Category Archives: News

MONROE CAPITAL closes $1.33 billion PRIVATE CREDIT FUND III

Monroe Capital

Chicago, IL, November 27, 2018

Monroe Capital LLC (“Monroe”) today announced the final close of its 2018 Monroe Capital Private Credit Fund III (“Fund”) at $1.33 billion of limited partner commitments with over 100 investors in eight countries, eclipsing the Fund target of $800 million. When combined with target Fund leverage, the Fund will have more than $2.5 billion of buying power or capital available for investment.

The Fund will invest in private credit transactions originated and underwritten by Monroe.  The investment strategy is focused primarily on senior secured loans and unitranche loans to private equity sponsored, independent sponsored, and non-sponsored middle market companies located throughout the U.S and Canada. The Fund is Monroe’s 17th investment vehicle since its founding in 2004. The Fund received commitments from over 50 new institutional investors. The Fund investors are located throughout the U.S., Canada, Europe, Australia, South America, Asia and the Middle East, and include leading public and private pension plans, insurance companies, universities, endowments, foundations, religious organizations, hospitals, non-profits, sovereign wealth funds, family offices and other institutional investors. In addition to the limited partner commitments, the Fund has secured term credit facilities to complement its available capital.

According to Ted Koenig, President and CEO of Monroe, “Private credit is an appealing area for institutional investors due to the ability to generate consistent absolute returns in a low yield environment. Investors have many choices in this space, many of which are recently created firms.  We are pleased and proud that the institutional investor and limited partner community has come to appreciate the differentiated returns and consistent risk adjusted returns that Monroe has been able to generate every year over the last 14-year period, regardless of the business cycle or economic climate. This is a testament to our organization and our people.”

Monroe was founded in 2004 and has been a consistent and reliable provider of transactional debt financing both pre and post credit crisis for private equity sponsored and non-sponsored deals. The firm has over 100 employees, inclusive of an investment team of approximately 55 professionals with an average of 16 years of credit, private equity, and investment experience.  Monroe has a national transaction sourcing network of seven offices located throughout the U.S. and a proven investment discipline and strategy that has been tested over multiple economic cycles.

About Monroe Capital
Monroe Capital LLC (“Monroe”) is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Monroe’s middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors. Investment types include cash flow, enterprise value and asset-based loans; unitranche financings; and equity co-investments. Monroe is committed to being a value-added and user-friendly partner to business owners, senior management, and private equity and independent sponsors. The firm is headquartered in Chicago and maintains offices in Atlanta, Boston, Dallas, Los Angeles, New York, and San Francisco.

Monroe has been recognized by Creditflux as the 2018 Best US Direct Lending Fund, Private Debt Investor as the 2017 Lower Mid-Market Lender of the Year; Global M&A Network as the 2017 Small Middle Markets Lender of the Year; M&A Advisor as the 2016 Lender Firm of the Year; and the U.S. Small Business Administration as the 2015 Small Business Investment Company (SBIC) of the Year. For more information, please visit www.monroecap.com.

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Leadec sells Veltec to Plant Systems & Services PSS GmbH

Triton

Stuttgart/Niedernberg (Germany), 27 November 2018 – Leadec Group, a Triton Fund IV company, has signed an agreement to sell Veltec Group to Plant Systems & Services PSS GmbH. Leadec will focus completely on its strategic growth targets in the manufacturing industry, while Veltec will strengthen its position in the process industry with this strategic partner. Completion is subject to regulatory approval. The purchase price has not been disclosed.

About Leadec
Leadec is the leading provider of technical services for the automotive and manufacturing industries. The company, which is headquartered in Stuttgart, employs almost 20,000 people worldwide. In 2017 Leadec earned sales of around EUR 900 million. For more than 50 years, Leadec has been supporting its customers along the entire production supply chain. The service provider is based at more than 200 locations, often directly at the customers’ plants and facilities.

Leadec’s global services comprise: Install (installation and automation, disassembly and reassembly), Maintain (production equipment maintenance and technical cleaning), Support (IFM/TFM and internal logistics) and Digitize&Optimize (process engineering and digital services) as well as other local services.

For more information about Leadec go to: www.leadec-services.com

About Veltec
Veltec is a leading European provider of technical maintenance services for the process and power plant industries, focusing on customers in Central and Northern Europe. Veltec currently has 9 branches and the Veltec service team supports customers in the process industries oil and gas, chemicals, life sciences, raw materials and power plants on site at 35 additional sites.

For more information about Veltec go to: www.veltec-services.com

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 36 companies currently in Triton’s portfolio have combined sales of around €12,7 billion and around 82,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For further information: www.triton-partners.com

Press Contacts:

Triton
Marcus Brans
Phone: +49 69 921 02204

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Emera to Sell New England Gas-Fired Generation Facilities to The Carlyle Group for US$590 Million

Carlyle

  • Proceeds from the sale will be used to reduce Emera corporate level debt and support Emera’s capital investment opportunities within its regulated utility businesses
  • Increases Carlyle’s New England power generation portfolio by 1,100 megawatts
  • Transaction is expected to close in first quarter 2019

HALIFAX, Nova Scotia – Emera Inc. (TSX:EMA) has agreed to sell its three natural gas-fired generation facilities in New England, known as Bridgeport Energy, Tiverton Power and Rumford Power, to an affiliate of The Carlyle Group for US$590 million (C$780 million). Together, the facilities have the capacity to generate approximately 1,100 MW.

“This transaction, part of the three-year funding plan we introduced during our third quarter earnings results,  increases Emera’s financing flexibility to capitalize on our regulated growth opportunities today and in the future,” said Scott Balfour, President & CEO of Emera. “Our New England facilities delivered solid financial results during the five years of our ownership, and distinguished themselves with industry leading safety and operational performance. I want to thank our dedicated teams whose expertise and commitment produced those achievements. The Carlyle Group is highly regarded in the industry and well positioned to lead these facilities to continued success.” 

Matt O’Connor, Carlyle Group Managing Director and Head of Carlyle Power Partners, said, “Through this acquisition, Carlyle Power Partners will increase its generation capacity in the attractive New England market, making us one of the largest owners of power generation facilities in the region. We look forward to leveraging our existing market knowledge to create additional value for Bridgeport Energy, Tiverton Power and Rumford Power, building on their already strong track records of operational excellence.”

Cogentrix, The Carlyle Group’s management platform in the power generation space, will assume asset management, operations and maintenance and energy management responsibilities for the portfolio. Cogentrix currently manages Carlyle Power Partners’ fleet of power plants in the Northeast U.S. totaling approximately 1,400 megawatts, and will bring its management best practices to the portfolio.

The transaction is subject to the regulatory approvals of the United States Federal Energy Regulatory Commission, and under the provisions of the Hart-Scott-Rodino Antitrust Act, and is expected to close in first quarter 2019.

J.P. Morgan served as Emera’s financial advisor on the transaction.

* * * * *

About Emera Inc. 
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia with approximately $30 billion in assets and 2017 revenues of more than $6 billion. The company invests in electricity generation, transmission and distribution, gas transmission and distribution, and utility energy services with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F. and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com 
Videos: www.youtube.com/onecarlyle 
Tweets: www.twitter.com/onecarlyle 
Podcasts: www.carlyle.com/about-carlyle/market-commentary

Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws with respect to, among other things, the completion of the sale of Bridgeport Energy, Tiverton Power and Rumford Power. The words “anticipates”, “believes”, “budget”, “could”, “estimates, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “schedule”, “should”, “targets”, “will”, “would” and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains these identifying words.   The forward-looking information includes, but is not limited to, statements regarding (i) the risk that Emera may be unable to obtain governmental and regulatory approvals required for the proposed sale; (ii) the risk that other conditions to the closing of the proposed sale may not be satisfied; and (iii) the timing to consummate the sale.   There can be no assurance that the proposed sale will be completed, or if it is completed, that it will close within the anticipated time period.  By its nature, forward-looking information requires Emera to make assumptions and is subject to inherent risks and uncertainties.  These statements reflect Emera management’s current beliefs and are based on information currently available to Emera management. Additional detailed information about these assumptions, risks and uncertainties is included in Emera’s securities regulatory filings, including its Annual Information Form, annual and interim Management’s Discussion and Analysis, and in the notes to Emera’s annual and interim financial statements, which filings can be found on SEDAR at www.sedar.com.

Emera Inc.
Investor Relations

Erin Power, 902-428-6760
erin.power@emera.com

Or

Ken McOnie, 902-428-6945
ken.mconie@emera.com

Media

902-222-2683
media@emera.com

Christa Zipf
The Carlyle Group
212-813-4578

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Bridgepoint sells AHT Cooling Systems to Daikin

Bridgepoint

AHT, the global market leader in commercial plug-in refrigeration equipment for food retailers, is to be sold by private equity group Bridgepoint to Daikin Europe N.V., a subsidiary of Daikin Industries Ltd of Japan.

Headquartered in Austria, with a presence in over 100 countries, AHT’s core products are ‘plug-in’ supermarket refrigeration cabinets. Plug-in refrigerators are the fastest growing segment in commercial refrigeration, replacing centralised remote systems as a result of lower total cost of ownership and speed of installation. The company has an installed base of over one million units. AHT’s contracts are based around the provision of comprehensive installation and maintenance services alongside the products themselves. It has four manufacturing sites in Austria, China, Brazil and USA.

Bridgepoint acquired the business in November 2013. In 2017 the company had €481m net sales and has achieved 12% compound revenue growth over last 10 years.

Michael Davy, partner at Bridgepoint and Chairman of AHT, said: “AHT has been transformed from a largely Europe-focused business into a global leader in its segment with a growing presence in a number of attractive international markets. It has been at the forefront of the refrigeration industry’s move away from remote built-in systems to plug-in units which customers find easier to install or relocate, are lower cost to operate, and are typically more environmentally friendly than traditional systems. We wish the company continued success under a new owner as it continues to expand geographically and enlarges further its product portfolio.”

Under Bridgepoint ownership there was significant investment in the business including over €70 million of capital expenditure in the last three years alone for the development of new products, expanding the manufacturing facility in Austria and setting up new production sitesin Brazil and the US. AHT also expanded its operations in China, where its production capability has enabled the group to reduce manufacturing costs, while continuing to grow market share in Europe.

Plug-in refrigeration is forecast to continue to outperform the wider global refrigeration market as a result of increased adoption, the replacement cycle of its installed base and growth in the consumption of frozen and chilled foods.

Frank Elsen, chief executive of AHT, added: “We have developed strongly since Bridgepoint invested over four years ago and we’ve become a leader in our market. Our ambitions do not end here and we welcome Daikin as our new shareholder. We will now be alongside a partner who knows and understands our business well. They will support us in our strategy of innovation and further internationalisation, especially in emerging markets, allowing us to take AHT’s technology and after-sales service to new customers in our key target markets of Asia and Latin America.”

Masatsugu Minaka, President of Daikin Europe, said: “With the acquisition, Daikin is adding AHT showcases to its own wide  range of products, services and solutions based on its air conditioning and refrigeration equipment. This will enable Daikin to become a one-stop provider, offering complete coordination of air conditioning and refrigeration products. The refrigeration and freezer business is a highly social issue as it contributes to one of the crucial world challenges of food preservation and food waste reduction, especially faced in developing countries. The refrigeration business presents great opportunities for us to utilise the advanced technologies we have cultivated including energy saving, inverters and refrigerant control.”

For Bridgepoint, advisers involved in this transaction included: JP Morgan (M&A), PwC (financial/tax), Freshfields (legal)

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PAI Partners to acquire StellaGroup

PAI Partners

Paris, France – PAI Partners (“PAI”), a leading pan-European private equity firm, announces today that it has entered into exclusivity to acquire StellaGroup (“Stella”), the market leader in France for the production of doors, gates, shutters and enclosures for industrial and residential buildings, from ICG.

Stella is the leader in the French roller shutter market, as well as in metallic grills and curtains for store protection. The company, which serves over 10,000 clients, operates across five brands: La Toulousaine, with respect to garage doors, sectional doors, gates, grills and shutters, and Profalux, Eveno, Sofermi and Flip, in roller shutters, venetian blinds and garage doors. Stella is expected to achieve a turnover of €230 million in 2018, including the acquisition of Flip, which closed in October.

PAI intends to support the current management team in its plans to grow the business further, both organically and through acquisition.

The acquisition will be the second investment made by PAI Europe VII, which held its final close at €5.1 billion in March 2018 after less than three months of active marketing. PAI Europe VII made its first investment in July 2018 with the acquisition of Asmodee, a world leading international games publisher and distributor.
Didier Simon, CEO of StellaGroup commented: “After a period of significant growth in France over the past decade, we were looking for a financial partner able to help us to accelerate our international development, respectful of our values, and supportive of the acquisition plan of StellaGroup. We look forward to working with PAI to deliver the next phase of our growth story.”
Mathieu Paillat, Partner in PAI’s General Industrials sector team, commented: “PAI Partners is delighted to become the majority shareholder in Stella alongside the management team and ICG. Our common goal is to reinforce Stella’s position as a leader in the French market, while also pursuing new growth opportunities in Europe. We strongly support the management team as it aims to deliver this new phase in the company’s international development.”
Hadj Djemai, Head of Southern Europe at ICG, commented: “We have been delighted to be a partner of StellaGroup’s management since 2015. During this period, the group has developed very well both organically and through acquisitions.

We are reinvesting alongside the management and PAI Partners, as we are convinced there remains very significant growth potential.”
The relevant employee works councils of Stella will be consulted in respect of the transaction and completion of the transaction will be subject to regulatory approval and other customary conditions precedent.

Media contacts
PAI Partners
Greenbrook Communications: James Madsen
Tel: +44 20 7952 2000
DGM: Hugues Schmitt
Tel: +33 1 40 70 11 89

ICG
Alicia Wyllie
Tel: +44 203 201 7994

About PAI Partners
PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €12.3 billion of dedicated buyout funds. Since 1994, the company has completed 69 transactions in 11 countries, representing over €50 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. PAI Partners provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation. www.paipartners.com

About StellaGroup
StellaGroup is a French industrial expert in safety and comfort solutions for residential and industrial buildings. Its 900 employees design and manufacture doors, shutters, fences and gates for both the residential and industrial markets. StellaGroup operates five plants located in France, serving over 10,000 customers.
www.stella.group

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Dutch TecSource finds new partner in Nordian Capital to realise growth strategy

Nordian Capital

Nordian Capital has acquired a majority interest in Dutch TecSource (DTS), a leading international provider of specialized machines and solutions for the food processing industry.

DTS (www.dutchtecsource.com) has over the course of more than 30 years developed a strong market position in the production of thermal food processing equipment. With its product knowledge, engineering skills and outstanding manufacturing capabilities the company has specialized in processing equipment based on auger technology. With this capability the company has a leading position in the potato processing industry, especially with its screw blanching equipment. In addition, DTS has realized its successes in some other food segments, including a wide range of vegetables, soybeans, mushrooms, shrimps, cranberries & blueberries. For all these industries, DTS develops and delivers (unique) processing techniques, sophisticated processing lines and auger technologies for internal transport.

Nordian Capital will support DTS in further expanding its market positions in the full range of food segments. DTS is delighted with this new partnership with Nordian Capital. DTS founders Rob van Beem and Justin Wakker will remain actively involved with the company as shareholders and advisors. The current management team, consisting of Marcel van de Pol, Peter van der Stouwe and Jeroen Oostveen will partner alongside Nordian to shape the future of Dutch TecSource.

CEO of DTS, Marcel van de Pol: “Over the last years we’ve grown the business into a wider range of segments, whilst maintaining our focus on auger technologies. Now is the moment to expand that approach more internationally and to a next level. With Nordian the basis is formed for further growth in new markets and segments.”

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GILDE BUY OUT PARTNERS and management acquire KINKELDER

Gilde Buy Out

Zevenaar – Funds advised by Gilde Buy Out Partners (“Gilde”) today announced the acquisition of De Kinkelder Beheer B.V. (‘Kinkelder’), together with management. The terms of the agreement have not been disclosed.   Kinkelder, which has been a family business since its foundation in 1945, specialises in the production, development and sale of high-quality industrial circular saw blades for the steel industry and is the global leader in this market.

Kinkelder produces blades in 3 locations in Europe and the US, from which it exports to over 70 countries. The company has an unmatched reputation for high quality & service and a continuous focus on innovation. Under the ownership of the De Kinkelder family, the company has displayed a strong growth track record, both organically and through focused acquisitions. Kinkelder’s management has found a valuable partner in Gilde, with a wealth of experience in successfully supporting mid-market companies during their next growth phase. Jointly, Gilde and Kinkelder management are eager to continue to build on the success of the company and further grow its business. Read more at: http://gilde.com/news/2018/gilde-buy-out-partners-and-management-acquire-kinkelder

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Ardian signs agreement to acquire a stake in Technology & Strategy

Ardian

Paris, November 22, 2018 – Ardian, a world-leading private investment house, announced today that it has entered into exclusive negotiations with Dzeta Group, the investment firm, to acquire a share in Technology & Strategy (“T&S”), a European specialist in new technology consulting. Following the completion of the transaction, a number of managers from T&S will invest in the company.

Founded in 2008 and headquartered in Strasbourg, with strong French and German roots, T&S specializes in engineering, IT, digital and project management consulting in Europe, the United Kingdom and Southeast Asia, notably through its expertise in embedded systems. With 16 offices across six countries, T&S works closely with its clients to address a wide range of technological challenges. The Group has around 1,200 employees and operates in fast-growing niches in sectors such as automobile, healthcare, finance and luxury.

T&S has experienced strong organic growth of 46% p.a. since its inception in 2008, and has successfully completed several acquisitions. These include Antaes, technology consulting firm (Switzerland and Singapore) in 2014; Octelio Conseil, data-driven digital marketing specialist (France) in 2015; Arias/Maia, engineering consulting group (France); and Lormatech, industrial projects management consulting firm (France) in 2017. Following the strategic partnership with Ardian, T&S will continue to consolidate its presence in existing markets as well as developing its international footprint.

Jérémie Huss, Co-founder and CEO of T&S, said: “We are proud of the progress we have made with Dzeta and are now entering a new phase of our development. This strategic partnership with Ardian will allow us to target new geographies to carry out external growth.“

François Jerphagnon, Head of Ardian Expansion, added: “We are truly impressed with T&S’s strong track record since its inception in 2008. This acquisition is in line with Ardian Expansion’s strategy of partnering with ambitious companies seeking to expand outside their domestic market. This stands to be a promising partnership which will not only accelerate the Group’s growth, but also strengthen the management’s stake in T&S.”

Marie Arnaud-Battandier, Managing Director at Ardian Expansion, concluded: “Within 10 years, thanks to the quality of its teams, T&S has established itself as a leader in its market and has built a strong reputation thanks to its innovative approach. We are excited to begin working with the Group’s team whose entrepreneurship and ambitious vision mirrors the core values of Ardian Expansion.”

Claude and Grégoire Darmon, Founders of Dzeta Group, added: “We would like to warmly thank all the team of Technology & Strategy, congratulate them, and wish every success in this new adventure in which we are delighted to re-invest.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$82bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 550 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of more than 750 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

ABOUT TECHNOLOGY & STRATEGY

Technology & Strategy is a company founded in 2008. T&S specializes in engineering, IT, digital and project management consulting and works closely with its clients to address a wide range of technological challenges. T&S has also an integrated R&D center to follow market needs. People oriented and focused on excellence, T&S is a company which shares its expertise with a constant search for transparency. Technology & Strategy has learnt how to build trustful relationships with major clients of different sectors: notably industry, automobile and finance. T&S is a global company with a strong French and German root. The company defends an entrepreneurship model supported by its 1,200 employees, composed of 30 nationalities across 16 agencies and 6 countries (France, Germany, Switzerland, Belgium, United Kingdom and Southeast Asia).
www.technologyandstrategy.group/fen/
bar

ABOUT DZETA GROUP

Founded in 2009, Dzeta Group specializes in the Mid Cap segment and takes majority stakes in European
Companies with strong growth potential. Dzeta Group, has completed around 20 investments since its creation in sectors such as services, distribution TMT and industry.

LIST OF PARTICIPANTS

Ardian: Francois Jerphagnon, Marie Arnaud-Battandier, Arthur de Salins, Thomas Grétéré, Claire d’EsquerreLegal and financing advisor: Latham & Watkins (Olivier du Mottay, Lionel Dechmann, Benedicte Large Brémond, Aurélie Buchinet)
Tax structuration: Delaby & Dorison (Emmanuel Delaby, Florian Tumoine)
M&A advisor to the buyer: UBS (Fabrice Scheer, Renaud Tochon)
Commercial Due Diligence: Accenture Strategy (Sébastien Amichi, Romain Le Guen)
Financial Due Diligence: Alvarez & Marsal (Frédéric Steiner, Simon Regad)
Legal, tax, social Due Diligence: Taj (Olivier Venzal)
Insurance Due Diligence: Satec (Pierre Le Morzadec, Stéphane Arseau)

Dzeta Group: Claude Darmon, Grégoire Darmon

M&A advisor to the sellers: DC Advisory (Eric Hamou, Frédéric Meyer, Xavier Souvras, Léa Cichowlas)
Legal advisor to the sellers: Cohen & Gresser (Muriel Goldberg-Darmon Johannes Jonas, Angeline Duffour, Guillaume Guerin, Antoine Philippe),
Legal advisor management: Scotto (Isabelle Cheradame, Magda Picchetto)
Legal advisor Dzeta’s reinvestment: Frieh associés (Emmanuel Scialom)
Financial VDD: Eight Advisory (Stephane Vanbergue, Edouard de Nettancourt)
Legal&Tax VDD: PwC Avocats (Jerome Gertler, Edith Baccichetti)

PRESS CONTACTS

ARDIAN
Image 7
SIMON ZAKS
Tel : 01 53 70 74 63
szaks@image7.frANNE-CHARLOTTE CREAC’H
Tel : 01 53 70 94 21
accreach@image7.fr

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Nordstjernan subsidiary Lideta/Mama Mia continues expansion in primary health care

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Nordstjernan

Nordstjernan’s subsidiary Lideta, which also includes the Mama Mia health care group, has signed an agreement to acquire the Primary Health Care business area from Aleris. The acquisition covers a total of eleven health care centers in the Stockholm region and Uppsala, with 107,000 listed patients. The company has 275 full-time employees, and sales for 2018 were estimated at SEK 325 million. The acquisition is conditional upon approval from the relevant competition authorities. After the acquisition, Lideta will have 247,000 listed patients and approximately 775 employees, and it is estimated that sales will increase around 40 percent to just over SEK 1 billion. Lideta will thus become Sweden’s third largest private operator in primary health care.

In 2017, Nordstjernan acquired the health care companies Lideta and Mama Mia with the intent of developing a high-quality operator in Swedish health and medical care, with a focus on primary health care. The acquisition of Aleris’s Primary Health Care business area is part of its focus on primary health care.

“Nordstjernan believes that private health and medical care will play a central role in meeting patients’ growing needs for accessibility and quality. We believe that much of this future expansion will take place in the important field of primary health care. With Lideta’s acquisition of health care centers from Aleris, we will continue to expand in the welfare sector as a long-term owner,” said Nordstjernan’s President and CEO Tomas Billing.

Tomas Billing
President and CEO
Nordstjernan AB

Questions will be answered by:
Tomas Billing, CEO, Nordstjernan
Telephone: +46 8 788 50 18
E-mail: tomas.billing@nordstjernan.se

Stefan Stern, Senior Advisor, Nordstjernan
Telephone: +46 70 636 74 17
E-mail: stefan.stern@nordstjernan.se

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ONCAP Completes Sale of Tecta America

Onex

Toronto, November 21, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced that ONCAP has completed the sale of Tecta America Corporation, a national leader in commercial roofing services in the U.S. The terms of the transaction were not disclosed.

About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered medium-sized businesses that are leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.

About ONEX
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $33 billion of assets under management, including $6.9 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $52 billion, generate annual revenues of $32 billion and employ approximately 218,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711

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