DGAP-News: EQT Partners AB: EQT establishes holding company in Sweden for operations and new funds
(firmenpresse) - DGAP-News: EQT Partners AB / Key word(s): Private Equity
EQT Partners AB: EQT establishes holding company in Sweden for
operations and new funds
04.06.2013 / 08:40
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Press Release June 4, 2013
EQT establishes holding company in Sweden for operations and new funds
- EQT will organize all activities under one holding company - EQT
Holdings AB
- EQT has grown to become a major owner in many economies, which
increases the requirements for openness and clear governance. The
establishment of EQT Holdings AB, demonstrates EQT's ambition to meet
these requirements, following last year's decision to manage all funds
established in 2012 and onwards onshore in Europe
- Investor AB will be a shareholder in the new holding structure
together with partners of the investment advisor EQT Partners
EQT has implemented a new corporate structure in order to better align with
various stakeholders. The new structure will facilitate growth, as well as
increase transparency and secure a solid, long-term financial platform. The
aim is to make EQT an even more trusted owner. It is envisaged that going
forward, operations, fund administration and investments in general
partners will be brought together under EQT Holdings AB, a company based in
Stockholm, Sweden. Conni Jonsson is CEO of EQT Holdings AB.
Currently, EQT consists of 15 funds with a combined committed capital of
EUR 20 billion. In 2012, sales of EQT's 49 portfolio companies increased on
average by 11% compared to 2011 and EBITDA increased by an average of 10%.
By the end of 2012, the number of employees stood at more than 550,000.
'Since the start of EQT Partners in 1994 and the first EQT fund raised in
1995, there has been strong growth. In order to support the future growth
and to become an even more trusted owner, a new efficient and transparent
corporate structure has been established. EQT Holdings AB will have an
independent Board of Directors and a Nordic governance structure. This is a
natural step following the decision to manage all funds established 2012
and onwards onshore in Europe, in places such as the Netherlands,
Luxembourg and the UK. Our ambition is to secure trust and demonstrate
co-operation with all stakeholders in addition to delivering good returns
to EQT's investors. In the future, we would like it to be possible to
establish EQT funds also in the Nordic countries,' says Conni Jonsson, CEO
of EQT Holdings AB and co-founder of EQT Partners.
The new structure enables EQT Holdings AB to accumulate a sustainable and
long-term financial reserve for stable organic expansion and a buffer
across business cycles.
EQT Holdings AB will be 81% owned by partners of the investment advisor EQT
Partners. The remaining 19% will be owned by Investor AB. Investor AB will
exchange its current 31% in EQT Partners AB for the ownership stake in EQT
Holdings AB.
'We are happy that our relationship with Investor AB continues in this way.
Investor AB remains a key investor in the EQT funds and we share the same
passion for the growth and development of successful companies. We also
share the Wallenberg group's values and unique network,' said Conni
Jonsson.
The owners of EQT Holdings AB will jointly appoint a new board for EQT
Holdings AB. This process is currently underway and the board will consist
of senior and experienced international industrialists.
Fund managers established from 2012 and onwards will be part of the new
structure. Older funds retain the former structure.
'By making these changes, it not only secures a platform for future growth,
but I believe we are also taking a lead in moving EQT further towards
alignment with current values and requirements in society, for better
transparency, accountability and performance,' says Conni Jonsson.
Investor AB's and the partners' ownership in EQT Holdings AB is subject to
required regulatory approvals and notifications.
Contact: EQT HoldingsFacts about EQT
Communications: +46 8 506 55 389, ruth.corke(at)eqt.se
EQT is the leading private equity group in Northern Europe with
approximately EUR 20 billion in raised capital, portfolio companies with
total sales of more than EUR 25 billion and over 550,000 employees. The
funds' investment philosophy is to help acquired companies grow and develop
into great and sustainable companies, both under EQT's ownership and with
future owners. The result so far: the over 60 previously or currently owned
portfolio companies have during EQT's ownership seen an average annual
increase in the number of employees by 11%, sales by 11% and earnings by
15%. Almost all of the return on investments is attributed to operational
improvements such as increased sales and efficiency gains.
EQT supports a growth oriented business strategy, which has its roots in
the Nordic culture, and a transparent governance model, combined with
access to EQT's unique international network of industrialists. By
implementing clear strategies and having access to operational expertise
and ownership skills, the portfolio companies develop and grow. The
strategies and implementation of operational excellence are driven by the
appointed CEO and management team, board members who are handpicked from
EQT's Industrial Network. Portfolio companies are monitored by more than
120 Investment Advisory Professionals from EQT Partners. EQT's funds
represent the investment of hundreds of investors from all parts of the
world.
Funds launched since the beginning of 2012 are managed in the Netherlands,
the UK and Luxembourg. EQT Holdings AB, based in Stockholm, Sweden is the
parent company of these general partners/fund managers. This means that EQT
applies a corporate structure with transparency for all stakeholders,
unique in the private equity industry.
EQT's mission since its first investment two decades ago remains the same -
create value in medium-sized to large companies in Northern and Eastern
Europe, Asia and the United States by investing, helping them to develop
and transform into great, leading companies.
End of financial news
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Datum: 04.06.2013 - 08:40 Uhr
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