STERLING SUCCESSFULLY EXITS ADAPTEO OYJ

Luxembourg, 25 August 2021: Sterling Active Fund (“SAF”) confirms that on the 25th of August 2021 it successfully exited its investment in Adapteo Oyj (“Adapteo”), making it the second investment SAF has exited since its launch in late 2020.

Sterling originally invested in Adapteo’s parent company, Cramo, with the investment thesis that the modular space business with its long-term contracts and growth opportunities deserved a premium valuation that was not being reflected in the share price. A spin-off was successfully executed in June 2019 and SAF’s predecessor fund, Sterling Strategic Value I (“SSV”) received shares in Adapteo.

Following the spin-off SAF increased its stake in Adapteo and worked closely with management, the board of directors and the other shareholders of the Company, specifically EQT Public Value and Nordea, for circa 2.5 years, to ensure a successful development and business growth. Sterling had representation at the Company’s Nomination Committee to the Board via its Vice Chair, Ms Giulia Nobili.

On 17th May 2021, West Street Global Infrastructure Partners IV – a fund managed by Goldman Sachs Asset Management – made a tender offer to purchase the Company at a ~50% premium to the previous day’s closing price.

The tender offer by West Street Global Infrastructure Partners IV was accepted by the majority of the shareholders of Adapteo on the 17th of August and SAF successfully exited its entire holding in the investment.

*****

Adapteo Oyj, is a company incorporated in Finland and listed on the Swedish stock exchange, is the leading provider of adaptable modular buildings in the Nordic countries with smaller operations in the Netherlands and Germany. Adapteo’s fleet of modules can be used for schools, day-care, and offices. The buildings are rented out on long-term contracts mostly to customers in the public sector.

West Street Global Infrastructure Partners IV, an infrastructure opportunistic fund managed by The Goldman Sachs Group. The fund is headquartered in New York and invests globally in the infrastructure sector.

Sterling Active Fund, is the second fund launched by Sterling Strategic Value in October 2020.  SAF is open for subscriptions.

Sterling Strategic Value, is one of Europe’s oldest Activist investors founded in 1999 and with a track record of over 50 successful activist investment entry and exits.

DISCLAIMER

ACCESS TO THE SITE

By accessing the site of the Sterling Strategic Value Fund S.A. (hereinafter the « Site ») and its contents, you acknowledge that you have understood and accepted the following conditions of use.

LOCAL RESTRICTIONS AND SPECIFIC INFORMATION

Access to the Site is not allowed to persons coming under a jurisdiction in which its publication or availability would constitute a violation of the existing laws or regulations. These restrictions may arise by reason of the User’s domicile, place of residence, nationality or another factor. Some restrictions of this type are particularly applicable to U.S. citizens and residents. It is recommended to the potential Users or Readers of this disclaimer to seek appropriate professional legal advice to ensure compliance with the laws and regulations applicable to the sale, purchase, subscription, redemption or transfer of investments in their country of origin, residence or domicile.

NOT AN OFFER TO PURCHASE

We expressly warn potential purchasers that the descriptions of investment products on this site are provided for informational purposes only. The information and opinions expressed on this site should not be construed as a solicitation, recommendation or offer to buy or sell any investment instrument in any jurisdiction in which such a solicitation, recommendation or offer is prohibited.

INVESTMENT RISK

The value of the sub-fund and its performance may fall as well rise. Therefore, the investor may not be able to recover the invested amounts. Past performance is no indication or guarantee of future results. It should be noted that investments in foreign currencies are also subject to currency fluctuations. Finally, the performance data does not include potential commissions and costs incurred by subscriptions and shares redemptions of the sub-fund.

EXCLUSION FROM GUARANTEE

Although the Site is regularly updated to ensure that the content released comes from the best available sources, Sterling Strategic Value Fund S.A. does not guarantee the accuracy, reliability, timeliness or completeness, either explicitly or implicitly of the content displayed. In no event, Sterling Strategic Value Fund S.A will be liable for any loss or damage sustained or arising out of or in connection with the use of information on this site. Only the latest versions of the Offering Document as well as annual reports on the sub-fund can be considered as an official sub-fund publication on the basis of which investment decisions are taken.

TAXATION

Tax treatment depends on the personal situation of each investor and can be subject to changes. Before taking any investment decision, investors are recommended to resort to the specific advice of a tax professional.

USE OF LINKS

This Site may contain hyperlinks to other sites. Navigation to such links is undertaken at your own risk. Sterling Strategic Value Fund S.A. refuses to accept any liability regarding the content and any potential damage caused during visits to sites to which this Site leads through hyperlinks. Users visit the other sites under their own responsibility and at their own risk.

CONFIDENTIALITY

All personal information provided via this Site (in particular the e-mail address), in accordance with the applicable laws and regulations will be considered as confidential. Nevertheless, Sterling Strategic Value Fund S.A. reserves the right to use personal information obtained which concerns Users, in addition to technical and navigation information, such as browser type, Internet protocol address, pages visited and average time spent on this Internet site. Despite all the precautions in place, Users of this Site expressly agree that the Internet network does not constitute a secure means of communication of information and that they use the internet at their sole risk. No liability of whatever nature can be attributed to Sterling Strategic Value Fund S.A. or any of its entities, directors, officers or employees, third party information providers, their officers, directors, employees, for any loss or damage arising from the use or reliance of information presented on this site or a decision taken on the basis thereof, including any loss of profit or any other direct or indirect damage.

 

.

.