Category Archives: News

LMtec Digital Solutions Joins Forces with Emixa

Holland Capital

Amsterdam, 18 September 203 –Emixa, the leading SAP/Siemens/Mendix technology partner, is investing in LMtec Digital Solutions, with support from its majority shareholder Holland Capital. With this partnership, Emixa expands its presence into the DACH region and further enhances its product and service offerings, accelerating the digital transformation of its international Industry 4.0 clients.

LMtec Digital Solutions is a leading partner of Siemens Digital Industries Software with offices in Germany and Switzerland, specialized in providing PLM (Product Lifecycle Management) solutions, including maintenance, technical support, and consultancy. This partnership contributes to their vision of playing a significant role in the digital transformation of the manufacturing industry, also known as ‘Industry 4.0’, through technologies such as Siemens, SAP, and Mendix. Furthermore, this collaboration offers its employees opportunities for international development within the wide range of services, technologies, and countries where the group operates.

Growth through buy-and-build

The acquisition of LMtec Digital Solutions is the next step in the buy-and-build strategy, executed with the support of Holland Capital. Including LMtec, Emixa now employs over 520 professionals, focusing on product lifecycle and asset management, IT architecture, low-code applications, system integrations, and process optimization, primarily targeting the manufacturing industry. The group aspires to become the leading player in Western Europe and has now expanded its operations to the DACH region, in addition to the Benelux and the United Kingdom.

Peter-Jan Simons, CEO of Emixa, commented, “LMtec is a strategic addition to our group, bringing high-level expertise in digital transformation to the modern industry. I am very excited about this addition, as together with LMtec, we can now better serve our customers in the DACH, UK, and Benelux regions within the technology triangle of SAP-Siemens-Mendix. Additionally, our consultants will have more international career opportunities. LMtec’s Siemens PLM expertise will boost our Siemens activities in Europe and elevate our partnership with Siemens to a higher level.”

Peter Wassmer, Managing Partner of LMtec Digital Solutions, stated, “Siemens recognizes Emixa as a leading specialist capable of delivering solutions based on SAP/Siemens/Mendix technology. Joining forces with Emixa is the perfect combination to realize our existing vision: to act as a trusted digital coach for our clients in addressing their digital thread for product and production.”

Ewout Prins, Managing Partner of Holland Capital, added, “The acquisition of LMtec is the next significant step in Emixa’s buy-and-build strategy. In addition to the Benelux and the UK, the group is now strongly represented in the DACH region. We are proud that our teams in Düsseldorf and Amsterdam have contributed to this acquisition.”

About LMtec Digital Solutions

LMtec, founded in 2014, provides digital transformation consultancy, architecture, and implementation of PLM solutions, licenses, and IT services across all industrial sectors. With a team of more than 70 experts in Central Europe, its mission is to enable valued customers to innovate and bring better products and services to the market more quickly. They achieve leading innovation through in-depth industry knowledge, PLM best practices, unique processes, and technological skills. LMtec is a Smart Expert Partner of Siemens Digital Industries Software, SAP and Mendix in the DACH region.

About Emixa

Emixa offers its clients innovative, high-quality, full-service solutions in the field of digital transformation, with a special emphasis on the manufacturing industry, also known as ‘Industry 4.0,’ using Siemens (PLM), SAP (ERP), Mendix (Low Code Applications), and other leading technologies. The group operates in the Benelux, the United Kingdom, Ireland, Germany, and Switzerland. The foundation for Emixa was established in 2022 when the companies Appronto, cards PLM Solutions, Dimensys, Magnus, and OnePLM joined forces with the support of Holland Capital.

About Holland Capital

For the past 40 years, Holland Capital has responsibly and successfully invested in more than 180 Dutch SMEs. With a clear investment strategy, they are active in the attractive growth markets of Healthcare, Technology, and Food & Agri. Their experienced and committed investment team understands entrepreneurship. They aim for an open, sustainable, and professional relationship with the management teams of the companies they invest in, with the common goal of achieving growth. Holland Capital is supported by a broad network of successful entrepreneurs in Healthcare, Technology and Food & Agri. Holland Capital has offices in Amsterdam and Düsseldorf. The acquisition of LMtec represents Holland Capital’s first acquisition in Germany.

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Activa Capital sells its stake in Explore Group

Activa Capital

Activa Capital sells its stake in the capital of Explore Group, the leading provider of construction and
commercial project tender information, in favor of Intescia as part of a strategic alliance.
Founded in 1997 by Laurent Nicouleau and Philippe Raison, Explore Group has firmly established itself
as the foremost provider of information regarding tenders in the construction and commercial project
sector in France.

The acquisition of Explore Group will consolidate Intescia’s position with a unique portfolio of solutions
covering construction, real estate, business services, healthcare, and retail, serving over 20,000
customers and 100,000 users in Europe.

This recent transaction comes merely four years after Activa Capital’s initial commitment. During this
period, Explore Group has notably acquired 3 highly complementary companies, enabling the
expansion of its solution portfolio and distribution channels, reinforcing the verticalization of its
offerings, and consolidating its leadership in the real estate and construction sector.
« The alliance between the Intescia and Explore groups represents a unique opportunity to create the
European leader in BtoB business intelligence solutions based on a unique platform of brands and
services. This is the culmination of a project that began 25 years ago, accelerated by Activa Capital’s
support as part of our growth and development dynamic » said Laurent Nicouleau and Philippe Raison
founding directors of Explore.

« We are very proud to have supported the Explore Group during the 2019 primary LBO alongside the
founders and their team. With 3 acquisitions, Explore has achieved remarkable growth, doubling in size
over the period. We will continue to closely monitor this exciting industrial alliance, which is creating
the first European business intelligence platform based on AI. We wish all the best to the teams involved
in this new partnership.» added Christophe Parier and Alexandre Masson, Managing Partners of
Activa Capital.

Participants
Acquirers
Intescia: Yannick Dupuch, Damien Le Berre
Five Arrows : Younes Zemmouri, Victor de Tracy, Morgane Casalta, Lauriane Cadiou
Advisor to the acquirers
M&A: Amala Partners (Jean-Baptiste Marchand)
Transaction Services : Alvarez & Marsal (Frédéric Steiner, Simon Regard)

Lawyers: McDermott Will & Emery (Grégoire Andrieux, Fabrice Piollet)
Sellers
Activa Capital: Alexandre Masson, Christophe Parier, David Quatrepoint, Elliot Thiéblin
Management: Laurent Nicouleau, Philippe Raison
Advisors to the sellers
M&A: Bryan Garnier (Thibaut de Smedt, Stanislas de Gmeline, Jonathan Bohbot, Paul
Wertheimer, Théo Demeusoy)
Transaction Services: Iteraxon (Nicolas Bayle)
Lawyers Activa Capital: Hogan Lovells (Florian Brechon, Stéphane Huten, Shanna Hodara,
Guillaume Denis)
Lawyers founders: Fidal (Jean-François Yerle, Jironi Harivel)

About Explore Group
Explore Group is a leading player in B2B data intelligence with undisputed expertise in real estate and
construction. Building on 25 years of expertise, Explore Group is home to several brands including Explore,
the leading French provider for construction project intelligence, Wanao for public tender management,
Sendao for fully-outsourced tender submission and Codata, the leader in retail and commercial real estate
data. Explore Group operates from offices in France, Belgium and Morocco. www.explore.fr

About d’Activa Capital
Activa Capital is an independent private equity firm, owned by its partners, characterized by a proactive
build-up strategy. It currently manages more than €300 million on behalf of institutional investors by
investing in French SMEs and ETIs with high growth potential and an enterprise value of between €20 and
€100 million. Activa Capital assists them to accelerate their development and international presence. To find
out more about Activa Capital, visit www.activacapital.com

Press Contacts
Alexandre Masson Christophe Parier
Managing Partner Managing Partner
+33 1 43 12 50 12 +33 1 43 12 50 12
alexandre.masson@activacapital.com christophe.parier@activacapital.com

 

 

Categories: News

Gimv has entered into exclusive negotiations with Crédit Mutuel Equity to sell its majority stake in Groupe Claire, a specialist in water network equipment and performance solutions.

GIMV

Topic: Divestment

After guiding the company for more than four years, marked by dynamic organic and external growth, Gimv will sell its majority stake in Groupe Claire to Crédit Mutuel Equity, alongside the management team, in order to further support the development strategy led by its Chairman Damien Verhée.

Groupe Claire is a historical leader in solutions for equipping and improving the performance of water networks, with a presence in France and Germany. Created in 2011 around the Sainte-Lizaigne brand, the group has developed and acquired complementary expertise and today brings together six recognized brands, meeting all the critical needs of water market players. By 2023, it is expected to achieve sales in excess of €80 million, and employs nearly 250 people at 6 sites, including 5 in France and one in Germany.

Since its investment at the end of 2018 as a majority shareholder, Gimv has supported Damien Verhée in further structuring the group, through key recruitments or internal reorganizations, enabling the development of synergies between the group’s entities and accelerating organic growth. The company has also invested significantly in improving and automating its industrial tools and operations, in parallel with an ambitious R&D policy. Two strategic acquisitions were made to round out the group’s offering and skills, and to structure a Smart Products division reaching critical mass. Another acquisition is currently being finalized and should be integrated into the group shortly.

With a presence in 40 countries and 9 areas of expertise, the group aims to be the benchmark partner for private and public water network operators (public utilities and water companies), offering a wide range of products (connections, metering environments) for their network construction and renovation projects, and connected solutions to improve network management and leak detection. In a context of water scarcity linked to climate change, and characterized by peaks of drought, the company activates the synergies necessary to the success of its mission, in the service of the common good and future generations: to promote access to water for all, today and tomorrow.

Under the leadership of Damien Verhée, Groupe Claire aims to pursue its growth in high-performance equipment and network performance improvement solutions, and continue its international expansion.

“I’m proud of the progress made by Groupe Claire with Gimv’s active and virtuous support. This fruitful collaboration has enabled the group to change dimensions, both in terms of organization and pace of development. Together, we were able to accelerate growth in traditional products and reinforce our strategic shift into connected products, even exceeding the objectives we had initially set ourselves with the Gimv team. With the support of a new reference shareholder, Crédit Mutuel Equity, we have acquired additional financial resources to continue supporting our customers and partners in preserving water resources“, explains Damien Verhée, Chairman of Groupe Claire.

“We are delighted to have supported Damien Verhée and his team with an ambitious strategy that has enabled Groupe Claire to further structure itself and almost double in size in just over 4 years. From the outset, we focused together with Damien on strengthening the management teams and changing the organization to develop synergies. With two strategic acquisitions, and a third in the process of being finalized, as well as major investments in R&D, Groupe Claire has been able to develop its range of innovative solutions and structure a connected products division, thus becoming a major player in water network optimization, and one of the few groups capable of offering complete solutions to its customers. These transformations defined at the time of our entry are perfectly in line with the growth projects we wish to develop within our Sustainable Cities investment platform“, concludes Nicolas de Saint Laon, Head of Gimv France.

Completion of the transaction remains subject to the recommendation of Groupe Claire’s employee representative bodies, as well as the authorization of the French Competition Authority (Autorité de la concurrence).

The financial impact of this transaction was already included in the Trading Update of September 5th. Over the entire investment period of this transaction, Gimv realizes a return in excess of the long-term portfolio return target. No further financial details will be disclosed.

 

Read the full document

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Dale Underwriting Partners enters strategic partnership with CVC to support long-term growth

CVC Capital Partners

Dale Underwriting Partners (“Dale”), the trading name for Dale Managing Agency Limited’s Lloyd’s Syndicate 1729, has agreed a strategic partnership with CVC, a leading global private markets manager with €161 billion of assets under management. CVC funds will invest into Dale to provide the capital to replace the current third-party capital providers and support business growth, which will result in CVC funds acquiring a majority stake in the business.

Founded by Duncan Dale in 2014 and operating through Lloyd’s Syndicate 1729, Dale is a specialist provider of insurance and reinsurance lines across six core classes. Dale is a high-quality business which has grown strongly over recent years and today controls more than $500 million of premiums underpinned by its leadership positions in its areas of focus, highly experienced team, prudent underwriting approach together with its entrepreneurial, agile, and performance-driven culture.

This investment will secure a large pool of long-term stable capital to fund Dale’s growth, capitalising on the competitive global position of the Lloyd’s market and the Dale team’s expertise and strong position.

CVC funds have extensive prior experience of investing in and growing regulated financial services and insurance companies globally, including in the Lloyd’s market through investments into Brit Insurance and RiverStone International. CVC funds, who will be making this investment from their Strategic Opportunities Fund, will support Duncan and his team’s vision for the long-term strategic development of the business.

Duncan Dale, founder and Chief Executive of Dale, said, “We are excited to be partnering with CVC to back Dale’s next phase of growth. We have an aligned vision on where we would like to take the business and believe they will be a great partner given their long-term investment horizon and approach to supporting us to create value.”

Quotes

We are excited to be partnering with CVC to back Dale’s next phase of growth

Duncan DaleFounder and Chief Executive of Dale

Martin Iacoponi, Managing Director at CVC, said, “The specialty insurance and Lloyd’s markets are attractive markets for patient capital investors like CVC funds and a focus for our financial services strategy. We have been impressed by Duncan and his team’s approach in building a high-quality player over the last decade. We are very pleased to partner with the Dale team and look forward to supporting the business with CVC funds’ capital and our experience to help them grow and develop further.”

The transaction is subject to customary regulatory approvals and is expected to close in Q4 2023 or Q1 2024. Dale was advised by Macquarie Capital and Norton Rose Fulbright, and CVC were advised by Howden Tiger Capital Markets & Advisory, Aon Capital Advisory and Aon’s Strategy and Technology Group, EY, Weil, and Bryan Cave Leighton Paisner.

About Dale Underwriting Partners

Dale Underwriting Partners is an independent, owner-managed underwriting business which began trading with effect from 1st January 2014 with the formation of Lloyd’s Syndicate 1729. The syndicate underwrites Property (re)insurance, Casualty, Healthcare Liability, Specialty, Marine Reinsurance and Energy. Since then, the business has grown, and in 2021 it announced a new joint venture, Dale DUAL MGU Limited. In 2022, Dale was given authorization to establish its managing agency at Lloyd’s, Dale Managing Agency Limited. For further information about Dale please visit: www.daleuw.com.

About CVC

CVC is a leading private equity and investment advisory firm with a network of 25 offices throughout EMEA, the Americas, and Asia, with approximately €161 billion of assets under management. CVC has six complementary strategies across private equity, secondaries and credit, for which CVC funds have secured commitments in excess of €200 billion from some of the world’s leading institutional investors. Funds managed or advised by CVC are invested in over 125 companies worldwide, which have combined annual sales of approximately €130 billion and employ more than 450,000 people. For further information about CVC please visit: https://www.cvc.com/. Follow us on LinkedIn.

CVC funds are a leading investor in the Financial Services sector. Since 2008, the dedicated Financial Services team has been one of the most active on a global basis across many balance sheet and services companies, advising CVC funds to commit over €6 billion of equity with transactions completed across the financial services landscape, including banks & specialty finance, insurance, payments/fintech and wealth & asset management sectors. Insurance is a key focus for the team who have extensive experience across the insurance landscape, including CVC funds’ current and former investments in: Brit Insurance, RiverStone International, Pension Insurance Corporation, Domestic & General, Ethniki, Fidelis, and April.

About CVC Strategic Opportunities

The CVC Strategic Opportunities platform was established in response to growing demand from large investors to be able to invest longer term in high-quality businesses. The platform provides partnership capital to make control, co-control, and minority investments in companies with a longer-term return profile and a secure capital structure. For further information about CVC Strategic Opportunities please visit: www.cvc.com/strategies/strategic-opportunities/.

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Ontario Teachers’ acquires KKR’S stake in Environmental Platform Greencollar

KKR

SYDNEY & TORONTO–(BUSINESS WIRE)– Ontario Teachers’ Pension Plan (Ontario Teachers’) and KKR, a leading global investment firm today announced the signing of a definitive agreement under which Ontario Teachers’ will acquire KKR and other shareholders’ stakes in GreenCollar, a leading Australian environmental markets platform. Financial terms of the transaction were not disclosed.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230917665584/en/

Ontario Teachers’ first became an investor in GreenCollar in March 2022. With this latest investment, Ontario Teachers’ deepens its relationship with GreenCollar, taking on a significant majority stake in the Company, with GreenCollar CEO and Co-founder James Schultz continuing to lead the business and remaining a significant shareholder.

Ontario Teachers’ Natural Resources group, which is part of the Infrastructure and Natural Resources department, has significant experience investing in agriculture, aquaculture, timberland, and natural climate solutions, including in Australia where it has a large agriculture portfolio.

Christopher Metrakos, Senior Managing Director, Natural Resources at Ontario Teachers’, said: “We are pleased to increase our investment in GreenCollar and to continue supporting James and his team in their mission to restore and enhance natural capital in areas like biodiversity and water quality. GreenCollar is a proven leader in delivering positive environmental outcomes with market-based solutions and we are excited to continue supporting the company in its next chapter of growth in Australia and beyond. We’d like to thank the team at KKR for their support and partnership on this investment.”

James Schultz, CEO and Co-Founder of GreenCollar, added, “We look forward to our deepening relationship and collaboration with Ontario Teachers’ and tapping into their knowledge and expertise in the natural resources sector. We also want to extend our sincere gratitude to KKR for their support and commitment over past few years.”

KKR first invested in GreenCollar in 2020 as part of its Global Impact strategy, which focuses on companies that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). As a certified B corporation and provider of environmental initiatives that reduce the impact of climate change, GreenCollar’s core business directly contributes toward SDG 13 (Climate Action) and supports other sustainable goals, including SDG 15 (Life on Land) and SDG 14 (Life Below Water).

GreenCollar is the first Global Impact Fund investment to implement a broad-scale employee ownership plan. Once the transaction has completed, all employees at GreenCollar will share in the proceeds from the sale under a program that aims to build stronger companies and drive greater financial inclusion through employee ownership and engagement.

George Aitken, Managing Director and Head of KKR Global Impact, Asia Pacific, said, “GreenCollar is a great example of a solutions-oriented business that KKR looks to support through our Global Impact strategy, addressing some of the world’s biggest challenges such as climate change. Together with James, Ontario Teachers’ and the whole team at GreenCollar, we have made great strides in advancing GreenCollar’s important mission. It’s been a fantastic journey. We strongly believe that an ownership mentality among employees can build a stronger culture, create a more engaging experience, and ultimately drive stronger business performance – and the results speak for themselves here. Going forward, we are confident that Ontario Teachers’ and the team will continue building on that success.”

GreenCollar is the latest example of KKR’s focus on employee ownership and engagement as a key driver in building stronger companies and driving greater financial inclusion. Since 2011, KKR-backed companies have awarded billions of total value through broad-based equity programs to over 60,000 non-senior employees across more than 35 companies. In all cases, the employee ownership programs are an incremental benefit and not in exchange for benefits, wages or wage increases.

The transaction is expected to close in the fourth quarter of 2023, subject to customary regulatory approvals.

KKR was advised by Gilbert & Tobin and UBS. Ontario Teachers’ was advised by Baker & Mackenzie and EY.

About GreenCollar

GreenCollar is a profit-for-purpose organisation, and the leading environmental markets project developer and investor across the climate, water quality, biodiversity and plastics markets in Australia. Founded in 2011, GreenCollar works with landowners and managers throughout Australia to develop projects that create commercial opportunities by generating environmental credits, while caring for the environment. GreenCollar’s management team are widely recognised as thought leaders in the environmental markets industry.

About Ontario Teachers’ Pension Plan

Ontario Teachers’ is a global investor with net assets of C$249.8 billion as at June 30, 2023. We invest in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 336,000 working members and pensioners.

With offices in Hong Kong, London, Mumbai, San Francisco, Singapore and Toronto, our more than 400 investment professionals bring deep expertise in industries ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have earned an annual total-fund net return of 9.4% since the plan’s founding in 1990. At Ontario Teachers’, we don’t just invest to make a return, we invest to shape a better future for the teachers we serve, the businesses we back, and the world we live in. For more information, visit otpp.com and follow us on LinkedIn.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media:

GreenCollar
Nerida Bradley
+61 414 966 129
nerida.bradley@greencollar.com.au

Ontario Teachers’
Dan Madge
+1 416 419-1437
media@otpp.com

KKR
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Citadel-MAGNUS (for KKR Australia)
James Strong
+61 (0)448 881 174
jstrong@citadelmagnus.com

Source: KKR

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KKR to acquire 20% stake in Singtel’s Regional Data Centre Business valued at S$5.5 billion

SINGAPORE–(BUSINESS WIRE)– Singtel, Asia’s leading communications technology group, and leading global investment firm KKR have reached a definitive agreement under which a fund managed by KKR will commit up to S$1.1 billion (~US$800 million) for a 20% stake in Singtel’s regional data centre business. This investment puts the enterprise value of Singtel’s overall regional data centre business at S$5.5 billion. KKR will have the option to increase its stake to 25% by 2027 at the pre-agreed valuation.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230917375570/en/

The collaboration is a first between Singtel and KKR, and enables Singtel to tap on KKR’s expertise investing in data centres and critical telecommunication infrastructure globally in addition to capital. The proceeds from this transaction will be used to accelerate the expansion of the regional data centre business across ASEAN markets, including Singapore, Indonesia and Thailand, while exploring markets like Malaysia and others. This will widen the business’ strategic choices, giving a variety of options to monetise in the future.

Singtel’s regional data centre business is part of the Digital InfraCo unit which was formed in June 2023. Singtel has been growing this business anchored by its expertise in Singapore where it is one of the largest operators. In addition to 62MW of existing capacity in Singapore, Singtel is building a new 58MW DC Tuas in Singapore and has also partnered Telkom and Medco Power in Indonesia and GULF and AIS in Thailand to develop data centres in Batam and Bangkok respectively. The data centre portfolio will deliver a total combined capacity of over 155MW once the three new projects are operational in 2025, with room to scale up to more than 200MW.

Mr Bill Chang, CEO of Singtel’s Digital InfraCo, said, “KKR’s investment underscores the quality of our data centre portfolio and confidence in our plans to scale the business by capitalising on the digitalisation and rapid AI adoption that is transforming this region. Our expertise in designing, building and operating data centres, and our connectivity leadership in the region, together with KKR’s strong track record in supporting digital infrastructure assets and its platform-building expertise makes for a powerful combination. We look forward to building on the strong momentum we have achieved to grow the business into one of the region’s leading green and sustainable data centre platforms with rich hyper-connectivity services.”

Mr Arthur Lang, Group CFO at Singtel, added, “The data centre industry is growing at an accelerated pace given the unprecedented industry trends we are witnessing. KKR is a highly credible partner in the data centre space and we look forward to our strategic partnership in scaling up the platform to become a meaningful growth engine for Singtel. The investment by KKR crystallises the latent value of our data centre assets and we hope this illuminates value for our shareholders in the coming months. With more than S$6 billion being unlocked since we embarked on our strategic reset two years ago, we continue to focus on unlocking value for our shareholders.”

Mr David Luboff, Partner and Head of Asia Pacific Infrastructure, KKR, said, “We are pleased to provide this tailored solution to support the regional data centre platform of Singtel, one of the most longstanding and distinguished corporations in Singapore and a leading digital infrastructure provider in Asia Pacific. Robust digital infrastructure, including high-quality data centres, will play a crucial role in enabling Southeast Asia’s flourishing digital economy, and Singapore is well-placed to serve as a central hub for the region. We look forward to working closely with Bill, Arthur and Singtel’s talented team to meet this tremendous demand, and sharing our global expertise and network to accelerate the platform’s growth across the region.”

Southeast Asia’s data centre market is expected to grow by 17% over the next five years compared to 12% for the rest of the world, with US$9 billion to US$13 billion in investments projected to flow into the region. While data centre capacity is poised to increase at a compound annual growth rate of 19% from 2021 to 20261, demand is expected to outpace supply driven by increased data consumption, enterprises transitioning to the cloud and the rapid rise of AI in the region. Malaysia, Indonesia and Thailand could see the biggest increase in capacity with Johor, in particular, benefitting from spill-over demand from Singapore due to the island state’s supply constraints. The growing need to handle high performance computing tasks such as generative AI will also spur a significant growth in GPU-powered data centres in the years to come.

KKR is making this investment as part of its Asia infrastructure strategy. This transaction marks KKR’s latest investment in Southeast Asia infrastructure and data centre infrastructure globally. KKR’s infrastructure investments in Southeast Asia have included Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines; First Gen, a leading provider of clean and renewable power in the Philippines; and Aster Renewable Energy, a renewables platform that develops, builds, and operates solar, wind, and energy storage projects in the region. Worldwide, KKR’s investments in the data centre infrastructure sector have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data centre solutions; Global Technical Realty, a build-to-suit and roll-up acquisition data centre platform in Europe; and CoolIT Systems, a leading provider of scalable liquid cooling solutions in Canada.

The transaction is expected to be completed by the fourth quarter of 2023, subject to regulatory approvals and customary closing conditions.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Singtel

Singtel is Asia’s leading communications technology group, providing a portfolio of services from next-generation communication, 5G and technology services to infotainment to both consumers and businesses. The Group has presence in Asia, Australia and Africa and reaches over 770 million mobile customers in 21 countries. Its infrastructure and technology services for businesses span 21 countries, with more than 428 direct points of presence in 362 cities.

For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber security capabilities.

Singtel is dedicated to continuous innovation, harnessing technology to create new and exciting customer experiences and shape a more sustainable, digital future.

For more information, visit www.singtel.com.

Follow us on Twitter / X at @SingtelNews.

____________________
1 Kearney 2022

Media

Wei Jun Ong
KKR Asia Pacific
Mobile: +65 6922 5813
Email: WeiJun.Ong@kkr.com

Marian Boon
Singtel
Mobile: +65 8876 1753
Email: marian@singtel.com

Source: KKR

Categories: News

Ardonagh and Markerstudy to create a major personal line player with over £3 billion in annual premiums

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Pollenstreet
  • Markerstudy and Ardonagh’s personal lines broking business Atlanta will merge to create a major new platform transacting over £3 billion annual GWP across multiple insurance products in the competitive UK insurance market
  • The enlarged group will combine complementary capabilities across underwriting and distribution to offer an enhanced proposition for the benefit of millions of customers
  • The transaction values Atlanta at £1.2 billion

The Ardonagh Group (“Ardonagh”) and Markerstudy Group (“Markerstudy”) have agreed a merger between Markerstudy and Atlanta Group (“Atlanta”), Ardonagh’s personal lines broking business, to create a major new player in the UK insurance market.

The combined business will provide a wide range of insurance products to millions of consumers, including home and motor insurance, and will employ around 7,300 people across the UK. It will transact over £3 billion in annual Gross Written Premium (GWP).

The transaction, which is subject to customary conditions (including regulatory approvals), values Atlanta at £1.2 billion and will be funded by a new investment led by Pollen Street Capital and Bain Capital Special Situations. Ardonagh and its related parties will receive a combination of cash and a substantial minority equity stake in the combined business, in addition to two seats on the board of directors of the combined business.

Key Atlanta executives including Ian Donaldson, Craig Ball and Emma Rawlinson will join the Markerstudy management team as senior executives of the combined group.

With more than 2,100 colleagues across 12 locations, Atlanta manages c.£1 billion of GWP on behalf of 2.6 million customers. It distributes a broad suite of products through household insurance brands including Swinton, van specialist Autonet and motorcycle experts Carole Nash.

Markerstudy offers omni-channel distribution and a broad product proposition to approximately 6 million customers across motor, pet, home and commercial (particularly SME). The company has upwards of 5,200 colleagues, across 19 sites, and reported GWP of £2 billion in 2022.

The combined group will bring together highly complementary capabilities across pricing, underwriting and distribution and as a result will deliver an enhanced proposition for millions of new and existing customers.

Kevin Spencer, Markerstudy Group CEO, said: “As existing business partners, we have worked closely with Atlanta for a long time, and so we know first-hand just how exceptional the business and its people are. There are few deals in the market with the potential to be truly transformational for all parties concerned and a combination with Atlanta has been a long-term ambition of ours.  The strong alignment in our models and shared values and ambitions simply could not be ignored. I’ve never been more excited for the future.”

Ian Donaldson, CEO of Ardonagh Retail, comments: “The coming together of well-known insurance brands and talent from across Atlanta and Markerstudy creates a major new player in the UK insurance industry and is the latest chapter in our phenomenal growth story. With the support and backing of the Ardonagh Group, Atlanta has evolved from the van broker Autonet, into a major multi-product, multi-brand insurance challenger in the UK. This transaction is a huge testament to our people and we look forward to working with Kevin and his team to continue innovating and providing great value to our customers.”

David Ross, CEO of The Ardonagh Group, said: “The Ardonagh strategy has always been to find and empower strong management teams, and to back their ambitions with a clear and relentless focus on equity value creation. This combination with Markerstudy is an important step in the Atlanta journey, and presents compelling opportunities for its customers and people. We are very proud of what the Atlanta team have achieved since joining our Group in 2017 and look forward to continuing to work with Kevin, Ian and our new partners at Pollen Street to create a major new player in the UK insurance market.”

Michael England, partner at Pollen Street, said: “We are thrilled to support this merger. Under Ian’s leadership Atlanta has expanded through organic growth initiatives and targeted M&A into a high quality distribution platform. Similarly Markerstudy has developed rapidly, growing strongly since we invested in 2021. In combining the two businesses we have an exceptional opportunity to support this major new platform.”

Fenchurch Advisory Partners is acting as exclusive financial adviser to The Ardonagh Group on this transaction.
Continuum Advisory Partners is acting as exclusive financial adviser to Markerstudy and Pollen Street Capital on this transaction.
Skadden, Arps, Slate, Meagher & Flom (UK) LLP acted as advisers to the founders of Markerstudy on this transaction.

ENDS

Media contacts:

Markerstudy Group

Charlie North
cnorth@markerstudy.com
07990 436690

Ben Welsh
benwelsh@certuscc.com
07568 382040

Mark Bishop
mark@markbishopconsulting.co.uk
07802 925053

The Ardonagh Group

Justin Griffiths / Siobhan McCluskey
Ardonagh@Powerscourt-Group.com
+44 (0) 20 7250 1446

Elinor Zuke
elinor@zuke.co.uk
+44 (0)7863 350270

Pollen Street 

Chris Sibbald
Chris.Sibbald@fgsglobal.com 
+44 (0)7855955531

Notes to editors

MARKERSTUDY GROUP

Established in 2001, the group supports UK broker partners and protects in excess of six million customers with a comprehensive range of insurance products and services.

Having grown organically and through targeted acquisition, Markerstudy includes the UK’s largest Managing General Agent, Markerstudy Insurance Services Limited (MISL).

We are an inclusive organisation of more than 5,200 employees and are proud to have achieved Gold accreditation from Investors in People for three consecutive periods.

Other sectors within the group are BGL Insurance and Markerstudy Broking – together providing a variety of motor, home, SME and pet insurance products in partnership with several of the best-known brands in UK financial services and retail, and through own brands, including Budget Insurance, Dial Direct, Lancaster Insurance and Purely Pets. Complementary businesses include Auto Windscreens, VisionTrack and Vision Vehicle Solutions.

Markerstudy has invested in market leading digital platforms and cutting edge data science and technology to improve the customer and colleague experience, winning 17 awards in 2022 across the group for excellence in technology, contact centres, apprentices, health and safety, risk management, and internet of things (IoT).

For more information, visit: www.markerstudygroup.com

THE ARDONAGH GROUP

The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. Pro forma income is £1,572 million in the 12 months to 30 June 2023, and Adj EBITDA £544 million.

We are collection of best-in-class entrepreneurial and specialist brands with a network of over 200 locations and a combined workforce of 10,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.

For more information, visit our website: www.ardonagh.com.

POLLEN STREET

Pollen Street is a purpose led and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sector aligned with mega-trends shaping the future of the industry. Pollen Street manages over £3.4bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 80 professionals with offices in London and the US.

For more information, visit: www.pollenstreetgroup.com

Bain Capital Special Situations

Bain Capital Special Situations is a global team of investors who have driven value creation for more than 20 years. Bain Capital Special Situations has $18 billion in assets under management and has invested more than $28 billion since our inception in 2002. We provide bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners. Across all market cycles, the strategy brings together credit, equity, corporate and real asset expertise to partner where traditional providers cannot. Our dedicated, global team of more than 100 investment and portfolio professionals contribute the local expertise and capabilities that enable these diverse investments. For more information, please visit: https://baincapitalspecialsituations.com/ 

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Eurazeo invests into 2BSI, an innovativeactor in circular economy and waste recovery

Eurazeo is delighted to announce its investment in 2BSI by its Transition Infrastructure Fund and will support the group in its decarbonisation strategy. Through this transaction, Eurazeo becomes the majority shareholder in 2BSI, alongside its historical investors, Garibaldi Participations and a pool of investors from the Caisse d’Epargne group (CELDA/CEPAL), and the management team.

Founded in 1993, 2BSI is a materials and energy recovery specialist operating in niche markets: recovery of concrete poles and sleepers (via its divisions SRB and Gravaloire) and class C hazardous wood (SRB and Gravaloire), manufacturing of composite poles (via its division Transalpes Composites), and recovery of bio-waste (via its division BME). The group has established long-term relationships with institutional customers (Enedis, Orange, SNCF, etc.) and has co-created solutions perfectly adapted to their needs, such as manufacturing of composite poles designed for Orange.

The group’s ambition is to address the challenges of the energy and ecological transition, and it is positioned today as a key player in the waste management and recovery space, with full control of its upstream and downstream processes, through: long-term contracts with customers, energy recovery of processed waste through two channels (biomass and biogas power plants), and a unique territorial network.

Through this investment in 2BSI, Eurazeo is tackling the challenge of accounting for ESG issues in the recovery of infrastructure waste. Eurazeo will support 2BSI in its transition, notably by putting in place an ambitious decarbonization trajectory in line with the Paris Agreement, and will study the possibilities of making the group’s activities more circular. Eurazeo’s investment will also support de development of the group, both organically and through targeted acquisitions. Eurazeo’s investment will also support the company’s development, both organically and through targeted acquisitions.

This is the sixth investment made by Eurazeo’s Infrastructure team, which is pursuing its ESG and sustainability objectives by supporting the energy transition and contributing to a low-carbon economy.

Richard Molina, CEO of 2BSI, declared:

« The 2BSI team and I are delighted to welcome Eurazeo as a new shareholder. Joining forces with a leading European fund is a strategic step in continuing our development as a major player in the highly specialized recycling business. We are convinced that this partnership will help us strengthen our leading position in the French regional market and accelerate the decarbonization of our activities and our development in biowaste. »

Martin Sichelkow, Managing Director – Infrastructure added:

« We are proud to invest in 2BSI, a French leader in the recovery of infrastructure waste and bio-waste. The quality of its management and the growth prospects of the markets it serves make 2BSI a key player in the waste management, and an important vector in the transition to a low-carbon economy. »

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Altor to invest in Marshall Group

Stockholm, 15/09/2023 – Altor Funds (“Altor”) have signed an agreement to acquire a significant minority stake in Marshall Group AB (“Marshall Group”), from funds advised by Varenne AB, Varenne Invest I AB, Zenith Venture Capital I AB, Zenith Venture Capital III AB as well as a large number of smaller investors.

Marshall Group is the audio, tech and design powerhouse uniting musicians and music lovers through genre-breaking innovation with Marshall, Marshall Records, Marshall Live Agency, Marshall Studio, Natal Drums, Urbanears, and adidas headphones. Marshall is active in more than 90 markets, with about SEK 4 billion of revenues and brings together around 800 talented people across eight locations globally.

The Marshall Group is currently on a strong, and profitable, growth trajectory, accelerated by the merger of Zound Industries and Marshall Amplification which formed the new Marshall Group earlier this year. Altor is excited to support the existing growth strategy set by Marshall’s management and board of directors.

“We have formed a strong and positive agreement with Altor that will enable us to move forward in harmony and fully unlock Marshall Group’s amazing potential with the management team. We’re excited about building on the Marshall legacy together and creating value for all shareholders.” says Henri de Bodinat, Chairman, Marshall Group.

“We have a long history of partnering with and supporting strong brands on international growth journeys, which is why we are very excited to partner with Marshall. We are highly impressed by what the company has achieved, its unrivalled market reputation, iconic brand, and strong management team and we look forward to working closely with the existing owners and management team to continue the Marshall growth journey.” says Andreas Källström Säfweräng, Partner and Head of the Consumer Sector at Altor.

“We’re pleased to welcome Altor to the Marshall Group and to continue building the best products and experiences for musicians and music lovers around the world to fuel our profitable growth momentum for years to come. The integration across the Marshall Group is going very well and we’re ahead of schedule to create the perfect conditions to come together as one team, with one shared ambition and strategy.” says Jeremy de Maillard, CEO, Marshall Group.

 

Closing of the transaction is subject to customary regulatory approvals.

About Altor

Since inception, the family of Altor funds has raised more than EUR 10 billion in total commitments. The funds have invested in just south of 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are H2 Green Steel, Trioworld, OX2, Vianode, Tibber, and Svea Solar. For more information visit www.altor.com.

Press contact

Tor Krusell

Head of Communications

tor.krusell@altor.com

+46 705 43 87 47

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Controlant announces $40 million in new financing from Apax Credit Funds

Apax

Controlant, a global leader in real-time pharma supply chain monitoring and visibility technologies, today announced it has received $40m in financing to support future growth from Funds advised by Apax Credit, the credit-investing arm of Apax Partners LLP (“Apax”).

Controlant is a global leader in the digital transformation of pharma supply chains. The company’s vision is to deliver zero-waste supply chains for its partners and the planet through digitalisation, automation, and transformation of the pharma supply chain. Controlant‘s holistic solution framework encompasses cloud-enabled software platform, coupled with advanced IoT devices,  and cost-reducing operational services that increase supply chain efficiency and responsiveness while supporting quality, compliance, and sustainability efforts.

“As pharma companies continue to innovate at pace and introduce breakthrough medicines and vaccines, it is incredibly important that modern supply chains match this pace and serve as enablers in ensuring medicines reach patients safely, and sustainably. That is our vision, and we are working tirelessly to create the next generation of zero-waste supply chains for our pharma customers”, said Gisli Herjolfsson, CEO and co-founder, Controlant.  “We are thankful for Apax Credit’s support on this journey, which will enable us to accelerate our roadmap of innovative solutions for our customers rapidly evolving and complex supply chain needs.”

The financing will help the company to accelerate growth, expand its already comprehensive and market-leading offering to global customers, and capitalise on strong tailwinds in the supply chain technology sector.

“Apax’s credit strategy provides flexible capital solutions for stand-out businesses across Apax’s four core sectors. Leveraging insights from across Apax and Apax Credit, we were pleased to provide a tailored solution for Controlant, designed to help the company in its next phase of growth”, said Albert Costa Centena, Principal, Apax Credit. “We are excited to partner with the team, leveraging our sector insights, operational expertise, and the wider Apax platform to support a business at the cutting edge of real-time visibility technology for pharma supply chains.”

– Ends –

About Controlant

Controlant is a global leader in the digital transformation of pharma supply chains. Our vision is to deliver zero-waste supply chains for our partners and the planet through digitalization, automation, and transformation of the pharma supply chain.

Our validated real-time visibility platform, command center, services, and advanced IoT devices, are trusted by many of the world’s leading pharmaceutical and logistics companies to make their operations significantly more reliable, cost-effective, and sustainable. Ultimately, our solutions help get life-saving medicines to more patients, curing more diseases.

With over 500 employees of more than 40 nationalities, Controlant continues to expand globally. Founded in 2007 and backed by a strong investor base, Controlant generated around USD 133 million in revenues in 2022. More information at controlant.com

 

About Apax Credit and Apax

Established 10 years ago, Apax Credit is fully integrated into the wider Apax Platform, fully leveraging Apax’ 50 years of experience. Like the Apax Private Equity Funds, the Apax Credit Fund focuses on investments in four core sectors: Tech, Services, Healthcare and Internet/Consumer, and within each they identify attractive sub-sectors where they can offer differentiated propositions to companies, their management teams, and wider stakeholders. The Apax Credit strategy benefits from a flexible mandate, allowing the team to focus on the credit solutions that offer the best fit in each case. For further information, please visit: https://www.apax.com/create/strategies/apax-credit/

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $65 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

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t: +44 20 7872 6300

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