Tag Archives: Logistics

CVC Funds and Emma Capital acquire Packeta, a leading e-commerce logistics and delivery player in Czechia and Slovakia

CVC Capital Partners

CVC has agreed to acquire Packeta Group (“Packeta”), a leading e-commerce logistics and out-of-home delivery player in the Czech Republic and Slovakia through its CVC Capital Partners VIII. CVC Funds will acquire the business in partnership with local investment group EMMA Capital. The transaction is also envisaged to be capitally supported by R2G on closing.

Since its founding in Prague in 2010, Packeta has developed into one of the leading out-of-home logistics players in the Czech Republic and Slovakia, with nation-wide delivery networks and one of the most trusted and recognisable brands in the region. Packeta, through a footprint of more than 9,000 third-party pick-up and drop-off points and more than 6,000 automatic parcel machines, provides comprehensive last-mile e-commerce delivery solutions to a customer base of over 45,000 retailers, as well as straight to consumer home delivery services.

Quotes

Following several investments in Czech headquartered but internationally successful businesses, we are really excited to help further excel Packeta’s expansion.

Jakub ČandaSenior Managing Director

Jakub Čanda, of CVC said: “Following several investments in Czech headquartered but internationally successful businesses, we are really excited to help further excel Packeta’s expansion. As a leading player operating in this growing sector, supported by multiple consumer spending tailwinds, Packeta is very well positioned for further growth in in its core geographies. Looking to the future we see significant opportunity to strengthen this position as well as branch out into new markets and customer services segments.”

István Szőke added: “At CVC we have extensive experience of investing across Central and Eastern Europe helping fast-growing businesses achieve ambitious growth strategies and become more efficient at serving their customers over wider geographies. We are looking forward to working together with EMMA Capital to continue Packeta’s development and expansion, further enhancing the high quality services already provided to their customers.”

EMMA Capital’s Investment Director, Pavel Horák, added: “By combining the investment strength and reputation of CVC with our experience in the industry, Packeta can step up from its current position in Czechia and Slovakia and become a much more meaningful player on the European market.”

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AIT Worldwide Logistics plans to increase global footprint with Lubbers Logistics Group acquisition

AAC Logo

Strategic deal will position AIT as key player in European road transport, energy sectors

ITASCA, IL (Nov. 17, 2023) – AIT Worldwide Logistics, a leading provider of global supply chain solutions, has entered into a binding purchase agreement to acquire Lubbers Logistics Group, a European logistics company specializing in high-value, complex, and time-sensitive transport services. The purchase will serve as a significant milestone for AIT as it continues to expand its global reach and enhance its offerings in the road transport and energy logistics sectors.

Lubbers, headquartered in Schoonebeek, Netherlands, has established itself as a leading provider of top-tier transportation solutions for high-value segments, offering road transport, project cargo and global freight forwarding. With more than 377 employees working across nine road transport hubs and nine freight locations, Lubbers boasts an extensive network of strategically located facilities throughout Europe and beyond.

“Lubbers’ robust one-stop shop approach and their long-standing relationships with industry-leading customers make them an excellent fit for AIT,” said AIT’s Chief Business Officer, Greg Weigel. “We see significant potential for their broad network, growing freight forwarding operations, and energy sector expertise to further enhance AIT’s world-class customer experience. We’re also excited to begin serving the two largest middle-mile markets in the world—the United States and Europe.”

Lubbers’ network will add 18 new offices to AIT’s existing global network of more than 125 locations, while expanding AIT’s footprint to four new countries: Denmark, Norway, Romania and Turkey. Lubbers also has facilities in Germany, Italy and the United Kingdom.

“Joining forces with AIT Worldwide Logistics is a strategic move that will allow us to continue providing exceptional service to our clients while expanding our reach on a global scale,” said Lubbers’ CEO, Gary Roche. “AIT’s strong track record and commitment to customer service align with our values, and we look forward to a bright future together.”

“We are looking forward to welcoming Lubbers to the AIT network,” said AIT’s Chairman and CEO, Vaughn Moore. “This deal will enhance our position in Europe and bolster our presence in the energy sector, allowing us to better serve current customers while creating new opportunities. Lubbers’ customer-centric approach to business, as well as their reputation for excellent quality aligns perfectly with AIT’s culture.”

AIT’s acquisition of Lubbers is expected to be finalized by the end of 2023 and will be subject to obtaining customary regulatory approvals. Terms have not been disclosed.

About AIT Worldwide Logistics
AIT Worldwide Logistics is a global freight forwarder that helps companies grow by expanding access to markets all over the world where they can sell and/or procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT’s flexible business model customizes door-to-door deliveries via sea, air, ground and rail — on time and on budget. With expert teammates staffing more than 125 worldwide locations in Asia, Europe and North America, AIT’s fullservice options also include customs clearance, warehouse management and white glove services.
Learn more at www.aitworldwide.com.

Our Mission
At AIT, we vigorously seek opportunities to earn our customers’ trust by delivering exceptional
worldwide logistics solutions while passionately valuing our co-workers, partners and communities.

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MEDIA CONTACT:
Matt Sanders
Public Relations Manager
+1 (630) 766-8300
msanders@aitworldwide.com

AIT Worldwide Logistics, Inc.
Global Headquarters
2 Pierce Place, Suite 2100
Itasca, IL 60143

800-669-4AIT (4248)
www.aitworldwide.com

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Textainer to be Acquired by Stonepeak for $7.4 Billion

Stonepeak

 

Textainer Shareholders to Receive $50.00 Per Share in Cash

HAMILTON, Bermuda and NEW YORK, October 22, 2023 – Textainer Group Holdings Limited (NYSE: TGH; JSE: TXT) (“Textainer”, “Company”, “we” and “our”), one of the world’s largest lessors of intermodal containers, today announced that it has entered into a definitive agreement to be acquired by Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets. Upon completion of the transaction and the redemption of Textainer’s Series A and B cumulative redeemable perpetual preference shares, Textainer will become a privately held company.

Under the terms of the definitive agreement, which was unanimously approved by the Textainer Board of Directors, Textainer common shareholders will receive $50.00 per share in cash, with the total value of the common shares equaling approximately $2.1 billion. This transaction represents an enterprise value of approximately $7.4 billion. The purchase price represents a premium of approximately 46% over Textainer’s closing share price on October 20, 2023, the last full trading day prior to the transaction announcement. The per share consideration paid to shareholders on the JSE will be in South African Rand at an exchange rate established in accordance with the merger agreement.

“This transaction has been made possible by our strong company foundation reaffirmed over the last several years, which allowed for both substantial capex growth and the strengthening of our business, further driven by our deep customer relationships,” said Olivier Ghesquiere, President and Chief Executive Officer. “By partnering with Stonepeak, we will gain access to investment capital and industry expertise, positioning us for continued growth in the years to come. I would like to especially thank our employees for all they have done to get us to this point and for the part they will play in the years ahead.”

“Textainer has operated since 1979, becoming a publicly traded company in 2007. After 16 years of operating in the public equity markets, we are very excited to start this new chapter as a private company. We’re particularly proud to have delivered a transaction that creates significant and immediate value for our common shareholders,” said Hyman Shwiel, Chairman of the Board of Textainer. “This transaction validates the success of Textainer’s strategy and the positive momentum in the business. With the support of an experienced partner like Stonepeak, we are well positioned to continue delivering high quality equipment and best-in-class service to customers worldwide.”

“Textainer forms a critical link in global trade. The business is underpinned by high-quality assets and contracted cash flows that provide substantial downside protection and resilient through-cycle performance,” said James Wyper, Senior Managing Director at Stonepeak. “These characteristics, along with Textainer’s commitment to customers and disciplined approach to capital expenditure, are what make the Company a leader in the sector. We look forward to working closely with Textainer to help further their strategy and growth.”

Approvals and Timing

The transaction is expected to close in the first quarter of 2024, subject to customary closing conditions, including approval by Textainer shareholders and the receipt of required regulatory clearances and approvals. The transaction is not subject to a financing condition.

The definitive merger agreement includes a 30-day “go-shop” period expiring at 12:01 a.m. Eastern Time on November 22, 2023, which permits Textainer and its financial advisor to continue to actively solicit and consider alternative acquisition proposals. There can be no assurance that this process will result in a superior proposal, and the Company does not intend to disclose developments with respect to the solicitation process unless and until it determines such disclosure is appropriate or is otherwise required.

Following the completion of the transaction, Textainer will continue to be led by its President and CEO, Olivier Ghesquiere, and will continue to be headquartered in Hamilton, Bermuda.

Prior to closing, Textainer intends to maintain its current quarterly dividend on both the Textainer common and preference shares. We currently expect that Textainer’s Series A and B cumulative redeemable perpetual preference shares will be called for redemption at the amount set forth in the applicable certificate of designation for such preference shares no later than 120 days following the closing. Shortly after completion of the transaction, Textainer common shares will no longer be listed on the New York Stock Exchange and Johannesburg Stock Exchange.

Advisors

BofA Securities is serving as financial advisor to Textainer. O’Melveny & Myers LLP is acting as lead legal counsel.

Deutsche Bank is acting as financial advisor to Stonepeak. Simpson Thacher & Bartlett LLP is acting as lead legal counsel.

About Textainer Group Holdings Limited

Textainer has operated since 1979 and is one of the world’s largest lessors of intermodal containers with more than 4 million TEU in our owned and managed fleet. We lease containers to approximately 200 customers, including all of the world’s leading international shipping lines, and other lessees. Our fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials. We also lease tank containers through our relationship with Trifleet Leasing and are a supplier of containers to the U.S. Military. Textainer is one of the largest and most reliable suppliers of new and used containers. In addition to selling older containers from our fleet, we buy older containers from our shipping line customers for trading and resale and we are one of the largest sellers of used containers. Textainer operates via a network of 14 offices and approximately 400 independent depots worldwide. Textainer has a primary listing on the New York Stock Exchange (NYSE: TGH) and a secondary listing on the Johannesburg Stock Exchange (JSE: TXT). Visit www.textainer.com for additional information about Textainer.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 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, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain statements in this press release may constitute “forward-looking statements.” Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual results to differ materially include the following: risks related to the satisfaction or waiver of the conditions to closing the proposed acquisition (including the failure to obtain necessary regulatory approvals and failure to obtain the requisite vote by Textainer’s shareholders) in the anticipated timeframe or at all, including the possibility that the proposed acquisition does not close; the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the definitive merger agreement, including in circumstances requiring Textainer to pay a termination fee; the possibility that competing offers may be made; risks related to the ability to realize the anticipated benefits of the proposed acquisition, including the possibility that the expected benefits from the acquisition will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; continued availability of capital and financing; disruptions in the financial markets; certain restrictions during the pendency of the transaction that may impact Textainer’s ability to pursue certain business opportunities or strategic transactions; risks related to diverting management’s attention from Textainer’s ongoing business operation; negative effects of this announcement or the consummation of the proposed acquisition on the market price of Textainer’s common shares, preference shares and/or operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition, other business effects and uncertainties, including the effects of industry, market, business, economic, political or regulatory conditions; decreases in the demand for leased containers; decreases in market leasing rates for containers; difficulties in re-leasing containers after their initial fixed-term leases; customers’ decisions to buy rather than lease containers; increases in the cost of repairing and storing Textainer’s off-hire containers; Textainer’s dependence on a limited number of customers and suppliers; customer defaults; decreases in the selling prices of used containers; the impact of COVID-19 or future global pandemics on Textainer’s business and financial results; risks resulting from the political and economic policies of the United States and other countries, particularly China, including but not limited to, the impact of trade wars, duties, tariffs or geo-political conflict; risks stemming from the international nature of Textainer’s business, including global and regional economic conditions, including inflation and attempts to control inflation, and geopolitical risks such as the ongoing war in Ukraine and activities in Israel; extensive competition in the container leasing industry and developments thereto; decreases in demand for international trade; disruption to Textainer’s operations from failures of, or attacks on, Textainer’s information technology systems; disruption to Textainer’s operations as a result of natural disasters; compliance with laws and regulations related to economic and trade sanctions, security, anti-terrorism, environmental protection and anti-corruption; the availability and cost of capital; restrictions imposed by the terms of Textainer’s debt agreements; and changes in tax laws in Bermuda, the United States and other countries.

You should carefully consider the foregoing factors and the other risks and uncertainties that affect Textainer’s business described in the “Risk Factors” and “Information Regarding Forward-Looking Statements; Cautionary Language” sections of its Annual Report on Form 20-F and other documents filed from time to time with the U.S. Securities and Exchange Commission (the “SEC”), all of which are available at www.sec.gov. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Textainer assumes no obligation to, and does not intend to, update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. Textainer does not give any assurance that it will achieve its expectations.

Additional Information and Where to Find It

Textainer intends to file a proxy statement for a special meeting of the Textainer shareholders and may also file other relevant documents with the SEC regarding the proposed acquisition. This communication is not a substitute for the proxy statement (when available) or any other document that Textainer may file with the SEC with respect to the proposed transaction. The definitive proxy statement will be mailed or otherwise furnished to Textainer’s shareholders. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT, ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT TEXTAINER AND THE PROPOSED TRANSACTION.

Investors and security holders will be able to obtain copies of these materials (if and when they are available) and other documents containing important information about Textainer and the proposed transaction, once such documents are filed with the SEC free of charge through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by Textainer will be made available free of charge on Textainer’s investor relations website at https://investor.textainer.com/.

No Offer or Solicitation

This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Participants in the Solicitation

Textainer and its directors and certain of its executive officers and other employees may be deemed to be participants in the solicitation of proxies from Textainer’s shareholders in connection with the proposed transaction. Information about Textainer’s directors and executive officers is set forth in Textainer’s Form 20-F, which was filed with the SEC on February 12, 2023. Investors may obtain additional information regarding the interest of such participants by reading the proxy statement and other relevant materials regarding the acquisition to be filed with the SEC in respect of the proposed transaction when they become available. These documents can be obtained free of charge from the sources indicated above in “Additional Information and Where to Find It”.

 

Contacts

Textainer
Investor Relations
+1 415-658-8333
ir@textainer.com

Stonepeak
Kate Beers / Maya Brounstein
Corporate Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100

 

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KKR And Etche Complete The Acquisition Of Over 160,000 Square Meters Of Logistic Properties In France From Ivanhoé Cambridge

KKR

Transaction is KKR’s first in France via its Core+ real estate strategy, and fourth for the strategy in Europe this year following UK, Finland and Sweden acquisitions

 

Paris October 19th, 2023 – KKR and Etche, KKR’s logistics real estate platform in France, today announced the acquisition of the SCOTT logistics portfolio from Ivanhoé Cambridge, comprising five buildings with a total area exceeding 160,000 square meters. These assets, two of which have just been completed, are strategically located in prime logistics zones in the ‘Dorsale’ on the outskirts of Lyon, Grenoble, Orléans, Compiègne and Strasbourg. The buildings are fully occupied by quality anchor tenants on long-term leases.

The acquisition continues Etche’s strategic focus on the logistics sector and is KKR’s first transaction in France through its European Core+ real estate strategy, which focuses on investing in high quality, substantially stabilised assets with medium-term value growth potential.

“The acquisition of this portfolio is a clear demonstration of our ability to swiftly execute significant deals in a challenging market environment, thanks in large part to the reinforcement of our teams with Joffrey Houdoux (Investment Manager) and Julien Chevrier (Chief Administrative and Financial Officer) who joined the firm this year. This strategic portfolio combines strong fundamentals and significant potential for value appreciation, which will allow us to navigate the current period with confidence. It serves as an excellent foundation upon which we can soon aggregate new buildings of similar quality,” said Vincent Lauret, President of Etche.

 

“This first acquisition through our Core+ strategy in France reflects our desire to acquire a quality portfolio for the long term, particularly in the logistics sector. We expect that the sector fundamentals will continue to be very positive for the years to come, particularly given the lack of future supply in France, which should continue to benefit owners of existing, quality assets,” commented Mai-Lan de Marcilly, Managing Director and Head of Transactions France & Hotels at KKR.

 

“This transaction is exemplary of our broader ambition in France and regionally – to invest in high-quality assets in prime locations and with strong fundamentals, and where we have the potential to drive value. The collaboration with Etche in France has created a strong basis for our team to invest behind the themes that we like, particularly logistics which is benefiting from the rise in e-commerce penetration rates and on-shoring of supply chains. We’re delighted to have expanded the portfolio into France and look forward to building further on this,” continued Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR.

 

“We are delighted to have successfully and seamlessly concluded the sale of these five assets from our Hub&Flow logistics platform to KKR-Etche. This transaction is the result of our asset management efforts and enables us to recycle our capital in the logistics market. We remain convinced of the logistics sector’s resilience, and this sector will continue to be a strategic priority for us over the long term through the growth of the Hub&Flow platform in Europe along main logistics corridors,” added Maud Wargny, Senior Director, Investments, Europe, at Ivanhoé Cambridge.

KKR is an active investor in logistics real estate across Europe and has a strong track record of investing across real estate sectors in France. The Etche platform currently owns and operates a portfolio of over fifty logistics and light industrial properties across the country. This latest acquisition builds on the regional expansion of KKR’s Core+ strategy since launching in 2022, following acquisitions in Sweden, Finland and the UK earlier this year across logistics, residential and student housing, and in logistics in the Netherlands last year.

CA-CIB provided funding for the operation through a structured financing arrangement in the form of a green loan.

About Etche

Founded in 2010, Etche is a privately-owned French real estate company. A portfolio company of global investment firm KKR, Etche also carries out asset management assignments on behalf of real estate investors. With a portfolio of around fifty assets across France in the corporate real estate sector (business parks, industrial, and logistics properties), Etche is currently undergoing a strategic shift to prioritise logistics-oriented real estate through divestitures or the acquisition of existing or planned properties. With a strong ESG (Environmental, Social, and Governance) strategy, the company has launched an ambitious decarbonization plan for its portfolio, encouraging its suppliers and employees to identify innovative and more environmentally friendly solutions.

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 and on X @KKR_Co.

 

About Ivanhoé Cambridge

Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.

Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in 1,500 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$77 billion in real estate assets as of December 31, 2022, and is a real estate subsidiary of CDPQ (cdpq.com), a global investment group. For more information:  ivanhoecambridge.com.

MEDIA CONTACTS

ETCHE

Treize Cent Treize

Aurélie Caron / Lou Girault-Solal / Alain N’Dong – +33 1 53 17 97 13 – Presse_Etche@1313.fr

KKR

FGS Global

Alastair Elwen / Sophia Johnston – KKR-Lon@FGSGlobal.com – Tel: +44 (0) 20 7251 3801

IVANHOE CAMBRIDGE

Galivel & Associés

Carol Galivel / Sébastien Matar – + 33 1 41 05 02 02 – galivel@galivel.com

   Thomas Carlat – Ivanhoé Cambridge – +33 6 73 46 00 97 – thomas.carlat@ivanhoecambridge.com

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LOGISTEC Corporation enters into definitive agreement to be acquired by Blue Wolf Capital Partners

LOGISTEC shareholders to receive $67.00 in cash per share pursuant to the transaction

Blue Wolf to maintain head office in Québec with significant investment for future growth initiatives

Montréal, Québec, October 16, 2023 – LOGISTEC Corporation (TSX: LGT.A LGT.B) (“LOGISTEC” or the “Corporation”) today announced that it has entered into an arrangement agreement (the “Arrangement Agreement”) with 1443373 B.C. Unlimited Liability Company (the “Purchaser”), an entity owned by certain funds managed by Blue Wolf Capital Partners LLC (“Blue Wolf”) in partnership with Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, pursuant to which the Purchaser will acquire all the issued and outstanding shares of the Corporation for $67.00 in cash per share, representing a total enterprise value of approximately $1.2 billion, subject to customary closing conditions.

The Arrangement Agreement is the culmination of an extensive and robust review of strategic alternatives available to maximize shareholder value that was conducted by a Special Committee of independent directors of the Corporation at the request of its principal shareholder, Sumanic Investments Inc.

The consideration offered under the transaction represents a 61.2% premium to the unaffected 20‑day volume-weighted average trading price per Class A Common Share and a 62.2% premium to the unaffected 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on May 19, 2023, the last trading day prior to the announcement of the strategic review process, and a 14.5% premium to the 20-day volume-weighted average trading price per Class A Common Share and a 9.9% premium to the 20-day volume-weighted average trading price per Class B Subordinate Voting Share on the Toronto Stock Exchange on October 13, 2023.

“Since my father started this business more than 70 years ago, we have grown into industry leaders,” said Madeleine Paquin, President and Chief Executive Officer of LOGISTEC. “As we enter this next phase of our journey, we will continue to build a sustainable future by facilitating trade, handling our customers’ goods safely, and protecting our environment as well as our water resources for the next generation. We see significant opportunity to collaborate with Blue Wolf to drive value creation for our people, our customers, and our communities while rewarding our existing shareholders with an attractive cash consideration providing immediate and fair value for their shares.”

“After a comprehensive and rigorous strategic review process, we are pleased to have agreed terms on a transaction with Blue Wolf that has the full support of LOGISTEC’s Board of Directors and Special Committee,” said J. Mark Rodger, LOGISTEC’s Chairman of the Board of Directors and of its Special Committee. “After careful deliberation, the Special Committee and the Board of Directors have unanimously concluded that the transaction is fair to LOGISTEC’s shareholders and is in the best interests of LOGISTEC and its employees and other stakeholders.”

LOGISTEC will Remain a Quebec Based Business with Significant Blue Wolf Investment

“Blue Wolf is excited to enter the Québec market with this acquisition, which represents excellent prospects for continued growth for both of the Corporation’s business segments and throughout North America,” said Bennet Grill, Principal at Blue Wolf. Natalie Marjancik, Partner at Blue Wolf, added, “We are committed to maintaining LOGISTEC’s core values of quality and innovative services, respect for people and the environment. We look forward to continued growth and working alongside the current management teams in place in Québec and elsewhere.”

Blue Wolf’s business plan is anchored in making significant contributions to the business and to the Québec and Canadian economy, including:

  • Maintaining LOGISTEC’s head office in the Province of Québec;
  • Working with the current management teams to drive continued growth in the operations and employment of the business;
  • Future investment of more than $200 million in capital expenditures and growth initiatives; and
  • Continuing contributions to current charitable and social causes in Québec supported by LOGISTEC.

Other Investment Partners

Blue Wolf is funding its portion of the purchase price with capital it manages on behalf of its limited partners via private equity fund capital as well as select co-investors, together with an additional preferred investment in the Purchaser by Stonepeak.

“The specialized services LOGISTEC provides through its terminal operations to a diversified global customer base make it a quality infrastructure asset,” said James Wyper, Senior Managing Director at Stonepeak. “Between its Marine Services and Environmental Services business, which is focused on rehabilitating aging water infrastructure and remediating soil, we believe in the compelling opportunities for growth and in the future success of LOGISTEC. We are excited to support the Corporation, in partnership with Blue Wolf, in its next chapter.”

“The gouvernement du Québec through Investissement Québec is in discussion with Blue Wolf for a potential investment in the Corporation,” said Guy LeBlanc, President and CEO of Investissement Québec (“IQ“). “IQ’s potential participation in the Corporation will support Blue Wolf’s commitment to maintain LOGISTEC’s headquarters and operations in Québec and to continue to make investments in Québec. We would like to thank and congratulate the Paquin Family for having built a sector champion solidly anchored in Québec.”

LOGISTEC Board Recommendation

LOGISTEC’s Board of Directors has evaluated the Arrangement Agreement with the Corporation’s management and legal and financial advisors, and following the receipt and review of the unanimous recommendation of the Special Committee, the Board of Directors has unanimously determined that the transaction is in the best interests of LOGISTEC and is fair to its shareholders, and unanimously recommends that LOGISTEC’s shareholders approve the transaction.

Each of TD Securities Inc., as exclusive financial advisor to the Corporation, and Blair Franklin Capital Partners Inc., as independent financial advisor to the Special Committee, has provided a fairness opinion to the Board of Directors and the Special Committee, respectively, to the effect that, as of the date thereof, and based upon and subject to the assumptions, limitations and qualifications stated therein, the consideration to be received by LOGISTEC shareholders under the transaction is fair, from a financial point of view, to such shareholders.

Transaction Details

The transaction will be implemented by way of a plan of arrangement under the Business Corporations Act (Québec) and is expected to close in the first quarter of 2024, subject to customary closing conditions, including the receipt of regulatory approvals and clearances in Canada and the United States, LOGISTEC shareholder approval and Court approval. The transaction is not subject to any financing condition.

Required LOGISTEC shareholder approval for the transaction will consist of at least 66⅔% of the votes cast on the transaction by holders of Class A Common Shares and Class B Subordinate Voting Shares voting together as a single class at a special meeting of LOGISTEC shareholders. Concurrently with the execution of the Arrangement Agreement, the Purchaser has entered into a voting support agreement with Sumanic Investments Inc., holding Class A Common Shares and Class B Subordinate Voting Shares representing approximately 77% of the voting rights attached to the issued and outstanding shares of the Corporation, and voting support agreements with each of the directors and executive officers who own shares of the Corporation, pursuant to which they have agreed to vote all shares held by them in favour of the transaction, subject to customary exceptions.

The Arrangement Agreement contains non-solicitation covenants on the part of the Corporation, subject to the customary “fiduciary out” provisions. A termination fee of $32 million would be payable by the Corporation to the Purchaser in certain circumstances, including in the context of a superior proposal supported by the Corporation. The Corporation would also be entitled to a reverse termination fee of $59 million if the transaction is not completed in certain circumstances.

Following completion of the transaction, the Corporation will become a privately held company and will apply to cease to be a reporting issuer under Canadian securities laws and the Class A Common Shares and Class B Subordinate Voting Shares will no longer be publicly traded on the Toronto Stock Exchange.

Additional information regarding the transaction will be included in an information circular that LOGISTEC will prepare, file and mail to LOGISTEC shareholders in advance of the special meeting to be held to consider and approve the transaction. Copies of the Arrangement Agreement and the information circular will be available under the Corporation’s profile on SEDAR+ on www.sedarplus.ca.

Advisors

TD Securities Inc. is acting as exclusive financial advisor to the Corporation and Blair Franklin Capital Partners Inc. is acting as independent financial advisor to the Special Committee. Rothschild & Co is acting as exclusive financial advisor to Blue Wolf. Stikeman Elliott LLP is acting as independent legal advisor to the Special Committee and Fasken Martineau DuMoulin LLP and K&L Gates LLP as legal advisors to the Corporation. McCarthy Tétrault LLP and Willkie Farr & Gallagher LLP are acting as legal advisors to Blue Wolf. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Sumanic Investments Inc.

About LOGISTEC Corporation

LOGISTEC Corporation is based in Montréal (QC) and provides specialized services to the marine community and industrial companies in the areas of bulk, break-bulk and container cargo handling in 60 ports and 90 terminals located in North America. LOGISTEC also offers marine transportation services geared primarily to the Arctic coastal trade as well as marine agency services to shipowners and operators serving the Canadian market. Furthermore, the Corporation operates in the environmental industry where it provides services to industrial, municipal, and other governmental customers for the renewal of underground water mains, dredging, dewatering, contaminated soils and materials management, site remediation, risk assessment, and manufacturing of fluid transportation products.

The Corporation has been profitable and has paid regular dividends since becoming public and payments have grown steadily over the years. A public company since 1969, LOGISTEC’s shares are listed on the Toronto Stock Exchange under the ticker symbols LGT.A and LGT.B. More information can be obtained on the Corporation’s website at www.logistec.com.

About Blue Wolf Capital Partners

Blue Wolf Capital Partners LLC is a private equity firm that focuses on value investments in middle market companies in the healthcare and industrial sectors. The firm’s integrated team of investment professionals and veteran operating executives work collaboratively to generate returns by driving transformational change using operational and strategic experience. Blue Wolf seeks to invest in businesses that have catalysts for value creation that involve organizational transformation, complex union or human capital issues, significant government presence,  or the opportunity to use ESG-informed strategies. For additional information, please visit www.bluewolfcapital.com.

About Stonepeak

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $57.1 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, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy and energy transition, transport and logistics, social infrastructure, and real estate. Stonepeak is headquartered in New York with offices in Hong Kong, Houston, London, Singapore, and Sydney. For more information, please visit www.stonepeak.com.

Early Warning Disclosure

As at the date hereof, Sumanic Investments Inc. (“Sumanic”) owns 5,802,578 Class A Common Shares and 6,600 Class B Subordinate Voting Shares, representing approximately 45% of the issued and outstanding shares of LOGISTEC and 77% of the outstanding votes of LOGISTEC, and currently files early warning reports pursuant to the requirements of Regulation 62-104 respecting Take-Over Bids and lssuer Bids and Regulation 62-103 respecting the Early Warning System and Related Take-Over Bid and lnsider Reporting Issues with respect to LOGISTEC. An amended early warning report, stating that Sumanic has entered into a support and voting agreement with the Purchaser pursuant to which it has agreed to vote, at the special meeting of the shareholders of LOGISTEC, in favour of the arrangement contemplated by the Arrangement Agreement will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca. Further information, including a copy of the early warning report may be obtained by contacting Madeleine Paquin, director of Sumanic at 514-237-2949 and Nicole Paquin, director of Sumanic, at 514-212-2325.

Forward-Looking Statements

This press release contains forward-looking information, within the meaning of applicable securities legislation, including statements relating to the anticipated benefits of the transaction for the Corporation and its stakeholders, regulatory, shareholder and Court approvals and the anticipated timing of completion of the transaction. These forward-looking statements express, as of the date of this press release, the estimates, predictions, projections, expectations, or opinions of the Corporation about future events or results, including the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, shareholder and Court approvals, the ability of the parties to satisfy, in a timely manner, the other conditions to the closing of the transaction and the completion of the transaction on expected terms, the impact of the transaction and the dedication of substantial resources from the Corporation to pursuing the transaction on the Corporation’s ability to maintain its current business relationships and its current and future operations, financial condition and prospects and statements relating to IQ’s potential participation in the transaction and any potential related undertakings in connection therewith. Although the Corporation believes that the expectations produced by these forward-looking statements are founded on valid and reasonable bases and assumptions, these forward-looking statements are inherently subject to important uncertainties and contingencies, many of which are beyond the Corporation’s control, such that the Corporation’s performance may differ significantly from the predicted performance expressed or presented in such forward-looking statements. The important risks and uncertainties that may cause the actual results and future events to differ significantly from the expectations currently expressed include the possibility that the transaction will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, required regulatory, shareholder and Court approvals and other conditions to the closing of the transaction or for other reasons; the failure to complete the transaction which could negatively impact the price of the shares or otherwise affect the business of the Corporation; the dedication of significant resources to pursuing the transaction and the restrictions imposed on the Corporation while the transaction is pending; the uncertainty surrounding the transaction that could adversely affect the Corporation’s retention of customers and business partners; the occurrence of a material adverse effect leading to the termination of the Arrangement Agreement, as well as the additional risks and uncertainties examined under business risks in the Corporation’s 2022 annual report. The transaction contemplated in this press release is not contingent on IQ’s participation in the transaction. The reader of this press release is thus cautioned not to place undue reliance on these forward-looking statements. The Corporation undertakes no obligation to update or revise these forward-looking statements, except as required by law.

For further information:

Investors

Carl Delisle, CPA auditor
Chief Financial Officer and Treasurer
LOGISTEC Corporation
cdelisle@logistec.com
(514) 985-2390

Media

Mary-Chantal Savoy
Vice-President, Strategy and Communications
LOGISTEC Corporation
Phone: (514) 985-2337
msavoy@logistec.com

For Enquiries about Blue Wolf

Anna Fernandes
Ryan Public Affairs & Communications
anna@ryanap.com
(514) 973-6016

For Enquiries about Stonepeak

Kate Beers / Maya Brounstein
Communications
corporatecomms@stonepeak.com
+1 (212) 907-5100

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Bain Capital And Conren Tramway Partner to Invest Over €600 Million In Iberian Logistics

BainCapital

Bain Capital And Conren Tramway Partner to Invest Over €600 Million In Iberian Logistics

  • Joint venture (JV) on track to acquire land in Valencia with 92,000 sqm of GLA
  • JV will acquire and develop warehouses in Iberia to the highest ESG standards
  • Partnership consolidates the launch of Conren Tramway’s logistics division
  • Bain Capital to expand its existing c.400,000 sqm logistics portfolio to include Spain

MADRID and LONDON – June 26, 2023 – Bain Capital, a leading private investment firm and Conren Tramway (CT), a leading Spanish real estate investment and development firm, have announced the launch of a JV to co-invest over €600 million into the acquisition and development of logistics in Spain and Portugal over the next five years.

In Spain, the JV will target consolidated and growing logistics hubs nationwide including Madrid, Catalonia, Valencia and Southern Spain. In Portugal, the focus will be on the hubs in Lisbon and Porto.

The JV will focus on delivering grade A logistics to suit the whole range of operator demand, including big box, cross-docking, cold storage and last mile. To design and reposition the assets, the JV will apply CT’s Design Principles and benefit from Bain Capital’s global expertise in logistics investment. The CT team has extensive experience working with clients to tailor the design, construction, functionality, and sustainability of assets to their business needs.

Additionally, the partnership is focused on delivering assets that meet the highest ESG standards including, where appropriate, photovoltaic panels, EV chargers, sustainable construction materials and innovative façades, roofing, and pavements.

CT has an extensive track record of investment and development in the Spanish market, with dedicated teams covering each phase of the investment cycle. Its logistics division, CT Logistics, is led by José María Gutiérrez and Juan Manuel Esteban, with a combined 40 years’ experience investing in, developing, and managing logistics warehouses. Prior to joining CT, they helped create the largest portfolio of logistics assets in Spain, totalling 2.8 million sqm and owned by Merlin Properties, a major real estate investor. Luke Treasure and Gerard Cuevas, with backgrounds at Hines and Goodman, respectively, will support the team in design, construction and sustainability.

As the majority shareholder and financial partner, Bain Capital has a long track record of partnering with local investors and managers globally to capitalise on investment opportunities in sectors with strong fundamentals and growth potential. It has developed c.400,000 sqm of logistics platforms in Poland and Italy, where it focuses on ground-up development in sought after micro-locations, and locations in close proximity to the main logistics corridors, respectively.

JV kicks off with the acquisition of a 92,000 sqm GLA plot in Valencia

The JV  has secured a plot in Loriguilla (Valencia) with total GLA of 92,000 sqm. The asset will be developed to the highest ESG standards.

The Loriguilla project is located near the junction of the A3 and A7 motorways, a strategic logistics area due to its easy access to Valencia’s cargo port and good connectivity with the rest of Spain. Available space in the area is currently limited.

A dynamic market with strong fundamentals

The Iberian logistics market is attracting increasing international attention, leading to a four-fold increase in annual investment volumes in Spain since 2016. The historically low levels of available space are expected to continue to drive rental growth in the short term. In 2022, Madrid, Catalonia, and Valencia had record levels of logistics leases, with rising rents and falling vacancy rates at the most consolidated hubs.

Rafael Coste Campos, Managing Director at Bain Capital comments, “We are pleased to launch this new JV as we expand our logistics services across Southern Europe, in particular Spain and Portugal. We have a solid track record of establishing logistics platforms in markets with strong fundamentals, controlling c.400,000 sqm in Europe alongside two best-in-class JV partners. Our global investment expertise is complimented by CT who have a strong track record of investment and development in Iberia. We look forward to working with them on this project.”

As Paco Hugas, co-CEO of CT, explains, “After having invested more than €1.3 billion and assembled an organisation of 50 people with offices in Madrid and Barcelona, CT manages all functions of the value chain, including acquisitions, urban planning, development and asset and lease management, distinguishing itself for its ability to accommodate user needs through innovation in product design. CT is well positioned to expand and diversify its investment programme leveraging its values and processes, and the logistics market presents a good opportunity to deploy our skills as an investor, developer, and manager with a long-term commitment. To that end, the firm, which invariably invests jointly with primary capital from private and institutional investors, has found the ideal partner in Bain Capital”.

José María Gutiérrez, Managing Director of CT Logistics, says, “Our team’s four decades of experience in the logistics market has shown us how important it is for our clients to have real estate partners who understand their needs and know how to reflect those needs in the design of next generation logistics projects, while working alongside them as they grow their operations. CT and Bain Capital are ideally poised to perform this role over time” .

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About Conren Tramway

Conren Tramway (CT) is a Spanish real estate development and investment firm with a portfolio of assets including office buildings, mixed-use projects, residential properties, and logistics warehouses.

CT was founded as a specialist in the office market. In recent years, the firm has expanded its investment strategy to cover  other segments, including residential, and currently develops assets totalling over 350,000 sqm. Among other remarkable projects, CT currently spearheads the development of the largest mixed use eco-district in Spain, laMercedes, with a total of 185,000 sqm.

The company has a multidisciplinary team of almost 50 people, including investment analysts, architects, project managers, asset, leasing and property managers, who cover the entire lifecycle of real estate assets from CT offices in Madrid and Barcelona.

Learn more: https://conrentramway.com

About Bain Capital Special Situations

Bain Capital Special Situations has $15 billion in assets under management and has invested $28 billion since its founding in 2002. We provide bespoke capital solutions to meet the diverse needs of companies, entrepreneurs, and asset owners – in all market cycles. The strategy brings together credit and equity expertise, as well as corporate and real asset expertise, to provide solutions which cannot be met by traditional providers. We invest globally across capital structures in corporate debt and structured capital solutions, distressed assets, non-performing loans, hard asset opportunities, and growth equity. Our dedicated, global team of 100 investment and portfolio professionals contribute the local expertise and capabilities that enable these diverse investments.

Learn more: https://baincapitalspecialsituations.com/

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Renta acquires Mylift

IK Partners

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire Mylift Holding AS (“Mylift” or “the Company”). Mylift is a Norwegian general rental company operating in the northern part of Oslo and in Innlandet. Mylift also provides scaffolding services through its subsidiary Mylift & Borud Stillas AS. The Company has eight depots, more than 200 employees and annual revenues of more than NOK 360 million.

The acquisition marks a continuation in Renta’s strategy towards building a nationwide rental network, strengthening Renta’s presence in Oslo and extending the rental network to Innlandet, further north from Oslo. Through this latest addition, Renta will have more than 500 employees across 33 depots in Norway. In addition, the acquisition of Mylift strengthens Renta’s product and service offering, particularly in the site modules product category as well as in scaffolding services. Furthermore, Renta will get access to a broader customer base, especially through Mylift’s customers in the event business and by adding site modules to Renta’s offering in Norway.

Mylift’s customer-centric business model and highly complementary geographic presence and product offering, makes it an excellent fit for Renta. Mylift will continue to serve its customers with the same local approach and high-quality services as before and further benefit from implementing Renta’s cutting edge digital solutions to enhance their services.

The acquisition is expected to be completed following a review and approval by the Norwegian Competition Authority.

Kari Aulasmaa, CEO of Renta Group, said:

“We are thrilled to join forces with Mylift, a profitable and rapidly growing company with a reputation of providing high-quality services. Through the acquisition, Renta makes another step forward in building a fully nationwide coverage in Norway, while at the same time strengthening strategically important product and service areas. Mylift’s complementary presence and offering provides an excellent platform for continued growth for us in Norway. We would like to extend a warm welcome to the Mylift team and look forward to working with them.“

Knut Rindal, CEO of Mylift, said:

“We are genuinely glad to become a part of Renta Group, which adheres to highest operational standards and has ambitious plans for the future. I am convinced that Renta will provide a good home for our employees and that we will be able to further develop our services towards our customers as part of Renta. It was important for us that the chosen strategic partner shares the same values that we have followed in our operations, and I truly believe that Renta is the perfect choice. I am certain that together with Renta we will become even stronger and be able to accelerate growth in the Norwegian rental market.”

Enquiries: ir@renta.com

About Renta Group

Renta Group is a Northern European full-service equipment rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark, Poland, and the Baltics, with 137 depots and over 1,500 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a supplier of scaffolding and weather-protection services. For more information, please visit www.renta.com

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About Mylift

Mylift Holding AS is a Norwegian general rental company founded in 2010.Through subsidiary Mylift & Borud Stillas AS, Mylift also provides scaffolding services. The company has eight depots and more than 170 employees. For more information, visit https://mylift.no/

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Apollo Infrastructure Funds Announce Structured Equity Investment in Intermodal Tank Transport

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Apollo

NEW YORK, June 13, 2023 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have agreed to make a structured equity investment in Intermodal Tank Transport (“ITT” or the “Company”), a leading global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products. ITT will continue to be led by President and Chief Executive Officer Jon Hulsey and the existing management team. Financial terms were not disclosed.

Founded in 1993, Intermodal Tank Transport is a recognized leader in ISO tank container transportation and logistics, serving hundreds of customers via its leading tank fleet and depot locations. ITT serves an essential role in the transportation value chain, arranging end-to-end logistics of bulk liquids for blue-chip customers across all major modes of transportation.

In addition to being the largest U.S.-based ISO tank operator, the Company provides ISO tank maintenance, cleaning and inspection services across its global depot network. In the current market environment, ISO tanks are becoming an increasingly favored mode of transport due to higher reliability, safety, flexibility and ease-of-use compared to other alternatives.

“We are thrilled to partner with Apollo to help accelerate our next phase of growth,” said Jon Hulsey, President and CEO of ITT. “We have a number of compelling opportunities to strengthen our global platform, and we believe Apollo’s deep understanding of our business, scale and extensive value-creation expertise will help us unlock the significant growth potential of our business. I look forward to continuing to lead the dedicated, hardworking team at ITT as we continue driving value and enhancing customer experience.”

“Jon and the team have done an exceptional job building ITT into an industry leader with high-quality assets and an unwavering commitment to customer service,” said David Cohen, Partner at Apollo. “As food, chemical and other industries increasingly turn to ISO tanks for reliable, safe transport, we believe ITT is well positioned to expand its leadership position as a specialty logistics provider serving supply chains and owners of infrastructure around the globe.”

“This investment in ITT demonstrates our ability to partner with leading global businesses and management teams to unlock value in complex operating environments,” said Dylan Foo, Head of Global Infrastructure at Apollo. “With our flexible capital, global resources and significant industry experience, we believe we are well positioned to support Jon and the ITT team as they continue to drive sustainable long-term success.”

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to the Apollo Funds. ITT was advised by Raymond James & Associates, Inc. as financial advisor and McGinnis Lochridge LLP as legal advisor.

About Intermodal Tank Transport
Intermodal Tank Transport a leading global provider of ISO tank transportation logistics and depot services for bulk-liquid chemical and food-grade products. Founded in 1993, the company has demonstrated consistent growth for nearly three decades. Headquarters in the United States, ITT serves a global client base of blue-chip customers from 15 offices around the globe spanning North America, South America, Europe and Asia.

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, 2023, Apollo had approximately $598 billion of assets under management. To learn more, please visit www.apollo.com.

Apollo 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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Ratos Company Speed Group to acquire Supplier Partner

Ratos

Speed Group (Speed) has signed an agreement to acquire Supplier Partner, a Gothenburg-based company in industrial logistics. Through the acquisition, Speed broadens its offer within the industrial segment and expands its presence in expansive Arendal near the port of Gothenburg.

Speed is one of Sweden’s largest suppliers of logistics services, 3PL and 4PL. Now the company is further strengthening its customer offering through the acquisition of Supplier Partner.

“The acquisition of Supplier Partner is a result of Ratos’s long-term work to identify and attract niche profitable businesses within industries we know well and where clear synergies can be extracted. The acquisition strengthens Speed’s customer offering in the core business of industrial logistics,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

“We have a pronounced acquisition strategy where the focus is on synergistic and profitable companies that can broaden our customer offering within attractive niches. This is where Supplier Partner fits in well. We see great potential in the company’s customer offer and look forward to continuing to develop the business together with the management and all talented employees,” says Jesper Andersson, CEO of Speed Group.

Supplier Partner has a turnover of approximately SEK 60 million and the former main shareholder, Dick Karlsson, now chooses to divest.

About Speed Group
Speed offers sustainable, flexible and innovative solutions to complex logistics and staffing challenges. Sustainability permeates the entire business, and the aim is to be carbon neutral by 2025. Speed has its head office in Borås, Sweden, and logistics centres in Borås, Gothenburg and Stockholm covering a combined total of more than 220,000 square metres. The company has sales of just over SEK 1.1 billion and approximately 1,500 employees.

For further information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21
Jesper Andersson, CEO, Speed Group, +46 70 816 68 37

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 32 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Leading railway ERP software provider RailCube finds strategic partner in Main Capital Partners

Main Capital Partners

RailCube, supplier of innovative software solutions for railway undertakings, announces a majority investment by strategic software investor Main Capital Partners. The partnership with Main represents an important step in the development of RailCube, which is looking to further enhance its position as the go-to ERP partner for railway undertakings. Through a continued focus on innovation and product development, RailCube and Main will jointly aim to further enhance the proposition of RailCube to clients across the globe.

RailCube, founded in 2011, is a market leading ERP software provider for the railway market. RailCube offers a broad range of features for railway undertakings within a single application including modules to manage operations and safety, staff & HR, finance and BI capabilities. Through an ERP solution for planners and office workers and a mobile application for train drivers, developed under stewardship of co-Founder Ernstjan Aalbersberg, RailCube offers a comprehensive suite that helps railway undertakings automate core processes across all domains of the business.

Over the years, RailCube has become an increasingly internationally oriented organization, today catering to a loyal customer base of over 85 railway undertakings across 20 European countries and Australia. As a result, RailCube’s solution can support local and multinational railway undertakings such as launching customer the LTE Group (Austria), Deutsche Bahn Cargo, Pacific National (Australia), Hector Rail (Sweden) and Rail Cargo Austria in their connectivity needs with industry systems, platforms and regional infrastructure managers across European markets.

“We are very excited to announce this major next step in the growth journey of RailCube”, stated Dennis Hendriksen. “The investment by Main marks a crucial turning point, empowering RailCube to expand to new continents while maintaining focus on controlled and sustainable growth. We are deeply committed to support our clients in the optimization of their operations and safety management, and look forward to further enhancing the quality of our service offerings for existing and new clients alike in collaboration with Main.”

Sjoerd Aarts, Partner at Main and Chairman of the Supervisory Board at RailCube: “We consider RailCube a leading innovator in the railway industry with a strong market position across European markets. We foresee great potential for further market expansion, within Europe and beyond, and will aim to further enhance RailCube’s value proposition for customers and partners in the years to come, through a combination of autonomous growth and selective strategic buy-&-build opportunities. We are very excited about the journey ahead, and look forward to a successful partnership with Ernstjan, Dennis, and the entire RailCube organization.”

About RailCube
RailCube is the leading ERP solution for railway undertakings seeking reliable operations management and the highest safety standards. RailCube is multilingual, multi-referential and is compatible with the interoperability standards for data exchange between international systems respecting industry-standard UIC standards. Most importantly, the solution can fit into the railway “ecosystem” by connecting to existing operational and third-party systems. RailCube’s team of 45 professionals working across Europe and Australia enable its users to efficiently allocate (human) resources, while ensuring compliance with local and international safety and quality standards.

About Main Capital Partners
Main Capital Partners is a leading software investor managing investment funds active in Northwestern Europe and North America. Main has 20 years of experience in software investing and works closely with the management teams in its portfolio as a strategic partner, in order to achieve sustainable growth and larger outstanding software groups. Main has 60 employees and offices in The Hague, Stockholm, Düsseldorf, Antwerp and an affiliated office in Boston. Main has over 2.2 billion euros in assets under management and currently has an active portfolio of over 40 software groups. Together, these companies provide about 9,000 jobs.

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