Tag Archives: Logistics

Blackstone Announces Majority Stake in the Largest Logistics Park in China’s Greater Bay Area

Blackstone

HONG KONG, November 10, 2020 – Blackstone (NYSE: BX) today announced the acquisition of a majority stake in the Greater Bay Area’s largest urban logistics park for US$1.1 billion from R&F Group, expanding Blackstone’s China logistics portfolio by approximately one-third. Blackstone Real Estate’s opportunistic funds will acquire a 70% stake in the 1.2 million-square-meter logistics park located in Guangzhou, China.

Justin Wai, a Blackstone Real Estate Managing Director based in Hong Kong, said: “Logistics remains among our highest conviction global investment themes and we continue to see strong momentum driven by e-commerce trends. This transaction represents a continuation of Blackstone’s strategy to acquire high quality logistics located in tier-one distribution hubs with ongoing tenant demand. The investment also complements our existing Chinese logistics portfolio geographically, which will total 53 million square feet and give us a presence in 23 cities once the acquisition is complete.”

Cliff Chen, a Blackstone Real Estate Managing Director based in Shanghai, said: “The Greater Bay Area is rapidly emerging as a financial, technology and transportation hub and one of China’s biggest logistics markets. Our scale, expertise in logistics, and the support of dedicated teams on the ground enable us to drive our plans for the park’s future growth including constructing additional cold storage facilities and institutional-quality warehouses to cater to rising demand.”

The Greater Bay Area is a fast-growing metropolitan area comprising 11 cities including Shenzhen, Macau, and Hong Kong. The logistics park is located 15km from Guangzhou International Airport and houses blue-chip tenants across sectors such as third-party logistics (SF Express, YTO Express), e-commerce (Tmall, JD.com), pharmaceuticals (Sinopharm, CR Pharma), and telecommunications (China Mobile, China Telecom).

Blackstone Real Estate operates around the globe and has approximately US$174 billion in investor capital under management. Since 2010, Blackstone has acquired more than 1 billion square feet of logistics globally in more than 200 distinct transactions. In 2019, it announced the largest-ever private real estate transaction globally with the acquisition of U.S. logistics assets from GLP.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $174 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Media Contact:
Ellen Bogard
Ellen.Bogard@Blackstone.com
Tel: +852 3651 7737

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21 Concordia exits Apaczka

21 Concordia has signed an agreement to sell its stake in Apaczka, the #1 e-commerce logistics and shipping platform operator, to Abris Capital Partners, a leading independent private equity fund manager.

Headquartered in Warsaw, Apaczka has been active for over 10 years in the logistics sector, enjoying a leadership position in Poland at the same level of large international shipping groups. Apaczka operates as a technology platform and an integrator, offering comprehensive shipment services for e-commerce stores, SMEs and SOHO (small office / home office) clients.

Acquired by 21 Concordia in 2017, throughout the holding period Apaczka enjoyed strong growth in direct sales and in the volume of parcels sent thanks to several strategic actions carried out. Apaczka completed 6 strategic acquisitions, including the second largest logistics player in Poland and five add-ons aimed at accelerating digital development. Moreover, Apaczka strengthened the managerial structure in the areas of finance, product, marketing and customer service and diversified its supplier base thanks to new agreements reached with international couriers such as GLS.

Apaczka also developed a new international parcel service from Poland to Germany and created a new platform dedicated to private individuals, while investing in online marketing to improve brand positioning.

On the back of these targeted actions, Apaczka today has over 40,000 clients compared to 16,000 at entry and has increased the volume of parcels sent to 8 million compared to 2.4 million in 2016, continuing to record a positive growth trend also during the covid-19 emergency.

Apaczka has a strong growth in sales in the last three years (2017-2020(B)), achieving a CAGR of over 15% and with over 35 million in sales expected in 2020. Apaczka has also doubled its workforce and opened a new branch.

21 Concordia has identified Abris Capital Partner as the ideal partner to continue the dynamic growth path launched in Apaczka.

Marek Modecki, Managing Partner at 21 Concordia, commented: “We are pleased to have actively participated in the growth of Apaczka. Working closely with the management team has allowed a rapid development of the company in one of the most appealing sectors of the moment. We are pleased that the management of Apaczka will be able to continue on this path and tackle new markets alongside a partner like Abris”

Grzegorz Iwaniuk, Co-founder and President of Apaczka, commented: “In addition to pursuing the current strategy of increasing our market share and asserting our leadership position, we plan to accelerate the growth of the business. Indeed, with the support of Abris we will notably develop and implement new solutions for entities operating in the e-commerce industry. Our goal is also to address new market segments with the apaczka.pl online platform.”

Edgar Koleśnik, Partner at Abris Capital Partners, commented: “Apaczka falls perfectly in line with the increasing demand for delivery e-services, allowing to foresee greats prospects for the company’s development. We are convinced that, with the experienced management team in place, we will be able to implement our ambitious plans both in terms of organic growth and acquisitions.”

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21 Concordia exits Apaczka

October 14, 2020

21 Concordia has signed an agreement to sell its stake in Apaczka, the #1 e-commerce logistics and shipping platform operator, to Abris Capital Partners, a leading independent private equity fund manager.

Headquartered in Warsaw, Apaczka has been active for over 10 years in the logistics sector, enjoying a leadership position in Poland at the same level of large international shipping groups. Apaczka operates as a technology platform and an integrator, offering comprehensive shipment services for e-commerce stores, SMEs and SOHO (small office / home office) clients.

Acquired by 21 Concordia in 2017, throughout the holding period Apaczka enjoyed strong growth in direct sales and in the volume of parcels sent thanks to several strategic actions carried out. Apaczka completed 6 strategic acquisitions, including the second largest logistics player in Poland and five add-ons aimed at accelerating digital development. Moreover, Apaczka strengthened the managerial structure in the areas of finance, product, marketing and customer service and diversified its supplier base thanks to new agreements reached with international couriers such as GLS.

Apaczka also developed a new international parcel service from Poland to Germany and created a new platform dedicated to private individuals, while investing in online marketing to improve brand positioning.

On the back of these targeted actions, Apaczka today has over 40,000 clients compared to 16,000 at entry and has increased the volume of parcels sent to 8 million compared to 2.4 million in 2016, continuing to record a positive growth trend also during the covid-19 emergency.

Apaczka has a strong growth in sales in the last three years (2017-2020(B)), achieving a CAGR of over 15% and with over 35 million in sales expected in 2020. Apaczka has also doubled its workforce and opened a new branch.

21 Concordia has identified Abris Capital Partner as the ideal partner to continue the dynamic growth path launched in Apaczka.

Marek Modecki, Managing Partner at 21 Concordia, commented: “We are pleased to have actively participated in the growth of Apaczka. Working closely with the management team has allowed a rapid development of the company in one of the most appealing sectors of the moment. We are pleased that the management of Apaczka will be able to continue on this path and tackle new markets alongside a partner like Abris”

Grzegorz Iwaniuk, Co-founder and President of Apaczka, commented: “In addition to pursuing the current strategy of increasing our market share and asserting our leadership position, we plan to accelerate the growth of the business. Indeed, with the support of Abris we will notably develop and implement new solutions for entities operating in the e-commerce industry. Our goal is also to address new market segments with the apaczka.pl online platform.”

Edgar Koleśnik, Partner at Abris Capital Partners, commented: “Apaczka falls perfectly in line with the increasing demand for delivery e-services, allowing to foresee greats prospects for the company’s development. We are convinced that, with the experienced management team in place, we will be able to implement our ambitious plans both in terms of organic growth and acquisitions.”

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Sovereign backed car park management solutions business Premier Park makes third acquisition

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Sovereign Capital Partners, the UK private equity Buy & Build specialist, is pleased to announce that portfolio company Premier Park, a leading provider of car park management solutions, has acquired Park Watch.

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This is the third acquisition Premier Park has made since Sovereign backed the business in May 2019 to meet the increasing demand for its services through organic growth and strategic acquisitions.

Established in 2012, Park Watch provides car park management solutions to private car parks in the UK. Based in Cheshire, the business manages sites for a range of enterprise, property management agent and SME clients and strengthens Premier’s North West presence. In 2019 Premier Park acquired UK Car Park Management (UKCPM), one of the UK’s largest providers of car park management solutions and Automatic Number Plate Recognition (ANPR) services to enterprise and SME customers. Like Premier, UKCPM installs and manages ANPR cameras and provides patrol services to monitor usage, prevent abuse and ensure legitimate users have parking access. This was followed by the acquisition of Stafford-based iView, a proprietary software business which provides ANPR processing capability to the wider parking sector.

The acquisitions have built the Group to become an integrated and scaled car park management business delivering an end-to-end service with market leading proprietary technology and internal processing capabilities. This latest acquisition takes the total number of sites under management across the UK to over 7,000 and brings the number of staff to c.160.

At the time of Sovereign’s investment in Premier Park Paul Dawson, Group CEO, joined the business. Paul had spent c.18 years working at Capita plc and held various senior management roles including CEO of ParkingEye and divisional MD of Capita Parking Services. Andy Parker, the highly experienced former Group CEO of Capita plc joined the business as non-executive Chairman.

Jonathan Thorne, Director, Sovereign Capital Partners commented:

“Premier Park is a high-quality business led by an exceptional management team. Park Watch, like Premier Park, is operating at activity levels close to pre-lockdown and the Group is performing well. We look forward to continuing to partner the team as Premier Park seeks new opportunities to grow in what is a fragmented and growth market.”

Paul Dawson, Group CEO, Premier Park said:

“This is a really exciting time and I am pleased to welcome Park Watch to the Group. Our business has grown rapidly over the last year and we have fantastic capability which we will continue to develop whilst remaining fully focused on the quality of service we deliver to our clients.”

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Innovestor invests in Shipit – One logistics platform solution for all your parcel shipping needs

Innovestor

Helsinki based Venture Capital firm Innovestor acts as lead investor in Shipit Oy Ab’s funding round. The total size of the round was EUR 800k. In addition to the investment made from our second fund, we were joined by institutional and private investors.

With the rapid growth of e-commerce over the past decade, parcel shipping volumes have increased steadily. This trend has only strengthened during the current covid-19 pandemic. Consumer behavior has in many regards changed for good, driving demand for more effective logistics solutions.

Shipit is a fast-growing Finnish technology company, which has developed a fully automated service platform for parcel and pallet shipment management, targeted particularly for e-commerce stores and SMBs. The company’s story began when Co-founder & CEO Lari Pihjalapuro noticed that Finnish SMB’s struggled to find cost effective ways for shipping internationally, thus limiting their potential for doing international business. How could a Finnish company compete, when shipping costs could easily be the same as the product itself? He set out to change this.

For the customer, Shipit provides value by offering more affordable parcel shipping rates, decreasing the need for own in house logistics team and making everything accessible via a single easy to use platform.

“The company is riding a strong wave with all forms commerce moving online. The team has been capital efficient in ramping-up volumes, and can demonstrate considerable traction on the Finnish market. We are excited to join the ride for the next growth phase”, says Innovestor’s Wilhelm Lindholm.

 

The Finnish parcel market is closing in on almost 90 million in annual shipping volume, and estimated at EUR 700 million in value in 2018. In comparison, the Global Parcel Market is valued at almost USD 380 billion in 2018, up from USD 310 billion in 2016.

As the industry has grown, it has also grabbed the attention of VC investors, who have been active in the sector. Some of the recent examples include: Shippo (USA), backed by Union Square Ventures and Bessemer; PackLink (Spain), backed by Accel and Eight Roads Ventures; Parcel2Go (UK), buy-out by Mayfair Equity Partners.

Shipit has grown strongly since its founding in 2016 and is now the market leader within its category in Finland. With revenue growth up 120% in 2019, and operating cashflow positive, the company currently ships c. 50,000 parcels each month among 4,000 registered customers.

“This investment makes it possible for us to speed up our product development, and even more aggressively aim for growth by bringing further liquidity to our internationalization efforts. All while proactively maintaining our outstanding customer service ensuring it scales as we grow. This is an exciting time for us!” commented Shipit’s Co-founder & CEO Lari Pihjalapuro.

 

 

Contact Information:

Lari Pihjalapuro, CEO, Shipit

lari.pihlajapuro@shipit.fi

+ 358 400 595 188

 

Wilhelm Lindholm, Managing Partner, Innovestor Ltd

wilhelm.lindholm@innovestor.fi

+358 405 811 051

 

Shipit joins our portfolio, which is one of the largest private venture backed portfolios in the Nordics, through the investment from Innovestor Growth Fund II.

Innovestor is a Nordic early-stage venture capital investor, who also offers direct co-investment syndication opportunities and builds growth programs.

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Moving Intelligence B.V. raises capital to accelerate international growth

Surmount Ventures

Volpi Capital and Surmount Ventures invest in Moving Intelligence B.V

ZALTBOMMEL, Netherlands, August 27, 2020 –

Volpi Capital, Pan-European tech buy-out specialist, has made an investment in Moving Intelligence B.V., the Dutch leader in aftermarket vehicle security, fleet management and telematics solutions, alongside co-investor Surmount Ventures, a Dutch venture capital investor. The new shareholders will actively support the management of Moving Intelligence to realize their domestic and international growth ambitions to 10 new European markets over the coming years.

Founded in 1999, Moving Intelligence offers the most advanced services in the fields of vehicle security, trip registration, fleet management, workforce monitoring and asset tracking, using hardware that is invisibly built into vehicles and equipment, and software for information gathering and real-time data processing and visualization. Moving Intelligence is the market leader in the Netherlands and works with a wide range of national and international OEMs, leasing companies, insurers, corporates and SMEs across a broad range of industries including workforce management, asset management and construction, amongst others.

Moving Intelligence has demonstrated impressive growth over the last few years with EBITDA more than doubling over 2017-2019. The company has G4S and Vodafone as global partners, presence in three European countries and 34 employees. The company works for established European car manufacturers, such as Audi, Bentley, BMW, Lamborghini, Mercedes-Benz and Volkswagen and has a broad distribution network of sales and installation partners.

In partnership with Volpi Capital and Surmount Ventures, the company will expand to 10 new European markets and expects to grow with an additional 45 employees across Europe over the coming years. This ambition will be supported by a focus on Moving Intelligence’s core offering and through a targeted buy-and-build strategy. Significant opportunity exists for fleet customers and other mobile assets including working materials, construction, boats, and motorbikes.

Patrick Horst, CEO Moving Intelligence: “We are very pleased to have Volpi Capital and Surmount Ventures on board, who both have a deep industrial knowledge and understanding of our business and market opportunities. We are looking forward to further drive our international expansion and strengthen our leading position in the vehicle and equipment security and fleet management markets. Moreover, this joining of forces creates more room to invest in the technological innovation of our automotive solutions by further improving our own online software platform and mobile app.
We are ready to expand on every level and we do believe Volpi Capital and Surmount Ventures are the right partners with whom to achieve this.”

Marco Sodi, Volpi Capital: “We have been researching the security and telematics solutions for the automotive sector for many years and when we started talking with Patrick and Moving Intelligence, the strengths of the company and management team were immediately apparent. We are especially motivated by the growth prospects for the company, particularly across B2B markets and internationally. Through our focus on tech-enabled B2B software, data and services, we have a good understanding of Moving Intelligence’s business model and the opportunities that lie ahead. Looking at their solid track record, established client base, thorough market research and innovative solutions we are confident they will fulfill their ambition to bring vehicle and equipment security to additional European markets over the next few years. We are looking forward to working with such a successful entrepreneur and supporting the team on their journey.”

Roelof Bijlsma, Surmount Ventures: “We are always looking for companies that challenge the status quo and bring innovation with impact. Moving Intelligence is such a company. They are unique in developing their own solutions which can be applied to a wide range of mobility services. Serving a large market, we see a lot of growth potential, especially across Europe. I am confident we can support them in creating significant growth.”

The vision, strategy and culture of Moving Intelligence will be consistent with the new investment partners. Furthermore, Moving Intelligence will continue to give its customers the same support and service it has always done. The company plans to accelerate its international growth in the upcoming years and to further invest in innovative asset software solutions.

ABOUT MOVING INTELLIGENCE Founded in 1999, Moving Intelligence enables management of all things moving. With hardware they integrate invisibly and software that makes information visible. The company offers the most advanced services in the field of security, trip registration, fleet management and sustainable mobility, allowing clients to monitor, control and safeguard all things moving worldwide. The company serves a wide range of clients: multinational or retailer, fleet manager or proud owner of a vintage car. Moving Intelligence has over 20 years of experience, is market leader in the Netherlands and has established presences in Belgium and Greece. https://movingintelligence.com/en/

ABOUT VOLPI CAPITAL

Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven
approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value
chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive transformative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.
http://www.volpicapital.com

ABOUT SURMOUNT VENTURES

Surmount Ventures is a specialist Dutch mid-market private equity firm. Lead by entrepreneur-investors Surmount is looking for companies that challenge the status quo and bring new ideas to life. We are open to invest across every sector where financial success creates meaningful impact. Our main focus is on companies bringing innovation with impact to their market segment and customer base. The firm, which was founded in 2019 by Roelof Bijlsma and Rene Schelvis, closed its first fund (Surmount Growth and Innovation Fund I) in June 2020 with commitments of €44 million. https://surmount.ventures/

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Speed Group secures logistics contract

Ratos

Speed Group has been entrusted by an existing customer to expand operations in a business including traditional storage services as well as production-focused assembly and configuration services. The four-year contract is expected to generate additional sales of approximately SEK 100m per year and will commence in 2021.

“We are delighted to win new contracts in these times and to be given the opportunity to substantially increase our business with one of our most important customers. This is a result of long-term development efforts, in which our team proactively presented solutions that provide the customer with more efficient logistics,” says Mats Johnson, CEO of Speed Group.

“I am proud of the management and the company’s employees who have successfully worked to turn around the profitability trend for the company in the past year. The new contract from this existing customer is a confirmation that Speed Group supplies cost-efficient services with high quality and customer satisfaction. The company is now further solidifying its position as a leading third-party logistics player in the Nordic market,” says Christian Johansson Gebauer, Chairman of the Speed Group Board and Head of Business Area Construction & Services at Ratos.

Speed Group offers flexible solutions in logistics, staffing, recruitment and training. The company is one of the Nordic region’s leading third-party logistics (3PL) providers, with effective automation solutions and a total of just over 150,000 square metres of warehouse space in Borås, Gothenburg and Stockholm. At 30 June, rolling 12-month sales for Speed amounted to SEK 717m and the EBITA margin was 6%.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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DIF Capital Partners to acquire a stake in TTIA Container Terminal

DIF

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund I (“CIF I”), and French shipping giant CMA CGM, are pleased to announce that they have signed a sale and purchase agreement with HMM for the acquisition of a 50% less one share stake in the TTIA Container Terminal in Algeciras, which is located on the Spanish side of the Strait of Gibraltar. TTIA is currently 100% owned by HMM, the largest South Korean shipping line.

TTIA is a modern semi-automatic container terminal, strategically located in the bay of Algeciras, at the Strait of Gibraltar directly on the main shipping routes for containerized maritime traffic to Asia, Europe, the Mediterranean, North and West Africa as well as North and South America. Such a strategic location has allowed the terminal to maintain strong volumes despite the Covid-19 crisis. TTIA operates under a concession provided by the Port of Algeciras Bay Authority which runs until 2043.

TTIA will benefit from long-term support from both HMM and CMA CGM, who as major shipping companies and port operators, have decided to join forces to support and develop this strategic terminal.

Thomas Vieillescazes, partner of DIF, says: “We are delighted to initiate this partnership with CMA CGM, investing alongside world-leading shipping companies and port operators. TTIA is a modern and well-managed terminal, strategically located at the Strait of Gibraltar, with partners providing long-term volume support, making this an attractive investment for CIF I”.

The completion of the acquisition remains subject to certain conditions precedent, including antitrust and Algeciras Port Authority consents.

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.

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Ratos – Speed Group secures logistics contract

Ratos

Speed Group has been entrusted by an existing customer to expand operations in a business including traditional storage services as well as production-focused assembly and configuration services. The four-year contract is expected to generate additional sales of approximately SEK 100m per year and will commence in 2021.

 

“We are delighted to win new contracts in these times and to be given the opportunity to substantially increase our business with one of our most important customers. This is a result of long-term development efforts, in which our team proactively presented solutions that provide the customer with more efficient logistics,” says Mats Johnson, CEO of Speed Group.

“I am proud of the management and the company’s employees who have successfully worked to turn around the profitability trend for the company in the past year. The new contract from this existing customer is a confirmation that Speed Group supplies cost-efficient services with high quality and customer satisfaction. The company is now further solidifying its position as a leading third-party logistics player in the Nordic market,” says Christian Johansson Gebauer, Chairman of the Speed Group Board and Head of Business Area Construction & Services at Ratos.

Speed Group offers flexible solutions in logistics, staffing, recruitment and training. The company is one of the Nordic region’s leading third-party logistics (3PL) providers, with effective automation solutions and a total of just over 150,000 square metres of warehouse space in Borås, Gothenburg and Stockholm. At 30 June, rolling 12-month sales for Speed amounted to SEK 717m and the EBITA margin was 6%.

For further information, please contact:
Christian Johansson Gebauer, Head of Business Area Construction & Services, Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98, helene.gustafsson@ratos.se

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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DIF Capital Partners to acquire a stake in European railcar leasing company Touax Rail

DIF

DIF Capital Partners (“DIF”), through its DIF Core Infrastructure Fund II (“CIF II”), is pleased to announce that it has signed an agreement to acquire a 49% stake from the Touax Group in Touax Rail Limited (“Touax Rail” or the “Company”), a leading European rail freight leasing company, via a capital increase of €81.9 million. The investment by CIF II will enable Touax Rail to accelerate the development of its long-term leasing activities of freight wagons.

Touax Rail is offering tailor-made and environmentally friendly solutions for leasing rail equipment such as intermodal, car carrying, hopper, box and tank wagons. Services offered comprise leasing, sale and maintenance of freight railcars. The Company has a fleet size of c. 6,930 owned platforms and c. 4,080 managed platforms. Touax Rail is fully certified to manage and maintain wagons used on the mainline railway tracks in Europe.

The transaction will strengthen the position of Touax Rail by increasing its capacity to grow and finance the needs of its customers. The capital increase will be primarily used to buy out minority shareholders and to finance the acquisition of new wagons.

Fabrice Walewski, CEO of Touax Group, said: “We are very delighted to have DIF Capital Partners as partner to accompany the development of our long-term leasing activities of freight wagons. With this transaction, Touax Rail will strengthen its position in the market.”

Carl Jobst von Hoersten, partner and head of DIF Germany added: “This transaction is a unique investment providing exclusive access to the attractive railcar market. Touax Rail is a well-established, asset heavy railcar platform with a robust and resilient business model which is well-positioned for growth. We look forward working together with Touax Rail’s highly experienced management team to further grow the platform.”

The transaction is subject to approval by the German antitrust authorities. Parties expect to close the transaction by the end of September.

About Touax Group

Touax Group leases out tangible assets (freight railcars, river barges and containers) on a daily basis throughout the world, for its own account and on behalf of third party investors. With €1.2 billion under management, Touax Group is one of the European leaders in the operational leasing of this type of equipment. For more information: www.touax.com

About DIF Capital Partners

DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.5 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF Capital Partners invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia through two complementary strategies:

  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the telecom, energy and transportation sectors.
  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, utilities and renewable energy projects with long-term contracted or regulated income streams.

DIF has a team of over 145 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact: Thijs Verburg, IR & BD; t.verburg@dif.eu.

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