JULY 2013
Transactions
115
CREAndUM CLoSES FUnd III on €135M
Creandum, the leading technology venture capital fund in the nordics, recently announced the closing of Creandum's third fund at €135M. the fund will be used to invest in 25-30 early stage companies in a mix between seed and A-rounds.
The fund was raised with strong support from existing and new investors from the Nordics, rest of Europe and the US. The number of Limited Partners doubled versus the previous €80M Creandum fund raised in 2007.
"We believe this is a great time to back the best European entrepreneurs. Europe and the Nordic region in particular have produced a large number of exceptionally successful companies the last 10 years. We look forward to backing the next wave." says Staffan Helgesson, Creandum General Partner.
"We are proud and grateful for this firm support from existing and new investors. This larger fund allows us to increase our activity level further and can hopefully support building the entrepreneurial ecosystem even stronger." says Fredrik Cassel, Creandum General Partner.
Some of Creandum's early investments in the new fund include 13th Lab (S), Vivino (DK), Xeneta (N), JustBook (D) and Non Stop Games (Fi). Advisors on Creandum III include Asante Capital Group and Andulf.
Asante Capital Group acted as exclusive global placement agent, and co-founders Fraser van Rensburg and Warren Hibbert led the fundraising. LM
HI-CRUSH PARtnERS LP CoMPLEtES ACQUISItIon oF d&I SILICA, LLC
Hi-Crush Partners LP recently announced the successful completion of its acquisition of D&I Silica, LLC (D&I). Hi-Crush agreed to acquire D&I on May 14, 2013 for $95 million in cash and 1.579 million units priced at $19 for total consideration of approximately $125 million.
Bob Rasmus, Co-Chief Executive Officer of Hi-Crush, said: "We are excited to have closed the transaction and welcome our talented new team members from D&I to Hi-Crush. We are now in a position to execute our integration plan and look forward to working with our new colleagues. This important acquisition reinforces and accelerates our goal of maximizing opportunities for our unit holders through long-term revenue, distribution and market share growth."
Following the completion of its financial planning process, which will take into account the growth of the combined business, Hi-Crush plans to provide investors with further forward estimates as part of its fiscal third quarter earnings release. As a result of the closing, Hi-Crush results for the second quarter of 2013 will reflect the contribution from D&I through two reporting segments.
Jim Whipkey, Co-Chief Executive Officer of Hi-Crush, said: "Today's acquisition of D&I strengthens our logistics capabilities and allows us to deliver greater value to our customers and sustainable growth to our unit holders. With the acquisition now complete, we have extended our geographic footprint and asset base and now own and operate the largest distribution network in the Marcellus and Utica shales." Matthew S. Rovelli from Cowen and Company, LLC acted as lead banker for this deal. LM
Contact details: Matthew S. Rovelli Managing Director | Head of Energy Investment Banking Cowen and Company, LLC 599 Lexington Avenue, 27th Fl., New York, NY 10022
matthew.rovelli@
cowen.com | O: (646) 562-1120 | M: (917) 846-1409
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Creandum
D&I Silica
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