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Ardian Clean Energy Evergreen Fund (ACEEF) acquires a 21.6MW wind farm in Finland

Ardian

Ardian’s evergreen fund has acquired the Honkajoki wind park in Kankaanpää, Finland, from Access Capital Partners and KGAL
• The wind park began operating in 2013 and comprises of nine wind turbines with 21.6 MW of capacity
• The transaction fits into a broader deployment strategy covering wind and battery storage in Finland

Ardian, a world leading private investment house, announces the acquisition of 100% of Honkajoki in Finland, through its Clean Energy Evergreen Fund (ACEEF).  The sellers are two private asset management companies: UK based Access Capital Partners and German KGAL. Following the acquisition, the asset will be managed by Ardian’s operating partner in the region, eNordic. As part of a broader deployment strategy in the country, ACEEF also acquired another 6MW operating wind farm in the country earlier this year and is developing standalone and co-located battery storage projects in house, alongside eNordic.

The assets will also benefit from further integration with Ardian’s worldwide renewable-energy asset management platform, OPTA. OPTA is Ardian’s in-house data analytics tool designed to optimize the management of renewable energy portfolios and monitor market risk for renewable assets worldwide. Ardian now tracks more than 2.5 GW of renewable assets through OPTA.

These acquisitions further strengthen Ardian’s investment portfolio in renewable energy in the Nordic countries. The full portfolio aggregates to €1.2 bn and comprises wind parks totalling over 500 MW, as well as renewable energy company Nevel, which is active in district heating, industrial utilities and biogas across Finland and Sweden.

ACEEF will continue to focus on core renewable assets including solar, wind and hydro, as well as emerging technologies across biogas, biomass, storage and energy efficiency.

“The Honkajoki wind park is a strategic acquisition which complements Ardian’s recent investment in the wind park in Hamina. Ardian aims to continue investing in renewable energy in the Nordic countries, as one of the world’s leading regions in clean energy.” Eero Auranne, CEO, eNordic

“These investments further strengthen ACEEF’s long-term, Independent Power Producer approach in the Nordics. Finland fosters new market opportunities in the clean energy sector that Ardian is uniquely placed to capture with its long-term capital and industrial asset management expertise.” Benjamin Kennedy, Managing Director Infrastructure, Ardian

ACEEF is the Ardian Infrastructure team’s first open-ended clean energy fund, which was launched in early 2022 and which reached €1.0bn raised at the closing in July 2023. The fund offers professional investors the opportunity to enhance their exposure to renewable assets and the energy transition. The fund commits to making investments with an environmental objective as described in Article 9 fund of the EU Sustainable Finance Disclosure Regulation (SFDR) and invests globally, with a focus on Europe.

Ardian has been a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds, the team manages more than 8GW of thermal and renewable energy capacity in Europe and the Americas and has more than $28bn under management.

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $156bn of assets on behalf of more than 1,470 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 17 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Apollo Funds and CATEC Launch Hydria Through Acquisition of Kelley Leasing Partners

Apollo logo

Hydria Launches as High-Growth Gaseous Equipment Manufacturing and Leasing Platform Supporting the Energy Transition

Seasoned Industry Executive and Apollo Operating Partner Scott Prince Appointed as CEO of Hydria

Ken Kelley, Bryan Kelley and Wes Knapp Join Hydria in Senior Leadership Roles from Kelley Leasing Partners

NEW YORK and HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) and Composite Advanced Technologies, LLC (“CATEC”), a leading provider of compressed natural gas (“CNG”), renewable natural gas (“RNG”) and hydrogen transportation and storage solutions in the U.S., today announced that CATEC, an affiliate of Apollo-managed funds (the “Apollo Funds”) has acquired Kelley Leasing Partners (“Kelley”), a compressed gas and cryogenic liquid transportation equipment leasing company serving hydrogen, helium and CNG customers across industrial gas, utility and virtual pipeline end markets. In connection with the acquisition, Apollo Funds and CATEC have launched Hydria (the “Company”), a high-growth compressed gas platform providing equipment and services supporting the CNG, RNG, helium and hydrogen value chain with over-the-road transport, storage and leasing capabilities. Apollo Funds are the majority owner of Hydria.

The acquisition of Kelley provides Hydria with enhanced equipment scale and diversification, along with additional manufacturing capabilities, re-testing and maintenance services and significant industry expertise through the Kelley family’s 75 plus years serving the compressed gas space. Ken Kelley, Bryan Kelley and Wes Knapp will join Hydria’s leadership team from Kelley, supporting the growth of leasing and other services.

Seasoned industry executive and long-time Apollo Operating Partner Scott Prince has been appointed Chief Executive Officer of Hydria, bringing extensive experience to the Company from prior collaborations with Apollo affiliates across energy transition growth projects over the last decade.

Hydria CEO Scott Prince said, “The launch of Hydria marks an exciting milestone as the CATEC, Kelley and Apollo teams join forces to spearhead a new platform with significant growth potential in the gaseous logistics industry. Leveraging our collective expertise, we believe Hydria can become a differentiated service provider supporting the end-to-end equipment needs of the compressed gas value chain. We look forward to pursuing various expansion initiatives in support of the energy transition and believe Hydria has a bright future ahead.”

Alberto Chiesara, Co-Founder and President of CATEC, said, “By integrating the combined capabilities of CATEC and Kelley under the Hydria umbrella, we can be better positioned to serve an increasingly diverse customer base across a variety of applications. We want to make it easier for companies to make their operations more sustainable and look forward to leveraging our collective skillsets to pursue opportunities in the high-growth hydrogen transport and storage market.”

Apollo Partner Scott Browning said, “We are excited to partner with Scott and the rest of the standout team and see tremendous potential for Hydria to scale while continuing to add new capabilities to help customers transition away from carbon-intensive fuels towards cleaner alternatives.”

The transaction underscores Apollo’s commitment to driving a more sustainable future and long track record of investing in or lending to companies supporting the energy transition. Last year, Apollo launched its Sustainable Investing Platform, which targets to deploy $50 billion in clean energy and climate capital by 2027 and sees the opportunity to deploy more than $100 billion by 2030. Over the last five years, Apollo Funds have deployed over $23 billion1 into energy transition and sustainability-related investments, supporting companies and projects across clean energy and infrastructure, including offshore and onshore wind, solar, storage, renewable fuels, electric vehicles as well as a wide range of technologies to facilitate decarbonization.

Vinson & Elkins LLP acted as legal counsel to the Apollo Funds. Sprouse Shrader Smith PLLC acted as legal counsel to Kelley Leasing Partners.

About CATEC
CATEC is a leading provider of Type IV compressed gas transportation and storage solutions in the United States. CATEC’s products and services help its customers to transition away from carbon-intensive fossil fuels towards cleaner solutions such as Compressed Natural Gas (CNG), Renewable Natural Gas (RNG) and Hydrogen. Learn more at https://www.catecgases.com.

About Kelley Leasing Partners
Kelley Leasing Partners is a family-owned compressed gas and cryogenic liquid transportation equipment leasing business that has served the industrial gas industry since 1946. Kelley continues to innovate with modern equipment solutions while maintaining a steadfast commitment to innovation and safety. Learn more at https://www.kelleyleasing.com/

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2023, Apollo had approximately $631 billion of assets under management. To learn more, please visit www.apollo.com.

CATEC and Kelley Leasing Partners Contact
Claire Bloxom Armstrong
Public Relations Director
CBA@PavlovAgency.com
+1-817-546-8322

Apollo Contacts
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
Communications@apollo.com

1 As of December 31, 2022. Deployment commensurate with Apollo’s clean transition investment framework, which provides guidelines and metrics with respect to the definition of a clean transition investment. Reflects (a) for equity investments: (i) total enterprise value at time of signed commitment for initial equity commitments; (ii) additional capital contributions from Apollo funds and co-invest vehicles for follow-on equity investments; and (iii) contractual commitments of Apollo funds and co-invest vehicles at the time of initial commitment for preferred equity investments; (b) for debt investments: (i) purchase price on the settlement date for private non-traded debt; (ii) increases in maximum exposure on a period-over-period basis for publicly-traded debt; (iii) total capital organized on the settlement date for syndicated debt; and (iv) contractual commitments of Apollo funds and co-invest vehicles as of the closing date for real estate debt; (c) for SPACs, the total sponsor equity and capital organized as of the respective announcement dates; (d) for platform acquisitions, the purchase price on the signed commitment date; and (e) for platform originations, the gross origination value on the origination date.


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Source: Apollo Global Management, Inc.

Released November 14, 2023

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Portobello Carbono Verde at the Global Carbon Markets Conference of S&P Global Commodity Insights in París

Portobello

Last week we had the opportunity to present our reforestation project at the 2023 Carbon Markets Conference organized S&P Global Commodity Insights in Paris.

It was a remarkable industry event where we were able to discuss the latest trends in Carbon Markets, to learn about new exciting projects in the market and to exchange views with other stakeholders in the industry.

Thank you very much S&P Global Commodity Insights for the impeccable organization of the event and for the invitation!

At the conference, Portobello Capital (represented by Joan Llansó Caldentey), Fundación Repsol (represented by Javier Torres Perez) and Grupo SYLVESTRIS (represented by Jaime de Rábago) were able to present our project Motor Verde and our pioneer reforestation fund, Portobello Carbono Verde SCR.

The three sponsors of this unique project were able to talk about the inception of such a pioneer model, about how we have scaled the project in the last year and about our ambitious goals for the future.

“Portobello Carbono Verde is the first reforestation fund of its kind in Europe. It is a unique investment vehicle structured to develop large-scale reforestation projects in Spain and Portugal. The fund was launched in 2022, with a total reforestation goal of up to 25,000 hectares and a carbon sequestration potential of up to 6 million tons of CO2. Through this project we are driving a triple impact in the regions where we operate: (1) environmental, through the restoration of biodiversity in the area, (2) economic, through the injection of economic activity, and (3) social, throughfostering vulnerable employment in depressed areas.” – Joan Llansó Caldentey, Investment Director at Portobello Capital.

 

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EQT Life Sciences co-leads Vectory’s €129 million ($138 million)

eqt
  • Round co-led by EQT Life Sciences and Forbion
  • Series A financing will support clinical development of the lead program in amyotrophic lateral sclerosis (ALS) and preclinical development of pipeline programs based on VectorY’s broad technology platform

Amsterdam, the Netherlands, November 14, 2023 – EQT Life Sciences is pleased to announce its investment in the €129 million ($138 million) Series A financing round of VectorY Therapeutics, a Dutch biotech company developing innovative vectorized antibody therapies for the treatment of neurodegenerative diseases. The round was co-led by EQT Life Sciences and the Forbion Growth Opportunities Fund.

 

New and existing investors also participated in the financing, including MRL Ventures Fund, a corporate venture arm of Merck & Co., Inc., Rahway, NJ USA, Insight Partners, ALS Investment Fund, Forbion Ventures, BioGeneration Ventures (BGV) and another known investor.

 

VectorY will use the proceeds to support the clinical development of VTx-002, its lead vectorized antibody program targeting TDP-43 for the treatment of ALS. The Company will also accelerate the development of its vectorized antibody platform and additional pipeline programs targeting proteinopathies causing other neurodegenerative diseases.

 

Arno de Wilde, MD, PhD, MBA, Director at EQT Life Sciences, commented: “We are very impressed with VectorY’s unique capabilities to combine gene and antibody therapy drug development with deep neuroscience expertise. The Company’s technology allows for targeted protein degradation while restoring or preserving normal protein function, with applications across multiple neurodegenerative diseases. EQT Life Sciences will invest from the LSP Dementia Fund, led by Prof. Philip Scheltens, leveraging its specific expertise and network and joining VectorY in its mission to develop much needed treatments for neurodegenerative diseases.”

 

In connection with the financing Arno de Wilde, MD, PhD, MBA will join VectorY’s board of directors and Prof. Philip Scheltens, MD, PhD will join as board observer. The company’s full press release can be found here.

About EQT Life Sciences

EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.

 

The LSP Dementia Fund started in 2020 and has a dedicated neuroscience team that combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek.

About VectorY Therapeutics

VectorY is on a mission to provide patients with neurodegenerative diseases a longer, better life by creating transformative vectorized antibody treatments. Our platform combines the promise of precise therapeutic antibodies with one-time AAV-based delivery to the CNS. Unique in-house expertise in antibodies, AAV vectors, protein degradation, manufacturing and neuroscience drives the rapid development of much needed disease-modifying therapies for neurodegenerative diseases such as ALS and Huntington’s disease. For more information, see vectorytx.com.

Contacts
EQT Press Office, press@eqtpartners.com
Prof. Philip Scheltens, Partner and Head of the LSP Dementia Fund, Philip.scheltens@eqtpartners.com

 

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HEXPOL acquires the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc.

Shorling logo

HEXPOL has acquired 100% of the shares in the American TPE Compounder Star Thermoplastic Alloys and Rubbers, Inc. (“Star Thermoplastics”) from Thomas A. Dieschbourg. Through the acquisition, HEXPOL establishes presence on the growing American TPE market. Thomas A. Dieschbourg founded the company in 1993 and has developed the company into a technically advanced TPE company. Thomas A. Dieschbourg will remain as the President of the company.

“The acquisition of Star Thermoplastics is in line with our growth strategy and will enable HEXPOL to enter the American TPE market through a well-established company with a strong product portfolio.”

Peter Rosén, Acting CEO and CFO

“HEXPOL’s addition of Star Thermoplastics to HEXPOL TPE portfolio is a perfect fit. HEXPOL will provide enhanced capabilities and a better geographic reach. The transaction will be beneficial both to the Star Thermoplastics employees and to HEXPOL.”

Thomas A. Dieschbourg

”Star Thermoplastics will enable us to replicate our successful European TPE growth journey on the larger American TPE market. Both our existing TPE companies in Europe and China and Star Thermoplastics will be stronger through this expanded footprint.”

Ralph Wolkener and Carsten Rüter, Presidents HEXPOL TPE Compounding

Star Thermoplastics currently has a turnover of approximately 20 MUSD with a profitability level below that of the HEXPOL Group. Star Thermoplastics has its operations near Chicago, Illinois, USA at one well-invested location with plenty of growth capacity and has some 30 employees. The main end customer segments are automotive, building & construction, medical, industrial, electronics and consumer.

The acquisition price amounts to 26.5 MUSD on a cash and debt free basis and is funded by a combination of cash on hand and existing bank facilities. Star Thermoplastics will be consolidated by HEXPOL from 1 November 2023.

For further information please contact:

Peter Rosén
Acting CEO and CFO
peter.rosen@hexpol.com

+46 (0) 73 656 49 34

HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets and Seals), and wheels made of polymer materials for truck and castor wheel applications (Wheels). Customers are primarily system suppliers to the global automotive and engineering industry, building and construction industry and within sectors as transportation, energy, consumer and cable industry and manufacturers of medical equipment, plate heat exchangers and forklifts. The Group is organized in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2022 amounted to 22,243 MSEK and the Group has approximately 5,000 employees in fourteen countries. Further information can be found at www.hexpol.com.

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General Atlantic Deepens Partnership with Joe & the Juice and Becomes Majority Shareholder

General Atlantic

Investment to help accelerate Joe & the Juice’s expansion in international markets and core value creation initiatives

Expanded partnership reflects Company’s strong fundamentals and global customer demand

New York – November 13, 2023 – General Atlantic (“GA”), a leading global investor, today announced it has entered into an agreement to acquire a majority interest in Joe & the Juice (“the Company”), a fast-growing freshly-made juice, coffee, and sandwiches concept, from Valedo Partners, which will fully exit its investment in the Company. General Atlantic first partnered with Joe & the Juice through a strategic minority growth investment in 2016. Upon completion of the transaction, General Atlantic will become majority control shareholder of the Company. Joe & the Juice plans to leverage its expanded partnership with General Atlantic to further accelerate the growth of its global footprint in key international markets, capitalize on strong customer demand, and extend its digital distribution channels.

Since General Atlantic’s initial investment in October 2016, Joe & the Juice has achieved global scale and strong performance, growing revenue profitably by more than 4x and doubling its store footprint. Today, Joe & the Juice has more than 360 stores around the world, up from 175 in 2016, boasting industry leading store paybacks and profitability. During its partnership with General Atlantic, the Company launched and has significantly invested in digital channels, which now account for 30% of sales and are growing. Part of General Atlantic’s investment will be used to reduce debt on the Company’s balance sheets and focus on an unlevered store rollout in key international markets, capitalizing on global customer demand for convenient, healthy food.

General Atlantic’s additional investment in Joe & the Juice underscores the firm’s conviction in the Company’s strong unit economics, concept, and digital momentum. Joe & the Juice intends to focus on continued international expansion in key markets, particularly in the U.S., where it now has ~70 stores, up from less than five at the time of General Atlantic’s investment in 2016. The Company sees growth opportunities in additional international markets, including the UK and Europe, Middle East, Asia, and Latin America. Following its success in the Middle East region, where Joe & the Juice now has 23 franchised stores, the Company plans to accelerate its franchising partnership worldwide.

“As a long-term partner to Joe & the Juice, General Atlantic is proud to become a majority investor in the brand and continue our collaboration with the management team. Joe & the Juice’s business momentum is inflecting, and we are excited to build on the Company’s digital traction and accelerate company-owned and franchised unit growth,” said Andrew Crawford, Managing Director and Global Head of Consumer at General Atlantic.

“Our increased investment in Joe & the Juice is a testament to the global receptivity of the brand. Joe & the Juice reflects broader secular trends of convenience and healthy living, while also possessing a brand which resonates with customers in multiple markets. We see further runway to double down on our commitment and unlock the business’ full potential,” added Melis Kahya Akar, Managing Director and Head of Consumer for EMEA at General Atlantic.

“We are delighted to have General Atlantic’s expanded commitment to Joe & the Juice. Over the past seven years, General Atlantic has demonstrated a true dedication to collaboration as we have worked together to achieve our growth aspirations,” said Thomas Noroxe, CEO of Joe & the Juice. “As we make strides into our next chapter, we look forward to bringing Joe & the Juice to more customers globally through our focus on geographic expansion, franchising, and a seamless omni-channel experience.”

Founded in Copenhagen in 2002, Joe & the Juice uses high-quality, natural, and organic ingredients in its freshly prepared juices, shakes, coffee, and sandwiches. The Company offers a modern urban ambiance appealing to customers looking for convenience as they live fast-paced, healthy lifestyles. Joe & the Juice’s emphasis on customer service has created a unique atmosphere within its stores, where customers can work or socialize while enjoying exceptional juice and coffee products. The company has a strong global presence with over 360 stores worldwide.

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

About Joe & the Juice

Joe & the Juice is an urban juice bar and coffee concept operating in more than 360 locations across 18 countries. Founded in 2002, the company sells freshly prepared juices, shakes, sandwiches, and coffee, using natural and organic ingredients sourced from growers directly. The differentiated concept offers a modern, urban, and hip ambiance makes it easy for customers who like a fast yet healthy lifestyle while still enjoying an authentic and unique brand. www.joejuice.com

About General Atlantic

General Atlantic is a leading global investor with more than four decades of experience providing capital and strategic support for over 500 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic has more than $77 billion in assets under management inclusive of all products as of September 30, 2023, and more than 220 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Miami, Mumbai, Munich, San Francisco, São Paulo, Shanghai, Singapore, Stamford and Tel Aviv. For more information on General Atlantic, please visit: www.generalatlantic.com.

Media Contacts

Emily Japlon & Liz McBain
General Atlanticmedia@generalatlantic.com

Alex Simmons
+44 7970 174353alex.simmons@edelmansmithfield.com

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PAI Partners raises €7.1 billion for eight flagship funds

PAI Partners

PAI Partners (“PAI” or “the Firm”) today announces the successful final close of its latest Flagship Fund, € (“Fund VIII” or “the Fund”). Fund VIII surpassed its fundraising target, securing €7.1 billion in total capital commitments, highlighting the strong investor confidence in PAI’s investment strategy of transforming businesses into high performing strategic global assets in Europe and North America within the Real Economy.

Despite the challenging fundraising environment, the Fund is c. 40% larger in size compared to its predecessor (PAI Europe VII), which closed at €5.1 billion in 2018.

The Fund received strong support from leading public and private pension funds, sovereign wealth funds, financial institutions and family offices, with growth in commitments from every region. With a re-up rate of c. 90% and over €2 billion of capital sourced from new investors, PAI’s approach has continued to resonate with existing investors and the wider market.

PAI remains steadfast in its commitment to executing its investment strategy, leveraging its industry networks and deep sector expertise to build sustainable European and global leaders. PAI invests behind thematics within traditional industry sectors that are at the heart of economic activity and that are underpinned by solid fundamentals and sustainable growth horizons.

Fund VIII has already deployed c. 35% of its total capital with seven investments to date, including ECG / Vacanceselect, NovaTaste, the Looping Group, ECF Group, Azets Group, Infra Group and Alphia, Inc.

Richard Howell, a Managing Partner at PAI, said: “This successful final close for PAI Partners VIII, at a size 40% larger than its predecessor in a challenging environment, reaffirms the confidence investors have in PAI’s Real Economy strategy and our ability to perform consistently through the cycle. We are grateful for the strong support from both existing and the many new investors that joined the Fund, who share our vision for creating value in traditional industries. We are excited about the investments we have made thus far and look forward to identifying further opportunities that align with our strategy.”

About PAI Partners

PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe. The Firm has c. €26 billion of assets under management and, since 1994, has completed over 100 investments in 12 countries and realised c. €23 billion in proceeds from 58 exits. PAI has built an outstanding track record through partnering with ambitious management teams, where its unique perspective, unrivalled sector experience and long-term vision enable companies to pursue their full potential – and push beyond. Learn more about the PAI story, the team and their approach at: www.paipartners.com.

Media contact

PAI Partners
Dania Saidam
+44 20 7297 4678

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Portobello sells Trison, Europe’s leading integrator of digital signage, audiovisual systems, digital content and innovative solutions

Portobello

La Coruña, 10 November 2023 – Trison, Europe’s leading integrator of digital signage,
audiovisual systems, digital content and innovative solutions, today announced that L-GAM, an
international investment company, will acquire together with its founding shareholders and
management team, who will re-invest meaningfully, 100% of the company from majority holders,
leading private equity firm in Spain, Portobello Capital in order to foster the next phase of Trison’s
growth and value creation.

Carlos Saavedra, Founder and Chairman of Trison and Alberto Caceres, CEO of Trison, said:
“We are tremendously proud of what Trison has achieved over the past years, consolidating its
leadership in its core markets, establishing new lines of business and becoming a trusted and
technology driven partner to retailers, auto-dealers, shopping malls, sports’ arenas and
corporations in Europe and around the world. We are excited about entering into a strong
partnership with L-GAM, which will empower Trison in the next chapter of its growth by
contributing their international reach, expertise and value-creation capabilities”.

Felipe Merry del Val, founding partner of L-GAM, said: “Trison is an outstanding company with a
unique value proposition as a scaled and tech-enabled provider of mission-critical digital services
to enhance customer experience and journeys across a number of industries globally. We are
impressed by the way Carlos, Alberto, and the rest of the team have developed and continuously
expanded the Trison platform over the years, building it into the partner of choice for clients across
its ecosystem. Investing in impactful, leading and technology-enabled business models is at the
core of L-GAM’s strategy, and we feel privileged to partner with management as Trison enters a
new phase of organic and inorganic growth.”

Iñigo Sanchez-Asiain, Founding Partner at Portobello Capital, added: “Our journey with Trison
has been a remarkable story of transformation, growth and success, and importantly a successful
partnership with a world-class management team led by Chairman Carlos Saavedra and CEO
Alberto Caceres whom we thank for the tremendous effort and achievement. We are very
confident about Trison continued success in their future exciting endeavours”.

Founded in 1993 in La Coruña, Trison is a global company dedicated to the digitisation of spaces
to generate unique experiences through the integration of audiovisual systems, spectacular
content and innovative sensory marketing solutions. Trison is the European leader in audiovisual
integration and one of the top digital integrators worldwide. Trison is expected to earn €113m in
Revenue for 2023, has 15 offices in 12 countries, deploys over 3,000 projects per year and is
specialized in global brand roll-outs for the fashion & apparel, automotive and luxury industries.
L-GAM is planning to invest into further product development in order to strengthen and expand
Trison’s offer and service range as well as to continue consolidating the industry worldwide
through acquisitions. Management’s focus will be on building technological capabilities, in further
enhancing its client-centric solutions and driving continued organic and inorganic growth.
The transaction is anticipated to close in November 2023. Further terms of the investment are not
being disclosed.

Press release / Nota de prensa
About Portobello Capital
Founded in 2010, Portobello Capital is a leading alternative asset manager in Southern Europe.
It has €2bn of assets under management across 7 different Private Equity strategies and invested
across more than 20 European companies. Portobello backs industry leaders, partnering with its
managers and founders to implement ambitious growth plans, with a strong focus in
internationalization and sector consolidation.

For more information about Portobello Capital, please visit http://www.portobellocapital.es.

Advisors
Canaccord Genuity acted as financial advisor, A&M as DD advisors and Garrigues as legal
advisors to the sellers, while AZ Capital and EY acted as financial advisors, EY as DD advisors,
and RCD and Paul Weiss as legal advisors to L-GAM.
Media Contacts
Alejandro de Antonio – PR Director at Estudio de Comunicación
aantonio@estudiodecomunicacion.com

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Torqx Capital Partners acquires majority of the shares of ELCEE and Prins Castings & Forgings

Torqx Capital

Torqx Capital Partners (“Torqx”) is pleased to announce that it has acquired a majority share in ELCEE, a leading fabless supplier of mechanical components and assemblies for a wide range of industries. The company is active in the (co-)development, design, engineering, sourcing, supply chain-and inventory management of mechanical engineered parts. ELCEE is headquartered in Dordrecht and operates through local offices across Europe combined with technical support centers in China, The Netherlands and Poland.

Together with Torqx Capital Partners ELCEE straightaway acquires Prins, a supplier of tailor-made castings and forgings, headquartered in the Netherlands with sourcing & test centers in China and India. The Prins acquisition will complement ELCEE’s current product portfolio, customer base and geographic reach. By joining forces with Prins, the company will be able to offer more value-added solutions to customers and leverage synergies in operations, procurement, and engineering.

Torqx has followed ELCEE with great interest over the last years and is very familiar with its end markets and business model via relevant experience from previous investments. On the back of deep industry understanding and extensive experience, Torqx will support the management team to realize ELCEE’s future organic (and inorganic) growth plans. It is Torqx’ ambition to help ELCEE further develop into the undisputed market leader in its core countries.

Peter Fluitsma, CEO of ELCEE states that: “With Rivean Capital’s support, ELCEE has evolved beyond its Dutch origins to become a pan-European industrial supplier driven by an active buy-and-build strategy. Coming from 9 separate operating companies and refining the ELCEE strategy as of 2018, we created a solid platform ready to facilitate the next phase of profitable growth. Going forward Torqx is a partner that shares our vision and values and has a proven track record of building better businesses in a wide range of manufacturing- technical distribution- and other, mostly B2B industries. With Torqx as our partner and Prins in our group, we will have more resources, capabilities and opportunities to grow and develop ELCEE further.”

Marcel Pot, CEO Prins Castings & Forgings; “With over 85 years of experience, Prins has become a prominent supplier specialised in castings and forgings. Our journey reflects a commitment to quality and innovation, leading us from our origins as a trading entity to our present role as a valued business partner. Joining forces with ELCEE represents a significant milestone. This strategic collaboration, supported by Torqx’s experience and proven track record in building businesses, promises new opportunities and synergies. Together, we’ll leverage our combined strengths and resources to deliver even greater value to our customers and establish our position as a global market leader in the industry.”

Rik Leunissen, Partner at Torqx, further states that: “Over the last years, ELCEE has proven itself as the go-to supplier for customer-specific, mission-critical engineered mechanical components and assemblies. We admire ELCEE as a thriving enterprise that has achieved notable success over the past years and is set for the next phase of accelerated growth. Also, we believe it provides a unique opportunity to both companies to combine ELCEE and Prins as one group – with that further solidifying its market leading position in the Benelux and increasing scale in a.o. the German market. This will allow the companies to be able to become even more successful using ELCEE’s and Prins’ combined market power and scale. We are excited to partner with- and support management in further refining and executing their strategy, leveraging Torqx’ extensive experience with similar businesses and deep industry understanding.”

For this transaction, Houthoff and DLA Piper acted as legal advisors to Torqx, with PwC providing financial and tax due diligence services.

About ELCEE
ELCEE is the go-to fabless supplier of mission-critical engineered and standard mechanical components and assemblies for leading manufacturing industries in North-West Europe. The company has approximately 250 FTE’s and is headquartered in Dordrecht, the Netherlands with local sales offices across Europe and technical support centers in China, The Netherlands and Poland. ELCEE provides in-house engineering support as well as quality control and inventory management and serves customers across the material handling, agri- & food processing, equipment manufacturing, construction- and shipbuilding industries, among others. ELCEE carries a strong engineering driven portfolio, as well as an assortment of products from world class brands Crosby, igus® and Wärtsila which are used as single assortments as well as in assemblies. For more information, please visit www.elcee.com.

About Prins Castings & Forgings
Prins is a supplier of tailor-made castings and forgings and helps out in the engineering, design, and quality control phases. Prins has approximately 50 FTEs, is headquartered in Amersfoort, The Netherlands and has locations in China and India to support local operations. Prins is stockholder for custom made products and serves a variety of industries a.o. railinfra-structure, earthmoving equipment, commercial vehicles, building and construction equipment. For more information, please visit www.primepro.eu.

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Regional Rail continues the expansion of its network in the Midwest via the acquisition of two short-line freight railroads

3I

3i-backed Regional Rail, a leading owner and operator of short-line freight railroads across North America, has agreed to acquire Indiana Eastern Railroad and Ohio South Central Railroad, which operate a combined 107 miles of mainline freight railroad across Indiana and Ohio. The rail lines serve an attractive set of industrial customers across a variety of end-markets, including food & agriculture and chemicals. The acquisition further expands Regional Rail’s existing Midwest U.S. presence, which it built out through the acquisition of the Effingham Railroad Company, South Point & Ohio Railroad, and Illinois Western Railroad Company in December 2022, in addition to the company’s freight rail operations at the Port of Indiana-Burns Harbor that commenced in October 2022.

Al Sauer, President and CEO, Regional Rail, commented:

“We are excited to partner with the existing teams at the Indiana Eastern Railroad and Ohio South Central Railroad to expand our operations in the Midwest and look forward to building on the companies’ track records of providing a high-quality service to their customers and driving additional growth.”

Rob Collins, Managing Partner and Head of North American Infrastructure, 3i, commented:

“We believe that these railroads are a great fit for Regional Rail’s strategy of partnering with strong local operators to help grow their business over the long term. We look forward to continuing to support the Regional Rail platform.”

George Andres, CEO of Indiana Eastern Railroad and Ohio South Central Railroad, commented:

“We are proud of what we have established and built with these railroads over many years and believe that Regional Rail is the perfect partner to continue our legacy and support our employees and customers going forward.”

Since partnering in July 2019, 3i and Regional Rail will have more than quadrupled the number of railroads under Regional Rail’s control, growing to 15 freight railroad operations located across North America. The company provides freight transportation, car storage, and transloading services across the United States and western Canada. In addition to freight services, Regional Rail provides railroad crossing signal design, construction, inspection, and maintenance services to a diverse base of short-line and industrial customers in 20 U.S. states via the company’s Diamondback Signal subsidiary.

-ENDS-

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For further information, contact:

3i Group plc

 

Silvia Santoro

Shareholder enquiries

 

Kathryn van der Kroft

Media enquiries

  

 

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

 

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

Notes to editors:

About 3i Group
3i is a leading international investment manager focused on mid-market infrastructure and private equity, with core investment markets in North America and Europe. For further information, please visit: www.3i.com.

About Regional Rail LLC
Regional Rail LLC is a freight transportation holding company headquartered in Kennett Square, Pennsylvania. The company provides freight rail transportation, car storage, and transloading services across the U.S. and western Canada, in addition to railroad crossing signal design, construction, inspection, and maintenance services via the company’s Diamondback Signal subsidiary. For further information, please visit: www.regional-rail.com.

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