LONDON, UK: On 31 August 2021, the Apax X Fund, in which AGA is a limited partner, announced that it had signed a definitive agreement to acquire a majority ownership stake in SavATree, a leading, professional tree, shrub and lawn care provider.

The transaction is expected to close in Q4 2021, subject to customary closing conditions.

On a look through basis, AGA is expected to invest approximately €23m in the company, depending on final closing arrangements. Note that this figure relates to AGA’s look through position of Apax X’s overall investment in SavATree and is stated before taking into account any closing adjustments and translated based on the latest exchange rates available where applicable.

SavATree was founded in 1978 and is headquartered in Bedford Hills, New York. SavATree is committed to an environmentally sensible approach to tree, shrub and lawn care services and has been caring for residential, commercial and government properties for over 40 years. The company services customers in 27 states through 58 locations.

Apax X, in partnership with SavATree’s leadership team, will strive to accelerate the company’s already impressive growth trajectory both organically and through strategic M&A, while continuing to deliver the highest level of customer care and service.

AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax, as well as a focused portfolio of debt and equity investments (“Derived Investments”). In July 2019, AGA made a commitment of c.$450m to Apax X.

Apax Partners LLP is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. www.apax.com