Quest for Growth NV — M&A Activity 2022

Feb 15, 2022

Inside information. Regulated information. This press release contains information subject to the transparency requirements imposed on listed companies.

Quest for Growth NV, Privak/pricaf, public alternative investment fund (AIF) with fixed capital under Belgian law.

Acquisition of c-LEcta

Kerry Group plc ("Kerry"), the global taste and nutrition company, today announces it has reached agreement to acquire c. 92% of the issued share capital of c-LEcta GmbH ("c-LEcta") for a consideration of € 137m, with management to retain the balance.

c-LEcta is a leading biotechnology company located in Leipzig, Germany. The company has established itself as a leading player in the realisation of high-value biotechnology products for regulated markets, either as in-house development or in close cooperation with the industry. c-LEcta innovation capability delivers cost-efficient and sustainable production processes, creating growth opportunities across existing and new markets.

Capricorn Sustainable Chemistry Fund and Quest for Growth, both managed by Capricorn Partners, invested in the company in 2018. Ludwig Goris, Investment Director at Capricorn Partners and representing both funds in the board of directors of c-LEcta comments: "This successful exit confirms and supports our ambitious investment strategy to focus on unique companies with a technology platforms that are unparalleled in its sort. We are extremely pleased to have worked with dr. Marc Struhalla and his excellent management team. They accomplished a stellar growth trajectory in all aspects in just four years' time."

The agreement to acquire c-LEcta has a positive impact on the net asset value of Quest for Growth of approximately € 5.6 million or € 0.34 per share, which will be included in the net asset value calculation of the end of February, to be published on 3 March 2022. This impact is a combination of the increase in value of the direct investment and the investment through Capricorn Sustainable Chemistry Fund.

About Quest for Growth

Quest for Growth is a privak/pricaf, a public alternative investment fund (AIF) with fixed capital under Belgian law, managed by Capricorn Partners NV. The diversified portfolio of Quest for Growth is mostly invested in growth companies listed on European stock exchanges, in venture & growth capital and in venture & growth funds. Quest for Growth focuses on innovative companies in areas such as digital, health and clean technologies. We have been listed on Euronext Brussels since 23 September 1998.

For more information

Yves Vaneerdewegh, Member of the Executive committee of Capricorn Partners NV tel +32 16 28 41 00 quest@questforgrowth.com