Ufenau Continuation III closes successfully at EUR 563 million
Pfäffikon (CH) — The Ufenau Continuation III (“UC III”) fund was successfully closed with a volume of EUR 563 million. The fund was set up to invest in the two companies Corius and Altano together with the management teams. The fund will provide additional capital to support the companies’ strong growth and continue the successful buy-&-build strategy that Ufenau V started in 2017.
UC III was capitalized by a group of renowned investors, led by StepStone Group as senior lead and Five Arrows Secondary Opportunities as junior lead, alongside several existing investors in Ufenau. We are proud that we were able to attract such a high-caliber group of international investors for this transaction. In addition, we were able to offer our Ufenau V investors a “win-win” solution, with the opportunity to earn a very attractive return, or to continue the buy-&-build strategy for Corius and Altano by investing in UC III.
Over the past five years, Ufenau V, in successful partnership with the management teams, has driven the strong organic and inorganic growth of Corius and Altano, establishing them as market leaders in the D/A/CH region. Both groups have great potential to further consolidate their respective sectors and also expand internationally. As a result, both companies have increased their sales more than tenfold and made a total of more than 50 acquisitions in the last five years. UC III will continue the successful investment strategy of Ufenau V and use the new capital for further acquisitions and investments to successfully implement the expansion plans of Corius and Altano.
Ralf Flore (photo), Managing Partner at Ufenau: “We are pleased to have successfully closed UC III and to be able to move forward with the next chapter in the development of Corius and Altano. On behalf of the Ufenau team, I would like to thank the new and existing investors who have chosen to participate in UC III. Further, our thanks go to the management teams of Corius and Altano who have done an outstanding job and we look forward to continuing these successful partnerships. We are very confident about the next phase and look forward to continuing to support the expansion and success of both companies.”
Advisor Ufenau Capital Partners:
PJT Park Hill: exclusive placement agent
Legal advice: GÖRG, Arendt & Medernach and Walder Wyss as legal advisors for the UC III transaction.
About Ufenau Capital Partners
Ufenau Capital Partners is an independent Swiss investment group based on Lake Zurich, which advises private and institutional investors on their investments in corporate investments. Ufenau Capital Partners focuses on majority investments in service companies in the DACH region, Spain as well as in the Benelux region active in Business Services, Healthcare, IT Services, Education & Lifestyle and Financial Services. Since 2011, Ufenau has invested in over 240 service companies in Europe. Through a renowned group of experienced industry partners (owners, CEOs, CFOs), Ufenau Capital Partners pursues an active, value-creating investment approach on an equal footing with entrepreneurs and managers. Ufenau closed its seventh fund with a volume of EUR 1.0 billion in the first quarter of this year and manages a total cumulative capital of EUR 2.5 billion.
About StepStone Group
StepStone is a leading global private market investment firm providing customized investment, advisory and data solutions to some of the world’s most sophisticated investors. StepStone manages more than $548 billion in private markets assets. StepStone’s clients include some of the world’s largest public and private pension and sovereign wealth funds, insurance companies, foundations, family offices and private wealth clients. StepStone is a leading investor in the secondary market and acts as a solution-oriented strategic partner for private equity sponsors. Through December 31, 2021, StepStone has entered into more than $7.4 billion in 156 investor-participation and GP-led transactions under its private equity secondary program.
About Five Arrows Secondary Opportunities
Five Arrows Secondary Opportunities (“FASO”) is part of the Rothschild & Co. group’s merchant banking business with EUR 18 billion in assets under management worldwide. Five Arrows deploys Rothschild & Co. capital, along with that of a select group of leading institutional and private investors, through a series of funds specializing in primary and secondary private equity, multi-manager funds and co-investments, and senior and subordinated debt. The company has offices in New York, Los Angeles, San Francisco, London, Paris and Luxembourg.
FASO has been providing customized liquidity solutions to investors and general partners (“GPs”) for nearly two decades. Its proven expertise in complex transactions makes FASO one of the most reliable partners for GP-led secondary transactions in Europe. FASO also shares the guiding principles of Rothschild & Co Group, a strategic and responsible financial services partner known for its creative thinking and innovative investment solutions combined with a commitment to absolute discretion.