Tag Archives: Logistics

Stonepeak Acquires Fleet Companies

Stonepeak

NEW YORK – November 18, 2024 – Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that it has acquired Fleet Companies (“Fleet”), a leading regional trailer dealership and leasing company.

Fleet Companies serves a variety of both blue chip customers and other transportation companies with an integrated offering across trailer dealership, leasing, drop yard, and maintenance operations. Headquartered in Memphis, Tennessee with additional operations in Nashville, Tennessee and Dallas, Texas, the company sits at the nexus of several of the fastest growing transportation hubs in the country. Fleet will serve as the seed asset for a multi-faceted national trailer platform that Stonepeak plans to build out through additional acquisitions and greenfield operations across the U.S.

The investment follows Stonepeak’s long-held thesis around and extensive experience in transportation-focused asset leasing businesses, including TRAC Intermodal (marine chassis leasing) and Textainer (container leasing), along with Air Transport Services Group (aircraft leasing), which Stonepeak entered definitive documentation to acquire earlier this month. “We view trailer leasing as an attractive sector and a strong fit for our investment strategy, given its essentiality to the transport supply chain, durable industry growth, and history of delivering solid returns on assets throughout economic cycles,” said James Wyper, Senior Managing Director and Head of Transportation & Logistics at Stonepeak.

“Fleet is a high-quality operator with strong customer relationships,” added Graham Brown, Managing Director at Stonepeak. “We have full confidence in John Wilbur and Erek Starnes, two industry veterans with whom we are partnering to grow this platform, and are optimistic about Fleet’s ability to continue to grow and deliver for its customers.”

John Wilbur, Chief Executive Officer, and Erek Starnes, President and Chief Operating Officer of Fleet, added, “We are excited to partner with Stonepeak and tap into their deep industry expertise, operational support, and broad capital base. We look forward to prioritizing our customers’ experience by expanding our fleet, upgrading our systems and leveraging our highly experienced team. This transaction positions us well to become an industry leader with a hyper focus on customer satisfaction. We look forward to working with the Stonepeak team to take Fleet into a new chapter of growth.”

Terms of the transaction were not disclosed, and the transaction has already closed. Sidley Austin LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to Stonepeak. Jefferies served as financial advisor to Stonepeak. Evans Petree served as legal counsel to Fleet.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $70 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include digital infrastructure, energy and energy transition, transport and logistics, and real estate. Stonepeak is headquartered in New York with offices in Houston, London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, and Abu Dhabi. For more information, please visit www.stonepeak.com.

About Fleet Companies

Fleet Companies is a leading regional trailer dealership and leasing company headquartered in Memphis, Tennessee with additional operations in Nashville, Tennessee and Dallas, Texas. For more information, please visit www.fleetequip.com.

Contacts
Kate Beers / Maya Brounstein
corporatecomms@stonepeak.com
+1 (646) 540-5225

 

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Accent Equity-owned TSG acquires AF Shipping, expanding presence in northern Sweden

Accent Equity

  • ThorSvecon Group (TSG) expands into northern Sweden with the acquisition of AF Shipping, based in Umeå
  • This acquisition allows TSG Global Forwarding to strengthen its market position along Sweden’s east coast, offering a comprehensive product portfolio from Oskarshamn in the south to Skellefteå in the north
  • AF Shipping’s founder has re-invested alongside Accent Equity and TSG management

TSG Global Forwarding, part of TSG, has expanded its operations to northern Sweden through the acquisition of AF Shipping, a leading provider of ship and port agency services based in Umeå. Founded in 2002, AF Shipping specializes in ship agency, port agency, and freight forwarding services, with a strong presence in Umeå, Skellefteå, and other key northern Swedish ports.

“The acquisition of AF Shipping is a strategic step in our plan to reinforce our presence in northern Sweden. With AF Shipping now part of TSG, we gain a local foothold in the region’s major ports, enabling us to offer our full range of services, from Oskarshamn to Skellefteå,” said Daniel Berglind, Head of TSG Global Forwarding.

 

Fredrik Lyrenäs, CEO and co-founder of AF Shipping, expressed enthusiasm about joining the TSG Group: “Becoming part of TSG is an exciting milestone for us. We’re now aligned with a company deeply committed to providing locally rooted logistics and transport solutions in a global market. This partnership will allow us to offer our existing clients an enhanced and broader service offering. TSG is the perfect fit for us, as we share a strong entrepreneurial spirit and a customer-first approach.”

 

Looking ahead, Daniel Berglind sees significant opportunities for continued growth: “There’s great potential as we move forward, both through organic growth and strategic acquisitions. This acquisition marks another step in our commitment to expanding our business and delivering enhanced value to our customers.”

For more information, please contact:

Mikael Strand, Associate Partner of Accent Equity, +46 70 542 50 01,
mikael.strand@accentequity.se

Eric Hjalmarsson, CEO ThorSvecon Group, +46 70 331 71 22,
eric.hjalmarsson@tsg.se

Daniel Berglind, Head of TSG Global Forwarding, +46 70 591 41 65,
daniel.berglind@tsg.se

About ThorSvecon Group:
ThorSvecon Group is a logistics company offering door to door sustainable solutions integrating short sea liner services, terminals, warehousing, forwarding and agency services. The group’s short sea liner service is calling ports in Sweden, UK, Netherlands, and Belgium. In the UK, the group operates a port terminal in the port of Hull.
www.tsg.se

About AF Shipping:
AF Shipping was established in 2002 and is based in Umeå. Offered services range from shipping agency and port forwarding to complete logistic solutions including storage handling and land transportations for most type of goods including bulk cargo, general cargo, forest products, and heavy-lift projects. The company is primarily active in the ports of Umeå and Skellefteå.
www.afshipping.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
Follow Accent Equity on LinkedIn

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CDPQ increases its stake in Saputo Inc.

Cdpq

CDPQ, a global investment group, today announced an additional investment of approximately $378 million in Saputo Inc. (TSE: SAP), a world leader in the processing, production, marketing and distribution of dairy products.

CDPQ’s stake in the company now totals approximatively 4.5%, following the acquisition of 13.5 million shares at a price of $27.96 per share. CDPQ’s first stake in Saputo dates back to 1997.

Founded in Montréal in 1954, Saputo is now one of the top ten dairy processors in the world. The Québec company produces and distributes a wide range of dairy products in Canada, Australia and Argentina, among other countries. Saputo is also one of the three largest cheese manufacturers in the United States, and the largest manufacturer of branded cheese and dairy spreads in the United Kingdom.

“CDPQ is proud to continue supporting Saputo, a leading Québec company, by increasing its stake in this world leader in dairy processing,” said Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. “We’ve been a shareholder of the company for nearly 30 years, and this investment aligns with our strategy to foster the emergence of North American and international champions while generating benefits for Québec.”

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ’s net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

– 30 –

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DKV Mobility continues its long-term growth strategy under family ownership and ends successful partnership with CVC

CVC Capital Partners
  • DKV Mobility, provider of international mobility services and for decades one of the leading companies in the mobility industry, now fully family-owned again
  • After a five-year partnership, the Fischer family repurchases the 20 percent minority stake from CVC
  • CVC, one of the world’s largest private equity firms with expertise in international investments and capital markets, acquired the shares in the fast-growing company in 2019 and, in line with the Fischer family, has since supported the management in further accelerating the growth trajectory
  • During this time the company has significantly increased its product and service offering and strengthened the positive development of business performance
  • DKV Mobility, which now has more than 2,500 employees, will continue to pursue its long-term growth strategy and, with the Fischer family as sole shareholder, implement new ideas and impetus for greater efficiency and sustainability for its customers

The Fischer family, who has been shareholder of the company since 1959, has reached an agreement with CVC to repurchase the 20 percent stake from funds under the management of CVC. CVC funds acquired this stake in the middle of 2019 and since then has worked closely with the Fischer family and the company’s management to further grow the company.

Jan Fischer, Majority Shareholder and Chairman of the Administrative Board of DKV Mobility, says: “We have built on the great potential DKV Mobility always had as a leading European mobility platform and made our company even more dynamic and competitive in recent years. I would like to thank our partner CVC, with whom we have further professionalized and internationalized the company together with the management. We are now looking forward to continuing the successful growth course in family ownership with investments and new ideas.”

DKV Mobility is a leading B2B platform for on-the-road payments and solutions, serving over 374,000 truck and fleet customers in more than 50 countries. Over the past few years, DKV Mobility broadened its product and service offerings and enhanced customer focus and satisfaction. In 2023, the company generated a transaction volume of €17 billion and revenue of €714 million. This was achieved by focusing not only on core business growth but also by exploring new business areas with targeted innovations and digital solutions. This included further international expansion through strategic acquisitions.

Quotes

The DKV Mobility investment is a showcase of how private equity, even from a minority position, can serve as a change agent while preserving the values and unique culture of a family-owned business.

Stefan MoosmannSenior Managing Director at CVC

Stefan Moosmann, Senior Managing Director at CVC, comments: “Since our entry in 2019, we have worked closely with the management and the Fischer family to transform DKV Mobility into an even stronger business and strengthen its market leading position. Today, DKV Mobility is a fast growing, scaled and digitally sophisticated organisation. The DKV Mobility investment is a showcase of how private equity, even from a minority position, can serve as a change agent while preserving the values and unique culture of a family-owned business.”

Both partners have agreed to maintain confidentiality regarding the details of the transaction. UniCredit supported the Fischer family as sole underwriter of the acquisition financing and as M&A adviser.

For three generations, the Fischer family has stood for the long-term success and special social responsibility of the company for its employees and customers. “Our purpose remains unchanged: To drive the transition towards an efficient and sustainable future of mobility,” said Jan Fischer, Chairman of the Administrative Board.

With the departure of CVC, its representatives are leaving the Administrative Board of DKV Mobility. Jan Fischer, Chairman of the Administrative Board: “I thank Mr. Dr. Alexander Dibelius, Mr. Dr. Daniel Pindur, and Mr. Stefan Moosmann for the successful collaboration over the past years.” New to the Administrative Board as independent members with immediate effect are Petra Ehmann and Frauke Heistermann. Petra Ehmann is an internationally experienced expert in innovation and technology. Among other roles, she is Group Chief Innovation and AI Officer at Ringier and a member of the Board of Directors at Bossard. Frauke Heistermann has many years of experience as an entrepreneur, Supervisory Board member and investor in the fields of IT, digitalisation and corporate management. She is currently Managing Partner of AXIT.capital GmbH and a member of the Supervisory/Advisory Boards of, amongst others, MDAX company BEFESA and Vahle.

For more information, visit: www.dkv-mobility.com.

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Accent Equity-owned Malte Månson has completed the acquisition of Skandinaviska Buss & Truck

Accent Equity

  • Malte Månson expands to northern Sweden through the acquisition of Skandinaviska Buss & Truck AB (SBTAB)
  • The acquisition adds three strategically located workshops to the network, bringing the total to 30 workshops across Sweden following the transaction
  • SBTAB’s founders and key management has re-invested alongside Accent Equity and Malte Månson management

Malte Månson expands its operations to northern Sweden by acquiring Skandinaviska Buss & Truck AB (SBTAB), with workshops in Söderhamn, Sundsvall and Edsbyn. SBTAB is authorized to service Mercedes-Benz trucks and vans, VDL buses, and EVO buses.

The workshops in Söderhamn and Sundsvall are renowned for their excellent service and have received numerous awards and recognition over the years for high quality and availability.

The Söderhamn workshop offers service and repair for Mercedes trucks, vans and passenger cars, as well as multi-brand services for trucks, trailers, buses, and construction machinery.

In Sundsvall, SBTAB offers not only sales and service of Mercedes’ truck programs but also multi-brand truck service, service for heavy-duty transport refrigeration, and specializes in trailer repairs.

“I am very excited about having Morgan Parment and Samuel Andersson and all the employees, who have built the excellent operations of SBTAB, on the Malte Månson team. I am impressed by the high customer satisfaction SBTAB have achieved, owing to their skillful and knowledgeable staff. SBTAB is perfectly aligned with the way Malte Månson operates, and I am certain that this transaction will strengthen our group further”, says Staffan Lindewald, CEO of Malte Månson.

The owners of SBTAB will remain in their current roles and have chosen to reinvest a significant portion of the purchase price in Malte Månson:

“We are very pleased to join Malte Månson and are making a substantial reinvestment as part of the transaction. We look forward to becoming a part of the group and contributing to the continued growth and development of the chain”, says Samuel Andersson, CEO of SBTAB.

 

“We have taken SBTAB to a new level in a short period of time and I am proud of what the team has accomplished. The transaction will further strengthen us and provides an opportunity to accelerate expansion. Shared values with a focus on customer satisfaction and personnel were key when selecting a new growth partner. We are really looking forward to the journey together with the Malte Månson team”, says Morgan Parment, site manager in Sundsvall and co-owner of SBTAB.

Following the transaction, Malte Månson will have 30 workshops across the country with an annual turnover of approximately 800 million SEK.

For additional information, please contact:

Mikael Strand, Chairman Malte Månson, +46 70 542 50 01,
mikael.strand@accentequity.se

Staffan Lindewald, CEO Malte Månsson, +46 70 829 91 21, staffan.lindewald@maltemanson.com

About Malte Månson:
Malte Månson is the largest independent service and repair provider of commercial vehicles in Sweden. The company’s history dates back to 1918 and it currently operates 18 workshops across the country with c. 180 employees. In 2023 the company generated sales of c. SEK 415 million.
www.maltemanson.com

About Skandinaviska Buss & Truck:
Skandinaviska Buss & Truck AB (SBTAB) is authorized for service & repair of Mercedes-Benz trucks and vans, VDL buses, and EVO buses. The company operates three workshops and employs c. 40 people. It is the largest workshop of its kind in Norrland. In 2023 the company generated sales of c. SEK 190 million.
www.sbtab.se

About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
Follow Accent Equity on LinkedIn

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CVC DIF agrees to combine S-P-S International and CTC Moyson Airport Equipment with HiSERV to create European leader

CVC Capital Partners
  • CTC Moyson Airport Equipment is a motorised ground service equipment specialist supporting the Belgium and Western Europe markets
  • S-P-S International is a non-motorised equipment specialist with a fleet across the Benelux and Europe
  • The two businesses will become part of the HiSERV platform and will together form one of the largest airport ground service equipment (GSE) providers in Europe
  • CVC DIF will look to facilitate further growth across the wider European market

CVC DIF, the infrastructure strategy of leading global private markets manager CVC, has agreed the acquisitions of CTC Moyson Airport Equipment (CTC Moyson) from the Moyson family and S-P-S International (SPS) from Strikwerda Investments and management. The investments in SPS and CTC Moyson will be made through CIF III, CVC DIF’s latest Value Add infrastructure fund.

Combining SPS, CTC Moyson and HiSERV will create one of the largest GSE leasing and service providers in Europe. With nearly 12,000 GSE units at 30 airports, the combination delivers a full-scale product and services offering. The platform will be branded HiSERV and led by CEO Roland Ueckert. Current CEOs Paul Schmitz of SPS and Tom Moyson of CTC Moyson will reinvest and continue as part of the leadership team.

SPS International is based in the Netherlands and provides leasing and maintenance services primarily at Schiphol airport. The company focuses on design, manufacturing, maintenance and leasing of non-motorised GSE.

CTC Moyson is a full-service GSE lessor with a strong presence in Belgium. The company services its loyal customers with leasing and maintenance, predominantly in motorised GSE, through three workshops at key Belgian airports.

“HiSERV, SPS International and CTC Moyson are united by the desire to offer customers high-quality products and innovative services. Becoming part of the HiSERV platform puts us in a position to even better serve our customers across Europe. I am very much looking forward to our exciting future together.”, said Tom Moyson, CEO of CTC Moyson. Paul Schmitz, CEO of SPS, added: “The GSE market is evolving rapidly. By joining forces with HiSERV and CTC Moyson, we can better capitalise on emerging opportunities.”

“With CTC Moyson and S-P-S, we join forces with two excellent companies that have been offering first-class quality for years, making them an ideal fit with HiSERV. Further growth is foreseen, and we are on track to becoming Europe’s market leader. I am personally delighted to collaborate with the exceptional individuals, Tom Moyson and Paul Schmitz, and their teams.” said Roland Ueckert CEO of HiSERV.

Quotes

We are convinced that by establishing a pan-European leader in GSE leasing we will be able to service the aviation ground service market with an improved offering.

Willem Jansonius,Partner and Head of CIF Investments at CVC DIF

Willem Jansonius, Partner and Head of CIF Investments at CVC DIF, commented: “We are convinced that by establishing a pan-European leader in GSE leasing we will be able to service the aviation ground service market with an improved offering. We have identified clear synergies and significant growth opportunities ahead and look forward to growing the platform.”

The transactions are expected to close in Q4 2024.

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KKR-Mirastar Acquires Portfolio of Five Prime Logistics assets across the UK from PLP

KKR

London, 3 September 2024 – KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have completed the off-market acquisition of a prime UK logistics portfolio from PLP, totalling 890,364 square feet across five assets. The portfolio is currently 80% let, with a weighted average lease term to break of 10 years. The assets provide best-in-class specifications, including BREEAM Very Good certifications and EPC A+ ratings.

The five assets are strategically located in the North-West of England and Yorkshire. Respectively across Salford, Liverpool, Crewe, Sheffield and Smithywood, the assets are in close proximity to major population centres and all excellently located near key transport infrastructure and motorways.

Over the last eight years, the assets were developed, owned and managed by PLP and its flagship investment vehicle, the PLP UK Logistics Venture 1, which is owned by majority investor Ivanhoé Cambridge alongside The Peel Group, Macquarie Asset Management and PLP senior management.

Ekaterina Avdonina, CEO and Co-Founder at Mirastar, said: “This impressive portfolio follows our careful approach to asset selection across Europe as we look to aggregate well-specified assets in key logistics locations. The North-West and North of England have performed strongly in the recent years, and we expect this trend to continue as we enter an exciting stage of the UK real estate market cycle.”

Seb D’Avanzo, Managing Director and Head of Acquisitions for Real Estate in Europe at KKR, added: “We are delighted to expand our portfolio with this strategic acquisition, reinforcing our commitment to investing in prime logistics assets across key European markets. This addition in the UK aligns with our focus on high-quality, well-located properties that meet the evolving demands of the market. As we continue to scale our presence across Europe, we are dedicated to unlocking value through assets that combine strong fundamentals with sustainability and growth potential.”

Neil Dickinson, Chief Investment Officer at PLP, said: “PLP are pleased to announce the sale of five assets from its leading UK logistics portfolio to crystallise attractive risk-adjusted returns for our capital partners. PLP continues to leverage third party institutional capital across its flagship managed venture series and a number of separate managed accounts to acquire and develop the next generation of prime logistics assets across major UK markets. The sale of this portfolio to a high-quality counterparty such as KKR and Mirastar, demonstrates the continued institutional investor demand for our market-leading product.”

The acquisition builds on KKR-Mirastar’s series of strategic moves in European logistics across both Core+ and value-add strategies since 2023. This includes the purchase of a high-quality logistics property in Hanover, Germany, marking their first industrial acquisition in Germany under KKR’s Core+ Real Estate strategy, their acquisition of a prime logistics park in Warrington, UK, the funding of a 550k sq ft big box logistics development in Widnes, UK, and the acquisition of a last-mile logistics asset in Stockholm, Sweden, their first acquisition in the Nordics.

KKR and Mirastar were advised by DTRE. PLP were advised by CBRE.

— Ends —

About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises over 30 senior real estate professionals and has offices in London, Amsterdam, Stockholm and Milan. The team at Mirastar have deployed over €20bn of capital across key European markets and have built and constructed in excess of 4.0m sqm of logistics assets collectively.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About PLP

PLP is a specialist developer, manager and owner of UK logistics real estate.

Established in 2015, PLP is a specialist UK logistics and industrial property business. The full service platform develops, manages and owns prime-grade UK logistics real estate with in-house management expertise across all key capabilities including acquisitions and sourcing, development, leasing and asset management. The PLP platform is owned by Ivanhoé Cambridge, Macquarie Asset Management, The Peel Group and its senior management team. Find out more: www.plproperty.com 

Media Contacts
KKR/ Mirastar
FGS Global
Alastair Elwen / Jack Shelley
KKR-Lon@FGSGlobal.com
Tel: +44 (0) 20 7251 3801

PLP
Laura Knight, Head of Marketing
Email: lknight@plproperty.com
Tel: +44 (0)20 3687 1077

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KKR Acquires Portfolio of Six Class A Industrial Warehouses Across the U.S.

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has acquired a portfolio of six well-located, Class A industrial logistics properties in major U.S. Gateway and Sunbelt markets for approximately $377 million.

The six modern industrial properties possess an average vintage of 2014 and feature 35-foot average clear heights. The warehouses feature other state of the art characteristics making them highly relevant for the ever-evolving needs of today’s logistics tenancy. The portfolio is 100% leased to a high-quality tenant mix. The assets are strategically located in infill submarkets across several major markets, including Seattle, Atlanta, Philadelphia, New Jersey and the San Francisco Bay Area.

“We are excited to purchase these six well positioned properties as we continue to grow our national portfolio of well-diversified, carefully selected industrial assets,” said Ben Brudney, a Managing Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “We think high quality assets in infill locations near diverse demand drivers and accommodative labor forces will be increasingly difficult to reproduce in the coming years.”

The purchase follows KKR’s recent industrial warehouse investments in Nashville, Dallas and Houston. The addition of this approximately two million square foot (SF) portfolio brings KKR’s total warehouse acquisitions in the U.S. to nearly six million SF since the start of the year. KKR is making this investment through capital accounts advised by KKR.

KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Managing $75 billion in assets as of June 30, 2024, KKR’s more than 150 dedicated real estate investment and asset management professionals across 16 offices apply the capabilities and knowledge of KKR’s global platform to deliver outcomes for clients and investors.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media
Miles Radcliffe-Trenner
media@kkr.com

Source: KKR

 

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Apollo and Vale Enter Into Joint Venture Partnership Related to the Vale Oman Distribution Center

Apollo logo

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced a definitive agreement under which Apollo-managed affiliates, funds and other long-term investors will invest $600 million to acquire a 50% interest in a joint venture entity related to the Vale Oman Distribution Center (“VODC”) from Vale S.A. (“Vale” or the “Company”).

VODC operates a maritime terminal in Sohar, Oman, with a large deep-water jetty and an integrated iron ore blending and distribution center with a nominal capacity of 40 Mtpy. Vale will continue to own 100% of Vale Oman Pelletizing Company.

Apollo Partner Jamshid Ehsani said, “We are pleased to provide a bespoke, cost-effective capital solution to an affiliate of one of Latin America’s leading companies, building on the strong momentum of our corporate solutions business. VODC operates at the heart of one of the world’s busiest trade routes and the transaction is another example of Apollo’s ability to finance critical supply chain infrastructure. This investment also further demonstrates our ability to provide our clients with differentiated access to high grade securities.”

The transaction is expected to close in the second half of 2024 and is subject to customary regulatory approvals.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2024, Apollo had approximately $696 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn

Global Head of Investor Relations

Apollo Global Management, Inc.

(212) 822-0540

IR@apollo.com

Joanna Rose

Global Head of Corporate Communications

Apollo Global Management, Inc.

(212) 822-0491

communications@apollo.com

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Apollo Funds to Acquire Evri, a Leading UK Parcel Delivery Company, from Advent International

Apollo logo

EW YORK, July 25, 2024 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that Apollo-managed funds (the “Apollo Funds”) have entered into a definitive agreement with Advent International to acquire Evri, one of the UK’s largest parcel delivery companies.

Since relaunching as Evri in 2022, the company has grown to become a key leader in parcel delivery, with a strong national network purpose-built for third-party e-commerce parcels and a differentiated last-mile delivery model. Today, Evri reaches nearly every household in the UK and, on average, serves more than 12 million customers per week.

Apollo Private Equity Partner Alex van Hoek said, “Evri has built an enviable position in parcel delivery, with an innovative model, technology and infrastructure purpose-built for reliable, lower emissions delivery in the fast-growing e-commerce market. We are delighted to partner with Martijn and the management team to support and invest in Evri’s continued success and expansion as an Apollo fund portfolio company.”

Evri CEO Martijn de Lange said, “We are incredibly proud of the transformative changes that have enabled Evri to efficiently scale while maintaining our focus on on-time delivery and an environmentally responsible model. We want to thank the team at Advent for their partnership over the past five years and providing the business with a strong foundation for continued expansion. In this next chapter we are excited to partner with the Apollo team to execute on the compelling growth opportunities we see ahead.”

“There is strong momentum in Evri’s business and we are excited to leverage our capital and experience in logistics and transportation to serve as value-add partners in this next phase,” added Apollo’s Michael Saffer.

Apollo’s private equity business has a long track record spanning more than 30 years and significant experience in the transportation and logistics space.

The Evri transaction is expected to close in the third quarter of 2024. Financial terms are not disclosed. Sidley Austin LLP is serving as legal counsel to the Apollo Funds.

About Apollo
Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of March 31, 2024, Apollo had approximately $671 billion of assets under management. To learn more, please visit www.apollo.com.

Contacts

Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com / EuropeanMedia@apollo.com

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