Category Archives: News

Wendel undertook to tender its 27.8% stake in exceet Group SE into the voluntary public takeover offer announced today

Wendel

White Elephant S.à r.l., a company indirectly controlled by a fund advised by the independent German investment company
Active Ownership Capital, announced today its intention to launch a voluntary public takeover offer(the “Offer”) for the acquisition of all the class A shares of exceet Group SE (“exceet”) for a cash consideration per share in the amount of the volume weighted average domestic stock exchange price of the exceet shares during the past three months prior to this announcement as determined by the German Financial Supervisory Authority.
The Offer will likely be made only subject to a minimum acceptance threshold of 51.0%.
White Elephant S.à r.l further announced having already acquired exceet shares representing approx. 28.26% of the share capital. Wendel (through its affiliate Oranje Nassau) undertook vis-à-vis White Elephant S.à r.l. to tender its entire stake of
5.7 million exceet shares (i.e. approx. 27.8% of the share capital) into the Offer subject to certain conditions and exceptions
in particular in case of a competing offer.
The settlement of this transaction is expected by the end of the year.

Categories: News

Latour acquires shares in Alimak Group

Latour logo

Investment AB Latour has today acquired 14,461,809 shares in Alimak Group for SEK 134 per share, corresponding to a total of SEK 1,938 m. Sellers are Apolus Holding AB whose principal owner is Triton Fund II. The acquired shares corresponds to 26.7 per cent of the votes and equity in Alimak Group. Alimak Group has a world-leading position within vertical access solutions for industry and the construction sector, with customers supported by key mega trends such as urbanization and environmental friendly energy production.

Clarification before reporting of changes in shareholding to Swedish authorities (“Finansinspektionen”)
In order to prevent possible misunderstandings due to the forthcoming reporting of changes in shareholding to Finansinspektionen, Latour want to clarify that the reporting will be made by Investment AB Latour’s principal owner, the Douglas family. The Douglas family already owns 112,526 shares in Alimak Group. The current regulations stipulate that reporting of changes in shareholdings to Finansinspektionen should then be done by the Douglas family and not by Latour, although Investment AB Latour will take the principal ownership in Alimak Group.

The total holding that the Douglas family will report to Finansinspektionen is as follows: The Douglas family 112,526 shares, Investment AB Latour 14,461,809 shares and Latour’s wholly-owned subsidiary Karpalunds Ångbryggeriaktiebolag 40,000 shares.

Göteborg, September 14, 2017

Investment AB Latour (publ)
Jan Svensson, CEO

For further information please contact:
Jan Svensson, CEO Investment AB Latour, +46 705 77 16 40

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 46 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 8 billion in 2

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Majority Share of Blue Bottle Coffee Acquired by Nestlé

Index Ventures

Blue Bottle Coffee today announced that it has reached an agreement to sell a majority stake to Nestlé SA.

Management will hold 32% of the business in a signal that heralds a successful partnership. Blue Bottle Coffee will continue to operate as a stand-alone entity which, founded in 2002, has been committed to sourcing and roasting the world’s best, most sustainable coffees and serving them in their cafes in North America and Japan. Current Blue Bottle leadership stays the same with Bryan Meehan as CEO and James Freeman, Founder, continuing in his role as Chief Product Officer. The company will continue to operate out of its Oakland, California headquarters.

“My goal as CEO has been to secure a sustainable future for Blue Bottle Coffee that would enable it to flourish for many years to come. I’m excited to work with Nestlé to take a long-term approach to becoming a global leader in specialty coffee. We felt a real kinship with the team and knew it was the right move for us,” said Blue Bottle Coffee CEO Bryan Meehan. Blue Bottle Coffee started as a home delivery business, with James Freeman roasting coffee out of a 183-square-foot potting shed. Over its fifteen years in business, the
company experienced a meteoric ascent, growing beyond the Bay Area to New York, Los Angeles, and Tokyo, and putting the concept of third-wave coffee on the map. It distinguished itself in the early days of craft coffee by treating coffee as a seasonal product with a shelf life.

Blue Bottle has a strong track record of growth with 25 new cafes slated for 2017, including cafes in iconic sites like the World Trade Center (forthcoming), and entry into three new markets of Washington, D.C., Miami, and Boston. The company will grow by 70% this year.

The deal enables Blue Bottle to:

  • Grow coffee technologies and continue to break ground in the quest for superlative coffee
  • Expand career opportunities and benefits for its people and cafe teams
  • Open new cafes and roasteries, nationally and internationally
  • Build a robust digital program serving international guests in more countries
  • Expand the product line of consumer packaged goods (currently NOLA cartons,
  • Cold Brew cans, and Blue Bottle’s groundbreaking Perfectly Ground pre-ground coffee) and widen distribution to a global audience

“This move underlines Nestlé’s focus on investing in high-growth categories and acting on consumer trends,” said Nestlé CEO Mark Schneider. “Blue Bottle’s passion for quality coffee and mission-based outlook make for a highly successful brand. Their path to scale is clearly defined and benefits from increasing consumer appreciation for delicious and sustainable coffee.”

Blue Bottle’s commitment to its core values has led to the establishment of the Blue Bottle Coffee Foundation, a donor-advised fund that promotes the values of deliciousness, hospitality, and sustainability through charitable giving. Blue Bottle has consistently given back to communities via employee volunteer programs and donations from new cafe proceeds and the Foundation will now allow for greater giving and participation. Most recently Blue Bottle donated the entirety of proceeds from the opening day of the Georgetown D.C. cafe to the Natural Resources Defense Council (NRDC).

“Fifteen years ago I started this company with the goal of roasting, brewing, and selling superlative coffee,” said founder James Freeman. “Nestlé’s belief in our coffee, our process, and, most importantly, our people, assured us that this is a deal that will enable us to dream longer and further into the future than I previously imagined possible.”

Blue Bottle Coffee is advised by J.P. Morgan Securities LLC and Koenig, Oelsner, Taylor, Schoenfeld & Gaddis PC.

About Blue Bottle
Blue Bottle Coffee was founded by James Freeman in Oakland, California, in 2002. A self-declared coffee lunatic, James hand-roasted beans in a 183 square-foot potting shed and then delivered them to friends from his Peugeot wagon. Blue Bottle is now a small but mighty network of cafes in the Bay Area, Los Angeles, New York, D.C., and
Tokyo. Improbably and delightfully, the company continues to grow, but remains united by the simple purpose of sourcing and roasting the world’s best, most sustainable coffees and serving them at peak deliciousness. To find out more, visit bluebottlecoffee.com.

About Nestlé

Nestlé is the world’s largest food and beverage company. It is present in 191 countries around the world, and its 328,000 employees are committed to Nestlé’s purpose of enhancing quality of life and contributing to a healthier future. Nestlé offers a wide portfolio of products and services for people and their pets throughout their lives. Its more than 2000 brands range from global icons like Nescafé or Nespresso to local favorites like Lean Cuisine. Company performance is driven by its Nutrition, Health and Wellness strategy. Nestlé is based in the Swiss town of Vevey where it was founded more than 150 years ago.

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Verus announces acquisition of interest in the Wytch Farm Oilfield

Verus Petroleum is pleased to announce the signing of a Sale & Purchase Agreement (SPA) for the acquisition of a 33.8% interest in the Wytch Farm oil field from Premier Oil. This acquisition adds approximately 5,000 boepd to Verus’s daily production. The Wytch Farm field is located on the south coast of England.

The transaction will be funded by a combination of equity and debt. Verus’s existing lender Nedbank Limited supports the transaction and the existing Reserves Based Lending (RBL) Facility will be amended to increase the facility amount to USD 300 million and to allow for the participation of several additional banks who are also supportive of the transaction.

Commenting on the deal, Verus’s CEO Alan Curran said:

“Verus is pleased to have signed the SPA with Premier Oil. This transaction builds upon our Boa acquisition earlier this year and materially increases our net production to around 7,000 boepd and reserves to approximately 26mmboe. The transaction is consistent with the Verus strategy of expanding our production base and cash flow. Both Boa and Wytch Farm are high quality, low cost, long life assets with strong cash generation. Verus will look to reinvest this cash flow in further production and development opportunities.”

The transaction is subject to the satisfaction or waiver of a number of conditions including Premier shareholder approval, pre-emption rights of existing joint venture partners and regulatory approvals, and is expected to complete by the end of 2017.

Verus is focused on the creation of value through the acquisition of high quality production assets and, over time, through increased exposure to development projects

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Transaction Update: Bregal Unternehmerkapital supports SHD AG growth

Bregal unternehmerkapital

Andernach-based software specialist SHD AG has partnered with Bregal Unternehmerkapital as a new strategic investor. SHD is a leading developer and vendor of enterprise resource planning (ERP) and graphical planning software for furniture and kitchen retailers. Together with Bregal as new majority owner, the company now plans to further strengthen its market position and expand its European presence. The previous owners (funds advised by Elvaston Capital, and the SHD management team) will continue to retain a stake in the company.

Corporate website SHD AG With this investment, Bregal Unternehmerkapital continues to expand its involvement in the software industry. With SHD, Bregal has once more added an enterprise to its portfolio, whose innovation, technological capabilities and services place it at the forefront of market developments. Founded in 1983, SHD is the market leader for ERP systems for furniture retailers, supporting this industry its transition to the digital future. The company’s products greatly facilitate and accelerate key processes for its customers – in addition to ERP applications, the product portfolio includes intelligent controlling of warehouse logistics in furniture retailing as well as graphical planning and visualisation software for kitchens, bathrooms and interior design. Finally, the SHD product portfolio offers financial and human-resources management software for a wide range of industries.

Bregal Unternehmerkapital aims to support SHD AG with capital, know-how and Bregal’s network of experts as it continues on its path of organic, sustainable development. Suitable acquisitions will also be considered in order to achieve additional scaling and synergy effects, and thus further strengthen SHD’s market position. With the European market currently offering promising conditions, Bregal is looking forward to a fruitful working relationship in this promising field.

Press contact:

IRA WÜLFING KOMMUNIKATION
Dr. Reinhard Saller
Phone: +49 89 2000 30-30
bregal@wuelfing-kommunikation.de

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Ionisos acquires Stermed, a specialist in low-temperature sterilization, with the support of Ardian

Ardian

Dagneux (Rhône-Alpes Auvergne), September 14, 2017 – Ionisos, the leader in cold sterilisation in France and Spain, today announces the acquisition of Stermed, the French sterilisation solutions specialist, with the support of its shareholder Ardian, the independent private investment company.

Based in Civrieux d’Azergues, to the north of Lyon, Stermed specialises in low-temperature sterilisation using ethylene oxide. This highly technical and technological procedure, which requires a number of certifications, has strong growth potential, particularly driven by the medical sector. The company offers subcontracting solutions for the treatment (decontamination and sterilisation) of medical devices (surgical instruments, implants, forceps, specula, etc.) and industrial devices (laboratory equipment). The Stermed site covers 3,200 sq. m. and is equipped with four treatment units, preconditioning chambers, desorption chambers and a microbiological analysis laboratory.

Ardian has accompanied Ionisos in its development since July 2016, most notably through its external growth.

“Only a small number of companies in France currently have expertise in low-temperature sterilisation using ethylene oxide. The acquisition of Stermed reinforces our position in this promising market segment by expanding our geographic reach towards the south of France, the north being already covered by our Gien site,” says Michel Gominet, President of Ionisos.

“We are very familiar with Stermed and its teams, whose know-how is recognised. This merger reinforces our technological and industrial platform. Our geographical proximity to Stermed is also a major advantage,” adds Christoph Herkens, Managing Director of Ionisos.

“We are pleased to be joining the Ionisos group, which will enable us to continue building on our growth together, while benefiting from the Ionisos group’s expertise,” explains Matthieu Reinhardt, head of the Civrieux site.

“Ionisos is pursuing its development plan. This operation fits in perfectly with our targeted acquisition strategy. The company is establishing itself as the main player in consolidation of its market in France and Europe,” concludes François Jerphagnon, Head of the Ardian Expansion team.

ABOUT IONISOS

Ionisos is a French company founded in 1993, which manages seven plants in France, Spain and Germany. Ionisos is a specialist in ionising cold sterilisation using ionisation and ethylene oxide for the medical sector, pharmaceutical products, cosmetics and food packaging. The company is also active in crosslinking of various products used in industry, particularly automotive.

www.ionisos.fr

ABOUT ARDIAN

Ardian, founded in 1996 and led by Dominique Senequier, is an independent private investment company with assets of US$65bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty and entrepreneurship.

Ardian maintains a truly global network, with more than 470 employees working through twelve offices in Paris, London, Frankfurt, Milan, Madrid, Zurich, New York, San Francisco, Beijing, Singapore, Jersey, Luxembourg. The company offers its 610 investors a diversified choice of funds covering the full range of asset classes, including Ardian Funds of Funds (primary, early secondary and secondary), Ardian Private Debt, Ardian Buyout (including Ardian Mid Cap Buyout Europe & North America, Ardian Expansion, Ardian Growth and Ardian Co-Investment), Ardian Infrastructure, Ardian Real Estate and Ardian Mandates.

www.ardian.com

ABOUT STERMED

A specialist for over 20 years in low-temperature sterilisation using ethylene oxide, Stermed offers subcontracting solutions in decontamination and sterilisation adapted to health products and more specifically medical devices. Stermed is based in Civrieux d’Azergues, just outside Lyon, and has four sterilizing chambers of various sizes (4, 10, 16 and 18 pallets).

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Almi Invest invests in SweGan

Almi Invest

Almi Invest invests 1.5 million in Linköping company SweGaN. The company has developed a patented process to produce semiconductor materials, which can be very important in areas such as telecom, which can produce significantly more energy-efficient base stations. The issue of 6 million is also participating private investors.

Almi Invest invests SEK 1.5 million in Linköping company SweGaN. The company has developed a patented process to produce semiconductor materials, which can be very important in areas such as telecom, where it can produce significantly more energy-efficient base stations. In the issue of a total of 6 million is also participating private investors. The money will go to increase Swegans production.

SweGaN sells a material, known as epiwafers coated with gallium nitride, which customers use to develop their own components. The company has developed a unique process for providing superior performance, higher efficiency and lower energy consumption than current methods. This is of great interest in telecom and space industry, where the need for increased bandwidth and lower power consumption is large. Devices based on SweGaNs technologies can reduce energy consumption in a base station with 20 – 30 percent, while the capacity increases 10 to 100 times.

– SweGaNs technology with its superior performance is unique, says Pär Carlshamre, Investment Manager at Almi Invest. It provides a disruptivt materials that can create components that no one has thought about before.

SweGaNs technology can be used in telecommunications, defense and aerospace industries. The company has already paying customers from research and development labs of component manufacturers and universities. SweGaNs strategy is now developing its offering from simply selling their material to even design their own new components.

– This investment enables us to take the next step and purchase your own reactor, which is needed to produce our material, says SweGaNs founder and CEO Olof Kordina. That way we can scale up our business and meet a real need in the market.

 

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Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland

Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland

September 13 2017
Nordic Capital has sold its remaining shares in Tokmanni, the largest general discount retail chain in Finland ImageNordic Capital Fund VII (“Nordic Capital”) has sold all of its remaining shares in Tokmanni Group Corporation (“Tokmanni”). Under Nordic Capital’s ownership, Tokmanni has grown substantially, reinforcing its leadership position in the attractive Finnish general discount retail market.

The remaining shareholding of 15.21 percent was sold on September 12, 2017, and the book-building generated large investor interest with the book multiple times oversubscribed.

“Tokmanni has accelerated its development under Nordic Capital’s ownership. The Company now has a strong track record of growth and profitability, and is flourishing despite a challenging Finnish economy and retail market. Tokmanni has continued the rollout of new stores, invested heavily in its capabilities and procurement whilst maintaining attractive market pricing. Tokmanni is now a strong, profitable, publicly listed company with a robust foundation for future growth,” says Robert Furuhjelm, Partner, NC Advisory Oy, advisor to the Nordic Capital Funds.

During Nordic Capital’s ownership, Tokmanni’s revenues increased from EUR 650 mn (2011) to EUR 776 mn (2016). In the same period, the number of employees grew from 2,900 to 3,200 and Tokmanni opened 18 new stores.

“Since the acquisition in 2012, it has been inspiring to observe the strong customer appeal of the stores, driven by the outstanding execution of the team and manifested by the Company’s faster-than-market growth. The investment in Tokmanni illustrates how Nordic Capital, through its extensive retail experience, selective investment focus, and attention to operational improvements, effectively supports the development of market leaders, even in less than favourable market conditions. We would like to thank the management team and all employees of Tokmanni for all their hard work and collaboration”, continues Robert Furuhjelm.

After tracking the business for several years, Nordic Capital acquired Tokmanni in 2012 under exclusivity. The transaction was enabled by Nordic Capital’s local Finnish presence, knowledge and experience from previous Consumer & Retail investments. A well-prepared rigorous value creation plan was put in place including operational improvements and investment in direct sourcing supported by a Shanghai office which opened in June 2013. There was also significant investment in the store concept and strengthening of the Tokmanni brand, including repositioning from a mixed brand business to a segment-leading retail asset that could support a successful public listing and strong post IPO performance.

In April 2016, Tokmanni was successfully listed on Nasdaq Helsinki at an equity value of approximately EUR 394 million. The successful listing and strong subsequent share price performance reflect the strength of Tokmanni’s business and the significant improvements implemented under Nordic Capital’s ownership.

The Tokmanni shareholding divestment follows a period where Nordic Capital Funds have maintained a high level of transaction activity with twelve successful exits and seven new platform investments since the beginning of 2016. Nordic Capital Funds have a strong record of preparing companies for the public markets.  In addition to Tokmanni, the Funds have listed six portfolio businesses since June 2015. These include ConvaTec Group on the London Stock Exchange, the UK’s biggest IPO of 2016 and the largest European healthcare IPO in more than 20 years. In addition, Nordic Capital Funds have successfully listed air treatment specialist Munters, provider of traffic safety products and services Saferoad, pan European healthcare provider Capio, mixed discount retailer Europris and consumer financing business Resurs, all of which were floated on the Nordic stock markets.

Press contact:

Katarina Janerud, Communications Manager,
NC Advisory AB, advisor to the Nordic Capital Funds
tel: +46 8 440 50 69
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by six advisory companies, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

 

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FSN Capital III divests Vindora to AcadeMedia

Fsn Capital

FSN Capital III has entered into an agreement to divest Vindora to AcadeMedia, Northern Europe´s largest education company.

Vindora is a leading education provider, primarily active in the upper secondary segment, with a market leading position in apprentice based vocational education. Vindora has for almost two decades contributed to society by addressing one of the main challenges, youth unemployment. Vindora’s unique education model, based on a close collaboration with thousands of small and medium sized companies across Sweden, has proven to be highly effective in enabling the students to build relevant work experience and thereby enhance their job placement rate.

Marcus Egelstig, Principal at FSN Capital AB, acting as adviser to the FSN Capital Funds, says:
”We are proud of Vindora’s development during FSN Capital’s close to eight-year ownership period. Under the leadership of CEO Jarl Uggla, Vindora has continuously developed its successful education model and invested heavily in structure and processes to build a solid platform for the long run. To join forces with the industry leader, AcadeMedia, means that Vindora has optimal conditions for continued positive development”.

Please press here to read the AcadeMedia press release.

FSN Capital III was advised by Wigge & Partners, KPMG and ABG Sundal Collier.

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EQT Infrastructure goes East

eqt

With a strong track record of advising on acquisitions and exits in core markets such as Europe and the US, EQT Partners’ Infrastructure investment advisory team is now making its first move into Southeast Asia. The initiative comes as a natural strategic step for EQT as an investment advisor, continuing to explore growth and expansion opportunities across the globe and investment strategies.

A key part of the initiative is the teaming up with Temasek, a Singapore–headquartered investment company. Temasek is one of the most respected and well-recognized institutions in the region, and offers unique opportunities for EQT Infrastructure in terms of market knowledge and local networks. Together, EQT Infrastructure and Temasek will investigate investment opportunities in Southeast Asia, India, Korea, Japan, Australia and New Zealand. The ambition is to identify interesting companies with existing assets within communication, transportation, energy, environmental and social infrastructure with a potential to grow, develop and transform.

“We are now looking to Asia, a region which presents compelling future opportunities for a firm like EQT also in the infrastructure space. The relationship with Temasek will open networks in the pursuit of finding relevant infrastructure assets with strong development potentials. We believe that EQT’s industrial approach and strategy of operational improvements will be compelling features also for Asian infrastructure assets,” comments Lennart Blecher, Head of EQT Real Assets and Deputy Managing Partner at EQT.

Since mid-2017, Director Fabian Gröne has relocated to EQT Partner’s Singapore office from Munich to oversee a gradual expansion of EQT Infrastructure’s investment advisory activities in Asia and work closely with Temasek. Most recently, Fabian worked in the Equity team in Munich and has vast experience from advising on landmark investments within the Equity funds, such as Sivantos, Bureau van Dijk and Apleona.

About Temasek
Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns a SGD 275 billion (USD 197 billion, EUR 184 billion) portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia. Temasek’s portfolio of mainly equities covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; consumer and real estate; life sciences and agribusiness; as well as energy and resources. Its investment activities are guided by four investment themes and the long term trends they represent:

  • Transforming Economies;
  • Growing Middle Income Populations;
  • Deepening Comparative Advantages; and
  • Emerging Champions.

Temasek has delivered a compounded annualized total shareholder return since its inception of 15% in Singapore dollar terms, or 17% in USD terms. Temasek has offices in New York, San Francisco, São Paulo and Mexico City in the Americas; London in Europe; Beijing and Shanghai in China; Mumbai in India; and Hanoi in Vietnam.

For more information about Temasek, please visit www.temasek.com.sg
For the latest Temasek Review, please visit www.temasekreview.com.sg

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