Category Archives: News

Ratos AB: Ratos divests Euromaint

Ratos

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Ratos has signed an agreement to divest 100% of the shares in its subsidiary Euromaint, Sweden’s leading independent maintenance company for the rail transport industry, to SSVP, a mid-market private equity fund advised by Orlando Management. Enterprise Value amounts to SEK 650m. The divestment is not estimated to generate any exit results for Ratos.

Ratos acquired Euromaint in 2007 in conjunction with the ongoing deregulation of the train operator market. Throughout its history, the company has focused on delivery of high-quality rail maintenance services, thereby strengthening its market position as a leading maintenance provider for Sweden’s premium fleets, including Arlanda Express, X2000 and Stockholm commuter trains. The company has about 1,050 employees, with annual sales of approximately SEK 1,600m. The Euromaint German operations were divested in 2015 in order to streamline operations.

“Euromaint’s ability to deliver high quality services has strengthened the company’s position in the market for train maintenance. Ratos has owned Euromaint since 2007, and we believe that now is a good time for a new owner to take over,” says Lars Johansson, acting CEO of Ratos.

An agreement has been signed for the sale of 100% of the shares. The divestment is not estimated to generate any exit results for Ratos, taking into consideration the earlier announced impairment of book value that will be set in the third quarter accounts. The investment has generated a negative annual average return (IRR). The transaction is expected to be completed in the fourth quarter of 2016.

For further information, please contact:

Elin Ljung, Head of Corporate Communications, Ratos, +46 8 700 17 20, elin.ljung@ratos.se

Lars Johansson, Acting CEO Ratos, +46 8 700 17 00, lars.johansson@ratos.se

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Gimv invests in next phase of growth of MEGA International, a leading provider of Business and IT Transformation Software

GIMV

25-10-2016 07:30

Gimv acquires a 40% stake in MEGA International, a leading global software and consulting services company, which helps companies improve their business and IT agility to innovate in the digital world. MEGA’s offering has been recognized for years by customers and prominent analysts in enterprise architecture (EA), IT portfolio management (ITPM), business process analysis (BPA), and governance, risk, and compliance (GRC) markets. The other shareholders are Lucio de Risi (Founder/CEO) and the management-team of MEGA International. Over the coming years, the emphasis will be placed on the acceleration of the growth in the US, the ongoing SaaS[1]-transformation, and in extending the audience of its product offering.

MEGA International (www.mega.com) is a global software firm helping companies manage enterprise complexity by giving them an interactive view of their operations. In today’s fast-paced, and disruptive business environment, organizations must be forward-looking and agile to adapt to rapidly-changing markets, technologies, and regulatory requirements. MEGA International’s integrated set of software solutions, called HOPEX, and its consulting services, enables IT departments and/or executives gain the visibility and information they need to make the right choices for effective governance and for striking the right balance between capacity for innovation, cost optimization, and risk management when it comes to their IT strategies and digital transformation programs. MEGA has a global footprint with 8 offices around the globe (Paris – HQ, London, Berlin, Milan, Boston, Mexico, Casablanca, and Singapore). Moreover, it works with 25 business partners around the world. The company’s customers are mostly big, complex – often global – companies and government organizations, e.g. Fannie Mae, Crédit Agricole, UniCredit, Nissan, Eurocontrol, United States Department of Agriculture, SBB CFF, P&G, Gilead or Colruyt. Last year, MEGA International realized a turnover of EUR 43 million with almost 300 employees.

Gimv’s investment provides partial liquidity to the initial shareholders while preparing the company for the next phase in its development. It is the ambition in the coming 3 years’ time (i) to foster the growth among its existing clients and by signing up new customers, (ii) to establish an excellent track record in its already initiated transition to a SaaS offering, and (iii) to apply its software tools to even more applications towards a broader audience.

Gimv Smart Industries platform has a focus on innovative companies with strong technology expertise and headquarters in France, Benelux and DACH regions. During the last years, the team has built a successful track record within the sector of ICT companies, engineered products and advanced manufacturing.

Tom Van de Voorde, Partner in Gimv’s Smart Industries platform: “Globalisation, digitalisation, consolidation and regulation are driving the need for large corporations to have a clear view on and the ability to manage their IT systems. MEGA’s leadership team together with its employees have the vision and the long experience in creating value for their customers by serving their needs and increasing their competitive positioning. We are truly delighted to join this partnership.”

Lucio de Risi, CEO and Founder of MEGA International: “I am very enthusiastic about this partnership and believe Gimv can bring a lot of value through their software expertise and experience in accompanying ambitious entrepreneurs in their international growth”.

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ExproSoft announces acquisition of Miriam

ExproSoft, a supplier of well integrity and reliability software to the oil & gas industry, has acquired Miriam, a supplier of RAM analysis software. The acquisition strengthens and complements ExproSoft’s software portfolio, and further increases the capabilities of ExproSoft to aid oil & gas operators with increasing well uptime and reducing intervention and maintenance cost.

Miriam’s RAM Studio software is a tool for conducting reliability, availability, and maintainability (RAM) analysis. The software helps the oil & gas operators achieve high regularity of oil and gas fields and processing facilities. RAM Studio is a cloud-based platform that enables powerful integration with other solutions.

ExproSoft’s WellMaster software suite is a globally recognized solution for well integrity management and well performance analytics. With more than 40,000 well years of equipment history the solution helps operators identify critical equipment, failures, risk, and downtime drivers. Combined with online monitoring and testing the solution helps in reducing downtime and cost.

Integrating Miriam RAM Studio with WellMaster will enable prediction of failures, downtime, and intervention cost for new and existing wells. This is aligned with ExproSoft’s strategy of further improving well prediction and optimization, and introduce risk-based maintenance planning.

“Miriam has proven to be a next step in RAM analysis. Delivered as a cloud-based service Miriam has demonstrated that it is the most agile solution for RAM analysis in the market. ExproSoft is pleased to be able to offer the two products, Miriam and WellMaster, to the market, as well as the combined analytic capabilities that will change the way the oil and gas industry look at maintenance optimization throughout the complete value chain,” says Odd Are Svensen, CEO of ExproSoft.

“Miriam sees in this acquisition a great opportunity to accelerate the development and marketing of its RAM Studio software, thus better serve the needs of its current and future users. At the same time, Miriam is proud to have been chosen by ExproSoft, a leader within well analytics, as the preferred solution to support WellMaster’s well prediction features. The synergy between the two companies will allow a faster delivery of customer value for RAM Studio and WellMaster in the years to come,” says Christophe Spaggiari, CTO of Miriam.

Exprosoft is a Viking Venture 3 portfolio company. More info: exprosoft.com

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Viking Venture invests in secure document collaboration company Xait AS

Viking Venture

Viking Venture invests in the Norwegian company Xait AS. The company has developed XaitPorter, a document collaboration and production tool used by major corporations globally.

Xait AS was founded by CEO Owe Lie-Bjelland and CFO Arnt Jørund Andreassen in 2000 and has grown to be a major player in the market for production of complex documents. The company has implemented a cloud based offering with a subscription based business model. XaitPorter is used by corporations when producing complex documents such as tenders, proposals, reports, governing documents and project documentation. The software supports both the production and formatting dimension as well as the project management, review and approval dimension of document production.

“We are impressed by the quality of the team, the product and the customers they have attracted. With more than 30% growth and 90% recurring revenue, this company is ideally positioned for further international expansion,” commented, Eivind Bergsmyr partner in Viking Venture and chairman of Xait.

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COTY agrees to aqcquire GHD (“GOOD HAIR DAY”) The World’s Premium hair straightners & Appliances Company

Transaction Further Strengthens Coty’s Worldwide Leading Position in Professional Hair
NEW YORK ­­(BUSINESS WIRE)­­Oct. 17, 2016­­

Coty Inc.(NYSE: COTY) announced today that it has reached a definitive agreement to acquire ghd (www.ghdhair.com), a premium brand in high­end hairstyling appliances from Lion Capital LLP for approximately ₤420 million (ca.USD$510 million) in cash. The transaction will be funded with a combination of cash on hand and available debt facilities. Upon closing, the acquisition is expected to be immediately
accretive to Coty’s earnings.

ghd, which stands for “Good Hair Day,” generated ₤178 million in
revenues in fiscal year 2016. ghd is headquartered in London and has commercial operations in the United Kingdom,
Australia, the United States, Germany, France, Spain, Italyand several other markets.
The company has been expanding from its core salon channel into premium retail and e­commerce. ghd will become part of the Coty Professional Beauty division, where it will be managed as a standalone business led by its current CEO Anthony Davey and management team. Anthony Davey will report to Sylvie Moreau, President of
Coty Professional Beauty.

Categories: News

Ratos AB: TFS acquires dermatology specialist SCIderm

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Ratos’s subsidiary TFS is strengthening its market position in Germany through the acquisition of German dermatology specialist SCIderm GmbH, an industry leader in scientific- and medical consulting and trial execution of dermatology studies.

TFS, an international service provider, a so-called clinical Contract Research Organisation (CRO), which conducts clinical trials for pharmaceutical, biotechnology and medical device companies, is strengthening its market position in Germany through the acquisition of SCIderm. The acquisition enables TFS, who have held a strategic partnership with SCIderm since 2014, to fully leverage on the growing industry demands in dermatology research and integrate SCIderm to its newly established dermatology service division. The combined companies will have approximately 100 employees in Germany and will operate from offices in Hamburg and Munich. SCIderm’s service sales for 2015 amounted to approximately EUR 3,5m.

“TFS acquisition of SCIderm will significantly increase our presence in Germany, a market in which we see a strong potential going forward and where we would look to expand our operations further. SCIderm’s unique dermatology expertise, access to patients and scientific approach to clinical programs will leverage on TFS global capabilities and strong executional infrastructure in conducting global pre- and post-approval trials. There is a distinct consolidation trend in the industry, the acquisition of SCIderm being a proof of that and a part of our growth strategy,” says Dr. Montse Barceló, COO at TFS.

The acquisition is subject to approval by the relevant authorities and is expected to be completed during the fourth quarter.

Ratos invested in TFS in 2015 with a holding of 60%. TFS has approximately 700 employees and reported service sales of EUR 52,9m and EBITDA EUR 5,1m in 2015.

For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Dr. Montse Barceló, COO at TFS, +34 647 409 222

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EQT’s first US-dedicated fund closes at USD 726 million

EQT’s Mid Market US fund closes with commitments of USD 726 million
A growth buyout investment strategy involving transformation of good companies, within the US middle-market segment, into stronger, more sustainable businesses
EQT firmly established in the US with three investment strategies – Infrastructure, Equity and Mid Market

EQT today announces that its first US-dedicated fund, EQT Mid Market US, has been closed with commitments of USD 726 million. The closing date was September 30, 2016.

The EQT Mid Market US fund applies a growth buyout investment strategy which involves developing and transforming good companies into stronger, more sustainable businesses. The fund will make control and co-control investments in high-quality companies operating in sectors with strong underlying growth trends. The fund will also leverage EQT’s network of over 250 Industrial Advisors and apply the firm’s proven governance model and alignment principles to help support portfolio company growth.

Two acquisitions have already been made in the US by the fund; FocusVision (global leader in technology-enabled services in the marketing research and intelligence market) and XP Solutions (world leading provider of industry standard sustainable drainage and flood hazard software for the civil engineering and environmental sectors). The fund continues to experience a rich and robust deal flow and pipeline.

The fund is backed by notable, blue-chip investors in North America and Europe including pension funds, insurance companies and fund-of-funds, among other institutions.

The fund closing grows EQT’s footprint in the US with investment advisory teams across three investment strategies – Infrastructure (which was the first EQT strategy in the US, established in 2008), Equity and Mid Market. The Mid Market US investment advisory team comprises 10 professionals, including Matthew Levine and Brendan Scollans as local US Partners. The team is dedicated to the investment strategy and based in New York, with both local and global experience of middle market transactions across sectors.

“The closing of a US-dedicated fund is a milestone in the overall expansion of EQT, being an integrated alternative investment firm with multiple investment strategies globally. We believe EQT’s value-add industrial approach, clear corporate governance model and global platform is distinctive in the US middle market and we believe EQT offers mid market businesses more than traditional private equity firms can offer,” says Jan Ståhlberg, Head of Mid Market US and Deputy Managing Partner at EQT Partners, Investment Advisor to the EQT Mid Market US fund.

The fundraising for the EQT Mid Market fund has now closed. Accordingly, the foregoing should in no way be treated as any form of offer or solicitation to subscribe for or make any commitments for or in respect of any securities or other interests or to engage in any other transaction.

Contacts:
Jan Ståhlberg, Head of Mid Market US and Partner at EQT Partners, Investment Advisor to the EQT Mid Market fund, + 1 917 281 0849
Kerstin Danasten, EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading global private equity group with approximately EUR 30 billion in raised capital. EQT Funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

About EQT Mid Market US
EQT Mid Market US is a USD 726 million fund which will target control and co-control equity investments in companies with strong market positions, significant potential for revenue and earnings growth, strong cash flows and a solid platform that can retain and attract high-quality management. EQT Mid Market US will seek to make equity investments typically ranging between USD 35 million and USD 140 million. The geographical focus will be North America and within the following six sectors – Industrials, Consumer Goods & Retail, Services, TMT, Energy & Environment, and Healthcare.

More info: www.eqtpartners.com

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DIF and EDF Invest complete Thyssengas acquisition

DIF

Frankfurt, 5 October 2016 – DIF Infrastructure IV and EDF Invest, as equal shareholders in a consortium, are pleased to announce that they have closed the acquisition of 100% of Thyssengas, a German gas transportation network, from Macquarie-managed vehicles.

Thyssengas owns 4,200km of gas transportation pipelines serving industrial and municipal clients in North-Rhine-Westphalia. The company has a long standing history in the region, employs over 250 people, and realizes its allowed revenues largely under the regulation of the German Federal Network Agency (Bundesnetzagentur).

As long term infrastructure investors, DIF and EDF Invest aim to maintain the operational excellence of Thyssengas’ network, one of the leading transmission system operators in Germany.

The transaction was partially funded by an acquisition loan provided by ING, RBC and SEB. The EUR 320m note provided by Allianz will remain in place after closing.

Royal Bank of Canada (financial advisor), Clifford Chance (legal), PwC (regulatory, tax, model audit, financial), Poyry (technical and commercial) and Willis (insurance) advised the sponsors while the lenders were advised by Herbert Smith Freehills.

About DIF

DIF is an independent and specialist infrastructure fund management company, managing funds of approximately €3.3 billion. DIF invests in infrastructure assets that generate long term stable cash flows, including PPP / PFI / P3, renewable energy assets and other core infrastructure assets in Europe, North America and Australia.

DIF has offices in Amsterdam, Frankfurt, London, Paris, Luxembourg, Madrid, Toronto and Sydney.

For more information, please contact:

Paul Nash, Partner
Email: p.nash@dif.eu

Allard Ruijs, Partner
Email: a.ruijs@dif.eu

About EDF Invest

Created in July 2013, EDF Invest is the unlisted investment arm of EDF’s Dedicated Assets, the asset portfolio which covers its long-term nuclear decommissioning commitments in France. EDF Invest targets three asset classes: Infrastructure, Real Estate and Private Equity. Its Infrastructure portfolio includes in particular a 50% stake in RTE (the French electricity transmission company) as well as significant stakes in TIGF (the gas transport and storage company operating in the South-West of France), Porterbrook (one of the three main rolling stock companies (ROSCOs) in the UK), Madrileña Red de Gas (the operator of the main gas distribution network in the region of Madrid) and Géosel (a French underground hydrocarbons storage facility).

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IK Investment Partners to invest in APOSAN

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IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund has reached an agreement to acquire APOSAN Dr. Künzer GmbH (“APOSAN” or “the Company”), a leading pharmaceutical homecare company in Germany. Financial terms of the transaction are not disclosed.

APOSAN was founded in 1991 by Dr. Clemens Künzer, with the purpose to service homecare patients through the compounding of individualised infusible and injectable medication. Since then, the company has evolved to an integrated full-range pharmaceutical homecare supplier with its own manufacturing capacities and a dedicated key account management and homecare nurses team to generate and support its growing nationwide patient base. The APOSAN group of companies is organised in three main business segments: pharmaceutical homecare, providing services to patients that require long-term infusion to diseases; classical homecare, providing standard enteral nutrition solutions as well as selected standard medical devices; and ophthalmic injectables. Founder Dr. Clemens Künzer will retain a substantial shareholding in the Company. The broad and experienced management team led going forward by Rainer Schmitz as CEO, Michael Schmitz as CSO and Claudia Vitiello as COO will also become shareholders and invest alongside Dr. Künzer and IK. APOSAN is headquartered in Cologne, Germany, and serves over 10,000 patients per year.

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American Securities to acquire Chromaflo Technologies from Arsenal Capital Partners and Nordic Capital

Nordic Capital Logo

American Securities LLC, Arsenal Capital Partners, and Nordic Capital Fund VI today announced that American Securities has partnered with management and signed a definitive agreement to acquire Chromaflo Technologies Corp. (“Chromaflo” or the “Company”), a leading producer of proprietary, high-performance colorants and chemical dispersions, from Arsenal Capital Partners and Nordic Capital. The transaction is expected to close in November 2016 and is subject to customary closing conditions and regulatory approvals. Financial terms of the transaction were not disclosed.

Headquartered in Ashtabula, Ohio, Chromaflo is a leading independent global supplier of colorant systems, chemical and pigment dispersions. With more than eight decades of industry experience in colorant systems and chemical pigment dispersions, the Company’s family of brands includes more than 200 product lines and 7,000 products, serving customers across six continents.

Scott Becker, President and CEO of Chromaflo, said, “We look forward to partnering with American Securities. They are ideally positioned to support our next phase of growth and development as we look to expand our product offerings, geographies, and market reach. American Securities has significant experience in the specialty chemical sector and a broad and experienced team, which will aid in our expansion. We look forward to working with them as we continue to focus on providing highly technical colorant and chemical solutions to our customers and markets.”

Scott M. Wolff, a Managing Director of American Securities, commented, “We believe that Chromaflo’s commitment to product innovation, combined with its experienced and customer-focused management team, positions the Company for continued growth. We look forward to bringing our resources to bear to support Scott Becker and the rest of Chromaflo’s management team toward continued success.”

John Televantos, a Partner who co-heads Arsenal’s Specialty Industrials practice, said, “Through its organic growth and strategic acquisitions, Chromaflo has become the leading global innovator and supplier of colorants and chemical dispersions with broad technologies serving the coatings and thermoset plastics markets.”

Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds, added, “Nordic Capital Fund VI is proud of the transformation of Chromaflo into a leading global player and has been very pleased with the partnership with Scott Becker and his management team for executing the Company’s growth and acquisition strategy.”

About Chromaflo Technologies
Chromaflo Technologies is a leading independent global supplier of colorant systems, chemical and pigment dispersions, serving customers in architectural and industrial coatings as well as the thermoset composites market. Headquartered in Ashtabula, Ohio, U.S., Chromaflo has production facilities in the U.S., Canada, The Netherlands, Finland, Australia, China and South Africa. Sales and technical support is also provided throughout North and South America, Europe, Australia, China, India and Southeast Asia. Commitment to excellence is driven by three core values: quality, speed and service.
Discover more at www.chromaflo.com.

About American Securities LLC
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200
million to $2 billion and/or $50 million to $200 million of EBITDA. American Securities and its affiliates have approximately $15 billion under management.
www.american-securities.com

About Arsenal Capital Partners
Arsenal Capital Partners is a leading New York-based private equity firm that invests in middle market specialty industrial and healthcare companies. Arsenal makes investments in sectors where the firm has significant prior knowledge and experience. Arsenal targets businesses that have the potential for further value creation, and works closely with management to accelerate growth by leveraging the firm’s industry focus and operational improvement capabilities. Arsenal currently manages $2.9 billion of committed equity capital. For additional information on Arsenal Capital Partners, please visit www.arsenalcapital.com.

About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. Nordic Capital currently has EUR 10.5 bn in assets under management. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com.

Contact Information

For Chromaflo Technologies, please contact:
Scott Becker
President and Chief Executive Officer
+1-440-536-9696
sbecker@chromaflo.com

For American Securities, please contact:
Amy Harsch
+1-212-476-8071
aharsch@american-securities.com

For Arsenal Capital Partners, please contact:
Chris Tofalli
Chris Tofalli Public Relations, LLC
+1-914-834-4334
chris@tofallipr.com

For Nordic Capital, please contact:
Katarina Janerud, Communication Manager
NC Advisory AB, advisor to the Nordic Capital Funds
+46 8 440 50 50
katarina.janerud@nordiccapital.com

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