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Advent International agrees investment in Planet to accelerate growth in global integrated payments

Existing investor, Eurazeo, to share co-control with Advent, providing stability and accelerated growth for Planet
Investment will accelerate Planet’s global leadership in payments
Advent brings proven track record in payments and software

LONDON, May 28, 2021 – Planet, a global integrated payments leader, will accelerate its growth strategy with a new investment from Advent International (“Advent”), one of the largest and most experienced global private equity investors. Advent has agreed to co-ownership with Eurazeo, a leading global investment company.

Planet provides integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services to merchants in the Retail, Hospitality, Food & Beverage, Parking and Financial sectors. By partnering with Planet, merchants enhance their customers’ omnichannel experience, while generating additional revenue from value added payments services.

Advent and Eurazeo share a common vision for the business – to accelerate Planet’s existing strategy, deliver new innovations to customers faster, and further develop Planet’s position as a global leader in integrated payments.

Marc Frappier, Eurazeo Managing Partner and Board member, said: “Six years ago, we saw the potential in Planet to become a world-class payments business delivering innovative products and digital services across multiple vertical sectors. Since then, we have been delighted with Planet’s strategic direction and growth trajectory.”

Jeff Paduch, Managing Partner of Advent, said: “In today’s vertical payments landscape, it is rare to find a business with such a unique proposition and diversified product suite. Together with Eurazeo, we are excited to help Planet realise its full potential and accelerate its ambitious growth strategy.”

Patrick Waldron, CEO of Planet, said: “This new investment will accelerate the rate at which we develop and roll-out new innovations. It will ensure we are able to offer our customers and partners a world-leading range of payments solutions in keeping with consumers’ ever changing needs and expectations.”

Advent has an unparalleled track record in accelerating the growth of businesses across the payments and software industries. Worldwide since 2008, Advent has invested ~$4 billion in eight payments companies and has supported over 40 add-on acquisitions made by these companies.

About Planet

Planet is a provider of integrated digital payment services on a unique single platform that offers acquiring, processing, digital wallets, VAT refund and currency conversion services. Planet helps businesses meet the needs of their customers by simplifying complex payments, helping people
spend freely. Planet serves 600,000 Merchants and 100 partner banks across more than 70 markets on five continents. Planet is part of the Eurazeo portfolio of growth companies. Planet acquired 3C Payment in August 2020.

Find out more here: www.PlanetPayment.com

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity investments across 42 countries, and as of December 31, 2020, had €62 billion ($72 billion)in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 private equity investment
professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Eurazeo

Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15.0 billion from third parties, invested in 450 companies. With its considerable private equity, private debt and real assets expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its
companies over the long term.

Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

Contactos para medios

Advent International
Graeme Wilson or Harry Cameron
Advent@tulchangroup.com
+44 (0)20 7353 4200

Planet
Dan Purvis
dan.purvis@planetpayment.com
+44 (0)7823 555921

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S&P Global Sustainable1 and Advent International collaborate to bring transparency to ESG performance across private markets

Advent International (“Advent”) is the first global private equity firm to collaborate with S&P Global Sustainable1, adopting its internationally recognised Corporate Sustainability Assessment (CSA) methodology to drive process and performance improvement at the firm and a group of its portfolio companies
The S&P Global CSA methodology utilises sector specific criteria to benchmark companies’ environmental, social and governance (ESG) practices and performance against industry leaders
Insights from the CSA will enable Advent and its participating portfolio companies to further enhance their ESG programs and measure performance improvements

New York, NY and London, UK 27 May, 2021 – S&P Global Sustainable1 (“Sustainable1”), S&P Global’s single source for comprehensive sustainability intelligence, and Advent International (“Advent”), one of the largest and most experienced global private equity investors, announced today a collaboration to develop sustainability best practices at Advent and participating portfolio companies.

As a responsible investor and business operator, Advent considers environmental, social and governance factors at all stages of its investment and value creation processes. The firm believes that strong ESG management improves portfolio companies’ accountability to their stakeholders, reduces systemic risks and uncovers opportunities created by shifting global conditions and markets.

Building on its history of growing and positioning companies for long-term success, Advent is adopting S&P Global Sustainable1’s internationally recognized Corporate Sustainability Assessment to measure process and performance improvement and integrate sustainability at the firm and a group of its portfolio companies. The CSA is widely recognized as one of the most advanced ESG scoring methodologies and draws upon over 20 years of experience analyzing the impact of sustainability practices on a company’s long-term value creation.

James Brocklebank, Managing Partner of Advent International, commented: ““Advent is proud to be the first private equity firm to work with S&P Global Sustainable1 on promoting key ESG practices in Advent and a group of our portfolio companies. We have always believed that thoughtful ESG management creates stronger and more valuable companies. That’s why our partnership with S&P Global Sustainable1 and our participation in the CSA is so important to us. It will provide us with access to critical ESG metrics that will better inform our strategy and our companies’ operations to enable stronger and more sustainable long-term growth.”

Martina Cheung, Head of S&P Global Sustainable1, added: “While companies are completing the CSA at record rates, Advent is the first private equity firm to engage in the CSA allowing it to assess its own sustainability practices and that of its portfolio companies. We’re excited that Advent has chosen to pioneer these efforts across the private markets with S&P Global Sustainable1.”

Advent’s relationship with Sustainable1 enables its portfolio companies to benchmark against their own industry best practices and understand the roadmap to operational excellence in ESG and improved sustainability performance. The CSA will be used as part of Advent’s approach to determining the maturity of many of its portfolio companies’ ESG programs and set a baseline against which progress can be measured. Advent’s structured approach to value creation includes supporting the development of each portfolio company’s business model-specific ESG programs.

To develop an internationally recognized and finance focused ESG assessment of the company’s exposure to observable ESG risks and its ability to capture ESG related opportunities, S&P Global Sustainable1’s research team will work with management teams of Advent and participating portfolio companies, to analyze both public and private company data.

The insights Advent and its portfolio companies will gain from the CSA platform will inform stronger ESG programs and enable the firm to measure performance improvements over the coming years.

To learn more about Sustainable1 and the CSA, please visit: www.spglobal.com/sustainable1.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 370 private equity transactions across 41 countries, and as of September 30, 2020, had $76 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of 240 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About S&P Global Sustainable1

S&P Global Sustainable1 is the central source for sustainably intelligence from S&P Global. Sustainable1 matches customers with the ESG products, insights and solutions from across S&P Global’s divisions to help meet their unique needs. Our comprehensive coverage across global markets combined with in-depth ESG intelligence provides financial institutions, corporations and governments an unmatched level of clarity and confidence to successfully navigate the transition to a sustainable future. Our data and well-informed point of view on critical topics like energy transition, climate resilience, positive impact and sustainable finance allow us to go deep on the details that define the big picture so customers can make decisions with conviction.

To learn more about Sustainable1, visit: www.spglobal.com/sustainable1

Contactos para medios

Advent International
Graeme Wilson or Harry Cameron
Tulchan
M: +45 40 83 32 30
Email: advent@tulchangroup.com

S&P Global Sustainable1
Farhan Husain
Global Head of Communications
M: +1 347 213 0065
Email: farhan.husain@spglobal.com

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Salt Security Raises $70 million in Series C Funding to Expand Global Operations and Meet Surging Demand for API Security

Total funding of $131 million along with 400% growth in revenue further enhance the lead Salt holds in the API security market

PALO ALTO, Calif. – May 26, 2021 – Salt Security, the leading API security company, today announced it has secured $70 million in Series C funding, led by Advent International, one of the largest and most experienced private equity investors, through Advent Tech, with participation from Alkeon Capital and DFJ Growth. Existing investors Sequoia Capital, Tenaya Capital, S Capital VC, and Y Combinator also participated in the round. Salt will use the funds to expand its global operations across R&D, sales and marketing, and customer success.

To date, Salt Security has raised $131 million, $120 million of it in the last year. In the past 12 months, Salt has driven 400% growth in revenue, 160% growth in employees, and 380% growth in the API traffic it secures. This latest infusion of capital cements the company’s lead in the API security market, with the most funding, the most customers, the fastest growth, the most application environments and ecosystem integrations supported, the most use cases enabled, and the longest time in market to ensure the most advanced ML and AI algorithms for API attack prevention.

As APIs have proliferated as part of digital transformation, cloud migration, and application acceleration initiatives, API security incidents have risen in tandem, as attackers realize APIs are fruitful and lucrative to target. According to the most recent Salt Security State of API Security Report, in 2020, Salt customers’ average monthly call volume increased 51% while malicious API traffic grew 211%. According to Gartner, Inc., “By 2022, API abuses will move from an infrequent to the most-frequent attack vector, resulting in data breaches for enterprise web applications.”¹

“APIs are at the heart of all our application innovation today,” said Mike Towers, CISO, Takeda Pharmaceuticals. “As attackers have turned their focus on APIs, we must ensure the data and services our APIs connect remain protected. In evaluating multiple solutions, we quickly saw the technical advantages of the Salt platform, and we also appreciate how Salt has partnered with us throughout this journey.”

Salt Security offers a unique approach to API security with its flagship solution, the Salt Security API Protection Platform. The big data engine and AI and ML at the heart of the Salt C-3A Context-based API Analysis Architecture automates the continuous discovery of APIs and exposed sensitive data, stops API attackers during their reconnaissance activities, and delivers remediation insights. Needing no agents, software changes, or inline code, the patented Salt platform deploys quickly, with no impact on application performance.

“The rapid proliferation of APIs has dramatically altered the attack surface of applications, creating a major challenge for large enterprises since existing security mechanisms cannot protect against this new threat,” said Bryan Taylor, managing partner and head of Advent’s technology team in Palo Alto. “We continue to see API security incidents make the news headlines and cause significant reputational risk for companies. As we investigated the API security market, Salt stood out for its multi-year technical lead, significant customer traction and references, and talented team. We look forward to drawing on our deep experience in this sector to partner with Salt in this exciting new chapter.”

Salt Security continues to grow its sales capacity and increase investments in its channel operations. Anton Granic has joined the company as Vice President of Worldwide Sales. Granic, who came to Salt from Nutanix, is focused on global expansion and partner enablement as Salt Security enters its next phase of growth.

“Several recent high-profile API security incidents have forced organizations to recognize that their existing protections cannot prevent API attacks or handle the scale and complexity of today’s API-driven applications,” said Roey Eliyahu, CEO and co-founder of Salt Security. “This new round of funding will help us increase our rate of innovation and businesses in more regions securely adopt APIs to foster their own innovation.”

Fortune 500 and market disruptors across FinServ, FinTech, Retail, and SaaS industries – including Equinix, Finastra, TripActions, Armis, and DeinDeal – trust Salt Security for its ability to protect the vital API-driven services and applications fueling business innovation today. To learn more about Salt Security or to request a demo, please visit https://content.salt.security/demo.html.

Supporting Quotes
“Unlike legacy approaches to API security, the Salt Security platform is built on a modern, agentless, and AI-first architecture. It can deploy in any application environment and is up and running in customer environments in minutes,” said Abhi Arun, managing partner, Alkeon Capital. “The company earned its lead in API security by honing its capabilities and AI/ML models over time and across multiple customer environments, offering a significant advantage over newer entrants. We’re thrilled to be part of the company’s next stage of growth and look forward to helping enable the company’s continued innovation and leadership.”

“Our investment in Salt Security, a company setting the standard for API security, will help further address the very pressing issue of API attacks and vulnerabilities that are vexing companies in all industries,” said Sam Fort, partner at DFJ Growth. “The high-profile security incidents we’ve seen as a result of leaky APIs, in combination with the attacks carried out against API-dependent enterprises, indicate that companies face two major problems. First, APIs can be easily exposed through any number of API design or code flaws, and second, attackers have opportunistically set their sights on API-rich environments. Salt Security addresses both of these areas to fully harden API security postures.”

About Salt Security

Salt Security protects the APIs that form the core of every modern application. Its API Protection Platform is the industry’s first patented solution to prevent the next generation of API attacks, using machine learning and AI to automatically and continuously identify and protect APIs. Deployed in minutes, the Salt Security platform learns the granular behavior of a company’s APIs and requires no configuration or customization to pinpoint and block API attackers. Salt Security was founded in 2016 by alumni of the Israeli Defense Forces (IDF) and serial entrepreneur executives in the cybersecurity field and is based in Silicon Valley and Israel.

For more information, please visit: https://salt.security

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity investments across 42 countries, and as of December 31, 2020, had $76 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 private equity professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Alkeon Capital

Alkeon Capital is a global multi-billion dollar investment firm that invests in private and public growth and technology companies and category definers. With more than two decades of experience focusing on People and Innovation, Alkeon works closely with disruptive private companies to help them expand their addressable market, scale efficiently and seamlessly crossover to the public markets. Alkeon’s goal is to be a long-term and accretive partner to all its portfolio companies along their private and public journey.

About DFJ Growth

DFJ Growth is a venture capital firm that partners with extraordinary entrepreneurs that set out to change the world. Our investments include Anaplan (NYSE: PLAN), Box (NYSE: BOX), Cohesity, Coinbase (NASDAQ: COIN), Patreon, Ring (Amazon), SpaceX, Stripe, Sumo Logic (NASDAQ: SUMO), Tesla (NASDAQ: TSLA), Twitter (NYSE:TWTR), and Unity (NYSE: U). The firm works with companies at the growth stage, with the goal of creating iconic and lasting businesses in consumer, enterprise, and disruptive technologies.

Learn more at www.dfjgrowth.com

¹ Gartner, API Security: What You Need to Do to Protect Your APIs, by Mark O’Neill, Dionisio Zumerle, Jeremy D’Hoinne, 1 March 2021.

Contactos para medios

Salt Security
Dex Polizzi
Lumina Communications
646-741-8358
Salt@luminapr.com

Advent International
Anna Epstein or Amanda Muccio
Finsbury Glovery Hering
646-805-2000
Adventinternational-us@finsbury.com

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Culligan International Announces Acquisition by BDT Capital Partners from Advent International and Centerbridge Partners

New investment will accelerate company’s growth as the global leader in the consumer water services market
Transaction includes reinvestment from Advent International as a minority shareholder in the business

(ROSEMONT, IL, CHICAGO, IL, BOSTON, MA and NEW YORK, NY) – Culligan International (“Culligan”), the innovative brand in consumer-focused and sustainable water solutions and services, today announced that BDT Capital Partners, LLC (“BDT”), a merchant bank that provides closely held businesses with long-term, differentiated capital, has entered into an agreement to acquire the company through its affiliated funds. BDT will acquire Culligan alongside several strategic family business owners and investors within the firm’s global network from private equity investors Advent International (“Advent”) and Centerbridge Partners, L.P. (“Centerbridge”). As part of this agreement, Advent will also reinvest to acquire a minority stake in the business. Financial terms of the agreement were not disclosed.

Culligan is the leading global consumer water services provider with a mission to bring clean, safe, soft and great-tasting water to improve consumers’ health and wellness and reduce single-use plastics. The company has set the highest standard in the industry for premium drinking water and softening solutions and is a trusted partner to consumers around the world at home, at work and on-the-go. Founded outside of Chicago in 1936 by Emmett Culligan, Culligan has a rich legacy of providing consumers innovative solutions and world-class service in partnership with the leading Culligan water dealers in North America as well as through direct service and dealers internationally.

With the support of Advent and Centerbridge, the company has continued to build on its legacy through strategic investments in areas such as new product innovation, digital tools and geographic expansion across Europe, Asia and Latin America. Through its investments, Culligan has completed many acquisitions, becoming the premier platform in the fast-growing $35 billion global consumer water services market.

With its strong track record in consumer and service businesses, and a focus on long-term, global relationships, BDT is an excellent partner for Culligan as it enters its next phase of growth. BDT’s partnership will enable the company to accelerate its consumer strategy, extend its international footprint and continue investing in innovative products and digital growth initiatives.

“For more than eight decades, we’ve served as a leading provider of water treatment solutions and service – driving innovation, a better consumer experience and sustainability – while moving the market forward and transforming ourselves,” said Scott Clawson, CEO of Culligan International. “We have the leading dealer network as well as direct service operations that touch consumers around the world. We’re grateful for the support of Advent and Centerbridge, and are excited to work with our new partners at BDT as we continue to execute on our growth plan and expand our leadership position in the consumer water market. I’m confident that the best is yet to come for Culligan and our valued customers, franchise dealers, employees and partners.”

“Culligan is the innovative pioneer in clean and safe water solutions that has grown to become one of the world’s most trusted brands, led by Scott Clawson and a highly-experienced management team who share our commitment to providing families and communities with healthier water while reducing plastics consumption,” said Scott Hasley, Managing Director of BDT Capital Partners. “We look forward to our long-term partnership with Scott and his team, consistent with our business model of providing patient capital to closely held businesses, while leveraging our global network of business owners and investors to support the company’s continued growth and expansion.”

“We are proud of what we have accomplished in partnership with the exceptional management team at Culligan,” said David McKenna, a Managing Partner at Advent. “With Advent’s global team supporting the growth of the business around the world, Culligan has realized our shared vision – establishing itself as a best-in-class brand, invigorating its customer engagement and creating a global leader at the forefront of health and sustainability. Our collaboration with Culligan exemplifies Advent’s value creation philosophy of working with management teams to build highly differentiated and scalable platforms that can drive long-term growth. We’re thrilled to build on this partnership alongside BDT and look forward to Culligan’s continued success.”

“Scott and his team have built Culligan into a unique consumer water services platform with best-in-class growth characteristics and exceptional business quality,” added Steven Silver, Senior Managing Director and Co-Head of Private Equity at Centerbridge. “We are delighted to have been partners with Culligan for nearly a decade, and we wish the company the best in the next phase of its growth.”

Morgan Stanley & Co. LLC is serving as lead financial advisor to Culligan. Citibank is also serving as a financial advisor. Weil, Gotshal & Manges LLP is serving as legal counsel to Advent and Centerbridge. Davis Polk & Wardwell LLP is serving as lead transaction counsel to BDT.

About Culligan International

Founded by Emmett Culligan in 1936, Culligan is a world leader in delivering superior water solutions that will make a real difference in improving the health and wellness of consumers. The company offers some of the most technologically advanced, state-of-the-art water filtration and treatment services and solutions. These products include water softeners, drinking water systems, whole-house systems and solutions for businesses. Culligan’s network of franchise dealers in North America, direct operations and other dealers is the largest in the world, with over 7,500 employees and 1,000 dealers in 90 countries. Many Culligan dealers have valuable equity in their local communities as multigenerational family owners of their franchises.

For more information, visit www.corporate.culligan.com

About BDT Capital Partners

BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm has raised over $18 billion across its investment funds and has placed more than $7 billion of co-investments with its global limited partner investor base. The firm’s affiliate, BDT & Company, is a merchant bank that works with family and founder-led businesses to pursue their strategic and financial objectives. BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 companies in 42 countries, and as of December 31, 2020, had $76 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit www.adventinternational.com or www.linkedin.com/company/advent-international

About Centerbridge

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines—from private equity to private credit and related strategies, and real estate—in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and as of March 31, 2021 has over $30 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies.

For more information, please visit www.centerbridge.com

Contactos para medios

Culligan
Andy Kellogg
Tel: +1 847 430 1360
Andy.kellogg@culligan.com

BDT Capital Partners
Amy Lester
+1 312 639 1968
alester@bdtcap.com

Advent International
Anna Epstein or Amanda Muccio
Finsbury
Tel: +1 646 805 2000
Adventinternational-US@finsbury.com

Centerbridge
Jeremy Fielding / Anntal Silver
Kekst CNC
Tel: +1 212 521 4800
Jeremy.fielding@kekstcnc.com / Anntal.silver@kekstcnc.com

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Advent International enters into exclusive negotiation for the sale of its stake in Circet alongside Circet’s management

Circet growth strategy accelerated in the last few years:

Revenue and employees tripled between 2017 and 2021
Strong international expansion through entry into seven new countries
Dynamic external growth with 10 acquisitions since 2018

Paris and London, May 21, 2021 – Advent International (“Advent”), a leading global private equity firm, today announced that it has entered into exclusive negotiation with ICG for the sale of its stake in Circet, Europe’s leading telecoms infrastructure services company. On this occasion Circet’s founding team and managers will further increase their stakes in their company.

Circet provides its customers with turnkey solutions and tailored services across both fixed and mobile telecoms networks. Circet’s customers include major telecom operators and equipment manufacturers, local authorities, as well as public and private organisations operating their own infrastructure networks. Circet’s long-term growth potential is supported by the ever increasing consumption of data across Europe, the large-scale deployment of high-speed connections in fiber optic and mobile networks (4G and 5G), and additionally the recurring investments in fixed and mobile infrastructures.

Since Advent joined forces with Circet’s founding team and managers in early 2018, the company has grown significantly with revenues increasing threefold from €775 million in 2017 to €2.2 billion in 2021, and employee numbers growing from 3,000 to over 10,600 during the same period.

With the support of Advent, Circet has pursued an ambitious growth strategy both in France and internationally. Circet has entered seven new countries during the last three years: Germany, Spain, the Netherlands, Belgium, Great Britain, Ireland and Morocco. This expansion has been supported by an organic and acquisitive growth strategy, with Circet successfully acquiring 10 companies with leading positions in their respective markets since 2018.

Michael Ogrinz, Partner and Head of France at Advent, comments: “We are proud to have helped Circet develop into not only a French champion but also the undisputed leader in telecom infrastructure services in Europe. This journey is emblematic of Advent’s DNA: supporting visionary management teams, which have strong ambitions to grow and transform their sectors.”

Hadrien de Bardies, Director at Advent International, adds: “These past years spent with the Circet team are an excellent example of a successful partnership between managers and active investors, each bringing their strengths and skills to a joint growth project.”

Philippe Lamazou, Founder and President of Circet, said: “With the support of Advent, we have reached a major milestone in our development by becoming the European leader in our sector. Circet is a collective success of all its employees, who work hard every day to satisfy all our customers’ needs. I look forward to starting a new phase of our development with ICG.”

About Circet

Circet is the leading network service provider in Europe. The company operates in the growing segment of investments geared towards fixed and mobile super-fast broadband. Present in Europe and North Africa, Circet’s customer base include the leading telecom service providers and telecom manufacturers, local authorities and companies specializing in rural deployment to bridge the digital divide, and key government-owned and private companies that own infrastructure. In 2020, the company was present in 12 countries, generated total revenue of €2.03 billion, and employed over 10,000 people.

About Advent International

Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity transactions in 42 countries, and as of December 31, 2020, had €62 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. Advent has a long history of growth investments dating back to its founding in 1984, and in 2019 launched Advent Tech, a dedicated technology-focused fund focused on growth investments and buyouts of leading technology companies globally. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. In France, Advent is currently invested in Shift Technologies, Zentiva, Idemia, Rubix and Circet.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

Contactos para medios

France
Taddeo
Antoine Denry
M +33 (0)6 18 07 83 27
Antoine.denry@taddeo.fr

Louis Branger
M +33 (0)6 76 23 52 85
Louis.branger@taddeo.fr

United Kingdom
Tulchan
Graeme Wilson or Harry Cameron
Tel: +44 (0)20 7353 4200
Advent@tulchangroup.com

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Advent International to acquire Perrigo’s pharmaceutical operations in Mexico and the rest of Latin America

Investment will strengthen Advent’s strategic focus on the healthcare sector in Mexico and Latin America more broadly.

MEXICO CITY, May 18, 2021 – Advent International, one of the world’s largest and most experienced private equity investors, today announced that it has agreed to acquire the Latin American operations of Perrigo Company, comprising Perrigo Mexico and Perrigo Brazil. With this new transaction, Advent builds on its previous investments in the pharmaceutical sector in Latin America and continues its regional strategy in the industry. The transaction is in the process of being analyzed by the Federal Commission of Economic Competition (COFECE) and is expected to close in the second half of the year.

Perrigo Company plc (NYSE; TASE PRGO) is listed on the New York Stock Exchange and is a leading global provider of over-the-counter (OTC) self-care products. The companies that make up Perrigo Mexico have been operating for 80 years and uphold the highest standards of quality and product safety. They specialize in the manufacture and marketing of generic pharmaceuticals and development of private label products.

Advent International has invested US$6.8 billion in 65 companies across Latin America, including several businesses dedicated to the development and distribution of pharmaceutical products, giving the firm extensive experience in the healthcare sector. Its investments in the sector regionally have included Grupo Farmacéutico Somar, a generic and branded generic drug manufacturer in Mexico; Grupo Biotoscana, Laboratorios LKM, and Fada Pharma.

“This acquisition reinforces Advent’s vision of the importance of the Latin American healthcare industry and specifically underscores our commitment to Mexico and the health and needs of its citizens,” said Enrique Pani, Managing Director of Advent International in Mexico.

“With this investment, we will significantly increase our presence in the generics and branded generics segments, while expanding our technological capabilities,” said Ariel Blumenkranc, Director of Advent International in Mexico. “We believe that these segments continue to have enormous growth potential.”

Following the completion of the transaction, Grupo Farmacéutico Somar and Perrigo Latin America will have combined revenue of over Mx$3,500 million and a portfolio of more than 210 commercialized products in the pain management, respiratory and dermatology therapeutic areas, among others.

Advent International has been present in Mexico since 1996 and has been committed to the economic development of the country and the region for 25 years. During this time, it has invested approximately US$1.5 billion in more than 20 companies with headquarters or operations in Mexico and has helped these businesses accelerate their growth by applying its deep sector expertise, international network and world-class operating resources.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 companies in 42 countries, and as of December 31, 2020, had $76 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services, healthcare, industrial, retail, consumer and leisure, and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit: www.adventinternational.com or www.linkedin.com/company/advent-international.

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Shift Technology Secures $220 Million in a Series D Investment Round Led by Advent International

PARIS and BOSTON – May 06, 2021 – Shift Technology, a SaaS provider of artificial intelligence (AI)-driven decision automation and optimization solutions for the global insurance industry, today announced the company closed a Series D investment round of $220 million. The round was led by Advent International, through Advent Tech, with participation from Avenir and others. Previous Series C participants Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also joined the round. The latest funding round brings total investment in Shift to $320 million and a market valuation of more than $1 billion. The investment will fuel the company’s execution of its vision to revolutionize the policyholder experience through wide-ranging products that apply AI and advanced data science to key insurance processes.

“Since its founding in 2014, Shift has made a name for itself in the complex world of insurance,” said Thomas Weisman, a Director on Advent’s technology investment team in London. “Shift’s advanced suite of SaaS products is helping insurers to reshape manual and often time-consuming claims processes in a safer and more automated way. We are proud to be part of this exciting company’s next wave of growth.”

Initially known for its award-winning fraud detection and claims automation software, in January 2021 the company introduced the Shift Insurance Suite to enable insurers to apply AI-based decision automation and optimization technology to an even wider array of critical processes across the policy lifecycle, including underwriting, subrogation, and compliance. The company now serves more than 100 customers in 25 different countries and has analyzed nearly two billion claims to date.

With this latest round of funding Shift will advance in its mission to drive digital transformation in the global insurance industry. By supplying the tools and technology required for insurers and their employees to make the best decisions possible, Shift is enabling carriers to deliver exceptional business and policyholder outcomes. Shift will use this investment to expand its presence in key geographies including the U.S., Europe, and Asia. In the U.S., the company will look to further penetrate the property and casualty (P&C) insurance market as well as expand into the health insurance sector, an area in which Shift sees a large opportunity. The funding will also be used to drive R&D efforts in the creation of new solutions to address emerging decision automation and optimization requirements for forward-thinking insurers.

“The entire Shift team has worked tirelessly to build this company and provide insurers with the technology solutions they need to empower employees to best be there for their policyholders. We are thrilled to partner with Advent International, given their considerable sector expertise and global reach and are taking another giant step forward with this latest investment,” stated Jeremy Jawish, CEO and co-founder, Shift Technology. “We have only just scratched the surface of what is possible when AI-based decision automation and optimization is applied to the critical processes that drive the insurance policy lifecycle.”

This investment marks Advent technology team’s sixth investment this year. As part of Advent’s long history of technology investing, the firm has significant investment experience in vertical software, data and analytics. Advent’s previous technology investments in the insurance vertical include CCC, a leading SaaS platform for the P&C insurance economy and Transunion, a leading global provider of credit information and risk management solutions to businesses and individual consumers.

About Shift Technology

hift Technology delivers the only AI-native decision automation and optimization solutions built specifically for the global insurance industry. Addressing several critical processes across the insurance policy lifecycle, the Shift Insurance Suite helps insurers achieve faster, more accurate claims and policy resolutions. Shift has analyzed billions of insurance transactions to date and was presented Frost & Sullivan’s 2020 Global Claims Solutions for Insurance Market Leadership Award.

For more information, please visit:

www.shift-technology.com

About Advent International

Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity transactions in 42 countries, and as of December 31, 2020, had $76 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 240 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. Advent has a long history of growth investments dating back to its founding in 1984, and in 2019 launched Advent Tech, a dedicated technology-focused fund focused on growth investments and buyouts of leading technology companies globally. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international