CapMan Special Situations -fund acquires HopLop Group

Capman

CapMan press release 5 March 2021 at 3.30 p.m. EET

CapMan Special Situations -fund acquires HopLop Group

The first investment of the CapMan Special Situations fund is HopLop, Finland’s largest chain of adventure parks.

CapMan Special Situations fund has acquired 100% of the equity and debt capital of HopLop Group. The transaction enables a critical restructuring of the balance sheet, secures the continuation of the business through the Covid-19 pandemic, and accelerates future growth.

HopLop is the first investment of CapMan’s newly established Special Situations fund that pursues event-driven investment situations by providing flexible capital solutions and strong operational expertise.

HopLop operates a chain of adventure parks and playgrounds for children. The company is a market leader in Finland and has taken first steps to expand internationally. Prior to the outbreak of the Covid-19 pandemic, the business developed well. The company has taken many actions during 2020 to increase efficiency and adapt to the changing situation. With the support of CapMan, the business is well-positioned to focus on its core business and foster new growth.

“HopLop is the first investment for our fund and an important milestone for the execution of the strategy that we launched last summer. The now completed transaction enables the restructuring of HopLop’s balance sheet, the continuation of the business and securing future growth. HopLop’s internationalisation expansion will continue,” says Jari Vikiö, Partner at CapMan Special Situations.

“On behalf of the company, I am pleased with this excellent solution to the company’s challenging situation. CapMan Special Situations enables us to beat the Covid-19 crisis, further develop the company and drive new growth. With the support of CapMan’s experienced team, HopLop’s management is very committed to develop the business further following this transaction,” says Kalle Peltola, who will remain as CEO of HopLop.

CapMan Special Situations invests in event-driven opportunities across economic cycles and industry sectors. At the core of the investment area are demanding corporate restructurings and operational transformations. CapMan Special Situations is a responsible investor, and its mission is to contribute to societal wellbeing by ensuring that viable companies can successfully steer through demanding situations and once again thrive. Antti Uusitalo, Tuomas Rinne and Jari Vikiö serve as Partners of the investment area.

For additional information, please contact:
Jari Vikiö, Partner, CapMan Special Situations, tel. +358 40 505 0733

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 close to €4 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 around 150 people in Helsinki, Stockholm, Copenhagen, 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. Read more at www.capman.com.

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Our £7m investment into multi-award winning villa brand, The Thinking Traveller

Piper

We are excited to have invested £7m into The Thinking Traveller, the world’s most thoughtful villa brand, backing founders and joint-CEOs Huw and Rossella Beaugié and their team in the next stage of growth. They will be joined as Executive Chairman by Ian Simkins, former CEO of Audley Travel, who helped to grow it into a £250m global business.

Founded in 2002 by Huw and Rossella Beaugié, The Thinking Traveller began with seven villas in Sicily. Today it has 220 highly curated properties priced at £3-£50k per week, all 100% exclusively available to rent through The Thinking Traveller. This includes some of the most sought-after villas in the Mediterranean, such as the 16th Century former fortress Forte San Giorgio on the island of Capraia and the aristocratic hilltop Rocca delle Tre Contrade in Eastern Sicily.

Sales grew to £20m in 2019 with more than half of clients from outside the UK and especially popular with US travellers. The business currently covers seven destinations: Sicily, Puglia, The Greek Ionian and Sporades islands, Corsica, and the Minor Italian islands. Most recently The Thinking Traveller announced its expansion to Mallorca with a range of stunning and exclusive villas on the Balearic island.

Popular with multi-generational families, couples and groups of friends, the brand is renowned for its award-winning personal service and the expertise of its in-destination local managers. They provide clients with a 24-hour concierge service and a range of curated experiences to help make their holidays truly memorable, booking guided cultural tours and excursions, in-villa culinary experiences and chefs, yacht charters and yoga teachers.

Having spent the last two years getting to know each other, we have been impressed by their obsession of seeing everything through the lens of their clients and villa owners. It is an obsession that we share wholeheartedly! Impressively, the company’s customer satisfaction NPS is 87, validated by the business being voted Condé Nast Traveller readers’ Best Villa Rental Company for the last five years running.

The team also impressed us with their understanding of the needs of their villa owners, many of whom had been with them exclusively for over ten years and half of whom had never rented out their villa with anyone else. Above all else, owners chose to partner with The Thinking Traveller because they were proud to be associated with a brand that attracts the highest calibre of clients.

Piper’s minority investment will see Huw and Rossella continue to run The Thinking Traveller, remaining joint CEOs and majority shareholders. Our investment will help the business curate a broader selection of exclusive villas in new destinations around the Mediterranean through strategic acquisitions and partnerships as well as marketing the brand further in its core markets including the UK, Europe the US and Australia, and scale the team to ensure clients and owners continue to experience excellent service and support.

The Thinking Traveller has a great opportunity to exploit a hugely fragmented property rental market, made up of a longtail of small destination-specific operators alongside bigger marketplace aggregators, to grow a highly-curated pan-European villa brand. Although the travel industry has been badly hit by Covid, the research we did with their clients showed that they are as eager as ever to travel with them. The Thinking Traveller’s combination of home comforts and five-star services are exactly what clients will look for as we emerge from the pandemic.

If you want to escape this miserable lockdown, we would highly recommend clicking here and browsing their beautiful website. Enjoy!

 

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Successful closing of Dufry’s rights issue sees Advent become a minority investor

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Advent International

LONDON, October 22, 2020 – Dufry AG (SIX: DUFN) (“Dufry”) announces that it has successfully concluded the rights offering. The offer price of the new shares was set at CHF 33.22 per share, corresponding to the volume weighted average price of the existing shares as of market close on October 19, 2020, in line with the pricing mechanism publicly communicated on October 6, 2020. All 24,696,516 offered shares were sold in the offering, resulting in expected gross proceeds of CHF 820 million.

Before the launch of the offering, Dufry had secured equity investment commitments to purchase new shares not taken up by existing shareholders from funds managed by Advent International Corporation or its affiliates (“Advent International”) and a wholly owned subsidiary of Alibaba Group (the “Commitment Shares”). As the number of Commitment Shares exceeds the number of offered shares which were not subscribed for by existing shareholders, the offer price was set in line with the terms of the offering at the price at which the Commitment Investors placed binding orders in the international offering, being CHF 33.22 per new share. No new shares will be sold to the market in the international offering.

10,612,024 new shares were subscribed by existing shareholders as part of the rights offering, 9,178,033 new shares have been allocated to Advent International and 4,906,459 new shares have been allocated to Alibaba Group, corresponding to the maximum possible total of 24,696,516 new shares sold in the offering.

Immediately following the closing of the offering, Advent International will own a stake of 11.4% in Dufry and Alibaba Group of 6.1%. Advent International and Alibaba Group have agreed to a lock-up period of six months following the first day of trading of the new shares.

The new shares are expected to be listed and eligible for trading on SIX Swiss Exchange as of October 22, 2020. The settlement and delivery of the new shares against payment of the subscription price is expected to occur on October 22, 2020.

Based on the offer price of CHF 33.22 per new share, Dufry expects gross proceeds of CHF 820 million. After the capital increase, the share capital of Dufry increases by CHF 123,482,580 from CHF 277,835,830 to CHF 401,318,410, divided into 80,263,682 registered shares with a nominal value of CHF 5.00 each.

Concurrently with the rights offering, Dufry and Alibaba Group have agreed a term sheet under which Alibaba Group shall invest CHF 69.5 million in Dufry via mandatory convertible notes. For this purpose, Dufry shall issue 3-year mandatory convertible notes with a 4.1% coupon per annum to Alibaba Group, convertible into approximately 2.1 million ordinary shares of Dufry at CHF 33.22 per Dufry share.

Pursuant to the terms and conditions of the Dufry Senior Convertible Bonds due 2023, as a result of the Rights Offering, as described in the Offering Circular dated October 6, 2020, in accordance with condition 6.1(c), it is determined that no adjustment to the conversion price shall be made.

For further information please click here.

Media contacts

ADVENT INTERNATIONAL
Germany

Jobst Honig
Tel: +49 (30) 59 00 46 9-13

Jacqueline Niemeyer
Tel: +49 (69) 92 18 74-71
advent@heringschuppener.com

UK
Graeme Wilson or Harry Cameron
Tel: +44 (0)20 7353 4200
Advent@tulchangroup.com

United States
Kerry Golds or Andrew Johnson
Tel: +1 646 805 2000
Adventinternational-US@finsbury.com

DUFRY
Renzo Radice – Global Head Corporate Communications & Public Affairs
Tel: +41 61 266 44 19
Email: renzo.radice@dufry.com

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KKR to Acquire Roompot Group from PAI Partners

KKR

LONDON–(BUSINESS WIRE)–Jun. 18, 2020– KKR, a leading global investment firm, today announces an agreement to acquire Roompot Group, a provider of holiday parks in Western Europe and #1 operator in the Netherlands, from leading European private equity firm PAI Partners. The transaction is subject to customary closing conditions, having already received positive works council advice. Financial terms are not disclosed.

Founded in 1965 in the region of Zeeland (the Netherlands), Roompot has progressively developed to become a leading holiday parks operator in Europe. The business directly owns and operates 33 parks in the Netherlands, Germany and Belgium, and works exclusively with more than 100 third-party park operators to support their booking and distribution efforts and provide development, design and refurbishment services.

Under PAI’s ownership, Roompot has invested significantly in upgrading and expanding its accommodations and opening new parks, developed a strong digital marketing and distribution platform, increased real estate ownership and grown revenue and EBITDA at double digit growth rates. The company now welcomes three million guests and 13 million overnight stays each year, generating revenues of almost EUR 400 million. PAI’s ownership of Roompot continued its strong track record of supporting the growth of consumer companies worldwide, including in the leisure sector with B&B Hotels most recently, and in the Netherlands where it is currently invested in Wessanen, a leading European healthy and sustainable foods company, and Refresco, a leading international bottler of beverages.

KKR will continue to support Roompot’s current management team with its further development into a leading pan-European operator, driven by supportive structural trends around domestic tourism. The investment continues KKR’s track record in the Netherlands with major recent investments including Upfield (formerly Unilever’s Spreads business), Exact Software (a leading provider of accounting software to SMBs) and Q-Park (a pan-European parking services provider).

Jurgen van Cutsem, CEO of Roompot Group, said: “As we change to new ownership we would like to thank PAI, who have been a hugely supportive partner to our team since 2016, and welcome KKR for the next phase. Our focus, as always, will be providing a great service for our leisure customers and third-party providers. We continue to see growing demand from our guests and from our corporate partners due to the leading platform we have put in place, providing a solid foundation to scale the business, also on an international level.”

Daan Knottenbelt, Partner and Head of the Benelux region at KKR, said: “Roompot is already a leading player in the region with a best-in-class management team and a strong recent track record. We see significant further growth potential based on a very strong development pipeline, continued expansion of Roompot’s owned assets and new corporate partnerships. KKR is investing in Roompot through our Core Investments strategy, which is our pool of capital for longer-term investments, and we look forward to working with Jurgen and his team over the coming years.” Joerg Metzner, Director at KKR, added that “We have been looking for a platform to invest behind in the fragmented European holiday parks market for some time. Our support for Roompot and its management team fits perfectly with our broader investment theme in the leisure space.”

Gaëlle d’Engremont, Partner and Head of Food & Consumer at PAI Partners, said: “PAI has accompanied Roompot through an exciting transformation journey since 2016. Roompot has significantly reinforced its offer and its leadership in the Dutch holiday park sector over the past four years under the leadership of Jurgen. We are delighted that KKR will support the strong ambitions of the team to continue this successful trajectory.”

KKR is making its investment through its Core Investments strategy, which represents capital targeting longer-term opportunities. Recent European investments through this strategy include the acquisition of Exact Software in the Netherlands in 2019.

About Roompot
Roompot is the second-largest operator and provider of holiday parks in Europe and a regional market leader in the Netherlands, with a strong and expanding position on the coastal regions. More than 2100 employees are motivated to let 3 million guests enjoy a well-earned vacation each year, representing 13 million overnight stays in Roompot’s 17,000 holiday accommodations. In total Roompot has more than 150 holiday parks in Denmark, the Netherlands, Germany, Belgium, France and Spain in its portfolio, from premium resorts to comfortable parks and pleasing campsites. www.roompot.com

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About PAI Partners
PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. It manages €13.6 billion of dedicated buyout funds and, since 1994, has completed 74 transactions in 11 countries, representing over €50 billion in transaction value. PAI Partners is characterised by its industrial approach to ownership combined with its sector-based organisation. It provides the companies it owns with the financial and strategic support required to pursue their development and enhance strategic value creation. www.paipartners.com

Media Contacts
KKR: international
Alastair Elwen / Alice Neave
Finsbury
+44 (0) 20 7251 3801 or kkr@finsbury.com

KKR: Netherlands
Corina Holla
Meines Holla & Partners
+31 (0)70 362 25 52 or corinaholla@meinesholla.nl

PAI Partners
Head of Communications: Matthieu Roussellier
+44 20 7297 4674
Greenbrook Communications: James Madsen / Fanni Bodri
+44 20 7952 2000

Roompot
PR & Corporate Communications: Baptiste van Outryve
+31 6 30 94 78 24

Source: KKR

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Alt Hotels concludes a $50-million transaction to continue its expansion

Cdpq

Québec, Private Equity Montréal,
 
The Québec chain aims to develop new hotels in the coming years
Germain Hotels announced a new $50-million round of investment in ALT Canada Investment Partnership L.P. The round will enable the company to pursue its growth strategy for the Alt Hotels brand across Canada, namely by developing new hotels in the coming years.Caisse de dépôt et placement du Québec was the lead investor on the transaction, alongside a group of private and institutional investors that includes Investissement Québec, Fonds de solidarité FTQ, iA Financial Group and La Capitale. This is the third round of investment in the hotel chain and brings total investments in Alt Hotels to $210 million since 2011. This capital has paved the way for the brand’s expansion from two hotels in Québec City and Brossard in 2008 to a Canada-wide chain operating or developing 12 locations from Calgary to St. John’s.

Christiane and Jean-Yves Germain, Co-Presidents of Le Germain Hotels, said:

“We are pleased to be able to once again count on the support of our partners, some of whom have been with us since the very beginning of Germain Hotels in 1988. Building on the success of our boutique hotel concept, we are determined to pursue our growth across Canada in the years to come and continue serving clients whose expectations are increasing and are looking for unique experiences.”

Charles Émond, la Caisse’s Executive Vice-President, Québec, Private Equity and Strategic Planning, said:

“Since the creation of Alt Hotels, we have been supporting the expansion of this Québec-based leader, which is successfully navigating a rapidly changing industry where the quality of the guest experience and ability to innovate are key. This latest investment will allow the Alt brand to continue to grow and to add new hotels to the chain, whose success benefits our depositors and showcases Québec talent across Canada.”

ABOUT ALT HOTELS

At Alt Hotels, we march to a different beat by giving guests the best of what they want without any extra fluff. Alt Hotels are located in Calgary, Saskatoon, Winnipeg, Toronto, Ottawa, Québec City, Montréal, Brossard, Halifax and St. John’s, and soon at the Ottawa airport and University of Calgary. Alt Hotels. Stay unconventional.

ABOUT GERMAIN HOTELS

Germain Hotels is a Canadian family-run business that owns and operates Le Germain Hotels, Alt and Alt+ Hotels across Canada. Ranked as one of Canada’s 50 best-managed companies, the business is known for its exceptional hospitality philosophy and the unique style that characterizes its hotels. Celebrating its 30th anniversary in 2018, the 1,500-employee company has already reached its ambitious target of 20 hotels by 2020, and now aims to become the first independent hotel company to offer travellers a truly Canada-wide chain of hotels. Visit Germain Hotels.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2019, it held CAD 326.7 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

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For more information

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Tikehau Capital and Le Groupe de l’Hôtellerie acquire two hotels in Paris

Tikehau

Paris, 5June 2019– Tikehau Capital, the alternative asset management and investment group, with Le Groupe de l’Hôtellerie, the hotel management, investment and development specialist, acquire two hotels in central Paris through Tikehau Capital’s Real Estate value-added fund.

The Hotel Corona Opéra and the Hotel Touraine Opéra are both three star hotels with a combined capacity of 97 rooms. These hotelsare located in the historical 9thdistrict of Paris, close to the Paris Opera and the large department stores. Built during the 19th century, the hotels have strong potential for development while the hospitality and leisure sector in Paris is growing 1and offers many opportunities.

A third acquisition for Tikehau Capital’s Real Estate value-added fund

This operation is Tikehau Capital’s Real Estate Value-Added fund third acquisition following its partnership with Bouygues Immobilier, for the Charenton-Bercy redevelopment project in the Greater Paris area, and the acquisition of the Nicholsons Shopping Center in Maidenhead, United Kingdom.

Launched in June 2018, this pan-European value-added fund investing across all asset classes is a vehicle that offers co-investment opportunities to large institutional investors.

Tikehau Capital’s Head of Real Estate Frédéric Jariel said: “This investment is another step in the deployment of our value-added fund and confirms our interest in the hospitality sector as part of the dynamic expansion ofour Real Estate activity”. An operation carried out in collaboration with Le Groupe de l’Hôtellerie Le Groupe de l’Hôtellerie is a French based hotel management, investment and development specialist, which accompanies Tikehau Capital as a hospitality-operating partner.

Le Groupe de l’Hôtellerie’s CEO Gilles Douillard added: “We are excited to work closely with Tikehau Capital on this operation. The hospitality sector offers many opportunities for value-added development projects and we are pleased to share our expertise to support this project”.1Parisian Regional Tourism Committee: In the hotel industry, with 35.0 million guests in 2018, the number of arrivals was up by 3.6% compared to 2017

About Tikehau Capital

Tikehau Capital is an asset management and investment group with €22.4billion of assets under management and shareholders’ equity of €2.3 billion (as at 31 March 2019). The Group invests in various asset classes (private debt, real estate, private equity and liquid strategies), including through its asset management subsidiaries, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs more than 440 staff (as at 31 March 2019) in its Paris, London, Brussels, Madrid, Milan, New York, Seoul,Singapore and Tokyo offices. Tikehau Capital is listed on the regulated market of Euronext Paris, Compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)www.tikehaucapital.comPress contactsTikehau Capital: Jawad Khatib–+33 1 40 06 11 27 France -Image 7 : Grégoire Lucas & Florence Coupry –+33 1 53 70 74 70UK -Finsbury: Arnaud Salla & Charles O’Brien –+44 207 251 3801press@tikehaucapital.com

Shareholderand Investor Contact:

Tikehau Capital: Louis Igonet –+33 1 40 06 11 11shareholders@tikehaucapital.com

DISCLAIMER:

This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed.Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital’s advisory activities in the US or with respect to US persons relates to Tikehau Capital North America.

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riton to acquire Corendon through Sunweb

Triton

Stockholm (Sweden) / Amsterdam (Netherlands) 03 June 2019 –Triton is to acquire the tour operating activities of Corendon Holiday Group (Corendon) through Sunweb Group (Sunweb), a Triton Fund V portfolio company. Final agreement is still subject to regulatory approvals and to employee consultation procedures. Terms of the transaction are not disclosed.

Corendon is a leading tour operator group in the Netherlands and Belgium. Founded in 2000, it creates fully integrated holiday experiences for more than 750,000 customers with a EUR 515m turnover. When completed, the acquisition will merge Sunweb and Corendon into a joint company under Triton´s support taking advantage of enhanced scale, financial strength, innovation culture, a larger client base and airline capacity.

– The value chain in travel is changing, and Corendon has proven that its position and business model is resilient and winning in this complex environment. The entrepreneurial DNA and the shared mission of both Sunweb and Corendon to deliver the best possible holiday experience for customers will make sure that we will keep on expanding our position in the European travel market. As owners we strive to maintain and preserve the cultures of both Corendon and Sunweb to provide a great place to work. The combination will also provide a strong platform to continue investing in innovation, sustainable travel and digitalization to deliver a superior customer experience and exceed the expectations of the future traveler,” said Per Agebäck, Investment Advisory Professional, Sector Leader for Consumer and advisor to the Triton Funds.

The agreement between Sunweb and Corendon consists of the Corendon tour operating activities in Holland and Belgium, the back-office operations in Turkey and Corendon Dutch Airlines. It also includes Corendon´s brands Karin’s Choice, Maris Life, Stip, and GOfun. The Turkish and European airline and the hotels of Corendon Hotels & Resorts are not part of the transaction.

While leveraging the operational synergies by merging under one company and ownership, Sunweb and Corendon will keep their current brands and organizational structures

– The merger of Sunweb and Corendon is a natural and logical step. For the last years, both Sunweb and Corendon have managed to stay ahead as competitors in an ever-changing travel industry. A key driver for the continued growth and development has not only been the strong product offering but also the digitalisation of both brands. We will continue our ambitious growth agenda, focusing on selecting best-in-breed technology and processes and making significant investments in innovations in order to maintain our competitive advantage in an increasingly digital-first world, said Gert de Caluwe, CEO of Sunweb Group.

About Sunweb Group

Sunweb Group is one of the leading travel groups in Europe. It is the driving force behind numerous brands operating within eight international markets: The Netherlands, Belgium, Denmark, Sweden, Norway, United Kingdom, Germany and France. Sunweb is the flagship brand of the group.

Sunweb is a pure online player for package holidays towards sun and winter sport destinations. Sunweb Group employs approximately 500 individuals and sends more than 400 representatives on to various holiday destinations to support its customers.

The Sunweb Group has a pan-European identity: headquarters in Netherlands and Switzerland, software and web development in Girona and various sales offices around Europe. The combination of a centralized organization, unique self-contracted hotel and flight inventory and a strong online business model has resulted in one million happy clients for Sunweb Group last year. Sunweb Group was acquired by Triton Fund V in February 2019.

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors.

The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 38 companies currently in Triton’s portfolio have combined sales of around €14.9billion and around 72,000 employees.

Press Contacts

Triton
Fredrik Hazén

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Travelport Worldwide Limited announces completion of acquisition by affiliates of Siris Capital Group, LLC and Evergreen Coast Capital Corp.

Siris

Langley, U.K., May 30, 2019: Travelport Worldwide Limited (“Travelport” or the “Company”), a leading travel technology company, announced today the completion of its acquisition by affiliates of Siris Capital Group, LLC (“Siris”) and Evergreen Coast Capital Corp. (“Evergreen”) in an all-cash transaction valued at approximately $4.4 billion.

The transaction, which was originally announced on December 10, 2018, was approved by Travelport’s shareholders on March 15, 2019. In connection with the closing of the transaction, the Company, which will continue to operate as Travelport Worldwide Limited, will be wholly owned by affiliates of Siris and Evergreen, and Travelport’s common shares will be delisted from the New York Stock Exchange.

The Board of Directors of the new Travelport operating company will be led by Executive Chairman John Swainson, a Siris executive partner and a former executive at IBM Corporation, CA, Inc. (formerly Computer Associates) and the Dell Software group.

Commenting on the transaction closing, John Swainson said: “Through its best-in-class distribution capabilities, technology services, innovative payment solutions, and other value-additive digital tools for the global travel industry, Travelport is well positioned to deploy its global scale and local expertise to deliver key solutions for travel suppliers and agencies. With the combined support of Siris and Evergreen, I look forward to partnering with management to drive new opportunities for innovation and growth.”

Gordon Wilson, President and CEO of Travelport, commented: “We have commenced building a great relationship with the Siris and Evergreen teams. We now look forward to working closely alongside them as we continue to develop and invest in our platform to serve the evolving needs of our customers. We are confident that Siris’ and Evergreen’s support will enable Travelport to execute on its strategy in an exciting new phase of innovation and industry leadership.”

About Travelport (www.travelport.com)

Travelport is the technology company which makes the experience of buying and managing travel continually better. It operates a travel commerce platform providing distribution, technology, payment and other solutions for the global travel and tourism industry. The company facilitates travel commerce by connecting the world’s leading travel providers with online and offline travel buyers in a proprietary business-to-business (B2B) travel platform.

Travelport has a leading position in airline merchandising, hotel content and distribution, car rental, mobile commerce and B2B payment solutions. The company also provides IT services to airlines, such as shopping, ticketing, departure control and other solutions. With net revenue of over $2.5 billion in 2018, Travelport is headquartered in Langley, U.K., has over 3,700 employees and is represented in approximately 180 countries and territories.

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions.  Siris’ development of proprietary research to identify opportunities and its extensive collaboration with its executive partners are integral to its approach.  Siris’ executive partners are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value.  Siris is based in New York and Silicon Valley and has raised nearly $6 billion in cumulative capital commitments. www.siris.com

About Elliott and Evergreen

Elliott Management Corporation manages two multi-strategy investment funds which combined have more than $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. This investment has been led by Evergreen Coast Capital, Elliott’s Menlo Park affiliate, which focuses on technology investing.

Travelport Media Contact:

Julian Eccles
VP PR and Communications
Tel: +44 (0)7720 409374
julian.eccles@travelport.com

Travelport Investor Relations contact:

Peter Russell
Head of Treasury and Investor Relations
Tel: +44 (0)1753 288 248
peter.russell@travelport.com

Siris:

Dana Gorman
Managing Director, Abernathy MacGregor
Tel: +1 212 371 5999
dtg@abmac.com

Blair Hennessy
Senior Vice President, Abernathy MacGregor
Tel: +1 212 371 5999
bth@abmac.com

Elliott/Evergreen:

Stephen Spruiell
Tel: +1 212 478 2017
sspruiell@elliottmgmt.com


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Aurelius subsidiary GHOTEL Hotel & Living opens Hotel in OSNABRÜCK

Aurelius Capital

  • GHOTEL will operate the hotel under the Holiday Inn brand name
  • 30th Holiday Inn in Germany

Munich, May 29, 2019 – Hotel operator GHOTEL hotel & living (www.ghotel.de), a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8), has opened a modern 4-star Holiday Inn hotel in Osnabrück, Germany. The hotel is operated under franchise for the InterContinental Hotels Group under the Holiday Inn brand, and is the 30th Holiday Inn in Germany. The new hotel is centrally located, close to the Osnabrück main railway station and just 33 kilometers from the Münster/Osnabrück airport. This four-star property has 158 modern guest rooms, three professionally fitted-out conference rooms and a spa area.

Mario Maxeiner, Managing Director Northern Europe, said: “Holiday Inn and Holiday Inn Express are strong brands in the midscale segment that are tremendous growth drivers for us, not just here in Germany, but Europe-wide. The two brands are so successful because we continually work to make them ever more attractive, for guests as well as owners. With the GHOTEL Group we are delighted to have another strong partner who is as committed to the Holiday Inn brand as we are.”

Jens Lehmann, CEO of the GHOTEL Group, added: “The Osnabrück Holiday Inn fits perfectly in our portfolio. With this property we are continuing our growth course and strengthening our partnership with IHG.”

 

ABOUT GHOTEL

GHOTEL hotel & living is an expanding hotel and apartment building chain with 14 properties in several cities in Germany including Kiel, Hanover, Göttingen, Koblenz, Munich, Würzburg, Essen, Ludwigsburg and Neckarsulm. These business hotels with modern conference rooms are marketed under the GHOTEL hotel & living and nestor Hotels brands, and the franchise brands Accor and InterContinental Hotels Group. Under the GHOTEL living brand, GHOTEL hotel & living also operates “temporary residence” apartment buildings in Bonn and Munich. GHOTEL hotel & living is headquartered in Bonn, and since December 2006 has belonged to the AURELIUS Group.

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CapMan Buyout has sold shares in Harvia Plc

CapMan Buyout X Fund A L.P and CapMan Buyout X Fund B Ky (together the “funds managed by CapMan”) have sold part of their shares in Harvia Plc (”Harvia” or the ”Company”) in an accelerated book-building to a limited number of institutional investors (the ”Share Sale”). The funds managed by CapMan sold a total of 12.3 per cent of the shares and votes in the Company. The subscription price in the Share Sale was set at EUR 6.00 per share and the gross sales proceeds amounted to approximately EUR 13.8 million. After the Share Sale, the funds managed by CapMan own 12.3 per cent of the shares in the Company.

In connection with the Share Sale, the funds managed by CapMan have entered into a lock-up undertaking, under which they have, subject to certain exceptions, agreed not to sell any shares in Harvia for a period ending May 7, 2019.

Pia Kåll, Managing Partner of CapMan Buyout, comments: “CapMan has supported Harvia through a number of important milestones and will continue with a 12.3 per cent stake. Following our investment in 2014, together with the management we developed and implemented a new growth strategy for the company, as a result of which Harvia is one of the leading sauna and spa companies in the world. This is an excellent basis for both current and new owners to continue from.”

Danske Bank A/S, Finland Branch acted as the Sole Lead Manager in the Share Sale.

Further information:
Pia Kåll, Managing Partner, CapMan Buyout, +358 207 207 555

Disclaimer
Danske Bank acted exclusively for the funds managed by CapMan and no one else and it will not regard any other person (whether or not a recipient of this release) as their respective client in relation to the Share Sale. Danske Bank will not be responsible to anyone other than the funds managed by CapMan for providing the protections afforded to their respective clients and will not give advice in relation to the Share Sale or any transaction or arrangement referred to herein. Danske Bank assumes no responsibility for the accuracy, completeness or verification of the information set forth in this release and, accordingly, disclaim, to the fullest extent permitted by applicable law, any and all liability which they may otherwise be found to have in respect of this release. Nothing contained in this release is, or shall be relied upon as, a promise or representation as to the past or the future.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa or any other country where such publication or distribution would be unlawful. This release does not constitute an offer of securities for sale in any country. The securities mentioned herein have not been registered under the U.S. Securities Act of 1933, as amended, or the rules and regulations thereunder.

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. CapMan employs today approximately 120 private equity professionals and has 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 currently includes procurement services, fundraising advisory and fund management services. www.capman.com

 

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