On 11 December 2018, Quimper AB (a company that has been or will be indirectly invested in by CVC Funds) (“Quimper”)¹, announced a public cash offer to the shareholders in Ahlsell AB (publ) (“Ahlsell” or the “Company”) to tender all their shares in Ahlsell to Quimper (the “Offer”). The offer document regarding the Offer was made public on 19 December 2018.

The shares tendered in the Offer at the end of the initial acceptance period on 11 February 2019, together with the shares already held or otherwise controlled by Quimper, and closely related parties, amount to in aggregate 403,296,725 shares in Ahlsell, corresponding to approximately 93.9 percent² of the share capital and the voting rights in Ahlsell.

Quimper hereby announces that all conditions for completion of the Offer have been fulfilled. Accordingly, the Offer is declared unconditional in all respects and Quimper will complete the acquisition of the shares tendered in the Offer. Settlement for shares tendered in the Offer during the initial acceptance period will take place in accordance with previously communicated plan, i.e. around 19 February 2019.

To provide the remaining shareholders of Ahlsell who have not tendered their shares time to accept the Offer, the acceptance period will be open beyond the end of the initial acceptance period, until 27 February 2019 at 15.00 (CET). Settlement for shares tendered in the Offer during the additional acceptance period is expected to start around 7 March 2019. Quimper reserves the right to further extend the acceptance period for the Offer.

Prior to announcement of the Offer, Quimper, and closely related parties, held in aggregate 109,578,323 shares in Ahlsell, corresponding to approximately 25.1 percent³ of the share capital and the voting rights in Ahlsell. At the end of the initial acceptance period on 11 February 2019, the Offer had been accepted by shareholders representing in total 293,718,402 shares in Ahlsell, corresponding to approximately 68.4 percent⁴ of the share capital and the voting rights in Ahlsell.

Quimper does not hold any financial instruments that give financial exposure to Ahlsell shares and has not acquired any such shares or financial instruments outside the Offer.

Quimper will initiate compulsory acquisition of the remaining shares in Ahlsell as well as promote a delisting of Ahlsell’s shares from Nasdaq Stockholm.

^{1 Quimper is a newly formed entity that has been or will be indirectly invested in by funds or vehicles (“CVC Funds”) advised by CVC Advisers Company (Luxembourg) S.à r.l. and/or its affiliates. “CVC” means CVC Advisers Company (Luxembourg) S.à r.l. and its affiliates, together with CVC Capital Partners SICAV-FIS S.A. and each of its subsidiaries.}

^{2 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.}

^{3 Based on all 436,302,187 outstanding shares in Ahlsell, including the 7,000,000 shares which are held by Ahlsell in treasury.}

^{4 Based on all 436,302,187 outstanding shares in Ahlsell, excluding the 7,000,000 shares which are held by Ahlsell in treasury.}

The firm has announced that it has reached the final close of 541 millions of euros for its latest secondaries Fund, Altamar Global Secondaries IX FCR. The vehicle was launched in 2016 with a 500 millions of euros target, and has closed not far short of reaching its 550 millions of euros hard cap.

2019-02-07

Altor has closed its fifth fund, Altor Fund V. The Fund held a single closing at its hard cap of EUR 2.5 billion after a brief fundraising period, where the Fund was substantially oversubscribed. Altor will continue investing in and developing mid‐market companies in the Nordic region but will also focus on opportunities in the German speaking‐region (DACH). The fund is domiciled in Stockholm, Sweden.

93% of the capital has been committed by existing investors, with only a select group of new investors being invited. The investor base consists mainly of university endowments from the US, charitable foundations, insurance companies and pension funds. Nordic and DACH investors represent 32% of total commitments, with remaining capital being committed by investors mainly from the US, elsewhere in Europe and Middle East.

Altor’s previous funds have generated strong total returns since inception in 2003, with overall gross IRR of 26%. Realized total returns have generated a gross IRR of 35% and a money multiple of 3.7x. Altor has consistently been ranked among the leading Private Equity firms globally based on long-term performance. Altor retains its longstanding ambition to create value and generate superior returns by building world‐class companies.

As with prior funds, the new fund will have a 15-year investment term. Investments will generally be made in private companies with revenues typically in the range of EUR 50 to 500 million. More than 50% of investments have been made in partnerships with founders or corporates. The new fund has, as with its predecessors, a flexible investment mandate, which allows for minority investments in publicly traded companies and distressed debt.

“The past year has been an exciting year for Altor, with several exciting new investments (including FH Gruppen, LRF Konsult, O’Learys, Trioplast, Gnist and KonfiDents), the recent partial realization of Orchid as well as our expansion into DACH through our new Zürich‐office” commented Harald Mix, Partner at Altor. “We have during the period also promoted three new partners and also made a number of senior and junior hires to deepen and strengthen the Altor team.”

Altor Fund V is managed by Altor Fund Manager – an authorized manager under the Alternative Investment Funds Act, regulated by the Swedish Financial Supervisory Authority.

“Demand for Altor Fund V has been extremely strong, with many existing investors increasing the size of their investment as well as significant interest from new investors,” said Laurence Zage, a Managing Director at Monument Group, the private fund placement agent supporting Altor in the fundraising process. “This is testament not only to Altor’s track record of value creation and ability to generate superior returns, but also their trustworthiness and transparency. We are proud to have assisted Altor with each of their previous fundraises in a relationship that dates back more than 15 years.”

For more information:
Harald Mix, Partner Altor: tel +46 8 678 91 00
Tor Krusell, Head of Communications Altor: tel. +46 70 543 8747

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 4.2 billion in roughly 60 companies. The investments have been made in medium sized, predominantly Nordic, companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Byggmax, Carnegie Investment Bank, Dustin, Helly Hansen, Lindorff and SATS ELIXIA. For more information visit altor.com.

Liquid Stock (“Liquid”) today announced the launch of a fully independent, institutionally backed firm providing liquidity to employees and stockholders of privately held companies.  This strategy will align the interests of employees and shareholders by converting option holders into owners, providing companies with an alternative to tender offers and offering employees and shareholders full value for their stock.  Liquid’s team brings together a multi-disciplinary approach of leaders in liquidity solutions, venture capital and private equity investing, to provide liquidity to individual counterparties. Liquid is well-positioned to become the leading source of capital for private companies looking to provide liquidity to their employees through tax efficient, company-wide share purchase programs.

Funds managed by Goldman Sachs Asset Management, Morgan Stanley AIP and Coller Capital have entered into a strategic relationship with Liquid, making substantial capital commitments to Liquid’s fund.

Robert Pitti, Founding Partner of Liquid commented, “Our team brings a long history with a strong track record of collaboratively solving the challenges faced by private companies and their employees, as well as a strong understanding of their businesses.  Our strategic investors provide Liquid the ability to scale immediately to meet the needs of even the largest private companies, as well as a deep understanding of the global markets.”

Harold Hope, Managing Director and Global Head of Goldman Sachs Asset Management’s Vintage Funds commented, “Liquid’s depth of experience, diversity of skills and quality of team uniquely positions them as the liquidity provider of choice for employees and stockholders of privately held companies. As venture-backed companies are staying private for longer, we believe the Liquid offering provides an important liquidity tool for these stakeholders.”

Jeremy Coller, Chief Investment Officer of Coller Capital, said, “This is an innovative product that enhances liquidity options for those who work and invest in privately held businesses. We’re pleased to be partnering with Liquid in this exciting development.”

About Liquid Stock

Liquid Stock, headquartered in San Francisco and Los Angeles, is the first fully independent, institutionally backed firm, providing liquidity to employees and stockholders of privately held companies. Liquid intends to become the leading source of liquidity for employees and investors holding valuable, illiquid assets, and for companies looking to address their employees’ liquidity needs through tax efficient share purchase programs. More information about Liquid can be found at www.liquidstock.com.

Paris, January 24, 2019 – Eurazeo has announced the sale to AXA of its 22% stake in Capzanine,
an independent European management company specializing in private investment.
Since entering Capzanine’s share capital in October 2015, Eurazeo and AXA have helped Capzanine
accelerate its growth in the debt and equity sectors and develop international partnerships.
During this period, Capzanine has significantly expanded its business, increasing assets under
management from €1.1 billion to €2.5 billion.

This transaction is accompanied by the assumption by AXA and other investors of all Eurazeo
commitments in funds managed by Capzanine, excluding an €8 million commitment in Capzanine
Situations Spéciales.

The transaction amount is approximately €82 million. This includes shares in the management
company on which Eurazeo realizes a multiple of just over 3x the initial investment and fund shares
recently subscribed by Eurazeo.
**
About Eurazeo
Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its 225 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg and Madrid.

o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA