Tag Archives: Industrie

CapMan Special Situations invests in Aro Systems

Capman

CapMan Special Situations press release
23 December 2022 at 09:15 EET

CapMan Special Situations invests in Aro Systems

CapMan Special Situations invests in Aro Systems, a building technology services contractor. The objective is to develop the company as a frontrunner for energy efficient solutions in new development and renovations.

Aro Systems is one of the leading electrical and HVAC project service contractors and technical building service and maintenance providers in Finland. Founded in 1954, the company has successfully expanded under Aro family ownership. Aro Systems employs close to 350 professionals in the field of building technology in the Helsinki metropolitan area as well as in the Tampere and Oulu regions. In addition to installation services for demanding projects, the company delivers solutions that improve energy efficiency.

CapMan Special Situations fund becomes the majority owner in Aro Systems following this arrangement, while Aro Yhtiöt maintains significant ownership. In conjunction, a new Board of Directors will be established with Panu Routila, advisor for the CapMan Special Situations fund, to step up as Chairperson of the Board. Mika Huovinen will continue as the company’s CEO.

“The building technology market is growing and undergoing rapid transition. Aro Systems is well-positioned as a sustainable service provider and one of the frontrunners in energy efficient solutions. This transaction enables the acceleration in growth of the company’s maintenance service business as well as further development of contracting service processes,” says Antti Uusitalo, Partner at CapMan Special Situations.

“The involvement of CapMan supports our company’s profitable growth and development and is excellent news for our customers, employees and the business overall. Customer focus, service quality and an entrepreneurial spirit have guided us for almost 70 years. In the past few years, we have undertaken a rigorous renewal of the company. Together with the expertise provided by CapMan, we can accelerate the company’s profitable growth and improve its competitiveness,” says Paavo Aro, the Chairperson of Aro Yhtiöt.

The investment in Aro Systems is the fourth of the CapMan Special Situations fund.

The completion of this transaction is subject to approval by the Finnish Competition and Consumer Authority.

For more information, please contact:

Antti Uusitalo, Partner, CapMan Special Situations, +358 40 020 2663

About CapMan Special Situations

CapMan Special Situations pursues event-driven investment situations by providing flexible capital solutions and strong operational capability to deliver step-change performance improvements.

CapMan Special Situations is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and approx. €5 billion in assets under management. Our objective is to pro,vide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Aro Systems

Aro Systems Oy is one of the leading providers of building technology expertise and services with close to 70 years of experience. Together with close to 350 professionals, the company is building a better environment for living and working. The company’s services encompass the entire life cycle of properties and building technology services in new construction and renovation projects. The company is established in the Helsinki metropolitan area as well as the Tampere and Oulu regions.

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Segulah creates SELATEK – a challenger within security solutions, electrical installation and automation

Segula

In November 2021, Segulah acquired a majority stake in Levinsgruppen, a leading regional provider of electrical installation, climate control systems and turnkey industrial automation services, to support the company in its next growth phase. Since then, eight acquisitions have been completed tripling the Group’s combined revenues to around SEK 750m and expanding geographical presence to the attractive greater Stockholm region.

To address the market’s increased demand for qualified services within security solutions, electrical installation, and automation, SELATEK has been created with the ambition to take larger contracts with a focus on sustainability and technology. Through organic growth initiatives in a structurally growing market, continued acquisitions and synergies between the companies, the Group is expected to grow significantly during the next couple of years. The companies within the SELATEK Group will operate under their locally anchored and unique brands, with the previous owners and key employees remaining in their respective operational roles. The strategy is to drive Group initiatives and, with a focus on sustainability and technology, offer the market specialist competence within the technology areas security solutions, electrical installation and automation.

“SELATEK’s strategy is built on that locally strong companies with a unique brand will continue to develop with support from the Group and its subsidiaries. By taking pole position in the rapidly evolving technological development within our focus areas we will offer our customers unique expertise and high-quality deliveries. Energy efficiency solutions, power transmission and charging infrastructure are areas where SELATEK already today makes a difference.” says Magnus Löfgren, CEO of SELATEK.

For further information, please visit www.selatek.se, www.segulah.com or contact:

Magnus Löfgren                                             Marcus Planting-Bergloo
CEO, SELATEK                                                 CEO, Segulah VI Advisor AB
+46 702 09 66 14                                              +46 702 29 11 85
magnus.lofgren@selatek.se                         planting@segulah.se

 

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3d investors becomes majority shareholder of in-lite, Dutch market leader in outdoor lighting

3D Investors

Along with founder and CEO Jürgen van Dijk and the in-lite management team, 3d investors is going to help in-lite to grow further internationally in the coming years by taking a majority shareholding in the business. The management team will remain operationally active and financially connected to the company. Thanks to this investment, in-lite can take the next big steps in realising its international growth ambitions and strengthening its market position in the US and Canada. With this shareholding, 3d investors is further strengthening its position in the Dutch market.

in-lite, based in Gorinchem, designs, produces and sells cutting-edge, low-voltage outdoor lighting. It focuses primarily on mid-range and high-end gardens, for which the lighting can be bought and installed through garden professionals. in-lite lighting is used in a number of luxury projects including Kontiki Beach Resort Curaçao and Hotel & Spa du Castellet, various acclaimed restaurants in the Netherlands and abroad, and the most exclusive private gardens. The company is the Dutch market leader in its segment, exports to Belgium, Germany and Scandinavia, and has built up strong market positioning in the United States and Canada. Outdoor lighting is a growth market, with a growth rate forecast of 5 to 10% per year.

Rapid growth thanks to focus and continuous development and innovation

in-lite was established in 1999 and has grown rapidly in a short space of time, thanks to its continuous investment in the design and development of new products. What is unique about in-lite’s products is that they work on a low voltage. This makes them modular, safe for people and animals, and easy for any garden professional to install.

Jürgen van Dijk, founder and CEO of in-lite: “With this investment from 3d investors, we can strengthen our capital and further grow in-lite internationally. Our ambition is to become the number-one brand in outdoor lighting in Western Europe and North America. At in-lite, we believe that every garden should be beautifully lit, as that is what really creates the magic. Thanks to the expertise of 3d investors, we will get on board experienced “business builders” and entrepreneurs. They will help us build on our current foundations and accelerate our growth. I am also delighted that, in conjunction with my team and 3d investors, I can keep building our wonderful company over the coming years.”

De Tijd: “The Netherlands: takeover country of choice for Belgian businesses”

In recent years there has been a clear upwards trend in Belgian businesses investing in and taking over Dutch firms. The Netherlands is the takeover country of choice for Belgian businesses according to a recent headline in Belgian newspaper De Tijd. This is the third Dutch business that 3d investors has invested in, thereby confirming its ambitions in the Dutch market.

Hans Swinnen, Partner at 3d investors: “After Care Cosmetics and DSIT, in-lite is the third Dutch company that we are currently investing in. This investment complements our participation in Jati & Kebon, a leading outdoor furniture manufacturer. Through these two companies, we cover a great deal of the outdoor lighting and furniture market. The customer-orientation, focus and entrepreneurship of Jürgen van Dijk and his team played an important role in our decision, and perfectly match with the entrepreneurial, family-business values of 3d investors. The partnership with in-lite seamlessly aligns with our passion to grow strong businesses to the next level internationally.”

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HEXPOL’s acquisition of the shares in McCann Plastics, an American specialist in thermoplastic compounding, is completed

HEXPOL has completed the previously announced acquisition of the shares in McCann Plastics LLC from the McCann family. The company is specialized in niche thermoplastic compounds, with special focus on roto molding applications.

The acquisition is fully in line with HEXPOL’s M&A strategy of acquisitions within polymer compounds. Furthermore, the acquisition complements our current operations in the US and strengthens our market position.

“The acquisition of McCann is fully in line with our growth strategy with acquisitions within polymer compounds and strengthens our market position in the US. We welcome all employees of McCann to the HEXPOL Group”

Georg Brunstam, CEO HEXPOL Group

“I am convinced that McCann Plastics with HEXPOL as owner will become even stronger. It will give the company and the employees more resources to grow with new markets and customers while at the same time, improve the production efficiency even further”

Michael McCann

During the last few years, McCann has invested substantially in capacity and technology to enable the company’s further growth and to meet the increased demand of its products.

“McCann has a strong position within its market niche that complements and widens our customer offer. The company is well invested with high competence in specialized thermoplastic compounds. We are looking forward to continued growth with McCann being part of HEXPOL”

Jan Wikström, President HEXPOL Thermoplastic Compounding

McCann has during the last 12 months delivered sales of some 72 MUSD with a profitability level just below that of the HEXPOL Group. McCann has operations in two locations in Ohio, USA with some 100 employees in total. The main end customer segments are general industry, agriculture and the fast growth segment of specialized cooling boxes.

The acquisition price amounts to 120 MUSD on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. All regulatory approvals and contractual terms for the transaction have been met and the acquisition has been completed. The business will be consolidated from 1 December.

For more information, please contact:

Peter Rosén, Deputy CEO and CFO
+46 (0)40 25 46 60
HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily systems suppliers to the global automotive and engineering industry, construction industry, the energy, oil and gas sector, medical equipment manufacturers and OEM manufacturers of plate heat exchangers and forklifts. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2021 amounted to 16,005 MSEK. The HEXPOL Group has approximately 5,100 employees in fourteen countries. Further information is available at www.hexpol.com.

This report has been prepared both in Swedish and English. In case of any divergence in the content of the two versions, the Swedish version shall have precedence.

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HEXPOL

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Ratos company HL Display acquires Allied POS

Ratos

2022-12-02

HL Display is acquiring Allied POS, a leading provider of Point of Sale (POS) solutions in Ireland. With the acquisition, HL Display consolidates its market position, and it will expand HL’s footprint and route to market in Ireland and further strengthen its position as the leading supplier for in-store merchandising and communication solutions to grocery retailers in Europe.

Established in 2004, Allied POS is based in Dublin, Ireland and has annual sales of €2m. Since its founding, Allied POS has catered to a wide range of customers within grocery retail, pharmacies, and shopfitters, building on vast knowledge of the retail environment and strong service credentials.

“It is pleasing that HL Display continues its European expansion. This acquisition is fully in line with Ratos’ acquisition strategy, where add-on acquisitions in existing companies are an important part. We welcome the new company into the family and look forward to HL Display’s continued growth journey”, says Anders Slettengren, Chairman of the Board at HL Display and Executive Vice President, Ratos.

“With its strong footprint in the Irish market, its customer base and product offer, Allied POS is a great fit for HL”, says Björn Borgman, CEO of HL Display. “This acquisition will help us to gain broader distribution in the dynamic grocery and convenience markets in Ireland and strengthen our position as the leading supplier for in-store merchandising and communication solutions across Europe. I believe together we are creating an even stronger offer for Irish retailers, and I am delighted to welcome Allied POS to HL.”

About HL Display
HL is a global leader in in-store merchandising and communication solutions, helping customers to create a better shopping experience around the world. Founded in 1954, HL today is present in more than 70 countries and solutions can be found in 295,000 stores. The HL Display Group has its headquarters in Stockholm, Sweden and sales companies covering 26 markets as well as distributor partners covering the remaining markets globally. The five production facilities are located in Sweden, Poland, the UK and China. HL Display has 1,100 employees and net sales of 1,700 MSEK.

http://www.hl-display.com

For further questions, please contact:
Anders Slettengren, Chairman of the Board, HL Display and Executive Vice President, Ratos
+46 72 589 89 00

Josefine Uppling, VP Communication, Ratos
+46 76 114 54 21

Björn Borgman, CEO, HL Display
+46 72 264 17 90

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Argos Wityu to acquire IJssel Technologie

argos wityu

The common objective is to reinforce IJssel Technologie’s robust market position in accelerating commercial developments, boosting innovation, contributing to the energy transition, and deploying a clear M&A strategy.

Argos Wityu has reached an agreement with the shareholders of IJssel Technologie to become majority shareholder of the Dutch industrial maintenance services provider. Wadinko will remain as a minority shareholder alongside Argos Wityu. This acquisition marks Argos Wityu’s fifth investment by its MidMarket fund VIII.

Founded in 1992 from the process engineering department of Scania in Zwolle, Ijssel has been supported by the current shareholders since 2004. The business is active in (predictive) maintenance and optimization for industrial production and process industries. With its high reputation and its loyal workforce of over 400 employees, IJssel provides skilled services to clients active in basic materials, chemicals, food & beverages and transport. The company is known as a specialized maintenance provider with a high degree of technical knowledge, a customer-centric approach, and a brand strongly recognized in the Dutch industrial maintenance market.  In 2021, the company’s revenues were €59m.

The current shareholders are enthusiastic about this next step for the company and its employees. Argos Wityu was selected as partner for their understanding of the business, core skillsets in growth and operational excellence, and track record in successful (international) buy & build programs. Wadinko, a provincial fund focused on employment in the region, will remain as a minority shareholder alongside Argos Wityu.

IJssel will continue to provide its high-quality services and support its clients in the best manner.

The transaction is subject to conditions and approvals including but not limited to the Works Council and the Dutch market authorities.

Richard Reis, Partner at Argos Wityu said “Argos Wityu is proud to have been chosen by the historical shareholders of IJssel and glad to build this new partnership with this very successful Dutch company. We will strive to preserve the group’s DNA, develop its market-leader identity and structure its growth.”

Han Leemhuis, Investment Manager at Wadinko added: “We look forward to continue as shareholder alongside with Argos Wityu and unroll all the opportunities included in the business plan.”

Argos Wityu team: Gilles Mougenot, Richard Reis, Roel van Ark, Skyler van Wezel

Buyer advisors
Corporate Finance/M&A – Deloitte (Onno Vos, Jeroen van Leeuwen, Jeffrey Riesmeijer, Guy Valette)
Strategy & Commercial – Deloitte VCS (Karin de Sousa Nobre, Walter Lutz, Jig Sevinga)
Financial – PwC (Cornelis Smaal, Khayyam Butt, Nick de Leeuw)
Legal – Houthoff (Bram Caudri, Ivar Brouwer, Jeanne Beck, Sylvia Dikmans, Diede van der Voort)
Pension – HVG Law (Nicolette Opdam, Roderick Buijs, Inge Renes)
Tax – PwC (Bart Weijers, Joey Schellingerhout)
Insurance – Aon (Ingrid van Bussel, Richard Stemerdink)
ESG – Tauw (Hans Nieuwenhuis, Julian Stempher, Nick Distelbrink)

Seller advisors
Corporate Finance/M&A –  Oaklins (Arjen Kostelijk, Martijn de Win, Ruben Knooren, Baran Temur)
Strategy & Commerical – Roland Berger (David van der Does, Maarten Roelofsma, Bart Woltjes
Financial – Accuracy (Leontine Koens-Betz, Barry van der Vliet)
Legal – Loyens&Loeff (Herman Kaemingk, Eline de Ruijter, Frank Bambacht, Sandrine Lekkerkerker)

Argos Wityu

Coralie Cornet
Director of Communications
ccc@argos.fund
+33 1 53 67 20 63

Wadinko

Han Leemhuis
h.leemhuis@wadinko.nl
+31 6 51 84 55 81

About Argos Wityu / www.argos.wityu.fund
One firm, two strategies. Argos Wityu is an independent European private-equity group that supports the growth of mid-sized business and back their management teams.

With more than €1.4bn assets under management, over 30 years of experience and more than 90 businesses assisted, Argos Wityu operates from offices in Brussels, Frankfurt, Geneva, Luxembourg, Milan, and Paris. The group seeks to acquire majority stakes and invests between €10m and €100m in each investment of its two strategies:

  • The MidMarket fund helps companies implement ownership transitions to accelerate growth
  • The Climate Action fund aims at shaping European sustainable leaders by making their ‘grey-to-green’ transition.

About IJssel Technologie / www.ijssel.com

IJssel is a leading Dutch provider of engineering, installation, (predictive) maintenance and (production) optimization services for industrial customers and is involved in a significant part of the industrial services value chain. Via over 400 employees it offers its services via 7 locations in the Netherlands, both as professional service provider and outsourced technical department.

About Wadinko / www.wadinko.nl

Wadinko is a private equity company with social impact and an entrepreneurial approach. Wadinko offers risk capital, management support, and shares its knowledge and networks. In addition, Wadinko has adopted a social commitment to stimulate healthy local commercial activity and employment in the Dutch regions of Overijssel, the Noordoostpolder and south-west Drenthe. This manifests itself in substantial minority interests, realistic return requirements, and a focus on the continuity of shareholdings. As of 2022, Wadinko has holdings in 26 companies, employing 4,250 people.

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EQT Infrastructure enters exclusive negotiations to acquire a majority stake in Trescal, a global leader in calibration laboratories

eqt
  • EQT Infrastructure enters exclusive negotiations to acquire a majority stake in Trescal, a global leader in calibration laboratories, from OMERS
  • Trescal provides essential and regulated calibration services via a network of more than 380 laboratories, for testing and measurement equipment in transport, healthcare, telecom, and other sectors
  • EQT Infrastructure will support the continued development of Trescal and its pursuit of growth opportunities in current and new markets, drawing on EQT’s global footprint, industrial DNA and extensive experience in the Company’s key end-markets such as telecom and healthcare

EQT is pleased to announce that the EQT Infrastructure V (“EQT Infrastructure”) fund has entered exclusive negotiations to acquire a majority stake in Trescal (the “Company”) from Ontario Municipal Employees Retirement System (“OMERS”), which will remain a minority investor alongside EQT Infrastructure.

Headquartered in Paris, France, Trescal is a global leader in calibration laboratories providing essential and regulated calibration services for testing and measurement equipment in a diverse range of critical end-markets such as transport, healthcare, telecom and other sectors. Formerly part of Air Liquide and established as an independent company in 2007, Trescal is today one of the world’s largest owners and operators of third-party calibration laboratories with a global network of more than 380 facilities spanning 29 countries. The Company employs 4,400 people and has an annual turnover of around EUR 450 million.

Trescal provides mission-critical and regulated calibration testing to ensure that the quality of essential products meets the most stringent requirements. The demand for its solutions are underpinned by clear industry trends including the increasing number and complexity of testing and measurement instruments, as well as more stringent quality and regulatory standards. Investment in Trescal provides strong resilience towards macroeconomic headwinds due to the mandatory, time-based rather than volume-based service, the recurring nature of its offering, and its loyal customer base.

EQT Infrastructure will support the continued development of Trescal and its pursuit of growth opportunities in current and new markets, drawing on EQT’s global footprint, industrial DNA, and extensive experience in the Company’s key end-markets such as transport, telecom and healthcare. Moreover, EQT will support Trescal in further digitizing its operations, employing EQT’s in-house expertise and global track record of developing strong companies within the technology sector.

Christoph Balzer, Partner within EQT Infrastructure’s Advisory Team, said: “EQT Infrastructure has followed Trescal for a long time. We are deeply impressed by the management team’s achievements in  creating a global leader in calibration laboratories with a differentiated one-stop-shop offering to serve its customer’s requirements. We believe EQT’s track record of building global companies, industrial DNA, and value-add approach strongly positions us to support the Company in its next phase of growth.”

Thomas Rajzbaum, Managing Director and Head of EQT’s French Infrastructure Advisory Team, added, “Trescal provides mission-critical services to its industrial customers in essential end-markets that are experiencing increasingly stringent requirements. We look forward to further strengthening Trescal’s market position through increased investment in the breadth of its laboratories’ capabilities and footprint, commercial excellence, sustainability and cutting-edge digitization.”

Guillaume Caroit, CEO of Trescal, said: “We at Trescal are very keen to welcome EQT as our new owner and look forward to benefiting from the capabilities and experience EQT offers. We are confident that together with EQT Infrastructure we have the right partner to drive the next phase of our global growth, further cement our leading market position, and continue to best serve our clients.”

The acquisition of Trescal is EQT Infrastructure’s third investment in France after the European operator of nursing home facilities Colisee, and the French water services management company SAUR.

The transaction is subject to the consultation process or information of the Employee Representative Bodies, as well as antitrust and potential foreign investment clearances. It is expected to close in H1 2023.

With the acquisition of Trescal, EQT Infrastructure V is expected to be 80-85 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication), subject to customary regulatory approvals.

Contact

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT

EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT funds own portfolio companies and assets in Europe, Asia-Pacific and the Americas and support them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Trescal

Trescal is a global leading operator of calibration laboratories. It offers an array of industries a single-source solution for calibration, measurement, repair, qualification, validation and asset management across the globe. Its technicians and experts carry out accredited and non-accredited calibrations for all measured variables and measuring instruments in all technical domains, whether physical, electrical or mechanical. Trescal’s 4,400 team members perform more than 3.3 million operations per year, including 27,000 repairs across 150,000 types of instruments and 20,000 brands. 

More info: www.trescal.com

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Ratos company Aibel gets billion NOK assignment at Aasta Hansteen

Ratos

2022-11-29

Aibel has by Equinor been awarded a billion NOK contract for extensive modifications and preparation of the Aasta Hansteen platform for tie-in of the Irpa field (previously Asterix). Aibel describes the contract as ’large’ ‒ a term used by Aibel when it comes to agreements in the order of NOK 1.5-2.5 billion.

Management and engineering will be carried out from Aibel’s office in Stavanger with the support of the offices in Oslo and Singapore. The project will employ a maximum of 200 people. In addition, the project will exploit synergies with Aibel’s existing maintenance and modification contract for Aasta Hansteen, which is led by the Harstad office. Prefabrication and module assembly will take place at Aibel’s yards in Haugesund, Norway and Thailand.

The EPCIC contract (Engineering, Procurement, Construction, Installation and Commissioning) was an option when Aibel last year was awarded the FEED contract (Front End Engineering and Design) to plan the modifications in detail.

“This contract together with the extension of the agreement for Johan Sverdrup means that Aibel has received two billion contracts with Equinor in a short time. It is proof of the companies’ good cooperation and strong relationship. Aibel plays an important role in the energy supply of the future,” says Christian Johansson Gebauer, member of the Board of Directors of Aibel and President, Business Area Construction & Services, Ratos.

“The contract award is an acknowledgment to the organisation that has worked with the FEED. At the same time, it confirms Aibel’s leading position in modifications of infrastructure on the Norwegian continental shelf. We have a long history as main supplier within this area and look forward to providing an integrated solution in close cooperation with Equinor,” says Mads Andersen, President and CEO of Aibel.

Engineering work starts immediately, while the first offshore activities are expected already during February 2023. The project is expected to be completed in 2026.

For further questions, please contact:
Josefine Uppling, VP Communication, Ratos
+46 76 114 54 21, josefine.uppling@ratos.com

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 28 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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KKR BRINGS TOGETHER BETTCHER INDUSTRIES AND FRONTMATEC TO BUILD A GLOBAL LEADER IN PROTEIN PROCESSING AUTOMATION

KKR

NEW YORK – November 10, 2022 – KKR, a leading global investment firm, and Bettcher Industries (“Bettcher”), a KKR portfolio company, today announced that Bettcher has completed the acquisition of Frontmatec, a global manufacturer of end-to-end automated solutions for pork and beef processing with world-class robotics capabilities. Frontmatec will join Bettcher, a leading manufacturer of protein processing equipment, to form a global market leader in protein processing automation.

The acquisition of Frontmatec represents an important step in building a diversified, scaled platform of food processing automation technologies with best-in-class capabilities to serve customers globally. Frontmatec’s leading robotics, vision systems, intelligent software and other capabilities as well as its global footprint and strong presence in Europe, are highly strategic and complementary to Bettcher’s leading focus on semi-automated protein processing tools and automated poultry processing systems.

Dan Daniel, Executive Advisor at KKR and Chairman of Bettcher, said, “We are excited to establish and build a platform that brings together two great companies who share a common vision of solving their customers’ problems in the protein processing automation space. From a strategic standpoint, the acquisition will allow us to invest in even greater innovation that helps our customers achieve enhanced productivity, automation and worker safety on a global scale. We are excited to continue building on the platform from here.”

As part of a KKR-owned platform, Bettcher and Frontmatec will continue to operate independently under their existing brands and leadership teams. The companies expect to collaborate on sharing best practices and driving future innovation and product development. They will also explore further strategic acquisition opportunities, including bringing additional businesses with leading brands into the platform.

Frontmatec CEO, Allan Kristensen, said, “Bringing the strengths of our companies together will enable us to deliver special innovation to the market. Culturally, our two companies are a great fit as we share the same passion for customer focus, developing high-quality solutions that will meet the accelerating global demand for higher yields in production as well as improved food quality and worker/people safety.”

The employee engagement program established by KKR will be extended to all Fontmatec employees. A key pillar of the program is allowing all employees to take part in the benefits of ownership by granting them the opportunity to participate in any equity return alongside KKR.

KKR’s investments in Bettcher and Frontmatec were made through its North America Fund XIII.

About Frontmatec
Headquartered in Kolding, Denmark, Frontmatec is a leader in end-to-end automated solutions for the red meat processing industry. Frontmatec serves customers worldwide through its global manufacturing and service footprint, including many of the world’s largest red meat processors. It is a full-line supplier of processing equipment, parts and services, instruments as well as controls software, which help solve key issues pertaining to yield, health and safety, animal welfare, food quality and more. For more information, please visit https://www.frontmatec.com/en.

About Bettcher Industries
Headquartered in Birmingham, Ohio, Bettcher is a leading developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. For more information, please visit https://www.bettcher.com/en

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 and on Twitter @KKR_Co.

 

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Sun Capital affiliate sells Allied Glass

Sun Capital
  • Leading manufacturer of glass packaging containers for the premium food and drinks market sold to Verallia Group
  • First Fund VII exit

BOCA RATON, Fla. – November 8, 2022 – Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm focused on defensible businesses in growing markets with tangible performance improvement opportunities, today announced that an affiliate has sold Allied Glass (“the Company” or “Allied”) to Verallia Group (“Verallia”) (ENXTPA: VRLA), the third largest producer of glass packaging for beverages and food products globally, headquartered in France, for a total enterprise value of £315 million. The sale of Allied marks the first Fund VII exit. Sun Capital was advised by its European affiliate, Sun European Partners, LLP, in connection with this transaction.

Established in 1874 and headquartered in Leeds, UK, Allied is the leading UK-based manufacturer of glass packaging containers for the premium spirits, food and drinks markets. It specializes in shorter production runs for bespoke premium bottles which are manufactured to order.

“Allied is an outstanding business with an exceptional management team. Since 2019, we have worked with management to execute on several operational improvement opportunities, including ESG-friendly product innovation, SKU reporting and a significant CapEx program enhancing plant utilization,” said Paul Daccus, Managing Director of Sun European Partners. “Our work with Allied Glass underlines Sun Capital’s commitment to partnering with outstanding management teams to drive value creation. This sale has allowed us to achieve a very successful outcome for the Company and our investors, and we’re confident that Allied Glass will continue to go from strength to strength as part of Verallia, a global leader in glass manufacturing.”

Since an affiliate of Sun Capital acquired Allied in December 2019, value creation was accelerated through product innovation, and increasing recycled content in glass production, bolstering the ESG profile. The Company also introduced activity-based, product level costing platforms to enhance commercial and operational decision making and cost savings. Furthermore, a capex program for a new facility increased capacity and manufacturing efficiency. Each of these initiatives expanded the company’s market share and profitability, growing EBITDA significantly.

“Our partnership with the Sun European team has been a great success and today Allied Glass is a market leader in its field, with impressive technical capability and a flexible, customer-focused approach,” said Alan Henderson, CEO of Allied Glass. “Our shared values and focus on delivering a customer-first strategy, combined with Sun European’s operational knowledge and deep manufacturing expertise, have allowed us to transform and grow the business over the last 2-3 years and create further value through innovation and internal development.”

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