Bayer Environmental Science Professional (BESP) is a leading global provider of products and services to create healthier environments, to manage pests, and to eliminate vector-borne diseases, across a range of end-markets. BESP has an extensive product portfolio to manage pests (such as rodents, pest insects and invasive weeds) in a sustainable and responsible manner, including for the vegetation management, range and pasture, forestry and turf and ornamentals markets. In addition, BESP markets products to protect against vector-borne diseases such as malaria, and to promote public health objectives in the developing world.

Headquartered in Cary, North Carolina, USA, BESP has global operations with c. 800 employees and c. 2,000 product registrations, sold in more than 100 countries. BESP also has market-leading R&D capabilities, with four international R&D centres and more than 200 employees working in product innovation.

Cinven has longstanding relationships with large corporates in the Industrials sector, particularly in Germany and the DACH region, and an extensive track record of carving out businesses responsibly for all stakeholders, allowing Cinven to identify attractive opportunities and create new successful standalone companies.

Cinven’s Industrials Sector and DACH teams see BESP as an attractive investment opportunity, given the business’:

• Resilient, growing and diversified end-markets, addressing an increasing societal demand for pest control and healthier, disease-free environments driven by higher living standards, urbanisation and climate change;
• Leading market positions, underpinned by its strong science-led R&D capabilities, regulatory and Intellectual Property (‘IP’) protections;
• Strong brands with an opportunity to accelerate organic growth through expansion into new geographies and new market segments;
• Product portfolio with clear social and environmental benefits, consistent with the focus of Cinven’s ESG strategy, including products for improving public health outcomes, fighting vector-borne disease, controlling pest infestations, and reducing wildfire risks;
• Longstanding relationships with professional customers, supported by its leading technical service capabilities;
• Significant growth opportunities through further investment in R&D and in-licensing external IP to develop new sustainable products for pest management, including biological and digital technologies;
• Consolidation opportunities in the fragmented specialty pest management sector through buy and build M&A; and
• Experienced international leadership team, led by CEO Gilles Galliou, with responsibility for a highly qualified, high-performing global employee base.

Pontus Pettersson, Partner at Cinven, commented:

“Cinven is delighted by the opportunity to invest in Bayer Environmental Science Professional, a global leader in specialty pest management that serves critical needs for society across a broad range of end-markets. Cinven is excited to build an independent, focused company, and to extend BESP’s product portfolio further by creating innovative and sustainable solutions for its customers.

“Following Cinven’s recent acquisitions of TK Elevator and Arxada, Cinven is confirmed as a preferred partner for large European corporates on significant disposals, especially within the Industrials sector. Bayer has been an exemplary custodian of the business, and we look forward to continued close collaboration between BESP and Bayer.”

Anthony Cardona, Partner at Cinven, added:

“Bayer Environmental Science Professional enjoys strong positions in multiple markets across the world, driven by its best-in-class scientific and regulatory teams, well regarded brands, and leading technical service capabilities. Cinven has been impressed by the quality of the team and operations, and this transaction should create significant opportunities across the business.

“Cinven shares management’s ambitious growth agenda and views BESP as a platform investment, with scope to grow the business significantly and broaden its product portfolio through acquisitions and strategic partnerships.”

Gilles Galliou, CEO of BESP, added:

“Everything we do at Environmental Science Professional is guided by our vision of healthy environments for everyone everywhere. Cinven clearly shares this vision for our organisation and Cinven has demonstrated that it is committed to the long-term success of our business and would be a great home for our employees.

“With the support and backing of Cinven, I am thrilled for the opportunity for Environmental Science Professional to become even more growth-oriented, with a full focus on advancing innovations that meet the unique and evolving needs of our customers around the world.”

Cinven is one of the leading investors in carve-outs from Industrial companies in Europe. The Cinven funds’ investment in BESP, acquired from the German-listed Bayer AG, builds on its recent experience of carving out TK Elevator from thyssenkrupp AG and Arxada (formerly Lonza Specialty Ingredients) from Lonza Group AG.

Cinven is also one of the most active and successful investors in Germany and the wider DACH region. Other recent investments of Cinven funds in Germany include STADA, Synlab, think-cell and Viridium.

Cinven is a responsible, ESG-focused investor, and committed to maintaining the environmental, regulatory and employee stakeholder responsibilities of BESP. Under the Cinven funds’ ownership, BESP will remain an important partner of Bayer AG and will collaborate closely with Bayer going forward in several areas.

Following the completion of this transaction, Cinven and the Fressnapf Group will combine Arcaplanet with Maxi Zoo to create the Arcaplanet Group.

Headquartered in Italy, Maxi Zoo Italia was founded in 2005. As part of the Fressnapf Group its first store opened in Treviso, Veneto region, in 2005 and Maxi Zoo is now present in 12 regions across Italy with 144 stores, an online presence and revenue of over 193 million euros in 2021.

Headquartered in Italy, Arcaplanet was founded in 1995. Its first store opened in Chiavari, Liguria, in 1998 and Arcaplanet is now present in 17 regions across Italy with nearly 400 stores, a strong online presence and revenue of over 400 million euros in 2021.

The combined Arcaplanet and Maxi Zoo Italia businesses (together the ‘Group’) will be offering food and non-food pet care products in c. 500 stores across Italy and online.

Cinven was attracted by the opportunity as Arcaplanet is a strong and well-recognised pet care brand with an excellent customer proposition. Cinven aims to accelerate the Group’s growth both in the Italian market and new geographies. Online penetration of pet care in Italy is fast-growing and there is considerable potential to accelerate and improve the Group’s digital and omnichannel strategy.

Cinven has significant expertise in the pet care market through the Cinven funds’ investment in Partner in Pet Food, a leading European pet food platform and market consolidator.

Plantagen has acquired Flyinge Plantshop, which is one of the leading nurseries in Sweden and renowned for its expertise, quality and service. The company’s sales, of which more than 50% derives from corporate customers, amounted to SEK 82m in 2021, with an EBITDA of SEK 12m. The acquisition broadens the product offering and customer base in Plantagen. Plantagen is now strengthening its position as the leading garden centre for private and corporate customers within the private and public sectors.

“Add-on acquisitions of this kind are entirely in line with Ratos’s strategy. Flyinge is a well-managed family company, where the focus is on quality and a long-term approach. The acquisition will lead to synergies and contribute to the continued development of Plantagen, primarily through the unique range and expansion toward corporate customers,” says Anders Slettengren, Chairman of the Board of Plantagen and President Business Area Consumer, Ratos.

The acquisition of Flyinge Plantshop is a step in Plantagen’s work to acquire locally and regionally attractive garden centres which, with genuine professional know-how and an attractive range, appeal to both private and corporate customers in the private and public sectors.

“Our vision is to be the Nordic region’s loveliest greenhouse. This entails offering inspiration, expertise and tools to succeed in a growing life. Our focus has been weighted toward private customers and going forward, we will increase our efforts to offer corporate customers and public administrations products and services. Over the past century, the Seger family has created a first-rate company and now we are looking forward to continuing to develop the business together,” says Nina Jönsson, CEO of Plantagen.

The former owner of Flyinge Plantshop for four generations, the Seger family, will remain a driving force in the business at Flyinge. Flyinge Plantshop will continue to operate under its own brand. Closing will take place on 1 March 2022.

For further information:
Anders Slettengren, Chairman of the Board of Plantagen and President Business Area Consumer, Ratos +46 72 589 89 00
Nina Jönsson, CEO, Plantagen, +46 72 077 44 20
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 35 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

February 22, 2022

Toronto, ON, February 17, 2022 – ONCAP today announced it has purchased a majority stake in Merrithew International Inc. (“Merrithew” or the “Company”), in partnership with the Company’s founders, Lindsay and Moira Merrithew.

Merrithew is a global leader in mindful movement as one of the largest developers, manufacturers and retailers of Pilates equipment, accessories, content and education worldwide. The Company’s innovative education and certification programs for fitness instructors operate under several global brands including STOTT PILATES®, ZEN•GA®, Total Barre®, Halo® Training, Merrithew Fascial Movement, and CORE™ Athletic Conditioning and Performance Training™. Founded in 1988 and headquartered in Toronto, Ontario, Merrithew has trained more than 60,000 instructors and partners worldwide since inception.

“Today’s announcement marks an exciting new chapter for Merrithew’s continued global growth and expansion with the support of ONCAP,” said Lindsay G. Merrithew, President & CEO of Merrithew. “ONCAP’s impressive track record backing founder-owned businesses gave our family the utmost confidence they are the ideal partner for us.”

“Merrithew is recognized by consumers globally for its high-quality and innovative equipment, accessories and education courses and content, with an unparalleled commitment to exceptional customer service,” said Wole James, a Managing Director with ONCAP. “We are delighted to be partnering with Lindsay, Moira and the Merrithew team to further build on the Company’s tremendous success and global expansion through a variety of organic and acquisition growth initiatives.”
The investment was made by ONCAP IV, Onex Corporation’s (TSX:ONEX) $1.1 billion fund. The terms of the transaction are not being disclosed at this time.

About ONCAP
ONCAP is the mid-market private equity platform of Onex. In partnership with operating company management teams, ONCAP invests in and builds value in North American headquartered small- and medium-sized businesses that are market leaders and possess meaningful growth potential. For more information on ONCAP, visit its website at www.oncap.com.
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional investors and high net worth clients from around the world. Onex’ platforms include: Onex Partners, private equity funds focused on mid- to large-cap opportunities in North America and Western Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment grade debt through tradeable, private and opportunistic credit strategies as well as actively managed public equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of September 31, 2021, Onex has approximately $47 billion of assets under management, of which approximately $7.9 billion is its own investing capital. With offices in Toronto, New York, New Jersey, Boston and London, Onex and its experienced management teams are collectively the largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

About Merrithew
Merrithew™ is the global leader in mind-body education, content and equipment. Founded in 1988, the company has trained more than 60,000 instructors and partners worldwide, developed six innovative education programs— STOTT PILATES®, ZEN•GA®, Total Barre®, Halo® Training, Merrithew Fascial Movement and CORE™ Athletic Conditioning & Performance Training™— and has produced an extensive line of professional and at-home equipment and accessories for personal and professional use.
In 2020, Merrithew launched Merrithew Connect™, a video streaming platform featuring new and signature Pilates, fitness and mind-body workouts, training and education from its internationally-recognized team of presenters. For more information, visit www.merrithew.com.

For Further Information:
Onex
Jill Homenuk
Managing Director – Shareholder
Relations and Communications
Tel: +1 416.362.7711
Merrithew
Meghan Gogan
Vice President, Marketing and
Communications
Tel: +1 647.725.0960

17 Feb 2022

Austin, Texas, February 11, 2022 – An affiliate of Peak Rock Capital (“Peak Rock”), a leading middlemarket
private investment firm, announced today that it has completed an acquisition of Ziyad
Brothers (“Ziyad” or the “Company”), in partnership with the Company’s management team and the
Ziyad family.

Ziyad is a leading omni-channel provider of branded Middle Eastern and Mediterranean foods. The
Company has a 50-year track record of delivering a diverse product portfolio of over 800 SKUs to
thousands of customers, including local specialty grocers, supermarkets, national accounts, and ecommerce
platforms. Headquartered in Chicago, with additional facilities in New Jersey and
California, Ziyad has earned a strong reputation for its exceptional portfolio of brands, reliable service,
national distribution, deep relationships, and category expertise.
Steve Martinez, President of Peak Rock, said, “Ziyad represents a unique opportunity to invest in an
exceptional business and team that has differentiated itself as the unparalleled authority on Middle
East and Mediterranean cuisine. Ziyad’s history of service and dedication to its partners’ and
customers’ success, coupled with its strong and consistent track record of growth, make it an ideal
platform investment for Peak Rock. We are looking forward to partnering with the Company to
accelerate the execution of strategic growth investments.”

Nassem Ziyad, commented, “For generations, our family has been proud to serve our brand partners,
retail customers, and local communities. After an exhaustive search, it was clear that Peak Rock was
the right partner as we begin this next growth phase. Peak Rock truly understands our business, our
heritage, and our dedication to supporting our partner brands and customers. We look forward to our
partnership, which will position Ziyad for continued rapid growth across products, brands, and
retailers.” In conjunction with the transaction, Nassem Ziyad has been named as the Company’s Chief
Executive Officer.

“This transaction further exemplifies Peak Rock’s deep experience investing in founder and familyowned
businesses and highlights our continued interest in attractive investments in the food, beverage,
and distribution sectors. We continue to seek consumer-oriented platforms and acquisitions that we
believe could benefit from our ability to drive rapid growth and expansion,” added Anthony
DiSimone, Chief Executive Officer of Peak Rock.
The acquisition of Ziyad represents Peak Rock’s thirteenth investment in the food, beverage and
consumer industry in recent years.
CG Sawaya Partners served as financial advisor and Kirkland & Ellis LLP served as legal advisor to
Peak Rock on this transaction.

ABOUT ZIYAD
Ziyad is a leading omni-channel provider of branded Middle Eastern and Mediterranean food and
beverage products. Founded as a small bakery in 1966 in Chicago, Ziyad now owns numerous brands
and partners with dozens of world-class companies on an exclusive basis to deliver their brands to the
North American market. For more information on Ziyad, visit us online at www.Ziyad.com.

ABOUT PEAK ROCK CAPITAL
Peak Rock Capital is a leading middle-market private investment firm that makes equity and debt
investments in companies in North America and Europe. Peak Rock’s equity investment platform
focuses on opportunities where it can support senior management to drive rapid growth and
performance improvement, with expertise in corporate carve-outs and partnering with families and
founders seeking first-time institutional capital. Peak Rock’s credit platform invests across capital
structures, with a broad mandate to provide flexible, tailored capital solutions to middle-market and
growth-oriented businesses. Peak Rock’s real estate platform makes equity and debt investments in
small to mid-sized real estate assets in attractive, growing geographies. For further information about
Peak Rock Capital, please visit www.peakrockcapital.com.

Media Contact:
Daniel Yunger
Kekst CNC
(212) 521-4800
daniel.yunger@kekstcnc.com