Fenix Marine Services is a leading container terminal in the Port of Los Angeles

Under EQT Infrastructure’s ownership since 2017, Fenix Marine Services has been transformed into one of the largest and most efficient container terminals operating in the busiest port complex in the Western Hemisphere

A relentless focus on value creation and digitization have resulted in significant operational improvements, including a 20 percent increase in gross moves per hour, the leading indicator of marine productivity. Environmental upgrades have also eliminated over ten million pounds of greenhouse gases to date

EQT is pleased to announce that the EQT Infrastructure III fund (“EQT Infrastructure”) has agreed to sell its stake in Fenix Marine Services (“the Company”) to CMA CGM (“CMA”) for an enterprise value of USD 2.3 billion. CMA is the third largest global shipping line and a member of the leading Transpacific shipping alliance.

Fenix Marine Services is one of the largest terminals in the Port of Los Angeles and provides container handling services to shipping lines. The Company handles approximately 2.3 million TEUs (unit of cargo capacity) annually and employs more than 145 people.

Since acquiring Fenix Marine Services in December 2017, EQT Infrastructure has undertaken a series of initiatives to help position the platform for long-term success, including a management overhaul led by seasoned port executive Sean Pierce, featuring a dynamic team with deep global terminal operating experience and cutting-edge technological know-how. EQT Infrastructure also backed significant investments in new equipment and systems, including the largest cranes in North America. The Company introduced an extensive yard reconfiguration that increased terminal capacity by 40 percent, improved productivity, reduced turnaround time for truckers, and improved safety. EQT Infrastructure also supported the installation of automated gates and implementation of advanced inventory tracking systems, as well as the launch of innovative machine learning technology to optimize terminal operations. These efforts firmly established Fenix Marine Services as one of the leading digitized port operators in the world.

Demonstrating sustainability leadership in the Port of Los Angeles has also been a key focus for Fenix Marine Services. The Company converted its entire equipment fleet to renewable diesel, eliminating over ten million pounds of greenhouse gases to date, and is testing low-carbon hydrogen fuel cell technology with partners including Toyota.

Sean Pierce, CEO and President of Fenix Marine Services, said, “Our vision was always to deliver on operational excellence and to do things better than they have been done before. All employees at Fenix Marine Services, whether on the front line in Port of Los Angeles or at our back-office in Arizona, have been critical in delivering that vision. This transaction is a testament to the strength and fortitude of the team. We thank our partners at EQT for their unique, active support of the company throughout this journey”.

Alex Darden, Partner and Head of EQT Infrastructure’s US Advisory Team, added, “Fenix Marine Services plays an integral role in the complex North American supply chain. We have been proud to support its mission of operational excellence and capacity growth to best meet consumer needs both before and during a pandemic that has highlighted the importance of Port of Los Angeles as a critical trade gateway. It has been a pleasure to partner with Sean and the current management team, each of whom have done a fantastic job implementing our full potential plan, including an ambitious digitalization program and an industry-leading sustainability agenda. Today, Fenix Marine Services is one of the most efficient and environmentally friendly terminals in North America”.

EQT Infrastructure is confident that CMA is the right partner to continue this incredible progress, ensuring the terminal’s operational efficiency and fluidity to the benefit of the entire port community. The transaction closing is subject to customary regulatory approvals.

Rothschild & Co acted as exclusive financial advisor and Allen & Overy LLP acted as legal advisor to EQT Infrastructure.

Contact
US inquiries: Mathilde Milch, +1 917 510 6626, mathilde.milch@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About

About EQT
EQT is a purpose-driven global investment organization, focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business’ development, from start-up to maturity. EQT today has more than EUR 70 billion in assets under management across 27 active funds within two business segments – Private Capital and Real Assets.

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

About Fenix Marine Services
Fenix Marine Services in the Port of Los Angeles is one of the largest marine terminals in North America, spanning nearly 300 acres and 4,000 feet of the wharf. Fenix is in a prime location adjacent to the Port’s deep-sea channel and a ship-turning basin. The Fenix team achieves approximately 2.3 million TEUs annually.

More info: www.fenixmarineservices.com

02/11/2021 – 17:45 | Portfolio

DIF Capital Partners (“DIF”) is pleased to announce that the SPARK consortium comprising DIF Infrastructure VI (“DIF VI”), Capella Capital, John Laing, Pacific Partnerships, CPB Contractors, GS Engineering & Construction, WeBuild, China Construction Oceania and Ventia has reached financial close on the landmark North East Link project in Melbourne, Australia.

North East Link will be the largest transport project in Victoria’s history and the largest PPP project in Australia, with a total cost of A$11.1 billion. DIF VI will own a 20% stake in the Primary Package PPP, which has an unprecedented long-term financing structure in place with top tier local and international financiers.

North East Link (click here for video) will be Victoria’s longest twin road tunnel, with three lanes and ca. 6.5 kilometres in length, finally closing the missing link in Melbourne’s freeway network. Up to 135,000 vehicles will use North East Link every day, reducing congestion in the north-east, and giving back local roads to local communities. North East Link will slash travel times by up to 35 minutes, take 15,000 trucks of local roads each day, and create more than 10,000 local jobs.

The project will be delivered by a design & construction joint venture consisting of WeBuild, CPB Contractors, GS Engineering and China Construction Oceania. Operations and maintenance will be undertaken by Ventia.

Gijs Voskuyl, Partner and Head of Investments for DIF VI added: “DIF is excited to work with the North East Link Project Authority and alongside our leading Spark consortium members to deliver this critical missing link in Melbourne’s road network. The North East Link project will not only create thousands of local community jobs, it will also reduce congestion and remove significant freight transport from the existing suburban roads, and thereby significantly improving the liveability of the surrounding communities.”

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

• Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
• DIF CIF funds, of which DIF CIF II is the latest vintage, target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Thijs Verburg, IR & BD
Email: t.verburg@dif.eu

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI, has reached an agreement to acquire a 51% stake in ib vogt GmbH (“ib vogt”), one of the world’s leading developers in utility-scale PV solar, from its current 100% shareholder (“DVV”).

With a total capacity, built or in construction, of over 2.2 GWp to date combined with a project development pipeline in excess of 40 GWp, ib vogt continues to benefit from strong growth and is a leading global utility scale solar PV development platform. Headquartered in Berlin, Germany, ib vogt has established 27 offices across Europe, North America, Asia-Pacific and Africa as part of its presence in over 40 countries. The group works together with numerous partners globally, augmenting its in-house team of over 540 experts who are active in all areas of the solar value chain.

DIF and DVV have entered into this strategic partnership with the aim of accelerating ib vogt’s growth program and asset build out as well as to fast track the transition of the company towards an independent power producer (“IPP”) model that develops, owns, and operates solar and battery storage projects. As part of the agreement, DIF will acquire a 51% stake in ib vogt (excluding certain projects for regulatory reasons) and the shareholders will undertake a capital injection at closing.

“We are delighted to partner with DVV and the ib vogt team, who have proven to be one of the leading solar development platforms globally. The development, construction and operation of solar energy and battery storage plays a vital role in the decarbonisation of electricity markets across the world and we believe ib vogt is well placed to play a major role in this,” said Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI. “We are excited to support the company and the highly experienced management team in the next phase of its growth, realising ib vogt’s impressive pipeline and continuing the transformation from a developer into a global IPP.”

“The partnership with DIF will have an energising effect for the company. We are delighted to be working with the DIF team. Our sector – and the company – are growing rapidly. The partnership represents an important and transformative next step in our evolution. It will help the company to reach new heights, accelerating the conversion of the tremendous pipeline potential that we have built up, and thereby creating a leading and value-adding IPP platform,” said Anton Milner, CEO of ib vogt.

“Our industry is pivotal in the fight against climate change. Together with DIF we have an opportunity to significantly increase the company’s contribution and impact in addressing this key global challenge. We are excited about our partnership and taking the company to the next level,” added Dagmar Vogt, founder and shareholder of ib vogt.

DVV was advised by Marathon Capital, Ikarus Capital as well as Hogan Lovells International LLP and AU VON POCHHAMMER Rechtsanwälte. DIF was advised by Evercore, Schenck Energy and Ashurst.

The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature. Closing is expected to take place during Q4 2021.

About ib vogt

ib vogt is firmly committed to supporting the decarbonisation of the global electricity sector. As an integrated developer, ib vogt specialises in the development, design, engineering, financing, EPC, operation, maintenance, and asset management of solar power plants, offering high-quality turnkey solutions to asset owners. The company currently has multiple hundred-MWp projects under construction with a multi-GWp international project pipeline.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

• Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest vintage, target equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and (renewable) energy projects.
• DIF CIF funds target equity investments in small to mid-sized economic infrastructure assets in the telecom, energy, and transportation sectors.

DIF supports the goal of Net Zero greenhouse gas emissions by 2050, in-line with global efforts as a result of the Paris Agreement to have net zero emissions by 2050, or sooner.

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:
Thijs Verburg, IR & BD
Email: t.verburg@dif.eu

CapMan Infra and St1 to co-operate on the construction of ground source heat plants

CapMan Infra has entered into co-operation with St1 to accelerate ground source heat plant investments in Finland. As part of the arrangement, the CapMan Nordic Infrastructure I fund acquires a ground source heat plant portfolio owned by St1 Lähienergia Oy, and finances nationwide investments in new heating plants generating sustainably produced energy.

CapMan Infra and St1 are launching a partnership through which CapMan Infra finances new ground source heat plants, sold and built by St1, for apartment buildings and commercial and public properties throughout Finland. The share of properties utilising ground source heat has been steadily rising in Finland for the last ten years. The goal of the arrangement is to further speed up ground source heat investments while decreasing emissions, by offering clients heating solutions through an effortless and cost-efficient lifecycle model.

As part of the arrangement, CapMan Infra acquires St1 Lähienergia Oy’s ground source heat plant portfolio, which serves approx. 130 properties and produces about 38 GWh of sustainable local energy annually. St1 continues to operate the plants and serve existing clients as part of the agreed co-operation. The investment programme aims to at least double the energy production by 2024.

“Heating of buildings stands for about 30% of Finland’s entire greenhouse gas emissions. Geothermal heating is renewable energy and lowers CO2-emissions considerably as compared to traditional electricity and oil heating. It is great that we are able to facilitate new investments in ground source heat plants together with a leading Nordic energy company and offer heating solutions through an innovative and competitive lifecycle model. The partnership is also an excellent example of the type of collaboration where CapMan Infra creates added value to an industrial partner as well as the end-customer through investments,” comments Ville Poukka, managing partner at CapMan Infra.

“The partnership between St1 and CapMan Infra is an excellent example of the recognition that St1 enjoys as a reliable partner also for the execution of scalable geothermal and ground source heat systems. It is paramount for lifecycle model projects to secure reliable and disturbance-free heat generation for residents under all conditions. We are proud to be part of this effort to produce sustainably generated heat for a broader customer base,” comments Matti Pentti, director of St1 Oy’s Heat from the Ground division.

“As the developer and operator of St1 Lähienergia Oy plants we have gained experience over many years on how to plan, build and operate energy efficient and reliable heat plants over the lifecycle,” adds Kristian Savela, CEO of St1 Lähienergia Oy.

The arrangement will be executed through CapMan Nordic Infrastructure I fund’s portfolio company Loviisan Lämpö.

“With this arrangement the Loviisan Lämpö Group expands its heating business to new areas. Going forward we will be able to offer nationwide heating solutions in co-operation with St1 also outside our current district heating network,” says Mikko Paajanen, CEO at Loviisan Lämpö.

The transaction is expected to close during 2021 and is subject to customary closing conditions.

For more information, please contact:

Pekko Haaksluoto, Investment Director, tel. +358 40 584 6031

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012.  www.capman.com

About St1

St1 Nordic Oy is a Nordic energy group whose vision is to be the leading producer and seller of CO2-aware energy. The Group researches and develops economically viable, environmentally sustainable energy solutions. St1 focuses on fuels marketing activities, oil refining and renewable energy solutions such as waste-based advanced ethanol fuels and industrial wind power. The Group has 1250 St1 and Shell branded retail stations in Finland, Sweden and Norway. Headquartered in Helsinki, St1 employs currently more than 1000 people. www.st1.com

KLAR Partners funds invest in Oleter Group to build the leading Northern European provider of Property Damage Restoration (“PDR”) services

Funds advised by KLAR Partners Limited (“KLAR Partners” or “KLAR”) have signed an agreement to acquire QMG, one of Finland’s leading players in technical installation and services within electricity, heating, ventilation, sprinklers and automation. The acquisition is the next step in KLAR Partners’ ambition to create the Nordic region’s leading player in technical installation and property services.

QMG offers technical installation and services within electricity, heating, ventilation, sprinklers and automation. With around 1,000 employees in almost 30 locations, the company is one of the largest installation companies in Finland. In 2020, QMG had sales of approximately EUR 200m.

Together with Sandbäckens, an existing KLAR portfolio company, QMG will form one of the Nordic region’s leading players in technical installation and property services. The two companies, within the newly formed group, will continue to operate as separate units – Sandbäckens on the Swedish market and QMG on the Finnish market. Kimmo Liukkonen remains President of QMG and joins the Group’s management team with Mikael Matts, group President and CEO and Johan Henriksson, group CFO.

“We have followed QMG for a long time as the company fits well into KLAR’s investment strategy. With QMG and Sandbäckens, we have the market’s most skilled employees and a world-class management team. It gives us a powerful Nordic platform for continued growth”, said Fredrik Brynildsen, KLAR Team Leader.

“I look forward to participating in the creation of a leading Nordic player in installation and services that is based on a decentralized structure with local presence and entrepreneurship, paired with the larger company’s network and combined expertise”, said Johan Karlström, the new group’s chairman of the board.

“I am pleased to welcome QMG as a partner to Sandbäckens, and thereby establish one of the leading players in the Nordic region. The companies have a similar corporate culture and shared values. This is something we must nurture and preserve while we develop the companies’ successful and decentralized structure. Together, we can develop further through synergies and sharing of best practices, and we have the strength to accelerate our growth, both organically and through acquisitions,” said Mikael Matts, the new Group’s President and CEO.

“KLAR Partners is an owner with deep sector expertise and experience in developing companies in our industry. We also look forward to forming a significant Nordic player together with Sandbäckens, which gives us the best conditions for our continued growth journey”, said Kimmo Liukkonen, CEO of QMG.

KLAR Partners Funds’ acquisition of QMG is conditional upon customary approvals from the competition authority in Finland.

For more information:
Fredrik Brynildsen
fb@klarpartners.com
+44 7388 439 890

Mikael Matts, CEO, Sandbäckens
mikael.matts@sandbackens.se
+46 76-850 16 03

About KLAR Partners
KLAR Partners is a European private equity firm focused on investments in companies operating in business services and light industrials. The companies in which KLAR invests each have an annual turnover of approximately EUR 50-500m and are headquartered in the Nordics, Benelux or DACH regions. With investment professionals located in London, Stockholm, Frankfurt and Brussels, together with a broad international network in the industry, KLAR has a proven business model to support, develop and grow companies. KLAR’s senior professionals have worked together for many years and have more than 50 years of combined investment experience in KLAR’s industry-specific and geographical focus area. KLAR Partners is a signatory of United Nations Principles for Responsible Investment. More information about KLAR can be found on the company’s website at www.klarpartners.com.