AURELIUS wins “Private Equity Turnaround of the Year” award for successful exit from Getronics

Aurelius

  • Recognition by prestigious Institute for Turnaround (IFT) for the Group’s most successful exit to date
  • Jury impressed by the strategic realignment and substantial growth of Getronics under the AURELIUS umbrella

Munich/London, December 1, 2017 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) is the winner of this year’s award for Private Equity Turnaround of the Year. AURELIUS received the prestigious award from the Institute for Turnaround (IFT, www.the-ift.com) in London for its extremely successful sale of Group subsidiary Getronics. In early July 2017 AURELIUS divested Getronics to strategic Investor Bottega InvestCo S.à r.l. for EUR 220 million. The transaction was AURELIUS’ largest exit to date, and brought AURELIUS a cash multiple of 18.5 x on the capital invested.

Dr. Dirk Markus, CEO and Chairman of the Executive Board of AURELIUS Equity Opportunities: “We are delighted to receive the award. The positive development of the Getronics group under the AURELIUS umbrella shows very clearly how the focused deployment of our operative Task Force combined with a sustained expansion strategy can turn what were once neglected carve-outs into profitable, independent companies. The Getronics sale was just one of several successful exits this year.”

Strategic realignment and higher growth of Getronics under the AURELIUS umbrella

AURELIUS acquired ICT service provider Getronics in May 2012 from KPN in the Netherlands, and since that time has positioned it as a dependable information and communications technology partner for medium to large companies, combining local accessibility with global reach. The service portfolio was tightened and focused on high-margin products with future potential. Getronics’ global presence received a noticeable boost by the reconfiguration of the Global Workspace Alliance (GWA) together with US partner company CompuCom. Service offerings standardized across all Alliance members brought a lasting increase in profitability, as well as new growth opportunities. Five strategic add-on acquisitions during its time with AURELIUS allowed the Getronics Group to expand geographically as well as in its service portfolio. While an AURELIUS Group portfolio company, the staff count of the Getronics Group grew by over 20 percent.

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Eurazeo and RHÔNE to form strategic partnership

Eurazeo

EURAZEO TO ACQUIRE A MINORITY STRATEGIC INTEREST IN RHÔNE RHÔNE PARTNERS BECOME EURAZEO SHAREHOLDERS PARTNERSHIP WILL ACCELERATE THE LONG-TER M STRATEGIC  DEVELOPMENT OF BOTH FIRMS

Paris, London & New York, November 29, 2017

Eurazeo, a leading global listed investment company based in Paris and New York, and Rhône, a leading international private equity firm based in New York and London, today announce a strategic partnership. Under the terms of the agreement, Eurazeo will acquire a 30% interest in Rhône in exchange for $100 million cash (€84million) and 2 million newly issued Eurazeo shares. Eurazeo is a Euronext-listed investment company, with total assets under management of €7billion. Rhône is a global alternative investment management firm with over €5 billion in assets under management across both its private equity business and its real estate joint venture with WeWork, the global leader in the collaborative workspace industry.

The partnership is predicated on both firms’ like-minded investment philosophy, common and complementary transatlantic heritage, and historical cultural alignment. This is evidenced by the global geographical presence of each firm, anchored by their common European and American heritage and long-standing network of relationships.

The complementary skills and character of each firm will serve to enhance the benefits of the partnership for both firmsand their

stakeholders, including broadening the ir scale and scope of investment capabilities and reinforcing and cross-pollinating respective networks.

 

One Rhône representative will serve as an observer on the Eurazeo Supervisory Board while three Eurazeo representatives will serve on Rhône’sBoard of Managers. However, each firm will continue to operate independently and will maintain full discretion over their investment decisions.

The transaction will be accretive to Eurazeo. It is expected to close in the first half of 2018 and is subject to regulatory approvals and other customary closing conditions.

 

Patrick Sayer, CEO of Eurazeo, said: “We are delighted to partner with Rhône. Together with their world-class investment team, whom we have known for a long time, we share an investment vision and a similar entrepreneurial DNA. This strategic partnershipwill bolster Eurazeo’s business model and help usgrow and transform companies, creating further value for our shareholders.”

Virginie Morgon, Deputy CEO of Eurazeo, added: “Capitalizing on our unique model that combines permanent capital and third-party money, we have successfully built over the past few years a multi-strategy international investment firm. Today’s transaction with Rhône accelerates this strategy.Beyond the financial investment in a top-performing asset management company, this agreement represents a valuable opportunity to significantly broaden our transatlantic reach and gain access to a wider universe of investors.”

Robert Agostinelli, Co-Founder and Managing Director of Rhône, said: “Our common bond of culture, history and relationships provide a natural predicate for this important milestone in the firm’s development. We are delighted to become shareholders in Eurazeo, and this partnership will serve to enhance the future prospects of both of our businesses.”

Steven Langman, Co-Founder and Managing Director of Rhône, added: “While we will continue to operate our firm independently, our shared values and traditions provide an exciting and natural base for this partnership to drive great benefits for our respective investors . We are excited to work more closely with the leading shareholders and management of Eurazeo, many of whom we have known intimatelyfor over 30 years.

About Eurazeo

With a diversified portfolio of approximately €7 billion in assets under anagement, of which €1 billion from third parties, Eurazeo is a leading global investment company with offices in Paris, Luxembourg, New York, Shanghai and Sao Paolo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers a broad spectrum of private equity strategies through its five business divisions –Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise and a gateway to global markets, and enables the transformational growth of its companies.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121

Bloomberg: RF FP

Reuters: EURA.PA

About Rhône

Rhône was founded in 1996 by Robert F. Agostinelli and M. Steven Langman following their successful careers in cross-border mergers and acquisitions with Goldman Sachs and Lazard. With over 20 years of investing experience, Rhône comprisesa global alternative investment management firm with over €5 billion in assets under management, including its real estate joint venture with WeWork.The firm focuses its private equity investments in market leading businesses with a pan-European or transatlantic presence and global growth opportunities. Rhône, which is currently investing capital from its fifth private equity fund, has invested in a diversified portfolio of companies including those in the chemical, consumer product, food, packaging, industrials, specialty material, business services, and transportation sectors.

In addition, the firm has a joint venture with WeWork to acquire real estate and real estate related assets that are suitable for WeWork.

 

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IK expands its small cap strategy to the Benelux region – Hires Sander van Vreumingen as Benelux Small Cap partner

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, today announces that Sander van Vreumingen has joined as a Partner responsible for IK’s Benelux Small Cap team. 

IK has been present in the Benelux region since 1995 and has invested over €1bn into thirteen successful investments during this time. Within the mid cap space, IK has been one of the most active regional players with notable transactions including Vemedia, the market leader of OTC drugs, Magotteaux, the leading manufacturer of cast wear parts for the cement and mining industries and fund administrator Vistra, amongst many others. As IK now extends its small cap strategy, Sander van Vreumingen has been appointed partner and responsible for the Benelux Small Cap team.

Sander joins from Gimv, where he worked for over a decade, and prior to that at the Dutch investment firm Halder. He has substantial experience in the small cap segment, and has been involved in numerous transactions, including Mackevision, ALT, Arplas, Walkro, BMC, Oldelft, ARS Traffic & Transport Technology, Hebu and Geveke. Sander holds an MSc in Economics from Erasmus University Rotterdam.

IK’s Amsterdam office, which was established earlier this year, is led by Remko Hilhorst, Partner responsible for IK’s Mid Cap Benelux team. Remko Hilhorst has been with IK since 2001. Together, IK’s Small and Mid Cap teams will focus on investments with enterprise values of up to €500m, partnering with entrepreneurs who are looking for support to help them achieve the next stage of their company’s growth and development.

“Having both a mid cap and small cap practice operating on the ground will allow the firm to capitalise on the synergies which are present in the market and give the teams a superb investing platform from which to execute transactions,” said Remko Hilhorst, Partner at IK Investment Partners.

“Benelux is an important market for IK, offering many interesting investment opportunities in various sizes and sectors. Sander, with his wealth of experience and wide network of contacts in the region, is a great addition to our team to reinforce our strong position in Benelux. We are delighted to welcome him to the firm,” said Christopher Masek, Partner and CEO at IK Investment Partners.

“I am very pleased to join one of the most reputable private equity firms in the Benelux region. I look forward to working closely with Remko and the mid cap team whilst establishing a dedicated small cap team, in order to further enhance the firm’s existing success,” said Sander van Vreumingen, Partner at IK Investment Partners.

For further questions, please contact: 

IK Investment Partners
Remko Hilhorst, Partner
Phone: +44 207 304 4300

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9 billion of capital and invested in over 110 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Termination of sale of 3i’s stake in ACR

3i Group plc (“3i”) notes that ACR Capital Holdings Pte. Ltd (“ACR”) has today announced that the proposed acquisition of ACR by Shenzhen Qianhai Financial Holdings Co. Ltd. and Shenzhen Investment Holdings Co. Ltd will not be proceeding.

The book value methodology used to value 3i’s stake in ACR did not change as a result of the implementation agreement being signed in October 2016, and at 30 June 2017 it was valued at £131m.

Over the past year, ACR has continued to successfully execute on its original strategy, pursuing profitable growth opportunities while simultaneously de-risking and rebalancing its portfolio, and further strengthening its business franchise and brand. These measures have resulted in significant improvement in ACR’s underwriting and financial performance, with its business tracking ahead of plan across all key metrics.

-Ends-

For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

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Ratos AB: Daniel Juhlin appointed new CEO of Plantasjen

Ratos

Daniel Juhlin has been appointed new CEO of Plantasjen, the Nordic region’s leading chain for sales of plants and gardening accessories. Daniel Juhlin has extensive experience from the consumer goods and retail sector, most recently as CEO of Byggmax AB, which is part of Byggmax Group AB. He will assume the position in December this year.

Daniel Juhlin has more than 15 years of experience from the consumer goods and retail sector. He most recently served as CEO of Byggmax AB, part of Byggmax Group AB, prior to this he was deputy CEO of Byggmax Group AB and Head of Marketing- and IT/online. Earlier positions include CEO of Candyking Sverige AB and CEO of Friggs AB. He is 43 years old and holds a MSc in Industrial Management from the Royal Institute of Technology in Stockholm. Daniel will assume his position as CEO of Plantasjen in December.

“In recent years, Plantasjen has implemented a number of initiatives, such as the launch of small-format store concepts, changes to the supply chain and the acquisition of SABA Blommor AB. Daniel will contribute to Plantasjen’s onward journey through his previous experience from consumer product companies and working in sales development, operational improvements and e-commerce focusing on the customer. His background is suitable for Plantasjen’s plans to develop e-commerce solutions and thereby renew its customer offering with the goal of improving customer satisfaction,” says Magnus Agervald, CEO of Ratos and company executive of Plantasjen.

Plantasjen was acquired in 2016 and is the Nordic region’s leading chain for sales of plants and gardening accessories with around 120 stores in Norway, Sweden and Finland and a primary focus on consumers. Sales amounted to NOK 3,624m and adjusted EBITA to NOK 293m in 2016. 

For further information, please contact:

Magnus Agervald, CEO Ratos, +46 8 700 17 00

Hilde Britt Mellbye, Chairman of the Board Plantasjen, +47 997 16 617
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98

Financial calendar from Ratos:
Interim report January-September 2017       14 November 2017
Year-end report 2017                                    16 February 2018
Interim report January-March 2018               3 May 2018
Interim report January-June 2018                 17 August 2018
Interim report January-September 2018        25 October 2018

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.

 

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Tesi launches 150 million euro fund-of-funds

Investments in funds25.10.2017

Since 2009, the KRR fund-of-funds concept has accelerated the growth and internationalisation of 150 companies

Helsinki, Finland – Tesi, in co-operation with Finnish institutional investors Ilmarinen, Keva, VER, Elo, LähiTapiola and Fennia, has established a new fund-of-funds KRR III. Similarly to its predecessors, KRR III invests in Finnish venture capital and small buyout funds. Its total capital is 150 million euros.

”KRR is a great example of collaboration between Tesi and Finnish pension and insurance companies to ensure that Finnish companies are able to raise capital to grow on international markets. KRR plays a significant role in accelerating the growth of these companies,” says Mika Lintilä, Minister of Economic Affairs.

In 2009-2017, KRR I and KRR II invested in altogether 19 Finnish venture capital and small buyout funds. These funds have, to date, invested in roughly 150 companies generating a total turnover of 1,6 billion euros and employing 13 000 people. With KRR III in place, the number of portfolio companies will be more than 300.

“As a repeated investment vehicle, KRR III ensures the continuity of capital supply to selected risk capital funds in Finland. In addition to capital, these fund managers will bring their own expertise and networks to their portfolio companies,” comments Jan Sasse, CEO at Tesi.

“We are excited about participating in KRR III. For us, KRR provides an efficient way to participate in the growth of many companies through only one investment decision,” says Esko Torsti, Director at Ilmarinen. “This is a great way to combine profitable investments with a positive economic and societal impact,” points out Markus Pauli, Director at Keva.

For more information, please contact:

Jan Sasse, CEO, Tesi
Tel. +358 40 861 9151, e-mail: jan.sasse(at)tesi.fi


Tesi
(Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio. www.tesi.fi / @TesiFII

 

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Activa Capital boosts its investment team with the appointment of Timothée Heron as associate

Paris, 10 October 2017
Activa Capital, the Paris-based independent private equity firm, is pursuing its development strategy and announces the arrival of Timothée Héron, 26, as Associate.
Timothée will reinforce the investment team in analyzing new opportunities. Prior to joining Activa Capital, Timothée
worked for 2 years as an M&A analyst at DC Advisory, after previous work experience in large and mid-cap M&A at UBS and Credit Suisse. Timothée is a graduate of Dauphine University, Paris.
“We are very pleased to welcome Timothée to Activa Capital’s investment team, which now counts 12 professionals dedicated to investments. His transactional experience on the French SME market will strengthen our ability to identify strong investment opportunities and support management teams with their growth projects”, says Christophe Parier, Partner at Activa Capital.
About Activa Capital
Activa Capital is a leading French mid-market private equity firm. Activa Capital manages over €500m of private equity funds on behalf of a wide range of institutional investors. Activa Capital partners with ambitious mid-sized French companies, valued at €20m to €200m, seeking to accelerate their growth and their international footprint. Learn more about Activa Capital at
activacapital.com
.

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EQT Real Estate broadens its German portfolio

eqt

  • EQT Real Estate invests in two office buildings comprising about 70,000 square meters in Frankfurt, Germany’s foremost hub for financial services
  • The plan includes an extensive repositioning of the buildings in the rapidly changing Niederrad and Neu-Isenburg submarkets
  • The investment represents EQT Real Estate’s fifth investment to date

EQT Real Estate I (“EQT Real Estate” or “the Fund”) has acquired two multi-let office assets in Frankfurt, Germany. The assets form part of the pan-German portfolio Project Mars, acquired by Eurocastle from DWS in 2007, and represents the fund’s fifth investment to date and second in Germany.

Frankfurt is well-known as an attractive base for the European banking and financial services sectors, with a rapidly evolving office market with strong demand from tenants but only a small number of new developments. The two buildings are both modern and strategically located in terms of transport links and political initiatives. The largest one, Atricom, comprises 45,600 square meters and is located in Niederrad, while the second building, Le Büro, comprises 23,700 square meters and is located in Neu-Isenburg.

The buildings are set to receive a comprehensive refresh and optimization by further modernizing, upgrading and improving the buildings, both technically and visually, in order to offer future and existing tenants a quality working environment.

Frank Forster, Director at EQT Partners and advisor to the Fund, said:

“We are looking forward to EQT Real Estate taking part of the ongoing development in Frankfurt-Niederrad. The area is rapidly changing and the plans for Atricom should make a positive contribution to this part of town.”

Contacts:
Frank Forster, Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5404
EQT Press Office, +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

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Oakley Capital closes €800 million fund

oakleycapital

Oakley Capital closes €800 million fund

Oakley Capital (“Oakley”) is pleased to announce that it has closed its third fund, Oakley Capital Private Equity III (“Fund III”), raising €800 million. Continued strong support from existing investors and a €326 million commitment from Oakley Capital Investments Limited, the AIM-listed Fund established to provide investors with access to the Oakley Funds, has enabled Oakley to raise its largest fund to date.

Key highlights:

  • Successful close above original hard cap of €750 million due to investor demand;
  • Strong investment from Oakley portfolio entrepreneurs and management teams who contributed 5% of the funds raised;
  • Oakley partners and staff contributed in excess of 5% of the total funds raised;
  • 75% re-up rate of Fund II institutional investors, demonstrating their belief in Oakley’s performance and potential; and
  • Fund III has already been very active with five investments across Oakley’s core sectors and is already 40% deployed.

Oakley Capital has a highly successful 15 year track record of investing across Western Europe, with a focus on identifying investments where the firm can work proactively with founders and management teams in order to create substantial shareholder value for its investors.

Fund III attracted strong interest from high quality investors, and closed above its original hard cap at €800 million, with 75% of the institutional investors in Fund III choosing to re-up, highlighting their confidence in Oakley’s investment strategy. This has been echoed in the investment made by Oakley’s partners and staff, as well as the strength of our new investors, further demonstrating Oakley’s brand strength and successes in the market. The investment from Oakley’s portfolio entrepreneurs and management teams reinforces the collaboration between the firm and its entrepreneurial network, which supports deal origination and the future pipeline.

Fund III has already been very active with five investments across Oakley’s core sectors: Schülerhilfe (Education), TechInsights (TMT), Plesk (TMT), Casa.it and atHome.lu (Digital Consumer) and AMOS (Education). These deals further Oakley’s track record of managing complex carve outs and primary deals with a focus on backing the best founders and management teams.

Oakley’s Fund II (a €525 million 2013 vintage fund) continues to be successful, with average year-on-year EBITDA and revenue growth both in excess of  30% for it’s portfolio companies. Following on from the success investment strategy in Fund II, Oakley is leveraging its experience in its core sectors of Digitial Consumer, TMT and Education in Fund III. The Oakley Funds have also had particular success in the German speaking markets, which remains a key focus in the current fund. Fund III seeks to invest in companies with enterprise values between €60 million and €300 million.

Through its three funds, Oakley has completed 25 acquisitions primarily across Western Europe with a combined enterprise value of over €4 billion. Since inception, realised investments have achieved gross returns of 44% IRR and 2.5x money multiple and returned c.€780 million to investors.

Peter Dubens, Managing partner and Co-founder of Oakley, commented:

“We are delighted to announce another successful fundraise, a result of the confidence our investors have in our abilities to continue to identify attractive investment opportunities across Western Europe.

Through our sector expertise, we are able to embrace complexity, buy-in at attractive multiples and generate superior returns.

We continue to draw support from management teams we have previously backed, demonstrating their belief in our entrepreneurial approach to engaging with our portfolio companies in order to grow and develop businesses, whilst delivering compelling returns to investors.

Fund III is off to an excellent start, having already made five acquisitions. With a healthy pipeline, and the continued support of a talented and growing senior leadership team, I am confident that we will continue to deliver strong investment returns for our investors.”

David Till, Senior Partner and Co-founder of Oakley, added:

“As we increase our funds under management, so we have been able to attract the very best people to our firm, a factor that is core to our success in generating strong returns. We all feel incredibly proud of the achievements of the firm and the value created for its investors.”

 

– Ends –

 

For further information please contact:

Oakley Capital Private Equity                                               +44 20 7766 6900

Peter Dubens, Managing Partner

FTI Consulting LLP                                                                     +44 20 3727 1000

Edward Bridges / Stephanie Ellis

About Oakley Capital Private Equity L.P. (“Fund I”), Oakley Capital Private Equity II (“Fund II”) and Oakley Capital Private Equity III (“Fund III”) together the “Oakley Funds”

Oakley Capital Private Equity L.P. and its successor funds, Oakley Capital Private Equity II and Oakley Capital Private Equity III, are unlisted mid-market private equity funds with the aim of providing investors with significant long term capital appreciation. The investment strategy of the funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement.

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Request for a share buyback programme of up to 25% of the outstanding registered shares

Castle Private Equity Ltd today published an invitation for an extraordinary general meeting to seek shareholder approval regarding a fixed-price share buyback programme of up to 25% of outstanding registered shares. In addition, the Board of Directors proposes a reduction of the minimum shareholding for placing items on the agenda.

The main objective of the buyback for cancellation purposes will be to distribute liquidity to shareholders. Castle Private Equity Ltd. will contact major shareholders on their willingness to tender shares to the transaction in the next weeks.

 

If approved by extraordinary general meeting, the share buyback is anticipated to occur subject to conditions in November 2017. Details regarding the transaction will be published following the extraordinary general meeting.

 

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