EURAZEO supporting UTAC CERAM’S development with the acquisition of MILLBROOK


Paris, February 2, 2021 – Eurazeo PME has been supporting UTAC CERAM (€83 million turnover in 2019), which works in close partnership with automotive and mobility companies, since September 2020, and is today announcing that UTAC CERAM has completed the acquisition of Millbrook, group headquartered in the UK. The investment of the funds managed by Eurazeo PME following this transaction amounts to c.115 million euros.

Millbrook (£83 million turnover in 2019) was founded in 1970 in the United Kingdom and provides services and systems for testing and validating vehicles to customers in the automotive, transport, tire, petrochemicals and defense sectors, with a presence in three continents (in Europe, the United States and China). The company serves over 500 customers including some of the world’s largest vehicle, tyre and systems’ manufacturers such as Jaguar Land Rover, Bentley, Michelin, Volkswagen or Linamar.

In a market that is growing and consolidating, the combination with Millbrook represents a new milestone in UTAC CERAM’s development. This strategic acquisition forms part of the Group’s growth efforts, doubling its revenue with a common turnover expected to reach c. €180 million in 2021, and strengthening its position in new technologies: e-GMP, electrification, connected and automated vehicles, ADAS, cybersecurity and simulation. The deal fits perfectly with the Group’s policy, which is based on innovation and market consolidation, both in Europe and worldwide.

The new entity, chaired by Laurent Benoit, is transforming its governance arrangements to meet the most demanding criteria and to ensure performance, growth and innovation. As a result, the new Group is setting up an executive committee consisting of: Connor McCormack and Christophe Perge, both Executive Vice-Presidents, Andrew Nelson, Chief Financial Officer and General Secretary, and Laurent Midrier who is joining the Group as Chief Strategic Officer and who will have particular responsibility for the new Group’s integration plan and its M&A strategy.

Pierre Meignen, member of Eurazeo PME’s Executive Board, said:
“We are very proud to support UTAC CERAM in this new project. The acquisition of Millbrook represents a major milestone in the Group’s recent history and showcases its focus on creating value for customers, employees and shareholders. This deal embodies the key characteristics we look for when investing. It involves a market-leading company that is growing rapidly and is highly profitable, operating in a promising industry with a close-knit management team, and it offers us, as investors, the opportunity to support the new entity’s development plan.

The acquisition of Millbrook by UTAC CERAM is a very good example of Eurazeo PME’s expertise and commitment to support the acceleration of its portfolio companies’ development, notably in their international expansion”

Laurent Benoit, CEO of UTAC CERAM, added:
“Millbrook’s teams are driven by a great desire for innovation and development. Their integration is excellent news for our customers, who will derive even greater value from their collaboration with our group. By strengthening our consultancy expertise and by helping us to add services in new technologies, Millbrook will bolster our new group to confirm its leading position in development and validation testing, automotive homologation and new technologies related to autonomous, connected and electric vehicles. We are grateful for the support of our main shareholder Eurazeo in completing the acquisition.”

About Eurazeo
• Eurazeo is a leading global investment company, with a diversified portfolio of €18.8 billion in assets under management, including €13.3 billion from third parties, invested in over 430 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering in-depth sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.

• Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
• Eurazeo is listed on Euronext Paris.
• ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

Categories: News


FSN Capital V* has signed an agreement to acquire 100% of TASKING

Fsn Capital


FSN Capital V* has signed an agreement to acquire 100% of TASKING, a leading provider of software tools for autonomous driving development, from Altium Limited.

TASKING offers high-performance, embedded software development tools for automotive OEMs and Tier 1 suppliers. Its strategic partnerships with semiconductor manufacturers, OEMs, and suppliers makes TASKING a leading player in the embedded software development industry for advanced driving assistance systems (ADAS) and autonomous driving.

TASKING provides complete development environments that allow software engineers to create reliable, safe, and high-performance embedded software applications. Over 50,000 engineers around the globe rely on TASKING compilers and debuggers every day for their development needs and millions of cars are running on code developed with TASKING’s tools.

Robin Mürer, Partner at FSN Capital Partners (investment advisor to the FSN Capital Funds) , commented: “The automotive industry is seeing a fundamental shift to software powered capabilities – not least to achieve autonomous driving over time. At the same time, the requirements and regulations for software in automotive applications are disparately higher than in most other industries. TASKING is a market-leader in development tools for safe, secure and performant software development. We are excited to partner with Franz Maidl and the highly skilled TASKING team in Germany, the Netherlands, Russia, the US, China, India and Japan as we see opportunities to expand TASKING’s product range and drive their presence with customers around the world.”

Franz Maidl, GM at TASKING, said: “The acquisition will establish TASKING as a leading independent software provider for safety critical applications. FSN Capital will provide TASKING with the flexibility to fuel our many growth opportunities as a standalone company.  The backing of FSN Capital is testament to the tremendous track record our products and employees have delivered so far, as well as the growth opportunity and demand in our markets.  The entire TASKING team is thrilled to continue the journey together and is looking forward to a bright future for our solutions, our team, and especially our customers”. 

The transaction was executed on a proprietary basis by FSN Capital V. It is subject to approval from applicable authorities.

To learn more about the company, please go to:

FSN Capital V was advised by McKinsey, Altos Advisors, PwC, Latham Watkins, Crosslake International, Frank Partners and Marsh.

* FSN Capital GP V Limited acting in its capacity as general partner for and on behalf of each of FSN Capital V L.P., FSN Capital V (B) L.P. and FSN Capital V Invest L.P. 

For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds):

Robin Mürer, Partner 

Morten Welo, Partner & COO/IR

This Press Release does not constitute an offer or solicitation in any jurisdiction to invest in FSN Capital VI and should not be considered to be an invitation or inducement to engage in any investment activity.

Categories: News


AddEnergie secures $53M financing to accelerate the expansion of its North American EV charging network


AddEnergie Technologies Inc. (AddEnergie) is pleased to announce the first closing of its Series C financing round. The total commitments from this $53 million financing plan will enable the company to pursue its ambitious growth strategy and accelerate the expansion of FLO®, its North American electric vehicle (EV) charging network.

“Today’s announcement is a major milestone for AddEnergie and an important endorsement of our business strategy by new and existing investors” said Louis Tremblay, President and CEO of AddEnergie. “With this financing and following our successful launch in the United States we are now in a position to accelerate our growth across North America as the transition to EVs is gaining momentum and becomes increasingly recognized as playing a pivotal role in the global efforts to combat climate change.”

The new investor syndicate is led by Mackinnon, Bennett & Company Inc. (MKB), and includes Business Development Bank of Canada, Fonds de solidarité FTQ and Export Development Canada (EDC). In addition, the company is pleased to once again count on the long-time support of its existing investors Caisse de dépôt et placement du Québec (CDPQ) and Investissement Québec. The Company also recently entered into a new credit facility from National Bank of Canada’s Technology and Innovation Banking group.

“MKB is thrilled to have led this new investment round in AddEnergie and to support its exceptional management team. AddEnergie’s mission and strategy is at the nexus of the decarbonization, electrification and digitization of transportation. The company has a proven track record in key markets, a competitive value proposition and is well positioned for the next phase of its expansion. As a growth equity investor in next generation energy and transportation, we expect this investment to bring long term value to our portfolio and help accelerate the energy transition” said Antonio Occhionero, Partner, MKB.

“CDPQ has played a part in AddEnergie’s development since 2016, driven by the desire to support the company’s growth and expansion. We were there as they penetrated the Canadian and U.S. markets, and we are proud to reaffirm our commitment to AddEnergie as it pursues its expansion plan,” said Kim Thomassin, Executive Vice-President and Head of Investments in Québec and Stewardship Investing at CDPQ. “This investment aligns with our strategic priorities – not only does it support a Québec company’s international expansion, it allows us to increase our holdings in low-carbon assets, which is a benefit to everyone.”

“Québec is today considered a leader in the electrification of transportation, thanks to its numerous innovative companies like AddEnergie. We can be very proud of our cutting edge organizations that export our knowhow and activity contribute to the worldwide electric shift. The investment we are announcing today will accelerate AddEnergie’s growth and stimulate its international development” said Pierre Fitzgibbon, Minister of Economy and Innovation.

A plan to grow the company’s footprint and leadership in EV charging

Despite the current pandemic, AddEnergie was able continue its progression in 2020, deploying over 11,000 charging stations in the past 12 months and expanding the FLO network to cities like Los Angeles, Cincinnati and Toronto. The company is now in a position to bring its comprehensive approach to EV charging – which includes residential, workplace, fleets, commercial, public, fast charging and more – to a growing number of markets in North America. AddEnergie will also continue its sustained investments in R&D and market development in order to maintain its leadership as a dependable, market-leading network operator, while making sure it meets the evolving needs of EV drivers in the years to come.

About AddEnergie

AddEnergie is a leading North American charging network operator for electric vehicles and a major provider of smart charging software and equipment. Every month, AddEnergie charging stations and its FLO network enable approximately half a million charging events and the transfer of 5.5 GWh in electricity, thanks to 30,000 high-quality stations deployed on public networks, commercial and residential installations. AddEnergie’s headquarters and network operations centre are based in Quebec City, and its assembly plant is located in Shawinigan (Quebec). The company also has regional offices in Montreal (Quebec), Mississauga (Ontario), Vancouver (British Columbia) and Rochester (New York). For more information, visit

About MKB

MKB is a Montreal-based private investment firm that specializes in providing growth equity to the next generation energy and transportation sectors. MKB takes significant minority positions in its portfolio companies and proactively assists management teams in reaching their full potential. To learn more about MKB, visit

About Caisse de dépôt et placement du Québec

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

About Investissement Québec

Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.

Categories: News


J.D. Power acquires Trilogy Automotive

Thomas Bravo

Integration of Enterprise Lead Management Technology Adds Additional Capabilities to J.D. Power’s Autodata Solutions Division to Scale Digital OEM Offerings

TROY, Mich.: 20 Dec. 2019 — J.D. Power, a global leader in data analytics and consumer intelligence, today announced the acquisition of Trilogy Automotive, the automotive software division of Trilogy Enterprises. Trilogy’s SaaS-based enterprise lead management platform will be integrated into J.D. Power’s Autodata Solutions division’s original equipment manufacturer (OEM) digital dealer platform, expanding the capabilities and reach of its existing offering to better enable manufacturers and dealers to optimize retail lead management programs.

Trilogy Automotive provides enterprise level, SaaS-based automotive lead and digital management platforms, enabling OEMs and dealers to maximize the efficiency and effectiveness of their digital marketing spend. The platform improves coordination between OEMs, dealers and third parties, while generating real-time insights on consumer behavior.

“Trilogy Automotive has built one of the industry’s most powerful solutions for identifying high quality leads from the vast number of automobile shoppers, all while maintaining a seamless customer experience, continuity with OEM guidelines, and real-time insights for dealers and OEMs,” said Craig Jennings, President of the Autodata Solutions division at J.D. Power. “By integrating Trilogy’s capabilities with our existing OEM digital dealer platform, we will be able to create a robust suite of digital marketing platforms providing lead management, lead generation and digital management services to OEMs, Dealer Service Providers and Retailers.”

“I’m thrilled to lead the Trilogy Automotive team into our new partnership with J.D. Power and the Autodata team,” said Kim Irwin, President of Trilogy Automotive. “The Trilogy Automotive story is one of amazing growth, having expanded rapidly from a core group of employees who built the initial framework for our platform to become a leading technology company that supports some of the most prestigious brands in the automotive industry. I speak on behalf of the whole Trilogy Automotive team when I express how excited we are as we look forward to our next phase of accelerated growth.”

The Trilogy acquisition follows closely on the heels of J.D. Power’s merger with Autodata Solutions to create a market-leading provider of new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry. Trilogy Automotive will be integrated into the newly combined company’s Autodata Solutions division.

Trilogy Automotive senior leadership and employees will continue with the firm and will be integrated into J.D. Power’s Autodata Solutions division.

J.D. Power was advised by Atlas Technology Group and the law firm Kirkland & Ellis on the transaction. Trilogy Automotive was advised by Portico Capital, Ron Frey, and the law firms Jones & Spross and Cooley.

About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Troy, Mich.

About Trilogy Automotive
For over two decades, Trilogy has been revolutionizing the automotive industry through a combination of relentless innovation and a commitment to customer success. Trilogy Automotive’s patented technology solutions range from custom and client driven to turnkey configuration, design and lead management systems, and have powered leading automotive companies such as Ford, GM, Nissan, Chrysler, Toyota, Hyundai, Kia, Volvo, Jaguar and AutoNation.

Media Relations Contacts
Geno Effler
J.D. Power
Costa Mesa, Calif.

Shane Smith
PCG (East Coast)

Categories: News


J.D. Power to merge with Autodata Solutions, creating a Leading Source of Automotive Data, Analytic and Software Solutions

Thomas Bravo

Acquisition by Thoma Bravo Combines Two Innovative and Complementary Automotive Data Companies with Vision of Strengthening Their Value to Clients and Consumers

TROY, Mich., 16 Dec. 2019 – J.D. Power, a global leader in data analytics and consumer intelligence, today announced a merger with Autodata Solutions, a provider of data and software solutions for the automotive ecosystem. The merger marks the completion of J.D. Power’s acquisition by Thoma Bravo, a leading private equity firm, and owner of Autodata Solutions. The newly combined company will operate under the name J.D. Power and will offer market-leading new and pre-owned automobile transactional data, valuation tools, vehicle feature information and consumer analytics to the automotive industry. J.D. Power will also continue to provide industry leading benchmarks, analytics and customer insights across the Banking & Payments, Wealth & Lending, Telecommunications, Insurance, Health, Travel and Utilities sectors through its Global Business Intelligence division.

“The combination of J.D. Power’s deep data, analytics and customer experience insights with Autodata Solutions’ comprehensive vehicle feature data and dealer and manufacturer technology platforms will create a robust and insightful automotive industry resource for analyzing consumer demand and optimizing the vehicle sales process,” said Dave Habiger, who will continue as President and CEO of J.D. Power. “As the auto industry continues to be disrupted by changing patterns of consumer behavior and new technologies such as connected vehicles, electric vehicles, autonomous vehicles and ridesharing, we are building a company that will help the entire industry rise to the challenge.”

J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across more than a dozen different industries rely on J.D. Power data, research and insights to guide their customer-facing strategies, while consumers around the world look to J.D. Power ratings as the undisputed mark of quality.

In the automotive sector, J.D. Power is recognized for its Voice-of-the-Customer research and its Power Information Network (PIN) and Used Car Guide (UCG) products, which provide the industry with new and used car transaction information. The company has also pioneered the use of artificial intelligence (AI) capabilities to merge its vast database of consumer behavioral data, pricing information and “Voice of the Vehicle” telematics-based data into powerful predictive models.

Autodata Solutions provides Software as a Service (SaaS) and software solutions that range from back-end automation systems that enable dealer-to-original equipment manufacturer (OEM) vehicle ordering to data-driven, consumer-focused interactive marketing initiatives. Its Chrome-branded solutions increase the effectiveness of the automotive sales ecosystem and include rebates and incentives, Vehicle Identification Number (VIN) decode and describe, and vehicle configuration and comparisons.

Together, the two companies create a complementary set of capabilities that will strengthen the global automobile industry’s ability to forecast vehicle demand and shape strategic decision making.

“The joining of these two leading companies will enable the auto industry to make the process of configuring, ordering and selling cars more efficient, which can improve profitability and capital deployment,” said Scott Crabill, a Managing Partner at Thoma Bravo. “This capability is exactly the kind of proven, concrete insight the auto industry needs as it confronts changing consumer demands in a transforming technology environment.”

“The new J.D. Power delivers the authoritative ground truth and predictive intelligence the automotive industry so desperately needs right now to stay in sync with changing patterns of consumer behavior, rapid-fire technological change and a challenging macroeconomic environment,” said Craig Jennings, former President and CEO of Autodata Solutions, who will continue as President of the Autodata division in the newly combined J.D. Power. “By pairing our platform with J.D. Power’s deep data and analytics capabilities, we’re going to be able to take the guesswork out of the manufacturing and floor planning process, helping manufacturers and dealers drive maximum impact and profitability by getting the new vehicle formula just right. We are excited to be joining the J.D. Power team to make that vision a reality.”

In addition to the investment by Thoma Bravo, J.D. Power’s existing management team will reinvest their ownership interest in the newly combined company. All of the current Autodata Solutions and J.D. Power employees will have the opportunity to take an ownership stake in the company.

The headquarters for the combined company will be in Troy, Mich.

About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $35 billion in capital commitments, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as ABC Financial, Blue Coast Systems, Deltek, Digital Insight, Frontline Education, Global Healthcare Exchange, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, Sparta Systems, TravelClick and Veracode. The firm has offices in San Francisco and Chicago.

About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Troy, Mich.


Media Contacts

Megan Frank
Thoma Bravo

Shane Smith
PCG (East Coast)


Categories: News


AURELIUS portfolio company Hellanor AS renamed NDS Group – Nordic Distribution and Service Group

Aurelius Capital

  • New branding marks important milestone in the modernization of the company
  • Aspiration to be a Nordic one-stop-shop with highest customer orientation

Munich, 12 June 2019 – Hellanor AS, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), will be renamed NDS Group after its carve-out from the Hella Group. The rebranding of the Norwegian automotive aftermarket wholesaler taken over by AURELIUS in December 2018 marks an important milestone in the complete renewal and modernization of the company. The rebranding will be completed by early August 2019. All services and deliveries will continue unchanged during this period.

“Our customers become best in their business”, is the core vision and stands for the high customer orientation of the wholesale solution & service provider. Janno Gröne, CEO of NDS Group: “The NDS Group will be a reliable and professional partner helping its customers to be ready for the future. In September 2019 we will launch a specialized ERP system for Automotive Workshops, which demonstrates our position as an innovative solution provider in the technical distribution space. It is our mission to grow a sustainable and innovative business to the benefit of all partners. As a fast and agile company with passionate employees we will help of customers be the best and create high customer value in the Nordic region.”

After the carve-out from the Hella Group the company has been streamlined and turned into a dynamic stand-alone business. The comprehensive development and investment plan includes the launch of a new B2B order platform, a CRM system and the modernization of the logistic set-up. NDS is launching a private label range and established its own sourcing platform in Far- East. The workshop equipment division “Automateriell” has expanded into the Heavy-Duty sector winning one of the biggest contracts in the market.


NDS is the second largest automotive aftermarket wholesaler in Norway, with its headquartered in Skytta near Oslo. NDS supplies its customers, typically automotive workshops, car dealerships and local wholesalers, with spare parts from its central warehouse in Skytta as well as from 19 branches across the country. In addition, NDS offers workshop franchise concepts to its clients under its own AutoMester brand as well as for third-party concepts such as Bosch Car Service. Within its AutoMateriell business segment NDS supplies workshop equipment of leading equipment OEMs such as John Bean and MAHA.

Categories: News


BDC takes minority stake in SaaS software and digital solutions provider bee2link


Xavier Cotelle, founder and CEO of bee2link – a publisher of SaaS software and digital solutions for automobile players – has announced that Bridgepoint Development Capital (BDC), the smid-cap division of the international private equity group, Bridgepoint, has taken a minority shareholding. The terms of the transaction are confidential.

Supported by BDC, Xavier Cotelle and his team will continue to develop bee2link, focusing particularly on the company’s European expansion. Xavier Cotelle and the management team reinvested significantly in the transaction and will continue to manage bee2link.

bee2link is a high growth company supporting the digital transformation of the automotive retail sector. A pioneer in SaaS digital platforms and applications publishing, bee2link has enjoyed a favorable environment since its creation in 2012 and draws on the experience of its managers in automotive retail, dealerships, management/finance and ICT. Its transversal solutions – Applications open to third-party systems (APIs) – seek to digitize business processes and the customer journey and target a client base of manufacturers (OEM), groups and automobile dealerships.

Thanks to the excellent results of its solutions, bee2link has equipped the leading manufacturers in France since 2013 and is also present in Belgium and Switzerland since 2018.

bee2link is growing steadily and has ambitions to become a leading European player within five years by: (i) capitalizing on its success with leading automobile manufacturers and deploying its solutions in new European subsidiaries, (ii) expanding through both internal and external growth and entering new automobile market segments, and (iii) bolstering its position as a key market supplier through its strong technical expertise, recently strengthened by the use of artificial intelligence.

Xavier Cotelle, founder and CEO of bee2link said: “We entrusted SODICA Corporate Finance, the mergers and acquisitions arm of the Crédit Agricole Group, with finding a leading international partner to accelerate our European expansion project. Bridgepoint, through its investment portfolio of market leaders, stood out for its sector expertise and the operating quality of its team. Our shared values, essential to both our companies, convinced us they were the right choice for this project. This partnership will be a winning force, allowing us to roll-out our success in France and across Europe.”

Olivier Nemsguern, Managing Partner of BDC in France added: “In a rapidly changing automobile market, bee2link is a pioneer in the digitalization of automotive retail businesses. Its solutions cover the entire value chain and are extremely popular with leading global manufacturers. We’re delighted to partner with bee2link’s management team, at the cutting-edge of digital innovation in the automobile industry. With our international network and additional financial resources, our aim to assist the company in accelerating its European expansion”.


About Bridgepoint Development Capital (BDC)

Bridgepoint Development Capital (BDC) focuses on transactions ranging between €30 million and €200 million.

Backed by a team of 27 professionals in Europe (including nine in Paris), Bridgepoint Development Capital (BDC) is one of the very few investors in the “Smid-cap” segment able to support the international development of mid-cap companies, thanks to support from nine Bridgepoint investment offices as well as operational support teams based in New York, San Francisco and Shanghai.

Advisers in this transaction included:

For the company and shareholders: SODICA Corporate Finance

For BDC: Alantra; Mayer Brown; Deloitte; Eleven Strategy; Mckinsey; PwC.

Unitranche financing was provided by Idinvest.

Scout24 Welcomes the Takeover Offer and the Strategic Partnership with Hellman & Friedman and Blackstone

Hellman & Friedman

BERLIN, Germany and MUNICH, Germany

• Voluntary public takeover offer with a price of EUR 46 per Scout24 share in cash
• Management Board and Supervisory Board welcome the offer
• Investment agreement regarding strategic partnership signed

Today, Scout24 AG (“Scout24”), a leading operator of digital marketplaces specializing in real estate and automotive sectors in Germany and other selected European countries, and Pulver BidCo GmbH (“BidCo”), a holding company jointly controlled by funds advised by Hellman & Friedman LLC and affiliates of The Blackstone Group L.P., have signed an investment agreement forming a strategic partnership. BidCo has announced to pursue a voluntary public takeover offer for all Scout24 shares with a price of EUR 46.00 per Scout24 share in cash (“Takeover Offer”).

The Takeover Offer implies an equity value of Scout24 of approximately EUR 4.9 billion and an enterprise value of approximately EUR 5.7 billion. The offer price represents:
• ca. 27.4% premium to the unaffected share price of EUR 36.1 on December 13, 2018
• ca. 24.4% premium to the unaffected 3-month-volume-weighted average share price of EUR 37.0[1]

The Takeover Offer will be subject to a minimum acceptance threshold of 50% plus one share. Furthermore, the Takeover Offer will be subject to a market MAC (no decline of the DAX 30 by more than 27.5%) and other customary conditions, in particular merger control clearance.

Subject to the careful review of the offer document and their statutory fiduciary duties the Management Board and the Supervisory Board of Scout24 welcome and support the Takeover Offer and the strategic partnership given (i) the significant premium offered to shareholders and (ii) the favorable investment agreement signed today. Hellman & Friedman and Blackstone are value-add and trusted partners of Scout24 which share the long-term ambitions and strategy for the company with the Management Board. Both Scout24’s Management Board and Supervisory Board believe that the transaction is in the best interests of the company.

In compliance with their obligations under statutory law the Management Board and the Supervisory Board of Scout24 AG will release a reasoned statement regarding the Takeover Offer after receipt and review of the offer document. Furthermore, the members of the Management Board and the Supervisory Board, subject to applicable legal restrictions, have indicated that they will accept the Takeover Offer for shares in Scout24 AG held by them (if any).

Scout24 Chairman, Hans-Holger Albrecht, says: “We believe this is an attractive offer with a substantial premium, high transaction certainty and a strategic value-add for the company.” Commenting on the Takeover Offer, Tobias Hartmann, Scout24 CEO says: “Hellman & Friedman and Blackstone are known to Scout24 as trusted and long-term partners given their prior ownership and familiarity with the company. The terms of the offer represent an attractive opportunity for a highly strategic partnership that recognizes the quality of the Scout24 platform, its employees, customers and partners. I am delighted about our joint long-term vision and ambition to turn Scout24 into a leading European digital player.”

The offer document (once available) and other information relating to the public takeover offer will be made available by BidCo on the following website:

Morgan Stanley as financial advisor and Allen & Overy as legal advisor are advising the Management Board of Scout24. Citigroup as financial advisor and Gleiss Lutz as legal advisor are advising the Supervisory Board of Scout24.

About Scout24
With our leading digital marketplaces ImmobilienScout24 and AutoScout24 in Germany and Europe, we inspire people to make the best decisions when it comes to finding a property or a car. Scout24 bundles individual additional services, such as creditworthiness information, the brokerage of relocation services or construction and car financing, in the Scout24 Consumer Services business unit. More than 1,200 employees work on the success of our products and services. We focus on our users and create a networked offering for housing and mobility. Scout24 AG is a listed stock corporation and is traded on the Frankfurt Stock Exchange (ISIN: DE000A12DM80, Ticker: G24). Scout24 has been listed in the MDAX since June 2018. Further information is available at, on our Corporate Blog and Tech Blog or on Twitter and LinkedIn.

Media contact
Jan Flaskamp
Vice President Communications & Marketing
Fon +49 30 24 301-0721

Investor Relations
Britta Schmidt
Vice President Investor Relations & Controlling
Fon +49 89 44456-3278

This document has been issued by Scout24 AG (the “Company” and, together with its direct and indirect subsidiaries, the “Group”) and does not constitute or form part of and should not be construed as any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision, nor does it constitute a recommendation regarding the securities of the Company or any present or future member of the Group.

We advise you that some of the information is based on statements by third parties, and that no reliance may be placed for any purposes whatsoever on the information contained in this document or on its completeness. No representation or warranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith.

The information contained in this release is subject to amendment, revision and updating. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company’s or, as appropriate, senior management’s current expectations and projections about future events. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any information contained in this press release (including forward-looking statements), whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.

This document is not an offer of securities for sale in the United States of America. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person.

[1] The three months volume weighted average share price is calculated on the basis of daily Xetra closing share prices weighted by the daily trading volumes for the period ending on December 13, 2018.

Categories: News


Hellman & Friedman and Blackstone announce voluntary public tender offer for Scout24 AG


Attractive offer price of EUR 46.00 per share in cash
– Offer represents a premium of 27 percent to Scout24’s unaffected share price
– Offer subject to a minimum acceptance threshold of 50 percent plus one share
– Hellman & Friedman, Blackstone and Scout24 have signed an investment agreement as part of a strategic partnership; transaction supported by Management Board and Supervisory BoardMunich, 15 February 2019 – Pulver BidCo GmbH, a holding company jointly controlled by funds advised by Hellman & Friedman LLC (“Hellman & Friedman” or “H&F”) and affiliates of The Blackstone Group L.P. (“Blackstone”), today announced its decision to make a voluntary public tender offer to the shareholders of Scout24 AG (“Scout24” or the “Company”) (ISIN DE000A12DM80).Under the terms and conditions of the voluntary public tender offer, Scout24’s shareholders will receive EUR 46.00 per share in cash. This corresponds to a premium of 27 percent to the last unaffected share price of EUR 36.10 on 13 December 2018. The offer price represents a multiple of 2019e cash flow of approximately 28x, and puts a total equity value of EUR 4.9 billion and a total enterprise value of EUR 5.7 billion1 on the Company.

The completion of the offer will be subject to a minimum acceptance threshold of 50 percent plus one share and to certain customary conditions such as granting of merger control clearance. The transaction structure contains no financing or legal requirements to implement a domination agreement.

The terms and conditions of the voluntary public tender offer have been agreed in an Investment Agreement between H&F, Blackstone and Scout24. Both Scout24’s Management Board and Supervisory Board support the offer and believe that the transaction is in the best interest of the Company.

“We are very excited by the opportunity to re-engage with Scout24 and help the company build upon the historical success that we achieved together. We are strong believers in Scout24’s consumer-centric focus and look forward to working in close partnership with their agent and dealer customers to offer value-added marketing propositions as they continue to digitalise their business models,” said Blake Kleinman, Partner of Hellman & Friedman.

Patrick Healy, CEO of Hellman & Friedman, added: “We have known Scout24 for many years. We thank Hans-Holger Albrecht and the Supervisory Board as well as Tobias Hartmann and the entire Scout24 Management Board for their trust in entering a new partnership for the next phase of growth.”

“A majority shareholding by H&F and Blackstone will provide Scout24 with the stability needed to address future opportunities. Whilst Scout24 has an outstanding competitive position, it is now at an inflection point facing complex challenges including a dynamic market place and pending regulatory changes,” said Robert Reid, Senior Managing Director at Blackstone.

“Our offer provides full value to shareholders. We look forward to supporting the company in its next phase of development,” said Juergen Pinker, Senior Managing Director at Blackstone.

Under H&F and Blackstone’s previous ownership, Scout24 successfully transitioned into a leading European classifieds platform and enhanced its engagement with customers and consumers. Today, Scout24 is at an important juncture with pending regulatory changes and an increasingly dynamic competitive landscape. The Company will benefit from the stability and the support of a long-term anchor shareholder. H&F and Blackstone are fully committed to make the necessary investments in people, products and technology, and to support the Management Board in turning its strategic vision into reality.

With the support of H&F and Blackstone, Scout24 will be able to further strengthen its value proposition for its customers, seize long-term growth opportunities and retain its reputation as a highly attractive employer.

H&F and Blackstone are supported by J.P. Morgan as sole financial advisor and Freshfields Bruckhaus Deringer and Latham & Watkins as legal advisors.

Next steps
The public tender offer will be made on and subject to the terms and conditions set out in the offer document that is expected to be published in March 2019. The terms and conditions of the voluntary public takeover offer will be published in the offer document, publication of which is subject to permission by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, “BaFin”). Following such permission by BaFin, the offer document will be published in accordance with the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – WpÜG) and the acceptance period of the voluntary public takeover offer will commence. The offer document (once available) and other information relating to the public takeover offer will be made available on the following website:

About Hellman & Friedman LLC
Hellman & Friedman is a leading private equity investment firm with offices in San Francisco, New York, and London. Since its founding in 1984, H&F has raised over $50 billion of committed capital. The firm focuses on investing in outstanding business franchises and serving as a value-added partner to management in select industries including financial services, business & information services, software, healthcare, internet & media, retail & consumer, and industrials & energy. For more information, please visit

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 $472 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 Follow Blackstone on Twitter @Blackstone.

For further information, please contact:
Felix Schönauer HSC +49 160 986 048 62
Andrew Dowler Greenbrook +44 20 7952 2000

Important note:
This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of the Company. The definite terms and conditions of the public takeover offer, as well as further provisions concerning the public takeover offer, will be published in the offer document only after the German Federal Financial Supervisory Authority (BaFin) has granted permission to publish the offer document. The public takeover offer for shares in the Company has not yet commenced. Investors and holders of shares in the Company are strongly advised to read the offer document and all other relevant documents regarding the public takeover offer when they become available, since they will contain important information.

The public takeover offer will at a later time be issued exclusively under the laws of the Federal Republic of Germany, in particular according to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz) and certain applicable provisions of U.S. securities law. The public takeover offer documentation will additionally be published at Any contract that is concluded on the basis of the public takeover offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.

To the extent permissible under applicable law or regulation, Pulver BidCo GmbH and its affiliates or brokers (acting as agents for Pulver BidCo GmbH or its affiliates, as applicable) may from time to time before, during or after the period in which the public takeover offer remains open for acceptance, and other than pursuant to the public takeover offer, directly or indirectly purchase, or arrange to purchase, shares of the Company, that may be the subject of the public takeover offer, or any securities that are convertible into, exchangeable for or exercisable for shares of the Company. Any such purchases, or arrangements to purchase, will comply with all applicable German rules and regulations and Rule 14e-5 under the U.S. Securities Exchange Act to the extent applicable. Information about such purchases will be disclosed in Germany to the extent required by applicable law. To the extent information about such purchases or arrangements to purchase is made public in Germany, such information also will be deemed to be publicly disclosed in the United States. In addition, the financial advisors to Pulver BidCo GmbH may also engage in ordinary course trading activities in securities of the Company, which may include purchases or arrangements to purchase such securities.

Categories: News


GTI acquires Precision Specialized, a division of Precision Truck Lines


Montreal, February 11, 2018 – GTI Transport Solution Inc (“GTI”), a leading provider of open-deck, specialized and over-dimensional freight services, a Novacap-backed company, announces it is acquiring Precision Specialized Division Inc. (PSD), a division of Precision Truck Lines Inc. Located in Woodbridge, Ontario, PSD is a leader of open-deck and heavy haul transportation in the province. All employee positions at the division, including management roles, will be maintained. GTI plans to invest in the company’s growing operations by expanding into new markets. This will begin with all operations moving to Brantford, Ontario and a unified name change to Precision Specialized Inc (“PSI”).

GTI acquires Precision Specialized, a division of Precision Truck Lines

“The team at Precision Specialized has demonstrated market leading know-how in quality of service and engineering of complex project driven loads,” says Richard Lafrenière, CEO of GTI. “We firmly believe that blending their expertise with the broad footprint of GTI will enable us to drive growth and become the preferred open-deck/heavy haul transportation company in North America.”

“This acquisition is a continuation of GTI’s strategic plan to expand its current capabilities and geographic reach,” says Frédérick Perrault, Senior Partner of Novacap. “Combined with the launch of GTI USA in 2018 and other acquisitions in the pipeline, we are very enthusiastic about the group’s future.”

Ed Bernard, former VP of Precision Specialized Division Inc. will continue in his current role and more, now serving as President of Precision Specialized Inc. Mr. Bernard adds, “Precision Specialized is proud to be joining forces with GTI to propel our company to the next phase of its growth. A team of seasoned managers will bring valuable expertise and an injection of fresh capital will enable us to better serve our customers across North America. Moving operations 60 miles to Brantford gives us much needed space for our growing equipment assets.”

“This transaction is a win-win for us,” says Ravi Annand, Vice-President & CFO of Precision Truck Lines, “It will allow a great division we have built up over the last decade to continue its growth plan and allow Precision Truck Lines to focus on its core activities of TL and LTL Transborder transportation.”


About GTI

GTI Transport Solutions (“GTI”) specializes in open-deck, heavy haul and over dimensional transportation services while also offering specialty storage, logistics and freight forwarding services. GTI has fully equipped transportation terminals in Quebec and Ontario and 300,000 sq.ft. of specialized warehousing. For further information, visit


About Precision Truck Lines

Precision is a family-based business that combines state-of-the art trucking technology with old-fashioned business values to ensure our customers’ project needs are met and their expectations are exceeded. With a commitment to hard work, teamwork, honesty, and exceptional customer service, Precision has grown steadily into one of the best managed transportation companies in North America. For further information, visit


About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with $2.3 billion of assets under management. Novacap’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit

Source: Novacap / GTI 

Media contacts:

For Novacap and GTI:

Valérie Gonzalo

AGO Communications


Categories: News