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February 27, 2018
London, 27 February 2018 – KKR, a leading global investment firm, announces the signing of an agreement to partner Qui! Group, a leading Italian company in the field of welfare services, electronic payments, and card loyalty programs, founded by the Gregorio Fogliani family. KKR will provide new capital to support the company's growth and internationalization strategy.
The Fogliani family is partnering with KKR to further grow Qui! Group in the welfare market and become a leading player in the fintech sector and electronic welfare services, supporting its international expansion objectives. KKR has an extensive track record of partnering with entrepreneurs and family owned companies in Europe to turn leading local businesses into global champions, with significant expertise in the technology sector including investments in Scout24, WebHelp, SoftwareONE, and Trainline.
As a fast-growing company in the fintech sector, Qui! Group specializes in making and managing sophisticated technological platforms in vouchers, payments and loyalty programmes in Italy and Brazil, and has a clear strategy for further developing in international markets. In Italy, Qui! Group currently has over 20 million users and manages a yearly average of 105 million of electronic transactions. The company recently invested over 20 million euros in its technological platform and innovation.
"The partnership signed today with KKR will boost the company's international growth", said Gregorio Fogliani, the founder and owner of Qui! Group, adding "In the last years, we have taken important steps to bolster our presence in Italy and abroad. The partnership with KKR represents a great opportunity for our Group, allowing us to develop innovative solutions in the fintech sector, in particular around electronic payments. The agreement with KKR clearly shows the partners' commitment to continue growing together through investments and new technologies in order to take on the challenges and opportunities of the global market."
Matteo Bozzo, Director of KKR, said "Qui! Group is an innovative company with unique expertise and market position, which has reached maturity to accelerate its international expansion. We are proud to partner with a formidable entrepreneur in Gregorio Fogliani, providing growth capital and experience in managing international expansion".
The transaction will be funded primarily from funds managed by KKR Credit. No financial terms were disclosed.
Advisors to KKR include Linklaters and Deloitte. Mediobanca and Studio Pedersoli are supporting Qui! Group on the transaction.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
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