Tag Archives: Logistics

EQT and Kühne Holding invest in Flix, the global travel company

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EQT Future and Kühne Holding to acquire a 35% stake in Flix

Investment is part of a long-term strategic partnership built on a common vision for Flix’s next phase of profitable growth across new and existing markets and offerings

EQT is investing through EQT Future, its impact-driven, longer-hold fund, and will support Flix’s ambition to expand the offering of sustainable and affordable travel options

Flix SE (“Flix” or the “Company”), the global travel tech company, and EQT, the global investment organisation, together with Kühne Holding, representing one of the world’s leading logistics entrepreneurs and investors, today announce that a definitive agreement has been reached for EQT Future and Kühne Holding to acquire a 35% minority stake in Flix.

In addition to a primary investment in Flix, EQT Future and Kühne Holding will acquire shares from existing shareholders to build a long-term anchor shareholding in Flix. This investment will further strengthen Flix’s balance sheet and help accelerate the Company’s successful trajectory of profitable growth. The closing of the transaction is subject to certain customary conditions and regulatory approvals.

“We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. Their capital and know-how will be a strong asset to our company’s overall strategic vision. We couldn’t ask for better partners to embark on the next chapter of Flix’s journey”, commented André Schwämmlein, CEO and Co-Founder of Flix.

“EQT Future backs high-quality, growing companies that have the potential to be sustainability leaders in their fields. Flix is the perfect example of this. We are deeply impressed by what Andréand his team have built, having developed Flix from a startup into the clear global market leader, operating in 43 countries,” said Andreas Aschenbrenner, Founding Partner and Deputy Head of the EQT Future advisory team. “For us at EQT, it is always about providing more than capital. We are proud to partner with Kühne Holding, one of the leading transportation and logistics investors, and together with André and his team, we are excited to support Flix’s strategic growth agenda over the long-term. We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation, with huge potential to become a household name in the industry and beyond.”

Dominik de Daniel, CEO Kühne Holding AG, commented: “Flix is driving the next generation of collective transport. The Kühne Holding is proud to actively support them as a strategic partner in their next phase of expansion. Over the past few months, we have established a great relationship with the colleagues of EQT Future. We have great confidence in André Schwämmlein and his team and very much look forward to supporting Flix’s future in a beneficial partnership.”

Karl Gernandt, Chairman Kühne Holding AG, added: “As one of the largest strategic investors in the transport and mobility sector, the Kühne Holding is now taking a further step into the market for collective transport by bus. With Flix’s proven asset-light operating model, we see great synergies with our other investments in the transport sector. Furthermore, we want to support the expansion strategy of their international network. We are building on the great successes that Flix has achieved in establishing the bus as the leading sustainable means of transport – for more than a decade in Europe and now also overseas.”

Driving profitable growth
The investment comes at a time of continued significant growth momentum and strategic expansion at Flix. The company reported 30 percent total revenue growth in 2023 and thus, for the first time, reached EUR 2 billion in annual total revenue. This comes at an increased profitability with adjusted EBITDA of EUR 104 million in 2023. The strong momentum enables Flix to deliver on strategic targets such as the expansion of its global footprint, transforming the North American bus market and further scaling FlixTrain to respond to the rising demand for alternative rail services in Germany.

Expanding the global footprint
To further strengthen its geographical presence, Flix has recently entered two of the most important bus markets worldwide: Chile and India. The company’s global footprint now stretches across 43 countries worldwide. With both FlixBus and FlixTrain, the European expansion is moving forward. FlixBus is significantly expanding its services in UK, Portugal and Ukraine and has launched in Norway and Finland. Flix’s clear ambition is to reach market leadership in these markets.

Advancing the North America business
Flix has been operating in the United States since 2018. In 2021, the company acquired Greyhound Lines, an iconic intercity bus service provider, further expanding its reach, including in Canada and Mexico. The transformation and integration of operations into the Flix platform is well underway and increasingly reflected in a growing asset-light share, driving growth and profitability in the market.

With growth comes responsibility
Flix is on a continuous mission to deliver a great travel experience while constantly reviewing the impact of its business. To underpin the Company’s commitment to a responsible business model, Flix recently published itssecond voluntary ESG report for 2023. With its vision to drive sustainable and affordable travel, Flix aligns strongly with EQT Future’s mission to support market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries.

About

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 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

About Flix
Flix intends to transform the public transport sector by offering sustainable and affordable long-distance bus and train travel solutions in more than 40 countries across four continents. With its asset-light business model and innovative technology platform, Flix, launched in 2013, swiftly established market-leading positions for long-distance bus travel in Europe, North America and Türkiye and is rapidly expanding further into South America and India through its brands FlixBus, FlixTrain, Kamil Koç, and Greyhound.

Driven by increased awareness for sustainable travel, Flix aims to become carbon neutral in Europe by 2040 and globally by 2050. To assess its progress within a scientifically recognized framework, Flix established near-term targets for emissions reduction with the Science Based Targets initiative.

While Flix manages the commercial side of the business such as network planning, pricing, operations control, marketing and sales, quality management and continuous product development with a data-driven approach, trusted Flix partners conduct the daily operations. The innovative combination of Flix’s technology and sales platform with traditional passenger travel has turned a European start-up into a leading and globally expanding travel tech company.

For more information, please visit corporate.flixbus.com

About Kühne Holding
Kühne Holding AG, based in Switzerland, comprises Klaus-Michael Kühne’s business interests. With an entrepreneurial focus on investments in the logistics and transport sector, it holds a majority stake in Kühne+Nagel International AG and is the largest single shareholder of Hapag-Lloyd AG, Deutsche Lufthansa AG and Brenntag SE. In April 2024, the Kühne Holding announced the acquisition of Aenova Group, a globally leading pharma contract development and manufacturing organization.

Contacts
EQT: Press Office, press@eqtpartners.com
Flix: Lara Hesse, globalpress@flixbus.com
Kühne Holding: Dominique Nadelhofer, Dominique.nadelhofer@kuehne-holding.com

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KKR Acquires Park 8Ninety, A 12 Building Class A Industrial Logistics Park In Houston, From Artis REIT

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has completed the acquisition of Park 8Ninety, a 12 building industrial logistics park in Houston, Texas, from Artis Real Estate Investment Trust (“Artis REIT”) for approximately $234 million.

The approximately 1.8 million square-foot (SF) master planned park was completed in phases between 2017 and 2022. The 127-acre property boasts a diverse mix of Class A single-tenant and multi-tenant modern logistics buildings, with clear heights ranging from 24 to 36 feet, catering to a variety of industrial uses. The park is strategically located in southwest Houston with direct access to Beltway 8 and other major interstate transportation routes.

“Park 8Ninety is a great addition to our national logistics portfolio and expands our footprint in Houston which continues to benefit from strong demand fundamentals and comparatively lower supply than many other markets in the United States,” said Ben Brudney, a Managing Director in the Real Estate group at KKR who oversees the firm’s industrial investments in the United States. “Park 8Ninety is a high-quality, well-designed, multi-tenant park with a diverse and staggered rent roll.”

KKR is acquiring the park through the KKR Real Estate Partners Americas III fund and capital accounts advised by KKR. Across its strategies in the U.S., KKR has committed or acquired approximately $7.5 billion of logistics assets in the industrial sector since 2018 and currently owns over 48 million SF of industrial real estate in major U.S. metropolitan areas.

KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Managing $71 billion in assets as of March 31, 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
212-750-8300
media@kkr.com

Source: KKR

 

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KKR And Palm Capital To Acquire Prime Last-Mile Logistics Asset In Denmark

KKR

Investment in freehold logistics asset with strong development potential and asset management initiatives in Greater Copenhagen

STOCKHOLM–(BUSINESS WIRE)– KKR, a leading global investment firm, and Palm Capital, the pan-European real estate private equity specialist today announced the acquisition of a prime last-mile logistics asset in Greater Copenhagen, Denmark, from Catena, the Sweden-based leading logistics developer.

The park comprises 47,000 sqm of warehouse and office space and hosts long-term tenant Nemlig.com, the country’s largest provider of direct-to-consumer online food and grocery delivery. The logistics asset is located in Greater Copenhagen and surrounded by excellent infrastructure, uniquely positioned on the city’s new light rail system, which is due to be completed in 2025. In a supply-constrained industrial real estate market with strong growth potential, the asset offers significant upside with potential for further development, including additional warehouse facilities and various asset management initiatives such as energy and asset improvements together with the tenant.

Alexander Thams, Director and Head of Nordics Real Estate for KKR, said: “We are delighted to announce KKR’s acquisition of this prime last-mile logistics asset, building on our ambitions in Nordic real estate. Copenhagen is a highly competitive market, and it’s rare to find such quality assets in urban locations. The transaction is our second this year in Denmark and follows our recent investments in Finland and Sweden. Industrial and logistic assets remain central to KKR’s overall real estate strategy, particularly given the shortage of supply that has emerged due to the increasing number of industrial to residential conversions.”

Reda Khatim, Managing Partner of Palm Capital, said: “We are excited to strengthen our presence in Scandinavia through this attractive off market acquisition. We are delighted to build upon our successful track record in Copenhagen including through our previous ownership of last mile assets at Copenhagen’s airport. Additionally, this investment in Denmark demonstrates the increased breadth of our high conviction and thematic based investment strategies alongside major institutional partners such as KKR.”

The transaction builds on KKR’s strong track record in industrial real estate across Europe and is another example of KKR’s continued focus on the Nordic region, a key growth market for KKR’s European Real Estate platform. KKR’s recent Nordic Real Estate investments include the acquisition of a high-quality rental residential portfolio in Finland, a Purpose-Built Student Accommodation asset (PBSA) in Copenhagen, and a prime last-mile logistics property in Stockholm.

KKR is making the acquisition through its strategy focused on value-add and opportunistic real estate investments in Western Europe.

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 KKRs 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 Palm Capital

Palm Capital is a leading pan-European real estate investment and asset manager. It is headquartered in London, with local presence in Dublin, Madrid and Munich. Palm Capital currently manages approximately €1.5 billion of commercial real estate in the UK, Ireland and Continental Europe across several high-conviction investment strategies and multiple asset classes.

KKR: UK
Alastair Elwen / Jack Shelley
FGS Global
+44 20 7251 3801
KKR-LON@fgsglobal.com

KKR: Nordics
Ludvig Gauffin
Fogel & Partners
+46 70 222 60 30
kkr@fogelpartners.se

Source: KKR

 

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EQT to acquire Constellation Cold Logistics, the third largest cold storage owner-operator in Europe

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  • Constellation Cold Logistics (“Constellation”) provides temperature-controlled storage infrastructure to a wide-range of food producers via a network of 26 storage facilities across seven countries in Western Europe and the Nordics
  • The Company offers critical food preservation services that are essential to the modern food supply chain, helping to feed the world safely while reducing food waste
  • EQT will support Constellation as it looks to further entrench its market-leading position, execute identified M&A opportunities and deliver major expansion developments within Europe

EQT is pleased to announce that the EQT Infrastructure VI fund (“EQT”) has agreed to acquire Constellation Cold Logistics (“Constellation” or the “Company”) from Arcus Infrastructure Partners. Financial details are not disclosed.

Constellation was established in 2020 by Arcus Infrastructure Partners, which brought together three businesses located in Belgium, Norway and the Netherlands. Just four years later, Constellation today owns and operates 26 large cold storage facilities across seven countries in Western Europe and the Nordics. The London headquartered firm employs 700 people and is expected to generate revenues over EUR 150 million in FY24.

Constellation provides temperature-controlled storage capacity and complementary services to a wide range of food producers, traders and retailers. Its sites are located either close to clients’ production and processing premises or near critical logistics routes to major cities, ports or food hubs. By offering warehousing and value-added services in these strategic locations in an efficient, flexible and responsive manner, Constellation provides a critical service to its customers that ensures their supply and logistics chains remain smooth and safe.

The European cold storage market features strong underlying growth of around seven percent per year, driven by multiple factors. For one, growing populations are leading to a greater demand for food. At the same time, the popularity of frozen and chilled foods is growing as the sector and customers recognize how these categories reduce food waste and improve quality. Producers are also increasingly adopting outsourcing, just-in-case supply chain strategies, and value-added services as the industry matures.

EQT will support Constellation as it works to capture this attractive market opportunity. Led by deeply experienced CEO Carlos Rodriguez, the Company has already proven its ability to successfully execute M&A, having completed ten deals in the past four years. With EQT, Constellation will be able to further expand within its existing catchment areas and enter new countries, both organically and through consolidation of the highly fragmented European market. Additional investment will be made into Constellation’s automation and digital capabilities to solidify a stronger foundation for growth.

Francesco Malvezzi, Managing Director within the EQT Value-Add Infrastructure Advisory Team, said: “Constellation is one of the leading cold storage providers in Europe with an excellent track record of growth, both organically and through M&A. It offers strong diversification across geographies, customers and end-markets and has impressive service offerings, customer focus and facilities. We’re excited to start working with Carlos and the team to help build an even stronger platform for continued growth. With EQT’s expertise in owning infrastructure companies that provide inherent essential services to society, we’ll be able to support Constellation as it works to deliver safe, quality food to people across Europe.”

Carlos Rodriguez, CEO of Constellation, said: “In four short years, Constellation, with support from Arcus, has expanded into one of the largest cold storage players in Europe, enabling our clients to benefit from enhanced accessibility and efficiency in their supply chains. We will maintain an absolute focus on responsiveness and customer service together with our commitment to sustainability on our path to net-zero. We’re excited to continue implementing our 2030 strategic plan with the support of EQT, which brings strong infrastructure experience, global scale, and deep expertise in areas like sustainability and digitalization. I’d like to thank the Arcus team for its dedication to this point but, most of all, I’d like to thank all Constellation’s employees for their hard work and continuous support as the company evolves.”

The transaction is subject to customary conditions and approval. It is expected to close in October 2024.

EQT was advised by UBS (M&A), Roland Berger (commercial), Milbank (legal), PwC (financial, tax).

With this transaction, EQT Infrastructure VI is expected to be 40 – 45 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on target fund size and subject to customary regulatory approvals.

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 242 billion in total assets under management (EUR 132 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

About Constellation Cold Logistics

More info: https://www.constellationcold.com/

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Ardian announces it has entered exclusive negotiations to acquire a majority stake in Alstef Group, alongside the management team, the founders, and Future French Champions

Ardian

Ardian, a world-leading private investment house, today announced it has entered exclusive negotiations to acquire a majority stake in Alstef Group, a leading provider of automated and robotic solutions for the airport, logistics and parcel sorting markets, alongside the Group’s management team and 260 employee shareholders. As part of this transaction, the founders (Pierre Marol and Jean-Luc Thomé) and Future French Champions, the joint venture between Qatar Investment Authority (QIA) and Bpifrance, will also reinvest in the company.

Founded in 1961 and headquartered near Orléans in France, Alstef Group is an established player in the design, integration and supply of equipment and proprietary software for intelligent handling solutions. For over a decade, the Group has experienced double-digit growth and rapid international expansion, supported by the acquisition of Glidepath, an airport-baggage and parcel-handling company in 2020, and parcel sorting company SNS in 2023. The Group has a global presence, with 16 subsidiaries around the world and systems installed in 93 countries. It is one of the world leaders in airport baggage sorting and has a blue-chip customer base in the intralogistics and parcel sorting markets.

Its collaborative approach is well-suited to complex operational environments and modernization projects. Its commitment goes beyond the provision of solutions: All teams are actively involved in design, planning, procurement and innovation to ensure the optimum delivery of its projects with minimal disruption to existing operations or environmental impact.

Alstef Group’s robust business model is based in particular on its asset-light strategy, its ability to maintain critical systems for its customers over the long term, and its presence in three complementary segments: baggage handling, intralogistics and parcel sorting.

Support from Ardian’s Expansion team will enable the company to accelerate its international development and growth ambitions.

“Alstef Group’s outstanding positioning is underpinned by an excellent management team that has consistently delivered a culture of innovation and a customer-focused approach. This ethos is an asset for continuing to develop the business. We look forward to working with the Alstef Group team to expand the group’s presence and continue its growth in its target markets.” Maxime Sequier, Managing Director Expansion, Ardian

“We are delighted to become Alstef Group’s new partner for the next phase of its development. We have every confidence in the management team and will use our expertise and access to the Ardian platform to support the group’s growth.” Arnaud Dufer, Head of Expansion France and Managing Director, Ardian

“We are delighted to welcome Ardian as a majority shareholder to support us in the next stages of our development. This transaction recognizes the expertise we have developed over more than 60 years and the success of the strategy we have implemented at Alstef Group to date. Ardian’s support will help to accelerate a new chapter in our history as we pursue our international growth ambitions.” Pierre Marol, President and Co-founder, Alstef Group

“It is with great determination that we embark on this new stage in our development, and we are confident that this partnership with Ardian will enable us to achieve our objectives quickly and efficiently. The common values we share, including our commitment, trust, know-how and a sustainable and socially conscious approach to our activities, will be the driving force behind our success. This is the beginning of a fruitful and lasting collaboration that will create value for our employees, our customers and our shareholders.” Nicolas Breton, Alstef Group

“We are delighted to continue our partnership with Alstef Group, whose growth we have supported over the past six years, particularly through its international expansion in New Zealand and the United States. With its new shareholder configuration and talented management, we are convinced that the Group will continue the great adventure initiated by its founders, Pierre Marol and Jean-Luc Thomé.” Antoine Emmanuelli, President, Future French Champions

The completion of the transaction is subject to the legal usual conditions and the approval of the relevant regulatory authorities.

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • ALSTEF GROUP: PIERRE MAROL, JEAN-LUC THOMÉ, NICOLAS BRETON, SYLVIE SCHROEDER, LUCILE BERNARD
    • FUTURE FRENCH CHAMPIONS: ANTOINE EMMANUELLI, SANDRA PEZET, JUSTINE HIGELIN
    • EXPANSION, ARDIAN: MAXIME SEQUIER, ARNAUD DUFER, DAVID CAHUZAC, LESLIE PARMAST, VICTOR LESENECAL

  • BUYER ADVISORS

    • M&A ADVISORS: SYCOMORE (TRISTAN DUPONT), EDMOND DE ROTHSCHILD (ARNAUD PETIT, JULIEN DONARIER)
    • M&A LAWYERS: WINSTON (GRINE LAHRECHE, SOPHIE NGUYEN, AUDREY SZULTZ)
    • TAX LAWYERS: WINSTON (THOMAS PULCINI)
    • FINANCING LAWYERS: PAUL HASTINGS (TEREZA COURMONT VLKOVA, OLIVIER VERMEULEN)
    • DUE DILIGENCE STRATEGY: ROLAND BERGER (GABRIEL SCHILLACI, FLORIAN AKNIN)
    • DUE DILIGENCE FINANCE: EY (VICTOR DE FROMONT, BAPTISTE DAL POS)
    • LEGAL, TAX AND EMPLOYMENT: WINSTON (GRINE LAHRECHE, SOPHIE NGUYEN, AUDREY SZULTZ, THOMAS PULCINI, SOPHIE DECHAUMET, CHRISTOPHE MARIE, DIANE TARANTINI)
    • DUE DILIGENCE INSURANCE: FINAXY (DEBORAH HAUCHEMAILLE)
    • DUE DILIGENCE IT & DIGITAL: AKVIZE (MICKAEL MAINDRON)
    • DUE DILIGENCE ESG: WE DON’T NEED ROADS (JEANNE RIVES, NICOLAS BOUCHÉ)

  • SELLERS, COMPANY AND MANAGEMENT ADVISORS

    • M&A ADVISOR – SELLERS, COMPANY, MANAGEMENT: LAZARD (JEAN-PHILIPPE BESCOND, PIERRE OUAKNIN, MAXIME NORDIN)
    • M&A LAWYERS – SELLERS, COMPANY: MCDERMOTT WILL & EMERY (GREGOIRE ANDRIEUX, ANTOINE VERGNAT)
    • M&A LAWYERS – FFC: DE PARDIEU BROCAS MAFFEI (CEDRIC CHANAS, MATHIEU RETIVEAU)
    • M&A LAWYERS – MANAGEMENT: FIDES PARTNERS (NICOLAS MENARD-DURAND, CAMILLE PERRIN) & CAZALS MANZO PICHOT SAINT QUENTIN (XAVIER COLARD, CELINE DE LA ROSA)
    • VENDOR DUE DILIGENCE STRATEGIC – SELLERS, COMPANY: BCG (YVES WETZELSBERGER, BENJAMIN ENTRAYGUES)
    • VENDOR DUE DILIGENCE FINANCING – SELLERS, COMPANY: PWC (ERWAN COLDER, FRANÇOIS HAMAYON)
    • VENDOR DUE DILIGENCE LEGAL, TAX, SOCIAL – SELLERS, COMPANY: PWC (CLAIRE PASCAL OURY, CLAUDIO CARVALHO VICTER, FABIEN RADISIC, DELPHINE LEVY-DITCHI, AURELIE CLUZEL, FANNY MARCHISET)
    • VENDOR DUE DILIGENCE ESG: SELLERS, COMPANY: PWC (FRANÇOIS THUEUX, ALICE ROBINEAU)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 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 ALSTEF GROUP

Alstef Group designs, integrates and supports automated turnkey solutions for the airport, intralogistics and parcel markets. Its mission is to create intelligent solutions that not only meet the needs of its customers, but also provide them with the long-term benefits of a tailor-made automated system that is eco-designed, efficient, scalable and innovative.
Alstef Group focuses on developing long-term relationships through close collaboration with its customers and proactively promotes support and maintenance services to ensure the long-term effectiveness and performance of its solutions.
With a local presence in sixteen countries and a wide range of systems installed in 93 countries, Alstef Group has 950 employees. The group generated revenue over €220 million in 2023.

www.alstefgroup.com

ABOUT FUTURE FRENCH CHAMPIONS

Future French Champions is the partnership between Qatar Investment Authority and Bpifrance, initiated in 2014. Its shareholders are:
– Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state’s reserve funds. QIA is one of the largest and most active sovereign wealth funds in the world. QIA invests across a wide range of asset classes and diverse regions, as well as partnering with leading institutions across the globe to develop a global and diversified investment portfolio, with a long-term perspective that can generate sustainable returns and contribute to the prosperity of the State of Qatar.
More information on: www.qia.qa

– Bpifrance: Bpifrance finances companies – at each stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and ETIs are also part of the offer proposed to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, unique and efficient contact person to help them face their challenges.
More information on: www.Bpifrance.fr -https://presse.bpifrance.fr/
Follow us on X (Ex Twitter): @Bpifrance – @BpifrancePresse

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

ALSTEF GROUP

KRISTY HOUSLEY

kristy.housley@alstefgroup.com 

FUTURE FRENCH CHAMPIONS

GEORGINA NIOM

georgina.niom@bpifrance.fr 

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FleetGO Group strengthens its position with the addition of Data2Track

Main Capital Partners

FleetGO Group, a leading provider of logistics software solutions, has acquired Dutch-based software provider Data2Track with the support of Main Capital Partners.

This marks the third strategic acquisition since Main Capital Partners’ initial investment, which resulted in the formation of the FleetGO Group. The integration of Data2Track will enhance FleetGO Group’s product suite and reinforce its technological leadership.

Data2Track, headquartered in Barneveld, Netherlands, has been a pioneer in integrated software solutions since 1995. Their cloud-based fleet management system, encompassing fleet analytics, time registration, and a Drivers App, is essential for optimizing logistical operations. Data2Track’s innovative, fully cloud-based mobile solutions offer a competitive edge in the market. They serve approximately 420 clients, predominantly in the Netherlands, including Verhoeven.eu, Schotpoort Logistics, and Koopman Logistics.

FleetGO Group offers a comprehensive suite of software solutions for transport management, warehousing, route optimization, telematics, and fleet management. With a robust presence in the DACH and Benelux regions, the addition of Data2Track’s cloud-based platform aligns with FleetGO’s strategy to deliver a holistic suite encompassing transport and order management, warehousing, asset management, route planning, telematics, tacho compliance, and fleet management. Notably, Data2Track’s Drivers App complements FleetGO’s offerings, enhancing service capabilities for both existing and new customers.

The combined product offering, shared expertise, broad geographical reach, and technological leadership position FleetGO Group to leverage the benefits of consolidation, economies of scale, technological integration, and growth.

Ronald van Tiel, CEO at FleetGO Group, says: “Data2Track is a perfect addition to FleetGO Group’s product range. The fleet management applications and the Drivers App fill a crucial gap, enabling us to offer a more comprehensive suite from a single provider. Our and Data2Track’s customers will benefit significantly from this enhanced offering.”

Rob Bouwer, Commercial Director at Data2Track, commented: “Joining forces with FleetGO allows Data2Track to advance to the next level. This integration combines two leading software providers, offering substantial potential and enabling us to maximize our capabilities within a larger group. The synergies created will provide significant added value to our customers.”

Sven van Berge, Head of DACH activities at Main Capital Partners, concludes: “The acquisition of Data2Track by FleetGO is a strategic and intelligent move. Data2Track’s solutions will expand FleetGO’s portfolio, closing critical gaps and adding experienced professionals who will strengthen FleetGO’s market position as a leading logistics software provider in Europe.”

The acquisition of Data2Track by FleetGO is a strategic and intelligent move.

– Sven van Berge Henegouwen, Head of DACH activities at Main Capital Partners

About

FleetGO Group

FleetGO Group is a pan-European logistics software company providing an extensive suite for warehouse, transportation, and fleet management. Founded in 2010, FleetGO quickly established a strong market presence with advanced telematics solutions. The company expanded significantly through a strategic combination with Wanko Informationslogistik in 2022. FleetGO’s cloud-based platform serves over 6,500 customers across Europe and is headquartered in Hattem, the Netherlands, with over 170 professionals dedicated to operational efficiency.

Data2Track

Data2Track is a software provider specializing in transport solutions, founded in 1995 and headquartered in Barneveld, the Netherlands. The company offers comprehensive track and trace systems, board computers, and innovative fleet management software. Data2Track is recognized for continuous innovation, including the development of a proprietary Drivers App, serving approximately 420 international customers across various industries.

Fenne Bijl

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AURELIUS Private Equity acquires Dayco’s Propulsion Solutions Business

Aurelius Capital
  • Global carve-out of the leading power transmission system supplier to Commercial & Off-Highway and Light-Vehicle OEMs
  • Quality, customer service and technological know-how drive market position
  • More than USD 450m in revenue, order book above USD 2bn
  • Footprint in North America, Europe and Asia

New York/London/Luxembourg, May 2, 2024 – AURELIUS Private Equity Mid-Market Buyout announces the acquisition of Dayco Propulsion Solutions from Dayco Group, a company backed by financial sponsor Hidden Harbor Capital Partners. The transaction emphasises AURELIUS´ growing focus on North America. Dayco Propulsion Solutions is the leading power transmission system supplier to Commercial Vehicle & Off-Highway (CVOH) and Light Vehicle (LV) Original Equipment Manufacturers (OEMs). The company specialises in manufacturing propulsion systems which manage the belt power transmission system of CVOHs and LVs. Its products are sold to OEMs as well as related aftermarkets.

AURELIUS´ expertise for operational transformation offers Dayco Propulsion Solutions the option to leverage its market-leading position in hybrid systems, helping the company to enter a new phase of profitable growth. With its deployment, the AURELIUS Operational Task Force will advise the management team in unlocking new opportunities and further expanding the business´ position.

Following in the footsteps of the acquisition of LSG Sky Chefs, this marks another transaction with significant US operations, once more confirming AURELIUS’ commitment to the region. With Dayco Propulsion Solutions, AURELIUS Investment Advisory has identified yet another company that had become non-core to its owner, but offers ample operational improvement potential. While countries across the world are imposing ever tighter restrictions on harmful emissions, AURELIUS is convinced that the company´s best-in-class hybrid vehicle solutions can play a key role in solving these industry challenges.

“Dayco Propulsion Solutions underlines our growing focus on North America. We are grateful to be chosen as a trusted partner by Dayco and its shareholder, financial sponsor Hidden Harbor Capital Partners. Looking ahead, we aim to build on the company’s strong positioning in its sector and to drive further growth”, commented Fabian Steger, Managing Director at AURELIUS European Opportunities IV.

With eight manufacturing facilities across the globe, Dayco Propulsion Solutions operates on a global scale and serves as a trusted partner to a range of LV-OEMs, including some of the leading LV & CVOH OEMs in North America. A strong order book in the CVOH segment, bolstered by its close customer relationships and growing portfolio in the hybridized vehicle space, affirms its leading market position and testifies to its significant growth potential.

AURELIUS was advised by Woodward Park Partners (M&A), Berylls (Commercial), BakerMcKenzie (Legal), Deloitte (Accounting), AON (Insurance), HaverMailänder (Anti-trust) and EY (Tax).

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CapMan Buyout exits Havator to BMS Stangeland

Capman

CapMan Buyout exits Havator to BMS Stangeland

Funds managed by CapMan Buyout have agreed to sell Havator Group Oy, a Nordic leader in lifting, special transport and heavy haulage services, to a joint venture owned by the Danish–Norwegian crane operator BMS Group A/S and Stangeland Gruppen AS.

CapMan invested in Havator in 2010 and has since focused on growing the company’s business and position on the Nordic market. Today, the company is a Nordic leader in lifting, special transport and heavy haulage services with a turnover of approximately EUR 100 million and nearly 500 employees.

“I want to thank the leadership and personnel at Havator for the excellent cooperation throughout the years. I am glad the company’s new owners provide such an excellent strategic fit and believe them to enable exciting growth opportunities,” says Anders Björkell, Partner at CapMan Buyout.

“A Nordic consolidation is something our industry has been expecting. The new set-up will allow Havator to leverage an even stronger and broader service offering to its clients and also offer more uniform services to clients operating on a Nordic scale. Joining a pan-Nordic company will also offer our personnel an even more international outlook towards the future, combined with growing opportunities to develop competencies and careers. I am also pleased that our new owner is a true industrial player,” says Hannu Leinonen, CEO of Havator.

“We have always looked at Havator as a great and highly respected crane colleague in the Nordics. We have for quite some years followed Havator closely, so we are very happy that the time was now right to join forces. Havator is – as Stangeland and BMS – a mature company with aligned values and a very loyal and competent workforce. We are therefore looking forward to welcoming the Havator-employees to our crane-family,” says Jens Enggaard, CEO of BMS.

As part of the transaction, the joint venture BMS Stangeland A/S acquires the entire capital stock of Havator from the CapMan Buyout IX Fund and Havator’s other current owners. The closing of the transaction is expected during the spring 2024 and is subject to regulatory approvals and customary closing conditions.

For more information, please contact:

Anders Björkell, Partner, CapMan Buyout, +358 40 537 7566

Hannu Leinonen, CEO, Havator, +358 40 588 7804

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. 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 and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Havator

Havator, established in Finland in 1956, is the Nordic leader in lifting, special transport and heavy haulage services. We operate in Finland, Sweden, Norway and Estonia. Our goal is to be at the forefront of development, to be a leader in developing the operations’ safety and efficiency, without forgetting the industry’s traditions. Havator Group Oy has a turnover of approximately EUR 100 million and employs approximately 500 people. Read more: havator.com

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Ardian signs an agreement with a view to sell Staci to bpostgroup

Ardian

Ardian supported the Group’s international expansion and diversification through an ambitious transformation and development plan.
• Staci is now active in 10 countries, with over 80 logistics hubs in Europe, the United States and Asia.

Ardian, a world-leading private investment house, announced today that it has entered into exclusive discussions with bpostgroup with a view to sell its majority stake in Staci, the European leader in innovative B2B and B2B2C logistics solutions, to bpostgroup. As part of this transaction, Staci’s management would reinvest alongside bpostgroup.

Since its acquisition in 2019, Ardian, alongside Société Générale Capital Partenaires, has supported the Group’s diversification and growth outside of its historical marketing products segment, expanding into B2B logistics and eCommerce to become a multi-channel logistics specialist. The company now benefits from a wide range of expertise, and a high-quality portfolio of national and international customers, across a range of diverse industries including healthcare, cosmetics, energy, in both private and public services.

Founded in 1989, Staci is an independent company that has grown to become one of the European leaders in innovative B2B and B2B2C logistics solutions for companies wishing to outsource all or part of their customer procurement operations. The company has a unique expertise in managing complex and scalable logistics flows, such as dealing with a multitude of suppliers and delivery points, low unit volumes, non-standard formats, and barcoded and non-barcoded products.

With Ardian’s support, and despite the impact of Covid-19, Staci has successfully completed its development plan. The Group’s first transformational acquisition, in the Netherlands in 2021, was an important driver of its sectoral and geographic diversification. In early 2023, another acquisition in the United States enabled Staci to pursue its international expansion, making this region a central part of the Group’s activity. Staci is now operating in 10 countries with over 80 logistics hubs in Europe, the United States and Asia.
Over the past 5 years, Staci has benefited from increased international sales. Its broader sector exposure and market position have increased the company’s resilience and will continue to provide opportunities for the future.

The transaction remains subject to the consultation of the relevant works’ council of Staci group, and to the clearances of the relevant regulatory authorities.

“We would like to thank Thomas Mortier, and all the Staci teams for their commitment throughout our collaboration. It was a real pleasure to work with them on the implementation of an ambitious transformation and development plan. Staci is now a diversified and innovative international player with unique know-how, and we are convinced that the group will continue to grow even more in the coming years.” Lise Fauconnier, Managing Director Buyout, Ardian

“All Staci managers and staff join me in thanking Lise Fauconnier and her team for their unfailing support and trust over the past five years. Together, we have successfully accelerated Staci’s international development and diversification, despite the Covid period. I would also like to extend my warmest thanks to our customers for their loyalty, and to our employees who work hard every day to meet our clients’ needs. The transaction would allow Staci to continue its growth within a solid group that has acknowledged our expertise and the quality of our services, and whose development synergies are highly motivating. It would enable Staci and bpostgroup to combine their strengths and complementarities to offer the best and most innovative multi-channel logistics service.” Thomas Mortier, CEO, Staci

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $164bn of assets on behalf of more than 1,600 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 STACI

Staci is a leading fulfilment and logistics services specialist that offers multichannel logistics and distribution solutions including B2B, D2C and e-commerce to a wide range of industries including beauty & healthcare, telecom, retail, food & beverage, and the public sector. With a unique expertise in multi-client shared warehouses, Staci is capable of implementing custom-made and cost-effective logistic solutions. Thanks to the know-how, the processes, and the experience that the company has developed around fulfilment, pick & pack, shared resources, transport optimization, IT systems and stock financing, Staci is able to offer unique and fully integrated supply chain management solutions.
Staci operates over 80 warehouses spread across Asia, Benelux, France, Germany, Italy, Spain, the Netherlands, the UK, and the USA with 3,500 employees and has recorded €770m sales in 2023.

staci.com

ABOUT SOCIÉTÉ GÉNÉRALE CAPITAL PARTENAIRES

Société Générale Capital Partenaires (SGCP) supports the shareholder-managers of SMEs and ETIs in their development and proximity approach. SGCP takes minority stakes in companies, for amounts ranging from €1 to €35 million, in a variety of contexts: development through external or organic growth, transfer of capital, reorganization of shareholder base, optimization of financial structure. Every year, SGCP’s teams in Paris, Lille, Strasbourg, Lyon, Marseille, Bordeaux and Rennes invest between €150 and €200 million in some twenty transactions, confirming their long-term commitment to financing companies and the economy.

https://capitalpartenaires.societegenerale.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Gresham House Ventures exits logistics and warehousing specialist Master Removers Group for 3.4x money multiple

Gresham House

Gresham House Ventures has exited its stake in logistics, warehousing and removals business Master Removers Group (MRG), via the sale of Bishopsgate, its B2B logistics division, to listed Swedish group Elanders AB (Elanders) and alongside this the sale of its shares in MRG’s domestic removals business to management.

Gresham House Ventures initially invested £7.2mn into MRG via the Mobeus VCTs in 2014. MRG has delivered consistent growth since then, despite various macroeconomic headwinds. The VCTs’ investment has driven both an increase in penetration among Bishopsgate’s existing customers and an expansion of its customer base. The removals business has also grown consistently over this period, expanding geographically through the completion of several astute acquisitions.

The sale of Bishopsgate to Elanders, based on an enterprise value of £47.5mn, has been approved by both the business’s management team and Gresham House Ventures, and will enable Elanders to develop its presence in the UK market while providing long-term continuity for Bishopsgate’s 276 staff. 47 members of staff across both Bishopsgate and MRG’s domestic removals business will also directly benefit from the deal via a generous share ownership scheme that has long rewarded key staff for the continued effective running of the business with regular dividends.

For Gresham House Ventures, the exit delivers a strong return, with an IRR of 26.6% over the nine-year holding period and a money multiple of 3.4x.

The exit continues a busy period of dealmaking for Gresham House Ventures, which recently made a £1.75mn follow-on investment in e-commerce software business Patchworks. This followed a £1.1mn investment into biotech research business Metrion Biosciences, a £1.4mn investment into tailor-made holiday company TravelLocal and a £3mn investment into leading travel technology business Branchspace.

Bob Henry, portfolio director at Gresham House Ventures, said:

“This investment has been a major success story for the Mobeus VCTs and has delivered an outstanding return over a long period. The VCTs’ investment, combined with the strategic vision of the management team and its unerring focus on quality of service, has created long-term shareholder value, which is now being realised. The offer from Elanders is compelling for both Gresham House Ventures and MRG’s management team and will deliver long-term continuity for Bishopsgate’s staff and customers.

Tim Bloch, managing director at Bishopsgate, said:

“Our relationship with Gresham House Ventures has been a major driver of a long period of growth for Master Removers Group and Bishopsgate, and we are grateful for its longstanding support and close guidance over the last nine years. We are aligned in believing that now is the time for Bishopsgate to continue its journey under new ownership and Elanders is ideally positioned to take the business forward over the coming years.”

 

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