3i Group plc (“3i”) announces the sale of ATESTEO, an international drivetrain testing specialist, to IHO Holding GmbH & Co. KG (“IHO Holding”), holding company of the Schaeffler family. Proceeds to 3i are estimated to be €307m subject to closing adjustments, representing a euro money multiple of 4.4x. This compares to a valuation of €207m (£182m) at 30 September 2017.

Founded in 1986 and headquartered in Alsdorf near Aachen, Germany, ATESTEO is the world leader in independent drivetrain testing. It has about 800 employees and 135 testing benches in Germany, Japan, China and North America. Based on cutting-edge testing technology, the company offers a cost efficient alternative to in-house durability testing for automotive OEMs and their suppliers. Its customers include virtually all the leading OEMs and transmission manufacturers.

In 2013, 3i invested in ATESTEO in an all equity deal. Since then, the company has delivered a number of growth initiatives and improvements to its systems and processes, leading to operational and financial out-performance. It has transitioned from a founder-owned business to a world leader in global testing services with a clear competitive advantage in lab-based testing. Its EBITDA has more than doubled, and it has seen a 30% increase in testing capacity. Over the course of 3i’s ownership, the business has been refinanced twice, and has invested €45m in capex for growth.

In 2017, ATESTEO made two strategic acquisitions to expand its testing services portfolio. The acquisition of TÜV SÜD’s Engine/Drivetrain Technology and Components Testing division increased group capacity by 10%, whilst the acquisition of straesser expanded the company’s offering in the field of road testing. ATESTEO has also expanded in the high growth Chinese market, doubling its capacity there since 2013 with an increase in its number of testing benches from 10 to 20.

Ulf von Haacke, Partner & Head of Industrial at 3i Germany, commented:

“During our investment period, ATESTEO has cemented its leading market position in the independent drivetrain testing space and has increased its exposure to hybrid and electric vehicle technologies. Today, the company is well positioned to lead the way in testing the quality of increasingly electrified and autonomous automotive technology. We would like to thank Wolfgang Schmitz and his team for their commitment, and we wish them well in the future.”

Wolfgang Schmitz, Chairman of the Management Board of ATESTEO, added:

“The 3i team has been a huge support in helping us to advance our international expansion and expand our footprint into growth markets such as China. We look forward to working with IHO Holding, who will enable us to further develop our offering and navigate the rapid changes taking place in the sector.”

– ENDS –

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For further information, contact:

3i Group plc
Kathryn van der Kroft
Media enquiries
Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America. For further information, please visit: www.3i.com

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrials and business and technology services industries.

About ATESTEO

ATESTEO GmbH, headquartered in Alsdorf, is the worldwide leading independent service provider for drivetrain testing with about 800 employees and 135 drivetrain testing test benches in Germany and China. Its customers include virtually all automotive and transmission manufacturers. The company offers quality assurance through efficient endurance tests and functional tests of manual and automatic transmissions, differentials, as well as hybrid and electric powertrains.

Croda International Plc, who create, make and sell speciality chemicals for some of the biggest, most successful brands in the world, today announced that it has acquired IonPhasE for €24m. IonPhasE is an innovative technology supplier of static electricity protection products headquartered in Tampere, Finland.

Operating in some of the fastest growing segments within the plastics market, IonPhasE has developed a unique range of anti-static additives that help to prevent damage to electrical components, increase the safety of chemical and food packaging and improve the long term appearance of consumer appliances. Focused on Electrostatic Discharge Protection (ESD) and Inherently Dissipative Polymers (IDPs), IonPhasE’s products use the most advanced technologies in the static electricity protection market, which work to release static electricity in a controlled way.

Maarten Heybroek, President Performance Technologies at Croda said: “This acquisition supports our growth strategy within high technology, consumer driven material markets. We are delighted that IonPhasE is bringing its industry leading knowledge in the rapidly growing market for Electrostatic Discharge Protection to Croda”.

IonPhasE’s products are a natural extension to Croda’s existing product portfolio and, by bringing together the expertise of both research and development teams, Croda will be able to offer a broader and more diverse range of products to its customers through its dedicated global marketing and sales force.

Heybroek continued, “The acquisition of IonPhasE presents a significant opportunity for us at Croda, with its differentiated and patented product range, operating in a niche, high value sector of the polymer market. The experience and knowledge of the IonPhasE management team, coupled with our innovation strength, global sales reach and complimentary technologies, will allow us to better meet the needs of our customers within our Smart Materials sector.”

Claus Carlsen, Chief Executive Officer at IonPhasE said: “For over 15 years, we have focused on developing our technology in response to the needs of our customers. We are looking forward to developing this further with Croda’s support and expertise, whilst being able to reach existing and new customers faster through a higher level of customer intimacy. All of the team here at IonPhasE is excited about our future within Croda.”

Heli Ahlroos, Director at Tesi said: “Tesi has been involved in financing IonPhasE’s growth and internationalisation since 2012. Now that the company has joined forces with a strong industrial player, IonPhasE will have significant resources to accelerate its global growth. We believe this transaction will support the development of IonPhasE’s technology and personnel in Finland well into the future.”

For more information:

Heli Ahlroos, Director, Tesi,
heli.ahlroos@tesi.fi, +358 40 077 2833

Jill Ullathorne, Global Marketing Manager – Polymer Additives
Croda Europe, Cowick Hall, Snaith, Goole, East Yorkshire, DN14 9AA, UK
jill.ullathorne@croda.com

About Croda – www.croda.com
Established in 1925, Croda is the name behind high performance ingredients and technologies in some of the world’s biggest and most successful brands: creating, making and selling speciality chemicals that are relied on by industries and consumers everywhere.
Croda has a network of over 4,200 passionate and committed employees, working together as one global team across manufacturing sites and offices in 36 countries. Croda Polymer Additives is a global business offering speciality additives into a wide range of polymer applications to provide effects such as anti-fog, anti-static, anti-scratch, mold release, pigment dispersion, slip & anti-block, torque release, UV absorption and speciality plasticisers.

About IonPhasE – www.ionphase.fi

Established in 2001, Finnish technology company IonPhasE is a leading manufacturer of static dissipative polymer additives, commonly known as permanent antistatic additives. These additives are used to control static electricity in plastics, which is utilised in wide range of global markets including electronics and semiconductor, chemical, food, automotive and consumer appliances.

About Tesi

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion euros and we have altogether 723 companies in portfolio.
www.tesi.fi | @TesiFII

Investment AB Latour has, through its subsidiary DENSIQ AB, part of Latour Industries, signed an agreement to acquire Hakaser Oy, based in Oulu Finland. Closing will take place with immediate effect.

The acquisition is part of DENSIQ’s strategy to strengthen its position as a supplier of complete solutions within sealing technology as well as to increase the geographical reach in the Nordic countries.

Hakaser is specialized in maintenance and repair of industrial valves for the Finnish process related industries. Hakaser has eight employees and annual sales of approximately EUR 1,4 million.

Krister Seleskog, CEO of DENSIQ AB comments on the acquisition: “With Hakaser we will further strengthen our position as a complete supplier of services, products and engineering within sealing technologies. It will also increase our geographical reach and get us closer to the customer, especially in the northern parts of the region”

“DENSIQ and Hakaser complement each other very well in terms of both range of services and customer focus. With DENSIQ we can continue to expand both our offer as well as our geographical reach”, says Olli-Pekka Keränen current CEO and part owner.

Göteborg, December 19, 2017

INVESTMENT AB LATOUR (PUBL)

Jan Svensson, CEO

For further information, please contact:

Krister Seleskog, CEO DENSIQ AB, +46 720 10 21 40

Maria Elm Olsson, Chairman of the Board in DENSIQ AB, +46 705 08 72 82

DENSIQ AB, with headquarter in Göteborg, has annual sales of almost SEK 150 m and about 60 employees in subsidiaries located in three different countries. DENSIQ AB is part of Latour Industries, which is one of four wholly owned business areas within Investment AB Latour.

Latour Industries AB consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities, which can eventually become new business areas within Latour.

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 ten substantial holdings with a market value of about SEK 47 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 8 billion in 2016.

–Apollo to Support Continued Growth of Premier Steel Mill Services Company–

KENNETT SQUARE, Pa. & NEW YORK–(BUSINESS WIRE)–Dec. 15, 2017– Phoenix Services LLC (“Phoenix” or the “Company”), a premier provider of outsourced slag handling, metal reclamation, and other complementary services to leading steel mill customers around the world, today announced that Apollo Natural Resources Partners II, L.P. (“ANRP II”), a fund managed by affiliates of Apollo Global Management, LLC (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), has agreed to acquire the Company from its existing shareholders, including majority shareholder Olympus Partners. Terms of the transaction were not disclosed.

Phoenix, founded in 2006, is a leading global provider of value-added industrial services to steel mills serving world class customers such as ArcelorMittal, Nucor Steel, and US Steel, among others. The Company has a global workforce of approximately 2,100 employees and operates in 34 locations on four continents.

“We are excited to work with Phoenix Services and its outstanding management team and employees. We have been extremely impressed with the Company’s customer focus, track record of operational excellence, and strong commitment to safety,” said Gareth Turner, Senior Partner at Apollo. “We look forward to leveraging Apollo’s global platform and expertise to support Phoenix’s continued growth and superior customer service.”

About Phoenix Services LLC

Phoenix Services provides responsive world-class service to steel producers around the globe. Core services include slag handling utilizing slag pot carriers or the traditional slag pit digging with front-end loaders; the recovery and sizing of scrap metal to its customer’s specification; and processing slag for use by its steel mill customer or marketing processed slag material for aggregate use.

About　Apollo Global Management, LLC

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong and Shanghai. Apollo had assets under management of approximately $242 billion as of September　30, 2017 in private equity, credit, and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171215005376/en/

Source: Apollo Natural Resources Partners II, L.P.

For investor inquiries regarding Apollo:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
gstein@apollolp.com
or
Apollo Global Management, LLC
Noah Gunn, 212-822-0540
Investor Relations Manager
ngunn@apollolp.com
or
For media inquiries regarding Apollo:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
czehren@rubenstein.com

Segulah V’s portfolio company Sandbäckens acquires Rörproduktion

Sandbäcken’s continues on its expansion strategy with the acquisition of Rörproduktion Sverige AB through its parent company Sandbäcken Utveckling AB.

Rörproduktion is a heating and sanitation contractor founded in 2010 by André Roos. In the past few years, Rörproduktion has successfully grown from 4 to 160 employees, with annual revenues reaching SEK 240 million. The business is active in Norrköping, Linköping, Nyköping, Katrineholm and Stockholm. André Roos will remain in the business as an important co-worker and part-owner, with continued responsibility for developing the business.

This is Sandbäckens’ third strategic acquisition and a part of the Company’s continued expansion plan. Through the acquisition, Sandbäckens further strengthens its position as one of Sweden’s leading heating and sanitation contractors.

“Rörproduktion is a very successful business which has shown stable and profitable growth under the leadership of André Roos. I am convinced that the culture and ambition of Rörproduktion’s organization will contribute strongly to Sandbäckens’ continued development. I look forward to supporting Rörproduktion in its continued growth as an important part of Sandbäckens”, says Håkan Bergqvist, Chairman of Sandbäckens.

About Sandbäckens

Sandbäckens is a leading contractor and service provider in heating, sanitation and sprinkler systems with a growing presence in industrial service. The company was founded in Linköping in 1993 and now has subsidiaries in 23 different locations in Sweden. Sandbäckens is owned by Segulah V L.P., management and directors of the board.

In 2017, Sandbäckens acquired the sprinkler companies Sprincom AB and Mälar Sprinkler AB. With the acquisition of Rörproduktion and the strong organic growth of the combined businesses, Sandbäckens annual revenues will reach SEK 1.2 billion and employ 700 people.

For further information, please visit www.segulah.com or contact:

Håkan Bergqvist, Chairman, Sandbäckens, +46 70 212 32 21

Peter Johansson, CEO, Sandbäckens, +46 70 538 52 39

Percy Calissendorff, Partner, Segulah Advisor AB, +46 73 347 62 81