Tikehau Capital : announces a $30m investment in Probe Test Solutions Limited to support its growth and expansion

Tikehau Capital announces a $30m investment in Probe Test Solutions Limited

to support its growth and expansion

London, 28 September 2022 - Tikehau Capital, the global alternative asset manager, announces that it has acquired a minority stake in Probe Test Solution Limited (PTSL), a leading semiconductor probe card manufacturer. This $30m investment, is made via its pan-European growth impact private equity strategy* and will support the company in its next phase of growth and development.

Probe Test Solutions Limited designs and manufactures probe cards. Founded in 2009 and headquartered in Glasgow, Scotland, it has a presence in Europe, the US and Asia. PTSL is one of the fastest growing Automated Test Equipment (ATE) suppliers in the industry with an innovative product offering, experienced technical team, and a diverse customer base across the globe.

Tikehau Capital's investment is made via its pan-European growth impact private equity strategy. The strategy's investment philosophy is focused on providing partnership capital to high growth, purpose- led companies that are critical to the resilience of the European economy.

Through this partnership, Tikehau Capital will provide PTSL with the operational and strategic support needed to accelerate further international expansion, and to consolidate its market-leading position.

PTSL's founder and CEO, Jordan Mackellar who will retain a majority stake in the business, and its management team, are committed to accelerating the company's engaged transition to sustainability. Tikehau Capital will leverage its in house Climate Action Centre and impact investment expertise to define a bespoke impact roadmap that will establish the company's position as an impact-led player.

"We are delighted to partner with PTSL as it embarks on its next chapter of growth. The company's differentiated business model has enabled it to carve out a solid position in a rapidly growing market. We look forward to working with Jordan and the wider PTSL team, leveraging our expertise and presence in key global markets to accelerate its international expansion and to help them execute their transition to being an industry benchmark on sustainability." declared Corinne Philipps, Head of UK Private Equity activity for Tikehau Capital.

"We are extremely excited with the investment from Tikehau Capital, an endorsement of the PTSL team's exceptional performance in recent years and in our future growth strategy. This is the first investment in PTSL since inception, and I'm very happy to be partnering with the Tikehau team as we embark on the next phase of PTSL's growth story," said Jordan Mackellar CEO PTSL. He adds: "This partnership coupled with the financial investment, allows us to accelerate our technology innovation and strengthens our ability to make significant Capex investments while also considering acquisitions within the semiconductor industry. Our intention is for PTSL to play a leading role in setting the tone on sustainability, redefining ESG best practices within the semiconductor probe card space,".

About Tikehau Capital

Tikehau Capital is a global alternative asset management group with €36.8 billion of assets under management (at 30 June 2022).

Tikehau Capital has developed a wide range of expertise across four asset classes (private debt, real assets, private equity and capital markets strategies) as well as multi-asset and special opportunities strategies. Tikehau Capital is a founder led team with a differentiated business model, a strong balance sheet, proprietary global deal flow and a track record of backing high quality companies and executives. Deeply rooted in the real economy, Tikehau Capital provides bespoke and innovative alternative financing solutions to companies it invests in and seeks to create long-term value for its investors, while generating positive impacts on society. Leveraging its strong equity base (€3.1 billion of shareholders' equity at 30 June 2022), the firm invests its own capital alongside its investor-clients within each of its strategies. Controlled by its managers alongside leading institutional partners, Tikehau Capital is guided by a strong entrepreneurial spirit and DNA, shared by its 725 employees (at 30 June 2022) across its 13 offices in Europe, Asia and North America. Tikehau Capital is listed in compartment A of the regulated Euronext Paris market (ISIN code: FR0013230612; Ticker: TKO.FP).

For more information, please visit: www.tikehaucapital.com.

Disclaimer

*The strategy is reserved for professional investors and is managed by TIKEHAU INVESTMENT MANAGEMENT SAS, a portfolio management company approved by the AMF since 19/01/2007 under number GP0700000006. This document does not constitute an offer of securities for sale or investment advisory services. It contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future earnings and profit, and targets are not guaranteed. Certain statements and forecasted data are based on current forecasts, prevailing market and economic conditions, estimates, projections and opinions of Tikehau Capital and/or its affiliates. Due to various risks and uncertainties. actual results may differ materially from those reflected or expected in such forward-looking statements or in any of the case studies or forecasts. All references to Tikehau Capital's advisory activities in the US or with respect to US persons relate to Tikehau Capital North America.

Press contactsTikehau Capital

Valérie Sueur - [phone]

UK - Prosek Partners: Alexa Bethell - [phone] [e-mail]

PTSL

Mark Tyndall [phone]

Shareholder and investor contact:Louis Igonet - [phone] Théodora Xu - [phone] [e-mail]