IMAP The world’s leading global M&A partnership since 1973

www.imap.com IMAP Dealbook 2017-2018

IMAP Dealbook 2017-2018 Contents

Foreword 6

About IMAP 8

12 18 28 38 Automotive Building Business Consumer Products Services & Retail & Services

76 86 98 106 Healthcare Industrials Materials, Real Estate Chemicals & Mining 48 52 58 66 Education Energy Financial Food & & Training & Utilities Services Beverage

112 128 Technology Transport & Logistics Jurgis V Oniunas IMAP Chairman

“We deliver, transaction after transaction, intimate industry-related knowledge, excellence in execution and the very best tailored M&A financial advice.” 7 Foreword

There is little room for doubt that we are close deals across sectors and on a global living in unsteady times. World trade is under scale. Thanks to ongoing commitment, cross- pressure amid rising protectionism and the border collaboration and distinguished sector geopolitical system is going through tectonic expertise, IMAP continues to hold its position as shifts. Technological disruption, demographic one of the world’s leading global M&A advisories imbalances and immigration are also having an for the mid-market. We know our clients come impact. Moreover, there is a rising realization back to us because we deliver, transaction after that the business cycle may soon reverse transaction, intimate industry-related knowledge, into recession. And yet, at IMAP we remain excellence in execution and the very best positive about the promise of opportunity from tailored M&A financial advice. major advances in science, technology and medicine, changing the way we think about About 35% of IMAP deals are cross-border, many issues, from logistics to aging. Innovation although collaboration and cooperation and disruptions in these fields will likely shape from IMAP partners are key in almost markets and drive deal making in the years all of our transactions. Our advisors are ahead. constantly working together to leverage the collective experience of more than 350 M&A Momentum from the 2017 M&A market carried professionals. IMAP excels in the Industrial and over to 2018, with more than $2 trillion in deals Technology sectors, which represent more than announced globally in the first half of 2018. a quarter of all transactions, with Consumer & Several blockbuster deals drove this record Retail, Food & Beverage and Building Products & figure, although mid-market transactions worth Services following close behind. up to $500mn represented a major portion of deal activity. While dealmakers are wondering Today, the IMAP team is further strengthened how long the M&A boom will continue as the by the addition of two new partners. Earlier this potential for a slowdown emerges on the year we welcomed Verdant Capital from South horizon, IMAP is on track to close more than 200 Africa, which brings the number of IMAP offices deals in 2018. in Africa to eight. In addition, IMAP partner Capstone Partners announced a strategic The following publication showcases IMAP merger with Headwaters to form Capstone transactions over the last 12 to 18 months, Headwaters, now one of the largest independent reflecting our track record of helping clients investment banks in the USA.

8 About IMAP

About IMAP

Founded in 1973, IMAP is one of the first Deals by Sector 2015-2017 and worldwide leading organizations for Mergers & Acquisitions. IMAP is located in 39 countries with more than 350 M&A advisors organized in international Automotive 3% sector teams. Building Products 4% 9% IMAP is specialized in the sale and the & Services acquisition of companies, as well as on Transportation & Logistics strategic corporate finance advisory. Our customers are primarily family- 16% 23 20 51 Business owned, mid-sized companies, but also Technology 94 Services 7% include large international corporations, 43 as well as family offices and financial 3% Consumer investors. Real Estate 17 & Retail 10% 60 6% 33 IMAP advisors successfully execute Education & Training 2% about 200 transactions per annum with Materials, 14 a transaction volume of approximately Chemicals & Mining 24 Energy $10 billion. 78 4% 13% 34 & Utilities Industrials 39 54 Financial Services 6%

7% Food & Beverage 9% Healthcare

Deals by Region 2015-2017

Asia, Middle East & Africa 9% 50

Nordics 12% 72 43% 251 Central & Western Eastern Europe 73 Europe 13%

138 24% Americas

9

IMAP Global Presence

39 350+ COUNTRIES ADVISORS

Argentina I Belgium I Bosnia & Herzegovina I Brazil I Canada I Chile I China I Colombia I Croatia I Czech Republic I Democratic Republic of Congo I Egypt I Finland I France I Germany I Ghana I Hungary I India I Ireland I Italy I Ivory Coast I Japan I Mauritius I Mexico I Morocco I Netherlands I Norway I Peru I Poland I Russia I Senegal I Serbia I Slovenia I South Africa I Spain I Sweden I Turkey I United Kingdom I United States

Automotive 12 Automotive

Muhr und Bender KG Capvis Equity Genuine Parts JSHG, s.r.o. Leading automotive Partners AG Corporation Plastic, steel and supplier Private equity investor Distributor of automotive composite components Germany Switzerland replacement parts Czech Republic United States Acquired 100% of Acquired Majority Control Acquired 100% of Business Operations of Business Operations Acquired 100% of Company Business Operations INAUXA S.A. and EDAI Felss Holding GmbH TMW, a.s. Global Tier I automotive Automotive supplier of Empire Wire & Supply Vehicle and machinery supplier cold-formed components Manufactures custom components Spain Germany cable assemblies Czech Republic United States Advised on Purchase of Advised on Sale of Advised on Sale of Company Company Advised on Sale of Company Company Advised Mubea, an Advised the owner of Felss Advised TMW, a automotive supplier Group, a technology leader Advised Empire Wire manufacturer of vehicle and specializing in the in the field of cold-forming and Supply, a provider of machinery components, production of high-impact of hollow parts for the custom cable assemblies, on its sale to JSHG, a spring components, on automotive industry, on the on its sale to Genuine Parts manufacturer of plastic, its purchase of INAUXA, a sale of a majority stake to Corporation, an automotive steel and composite global Tier 1 supplier to the Swiss private equity group parts and supplies components. automotive industry. Capvis. wholesaler. 13

Recawi Holding AB Assystem S.A KOH-I-NOOR Rhiag S.p.A., part of Family owned industrial Listed engineering MACHINERY a.s. LKQ Corporation company services company Industrial holding group Leading distributor of Sweden France Czech Republic automotive spare parts Italy Acquired 90.1% of Shares Acquired 100% of Acquired 100% of Business Operations Business Operations Acquired 100% of JABA Group AB Business Operations Compression molding Engineering Partner LPS Automotive, s.r.o. and assembly of fiber Automotive Plastics injection SiM Impex d.o.o. material Swedish engineering moulding for automotive Distributor of automotive Sweden company Czech Republic spare parts Sweden Bosnia and Advised on Sale of Advised on Sale of Herzegovina Company Advised on Purchase of Company Company Advised on Sale of Advised JABA Group, KOH-I-NOOR MACHINERY Company an industrial company Advised listed engineering acquired LPS Automotive, a focused on compression services company manufacturer of molds for Rhiag, part of LKQ molding and assembly of Assystem on the purchase the automotive sector. Corporation, leading fiber materials, on its sale of Engineering Partner distributor of automotive to family owned industrial Automotive Nordic, a spare parts, acquired Sim company Recawi Holding. specialist of engineering Impex. services rendered to the automotive and industrial markets in Sweden. 14 Automotive

Bradford Coatings LLC Inducore AB Total Specific Vara Maskinimport AB Coatings manufacturer Swedish industrial group Solutions B.V. Swedish machine United States Sweden Vertical market software importer group Sweden Acquired 100% of Assets Acquired 100% of the Netherlands Shares Acquired 100% of Bradford Industries Acquired 100% of Business Operations Inc. Axipto AB Business Operations Coatings manufacturer Subcontractor mainly to Ottosson Truck AB United States heavy truck industry Infoflex Data AB Exclusive reseller of Sweden Software solutions for Hyundai forklifts in Advised on Sale of the automotive industry Sweden Company Advised on Sale of Sweden Sweden Company Advised on Purchase of Advised on Sale of Advised Bradford Industries, Company Company a producer of coated fabrics Advised Axipto, a and synthetic leathers for subcontractor mainly to the the automotive industry, heavy truck industry on the Advised Total Specific Vara Maskinimport, a on its sale to Bradford sale of 100% of its shares Solutions, a vertical market Swedish machine importer, Coatings. to Inducore, a Swedish software group, on the acquired Ottosson Truck, industrial group. purchase of Infoflex Data, the exclusive reseller of a company specialized Hyundai forklifts in Sweden. in software solutions for dealers, repair shops and wholesalers in the automotive industry. 15

Kopecky Auto Undisclosed Buyer AUTO IN s.r.o. Sievi Capital Oyj Car dealership Private investor Leading Czech Ford PEG listed on Helsinki Czech Republic Belgium dealership Stock Exchange Czech Republic Finland Acquired 100% of Acquired 100% of Business Operations Business Operations Acquired Business Acquired Majority Control Operations of Business Operations Auto Grál s.r.o. Garage Jos Van Dijck BMW dealer bvba Rudolf Homolka Suvanto Trucks Oy Czech Republic Distribution of cars Regional Ford and Volvo Dealer and assembler of (Toyota) dealership used and new trucks Advised on Sale of Belgium Czech Republic Finland Company Advised on Sale of Advised on Sale of Advised on Sale of Advised Auto Gral, a BMW Company Company Company car dealership, on its sale to Kopecky auto dealership. Advised car dealership Advised regional car Advised Suvanto Trucks, a Garage Jos Van Dijck dealership Rudolf Homolka provider of new and used on the divestment of its on its sale to leading Czech trucks, on its sale to Sievi entire share capital to an dealership AUTO IN. Capital, a listed private undisclosed acquiror. equity group.

Building Products & Services 18 Building Products & Services

Sumitomo Forestry Sumitomo Forestry Sumitomo Forestry Sumitomo Forestry America, Inc. America, Inc. America, Inc. America, Inc. US subsidiary of multi- US subsidiary of multi- US subsidiary of multi- US subsidiary of multi- national wood products national wood products national wood products national wood products company company company company United States United States United States United States

Acquired 100% of Acquired 60% Interest in Acquired Majority Control Acquired Majority Control Business Operations Seller’s business of Business Operations of

Crescent Dan Ryan Builders Mark III Properties, EDGEhomes Communities, LLC Group LLC Residential homebuilder Residential and Residential land Property management United States commercial builder development and United States United States construction Advised on Purchase of United States Advised on Purchase of Company Advised on Purchase of Company Company Advised on Purchase of Advised Sumitomo Forestry Company Advised Sumitomo Forestry America, a unit of Japan- Advised Sumitomo America on the acquisition based Sumitomo Forestry, Forestry America on the Advised Sumitomo Forestry of Mark III Properties, a on the acquisition of an acquisition of residential America on the purchase Clearwater-based residential undisclosed majority and commercial builder of a 60% interest in DRB property manager. interest in housing Crescent Communities. Enterprises LLC, a housing contructor EDGEhomes. construction company. 19

Daiwa House Intera Partners Equity Modern Niagara EUROVIA GmbH Leading home builder Fund III Mechanical contractor Construction company and real estate company Buyout fund Canada for infrastructure projects Japan Finland Germany Acquired 100% of Acquired Strategic Acquired Majority of Business Operations Acquired Majority Control Minority Ownership Shares of Business Operations Keith Plumbing & VBHC Wise Group Finland Heating Co. Ltd THG Baugesellschaft Affordable housing Oy Mechanical contractor mbH developer Building consultancy, Canada Construction company India engineering and for railway projects management Advised on Sale of Germany Advised on investment in Finland Company company Advised on Sale of Company Advised on Purchase of Advised mechanical Advised Daiwa House Company contractor Keith Plumbing Industry of Japan, a leading & Heating on its sale to Advised THG home builder and real estate Advised private equity mechanical contractor Baugesellschaft, a railway company, on the acquisition firm Intera Partners on the Modern Niagara. project construction of an undisclosed minority purchase of Wise Group, company, on its sale to stake in VBHC Value a provider of construction EUROVIA, a transportation Homes, a Bangalore-based and engineering consulting infrastructure construction housing constructor. services. company. 20 Building Products & Services

Storskogen Stykket Isachsen Stykket Isachsen Stykket Isachsen Industrial conglomerate Holding AS Holding AS Holding AS Sweden Investment company Investment company Investment company Norway Norway Norway Acquired 100% of Business Operations Acquired Majority Control Acquired Majority Control Acquired Majority Control of Business Operations of Business Operations of Business Operations Telarco Excavation work and non- Utleiesenteret AS Akershus Utleie AS Hoydespesialisten AS building construction Rental of machinery and Rental of machinery and Rental of machinery and Sweden equipment equipment equipment Norway Norway Norway Advised on Sale of Company Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Advised Telarco, a provider of construction excavation Advised Utleiesenteret, a Advised Akershus Utleie, a Advised Høydespesialisten, and electrical installation machinery and equipment machinery and equipment a machinery and equipment services, on its sale to rental company, on its sale rental company, on its sale rental company, on its sale industrial congolmerate to investment company to investment company to investment company Storskogen. Stykket Isachsen Holding. Stykket Isachsen Holding. Stykket Isachsen Holding. 21

Industrie Holding Mangrove Equity and Pamica 2 AB Egger GmbH Hunter Equity Swedish private equity Holzwerkstoffe GmbH Sales and services for Private equity firm company Family owned company construction machinery United States Sweden producer of wood-based Austria panels Acquired 100% of Acquired Majority Control Austria Acquired 100% of Business Operations of Business Operations Business Operations Acquired Selected Assets R.C. Rasmussen Corp. Ställning Karlskoga of Profirent Supplier of marine AB General equipment rental building products Sale of scaffolding and Masisa Argentina S.A. Hungary United States related products Masisa’s Argentinian Sweden industrial operation Advised on Sale of Advised on Sale of Argentina Company Company Advised on Sale of Company Advised on Sale of Advised Oriens, a leading Advised R.C. Rasmussen Company Hungarian private equity Corporation, a leading Swedish private equity firm on the sale of supplier of marine products, firm Pamica acquired a Egger Holzwerkstoffe, an equipment rental company on an investment in the majority interest in Ställning Austrian family-owned Profirent to Industrie business by Mangrove Karlskoga, a provider of producer of wood-based Holding, a top provider of Equity Partners and scaffolding and related panels, acquired the construction machinery and Hunter Equity Capital. RC products. Argentinian industrial services in the CEE region. Rasmussen rents and sells operations of Masisa. heavy equipment used in marine-related construction. 22 Building Products & Services

Celulosa Arauco y Veka AG Tammex, S.A. de C.V. Private Investor Constitución S.A. World’s largest extruder Manufacturer of steel Private investor World-class player in of uPVC profiles furniture and kitchens Belgium forestry products industry Germany Mexico Chile Acquired 100% of Acquired 50% Stake Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations NCL Wintech India Labis Koeltechniek Limited Industrias Quetzal, S bvba Masisa do Brasil Ltda. India’s largest de RL de CV Construction of cooling Masisa’s Brazilian manufacturer of uPVC Manufacturer and retailer cells and materials industrial operation profiles of residential kitchens Belgium Brazil India Mexico Advised on Sale of Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Company A private investor acquired Celulosa Arauco y VEKA Group acquired Tammex, a steel furniture Labis Koeltechniek, an Constitucion, a world- a majority stake in NCL and kitchen manufacturer, air-conditioning equipment class player in forestry Wintech, a subsidiary of the acquired Quetzal, a manufacturer. products industry, Indian-based NCL Group, manufacturer and retailer of acquired the Brazilian India’s largest manufacturer residential kitchens. industrial operations of of uPVC profiles. Masisa, a manufacturer and wholesaler of wood products such as boards, panels and doors, used in interior architecture. 23

EEG Group Instalco Sverige AB External Manager Mohawk Industries Construction and Nordic technical Manager World’s largest flooring engineering installation company France manufacturer Belgium Sweden United States Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations Business Operations CMC Agencement Verwarmingstech- Teknisk Ventilasjon Layout and installation Cerámica San Lorenzo nieken Verelst bvba AS for food industry shops (North American Renovation of boiler Indoor climate solutions France operation) rooms Norway Ceramic tile Belgium Advised on Sale of manufacturer Advised on Sale of Company Mexico Advised on Sale of Company Company Advised CMC Agencement, Advised on Sale of Teknisk Ventilasjon, provider of store layout and Company EEG Group, a commercial specialized in ventilation and installation services for building construction indoor climate solutions, food shops, on its sale to an Advised Cerámica San company, acquired was acquired by Instalco, external manager. Lorenzo, Mexico based Verwarmingstechnieken one of the leading Nordic subsidiary of ceramic tile Verelst, a plumbing, heating companies in the plumbing, manufacturer Etex, on its and air-conditioning electricity, ventilation and sale to Dal-Tile, a division of contractor. cooling sector. the world’s largest flooring manufacturer Mohawk Industries. 24 Building Products & Services

Keller AG Rowley Company ORIENS Private Equity Idea Capital Funds Minimal windows Decorative window Private equity investment Private equity fund manufacturer hardware and supplies fund Italy Luxembourg United States Hungary Acquired 100% of Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Business Operations Business Operations Targetti Sankey S.p.A. Hofstädter Faipari Kft. Fleuron Enterprises Pro Container, s.r.o. Manufacturer of Wood and wood- Decorative window Manufacturer of steel architectural lighting aluminium windows hardware frames for modular fixtures manufacturer United States containers Italy Hungary Czech Republic Advised on Purchase of Advised on Sale of Advised on Purchase of Company Advised on Sale of Company Company Company Advised Rowley Company, Advised on the sale of Advised the minimal an industry leading provider Advised Pro Container, Targetti Sankey, leader in window manufacturer Keller of window hardware, on a manufacturer of steel the indoor and outdoor AG. The company acquired the purchase of Fleuron frames for modular architectural lighting sector, 100% of the wood and Enterprises, a manufacturer containers, on its sale to to IDeA Capital Funds. wood-aluminium division of decorative window private equity investment of Hungarian Hofstädter products. fund ORIENS. Group. 25

Speyside Equity LLC Chettinad Cement Nimbus Sika AG Private equity firm Corporation Industrial holding Products for bonding, United States Cement and cement company sealing, damping related products Netherlands Switzerland Acquired 100% of manufacturer Business Operations India Acquired Majority Control Acquired 100% of of Business Operations McGregor & Acquired 100% of Thompson Hardware Business Operations NOE-Schaltechnik KVK Holding a.s. Ltd Georg Meyer-Keller Bitumen membranes and Manufacturer and Sanghi Infrastructure GmbH + Co. KG construction materials distributor of building MP Limited Leading provider of manufacturer materials Company implementing a concrete formwork Czech Republic Canada cement project technology India Germany Advised on Sale of Advised on Sale of Company Company Advised on Sale of Advised on Sale of a Company Majority Stake Advised Arx Equity Advised hardware Partners on the sale of KVK and building materials Advised Sanghi Nimbus, an industrial Holdings, a manufacturer wholesaler McGregor & Infrastucture, an industrial holding company, acquired of bitumen membranes Thompson on its sale to real estate and cement NOE-Schaltechnik Georg and construction materials Speyside Equity. projects developer, on Meyer-Keller GmbH + Co. to Sika, a manufacturer its sale to Chettinad KG, a leading provider and wholesaler of active Cement Corporation, one of concrete formwork specialty chemicals. if India’s leading cement technology. manufacturers.

Business Services 28 Business Services

The Addeco Group Harvey Nash Group Menway Credo Partners Staffing firm PLC Human resources Private equity focused on Switzerland Recruitment consultancy services SMB market and IT outsourcing France Norway Acquired 100% of Shares United Kingdom Acquired 100% of Acquired 100% of Mullin International Acquired 100% of Business Operations Business Operations Provider of outplacement Business Operations services Mindfield Din Utvikling United States Crimson Ltd Human resouces services Job placement and IT consultancy France training courses Advised on Sale of United Kingdom Norway Company Advised on Sale of Advised on Purchase of Company Advised on Sale of Company Advised privately held Company outplacement firm Mullin Menway acquired a majority International on its sale to Harvey Nash, the London- interest in Mindfield Search Credo Partners acquired Adecco, the world’s biggest based information & Consulting, a Paris-based Din Utvikling, a provider of staffing group. technology staffing and provider of executive search job placement and training services firm, acquired services. courses. Crimson Limited, a UK- based IT solutions and recruitment company. 29

Chisbridge Ltd OMNIA Partners 1C Company TMF Group B.V. Outsourcing and GPO in procurement Developer and distributor Financial, legal and HR offshoring and supply chain of mass market software admin services United Kingdom management Russia Netherlands United States Acquired 100% of Acquired Subsidiary of Acquired 100% of Business Operations Acquired Majority Control the Target Company Business Operations of Business Operations InterQuest Group PLC UCMS Group UCMS Group EMEA Recruitment Communities Program HR, payroll and Ltd. United Kingdom Management, LLC accounting HR, payroll and National government Russia accounting services in Advised on Sale of purchasing cooperative CEE Company United States Sell-side advisory of Cyprus selling the Russian Advised recruitment firm Advised on Sale of subsidiary Advised on Sale of InterQuest on its sale to Subsidiary Company outsourcing and offshoring Advised UCMS Group, a firm Chisbridge. Advised TapRoot Partners payroll, HR and accounting Advised on the sale of on the sale of its subsidiary firm, on its sale of a UCMS Group to TMF Group Communities Program subsidiary to 1C Company, in an upfront, cash financed Management, the a Moscow-based developer deal. organization that staffs and and distributor of mass manages the operations market software. of the U.S. Communities Government Purchasing Alliance, to OMNIA Partners, a portfolio company of TA Associates. 30 Business Services

Synergia Capital Talent Enterprise BTS Group AB The Riverside Partners Holding BV Global professional Company Private equity firm Secondment and services consultancy Global private equity firm Netherlands personnel employment Sweden United States services Management Buyout Netherlands Acquired 100% of Acquired 100% of Business Operations Business Operations The Human Network Acquired 100% of Group B.V. Business Operations Coach in a Box Advanced Protection Secondment employment Consultancy and Industries (DBA Netherlands Interimworx Beheer coaching services National Monitoring BV United Kingdom Center) Advised on Sale of Secondment Provider of customer Company Netherlands Advised on Sale of service Company United States Advised The Human Advised on Sale of Network Group, a Company Global professional services Advised on Sale of management consulting firm BTS Group acquired Company and secondment Advised Interimworx consulting and coaching employment specialist, on Beheer, a provider of human services company Coach Advised National Monitoring its sale to private equity resources and executive in a Box. Center on its sale to PE firm group Synergia Capital search consulting services, The Riverside Company. Partners. on its sale to employment agency Talent Enterprise Holding. 31

Relo Group, Inc. Eurofins Moore Stephens Travel Adventures Relocation services Food, pharma and Belgium GmbH Japan environmental laboratory Accountancy and Language travel and testing consulting schooling Acquired Majority Control Belgium Belgium Germany of Business Operations Acquired 100% of Acquired Majority Control Acquired 100% of Associates for Business Operations of Business Operations Business Operations International Research, Inc. Minerág Kft. Engelen & Partners nv iSt Internationale Provider of data and Sampling, analytical and Accountancy and Sprach- und consulting services consulting services consulting Studienreisen GmbH United States Hungary Belgium Provider of study language travels Advised on Sale of Advised on Sale of Advised on Purchase of Germany Company Company Company Advised on sale of Advised AIRINC, a provider Advised Minerág, an Advised accounting and Company of data and consulting accredited laboratory consulting firm Moore services to organizations providing food inspections Stephens Belgium on the Advised iSt Internationale as a part of their workforce and agricultural and purchase of accounting Sprach- und Studienreisen globalization strategy, environmental services, services company Engelen GmbH, a Heidelberg-based on its sale to Relo Group, on its sale to Eurofins, the & Partners. language school operator, a provider of relocation world’s leading laboratory on the sale of the company services to Japanese network. to Travel Adventures GmbH. companies. 32 Business Services

Sanoma Digital NL BISNODE Mid Europa Partners Ufenau Capital Consumer media and EU leading credit, market LLP Partners learning company and business info Leading PE Fund focused Financial investor Netherlands provider on growth markets Switzerland Czech Republic United Kingdom Acquired Majority Control Acquired Majority Control of Business Operations Acquired 100% Shares Acquired 100% of of Business Operations of Newly Spun-off Business Operations Kortingisleuk.nl Enterprise KRUPPERT Group Online cashback platform Customer Linen rental services Netherlands IS OCTOPUS, s.r.o. Management Center Germany Credit info assessment Largest Turkish Advised on Sale of system independent call center Advised on Sale of Company Czech Republic operator Company Turkey spin off & sale of the new Advised Kortingisleuk, an Ufenau Capital Partners, entity online cashback plaform for Advised on Sale of acquired linen and laundry retail shoppers, on its sale to Company operator Kruppert. Sanoma Digital, a consumer Advised IS Octopus, a media and learning leading credit information Advised ISS, a global leading company. assessment system facility services provider, company on its sale of their on the sale of its call centre newly spun off enterprise to activities in Turkey to Mid Bisnode, a EU leading credit Europa Partners, a leading and business information buyout investor focused provider. on the growth markets of Central and Eastern Europe and Turkey. 33

CMF S.p.A. EOS Investment GSP Marketing Intentional Holding Subsidiary of Management Ltd. Technologies, Inc. Digital agency Manutencoop Società UK-based private equity Retail branding and Belgium Cooperativa fund marketing Italy United Kingdom United States Acquired 100% of Business Operations Acquired Investment Acquired Majority Control Acquired Business Interest in Seller’s of Business Operations Operations Linkman Business Digital agency Eurofiere S.p.A. Great Big Pictures, Belgium Manutencoop Facility International design Inc. Management general contractor Delivers printing, Advised on Purchase of Leading player in facility Italy propping and visual Company management services fixturing Italy Advised on Sale of United States Advised Intentional Company Holding on the purchase of Advised on Purchase of Advised on Purchase of digital advertising agency Company EOS Investment Company Linkman. Management acquired a CMF, a direct and wholly- majority stake in Eurofiere, a Advised GSP Marketing owned subsidiary of leader in Italy in the design Technologies, a retail Manutencoop Società and installation of events services provider on the Cooperativa, acquired and spaces. purchase all of the assets a 33.2% of the share of large-format graphics capital of Manutencoop production lab Great Big Facility Management, Pictures, resulting in a a leading player in the strategic merger of two Italian integrated facility leaders in retail marketing management market. and store-level execution. 34 Business Services

Candid Group B.V. Candid Group B.V. Multi-Color MML Capital Partners Integrated marketing and Integrated marketing and Corporation Investor in SMEs based communications services communications services Global company in Ireland Netherlands Netherlands providing label solutions Ireland United States Acquired 100% of Acquired 100% of Acquired Majority Control Business Operations Business Operations Acquired 100% of of Business Operations Business Operations Stroom The Edge Initiative Agenda mediacommunicatie B.V. Cashin Print Communications B.V. Advertisement analytics Specialist printer for the Congress management Strategic media and marketing pharmaceutical industry and ophthalmology communication agency Netherlands Ireland society Netherlands Ireland Advised on Purchase of Advised on Sale of Advised on Sale of Company Company Advised on Sale of Company Company Advised marketing services Advised Cashin Print, Ireland Advised Stroom, a srategic firm Candid Group on the based company which Advised Agenda media communications purhcase of advertisement offers a full range of print Communications, a agency, on its sale to analytics firm The Edge services including concept conference management Candid Group, an integrated Initiative. and design, personalized organization, on its sale to communications services printing, digital print and MML Capital Partners, a PE provider. traditional litho print, on firm focused on Irish SMEs. its sale to Multi-Color Corporation, one of the largest label companies. 35

Silva International Sequedge Investment Private equity investment Inc. firm Japan-based boutique United Kingdom investment firm Japan Acquired 100% of Shares Acquired a Majority Electric Word plc Shareholding Sports news, information and analysis group Jitsugyo no Nihon United Kingdom Sha, Ltd. One of the oldest Advised on Sale of Japanese publishing Company companies Japan Advised Electric Word, a sports news, information Provided restructuring and analysis group, on advisory service its sale to private equity invesmtment firm Silva Sequedge Investment International. acquired an undisclosed minority stake in Jitsugyo no Nihon Sha Ltd, a Tokyo-based publisher of books and magazines, in a privately negotiated transaction.

Consumer & Retail 38 Consumer & Retail

Sodalis Group Mirato Abris Capital Partners Quest Products, Inc. Leading group in home Leading company in the Private equity fund Leading CPG and and personal care personal care market manager e-commerce services products Italy Poland company Italy United States Acquired 100% of Acquired Majority Stake Acquired Majority Control Business Operations in Acquired Majority of of Gianasso Velvet CARE Clinere Products Inc Icim International Leading company in Leader in CEE hygienic Leading designer of ear- S.p.A. natural and organic paper products market cleaning products Italian dermocosmetic cosmetics Poland United States company in pharmacy Italy channel Advised on Sale of Advised on Purchase of Italy Advised on Sale of Company Company Company Advised on Sale of Avallon signed an Quest Products, a leading Company Gianasso, an organic agreement to sell a consumer packaged goods personal care company majority stake in Velvet (CPG) and e-commerce Advised Pharmacos, the with the Provenzali brand CARE, Poland’s leading services company, acquired controlling shareholder of of products, was acquired manufacturer of personal Clinere Products, a leading dermocosmetic company by Mirato Group, a leading care products, to Abris designer and provider of top Bionike on its sale to Sodalis group in the personal care Capital Partners. selling, patent-protected ear Group, a leading group in market. wax removal tools. home and personal care products. 39

Wagner Holding Global Cosmed S.A. Active Capital Sievi Capital Oyj and GmbH Producer of household Company Investor Consortium Family office chemicals and cosmetics Dutch private equity firm PEG / Investor Germany Poland Netherlands consortium Finland Acquired 40.87% of Acquired 100% of Shares Acquired Majority of the Business Operations Company Acquired 100% of Global Cosmed Group Business Operations Dr. Förster AG S.A. Codi Group Natural cosmetics and Producer of household Producer of wet wipe Indoor Group Oy superfoods chemicals and cosmetics products Largest furniture retailer Germany Poland Netherlands in Finland Finland Advised on Purchase of Advised on Purchase of Advised on Sale of Company Company Company Advised on Purchase of Company Advised Wagner Holding on Advised Global Cosmed Advised private equity the purchase of Dr. Förster, Group, a producer of firm Value Enhancement Advised private equity a manufacturer of high- household chemicals and Partners on the sale of Codi firm Sievi Capital and a quality products for natural cosmetics, on its sale Group, a manufacturer consortium of investors cosmetics, organic food to publicly traded Global of wet wipe products, to on the purchase of Indoor supplements and nature- Cosmed. private equity firm Active Group, Finland’s leading based OTC medicines. Capital in a leveraged home furniture and interior buyout transaction. furnishing retailer. 40 Consumer & Retail

Zobel Values AG O2COOL, LLC Global Partner Hartenberg Capital, Family office Consumer beverage Acquisition Corp. s.r.o. Switzerland bottles SPAC Private equity fund United States United States Czech Republic Acquired 100% of Business Operations Acquired 100% of Acquired Majority Control Acquired Majority Control Business Operations of Business Operations of Business Operations RCP Ranstadt GmbH Manufacturer of single- Move Collective, LLC Purple Innovation ASTRATEX s.r.o. use products dba Bobble Mattress and cushion The leading CEE online Germany Manufactures and technology underwear retailer markets water bottles United States Czech Republic Advised on Sale of United States Company Advised on Sale of Advised on Sale of Advised SVG/Unilever Company Company Zobel Values acquired 100% of the shares in RCP Advised Seventh Generation, Advised Purple Innovation, Hartenberg Capital acquired Ranstadt GmbH together a subsidiary of Unilever, a comfort technology a majority interest in online with the company’s on the divestiture of its company known for retailer ASTRATEX. management. Bobble brand to O2COOL, a creating the “World’s First portfolio holding of LKCM No Pressure Mattress,” on Headwater Investments. its sale to Global Partner Acquisition Corp., a special purpose acquisition company. 41

Perwyn Pyka Oy Acritus, SAPI de CV Batur Yonetim Private equity firm Wholesaler of general Retail company backed Danismanligi United States sports and outdoor by private equity fund Turkey based investment textiles Mexico vehicle Acquired 100% of Finland Turkey Business Operations Acquired 100% of Acquired 100% of Shares Business Operations Acquired 100% of HALO Innovations, Business Operations Inc. North Outdoor Moda Holding Safe sleeping Wholesaler and Retailer of shoes and JellyCoe environment products for manufacturer of merino beachware products Belgium based sleepwear infants wool clothes Mexico company United States Finland Belgium Advised on Sale of Advised on Sale of Advised on Sale of Company Advised on Purchase of Company Company Company Acritus, footwear wholesaler Advised HALO Innovation, Advised North Outdoor, and retailer, acquired Moda Advised Batur Yonetim an award-winning leader in a wholesaler and Holding, a shoes and Danismanligi, a Turkey the design, manufacturing manufacturer of merino clothing retailer. based investment vehicle, and marketing of infant wool clothes, on its sale acquired JellyCoe, a health and safety products, to Pyka, a wholesaler of Belgium based sleepwear on its sale to Aden + Anais, general sports and outdoor company. an infant fabric product textiles. producer and portfolio company of private equity firm Swander Pace Capital. 42 Consumer & Retail

Lifco AB Njord Partners Luxottica Group Blumen Group S.p.A. Industrial conglomerate Private equity focused Worldwide leader in Italian leader in Sweden on special situation eyewear manufacturing production of seeds and investments Italy bulbs Acquired Majority Control United Kingdom Italy of Business Operations Acquired 100% of Acquired Majority Control Business Operations Acquired 100% of Wexman AB of Business Operations Business Operations Producer of workwear for Barberini S.p.A. professional use Lanificio Fratelli Leader in the production Samen Mauser AG Sweden Cerruti of optical glass lenses Swiss leader in the Italian leader in textile Italy production of seeds and Advised on Sale of industry bulbs Company Italy Advised on Sale of Switzerland Company Lifco acquired a majority Advised on Sale of Advised on Purchase of Company interest in Wexman, a Company Barberini, the world’s producer of workwear for leading optical sunglass professional use. Lanificio Fratelli Cerruti, a lens manufacturer was Blumen Group acquired leading Italian group in the acquired by Luxottica Group, Samen Mauser. Blumen textile sector, sold a majority the worldwide leader in and Samen Mauser are stake to UK PE firm Njord the design, manufacture leaders in the production Partners. and distribution of fashion, and distribution of seeds, luxury and sports eyewear. bulbs and plants, in Italy and Switzerland, respectively. 43

Summit Park Oy Transmeri Ab THOM Europe S.A.S. New Water Capital Private investment Importer and distributor Major european jewelry Private equity firm focused on middle of daily consumer goods retailer United States market Finland France United States Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Recapitalized Business Operations Business Operations KL Outdoor Fast Growing Trees Ibero Oy ORO VIVO AG Manufacturer of kayaks Online provider of hybrid Importer and wholeseller 3rd largest German and portable toliets trees and plants of affordable jewelry jewelry retailer United States United States Finland Germany Advised on Sale of Advised on Sale of Advised on Sale of Advised on Sale of Company Company Company Company Advised KL Outdoor, Advised Fast Growing Trees, Advised Ibero Oy, an Advised Christian Bernand a manufacturer of a leading online provider of affordable jewelry Group on the sale of jewelry recreational equipment and hybrid trees and plants sold wholesaler, on its sale to chain ORO VIVO to jewelry portable toilets, on its sale directly to the consumer, on Oy Transmeri, an importer company THOM Europe. to private equity firm New its recapitalization by private and distributor of daily Water Capital. investment firm Summit consumer goods. Park. 44 Consumer & Retail

PNC Riverarch Capital Feeders Supply R2P Pet management Mission Pets Private equity group Holdings, LLC Two senior management Designer, importer United States Brick and mortar pet team members of the and distributor of pet specialty retailer company products Acquired Majority Control United States United States United States of Business Operations Acquired 100% of Acquired Majority Control Acquired 100% of Assets Feeders Supply Business Operations of Business Operations Company, Inc. Harry Barker, Inc. 16 store independent pet Chow Hound Pet R2P Pet Premium pet lifestyle specialty retail chain Supplies Designer and producer of brand United States Brick and mortar pet pet toys and accessories United States specialty retailer United States Advised on Sale of United States Advised on Sale of Company Advised on Management Company Advised on Sale of Buyout of Majority Control Advised Feeders Supply, a Company Advised Harry Barker, a Louisville-based pet store premium pet lifestyle brand, operator, on its sale to PNC Advised pet store operator Advised senior managers on its sale to Mission Pets, Riverarch Capital, a unit Chow Hound on its sale to of R2P Pet, a designer and a designer and distributor of of PNC Financial Services Feeders Supply, a unit of producer of pet toys and pet products. Group Inc., in a leveraged PNC Riverarch Capital. accessories, on the buyout buyout transaction. of a majority control of the company. 45

Animalcare Group plc DD Holdings Turning Point Brands, GGT a.s. Veterinary products for Food service company Inc. Largest Slovak tobacco companion animals Japan Smokeless and smoking and press retail chain United Kingdom tobacco products Slovak Republic Acquired Investment company Reverse Takeover Interest in Seller’s United States Acquired Majority Control Business of Business Operations Ecuphar Acquired 100% of Veterinary SLD Entertainment Business Operations VALMONT CR, spol. pharmaceutical products Inc. s r.o. Belgium Food service and event Smoke Free Top 3 Czech tobacco & planning company Technologies Inc. dba press retail chain Advised on Transaction Japan VaporBeast Czech Republic and ECM fundraising E-commerce platform for Advised on Sale of e-vapor products Advised on Sale of Animalcare Group, a Company United States Company supplier of veterinary medicines and products, DD Holdings acquired SLD Advised on Sale of Advised tobacco retailer purchased Belgium-based Entertainment, a company Company Valmont on its sale to GGT, animal pharmaceutical firm primarily engaged in the Slovakia’s tobacco and Ecuphar. operation of cafe dining Advised VaporBeast, one press retail chain. stores and provision of of the fastest growing culture contents. e-commerce companies in the U.S. that develops and sells smoke free technology products, on its sale to Turning Point Brands.

Education & Training 48 Education & Training

New Harbor Capital Colibri Group Dapitex bvba Somos Operações Private equity firm Online education Private investor Escolares United States company Belgium Brazil’s largest basic United States education company Acquired Majority Control Acquired 100% of Brazil of Business Operations Acquired 100% of Business Operations Business Operations Acquired 100% of Blueprint Test Amitabha bvba Business Operations Preparation LLC Allied Business Provider of sports Online LSAT test prep Schools coaches and teachers to Escola Santi courseware Online career training companies Traditional K-8 school United States school Belgium with 700 students United States Brazil Advised on Advised on Sale of Recapitalization of Advised on Sale of Company Advised on Sale of Company Company Company Advised Amithaba, a New Harbor Capital Advised Allied Business provider of sports coaches Advised Escola Santi, acquired Bluedprint Test Schools, a leader in online and teachers to companies a traditional K-8 school Preparation, the premier real estate certification on its sale to a private with 700 students, on its LSAT test preparation education, on its acquisition investor. sale to Somos Operações provider in the US. by Colibri Group, a portfolio Escolares, Brazil’s largest company of Quad-C basic education company. Management. 49

S&B Sistema Diderot Education Educacional Brasileiro Group Ltd A group of 24 schools Privately held education France group Brazil Acquired 100% of Business Operations Acquired 100% of Business Operations Ecole de Tersac Private boarding school Maple Bear Global France Schools Ltd International private Advised on Sale of school Company Canada Diderot Education Group Advised on Sale of acquired private boarding Company school Ecole de Tersac.

Advised Maple Bear Global Schools, a Vancouver-based owner and operator of private schools, on its sale to SEB Sistema Educacional Brasileiro Ltda of Brazil, a unit of Pearson Education do Brasil SA.

Energy & Utilities 52 Energy & Utilities

PowerStream Inc. Undisclosed Buyer Undisclosed Buyer Brookfield Renewable Regional electricity Multi-commodity Family office Energy Partners distributor wholesale and trading Spain (BREP) Canada Switzerland Renewable power Acquired 100% of platform with more than Merger with Acquired Selected Assets Business Operations 10 KMW of Seller’s Business Canada Enersource / Horizon Operations Saltos del Tiétar Utilities / Hydro One Production of electricity Acquired Majority Control Brampton Repower Romania with four mini hydro Of Business Operations Electricity distribution Supplier of electricity and plants Canada services to SMEs Spain ISAGEN S.A. E.S.P Romania Third largest energy Advised Powerstream Advised on Sale of generating company in Inc. on Merger and Advised on Purchase of Company Colombia Acquisition Company Colombia Advised Saltos del Tiétar, Advised on Sale of Advised PowerStream on Advised an undisclosed an electricity producer with Company its merger with Enersource Swiss-based commodity four mini hydro plants, on and Horizon Utilities to trading company on the its sale to an undisclosed form Alectra Inc. and on the purchase of Repower family office. Represented Ministerio de simultaneous acquisition of Romania, a supplier of Hacienda y Crédito Público Hydron One Brampton. The electricity and power de Colombia on its sale multi-faceted transaction services to SMEs. to Brookfield Renewable led to the creation of the Energy Partners of 57.6% of largest municipally-owned the outstanding common eletric utility in Canada. shares of Isagen S.A. from the Colombian government. 53

Italgas Satori Capital, LLC Parkmead Group PLC Andes Energia PLC Italian leader and third in Private equity firm Oil and gas Oil and gas Europe in gas distribution United States United Kingdom Argentina Italy Acquired Majority Stake Acquired 100% of Acquired 100% of Acquired Majority Control in Business Operations Business Operations of Business Operations Purple Land Versus Petroleum Trefoil Holdings BV European Gas Management UK North Sea Licence Oil and gas Network S.r.l.; Land management for oil United Kingdom Netherlands Naturgas S.r.l.; companies Fontenergia S.r.l. United States Advised on Purchase of Advised on Purchase of Distribution of natural Company Company gas and LPG Advised on Sale of Italy Company Advised independent E&P South America-focused company Parkmead on the exploration and production Advised on Purchase of Satori Capital, a PE firm, acquisition of a 50% interest company Andes Energía Company acquired Purple Land in Licence P.2209 in the merged with Trefoil, Management, a provider of UK North Sea from Verus a majority owner of Advised Italgas, Italian land management for oil Petroleum. Argentina’s Petrolera El leader and third player companies. Trébol, to become Phoenix in Europe in the gas Global Resources. distribution business, on the acquisition of European Gas Network, Naturgas and Fontenergia, companies involved in the distribution of natural gas in Sicily, Calabria and Campania and LPG in Sardinia. 54 Energy & Utilities

JERA Co. Inc. 2D financial services, Shell Private Investor Leading power utility in a.s. Multi-national oil and gas Private investor Japan Special Purpose Vehicle company Spain Japan Czech Republic Netherlands Acquired 50% of Business Acquired 44% of Equity Acquired 100% of Acquired Majority Control Operations Interest Business Operations of Business Operations AMTS Mexico Cricket Valley Energy Energo Future, a.s. GI Energy Engineering and Center Woodchips CHP power Provider of on-site renewables EPC Planned natural gas plant, 5.8MW distributed energy Mexico power plant Czech Republic solutions United States United States Advised on Sale of Advised on Sale of Company Advised on Investment Company Advised on Sale of Company Advised Mexican renewable Advised JERA Co., a JV Advised Energo Future, energy EPC company between Chubu Electric a 5.8MW woodchip CHP Rilette Springs, a unit of Arteche on its sale to a Power Company and Tokyo power generator, on its Royal Dutch Shell, acquired private investor in Spain. Electric Power Company, on sale to SPV 2D Financial an undisclosed majority the investment in a 1,100 Services. interest in GI Endurant, a MW natural gas-fired power Chicago-based provider of generation project in New engineering services. York State, called Cricket Valley Energy Center. 55

Arkados Group Sdiptech AB Pure Technologies Empresas Públicas de Internet of Things PE investing in technical Develops technologies Medellín E.S.P. software provider infrastructure companies for water pipelines Multi-utility provider of United States Sweden Canada regulated services Colombia Acquired 100% of Assets Acquired Majority Control Acquired 100% of of Business Operations Business Infrastructure Acquired 100% of SolBright Renewable Business Operations Energy Unipower AB Wachs Water Services Renewable energy design PQ measurement and Water flow control Aguas de Antofagasta and development smart grid system maintenance and support S.A. United States products United States Water company serving Sweden Antofagasta region in Advised on Sale of Advised Company on Chile Company Advised on Sale of Sale Chile Company Advised SolBright, a Advised Wachs Valve Advised on Purchase of renewable energy solutions Advised Unipower, a and Hydrant Services on Company design and development technological leader in its acquisition by Pure company, on its sale to the area of power quality Technologies. Wachs Advised Empresas Publicas Arkados Group, a provider of measurement and smart Water Services is a leading de Medellin, a multi-utility scalable and interoperable grid system solutions, on provider of flow control provider of regulated industrial Internet of Things its sale to Sdiptech, an maintenance and support, services, on its cross (IoT) solutions focused on engineering company and leak detection and related border acquisition of the industrial automation and provider of niche technical asset management services water company Aguas de energy management. services and products for to the water sector in the Antofagasta, based in Chile. urban infrastructures. United States.

Financial Services 58 Financial Services

Great-West Life Co. iA Financial Group Third Lake Capital BP Marsh & Partners (Irish Life Group) Insurance and wealth Private equity PLC Health and life insurance, management United States Specialist VC/PE investor asset management and Canada United Kingdom investments Acquired 100% of Canada Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations Acquired Majority Control GAFCO of Business Operations PPI Management Inc Consumer finance LEBC Group Ltd Insurance marketing company Independent financial Invesco Canada United States advisor Pensions consultancy United Kingdom and wealth management Advised on Sale of Advised on Sale of services Company Company Advised on Purchase of Ireland Company iA Financial Group acquired Third Lake Capital, a family Advised on Sale of PPI Management, one office specializing in Advised BP Marsh & Company of the largest managing investments including real Partners on the increase general agencies supporting estate, acquired GAFCO, of its stake in investee Irish Life Group, a unit of independent advisors in a provider of financial financial advisory firm LEBC Canada Life, agreed to Canada. investment services. Holdings Ltd, to a majority acquire an undisclosed holding. majority interest in Invesco, a Dublin-based investment advisor. 59

Ersel Investimenti Attestor Capital Private Investors & Ritchie Bros. S.p.A. Investment manager with CM Porfolio S.A. Auctioneers Private banking and asset $4 bn AUM Construction and other Industrial equipment management boutique United Kingdom services auctioneer Italy Argentina Canada Acquired Majority Control Acquired Majority Control of Business Operations Acquired 100% of Acquired Minority of Business Operations Business Operations Interest Banca Intermobiliare Banca Albertini SYZ Private banking and asset Banco Interfinanzas Ritchie Bros. Financial S.p.A. management S.A. Services Private banking services Italy Commercial bank Financial assistance of Italy Argentina industrial equipment Advised on Purchase of purchases Advised on Sale of Company Advised on Sale of Canada Company Company Attestor Capital, an Advised on Sale of Financière SYZ, disposed investment manager Advised the shareholders Company a majority stake held in with a particular focus on of commercial bank Banco Banca Albertini SYZ, a Europe and assets under Interfinanzas on the sale Ritchie Bros., the world’s leading Italian private bank management of $4 billion, of the bank to a group of largest industrial auctioneer and asset manager, to Ersel acquired a majority stake in private investors. and a leading equipment Investimenti. Banca Intermobiliare. distributor, acquired the outstanding minority interest of Ritchie Bros. Financial Services, a provider of financial assistance to purchasers of industrial equipment. 60 Financial Services

Atalaya Capital Capital Bank Multinet Kurumsal Up Groupe Invest Management Lender Hizmetler A.S. Participações Ltda. Senior lender United States Voucher card and Subsidiary of Up Group United States payment solutions for Brazil Provided Acquisition corporations Provided Growth Financing Turkey Acquired Majority Control Financing of Business Operations Integrity Funding Acquired Majority Control IFO SPV Consumer finance of Business Operations Policard Consumer finance United States Issuance of benefit cards company ininal and vouchers United States Advised on placement Reloadable prepaid cash Brazil of debt cards provider Advised on placement Turkey Adviced on Purchase of of debt Advised Integrity Funding on Company the placement of debt. Advised on Purchase of Company Advised IFO SPV on the Advised Up Groupe Ltda., placement of debt in a the global service vouchers transaction with Atalaya Advised Multinet Kurumsal company to buy a majority Capital Management. Hizmetler, a provider of control in Policard. voucher cards and payment solutions for corporations, on the purchase of Ininal 61

CDHI Brasil CDHI Brasil Cerberus Capital Dendro Capital Participações Ltda. Participações Ltda. Management Search fund Subsidiary of Up Group Subsidiary of Up Group Leading private equity Mexico Brazil Brazil fund United States Acquired Majority Control Acquired 100% of Acquired 100% of of Business Operations Business Operations Business Operations Acquired Majority Control of Business Operations Tecnología en Empório Card Ltda. Planvale Cuentas por Cobrar Issuance of benefit cards Issuance of benefit cards Officine CST S.p.A. Master servicer and bond and vouchers and vouchers Credit management on administrator Brazil Brazil behalf of banks Mexico Italy Adviced on Purchase of Adviced on Purchase of Advised on Sale of Company Company Advised on Purchase of Company Company Advised CDHI Brasil Advised Up Group of France Dendro Capital, a search Participações Ltda., a of the acquisition of the Advised Cerberus Capital fund, acquired Tecnología subsidiary of Up Group, entire share capital of Management, a leading en Cuentas por Cobrar, a on its acquisition of Planinvesti Administracao e private equity firm, on the master servicer and bond Empório Card Ltda., a Servicos Ltda, a Sao Paulo- acquisition of a majority administrator of structures. Brazilian-based provider of based provider of consumer stake in Officine CST, a consumer lending services lending services. company specialized in in prepaid vouchers and the management of non cards services in areas performing loans. such as employee benefits, motivation and personal assistance services. 62 Financial Services

Advent International; Rakuten Securities Rakuten Securities Private investor Bain Capital; Clessidra Online brokerage firm Online brokerage firm Private investor Leading private equity Japan Japan Belgium funds United Kingdom Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Business Operations Acquired Majority Control of Business Operations FXCM Asia Limited FXCM Japan Finas bvba Online retail FX brokerage Securities Insurance broker ICBPI firm Online retail FX brokerage Belgium Leading Italian financial China firm Institution Japan Advised on Sale of Italy Advised on sale of its company subsidiary Advised on sale of its Adviced on Purchase of subsidiary Advised Finas, an insurance Company Advised FXCM Asia Limited, brokerage agency, on its an online retail FX brokerage Advised FXCM, the leading sale to an undisclosed Advised Advent Internatinal firm, on its acquisition of US-based global provider private investor. private equtiy fund to buy Rakuten Securities, a Tokyo- of online foreign exchange a majority control in ICBPI based online brokerage firm. trading and related services, which employs 1,900 people on the sale of 100% of its and operates brands such shares of FXCM Japan as Cartasi. Securities to Rakuten Securities, a leading online securities firm in Japan. 63

TransUnion LLC Leading global credit bureau United States

Acquired 100% of Business Operations

CIFIN Leading credit bureau in Colombia Colombia

Adviced on Purchase of Company

Advised TransUnion, a leading global risk and information solutions provider to businesses and consumers, on the acquisition of a majority ownership interest in CIFIN, one of two primary Colombian credit bureaus.

Food & Beverage 66 Food & Beverage

Wilmar Sugar Rieker Investment AG HQ Equita GmbH Henwood Thirty Three Holdings Pte Ltd. Family office Investment company Ltd (WSH) Switzerland Germany Food trading group Leading agribusiness United Kingdom group Acquired Majority Control Acquired Majority Control Singapore of Business Operations of Business Operations Acquired 100% of Business Operations Acquired Investment PROHOGA Group WELL PLUS TRADE Interest in Premium food retailer for Holding GmbH Keen Meadows the HoReCa industry Sports and dietary Holding Ltd Shree Renuka Sugars Germany nutrition Food company Limited Germany United Kingdom Producer of raw sugar Advised on Sale of and by-products Company Advised on Sale of Advised on Purchase of India Company Company Rieker Investment acquired Advised on Strategic a 90% interest in grocery Advised four majority Henwood Thirty Three Investment products merchant shareholders of Well Plus acquired the entire share wholesaler ProHoGa. Trade, a leading provider of capital of specialty food Wilmar Sugar, a subsidiary sports and dietary nutrition retailer Keen Meadows. of Asia’s leading with known brands Power agribusiness group, System and Slim System, acquired an investment on the sale of their stake interest in Renuka Sugars, a to HQ Equita, a German mid- producer of raw sugar and market investment fund. byproducts. 67

Idea Team Group White Bridge Céréa Partenaire Ardian France S.A. Player in organic food Investments French private equity firm Leading private equity niche market Private equity fund France fund Italy Italy France Acquired 100% of Acquired Investment Acquired Majority Control Business Operations Acquired 100% of Interest in Seller’s of Business Operations Business Operations Business Monviso S.p.A. Campus Leading player in the Irca Ki Group S.p.A. Innovative functional Italian bakery industry B2B sweet and salty Wholesale distribution of foods ingredients market Italy products manufacturer organic/natural products Italy Italy Italy Advised on Sale of Advised on Purchase of Company Advised on Purchase of Advised on Sale of Company Company Company Céréa Partenaire acquired Advised White Bridge Monviso S.p.A., leader in the Advised the private Advised organic food Investments SpA on the Italian bakery industry. equity fund Ardian on the distributor Ki Group on its acquisition of a majority acquisition of a majority sale to Idea Team Group, a interest in Campus S.r.l., one stake in Irca, one of the grocery wholesaler with a of the fastest growing global leading one-stop-shop for presence in the organic food innovative functional food bakeries, pastry shops, market. ingredients companies. industrial clients and HoReCa. 68 Food & Beverage

Valeo Foods Permira Advisers LLP Zerbinati Pastificio Rana S.p.A. European leader in the UK-based private equity Market leader of ready-to- Leader in the production food industry (Capvest firm eat dishes of fresh pasta and PE) United Kingdom Italy sauces Ireland Italy Acquired 100% of Acquired Selected Assets Acquired 100% of Business Operations of Seller’s Business Acquired 100% of Business Operations Operations Business Operations Gruppo La Piadineria Dolciaria Val d’Enza s.r.l. Ready-to-eat Nestlè Italiana S.p.A. Largest piadina stores vegetables business production line Italian producer of private network worldwide of Centrale del Latte BL active in production of label tartlets and pies Italy d’Italia chilled pasta & sauces Italy Ready-to-eat vegetables Italy Advised on Purchase of business unit of Centrale Advised on Sale of Company del Latte d’Italia Advised on Sale of Company Italy Company Permira, a UK-based Alto Partners sold Dolciaria private equity, acquired Advised on Purchase of Advised Nestlé Italiana Val d’Enza, a leading Italian La Piadineria, the first fast Company in the definition of an producer of private label casual food restaurants agreement for the disposal tartlets and pies to Valeo network in Italy and the Zerbinati, Italian leader in of the Buitoni branded Foods, a leading pan- largest piadina stores the market of ready-to-eat line of production and European group of branded network worldwide. vegetables, soups and commercialization of food products backed by plates, acquired the ready- chilled pasta and sauces to the private equity fund to-eat vegetables business Pastificio Rana. CapVest. of Centrale del Latte d’Italia. 69

Casalasco Piatti Freschi Frosta AS Group Italian leader in the JV Beretta - Fleury Italian player in the frozen Leading food and canned tomatoes market Michon, producing ready food business beverage producer Italy meals Italy Bosnia and Italy Herzegovina Acquired Selected Assets Acquired Selected Assets of Acquired Majority Control of Acquired Majority Control of of Business Operations De Rica Brand Valle degli Orti, Italian brand of tomato Sapori e Gusto Italiani Surgela and Mare Vegafruit d.o.o. sauce Top-quality fish and Fresco brands Leading processers of Italy vegetables Italian frozen food vegetables and fruit Italy business of Nestlè Bosnia and Advised on Sale of Italy Herzegovina Company Advised on Purchase of Company Advised on Sale of Advised on Sale of Advised Generale Conserve, Company Company an Italian company in the Advised Piatti Freschi Italia, canned tuna market, on the a joint venture between Advised Nestlé on the sale Advised Vegafruit, a fruit sale of the De Rica brand Salumifico Fratelli Beretta of the Italian frozen food and vegetable processor, to Consorzio Casalasco del and the French listed business (vegetables, fish on its sale to AS group, a Pomodoro, Italian leading company Fleury Michon, and recipe dishes) and the leading food and beverage company in the canned on the acquisition of Sapori trademarks “La Valle degli producer. tomatoes market. e Gusto Italiani, Italian Orti”, “Mare Fresco” and player specialized in the “Surgela” to the German production of top-quality group FRoSTA. fish and vegetables. 70 Food & Beverage

Wealmoor and Yellow Point Equity Perwyn White Bridge Limones Piuranos Partners Private equity firm Investments S.A. Private equity firm United Kingdom Investment company UK supplier of fresh Canada Italy exotic fruit and Acquired 100% of vegetables Acquired Majority Control Business Operations Acquired Majority Control United Kingdom of Business Operations of Business Operations Mellow Party Acquired 100% of Foley’s Candies Ltd. Producer of Nutkao Business Operations Chocolate manufacturer marshmallows Leading producer of and wholesale distributor Belgium private label hazelnut Sunshine Export S.A. Canada spreads Fresh and frozen mango Advised on Sale of Italy and avocado exporter Advised on Sale of Company Peru Company Advised on Sale of Advised Mellow Party, a Company Advised on Sale of Advised Foley’s Candies, marshmallow confectioner, Company a chocolate producer and on its sale to PE firm White Bridge Investments retailer, on its sale to PE Perwyn. acquired an 80% interest Wealmoor and Limones firm Yellow Point Equity in Nutkao, a manufacturer Piuranos, a UK supplier Partners. of chocolate and of fresh exotic fruit and confectionery. vegetables, acquired Sunshine Export, a fresh and frozen mango and avocado exporter. 71

AB Inbev Rotkappchen-Mumm Mutandis Quench (A Division Largest beer brewer in Sektkellereien GmbH Group specialized in of Aquaventure the world Major German producer consumer goods in Africa Holdings) Australia of sparkling wine and Morocco Global provider of water- spirits as-a-service solutions Acquired 100% of Germany Acquired Brand and United States Business Operations Business Operations Acquired 100% of Acquired Selected Assets Pirate Life Brewing Business Operations Citruma of Seller’s Business Company Leading Moroccan Operations Craft beer brewer Ruggeri & C. S.p.A. producer of fruit juices Australia Renowned Italian Morocco WA-2 Water Company sparkling wine prosecco Ltd Advised on Sale of producer Advised on Sale of Water filtration & coffee Company Italy Company services Canada Anheuser-Busch Inbev Advised on Purchase of Mutandis, an African group acquired Pirate Life Brewing, Company specialized in consumer Advised on Sale of an Adelaide-based brewery. goods, acquired Citruma, a Company Advised Rotkäppchen- leading Moroccan producer Mumm, a family-owned of fruit juices. Quench acquired WA-2!’s company and leading water division. WA-2! is producer of spakling Western Canada’s leader wines, on the acquisition in home and office water of Ruggeri, a prestigious filtration and an emerging award-winning Italian player in the office coffee prosecco specialist. space. 72 Food & Beverage

Pamica AB Pamica AB LDC Groupe Bidfood Iberia Swedish private equity Swedish private equity One of the largest Fruits and vegetables firm firm companies in the provider for HoReCa Sweden Sweden European poultry market sector France Spain Acquired Majority Control Acquired Majority Control of Business Operations of Business Operations Acquired 100% of Acquired 75% of Business Business Operations Operations InCup Sweden AB Beans AB Coffee service operator Coffee service operator Tranzit Group Carnicas Saenz Sweden Sweden Leading geese and Meat provider for Horeca ducks breeding Group in sector Advised on Purchase of Advised on Purchase of Hungary Spain Company Company Hungary Advised on Purchase of Advised Swedish private Advised Swedish private Advised on Purchase of Company equity firm Pamica on the equity firm Pamica on the Company purchase of coffee service purchase of coffee service Advised Bidfood Iberia on operator InCup. operator Beans. LDC Groupe, a leading a majority stake purchase European poultry producer, of meat products provider agreed to acquire a 70% Saenz Horeca. interest in Tranzit, a Hungarian poultry merchant wholesaler. 73

Huitai Investment Diana Holding Group Co., Ltd. Moroccan industrial Industrial conglomerate holding company China Morocco

Acquired 100% of Acquired a Majority Stake Business Operations in the Company

Bröderna Hanssons i SOCIETE ATLANTIC Göteborg Export AB SARDINE ANCHOVIES Processing and TANTAN (« ASAT ») distribution of fresh fish Producer and exporter and seafood of canned sardines and Sweden mackerels Morocco Advised on Sale of Company Advised on Sale of a Majority Stake Huitai Investment of China acquired the entire Advised Societe Atlantic share capital of Broderna Sardine Anchovies Tantan, a Hanssons i Göteborg subsidiary of El Jabri, on its Export, a Gothenburg-based sale to Diana Holding. Diana fishing establishment. Holding will invest in the construction of a sardine- mackerel manufacturing unit in Agadir.

Healthcare 76 Healthcare

Frontage Laboratories Affidea Diagnosztika High Street Capital Housatonic Partners Full-serivice contract Kft. Private equity firm Private equity firm research organization Provider of healthcare United States United States United States diagnostic imaging services Acquired Majority Control Acquired Majority Control Acquired 100% of Hungary of Business Operations of Business Operations Business Operations Acquired 100% of Avomeen Analytical Accurate Monitoring Concord Biosciences Business Operations Services LLC Contract research Analytical lab and Intraoperative organization Fonix-Med Zrt. pharma testing services neuromonitoring services United States Corporate healthcare United States provider and outpatient service United States Advised on Sale of provider Advised on Company Hungary Recapitalization of Advised on Company Recapitalization of Advised Concord Advised on Purchase of Company Biosciences, a leading Company Advised Avomeen, a contract research provider of analytical lab and Advised Accurate organization (CRO) that Fonix-Med, a corporate pharma testing services, Monitoring, a leading provides pre-clinical drug healthcare and outpatient on its recapitilization with provider of outsourced safety and metabolism, service provider, was private equity firm High Intraoperative bioanalytical and acquired by Affidea Street Capital. Neurophysiological agrichemical services, on its Diagnosztika, a healthcare Monitoring (IONM) sale to Frontage Labs. diagnostic imaging services services to hospitals and provider. surgical groups, on its recapitalization with private equity firm Housatonic Partners. 77

Essilor Optica Vyaire Medical Inc. Permira Advisers LLP NuVasive Manufacturer of Respiratory care UK-based private equity Surgical devices for ophtalmic lenses and United States firm treatment of spine equipment United Kingdom disorderds Spain Acquired Majority Control United States of Business Operations Acquired Majority Control Acquired Majority Control of Business Operations Acquired of Business Operations Revolutionary Medical Devices, Inc Corin Group Safe Passage OCUTEC S.A.C. Innovative products for Leading group in the Neuromonitoring Manufacturer of airway management orthopaedic industry Medical monitoring and ophtalmic lenses United States Italy scanning services Peru United States Advised on Sale of Advised on Purchase of Advised on Sale of Company Company Advised on Sale of Company Company Advised Revolutionary Permira Advisers agreed Advised Ocutec Laboratorio, Medical Devices, a maker to acquire a 50% interest Advised Safe Passage, a a prescription laboratory in of innovate products for in Corin Orthopaedics, a medical monitoring and Peru on its sale to Essilor airway management, on manufacturer of surgical scanning services provider, Optica, located in Spain its sale to Vyaire Medical, appliance and supplies. on its sale to NuVasive. - world leader in vision the healthcare industry’s solutions, present in more dedicated “breathing than 100 countries. company”. 78 Healthcare

BNP PARIBAS ConvaTec Group Plc Higèa S.p.A. Trigentis DEVELOPPEMENT Global medical products Technologies and Investment company Private equity group and technology company services for health Netherlands France United Kingdom facilities Italy Acquired Majority Control Acquired Investment Acquired 100% of of Business Operations Interest in Company Acquired Majority Control of Business Operations Cemex Trescon EMKA EuroTec Beheer B.V. Wholesaler of medical TECHNOLOGIES Manufacturer of ostomy Biomedicale Srl disposables Preclinical research products (biomedical division Netherlands sytems Netherlands of Zephyro SpA) France Biomedical engineering Advised on Sale of Advised on Sale of services Company Advised on Sale of Company Italy Company Advised Cemex Trescon, Advised ConvaTec, a global Advised on Sale of a medical equipment and Advised Emka medical products and Company supplies wholesaler, on Technologies, a world leader technologies company, on its sale to investment firm in the design, manufacture its sale to EuroTec Beheer, Advised Biomedicale Srl, Trigentis. and distribution of systems a Netherlands-based the biomedical division of for preclinical cardiology, manufacturer of ostomy Zephyro SpA, on its sale to neurological and pulmonary appliances. Higèa, a provider of health research on a BIMBO facility tecnnologies and transaction. services. 79

Amadeus Capital Mediplast AB / Torquest Partners Hungaropharma Zrt. Partners, Charme Addtech AB Manager of private equity Pharmaceutical Capital Partners, Medtech wholesales funds wholesaler Aleph Capital and Sweden Canada Hungary Graham Snudden Private equity Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Luxembourg Business Operations

Acquired Investment Fenno Medical Oy Rubicon Pharmacies QB-Pharma Kft. Interest in Seller’s Medtech wholesales Canada Inc. Software developer for Business Finland Operator of retail pharmacies pharmacies Hungary IGENOMIX S.L. Advised on Sale of Canada Genetic testing laboratory Company Advised on Purchase of Advised on Sale of Company Spain Advised Fenno Medical Oy Company Advised on Sale of a leading medtech actor Hungaropharma, a Company in the Finnish market, TorQuest acquired Rubicon pharmaceutical wholesaler, marketing a broad range Pharmacies, owner and acquired QB-Pharma, a Advised IGENOMIX, a of medical equipment and operater of 67 pharmacies software developer for leading provider of genetic consumables from world- across Western Canada. pharmacies. testing services for leading suppliers on its sale reproductive health patients to Addtech Group. and clinics, on its sale to a group of private equity firms and investors. 80 Healthcare

Phyteo Euroapteek/ Dishman Carbogen INVEKRA, S.A.P.I. DE European expert Euroapotheca Group Amcis C.V at making to order Pharmacy operator Contract research and Pharmaceutical company nutraceuticals Estonia manufacturing partner Mexico France India Acquired 100% of Acquired 51% Equity Acquired Selected Assets Business Operations Joint Venture with Stake of Seller’s Business Operations Yliopiston Apteekki’s Eurolife Healthcare Laboratorios Portugal Estonian Pharmacy Specialty S.R.L. Pileje Industrie Entity Operations pharmaceuticals Pharmaceutical company Bessay Pharmacy operator India Peru Contract manufacturer of Estonia liquid herbal supplements Partner Search and JV Advised on Sale of France Advised on Sale of Formation Company Company Advised on Sale of Dishman Carbogen Amcis Advised Laboratorios Manufacturing Unit Euroapteek/Euroapotheca signed a JV with Eurolife Portugal, a Peruvian Group, a pharmacy operator, Healthcare. pharmaceutical and Phyteo Laboratoire acquired Yliopiston drugstore company, acquired a manufacturing Apteekki’s Estonian on its sale to Invekra, a unit of Pileje Industrie, a Pharmacy Operations. Mexican manufacturer of manufacturer of medicinals pharmaceuticals. and botanicals. 81

Strides Shasun União Quimica Evonik Industries Undisclosed Pharmaceutical products Leading Brazilian Specialty chemical Financial institution manufacturer pharmaceutical company business Egypt India Brazil Germany Acquired 20.8% of Acquired Investment Acquired 100% of Acquired Full Control of shares Interest in a Joint Venture Business Operations Business Operations Ibn Sina Pharma US FDA Business of Zoetis - Guarulhos Transferra Pharmaceutical Vivimed Labs Manufacturing Facility Nanosciences Inc distribution company Global supplier of Leading global animal Chemistry, manufacturing Egypt pharmaceuticals health company and controls for biotech India Brazil Canada Advised on Sale of Company Advised on JV Formation Advised on Sale Advised on Sale of of Pharmaceutical Company Advised Ibn Sina Pharma, Advised pharmaceutical Manufacturing Facility the leading Egyptian supply company Advised Transferra, a pharmaceutical distribution Vivimed Labs Limited Advised Zoetis, the world’s provider of products and company serving retail on establishing a JV largest animal health services to life science pharmacies, hospitals and with pharmaceutical company, on the sale companies engaged all major healthcare units manufacturer Strides of its pharmaceutical in the development across the country on its Shasun. The companies manufacturing facility of pharmaceutical sale. will invest jointly in US FDA in Guarulhos to União products, primarily in the approved pharmaceutical Quimica, Brazil’s leading lipidnanoparticle field, on its formulation plants. pharmaceutical company. sale to Evonik Industries, a global specialty chemicals group. 82 Healthcare

Pronokal Group Piramal Enterprise Reproductive Dent2Dent Company active in Diversified healthcare Medicine Associates Shareholder medical weight-loss India of New Jersey Dental practice treatments Reproductive medicine Netherlands Spain Acquired Selected and fertility clinics Assets of United States Acquired 100% of Acquired 100% of Business Operations Business Operations Shreya Lifesciences Merged with Private Limited Dent2Dent Dental SDM S.r.l. Pharmaceutical company Instituto Valenciano Practices Leader in treatment of India de Infertilidad Dental practice obesity and overweight Global leader in assisted Netherlands Italy Advised on Sale of reproduction Digeplex Brand Spain Advised on Sale of Advised on Sale of Company Company Piramal Enterprises Advised RMANJ acquired Digeplex and Management on Merger The Dent2Dent group Pronokal Group, a company the associated brands of dental practices was backed by the private from Shreya Lifesciences Advised RMANJ, a leading purchased by a shareholder. equity fund Abac Solutions, in order to expand their IVF treament provider, on its acquired SDM, the Italian gastrointestinal product global business combiation leader in the treatment of portfolio. with Instituto Valenciano de obesity and overweight Infertilidad. medical control, from Centouno S.r.L. 83

Bon Pied DW Healthcare AMN Healthcare Undisclosed Buyer Holding company Partners Services Private investor France PE firm focused on Healthcare workforce United States healthcare solutions and staffing Acquired 100% of Canada services Invested in Seller Business Operations United States Acquired Investment Lutz Surgical Partners FARGEOT et CIE Interest in Seller’s Acquired 100% of Emergent/urgent care PodoWell Business Business Operations surgicalist group in Comfort shoes for Florida plantar pathologies Aequor Healthcare Phillips, DiPisa & United States France Healthcare personnel Associates, Inc. and provider Leaders For Today, Advised on Sale of Advised on Sale of United States LLC Company Company Healthcare executive Advised on Sale of search and interim Advised Lutz Surgical Company Advised Fargeot & Cie, a management Partners on its manufacturer of therapeutic United States recapitalization by a footwear, on its sale to Canadian healthcare private confidential private equity holding company Bon Pied. equity firm DW Healthcare Advised on Sale of partner. Lutz’s surgeons Partners acquired an Company provide specialized investment interest outsourced surgical in Aequor Healthcare AMN Healthcare Services services to hospitals Services, a healthcare acquired Phillips DiPisa & through a unique staffing personnel provider that Associates, a provider of model, fundamentally specializes in staffing executive search services. delivering exclusive ER call physicians, therapists, Concurrently, AMN acquired coverage on a contract nurses, technologists Leaders For Today. basis. and related professionals.

Industrials 86 Industrials

KLX, Inc. LongueVue Capital, Lampe Privatinvest Stelter Zahnradfabrik Distributor of aerospace Clavis Capital & IBCF Management GmbH GmbH fasteners and Syndicated private equity Private equity with Leading European consumables United States evergreen structure manufacturer of metal United States Germany gear wheels Acquired Majority Control Germany Acquired 100% of of Acquired Majority Control Business Operations of Business Operations Acquired a Minority Stake Azimuth Technology, THG Corporation LLC Karl Reichenbach ZWP Zahnradwerk Fluid and motion control High precision GmbH Pritzwalk GmbH component distribution component manufacturer Full line manufacturer of Manufacturer of United States United States rubber products cylindrical spur gears Germany Germany Advised on Sale of Advised on Sale of Company Company Advised on Sale of Advised on Purchase of a Company Minority Stake THG Corporation, a fluid and Advised high precision motion control component component manufacturer Advised the owners of Karl Advised Stelter distributor, was acquired Azimuth Technology on Reichenbach GmbH, a well- Zahnradfabrik, a leading by KLX, a leading provider its sale to a group of PE established small volume European manufacturer of aerospace fasteners, investors. manufacturer of rubber of metal gear wheels, consumables, and logistics parts with a specialization on the acquisition of an services. in technical elastomer undisclosed minority stake products, on the sale of in Zahnradwerk Pritzwalk, majority shares to Lampe a manufacturer of speed Privatinvest. changers, industrial high- speed drives and gears. 87

Holvoet nv Management of the IDEX Corporation SPIE Nederland B.V. Processing of steel coils company Listed industrial company Multi-technical services Belgium - fire and safety specialist provider Hungary United States Netherlands Acquired 100% of Business Operations Acquired 49% of Business Acquired 100% of Acquired 100% of Operations Business Operations Business Operations Bevo nv Processing of steel coils MOTIM ZRt. AWG Fittings Group Inmeco B.V. Belgium Abrasive and refractory Leading manufacturer of Process industry materials manufacturer fire protection systems instrumentation services Advised on Sale of Hungary Germany Netherlands Company Advised on Sale of Advised on Sale of Advised on Sale of Company Company Advised steel coil processer Company Bevo on its sale to Holvoet. Advised MOTIM, an abrasive Lukas Hydraulik GmbH, SPIE Nederland, a provider and refractory materials a unit of IDEX Corp, of engineering services, manufacturer, on the sale definitively agreed to acquired Inmeco BV, a of a minority stake in the acquire AWG Fittings manufacturer of measuring company. GmbH, a Giengen-based and controlling devices. manufacturer of hoses and belting, from Paragon Partners GmbH. 88 Industrials

Besodean Group, a.s. Juuri Fund I LP and SEC Holding Co., Ltd. Electrical Industries SPV owned by Management Manufacturer of motors Holding company - management Finnish private equity and generators electrical equipment Czech Republic investment fund China Austria Finland Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations Business Operations B:TECH, a.s. VEM Group Alkargo, S. Coop. Industrial automation and Finelcomp Oy Manufacturer of drive Manufactures power and building control Manufacturer of electrical systems and components distribution transformers Czech Republic enclosures Germany Spain Finland Advised on Management Advised on Purchase of Advised on Purchase of Buyout Advised on Sale of Company Company Company Advised Besodean Group, Advised Chinese SEC Advised Electrical Industires, a management owned SPV Juuri Fund I LP and Holding on the purchase an Austrian holding of on the buyoyt of by B:TECH, Management acquired of VEM Group, a traditional electrical equipment a specialist in industrial Finelcomp, a manufacturer manufacturer of electric companies, on the purchase automation and building of electric enclosure drive systems, special of Alkargo, a Spanish control solutions. mechanics. motors and machines. manufacturer of power transformer and distribution machinery. 89

Bossard Group Value Enhancement Pamica AB Pamica AB Leading supplier of Partners B.V Swedish private equity Swedish private equity industrial fasteners Private equity firm firm Switzerland Netherlands Sweden Sweden

Acquired 100% of Acquired Majority Control Acquired Majority Control Acquired 100% of Business Operations of of Business Operations

Arnold Industries LLC InterDam Cupola AB Absortech AB Distributor of fasteners Manufactures fire and Leading player in World leader in moisture and mechanical hardware blast doors, wall and systematic fire protection protection technology United States windows Sweden Sweden Netherlands Advised on Sale of Advised on Purchase of Advised on Purchase of Company Advised on Sale of Company Company Company Advised Arnold Industries, Advised Swedish PE firm Advised Swedish private a premier value- InterDam, an international Pamica on the purchase of equity firm Pamica on the added distributor of market leader in fire and Cupola, a leading provider acquisition of Absortech, electromechanical and blast resistant architectural of systematic fire protection world leader in moisture fastener products, on its products for the oil and gas products and services. protection technology. sale to Bossard Group, and offshore renewables a leading supplier of sectors, partnered with VE industrials fastners. Partners to accelerate its ambitious growth plans. 90 Industrials

The Middleby Blue Point Capital Marlen International KWH Mirka Oy Corporation Partners, LP Food processing Producer of coated Listed foodservice Private equity machinery abrasives and sanding equipment company United States United States solutions United States Finland Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Acquired 100% of Business Operations Business Operations Russell Food Advanced Food Firex Equipment Ltd Heating bvba Cafro S.p.A. Steam cooking Foodservice equipment Food processing Producer of equipment producer for disbribution machinery superabrasive wheels foodservice industry Canada Belgium and tools Italy Italy Advised on Sale of Advised on Sale of Advised on Purchase of Company Company Advised on Purchase of Company Company Advised Russell Food Advised food processing The Middleby Corporation, Equipment Ltd, foodservice machinery manufacturer Advised Mirka, one a leader in foodservice equipment distribution on Advanced Food of the world’s leading equipment, acquired Firex, its sale to Blue Point Capital Heating on its sale to abrasives and power a leading Italian producer of Partners, LP, a Seattle-based Marlen International, a tools manufacturers, cooking equipment for the private equity firm. manufacturer of food on the acquisition of foodservice industry. processing machinery. Cafro, a manufacturer of superabrasive wheels and tools. 91

Hungarian Private K.P. Holding A/S BGH Edelstahlwerke Private Individual Investor One of Denmark’s GmbH Private individual Financial investor larger subcontractors in Manufacture of stainless Hungary Hungary machining steel and nickel alloys Denmark Germany Acquired 50% Of Acquired 100% of Business Operations Business Operations Acquired 100% of Shares Acquired 100% of Business Operations Ventifilt Kft. CNC Rapid Kft. Trestads Industrial air engineering Production of precision Precisionsmekanik Comercial Arrate, S.A. and manufacturing turned machine parts AB Distribution and Hungary Hungary Subcontractor of commercialization of complex machined steel for tools Advised on Sale of Advised on Sale of components Spain Company Company Sweden Advised on Sale of Ventifilt, an industrial Company Advised CNC Rapid, a Advised on Sale of air engineering and Company producer of precision turned manufacturing company, machine parts, on its sale to Advised the shareholders sold 50% of its business a private investor. Advised Trestads of Comercial Arrate on operations to a private Precisionsmekanik, a the inclusion of BGH investor. subcontractor of complex Edelstahlwerke GmbH as a machined componens, strategic partner. on its sale to K.P. Holding, one of Denmark’s largest subcontractors in machining. 92 Industrials

Stinser Suministros Subsidiary of China Aeronautics Decalpo BVBA Integrales del Acero, Zhongwang Holding Provider of unmanned Private investor S.L. Ltd. aerial vehicles Belgium Integral management of Asia’s largest Israel flat steel supply manufacturer of Acquired 100% of Spain aluminum extrusion Acquired 100% of Business Operations China Business Operations Acquired 100% of Heyninck Kachels Business Operations Acquired Chassis Plans BVBA Military and industrial Heating systems Mecalaser, S.A. Aluminiumwerk Unna computer systems distributor Laser high precision AG United States Belgium cutting Manufacturer of Spain aluminum alloy tubes Advised on Purchase of Advised on Sale of Company Germany Company Advised on Sale of Company Advised on Sale of Advised Aeronautics, an Decalpo acquired Heyninck Company Israeli-based provider Kachels, a stoves and Advised laser high precision of unmanned aerial fireplaces retailer. cutting firm Mecalaser Zhongwang, Asia’s vehicles for defense, on its sale to Stinser largest manufacturer homeland security, and Suministros Integrales del of aluminum extrusion, civil applications, on its Acero. acquired a majority stake acquisition of Chassis in Aluminiumwerk Unna, a Plans, an American military manufacturer of aluminum and industrial computer alloy tubes. systems manufacturer. 93

RUBIKON Danaher Pall Quality Distribution Grupo JIS Industriebeteiligungen Filtersystems Largest bulk & tank truck Industrial assembly and GmbH Producer of filtration and network in North America maintenance services Family office separation devices United States Spain Germany United States Acquired 100% of Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Business Operations Business Operations Den Hartogh Cleaning MISTek, S.L. DYNAJET GmbH poromembrane GmbH BV Industrial assembly and Provider of high-pressure Developer and Tank container cleaning maintenance services water jetting systems producer of hollow fiber business Spain Germany membranes Netherlands Germany Advised on Purchase of Advised on Sale of Advised on Sale of Company Company Advised on Sale of Company Company Advised Grupo JIS on the LEO Familienholding sold Boasso Global, a wholly- purchase of MISTeK, an a majority stake in Dynajet, Advised the shareholders of owned subsidiary of Quality industrial assembly and a leading supplier of water Poromembrane, a developer Distribution, acquired Den maintenance services jetting systems, to Rubikon. and producer of hollow fiber Hartogh’s European depot company. membranes, on the sale of and tank cleaning services the company to Danaher business. Pall Filtersystems. 94 Industrials

Dutch Cabin Group Avedon Capital ASSA ABLOY PBS INDUSTRY, a.s. Temporary and semi- Partners Supplier of door opening Powergen machinery and permanent housing Private equity solutions steel structures Netherlands Netherlands Sweden Czech Republic

Acquired 100% of Acquired Majority Control Acquired 100% of Seller’s Acquired 100% of Business Operations of Business Operations Stock Business Operations

Hamburg Verhuur Bronij Beheer B.V. and Southeastern Dock & BRONSWERK Heat Temporary facilities Ferro-Fix B.V. Door Transfer spol. s r.o. Netherlands Manufacturing and Seller and servicer of Air heat exchangers maintenance of waste industrial dock and doors for refineries and gas Advised on Sale of containers United States industry Company Netherlands Czech Republic Advised on Sale of Advised Hamburg Advised on Sale of Company Advised on Sale of Czech Verhuurm, a specialist in Company Branch temporary rental facilities, Advised Southeastern on its sale to rival Dutch Advised Bronij and Ferro- Dock and Door, a U.S. seller Advised BHT Holding on Cabin Group, a temporary Fix B.V., manufacturers and servicer of industrial the sale of Bronswerk Heat and semi-permanent of underground waste dock and doors, on its sale Transfer, a manufacturer portable accomodation containers, on their sale to to Assa Abloy, a Swedish of power boilers and heat facilities provider. private equity group Avedon supplier of door opening exchangers, to PBS Industry, Capital Partners. solutions. a manufacturer of power generation machinery. 95

Fortinvest bvba Intera Partners Equity B2C security Fund III Belgium Buyout equity fund Finland Acquired 100% of Business Operations Acquired 100% of Business Operations Pro Biometrics bvba B2B security services ISS Security Oy Belgium Guarding and technical security services Advised on Sale of Finland Company Advised on Purchase of Advised Pro Biometrics, a Company B2B security company, on its sale to Fortinvest. Advised private equity group Intera Partners on the acquisition of ISS Security, one of Finland’s largest security businesses.

Materials, Chemicals & Mining 98 Materials, Chemicals & Mining

Ardian 21 Investimenti CCL Industries Inc. Lumson Leading private equity Private equity fund World leader in specialty Primary packaging fund Italy label, security and producer for the B&PC France packaging industry Acquired Majority Control Canada Italy Acquired Majority Control of Business Operations of Business Operations Acquired 100% of Acquired 100% of Cartonpack Business Operations Business Operations Corob Producer of packaging Leader of automation products for food Illen Products Ltd Leoplast solutions for dosing and industry Containers and Primary packaging for dispensing Italy packaging lipstick Italy Canada Italy Advised on Sale of Advised on Purchase of Company Advised on Sale of Advised on Purchase of Company Company Company Advised the shareholders Advised PE fund Ardian on of Carton Pack, a leading CCL Industries acquired Lumson, the European the purchase of a majority company in the production the entire share capital leader in primary packaging control of Corob, a global of packaging products for of Imprint Plus, a for the beauty and personal leader in the supply of the food industry, on its sale manufacturer of containers care industry, acquired automation solutions for to 21 Investimenti. and packaging. Leoplast, an Italian player dosing and dispensing in that specializes in the the chemical, paint, coatings manufacturing of primary and ink industries. packaging for lipstick. 99

LBO France Coesia SpA Wise SGR Wagner Holding Leading private equity Innovative industrial and Private equity fund GmbH fund packaging solutions Italy Family office France Italy Germany Acquired 100% of Acquired 100% of Acquired Molins’ Business Operations Acquired 25.01% of Business Operations Instrumentation & Business Operations Tobacco Tapì S.p.A. Vetroelite S.p.A. Producer of high quality KTP Kunststoff Designer and distributor Molins bar-top closures Palettentechnik GmbH of glass containers Global packaging Italy Manufacturer of reusable Italy solutions group packaging solutions United Kingdom Advised on Sale of Germany Advised on Sale of Company Company Advised on Sale of Advised on Purchase of Molins’ Business Advised Gradiente and other Company Segment Advised Gradiente and other private investors on the sale private investors on the sale of Tapì, a designer of high- Advised family office of Vetroelite, designer and Packaging solutions quality technical bar-top Wagner Holding on the distributor of specialty glass group Molins sold its closures. acquisition of a minority containers. instrumentation and stake in KTP Kunststoff tobacco machinery division Palettentechnik, a to Italian company G.D., a manufacturer of plastic wholly owned subsidiary of reusable transport Coesia. packaging solutions for large-volume and sensitive goods. 100 Materials, Chemicals & Mining

MBO Partenaires Box Print Kft. Bunzl Plc Berlin Packaging Private equity group Producer of self-adhesive Multinational distribution (backed by Oak Hill France labels and outsourcing Capital Partners)” Hungary company Leading full-service Acquired Majority Control United Kingdom supplier of packaging of Business Operations Acquired 80% of Business United States Operations Acquired 100% of Cosmogen Company Acquired Majority Control Cosmetics packaging FSD Packaging Kft. of Business Operations France Producer of rigid Silwell Kft. cardboard packaging Distribution of disposable Bruni Glass Advised on Sale of materials food packaging Glass containers, bottles Company Hungary Hungary & special packaging Italy Advised on Purchase of Advised on Sale of Advised cosmetics Company Company packaging company Advised on Sale of Cosmogen on its sale to Company private equity firm MBO Advised Box Print, a Advised Silwell, a distributer Partenaires. produced of self-adhesive of disposable food Advised private equity group labels, on the purchase packaging, on its sale Ardian on the sale of glass of FSD Packaging, a to Bunzl, a multinational container manufacturer produced of rigid cardboard distribution and outsourcing Bruni Glass to Berlin packaging materials. company. Packaging, a manufactuter of packaging products backed by PE firm Oak Hill Capital Partners. 101

Al Pack d.o.o. Inter IKEA Tebesa Sp. z o.o. Hokuetsu Kishu Paper Manufacturing of Investments AB Manufacturer of non- Co Ltd high-quality packaging Invests in non-listed woven hydroentangled Paper manufacturer solutions Swedish companies spunlace Japan Serbia Sweden Poland Acquired Alpac pulp mill Acquired 100% of Acquired Majority Control Acquired Majority of business operations of Business Operations Shares Alpac Forest Products Inc Uniprint Knauer GmbH Eson Pac Group Novita S.A. Pulp manufacturer & Co KG Complete packaging Producer of spunlace Canada Manufacturing of printed solutions provider and needlepunched lids and labels Sweden nonwovens Represented the Seller Germany Poland Advised on Sale of Advised Al-pac Forest Advised on sale of Company Advised on Purchase of company Shares Products, on its sale to Hokuetsu Kishu Paper. Advised Eson Pac Group, Advised Uniprint Knauer a developer and producer Advised Tebesa, a GmbH & Co KG, a German of complete packaging manufacturer of non- aluminium lid producer, on solutions, on its sale to Inter woven hydroentangled its sale to Al Pack d.o.o, IKEA Investments AB. spunlace, on the purchase manufacturer and supplier of majority shares of Novita, of lacquered and laminated a produced of spunlace and aluminum foils, lids, needlepunched nonwoven aluminum containers, and materials. plastic packaging products. 102 Materials, Chemicals & Mining

Henge Group Capital Partners Sumicol (Grupo SK Capital Partners Trading and logistics Private equity group Empresarial Corona) Private equity firm company United States Mining and materials United States Germany Colombia Acquired Majority Control Acquired 100% of Acquired 100% of of Business Operations Acquired Majority Control Business Operations Business Operations of Sur-Seal Corporation D.B. Western, Inc. - Kominex Leading supplier of Agromil Texas Mineralmahlwerk custom designed sealing Agrochemicals Industrial chemicals GmbH solutions Colombia manufacturer Minerals and processing United States United States company Advised on Sale of Germany Advised on Sale of Company Advised on Sale of Company Company Advised on Purchase of Sumicol (Grupo Empresarial Company Capital Partners acquired a Corona) acquired Agromil, a Advised industrial chemicals majority interest in Sur-Seal manufacturer of agricultural manufacturer D.B. Western Trading and logistics Corp, a producer of custom chemicals located in on its sale to PE firm SK company Henge Group designed sealing solutions. Colombia. Capital Partners. acquired the business activities of Kominex. 103

Holding HBL Vegard Holmen Alio Gold Corporation Undisclosed Buyer Industrial holding Holding AS / Storgata Gold mining Private investor France 74 AS Canada Colombia Investment companies Acquired 100% of Norway Acquired 100% of Acquired 100% of Business Operations Business Operations Business Operations Acquired 40% of Business Loiret Affinage Operations (MBO) Rye Patch Gold Sibelco’s operating Aluminum refining Corporation subsidiary France Ferrometall AS Gold mining Distribution/processing Wholesaler of steel and Canada calcium carbonate Advised on Sale of metals products Company Norway Advised on Sale of Colombia Company Holding HBL, an industrial Advised on Sale of Advised on Sale of Company holding, acquired Loiret Shares in Daughter Alio Gold acquired the entire Affinage, in aluminum Company share capital of Rye Patch refining. Gold Corp, a Vancouver- Advised Sibelco, a Advised Ferrometall based gold ore mine distributor and processor cofounder and his family operator. of calcium carbonate owned holding company products, on the sale of one Leadenhall Metals of its operating subsidiaries Holding on the sale of in Colombia to a private a 40% ownership stake investor. in Ferrometall AS to the company’s management. Ferrometall AS is a Norwegian wholesaler of steel and metals.

Real Estate 106 Real Estate

Management of Borio Mangiarotti SpA CLS Holdings PLC Hines SAproperty.com Real estate development Property investment Global real estate Real estate service Italy United Kingdom investment firm property group United Kingdom South Africa Joint Venture with Acquired 100% of Business Operations Acquired Selected Assets Acquired 100% of Varde Partners of Business Operations Real estate investment Züblin Immobilien United States Property group Banco BPM RE Assets SAproperty.com Switzerland Three buildings owned by Real estate service Advised on JV Banco BPM property group Advised on Purchase of Italy Properties South Africa Borio Mangiarotti, a Advised on Purchase of historical real estate Italian Company Advised on Sale of development company, UK-listed property Company signed a JV agreement with investment company Varde Partners, a world CLS Holdings boosted its Hines, a leading real estate Advised the management leading real estate equity holdings in Germany by investment manager, of real estate service group fund, for the development buying 12 assets from acquired the real estate SAproperty.com on the of an area, located in Milan, Swiss-listed property group portfolio of Banco BPM RE buyout of the company. known as “Park West”. Züblin Immobilien. Assets - composed of 3 assets located in Milan with mixed destination of use (retail and offices). 107

Alliance Group SEA Group Inside Real Estate INFOND investicni Leading asset International property Online marketing fond s promennym management and conglomerate software for real estate zakladnim kapitalem, insurance company China agents a.s. Germany United States Real estate fund Acquired 100% of Shares investing into commercial Acquired 100% of Acquired 100% of properties Business Operations Asian Growth Business Operations Czech Republic Properties Ltd Kensingston Fund Real estate investment Circlepix Acquired 100% of Real estate alternative and developer Marketing automation Business Operations investment fund China SaaS for real estate Italy agents Brno Estates a.s. Advised on Sale of United States SPV owning 35,000 sqm Advised on Sale of Company “A-class” office space Company Advised on Sale of Czech Republic Company Advised real estate Advised the Blackstone developer Asian Growth Advised on Purchase of Group on the disposal to Properties on its sale to Advised Circlepix, a leading Company Allianz of all the units of international property real estate listing marketing Kensington Fund, an Italian conglomerate SEA Group. software provider, on its sale INFOND, a real estate fund closed-end real estate to Inside Real Estate. that invests in commercial alternative investment fund properties, acquired 100% reserved to professional of Brno Estates from investors owning two core Immofinanz. office buildings in Milan and being managed by Kryalos SGR. 108 Real Estate

Reko Asset a.s. Zorgvastgoed bvba Agricola ISIDOR a.s. Prospero International Leading construction and Construction company Czech Catholic Church Realty Inc real-estate development Belgium agribusiness investment Real estate sales and company company property management Czech Republic Acquired 100% of Czech Republic Canada Business Operations Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Gilson’s nv Business Operations Business Operations Real estate company Dolfin Jaro_ova 41 Belgium SUHOX, s.r.o. Thunderbird Marine s.r.o. SPV owning 500 ha of Corp SPV owning building and Advised on Sale of arable land Operator of two marinas development rights Company Czech Republic in British Columbia Czech Republic Canada Advised on Purchase of Zorgvastgoed, a Company Advised on Sale of construction company, Advised on Sale of Company acquired Gilson’s, a real Company estate company. Advised Agricola ISIDOR, Reko Asset, a leading a Czech Catholic Church Advised marina operator construction and real estate agribusiness investment Thunderbird Marine on development company, company, on the purchase its sale to real estate and acquired Dolfin Jaro_ova 41, of SUHOX, an SPV owning property management an SPV owning building and 500 hectares of land. company Prospero development rights. International. 109

Private and Constructora Familienheim Rhein- Institutional Investors Colpatria Neckar e.G. Financial investors Leading construction Housing corporation Hungary company in Colombia Germany Colombia Acquired 26.8% of Acquired 100% of Company Shares through Acquired Investment Business Operations IPO Interest in Seller’s Business von Hauff Duna House Holding Unternehmensgruppe Real estate brokerage La Felicidad Housing administration and investments Real estate management Germany Hungary and development company Advised on Sale of Advised on Tender Colombia Company

Advised on Sale of Advised Duna House, Investment Interest Familienheim Rhein-Neckar Central-Eastern Europe’s eG acquired Von Hauff largest real estate agency Immobilien Holding GmbH, holding, on the tendering Advised Constructora a Neubiberg-based provider of shares on the Budapest Colpatria, the leading of land subdivision services. Stock Exchange. construction company in Colombia, on the acquisition of an investment interest in real estate management and development company La Felicidad.

Technology 112 Technology

Perforce Software Milestone Partners LoopUp Group plc TCV Application development Private equity firm Audio conferencing Globally leading and software United States United Kingdom technology-focused PE/ United States VC investor Acquired Majority Control Acquired 100% of United States Acquired Majority Control of Business Operations Business Operations of Business Operations Acquired Investment RedZone Robotics MeetingZone Limited Interest in Seller’s Programming Robot inspection services Audio conferencing Business Research Ltd. (PRQA) United States United Kingdom Static analysis and Grupa Pracuj coding compliance tools Advised on LBO Advised on Purchase of Poland’s leading online United Kingdom Company recruitment group Private equity firm Milestone Poland Advised on Sale of Partners acquired RedZone Advised remote meetings Advised on Sale of Company Robotics, a technology- firm LoopUp on the Company enabled solutions business acquisition of conferencing Advised Programming that uses proprietary robots, services provider Research, a UK-based sensing capabilities, and MeetingZone from GMT TCV, an international leading provider of software tools to provide Communications Partners. investment group, sophisticated, enterprise- inspection, data collection, purchased a minority grade static code analysis, and asset management and stake in Grupa Pracuj, the on its sale to Perforce decision support services company which owns Software, a global provider primarily for wastewater Poland’s largest jobs of solutions to enterprise pipeline systems. site Pracuj.pl, Applicant teams. Tracking System eRecruiter, Ukrainian leading jobs site Rabota.ua and Emplo, a platform supporting communication and HR processes in companies. 113

Nets Group Aspire Systems Mifratel MisterFly Nets is a leading provider Technology services Inbound and outbound Online travel agency of digital payment company contact center services France solutions India Belgium Denmark Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations Business Operations mTrip Goyello PCS Mobile solutions for Dotpay/eCard IT solution and product Customer contact centre the travel and tourism Polish payment service development Netherlands industries providers Netherlands Canada Poland Advised on Sale of Advised on Sale of Company Advised on Sale of Advised on Sale of Company Company Company Belgian investment fund Aspire Systems, a KeBeK acquired Dutch Advised mTrip, a Canada- Dotpay/eCard, one of the technology services customer contact center based provider of mobile leading electronic payments company, acquired Goyello, PCS via its stake in Mifratel. solutions for the travel and service providers in Poland a developer of IT solutions tourism industries, on its was acquired by payments and products. sale to MisterFly Group, a services firm Nets Group. French online travel booking platform. 114 Technology

Telecomputing AS Tagmaster Lutech S.p.A. Visma AS IT operations and cloud Leader in intelligent IT system integration and Software consulting and services transport systems solutions provider development Norway Sweden Italy Norway

Acquired 100% of Acquired 100% of Acquired 100% of Acquired 100% of Business Operations Business Operations Business Operations Business Operations

Digisys AS Magsys Sinergy S.p.A. Optivasys AB IT operations, consulting Intelligent traffic products System integrator IT consultancy firm and product sales distributor focused on ICT focusing on Qlik software Norway France infrastructure Sweden Italy Advised on Sale of Advised on Purchase of Advised on Sale on Company Company Advised on Sale of Company Company TeleComputing acquired TagMaster, a leader Advised Optivasys, an IT Digisys, a Norwegian IT- in intelligent transport Lutech, acquired Sinergy, a consultancy firm focusing operations, consulting and systems, acquired Magsys, system integrator focused on Qlik software, on its product sales business, that a distributor of intelligent on ICT infrastructure. sale to Visma, a software focuses on the SMB market. traffic products. consulting and development firm. 115

Group of Investors Evry Sweden AB Eurofiber Group Procano AS and Investment Funds Nordic leader in IT Industry leader in digital IT operations Private investors consultancy services infrastructure Norway Turkey Sweden Netherlands Acquired 100% of Acquired Investment Acquired 100% of Acquired 100% of Business Operations Interest in Seller’s Business Operations Business Operations Business Simpleo AS Netrelations of Dataplace BV IT operations iPara Scandinavia AB Datacenter Norway Online payment and Digital transformation Netherlands virtual POS solutions services Advised on Purchase of provider Sweden Advised on Sale of Company Turkey Company Advised on Sale of Advised Procano, a Advised on Sale of Company Advised Dataplace, a Dutch provider of industrialized Company regional Tier III datacenter IT services to small and Advised Netrelations, a operator, on its sale to large businesses, on the Advised iPara, an online provider of IT consulting Eurofiber Group, a provider purchase of Simpleo, an IT payment and virtual POS and solutions, on its sale to of digital infrastructure solutions firm. solutions provider, on its IT services company Evry. services through fiber optic sale to a group of private The acquisition positions networks and datacenters. investors. Evry as the leading digital solutions provider in the Nordic region. 116 Technology

Vitec Software Group Vitec Software Group Firefly Alpine Investors AB AB Private equity Private equity Industry-specific Industry-specific United States United States business systems business systems Sweden Sweden Acquired Majority Control Acquired 100% of of Business Operations Business Operations Acquired 100% of Acquired 100% of Business Operations Business Operations EOS ImageQuix Provides training and SaaS provider focused on Agrando AS Cito A/S tools for business photography industry Industry-specific software Software for pharmacies coaches United States Norway Denmark United States Advised on Sale of Advised on Purchase of Advised on Purchase of Advised on Sale of Company Company Company Company Alpine Investors acquired Vitec Software Group Vitec Software Group The Firefly Group acquired Imagequix Inc, a Greenville- acquired a majority of the strengthened its Nordic software published EOS based software publisher, shares in the software position through the Worldwide. in a leveraged buyout company Agrando. acquisition of the Danish transaction. software company Cito IT. 117

Sofigate Group Oy Battery Ventures Hanover Investors B3IT The leader of IT Technology focused Private equity investment Offers advanced management in the investment firm firm consultancy service Nordics United States United Kingdom within IT Finland Sweden Acquired 100% of Acquired 100% of Shares Acquired 100% of Shares Business Operations Acquired Majority Control Escher Group of Business Operations Csolutor Oy Plixer International, Holdings plc IT integration services Inc. Technology and software Thirdbase AB Finland Network traffic solutions for postal IT consulting and monitoring and analysis sector services Advised on Sale of tools Ireland Sweden Company United States Advised on Sale of Advised on Sale of Sofigate acquired the entire Advised on Sale of Company Company share capital of software Company publisher Csolutor. Hanover Investors, a private B3IT acquired a majority Advised Plixer, a leader in equity investment firm, interest in Thirdbase, an IT network traffic analytics acquired Escher Group consulting services provider and security incident Holdings, a provider of and software publisher. response software, on its technology and software sale to Battery Ventures, a solutions for the postal global technology-focused sector. investment firm. 118 Technology

Ibcos Computers Ltd. Vitec Software Group Vector Informatik Freudenberg Group Software provider AB GmbH Technology group United Kingdom Industry-specific Software and engineering Germany business systems services Acquired 100% of Sweden Germany Acquired 100% of Business Operations Business Operations Acquired 100% of Acquired 100% of Eurocon MOPSsys AB Business Operations Business Operations awetis systems GmbH Software for the pulp and & Co. KG paper industry MV-Nordic A/S Vector Software, Inc. Provider of Sweden Cloud-based assistive Dynamic automated manufacturing execution reading and writing tools testing for embedded systems Advised on Purchase of Denmark software Germany Company United States Advised on Purchase of Advised on Sale of MOPSsys, a leading provider Company Advised on Sale of Company of software for the pulp and Company paper industry was acquired Vitec Software Group Advised Awetis GmbH by Ibcos Computers, a acquired Danish software Advised Vector Software, on the sale of subsidiary division of Constellation company MV-Nordic, a market leading provider Awetis Systems, a provider Software. provider of an industry of dynamic automated of manufacturing execution specific software service test tools for embedded systems, to technology for students with learning software, on its sale to group Freudenberg. disorders. German software publisher and engineering services company Vektor Informatik. 119

Learning Total Specific Spectrum Equity Solera Inc / Audatex Technologies Group Solutions (TSS) B.V. Management IT risk management and Group of specialist Vertical markets software Private equity firm asset protection software learning technology (VMS) United States United States businesses Netherlands United Kingdom Invested in Seller Acquired 100% of Acquired 100% of Business Operations Acquired 100% of Shares Business Operations Tenstreet Provider of web-based HDS (Health Digital NetDimensions Magenta Multimedia tools Systems) Enterprise talent Tools B.V. United States Digital solutions for the management software Software for safety and healthcare industry China healthcare Advised on Mexico Netherlands Recapitalization Advised on Sale of Advised on Purchase of Company Advised on Sale of Served as the exclusive Company Company financial adviser to Advised NetDimensions, an Tenstreet, the leading web- Advised Solera/Audatex, integrated enterprise talent Advised Magenta based provider of driver a global leader in data management software Multimedia Tools, a recruiting software and software on the purchase platform provider, on its developer of software for workflow solutions for the of Health Digital Systems, sale to integrated elearning professional management trucking and transportation a provider of IT services for services and technologies and organizational industry, on its growth the healthcare sector. provider Learning improvement, on its sale investment from Spectrum Technologies. to Total Specific Solutions, Equity. a developer of vertical market enterprise software solutions for businesses in Europe. 120 Technology

MindForge Braathe Gruppen AS Zyme Solutions, Inc. EvolveIP Hub for IT companies Cloud and IT-operator Cloud-based channel Cloud communications and software start-ups player in Norway data solutions company Czech Republic Norway United States United States

Acquired 73.5% of the Acquired 100% of Acquired 100% of Acquired 100% of Shares Company Business Operations Business Operations Mtel BV SODATSW Iterum AS CCI, Inc. Cloud communications Developer of monitoring Cloud and IT-operator Enterprise software and company and encryption software Norway services Netherlands Czech Republic United States Advised on Purchase of Advised on Sale of Advised on Sale of Company Advised on Sale of Company Company Company Braathe Group acquired Evolve IP acquired Advised security software cloud and IT operator Advised CCI, an enterprise Mtel, a European cloud developer SODATSW on Iterum. software and services communications firm based its sale to MindForge, a company, on its sale to in the Netherlands. software publisher and hub Zyme, a cloud-based for IT start-ups. channel data solutions provider. 121

Dustin Group AB Braathe Gruppen AS Pamica AB Combitech AB Leading Nordic reseller of IT management and Swedish private equity Nordic technology IT products cloud computing services firm consulting company Sweden Norway Sweden Sweden

Acquired Majority of Acquired 100% of Acquired 100% of Acquired Majority Control Business Operations Business Operations Business Operations of Business Operations

Purity IT AS Netclient Safe Solutions AB Watchcom Security Data backup and IT management and Digital security company Group AS distaster recovery cloud computing services Sweden Cyber security specialist Norway Norway Norway Advised on Sale of Advised on Sale of Advised on Sale of Company Advised on Sale of Company Company Company Advised Safe Solutions, a Dustin Group acquired Advised Netclient, an IT digital security company, on Advised Watchcom Security, Purity IT, a Norwegian management and cloud its sale to Swedish PE firm a provider of managed company specialized in computing services Pamica. security services, on its sale cloud storage, backup and provider, on its sale to to Combitech, a provider of disaster recovery. Braathe Gruppen, a consulting services within provider of information advanced systems and and communications software design. technology services. 122 Technology

Kindred Group plc Group of Investors Local financial LINK Mobility Group Online gaming company Group of strategic and investors ASA Greece financial investors Financial investors Provider of B2C mobile Hungary Hungary messaging and services Acquired 100% of Shares Norway Acquired Minority Shares Acquired Minority Stake 32Red Plc and Injected Capital Acquired 100% of Shares Online casino company Bechameleon Ltd. United Kingdom Startup provider of Doqsys Zrt. Labyrintti Media Oy mobile bill optimization e-procurement services Provider of B2C mobile Stakebuilding for Ireland Hungary messaging and services Acquirer Finland Advised on Sale of Advised on Sale of Company Advised Stockholm-listed Company Advised on Sale of European online gambling Company group Kindred Group on the Advised Bechameleon, a Advised e-procurment acquisition of 32Red. startup provider of mobile services company Doqsys Advised Labyrintti Media, bill optimization, on its sale on capital raising and the the top provider of mobile to a private investor. sale of minority shares to solutions in Finland, on private investors. its sale to LINK Mobility, Scandinavia’s leading supplier of mobile solutions. 123

Newscyle Solutions Ingram Micro, Inc. Elliott Management ER-Telecom Mobile content and World’s largest wholesale Corporation Independent telecom application automation tech product distributor US-based Tier 1 private service provider in Russia provider United States equity fund Russia United States United States Acquired 100% of Shares Acquired 100% of Acquired Acquired Investment Business Operations RRC Poland Sp. z o.o. Interest in Seller’s DoApp, Inc. Leading IT value-added Business Strela Telecom Mobile application distributor Telecom service provider development Poland Telecom Italia Russia United States Italian main TLC operator Advised on Sale of Italy Advised on Sale of Advised on Sale of Company Company Company Advised on Purchase of Advised RRC Poland, an IT Company ER-Telecom, an Advised DoApp, a value-added distributor, on independent telecom provider of a mobile its sale to Ingram Micro, the Elliot Advisors acquired service provider in Russia, content and application world’s largest wholesale an undisclosed minority acquired Strela Telecom, automation platform for distributor of tech products. stake in Telecom Italia another independent media companies, on its SpA, a Rome-based telecom service provider in acquisition by Newscycle telecommunications Russia. Solutions, a developer of reseller. software technologies for the global news media industry. 124 Technology

Axio Capital CETel GmbH Sobro AB Standard Investment Private equity group Telecommunications Swedish private equity Private equity firm France provider firm Netherlands Germany Sweden Acquired Majority Control Acquired 100% of of Acquired the Global Acquired Majority Control Business Operations Managed Satellite of Business Operations Telerad Services Business Unit Koning & Hartman Aeronautical radio Maintrac AB Network Services communication systems Onlime GmbH System integrator within Construction of glass France Operator of fiber fiber technology reinforced cables and satellite Sweden Netherlands Advised on Sale of telecommunications Company Germany Advised on Sale of Advised on Sale of Company Company Advised Telerad, a firm Advised on Sale of Assets specialized in designing Advised Maintrac, a fiber Advised Koning & Hartman, and manufacturing technology systems a telecom infrastructure radiocommunication Advised wired integrator, on its sale to company, on the sale systems for air traffic telecommunications carrier private equity firm Sobro. of its Network Services control, on its sale to Axio Onlime on the sale of its division, which specializes Capital. Manage Satellite business in the consutruction of to Central European glass reinforced cables, to Telecom Services. private equity firm Standard Investment. 125

CLSA Capital Partners Private investor Addtech Private equity fund Private investor Swedish listed Japan Belgium technology trading group Sweden Acquired 100% of Acquired 100% of Business Operations Business Operations Acquired 100% of Business Operations Hama Engineering Lastertek Trading Semiconductor engineer Real estate company Ingenjörsfirma staffing company Belgium Pulsteknik AB Japan Delivers products to Advised on Sale of Nordic OEM market Advised on Sale of Company Sweden Company A private investor acquired Advised on Sale of CLSA Capital Partners, a Lasertek Trading, an Company PE fund, acquired Hama electrical apparatuses and Engineering, a Japanese equipment wholesaler. Addtech, a Swedish listed electronic parts and technology trading group, equipment wholesaler. acquired Ingenjorsfirma Pulsteknik, a deliverer of electrical components to the Nordic OEM market.

Transport & Logistics 128 Transport & Logistics

Quivado B.V. BBM Logística Schey-Beek B.V. Superfrio Armazéns Private investor Investee of Stratus (PE Private equity group Gerais S.A. Netherlands fund) Netherlands Warehousing Brazil Brazil Acquired 100% of Acquired 100% of Business Operations Acquired 100% of Business Operations Acquired 100% of Business Operations Business Operations Transportcentrale K.G. van Vliet Verhuur Rotterdam Beheer BV Kuehne + Nagel B.V. Cefri Logistic services in Brasil (Road Freight Rental and sale of Refrigerated warehouse container and paper Business) containers Brazil transport Brazilian road freight Netherlands Netherlands business of leading Advised on Sale of global logistics company Advised on Sale of Company Advised on Sale of Brazil Company Company Superfrio Armazéns Gerais Advised on Sale of Schey-Beek, a private equity acquired Cefri, a provider of Advised on the sale of Company group, acquired K.G. Van refrigerated warehousing. logistics services company Vliet Verhuur, a containers Transportcentrale Kuehne + Nagel Brasil’s wholesaler and provider of Rotterdam Beheer to road freight business was rental services. Quivado. acquired by BBM Logistica, an investee of PE fund Stratus. 129

Kuljetusliike Ville QuattroR SGR Hint B.V. Herfurth Logistics Silvasti Oy Leading Italian private Shareholder of Van Hooff International freight Industrial special and equity fund Internal Transport forwarding and logistics heavy project logistics Italy Netherlands Belgium Finland Acquired Investment Acquired 100% of Acquired 100% of Acquired 100% of Interest in Business Operations Business Operations Business Operations Fagioli S.p.A Mr. P. Venn (Yale M-Star Freight Frank Nørager & Co. Heavy transportation Nederland B.V.) Services A/S and applied engineering Forklifting and Professional logistics Special transportation of company warehousing service provider wind turbines Italy Netherlands Netherlands Denmark Advised on Sale of Advised on Purchase of Advised on Sale of Advised on Purchase of Company Company Company Company QuattroR SGR, an Italian The shareholders of Van Advised logistics services Ville Silvasti, a provider private equity fund, acquired Hooff Internal Transport provider M-Star Freight of special and heavy a minority stake in Fagioli, acquired forklift and Services on its sale to transportation as well a leading international warehousing firm Mr. P. Herfurth Logistics. as project logistics engineering company in the Venn (Yale Nederland B.V.). services, acquired Frank design and construction Nørager & Co., the largest of high-tech handling and transportation company lifting systems and in the in Denmark specializing in shipping of plants with wind power logistics. technical and logistical complexity of transport. 130 Transport & Logistics

HERPORT FEMSA Logistica Keolis Keolis Freight forwarding Largest distribution Public transport solutions World leader in public France logistics provider in worldwide transport operations Mexico France France Acquired 100% of Mexico Business Operations Acquired 100% of Acquired 100% of Acquired Majority Control Business Operations Business Operations EAS International of Business Operations Industrial emergency Groupe Péglion LES COCCINELLES freight forwarding Open Market Public transport solutions Public transport France Logistics provider for France operations for disabled pharma industry in people Advised on Sale of Colombia Advised on Sale of France Company Colombia Company Advised on Sale of Advised on Sale of Company Advised EAS International, Keolis acquired the public Company provider of industrial transport business from emergency freight Péglion Group. Advised Les Cocinelles, a forwarding services, on its Advised the founding provider of public transport sale to Herport, a provider shareholders of Open operations for disabled of freight transportation Market, the undisputed people, on its sale to Keolis, arrangement services. leader in integrated a global leader in public logsitics solutions for the transportation operations. pharmaceutical industry in Colombia, on the sale of an 8-% equity stake to FEMSA Logistica of Mexico. 131

Arriva plc Adventura Prevozi Peterson Control Consortium of private Leading passenger d.o.o. Union Group B.V. investors BMCE Bank transportation company Bus transportation Logistics provider and Attica Group in Europe Slovenia Netherlands Leading Moroccan bank / United Kingdom Ferry owner & operator Acquired 97.3% Shares Acquired Investment Morocco / Greece Acquired 78.3% of the Interest in Seller’s Group Avrigo d.o.o. Business Launched Business Bus transportation Operations Autotrans d.d. Slovenia EWT Largest intercity bus Schiffahrtsgesellschaft Africa Morocco Links company in Croatia Advised on Sale of mbH Passenger & freight ferry Croatia Company Barging and logistics operator Germany Morocco Advised on Sale of Adventura Prevozi Company Advised on restructuring Holding doo agreed to Advised on Sale of of €25 million debt and acquire a 97.31% interest Company a €10 million capital Advised majority owners in Avrigo dd, a Nova injection of Autotrans, the largest Gorica-based provider of Advised Interrijn intercity bus company in charter bus services, from Holdings on the sale of Croatia, on its sale to Arriva, Zavarovalnica Triglav dd. a minority stake in EWT Advised a consortium the leading passenger Advised the seller Avrigo in Schiffahrtsgesellschaft, a of private investors led transportation company in the transaction. provider of deep sea freight by BMCE Bank on the Europe. transportation services, to establishment of a new ferry logistics provider Peterson services line Africa Morocco Control. Links (AML) in partnership with international ferry operator Attica Group. 132 Transport & Logistics

Somtralux sa Famous Holdings Pte Rosneft NK Somers nv Barge owner Ltd (subsidiary of Major Russian integrated Barging company Luxembourg Singapore Post Ltd) oil company Belgium Provider of freight Russia Acquired 100% of forwarding services Acquired 100% of Business Operations Singapore Acquired Majority Control Business Operations of Business Operations Tankreederei I Acquired 80% Stake in Vinotra bv Barge owner Lavna Oil Terminal Barging company Luxembourg Rotterdam Harbour Oil terminal in Murmansk Netherlands Holding B.V. Russia Advised on Sale of Provider of consolidation Advised on Sale of Company and forwarding services Advised on Sale of Company Company Netherlands Advised Tankreederei, a Advised Holdifima, a provider of inland water Advised on Sale of Advised on the sale of holding group and parent freight transportation Company the Lavnia oil terminal to of Vinotra active in the oil services, on its sale to Rosneft, Russia’s leading transportation industry, Somtralux. Advised Rotterdam Harbour integrated oil company. through a complex Holding B.V., a Rotterdam- restructuring and sales based provider of port process to barge company and harbour services on Somtrans. its sale of an 80% stake to Famous Holdings Pte Ltd, a subsidiary of Singapore Post Ltd, a provider of freight forwarding services.

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