Monthly Archives: July 2018

TA Associates to Invest in Compusoft

TA associates

BOSTON & SARPSBORG, Norway – TA Associates, a leading global growth private equity firm, today announced that it has entered into a definitive agreement to invest in Compusoft, a leading provider of computer-aided design (“CAD”) software to the kitchen and bathroom retail industries.

The investment is expected to close in the third quarter of 2018. Financial terms of the transaction were not disclosed.

Compusoft’s main products, Winner Design and Innoplus, provide design and sales support to kitchen and bathroom retailers, respectively. The user-friendly CAD systems include proprietary databases of graphic elements, pricing information and language translations from more than 2,800 digital manufacturer catalogues. They also feature fully-integrated graphics displayed in real‐time 3D. Additional Compusoft products allow individuals to easily design and view kitchens or bathrooms in 3D on a smartphone or tablet. The company also offers back-office customer relationship management (CRM) and process management software systems for small and large businesses. Founded in 1989 in Sarpsborg, Norway, Compusoft operates in 14 countries across Europe, as well as South Africa and Australia, and serves approximately 12,00o customers, including leading global manufacturers and retailers.

“Compusoft is among the industry leaders in Europe, with a high quality business model and an impressive history of sustained growth,” said Naveen Wadhera, a Managing Director at TA Associates who will join the Compusoft Board of Directors. “We look forward to partnering with Compusoft, which fits squarely within our focus on profitable businesses with strong management teams and proprietary products and services, to help the company capitalize on its strategy and accelerate growth.”

“Given our mission to create measurable added value for our customers, we believe TA Associates, with their well-earned reputation for helping businesses reach their full potential, is an ideal partner for Compusoft,” said David Tombre, Chief Executive Officer, Compusoft. “We have enjoyed notable organic and acquisitive growth over the course of our nearly 30-year history and are confident that TA can help us build on that success. We welcome the opportunity to work with TA as we explore opportunities for continued expansion.”

“As the demand for kitchen and bathroom modeling services continues to rise, we expect interest in Compusoft’s unique offerings and capabilities to expand further across Europe and other regions,” said J. Morgan Seigler, a Managing Director at TA Associates who will also join the Compusoft Board of Directors. “Importantly, Compusoft’s innovative technology provides customers with a user-friendly experience to develop fully-customized spaces to meet their individual needs and desires. With the company’s leading market position, we anticipate continued meaningful growth for Compusoft.”

Goodwin is providing legal counsel, while Alvarez & Marsal and KPMG are providing consulting services to TA Associates. Kvale is providing legal counsel and ABG Sundal Collier is serving as financial advisor to Compusoft.

About Compusoft
Founded in 1989 in Sarpsborg, Norway, Compusoft provides sales, management, communication, web and business solutions for the kitchen and bath industry. The company’s advanced CAD software solutions offer dynamic sales tools for retailers, helping them lead customers through the entire planning process, from sketch to fully installed kitchen or bath. With a focus on creating added value for its customers, Compusoft combines the development of high-quality software with a dedication to customer service. Compusoft operates in 14 countries across Europe, as well as South Africa and Australia. For more information, please visit www.compusoftgroup.com.

About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

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Breath Therapeutics Appoints Noreen Roth Henig, M.D. as Chief Medical Officer

GIlde Healthcare

Breath Therapeutics Appoints Noreen Roth Henig, M.D. as Chief Medical Officer

– Dr. Henig adds leadership and development expertise in pulmonary disease, inhaled therapies, and orphan disease to the executive management team

– Breath Therapeutics is targeting Bronchiolitis Obliterans with their first molecule, a Phase 3 ready asset

Munich, Frankfurt, Boston — Breath Therapeutics B.V. (Breath), a private company developing advanced drug-aerosol therapeutics in pulmonary orphan indications, announced today the appointment of Noreen Roth Henig, M.D. as Chief Medical Officer. Dr. Henig joins the executive management team and will lead Breath’s clinical development activities.

Dr. Henig brings to Breath more than 20 years of clinical and development leadership experience at emerging and leading biopharmaceutical companies, complemented by extensive medical experience in pulmonary and transplant medicine. Her expertise substantially strengthens BOSTON, the lead development program of inhaled L-CsA (Liposomal Cyclosporine A), for the treatment of Bronchiolitis Obliterans (BO), a lethal orphan respiratory disease. Breath’s pipeline of inhaled therapeutics is targeting severe respiratory diseases with high unmet medical need.

“Noreen´s background in advanced lung disease and lung transplant, her senior drug development expertise, and her strong strategic corporate thinking is an outstanding combination and perfectly complements the Breath management team“, said Dr. Jens Stegemann, Chief Executive Officer of Breath Therapeutics.

Noreen Henig stated: “I am looking forward to joining the Breath Therapeutics team and to growing the young company. This is a unique opportunity to develop a promising Phase 3 ready asset for a true unmet medical need“.

Prior to joining Breath, Dr. Henig was CMO of ProQR Therapeutics, where she oversaw all preclinical and clinical development of candidate molecules and was also responsible for patient safety, data transparency, medical ethics and governance. She successfully led the young biotech company through organic growth and was instrumental in raising a pre-IPO series and a successful NASDAQ IPO for the then preclinical stage company. Previously, Dr. Henig served as Senior Director, Global Medical Affairs, Respiratory and PAH of Gilead Sciences, where she designed and executed clinical trials, up to Phase 4. In particular, she provided medical support to two therapies indicated for severe pulmonary disease. Throughout her career, Dr. Henig has held several senior academic positions related to respiratory diseases and lung transplant at the California Pacific Medical Center and the Stanford University School of Medicine. She earned her M.D. with Distinction in Immunology from the Albert Einstein College of Medicine, completed training in Internal Medicine at UCSF and Pulmonary and Critical Care Medicine at University of Washington, Seattle.

 

About Bronchiolitis Obliterans (BO)

Bronchiolitis Obliterans (BO) is a severe progressive orphan disease of the bronchioles of the lung that leads to death from respiratory failure. BO is the leading cause of loss of transplanted lungs. Of more than 25 000 people currently living with a lung transplant, approximately half will die within the next five years, mainly related to BO. BO also occurs in patients following allogeneic hematopoietic stem cell transplant, autoimmune disease and some environmental exposures.

About Breath Therapeutics

Breath is a clinical stage biopharmaceutical company specializing in advanced and first-in-class inhalation therapies for severe respiratory diseases with high unmet medical need. For its clinical development, the Company is using new proprietary drug formulations optimized for inhaled administration with exclusively licensed, high performance nebulizers. Breath is focusing on integrated therapy solutions in the interaction between diagnostics, therapeutics and eHealth therapy monitoring.

Breath´s lead development program BOSTON is addressing the treatment of BO with a proprietary formulation of liposomal cyclosporine for inhalation. With proceeds from a USD 46 million Series A financing by top-tier European investors Sofinnova, Gimv and Gilde Healthcare, the Company is currently initiating Phase 3 studies in the US and Europe. PARI Pharma, a worldwide leading nebulizer company, is a strategic development partner and licensor for the eFlow® nebulizer technology for Breath’s BOSTON program.

Breath Therapeutics is Germany and US based with offices in Frankfurt, Munich and Boston.

For more information, please visit www.breath-therapeutics.com

Contact:

Breath Therapeutics B.V.
Dr. Jens Stegemann, CEO
Email: contact@breath-therapeutics.com

Media inquiries:

MC Services AG
Dr. Claudia Gutjahr-Loeser, Managing Director
Tel. +49 89 210 228–0
Email: breath-therapeutics@mc-services.eu

 

Gilde Healthcare

Gilde Healthcare is a specialized European healthcare investor managing two business lines: a lower mid-market buy-out fund and a venture & growth capital fund. It has over €800 million ($1 billion) under management and is actively looking to lead new investments in digital health, diagnostics, medical devices, therapeutics and healthcare services across Europe and the US.

 

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FiloBlu to accelerate its development with Ardian Growth

Ardian

Paris, 10 July 2018 – Ardian, a world-leading private investment house, today announces the acquisition of a minority stake in FiloBlu S.p.A., a leading digital consulting company based in Italy, focused on digital strategies, e-commerce and omnichannel to develop the online business and enhancing brand equity on a global scale for Brands and Retailers.

The strategic partnership between Ardian Growth and FiloBlu aims to accelerate the growth of the company by strengthening its organization and implementing an ambitious business strategy for the next three years. This partnership will lead to increased investments in research, innovation and training, while expanding FiloBlu’s international presence.

Christian Nucibella, founder of FiloBlu, said: “This partnership with a prestigious and world-leading investment house such as Ardian is an extraordinary opportunity for FiloBlu to strengthen our organization and achieve stronger growth. We will look to improve our ability to offer our clients and partners innovative services and cutting-edge technologies, helping them expand their business in the increasingly global marketplace and take advantage of the range of opportunities for growth offered by digital transformation.”

Laurent Foata, Managing Director of Ardian Growth, stated: “By carrying out this initiative alongside Christian Nucibella, we’re showing our desire to become a leading partner of companies like FiloBlu, which has put into practice an effective growth model on an international scale.”

Bertrand Schapiro, Senior Investment Manager at Ardian Growth, added: “After having combined profitability with very fast organic growth, FiloBlu is starting a new stage of its growth. We are pleased to support the company on its journey of further international expansion.”

The agreement comes at a particularly positive period for FiloBlu, which was recently awarded by Deloitte as one of the “Best Managed Companies” in Italy, and among the fastest-growing European digital companies, making Deloitte’s “Technology Fast 500 EMEA” ranking three years in a row since 2015. The company has also been ranked amongst the “Financial Times: 1000 Europe’s Fastest Growing Companies” for two years in a row since 2017.

ABOUT FILOBLU

FiloBlu is an ideal business partner for brands and retailers looking to develop their businesses and brand awareness internationally, thanks to a tailored sales, marketing and communication strategy that combines online shopping and brick-and-mortar retail. FiloBlu accompanies companies during the growth process. The joint initiatives of the parties are backed by data analysis using the dynamic Commerce Intelligence Platform, which gathers together the most important sources of information in real time. It has the capacity to connect a number of digital sources and monitor and analyse the behaviour and preferences of online users. FiloBlu provides its clients with a comprehensive array of local group companies in the most strategic markets, as well as integrated logistics facilities and a hub of competences with links to a network of international partners. Founded in 2009 by Christian Nucibella, FiloBlu has headquarters in Venice and offices in Milan, Naples, Lugano, Prague, New York, Shanghai and Hong Kong. One big, professional team of more than 120 people carries out digital-oriented business projects on a global scale.
www.filoblu.com

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas 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 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

LIST OF PARTIES INVOLVED

Filoblu : Christian Nucibella, Alberto Arcolin, Gaia Coller
Financial Advisor: Buttignon Zotti Milan & Co (Fabio Buttignon, Antonio Zotti, Lucia Scarpari)
Ardian : Laurent Foata, Bertrand Schapiro
Legal Advisor: Giovannelli e Associati (Fabrizio Scaparro, Paola Cairoli, Matilde Finucci)
Financial Advisor : KPMG Italy (Fabrizio Scaparro, Paola Cairoli, Matilde Finucci)

PRESS CONTACTS

FILOBLU
 PR & PRESS – AD MIRABILIA Tel. +39 02 4382191 filoblu@admirabilia.it
Manuela Lubrano Tel. +39 02 43821937 Cell. +39 349 2410696
Valeria Dalcore Cell. +39 3403861104
ARDIAN PR & PRESS – HEADLAND
Carl Leijonhufvud Cell. +44 020 3805 482 cleijonhufvud@headlandconsultancy.com

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Bomgar Acquiring Avecto to Create Leading Privileged Access Management Solution

Franciso Partners

  • Avecto adds market-leading endpoint privilege management to Bomgar’s Privileged Identity and Access solutions, resulting in a best-in-class Privileged Access Management (PAM) portfolio.
  • Combined solution will enable companies to defend against privileged access threats, and improve compliance, productivity, and performance.

Atlanta, GA – Bomgar, a leader in identity and access management solutions for privileged users, today announced it will acquire Avecto, a global leader in endpoint privilege management. Avecto’s Defendpoint technology combines privilege management and application control, making it easy to protect thousands of endpoints by making admin rights removal simple and scalable. Pairing Avecto with Bomgar’s privileged account and session management technology will enable businesses to fully implement the principle of least privilege and defend themselves against today’s most prevalent threats.

Forrester estimates that 80% of security breaches involve privileged credentials. Privileged accounts are coveted targets for attackers and must be protected from both internal and external threats. Bomgar’s solutions protect privileged accounts, passwords, and credentials, while securing the remote access pathways commonly exploited in these attacks. Avecto’s technology adds another layer of defense at the endpoint by allowing organizations to remove excess admin rights, only elevating privileges for approved applications and actions.

The addition of Avecto will also help the thousands of IT admins and support professionals using Bomgar’s Remote Support solutions to securely manage privileged access to desktops and workstations with minimal user interruption.

“With the addition of Avecto, Bomgar now offers one of the most comprehensive PAM platforms for managing and protecting privileged access,” said Matt Dircks, CEO of Bomgar. “Our companies share a passion for developing security solutions that users love because they’re quick to deploy, intuitive, and don’t impede productivity. We’re excited to combine forces with Avecto’s team, customers, and partners to develop new, innovative ways to mitigate the risks of privileged threats.”

According to Gartner, “The privileged access threat landscape is growing with a higher risk of enabling cyberattacks and severe consequences.” Gartner recommends that, “in order to deliver effective privileged IAM capabilities technical professionals should… acquire and deploy commercial PAM solutions to automate foundational capabilities such as privilege credential discovery, protection, session monitoring, privilege elevation and delegation, and audit controls.”

The acquisition will result in an integrated PAM offering with market-leading capabilities for:

• Privileged Account Auto-Discovery: Reliably discover and secure the widest range of privileged accounts across enterprises.

• Credential Management & Rotation: Change thousands of privileged passwords across an enterprise in minutes.

• Privileged Session Management: Securely manage, monitor, and control privileged access sessions.

• Privileged Elevation and Delegation: Making the removal of admin privileges and whitelisting of trusted applications achievable across all endpoints.

• Audit and Compliance: Record and track all privilege access across your environment.

“The combination of Avecto’s and Bomgar’s technology will enable companies to quickly and easily automate critical PAM capabilities while also improving end-users’ ability to do their jobs and support the business,” said Mark Austin, co-founder and co-CEO of Avecto. “We’re thrilled to join the Bomgar family and jointly lead the market in developing solutions that address today’s most pervasive and dangerous challenges.”

“It’s exciting to be joining a company that genuinely cares as much as Avecto does about its employees, customers, and partners,” said Paul Kenyon, co-founder and co-CEO of Avecto. “The combination of our teams will not only ensure Avecto’s customers and partners continue to receive the stellar service and support that is a hallmark of our business, but also benefit from the additional solutions and capabilities that Bomgar brings to the table.”

Terms of the transaction, which is expected to close July 31, 2018, will not be disclosed. For more information, please visit www.bomgar.com. Results International acted as exclusive financial adviser to Avecto.

About Bomgar

Bomgar’s secure access solutions enable customers to easily support people, access and protect endpoints, and defend privileged credentials to fight cyber threats and speed business performance. More than 15,000 organizations around the globe use Bomgar to deliver superior support services and reduce threats to valuable data and systems. Bomgar clients include some of the world’s leading IT outsourcers, systems integrators, software vendors, healthcare organizations, government agencies, universities, financial institutions, and retailers. Bomgar is privately held with offices in Atlanta, Jackson, Washington D.C., Frankfurt, London, Paris, and Singapore. Connect with Bomgar at www.bomgar.com, the Bomgar Blog, or on Facebook, Twitter and LinkedIn.

About Avecto

For organizations seeking to prevent breaches without hindering productivity, Avecto Defendpoint combines best-in-class privilege management and application control software, making admin rights removal simple and scalable across desktops and servers to ensure compliance, security, and efficiency.

Since 2008, the company has enabled over 8 million users across the world’s biggest brands and most highly-regulated industries to successfully work from the safety of standard user accounts while enjoying the flexibility of admin accounts.

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EQT to sell its stake in Sportradar to consortium of CPPIB and TCV

eqt

  • EQT VI to sell its stake in Sportradar, the global leader in understanding and leveraging the power of sports data, to a consortium of CPPIB and TCV in transaction valuing Sportradar at EUR 2.1bn
  • During EQT VI’s investment period, Sportradar has grown significantly, both organically and through add-on acquisitions, with continuous innovation and development of its product offering across the value chain as well as expansion into new geographies
  • EQT VI will reinvest a portion of the sale proceeds into Sportradar alongside Carsten Koerl, CPPIB, TCV and other minority shareholders

EQT VI has entered into a definitive agreement to sell its 35% stake in Switzerland-based Sportradar AG (“Sportradar” or the “company”) to a consortium consisting of CPPIB (Canada Pension Plan Investment Board) and Silicon Valley-based investor Technology Crossover Ventures (TCV) in transaction valuing Sportradar at EUR 2.1bn (~USD 2.4bn).

Sportradar is the global leader in understanding and leveraging the power of sports data, uniquely positioned at the intersection of sports betting and digital entertainment. Founder and CEO Carsten Koerl will continue to lead the business as CEO and will become controlling shareholder following completion of the transaction.

EQT first invested in Sportradar in 2012 via the EQT Expansion Capital II fund which sold its stake to EQT VI in 2014. During EQT’s investment period Sportradar’s annual sales grew at a compound annual growth rate of more than 40% per year to approximately EUR 300 million during the most recently completed twelve-month period. In the same period, Sportradar increased its headcount by 1,400, a rate of 25% per year.

With the support of EQT, Sportradar expanded and diversified its product offering by adding services such as audiovisual and managed trading services. Additionally, Sportradar entered into exclusive strategic partnerships with all key US sports leagues (NBA, NFL and NHL) as well as UEFA and FIFA, whilst at the same time strengthening its organizational structures and processes.

Sportradar also expanded via several add-on acquisitions and secured a strategic investment by Revolution Growth which led to the formation of dedicated US advisory board comprising Ted Leonsis, Mark Cuban and Michael Jordan. The strong focus on the US market over recent years has positioned Sportradar well to capture the significant growth potential from the opening of the US sports betting market.

Dominik Stein, Partner and Head of the TMT sector team at EQT Partners and Investment Advisor to EQT VI, says: “Sportradar has undergone an extraordinary transformation and is today a true global market leader in the sports data and digital content solutions space. The management team – led by Carsten – has done a fantastic job in driving the business towards the strategic vision that formed the basis for the partnership between Carsten and EQT. We are convinced that CPPIB and TCV will be great partners to drive the strategic agenda for the future and EQT is excited to maintain a minority stake in the company.”

Carsten Koerl, founder and CEO of Sportradar, adds: “Working with EQT over the last six years has been an exciting journey and the tremendous growth of Sportradar is the best testimony for the success of this partnership. EQT has been a great partner supporting Sportradar in its globalization and diversification as well as the development towards the global leader in its market. Now, the management team and I are excited to drive Sportradar to the next level together with CPPIB and TCV and are excited to retain EQT as a minority shareholder in the company.”

The transaction is subject to approval from the relevant authorities and is expected to close in Q4 2018.

Contacts
Dominik Stein, Partner and Head of the TMT sector team at EQT Partners, Investment Advisor to EQT VI, +49 89 255 499 508
EQT Press office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Sportradar
Sportradar is the leading global provider of sports data intelligence. The nexus between sports and entertainment, the company serves leagues, news media, consumer platforms and sports betting operators with deep insights and a suite of strategic solutions to help grow their businesses. Sportradar is the trusted partner of more than 1,000 companies in over 80 countries and serves as the official partner of the NBA, NFL, NHL and NASCAR as well as FIFA and UEFA. It is also the only provider entrusted to work with the US sports leagues in an official capacity to distribute sports data (NBA and NHL) and AV rights (MLB) around the world for betting purposes. The company monitors and delivers insights from more than 400,000 matches annually across 60 sports categories, having developed the industry’s most proficient software while setting new standards for speed and accuracy. With deep industry relationships, Sportradar is not just redefining the sports fan experience; it also safeguards the sports themselves through its Integrity Services division and advocacy for an integrity-driven ecosystem that is fair to partners, players and fans.

More info: www.sportradar.com

 

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Our investment in Lime: Maximising micro-mobility

Atomico

Today, we’re delighted to announce our investment in Lime. Led by co-founders Brad Bao and Toby Sun, Lime is an organisation driving behavioural change at mass scale and lightning speed.

We set out to back founders who can address the world’s biggest challenges, and improve the way we live. Moving more people more frequently, decongesting cities, and improving air quality for those who live there, are certainly monumental challenges. Lime’s e-bikes and scooters tackle them in a sustainable, affordable, and convenient way.

At Atomico, as mobility continues to be disrupted, we are looking to back multiple solutions – especially if consumers love it and it is better for the city too. One of those areas is micro-mobility.

 

The ability to unlock, jump on and off Lime’s distinctive electric scooters anywhere is already delighting city-dwellers in over 70 locations across the US. In San Francisco, each of the company’s scooters is used an average of nine times a day.  It is clear the ‘form factor’ of the electric scooter is going to be a hit for shorter journeys where ride-hailing, public transport or even walking is not quite right.

The team has ambitious plans for European expansion, and we are proud to be their European investor as they scale to our continent. We’re joining the deal with other global investors GV, Andreessen Horowitz and Uber, whose excitement for Lime we share.

This is the ideal juncture for Atomico to partner with Lime. In the last decade, we’ve developed Atomico into a platform for sharing operational experience with our portfolio companies. We’re privileged to work with Brad and Toby, and excited to put our hard-won experience to work for Lime.

 

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EQT acquires Saxo Payments Banking Circle

eqt

  • EQT VIII and EQT Ventures, in partnership with Saxo Payments Banking Circle’s founders and other co-investors, to acquire Saxo Payments Banking Circle
  • Saxo Payments Banking Circle’s unique banking platform enables cross-border payments with reduced complexity, time and cost
  • EQT to support Saxo Payments Banking Circle’s continued growth by leveraging the entire EQT platform, including around 25 years of experience in future-proofing companies as well as accelerating hyper-growth businesses, deep TMT expertise, and a global industrial network

The EQT VIII fund (“EQT VIII”) and EQT Ventures fund (“EQT Ventures”) (jointly “EQT”) have together with company founders and other co-investors entered into an agreement to acquire Saxo Payments Banking Circle (“Banking Circle” or “the company”) from Saxo Bank A/S and other minority owners. EQT VIII will have the majority ownership.

Founded in 2013, Banking Circle is a next-generation provider of mission-critical infrastructure for online cross-border payments. Today, Banking Circle is processing around EUR 60 billion run-rate annual payment volumes for several high-profile customers using direct clearing access through partnerships with blue-chip partner banks. The global cross-border payments market is driven by an increasing need for faster and less costly payments, compliance, and transparency, resulting in one of the fastest growing segments within the payments ecosystem.

EQT will support the continued acceleration of Banking Circle’s growth strategy, in current and new geographies, as well as the expansion of the product portfolio. Through EQT, Banking Circle will get access to both operational and financial resources to drive innovation and investments in technology development and talent acquisition. The company will also be able to leverage the entire EQT platform, including deep TMT sector expertise, local presence and EQT’s global network of Industrial Advisors. Banking Circle’s current management team, including founders and co-CEOs Anders la Cour and Laust Bertelsen, will continue to lead the organization, building on a strong track record of growth.

“We are proud of Saxo Payments Banking Circle’s development and growth. As investor and incubator, we have supported the company with our core competencies in foreign exchange as well as developing and managing global fintech solutions. It is not an easy task to build fintech solutions that create value and are long-term sustainable, but the company has done what few succeed in. We see EQT as the ideal partner for the next part of the journey and we are confident that Saxo Payments Banking Circle will thrive and continue its impressive growth trajectory. We look forward to continuing a close collaboration with the company and EQT, leveraging our technology and market access”, says Kim Fournais, founder and CEO of Saxo Bank.

Anders la Cour and Laust Bertelsen, co-CEOs at Banking Circle comment: “We would like to thank Saxo Bank for a great partnership and look forward to a close collaboration in the years to come. We are excited to partner with EQT. With their support, we will be ideally positioned to continue innovating to serve our customers even better and continue our rapid growth.”

“We have followed Banking Circle for several years and are impressed by the company’s management team and unique innovation capabilities. Saxo Bank and Banking Circle’s management team have built an innovative, secure, and highly automated platform to make competitive, faster, and more transparent payments across borders. EQT is looking forward to supporting Banking Circle and the management team on their continued growth journey and in building a leading global payments infrastructure player. The cooperation between EQT VIII and EQT Ventures enables Banking Circle to benefit from the full EQT platform”, says Mads Ditlevsen, Responsible Deal Partner and Partner at EQT Partners, Investment Advisor to the majority owner EQT VIII.

“We’re excited to partner with the entrepreneurs behind Banking Circle and support them in building the next generation infrastructure for cross-border payments,” says Hjalmar Winbladh, Partner at EQT Partners and Investment Advisor to EQT Ventures. “Cross-border payments is a large and rapidly growing market dominated by traditional players. Banking Circle has built a disruptive solution with a strong value proposition. The customer feedback is excellent and the company’s traction is evident looking at the triple digit growth of the business.”

The transaction is expected to close in Q4 2018, subject to approval from financial regulators.

Contacts
Mads Ditlevsen, Partner at EQT Partners, Investment Advisor to EQT VIII +45 2325 0158
Hjalmar Winbladh, Partner at EQT Partners, Investment Advisor to EQT Ventures +46 708 323286
EQT Press office +46 8 506 55 334
Banking Circle Press office (Harrison Sadler) +44 208 977 9132 bankingcircle@harrisonsadler.com

About Banking Circle
Banking Circle is a rapidly growing payments infrastructure platform that enables faster, competitive and more transparent payments clearing, reducing complexity relative to the traditional correspondent banking network. Today, Banking Circle has around 85 employees and is headquartered in Denmark, with offices in Denmark, Luxembourg and the UK. The company is processing around EUR 60 billion run-rate annual payment volumes for several high-profile customers using direct clearing access and partnerships with blue-chip partner banks.

More info: www.bankingcircle.com

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Saxo Bank
Saxo Bank Group (Saxo) is a leading Fintech specialist focused on multi-asset trading and investment and delivering ‘Banking-as-a-Service’ to wholesale clients. For 25 years, Saxo’s mission has been to democratize investment and trading, enabling clients by facilitating their seamless access to global capital markets through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its direct clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides wholesale institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology, supporting the full value chain delivering Banking-as-a-Service (BaaS).

Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide. Founded in 1992 and launching its first online trading platform in 1998, Saxo Bank was a Fintech even before the term was created. Headquartered in Copenhagen Saxo Bank today employs more than 1500 people in financial centers around the world including London, Paris, Zurich, Dubai, Singapore, Shanghai, Hong Kong and Tokyo.

More info: www.home.saxo

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Ardian partners with Wise to accelerate the development of Corob, a global leader in automation solutions for dosing and dispensing

Ardian

Paris, July 9th 2018. Ardian, a world-leading private investment house, today announces the signing of an agreement with Wise SGR to acquire a majority stake in Corob SpA, a global leader in the supply of automation solutions for dosing and dispensing in the chemical, paint, coatings and ink industries. Ardian will invest alongside Wise SGR and Corob’s senior management team to consolidate the repositioning of the company globally, maintain its technology leadership and accelerate Corob’s growth, both organically and through acquisitions.

Headquartered in San Felice sul Panaro (Modena, Italy), Corob supplies a wide range of high tech automation solutions used in the production and distribution of paints and coatings, inks and chemical substances worldwide, in addition to the related after-sales services. The current senior management team at Corob, led by President and CEO Fernando Bertoni, brings a wealth of strong global experience, and will continue to lead the company.

Corob was founded in 1984, introducing to the market the first automatic color dispensing system. In 2016 Wise SGR acquired 100% of the capital, and two acquisitions, in Canada and Southern Europe, have expanded the business by strengthening its industrial plants and after-sales service segments.

With more than 700 employees, 10% of which are employed in R&D, and a turnover of over €100 million, in addition to four  production and engineering centers in Italy, India, Canada and Finland and 14 commercial and services centers, Corob is the only player in the market able to combine a wide range of automation solutions with an excellent and widespread after-market service organization worldwide. 6% of the turnover is generated in Italy, 37% in the rest of Europe, Middle East and Africa, and the remaining 57% in America and Asia.

Ardian will work together with the management team in the growth strategy, both organic and through acquisitions, leveraging its international network. Well known for its strong presence in the point of sale market segment, the Company, supported by Ardian and Wise SGR, will accelerate its growth by investing in a further expansion of the industrial plants and the after-market services segments.

Fernando Bertoni, President and CEO of Corob, commented: “We are privileged at Corob to have the support and guidance of two of the best global investors in the world. The arrival of Ardian will allow us to accelerate the implementation of our international strategic business plan through additional investments in technology, people and execution capabilities. The partnership of Ardian and Wise and the involvement of the senior management in Corob’s capital is very important for our customers, employees and other key stakeholders, and materially strengthens the present and future of our superb franchise.”
Paolo Bergonzini, Managing Director and Head of Ardian Expansion in Italy, added: ”Corob is an excellent Italian company that already benefits from a strong worldwide appreciation for its highly specialized products. We will provide Corob with our experience and expertise and, together with the company and Wise, we will be able to bring out the full potential of this important Italian industrial company.”

Valentina Franceschini, Partner at Wise SGR, concluded: “We are very proud of how the company has grown in the last two years, both organically and through two acquisitions in 2017, and how we have contributed to the evolution of the group’s growth strategy through a new corporate leadership and, more generally, the strengthening of the management team. We have also laid a solid basis on which Corob can continue to rapidly grow, to serve customers with distinctive and individual solutions. Ardian’s entry is a great opportunity for Corob to further invest in its growth.”

ABOUT COROB

Headquartered in San Felice sul Panaro (Modena, Italy), Corob S.p.A. has been a world leader in the supply of high technology automation solutions for dosing and dispensing for 35 years. The Group supplies applications in the paint and coatings, inks and chemical industries, as well as providing the related after-sales services on a global scale, thanks to a capillary organization dedicated to management and maintenance.
Founded in 1984, Corob now has around 700 employees, 4 production and engineering centers, 14 commercial and after-sales service centers around the world. In 2017 turnover exceeded 100 million euro, of which only 6% was generated in Italy.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas 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 500 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

ABOUT WISE SGR

Wise SGR specializes in the management of Private Equity closed-end funds, investing in small and medium-sized companies, with a special focus on Italy. The funds managed by Wise are typically involved in Leverage Buy-Out and capital increase transactions, dedicated to companies that are leaders in their niche markets. The two major objectives are to lead “build-up” transactions, in order to enhance competitiveness and profitability, and to push the international development.
Wise, controlled by the management team, has currently two funds under management: Wisequity III, with commitment exceeding 180 M€, has three remaining companies in the portfolio: Colcom Group, NTC Controls, having already realized the investments held in Edos Media, Kijan, Primat, Biolchim and Alpitour. Wisequity IV closed the fund raising in March 2016 reaching its hard cap at 215 M€ and already invested the 50% of its own capital in five companies: Corob, Imprima, Tapì, Tatuus Racing and Aleph.
www.wisesgr.it

INVOLVED PARTIES

ARDIAN
Advisor to the Fund: Ardian Italy S.r.l. (Paolo Bergonzini, Marco Molteni, Michela Peigottu, Luca Sigismondi, Elisabetta Bozzoni)
M&A buyside advisors: Vitale&co (Riccardo Martinelli, Mariacristina Moro, Azzurra Bisogno)
Accounting: KPMG (Matteo Contini, Lorenzo Brusa, Riccardo Lettieri)
Business: Goetzpartners (Giovanni Calia, Filippo Cerrone)
Legal / Corporate: Gattai, Minoli, Agostinelli, Partners Studio Legale (Stefano Catenacci, Lorenzo Fabbrini)
Legal / Finance: Gattai, Minoli, Agostinelli, Partners Studio Legale (Gaetano Carrello)
Tax: Gitti and Partners (Diego De Francesco, Alberto Pallicelli), KPMG (Stefano Cervo)
Environment: Tauw (Milena Brambilla)
Banks: Unicredit (Giovanni Vasini, Lorenzo Longo)Wise SGR
Advisor to the Fund: Wise SGR S.p.A. (Valentina Franceschini, Davide Arrigoni)
Accounting: EY (Marco Ginnasi, Andrea Di Bella)
Business: Long Term Partners (Marco Occhetta, Simona Dossena, Lorenzo Colombo)
Legal: BonelliErede (Eliana Catalano, Augusto Praloran, Giorgia Ferretti)
Tax: Studio Spada (Guido Sazbon, Bernando Porcellini)

PRESS CONTACTS

ARDIAN
Headland
Harriet Smith
Tel: +44 20 3435 7466
hsmith@headlandconsultancy.com
WISE SGR
Close to Media – società fondata da Elisabetta Neuhoff
Luca Manzato – luca.manzato@closetomedia.it – 02 70006237 – 335 8484706
Adriana Liguori – adriana.liguori@closetomedia.it – 02 70006237 – 345 1778974
Lucrezia Martinoli – lucrezia.martinoli@closetomedia.it – 02 70006237

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HQ Equita acquires r2p and Open Access to build a leading player in the fast-growing market for intelligent digital public transport solutions

HQ Capital

Bad Homburg, 9 July 2018. HQ Equita Beteiligungen V GmbH & Co. KG, advised by HQ Equita GmbH (“HQ Equita”), has signed an agreement with the Swedish investor Alder Fund I AB (“Alder”) to acquire a majority stake in r2p GmbH (“r2p”), based in Flensburg. Simultaneously, HQ Equita will acquire Open Access Pty Ltd (“Open Access”) based in Sydney, to become a subsidiary of r2p, thereby extending the group’s global reach to Australia, Southeast Asia, and North America.

Founded in 2009 with headquarters in Flensburg, r2p is a rapidly growing technology group in the intelligent transport market, which develops both proprietary hard- and software, offering products and components for use in moving vehicles, stations and control centres. Alder, a Sweden-based growth investor, which focuses on majority investments in the sustainable technology sector, acquired r2p in 2012. Since then, r2p has made several add-on acquisitions in Denmark and the UK and has founded subsidiaries in Brazil and Switzerland, resulting in a competitive international presence. The current setup is enhanced by a close co-operation with Open Access, an Australian provider of technology and solutions for integrated passenger information and audio communication systems, active throughout Australia, Southeast Asia and through partners in North America. Upon closing of the transaction, HQ Equita will combine and integrate r2p and Open Access into one group to realise the untapped cross-selling potential arising from the two companies’ complementary product portfolios, applications and geographies. The combined group also seeks to become an active industry consolidator – aiming to acquire complementary technology and product solutions and to further increase its global delivery and service capabilities.

The management teams of both r2p and Open Access remain significant shareholders and are committed to growing the company further through active management and development of the group.

Henrik Flygar, Partner at Alder, says: “We have worked closely with r2p to build a strong international platform. With HQ Equita we have found a new owner for r2p, who has the necessary financial resources and network to continue to drive the group’s organic and inorganic growth. r2p will certainly benefit from HQ Equita’s sector expertise.”

Ulrik Rasmussen, CEO of r2p, adds: “With HQ Equita as our new owner, we will be able to consolidate the existing group, and build the required structures to accommodate further growth. The entire r2p management team is highly committed to further developing the group into a leading provider of intelligent transport solutions.”

Brendan Dooley, CEO of Open Access explains: “Open Access and r2p align well with respect to geographical coverage, technology and management experience. The merged group is well positioned to deliver compelling integrated solutions to the market. We look forward to working closely with HQ Equita.”

Hans J. Moock, Managing Director of HQ Equita, emphasizes: “The underlying intelligent transport market is expected to continue to grow at attractive double-digit rates in the next years. With the acquisition of r2p and Open Access, we seize the opportunity to participate in this promising growth case close to and overlapping with a product market we know well from our previous investment in MEN Mikro Elektronik. r2p’s integrated solutions portfolio and its cutting-edge technology combined with an extraordinary management team makes this acquisition an ideal platform for future inorganic growth.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for mid-July.

HQ Equita was supported in the transaction by the following advisors: DC Advisory (M&A, Debt Advisory), Gleiss Lutz (Law, Sales Contract, Taxes), civity Management Consultants (CDD), Rödl & Partner (FDD), Aon (Insurance, W&I), ERM (Environment, ESG).

Alder was supported in the transaction by the following advisors: Lincoln International (M&A), Deloitte (Finance, Taxes), White & Case (Law, Purchase Agreement).

About r2p

Headquartered in Flensburg, Germany, r2p is a globally active provider of IP-based system solutions for public transport covering communication, security and monitoring applications. The fully integrated portfolio of hard- and software products for passenger and fleet flow management r2p offers include CCTV, Passenger Information Systems (PIS), Passenger Announcement (PA), passenger counting, infotainment and fleet management with real-time data transfer and analysis for rail and road vehicles. The group has a network of subsidiaries in Denmark, the UK, Switzerland and Brazil. r2p currently employs around 117 people.  For further information, please refer to www.r2p.com

About Open Access

Headquartered in Sydney, Australia, Open Access primarily provides solutions for integrated passenger information and audio communication systems in the public transportation space. The group has a subsidiary in Kuala Lumpur, Malaysia, and employs c. 53 people. It is primarily active in Australia, Southeast Asia and through partners in North America. For further information, please refer to www.oa.com.au

About Alder

Alder is a Swedish growth investor within the sustainable industry sectors focused on investments in proven and established companies with strong growth potential. Alder currently manages investment funds with committed capital of approximately EUR 200 million. For further information, please refer to www.alder.se

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Adelis acquires Didriksons

Adelis Equity

Didriksons has grown significantly in recent years and strengthened its position as one of the leading brands for rain- and functional wear in Scandinavia. To support the continued growth journey of the company, Adelis Equity Partners is acquiring a majority stake in Didriksons from a fund managed by Herkules Capital. Management will continue in their present roles and as significant owners in the company.

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is a leader in Scandinavia within rain- and functional wear, and produces functional, durable and well-designed garments for women, children and men. The growth in recent years has been driven by expansion in new geographic markets and e-commerce. Didriksons is currently sold in more than 19 countries with a third of sales coming from online channels, and has a turnover of around SEK 500 million.

”Didriksons has gone through an expansive period, where we have successfully grown in the Nordics and internationally, through considerable investments in product development and a strengthened customer offering. We are pleased to have Adelis as a new majority owner to support us in the next step of our exciting growth journey. Adelis has a strong network and extensive experience of developing Nordic brands and consumer goods companies. This makes them a strong partner for us, which will be valuable when we continue to implement our growth strategy,” says Johan Ekeroth, CEO of Didriksons.

”With its strong brand offering based on functionality and timeless design, and its niche position within rain- and functional wear, we see strong potential for continued growth for Didriksons. We are impressed by the company’s management and the strong development in the Nordics and in other European countries. We are looking forward to supporting Didriksons’ growth and developing the company together with management,” says Lene Sandvoll Stern at Adelis.

In connection with the transaction Mats Hedblom, former CEO of Haglöfs, will join the new board of directors.

The parties have agreed not to disclose the terms of the transaction. The transaction is subject to customary regulatory approvals.

For further information:

Didriksons: Johan Ekeroth, johan.ekeroth@didriksons.com, +46 706 54 32 48

Adelis Equity Partners: Lene Sandvoll Stern, lene.stern@adelisequity.com, +46 702 81 34 24

About Didriksons

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is one of the leading brands in Scandinavia within rain- and functional wear for the entire family. Didriksons’ turnover is around SEK 500 million, and its products are sold in more than 19 countries with one third of sales coming from online channels. For more information please visit www.didriksons.com.

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 16 platform investments and making more than 40 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

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