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Finatem Invests in Schollenberger Kampfmittelgruppe

- Participation via the Finatem IV Fund

- Takeover of the market leader with further growth potential

- Financing of further expansion

Finatem acquires a majority shareholding in the Schollenberger Kampfmittelbergetungsgruppe ("Schollenberger Group") through its fund Finatem IV, which it administers.

The Schollenberger Group is the market leader in Germany and Austria in the field of civilian armament investigation and reconnaissance. The company employs around 320 people at its headquarters in Celle and the eight other locations in Germany and Austria. The range of services includes the search for ammunition and bomb blowers on land and water as well as their subsequent recovery and disposal. The latest technologies and equipment are used. Customers are private and public-law builders as well as construction companies.

As a result of the battles of the Second World War, in Germany alone, about 90 thousand tons of unarmed weaponry is currently being used. In addition, there are weapons of massacre on armed and active military training sites of the Bundeswehr and NATO, as well as the former army and the former Warsaw Pact.

"The guarantee of freedom from warfare is compulsory in Germany and Austria and is the responsibility of the client. The issue has become increasingly important in public perception in recent years, also due to the spectacular bomb finds of the recent past. In the future, we expect a high demand for professional armaments and combat equipment to ensure the life and health of all parties involved in construction and infrastructure projects. With the Schollenberger Group, we have now been involved in this area through our Finatem IV fund, "explains Finatem partner Eric Jungblut.

Boris Yudin, investment manager at Finatem, adds: "The Schollenberger Group enjoys an excellent reputation among its customers and guarantees a high-quality execution of all work with comprehensive and strict working safety. The company has developed well in recent years and fits into our portfolio. Now we will support further growth with capital and know-how. "

Finatem acquires the Schollenberger Group together with the current managing directors Klaus Löhle and Dr. Boris Töller. These will continue to lead the group in the future. Seller is Celler Brunnenbau Holding GmbH. In order to promote further company growth, Finatem will provide the company with extensive financial resources. As a first step, the company's headquarters in Celle is to be expanded in order to expand capacities and take account of the increased space requirements of the growing company group.

"With Finatem we have found an entrepreneurial partner who will support us in our expansion", confirms Klaus Löhle, Managing Director of the Schollenberger Group. "I am looking forward to a successful joint future and a collaboration characterized by mutual appreciation."

Brentwood Announces Sale of K-Mac Holdings Corp

Brentwood Associates announced that it has sold K-MAC Holdings Corp. K-MAC, headquartered in Fort Smith, Arkansas, is one of the largest Taco Bell franchisees in the country, and also operates KFC and Golden Corral restaurants. Financial terms were not disclosed.

Brentwood, in partnership with Arlon Food and Agriculture Investment Program, invested in K-MAC in 2011. Since then, K-MAC significantly expanded its geographic footprint, increasing its restaurant count from 190 in 2011 to 294 today, with restaurants located across 9 states. The company has grown over the past few decades through a combination of new store openings and acquisitions. Today, K-MAC operates 271 Taco Bell restaurants, 17 KFC restaurants and 6 Golden Corral restaurants and has over 7,500 employees.

K-MAC is led by CEO Sam Fiori and President and COO Tina Reagan, who will continue to lead the business going forward. Commenting on the transaction, Fiori said, “Brentwood has been a wonderful partner over the last five years, and provided very helpful support and resources to help drive our growth.” Tina Reagan also commented, “It was very important to us to have a partner that really understood and allowed us to invest in our one-of-a-kind K-MAC culture of high performance stores and operational excellence. We look forward to continuing to build upon our success as a leading franchisee into the future.”

Brentwood and Arlon are exiting their ownership position as part of the transaction. Rahul Aggarwal, Partner at Brentwood, commented, “It’s been a pleasure to partner with Sam, Tina and the entire K-MAC team, and be part of the 50-year legacy of excellence at K-MAC. Their leadership, along with strong brand stewardship by our franchisor partners, has been a great combination.”

The sale of K-MAC is Brentwood’s third transaction in the restaurant industry in 2016. Earlier this year, Brentwood completed equity investments in Pacific Catch, a polished casual seafood concept, and Veggie Grill, a premium fast casual concept, both based in California.

North Point Advisors LLC and Houlihan Lokey Capital, Inc. acted as financial advisors, and Burr & Forman LLP acted as legal counsel to K-MAC in connection with the transaction.

NAZCA SELLS BIOGRAN, THE LEADING MANUFACTURER AND DISTRIBUTOR OF ORGANIC BRANDS IN SPAIN

Nazca sells Biogran to Wessanen, a €600 million sales Dutch quoted company leader in Europe in the organic food market.

Biogran is leader in the Spanish organic food market, owns some of the strongest brands and has an impressive track record of profitable growth. The company has excellent innovation, distribution and customer relationship capabilities. It is an expert in organic food raw material sourcing, quality management and manufacturing. It employs 128 people and currently operates 2 manufacturing/office sites in the Madrid area.

Over the last few years, Biogran has recorded strong growth in both Health Food Stores as well as in Grocery Trade in Spain. In 2015, net revenue amounted to €27 million. In 2016, net revenue is expected to grow to €32 million with an EBITDA margin of close to 17%.

Nazca has developed Biogran from a family business to a highly professionalized company while keeping its strong family culture and has developed a growth plan to strengthen its position in the Spanish organic food market. Biogran´s current management team will be leading the future development of the company.

Wessanen has a solid trajectory of developing family-owned business in international markets, which together with its focus in natural/ organic food, makes Wessanen an ideal partner for Biogran’s next growth stage. Wessanen will further strengthen Biogran’s leadership position in the Spanish market, one of the most attractive organic food markets in Europe.

This transaction fits with Nazca’s core investment strategy of creating strategic value in family-owned companies with ambitious growth projects and exiting to industrial players.

Alantra and DLA have acted as advisors to Nazca and Hogan Lovells to Wessanen.

Since 2001 Nazca has completed 57 transactions: 23 acquisitions, 16 further built-ups on portfolio companies and 18 divestments.

Nazca has fully invested and divested Fondo Nazca I and Fondo Nazca II with sizes of €100 million and €150 million, respectively.

Stone-Goff Partners Announces Investment in The Channel Company

NEW YORK, NY – Stone-Goff Partners (SGP) announced today that it has invested in The Channel Company (TCC), the leading provider of IT channel-related media, events and other marketing solutions to the IT Channel. The investment will support several new initiatives in terms of growth in research, data, managed marketing services as well as opportunistic acquisitions of competitively-positioned industry participants.

Founded in 1982, Boston-based TCC is an IT channel-focused B2B marketing platform enabling technology companies to target and reach their channel partners. The company’s deep management team currently leads more than 100 employees focused on servicing its blue-chip customer base of over 400 technology companies and channel partners. TCC leverages its primary media outlet, www.crn.com, and its proprietary database with the largest and most accurate set of data regarding channel relationships in North America, to provide comprehensive IT channel marketing services.

Today, IT industry executives estimate that 70%+ of all technology sold into the corporate enterprise market in the Americas is facilitated by an IT channel partner. Through its media offerings, live events, consulting, proprietary research and managed marketing services, TCC helps its customers optimize their channel marketing strategy and drive new revenue through the indirect sales channel.

“We are thrilled to have found what we believe is a great partner in Stone-Goff,” said TCC CEO Robert Faletra. “We are growing so fast we had the luxury of looking for a partner that not only understands the business, but is clear in understanding how we can accelerate the buildout of our offerings and delight our customers,” Faletra noted.

“We are excited to partner with Bob and his team to enhance TCC’s fast growing service offerings through leveraging the Company’s dominant brand and proprietary database,” said Hannah Stone Craven, co-founder of Stone-Goff Partners. “The company’s depth of talent and expertise within the IT channel and culture of growth underscores TCC’s continued potential.”

CHILDS Advisory Partners served as the exclusive financial advisor to The Channel Company in this transaction. Citizens Bank, N.A. provided senior debt financing and Northstar Capital provided mezzanine financing and equity co-investment.

Silver Oak Services Partners Completes Sale of Accent Food Services

Evanston, IL – December 1, 2016 — Silver Oak Services Partners, LLC (“Silver Oak”), a leading lower-middle market private equity firm focused exclusively on business, healthcare and consumer services companies, announced today that it has completed the sale of its equity interest in Accent Food Services (“Accent” or the “Company”) to Boston-based Audax Private Equity (“Audax”).

Headquartered in Austin, Texas, Accent is a leading route-based distributor of fresh food, snacks and break room refreshment services to customers throughout Texas.

Silver Oak made its original investment in Accent in December 2008.  During Silver Oak’s ownership, Accent completed 16 acquisitions, built a best-in-class management team, invested heavily in technology to drive efficiencies throughout the business, entered three new geographies, and launched a new micro-market service offering.

“We are extremely proud of our partnership with the Accent management team,” said Greg Barr, Managing Partner at Silver Oak.  “They have fundamentally transformed the business over the last eight years while driving significant top and bottom-line growth.  Accent is well positioned for the future and we wish them well as they continue to expand their geographic footprint.”

“Working together, we have grown Accent into a leading independent refreshment services provider in Texas, and I am proud and grateful to our entire team for the excellent customer service they provide and for the results they have achieved,” said Tom Hawkins, the founder of Accent.

Josh Rosenberg, CEO of Accent, noted, “Silver Oak has been an excellent partner. With their active support and guidance, we experienced significant growth while enhancing the value we bring to our customers. We look forward to working with Audax in an effort to continue building upon this success.”

Lincoln International and Locke Lord LLP acted as financial advisor and legal counsel to the sellers, respectively.

VULCAIN INGÉNIERIE EXPANDS ITS ACTIVITY INTO THE PHARMACEUTICAL INDUSTRY

Following the acquisition by NiXEN in 2014 of a majority interest in the company, Vulcain Ingénierie announces its expansion into the pharmaceutical industry through a strategic acquisition.

After two already completed build-ups during the 1st half of 2016, Vulcain Ingénierie pursue its development strategy with the acquisition of Consultys, the French leader in engineering consulting specialized on the pharmaceutical and biotechnology sectors.

Since its creation in 2005, Consultys has experienced an outstanding growth path with an increase of its turnover in the range of 20% per year over the last years, such a growth mostly relying on the accompaniment of leading pharmaceutical laboratories’ projects, in France and abroad.

This operation enables Vulcain Ingénierie to expand its activity on a business sector sharing similar technical issues, and to confirm its market positioning as a specialist. Thanks to this 3rd operation and an intense organic growth, Vulcain will have doubled its size during the last 24 months.

Since 2014, with the support of NiXEN, Vulcain has reinforced its position in the energy sector and notably in the nuclear industry, bringing competences and specialist consultants into the biggest industrial projects of this industry. Such a tie-up with Consultys is a new step in our development and provides Vulcain with the opportunity to sustain its future growth via a new sectorial expertise” explain Alban Guilloteau and Frédéric Grard, Managing Directors of Vulcain Ingénierie.

The development plan of the new whole relies on the intensification of its presence alongside its top clients, particularly in France and Belgium, and on the continuation of the international development started over the last years by both companies.“

Beyond the business relevance of this 3rd operation for Vulcain in 2016, this acquisition brings closer two companies sharing the same organic growth levers: reinforcement of their presence alongside existing top clients, areas of expertise expansion and international development”, said Jean-Paul Bernardini, CEO of NiXEN.

In the course of this build-up, Vulcain has decided to adjust its financing structure, in order to better handle strong growth prospects, by the setup of a unirate debt structured by Idinvest teams.“The acquisition of Consultys has offered the opportunity to build with Idinvest, Vulcain mezzanine lender since 2014, a solution to increase its financing capabilities, in a context where numerous external growth opportunities remain open to the Group” added Johann Le Duigou, Partner of NiXEN.

CONTRIBUTORS

NiXEN Partners

Jean-Paul Bernardini, Johann Le Duigou, Laurent Brossaud-Monty

Initiative & Finance

Matthieu Douchet, François Golfier

Vulcain Ingénierie

Alban Guilloteau, Frédéric Grard, Bertrand de Belmont

Consultys

Florent Jean, Philippe Hoernel, Pierre Gourion

Idinvest Partners

François Lacoste, Nicolas Nedelec, Valérie Ducourty, Olivier Sesboüé, Sorian Abouz

Goodwin (Corporate, Financing)

Thomas Maitrejean, Adrien Paturaud, Thomas Dupont-Sentilles, Hind Badreddine

LEK (Strategy Due Diligence)

David Danon-Boileau, Arnaud Sergent, Ahmed Kadri, Philippe Gorge

KMPG (Accounting & Financial Due Diligence)

Olivier Boumendil, Antoine Bernabeu, Pierre Ekel, François Magni, Isabelle Donis, Daniel Halbron

STC Partners (Tax Structuring, Legal, Tax & Social Due Diligence)

Bertrand Araud

Marsh (Insurances Due Diligence)

Jean-Marie Dargaignaratz

Ixa Avocats (Seller Lawyer)

Sylvain Lagneaux, Nacera Djaafar

Paul Hastings (Financing Lawyer)

Mounir Letayf, Adeline Tieu-Roboam, Aladin Zeghbib

Kerius Finance (Hedging Strategy)

Sébastien Rouzaire

ABOUT NiXEN

An independent management company, NiXEN accompanies French SME and mid-market companies in their strategic and equity growth as part of majority buyout operations. NiXEN invests more than €10 M per transaction in companies with revenues over €40 M and intervening in its three sectors of expertise: health, services and specialized retail. As a responsible and committed investor, NiXEN establish strong and authentic partnerships with these companies, bringing them an experienced team with a development focus, notably on build-ups and in the international arena, pursuing a shared goal to create value.

Main portfolio companies: Buffalo Grill, Babeau-Seguin, Carré Blanc, La Grande Récré, Vulcain, weave.

Main former portfolio companies: Labco, Vedici, Asteelflash, Ceva, Newrest, CTM Style.

To learn more: www.nixen.com

ABOUT VULCAIN

Created in 1998, Vulcain Ingénierie is a fast growing international group based in France with more than 850 engineering consultants. The company assists its clients in developing their businesses on the full EPCC cycle (Engineering, Procurement, Construction and Commissioning). Vulcain Ingénierie has a first-class client portfolio with the leading French companies, some of them also being world leaders of their sectors.

To learn more: www.vulcain-ingenierie.com

Nazca, Investcorp acquired a majority stake in Agromillora

NAZCA, AGROMILLORA and Investcorp announced today that they have reached an agreement for Investcorp to acquire a majority stake in the Company. Through this acquisition, the shareholders of the Company shall consist of Investcorp, the founders of the company and its management team.

Founded in 1986 in Subirats (Barcelona), AGROMILLORA is the world leader in plant propagation for the agricultural industry, with special emphasis on woody species including olive, almond and other stone fruit and seeds. In the 90s and early 2000s, the company pioneered the production and marketing of olive trees for intensive cultivation with disruptive technology applied to high density plantations and since then has also developed similar improvements for growing almonds, citrus and other fruit trees.

Since then, AGROMILLORA has diversified its activity providing nurseries and growers around the world a wide range of high-quality seedlings through its laboratories in vitro multiplication located on five continents and has developed proprietary models superintensive plantation patents and products such as Rootpac®, Micrograft® or Smarttree®.

The AGROMILLORA experienced growth in recent years due to constant innovation and outstanding R & D, as well as its international expansion in North and South America, Australia and Middle East. Today, the Company has 11 production sites in 9 countries serving more than 300 nurseries and 1,500 producers in more than 25 countries and employs more than 1,300 people worldwide. In 2016 the Company expects to produce and sell more than 65 million plants worldwide

Closing of Nazca Fund IV

NAZCA raises its fourth fund, Fondo Nazca IV, in less than six months. Initial target set for the fund, €250M, was oversubscribed. NAZCA will close the fund at its €275M hard cap by December.

Nazca has received strong support from the majority of its existing investors as well as four high quality European institutional investors.

Fondo Nazca IV will continue investing in Spanish mid-cap companies (sales between €30M and €200M) with proven track record and leaders in their markets. NAZCA is specialized in partnering with families and management teams to develop both national and international growth plans.

NAZCA leads the mid-market segment in activity and returns. Since 2001 NAZCA has completed 55 transactions: 23 acquisitions, 16 add-ons (from its portfolio companies) and 16 divestments.

NAZCA has fully invested and divested Fondo Nazca I and Fondo Nazca II with sizes of €100 million and €150M, respectively. At present, NAZCA manages its third fund Fondo Nazca III, a €230M fund sponsored by top international institutional investors with a portfolio of 8 companies: Eurekakids (educational toys), Grupo OM (visual merchandising), Agromillora (R&D in the agricultural sector), Gestair (private aviation), FoodBox (retail food), El Granero Integral (natural/ecological food), Distribuciones Juan Luna (food) and Caiba (PET packaging). NAZCA has divested from: Svenson (hair treatments), Rodilla (fast food), Dibaq (animal feeding), Unipost (postal operator), Vinartis (wine sector), Lizarrán (food-retail), El Derecho (legal contents), Guzmán (gourmet food), Acens (hosting), Hedonai (medical-aesthetic sector), Elogos (e-learning), Fritta (Frits and glazes in ceramic sector), Autor (outdoor advertising), Grupo IMO (radiotherapy services) and Logifrio (specialized logistics). www.nazca.es

Danish Consortium Comprising Axcel, PFA and PKA acquires control of Danish Ship Finance A/S

Danish consortium comprising Axcel, PFA and PKA acquires control of Danish Ship Finance A/S - Danish Ship Finance is a ship finance institute which uses a simple and effective business model for financing ships against a first mortgage for Danish shipowners and for non-Danish shipowners.

As announced in Danish Ship Finance's company announcement No. 13 of 11 June, 2015 the Board of Directors of Danish Ship Finance in 2015 initiated a strategic review of potential development scenarios. The purpose was to support continued development of the ship finance business and to increase liquidity in the shares of the company.

The Board of Directors and the Large Shareholders view Axcel's, PFA's and PKA's ownership as a highly satisfactory solution ensuring a continued strong Danish ship finance institution backed by well capitalized owners and potential for controlled global growth in co-operation with Danish and international shipping companies. Furthermore, the transaction is a sale of assets which are no longer considered core to the Large Shareholders.

Peter Lybecker, Chairman of the Board of Directors, comments: "The Large Shareholders have in co-operation with the the company conducted a broad and thorough strategic review and have had dialogues with multiple interested parties. In my view, Danish Ship Finance will in Axcel, PFA and PKA, obtain a strong ownership able to support the company and accelerate the continued development of the ship finance business in the interest of its employees, customers and business partners."

The new owners wish to continue developing Danish Ship Finance in accordance with the current strategy and led by the current Executive Management. Changes among the shareholder-elected board members are expected.

The new owners will acquire Danish Ship Finance through a holding company, AXPP ShareCo A/S, which is owned equally between them. The Large Shareholders and the consortium have agreed a price per share of DKK 14.166667 corresponding to a value of all shares in Danish Ship Finance of DKK 4,722 million. In addition to equity, the acquisition is financed by supplementary capital from PFA and PKA and bank financing (bridge financing).

In connection with the transaction, the other A-shareholders in Danish Ship Finance will receive an offer to sell each of their A-shares at the same price and terms as agreed with the Large Shareholders. The offer to the other A-shareholders is expected to be submitted during the first half of October 2016.

The Board of Directors of Danish Ship Finance has noted that the price and other terms are satisfactory to all larger shareholders who have decided to sell. The shareholdings of the Large Shareholders represents a controlling interest and the other shareholders will, consequently, achieve the same price and terms as have been agreed for control of the company.

The Danish Maritime Fund is the owner of all the B-shares in Danish Ship Finance, which constitutes 10 % of the total share capital in the company. The Danish Maritime Fund has a special relation with Danish Ship Finance and therefore wishes to be a part of the future ownership of Danish Ship Finance in conjunction with the new owners.

According to the Interim Report for the first half year 2016 (Danish Ship Finance's company announcement No. 14 of 22 August 2016), the capital ratio of Danish Ship Finance was 18.8 % as of 30 June 2016 which is an increase from 17.3 % at 31 December 2015. After the transaction, the new owners are expected to adjust the capital of the company by distribution of surplus liquidity by way of a dividend in an amount of DKK 1 billion to AXPP ShareCo A/S and any other remaining A-shareholders. Adjusted for such dividend, the capital ratio would pro forma be 16.9 % resulting in a solvency surplus of 7.6 %, including the combined buffer requirement of 0.9 % as of 30 June 2016. The dividend will be used to redeem the bridge financing put in place in relation to the transaction.

Standard & Poor's have most recently published an A rating of the listed bonds of Danish Ship Finance and have awarded a BBB+ issuer rating to Danish Ship Finance. The ratings are not expected to change materially as a result of the transaction. Standard & Poor’s is expected to make a separate announcement in the near term in accordance with common practice.

The Board of Directors have approved AXPP ShareCo A/S as owner of the shares of the Large Shareholders and the shares that may be tendered by other shareholders in connection with the offer to be made.

The transfer of the A-shares in Danish Ship Finance is conditional upon approval from the Danish FSA and approval by the relevant competition authorities. It is expected that the transfer will complete during 2016.

SG Announces the Sale of Learners Edge

NEW YORK – Stone-Goff Partners (SGP) announced today that it has sold Learners Edge to L Squared Capital Partners, a private equity firm based in Newport Beach, CA specializing in education investments.

Based in Lakeville, Minn., Learners Edge is a leading direct-to-teacher provider of online professional development, continuing education and master’s degree programs for K-12 teachers. Founded in 2002 by two middle-school geography teachers, the company was established with the mission to help teachers advance their classroom skills and careers, while also improving student learning. Co-founders Joe Cotter and Kyle Pederson started with innovative distance-learning courses, enabling teachers to secure their education and training whenever and wherever they preferred. As the distancelearning model transitioned online, they invested heavily in an online platform that could deliver full course curriculum. Learners Edge is now the largest online direct-to-teacher continuing education provider in the U.S.

In 2013, Stone-Goff Partners invested alongside the company’s co-founders. With enhanced focus on reaching more teachers and developing proprietary online content, the business continued its rapid growth trajectory.

“The Learners Edge team – led by CEO Joe Cotter – developed a clear, mission-driven approach for the development and dissemination of continuing education for teachers. Our successful exit is a testament to the value created by the management team since our investment and demonstrates the company’s strength in helping on-the-ground teachers improve classroom instruction and student learning,” said Hannah Craven, co-founder of Stone-Goff Partners. “As the company’s first outside investor, we are honored to have been able to partner with Joe, Kyle, Julie Yaeger, Jenny Oelkers, Mark Hrubes and the entire Learners Edge team. We wish them and their new investment partners the very best as they continue to deliver high-value professional education to teachers around the country.”

George K. Baum Capital Advisors acted as exclusive financial advisor to Learners Edge in this transaction. Avante Mezzanine Partners provided debt and equity co-investment. Fredrikson and Byron P.A. served as legal counsel to Learners Edge.

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