KKR Increases Commitment to KKR India Financial Services

KKR

Commitment to bolster financial position and enhance KIFS’ ability to provide financing solutions to companies in India

NEW YORK & MUMBAI–(BUSINESS WIRE)–Jan. 14, 2020– Global investment firm KKR today announced that it has committed to invest an additional US$150 million in KKR India Financial Services (“KIFS” or the “Company”), KKR’s alternative credit business in India. The new capital will bolster KIFS’ position in India’s structured credit space and will enable the Company to continue to partner with Indian borrowers with long-term capital needs.

Joe Bae and Scott Nuttall, Co-Presidents & Co-Chief Operating Officers of KKR, said, “Today is a unique time in the Indian credit markets, with many lenders unable to invest while the demand for alternative credit solutions continues to grow. This commitment demonstrates our ongoing support of the KIFS franchise and its future prospects. Moreover, it solidifies KIFS’ financial position, allows KIFS to be proactive in a dislocated market, and reflects our confidence in KIFS and its mission to finance India’s homegrown champions.”

KIFS provides Indian businesses with financing solutions, as well as alternative asset management and capital market strategies, and is supported by a deep local presence and KKR’s international investment expertise. KIFS has deployed more than US$5 billion of Indian credit investments over the past decade across more than 150 deals. The Company seeks to be an integral part of India’s financial system and to maintain long-term relationships with banks and mutual funds in India.

Sanjay Nayar, CEO of KKR India & CEO of KIFS, commented, “Private lending in India is more important than ever. India has been an important part of KKR’s global growth strategy in Asia, and this investment reinforces KKR’s commitment to the region and provides KIFS with additional resources to enable the continued success of its business.”

KKR will fund its commitment to KIFS through the Firm’s balance sheet. The proceeds of KKR’s investment will be used for general corporate purposes. KKR is the majority stockholder of KIFS, and will continue to coordinate with KIFS’ existing investors to drive the Company’s results. KIFS currently has a CRISIL credit rating of “AA” (Stable) and is regulated by the Reserve Bank of India as a non-bank finance company.

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 KKR India Financial Services

KKR India Financial Services (“KIFS”) is KKR’s alternative credit business in India that provides financing to companies. As of January 10, 2019, KIFS has executed over 150 deals in India worth more than US$5 billion.

Source: KKR & Co. Inc.

Media:

KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

AdFactors (for KKR India)
George Smith Alexander
+91 98213 56867
George.Smith@adfactorspr.com

KKR Americas
Kristi Huller & Cara Major
+1 212 750-8300
Media@kkr.com

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IK Investment Partners acquires Acture Groep

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IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire a majority stake in Acture Groep (“Acture” or “the Company”) from the Company’s founders. Financial terms of the transaction are not disclosed.

Acture Groep is a unique collective of innovative businesses providing specialised outsourced services to Dutch corporates and temporary staffing agencies to manage cases of illness or disability in their workforces. The Company was founded by current CEO, Maudie Derks, and two other co-founders in 2008 with the purpose of reducing absenteeism and employer costs amidst the complex and evolving Dutch social security system.

Through an organic and inorganic diversification strategy, the leadership team have sought high quality brands to augment their offering, which now encompasses health assessments, administration and reintegration services and independent insurance advice. IK will acquire its stake in the business from the founders, with Maudie Derks remaining as CEO and reinvesting alongside the Fund.

Maudie Derks, CEO of Acture Groep, commented: “For over a decade, Acture Groep has established itself as a leader in Dutch social security services and is now the largest private social security provider in The Netherlands. As we enter a period of accelerated growth, we are delighted to partner with IK Investment Partners whose combined experience in the healthcare and tech-enabled business services sectors will be an asset to us as we grow to the next stage. We look forward to working with them as we develop our position and international offering.”

Sander van Vreumingen, Partner at IK and advisor to the IK Small Cap II Fund, commented: “Acture Groep is an impressive collection of products and brands with a track record of success in supporting Dutch employers with the complex task of managing compliance and social security legislation. We believe that the Company and its entrepreneurial leadership team is well-positioned for future growth and look forward to supporting Acture Groep as it embarks on the next phase of its strategy.”

The transaction represents the ninth investment made by the IK Small Cap II Fund.

For further questions, please contact:

IK Investment Partners
Sander van Vreumingen, Partner
Phone: +31 208 909210

Acture Groep
David Gribnau, Gribnau Comunicatie
Phone: +31 35 533 7226

About IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 130 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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CVC Credit Partners becomes sole lender to Horizon Capital’s Sabio

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The refinancing of the existing debt facility allows CVC Credit Partners to support Sabio in its next stage of growth

CVC Credit Partners is pleased to announce that it has provided a unitranche loan and a dedicated acquisition facility to Sabio, a leading customer experience solutions provider and managed services business, backed by Horizon Capital.

Founded in 1998 and headquartered in the UK, Sabio is a global provider of customer engagement technology and managed services, to blue chip enterprise clients. Sabio helps brands optimise contact centre operational performance and improve the customer experience, structures and strategies. The business operates from 11 offices and employs just over 500 people. Sabio Group is backed by Horizon Capital who invested in 2016 and have supported the business’s tripling in size over the past three years.

Simon Hitchcock, Managing Partner at Horizon, commented: “The refinancing in partnership with CVC Credit means that Sabio can continue its successful organic growth, underpinned by an experienced and supportive lender. Securing this significant new committed acquisition facility means we are able to accelerate the buy and build strategy and in the coming months we expect to complete a number of acquisitions from a strong pan European pipeline.”

Jonathan Gale, CEO of Sabio Group said: “With Horizon and CVC backing the business, Sabio is ideally positioned to continue our growth strategy, building a strong footprint in primary European markets and adding technology and skills to our portfolio. This is an exciting move for Sabio and enables our ongoing strategy to bring the very latest in AI powered, self-service and channel agnostic customer engagement solutions to our fantastic, growing, client base.”

Chris Fowler, Managing Director in CVC Credit Partners’ European Private Debt business, added: “Sabio is a leading technology provider, which operates in a large and growing market driven by increasing investment in digital automation and analytics. Its loyal client base yields high renewal rates and reliable recurring revenues. With Horizon’s backing, Sabio has grown strongly in recent years and we are now pleased to support the business on its next stage of development.”

Van Vulpen teams up with Mentha Capital

Mentha Capital

Mentha Capital has acquired a majority interest in Van Vulpen, a leading and innovative contractor in the installation and adaptation of various types of networks used for the transport and distribution of water, electricity, data and gas. The transaction has been approved by the ACM (the Dutch competition authority). In collaboration with Mentha, Van Vulpen strives to continue its existing high levels of quality and achieve further growth and innovation in the installation of underground infrastructure networks.

In the past 20 years, Van Vulpen has become a leading player in the construction of underground infrastructure networks. In addition, Van Vulpen has become more and more specialized in carrying out Horizontal Directional Drilling (HDD), which allows it to lay underground pipes and cables over large distances with a minimal impact on the environment.

This year, Van Vulpen commissioned the world’s first electric drilling rig in the maxi segment. The first drillings have now been successfully completed, with substantially lower emissions and greatly reduced environmental nuisance in terms of noise as compared to conventional techniques. In 2019 Van Vulpen expects to achieve a turnover of approximately € 85 million; and including its flexible base of subcontractors and self-employed, it employs around 450 workers.

Managing Director Arjan de Nijs will continue to be actively involved with the company in the coming years, both as the person retaining ultimate responsibility and as co-shareholder.

Mentha Capital invests in established, profitable companies with clear potential for expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participations, active in various end-markets.

Arjan de Nijs, Van Vulpen: “I am convinced that this step takes Van Vulpen further in the direction in which it has embarked. In the field of innovation, controlled growth, but also corporate culture, Mentha and Van Vulpen understand each other very well, which gives me confidence in this partnership going forward.”

Gijs Botman, Mentha Capital: “We are very impressed with what Van Vulpen has managed to achieve as a company in the last 20 years. Moreover, we are convinced that Mentha and Van Vulpen are closely aligned in terms of their character and DNA, and we share the ambition and enthusiasm to continue to build this magnificent company.”

 

For more information:

Information on Van Vulpen: https://vanvulpen.eu/ Information on Mentha Capital: www.menthacapital.com  For any other questions, please contact Mark van Ingen of Mentha Capital on +31 (0) 20 636 31 40 or info@menthacapital.com

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EQT brings in Melker Schörling AB as minority partner in Anticimex

eqt

  • EQT brings in Melker Schörling AB, a large Swedish institutional investment company, in a minority stake sale in Anticimex
  • With the partnership, Anticimex diversifies the shareholder base further and adds another long-term committed anchor investor
  • EQT remains controlling owner and continues to support Anticimex in becoming the global leader in preventive pest control

The EQT VI fund (“EQT VI”) today announced the decision to bring in Melker Schörling AB (“MSAB”) as an indirect minority investor in Anticimex (“Anticimex” or “the Company”), in a transaction valuing the Company at approximately EUR 3.6 billion (similar stake size as acquired by GIC in November and at the same valuation).

Founded in 1934 and headquartered in Stockholm, Sweden, Anticimex is a leading global specialist within pest control, operating in 154 branches in 18 countries across Europe, Asia-Pacific and the US. Since acquired by EQT VI in 2012, Anticimex has transformed from a Nordic services conglomerate into a global player and a market leader in digital pest control. During the ownership period, EQT has backed Anticimex’ organic growth trajectory and ambitious buy-and-build strategy, completing over 200 add-on acquisitions worldwide. EQT has also supported the launch of the Company’s digital and environmentally friendly pest control monitoring system, “Anticimex SMART”.

By bringing in MSAB as a minority investor, EQT aims to further diversify the Company’s shareholder base and add another long-term committed anchor investor and partner.

Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI, commented: “EQT is pleased to welcome MSAB as a new investor. Bringing in investors like MSAB is part of EQT’s continuous effort to diversify Anticimex’ shareholder base and strengthen the Company with value-adding partners. Anticimex continues its journey towards becoming the global leader in preventive pest control with further international expansion and investments in the next generation of digital pest control technologies.”

Jarl Dahlfors, CEO of Anticimex, added: “MSAB is a well-respected investor which further strengthens our foundation and shareholder base. We look forward to continue our growth journey with all our strong and value-added shareholders.”

During EQT’s ownership period, Anticimex has almost quadrupled its revenues and increased operating earnings by six times.

The transaction is expected to be completed during Q1 2020.

Contacts
Per Franzén, Partner at EQT Partners and Investment Advisor to EQT VI, +46 8 506 55 300
EQT Press Office, +46 8 506 55 334

About EQT
EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 20 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

Follow EQT on Twitter and LinkedIn

About Anticimex

Anticimex is a leading global specialist in preventive pest control with operations in 18 countries across Europe, Asia-Pacific and the US with headquarters in Stockholm, Sweden. With its approximately 6,000 employees, Anticimex serves around 3 million customers across the globe and offers a broad range of preventive pest control solutions, including the digital solution Anticimex SMART and pest insurance.

More info: www.anticimex.com

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Management to acquire Eleda Group

Triton

Stockholm (Sweden), 16 December 2019 – Funds advised by Triton (Triton) have signed an agreement to sell Eleda Infra Services Group (Eleda) to a consortium made up by the group’s management team. Terms of the transaction are not disclosed.

Eleda is an infrastructure services group formed by Triton through the consolidation of the regional companies Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggningstjänster focusing on civil engineering, excavation and other infrastructure services. Headquartered in Stockholm, the group has around 800 employees and achieved pro forma sales of around SEK 3.0 billion at the end of September 2019.

“We would like to thank the management team, the employees and all other stakeholders for their contributions to the successful development of Eleda during Triton’s ownership. We view this as an appropriate time for management to take over as full owners and to continue developing the company further” says Peder Prahl”, Director of the General Partner to the Triton funds.

“Through the creation of Eleda, our Nordic Triton Smaller Mid-Cap (TSM) team and the company’s board have in a joint effort with management succeeded in transforming four companies leading in their respective regional geographies into a national platform with a corporate culture marked by a strong entrepreneurial spirit and coherent processes. We are happy that the management team, who have remained significant shareholders throughout TSM’s ownership, are ready to continue this successful journey.” says Andi Klein, Investment Advisory Professional and responsible for the Triton Smaller Mid-Cap Fund.

”During Triton’s ownership period, Eleda has had the opportunity to grow into one of the leading companies of our market. We today have a well-functioning platform which offers high-quality infrastructure services. With financing and acquiring the company ourselves, we now look forward to a continued growth together with our employees”, says Johan Halvardsson and Peter Condrup, representatives of the management consortium.

About Eleda Group

Eleda Group is an expansive group focusing on civil engineering, contract and other infrastructure services. The Group operates through regional companies across southern and western Sweden. These companies all have similar business models and operational focus and currently include Akeab, KEWAB, Mark & Energibyggarna and Salboheds Bygg & Anläggninstjänster. Eleda Group’s corporate culture is marked by a strong entrepreneurial spirit, and the companies work independently in complementary geographical areas with the goal of being a leading player in their respective regional markets. Eleda Group, which has its headquarters in Stockholm, has around 800 employees and sales of approximately SEK 3.0 billion in the 12 months to September 2019. Eleda Group is owned by Triton and a broad group of key individuals in the Group.

For further information: https://www.eleda.se/en

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 42 companies currently in Triton’s portfolio have combined sales of around €16,7 billion and around 80,800 employees.

Press Contacts

Triton
Fredrik Hazén

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The Carlyle Group Serves as Administrative Agent and Joint Lead Arranger on Senior Secured Credit Facilities to Support Abry Partners’ Acquisition of Portfolio Holding Inc.

Carlyle

NEW YORK  Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it served as administrative agent and joint lead arranger for senior secured credit facilities to support private equity firm Abry Partners’ acquisition of Portfolio Holding Inc. Carlyle’s middle market lending platform, Carlyle Direct Lending, anchored the financing and will agent the debt facilities.

Carlyle Direct Lending is part of The Carlyle Group’s Global Credit platform.  As Carlyle’s exclusive middle market lending platform, Carlyle Direct Lending is focused on making investments across the capital structure, primarily in private equity sponsor-backed companies, including senior secured loans, unitranche loans and junior debt. The team is comprised of more than 30 dedicated investment professionals in New York, Los Angeles, Chicago and Boston.

Inoki Suarez, Managing Director at The Carlyle Group, said, “We are pleased to lead this financing in support of Abry’s acquisition of Portfolio Holding.  We value our long-standing relationship with Abry and appreciate their continued trust and support in our team.  As a key financing partner, we look forward to continuing to support them as they seek to grow Portfolio Holding.”

With headquarters in Lake Forest, CA, Portfolio Holding Inc. is a provider of finance and insurance products and services to automotive dealers throughout the country, including vehicle service contracts, GAP insurance and ancillary products.

* * * * *

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $222 billion of assets under management as of September 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

Global Credit is a global, multi-product, markets-focused investment platform with approximately $48 billion of assets under management. More than 125 investment professionals manage 63 active funds that seek to provide investors an edge in pursuing opportunities to create value across various types of credit, public equities and alternative instruments.

Media Contacts
Christa Zipf
Phone: +1-212-813-4578
Christa.Zipf@carlyle.com

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Gladstone Investment Corporation Exits its Investment in Nth Degree

Gladstone

MCLEAN, Va., Dec. 11, 2019 — Gladstone Investment Corporation (Nasdaq: GAIN) (“Gladstone Investment”) announced today the sale of its portfolio company Nth Degree, Inc. (“Nth Degree”) to MSouth Equity Partners, an Atlanta-based private equity firm. As a result of this transaction, Gladstone Investment realized a significant capital gain on its equity investment and retained a minority equity investment in Nth Degree. Gladstone Investment acquired Nth Degree in partnership with Capitala Finance Corp. (Nasdaq: CPTA) and Nth Degree’s management team in 2015.

Nth Degree, headquartered in Duluth, GA, is a market-leading provider of exhibit management services and event services to clients across the globe.

“Gladstone Investment has enjoyed a strong partnership with Nth Degree’s management team over the last several years. We are proud to have supported the business through a period of rapid growth, both organically and through acquisition,” said Kyle Largent, Senior Managing Director of Gladstone Investment.  “The entire Nth Degree management team has achieved outstanding results in growing the business and we wish them continued success.”

“With the sale of Nth Degree and from inception in 2005, Gladstone Investment has exited 20 of its management supported buy-outs, generating significant net realized gains on these investments in the aggregate,” said David Dullum, President of Gladstone Investment. “Our strategy as a buyout fund, realizing gains on equity, while also generating strong current income during the investment period from debt investments alongside our equity investments, provides meaningful value to shareholders through stock appreciation and dividend growth.”

Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market private businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Additional information can be found at www.gladstoneinvestment.com.

For Investor Relations inquiries related to any of the monthly distribution-paying Gladstone family of funds, please visit www.gladstone.com.

Forward-looking Statements:

The statements in this press release regarding the longer-term prospects of Gladstone Investment and Nth Degree and its management team, and the ability of Gladstone Investment and Nth Degree to be successful in the future are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on Gladstone Investment’s current beliefs that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in Gladstone Investment’s filings with the Securities and Exchange Commission. Gladstone Investment undertakes no obligation to update or revise these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

SOURCE:  Gladstone Investment Corporation

For further information: Gladstone Investment Corporation, 703-287-5810

Gladstone Investment Corporation logo

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Ardian sells CCC to Telus International

Ardian

Geographical expansion, an increasing customer base, and expansion of Non-Voice Services, position CCC as a leading European platform for business process outsourcing services

Berlin/Vienna/Frankfurt, December 5, 2019 – Ardian, a world-leading independent investment house, is selling Competence Call Center Group (“CCC”), one of the leading Business Process Outsourcing (“BPO”) service providers in Europe, to TELUS International, a subsidiary of TELUS Corporation. The closing of the transaction is subject to antitrust approval.

Founded in Vienna in 1998, CCC is today headquartered in Berlin. With more than 8,500 employees, the company offers high-quality BPO solutions in 33 languages. CCC’s range of services includes moderating content, for example on social media platforms, up/cross selling, complaint management and technical support. The Group operates from 11 countries across the DACH region, France, Spain, Eastern Europe, and, Turkey.
Ardian invested in CCC between 2009 and 2013. Since reinvesting in the company in 2017, CCC has increased the number of employees by more than 3,000 to 8,500 and opened in four new locations. The renewed support of Ardian also enabled CCC to further develop as a leader in the German-speaking region and strengthen its European platform for BPO services through its expansion strategy.

The company has expanded its business with new and existing customers, shifting the range of services towards more complex BPO services, which now account for two-thirds of sales, and new geographic markets. With its services, CCC supports fast-growing companies in interactive media services, an example being social media platforms, internet and direct marketing, as well as consumer services and retail.
Christian Legat, CEO of CCC, said: “We would like to thank the Ardian team for their excellent cooperation over the past few years, which has made CCC one of the leading independent European platforms for BPO services. CCC is well-positioned to continue this success story under our new owner TELUS International.”

Dirk Wittneben, Managing Director at Ardian, said: “We are pleased that we have been able to support CCC for a second time in the continuation of its success story.  We have been able to contribute to the company’s development towards more complex non-voice services and to expanding the customer base to include leading industrial and innovative tech companies.”
Marc Abadir, Managing Director at Ardian, added: “We believe the company is in an excellent position to continue to expand and gain market share within the dynamic BPO services market. We wish the company and its employees every success in the years ahead and thank CCC’s outstanding management team once again excellent collaboration.”

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 more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT CCC

CCC provides Customer Care and BPO solutions at the highest level. The company draws on 21 years of experience in monitoring and moderating content, such as on social media platforms, up/cross selling, complaint management and technical support. With its solutions, the company covers various communication channels ranging from telephone and e-mail to chat and social media. Since 1998, CCC has been renowned for providing high-quality, internationally certified and excellent BPO services in 33 languages for global top brands in the European market from several industries. During this time, it has realized international growth and demonstrated continuous and strong commitment for the BPO industry. In total, more than 8,500 employees provide customers with innovative and international excellent service on all communications levels.

COMPANIES AND PERSONS INVOLVED IN THE TRANSACTION

Ardian Team: Dirk Wittneben, Marc Abadir, Yannic Metzger, Nicolas Münzer
Financial: Deloitte (Egon Sachsalber, Tanya Fehr)
Commercial: McKinsey (Dr. Julian Raabe, Dr. Tobias Eichner)
Legal: Latham & Watkins (Burc Hesse, Dr. Sebastian Pauls), Milbank (Dr. Michael Bernhardt)
Tax: EY (Niclas Hahn)
M&A Advisory: William Blair (Dr. Philipp Mohr)

PRESS CONTACTS

ARDIAN
Headland
Carl Leijonhufvud
CLeijonhufvud@headlandconsultancy.com
D: +44 (0)20 3805 4827
M: +44 (0)7901 853

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Andera Partners sponsors the management-led buyout of Auxiga Group from IK Investment Partners to foster international expansion

ik-investment-partners

Alongside key executives, Winch Capital 4, an investment fund managed by Andera Partners, has reached an agreement to take over Auxiga Group from the IK Small Cap I Fund, advised by IK Investment Partners. The transaction will allow the management team to increase its ownership share. Auxiga Group is the undisputed leader of inventory pledge and floor check services in France and in Belgium.

Auxiga Group was founded in Belgium in 1919 and has been active in France since 1975. The group provides inventory pledge services to financial institutions and corporate borrowers wishing to leverage part of their inventory to gain access to a wider array of financing solutions. The group is the undisputed market leader in France and Belgium and operates through three subsidiaries: Auxiga, Sofigarant and Eurogage, the latter of which was acquired in January 2019. Auxiga Group recently began its international expansion by launching a subsidiary in the Netherlands where it aims to export its asset inspection and floor check expertise to support its international clients, typically captive automotive manufacturer banks.

Auxiga Group was acquired by the IK Small Cap I Fund in 2015. With IK’s active support, the group successfully completed the consolidation of the French market and initiated its international expansion. This next step with Andera Partners marks the beginning of a new expansion phase for the Group with the aim of:

  • Further spreading the use of inventory pledge solutions in France;
  • Widening the group’s expertise to include complementary services for financial institutions;
  • Supporting the Auxiga’s expansion abroad with the aim of building an international player capable of handling major projects on a European level;
  • Achieving this international expansion through targeted build-up acquisitions, some of which have already been identified.

The management team, led by CEO Arben Bora, has taken this opportunity to increase its ownership of the company.

A unitranche debt facility will be provided by Barings to complete the financing of the acquisition.

Closing is expected by the end of 2019.

Auxiga Group is the 7th investment of Winch Capital 4, Andera Partners’ investment fund dedicated to growing mid-market SMEs.

Pierre Gallix and Arnaud Bosc, Partners at IK Investment Partners and Advisors to the IK Small Cap I Fund: “We are proud of the journey accomplished with the management team. Thanks to the Eurogage acquisition, Auxiga Group is now the clear leader in inventory pledge in France and is ready to embark upon the next chapter of growth. We wish Andera and the management team all the best to realise their ambitions.”

Arben Bora, CEO of Auxiga Group: “We would like to take this opportunity to thank IK for all of their support the past years which has enabled Auxiga to strengthen its market position. It is with great pleasure that we take this step forward as we welcome Andera Partners at our side. We are now stepping into a new expansion phase which should lead us to new frontiers, both by building a presence in new geographies and by broadening our expertise.”

François-Xavier Mauron and Laurent Tourtois, Partners at Andera Partners: “We are delighted to back Arben Bora and his team as the company enters into a new phase of ambitious growth. Auxiga Group possesses all the qualities we look for in an investment opportunity: an ambitious and outstanding management team willing to engage in an international change of scale project, a company holding a rare expertise strongly valued by its clients, and a resilient underlying market yet with considerable growth potential.”

PARTICIPANTS
Andera Partners (Winch Capital): François-Xavier Mauron, Laurent Tourtois, Arthur Milliard, Etienne Rossignol
Commercial due-diligence: Accenture Strategy (Sébastien Amichi, Ravi-François Thillier, Romain Le Guen, Antoine Ringeard)
Financial due-diligence: Oderis Consulting (Aurélien Vion, Lan Chau, Clément Tastet)
Legal Advisor and legal & fiscal due-diligence: VOLT Associés (Emmanuel Vergnaud, Stéphane Letranchant, François-Joseph Brix, Lucille Pothet, Guilhem de Courson)
Labour due-diligence: Céline Donat & Associés (Céline Donat)
M&A Advisor: Natixis Partners (Jean-Baptiste Marchand, Benjamin Giner, Louis-Martin Dufay, François Bracchi)

Barings: Alice Foucault, Benjamin Gillet, Pauline Lloret

Auxiga Group: Arben Bora, Sébastien Vincent, Frédéric Trastour
Legal Advisor: STC Partners (Delphine Bariani)

IK Investment Partners: Pierre Gallix, Arnaud Bosc, Caroline Le Hen
M&A Advisor: Ekapartners (Eric Toulemonde, Marc-Aurèle Taverna, Paul Caillaud)
Legal Advisor: Agilys Avocats (Baptiste Bellone, Chloé Journel, Carole Thain-Navarro)
Financial Vendor Assistance: Alvarez & Marsal (Frédéric Steiner, Camille Peyre, Bilal Baou)

PRESS RELATIONS

ANDERA PARTNERS
NICOLAS DELSERT, Head of Communications
+33 1 85 73 52 88 / n.delsert@anderapartners.com

JEAN-PHILIPPE MOCCI
Ulysse Communication
+33 1 81 70 96 33 / jpmocci@ulysse-communication.com

BRUNO ARABIAN
Ulysse Communication
+33 1 81 70 96 30 / barabian@ulysse-communication.com

IK INVESTMENT PARTNERS
PIERRE GALLIX, PARTNER
ARNAUD BOSC, PARTNER
+33 1 44 43 06 60

MIKAELA MUREKIAN, DIRECTOR COMMUNICATIONS & ESG
+44 77 87 573 566 / mikaela.murekian@ikinvest.com

ABOUT ANDERA PARTNERS
Created in 2001 as part of the Edmond de Rothschild Group, Andera Partners is a leader in investments in unlisted companies in France and internationally. It manages nearly €2.3 billion in investments in life sciences (BioDiscovery), growth and buyout capital (Winch Capital in mid-caps and Cabestan Capital in small-caps) and sponsorless mezzanine debt (ActoMezz).

Andera Partners is 100% owned by its teams and places service to entrepreneurs and respect for partners at the heart of its concerns. The company is also a signatory to the United Nations Principles for Responsible Investment (UNPRI), which encourage the adoption of best environmental, social and governance (ESG) practices.

Based in Paris, Andera Partners is an AMF-approved asset management company that employs 67 people, 44 of whom are investment professionals. It is structured as a partnership and managed by a board of 10 partners.

Thanks to the performance of its funds, the diversity of its services and its organisational model, Andera Partners stands apart from other companies in its markets, where it is recognised as a major player. www.anderapartners.com

ABOUT IK INVESTMENT PARTNERS
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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