Category Archives: News

Aurelius successfully completes acquisition of Spanish packaging specialist Abelan

Aurelius Capital

  • Deal represents Aurelius’ third acquisition in the European packaging sector since 2015
  • Aurelius plans to further strengthen its operations in the packaging sector
  • Three manufacturing facilities in Spain and France
  • Projected revenues of c.€70m in 2017

Munich/London/Madrid, February 1, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) successfully completed the acquisition of Abelan Board Industrial S.L., a major producer of core board and solid board packaging products operating out of Southern Europe, as of January 31, 2018. The deal represents AURELIUS’ third acquisition in the European packaging sector since 2015 and will further strengthen the Group’s operations in this market. The financial terms of the deal are undisclosed. Aurelius plans to further strengthen its operations in the packaging sector via strategic add-on acquisitions going forward.

Founded in 1911, Abelan has grown to be one of Europe’s leading providers of core board and solid board packaging solutions. The Company is headquartered in San Andrés in northern Spain and employs c.250 people across three manufacturing facilities in Spain and France. It is projected to generate revenues of approximately €70m in 2017. Abelan has two key areas of expertise: the production of core board, for cardboard tubes, boxes and other applications within packaging, and its solid board packaging division, which supplies a large variety of boxes and trays to major distribution brands in the European agricultural, meat, flower and various other industries.

Managing Director of Abelan, Simón Roda, will continue to lead the Company. Abelan will be combined with AURELIUS investee company Solidus Solutions, one of Europe’s leading producers of solid board, graphic board and solid board packaging with c.1,000 employees. Solidus has production facilities in the Netherlands, Belgium and the UK, having integrated its sites after AURELIUS acquired the Northern European activities of Abelan in June 2016, as well as dedicated sales offices in France and Norway. AURELIUS’ acquisition of Abelan, and the integration of its production facilities and customer base into Solidus, will create synergies across both companies’ production, purchasing and sales. In addition, it will strengthen Solidus’ access to Southern European markets and establish Solidus as a leading player in the areas of solid board, graphic board and core board.

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Tesi and LocalTapiola to invest in the growth of the renewed Viria

Tesi

LocalTapiola and Tesi have reached an agreement on a significant investment in Viria, a company that offers solutions in digital and physical security. As part of the arrangement, LocalTapiola and Tesi will buy 575,000 shares of Viria Plc’s subsidiary Vemetra Holding Oy at the price of EUR 20 per share. The total purchase price is EUR 11.5 million.

Photo Viria Group

Following the transaction, LocalTapiola will become the largest external owner of Viria with its 300,000 shares, and Tesi the second largest with its 275,000 shares. Their combined shareholding of the company will be approximately 10%. Viria Group will retain ownership of 393,700 shares, accounting for 7.3% of the total shares.

Viria is an ICT and security service company that combines cyber security, security technology solutions and advanced analytics in its business in a unique way. Previously operating under the name of Anvia, the company sold its telecommunications business to Elisa in 2016 and began building a new overall structure based on security and network technology as well as data management.

“Viria’s goal is to renew the security industry as a pioneer of the field. The funds we got from this transaction will support the implementation of our strategy, as our goal is to grow our business both organically and through strategic corporate acquisitions. Selling our shares is also an important step in developing Viria’s ownership structure to become more diversified,” says Mika Vihervuori, CEO of Viria

“Viria’s business is a combination of interesting operations that support one another; analytics, network security and physical security. We believe that these will grow notably as we go on. As a life security company, this kind of business is close to us, and we believe that these services will be offered to businesses and private persons even more in the future,” says Pasi Haarala, CEO of LocalTapiola Pohjanmaa.

“The company has a strong leadership that works together for a common goal and has proved its ability to carry out corporate acquisitions and business integration processes. In addition to growing in Finland, the company aims to grow internationally and apply for a stock exchange listing,” says Jussi Hattula, Director at Tesi.

More information

Mika Vihervuori, CEO, Viria tel. 040 720 2140
Pasi Haarala, CEO of LähiTapiola Pohjanmaa, tel. 0400 958 835
Jussi Hattula, Director, Tesi, tel. 040 066 9955

Viria has strong expertise in physical and cyber security, information management and TV services. The Viria Group consists of the parent company Viria Plc and its subsidiaries Viria Securi Ltd, Viria LAN&WAN Ltd, Hibox Systems Oy Ab, Tansec Oy and AB Sappa. All the companies are experiencing good growth, and many are among the largest operators in their markets. www.viria.fi

The mission of the LocalTapiola Group is to secure our customers life and success. Our vision is to provide a more secure and healthy life for Finns. Lifelong security means that our customers receive comprehensive and pre-emptive service. LocalTapiola is a financial group owned by its customers, which services private customers, farms, entrepreneurs, companies and organisations. LocalTapiolas products and services cover life, non-life and pension insurance, as well as placements and savings. LocalTapiola is also an expert in company risk management and well-being in the workplace. www.lahitapiola.fi

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi/en | @TesiFII

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Clarion Events completes merger with Global Sources

Blackstone

February 1, 2018 – London based Clarion Events, one of the world’s leading independent events organisers, has completed a merger with Global Sources, a leading Asian exhibitions and online B2B marketplace operator based in Hong Kong. Funds managed by Blackstone will control the combined group. Terms of the transaction were not disclosed.

Combining both market-leaders will create one of the largest privately-owned exhibitions businesses globally, with substantial scale across Asia, Europe and North America, organising 200 events per year and generating more than £300m of Revenues. The combined group will be led by the existing Clarion management team under Chief Executive Officer Russell Wilcox and Chairman Simon Kimble. The new group will continue to operate under the name Clarion Events, with the Global Sources brand identity retained in the Asian region.

Commenting on the announcement, Russell Wilcox, CEO of Clarion Events, said: “This merger marks an important milestone for both companies as we embark on an exciting new chapter. With the support of Blackstone, the new Group is well positioned to take advantage of our combined scale and global platform. We look forward to working with the Global Sources management, and believe that the remarkable expertise and capability of the combined company offers a very strong opportunity for future growth.”

Lionel Assant, Head of European Private Equity at Blackstone, added: “We are very excited by the merger. There is significant opportunity in the events space globally and this is a perfect strategic fit driven by tremendous growth potential.”

About Clarion Events 
Clarion is one of the world’s leading events organisers, producing and delivering innovative and market-leading events since 1947. In more recent times the firm has grown into a truly international business, with a portfolio of events and media brands across a range of vertical markets. Our 1000 employees based in our 13 offices worldwide specialise in delivering first class marketing, networking, and information solutions in high value sectors, both in mature and emerging geographies.

About Global Sources 
Global Sources is a leading regional exhibitions and online B2B marketplace operator based in Hong Kong. The Company operates 8 semi-annual export-oriented sourcing exhibitions in Hong Kong, including the largest electronics and mobile electronics shows in the world, as well as an annual machinery show in China. Collectively, the Company’s exhibitions host over 10,000 exhibitors and 200,000 attendees each year and its B2B marketplace, GlobalSources.com, serves a community of more than 1.5 million professional buyers worldwide

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

Media Contact:

Blackstone
Andrew Dowler/Rebecca Flower
+44 (0) 207 451 4005
+44 (0) 7918 360 372
Andrew.Dowler@Blackstone.com

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UCB and investor syndicate led by Novo Seeds launch Syndesi Therapeutics to develop novel therapeutics for cognitive disorders

UCB Ventures

Syndesi Therapeutics to leverage UCB’s expertise in neurology drug discovery to develop potential therapeutics in cognitive disorders with a first-in-class mechanism • Series A financing of €17 M from a syndicate of Belgian and international investors

Brussels, Belgium – February 1st, 2018 – The creation of Syndesi Therapeutics (‘Syndesi’) was announced today as the result of a partnership between UCB and a syndicate of Belgian and international investors. The investor syndicate is led by Novo Seeds and Fountain Healthcare together with Johnson & Johnson Innovation – JJDC, Inc. (JJDC), V-BIO Ventures, the Walloon Investment Fund (SRIW) and VIVES Louvain Technology Fund. Syndesi Therapeutics has exclusively licensed a first-in-class small molecule program from UCB and the series A investment totalling €17M will fund the clinical development of the lead compound up to early proof-of-concept in humans.

Syndesi Therapeutics is based in Belgium and will leverage UCB’s neurology expertise in modulating the synaptic vesicle protein SV2A. UCB’s Neuroscience researchers in Belgium have designed a unique class of novel SV2A modulators. Unlike levetiracetam and other types of SV2A modulators discovered and developed by UCB for epilepsy, the novel compounds are devoid of anti-epileptic properties but have demonstrated robust pro-cognitive properties in preclinical models. Cognitive impairment currently being outside UCB’s strategic scope, the decision was made to have the program further developed externally to leverage its full potential. The discovery of these novel pro-cognitive SV2A modulators at UCB has benefitted from prior support of the Walloon Region, and Syndesi will use the Series A investment to build upon that work and move the lead molecule into clinical development.

“UCB is the world leader in SV2A research, having discovered and developed two major antiepileptic drugs treating patients around the world. We are excited to see Syndesi develop our novel pro-cognitive SV2A modulators to create value for patients with cognitive impairment,” said Dhavalkumar Patel, UCB’s Chief Scientific Officer and Executive Vice President. “The Belgian life science ecosystem is particularly vibrant and we realised that it was the right environment to promote this research as part of our biotech model approach.

” Jonathan Savidge, PhD CEO of Syndesi noted “Development of these small molecules that modulate the SV2A target in a distinct manner represents an intriguing new approach for the treatment of cognitive deficits since they specifically target synaptic dysfunction, a hallmark of Alzheimer’s Disease and other indications characterized by cognitive impairment. Syndesi benefits both from UCB’s research expertise and from an impressive syndicate of experienced investors and their respective networks.” “Cognitive impairment remains an area of significant unmet need for patients not only with Alzheimer’s Disease but also more broadly across a range of neurological disorders, and we are excited about the potential promise of this novel therapeutic approach,” says Morten Graugaard Døssing, Principal at Novo Seeds. “I am thrilled to be working with the company which is supported by scientists at UCB and able to leverage Janssen neuroscience expertise via a presence at the JLINX incubator, all in an effort to develop products that could one day make a meaningful difference for patients suffering from cognitive impairment.”

About Syndesi Therapeutics Syndesi Therapeutics (www.syndesitherapeutics.com) has been established at the Centre d’Entreprises et d’Innovation (CEI) in Louvain-la-Neuve and will have a presence at the JLINX incubator facilities to access expertise at the Janssen campus in Beerse, Belgium. Syndesi has an exclusive, worldwide license from UCB to develop and commercialise a series of novel, pro-cognitive SV2A modulators. Syndesi will build on a rich legacy of work by UCB to further develop these novel SV2A modulators to investigate their potential to improve cognition in diseases such as Alzheimer’s Disease, other dementias and cognitive impairment associated with schizophrenia.

About UCB UCB, Brussels, Belgium (www.ucb.com) is a global biopharmaceutical company focused on the discovery and development of innovative medicines and solutions to transform the lives of people living with severe diseases in immunology and neurology. With more than 7500 people in approximately 40 countries, the company generated revenue of €4.2 billion in 2016. UCB is listed on Euronext Brussels (symbol: UCB). Follow us on Twitter: @UCB_news

About Novo Holdings and Novo Seeds Novo Seeds is the early-stage investment arm of Novo Holdings (www.novoholdings.dk). Novo Holdings is a private limited liability company wholly owned by the Novo Nordisk Foundation. The company is the holding company in the Novo Group, comprising Novo Nordisk A/S, Novozymes A/S and NNIT A/S, and is responsible for managing the Foundation’s assets. In addition to being the major shareholder in the Novo Group companies, Novo Holdings provides seed and venture capital to development-stage companies, takes significant ownership positions in well-established companies within the life sciences and manages a broad portfolio of financial assets.

About Fountain Healthcare Partners Fountain Healthcare Partners (www.fh-partners.com) is a life science focused venture capital fund with €176 million ($200 million) under management. Within the life science sector, specific areas of interest to Fountain include specialty pharma, medical devices, biotechnology and diagnostics. The firm deploys the majority of its capital in Europe, with the balance in the United States. Fountain’s main office is in Dublin, Ireland, with a second office in New York.

About Johnson & Johnson Innovation – JJDC, Inc. (JJDC) Johnson & Johnson Innovation – JJDC Inc. (JJDC) is the strategic venture capital arm of Johnson & Johnson and a long-term investment partner to global healthcare entrepreneurs. Founded in 1973, JJDC continues a legacy of customizing deals for data-driven companies across the continuum of healthcare, with the goal of turning great ideas into transformative new pharmaceutical, medical device and consumer healthcare products. www.jjdc.com

About V-Bio Ventures V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in building and financing young, innovative life science companies. V-Bio Ventures was established in 2015 and works closely with Belgium-based VIB, one of the world’s premier life science institutes. The fund invests throughout Europe in start-up and early-stage companies with high growth potential focusing on technologies that provide transformational improvements in the biopharmaceutical, pharmaceutical, diagnostics and agricultural sectors.

About SRIW SA SRIW Société Régionale d’Investissement de Wallonie (www.sriw.be) provides equity and/or debt to companies that generate added value and employment in Wallonia. SRIW facilitates the region’s economic development, contributing effectively to the modernisation, growth and restructuring of the businesses that make up the Walloon industrial network. In the life science sector, SRIW is investor in more than 30 companies such as I.B.A., Celyad, or Ogeda of which it recently exited. Its current portfolio fair value is above 150 million €. About VIVES-Louvain Technology Fund The VIVES Louvain Technology Fund (www.vivesfund.com) is a multi-sector technology fund which invests in the spin-offs of the Université catholique de Louvain (UCL) and startups in Belgium and neighboring countries. VIVES II is funded by a dozen leading Belgian and European investors such as the EUROPEAN INVESTMENT FUND (EIF), SFPI-FPIM, BNP PARIBAS FORTIS PRIVATE EQUITY BELGIUM, BPI FRANCE (France), ING BELGIUM, SOFINA, AXA BELGIUM, BELFIUS, IRD (France), NIVELINVEST, REGION BRUXELLES CAPITAL and by SOPARTEC. The objective of the fund is to invest in the development of start-ups, from validation of the technology to commercial maturity. The funds (VIVES I – €15 million and VIVES II – €43 million) are managed by SOPARTEC, UCL’s technology transfer company, member of the Louvain Technology Transfer Office.

For further information, UCB: Corporate Communications France Nivelle Global Communications, UCB T +32.2.559.9178 france.nivelle@ucb.com Laurent Schots Media Relations, UCB T+32.2.559.92.64 Laurent.schots@ucb.com Investor Relations Antje Witte Investor Relations, UCB T +32.2.559.94.14 antje.witte@ucb.com Isabelle Ghellynck, Investor Relations, UCB T+32.2.559.9588, isabelle.ghellynck@ucb.com

UCB Forward-Looking Statements

This press release contains forward-looking statements based on current plans, estimates and beliefs of management. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including estimates of revenues, operating margins, capital expenditures, cash, other financial information, expected legal, political, regulatory or clinical results and other such estimates and results. By their nature, such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions which could cause actual results to differ materially from those that may be implied by such forward-looking statements contained in this press release. Important factors that could result in such differences include: changes in general economic, business and competitive conditions, the inability to obtain necessary regulatory approvals or to obtain them on acceptable terms, costs associated with research and development, changes in the prospects for products in the pipeline or under development by UCB, effects of future judicial decisions or governmental investigations, product liability claims, challenges to patent protection for products or product candidates, changes in laws or regulations, exchange rate fluctuations, changes or uncertainties in tax laws or the administration of such laws and hiring and retention of its employees. UCB is providing this information as of the date of this press release and expressly disclaims any duty to update any information contained in this press release, either to confirm the actual results or to report a change in its expectations. There is no guarantee that new product candidates in the pipeline will progress to product approval or that new indications for existing products will be developed and approved. Products or potential products which are the subject of partnerships, joint ventures or licensing collaborations may be subject to differences between the partners. Also, UCB or others could discover safety, side effects or manufacturing problems with its products after they are marketed. Moreover, sales may be impacted by international and domestic trends toward managed care and health care cost containment and the reimbursement policies imposed by third-party payers as well as legislation affecting biopharmaceutical pricing and reimbursement. Open PDF of “Syndesi Therapeutics ENG” Open PDF of “Syndesi Therapeutics FR” Open PDF of “Syndesi Therapeutics NL”

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Veritas Petroleum Services acquires Transoil Laboratory Limited

ik-investment-partners

Rotterdam, 31st January – Veritas Petroleum Services (VPS), a global fuel testing advisory company owned by IK Investment Partners (IK VII Fund) has acquired Transoil Laboratory Limited, a transformer and insulating oil testing company based in Manchester, UK. Financial terms of the transaction were not disclosed.

VPS is the market-leading fuel testing, inspection, and advisory company in shipping, with laboratories located in Rotterdam, Singapore, Houston and Fujairah. VPS tests fuels and lubricating oils, producing high quality, reliable analytical data with further expert interpretation and advice on engine condition monitoring and cost optimisation. The acquisition of Transoil enables VPS to expand its testing and advisory service offering into power industries.

Dr Malcolm Cooper, Group Managing Director of VPS said: “In Transoil, we have acquired a company with a strong technical capability and excellent reputation, which is a great fit with our existing business. The addition of transformer and insulating oils to our existing portfolio of fuels and lubricating oils enables us to service a wider range of markets, and represents a platform for further growth and diversification of our testing and advisory business.”

Peter Broadbent, founder and Managing Director of Transoil Laboratory said: “Joining forces with VPS allows us to expand our transfomer and insulating oil testing and advisory services globally. With our combined service offering in fuel, lubricating and transformer oil testing and advice, we become an even stronger partner to our customers. We are very excited about this opportunity.”

For more information, please visit www.v-p-s.com

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FSN CAPITAL V: Holmbergs Safety System has signed an agreement to acquire Fasching Safety Belts

Fsn Capital

Holmbergs Safety System Holding AB (“Holmbergs”) has signed an agreement to acquire Austria based Fasching Safety Belts GmbH (“Fasching”), which is a leading provider of safety belts for the bus and motor coach industry. The acquisition is consistent with Holmbergs’ strategy of growing its Secured Transportation business, both organically and through M&A, to complement its global market leading position in child safety systems. Fasching’s current owner will re-invest a substantial part of the transaction proceeds in Holmbergs, as well as remaining in the Board of Directors for Fasching and working actively with strengthening the Holmbergs Group’s overall position in the DACH region.

Fasching is a global leading manufacturer of safety belts for buses, commercial vehicles and wheelchairs. The company has shown strong organic annual growth in recent years, and currently has revenues of EUR 10 million. Today, Fasching has a stable global platform for continued expansion.

Anders Sandell, CEO Holmbergs:
“We are impressed by Fasching’s strong growth journey, as well as its leading market position for safety solutions in attractive niches of the transportation market, and in particular its global market leading position in the bus segment. Fasching will form a great platform for continued growth in our Secured Transportation business. Furthermore, this transaction is in line with our strategy to continue to grow our Secured Transportation business, both organically and through acquisitions of market leading niche players. Most importantly, we hereby want to welcome Fasching to the Holmbergs’ family, and we look forward to start working with Mr. Mayer and his colleagues at Fasching.”

Peter Mayer, CEO and owner of Fasching:
“It has been a great journey since I joined Fasching in 2014. Since then, we have grown topline organically by CAGR 15%, and we are today the global market leading player in safety belts for buses, with customers on multiple continents. It is my strong view that Holmbergs will be a great owner of Fasching, and the acquisition will strengthen both Holmbergs’ and Fasching’s offering.  Also, I am excited of being able to re-invest in Holmbergs, as well as continue working with Fasching, together with the Holmbergs’ team.”

Holmbergs is a global market leader in the fast-growing niche markets of safety products and systems for child safety seats, as well as for the secured transportation industry. In 2017, Holmbergs pro-forma sales is expected to exceed SEK 430 million. In partnership with FSN Capital, Holmbergs aspires to reinforce its strong market position in child safety and further accelerate international growth, primarily in Asia. Additionally, the company intends to continue to grow its adjacent Secured Transportation business, both through organic as well as in organic initiatives.

 

 

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H.I.G. Portfolio Company Royo Group Combines with Fiora Bath Collections

HIG Capital

MADRID – January 31, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private investment firm with more than €20 billion of equity capital under management, announced today that its portfolio company, Royo Group (“Royo”) has completed the integration of Fiora Bath Collections (“Fiora”) as part of its growth strategy.

Headquartered in Nájera (La Rioja, Spain), Fiora was established in 1986, and is Europe’s leading manufacturer of resin shower trays, a rapidly growing product category. Its success has been driven by innovation in the design of new bathroom materials. Resin is highly versatile and offers excellent performance. It also has the ability to imitate the look and feel of very different material types, offering consumers an infinite range of bathroom design and decoration options. Fiora´s products are available in more than 30 countries worldwide. Fiora’s current shareholders will remain as shareholders in Royo and will remain involved in their current roles, playing a leadership management role in the combined business.

The combination of Fiora and Royo is part of Royo’s strategy to grow in other geographic markets and segments, to broaden its leadership to other product categories and to continue improving customer service. The objective of the co-operation between H.I.G. and Royo Group – and now with Fiora – is to create the leading independent player in the European bathroom sector.

Royo and Fiora’s sales networks will continue to operate separately, but will benefit from joint purchasing savings and other shared services.

Jaime Bergel, Managing Director, H.I.G. Europe, said: “Fiora has been a pioneering manufacturer of resin shower trays and is largely responsible for the runaway success of this new product throughout Europe, especially in the South. Fiora’s clients are attracted by the high quality of its products, its innovative design, as well as the exceptional pre-sale and post-sale support, factors that have positioned the company as the undisputed global leader in its market. The integration of Fiora with Royo will allow the Group to continue developing its R&D activity, international expansion and growth. The company will also benefit from becoming part of an international leading specialist in bathroom furnishings”.

Royo

Raúl Royo, CEO Royo said: “The integration of Fiora is a major corporate milestone in our ONE 2020 strategy. It strengthens our position as the European market leader and complements our channel and brand strategy that we began to roll out some years ago, a strategy that has been key to our considerable growth in Europe. The integration also heralds our move into a new product category – shower trays and panels –, allowing us to offer a wide range of shower and bath furnishing solutions. Our aim is to become the preeminent player in the European bathroom sector in the next few years”.

Fiora

José Barrio, one of the Fiora founders stated: “The entire Fiora team is both delighted and enthusiastic at the prospect of being part of Royo’s growth strategy supported by H.I.G., while retaining our identity, team and premium brand image. The complementary nature of our products and markets will enable us to bolster the growth already seen over the past decade and strengthen our competitive position. We are certain our employees, suppliers and sales network will support us on this new venture”.

About Fiora
Headquartered in Nájera (La Rioja, Spain), Fiora is Europe’s leading manufacturer of resin shower trays. The company also makes and distributes resin panels, bathroom furnishings, radiators and accessories. Fiora was established in the 1980s and was owned by its four founding partners until its integration into the Royo Group. Its success has been built on innovation in the design of new bathroom materials, such as resins. Fiora’s primary facilities are located at Nájera in La Rioja, Spain, where manufacturing is set to continue. The facilities span a total of 26,000 square metres and are equipped with cutting-edge technology. For more information, please refer to the Fiora website: www.fiora.es

About Royo
The Royo Group has its roots in the partnership established among various members of the Royo family, the original founders and owners of the business with a track record dating back 45 years. The group aims to strengthen its position in the European market for bathroom products and to step up its internationalisation plans to become the leading independent player in the European bathroom sector. RGIB currently has factories in Spain, Poland and Mexico, as well as sales operations in the United States and India. The company operates in over 60 countries on 5 continents.

Royo is the only Valencia-based company – and one of just a handful in Spain – to be invited to join Smart Eureka, a cluster of smart European 4.0 companies. Being asked to join the Smart Eureka initiative is one of the main milestones in RGIB’s new expansion phase until 2020. The Spanish Government, through the Ministry of Industry, recently added the group to its “Cre100do” programme, an initiative launched by foreign trade body ICEX, Bankinter and the Círculo de Empresarios that aims to help 100 Spanish companies grow to become large businesses over the next 5 years. For more information, please refer to the RG website: www.royogroup.com

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €20 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 and Rio de Janeiro, 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.

H.I.G. European Capital Partners Spain is a legally independent advisor to H.I.G. Capital LLC, H.I.G. Europe Capital Partners, L.P. and H.I.G. Europe Capital Partners II, L.P.

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

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Gimv invests in FIRE1, a medtech company developing a connected novel heart monitoring solution

GIMV

Gimv today announced a EUR 7 million investment in Ireland-based The Foundry Innovation and Research 1, Ltd. (FIRE1), a medtech company that is developing a connected monitoring solution to improve outcomes for people suffering from an increased risk of heart failure.This investment is part of a Series C financing of in total EUR 40 million from a strong syndicate of specialised investors, led by new investor Gilde Healthcare, with the participation of new investors Gimv and Seventure as well as all existing investors.

FIRE1 (www.fire1foundry.com) is the 15th medical device company and the 1st European spin-out from The Foundry, a successful Menlo Park, California-based medical device company incubator. FIRE1’s first product is a novel remote monitoring solution to improve outcomes for patients suffering from an increased risk of heart failure. Early detection enables a timely intervention and adjustment of pharmacotherapy, the Us avoiding hospitalisation, improving quality of life and lowering health care costs.

FIRE1 is led by an experienced medical devices team working closely with researchers, clinicians, patients and payers to help reduce the burden of heart failure.

Patrick Van Beneden, Partner in Gimv’s Health & Care platform, on this transaction: “We are very pleased to be involved in FIRE1, a company with an experienced team That is developing a new monitoring device for heart failure. This is a market with growing unmet needs, as cardiac disease is currently the world’s leading cause of death. This financing represents one of the bigger medtech transactions in Europe over the last months and is supported by an outstanding investor syndicate.”

The current financing, in which existing investors New Enterprise Associates, Lightstone Investors and Medtronic are also participating, will be used to complete a first-in-human study as well as for the submission of an IDE.

ABOUT GIMV

Gimv is a European investment company with almost 38 years’ experience in private equity and venture capital. Listed on Euronext Brussels, Gimv currently manages around 1.6 billion EUR (including co-investment partnerships) of investments in about 50 portfolio companies.

As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Connected Consumer, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a skilled and dedicated team across Gimv’s home markets of the Benelux, France and Germany and can count on an extended international network of experts.

More information on Gimv can be found on www.gimv.com.

For further information please contact:

Patrick Van Beneden, Partner in Gimv’s Health & Care platform

T +32 3290 2136 –  patrick.vanbeneden@gimv.com

 

Frank De Leenheer, Investor Relations & Corporate Communications Manager

Gimv T +32 3 290 22 18 – frank.deleenheer@gimv.com

 

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Blackstone-Led Consortium Announces Partnership Agreement with Thomson Reuters for Financial & Risk Business

Blackstone

New York, January, 30, 2018 – A consortium led by Blackstone (NYSE: BX) today announced that private equity funds managed by Blackstone (“Blackstone”) – together with Canada Pension Plan Investment Board (“CPPIB”) and GIC – have entered into a partnership agreement with Thomson Reuters (TSX / NYSE: TRI) for Thomson Reuters’ Financial & Risk (F&R) business. Under the partnership agreement, the Blackstone-led consortium will own 55 percent of the equity in a new corporation created to hold the F&R business and Thomson Reuters will retain a 45 percent equity stake, at an overall valuation of US$20 billion.

Thomson Reuters F&R is a world-leading data and financial technology platform that provides critical information and data analytics, enables financial transactions, and connects communities of trading, investment, financial and corporate professionals. It also provides leading regulatory and risk management solutions to help customers anticipate and manage risk and compliance.

Martin Brand, a Senior Managing Director at Blackstone, said: “We are excited to partner with Thomson Reuters – one of the most trusted companies in financial technology. The F&R division has tremendous assets, including a world-leading data business, essential risk and compliance solutions, OTC trading venues, wealth management software, and a strong desktop business. The partnership with Blackstone provides an opportunity to increase efficiency and accelerate revenue growth through innovation and focus on creating uniquely compelling products for F&R’s customers.”

Joe Baratta, Blackstone’s Global Head of Private Equity, said: “We are delighted to partner with Thomson Reuters in continuing to grow the Financial and Risk business. This is a landmark transaction for Blackstone and our investment partners.”

Ryan Selwood, Managing Director & Head of Direct Private Equity, CPPIB, said: “This investment in F&R will broaden our portfolio in the growing financial technology space. We are very pleased to support the evolution of a global market leader.”

Choo Yong Cheen, Chief Investment Officer of Private Equity at GIC, said: “As a long-term value investor, we believe this business transformation will enable F&R to focus on its core customer base and be in a strong position to continue delivering innovative products to the market.”

Reuters News will continue to remain a part of Thomson Reuters and will not be included in the assets being acquired. The new F&R will enter into a 30-year contract for the exclusive rights to distribute Reuters News through all F&R products. Reuters News will continue to have complete editorial independence from F&R and Thomson Reuters, as it does today.

Canson Capital Partners, BofA Merrill Lynch, Citigroup, and J.P. Morgan are acting as financial advisors to the Blackstone-led consortium, and Simpson Thacher & Bartlett LLP is acting as legal counsel to the Blackstone-led consortium. Debt financing related to the transaction is being provided by J.P. Morgan, BofA Merrill Lynch, and Citigroup. Dechert LLP is acting as legal counsel to GIC.

Matteo Canonaco, co-founder of Canson Capital Partners, said: “We are delighted to advise the Blackstone-led consortium on a transaction that epitomizes the positive role that private equity can play by teaming up with major corporations and enabling them to achieve mission-critical strategic objectives.”

The transaction is expected to close in the second half of 2018.

About Blackstone
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with over $385 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About CPPIB
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2017, the CPP Fund totalled C$328.2 billion. For more information about CPPIB, please visit www.cppib.com or follow us on LinkedIn, Facebook or Twitter.

About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.

About Thomson Reuters
Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. For more information, visit www.thomsonreuters.com or www.tr.com.

Blackstone Media Contact
Matt Anderson
Senior Vice President, Global Public Affairs
T: 212 390 2472
matthew.anderson@blackstone.com

CPPIB Media Contacts

Mei Mavin
Director, Global Corporate Communications
T: +44 203 205 3406
mmavin@cppib.com

Dan Madge
Senior Manager, Media Relations
T: +1 416 868 8629
dmadge@cppib.com

GIC Media Contacts

Ms Mah Lay Choon
Senior Vice President, Communications
T: +65 6889 6841
mahlaychoon@gic.com.sg

Ms Wendy Wong
Senior Vice President, Communications
T: +65 6889 6928
wendywong@gic.com.sg 

 

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Valmet Automotive Strategy and Leadership Transition

Tesi

In 2017 Valmet Automotive took significant steps in transforming from a Finland-based vehicle manufacturing business to a service provider with a broad offering to the automotive industry: a company with a special focus on electric vehicles and a strong presence in Central Europe, close to its key customers. While vehicle manufacturing continues to be a core element in Valmet Automotive’s strategy, the company is putting more emphasis on growth from new areas such as automotive engineering and battery pack supply. This complements its vehicle and roof manufacturing businesses.

In January 2017 Valmet Automotive entered into a partnership focused on electronic automotive solutions with Contemporary Amperex Technology Limited (CATL), a leading global provider of battery and energy storage solutions. This was followed in February 2017 by the acquisition of an automotive engineering company in Germany employing approximately 800 people in locations next to the leading OEMs. Following this expansion Valmet Automotive now employs circa 1,000 engineers in Europe.

The aim of building up a strong engineering team and the CATL partnership is to move Valmet Automotive closer to its key customers and become a significant European player in the rapidly evolving and fast growing electric vehicle domain. Our goal is to support the European automotive OEMs, their suppliers and selected industrial customers by engineering electric vehicle drive train solutions, integrating them into vehicles and supplying batteries. The unique assets of Valmet Automotive also offer the capability to support complete vehicle engineering, the manufacturing of vehicles and automotive roof solutions.

In vehicle manufacturing Valmet Automotive has successfully built a strong relationship with Daimler through manufacturing both the A-class car and GLC SUV in high volumes in Uusikaupunki, Finland. During 2017 Valmet Automotive manufactured a record number of vehicles. This followed the successful completion of our biggest ever recruitment campaign and extensive development of the Uusikaupunki plant. It is now the largest single site factory operation in Finland, employing over 4,000 people. Such a steep ramp-up of operations in Uusikaupunki did not produce, due to operational issues, the financial results expected. However, Valmet Automotive did manage to deliver more cars to Daimler than they had initially expected. The partnership with Daimler sets a new milestone during 2018 as Valmet Automotive starts manufacturing an as yet unrevealed new Daimler car.

In order to realize the full potential of the Valmet Automotive’s updated strategy and new assets, the Board of Directors has decided to initiate a leadership transition. CEO Ilpo Korhonen steps down from his position January 29, 2018 and leaves the company February 28, 2018. The search for the new CEO is ongoing and in the interim the General Counsel, Minna Huhtaniska, will take on the Managing Director responsibilities of Valmet Automotive’s parent company.

– Valmet Automotive has gone through a significant transformation during the recent past. While the 2017 financial results are not satisfactory, the company has grown into a meaningful European player with expanded business scope and strong capabilities not only in Finland but also in Germany and Poland. We have the keys to the future in our own hands. In order to ensure successful execution of the strategy the Board has concluded that it is the right time to make a leadership transition, says Mr. Jarkko Sairanen, Chairman of the Board, Valmet Automotive.

– I am very proud what we have done over the decades at Valmet Automotive. The company has great talent and it has been a true honor to be part of our journey. I wish Valmet Automotive all the best in realizing its strategy and building the company into a true international player with a significant role in transforming the industry towards electric vehicles, says Mr. Ilpo Korhonen, departing CEO, Valmet Automotive.

– The entire Board and the employees of Valmet Automotive want to thank Ilpo Korhonen very warmly for his 30-years contribution through several roles and in particular for his very strong dedication to the company throughout the years, continues Mr. Jarkko Sairanen, Chairman of the Board, Valmet Automotive.

The owners of the company, Pontos, Tesi and CATL support Valmet Automotive’s measures in implementing the strategy.
– Valmet Automotive is in excellent position to become an increasingly important part of the European automotive industry through the electrification of mobility, says Mr. Timo Kokkila, CEO, Pontos.

Further information:
Jarkko Sairanen, Chairman of the Board
jarkko@sairanen.mobi
Requests for interviews through assistant Terhi Toivari +358 40 733 6929

Timo Kokkila, CEO, Pontos Oy
timo.kokkila@pontos.fi
+358 10 239 6359
@timokokkila

Jussi Hattula, Director, Growth & Industrial Investments, Tesi
jussi.hattula@tesi.fi
+358 40 066 9955
@TesiFII / @jussiha

 

Valmet Automotive is an experienced provider of automotive engineering, vehicle manufacturing, battery systems and convertible roof systems. Our special areas of expertise are premium cars, electric vehicles and convertibles. We employ 5500 professionals in Finland, Germany, Poland and Spain.
www.valmet-automotive.com and Facebook, LinkedIn, Twitter, YouTube

 

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