Tag Archives: Services

Onex to Acquire KidsFoundation

Onex

Toronto, July 19, 2018 – Onex Corporation (“Onex”) (TSX: ONEX) today announced it has agreed to acquire KidsFoundation Holdings B.V. (“KidsFoundation”) in partnership with the existing management team. KidsFoundation is the largest childcare provider in the Netherlands. The transaction is expected to close later this year, subject to customary conditions and regulatory approvals. The terms of the transaction are not being disclosed.
KidsFoundation is one of the highest-rated childcare providers in the country. It offers nursery care for children between six weeks and four years old as well as before and after school care services for children between four and 12 years old. The company provides childcare for more than 30,000 children across 281 centres with approximately 3,750 employees.
“KidsFoundation is committed to a high standard of care and quality for the families it serves, and that is a commitment we want to continue and build on,” said Nigel Wright, a Managing Director with Onex. “We are pleased to be partnering with the KidsFoundation management team and look forward to supporting their growth for years to come.”
“Onex’ strong investment track record and history of supporting the teams it invests alongside makes it an ideal partner for us,” said Jeanine Lemmens, Chief Executive Officer of KidsFoundation. “Our first priority is to provide high-quality care of our children in safe facilities with the best staff. Onex is aligned with the strategic direction of our firm and we are excited to work together in our next phase of growth.”
The investment will be made by Onex Partners, Onex’ private equity platform focused on larger investment opportunities.

About Onex
Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. Onex has more than $32 billion of assets under management, including $6.7 billion of Onex proprietary capital, in private equity and credit securities. With offices in Toronto, New York, New Jersey and London, Onex and the team are collectively the largest investors across Onex’ platforms.
Onex’ businesses have assets of $49 billion, generate annual revenues of $31 billion and employ approximately 207,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more information on Onex, visit its website at www.onex.com. Onex’ security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.

For further information:
Emilie Blouin
Director, Investor Relations
Tel: 416.362.7711

 

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Cetera Financial Group Selects Genstar Capital as Strategic Partner

Genstar Embraces Cetera’s Commitment to the Advice-Centric ExperienceTM and Focus on Financial Well-Being Through an Enriched Client Engagement

Company to Continue Operating Under Current Brand, Culture and Leadership, with Significant Capital for Investments in Future Growth

LOS ANGELES, July 17, 2018 – Cetera Financial Group® (“Cetera”), a leading network of nearly 8,000 financial advisors, today announced that it has partnered with Genstar Capital (“Genstar”), to accelerate the company’s growth and success under its current brand, culture and leadership team.  Genstar is a leading private equity firm focused on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries.  The transaction reflects a shared commitment to Cetera’s Advice-Centric Experience™ model and provides access to significant capital for future investments in technology, customer experience, operations, data and growth platforms for the financial advisors and financial institutions served by Cetera.

Robert “RJ” Moore, CEO of Cetera, said, “The successful conclusion of our capital structure review process represents the next milestone in our company’s strategic transformation that began in 2016.  This outcome affirms our vision for the future of the financial advice profession and creates a powerful partnership to help make this vision a reality for the financial advisors and financial institutions we support.  Working alongside Genstar, our entire organization will continue to serve our advisor community by advancing our Advice-Centric Experience, which envisions a profession driven by high-caliber, planning-based advice for clients.” Mr. Moore went on to say, “This is a unique time in our profession, when the need and desire for financial advice is at its greatest. We believe there continues to be significant opportunities for Cetera to be a compelling leader in the delivery of that advice.”

Going forward, Cetera will continue to operate under a multi-affiliation structure, through two core channels – Traditional and Specialty – that collectively serve the full spectrum of independent advisor businesses and financial institutions.

Under this new partnership, Genstar has entered into a definitive agreement with Aretec Group, Inc., the holding company for Cetera, in a transaction expected to close in the late third quarter of this year.  Under the agreement, the specific terms of which were not disclosed, Genstar will assume majority equity control of Cetera, with Cetera’s leadership team maintaining a meaningful ownership position.

Tony Salewski, Managing Director of Genstar, said, “We’re excited to work closely with the team at Cetera to build on the company’s longstanding leadership in the financial advice space, and to support the growth and success of its nearly 8,000 financial advisors across the country.  From its scale and breadth of solutions, to its leadership team and vision for the future of advice, Cetera is well-positioned to capitalize on long-term secular tailwinds in wealth management. We have deep sector expertise and we see enormous opportunities to promote the long-term success of Cetera, its advisors and institutions to address the rising importance of professional financial advice to help individuals reach their financial goals.”

Genstar’s current and previous financial services investments include Mercer Advisors, AssetMark, Ascensus, Apex Fund Services, Acrisure, ISS, and Strategic Insight.  For this investment Genstar has assembled a strong Board of Directors to help guide the company’s strategic direction. In addition to RJ Moore, CEO of Cetera, Genstar representatives will include Tony Salewski and Sid Ramakrishnan as well as Ben Brigeman, former Executive Vice President for Charles Schwab & Co. who led the company’s Individual Investor (Retail) business; and Hal Strong, formerly Vice Chairman of Russell Investments.

Mr. Moore concluded, “The future of Cetera, its independent financial advisors and financial institutions, and indeed, the broader wealth management profession, has never been brighter.  We thank our advisors, institutions and our employees for their strong support and confidence throughout this process, and we’re excited to continue this journey together.”

The transaction is subject to customary regulatory and other approvals.  Goldman Sachs & Co. LLC served as Cetera’s financial advisors in this transaction, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel for the company.

UBS Investment Bank and Deutsche Bank Securities Inc. served as financial advisors to Genstar, and Willkie Farr & Gallagher LLP served as legal counsel for Genstar.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar has approximately $10 billion in assets under management and targets investments focused on targeted segments of the financial services, industrial technology, healthcare and software industries.

About Cetera Financial Group®

Cetera Financial Group (“Cetera”) is a leading network of independent firms empowering the delivery of professional financial advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions. Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading service provider to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and financial institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations. Advisor support resources offered through Cetera include award-winning wealth management and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology. For more information, visit cetera.com.

“Cetera Financial Group” refers to the network of independent retail firms encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Investment Services (marketed as Cetera Financial Institutions), Cetera Financial Specialists, First Allied Securities and Summit Brokerage Services. All firms are members FINRA / SIPC.

# # #

MEDIA INQUIRIES:

Cetera
Joseph Kuo or Chris Clemens
Haven Tower Group
424 652 6520 ext 101 or 102
kuo@haventower.com
cclemens@haventower.com

Genstar Capital
Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334
chris@tofallipr.com

 

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TA Associates Announces Minority Investment in Prudent Corporate Advisory Services

TA associates

BOSTON, MUMBAI and AHMEDABAD – TA Associates, a leading global growth private equity firm, today announced that it has completed a minority investment in Prudent Corporate Advisory Services (“Prudent”), an independent distributor of mutual fund and other wealth products in India. Financial terms of the transaction were not disclosed.

Founded in 2001, Prudent provides personal and corporate investment planning services through the distribution of mutual funds, bonds, broking and insurance products. The company operates through its network of over 10,000 Independent Financial Advisors (“IFAs”) and has in excess of 18,000 Cr of assets under management (“AUM”). Prudent provides its IFA partners with training and development services, technology platforms to grow and manage their client-base, back-office services, and sales and marketing support. The company is headquartered in Ahmedabad, Gujarat and operates a total of 70 branches across 19 states in India.

“With its IFA-centric business model, multiple service offerings and robust technology platforms, we believe Prudent represents a unique and exciting investment opportunity,” said Aditya Sharma, Senior Vice President, TA Associates Advisory Private Limited, who will join the Prudent Board of Directors. “We look forward to collaborating with the entire Prudent team to help take the company to the next level.”

“TA’s investment is a critical milestone for Prudent as we embark on our next phase of growth and seek to deepen our presence across multiple states and untapped markets,” said Sanjay Shah, Founder and Managing Director of Prudent Corporate Advisory Services. “As an active and respected investor within the financial services vertical, TA has developed a quality reputation of forming trust-based relationships with founders and management teams that lend themselves to positive results. It is evident that TA shares our vision to incorporate additional value creation for our customers and IFA partners, and we are thrilled to have them as part of the Prudent family.”

The Indian asset management industry’s AUM has grown at a compounded annual growth rate (CAGR) of 18% over the last 10 years. As of the end of March 2018, the industry had a total AUM of approximately $338 billion. Furthermore, according to AMFI, the industry’s AUM is expected to grow at a 23% CAGR for the next 5 years and reach $936 billion by 2023.

“Due to growing investor awareness and increasing mutual fund penetration, we anticipate that the Indian asset management space will experience significant long-term growth,” said Dhiraj Poddar, Country Head of India at TA Associates Advisory Private Limited, who also will join the Prudent Board of Directors. “Because of this trend, we have spent a fair amount of time and resources tracking the Indian asset management, distribution and allied services space. We believe that Prudent is well-positioned to capitalize in this large and developing marketplace and can provide notable benefits to India’s growing wealth management sector.”

“Since Prudent’s founding, we have strived to provide the highest quality end-to-end services and training programs for our network of IFAs to ensure that we are positioning them for success,” said Shirish Patel, Chief Executive Officer of Prudent Corporate Advisory Services. “With TA’s investment, we will look to scale the business to meet the evolving needs and goals of our dedicated client base. We welcome TA as an investor in Prudent and are eager to begin working with their talented team of investment and operating professionals.”

DSK Legal provided legal counsel to TA Associates. Shardul Amarchand Mangaldas & Co. provided legal counsel to Prudent.

About Prudent Corporate Advisory Services
Prudent Corporate Advisory Services provides personal and corporate investment planning services through the distribution of mutual funds, bonds and third-party products. In addition to having a large pool of its own clients, Prudent also manages geographically diverse business operations through an exclusive platform for Independent Financial Advisors (IFAs). Prudent provides the advisors with the latest training and consultation, technology, operations, back-office and support for sales and marketing. Prudent distributes its products to approximately 560,000 retail investors through its network of over 10,000 IFAs. The company is headquartered in Ahmedabad, Gujarat and operates a total of 70 branches across 19 states in India. More information about Prudent can be found at www.prudentcorporate.com.

About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Latour acquires Hellberg Safety AB

Latour logo

Investment AB Latour has, through its subsidiary Hultafors Group AB, signed an agreement to acquire Hellberg Safety AB (“Hellberg”) based in Stenkullen, Sweden. Closing will take place with immediate effect.

Hellberg is a specialized supplier of hearing protection, face protection and communication solutions for personal protection purposes. Founded in Sweden in 1962 the company has grown to now have presence in 50 markets with its own R&D, production, assembly and warehouse operations at the headquarters in Stenkullen. Net sales amounted to SEK 66 m in 2017 with a profitability well in line with Latour’s financial targets. The company has around 20 employees.

The acquisition is part of Hultafors Group’s strategy to broaden its portfolio within the PPE area. Through the acquisition Hultafors Group will gain access to a complete portfolio of highly advanced hearing protection products as well direct customer relationships with some well recognized blue-chip companies.

“We are thrilled about this acquisition as we think Hellberg will be a perfect match for Hultafors Group in fulfilling our ambitions within the PPE-area and we see a lot of opportunities going forward when combining the Hellberg portfolio with the Hultafors Group sales network” says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group is a company which we have known for quite some time and we believe that Hultafors Group’s existing customer relations and network in many countries will serve as an excellent foundation in taking the current business of Hellberg to the next level”, say Joakim Ohlander and Colin MacKenzie, previous owners of Hellberg.

As an effect of the acquisition the net debt of Investment AB Latour is expected to increase to around SEK 4.5 billion compared to the net debt level at the end of March 2018 as communicated in the Interim report January – March 2018.

Göteborg, July 6, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Ole Kristian Jødahl, CEO Hultafors Group AB, +47 900 88 305
Jens Eriksson, Director, M&A and Strategy Hultafors Group AB, +46 702 114 601

Hultafors Group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Through its various brands Hultafors Group is represented in 40 countries and has over 11,000 point of sales. Hultafors Group has 700 employees and an annual turnover of about SEK 1.9 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 50 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion. 

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Ardian Growth invests in italian group Seri Jakala

Ardian

Paris, 27 June 2018 – Ardian, a world-leading private investment house, today announces its investment in Seri Jakala, the Italian leader in the outsourcing of marketing services.

Founded in 2000 by Matteo de Brabant, the Jakala Group merged with the Seri Group in 2014 to become Seri Jakala. The company has sales of more than €200 million and more than 40 per cent of its activity abroad. Thanks to its integrated offer, the company can combine its expertise in analytics, big data and customer insight with the use of engagement platforms to optimise marketing performance. This has enabled the company to establish itself as the market leader in Italy and the third-largest player in Europe. The group has a portfolio of more than 400 clients including Carrefour, Tesco, Vodafone and Intesa Sanpaolo.

Matteo de Brabant, founder of the Jakala Group, commented, “Ardian Growth is exactly the international partner we needed to come on board which includes reliable local Italian players. We have an ambitious vision for Seri Jakala, and in this respect, Ardian Growth stood out thanks to its entrepreneurial DNA, its digital expertise and its track record in Italy.”

In addition to supporting the company through Ardian Growth’s strong network and expertise in advising fast-growing companies, Ardian Growth will assist the management team in its strategy to extend the group’s digital offer, while at the same time strengthening its presence across Europe. Investment by Ardian Growth will be made through a club deal alongside the Equity Partners Investment Club (Mediobanca) and the holding companies of several large Italian entrepreneurs.

Laurent Foata, Head of Ardian Growth, added “We have been impressed by how Matteo de Brabant and his team have developed the business’ pan-European activity to a critical mass in less than three years. This club deal illustrates perfectly the entrepreneurial values that we share with the group. We are looking forward to working with Seri Jakala over the coming years.”

Bertrand Schapiro, Senior Investment Manager at Ardian Growth, added, “The Seri Jakala directors have demonstrated that they know how to capitalise on the specificities of the Italian market while at the same time successfully initiating international development. Having engaged closely with the company over several years leading up to this investment, we have been able to – from the very start – put in place a roadmap that allows the group to maintain its unique character while at the same time speeding up its penetration of new markets.”

ABOUT SERI JAKALA

Seri Jakala is the leader in Italy for the outsourcing of marketing services and the third-largest player in Europe. Its offer on integrated services includes defining strategies for client commitment as well as setting up programmes for the development of client loyalty and the use of big data analytics. The company has more than 400 clients and 500 employees.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

LIST OF PARTICIPANTS

Seri Jakala: Matteo de Brabant, Stefano Pedron

Ardian: Laurent Foata, Bertrand Schapiro, Frédéric Quéru

Legal counsel: Giovannelli & Associati (Fabrizio Scaparo, Matilde Finucci)

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Nord-Lock Group acquires main distributor in Spain

Latour logo

Investment AB Latour (publ) has, through its wholly owned business area Nord-Lock Group, signed an agreement to acquire all shares in the distributor IDQ Investigación Diseno y Calidad, S.A.U. (IDQ).
Closing date is planned for the beginning of September 2018.

The acquisition is another natural step in the growth strategy of Nord-Lock Group and will strengthen the local presence in Spain ensuring the levels of service and support that customers expect. Spain is a significant market for bolt securing and tensioning and the aim is to secure the continued strong growth Nord-Lock Group currently achieves.

IDQ had a turn-over of SEK 17 m and 7 employees in 2017.

Göteborg, June 20, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson President and CEO

For further information, please contact:
Graham Souter, Regional Sales Director EMEA, Nord-Lock Group, +44 7917528813

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 53 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.  

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KPMG Sweden sells Business Accounting Services division to IK Investment Partners

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund has reached an agreement with KPMG Sweden (“KPMG”) to acquire its division for accounting, payroll and related advisory services (“Business Accounting Services”). 

Business Accounting Services is a leading provider of accounting, payroll and related advisory services with approximately 300 employees across Sweden. The transaction represents an attractive opportunity for both employees in accounting and payroll administration and for KPMG as a whole.

In February 2018, IK announced the acquisition of Aspia, which operated as a separate division within PwC, supporting over 27,000 small and medium-sized enterprises (SMEs). Aspia is one of the leading companies in accounting, payroll and related advisory services with 71 offices and approximately 1,100 employees across Sweden. The transaction is expected to close 2nd July 2018.

The plan is to integrate Aspia and Business Accounting Services, and the combined entity will operate under the brand name of Aspia. Together, the two businesses had a turnover of more than SEK 1.25 billion.

“Aspia and Business Accounting Services share similar expertise, service offering, customer base and presence as well as cultural heritage. Both companies have a vision to innovate and create new ways of working for SME businesses, especially through our strong digital service offering, and we can’t wait to welcome our new colleagues,” said Magnus Eriksson, Service Line Leader at PwC and Incoming CEO of Aspia.

“The acquisition of Business Accounting Services marks an important milestone for Aspia, and we at IK are incredibly proud to be part of this combination of two great businesses,” said Alireza Etemad, Partner at IK Investment Partners.

“Aspia will give our employees in Business Accounting Services a new home where their expertise is a core skill, with good opportunities to be competitive as well as resources to develop staff skills and drive technology development in the sector. At the same time, KPMG will strengthen its audit agenda and free up resources for strategic efforts in the digital arena and recruiting key employees,” said Magnus Fagerstedt, CEO of KPMG Sweden.

The terms of the transaction were not disclosed. The transaction is subject to customary approvals.

For further questions, please contact:

IK Investment Partners
Alireza Etemad, Partner
Phone: +46 8 678 95 24

Mikaela Hedborg, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

KPMG
Magnus Fagerstedt, CEO
magnus.fagerstedt@kpmg.se
Phone: +46 8 723 91 00

Björn Bergman, Head of Communications
bjorn.bergman@kpmg.se
Phone: +46 708 76 24 53

Aspia
Magnus Eriksson, Service Line Leader at PwC and Incoming CEO of Aspia
Phone: +46 709 29 11 25

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About KPMG
At KPMG we work with our clients to inspire confidence and empower change. What drives us is a desire to pass on business insights and provide expert audit, tax and advisory services tailored to specific industries. Our global network of 197,000 specialists in 154 countries makes us one of the world’s leading knowledge companies. In Sweden we have a strong local presence with 1,700 employees at around 50 locations. Read more at www.kpmg.se

 

 

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CapMan Buyout to sell The North Alliance to Norvestor

Funds managed by CapMan Buyout have agreed to sell their holdings in The North Alliance to funds managed by Norwegian private equity company Norvestor.

CapMan Buyout funds continue to deliver successful exits of portfolio companies with The North Alliance (“NoA”) as the fifth transaction within the last eight months.

Pan-Scandinavian NoA offers an integrated range of services within design, communications, and technology. NoA consists of leading agencies in Sweden, Denmark and Norway with offices in Stockholm, Copenhagen, Oslo, Krakow, Chicago and Los Angeles. In 2017 the net sales of NoA was approximately MEUR 80 in agency fee and it employed approximately 730 persons. Funds managed by CapMan acquired NoA in 2014 and both growth and profitability of the company has developed favourably during the ownership period of CapMan.

“During the last four years since NoA was formed, it has grown into one of the most successful agency networks in Scandinavia and achieved global recognition for its creativity and innovation capabilities. Our strategy under CapMan’s ownership to create a Nordic leader has been achieved through establishment of offices in Scandinavian capitals and through key strategic acquisitions. By working extensively with the right type of integration of these agencies, NoA has managed to come to the market with a unique offering, benefiting from cross selling, operational best practice, centralized back office and PMO functions while increasing the quality in its creative output as demonstrated by the many awards in Scandinavia and internationally. This was of course only possible by having a very skilled and dedicated management team supporting the CEO Thomas Høgebøl, who came to us with this vision in 2013,” says Tobias Karte, Investment Director at CapMan Buyout and responsible for the investment in NoA.

“We have achieved a lot during these four years and the story of NoA is still in its beginning. CapMan has supported me in realizing the vision I had for NoA in a very good way, contributing with expertise and support in how to build a company of this size and realizing the strategic agenda we have had. I am happy that the development of NoA can continue with a new strong owner who is willing to support us further in realizing our vision,” says Thomas Høgebøl, CEO and founder of The North Alliance.

The completion of the transaction is pending certain conditions including approval from competition authorities.

The CapMan Buyout team comprises 12 investment professionals working in Helsinki and Stockholm. The funds managed by CapMan Buyout invest in medium-sized, unlisted companies in the Nordic countries.


For more information, please contact:
Tobias Karte, Investment Director, CapMan Buyout, tel. +46 733 442 896
Thomas Høgebøl, CEO, the North Alliance, tel. +47 950 92 000

CapMan
www.capman.com
@CapManPE

 

CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 28 years. CapMan has today approximately 120 private equity professionals and manages approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Real Estate, Buyout, Russia, Credit, Growth Equity and Infrastructure. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services.

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Ardian arranges unitranche financing for Naxicap Partners’ acquisition of ECS

Ardian

Paris, June 12th 2018 – Ardian, a world-leading private investment house, today announces the arrangement of a Unitranche financing facility to support Naxicap Partners’ acquisition of European Cargo Services (“ECS”), a world leading Global General Sales Agent, managing 900k tonnes of air cargo on behalf of airlines, representing an annual sales volume of over €1bn. The Unitranche package will also include a dedicated committed acquisition facility to support the growth of the Company and finance future build ups.

Founded in 1998 in Paris, ECS Group has built an efficient worldwide network of 137 offices across 47 countries, with over 1,000 staff working as a fully integrated organisation. ECS is a strategic partner for airlines and as their exclusive representative, markets and manages even their most complex cargo requirements.
Its global footprint is the product of both organic and external growth, resulting in a dense global network, with major recent acquisitions such as AVS in Asia (2016) and ExpAir in Canada (2017) strengthening ECS’s position in markets with strong growth potential.

In a market ripe for consolidation, offering a strong pool of build-up opportunities, the Company intends to pursue an active strategy of acquisitions, generating significant commercial synergies, while continuing to extend the range of services offered to clients, providing global and innovative solutions.

Backed by Alpha Private Equity since 2013, the management team selected Naxicap Partners for the next phase of growth, supported by a Unitranche facility provided by Ardian. “With ECS’ clear ambition of selectively penetrating and reinforcing its positions in key areas of its already broad network, the Unitranche alternative stood out as a compelling solution to accelerate the Company’s growth in the next few years” commented Grégory Pernot, Director of Private Debt at Ardian France.

Angèle Faugier, Partner at Naxicap Partners, added: “ECS has demonstrated an amazing growth trajectory under the leadership of Bertrand Schmoll and Adrien Thominet who have succeeded in both developing and structuring the Group around solid fundamentals (high-quality client portfolio, an integrated global network, efficient local teams, premium services). We are convinced that the Group has what it takes to establish itself as the major consolidation platform in the market and to be a driving force for innovation in the cargo industry. We want to provide its management team with the means to put their ambitious development plans into action, and are convinced that the expertise of Ardian, through this Unitranche financing, which grants us flexibility and speed of execution, will enable us to rapidly achieve our goals.”

“We are proud to have convinced Naxicap and ECS’ management team of the merits of our offer, and are delighted to be a key partner of the Group going forward. We have been very impressed by the Company’s historical development and by the quality and loyalty of the management team for over twenty years“ said Guillaume Chinardet, Head of Private Debt France and Managing Director at Ardian. “This is our 108th transaction since the creation of Ardian’s Private Debt activity, reflecting the longstanding track-record of the team since 2005, as well as our capacity to underwrite Unitranches of significant size.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 500 employees working from thirteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of 700 clients through five pillars of investment expertise: Private Debt, Fund of Funds, Direct Funds, Infrastructure and Real Estate.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT NAXICAP PARTNERS

Naxicap Partners is one of France’s leading private equity companies, and an affiliate of Natixis Investment Managers, totaling nearly €3bn of capital under management.
As a committed and responsible investor, Naxicap Partners builds solid and constructive partnerships with entrepreneurs for the success of their projects. The company has 40 investment professionals and 4 offices in France: Paris, Lyon, Toulouse and Nantes.
www.naxicap.fr

LIST OF PARTIES INVOLVED

ECS: Bertrand Schmoll (Chairman), Adrien Thominet (CEO), Raphaël Kokougan (CFO).
Naxicap Partners: Angèle Faugier, Caroline Lachaud, Sarra El Mghari Tabib, Michel Abi Fadel.
Ardian Private Debt: Guillaume Chinardet, Grégory Pernot, Clément Chidiac.
Financing Legal Advisor (Ardian): Willkie Farr & Gallagher – Paul Lombard, Ralph Unger.
PRESS CONTACTS
ARDIAN
Headland
CARL LEIJONHUFVUD
CLeijonhufvud@headlandconsultancy.com
Tel: +44 20 3805 4827

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Ufenau has acquired Kruppert Group

Ufenau

we are pleased to announce that Ufenau has acquired Kruppert Group via the newly founded platform company  Lavatio GmbH.

Kruppert is a well-established textile service company, offering rental textiles and laundry services for its customers consisting predominately of hotels and restaurants. Since its foundation in 1974, the still family-run company has emerged in to a full-service provider due to one of the most modern and state-of-the-art industrial laundry facilities in Germany. Kruppert employs 115 employees and has – besides Its headquarter in Hünfeld (Hesse) a subsidiary in Switzerland.  As a one -stop-shop supplier Kruppert offers a highly efficient portfolio of rental and laundry as well as consulting services for hotel s, restaurants and catering companies (HoReCa). Together with its more than 50 independent laundry partners, the company serves a diversified portfolio of more than 600 customers throughout Germany and Switzerland , including many renowned hotel chains.

“I am very delighted to have found an experienced and financially sound partner for our fast-growing family – run company to further support the future growth. I feel certain that in combination with strategically important add-on acquisitions, we will be able to establish a market-leading Group in the HoReCa segment”, comments Frank Kruppert, the owner and CEO of the Group.

“Kruppert serves as ideal platform in a growing hotel market with an increasing outsourcing and consolidation trend for Ufenau’s Buy-and-Build strategy. Together with Frank Kruppert we aim to deploy the know-how and expertise of the team to strengthen the growth of the Group”, adds Ralf Flore, Managing Partner at Ufenau.

Sincerely, your Ufenau Team

 

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private  investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.

 

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