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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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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Platinum Equity Completes Acquisition of Livingston International

Platinum

(Los Angeles, May 2, 2019) – Platinum Equity today announced it has completed the acquisition of North American customs brokerage and trade services firm Livingston International.

Headquartered in Toronto, Ontario, with U.S. headquarters in Chicago, Il, Livingston International is the largest pure-play customs brokerage in North America and boasts the widest presence along America’s northern border. It is also the third-largest customs entry filer in the United States. The company serves as a trusted adviser to more than 30,000 businesses globally, facilitating the completion and transmission of customs documentation and ensuring goods are cleared through international borders seamlessly and expediently.

Livingston is also a leading provider of global trade management services, including trade consulting and customs compliance, helping businesses optimize their use of free trade agreements, mitigate compliance risk and recover duties where possible.

Platinum Equity is a global private equity firm with approximately $13 billion of assets under management and a highly specialized focus on business operations.

“Livingston has served as a critical partner to businesses around the world as they react and adapt to changes in the global trade environment,” said Dan McHugh, Chief Executive Officer, Livingston International. “We are excited about the possibilities that lie ahead and look forward to benefiting from Platinum’s dedicated resources and counsel as we continue to focus on providing best-in-class brokerage, freight forwarding and trade management solutions.”

In addition to its role as a trusted customs broker and adviser, Livingston offers international freight forwarding solutions with special emphasis on North American transportation and global air and sea freight capabilities. Its freight solutions also include value-added services, such as warehousing, barge services and project cargo.

About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $13 billion of assets under management and a portfolio of approximately 40 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund, and Platinum Equity Small Cap Fund, a $1.5 billion buyout fund focused on investment opportunities in the lower middle market. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 23 years Platinum Equity has completed more than 250 acquisitions.

About Livingston International 
Livingston International focuses on customs brokerage and trade compliance, offering international trade consulting, global trade management and freight forwarding. It provides clarity in a world of trade complexity, so businesses can grow further, faster and smarter. Livingston employs approximately 3,200 associates at more than 100 key border points, sea ports, airports and other strategic locations across North America, Europe and Asia. Visit us at www.livingstonintl.com, and on TwitterLinkedIn and Facebook.

Media Contacts

Dan Whelan
Platinum Equity
310-282-9202
dwhelan@platinumequity.com

Dan Ovsey
Director, Public Relations & Marketing Communications
Livingston International
1-800-387-7582 / ext. 13088
dovsey@livingstonintl.com

Investor Relations
and Media Contacts:

Mark Barnhill
Partner
+1 310.228.9514 E-mail Mark

Dan Whelan
Principal
+1 310.282.9202 E-mail Dan

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Edenred Capital Partners leads €25m investment in Fretlink

Edenred

We’re excited to announce our Series B investment in Fretlink, the digital freight forwarder disrupting the European road transport. With this Series B round, Fretlinkplans to build a new standard for the organisation of road freight.

Fretlink connects shippers with a large network of local carriers in Europe and acts as a flow orchestrator by providing matching and pricing recommendations based on transportation data analysis, automating operational processes and enabling European shippers to secure, manage and optimize their transport plans. The aim is to help shippers improve the overall performance of their supply chain.

Founded in 2016 in Paris, Fretlink is a key player in the digitalisation of the European freight logistics. The team already works with some of the largest shippers (400+ regular shippers) in France and Europe while partnering with a large network of transportation companies (5000+ registered carriers). Today, the start-up is pioneering the digitisation of the road freight industry with a new data-driven standard of organization and collaboration.

This funding round will allow Fretlink to finance its international expansion by opening new offices in Germany, Belgium and Poland. A core objective has been to improve the services offering to carriers and the new partners will help create the best platform providing a range of benefits and services that will include the purchase of trucks, equipment and accessories at reduced prices and optimization of fuel cost management.

Paul Guillemin, founder and CEO at Fretlink: “With the launch of our service platform, our priority is to help European regional carriers develop and sustain their business, by giving them access to appropriate and lucrative routes, as well as a range of services under advantageous conditions. Models and practices are undergoing radical transformation and we have always been convinced that it is by collaborating with the sector’s experts that we will manage to initiate change. We are delighted today to see Edenred Capital Partners join the Fretlink adventure to help build the road transport sector of the future.

Norbert Furnion, Managing Partner at Edenred Capital Partners: “We decided to invest in this new funding round because the team assembled by Paul Guillemin and Antoine Le Squeren has already delivered a lot in a short period of time and will further help their clients streamline the supply chain. The review of the operations have highlighted many synergies with Edenred which is already one of the world leader in professional Fleet & Mobility .

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With the support of Eurazeo PME, the Redspher group announces the acquisition of Speed Pack Europe and expands the scope of its activities in Spain

Eurazeo

The Redspher Group, European leader in on-demand transport logistics, announces the acquisition of
Speed Pack Europe, a Spanish company specializing in maximum emergency transport services.
The acquisition of Speed Pack is part of Redspher’s desire to cover all services related to on-demand
transport, from parcels to pallets, for individuals and multinationals in all sectors. It will enable Redspher
to strengthen its presence in Spain and pave the way for new opportunities in Europe for its logistics and
transport solutions.

Founded in 2005, Speed Pack Europe specializes in land transport services of the highest urgency. With
nearly 20 employees and a vast network of partner carriers, the company achieved turnover of around ten
million euros in 2018. The company is based in Barcelona, Catalonia and also has a division in Morocco
importing and exporting to and from all over Europe.

With the support of Eurazeo PME, Redspher continues its internationalization and the implementation of
its digital strategy. Since 2015, the Group has doubled its turnover to nearly €300 million in 2018. Today,
Redspher conducts more than 60% of its business outside France in Europe and the United States.
Philippe Higelin, President of Redspher: “The Redspher Group is particularly proud of this combination
with Speed Pack Europe with which we have been collaborating for some years now. Logistics and transport
are business sectors with very high growth potential in which it is important to invest for the future. We
see this acquisition as an opportunity to strengthen our leadership position. We are establishing standards
of quality and efficiency in accordance with the future expectations of the market. ”
Mario García Cánovas, founder of Speed Pack “Integrating Redspher is the best solution for Speed Pack.
We will share our know-how on very specific transport while benefiting from the group’s technology and
its leading position in Europe. ”

Erwann Le Ligné, Managing Director – Member of the Eurazeo PME Executive Board: “We are very
pleased to be supporting Redspher in this new phase of the company’s development in Spain, a country in
which Eurazeo PME recently committed itself with the acquisition of MCH Private Equity. We are delighted
with the progress made with Redspher and its teams since our arrival in 2015 and the prospects for the
coming years thanks to its international and digital positioning, which makes it a unique player in its
market. ”

About Eurazeo PME
A Subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and
deployed through a CSR (Corporate Social Responsibility) policy.
Eurazeo PME achieved a consolidated turnover of €1.3 billion in 2018 and supportsthe development ofthe following
companies: 2Ride Holding, Dessange International, Léon de Bruxelles, Péters Surgical, Redspher, the MK Direct
Group, Orolia, Smile, In’Tech Medical, Vitaprotech and EFESO Consulting. These companies are solidly established
within their market and driven by experienced management teams.

About Redspher
Redspher is a transport and logistic european group that gathers all its companies within one digital open platform
that simplifies and facilitates on demand delivery. Redspher incorporates Flash Europe International,
Schwerdtfeger, Easy4Pro, Easy2Go, Upela, Roberts.eu, Genius Academy, Easy2Trace and Yoctu. Redspher’s
ambition is to disrupt and shape the on-demand delivery market by integrating its physical and digital dimensions.
Today, Redspher employs more than 700 people in Europe and keeps recruiting to support its growth. Redspher is
a group owned by its employees and supported by the Eurazeo PME investment Fund.
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