Monthly Archives: November 2017

Apax Partners and Altamir support Altran’s transforming acquisition of Aricent

Apax

Paris (France), 30 November 2017 – Apax Partners and Altamir confirm their support for the acquisition of Aricent announced today by Altran Technologies, their commitment to vote in favour of  the rights issue at the EGM and their intention to participate pro-rata in the rights issue.The acquisition of the US company Aricent is a transforming operation that will allow Altran to confirm its position as the undisputed world leader in engineering and R&D services.

Apax Partners and Altamir, which have been supporting Altran’s strategy since 2008, hold 8.4% of Altran’s share capital through the Altrafin Participations holding.

For more information on this operation, please refer to Altran’s press release issued today.

 

About Apax Partners

www.apax.fr

Apax Partners is a leading private equity firm in Europe. With 45 years of experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies. Funds managed and advised by Apax Partners exceed €3 billion. These funds invest in fast-growing small and mid-market companies across four sectors of specialisation: TMT, Consumer, Healthcare and Services.

About Altamir

www.altamir.fr

Altamir (Euronext Paris-B, LTA) is a listed private equity company with almost €800m in assets under management. The company invests via and with the funds managed or advised by Apax Partners France and Apax Partners LLP, two leading private equity firms in their respective markets. It provides access to a diversified portfolio of fast-growing companies across Apax’s sectors of specialisation (TMT, Consumer, Healthcare, Services) and in complementary market segments (mid-sized companies in French-speaking European countries and larger companies across Europe, North America and key emerging markets).

 

Contacts

 

Apax Partners

Coralie Cornet

Tel.: + 33 1 53 65 01 35

Email: coralie.cornet@apax.fr

 

Altamir

Agathe Heinrich

Tel.: +33 1 53 65 01 74

Email: agathe.heinrich@altamir.fr

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Ardian enters into exclusivity to become majority shareholder of DRT alongside founding families and Tikehau Capital

Ardian

This shareholding reorganization maintains the independence of DRT and aims at giving the group the means to pursue actively its growth ambitions, both organically and externally.

Paris, November 30, 2017 – Ardian, the independent private investment company, has entered into exclusivity with some family shareholders and Tikehau Capital to acquire a controlling stake into Les Dérivés Résiniques et Terpéniques (“DRT”). The proposed transaction values DRT at approximately €1 billion and is fully supported by DRT’s management team which will remain in place and is headed by its CEO Laurent Labatut. This transaction would be a further step in the company’s development path as many individual shareholders and Tikehau Capital have decided to reinvest part of their proceeds alongside Ardian.

Created in 1932 and headquartered in Dax (France), DRT is a global leading producer of ingredients derived from plant-based chemistry, mainly from pine trees. In that respect, DRT fits perfectly within two of Ardian’s core verticals, namely ingredients and fine chemical. With a turnover estimated at €500m in 2017, DRT is a truly international company with more than 80% of its business made outside of France, of which around 25% in the Americas and more than 10% in Asia. The group employs close to 1,300 people and is operating through a global footprint with four production sites located in France, two in the USA, three in India and one in China.

The two main families of ingredients produced by DRT are terpenes and rosins derivatives. They provide mainly olfactory or tackifying/stickiness properties and are used in various resilient and growing end-markets like Flavors & Fragrance, Health & Nutrition, Adhesives & Coatings, Agriculture, Chemical Intermediates and Energy. DRT has built strong positions on each of those markets thanks to its advanced innovation capabilities (more than 50 people dedicated to R&D), its close partnership with customers, its industrial process know-how with constant investment into extraction and distillation capacities, and its long-term secured sourcing of natural & renewable resources.

DRT is at the forefront of sustainable growth and development. This is a key value for Ardian, acting as a responsible investor. Through a sustainable forest management sourcing, DRT is a green-impact best-in-class player. DRT industrial processes valorize renewable resources and adhere to principles of environment-friendly practice. DRT has also invested significantly into green energy, with a biomass cogeneration plant in France satisfying the vast majority of its energy needs.

DRT has enjoyed a rapid development phase over the past few years with a strong support from Tikehau Capital. In particular, in 2016, DRT made two significant steps in the USA with the $140m acquisition of Pinova Inc. from Symrise and the construction of a complementary new greenfield plant. Overall, over the past 3 years, the group has invested more than €85m in organic growth projects.

Should the transaction be consummated, Tikehau Capital would recognize a capital gain estimated at c. €153m for the sale of its entire stake in DRT.

Thibault Basquin, Managing Director Ardian Mid Cap Buyout, declared: “We are very pleased to partner with Laurent Labatut and his team. DRT has a unique green positioning and its strong culture and values fit Ardian ones. This transaction is also a new example on how we can accompany a family-owned company in a new transition phase”. Olivier Personnaz, Director Ardian Mid Cap Buyout, added: “We have been very impressed by the quality of DRT people and their innovation expertise, we look forward to supporting them in the growth project aiming at reinforcing DRT on its markets through both organic and external growth”.

Laurent Labatut, CEO of DRT, said: “We are very happy to welcome Ardian as a reference shareholder of DRT. They clearly share the management team’s willingness to accelerate the development of the company. Ardian’s arrival alongside the historical shareholders reinforces the independence of DRT and represents a new step in our history. Together, we will contribute to enhance DRT’s leadership position”.

Christian de Labriffe of Tikehau Capital, added: “We were welcomed by the family shareholders as a shareholder of DRT in 2014 and we have been supporting the growth strategy led by the management since then. We are delighted to be associated with DRT’s management team and Ardian for this new growth phase. This transaction will provide DRT with the financial means to pursue its development and consolidate its global leading positions”.

Financing for the proposed transaction is underwritten by BNP Paribas, Crédit Agricole CIB and Société Générale CIB.

The proposed transaction remains subject to several conditions including customary approvals by the antitrust authorities and signing of a definitive agreement.

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$66bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 470 employees working from twelve offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore). It manages funds on behalf of 640 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

Follow Ardian on Twitter @Ardian

 

ABOUT TIKEHAU CAPITAL

Tikehau Capital is an asset management and investment Group which manages €12.6bn of assets, with shareholders’ equity of €2.3bn. The Group invests in various asset classes (private debt, real-estate, private equity and liquid strategies), including through its asset management subsidiary Tikehau IM, on behalf of institutional and private investors. Controlled by its managers, alongside leading institutional partners, Tikehau Capital employs 185 staff in its Paris, London, Brussels, Madrid, Milan, Seoul and Singapore offices.

Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code: FR0013230612; Ticker: TKO.FP)

www.tikehaucapital.com

PARTIES INVOLVED IN THE TRANSACTION

Ardian

  • Ardian: Thibault Basquin, Olivier Personnaz, Alexis Manet, Manon Massoni
  • M&A advisor: Raphaël Financial Advisory (Benoît O’Mahony)
  • Legal advisor: Latham & Watkins (Corporate: Gaëtan Gianasso, Louis Paumier, Elise Pozzobon, Louise Gurly – Financing: Xavier Farde, Carla-Sophie Imperadeiro – Structuring: Xavier Renard, Yann Auregan) – Antitrust: Hugues Vallette Viallard, Adrianne Salaün)
  • Buyer Due Diligence:
    • Commercial: Advancy (Sébastien David, Thomas Dubouchet, Barthélemy Grave, Timothy Chilton)
    • Financial: Deloitte Finance & Operations (Frédéric Steiner, Jean-Philippe Grosmaitre, Renaud Adam, Tony Gies, Thomas Meleard)
    • Tax: Taj (Olivier Venzal, Eric Couderc)
    • Legal: Latham & Watkins
    • ESG: Deloitte (Nicolas de Jenlis)
    • Insurance: Siaci Saint Honoré (Jonhanne Charbit, Nicolas Rivière)
    • Environmental: Ramboll (Michel MacCabe, Gordon Cobb)

 

DRT

  • M&A advisor: Rothschild Transaction R (Pierpaolo Carpinelli, Martin Volatier, Augustin Delouvrier, Edouard Lagarrigue de Meillac, Anaïs Pons)
  • Legal advisors: Orrick Rambaud Martel (Saam Golshani, Guillaume Kessler, Julien Bensaid, Anna Leitchenko), Jeausserand Audouard (Jérémie Jeausserand, Alexandre Dejardin, Carole Furst, Eléonore Gaulier)
  • Vendor Due Diligence:
    • Financial: EY Transactions Services (Laurent Chapoulaud, Hugo Primas, Victor de Fromont, Benjamin Piquet)
    • Tax: EY Transaction Tax (Matthieu Autret, Benjamin Pique, Baptiste Gachet) and EY Tax (Johan Gaulin)

 

Financing parties

  • CA-CIB (Thibery Gleizes, François de Montlivault, Alexandre Duhem)
  • BNP Paribas (Charles-Edouard de Cabrol, Louis Ghesquière Dierickx, Oceane Savoldelli)
  • Société Générale CIB (Patrick Sandray, Frédéric Fouillen, Imane El Alaoui, Alexis Raymond)
  • Legal advisor: Gide (Eric Cartier-Millon, Nathalie Benoit)

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FIELDS Group acquires majority stake in FMTC

Fields Group

November 2017 – FIELDS Group, a renowned industrial holding with offices in Amsterdam and Munich, acquires a majority stake in FMTC. FIELDS Group will support the management of the fast growing safety training provider in its further expansion. FMTC is one of the leading safety training providers in the Netherlands for offshore, maritime, wind and industry. With locations in Schiphol, IJmuiden and Dordrecht, the company can serve its client base optimally. Approximately 70 skilled trainers provide the highest quality of safety training according to the highest international standards. Together with founder Rob Bruinsma and the management team of FMTC, FIELDS Group will further build on the strong foundation that has been built in recent years.

Rob Bruinsma, managing director of FMTC, explains: “With FIELDS Group we have found a partner with relevant experience in further professionalizing our organization and prepare for further growth in the Netherlands as well as abroad. Our current setup with three locations in the Netherlands enable us to service our European client base. Coming years we will look for opportunities to expand our highly flexible, customer focused model into other countries.”

René van der Velden, CEO of FIELDS Group: “FMTC has managed to disrupt the Dutch market for safety training for offshore, marine, wind and industry by offering a highly flexible model, the highest possible quality on an exciting location, that offers a unique experience for trainees. FMTC has proven to be very successful and we are very excited to be able to partner with Rob and his team to further role out this concept internationally. We have identified various opportunities and FIELDS will support FMTC with follow-on investments if needed.”

About FMTC

FMTC, with training locations in Schiphol, Dordrecht and IJmuiden, is a provider of safety training for offshore, maritime, wind and industry. FMTC is fully certified by all relevant parties such as OPITO, NOGEPA, GWO and STCW.

www.fmtc.nl

 

About FIELDS Group

FIELDS Group is a renowned industrial holding with offices in Amsterdam and Munich. With its in-house operational taskforce FIELDS Group is directly involved with the development of the group companies. FIELDS Group invests in industrial companies with its headquarters in the Netherlands or Germany.

www.fields.nl

 

Contact for press:

Rob Bruinsma, FMTC: +316 5029 6819, rob@fmtc.nl

René van der Velden, FIELDS Group: +316 5343 5712, r.vandervelden@fields.nl

 

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Eurazeo and RHÔNE to form strategic partnership

Eurazeo

EURAZEO TO ACQUIRE A MINORITY STRATEGIC INTEREST IN RHÔNE RHÔNE PARTNERS BECOME EURAZEO SHAREHOLDERS PARTNERSHIP WILL ACCELERATE THE LONG-TER M STRATEGIC  DEVELOPMENT OF BOTH FIRMS

Paris, London & New York, November 29, 2017

Eurazeo, a leading global listed investment company based in Paris and New York, and Rhône, a leading international private equity firm based in New York and London, today announce a strategic partnership. Under the terms of the agreement, Eurazeo will acquire a 30% interest in Rhône in exchange for $100 million cash (€84million) and 2 million newly issued Eurazeo shares. Eurazeo is a Euronext-listed investment company, with total assets under management of €7billion. Rhône is a global alternative investment management firm with over €5 billion in assets under management across both its private equity business and its real estate joint venture with WeWork, the global leader in the collaborative workspace industry.

The partnership is predicated on both firms’ like-minded investment philosophy, common and complementary transatlantic heritage, and historical cultural alignment. This is evidenced by the global geographical presence of each firm, anchored by their common European and American heritage and long-standing network of relationships.

The complementary skills and character of each firm will serve to enhance the benefits of the partnership for both firmsand their

stakeholders, including broadening the ir scale and scope of investment capabilities and reinforcing and cross-pollinating respective networks.

 

One Rhône representative will serve as an observer on the Eurazeo Supervisory Board while three Eurazeo representatives will serve on Rhône’sBoard of Managers. However, each firm will continue to operate independently and will maintain full discretion over their investment decisions.

The transaction will be accretive to Eurazeo. It is expected to close in the first half of 2018 and is subject to regulatory approvals and other customary closing conditions.

 

Patrick Sayer, CEO of Eurazeo, said: “We are delighted to partner with Rhône. Together with their world-class investment team, whom we have known for a long time, we share an investment vision and a similar entrepreneurial DNA. This strategic partnershipwill bolster Eurazeo’s business model and help usgrow and transform companies, creating further value for our shareholders.”

Virginie Morgon, Deputy CEO of Eurazeo, added: “Capitalizing on our unique model that combines permanent capital and third-party money, we have successfully built over the past few years a multi-strategy international investment firm. Today’s transaction with Rhône accelerates this strategy.Beyond the financial investment in a top-performing asset management company, this agreement represents a valuable opportunity to significantly broaden our transatlantic reach and gain access to a wider universe of investors.”

Robert Agostinelli, Co-Founder and Managing Director of Rhône, said: “Our common bond of culture, history and relationships provide a natural predicate for this important milestone in the firm’s development. We are delighted to become shareholders in Eurazeo, and this partnership will serve to enhance the future prospects of both of our businesses.”

Steven Langman, Co-Founder and Managing Director of Rhône, added: “While we will continue to operate our firm independently, our shared values and traditions provide an exciting and natural base for this partnership to drive great benefits for our respective investors . We are excited to work more closely with the leading shareholders and management of Eurazeo, many of whom we have known intimatelyfor over 30 years.

About Eurazeo

With a diversified portfolio of approximately €7 billion in assets under anagement, of which €1 billion from third parties, Eurazeo is a leading global investment company with offices in Paris, Luxembourg, New York, Shanghai and Sao Paolo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers a broad spectrum of private equity strategies through its five business divisions –Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise and a gateway to global markets, and enables the transformational growth of its companies.

Eurazeo is listed on Euronext Paris.

ISIN: FR0000121121

Bloomberg: RF FP

Reuters: EURA.PA

About Rhône

Rhône was founded in 1996 by Robert F. Agostinelli and M. Steven Langman following their successful careers in cross-border mergers and acquisitions with Goldman Sachs and Lazard. With over 20 years of investing experience, Rhône comprisesa global alternative investment management firm with over €5 billion in assets under management, including its real estate joint venture with WeWork.The firm focuses its private equity investments in market leading businesses with a pan-European or transatlantic presence and global growth opportunities. Rhône, which is currently investing capital from its fifth private equity fund, has invested in a diversified portfolio of companies including those in the chemical, consumer product, food, packaging, industrials, specialty material, business services, and transportation sectors.

In addition, the firm has a joint venture with WeWork to acquire real estate and real estate related assets that are suitable for WeWork.

 

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Mytonomy Announces Series A Financing Headlined by an Investment from Philips

Philips Ventures

Bethesda, Maryland –November 29, 2017 – Mytonomy, a leader in provider driven patient experience solutions to improve patient outcomes, announced it is closing a $7M Series-A funding round, including an investment from Philips, a global leader in health technology.

“Philips brings an extensive track record in consumer health and professional healthcare in key areas that align with Mytonomy’s growth, such as cardiology, oncology, imaging, mother/child care and population health. Philips is a value-add investor as we scale our Patient Experience Cloud business. We are thrilled to have members of the Philips Health Technology Ventures team join our board as they bring decades of healthcare industry and software execution expertise,” said Anjali Kataria, CEO of Mytonomy.

“Mytonomy’s software platform drives multiple benefits for many stakeholders in the provider environment, simultaneously; we drive longitudinal patient activation, improve patient, family and staff satisfaction, decrease labor costs, and increase top-line growth by delivering a significantly better, data-driven, personalized patient experience across the entire care continuum,” said Kataria.

“The results that Mytonomy and its founders have achieved in recent years are very impressive,” said Rich Wilmot, head of Philips Health Technology Ventures. “Their innovative product has strong traction in the market as hospitals achieve very high patient satisfaction from patients who use Mytonomy’s cloud-based patient education system. Moreover, Philips and Mytonomy share a joint vision of marrying unique data sets such as patient-reported outcomes and clinical metrics to drive better clinical outcomes, while enhancing the patient experience, and driving down inefficiencies and cost. We look forward to teaming up with Mytonomy to help grow the business, and ultimately forge a productive partnership path for the two companies.”

Other notable investors include MedStar Health and Super Angels such as George John, co-founder of Rocket Fuel and an AI thought leader, and Gokul Rajaram, Head of Product for Square and a former Facebook and Google executive.

Mytonomy seamlessly spans pre-procedure, pre-arrival, in-patient, discharge, at home, and ambulatory care with a consumer like experience that is both high-tech and high-touch increasing labor efficiency of staff. “Nurses call Mytonomy their virtual assistant,” said Kataria.

“Like popular consumer video streaming services, Mytonomy delivers personalized content directly to patients on any device throughout their care journey,” said Vinay Bhargava, Mytonomy’s Co-founder and President. “Bringing user-centric design principles to healthcare has led to very high patient usage across all major demographics and is delivering a fantastic, tailored patient experience for each patient,” he said.

The patient experience is of paramount importance to the healthcare industry.  Gartner’s 2017 report “The Future of Experience in Healthcare Demands a Consumer-Aligned Collaborative Ecosystem”*, includes the following observations:

  • Sixty-one percent of U.S. integrated delivery systems (IDSs) now have a senior executive specifically charged with accountability for the patient experience.
  • The experiences that consumers have in healthcare — positive or negative — influence their future decisions when navigating the healthcare system and their personal health behaviors. These decisions are powerful determinants of health outcomes and medical costs.

 

*Gartner, “The Future of Experience in Healthcare Demands a Consumer-Aligned Collaborative Ecosystem,” Jeff Cribbs, Mark E. Gilbert, 28 April 2017.

About Mytonomy

Mytonomy is the leader in Patient Experience Cloud Software for hospitals and providers. Leveraging behavior science, Mytonomy offers a data driven personalized patient education, engagement and experience software platform resulting in unprecedented cost savings and improvements in patient outcomes. Our cloud software combined with modern microlearning video education enables seamless access across the care continuum:  pre-procedure, pre-arrival, in-patient, discharge, at home, rehabilitation and ambulatory care with a consumer like experience, that is both high-tech and high-touch.  Mytonomy’s founders are former executives from Google, Oracle, and the FDA.  The company is headquartered in Bethesda, MD. For more information, visit www.mytonomy.com.

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Gaw Capital Partners and Consortium Partners Win Bid to Acquire 17 Shopping Centers in Hong Kong

Gaw Capital

November 28, 2017, Hong Kong – Real estate private equity firm Gaw Capital Partners today announced that the firm, through a fund under its management, and consortium partners, including Goldman Sachs, have won a bid to acquire a retail portfolio comprising 17 shopping centers in Hong Kong from Link Asset Management Limited at HK$ 23 billion and an average price of around HK$7,922 per sq. ft. excluding parking.

The portfolio is comprised of a number of strategically-located properties across Kowloon and the New Territories that sit in the heart of densely-populated communities and in close proximity to MTR stations. The GFA of the portfolio totals 2.2 million sq. ft. of prime retail space and comes with over 8,000 parking spaces that are connected to highly-convenient transport links. Their excellent accessibility and holistic shopping environments have made them attractive destinations for retailers and hubs of community life for residents.

The shopping centers included in the portfolio are: Cheung Hang Shopping Centre, Kai Yip Commercial Centre, Kam Tai Shopping Centre, Lei Cheng Uk Shopping Centre, On Ting Commercial Complex, Shek Lei Shopping Centre I & II, Tai Wo Hau Commercial Centre, Tsz Ching Shopping Centre, Yau Oi Commercial Centre and Yung Shing Shopping Centre, Kwai Fong Plaza, Kwai Shing East Shopping Centre, Lai Kok Shopping Centre, Lee On Shopping Centre, Retail and Car Park within Shun Tin Estate, Tsing Yi Commercial Complex and Lions Rise Mall.

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “We and our partners strongly believe in Hong Kong’s future, and believe these malls, which Link REIT has done an excellent job in upgrading and maintaining, will continue to serve important functions in the community. We hope to utilize our experience to evolve these malls into refreshed and renewed centers of local life. To be successful, we will need the support of the community, and we look forward to working with them to understand the gaps that could be filled and how we can support them to make their neighborhoods better homes.

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, commented, “We are delighted to have won the bid together with our consortium partners to acquire and manage these assets. Despite the rise in e-commerce, we believe retail facilities such as these continue to be highly important foundations of community life, and we recognize their strong potential to thrive in the years ahead. We look forward to applying our deep experience in repositioning commercial property to add significant strategic value to these shopping centers.”

Gaw Capital has over 12 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Pacific Century Place in Beijing, a 1.8 million sq. ft. renovated mixed-use commercial property with two office towers and two serviced apartment block on a retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 302,000 sq. ft. retail mall; Plaza 353 in Shanghai, a 430,000 sq. ft. renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 994,000 sq. ft. retail mall connected to the Guangzhou East Rail Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 956,000 sq. ft. mall above on two subway lines.

About Goldman Sachs Group
The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.

Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

The firm has raised five commingled funds targeting the Greater China and Asia Pacific region since its inception. In addition to managing opportunistic funds in Vietnam and the US along with a Pan-Asia hospitality fund, the firm also provides services for separate account direct investments globally.

Gaw Capital has raised equity of USD$ 8.6 billion since 2005 and commands assets of USD$ 13 billion under management as of Q2 2017.

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Industrifonden leads €3 million investment in DPOrganizer

IndustrieFonden

We are thrilled to announce our €3 lead investment in European regulation tech pioneer DPOrganizer. The financing will be used to ramp up expansion both in Sweden and globally by strengthening the product, the tech team and expand its SaaS solution that helps companies worldwide to grow with the upcoming EU directive GDPR. Welcome to the family, Egil, Lelle, Cecilia and the rest of the team! 

Blogpost: Thoughts on our investment in DPOrganizer by our investor Sara Resvik

Data protection management company DPOrganizer offers a Saas tool that helps businesses map, visualize, report on and manage their personal data processing. The software helps businesses comply with the General Data Protection Regulation (GDPR), which comes into effect in May 2018. The regulation affects any company that handles personal data about Europeans, across the globe. Due to the rapidly growing GDPR market, DPOrganizer has grown tenfold over the last year, both in number of employees and in revenue, and serves customers in Europe, Asia and the US.

“Hundreds of thousands of businesses will be affected by the GDPR, and we now stand better positioned to become an important player in the market. It has been important for us to find investors who truly understand the craft of building a business. We are very happy to get Industrifonden and Creades onboard, both of whom share our vision and can help us grow smarter and faster. ” says Egil Bergenlind, CEO and founder of DPOganizer.

The financing will be used to ramp up expansion both in Sweden and globally by strengthening the product, the tech team and expand its SaaS solution that helps companies worldwide to grow with the upcoming EU directive GDPR. With less than 6 months to go, previous studies have shown that only 6% of UK FTSE 350 companies are completely prepared for the GDPR. A Swedish study indicates that 92 % of European companies are not at all prepared for GDPR.

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Nordic Capital-backed Itiviti announces the intention to combine with ULLINK to create a new global force in capital markets technology and infrastructure

Nordic Capital

Itiviti, backed by Nordic Capital Fund VII, today announces the intention to combine with ULLINK to build a full service technology and infrastructure provider for global and regional financial institutions.

The proposed combination of Swedish based Itiviti, a global leader in trading software for banks and trading firms, offering the full spectrum of sell-side capabilities and ULLINK, a best in class platform for cash equity and derivatives trading solutions, is intended to create a world-leader in capital markets technology with revenues of over $200 million, 1,000 employees and a local market presence in all major markets of Europe, Asia and the Americas. Due to its scale and diversification, the new company will be a full service provider for global and regional financial institutions.

The proposed combination would provide for a merger of two equals, both with market leading technology. Through scale and diversification, the combined entity would be ideally positioned to take advantage of shifting trends in the financial services industry, including new regulatory requirements such as MiFiD II, which are forcing financial institutions to revise their technological strategies in order to meet new compliance rules. The combined product portfolio would support the complete order cycle across all asset classes and therefore the combined company would be a powerful partner to existing and new customers within the finance industry.

Torben Munch, CEO of Itiviti comments: “The proposed combination will offer our customers the industry’s broadest range of products based on modern, flexible technology. The global reach of the combined entity will be unique and both ULLINK and Itiviti share the ambition to meet our customers’ demand for solutions that cover all asset classes and the full value chain. In a world with increasing regulatory pressure and changing market structures the combined entity would become the reliable and long-term partner our clients can depend on. We are also looking at bringing together a pool of talented people across the world with in-depth industry experience and technological expertise. The companies complement each other in many ways and the focus will be on growth and expansion. It is our goal to make the combined company the undisputed technological leader in our industry.”

Didier Bouillard, CEO of ULLINK comments: “The proposed combination of ULLINK and Itiviti would create a world-leader in Capital Markets technologies and services. Itiviti provides leading solutions in connectivity, market making and trading, with considerable expertise in the derivatives space. ULLINK’s core competence in High Touch and Low Touch OMS and our world-leading NYFIX network complement Itiviti’s solutions, and our capabilities in connectivity would create a global powerhouse unrivalled in the industry.”

Fredrik Näslund, Partner at the Advisor to the Nordic Capital Funds says: “Nordic Capital started this journey in 2012 seeing large opportunities in transforming the financial sector and creating a world-leading provider of complete trading technology solutions for the global capital markets. Itiviti was formed of Orc Group, CameronTec and Tbricks, and we are now reaching a new milestone by looking at creating one of the largest global players in the combination of two strong companies, Itiviti and ULLINK. Nordic Capital sees great value potential in creating this game-changer in the financial industry.”

The transaction is subject to consultation of the French works council and customary antitrust and regulatory approvals.

 

Media contacts:

Katarina Janerud, Communications manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Torben Munch, CEO
Itiviti
Tel. +45 2223 4789
e-mail: torben.munch@itiviti.com

Didier Bouillard, CEO,
ULLINK
Tel: +44 207 743 7228
e-mail: Didier.bouillard@ullink.com

About Itiviti

Itiviti is a world-leading technology provider for the capital markets industry. Trading firms, banks, brokers and institutional clients rely on Itiviti technology, solutions and expertise for streamlining their daily operations, while gaining a sustainable competitive edge in global markets. With 13 offices and serving more than 400 clients worldwide, Itiviti has a track record of delivering innovative financial infrastructure solutions covering all asset classes, across geographies and regulatory landscapes. We offer highly adaptable platforms and solutions, enabling clients to stay ahead of competitive and regulatory challenges. For more information please visit www.ititviti.com

About ULLINK

Nordic Capital-backed Itiviti announces the intention to combine with ULLINK to create a new global force in capital markets technology and infrastructure Image

ULLINK was founded in 2001 and is a global provider of market leading multi-asset trading technology and infrastructure for buy-side and sell-side market participants, including NYFIX, one of the industry’s largest FIX based trading communities. Trusted by over 150 of the world’s top-tier banks and brokers, the company provides consistent, reliable access to the most current and innovative trading solutions available. Their multi-asset solutions allow customers to connect to their desired markets, trade when and where they want, while being able to comply with global regulation. From its 10 offices covering all the major global financial centers, the team will advise on the best approach to address customers’ challenges and deploy its technology. For more information, please contact connect@ullink.com or visit www.ullink.com.

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 11 billion through eight funds. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

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Hg receives definitive binding offer from Itiviti to acquire

HG Capital

28 November 2017: Hg has announced today that it has received a definitive binding offer from Itiviti, a company backed by Nordic Capital, to acquire Ullink. This proposed sale is subject to French workers’ council consultations, and customary approvals, such as regulatory clearances. The terms of the transaction were not disclosed.

Ullink provides mission critical electronic trading and connectivity solutions to the financial community globally. Based on its proprietary multi-asset trading technology and infrastructure, the company serves 2,000 clients in 40 countries and is acknowledged as a leader and innovator in the financial technology space.

Hg initially invested in Ullink in 2014 and has been working with the management of the company since 2014 to build a leading FIX based trading community through strong organic growth and the acquisitions of NYFIX and Metabit.

This original investment in Ullink by the Hg Technology Team followed many years of experience in Hg’s proven sector-focused approach of investing in leading global providers of vertical market application software. Ullink shares the core characteristics that Hg looks for: it provides an excellent platform for growth with a subscription revenue model across a diversified client base with a proven commitment to innovation.

The realisation of Ullink would represent the second exit from the Hg 7 (2013) Fund, following the sale of P&I in November 2016, which together with a number of refinancings completed across the unrealised portfolio, has now delivered overall realised returns of 2.6x and a 36% gross IRR. The Fund has now returned in cash 41% of the original investment made.

This proposed transaction follows the successful exits over 2017 year-to-date of Zenith, QUNDIS, Parts Alliance, e-conomic, Zitcom and Sequel Business Solutions, which have returned £1.3 billion to investors with an overall 3.0x investment multiple / 35% gross IRR. A number of further realisations from the Hg funds are anticipated over the coming months.

Jonathan Boyes, Partner at Hg, said: “We are very pleased to have achieved an outstanding result for both Ullink and our Hg clients. This has been achieved through Ullink’s transformational merger with NYFIX and strong organic growth that followed as the management team professionalised the combined business. We wish Ullink’s management and employees every success as they enter their next phase of growth.”

Jean-Baptiste Brian, Director at Hg, commented: “The proposed realisation of Ullink follows a successful partnership with the Company over the past 3 and a half years to build a leading global provider of electronic trading and connectivity solutions to the financial community both organically and through acquisition. We would like to thank the management and employees of Ullink for their outstanding work and effort to achieve this outcome.”

Didier Bouillard, CEO at Ullink said: “The combination of Ullink and Itiviti would create a world-leader in Capital Markets technologies and services. Itiviti provides leading solutions in connectivity, market making and trading, with considerable expertise in the Derivatives space. Ullink’s core competence in High Touch and Low Touch OMS and our world-leading NYFIX network complement Itiviti’s solutions, and our capabilities in connectivity create a global powerhouse unrivalled in the industry.”

Hg were supported by Credit Suisse, Skadden and Deloitte on the sale.

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Medical Artificial Intelligence company Quantib receives capital injection of EUR 4.5 million

Faster and more objective diagnoses by automatic interpretation of MRI and CT scan data

Chicago, 27 November 2017 – At the world’s largest radiology conference (RSNA), medical Artificial Intelligence (AI) company Quantib announced today that it secured €4.5mln ($ 5.4mln) of fresh funding in a round that was led by Holland Venture and InnovationQuarter. Quantib develops Machine Learning (ML) applications for medical imaging analyses, allowing physicians and researchers to make more efficient and more accurate diagnoses. The investment supports Quantib with her international scale-up ambitions.

Founded in 2012 and headquartered in Rotterdam, The Netherlands, Quantib is one of the most renowned Dutch players in the field of medical AI applications. Quantib utilizes ML software for the segmentation, classification and quantification of medical images, improving diagnostic quality and allowing for a more efficient workflow of physicians and researchers. Quantib is a spin-off of the Erasmus MC, developing her products in close collaboration with the internationally recognized Biomedical Imaging Group Rotterdam (BIGR) under supervision of Prof. dr. Wiro Niessen. Moreover, Quantib has strong partnerships with industry players (GE Healthcare, Philips and Intrasense) for research, development and the distribution of her products. Recently, Quantib received media coverage as winner of The Dutch Data Science prize . Quantib’s first products received FDA approval and CE marking in 2016 and focus on the detection and tracking of neurological disorders such as Parkinson, Multiple Sclerosis and Alzheimer’s disease.

The investment allows Quantib to bring new ML applications to the market with regards to stroke, lung disorders, oncology and bone structures. Quantib will also establish new partnerships with leading international academic hospitals.

In conjunction with the investment, the management team has been reinforced with Arthur Post Uiterweer (former Philips and Boston Consulting Group) and Jorrit Glastra (former Shell). The supervisory board will consist of Prof. dr. Gabriel Krestin, Harm-Jan Wessels and health entrepreneur Jaap Maljers.

Rudolf Scholte, CEO of Quantib: “Our software supports radiologists and neurologists with their objective assessment of MRI- and CT scans. Our deep learning algorithms can support better diagnoses, and a better assessment of treatments’ effectiveness. Up until now, our main focus was on brain disorders. This investment allows us to develop new products and to extend our team.”

“Quantib’s applications help standardise and speed up image analysis and allows for the detection of subtle changes over time. It increases the objectivity of the diagnostic process and therefore delivers an improved diagnosis combined with more efficient processes, positively impacting a large group of patients. We see large international growth opportunities for the company and we are proud to be a part of this development.” says Ewout Prins, Managing Partner Holland Venture.

Francis Quint, Head InnovationQuarter Capital: “Quantib facilitates faster, better and more efficient diagnoses, a fantastic result from the close collaboration with Erasmus MC. We are happy to support this Rotterdam-based company with their ambition to extend the range of their current technology to other applications.”

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