Tag Archives: Consumer brands

Platinum Equity and Butterfly to Acquire Rise Baking Company

Platinum

Leading operational private equity firms partner to accelerate Rise’s next chapter of growth

LOS ANGELES, CA – September 17, 2024 – Global investment firm Platinum Equity and Butterfly, a Los Angeles-based private equity firm specializing in the food sector, today announced the acquisition of Rise Baking Company (“Rise”).

Platinum Equity and Butterfly will be equal partners in the investment. Financial terms of the transaction were not disclosed.

Founded in 2013 and based in Minneapolis, Minnesota, Rise is a leading supplier of bakery products, including cookies, pies, cakes, icings, muffins, crispy bars, and more, to in-store bakeries and foodservice customers throughout North America. Rise will continue to operate under its current management team, led by Chief Executive Officer Brian Zellmer.

“We view Rise as an established leader with impressive scale and a strong foundation with a lot more room to grow both organically and through additional M&A. Beyond the quality of its products, we believe the quality of Rise’s people helps set it apart. The team’s creative spirit, deep understanding of market trends, and hands-on, in-store expertise provide its customers tremendous value. We look forward to deploying our financial and operational resources to help the company expand its reach.”

Jacob Kotzubei, Co-President, Platinum Equity

“We have built this company into one of the leading bakery platforms in North America thanks to the contributions of our incredible team over the years,” said Zellmer. “We welcome the opportunity to partner with Platinum Equity and Butterfly as we continue to grow Rise Baking Company to serve our customers as their total bakery partner.”

Rise has completed 10 acquisitions since its founding and today serves a blue-chip customer base with a well-diversified portfolio of bakery products. The company has created a scalable manufacturing and logistics network that allows it to effectively service national and regional accounts.

“We view Rise as an established leader with impressive scale and a strong foundation with a lot more room to grow both organically and through additional M&A,” said Platinum Equity Co-President Jacob Kotzubei. “Beyond the quality of its products, we believe the quality of Rise’s people helps set it apart. The team’s creative spirit, deep understanding of market trends, and hands-on, in-store expertise provide its customers tremendous value. We look forward to deploying our financial and operational resources to help the company expand its reach.”

“We are honored to partner with Brian and the full Rise team to support their expansion by turbo-charging growth both organically and through strategic acquisitions,” said Butterfly Co-Founder and Co-CEO Adam Waglay. “As a food-focused and operations-driven investment firm, we have taken a keen interest in the attractive bakery sector, and we are excited to bring our specialized expertise and deep food network to bear to help amplify and accelerate the company’s mission to Rise above its customers’ expectations one bite at a time.”

The transaction is expected to close in Q4 2024.

Rise was advised by Morgan Stanley & Co. LLC as lead financial advisor in addition to Harris Williams. Houlihan Lokey and Stifel are serving as financial advisors to Platinum Equity and Butterfly, and Bank of America Securities is providing financing for the acquisition. Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett are serving as legal advisors to Platinum Equity and Butterfly and Willkie Farr & Gallagher LLP is providing debt financing counsel.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 450 acquisitions.

About Butterfly

Butterfly is a Los Angeles, California-based private equity firm specializing in the food sector, spanning the entire food value chain from “seed to fork” via four key segments: upstream & processing, B2B service providers, multi-site and branded goods. Butterfly manages over $4 billion of assets to date and aims to generate attractive investment returns through deep industry specialization, a disciplined and data-driven investment process and a hands-on approach to portfolio transformation. For additional information about Butterfly, please visit its website at www.bfly.com.

About Rise Baking Company

Rise Baking Company, based in Minneapolis, MN, is a North American bakery manufacturer that produces a broad portfolio of products for in-store bakeries and foodservice customers, including leading national grocery chains, convenience stores, QSRs, and mass merchandisers. Rise operates with an unparalleled customer-first culture, resulting in best-in-class product innovation, quality, and service. Rise Baking Company believes “our finest ingredient is our people.” For more information, please visit risebakingcompany.com.

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Backed by Rivean Capital: TonerPartner Group Expands Market Leadership with Acquisition of Trensco and Its Brands HD Toner and HQ-Fit

Rivean
  • Creation of Germany’s largest online retailer for printer ink and toner
  • One million active customers and annual revenue exceeding €100 million

17 September 2024

Hattingen/Uelzen – The TonerPartner Group, a leading online retailer of printer ink and toner across Europe, is solidifying its market position through the strategic acquisition of Trensco. TonerPartner, based in Hattingen, has acquired 100% of Trensco GmbH & Co. KG, headquartered in Uelzen, along with its brands HD Toner and HQ-Fit. This acquisition creates the largest online retailer in Germany within this sector, with approximately one million active customers and annual revenue exceeding €100 million. The acquisition builds on TonerPartner Group’s expansion strategy, following its acquisition of the French company SAS Rousselle.com in 2021 and German company Druckerpatronen.de in 2022.

“HD Toner has cultivated an impressive number of loyal private and commercial customers. We see strong growth potential by leveraging optimized, AI-driven online marketing, enhancing procurement synergies, and introducing our ‘Green Line’ sustainable product range to HD Toner’s customer base,” said Morten Severon, CEO of the TonerPartner Group. He added, “With its sports and fitness products marketed under HQ-Fit, Trensco has successfully built a second pillar, which presents a valuable additional growth avenue for the TonerPartner Group.” He further confirmed that Trensco’s products will continue to be marketed under the established HD Toner and HQ-Fit brands.

“Partnering with the TonerPartner Group unlocks exciting new growth opportunities for Trensco. With TonerPartner Group’s strong brand portfolio, advanced sales platform, and extensive expertise, we are convinced that Trensco and its employees will continue to thrive” emphasized Anja and Patric Weiß, founders and managing directors of Trensco.

“The acquisition of Trensco underscores Rivean Capital’s continued commitment to expand the TonerPartner platform and its market position. This is yet another testimonial of our role as a partner for growth for SME companies. We are excited to support TonerPartner Group in this next phase of expansion” remarked Andreas Klab, Partner at Rivean Capital and Head of Rivean Capital’s German office. Rivean Capital has owned TonerPartner Group since 2021.

—

About Rivean Capital
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries, and Italy. Funds advised by Rivean Capital manage over €5 billion in assets. Since its founding in 1982, Rivean Capital has supported more than 250 companies in achieving their growth goals. For more information, visit www.riveancapital.com.

For Inquiries:

Rivean Capital
Maikel Wieland
Partner – Head of Investor Relations & Co-Investments
m.wieland@riveancapital.com
Phone: +41 43 268 20 30

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Altor divests 19.2% shares in SATS

Altor Fund III (Altor) announces the successful placement of 39,242,358 shares in SATS ASA (SATS), representing approximately 19.2% of the votes and share capital in SATS. The shares were divested through a club deal, at a selling price of NOK 18 per share for a total transaction size of approximately NOK 706 million.

In 2014, Altor and Tryghedsgruppen joined forces by bringing together the strongest and most respected brands in Nordic fitness with the goal to build a market in the Nordics.

“We have had a fantastic journey with the mangagement team and Tryghedsgruppen for the past 10+ years. We are impressed and proud of the many achievements and milestones that have been reached by the team at SATS. We are also thankful for the close partnership with Tryghedsgruppen all these years” said Tom Jovik, Principal at Altor.

About Altor

Since inception, the family of Altor funds has raised more than EUR 11 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Marshall, Vianode, Toteme, Raw Fury, Carnegie and OX2.

 

For more information visit www.altor.com

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X²O welcomes Waterland to join forces with Vendis Capital and Jan Ollevier in supporting continued growth

Vendis Capital

Waterland, a leading pan-European investor, has taken a majority share in X²O, the leading omni-channel retailer of visible bathroom equipment and furniture in the Benelux.

 

X²O was founded in 2004 by Belgian entrepreneur Jan Ollevier, who pioneered the innovative value-for-money B2C concept in Belgium and started the first showrooms in the Netherlands.  In 2016, Vendis Capital invested in X²O with its second fund and supported the management team in a rapid expansion in Belgium and the Netherlands, both offline and online. Recently the company opened its first showrooms in Germany. To support the strong growth to more than 50 showrooms in total today, the group implemented a new ERP system, and operates a state-of-the-art and sustainable logistic center.

Waterland takes a majority share in X²O, with a strategy to support its further international expansion. Both Vendis and Jan Ollevier reinvest a significant minority stake alongside Waterland. For Vendis, the deal is already the third investment from its €450m fund Vendis IV, that was raised earlier this year.

Peter Demets, CEO of X²O since 2018, comments on the new partnership: “We look forward to entering this new phase of growth with Waterland. Our company has significant experience collaborating with investors to achieve important milestones, and we are confident that Waterland’s strong track record and strategic approach make them the ideal partner for us. This carefully considered partnership ensures continuity, enabling us to further expand our presence and continue delivering superior value and experiences to our customers.

The transaction is subject to customary approval of the merger clearance authorities.

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X²O welcomes Waterland to join forces with Vendis Capital and Jan Ollevier in supporting continued growth

Waterland

Ghent (BE), 27 August 2024 – Waterland, a leading pan-European investor, has taken a majority share in X²O, the leading omni-channel retailer of visible bathroom equipment and furniture in the Benelux.

X²O was founded in 2004 by Belgian entrepreneur Jan Ollevier, who pioneered the innovative value-for-money B2C concept in Belgium and started the first showrooms in the Netherlands. In 2016, Vendis Capital invested in X²O with its second fund and supported the management team in a rapid expansion in Belgium and the Netherlands, both offline and online. Recently the company opened its first showrooms in Germany. To support the strong growth to more than 50 showrooms in total today, the group implemented a new ERP system, and operates a state-of-the-art and sustainable logistic center.

Waterland takes a majority share in X²O, with a strategy to support its further international expansion. Both Vendis and Jan Ollevier retain a significant minority stake alongside Waterland. For Vendis, the deal is already the third investment from its €450m fund Vendis IV, that was raised earlier this year.

Peter Demets, CEO of X²O since 2018, comments on the new partnership: “We look forward to entering this new phase of growth with Waterland. Our company has significant experience collaborating with investors to achieve important milestones, and we are confident that Waterland’s strong track record and strategic approach make them the ideal partner for us. This carefully considered partnership ensures continuity, enabling us to further expand our presence and continue delivering superior value and experiences to our customers.”

The transaction is subject to customary approval of the merger clearance authorities.

About X²O
X²O, headquartered in Ghent (Belgium), is an omni-channel retailer of visible sanitary equipment and furniture, focused on residential bathroom renovations. The company offers a broad assortment of high quality showers, bathtubs, furniture and similar products through a network of over 50 showrooms and web shops in Belgium, the Netherlands and Germany. X²O employs more than 300 people and generated around €180m revenues in FY23. www.x2o.be

About Vendis Capital
Founded in 2009, Vendis Capital is an independent private equity firm specializing in the consumer goods sector in Europe. In partnership with experienced entrepreneurs and managers, Vendis aims to invest in small to medium sized consumer companies to help them realise their potential for growth and value creation. Vendis invests in France, Belgium, the Netherlands, Germany, Italy and in the Scandinavian countries. The headquarters of Vendis Capital are in Diegem, Belgium. www.vendiscapital.com

Waterland press contact:
Marketing & Communications Manager
Laurence Van Doosselaere
T +32 479 77 57 68
vandoosselaere@waterland.be

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Balance Point Announces its Investment in SPS PoolCare

Balance Point Capital
Westport, CT, August 27, 2024 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P. and Balance Point Capital Partners V, L.P., is pleased to announce its investment in SPS PoolCare (“SPS”, or the “Company”), a portfolio company of Storr Group (“Storr”), a Texas‑headquartered private equity firm focused on building platforms within fragmented sectors. Balance Point provided debt capital to support SPS’s current acquisition pipeline and extended significant available capital for future M&A activity.
Headquartered in Austin, TX, SPS PoolCare provides residential pool services including maintenance, repair, and renovation services to thousands of customers across Texas, Florida, Arizona, and Nevada. Since its inception in 2021, the Company has been highly acquisitive, bringing 80+ brands under its ownership. SPS’s technology-first approach to service delivery has enabled the seamless integration of these brands and gained the Company the title of #1 pool service company in the United States by Pool and Spa News.
“Balance Point is excited to partner with SPS and Storr as they continue to establish themselves as leaders in the residential pool service industry,” said Seth Alvord, Managing Partner at Balance Point. “SPS’s impressive application of technology to streamline operations and facilitate acquisition integration is evident across the organization. We look forward to continuing to support SPS on their exciting journey ahead.”
“We are pleased to welcome Balance Point as our first debt capital partner,” remarked Lance Martin, President and COO of SPS. “Their service industry expertise, collaborative approach, and robust capital base will be crucial as we continue to expand while maintaining best-in-class pool maintenance and repair services throughout the Sun Belt.”
Fraser Ramseyer, Chairman and CEO at Storr, said, “From the outset, Balance Point recognized our vision for SPS and designed a tailored financing structure that aligns with our mission to consolidate the fragmented pool services industry. We are thrilled to have Balance Point as a capital partner at SPS and look forward to collaborating with them again in the future.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.
About SPS PoolCare
As the #1 swimming pool services company in the United States ranked by Pool and Spa News, SPS PoolCare is on pace to perform one million weekly pool services per year and employs more than 500 staff across four states. Backed by Storr Group, the company is focused on growing its family of brands across the Sun Belt, as it continues to make owning a pool a joy. SPS PoolCare is committed to creating a world-class service experience for its customers and being an employer-of-choice for its team members.
For more information, visit www.spspoolcare.com
About Storr Group
Storr Group is a leading operationally focused private equity firm headquartered in Austin, Texas. Storr builds and scales best-in-class platforms across the United States, elevating industries for consumers, employees, and key stakeholders. The firm predominantly operates within fragmented, high-margin sectors – creating value through consolidation and its methodical Storr Business Systems playbook that drives operational excellence, industry-leading growth, and technology transformation. Storr Group is actively operating multiple scaled platforms and has executed nearly 100 investments across its platforms. For more, visit www.storrgroup.com

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KKR Completes Acquisition of Varsity Brands from Bain Capital and Charlesbank

KKR

New investment supports Varsity Brands’ growth strategy and mission to serve sports teams, schools, and student-athletes

DALLAS & NEW YORK–(BUSINESS WIRE)– Varsity Brands (the “Company”), a leader in team sports, athletics and spirit, and KKR, a leading global investment firm, today announced the completion of the acquisition of Varsity Brands by KKR from Bain Capital and Charlesbank. As the new majority owner of Varsity Brands, KKR will support the Company as it continues to grow its business.

The Varsity Brands platform offers an extensive range of high-quality, customized solutions, services and experiences that support school and team sports, athletics and spirit programs, reaching over eight million athletes and students annually. The Company is a national marketer, manufacturer and distributor of customized team uniform and apparel solutions and team-specific sporting goods and equipment serving more than 150,000 customers, including colleges, universities, schools, club teams and recreational programs. Additionally, the Company has strong, long-standing relationships with iconic global athletic brands such as Nike, adidas, Under Armor, New Balance and lululemon. Varsity Brands is also a leading organizer of cheerleading competitions and training camp programs.

“Today is a pivotal moment for Varsity Brands as we welcome KKR as our new investor. We see immense growth potential as we advance our mission to support teams, schools and communities, elevating the experience for young people nationwide. This is a proud day for the Varsity Brands team, whose commitment and performance are critical to our continued success. I am also excited for our colleagues to join KKR and our leadership team as co-owners of the Company,” said Adam Blumenfeld, CEO of Varsity Brands. “We are grateful for the support and partnership from Bain Capital and Charlesbank. Their support has been instrumental in laying the foundation for our continued success. I want to express my sincere gratitude for their belief in our mission and role in shaping the Varsity Brands we know today.”

With a history spanning five decades, Varsity Brands serves as a catalyst for positive change, supporting the physical, mental and emotional well-being of students and athletes through innovative resources and programs that help kids feel connected, supported and inspired to excel. Most recently, the Company debuted a new initiative, SURGE, which stands for Strength, Unity, Resilience, Growth and Equity, aiming to empower girls to stay in sports. SURGE encourages female athletes to lead healthy, successful lives through a variety of free online tools for coaches to build self-esteem, instill confidence and prioritize mental health. Additionally, the Varsity Brands IMPACT School Partnership Program offers schools tailored solutions to enhance school pride, boost student engagement, and foster community spirit.

“Varsity Brands is a leading solutions-oriented services provider with a mission to elevate the student experience through sport and spirit, helping schools and teams foster greater participation, enthusiasm and community,” said Felix Gernburd, Partner at KKR.

“We look forward to working alongside Adam and his passionate team to support their strategy for growing Varsity Brands’ platform in new markets and categories while continuing to deliver exceptional products, services and contributions to the sports and education ecosystems,” said Angad Singh, Director at KKR.

KKR will support Varsity Brands in creating a broad-based equity ownership program to provide all the Company’s employees with the opportunity to participate in the benefits of ownership. This strategy is based on the belief that team member engagement through ownership is a key driver in building stronger companies. Since 2011, more than 50 KKR portfolio companies have awarded billions of dollars of total equity value to over 100,000 non-senior management employees.

KKR is making this investment primarily through its North America Fund XIII. Terms of the transaction were not disclosed.

Goldman Sachs and Jefferies served as financial advisors and Simpson Thacher & Bartlett LLP served as legal advisor to KKR.

BofA Securities and William Blair served as joint financial advisors and Kirkland & Ellis LLP served as legal advisor to Varsity Brands.

About Varsity Brands

Varsity Brands is a premier team sports platform, providing a comprehensive range of services and solutions for sports, cheer, dance, band, and yearbook programs. Varsity Brands supports athletic programs, schools, gyms and teams with customizable uniforms, gear, competitions, experiences, training, education and more. Our mission is to elevate the experience of more than 55 million students nationwide through sport and spirit. Discover how Varsity Brands champions youth participation, well-being and engagement at varsitybrands.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Varsity Brands
Sue Crumpton
media.relations@varsitybrands.com

Samantha Gaspar
samantha.gaspar@teneo.com

KKR
Miles Radcliffe-Trenner / Liidia Liuksila / Emily Cummings
212-750-8300
media@kkr.com

Source: KKR

 

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AutoScout24 Finalizes Agreement to Acquire TRADER Corporation

Hellman & Friedman

AutoScout24, the leading pan-European online automotive marketplace, has signed an agreement to acquire TRADER Corporation (“TRADER Canada”) from Thoma Bravo. In conjunction with this acquisition, funds affiliated with existing majority shareholder Hellman & Friedman (“H&F”) will make a meaningful incremental equity investment in AutoScout24.

With this acquisition, the AutoScout24 Group, which includes leading online automotive marketplaces in continental Europe, Germany’s largest online automotive market for leasing offers, LeasingMarkt.de, and one of Europe’s fastest-growing B2B used car trading platforms, AutoProff, extends its presence outside of Europe and strengthens its position as a leading global online automotive marketplace. The transaction also expands AutoScout24’s service offering into automotive dealer software and lender solutions through TRADER Canada’s leading offerings.

TRADER Canada operates Canada’s leading online automotive marketplaces, English-language AutoTrader.ca and French-language AutoHebdo.net, with 26 million monthly visits, more than 450,000 vehicle listings, and 5,000 dealer partners. Founded in 1975 and headquartered in Toronto, the company also provides several automotive dealer software solutions under the AutoSync brand and operates DealerTrack, the leading Canadian portal connecting automotive dealers and lenders, as well as Collateral Management Solutions, the primary provider of lien and registration services, recovery services, and insolvency management solutions to Canadian Lenders. Throughout their ownership, Thoma Bravo worked closely with TRADER Canada to expand its innovative product portfolio through both organic investments and strategic acquisitions to better serve the company’s growing customer base.

Peter Brooks-Johnson, CEO of the AutoScout24 Group: “I am delighted to welcome the TRADER Canada team and its leading brands to the AutoScout24 family. TRADER Canada’s impressive long-term track record, clear position as Canada’s most important automotive marketplace, and comprehensive expertise in dealer software and fintech solutions speak for themselves. This acquisition strengthens AutoScout24’s position as a leading global online automotive marketplace and will help accelerate the growth of both platforms. As a result, we will offer our customers, trade partners, OEMs, and financing partners in Europe and Canada better services and more innovative solutions.”

Sebastian Baldwin, President and CEO of TRADER Corporation: “AutoScout24’s track record of success with their automotive marketplaces presents a perfect alignment with the TRADER Canada business and our future long-term goals. In addition to our marketplaces, which are the #1 most trusted choice for Canadian car shoppers, our market-leading software and automotive finance solutions businesses represent further opportunities for collaboration. We look forward to working together to continue strengthening TRADER Canada’s market leading position across the breadth of the Canadian automotive sector.”

Blake Kleinman, Partner at H&F: “We have been successful investors in the automotive classifieds sector since 2014 and have come to appreciate the commonality, across all geographies, of the strategic product innovations required to maximize the efficiency of the car buying journey for consumers and dealers. Bringing TRADER Canada into the AutoScout24 family significantly enhances our ability to leverage our global scale and common technology platform to invest in innovation that will better serve consumers, dealers, and our other partners. The additional equity investment from H&F in this transaction demonstrates our long-term vision of building the leading global automotive classifieds platform.”

Holden Spaht, a Managing Partner at Thoma Bravo: “It’s been a privilege to work with Sebastian and the TRADER Canada team. Through the application of our software expertise and M&A strategy, we helped transform TRADER Canada from an online automotive marketplace to a market leading platform of digital retail solutions for consumers and automotive dealers in Canada. We are confident that AutoScout24 is a great home for TRADER Canada, and we look forward to following their continued success together.” Peter Stefanski, a Partner at Thoma Bravo added: “We are proud to have supported TRADER Canada over the course of our investment, driving growth and innovation while creating a better experience for both dealers and car-buyers across all of Canada.”

The transaction is expected to close in the fourth quarter of 2024. RBC Capital Markets and Deutsche Bank are acting as M&A advisors to AutoScout24 and Simpson Thacher & Bartlett LLP, Davies Ward Philipps & Vineberg LLP and Freshfields Bruckhaus Deringer LLP are acting as legal counsel. Goldman Sachs & Co. LLC is acting as lead financial advisor; BofA Securities and HSBC Securities (USA) Inc. are also acting as financial advisors to TRADER Canada and Kirkland & Ellis LLP, McMillan LLP and Goodmans LLP are acting as legal counsel.

About AutoScout24
With over 2 million vehicle listings, around 30 million users per month and more than 43,000 dealer partners, AutoScout24 is the largest pan-European online car market. In addition to Germany, the AutoScout24 Group is also represented in the European core markets of Belgium, Luxembourg, the Netherlands, Italy, France, Austria, Norway, Denmark, Poland and Sweden. As a comprehensive marketplace for mobility, AutoScout24 is making targeted investments in the growth areas of leasing, car subscriptions, electromobility and online car purchases. With AutoScout24 smyle, the marketplace enables its users to purchase vehicles completely online – free of charge and delivered ready-to-drive directly to their doorstep. Leasing specialist LeasingMarkt.de has also been part of the AutoScout24 Group since 2020 and the B2B auction platform AUTOproff since 2022. Together, the marketplaces are significantly driving the digitalisation of the European car trade.

More information on www.autoscout24.de

Media Contact:
Julia Dreßen
Fon +49 89 444 56-1185
presse@autoscout24.de

About TRADER Corporation:
TRADER Corporation is a trusted Canadian leader in online media, dealership and OEM software, and lender services. The company is comprised of AutoTrader.ca™, AutoHebdo.net™, LesPac.com, AutoSync™, Dealertrack™ and Collateral Management Solutions™. AutoTrader.ca and AutoHebdo.net offer the largest inventory of new and used vehicles in Canada, receiving over 26 million monthly visits to over 450,000 vehicles listed by over 5,000 dealers. With over 2,500 subscribers and counting, AutoSync is the largest and fastest growing dealer and OEM software provider in Canada. The platform’s suite of connected automotive software solutions brings advertising, conversion and operational support together, synchronizing the entire retail process. The portfolio is rounded out by DealerTrack, the leader in Canadian automotive finance solutions, and Collateral Management Solutions, the primary provider of lien and registration services, recovery services, and insolvency management solutions to Canadian Lenders.

For more information, please visit www.tradercorporation.com

Media Contact:
Jessica Huynh
Jessica.huynh@labourcreative.ca

SOURCE AutoScout24

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OMERS Infrastructure and DWS to acquire Italy’s Grandi Stazioni Retail

Omers Infrastructure

Grandi Stazioni Retail

August 6, 2024 – OMERS Infrastructure and an Infrastructure Investment fund managed and advised by DWS Group today announced that they have signed an agreement to acquire 100% of Grandi Stazioni Retail from Antin Infrastructure Partners, ICAMAP and Borletti Group.

Grandi Stazioni Retail manages the entirety of commercial and advertising spaces in 14 of Italy’s major railway stations and hubs for the high-speed rail network, which collectively receive over 800 million visits a year. The stations include over 800 commercial units, totaling around 190,000 Sqm of leasable space, and over 1,800 media assets.

The investment becomes OMERS first-ever in Italy, its 19th in Europe, and 14th transportation asset globally. DWS has a strong track record in rail transportation, including its investments in Akiem, Streem and Corelink, as well as in Italian infrastructure via its investments in Gruppo SAVE, Rimorchiatori Mediterranei and Ergéa.

Michael Hill, Executive Vice President and Global Head of Infrastructure, OMERS said: “We are delighted to be partnering with DWS to acquire Grandi Stazioni Retail. The acquisition is highly consistent with the OMERS Infrastructure strategy and will be an excellent complement to our world-class portfolio of infrastructure investments.”

Alastair Hall, Head of Europe, OMERS Infrastructure, said: “We’re delighted to acquire Grandi Stazioni Retail, which marks our entry into Italy and further expands OMERS presence in Europe. The investment presents us with an exciting opportunity to grow our exposure to the resilient and dynamic European rail sector. We are hugely impressed by Grandi Stazioni Retail’s management team, their commercial strategy and successful track-record of growth.”

Hamish Mackenzie, Global Head of Infrastructure at DWS, said: “This acquisition is a testament to our commitment to investing in high-quality infrastructure assets. Grandi Stazioni Retail offers a unique platform that aligns with our long-term vision for growth and providing essential services to the passengers and communities served by our portfolio companies, as well as a strong alignment with the key sustainability trend of reduction of transportation emissions, a theme supported by local and European policies. We are particularly impressed by the Grandi Stazioni Retail’s strategic direction and operational excellence of the management team, led by Alberto Baldan. We are excited to partner with OMERS and leverage our expertise and resources to further enhance the value of this asset and ensure it continues to serve as a vibrant travel hub for connectivity.”

The transaction is expected to be completed by the end of the year, subject to certain customary closing conditions and regulatory approvals.

 

Media contacts

OMERS James Thompson

Director of Communications

E: JaThompson@OMERS.com

T: +44(0)7443 264 154

 

DWS

Nick Bone

E: nick.bone@dws.com

T: +44 (0) 20 754 72603

About OMERS Infrastructure

OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$36 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam, Singapore and Sydney.

About DWS Group

DWS Group (DWS) with EUR 933bn of assets under management (as of 30 June 2024) aspires to be one of the world’s leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.

We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.

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Bridgepoint agrees sale of investment in Vitamin Well

Bridgepoint
  • Since Bridgepoint partnered with Vitamin Well in 2016, the business has grown revenue twelvefold through international expansion and new product development.
  • The Bridgepoint funds will retain a significant minority stake in the business with a compelling opportunity for substantial value creation in the years ahead.
  • Bridgepoint welcomes Cinven as new lead investor with a mutual vision to continue to support Vitamin Well’s growth aspirations through further international expansion and continued product development.

 

Bridgepoint, one of the leading private asset growth investors, is pleased to announce that the Bridgepoint funds have agreed the exit of their investment in Vitamin Well, the high-growth functional food and beverage business, welcoming Cinven, the international private equity firm, as new lead investor. Through the transaction, Cinven will become the largest shareholder in the company, while Bridgepoint will retain a significant minority shareholding.

Established in 2008 and headquartered in Stockholm, Vitamin Well is a fast-growing functional food and beverage business, offering premium products for health-conscious and active consumers. Today, the company has c. 500 employees, with a broad product portfolio across several brands, including core brands Vitamin Well (vitamin and mineral-enriched drinks), NOCCO (performance energy drinks) and Barebells (protein bars and shakes), which are sold internationally across more than 40 markets.

Since Bridgepoint partnered with the Vitamin Well founders and management in 2016, the company has experienced a period of exceptional growth and development. Bridgepoint has supported the founders and the management team in pursuing international growth, gaining traction in several international markets, including the DACH region, the UK, Spain and the US.

The investment in Vitamin Well was initially made in 2016 by a fund managed by Bridgepoint Development Capital (“BDC III”), Bridgepoint’s lower middle-market strategy. It has been co-owned with Bridgepoint Europe (“BE VI”), Bridgepoint’s middle-market strategy, since 2021 following additional investment. Both funds will retain a significant minority stake in the business going forward.

Christopher Bley and Johan Dahlfors, Partners and Co-Heads of the Nordics at Bridgepoint, said:

“We are proud to have been part of the remarkable growth and transformation that Vitamin Well has achieved, with revenue increasing twelvefold during our partnership, and the company expanding from 50 employees in 2016 to 500 employees today. The Vitamin Well management team and the broader organisation are exceptionally strong and highly motivated, and we have strong conviction in the company’s ability to sustain its growth momentum. We look forward to continuing to work with Vitamin Well and welcome Cinven as a new partner to help support the continued global expansion.”

Jonas Pettersson, CEO and Co-Founder at Vitamin Well, said:

“With Bridgepoint as a partner, we have strengthened our presence in our core market, the Nordic region, and expanded our international presence. We look forward to continuing our journey with both Bridgepoint and Cinven as we further expand our presence globally. With their continued support, we are confident in our ability to innovate, grow and develop, bringing our premium products to even more health-conscious consumers around the world.”

Pontus Pettersson, Partner and Head of the Nordic regional team at Cinven, commented:

“We are delighted to partner with co-founder Jonas Pettersson, the management team and Bridgepoint to support Vitamin Well in its next stage of growth. This is an exciting time for the business – while it has achieved a huge amount in its first 15 years, we think its journey has just begun. Cinven has significant experience investing in both the Consumer sector and the Nordic region, including backing leading businesses to expand internationally, and we believe that we can use this knowledge to support the management team to effectively deliver and achieve their ambitious targets.”

The transaction is subject to customary conditions and regulatory approvals. It is expected to complete in the second half of 2024.

Bridgepoint was advised by Jefferies (M&A), Vinge (Legal), McKinsey (Commercial), PwC (Financial and Tax).

Bridgepoint is one of the world’s leading quoted private asset growth investors, specialising in private equity, infrastructure and private credit.

With over €67bn of assets under management and a strong local presence in Europe, North America and Asia, we combine global scale with local market insight and sector expertise, consistently delivering strong returns through cycles.

Bridgepoint Advisers Limited, a subsidiary of Bridgepoint Group plc, is authorised and regulated by the Financial Conduct Authority.

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