Transaction signed in June, antitrust clearance achieved
Madrid, 25th October 2023.- Today Portobello Capital, the leading independent midmarket private equity manager based in Spain, announced it has closed the sale of
Grupo CTC to Randstad NV, the world’s largest talent company.

Grupo CTC provides outsourced industrial, logistics and sales & marketing services to
customers in its home market of Spain and in Portugal. The company currently operates
from 14 regional offices and 11 owned logistics facilities, servicing over 200 customers.
Demand for outsourcing services is growing significantly in Spain and, with the proposed
acquisition, Randstad will continue to expand its leadership presence in the region. The
move is in keeping with Randstad’s broader strategic objective of strengthening its
capabilities in value added services for customers in key markets.

“We are investors in the different companies which are now part of CTC since 2006.
During this period, CTC has become the absolute leader in the outsourcing market, and
we want to compliment Juan-Cruz Alcalde and the rest of the management team for
growing this organization to date. We are absolutely convinced that as part of Randstad,
Grupo CTC will continue to accelerate and deliver excellence to its customers in Spain
and Portugal.”

— Luis Peñarrocha, Founding Partner of Portobello
The transaction was signed in July and completion was subject to antitrust clearance,
which was achieved on October 11th.

about randstad
Randstad is the world’s largest talent company and a partner of choice to clients. We are committed to
providing equitable opportunities to people from all backgrounds and help them remain relevant in the rapidly
changing world of work. We have a deep understanding of the labor market and help our clients to create
the high-quality, diverse and agile workforces they need to succeed. Our 46,000 employees around the
world make a positive impact on society by helping people to realize their true potential throughout their
working life.

Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. In 2022, in our 39 markets,
we helped more than 2 million people find a job that feels good and advised over 230,000 clients on their
talent needs. We generated revenue of €27.6 billion. Randstad N.V. is listed on the Euronext Amsterdam.
For more information, see www.randstad.com

about Grupo CTC
Grupo CTC was created through the complementary integration of two leading companies in the outsourcing
industry, Stock Uno, specialized in operational marketing, and CTC Externalización, leader in logistic and
industrial processes. Grupo CTC renders a wide range of high value-add services to customers enhancing
productivity, flexibility, focus on core tasks and capital management. Headquartered in both Madrid and

PORTOBELLO CAPITAL GESTIÓN SGEIC, S.A
ALMAGRO, 36 – 28010 MADRID NIF: A-86262375
Inscrita en el Registro de la Comisión Nacional del Mercado de Valores, nº 92
y en el Registro Mercantil de Madrid, tomo 29.064, folio 80, sección 8ª, hoja M-523.318
Barcelona, Grupo CTC counts with a rich 35 year history in the market, possessing significant capillarity
across 14 branch offices in Spain and Portugal. For more information, please refer to the Grupo CTC website
at www.grupoctc.com/

about Portobello Capital
Founded in 2010, Portobello Capital is a leading independent mid-market private equity manager based in
Spain and operating across Southern Europe. Portobello Capital has assets under management worth more
than 2 billion euros, an experienced team of 40 professionals and a current portfolio of 22 companies. For
more information, please refer to the Portobello Capital website at www.portobellocapital.es/en/

August 8, 2023 – PHILADELPHIA – ToxStrategies, a best-in-class, multidisciplinary scientific consulting firm, today announced the acquisition of Modality Solutions (“Modality”). Founded in 2011 by Gary Hutchinson and Dan Littlefield, Modality optimizes the biopharmaceutical cold chain for novel, fragile, and controlled-temperature medical therapies and provides expert counsel on the complex filing requirements for these advanced drug products. In addition, Modality specializes in shipping validation testing using next generation, multi-modal simulation technologies. Pharmaceutical and biotech clients increasingly depend upon Modality to assist in the development of cold chain operations, as therapies have become more sensitive to changes in temperature. ToxStrategies is a portfolio company of Renovus Capital Partners. Terms of the transaction were not disclosed.

ToxStrategies partnered with Renovus Capital Partners in November 2022 with the goal of expanding its existing client base and developing new end markets. The acquisition of Modality by ToxStrategies brings together two best-in-class consulting firms within the life sciences industry, creating greater diversification across the customer base. Mssrs. Hutchison and Littlefield will continue to lead Modality as a Division of ToxStrategies.

“The partnership between ToxStrategies and Modality is an ideal strategic fit,” said Laurie Couture Haws, President of ToxStrategies. “Our centralized platform will allow us to cross leverage expertise to better serve our clients across life sciences sectors. We are pleased to welcome Gary, Dan, and the Modality team to ToxStrategies.”

Mr. Hutchison added, “We are thrilled to become part of the ToxStrategies platform. The combination of our capabilities will provide continued growth opportunities by allow us to engage with a broader client base, as well as with a with additional segments of the drug development life cycle than before.”

“ToxStrategies has benefitted from being one of several Renovus portfolio companies in the life sciences industry, giving it access to a vast network of relationships, capabilities, and industry expertise,” said Jesse Serventi, a founding partner at Renovus Capital Partners. “We are now excited to support ToxStrategies’ acquisition of Modality, which brings deep expertise in cold chain development and the regulatory processes central to the life sciences industry. We are confident that this acquisition will further enhance ToxStrategies’ capabilities as a leading life sciences consultant and create numerous growth opportunities for the company.”

About ToxStrategies

ToxStrategies is a multidisciplinary scientific consulting firm specializing in toxicology, epidemiology, exposure sciences, industrial hygiene and safety, and regulatory compliance. They are a cutting-edge firm that strives to develop innovative solutions to address the complex scientific, technical, and regulatory challenges confronting their clients. ToxStrategies has a reputation for applying sound science and novel approaches tailored to meet the specific needs of their clients, whether a rapid response or a comprehensive analysis is required. The ToxStrategies’ team of toxicologists, epidemiologists, industrial hygienists, engineers, exposure scientists, modelers, biostatisticians, information specialists, and regulatory specialists are recognized as leaders in their respective disciplines and bring a high level of technical expertise to every project. ToxStrategies has extensive experience assessing potential health risks associated with exposures to a wide variety of consumer products, food ingredients and additives, pharmaceuticals, medical devices, pesticides, industrial chemicals and environmental contaminants. ToxStrategies is headquartered in Texas and has offices and remote consultants throughout the US, Canada and England. For more information, please visit www.toxstrategies.com and on LinkedIn.

Eurazeo, the management team led by Olivier Farouz and Montefiore Investment today announced that they have entered into a strategic financing agreement where funds managed by Blackstone (“Blackstone”) have agreed to provide Groupe Premium with €400m of financing equity. As part of the transaction, Blackstone will also acquire a limited minority stake in the business. Blackstone’s investment will provide Groupe Premium with further flexibility to grow the business. On the financing side, Barings renews its support to the Group with a new debt package of €300m.

The completion of the transaction would value the company at €1.15bn.
Eurazeo and its affiliates would realize a 3.3x cash-on-cash multiple at the completion date, including c.€185m of cash proceeds (of which c.€65m for Eurazeo balance sheet), the remainder of c.€135m being reinvested in the operation.

The transaction remains subject to the approval of the Group’s supervisory authorities.
Eurazeo would retain control of the company, reaffirming its trust in the Group for years to come.

Founded in 2000, Groupe Premium is a leading player in wealth management in France, through its three activities of brokerage in life insurance and retirement savings products through the Predictis and Cap Finances networks, asset management through its subsidiary Flornoy-Ferri and wealth management consulting. The Group manages €8.5bn assets and achieved in 2022 a turnover of €188m, growing of + 80% vs 2021 and aims for a level of activity of €263m in 2023.

In 2018, Montefiore invested in Groupe Premium and supported the acceleration of the company’s development before handing over control to Eurazeo in July 2021. Since Eurazeo’s entry into the capital, Eurazeo has supported the group by providing it with the human and financial resources necessary for its structuration and its development, in particular through the geographical expansion of its network of independent agents in France which counts 1100 partners, and by the creation of the Group’s wealth management consulting division, which today represents €3bn in assets under management and is the result of 8 acquisitions made over the past two years. Over these last five years, sales have been multiplied by ten.

Driven by the renewed confidence of its historical shareholders, the group intends to continue its strong organic growth by continuing to strengthen its product range and digitalization, while accelerating its active external growth policy, both France and internationally.

The company, owned by the investment fund Portobello Capital, acquires Sacyr’s facility management activity through the purchase of Sacyr Facilities. ▪ The transaction is valued at €87 million. ▪ Serveo consolidates its presence in the facility management sector with an estimated consolidated turnover of around €1.5 billion. July 27th, 2023. Serveo, company owned by Portobello Capital investment fund, acquires Sacyr’s facility management business through the purchase of Sacyr Facilities for €87 million. This acquisition, with completion subject to approval from the National Markets and Competition Commission (CNMC), represents Serveo´s consolidation as one of the main operators in the facility management business. With this acquisition, the company is expected to reach a turnover of around €1.5 billion. Sacyr Facilities is Sacyr Group’s division focused on the facility services activity, integrating five major business lines: cleaning, maintenance, facility management, energy services and social services. With presence in Spain and Chile, they have an annual turnover of €380 million with a team of more than 16,000 professionals.

Following the authorization of the transaction by the CNMC, the integration of both teams and portfolio of contracts will be carried out progressively over the coming months, always under the parameters of operational excellence on which Serveo bases its management, and with the aim of minimizing any impact on customers and users.

With this acquisition, Serveo continues with its growth strategy in the facility management market and consolidates its position as one of the main operators in the sector with presence in Spain, Portugal and, with this transaction, in Chile. In this sense, the incorporation of Sacyr Facilities will increase Serveo’s capabilities to continue growing with value-added services, process engineering and operational excellence.

About Serveo
In October 2021, Portobello Capital and Ferrovial announced an agreement where the Spanish fund would acquire a 75.01% stake in Serveo, with Ferrovial retaining 24.99% of the capital, proving its confidence in the consistency of the business and management team. Serveo launched its new brand in March 2022, following the entry of Portobello Capital as a shareholder.
Serveo, with more than 30 years of experience, is a leader in transversal, efficient and sustainable services that drive the growth and development of its clients and society, especially in the health, industry, transport, energy and facility management sectors. With more than 27,000 employees, it has a stable presence throughout Spain, enabling it to manage high impact and complex projects.

About Portobello Founded in 2010, Portobello Capital is a leading independent mid-market private equity firm, based in Spain and investing in Southern Europe. It has more than 2,000 million euros of Assets Under Management, an experienced team of more than forty professionals and a current portfolio of 22 companies.
Communications Department
Cristina Cabrera Angulo
Tel. +34 91 338 83 00
E-mail: comunicacion@serveo.com

Thompson Street Capital Partners (“TSCP”), a private equity firm based in St. Louis, today announced the acquisition of the assets of 5 Star Pest Solutions LLC (“5 Star”) by PestCo Holdings, LLC (“PestCo”), a TSCP portfolio company. Located in Indianapolis, Indiana, 5 Star is a leading provider of commercial pest control services with a focus on multi-family communities in the greater Indianapolis area. With the backing of PestCo’s team and resources, 5 Star is positioned for future growth, while continuing to provide high-quality service to customers. Terms of the transaction were not disclosed.

This is the eleventh investment for PestCo, an acquisition company formed to consolidate the highly fragmented pest control industry.

“5 Star is an established, quality-focused company and we believe a solid way for us to enter the Indianapolis market,” said Jay Keating, CEO of PestCo. “We are excited to enhance growth opportunities for the business while creating opportunities for the 5 Star team.”

“Thompson Street is excited to continue to expand PestCo’s growing presence by entering the Indianapolis pest control services market. We look forward to partnering with the 5 Star team to help the company achieve its next phase of growth,” said Jeff Aiello, Managing Director, TSCP.

London, UK – HarbourVest Partners, a global private markets investment specialist, today announced its partnership with AP7, a Swedish government pension fund, as a founder investor in a new private equity strategy. The $835 million USD anchor investment was made in January 2023 in a new open-ended evergreen private equity solution designed for non-US institutional and High Net Worth (HNW) investors.

HarbourVest has offered a range of solutions which clients can select depending on their specific investment needs since it was founded in 1982. The open-ended nature of this new secondaries and direct co-investment solution further complements this range by including a liquidity-generating mechanism.

The partnership with AP7 is focused on delivering a solution for both institutional and private clients and continues HarbourVest’s commitment to the private client segment. This began in 2007 with the now  London-listed HVPE offering daily liquidity to non-U.S. investors, it continued in 2014 with the launch of a global annual programme offering clients a core diversified solution, and it progressed further in 2016 with the creation of one of the first dedicated private client groups.

HarbourVest’s 40-year private market tenure, scale, and ability to deploy more than $10 billion per annum in direct co-investments and secondaries enables the firm to access a large volume of what HarbourVest believes are quality deals from leading managers across open-architecture solutions.

“Private equity has historically outperformed public markets and offers the opportunity to deliver attractive returns at a time when private and institutional investors are looking for diversity and, if their investment parameters change, liquidity,” said Simon Jennings, Managing Director and head of HarbourVest’s private client group in EMEA and APAC. “This new solution provides this flexibility and access to investment solutions previously only available to very large institutional investors.”

Simon has over 20 years of experience operating at the cross-section of private markets and clients, both in EMEA and APAC.

“During our 20-year partnership with HarbourVest, we have built a relationship based on collaboration, insights, and opportunity,” added Per Olofsson, acting CIO at AP7. “This new open-ended solution presents a compelling opportunity to address AP7’s strategic objectives and continue to shape our private equity exposure achieving both short, and long-term goals.”

Olofsson continues, “While this solution started as a private client initiative, we have seen its effectiveness in helping to augment existing alternative allocations for institutional investors.” ¹

ABOUT HARBOURVEST PARTNERS

HarbourVest is an independent, global private markets firm with 40 years of experience and more than $106 billion of assets under management as of December 31, 2022. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,000 employees, including more than 215 investment professionals across Asia, Europe, and the Americas.  Across our private markets platform, our team has committed more than $55 billion to newly-formed funds, completed over $46 billion in secondary purchases, and invested over $33 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities.

HarbourVest Partners, LLC is a registered investment adviser under the Investment Advisers Act of 1940. This material is solely for informational purposes and should not be viewed as a current or past recommendation or an offer to sell or the solicitation to buy securities or adopt any investment strategy.  The opinions expressed herein represent the current, good faith views of the author(s) at the time of publication, are not definitive investment advice, and should not be relied upon as such. This material has been developed internally and/or obtained from sources believed to be reliable; however, HarbourVest does not guarantee the accuracy, adequacy or completeness of such information. There is no assurance that any events or projections will occur, and outcomes may be significantly different than the opinions shown here.  This information, including any projections concerning financial market performance, is based on current market conditions, which will fluctuate and may be superseded by subsequent market events or for other reasons. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of HarbourVest.

 Nothing herein should be construed as a solicitation, offer, recommendation, representation of suitability, legal advice, tax advice, or endorsement of any security or investment and should not be relied upon by you in evaluating the merits of investing in HarbourVest funds or in any other investment decision. 

CONTACT

Lily Cabianca
+44 207 151 4261
lcabianca@harbourvest.com

ABOUT AP7

AP7 (Sjunde AP-Fonden) is the default alternative within the Swedish Premium Pension system with 5.5 million savers and SEK 1000 billion AUM in global equities, fixed income and alternative investments. With a diversified equity portfolio of more than 3,000 companies, AP7 has an ESG-strategy that focuses on active universal ownership and systemic risks. Read more at www.ap7.se.

1. AP7 is a client of HarbourVest and has invested in a number of HarbourVest products.