and Cresco Real Estate Management were legally advised by Dechert, Hogan Lovells and Goodwin Procter during the transaction. ***

Press Contacts:

Tikehau Capital – Valérie Sueur – +33 1 53 59 03 64 UK –

Prosek Partners: Philip Walters – +44 (0)7773331589 press@tikehaucapital.com

Cresco Real Estate: Volker Binnenböse – Senior Advisor Feldhoff & Cie. GmbH +49 179 701 58 35 vb@feldhoff-cie.de

Shareholder and investor contacts (Tikehau Capital) Louis Igonet – +33 1 40 06 11 11 Théodora Xu – +33 1 40 06 18 56 shareholders@tikehaucapital.com

About Tikehau Capital: Tikehau Capital is a global alternative asset management Group with €46.1 billion of assets under management (at 30 June 2024). Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multiasset and special opportunities strategies. Tikehau Capital is a founder-led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders’ equity at 30 June 2024), the Group invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 763 employees (at 30 June 2024) across its 17 offices (at 31 July 2024) in Europe, the Middle East, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP). For more information, please visit: www.tikehaucapital.com.

About Cresco Real Estate: Cresco Real Estate (“Cresco”) is a real estate investor, developer and asset manager active since 2006 with extensive experience in the office, residential and hotel asset classes. The group employs 65 people in offices in Berlin and Luxembourg and manages investment assets of approximately €2.0 billion. Cresco has developed a large number of projects in Germany, including the landmark hotel Soho House Berlin. For more information, please visit: www.crescore.de 2

Disclaimer

The strategy mentioned in this press release is reserved for professional investors and is managed by Tikehau Investment Management SAS, a portfolio management company approved by the AMF since 19/01/ 2007 under the number GP-07000006. Non-contractual document intended exclusively for journalists and media professionals. The information is provided for the sole purpose of enabling them to have an overview of the transactions, whatever the use they make of it, which is exclusively a matter of their editorial independence, for which Tikehau Capital declines all responsibility. This document does not constitute an offer to sell securities or investment advisory services. This document contains only general information and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Owing to various risks and uncertainties actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. Tikehau Capital accepts no liability, direct or indirect, arising from the information contained in this document. Tikehau Capital shall not be liable for any decision taken on the basis of any information contained in this document. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relate to Tikehau Capital North America

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