Dear Investors, Pfaeffikon, June 2018

Partners and Friends of Ufenau Capital Partners,

we are pleased to announce that Fair Damage Control Holding (“FDC”) has acquired Repair Concepts.
Repair Concepts with its service centre in Rheinbach (Rhineland-Palatinate) is a strongly growing service provider for claim handling and repair services for insurance companies. The company provides its services nationwide with a focus on repair-assistance-services, on-site assessments, expert reports, document check as well as regulation for claims related to damages of properties. Repair Concepts handles around 60’000 claims per year with more than 100 employees and serves more than 120 renowned insurance companies in Germany.

After acquiring E.Via and FTS Preischel in 2016, Repair Concepts represents the third acquisition of FDC. Due to the recent acquisitions, the Group could further strengthen its market leading position in Germany. In total, FDC budgets sales of more than EUR 35 million in 2018 and employs now 250 people.
Peter Becker, Managing Director of Repair Concepts: “We are pleased to have found with FDC a partner with the profound understanding of the insurance market who supports the objectives and strategy of Repair Concepts. We see the partnership with FDC as foundation for a sustainable and long-term development of our organization.”
Hubertus Marx, CEO of FDC, adds: “I am pleased that we have succeeded in further expanding the market position of FDC in Germany with the acquisition of the well-established and renowned Repair Concepts Group. The acquisition allows us to offer to our customers an even wider range of services.”
Sincerely, your Ufenau Team

About Ufenau Capital Partners
Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.
Fair Damage Control acquires Repair Concepts Group
Ufenau Capital

LONDON – July 19, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than €21 billion of equity capital under management, announced today that one of its affiliates has entered a definitive agreement to sell the KidsFoundation Group (“KidsFoundation”), the Dutch market leader in childcare services, to Onex Corporation (“Onex”)(TSX:ONEX). Terms were not disclosed.

Headquartered in Almere, the Netherlands, KidsFoundation provides high-quality childcare to nearly 30,000 children between the ages of six weeks and 12 years. H.I.G. created KidsFoundation in 2014 through the acquisition of assets from the estate of Estro Group. During H.I.G.’s ownership, the company has developed strongly with significant capital invested by H.I.G. to create a high-quality childcare offering. H.I.G. worked with KidsFoundation management to optimise the footprint of the company by exiting loss-making locations, introduce new IT systems to drive operational improvement and develop an internal M&A capability. H.I.G. supported the company with capital to undertake a number of bolt-on acquisitions in the past year and to pursue a wider pipeline of inorganic growth opportunities. The business is now the largest provider of childcare in the Netherlands receiving strong advocacy ratings from staff and parents.

Carl Harring, Managing Director at H.I.G. Capital, commented on the transaction: “The Dutch childcare market has returned to growth in recent years and is set to develop in a stable manner going forward. We have enjoyed working with the KidsFoundation team to build a market-leading business well positioned to take advantage of growth opportunities in the Netherlands and further afield. The business has a best-in-class product with management and staff working hard to deliver the highest quality of care. KidsFoundation has delivered an outstanding return for H.I.G. and its investors; we look forward to observing the future development of the company.”

Jeanine Lemmens, Group CEO, KidsFoundation, stated: “We would like to thank H.I.G. for their financial and strategic support in the development of the KidsFoundation Group into the market-leading childcare provider in the Netherlands. It is a true example of what can be achieved when passion and know-how are bundled in the right way. We are excited to partner with Onex as we focus on further national and international expansion.”

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €21 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real assets funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

About KidsFoundation
KidsFoundation was founded in 2014 and is the largest childcare organisation in the Netherlands. KidsFoundation offers high quality childcare and out-of-school care at 281 locations throughout the country. Our 3750 employees take care of nearly 30,000 children on a daily basis. KidsFoundation is the parent company of Smallsteps, Zus and Zo, Kits, the Speelbrug and SKS Alles Kids. KidsFoundation aims to offer parents the best and most appreciated childcare in the Netherlands.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Toronto, July 19, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has agreed to acquire KidsFoundation Holdings B.V. (“KidsFoundation”) in partnership with the existing management team. KidsFoundation is the largest childcare provider in the Netherlands. The transaction is expected to close later this year, subject to customary conditions and regulatory approvals. The terms of the transaction are not being disclosed.
KidsFoundation is one of the highest-rated childcare providers in the country. It offers nursery care for children between six weeks and four years old as well as before and after school care services for children between four and 12 years old. The company provides childcare for more than 30,000 children across 281 centres with approximately 3,750 employees.
“KidsFoundation is committed to a high standard of care and quality for the families it serves, and that is a commitment we want to continue and build on,” said Nigel Wright, a Managing Director with Onex. “We are pleased to be partnering with the KidsFoundation management team and look forward to supporting their growth for years to come.”
“Onex’ strong investment track record and history of supporting the teams it invests alongside makes it an ideal partner for us,” said Jeanine Lemmens, Chief Executive Officer of KidsFoundation. “Our first priority is to provide high-quality care of our children in safe facilities with the best staff. Onex is aligned with the strategic direction of our firm and we are excited to work together in our next phase of growth.”
The investment will be made by Onex Partners, Onex’ private equity platform focused on larger investment opportunities.

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 $32 billion of assets under management, including $6.7 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 $49 billion, generate annual revenues of $31 billion and employ approximately 207,000 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.

This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

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

Genstar Embraces Cetera’s Commitment to the Advice-Centric Experience^TM and Focus on Financial Well-Being Through an Enriched Client Engagement

Company to Continue Operating Under Current Brand, Culture and Leadership, with Significant Capital for Investments in Future Growth

LOS ANGELES, July 17, 2018 – Cetera Financial Group^® (“Cetera”), a leading network of nearly 8,000 financial advisors, today announced that it has partnered with Genstar Capital (“Genstar”), to accelerate the company’s growth and success under its current brand, culture and leadership team.  Genstar is a leading private equity firm focused on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries.  The transaction reflects a shared commitment to Cetera’s Advice-Centric Experience™ model and provides access to significant capital for future investments in technology, customer experience, operations, data and growth platforms for the financial advisors and financial institutions served by Cetera.

Robert “RJ” Moore, CEO of Cetera, said, “The successful conclusion of our capital structure review process represents the next milestone in our company’s strategic transformation that began in 2016.  This outcome affirms our vision for the future of the financial advice profession and creates a powerful partnership to help make this vision a reality for the financial advisors and financial institutions we support.  Working alongside Genstar, our entire organization will continue to serve our advisor community by advancing our Advice-Centric Experience, which envisions a profession driven by high-caliber, planning-based advice for clients.” Mr. Moore went on to say, “This is a unique time in our profession, when the need and desire for financial advice is at its greatest. We believe there continues to be significant opportunities for Cetera to be a compelling leader in the delivery of that advice.”

Going forward, Cetera will continue to operate under a multi-affiliation structure, through two core channels – Traditional and Specialty – that collectively serve the full spectrum of independent advisor businesses and financial institutions.

Under this new partnership, Genstar has entered into a definitive agreement with Aretec Group, Inc., the holding company for Cetera, in a transaction expected to close in the late third quarter of this year.  Under the agreement, the specific terms of which were not disclosed, Genstar will assume majority equity control of Cetera, with Cetera’s leadership team maintaining a meaningful ownership position.

Tony Salewski, Managing Director of Genstar, said, “We’re excited to work closely with the team at Cetera to build on the company’s longstanding leadership in the financial advice space, and to support the growth and success of its nearly 8,000 financial advisors across the country.  From its scale and breadth of solutions, to its leadership team and vision for the future of advice, Cetera is well-positioned to capitalize on long-term secular tailwinds in wealth management. We have deep sector expertise and we see enormous opportunities to promote the long-term success of Cetera, its advisors and institutions to address the rising importance of professional financial advice to help individuals reach their financial goals.”

Genstar’s current and previous financial services investments include Mercer Advisors, AssetMark, Ascensus, Apex Fund Services, Acrisure, ISS, and Strategic Insight.  For this investment Genstar has assembled a strong Board of Directors to help guide the company’s strategic direction. In addition to RJ Moore, CEO of Cetera, Genstar representatives will include Tony Salewski and Sid Ramakrishnan as well as Ben Brigeman, former Executive Vice President for Charles Schwab & Co. who led the company’s Individual Investor (Retail) business; and Hal Strong, formerly Vice Chairman of Russell Investments.

Mr. Moore concluded, “The future of Cetera, its independent financial advisors and financial institutions, and indeed, the broader wealth management profession, has never been brighter.  We thank our advisors, institutions and our employees for their strong support and confidence throughout this process, and we’re excited to continue this journey together.”

The transaction is subject to customary regulatory and other approvals.  Goldman Sachs & Co. LLC served as Cetera’s financial advisors in this transaction, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel for the company.

UBS Investment Bank and Deutsche Bank Securities Inc. served as financial advisors to Genstar, and Willkie Farr & Gallagher LLP served as legal counsel for Genstar.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has approximately $10 billion in assets under management and targets investments focused on targeted segments of the financial services, industrial technology, healthcare and software industries.

About Cetera Financial Group^®

Cetera Financial Group (“Cetera”) is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and financial institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services. All firms are members FINRA / SIPC.

# # #

MEDIA INQUIRIES:

Cetera
Joseph Kuo or Chris Clemens
Haven Tower Group
424 652 6520 ext 101 or 102
kuo@haventower.com
cclemens@haventower.com

Genstar Capital
Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
chris@tofallipr.com