Acquisition of Fidor Bank by Groupe BPCE

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Groupe BPCE has announced today the signing of an agreement with the key shareholders and the founders and managers of Fidor Bank AG related to the acquisition of their equity interests in the company.

The planned acquisition of Fidor is fully in line with Groupe BPCE’s strategic plan “Another Way to Grow” and will contribute to the acceleration of the rollout of the group’s digital strategy.

Founded in 2009 by its CEO Matthias Kröner, Fidor is one of the world’s first “Fintech Bank”, pioneering the collaboration between traditional financial services and technology businesses and having developed an innovative approach to retail banking. Fidor offers a unique proposition by combining an innovative customer experience relying heavily on the involvement of the 350,000 members of its community and an open organization and architecture to foster flexibility and agility.

Fidor has developed in particular a proprietary digital banking platform – Fidor Operating System – allowing for fast and easy functionality and enabling open and most advanced API Banking. Telefónica has announced this week the launch of O2 Banking, its mobile-only bank account in partnership with Fidor using the API Banking infrastructure.

By joining Groupe BPCE, Fidor will be able to capitalise on the support and backing of a solid banking group to accelerate its own growth and international development.

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Investment in Skioo Holding

Investinor

Investinor invests  2.5 million Euro in skitech startup Skioo Holding, which has Norwegian alpine ski champion Aksel Lund Svindal as one of its key shareholders.

Skioo offers an innovative ski pass app that lets skiers access a maximum of ski resorts with the same ski pass. No need to stand in line or book in advance, the skiers are automatically charged based on their use. The pay-per-use system connects skiers with ski resorts, as Skioo also collects valuable market data and enables significant cost savings for the skiing industry.

Skioos vision is to digitize the skiing market. There are currently 110 million active skiers in the world. They annually spend more than 5 billion Euro on ski passes, and another 15 billion Euro on related services such as purchase and rental of equipment, travel, food and drink etc.

Skioos solutions enables significant cost savings for skiing resorts , and generate valuable guest insights and market communication tools.

Alpine ski champion Aksel Lund Svindal has been an active owner in Skioo since 2015.

Says Aksel Lund Svindal:

“Skioo is a future-oriented solution that makes it easier for the customers to get out on the slopes. Along with the ski resorts we will also generate valuable customer insights and communicate in a better way. “

Says Bent Grøver, Investment Principal at Investinor:

Ski resorts are not only competing with each other, but even Sony Playstation and weekend city breaks. Skioo provides the tools that the resorts need to get more people out skiing more often. I look forward to working with Skioo team and our competent fellow shareholders.”

Skioo was founded in Switzerland in 2012 by the Gregory Barbezat and Yngve Tvedt (CEO of Norselab). The technology was initially developed and introduced in Switzerland, and the company now moves its headquartes to Oslo, Norway, as it rolls out its platform in other countries such as France, Austria, Italy and Norway.

In the recent financing round, Skioo raised a total of 5 million Euro from Investinor and the family office Canica. Post money the largest shareholders will be Canica, Investinor, Norselab, Gregory Barbezat, Gunnar Hvammen and Aksel Lund Svindal.

About Canica
Canica is one of the largest privately owned investment companies in Norway, and was founded by Stein Erik Hagen in 1985. The company has large holdings in companies such as Orkla, Jernia and Komplett, and a large real estate portfolio.

About Norselab
Norselab builds technology companies together with talented entrepreneurs. The company is established by Yngve Tvedt and Christian Lundvang, and has Aksel Lund Svindal as oneof its shareholders. Since its inception in 2012, the company has contributed to the development of more robust technology companies in Norway and internationally, where Skioo is one of these. Norselab is headquartered in Oslo, with operations in London, Washington D.C. and Palo Alto.

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Acquisition of HIVIC CO. LTD.

Polaris

Polaris Capital Group Co., Ltd.

July 20, 2016

Acquisition of HIVIC CO. LTD.

Polaris Private Equity Fund III (“Polaris Fund III”), managed by Polaris Capital Group Co., Ltd. (“Polaris”), and other investor have agreed with the existing shareholders that they will acquire 100% of the outstanding shares of HIVIC CO., LTD.(“HIVIC”) from LIXIL Corporation (“LIXIL”) in late August of 2016.

HIVIC, currently owned by LIXIL which is a consolidated subsidiary of LIXIL Group Corporation (“LIXIL Group”), engages in precut timber business and operation of membership-only direct bid timber market mainly in Eastern Japan, and has demonstrated steady business performance despite the fast -changing business environment since joining LIXIL Group.

HIVIC is known for its solid clientele among mid-size home builders and contractors across Tohoku-Northern Kanto areas, as well runs unique timber market operation, which enables HIVIC to reinforce direct relationship with clients by eliminating middle men such as construction material trading houses and sales agents. As such, HIVIC has successfully continued to provide highly value-added services to cater to extensiveclients’ requirements with broad product coverage of timber, building materials, housing equipment, window sashes, siding, air-conditioners, etc.

HIVIC prides itself on having strengthend its contractor support package business and diversification of product coverage beyond pre-cut/other timber materials with aims to further improve bottom lines, by leveraging on direct business relationships with mid-size contractors which were fostered over the years of timber market operation. For realization of business model innovation which HIVIC aims for, Polaris will extend strong support by sharing know-hows which were acquired through years of experiences in manufacturing

business support and carve-out buyouts. Polaris will also work with HIVIC to promote HIVIC’s future growth by understanding its strength and competitive edge, and by providing hands-on management support on finance, human resources and corporate governance to improve its enterprise value going forward.

For inquiries:

Junpei Yamada, Partner

Polaris Capital Group Co., Ltd.

Address: GranTokyo North Tower 38F 1-9-1 Marunouchi, Chiyoda-ku, Tokyo, Japan

Phone: 813-5223-6780

HIVIC CO., LTD.

Founded: June 1967

Representative: Hidenori Asahara, President and CEO

Address: 1728 Iizuka, Oyama City, Tochigi Prefecture, Japan

Business: Manufacturing and sales of precut timber, sales of timber, building

materials, housing equipment and others, sales of building components,

and construction and sales of custom-build wooden houses

Website: http://www.hivic.co.jp

 

Categories: News

MarketInvoice raises £7.2M

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MARKETINVOICE RAISES £7.2M IN THE FIRST MAJOR FUNDRAISE BY A PEER-TO-PEER LENDER SINCE BREXIT VOTE

  • New growth round led by MCI.TechVentures Fund of MCI Capital Group (investors in iZettle, Azimo, Gett, Auctionata), with existing investor Northzone also increasing its investment into the company
  • MarketInvoice currently providing over £1.5m per day in cash flow finance to UK businesses, and fast approaching the £1 billion mark of total funding through its platform since launch in 2012 
  • Funding coincides with the appointment of a Chief Marketing Officer and Director of Sales, and the move into a larger office in Shoreditch, East London

MarketInvoice has today announced a £7.2 million investment led by MCI.TechVentures Fund of MCI Capital, a listed Polish private equity group.

This marks the first major fundraise from a peer-to-peer platform since the Brexit vote, with a European venture backer investing directly into the leading UK fintech company. 

MarketInvoice, Europe’s largest peer-to-peer online invoice finance platform, will use the funds to cement its position as the biggest player in the UK, accelerate marketing, and continue developing its products around customer needs. 

The platform has already provided £850 million worth of funding to UK businesses, and is set to reach the £1 billion before the end of the year. 

As the peer-to-peer sector consolidates, MarketInvoice will now look to broaden its reach by targeting a wider range of businesses, from start-ups to mid-sized corporates. This will ensure even more companies have the ability to get paid faster by financing their invoices, allowing business owners to save time and focus on what’s most important – running their business. 

In order to continue its ambitious expansion, MarketInvoice also welcomes two senior hires in key positions, as the 100-strong team moves into a brand new Shoreditch office. Lisa Gervis (formerly of Sequoia-backed Elevate Credit and American Express) has joined as Chief Marketing Officer, with Rupert Thorp (formerly of Experian and Sky IQ) joining as Director of Sales. 

Existing investor Northzone, is also increasing its investment in the company. Sylwester Janik of MCI Capital joins the company’s board.

Categories: News

Magnus Agervald appointed as new CEO of Ratos

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2016-07-18

This information is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 18 July 2016 at 08:30 CET.

The Board of Directors has decided to appoint Magnus Agervald, as the new CEO of Ratos effective January 2017 at the latest. Immediately prior to joining Ratos, Magnus Agervald was President and CEO of the publicly listed Byggmax Group.

“The Board has worked intensely to find the right CEO for the next phase in Ratos’s development. We are very pleased that Magnus will now assume the position as CEO of Ratos. He possesses solid operational experience of investment operations and has led companies undergoing strong growth and rapid change. Magnus’s leadership is precisely what Ratos needs in the continued implementation of our strategy”, says Chairman of the Board Jonas Wiström.

Magnus Agervald has been President & CEO of the publicly listed Byggmax Group since 2008, prior to which he was a consultant at McKinsey & Company, an Investment Manager at the Nordic private equtiy firm IDI, and the founder of Icomera, a mobile internet company. He is 41 years old and holds an MSc in Economics from the Stockholm School of Economics, and an MSc in Engineering from the KTH Royal Institute of Technology.

“I am delighted and proud to have been tasked with heading Ratos. It is both inspirational and challenging to have been entrusted by the Board to continue advancing Ratos as an investment company. Just like Ratos, I am passionate about developing companies and look forward to providing our portfolio companies with support in long-term and sustainable business development”, says CEO-designate Magnus Agervald.

In conjunction with Magnus Agervald assuming his position in January 2017 at the latest, Acting CEO Lars Johansson will return to his role as Investment Director at Ratos.

For questions, please contact:
Jonas Wiström, Chairman of the Board, +46 8-700 17 20
Elin Ljung, Head of Corporate Communications, +46 8-700 17 20

– See more at: http://ratos.se/en/Press/Press-releases/2016/Magnus-Agervald-appointed-as-new-CEO-of-Ratos/#sthash.OUVB6hNI.dpuf

Categories: Personalia

Goldman Sachs Merchant Banking and Altor Fund IV to acquire Navico and Digital Marine Solutions from the Altor 2003 Fund

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On July 12th Goldman Sachs Merchant Banking Division and Altor Fund IV signed an agreement to acquire Navico Holding AS (Navico) and Digital Marine Solutions Holding AS (Digital Marine Solutions), owner of Jeppesen Marine, from the Altor 2003 Fund.

Navico is a leading provider of marine electronics to the recreational segment and is an innovative force within the commercial marine market. Navico sells its products under the three brands Lowrance, Simrad and B&G. The company was created from the acquisitions of Simrad-Yachting, Lowrance Electronics and Brunswick New Technologies.

Navico has worked systematically to integrate the three companies, consolidating seven brands into three, six factories into one and building one common technology platform. As a result, Navico has been driving innovation in its industry, launching one new product every 20th day, and has steadily grown its market share since 2009.

Subsequent add-on acquisitions completed include Maritime Information Systems, Concilium’s radar business and Contour Innovations. In addition, Digital Marine Solutions completed the acquisition of the companies and assets comprising Jeppesen Marine, which in addition to Navico will be acquired by the new owners.

Navico has also become the most profitable player in its industry, with 2015 Revenues of USD 309 million and an EBITDA of USD 62 million.

“It has been a privilege to work with the management team in Navico over the last ten years, building a great company, which is very well positioned for further growth. The high performing recreational business is an asset that also can be leveraged to grow in the commercial segment over the coming years. The digital platform represents a unique platform to participate in – and drive the digitalization of commercial marine in partnership with other industry players, with additional strength being brought to the platform by the new owners’ acquisition of Digital Marine Solutions from the Altor 2003 Fund”, says Hugo Maurstad, Chairman of the Board of Navico and Partner at Altor Equity Partners.

“We are impressed with Navico’s track record and speed of innovation”, says Michael Specht Bruun, Managing Director in the Merchant Banking Division of Goldman Sachs. “Through our partnership with Altor Fund IV we look forward to supporting the company and accelerating its organic and acquisition based growth”.

The transaction will be subject to customary regulatory requirements and approvals.

Categories: News

Infravia acquires a majority stake in Next Generation Data, Europe’s largest datacentre

InfraVia Capital Partners (InfraVia) and UK data centre operator Next Generation Data (NGD) today announced the acquisition by InfraVia European Fund III (“InfraVia III”) of a controlling stake
in NGD for an undisclosed amount. NGD’s founders, Simon Taylor (Chairman) and Nick Razey (CEO), will remain significant shareholders in the company. NGD opened its flagship 750,000 square feet data centre in south Wales in early 2010. The largest data centre in Europe includes its own private connection to the National SuperGrid with up to 180MW
of power (sufficient to power a city the size of Bristol) generated from 100% renewable sources.
NGD has attracted large multinational clients including a number of major Cloud Computing service providers. These require secure, resilient and scalable data processing and storage facilities for hosting Cloud, Big Data and High Performance Computing infrastructures.
Investment from InfraVia will enable NGD to accelerate future growth: it will be used for the expansion of existing UK data centre capacity including the addition of a second site and connection of further high speed transatlantic fibre communications networks. The funding will
also be made available for stepping up international sales efforts, especially in North America and Asia.

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Nordic Capital has sold its remaining holding in Menigo

Jul 06, 2016

Nordic Capital Fund VI (“Nordic Capital”) has sold its remaining 33 per cent ownership in Menigo Foodservice AB (“Menigo”). During Nordic Capital’s ownership, Menigo has been transformed into a strong and profitable company, leading the development of the Swedish food service market. Nordic Capital’s final divestment is part of Sysco’s acquisition of Menigo’s majority owner Brakes Group, creating the world’s largest food service group.

“During Nordic Capital’s ownership, Menigo was transformed from a loss-making division to a strong and profitable stand-alone company with a leading role in the development of the Swedish food service market. Menigo underwent an extensive operational improvement program impacting many areas of its business, including optimising the logistical set-up, expanding the private label range and improving its customer interface. I would like to thank the management teams of both Menigo and the Brakes Group for a successful collaboration in taking Menigo to where the company is today,” says Peter Hansson, board member of Menigo and Senior Advisor, NC Advisory AB, advisor to the Nordic Capital Funds.

After Nordic Capital’s acquisition of the division ICA Meny from the ICA Group in 2006, Menigo was rebranded as a stand-alone company and a leading company within the Swedish food service industry. Menigo’s transformation included investments in operational improvement not least in new distribution hubs and a new IT system. Today, Menigo operates from seven warehouse locations in Sweden, serving 15,000 customers with daily deliveries of frozen and chilled foods, fresh meat, fruit and vegetables.

In February 2010, Nordic Capital sold a majority stake in Menigo to the Brakes Group, one of Europe’s leading suppliers of food, drinks and catering equipment to the food service sector, which became the new principal owner of Menigo while Nordic Capital retained 33 per cent ownership in Menigo. Menigo has continued to operate as an independent company in the Swedish market while benefiting from being a part of a larger group.

Nordic Capital’s current divestment is part of Sysco’s acquisition of Brakes Group that was announced on February 22 and closed on July 5, 2016.

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Lubbers Logistics Group completes the acquisition of Wagenborg Nedlift division

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Lubbers Logistics Group, the logistics provider to the oil and gas drilling industry, has completed the acquisition of the Special Transport divisions of Wagenborg Nedlift in the Netherlands and Wagenborg GmbH in Germany as per July 1, 2016. The acquired divisions will be fully integrated into the Lubbers organization and will continue under the brand name Lubbers. The acquisition is part of Lubbers’ strategy to further strengthen its position in the European energy logistics market. The divestment allows Wagenborg Nedlift, a specialist in horizontal and vertical heavy transport, to focus on its niche market: lifting, heavy transport and assembly.

Through the acquisition Lubbers Logistics Group expands its workforce by 89 employees and adds 73 trucks and 165 trailers to its existing truck and trailer fleet. The combination enables Lubbers to further expand its European network and by leveraging the expertise of the Wagenborg Nedlift employees, Lubbers expects to further optimize the service to its customers.

The divestment enables Wagenborg Nedlift to focus on its core activities: lifting, heavy transport and assembly. In addition, Wagenborg Nedlift secures good future prospects for the Special Transport division employees who will relocate to Lubbers.

In the coming transition period as well as in the more distant future, there will (continue to) be close cooperation between the two companies, in which the interests of the customer and the quality of service will come first and foremost.

Categories: News

Credo Partners invests in SYSCO

Credo Partners
Oslo/Haugesund, Monday July 4th, 2016
The Norwegian investment company Credo Partners acquires 60% of the shares in SYSCO. The founders and key employees will keep the remaining 40% of the shares.
SYSCO is a leading supplier of IT services and software to the energy utility sector.
SYSCO has established itself as a leading specialist within IT-solutions for energy utility companies– a customer segment facing significant investments, regulatory change and technological development that will drive the need for
support and upgrade of IT systems. SYSCO has a particular competitive edge
within Oracle technology, which is the technological foundation for a large part of the IT systems in the energy utility sector.
The company already has 70 of 130 power distribution companies as its customers, giving it a strong
platform for further growth. SYSCO was founded in 2004, and had revenues of NOK 162
million and EBITDA of NOK 25 million in 2015.
SYSCO is a highly attractive platform for further growth, within a well -defined niche for IT services and software for the Nordic energy utility sector, says Managing Partner in Credo Partners, Gudmund Killi- We been looking for a partner who can strengthen SYSCO for further growth, and Credo represents the experience and competence we truly
believe will increase our ability to execute on our ambitious goals, says Frank Vikingstad, CEO of SYSCO.
No change for employees
The new ownership in SYSCO will not have any immediate implications for the company’s employees, suppliers or customers. Today’s highly competent management will continue leading the company, and the board of directors will be strengthened by new members from Credo as well as by external industry experts.
About the transaction
Credo Invest Nr 10 AS will own ca. 60% of the shares in SYSCO.
The transaction will be closed by the end of July.
The parties have agreed not to disclose the purchase price for the shares.
About Credo Partners
Credo Partners is a Norwegian investment company, which since 2003 has developed
companies through demanding situations.
Credo is today established as a leading player in Norway for value creation in small and medium sized enterprises.
Credo Partners’ other investments include Labflex, OptimarStette, Made for Movement, Variér, LOG and Kymar,
and former investments include Stokke and ForaForm.

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