Shippeo raises €20 million to provide real-time visibility into the global supply chain

Ngp Logo

Shippeo, the leading supply chain visibility provider in Europe, announces the closing of a €20 million Series B round co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures and Partech.

Shippeo provides predictive and real-time visibility into goods delivery. The AI-based platform aggregates data from hundreds of sources in real-time to calculate the estimated time of delivery arrival with 98% accuracy. Since its creation in 2014, Shippeo has successfully scaled its operations and is now servicing more than 50 large customers, such as Schneider Electric, Carrefour, Eckes-Granini and Leroy Merlin, across 40 countries. The team has grown tenfold and Shippeo now employs 80 people in seven different offices across Europe.

Over the last year, Shippeo has increased its turnover by 300%, positioning itself as one of the fastest-growing start-ups in Europe.

The Series B round of €20 million in new equity is co-lead by NGP Capital and ETF Partners with participation from Bpifrance Digital Ventures. Partech, who participated in the Series A round, also took part in this new funding, reaffirming its trust in Shippeo and its long-term support to the management team

Pierre Khoury – CEO and Lucien Besse – COO of Shippeo, said:

“Welcoming top-tier investors is a great source of pride for Shippeo. Their international reach and strong experience in the mobility sector will be a major asset when implementing our ambitious strategy to become the global leader of a $6 billion market. By revolutionizing supply chain visibility, Shippeo aims to unlock value for shippers and carriers, and in the long run, reinvent freight transport.”

Bo Ilsoe, Partner of NGP Capital, stated: “Working with great entrepreneurs is our core mission at NGP Capital and we are honoured to join Pierre, Lucien and the talented Shippeo team in their continued journey. The supply chain industry is ripe for increased digitization and we look forward to adding-value to the company through our global model and network.”

Remy de Tonnac, Partner at ETF Partners, said: “Shippeo created an outstanding platform to help Shippers embrace the efficiency of « Industry 4.0 » with superb customer experience. Going forward, Shippeo’s platform will also help the transportation industry to have much better visibility on its environmental impact and thus will drive significant improvements here for the benefit of all stakeholders.”

Shippeo will use the Series B funding:

  • To further strengthen its market-leading position in Europe by multiplying the customer base times five while maintaining very high customer satisfaction,
  • To expand the team by 150 new recruits in data science, IT, sales and operations,
  • To triple its R&D investment in AI and automatization to achieve increased operational excellence and increased customer visibility into the supply chain.

The supply chain industry remains fragmented and underserved from a technology standpoint. With more than 600.000 road freight companies in Europe alone, digitization offers a tremendous opportunity for industry disruption and Shippeo is leading the way in decreasing fragmentation and increasing real-time visibility into freight delivery.

Latour completes acquisition of Caljan

Latour logo

On October 11, Investment AB Latour signed an agreement to acquire Caljan based in Århus, Denmark. All closing conditions have now been fulfilled and the transaction has been completed as of November 29.

Göteborg, November 29, 2019

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Johan Hjertonsson, President and CEO Investment AB Latour +46 702 29 77 93
Anders Mörck, CFO Investment AB Latour +46 706 46 52 11
Gustav Samuelsson, Director M&A, Investment AB Latour, +46 46 735 52 55 59
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 64 billion. The wholly-owned industrial operations have an annual turnover of about SEK 13 billion.

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Tosca to acquire Polymer Logistics

Apax

Addition of Polymer Logistics will enhance Tosca’s geographic and product diversification and build on strong innovation platform

Atlanta, Georgia, USA, October 16, 2019: Tosca, an innovator in reusable packaging and supply chain solutions in the United States, announced today that it has agreed to acquire Polymer Logistics (“Polymer”), an innovative company specializing in reusable transport packaging and retail merchandising systems in the United States and Europe, from a consortium of private investors.

Tosca to acquire Polymer Logistics

In conjunction with the transaction, funds advised by Apax Partners (the “Apax Funds”), which acquired Tosca in 2017, will commit additional capital to Tosca to fund the acquisition of Polymer. Terms of the transaction were not disclosed.

Tosca has a 60-year history of innovation that has driven its growth into a leading North American provider of reusable packaging and supply chain solutions across a wide array of markets. Today the company employs more than 950 people and operates 14 service centers across the US, working with the nation’s largest and most influential grocery retailers and suppliers to provide solutions for shipping perishables, reducing shrink and driving supply chain efficiency.

Founded in 1994, Polymer is a leader in retail ready packaging systems and technologies. The company provides reusable containers and other packaging and related services to grocery end markets, as well as retail, logistics and consumer goods customers. Its manufacturing operations are based in Israel and the company operates across the US, the UK and Continental Europe.

The acquisition of Polymer will expand Tosca’s geographic reach and increase its product portfolio. This will offer customers a stronger value proposition through increased network density, particularly in the US, and an expanded product offering.

Eric Frank, CEO of Tosca stated: “The acquisition of Polymer represents a major milestone in Tosca’s growth. Polymer is a leading RPC provider, with a broad international footprint, vertically integrated manufacturing operation, and a shared focus on innovation that will allow us to significantly enhance our geographic reach and offer customers an expanded product line to better meet their needs.”

Ashish Karandikar, Partner at Apax Partners, said: “We are excited to support Tosca in this transformational acquisition. Polymer has a strong track record of financial performance and a culture of innovation. The acquisition allows Tosca to access attractive markets outside of the US, while benefiting from scale, cross-selling opportunities, and collaboration on innovation.”

Gideon Feiner, Founder and CEO of Polymer Logistics, noted: “Tosca and Polymer have a shared commitment to service excellence, innovation and reducing waste throughout the supply chain. I am excited about the possibilities that will be created by our combined company and am looking forward to stepping into a new leadership role at the planned Cleanpal® unit.”

Following the close of the acquisition, Tosca intends to carve out Polymer’s Cleanpal® reusable pallets business as a separate unit within the company. Polymer Founder and CEO Gideon Feiner will assume the role of its CEO.

About Tosca 

Tosca is a leading provider of reusable packaging and supply chain solutions across a diverse range of products including eggs, case-ready meat, poultry, produce, and cheese. Our proven RPC system is a smarter way to move fresh product safely from source to shelf, substantially reducing shrink and labor cost, maintaining product quality, and optimizing overall supply chain efficiency for retailers, growers, and suppliers. For more information visit: www.toscaltd.com.

About Polymer

Polymer Logistics is a provider of Retail Returnable Packaging (“RRP”) solutions to leading retailers and suppliers mainly in the US, Continental Europe and the UK. It designs and supplies reusable RRP units that function as both transport storage containers/pallets and in-store displays. The Group is a provider of pool equipment services, supplying RRP units directly to retailers, or indirectly to major suppliers to retailers, through rental agreements. Both methods are aimed at establishing long term rental relationships with customers. Polymer Logistics is based in The Netherlands with subsidiaries in the UK, Italy, Israel, the US and branch offices in Spain and in Austria.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts

For Tosca

Susan Heil, Tosca I +1 920 569 5335 I sheil@toscaltd.com

For Polymer Logistics

Shlomit Gotlib, Polymer Logistics I +97 2 54 6923064 I Shlomit.Gotlib@polymerlogistics.com

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Tosca to acquire Polymer Logistics

Apax

Addition of Polymer Logistics will enhance Tosca’s geographic and product diversification and build on strong innovation platform

Atlanta, Georgia, USA, October 16, 2019: Tosca, an innovator in reusable packaging and supply chain solutions in the United States, announced today that it has agreed to acquire Polymer Logistics (“Polymer”), an innovative company specializing in reusable transport packaging and retail merchandising systems in the United States and Europe, from a consortium of private investors.

In conjunction with the transaction, funds advised by Apax Partners (the “Apax Funds”), which acquired Tosca in 2017, will commit additional capital to Tosca to fund the acquisition of Polymer. Terms of the transaction were not disclosed.

Tosca has a 60-year history of innovation that has driven its growth into a leading North American provider of reusable packaging and supply chain solutions across a wide array of markets. Today the company employs more than 950 people and operates 14 service centers across the US, working with the nation’s largest and most influential grocery retailers and suppliers to provide solutions for shipping perishables, reducing shrink and driving supply chain efficiency.

Founded in 1994, Polymer is a leader in retail ready packaging systems and technologies. The company provides reusable containers and other packaging and related services to grocery end markets, as well as retail, logistics and consumer goods customers. Its manufacturing operations are based in Israel and the company operates across the US, the UK and Continental Europe.

The acquisition of Polymer will expand Tosca’s geographic reach and increase its product portfolio. This will offer customers a stronger value proposition through increased network density, particularly in the US, and an expanded product offering.

Eric Frank, CEO of Tosca stated: “The acquisition of Polymer represents a major milestone in Tosca’s growth. Polymer is a leading RPC provider, with a broad international footprint, vertically integrated manufacturing operation, and a shared focus on innovation that will allow us to significantly enhance our geographic reach and offer customers an expanded product line to better meet their needs.”

Ashish Karandikar, Partner at Apax Partners, said: “We are excited to support Tosca in this transformational acquisition. Polymer has a strong track record of financial performance and a culture of innovation. The acquisition allows Tosca to access attractive markets outside of the US, while benefiting from scale, cross-selling opportunities, and collaboration on innovation.”

Gideon Feiner, Founder and CEO of Polymer Logistics, noted: “Tosca and Polymer have a shared commitment to service excellence, innovation and reducing waste throughout the supply chain. I am excited about the possibilities that will be created by our combined company and am looking forward to stepping into a new leadership role at the planned Cleanpal® unit.”

Following the close of the acquisition, Tosca intends to carve out Polymer’s Cleanpal® reusable pallets business as a separate unit within the company. Polymer Founder and CEO Gideon Feiner will assume the role of its CEO.

About Tosca 

Tosca is a leading provider of reusable packaging and supply chain solutions across a diverse range of products including eggs, case-ready meat, poultry, produce, and cheese. Our proven RPC system is a smarter way to move fresh product safely from source to shelf, substantially reducing shrink and labor cost, maintaining product quality, and optimizing overall supply chain efficiency for retailers, growers, and suppliers. For more information visit: www.toscaltd.com.

About Polymer

Polymer Logistics is a provider of Retail Returnable Packaging (“RRP”) solutions to leading retailers and suppliers mainly in the US, Continental Europe and the UK. It designs and supplies reusable RRP units that function as both transport storage containers/pallets and in-store displays. The Group is a provider of pool equipment services, supplying RRP units directly to retailers, or indirectly to major suppliers to retailers, through rental agreements. Both methods are aimed at establishing long term rental relationships with customers. Polymer Logistics is based in The Netherlands with subsidiaries in the UK, Italy, Israel, the US and branch offices in Spain and in Austria.

About Apax Partners

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts

For Tosca

Susan Heil, Tosca I +1 920 569 5335 I sheil@toscaltd.com

For Polymer Logistics

Shlomit Gotlib, Polymer Logistics I +97 2 54 6923064 I Shlomit.Gotlib@polymerlogistics.com

For Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst CNC | +1 212 521 4854 | todd.fogarty@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

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Latour acquires Caljan

Latour logo

Investment AB Latour (publ) has signed an agreement to acquire Caljan based in Aarhus, Denmark. The acquisition, which requires approval from European authorities, is expected to close in December.

Caljan is a leading supplier of automation technology for parcel handling in the logistics and e-commerce sectors. The product offering includes telescopic conveyors, automatic label and document handling and solutions for logistics depots. The company, founded in 1963, has headquarter in Denmark and subsidiaries in Germany, France, UK, Latvia and USA. Net sales amount to approx. EUR 100 million, with an operating margin exceeding 15 per cent and with strong growth. The company has 450 employees.

“Caljan is a high-performer with a market leading position in the logistics sector and strong customer relationships with prominent logistics and e-commerce companies. We are pleased with this acquisition and convinced that Caljan is well positioned for continued global growth, driven primarily by strong developments within e-commerce. Additionally, Caljan gives us interesting exposure to a new segment with a robust underlying global trend. We welcome Caljan as a new business area to our wholly-owned industrial operations”, says Johan Hjertonsson, CEO of Investment AB Latour.

“I am delighted to embrace Latour as our new owners. They are a long-term industrial owner that can support Caljan’s plans for expanding into new technologies and new markets”, says Henrik Olesen, CEO of Caljan.

As a result of the acquisition the net debt (excluding IFRS 16) of Investment AB Latour is expected to increase by EUR 250 m.

Göteborg, 11 October, 2019

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson
President and CEO

For further information, please contact:
Johan Hjertonsson, President and CEO Investment AB Latour +46 702 29 77 93
Anders Mörck, CFO Investment AB Latour +46 706 46 52 11
Gustav Samuelsson, Director M&A, Investment AB Latour, +46 46 735 52 55 59

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations have an annual turnover of about SEK 12 billion.

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Ardian acquires a majority stake in Staci, a European leader in specialty logistics

Ardian

Paris, October 8, 2019 – Ardian, a world leading private investment house, announced today that it has acquired a majority stake in Staci, a European leader in specialty logistics, from Cobepa. The management team led by Thomas Mortier, as well as Société Générale’s investment teams, are reinvesting alongside Ardian.

Founded in 1989, Staci is an independent company that has grown to become one of the European leaders in innovative B2B and B2B2C logistics solutions for companies wishing to outsource all or part of their network or customer procurement operations. The company has a unique know-how in management of complex and scalable logistics flows, such as in dealing with a multitude of suppliers and delivery points, low unit volumes, non-standard formats, barcoded and non-barcoded products. In particular, the company has developed a strong expertise in the logistics of advertising and promotional media.

Staci has a leading position in its market niche, based on a model of pooling its warehouses and resources and its portfolio of services, which are all built around a proprietary IT system. Staci is present throughout Europe with a wide spectrum of clients ranging from multinational groups to local companies across several sectors, including food, health and cosmetics, telecoms and financial services. Staci has about 1,900 employees and generated more than 250 million euros in turnover in 2018.

Thomas Mortier, CEO of Staci, said: “Staci employees are delighted to open this new page in the company’s history with Ardian. The management team has reinvested very significantly in the business and we share the same values and vision with the Ardian team with regards to Staci’s development strategy in France and abroad. I would like to thank our employees, partners and shareholders for their commitment, support and professionalism, which every day contribute to the quality of the services we provide to our customers.“

Lise Fauconnier, Managing Director, and Alexandre Vannelle, Director at Ardian Buyout, said: “We are proud to invest in Staci to accelerate the next phase of its development and to support Thomas Mortier and his team. The high quality of the relationships established, and their strong growth reflect the company’s excellence. Alongside the management team, we will continue to develop Staci and consolidate its presence in key geographical areas through strategic acquisitions, in a market that is still very fragmented.“

Jean-Marie Laurent Josi, CEO, and Charles-Henri Chaliac, Member of the Executive Committee of Cobepa, said: “We are delighted to have been able to support Thomas Mortier and his team in the execution of a truly transformative strategic plan for the Staci Group, which has been able to both strengthen its position in its local market, while fulfilling its international ambitions and simultaneously strengthening links with its main customers. The Group’s unique know-how, coupled with its strong potential for organic and acquisitive growth, enables it to move smoothly into its new development phase with the support of Ardian.”

Staci is the fifth investment of Ardian’s Buyout team in 2019. With 49 employees in Paris, Frankfurt, Milan and London, the team invests in high-quality mid- and large-cap companies across Western Europe, applying transformation strategies that enable them to become world leaders in their niche markets.

ABOUT STACI

Since 1989, STACI has specialized in fulfilment and offers innovative B2B and B2C solutions to a wide range of industries: pharmaceutical & healthcare, automotive, telecom, retail, hotels & restaurants, tourism, food & beverage, bank & insurance.

With a unique expertise in multi-clients shared warehouses across Europe, STACI implements custom-made and cost effective logistic solutions for bar-coded products – cosmetics, broadband boxes, spare parts, high tech products… and non-bar-coded items – POS and merchandising material, marketing and communication print, goodies.

Thanks to the know-how, the processes and the experience that the company has developed around fulfilment, pick & pack, shared resources, transport optimization, IT systems and stock financing, STACI is able to offer unique and fully integrated supply chain management solutions.

Staci operates 25 warehouses in Benelux, France, Germany, Italy, Spain and the UK with 1,300 employees and has achieved 154M€ sales in 2016. STACI is a CSR-driven business with sustainable growth as its core strategy for many years.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 640 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT COBEPA

Cobepa is an independent, privately-held investment company backed by European family shareholders and managing a diversified investment portfolio valued at around €2,6 bn. Cobepa invests in established companies with a solid business model, sustainable market position and strong management team. Other important criteria relate to the capacity to generate cash flow, international presence and development potential.

LIST OF PARTICIPANTS

Ardian : Lise Fauconnier, Alexandre Vannelle, Rafik Alili, Maxime Debost, Anaïs Robin
M&A advisor: Raphaël Advisory (Florent Haïk)
Legal advisor: Weil, Gotshal & Manges ((David Aknin, Guillaume Bonnard, Côme Wirz (corporate), Edouard de Lamy, Alexandre Groult (tax))
Commercial and strategic advisor: Bain & Company (Jérôme Brunet, Doris Galan, Guillaume Levrey)
Financial advisor: Eight Advisory (Eric Demuyt, Pierre-David Forterre)
Financing legal advisor: Latham & Watkins (Lionel Dechmann)

Cobepa: Charles-Henri Chaliac, Lars Lapp, Nicolas Beudin
Legal advisor: Latham & Watkins (Gaëtan Gianasso, Michael Colle)
Financial advisor: Alvarez & Marsal (Donatien Chenu, Benoît Bestion, Alexandre de Vazelhes)

Management advisors
Legal advisors: Natixis Wealth Management (Frédéric Balochard, Florian Pascaud), Scotto Partners (Franck Vacher)

PRESS CONTACTS

STACI
Chupa Renie Communication
Tel: +33 (0)1 43 18 12 37
margaux@chuparenie.com
ARDIAN
Headland
TOM JAMES
Tel: +44 207 3675 240
tjames@headlandconsultancy.co.uk

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Blackstone Completes the Acquisition of U.S. Logistics Assets from GLP, Adding to Firm’s Leading Global Portfolio

Blackstone

New York, September 26, 2019 – Blackstone (NYSE: BX) today announced that it has closed on its previously announced acquisition of U.S. logistics assets from three of GLP’s U.S. funds for a purchase price of $18.7 billion.

As previously announced, Blackstone Real Estate’s global opportunistic BREP strategy is acquiring 115 million square feet for $13.4 billion and its income-oriented non-listed REIT, Blackstone Real Estate Income Trust (BREIT), is acquiring 64 million square feet for $5.3 billion.

Blackstone and GLP announced the transaction on June 2, 2019.

Citibank, Deutsche Bank Securities Inc., BofA Merrill Lynch, J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Wells Fargo, Nuveen and Prudential are providing financing for the acquisition. Simpson Thacher & Bartlett served as legal counsel to Blackstone.

BofA Merrill Lynch, Barclays, Deutsche Bank Securities Inc., J.P. Morgan and Morgan Stanley & Co. LLC served as financial advisors to Blackstone. Citigroup Global Markets Inc., Eastdil Secured LLC and Goldman Sachs & Co. LLC served as Blackstone’s financing advisor.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Contact
Jennifer Friedman
Jennifer.Friedman@blackstone.com
Tel: (212) 583-5122

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DWS Fund to acquire Hansea, a leading Belgian public transport infrastructure operator, from Cube Infrastructure Fund and Gimv

GIMV

Cube Infrastructure Fund (Cube) and Gimv today announce the sale of Hansea to a fund managed by DWS (“DWS”), a global infrastructure manager. With the support of its investors, the company has focused on organic growth and an active buy & grow strategy since 2014.

In 2014, Cube and Gimv acquired Hansea (Antwerp, www.hansea.be). With a fleet of 811 buses and around 1,200 employees, Hansea is the largest private bus company in Flanders. The company is responsible for daily urban and regional connections on behalf of the public transport companies, De Lijn and TEC. Hansea is also active in school and personnel transport and bus charter services.

Thanks to the entry of Cube and Gimv, Hansea obtained the capital and the independence to successfully realize strong growth of its activity and to complete four acquisitions.

Today, Cube and Gimv announce that they will sell their stake in Hansea to DWS. Together with Hansea’s management team and employees, the new investor intends to continue to build on this growth trajectory, as a stable partner that provides an excellent service to its customers.

Luc Jullet, CEO of Hansea: We are convinced to be able to continue our growth strategy started with Cube and Gimv with the support of our new shareholder in order to become the indispensable mobility provider in Belgium.”

Hamish Mackenzie, Global Head of Infrastructure at DWS said: “We are delighted to invest in one of the best companies operating in the public transportation sector in Europe. We have identified local and regional public transportation as an attractive sector for our funds given the strong macro fundamentals, supportive regulation and rising investment needs driven by the European green agenda. Hansea stood out as one of the most efficient companies operating in this sector, led by a solid and experienced management team and with significant potential to grow further as an independent operator with a strong connection to the local communities and public transport authorities of the Flanders and Wallonia regions. Cube and Gimv have done an excellent job in growing the company in the past years and we believe that with our track record as infrastructure investors in the Benelux region, along with our strong international brand we will be able to support and accelerate the ambitions of the management team going forward.”

Jérôme Jeauffroy, Managing Partner of Cube Infrastructure Managers, Cube adds: “We are delighted to see DWS as the new shareholder, who share the same vision for Hansea as an infrastructure platform to further expand and recognize the full growth potential of the Company. We believe that Hansea will continue to flourish in the coming years thanks to the support of DWS and the leadership of its CEO and management team.”

Ruben Monballieu, Principal in Gimv’s Sustainable Cities platform adds: “As a Sustainable Cities team we are proud that we have been able to support Hansea’s management in a successful growth trajectory over the past 5 years, and as such could contribute to a more environmentally friendly mobility in Belgium.

With the exit of Hansea, the last participation of the Gimv-XL fund has been sold. Launched in 2009, this fund could generate strong returns through a series of successful investments in large Flemish companies. No further financial details are provided on the transaction. This transaction has no material impact on the NAV of Gimv.

The transaction is subject to the customary closing conditions, including approval by the competition authorities.

DC Advisory acted as exclusive financial adviser to Cube and Gimv during the transaction. Linklaters acted as legal adviser to the sellers. Macquarie and Stibbe acted as advisers to the buyers.

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Adelis successfully exits Logent

Adelis Equity

Adelis Equity Partners Fund I (“Adelis”) has sold its majority stake in Logent AB (“Logent”) to Stirling Square Capital Partners.

In 2013, Adelis acquired a majority stake in Logent. During Adelis’ ownership, the company has been strategically repositioned from a logistics staffing-focused company to a leading contract logistics provider, offering high value-added services.

”Mats Steen, Sara Fors and the rest of Logent’s management team have done a fantastic job in building Logent into the leading independent contract logistics company in Sweden and Norway. They have built a strong foundation for the future, and Logent’s growth is now ready to take off, as evident by the strong sales momentum. We believe Stirling Square Capital Partners will be an excellent partner to support their exciting journey going forward. We at Adelis are very proud to have been part of Logent’s transformation into a true industry leader”, says Joel Russ and Jan Åkesson of Adelis.

Mats Jönsson, Chairman of Logent says: “It has been an honor to work with such a great team at Logent. Great investments in building a foundation and culture have led to strong results for our customers, employees and owners.”

”Logent’s management team is proud of the development that the company has achieved together with Adelis and our Board over the past several years. The close cooperation has been vital for the success of the strategic transformation. I’m now looking forward to Logent’s next chapter together with Stirling Square Capital Partners and our continued positive development”, says Mats Steen, CEO of Logent.

Adelis was advised by Nordea, Vinge and Alvarez & Marsal.

The parties have agreed not to disclose the purchase price. The transaction is subject to customary regulatory approvals.

For further information:

Logent: Mats Steen, CEO, +46 70 233 83 02

Adelis Equity Partners: Joel Russ, Partner, +46 73 543 90 68

Adelis Equity Partners: Jan Åkesson, Partner, +46 70 353 11 11

Logent

Logent is an independent contract logistics partner to logistics-intensive companies in Sweden and Norway. Logent has approximately 3,000 employees and operates along the whole logistics value chain within the business areas Warehousing, Transport Management, Customs, Ports, Staffing & Recruitment and Consulting.The company has turnover of SEK 1.3 billion. For more information please visit www.logent.se.

Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 20 platform investments and making more than 50 add-on acquisitions. Adelis now manages €1 billion in capital. For more information please visitwww.adelisequity.com.

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Novacap-backed GTI expands into U.S. with Jetco acquisition

Novacap

Montreal, May 13, 2019 – Novacap, one of Canada’s leading private equity firms, is proud to announce that its portfolio company GTI Transport Solutions Inc. (“GTI”), a leading provider of open-deck, specialized and over-dimensional freight services has completed the acquisition of Jetco, a Houston-based transporter offering flatbed, heavy-haul, intermodal, logistics, and specialized loads in the Texas region and across the United States. This acquisition allows GTI to establish a strong operational platform in the United States, which will provide GTI with the ability to further strengthen and widen its offering to its customers throughout North America.

 

Photo courtesy of GTI Group/Dominic Dulude

The transaction with Jetco follows the acquisition of Precision Specialized Division, a specialized carrier based in Ontario, in February 2019. Through these acquisitions and the brokerage network GTI is currently deploying in the US via GTI USA, GTI is establishing an integrated group focused on specialized transport across North America. With now seven locations in the United States and three in Canada, GTI provides specialized asset-based and non-asset transport solutions to the most demanding clients.

“The team at Jetco is renowned as a market leader in their quality of service and in always prioritizing safety in their transport” says Richard Lafrenière, CEO of GTI. “The strategic strong local presence that Jetco has in Texas will increase GTI’s position in the region and establish a performing North-South corridor with its Canadian operations.”

“This acquisition will also increase GTI’s scale and will deepen our geographic reach,” adds Frédérick Perrault, Senior Partner of Novacap.“ Jetco will complement GTI’s US division with its strong asset base and will serve as our platform for future acquisitions in the US.”

Brian Fielkow, CEO of Jetco, will continue in his current capacity as CEO. Mr. Fielkow adds, “Jetco is glad to join forces with a leader in specialized transport such as GTI and we are looking forward to start working together to bring the company to the next level.”

About GTI

GTI Transport Solutions (“GTI”) specializes in open-deck, heavy haul and over dimensional transportation services while also offering specialty storage, logistics and freight forwarding services. GTI has fully equipped transportation terminals in Quebec and Ontario and 300,000 sq.ft. of specialized warehousing. For further information, visit www.thegtigroup.com

About Jetco

Established in 1976 with one truck, Jetco has become one of the Gulf Coast’s top diversified carriers, serving small businesses to Fortune 500 companies. We currently operate a fleet of more than 100 trucks and 250+ trailers, and because of our diverse fleet, are able to meet all of your LTL and semi-tractor transportation needs including: shipping containers by rail and sea, flatbeds and dry vans. For further information, visit www.jetcodelivery.com/about-us

About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with $2.8 billion of assets under management. Novacap’s unique investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous investee companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class companies. For more information, please visit www.novacap.ca.

Media contact:

Valérie Gonzalo
AGO Communications
514.626.6976
valerie@agocom.ca

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