Category Archives: News

SealteQ Group finds partner in Quadrum Capital

Quadrum Capital

Stadskanaal/Almelo, 15 February 2024 – SealteQ Group and investment company Quadrum Capital join forces. SealteQ specializes in protecting, strengthening and maintaining concrete and steel structures. The partnership aims to continue SealteQ’s strong growth of recent years. __

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SealteQ, formerly known as Frans Nooren and currently led by Martin van der Leest and Robert Lunenborg, celebrated its 50th anniversary last year. During this period, the company has grown into a leading player in the field of concrete and steel preservation. With approximately 250 specialists and seven offices, high-quality and innovative solutions are provided for technical maintenance challenges both in the Netherlands and abroad. SealteQ operates in various sectors, including infrastructure, energy, industry, civil engineering and residential and commercial construction.

Following the intended participation, the board of SealteQ will exist of Martin van der Leest, Robert Lunenborg and Peter Westra. Together with Quadrum, they will respond to the current challenges in the field of foundation repair and the backlog in maintenance and life extension of crucial infrastructure. The expansion of its geographic presence and the addition of specialistic expertise will be important strategic pillars.

“Quadrum is the perfect partner for us to realize these growth ambitions. Our independently established platform in the specialized maintenance market can be further expanded through this partnership, both domestically and internationally. This partnership represents a solid step to continue the growth of SealteQ. In the partnership with Quadrum, creative entrepreneurship is endorsed in an identical way. This gives confidence in a market that is constantly challenging us,” said Martin van der Leest.

Hedzer Wester, Investment Manager at Quadrum Capital: “The level of craftmanship, innovativeness and entrepreneurship within the company is impressive and have made SealteQ a market leader. We look forward to supporting the company in its growth ambitions and working with Martin, Robert, Peter and the rest of the SealteQ team to take the next steps.”

Financial details of the transaction will not be disclosed. The transaction is subject to approval of the Consumer & Market Authority. The investment in SealteQ will take place from Quadrum Investment Fund IV.

About SealteQ SealteQ protects and preserves civil engineering, infrastructure and industrial structures as well as real estate objects in the residential and utility sectors. With a Dutch focus but with a global perspective, SealteQ extends the life of concrete and steel structures. They achieve this by providing innovative customized solutions with the aim of protecting the structures against external influences. In this way, they are preserved for the future. For more information, go to https://www.sealteq.nl/

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Construction Begins at Blackstone’s New European Headquarters, Expanding London Footprint

Blackstone

Reaffirms Blackstone’s long-term commitment to the UK
Premier office building will align to the highest sustainability credentials
Construction will support ~5,000 jobs, including creating new local jobs and apprenticeships

London, UK – February 15, 2024 – Blackstone (NYSE: BX), the world’s largest alternative asset manager, today celebrated the commencement of construction on its 226,000 sq ft, European headquarters located on the site of the former Lansdowne House in its long-term London home, Berkeley Square.

Attending the formal groundbreaking ceremony was Prime Minister, Rishi Sunak, the US Ambassador to the UK, Jane Hartley and Blackstone Chairman, CEO and Co-Founder Stephen A. Schwarzman.

Blackstone will occupy the premier 226,000 sq ft 10-floor building, which is nearly two thirds larger than its existing office on the square. The development is being led by London commercial property developer, CO—RE, and Stirling Prize-winning architect, AHMM and will support ~5,000 jobs.

The new headquarters reaffirm Blackstone’s long-term commitment to the UK and Europe. The firm doubled headcount in London over the past three years to more than 600 people working across private equity, real estate and private credit amongst its many teams.

Blackstone is one of the UK’s largest investors, having deployed more than £70 billion across over 100 businesses and investments in the past 20 years, supporting over 35,000 jobs across affordable housing, tourism, financial services, life sciences, logistics and more. Investments include Bourne Leisure, Merlin Entertainments, Sage Homes, Autolus Therapeutics and Mileway.

Construction is slated to be completed in 2028. The expanded headquarters will include approximately 14,000 sq ft of ground-floor retail space and redeveloped public areas surrounding the site at the south end of the square.

Today, the Prime Minister Rishi Sunak, US Ambassador Hartley and Mr Schwarzman were joined by the award-winning architects and an engineering apprentice to hear about the innovative sustainable construction method which will ensure the building can be adapted and repurposed for decades to come.

The building is aspiring to BREEAM Outstanding, WELL Platinum, NABERS 5 Star Rating and EPC A sustainability criteria, and will incorporate recycled steel from the original building. It will also feature a biodiverse outdoor terrace and balconies on every floor. Once in operation, it will harness renewable energy through ground-source heat pumps and solar panels.

Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone, said: “This is a great day for Blackstone. We’re proud to be one of the largest foreign investors in the U.K. and I am delighted to celebrate our next phase of growth after more than 20 years at Berkeley Square. Our expanded headquarters at the redeveloped Lansdowne House will be an important part of our story as we continue to build great companies across Europe.”

Prime Minister, Rishi Sunak, said: “Blackstone’s new European headquarters is a vote of confidence in the British economy – proof that our plan is working. We’ve already halved inflation, debt is forecast to fall, and – with the help of Britain’s proud financial sector– we’re on course to grow the economy.”

Bradley Baker, chief executive of CO—RE, said: “Blackstone are providing a huge boost to the London and West End economy through their major investment in Mayfair. At their new headquarters they will enjoy a building that raises the standard of future office design and gives a new sense of place to the historic Berkeley Square. The sustainability credentials and features of the building, including its flexible core to enable future redesign and generous provision of green terraces, will give Blackstone a place to call home for years to come.”

Stephen A. Schwarzman, Chairman, CEO, Co-Founder of Blackstone
Ambassador Jane Hartley, Stephen A. Schwarzman, UK Prime Minister Rishi Sunak

About Blackstone 
Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About CO—RE
CO—RE are central London development experts who form world-class teams to deliver world-class buildings. CO—RE works with property investors to make the most of their existing assets and discover new opportunities. We bring unparalleled experience and vision to the process, maximising the development opportunity at every stage for every client. Over the past 20 years, CO—RE has advised on over 12.5 million sq ft with an investment value of over £10bn. Recent projects include Lansdowne House, 72 Upper Ground, 20 Ropemaker Place, One Fen Court, LSQ London and Bureau at 90 Fetter Lane.  www.co-re.co.uk

Media Contact
Sneha Patel
sneha.patel@blackstone.com
+44 7884 086 362

Notes to Editor
The announcement that Blackstone reached an agreement to establish a newly constructed, purpose-built European headquarters located on Berkeley Square is available here.

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CapMan Real Estate acquires Seminaari school, located in central Hämeenlinna, Finland

Capman

CapMan Real Estate acquires Seminaari school, located in central Hämeenlinna, Finland

The CapMan Nordic Real Estate III fund (CMNRE III) acquires the Kauriala buildings and a plot belonging to the Seminaari school located in Hämeenlinna, Finland, from the University Properties of Finland. The Seminaari school is located in the Kauriala neighbourhood of Hämeenlinna, and it is the largest primary school in Hämeenlinna with approximately 750 pupils. The entire property is under a long-term lease to the City of Hämeenlinna. This investment supports the fund’s strategy very well due to its central location and long-term lease. Amongst other things CapMan Real Estate plans to renovate one of the buildings and improve the energy efficiency and accessibility of the other buildings.

The Seminaari school property in Kauriala consists of eight buildings, all built at different times between 1930 and 1984. The property is leased by the City of Hämeenlinna under a long-term lease. Hämeenlinna is a city of 68,000 inhabitants and in the middle of the main highway from Helsinki to Tampere at c.1 hour drive away from both cities. Most of the buildings have undergone renovations in recent years. One building, originally completed in 1953, is currently undergoing a thorough renovation, which has been agreed upon with the City of Hämeenlinna. CapMan Real Estate will finalise this renovation as well as other already agreed upon investments and repairs. In addition, CapMan Real Estate is planning energy-saving investments, aiming to improve the properties energy class, as well as accessibility related improvement measures. As a result of these improvements CapMan Real Estate will apply for BREEAM In-Use environmental classification of the properties, targeting at least level Very Good.

Attached to the property and as part of the acquired asset is also an unbuilt plot, designated for residential use in the master plan. CapMan Real Estate has agreed with the City of Hämeenlinna to discuss development opportunities for the plot supporting the development of the surrounding area, during this spring.

“We are very pleased with this investment, which fits our fund’s investment strategy well. As the largest primary school in Hämeenlinna and due to its central location, the Seminaari school is a strategically important asset for the city. Our goal is to further develop the property for school use together with the City of Hämeenlinna, in order for the property to serve students and teachers in the area far into the future, something which the long lease agreement provides good basis for,” comments Aleksi Konsti, Investment Director at CapMan Real Estate.

“We are pleased to start this cooperation with CapMan Real Estate. For us it is important to have a good partner taking care of the very good condition of the building related to the services we provide as a city,” says Tarja Majuri, Director of Urban Structure at the city of Hämeenlinna.

”It’s wonderful, that the City of Hämeenlinna gets an active owner as its new landlord. The Seminaari school was no longer in the core of the University Properties of Finland’s real estate strategy which is why we decided to sell the asset. We are pleased that the school will now become part of CapMan Real Estate’s portfolio”, says Sanna Sianoja, CEO at University Properties of Finland.

The investment is the fourteenth of the CapMan Nordic Real Estate III fund, which invests in the Nordic countries. The real estate assets managed by CapMan Real Estate currently amount to approximately EUR 4.2 billion. The real estate investment team employs more than 70 real estate investment professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

For further information, please contact:

Aleksi Konsti, Investment Director, CapMan Real Estate, +358 400 815 123

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

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Codestone bolsters Digital Transformation and Microsoft footprint through third bolt-on with Cloud Business

FPE Capital

 

FPE portfolio company Codestone Group (‘Codestone’) today announced it has acquired Cloud Business, an award-winning business consulting, digital transformation, and IT managed services leader.

Cloud Business builds upon Codestone’s Security, Azure, Modern Workplace and M365 offerings, whilst complementing the Group’s recognized capabilities as #1 mid-market ERP solution partner, and leader in both the Enterprise Performance Management (EPM) and Data & Insights field.

Codestone was FPE’s eighth investment from FPE Fund II in 2021, the firm’s second specialist software and services fund. This third bolt-on further develops Codestone’s accelerated growth and rapid customer base expansion following the acquisitions of Clarivos in May 2022 and DSCallards in November 2022. The Group has trebled its turnover since the FPE investment and now stands at 340 people.

Chris Kay, Investment Director at FPEWe are delighted to welcome Cloud Business to the Codestone Group, and combining the two companies’ leading Microsoft practices across Security, Azure and Modern Workplace within Codestone’s broader Digital Transformation, Data, and Business Application practices. It is a pleasure to work with both the respective management teams, and we are confident that together the two businesses can continue to drive innovation and transformation for their customers

Darryl Sackett, CEO at CodestoneThe addition of Cloud Business’s expertise and wonderful people talent enhances Codestone’s consistently high-quality customer engagement model. We are focused on end-to-end value creation for all customers in all sectors and geographies who are trying to answer the question of how to do more with technology while staying secure. From the Digital Strategy, Edge computing, mission critical infrastructure and all processes that run any modern business, we guide organisations through this increasingly complex landscape. We unlock innovation and free up budget for our customers to reinvest. Cloud Business enables us to do this for more customers in a broader way with a strong cultural fit aligned to our core values.

James Palmer, Chair of Cloud BusinessWith a worldwide footprint, a dedicated team comprising hundreds of skilled experts, and a remarkable three-decade legacy in business technology consulting, Codestone provides Cloud Business a larger platform from which we can leverage our deep proficiency in IT consultancy and transformational services. The new organisation also significantly broadens the core capabilities we will be able to offer both new and existing clients. We are excited by the vision that Darryl and the Codestone leadership team have for the company and are thrilled to be part of the journey.

 

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Blackstone Announces Growth Investment in 7 Brew

Blackstone

New York & Fayetteville, Ark. – February 14, 2024 – Blackstone (NYSE:BX) today announced that Blackstone Growth and affiliated funds (collectively “Blackstone”) have made a growth equity investment in 7 Brew Coffee, the next generation drive-thru beverage business. Blackstone’s investment seeks to help enable 7 Brew to accelerate its already-rapid expansion across the U.S., in collaboration with its premier franchise partners.

Since 7 Brew began operating its first coffee “stand” in Rogers, Arkansas in 2017, the company has been committed to serving custom drinks (more than 20,000 different combinations) while cultivating kindness and joy with every drink. Today, 7 Brew is a leading franchisor recognized as QSR Magazine’s “Breakout Brand of 2023.”

John Davidson, CEO of 7 Brew, said, “We are on a strong growth trajectory thanks to our outstanding team, the Brew Crew, and are so excited to have found in Blackstone a true partner who understands our culture and whose global reach and incredible resources will enable us to reach this next stage of growth. Blackstone brings everything we are looking for to help serve our customers and support our franchisees – industry and market knowledge, franchisee relationships, data science, operations and real estate expertise.”

Todd Hirsch and Katie Storer of Blackstone said, “7 Brew’s impressive growth to date is a testament to its strong team and franchisee partnerships. We are excited to partner with this business that is redefining the out-of-home coffee experience, by marrying a personal, human-centric customer service experience with premium products and exceptional efficiency.”

Brian Cornyn of Blackstone said, “This investment illustrates Blackstone’s thematic focus on investing in strong franchise businesses alongside highly skilled operators. We are proud to bring Blackstone’s experience and global resources to fuel 7 Brew’s next stage of growth.”

Jimmy John Liautaud, Founder of Jimmy John’s Sandwiches, a selling shareholder in this transaction, said “I am truly honored to have had my mentor, the legendary Jamie Coulter, ask me to help launch franchising for this exceptional brand. I am confident that the Brew Crew, management and Blackstone will continue to drive exponential growth.”

Terms of the transaction were not disclosed. Friday, Eldredge & Clark, LLP served as legal counsel to 7 Brew. Simpson Thacher & Bartlett LLP served as legal counsel to Blackstone.

About 7 Brew

7 Brew is a rapidly growing coffee brand that is revolutionizing how customers experience drive-thru coffee service and think about their morning energy boost. 7 Brew serves espresso-based coffee, chillers, teas, infused energy, sodas, and more, all with an extra boost of kindness from their team. The dream of 7 Brew came alive with the first “stand” in Rogers, AR, and its seven original coffees. Now, more than 190 7 Brew stands operate across the country. For more information, visit www.7brew.com and follow 7 Brew on Instagram (@7brewcoffee), TikTok (@7brewcoffee), Facebook (facebook.com/7brewcoffee) and Twitter (@7BrewCoffee).

About Blackstone

Blackstone is the world’s largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies in which we invest. Our more than $1 trillion in assets under management include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

Contacts

For 7 Brew:
ICR for 7 Brew Coffee
7BrewPR@icrinc.com

For Blackstone:
Mariel Seidman-Gati
mariel.seidmangati@blackstone.com
(917) 698-1674

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Perforce to acquire Delphix, adding enterprise data management software to its devops portfolio

Clearlake

Enables seamless data compliance and on-demand data access to support critical secondary use cases

 

MINNEAPOLIS, FEB 14, 2024 – Perforce Software (“Perforce”), a provider of solutions to enterprise teams requiring productivity, visibility, and scale along the development lifecycle that is backed by Francisco Partners and Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), announced today that it has signed a definitive agreement to acquire Delphix (or the “Company”). Delphix’s industry-leading Data Management software platform enables scalable automation, governance, and compliance of enterprise data throughout the application lifecycle. Financial terms of the transaction were not disclosed.

 

“The addition of Delphix to our portfolio adds critical data management capabilities that help enterprise organizations realize an automated and accelerated DevOps pipeline,” said Jim Cassens, CEO of Perforce. “In addition to data automation and compliance, we are also excited to provide our customers with the operational efficiencies and reduced costs afforded by the Delphix platform through lower storage expenditures and footprint. We look forward to working with the Delphix team to continue delivering data management innovation to our customers.”

 

Many enterprise organizations today consider data to be one of their most important assets. The ability to harness, mine and analyze data generated daily is critical to making thoughtful decisions and creating competitive advantages. Delphix supports customers as they look to scale data usage for analytics and testing purposes, while releasing applications up to 200% faster. The Company’s capabilities in data virtualization and data masking allow organizations to more easily spin up, refresh, and tear down private and public cloud-based data environments, enhancing application delivery pipelines.

 

“We founded Delphix over 15 years ago to help companies automate data and accelerate digital transformation. Today, we enable data governance, compliance, and automation across the multicloud for many of the world’s biggest brands,” said Jedidiah Yueh, CEO of Delphix. “As part of Perforce, we will be positioned to continue innovating and help more customers realize the strategic power of our data platform.”

 

The addition of Delphix builds on Perforce’s existing infrastructure automation offering through acceleration of on-demand delivery, self-service test environments, and continuous testing offerings to deliver Shift Left testing with accurate, compliant, and timely test data. With this acquisition, Perforce continues to demonstrate its commitment to provide customers with scaled DevOps solutions that help solve the world’s largest enterprises’ automation challenges.

 

“This strategic acquisition positions Perforce to harness the growing demand for enterprise- scale data management in testing, AI modeling, and analytics,” said Evan Daar, Partner at Francisco Partners, and Sean Courtney, Senior Vice President at Clearlake. “The addition of Delphix further enhances the capabilities Perforce can offer to its valued customers, and we look forward to catalyzing this opportunity to drive continued momentum for the platform.”

 

The acquisition is subject to customary closing conditions and is expected to close in the second quarter of 2024. Centerview Partners acted as exclusive financial adviser to Delphix in connection with the transaction.

About Delphix

Delphix is a leading vendor of test data management software. Delphix’s solutions allow companies to automate data security measures, rapidly deploy test data to developers, and shorten application development cycles. More than 30% of the Fortune 100 companies have transformed their application development with Delphix. To learn more about Delphix and its product offering, visit www.delphix.com

About Perforce

Perforce powers innovation at scale. Perforce solutions future-proof competitive advantage by driving quality, security, compliance, collaboration, and speed – across the technology lifecycle. We bring deep domain and vertical expertise to every customer, so nothing stands in the way of success. Privately held and funded by Clearlake and Francisco Partners, our global footprint spans more than 80 countries and includes over 75% of the Fortune 100. Perforce is trusted by the world’s leading brands to deliver solutions to even the toughest challenges. Accelerate technology delivery, with no shortcuts. Get the Power of Perforce.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch nearly 25 years ago, Francisco Partners has invested in more than 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $75 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore. More information is available at www.clearlake.com

 

Media Contacts

 

PERFORCE

Maxine Ambrose

Ambrose Communications

perforcepr@ambrosecomms.com

FRANCISCO PARTNERS

Whit Clay / Sarah Braunstein

Sloane & Company

wclay@sloanepr.com / sbraunstein@sloanepr.com

CLEARLAKE

Jennifer Hurson

Lambert

jhurson@lambert.com

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EQT Infrastructure and CK Hutchison terminate transaction to form an integrated wholesale mobile and fixed communications company in Italy

eqt

The EQT Infrastructure VI fund (“EQT Infrastructure”) confirms the termination of a transaction announced on 12 May 2023. EQT Infrastructure had agreed to acquire a majority stake in Italy’s largest mobile network from Wind Tre.

EQT Infrastructure and CK Hutchison, Wind Tre’s current owner, have decided to terminate the transaction owing to conditions precedent to closing not being satisfied by an agreed longstop date of 12 February 2024. EQT Infrastructure will continue to explore alternative infrastructure transactions, including with CK Hutchison should the appropriate opportunity arise.

With the termination of this transaction, EQT Infrastructure VI is expected to be 25-30 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size.

Contact
EQT Press Office, press@eqtpartners.com

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Infrastructure VI will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT

EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

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Aurelius Equity Opportunities extends the acceptance period of the public share buyback offer

Aurelius Capital

Grünwald, February 13, 2024 – The general partner of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8, “Company”) has decided in January 2024, based on the resolution of the Company’s Annual General Meeting on 20 September 2023 and with the approval of the Company’s Supervisory Board, to make a Public Share Buyback Offer to the shareholders for up to 6.6 million shares of the Company. The maximum amount of this Public Share Buyback Offer is EUR 80 million.

The corresponding Offer Letter was published on 17 January 2024 on the Company’s website at https://www.aureliusinvest.de/buybackoffer2024.

With reference to the Public Share Buyback Offer, AURELIUS Equity Opportunities SE & Co. KGaA announces that the Acceptance Period of the Public Share Buyback Offer, which originally ran until 13 February 2024, 24:00 (CET), has been extended by two weeks, i.e. up to and including 27 February 2024, 24:00 (CET).

The announcement regarding the extension of the Acceptance Period for the Public Share Buyback offer was published today on the Company’s website at https://www.aureliusinvest.de/aktienrueckerwerb2024. It will also be published subsequently in the Federal Gazette (https://www.bundesanzeiger.de).

The defined purchase price range of EUR 15.36 to EUR 15.26, which is at the maximum permissible upper end of the offer price range, remains unchanged. The upper limit corresponds to the maximum possible repurchase price per share in accordance with the resolution of the Annual General Meeting on 20 September 2023.

Further information on the Public Share Buyback Offer and the correspondingly amended Offer Letter are published on the website of AURELIUS Equity Opportunities SE & Co. KGaA at (https://www.aureliusinvest.de/buybackoffer2024).

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Ardian Clean Energy Evergreen Fund (ACEEF) Invests in Finnish Battery Energy Storage System

Ardian

First investment for Ardian Clean Energy Evergreen Fund in battery energy storage
• Investment and project execution led by Ardian’s Nordic operating platform, eNordic
• Investment forms part of ACEEF’s wider wind power and battery storage strategy in Finland

Ardian, a world leading private investment house, in partnership with its operating platform eNordic, today announces it has taken Final Investment Decision (FID) to build Mertaniemi battery energy storage project, a 38.5MW one hour utility scale battery energy storage system (BESS) in Finland, to support the Finnish power grid.

The investment, made from the Ardian Clean Energy Evergreen Fund (ACEEF), marks the fund’s first investment in the BESS asset class, which is expected to grow significantly in size from 11GWh of installed capacity in Europe today to 75GWh by 2030 according to Bloomberg New Energy Finance.  Ardian assessed the merits of this investment using OPTA, Ardian’s proprietary data analysis platform, which powers revenue and operational strategy across Ardian’s renewable infrastructure portfolio globally.

The project is aligned with the ACEEF strategy in Finland, which aims to acquire and aggregate wind and solar power assets to benefit from economies of scale and to better utilize the grid interconnection points by developing battery storage assets. This follows the acquisition of two wind farms in Finland in 2023, totaling more than 27MW. The strategy is being executed by eNordic, a renewable energy platform developed and wholly owned by Ardian to serve the Nordic region.

Mertaniemi battery energy storage project is a joint venture between ACEEF and Lappeenrannan Energia, a Finnish municipal energy company. It will see the development of a 1-hour 38.5-megawatt energy storage system. The project is due to complete in spring 2025 and is located near the Mertaniemi power plant in Lappeenranta.

In addition to the energy storage system, the project includes the development of facilities to protect the batteries from extreme weather conditions. Once complete, the system will participate in the local grid’s frequency reserve markets and support the balancing of production and consumption in the power grid.

The ACEEF will continue to execute its strategy to grow the platform in Finland, with the acquisition of further wind and battery assets in the region.

More broadly, Ardian’s investment portfolio in renewable energy in the Nordic countries now aggregates to €1.2 bn. It 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, Sweden and Estonia. Recently Ardian announced acquisition of Verne Global, a company who owns  and operates i.a. 3 data centers in Finland; this acquisition is still in the approval process by local authorities.

“The investment in a new battery storage system, which is a first for Ardian’s clean energy evergreen fund, is an essential part of our strategy in Finland. We identified an opportunity to scale Finland’s wind capacity and connect battery storage technology to create a balanced and productive energy system. With our existing strong presence and network in the Nordic countries, and our expertise in financing and operating long-term renewables projects, Ardian is perfectly placed to foster this new market opportunity.” Benjamin Kennedy, Managing Director Renewables Infrastructure, Ardian

“Ardian is dedicated to driving forward the energy transition and helping to scale renewable technology to reduce carbon emissions. Renewable energy is now being generated at an unprecedented rate and building power storage solutions is vital for helping balance supply and demand to the grid, for the creation of a stable modern electricity network. This investment is a significant step towards a more sustainable and reliable energy future in Finland.” Mathias Burghardt, Executive Vice President and Head of Infrastructure, Ardian

“The Nordic energy market is already ahead of the curve regarding the energy transition, largely due to the volume of emerging technological developments.  Mertaniemi battery energy storage project exemplifies eNordic’s position at the forefront of this movement, helping realize the region’s ambition to become a leading player in sustainable energy”. Eero Auranne, CEO of eNordic

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.

Ardian is a pioneer in the energy transition, having started investing in renewable assets in 2007. Across all Infrastructure Funds, the team manages a renewable energy portfolio of more than 8GW of heat and renewable energy capacity in Europe and the Americas, and over $28bn assets under management across the globe.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,560 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 19 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

 

ABOUT ENORDIC

eNordic is the Nordic’s first sustainable energy platform, formed by a partnership between Ardian, a world-leading private investment house, and leading domestic industry executives.
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Arevon and Blackstone Credit & Insurance Close $350 Million Preferred Equity, Debt, and ITC Transfer Financing for Condor Energy Storage Project

Blackstone

Transaction showcases Arevon and Blackstone’s strategic approach to financing clean energy projects through a combination of preferred equity, tax credit transfers, and debt

NEW YORK and SCOTTSDALE, Ariz. (February 13, 2024) – Arevon Energy, Inc., a leading renewable energy developer, owner, and operator, together with Blackstone Credit & Insurance (BXCI), today announced a successful financial close for the 200 megawatt/800 megawatt-hour Condor Energy Storage Project (Condor) currently under construction in Grand Terrace, California.

The project is anticipated to start operations in Q2 2024 and is contracted under a 15-year agreement with Southern California Edison. The project will be capable of providing firming capacity, enhancing grid reliability and stability alongside increased adoption of renewable energy resources. Condor features Megapack 2 XL, Tesla’s utility-scale battery system. Tesla has been contracted to provide O&M services for the project. Rosendin Electric, Inc. is the project’s engineering, procurement, and construction (EPC) contractor. Arevon will own and operate the project on a long-term basis.

Blackstone’s preferred equity investment in Condor is structured to simplify the monetization of tax credits, eliminating the need for traditional tax equity financing.

Zachary Rubenstein, Managing Director in the Blackstone Credit & Insurance Sustainable Resources Group, commented “Arevon is a world-class renewable energy company, and we are excited to be their partner on the Condor financing. Blackstone continues to see tremendous need for large scale financing solutions in the energy transition market, and we look forward to partnering with Arevon on future opportunities.”

The financing includes a commitment from Stifel Financial Corp. to buy investment tax credits and is supported with a $164 million debt facility which was secured with Coordinating Lead Arrangers CoBank ACB, Helaba, and Sumitomo Mitsui Banking Corporation. The Bank of New York Mellon served as Collateral and Administrative Agent. Arevon secured real estate financing from climate investment firm HASI related to the Condor Energy Storage Project land.

Daniel Murphy, Director of Project Finance at Arevon, remarked “Condor represents not only our commitment to developing assets that deliver grid resilience but also our team’s adeptness in navigating complex, hybrid financing arrangements. Along with our partners, we remain focused on pioneering climate finance solutions that promote a sustainable clean energy future.”

“Helaba is very pleased to support Arevon and its Condor battery energy storage project, which we expect to play an important role in California’s ongoing efforts to decarbonize its electric system,” Christian Jagenberg, EVP & General Manager at Helaba New York Branch said.

Stoel Rives represented Arevon as sponsor transaction counsel and CRC-IB served as sponsor tax equity advisors. Milbank LLP served as the preferred equity counsel, and Winston & Strawn LLP served as lender counsel. Monarch Private Capital served as advisor to the tax credit purchaser, with Orrick, Herrington & Sutcliffe LLP as counsel to Monarch, and Paul Hastings served as counsel to the tax credit purchaser.

“We are excited to support a great sponsor like Arevon for a great project like Condor in bringing together innovative financing and collaborative financing partners,” Conor McKenna, Partner & Senior Managing Director at CRC-IB said.

“We appreciate our partnership with Blackstone Credit and Insurance, a leading player in providing efficient solutions in the renewable energy market, along with our other valued partners, who played pivotal roles in navigating the intricacies of this transaction. Together, we have forged a path toward sustainable energy solutions, and we extend our sincere thanks to all involved for their dedication and expertise,” Kevin Smith, Chief Executive Officer at Arevon said.

About Arevon
Arevon Energy, Inc. is a leading renewable energy company, supplying clean energy to utilities and corporations across North America. Headquartered in Scottsdale, Arizona, and New York City, Arevon uses innovative approaches and leading-edge technology to develop, build, finance, own, and operate clean energy projects. Arevon owns and operates more than 3,500 megawatts (MW) of solar, storage, and solar + storage hybrid assets across the country. The company is a renewable energy leader in California with more than 1,900 MW in operation and more than 1,000 MW under construction. Arevon has a robust portfolio of more than 6 gigawatts of projects in development which will enable the company to provide more clean, cost-effective energy to homes and businesses. Its financial strength, innovation, and industry expertise come together to improve the structure and performance of its platform of solar and energy storage power plants. Arevon was named one of Arizona’s Top Workplaces in 2022 and 2023. For more information, please visit: www.arevonenergy.com.

About Blackstone Credit & Insurance Sustainable Resources Group
The Blackstone Credit & Insurance Sustainable Resources Group focuses on providing private credit to the renewable energy, infrastructure, and energy transition marketplace. The Group has approximately 40 investment professionals across North America, Europe, and Asia and invests across the credit spectrum in investment grade credit, non-investment grade credit, preferred and convertible securities. In 2022, Blackstone announced that it sees an opportunity to invest an estimated $100 billion in energy transition and climate change solutions projects over the next decade across its businesses.

Media Contact
Blair Matocha, Director of Communications
Arevon Energy, Inc.
bmatocha@arevonenergy.com
(713) 898-1325

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