Tag Archives: Logistics

Hg agrees to sale of Transporeon for €1.88 billion

HG Capital

highly successful partnership between Hg and the Transporeon team has led to continued strong revenue and EBITDA growth since 2019, furthering Transporeon’s mission to bring transportation in sync with the world.

Ulm, Germany and London, United Kingdom. 12 December 2022.  Hg, a leading software and services investor, today announces the sale of Transporeon, a leading cloud-based transportation management software platform, to Trimble in a transaction valuing the business at an enterprise value of €1.88 billion.

Transporeon provides a leading cloud-based logistics and transport management platform, solving 360-degree freight problems by enabling automation, real-time insights and collaboration on €48bn of annual freight.  This is all handled on a modern SaaS platform which enables more efficient tendering, dispatching, scheduling, real time tracking and better communication between the around 1,400 enterprises looking to move freight and close to 145 000 carriers – all whilst helping to reduce 30% waste in global transportation and to lower CO2 emissions.

A 20+ year focus on software businesses across Europe and North America led to Hg following the business and engaging with the team for almost a decade prior to investing in 2019. Since then, the business has seen strong growth and continued margin expansion across various cycles.

This robust performance has been enabled by continuous product investment and strategic initiatives, whilst also adding new offerings to Transporeon’s suite both through additional partnerships and five strategic tuck-in acquisitions.​

“The past three years has significantly accelerated Transporeon forward in our mission to bring transportation in sync with the world. Innovation in our products and an expansion of the business has meant we have built a remarkable platform in a rapidly growing sector, with solutions that are in high demand globally. This would not have been possible without the software expertise delivered by Hg. The management team thank everyone at Hg and Transporeon who have worked hard together to put us in this very advantageous position”.

Stephan Sieber, Chief Executive Officer at Transporeon

“We tracked Transporeon for many years, impressed with its globally unique logistics network, solving real supply chain issues in a heavily under-digitized sector. It has been a hugely rewarding, working initially with the founders Marc and Martin, and then with Stephan and the team to build on this. We’re particularly proud to have enabled several new solutions which have proved immensely valuable to customers and the wider global community, like AI-based analytics and prediction tools to facilitate carbon footprint reduction, whilst also expanding our addressable sector via strategic acquisitions. We wish the team the very best wishes as part of Trimble”

Stefan Margolis, Partner at Hg

“Transporeon is at the forefront of freight industry digitalisation and its cloud-based solutions continue to reduce complexity and increase efficiency for a large fragmented global logistics sector. We’re delighted for the team. We’re also proud to continue to deliver on our purpose, to return funds back to clients, with $7 billion returned during 2022.”

Justin von Simson, Managing Partner at Hg

The sale marks the fourth full Hg realisation to a strategic buyer in the last 12 months, having previously sold Medifox to ResMed, Allocate Software to RL Datix and itm8 which merged with AddPro, all contributing to over $7 billion collectively returned to clients in the last 12 months.

The transaction is expected to close in the first half of 2023, subject to customary closing conditions including regulatory approvals.

For further information, please contact:

For Hg
Tom Eckersley, Hg
+44 (0)20 8396 0930
tom.eckersley@hgcapital.com

Azadeh Varzi, Brunswick Group
+44 (0)207 404 5959
hg@brunswickgroup.com

About Transporeon

At Transporeon, our mission is to bring transportation in sync with the world. We power the largest global freight network of +1,300 industrial shippers, +100 large retailers and +145,000 carriers and logistics service providers. They execute 220,000 transactions per day on our platform and process around €48bn in freight spend per year.

Our leading Transportation Management Platform connects all actors along the supply chain. It facilitates collaboration between the different parties, helps to automate manual processes and provides valuable real-time insights. The modular Application Hubs solve specific logistics challenges and range from freight sourcing over transport execution and dock and yard management to freight audit and payment. Data hubs provide insights into logistics operations, market developments and carbon emissions, next to ensuring transparency in the supply chain through visibility. Our platform works across all geographies and all modes of transportation, empowering logistics teams to move, manage and monitor freight.

Transporeon is headquartered in Ulm, Germany, and maintains 18 offices around the globe with +1,400 employees across 27 countries. For more information visit www.transporeon.com.

About Hg

Hg is a platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.

Hg has funds under management of over $55 billion, with an investment team of over 160 professionals, including a portfolio team of almost 50 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich, New York, Paris and San Francisco, Hg has a portfolio of over 46 software and technology businesses, worth over $100 billion aggregate enterprise value, with over 90,000 employees globally, growing at over 20% per year.

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KKR Completes Tender Offer For Hitachi Transport System

KKR

TOKYO–(BUSINESS WIRE)– Global investment firm KKR announced today that its tender offer for the common shares of Hitachi Transport System Ltd. (“HTS” or the “Company”; TSE stock code 9086) concluded on November 29, 2022. The cash tender offer was through HTSK Co., Ltd. (the “Offeror”), a special purpose entity owned by the investment funds managed by KKR. Approximately 51.11% of the common shares have been tendered and will be acquired by the Offeror. Settlement of the tender offer will commence on December 6, 2022.

In addition to the shares acquired during the tender offer, the Offeror will acquire the remaining shares of HTS through a squeeze-out process which, combined with a buyback by HTS of the shares held by Hitachi Ltd., will result in the Offeror owning 100% of the shares of HTS.

HTS is a leader in the third-party logistics business (“3PL”) in Japan. The Company provides supply chain solutions for customers who outsource logistics functions such as logistics system integration, inventory and order control, logistics center operations, factory logistics, and transportation and delivery services. HTS has a strong domestic 3PL business as well as an international business which includes forwarding business and related 3PL business.

This tender offer will be financed predominantly from KKR’s Asia IV Fund.

Hiro Hirano, Co-Head of Private Equity for KKR Asia Pacific and Chief Executive Officer of KKR Japan, said, “We are pleased with the results of this tender offer and to begin our strategic partnership with Hitachi Transport System. We look forward to utilizing KKR’s global network and expertise to help Hitachi Transport System become the leading 3PL company in Asia. Now more than ever, 3PL is vital to the trade flows and the global economy. Our goal is to help HTS grow its business through increasing its innovative supply chain solutions for its clients and business partners around the world.”

HTS will be renamed LOGISTEED, Ltd. from April 1, 2023, a name that combines LOGISTICS with Exceed, Proceed, Succeed, and Speed, which represents the Company’s determination to be a leading global 3PL provider for its clients and business partners.

HTSK Co., Ltd. “Announcement Regarding Results of Tender Offer for Shares of Hitachi Transport System, Ltd. (Securities Code 9086)”

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 Twitter @KKR_Co.

KKR Media
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

FGS Global (for KKR Japan)
Samuel Brustad
+81 70 3853 3284
Samuel.Brustad@fgsglobal.com

Source: KKR

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First Dutch to sell its stake in Share Logistics

FIrst Dutch

On Friday, 25 November 2022, First Dutch completed the sale of its stake in Share Logistics to the French logistical organisation Groupe BBL.

Share Logistics is a large freight forwarder based in Barendrecht, the Netherlands, and offers a complete range of high-quality logistical services, mainly in air and sea freight. Founded in 1997, Groupe BBL is a European logistics service provider with a strong position in contract logistics, road transport, customs services and overseas transport. This is a strategic transaction for both parties to jointly serve their customers even more effectively.

The acquisition of Share Logistics contributes to Groupe BBL’s ambition to strengthen its Transatlantic network. Furthermore, by joining forces, Share Logistics adds new countries to BBL’s CARGO ‘Overseas Transport Network’, allowing it to expand its activities in the Euro-Mediterranean network further.

Groupe BBL hopes to strengthen its footprint and cargo network by acquiring Share Logistics. Christophe Besset, CEO of Groupe BBL, expressed his enthusiasm for the acquisition:

‘Share Logistics and Groupe BBL obviously share the same fundamentals: those of a client-driven midsize organisation passionate with complex and time-critical logistics solutions; those of a human-sized family business focused on employee’s expertise and engagement. We have a perfect match regarding the complementarity of the two companies. Share Logistics will add new countries to our BBL CARGO “Overseas Transport network”.’

First Dutch is proud that Share Logistics can realise its next growth phase together with Groupe BBL.

Read the full press release here.

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GIP and KKR-led Consortium Enters Into Strategic Co-control Partnership With Vodafone to Invest in Vantage Towers AG

KKR

Two of the world’s leading infrastructure investors and Vodafone team up to jointly transform Vantage Towers into a leading player in the European telecoms tower sector

  • The Consortium, as partner to Vodafone, will co-control Vodafone’s c. 81.7% stake in Vantage Towers and launch a public takeover offer to the minority shareholders of the company for the remaining c. 18.3%
  • GIP and KKR together with Vodafone intend to provide the deep infrastructure expertise needed to accelerate Vantage Towers’ strategic and operational development
  • The strategic partners intend to support an ongoing multibillion euro investment program over the next five years in order to improve Vantage Towers’ existing infrastructure and expand and upgrade its network
  • The Consortium will support the development of Europe’s digital infrastructure by driving network expansion and enabling the deployment of next-generation technologies
  • The public takeover will be launched at an offer price of EUR 32.0 per Vantage Towers share, representing a 19% premium to the 3-month volume-weighted average share price

LONDON & FRANKFURT–(BUSINESS WIRE)– Today, a consortium of funds led by Global Infrastructure Partners (“GIP”) and KKR (together “the Consortium”) entered into a strategic co-control partnership with Vodafone GmbH (“Vodafone”) for Vodafone’s c. 81.7% stake in Vantage Towers AG (“Vantage Towers” or “the company”), a leading telecoms tower company in Europe. Vodafone will transfer its stake in Vantage Towers to a holding company (“Oak BidCo”), which will be indirectly co-controlled by Vodafone and the Consortium. The Consortium will obtain a shareholding of up to 50%. Oak BidCo will launch a voluntary public takeover offer for all outstanding free float shares of Vantage Towers AG comprising c. 18.3% of the share capital.

GIP and KKR will be investing through their core infrastructure strategies. Tower Bridge Infrastructure Partners1 will be part of the Consortium as a co-investor, with additional funding for the transaction provided by the Public Investment Fund (“PIF”).

Together, GIP, KKR and Vodafone will provide deep infrastructure expertise to help advance the company’s strategic plans. The Consortium and Vodafone share a joint ambition to accelerate the company’s growth trajectory through additional investments by Vantage Towers in its network and expansion into fast-growing adjacent markets. The Consortium and Vodafone aim to expand Vantage Towers’ business to create a leading pan-European telecoms tower business.

Already a leader in its core markets today, Vantage Towers has a large footprint of approximately 83,000 sites in ten countries, long-term agreements with high-quality tenants and a deep and dense network in the markets in which it operates. The company benefits from consistent organic growth, stable margin development and strong cash generation driven by significant revenue visibility and enhanced commercialization of its tower footprint. In 2021, Vantage Towers signed a landmark agreement with 1&1 Mobilfunk GmbH to support the company in the rapid roll-out of its 5G network, covering potentially up to 5,000 existing sites throughout Germany for the next 20 years.

“We’re delighted to join forces with Vodafone and KKR to invest in Vantage Towers, a high-quality European tower portfolio with strong upside potential. We are looking forward to capturing the exciting value-creating opportunities in the European telecoms infrastructure sector by advancing Vantage Towers’ strategy and supporting its capacity to build new sites. As strategic partners with Vodafone and KKR, we will bring our deep infrastructure expertise and resources to help the company deliver the best data connectivity for individuals and businesses and contribute to enabling Europe’s digital future in the interest of all stakeholders,” said Will Brilliant, Partner and Head of Digital Infrastructure at GIP.

“Together with our strategic partners Vodafone and GIP, we believe Vantage Towers’ high-quality footprint and network across the region ideally position it to meet the ever-growing demand for mobile connectivity in Europe. We have a shared goal of creating a pan-European telecoms champion by continuing to grow and develop the business, leveraging the Consortium’s significant telecoms infrastructure investment experience and global resources. At KKR we are long-term conviction investors in Europe’s digital infrastructure and at Vantage Towers we intend to pursue value-creating investments to capitalise on the growth in this sector and to help drive consolidation in a fragmented market,” said Vincent Policard, Partner and Co-Head of European Infrastructure at KKR.

“This is a landmark moment for both Vodafone and Vantage Towers. This transaction successfully delivers on Vodafone’s stated aims of retaining co-control over a strategically important asset, deconsolidating Vantage Towers from our balance sheet to ensure we can optimise its capital structure and generate substantial upfront cash proceeds for the Group to support our priority of deleveraging. We are excited to partner with GIP and KKR, both world-class investors who bring significant expertise in digital infrastructure and share our long-term vision for Vantage Towers as we collectively take the business to the next stage of its growth,” said Nick Read, Vodafone Group Chief Executive.

Investing in the modernization of Europe’s mobile infrastructure
Together, the strategic partners plan to support Vantage Towers’ multibillion investment program over the next 5 years in order to improve existing infrastructure and to expand as well as upgrade the network. Through their strategic co-control partnership, the Consortium and Vodafone intend to support Vantage Towers to:

  • Accelerate the company’s ambitious program to build new sites for existing clients (“Build-to-suit”, “BTS”) that helps them to meet their coverage obligations and densification requirements.
  • Enhance Vantage Towers’ commercial capabilities and drive the utilization of existing assets by capturing additional co-location opportunities from new and existing third-party customers.
  • Expand the company’s activities beyond its core business into fast-growing adjacent markets such as 5G private networks, data centers, edge computing, small cells and the internet-of-things (“IoT”), and deploying fiber to the tower ecosystem.
  • Further drive consolidation in the European tower sector.

This European growth strategy is expected to allow Vantage Towers to further diversify its tenant base, increase the size and depth of its tower portfolio, while also creating further cost efficiencies and improving its profitability.

With further investments into Vantage Towers’ network, the Consortium and Vodafone are supporting Europe’s digitalization efforts and ensuring that mobile telecommunications infrastructure can keep up with the rapidly rising demand for data traffic and connectivity. Emerging trends such as autonomous driving, telemedicine, virtual/augmented reality, smart farming and IoT depend on the data services and infrastructure that enable them. Vantage Towers has the DNA of a carrier-neutral infrastructure provider, which will play a key role in empowering a sustainably connected Europe. The Consortium is aware of its responsibility to provide access to communications services for the community. It also recognizes the importance of sustainably stewarding these critical assets and is committed to ensuring that Vantage Towers remains a highly attractive employer in the industry.

GIP and KKR have a long track record of collaboration in the infrastructure sector
Both GIP and KKR are leading global infrastructure investors. Together, they form a Consortium with unique experience and expertise in global infrastructure investing, particularly in the digital and communications sector. Both companies share a longstanding institutional relationship and have a proven track record of acting together within one consortium. The Consortium is a strong financial partner for Vantage Towers with access to ample liquidity and long-term value creation objectives to support the business and the necessary investments at this pivotal moment for the industry.

Voluntary takeover offer
As part of their strategic co-control partnership, the Consortium and Vodafone will launch a voluntary public takeover offer to the shareholders of Vantage Towers through Oak BidCo. Vantage Towers’ shareholders will be offered EUR 32.0 per share in cash. Vantage Towers’ shareholders will benefit from a 19% premium to the 3-month volume-weighted average share price.

The voluntary takeover offer will be subject to various customary offer conditions, including the receipt of regulatory antitrust and FDI approvals, with closing expected in the first half of 2023.

As part of the transaction, Oak BidCo and Vantage Towers have entered into a Business Combination Agreement in which Vantage Towers undertook to support the takeover offer. Subject to their review of the offer document, the management board and supervisory board of Vantage Towers welcome and support the offer and intend to recommend that Vantage Towers’ shareholders accept the offer. The current management board members of Vantage Towers will continue to lead the company.

Further, the Consortium and Vodafone intend to implement a domination profit and loss transfer agreement (“DPLTA”) if the final shareholding of Oak BidCo in Vantage Towers is below 95%, or a squeeze-out of non-Oak-BidCo minority shareholders if the aggregate shareholding of Oak BidCo in the company is 95% or higher. Post-closing, Vodafone and the Consortium will consider removing Vantage Towers’ public listing from the Frankfurt Stock Exchange.

Offer document and further information
The voluntary public takeover offer will be made pursuant to an offer document to be approved by the German Federal Financial Supervisory Authority (BaFin). This offer document will be published following receipt of permission from BaFin, at which point the initial acceptance period of the takeover offer will commence. The offer document (in German and a non-binding English translation) and other information pertaining to the public takeover offer will be published on the following website: https://angebot.wpueg.de/oak/.

GIP and KKR are advised by Morgan Stanley as exclusive financial advisor and Latham & Watkins as legal advisor.

###

About Vantage Towers
Vantage Towers is a leading tower company in Europe with around 83,000 sites in ten countries, connecting people, businesses and devices in cities and rural areas.

The company was founded in 2020 and is headquartered in Düsseldorf. Vantage Towers has been listed on the Deutsche Börse’s Prime Standard in Frankfurt since 18 March 2021. The shares are included in the MDAX, TecDAX, STOXX Europe 600 and FTSE Global Midcap Indices.

Vantage Towers’ portfolio includes towers, masts, rooftop sites, distributed antenna systems (DAS) and small cells. By building, operating and leasing this infrastructure to MNOs or other network providers such as IoT companies or utilities, Vantage Towers is making a significant contribution to a better-connected Europe.

While already 100% of the electricity that Vantage Towers uses to operate its infrastructure is obtained from renewable energy sources, green energy is increasingly being generated directly on site with the help of solar panels, micro wind turbines and in future also hydrogen solutions. This fits well into the overall strategy of the company to drive a sustainable digitalisation in Europe and to support partners through technological innovation in decarbonisation and achieving their climate goals.

For more information, please visit our website at www.vantagetowers.com, follow us on Twitter at @VantageTowers or connect with us on LinkedIn at www.linkedin.com/company/vantagetowers.

About Vodafone
Unique in its scale as the largest pan-European and African technology communications company, Vodafone transforms the way we live and work through its innovation, technology, connectivity, platforms, products and services.

Vodafone operates mobile and fixed networks in 22 countries, and partners with mobile networks in 47 more. As of 30 June 2022, we had over 300 million mobile customers, more than 28 million fixed broadband customers and 22 million TV customers. Vodafone is a world leader in the Internet of Things (“IoT”), connecting around 160 million devices and platforms.

We have revolutionised fintech in Africa through M-Pesa, which celebrates its 15th anniversary in 2022. It is the region’s largest fintech platform, providing access to financial services for more than 50 million people in a secure, affordable and convenient way.

Our purpose is to connect for a better future by using technology to improve lives, digitalise critical sectors and enable inclusive and sustainable digital societies.

We are committed to reducing our environmental impact to reach net zero emissions across our full value chain by 2040, while helping our customers reduce their own carbon emissions by 350 million tonnes by 2030. We are driving action to reduce device waste and achieve our target to reuse, resell or recycle 100% of our network waste.

We believe in the power of connectivity and digital services to improve society and economies, partnering with governments to digitalise healthcare, education and agriculture and create cleaner, safer cities. Our products and services support the digitalisation of businesses, particularly small and medium enterprises (SMEs).

Our inclusion for all strategy seeks to ensure no-one is left behind through access to connectivity, digital skills and creating relevant products and services such as access to education, healthcare and finance. We are also committed to developing a diverse and inclusive workforce that reflects the customers and societies we serve.

For more information, please visit http://www.vodafone.com, follow us on Twitter at @VodafoneGroup or connect with us on LinkedIn at http://www.linkedin.com/company/vodafone.

About Global Infrastructure Partners
GIP is a leading independent infrastructure fund manager that makes equity and debt investments in infrastructure assets and businesses. GIP targets investments in the energy, transport, digital infrastructure, and water/waste sectors in both OECD and select emerging market countries. Headquartered in New York, GIP operates out of 10 offices: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $84 billion for its investors. GIP’s portfolio companies have combined annual revenues of c. US $68 billion and employ over 100,000 people. For more information, visit www.global-infra.com.

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.

KKR established its Global Infrastructure business in 2008 and has since grown to one of the largest infrastructure investors globally with a team of more than 75 dedicated investment professionals. The firm currently oversees approximately US$50 billion in infrastructure assets globally as of 30 September, 2022, and has made over 65 infrastructure investments across a range of sub-sectors and geographies. KKR’s infrastructure platform is devised specifically for long term, capital intensive structural investments.

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

1 Separately Managed Account managed by GIP

Media Contact Consortium (on behalf of GIP and KKR)

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Thea Bichmann
Mobile: +49 172 13 99 761
Email: thea.bichmann@fgsglobal.com

Christian Falkowski
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Email: christian.falkowski@fgsglobal.com

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Sophia Johnston
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Source: KKR

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Ratos company Speed Group to acquire Scandi Terminal

Ratos

Speed Group (Speed) has signed an agreement with Profura Gruppen regarding the acquisition of Scandi Terminal AB. With this acquisition, Speed is expanding its logistics offering to include niche solutions for bulk products.

Speed is one of Sweden’s largest providers of 3PL and 4PL services. With the acquisition of Scandi Terminal AB, Speed’s customer offering will be further expanded through the addition of warehousing, transport and repackaging of bulk products.

 

“The acquisition of Scandi Terminal AB is entirely in line with Ratos’ acquisition strategy, in which both larger and smaller add-on acquisitions in existing companies play an important role. With the acquisition of Scandi Terminal AB, Speed is taking another step in expanding its customer offering. It will create positive synergies for the customers, and bodes well for continued profitability,” says Christian Johansson Gebauer, Chairman of the Board of Speed Group and President, Business Area Construction & Services, Ratos.

 

“We have a stated acquisition strategy that focuses on profitable companies that can provide Speed’s customers with new service segments. As an operator in a niche with a great deal of potential, Scandi Terminal AB fits into this strategy well. With our experience and expertise in logistics, we are convinced that we have excellent opportunities to positively develop both the company and our customer relationships in the area,” says Mats Johnson, CEO of Speed Group.

 

Scandi Terminal, which operates out of Stenungssund, has been part of Profura Gruppen since 2006 and is an important provider of logistics and materials handling to customers in the process industry. The company’s sales in 2021/22 amounted to just over SEK 40m.

 

About Speed Group

Speed Group 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 200,000 square metres. The company has sales of just over SEK 1 billion and approximately 1,600 employees.

For further information, please contact
Mats Johnson, CEO of Speed Group, +46 73 367 75 45
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 15 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 26 billion in net sales. 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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Ligentia completes deal to acquire VGL Solid Group to form a diverse, customer-focused and responsive global supply chain management business

Equistone

Ligentia Group (Ligentia), a global tech-enabled supply chain manager, announced today that its acquisition of VGL Solid Group (VGL) is now complete. This further strengthens Ligentia’s position as a leading  provider of supply chain and logistics services, with revenues of over £1bn, accelerating its ambitions to leverage its technology and experience by growing into new, fast-growing territories and sectors.

“This is an exciting day for both Ligentia and VGL Solid customers and colleagues, and a natural extension from our highly successful joint venture, which we have operated together for nearly 10 years”, said Ligentia CEO Nick Jones. “We would like to give a warm welcome to Marcin and Grzeg, the VGL co-founders, and their management shareholders, who all become shareholders in our new combined business.”

Jones continued, “This is an important and significant step in a Growth Strategy that we set out with Equistone at the start of their investment in 2021. We are committed to continuing to invest in our technology platform, and an ambitious program of digitalisation and automation, but we also recognise the power of regional expertise and experience, and we believe that one of Ligentia’s key differentiators is its ability to combine technology and people in a way that gives customers quite a unique and tailored solution.”

This combination strengthens Ligentia’s presence on the Asia-Europe and Transpacific trade lanes, at a time when customers are facing increasing complexity in managing their international supply chains. Ligentia’s market-leading technology platform, Ligentix, provides its customers’ planners and logistics teams with full visibility through a SKU level control tower platform that connects factories, carriers, customs, warehouses and delivery to the end customer in a way that gives enhanced control over inventories anywhere in the world.

In 2021, Ligentia received significant investment from Equistone Partners Europe to deliver its ambitious growth plans. Commenting on the deal, Investment Director, Sebastien Leusch, and Director, Chris Candfield, said: “We are proud to support the Board in this acquisition which enables the business to expand into new geographies and sectors, continue to innovate its technology and strengthen its position in a dynamic market. The team have delivered exceptional growth over the last two years, including the launch of its US business, and we have been hugely impressed by the clear ambition to scale and build a diverse, customer-focused and responsive global supply chain management business.”

VGL founding members, Grzegorz Dobkowski and Marcin Gruchala will join the Ligentia Group Board, working alongside the existing Board members and Chairman Garry Watts.

The deal is financed with the support of Ligentia’s existing funders, Partners Group and Santander.  Ligentia has been supported in this transaction by Rothschild, DC Advisory, Squire Patton Boggs, KPMG, Roland Berger and Addleshaw Goddard. VGL Solid Group has been supported by PwC, GKW, Skadden, Żelaznowski & Głowiński and KPMG.

 

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CapMan Special Situations invests in Niemi Services, the leading moving and logistics services provider in Finland

Capman

CapMan Special Situations invests in Niemi Services, the leading moving and logistics services provider in Finland

The CapMan Special Situations Fund invests in Niemi Services and will support the company’s’ growth as the leading provider of moving and logistics services in Finland.

In connection to the investment made by the CapMan Special Situations Fund, two of the company’s current owners, Ilpo and Kai Niemi, sell their shares in the company. Esa and Juha Niemi continue as main owners of the company and will together with CapMan form the new Board of Directors of the company. Timo Seppä, appointed on September 1st, will continue as the CEO.

Niemi Services is the leading moving and logistics services provider in Finland. Its business is founded on consistently exceeding client expectations. Niemi Services is a forerunner in sustainability; its fleet runs on 100% fossil free fuel, and it invests in services for the circular economy both for enterprise customers as well as for consumers.

“Niemi is the prominent brand in the Finnish moving and logistics services market. As the market leader, the company holds ample opportunities to further expand its business. Strengthening of the company’s governance and management together with the investment capacity through our fund will enable accelerating growth and business development going forward”, says Tuomas Rinne, Partner, CapMan Special Situations.

“This investment and the support of the CapMan Special Situations team makes Niemi Services even stronger. Our journey over the past more than 40 years has demanded continuous renewal while holding on to what is essential us: personalised customer service. The arrangement with CapMan unlocks excellent opportunities to further develop the company’s capabilities and ensure continued success of Niemi Services”, say Esa and Juha Niemi.

CapMan’s investment is subject to the approval by the Finnish Competition and Consumer Authority.

For more information, please contact:

Tuomas Rinne, Partner, CapMan Special Situations, +358 40 311 6025

Juha Niemi, Board Member, Niemi Services, +358 400 402 307

Esa Niemi, Board Member, Niemi Services, +358 400 452 400

Niemi Services

Niemi Services Ltd is a moving and logistics services company founded in 1981. In 2021 we executed over 120,000 assignments nation-wide, and our revenue was approximately 40 million euros. We employ over 1,200 service professionals. We have been ranked number one in our industry for the 18th time in a row (Taloustutkimus, TEP 2021), and 97,8% of our customers recommends us (Niemi Services 2021). We invest in sustainability. Our entire fleet already operates on non-fossil fuels: biogas, renewable diesel or electricity. Our goal is net-zero emission fleet and carbon neutrality in 2030.

www.niemi.fi/en

CapMan Special Situations

CapMan Special Situations pursues event-driven investment situations by providing flexible capital solutions and strong operational capability to deliver step-change performance improvements.

CapMan Special Situations is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation and over €4.8 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Xeneta Raises $80 Million led by Apax Digital

Apax

Investment to Fuel Expansion of Xeneta’s Breakthrough Container Shipping & Air Cargo Market Analytics Platform

Xeneta, the leading ocean and air freight rate benchmarking and market analytics platform, today announced an $80 million investment at a $265 million valuation led by funds advised by Apax Digital, the growth equity arm of Apax, a leading global private equity advisory firm, with participation from NY-based Lugard Road Capital. With this investment, Xeneta will accelerate investments in platform development and continue scaling its global commercial teams. This will support expansion into new markets as companies seek to develop resilient supply chains to counter global trade volatility.

A global pandemic, geo-political uncertainty, and climate-related events have led to an unpredictable market where supply and demand continue to shift, leaving supply chain, logistics, and transportation professionals scrambling for visibility. As organizations undergo efforts to navigate instabilities in the market, access to readily available and actionable freight rate data has emerged as a strategic priority. In this new context, ocean shipping and air cargo transportation costs have been elevated to company board-level discussions. Additionally, in an increasingly data-driven world, procurement, finance, and other corporate functions cannot operate effectively without data that is fit for purpose.

Xeneta stands in stark contrast to other shipping rate and index solutions by providing organizations with the world’s largest, neutral and most accurate data source of real-time, on-demand ocean container and air freight rate market intelligence, whether for long-term contracts or spot trades. The Xeneta platform delivers the one-two punch that modern companies look for in digitizing their overall freight procurement or selling operations by providing access to an unrivaled amount of rate data (with 10 million rates added a month), as well as incorporating advanced analytics and visualization. The all-in-one platform delivers further value by providing data and insights on capacity, reliability, blank sailings, detention and demurrage, dynamic load factor, emissions data, and more.

Xeneta’s novel crowdsourced approach levels the playing field for ocean and air freight buyers and sellers offering benchmarking, tendering, budgeting, planning, and reporting capabilities. Amidst global supply chain and logistics challenges, Xeneta’s intelligence ensures that companies’ cargoes get to where it needs to be, when it needs to be there, all at the right price.

“While global trade tries to get back on its feet after a couple of years of uncertainty, it’s clear that the overall logistics industry requires a re-think of how freight is bought and sold. This new funding will help us accelerate development of our platform and add even more datasets to enrich our expert industry analyses to further drive transparency in the market,” said Xeneta CEO and Co-founder Patrik Berglund. “We are proud to have a renowned global fund like Apax Digital and its expert operational team to work alongside us as we enter our next stage of growth.”

Mark Beith, Partner at Apax Digital, who joins the company’s Board of Directors, said: “Buyers and sellers of freight have been flying blind in a complex and opaque market. Xeneta’s world-leading dataset and cutting-edge platform provide unique access to granular real-time information and insight, enabling data-driven freight sales and purchases. This delivers compelling value for their blue-chip customer base – not just in sales or procurement, but also in budgeting and reporting, and increasingly in ESG monitoring. We’re thrilled to partner with Patrik and the Xeneta team and help deliver their vision.”

Xeneta’s customer portfolio includes amongst others: Electrolux, Unilever, Nestle, Zebra Technologies, Thyssenkrupp, Volvo, General Mills, Procter & Gamble, and John Deere.

About Xeneta

Xeneta is the leading ocean and air freight rate benchmarking and market analytics platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping and air cargo stakeholders the data they need to understand current and historical market behavior, reporting live on market average and low/high movements for both short- and long-term contracts. Xeneta’s data comprises more than 300 million contracted container and air freight rates and covers more than 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway, with regional offices in New Jersey, USA, Hamburg, Germany, and Copenhagen, Denmark. To learn more, please visit www.xeneta.com.

About Apax and Apax Digital

The Apax Digital Funds specialize in growth equity and growth buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit www.apaxdigital.com.

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

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DIF Capital Partners to acquire Rail First, Australia’s leading rail freight leasing company

DIF Capital Partners (“DIF”), through its DIF Core-plus Infrastructure Fund III (“CIF III”), and Amber Infrastructure Group are pleased to announce they have signed an agreement to jointly acquire Rail First (the “Company”), the leading Australian rail freight leasing company, on a 50-50 basis, from Anchorage Capital Partners.

Rail First offers leasing solutions for rolling stock such as locomotives, as well as intermodal and hopper wagons. The Company’s leasing offering is supported by a growing locomotive and wagon maintenance operation. Rail First has a blue-chip customer base, reflecting a meaningful proportion of Australia’s haulage task, with a well-diversified underling product mix. Typical leases are for 3-5 years, aligning with the underlying haulage contracts. The strength of the Company’s resilient business model was demonstrated during COVID-19, when major intermodal volumes remained steady. Rail First has strong barriers to entry and is expected to benefit from several long-term tailwinds, including the Inland Rail project between Melbourne and Brisbane once operational. Rail First will drive the transition towards lower emission intensity transport offerings, with a proven ESG track record and several long-term initiatives in place.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, said “DIF is delighted to invest in Rail First, as it provides unique access to Australia’s attractive rail leasing market. The Company is well positioned to partner and grow with its customers. We look forward working together with the Company’s experienced management team to offer more environmentally friendly leasing solutions to the Australian rail market.”

Mark Kirkpatrick, CEO of Rail First, added: “We are excited to partner with DIF, given their successful track record of rail and infrastructure investments, globally and in Australia. Their prior experience combined with significant capital commitment to fund our continued growth places Rail First in a strong position to grow alongside our customers.”

The transaction is subject to approval by Australia’s Foreign Investment Review Board. The transaction is expected to close by end-October 2022.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 14 billion in assets under management across eleven closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).

DIF Capital Partners has a team of over 190 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact: Thijs Verburg, t.verburg@dif.eu.

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KKR Launches Highways Infrastructure Trust in India

KKR

Launch marks KKR’s third infrastructure investment trust in India

Strengthens KKR’s ability to pursue opportunities in transportation, renewables, and power

MUMBAI, India–(BUSINESS WIRE)– Global investment firm KKR today announced the launch of Highways Infrastructure Trust (“HIT”), a roads infrastructure investment trust (“InvIT”). HIT is KKR’s third InvIT in India, in addition to Virescent Renewable Energy Trust, India’s first renewable energy InvIT, and India Grid Trust, a leading transmissions InvIT, and marks KKR’s latest development as it scales its infrastructure investment activity in the country. Together, these platforms operate and manage 33 assets valued at over $3.8 billion across 22 states or union territories across India.

HIT’s initial portfolio comprises of six roads assets with a total length of more than 450 kilometers across six states in India. The assets, which include a diversified mix of toll and annuity roads, are located in Gujarat, Madhya Pradesh, Meghalaya, Rajasthan, Tamil Nadu, and Telangana. In addition, HIT is considering a pipeline of acquisition targets, including through its sponsor. The platform possesses significant growth potential and seeks to invest in high-quality assets, including through bolt-on acquisitions.

HIT has been assigned a ‘Provisional AAA/Stable’ rating for its loan facilities from CRISIL, S&P’s India affiliate. The rating reflects the assets’ favorable location and geographical diversity, as well as strong track record of revenue.

HIT’s launch takes place on the back of growing demand to expand India’s road network, the second-largest globally, as passenger traffic and commercial vehicle traffic continue to increase. Today, India’s road network is responsible for 90% of total passenger traffic and the movement of almost 65% of all goods across the country.1

Hardik Shah, Partner at KKR, said, “HIT’s launch is a significant milestone for KKR’s India infrastructure strategy as we deepen our presence in the market. Highways and roads play a critical role in driving India’s economic prosperity and connecting its citizens, and we look forward to enabling further infrastructure creation and expansion as transportation demands continue to grow. With our dedicated platforms across transmissions, roads, and renewables in place, KKR is well-positioned to collaborate with sellers in the private markets and the government through the National Monetisation Pipeline on attractive investment opportunities.”

In Asia Pacific, KKR takes a flexible approach to infrastructure investment and combines local knowledge and capabilities with the Firm’s global industry and operational expertise. Globally, KKR’s infrastructure portfolio spans a broad range of sectors including transportation, renewable energy, power and utilities, water and wastewater, and telecommunications, among others, and manages more than $40 billion in assets.

In India, KKR sees transportation, renewable energy, and electricity transmissions as core to its infrastructure strategy. The launch of HIT additionally strengthens KKR’s longstanding commitment to India. Since setting up its Mumbai office in 2009, KKR has made more than 20 investments in India with more than a dozen active portfolio companies today.

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 Twitter @KKR_Co.

1 India Brand Equity Foundation (August 2022): Roads Industry Report

KKR Media:
Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR & Co. Inc.

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