Background to and reasons for the Offer. The Joint Bidders believe that there are significant opportunities in the supply of energy in emerging markets, driven by economic and population growth and so demand for power. At the same time, many emerging markets suffer from inadequate infrastructure, difficulties in obtaining financing for, and long lead times to construct, permanent power generation infrastructure and emergency needs following natural or man-made disasters. The Joint Bidders believe that APR Energy, which provides temporary 'turnkey' power solutions at short notice, is well-placed to take advantage of these opportunities. There are only a relatively small number of companies able to provide temporary power solutions globally and the Joint Bidders believe that the barriers to entry remain significant, given the need for significant investment in plant and machinery and long lead times with equipment suppliers, as well as the need to offer an efficient, integrated installation service and a global delivery and logistics capability. In the 3 years to December 2013, APR Energy's revenue and profits grew strongly. More recently, however, APR Energy has faced financial and operational difficulties because of increased geopolitical and global economic uncertainty. These have led to significant threats to APR Energy’s future viability. These difficulties, and the measures taken by the Board to address them, are described in detail in section 5 below. However, the Joint Bidders believe that the need for APR Energy’s ser ices is supported by powerful macro-economic trends and that the longer-term opportunities for its business are highly attractive. Global markets continue to suffer from structural power shortages. New technologies can help close that gap, especially aeroderivative turbines with reduced en ironmenta impacts. This represents not only a significant commercial opportunity but also a means of delivering widespread social benefits in emerging markets by making available cost-efficient and reliable electricity to those who would otherwise have limited or no access to power. APR Energy's improved financial position and stability of ownership following the Offer will provide it with the resources it needs to deliver against its significant opportunity and resume profitable growth.
Background to and reasons for the Offer. Xxxxxx Xxxxxxx has significant experience of investments in similar businesses to Xxxxxxx Xxxxxx, and is confident in the overall prospects of Xxxxxxx Xxxxxx'x businesses and the sectors in which it operates. Xxxxxx Xxxxxxx considers the Xxxxxxx Xxxxxx team to have built a high quality business and intends to support Xxxxxxx Xxxxxx by leveraging its expertise and experience of investing in global financial services companies, including related technology and business service companies. Furthermore, Xxxxxx Xxxxxxx believes there is strong cultural and strategic alignment between Xxxxxx Xxxxxxx and Xxxxxxx Xxxxxx, and is excited to partner with Xxxxxxx Xxxxxx to pursue a shared vision to grow the platform, focusing on expanding client relationships, broadening specialist capabilities and the range of services and technology solutions, deepening geographic coverage, and reinvesting in quality of service and technology. Xxxxxx Xxxxxxx focuses on developing strong working relationships with management teams and being value-added partners to help build long-term value for clients, employees and shareholders.
Background to and reasons for the Offer. Both members of the Consortium are long term investors in the waste management sector and have spent significant time and resource in conjunction with their industry experts evaluating the hazardous waste management sector and Augean in particular. The Consortium believes that Augean represents an attractive opportunity to acquire a highly regarded leader in the hazardous waste management sector. The Consortium recognises the high quality of Augean's strategically located facilities and breadth of customer relationships. With exposure to attractive end markets and further growth opportunities, the Consortium looks forward to working with the Augean management team and supporting the business through its next stage of growth. Both members of the Consortium have extensive experience of investing in the waste management and energy recovery sectors. Historically this has included Biogen, a leading energy from organic waste operator in the UK with 14 plants and complementary composting sites, and Xxxx Group, one of the UK's leading waste management, recycling and energy recovery companies. Through their respective experience investing in the UK waste management sector, both members of the Consortium will provide Augean the necessary financial, technical and strategic support to thrive as a private company.
Background to and reasons for the Offer. The Pagero Board believes that the Offer represents a compelling opportunity to acquire a well- established global provider of supplier automation and electronic document distribution solutions, for digitising the invoicing process, which would serve to strengthen Pagero’s global position in the U.S. and U.K. markets, extend the reach of its smart business network and improve its overall offering, through, inter alia, the addition of Tungsten’s proven capabilities within P2P. In addition, the combination of the two entities will result in increased resources both within sales execution and R&D, focusing on growth opportunities and product development. Certain cost savings and synergies are also expected to arise, thereby creating possibilities for additional investment in the enlarged group’s business. The Pagero Board believes such investment will lead to the creation of sustainable market leading solutions for the enlarged group, in terms of both technology and users, and thereby deliver increased market share. The Pagero Directors further believe that Tungsten represents an attractive strategic and cultural fit with Pagero and have been impressed by the engagement and enthusiasm of the Company’s senior management and key individuals in their interactions to date. Following successful completion of the Offer, when fully integrated, the acquisition will create a business of significant scale with enhanced global opportunities for employees of both entities and significant potential for long-term value creation in an environment of increasing global regulation and technological development driving demand for digitalisation and greater up-take of fully digitised business processes. The Pagero Directors are also of the view that, as part of the Pagero Group, the Company will be released from the requirement to meet the U.K. public equity market’s shorter-term expectations and would be able to eliminate the regulatory burden, constraints and numerous expenses associated with maintaining a U.K. public listing.
Background to and reasons for the Offer. BaltCap For the last 25 years, BaltCap has been one of the most active investors throughout the Baltic region, and since inception has invested in around 100 companies across the CEE. BaltCap’s investment criteria are focused on businesses that seek to evolve and develop with significant upside potential, especially in their growth profile and stature, something demonstrated by Xpediator over the last few years. BaltCap believes with the combination of its financial resources, relevant experience and in-depth knowledge of Xpediator’s end markets, Xpediator will be able to successfully grow in the future years to come. BaltCap intends to support Xpediator’s management in its efforts to continue to grow its core freight forwarding offering in the CEE region and internationally, while also providing expertise to improve operating efficiencies and overhead costs in the UK based businesses. BaltCap believes that, following the Effective Date, it will be able to support Xpediator as it continues to deliver on its strategic objectives, focuses on growing its core freight forwarding activities in the CEE region and will help input to strategic options for logistics operations in the UK and Romania. In addition, BaltCap’s access to patient capital will provide the business with the financial backing required to accelerate its growth both organically and through targeted bolt-on acquisitions. Cogels Investments Cogels Investments believes partnering with BaltCap to leverage the parties combined expertise will enable Xpediator to resolve operational and financial issues in the UK and execute its growth strategy in the CEE region more efficiently and effectively as a private company. Furthermore, one of Xpediator’s primary growth markets is the Baltic region and Cogels Investments believes that partnering with a well renowned private equity firm in the region will enable Xpediator to accelerate its growth in the region and open up new organic and inorganic growth opportunities previously unavailable. Nuoma IR Kapitalas Nuoma IR Kapitalas is the private investment vehicle of Xxxxxx Xxxxxxxxxx. As the managing director and 20 per cent. shareholder of Delamode Baltics UAB, a subsidiary of Xpediator, Justas has a significant role and influence over the success of Xpediator in the Baltic region. Xxxxxx Xxxxxxxxxx will play a leading role in the operation and growth of Xpediator, especially of its freight forwarding division, and the Offer facilitates an alignment of intere...
Background to and reasons for the Offer. The directors of Bidco believe that, as a leader in the Central and Eastern European alcoholic beverages sector, Stock Spirits is an attractive business with significant future growth potential. Stock Spirits benefits from a portfolio of established brands trading in key segments of the market and a strong track record of product innovation. An important consideration to the directors of Bidco is Stock Spirits’ record of operating in a socially-responsible and sustainable manner. Stock Spirits’ management team has significant experience operating in Stock Spirits’ key geographies and has developed a strategy for the business focused on premiumisation, the development of brands and products appealing to younger adults and women, and responsible alcohol consumption. Bidco believes that Stock Spirits’ future growth potential will be realised by supporting management’s existing strategy and also investing in strategic inorganic opportunities, while at all times managing the evolving regulatory environment across its core markets. Bidco believes that significant investment will be necessary to help build a scaled and diversified business. Bidco believes that the future development of Stock Spirits will be best served as a private business, operating with a leaner central overhead, with rapid access to capital and with the benefits of a longer-term investment approach. Bidco believes that Stock Spirits will benefit from the support of CVC, a long-standing investor in Central and Eastern Europe. CVC has a proven track record and deep expertise operating in the region’s consumer sector, underpinned by a history of responsible ownership and job creation.
Background to and reasons for the Offer. MSIP has been following the waste management sector and the broader UK infrastructure market for a number of years and has spent time and resources evaluating the sector in general and Augean in particular. MSIP is interested in the opportunity to gain exposure to the UK hazardous waste market and views Augean as an attractive company operating in this sector, focussing on the energy from waste, construction, industrial and nuclear end markets. MSIP believes that Augean is a high quality business with a network of strategically located facilities, a well-known and respected brand, and a customer base operating on long-term contracts. MSIP also considers Augean’s management team members to be experienced and capable partners to further the future development of the Company. MSIP has extensive experience investing in a variety of infrastructure and infrastructure-like assets. Within the United Kingdom historically this has included investments in Affinity Water, one of the largest regulated water-only companies in the United Kingdom (by revenue), and Eversholt Rail Group, a leading rolling stock company in the United Kingdom. Furthermore MSIP has a track record of acquiring publicly listed companies and investing in regulated utilities. Leveraging MSIP’s extensive experience, MSIP’s team will work closely with management to refine its private company strategy with a long-term perspective to help the Company achieve its full potential and support management in pursuing their strategy. This will include investment in Augean’s existing business to accelerate both organic and inorganic growth and to ensure that Augean continues to be a partner of choice to its customers.
Background to and reasons for the Offer. DWS Infrastructure is a patient long-term infrastructure investor with a proven track record and extensive expertise in unlocking the value of its portfolio companies using its experience, network and ability to deploy further capital in return enhancing investments. Transportation and essential infrastructure represent a core sector of focus for DWS Infrastructure, with multiple investments in the UK such as Corelink, Kelda (the owner of Yorkshire Water) and Peel Ports where DWS Infrastructure has actively supported capital expenditure investments of >£1 billion during its ownership. DWS Infrastructure has also invested in other leading European transportation platforms, including Hansea, a leading Belgian public bus operator, where DWS Infrastructure is supporting the acceleration of its growth strategy and has engaged with the relevant passenger transport authorities ("PTAs") to agree a roadmap for the replacement of the company’s bus fleet with low or zero emission vehicles. As a leading transportation services provider in the UK, with a significant market share and a track record of strong financial performance and predictable long-term cash flows, the Stagecoach business fits with DWS Infrastructure’s investment criteria. DWS Infrastructure has a strong conviction about the UK bus market opportunity on the back of the introduction of Enhanced Partnerships and potential Franchising arrangements expected to drive increases in bus patronage and improvements in the quality of the service of the network. DWS Infrastructure intends to focus on long-term sustainable value creation through continued capital investment in Stagecoach’s asset base, supporting the management team in delivering the business plan. The UK bus sector is at an inflection point as the country looks to (i) decarbonise and transition to low or zero emission vehicles as part of ambitious UK Government plans to reach net zero in the transport sector over the next decade; and (ii) maximise the opportunities from the National Bus Strategy to deliver on the joint improvement plans of local transport authorities and operators to attract people away from private cars towards more sustainable bus travel. The transition to a low carbon footprint sector and the announced improvement of services will require substantial capital investments in the medium to long-term in order to meet the expectations of passengers and the UK Government. As a leading UK bus operator, Stagecoach will play a key role ...
Background to and reasons for the Offer. DWS Infrastructure has a strong track record DWS Infrastructure is a patient long-term infrastructure investor with a proven track record and extensive expertise in unlocking the value of its portfolio companies using its experience, network and ability to deploy further capital in return enhancing investments. Transportation and essential infrastructure represent a core sector of focus for DWS Infrastructure, with multiple investments in the UK such as Corelink, Kelda (the owner of Yorkshire Water) and Peel Ports where DWS Infrastructure has actively supported capital expenditure investments of >£1 billion during its ownership. DWS Infrastructure has also invested in other leading European transportation platforms, including Hansea, a leading Belgian public bus operator, where DWS Infrastructure is supporting the acceleration of its growth strategy and has engaged with the relevant passenger transport authorities ("PTAs") to agree a roadmap for the replacement of the company’s bus fleet with low or zero emission vehicles.
Background to and reasons for the Offer. Cisco is a global leader in networking, offering a wide array of technology solutions and services across networking, collaboration, security, communications and cloud applications. Cisco’s Contact Centre offerings are evolving as its customers move towards Contact Centre as a Service, a trend which has accelerated as more agents work from home. Customer expectations are rising. In a competitive market, businesses now compete not only on products and services, but also on the quality of the interactive experience they can offer to their customers. Cisco’s vision is to create a comprehensive CXaaS offer for customers, offering a platform to provide consistently enjoyable customer experiences. In order to improve the understanding, analysis and optimisation of customer journeys, Cisco added an experience management solution that provides customer sentiment analytics as well as natural language capabilities that enable AI-powered customer interactions. IMImobile offers software and services which allow enterprises to stay constantly connected to their customers and which will allow Cisco to progress its vision of offering a comprehensive CXaaS offering. IMImobile’s services enable enterprises to offer their customers enhanced interactive experiences, for example:
