3i announces sale of Mémora

3i announces sale of Mémora generating proceeds of £117 million

3i Group plc (“3i”), and funds managed by 3i, today announce the sale of Mémora, the leading Iberian funeral services company, to Ontario Teachers’ Pension Plan (“Ontario Teachers’”), Canada’s largest single-profession pension plan. Proceeds to 3i will be £117m. This compares to a valuation of £86m at 31 March 2017.

Mémora was founded in 2001 and is headquartered in Barcelona. It is the leading funeral services player in the Iberian market, with a total of 115 parlours, 24 crematoriums, 13 cemeteries and 91 retail outlets in the Iberian Peninsula. It has a leading position in Barcelona as well as in other regional markets in Spain and Portugal, and a strong foothold across its remaining markets. It offers a range of funeral services such as ceremonies, documentation support and dedicated family consultants.

3i invested in Mémora in 2008. Since then, the company has expanded through both acquisitions and organic growth. In 2011, Mémora increased its shareholding in Serveis Funeraris de Barcelona to 85%, thereby consolidating its leadership position in the region. In addition, multiple acquisitions have been completed across Spain and Portugal, including Agnus Dei in 2015. Early on, 3i supported the implementation of a comprehensive Corporate Governance programme, focused on developing the overall strategy. 3i also introduced Juan Jesús Domingo as CEO and Richard Golding, initially as Non-Executive Director and then as Chairman, to the Board.

Pablo Echart, Director at 3i Spain, commented:

“During our investment period, Mémora has cemented its leading market position in the provision of funeral services in Spain and Portugal. With 3i’s support, Mémora’s management team has built a differentiated robust business model to capture the growth potential in this market. I would like to thank CEO Juan Jesús Domingo and his team for their commitment, and I wish them well in the future”.

Juan Jesús Domingo, CEO of Mémora, added:

“3i has been an extremely supportive partner to Mémora. It has helped us to develop our commercial platform, including the design and launch of the Electium service, and to improve our customer-centric, high quality delivery model. We look forward to working with our new investor to further accelerate Mémora‘s growth.”

Jo Taylor, Senior Managing Director, International, of Ontario Teachers’, commented:

“Mémora presents a unique opportunity to invest in a sector we have extensive experience in and fits our investment mandate perfectly. By partnering with the market leader, we will build on Mémora’s strong business foundations, and grow its geographical footprint, while supporting the delivery of a best in class customer relations model. We look forward to working with management and the broader team on this exciting new chapter.”

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AUCTUS and PharmaLex acquire US Add-Ons

Auctus

 

PharmaLex Group strengthens the US presence with acquisition of Safis Solutions, The Degge Group, Ltd. and Complya Consulting Group.
The mergers demonstrate PharmaLex’s commitment to the US market and complements its existing EU medical device expertise.
Munich/Frankfurt: As of June 2017, the PharmaLex Group, a leading specialist provider of development consulting and scientific affairs, regulatory affairs and pharmacovigilance and a portfolio company of the funds advised by AUCTUS, has completed the formal acquisitions of Safis Solutions, The Degge Group, Ltd. and Complya Consulting Group.

 

Safis Solutions is headquartered in Indianapolis, IN, USA. Founded in 2002, the company specializes in regulatory affairs, having a particular strength in medical devices. “The provision of this additional regulatory experience will help support making us a partner of choice for global medical device and combination product projects”, explained Dr. Thomas Dobmeyer, CEO PharmaLex.
The Degge Group’s focuses on pharmacoepidemiology and pharmacovigilance services and was founded in 1988 by Judith K. Jones, MD, PhD, FISPE. In the present era of large-scale global investigations and safety issues. The Degge Group enhances the PharmaLex Group’s offerings with its pharmacoepidemiology expertise and its specialized staff. “The addition of The Degge Group further establishes our intentions to build our US presence following our recent acquisition of Safis Solutions” explained Dr. Tilo Netzer, CEO PharmaLex.
Complya was founded in 2007 by Jonathan Morse and is based in Boston, MA, USA. Their main area of expertise is US FDA GXP Quality Assurance services. The merger enables PharmaLex to build on its existing US FDA Quality and Compliance expertise. “By joining the PharmaLex Group, Complya is now even better positioned to serve clients in new markets and locations, and to provide valuable new services to our existing clients in Boston and internationally” said Jonathan Morse, CEO, Complya Consulting.
The acquisitions strengthen the US footprint of PharmaLex and is the basis to build the new business unit quality & compliance services as well as enables PharmaLex to even better serve its client base globally. The PharmaLex Group now has 100 employees with in total five offices in the US and 25 offices in 12 countries with over 620 employees and more than 650 satisfied clients worldwide.
“Leveraging on the three US acquisitions PharmaLex has now become a truly global player well positioned to serve global customers,” explains Dr. Nicolas Himmelmann, partner at AUCTUS.
The transactions were led by Dr. Nicolas Himmelmann, Benjamin Seifert and Peer Weder.

 


PharmaLex

PharmaLex combines local expertise with global reach in the area of development consulting and scientific services, regulatory affairs and pharmacovigilance. A proven track record of success in outsourcing programs, more than 25,000 successfully completed projects for over 650 clients worldwide, as well as extensive experience in all therapeutic areas and product groups, including advanced therapy medicinal products and biopharmaceuticals, medical and borderline products and alternative therapeutic approaches.

Contact:
Ms. Eva Keck
Director Marketing, PharmaLexGmbH
eva.keck@pharmalex.com
+49 621 18 15 38 158
Harrlachweg 6; 68163 Mannheim, Germany


AUCTUS Capital Partners AG
With more than 100 transactions since 2001, AUCTUS is the leading private equity firm for the German-speaking SME sector (“Mittelstand“). For its performance, AUCTUS has repeatedly received awards as the best German private equity fund. The AUCTUS team consists of 14 experienced private equity experts and supervises 18 platform enterprises from various industries. AUCTUS seeks majority interests of companies in the context of buy-and-build strategies, succession and corporate spin-offs and provides growth capital to enterprises. The latin word “AUCTUS” translates the entrepreneurial mind-set of focusing on “sustainable growth”. Together with the management teams, AUCTUS strives to increase the value of the portfolio companies by sales and earnings growth. With assets under management of more than EUR 500m, AUCTUS builds on a loyal investor base of renowned financial institutions, successful entrepreneurs and family offices.
Contact:
AUCTUS Capital Partners AG
T +49 (0) 89 15 90 700-25
Email: publicrelations@auctus.com
www.auctus.com

 

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Bregal Unternehmerkapital to acquire NRW Building Technology

Bregal unternehmerkapital

Bregal Unternehmerkapital to acquire NRW Building Technology

Munich / Borken – Funds advised by Bregal Unternehmerkapital (“Bregal Unternehmerkapital”) are to acquire a majority stake in NRW Building Technology Holding. The business group based in the North Rhine-Westphalian city of Borken is a provider of technical services for buildings. The stake is sold by the Swiss investment group Ufenau Capital Partners. Both parties have agreed not to disclose the sum and further details of the transaction. Bregal Unternehmerkapital specialises in supporting mid-sized companies and intends to chart the course for further growth of NRW Building Technology by continuing and accelerating the successful “buy-&-build” strategy. The market sector in which the company operates also offers tremendous potential for organic growth.

NRW Building Technology is a leading full-service provider of technical building services. Its range of capabilities extends from heating, ventilation, air-conditioning and plumbing equipment to measuring and control technology. The group comprises eight companies – including its core business Rehms, a company with a long tradition of quality and service excellence. NRW Building Technology employs about 600 people and generates an annual turnover of €110 million. In recent years, the group has grown tremendously thanks to the decades-long entrepreneurial family tradition of the Rehms family. Under the leadership of Heinz-Josef Rehms, who will continue to be a co-investor in the business, NRW Building Technology has generated significant growth – fuelled by both organic gains and strategic acquisitions. The group focuses strongly on reliability, innovation and quality. The company has benefitted from growth trends in the areas of renovation and remodelling, senior-friendly design, smart building technologies and green building.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital is part of a family-owned business that has been built up over generations. Its investment activity is based on long-term commitment and independent of developments in the financial markets. Bregal Unternehmerkapital identifies companies, with strong management teams, that are regarded as market leaders or “hidden champions” in their particular segment. Flexible financing and transaction structures enable it to acquire both minority and majority stakes. In doing so, Bregal Unternehmerkapital is also able to handle complex industry spin-offs, management buy-outs and succession situations in a sensitive, non-dogmatic manner. Bregal Unternehmerkapital aims to help companies to achieve a sustained improvement in sales and profitability, and provides them with capital, proven financial expertise and access to a broad network of entrepreneurs and industry experts.
Further information: www.bregal.de/en

Press contact

IRA WÜLFING KOMMUNIKATION GmbH
Dr. Reinhard Saller
Ohmstraße 1, D-80802 München
T. +49 89 2000 30-30
Mail bregal@wuelfing-kommunikation.de
www.wuelfing-kommunikation.de

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The European Commission has approved the combination of Intrum Justitia and Lindorff

On June 12, 2017 the European Commission approved the combination of Intrum Justitia and Lindorff. The Commission’s decision is conditional upon the divestment of Lindorff’s business in Denmark, Estonia, Finland and Sweden as well as Intrum Justitia’s business in Norway (see press release dated May 18, 2017 for more information).

The combined company will, through its scale and diversification, be ideally positioned to capture the strong market growth in the Credit Management Services  (CMS) industry. By joining forces, both local and global clients will benefit from a strong pan-European platform, enhanced service offering, innovative solutions and best in class compliance.

“I am very pleased that the combination of these two strong companies has now been approved and that we are able to close the transaction as planned. The combined business has the potential to deliver significant value to clients, shareholders and society by creating a very well-positioned and respected player in our industry both in terms of skill and geographic spread,” says Lars Lundquist, Chairman of the Board in Intrum Justitia.

“This is the day that we have been waiting for. These two companies are a great fit and will become a leading force in shaping the future of credit management services. Nordic Capital looks forward to continuing to support the combined business as a listed company and sees strong potential for further value creation,” says Kristoffer Melinder, Managing Partner, NC Advisory AB, advisor to the Nordic Capital Funds.

“I am dedicated to the success of this combination and I am of course thrilled that we now have the necessary approval from the European Commission. Realizing the full potential of the combined company will be a team effort which I am proud to lead once the transaction is closed”, says Mikael Ericson, CEO & President of Intrum Justitia.

On June 9, 2017, the Board of Directors of Intrum Justitia AB announced the decision that Mikael Ericson will be the CEO and President of the combined company once the transaction is completed. The decision was made in agreement with the proposed new Board members nominated by the Nomination Committee on June 7, 2017.  Per E. Larsson, currently Chairman of Lindorff has been nominated as new Chairman of the combined company. Per is the former CEO of OMX, Dubai International Financial Exchange and Borse Dubai, as well as former Chairman of the Board of the Stockholm Stock Exchange and board member of Helsinki Exchanges.

The transaction is expected to close within the next 10 working days. Lindorff will be consolidated into the financial statements of Intrum Justitia from late June  2017.

 

About Lindorff:

Lindorff has been in the business of helping people manage credit for over 100 years. Its headquarters are located in Oslo, Norway, the same city as Eynar Lindorff founded the company back in 1898. Today it has 4,400 people in 12 countries across Europe helping customers back to a life of sustainable spending. Nordic Capital Fund VIII is a majority shareholder in the company which offers services within debt collection and debt purchase as well as payment and invoicing services. In 2016 Lindorff generated EUR 647 million in net revenue (2015 EUR 534 million). For further information, please visit www.lindorff.com

About Intrum Justitia:

Intrum Justitia offers comprehensive services, including purchase of receivables, designed to measurably improve clients’ cash flows and long-term profitability. Founded in 1923, Intrum Justitia has some 4,200 employees in 21 markets. Consolidated revenues amounted to SEK 6.1 billion in 2016. Intrum Justitia AB is listed on Nasdaq Stockholm since 2002. For further information, please visit www.intrum.com

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Lowell GFKL Group acquires leading German third party collections company Tesch Inkasso strengthening its position in a core market.

Permira
Lowell GFKL Group,a European leader in credit receivables management
backed by the Permira Funds and Ontario Teachers’ Pension Plan, today announces that it has entered into an agreement to acquire Tesch Inkasso Group from Avedon Capital Partners and the other existing shareholders. Closing is subject to certain regulatory approvals.
After acquiring Austrian IS Inkasso Service in April, this is Lowell GFKL Group’s second acquisition since its formation in October 2015. This complementary addition strengthens the Group’s position in its core German market. It underlines the Group’s ambition to build a pan-European business with leadership positions in each of its markets.
The transaction further improves diversification in terms of addressed
verticals and business mix.
It will deliver a range of synergies to the enlarged Group.
Tesch Inkasso is a leading German 3PC company with several thousand
unique clients and a volume of receivables serviced of c. €2 billion. Founded in 1985, it was acquired by Avedon Capital Partners in 2012
and has itself acquired Transcom CMS and Mediafinanz in recent years.
Lowell GFKL Group is considering various forms of financing to fund the transaction including loans and debt securities.
Tesch Inkasso has a leading position in the utilities and eCommerce
sectors and has complementary expertise to the Lowell GFKL Group in many other sectors. It shares the Group’s commitment to building long-
term client relationships and respectful, fair engagement with consumers.
The CEO of Tesch Inkasso Thomas Dold, will join the Group having
delivered strong organic growth and an impressive new client win rate over the past few years.

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HAL sells its interest in INVESTING

Hal Holding

HAL sells its interest in INVESTING

HAL entered into an agreement to sell all shares in InVesting B.V. to Arrow Global Group PLC (London Stock Exchange: ARW). InVesting is active in the purchase of bad debt portfolios for its own account and in credit management. Revenues for 2015, including portfolio income, amounted to € 69 million. HAL currently has a 80.6% stake in InVesting B.V. and will increase its stake to 100% in order to sell all shares in InVesting B.V. to Arrow Global.

InVesting’s interest in Infomedics Groep B.V. is not part of the transaction. Infomedics is a company with a leading position with respect to factoring in the health care sector in the Netherlands. Prior to completion of the transaction, this interest will be carved out, after which HAL will hold an indirect stake of 38% in Infomedics.
The completion of the transaction is subject to the approval of the regulatory authorities as well as the finalization of the procedures under the Works Councils Act. The transaction is expected to close during the second quarter of 2016, and will result in an expected net capital gain for HAL of approximately € 35 million.

HAL HOLDING N.V.
April 1, 2016

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