Tesi exits semiconductor equipment company Picosun

Tesi

Picosun Oy has been acquired by Applied Materials, Inc., the leader in materials engineering solutions for semiconductors and advanced displays.

Based in Espoo and Masala, Kirkkonummi in Finland, Picosun is an innovator in atomic layer deposition (ALD) technology, primarily for specialty semiconductors. Picosun’s operations will continue in Finland as part of Applied Materials’ ICAPS (IoT, Communications, Automotive, Power and Sensors) group.

Prior to the acquisition, Picosun’s principal owner was Stephen Industries, Kustaa Poutiainen’s family office. Picosun’s other previous owners included R.Ruth Oy and Hannu Turunen, and more. Additionally, CapMan Growth Fund, First Fellow Partners and Tesi (Finnish Industry Investment Ltd) joined during the previous financing round in 2019. Dr. Tuomo Suntola, the recipient of the 2018 Millennium Technology Prize for his invention of ALD technology, was also an owner.

It is truly wonderful to witness how Picosun, and with it a significant Finnish invention, will henceforth be part of a global leader in the semiconductor industry. The transaction also demonstrates the strength of Finnish tech know-how as well as the country’s attractiveness for investment. Although Tesi exists the investment, we are excited to see Picosun’s journey enter a new growth phase,” comments Miikka Salminen, Investment Manager at Tesi.

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Additional information:
Miikka Salminen, Investment Manager, Growth and Industrial Investments
miikka.salminen@tesi.fi
+358 40 535 4758

 

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi @TesiFII

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Nordic Capital sells its majority holding of industry service provider Quant

Nordic Capital

Nordic Capital has sold its majority shareholding of the multinational maintenance service provider Quant AB (publ) (“Quant”) after supporting the company through an extensive transformation as an active and responsible owner for a period of six years. Permira Credit is now Quant’s majority shareholder as the company enters the next phase of its journey.

Nordic Capital Fund VIII acquired Quant, formerly known as ABB Full Service, as a carve-out from the ABB Group in 2014. This marked the start of an extensive transformation process and creation of a strong independent company within industrial maintenance under the name Quant. During Nordic Capital’s six years of ownership, Quant has sharpened its geographical focus, streamlined its organisation, and developed a multinational contract portfolio that is growing. Today, Quant is a leading service provider in industrial maintenance, maintaining and improving of safety, production and equipment performance around the world.

Quant is now ready to enter the next phase of its development and to continue to deliver on its strategy. Following today’s completion of the sale, Permira Credit is Quant’s new majority shareholder, and Nordic Capital will remain as a minority shareholder.

The terms of the transaction are not being disclosed.

 

Press contact:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: 08-440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Quant

Quant is a leading multinational maintenance service provider, maintaining and improving the safety, production and equipment performance for over 400 facilities around the world. The company offers maintenance services within a wide range of industries, including pulp and paper, mining and minerals, chemicals, food and beverages. The core of Quant’s value proposition consists of improving safety, creating organizational equity, driving plant performance, and cost alignment. The approach is to view the maintenance function as a profit contributor, and not as a cost center, with Quant as the partner driving this transformation. Quant has more than three decades of experience, 2 400 employees and is headquartered in Stockholm, Sweden.

About Nordic Capital
Nordic Capital is a leading private equity investor 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 long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 20 billion in over 125 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total assets under management of €60bn+ and makes long-term majority and minority investments across two core asset classes, private equity and credit.
Permira Credit is one of Europe’s leading specialist credit investors, supporting businesses with flexible financing solutions across Direct Lending, CLO Management and Structured Credit. Established in 2007, the firm advises investment funds and products which have provided more than €14bn of debt capital to over 300 European businesses.
Permira employs over 450 people in 16 offices across Europe, the United States and Asia. For more information, visit www.permira.com.

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AnaCap signs agreement with Nets, part of Nexi Group, for the acquisition of its digital invoice distribution and bill payment solutions business EDIGard

Anacap
  • EDIGard is a leading pan-Nordic end-to-end SaaS platform covering the full bill payments ecosystem for enterprises and SMEs
  • AnaCap to back ambitious entrepreneurial management team to drive further growth in additional European jurisdictions

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled companies across financial and related business services, today announces that it has signed an agreement with Nets, part of Nexi Group, for the acquisition of its pan-Nordic digital invoice distribution platform and bill payment solutions business EDIGard AS (“EDIGard”).

EDIGard is headquartered in Norway and operates across Sweden, Denmark, Finland, UK and Germany. It comprises the EdiEX branded platform and is part of Nets Issuer & eSecurity Services umbrella. The decision to sell EDIGard resulted from a strategic review of the Nexi Group’s perimeter following the completion of the mergers with Nets and SIA.

EDIGard’s software platform ediEX, is an end-to-end invoicing platform that is strongly integrated with clients’ enterprise resource planning (“ERPs”) and accounting software. It enables customers to optimise the invoicing process as a whole whilst also providing wider services such as payment service provider (“PSP”) integration, payment reminders and invoice reconciliation.

EDIGard strategically focuses on addressing the invoicing requirements of large enterprises such as banks, utilities, debt collection (low-ticket, high volume, recurring invoices) whilst also serving local SMEs via its partner network.

Tassilo Arnhold, Partner & Alberto Sainaghi, Investment Director at AnaCap, commented: 

“We are delighted to sign an agreement for EDIGard and partner with this already strong management team that in recent years has achieved impressive growth across the Nordics. We strongly believe that the business aligns with a number of AnaCap’s core strengths including the continuous demand for the adoption of tech-enabled and digitalisation processes, new payment integration methods and a general focus on the broader invoicing ecosystem.”

Rune Løbersli, Chief Executive Officer at EDIGard, concluded:

“EDIGard has great scope to continue its recent successes and evolution across the Nordics and further internationalise its offering into additional European jurisdictions. We have found in AnaCap the right partner to continue this expansion given their impressive track record in building businesses with high growth potential in tech-enabled financial services and its activity in the payments sector across Europe more broadly.”

Jun 16 2022

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3i invests in Digital Barriers to drive international growth, accelerate new channel sales and further develop its unique technology

3I

3i Group plc (“3i”) announces that it has agreed to invest in Digital Barriers, a leading provider of IoVT (Internet of Video Things) surveillance and security products. 3i is investing alongside existing investor, Volpi Capital LLP, who will maintain a minority stake in the business.

Headquartered in the UK with offices across the US and Europe, Digital Barriers’ unique video compression technology allows live streaming over low-bandwidth environments, including cellular body worn cameras, and an ever growing set of commercial applications. When coupled with its cloud-based, video management platform Digital Barriers is able to provide an end-to-end solution incorporating a wide range of AI-based operational, safety and business intelligence analytics – the only such cloud video platform that works as effectively on cellular as on fixed networks.

The company has been a trusted partner to leading law enforcement, intelligence and defence agencies around the world for many years and will continue to serve this market. Working closely with Intel, Digital Barriers has leveraged its unique IP to develop commercial off-the-shelf products that are now being sold by blue chip telecom and security partners such as AT&T, Vodafone, Fujitsu and G4S to a wide range of commercial and public sector customers across various end-markets.

The partnership with 3i will enable Digital Barriers to accelerate its international expansion, invest further in its unique technology, significantly grow its go-to-market capabilities to support its channel partners and pursue targeted acquisitions to build out its differentiated solution.

David Stephens, co-Head of 3i’s UK Private Equity team, commented: “Digital Barriers provides a highly attractive market and growth opportunity with a strong executive team, led by Zak Doffman. The video surveillance industry is at an inflection point with a shift towards live-streaming, growing cloud adoption and increased analytics enabling greater scalability and opening up more commercial applications. Digital Barriers’ unique technology positions it at the forefront of this movement and we look forward to supporting Zak and the team as they continue to build on the company’s strong relationships with blue chip partners and expand their global operations.”

Zak Doffman, CEO of Digital Barriers, said: “We are delighted to be partnering with 3i and benefiting from their expertise and global reach as we expand our offering with new products, move towards a subscription-based model and broaden our customer base, whilst continuing to provide a highly differentiated product and market-leading technology. We have now made live video over cellular networks a reliable and affordable reality for the first time – working with 3i and our new channel partners we can take these disruptive solutions out much more widely.”

The transaction is conditional upon certain regulatory approvals and is expected to complete in Q3 2022.

For further information, contact:

3i Group plc

 

Silvia Santoro

Investor enquiries

 

Kathryn van der Kroft

Media enquiries

 

 

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

 

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

About 3i Group

3i is a leading international investment manager focused on mid-market private equity and infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Digital Barriers

Digital Barriers is a leading provider of IoVT (internet of video things) surveillance and security products. Headquartered in the UK with regional offices in the US, Europe and Asia-Pacific, Digital Barriers has developed a trusted global customer-base spanning industries such as defence and national security, law enforcement, border security, first responders, critical national infrastructure, transportation agencies, automotive and mobility and private security in over 60 over countries.

Regulatory information

This transaction involved a recommendation of 3i Investments plc.

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Sole Source Capital Portfolio Company Worldwide Produce Acquires Valley Food Services

Sole source captial
Transaction Marks Second Acquisition by Worldwide in Three Months, and Fourth Since Being Acquired by Sole Source CapitalDALLAS–Sole Source Capital LLC, an industrial-focused private equity firm, today announced that its portfolio company, Worldwide Produce, one of the largest fresh produce and dairy distributors on the West Coast, has acquired Valley Food Services (“Valley”), a premier foodservice distributor of fresh produce and dairy serving the Coachella Valley market. The acquisition of Valley strengthens Worldwide Produce’s presence in the Coachella Valley and marks the company’s second acquisition in the past three months. This is also the fourth completed acquisition for Worldwide Produce since it became a Sole Source Capital portfolio company in 2019. Terms of the transaction were not disclosed.

Established in 2001 and headquartered in Banning, CA, Valley Food Service sells primarily to the foodservice end market. The company offers a full suite of fresh produce and dairy products, including avocados, leaf lettuce, tomatoes, and citrus.

“Valley Food Services allows Worldwide to continue to expand into one of the region’s premier luxury destinations, the Coachella Valley,” said Todd Ferguson, CEO of Worldwide Produce. “Worldwide’s operational and product sourcing expertise, combined with Valley’s physical proximity to and focus on the Coachella Valley, will allow both companies to continue to provide unparalleled service for our customers.”

“We are excited to join one of the largest independent foodservice distributors in Southern California,” said Martin Parra, founder of Valley Food Services. “Valley will no doubt benefit from Worldwide’s scale, focus on operational excellence, and grower relationships. We look forward to continuing to provide quality products at excellent prices to the desert communities we have served for the past 20+ years.”


About Sole Source Capital

Founded in 2016 by David Fredston, Sole Source Capital is a private equity firm that thematically invests in fragmented, high-growth industrial subsectors. Sole Source seeks founder-owned businesses or corporate carve-outs that will benefit from the team’s operating and M&A capabilities. The Firm has a strong operating heritage that enables it to execute a buy-and-build strategy with significant downside protection. The Firm is headquartered in Dallas, Texas with offices in Santa Monica, California. For more information, please visit www.solesourcecapital.com or contact investor.relations@solesourcecapital.com.


About Worldwide Produce

Worldwide Produce is a leading distributor of fresh fruits, vegetables, dairy products, and specialty foods to foodservice and retail customers across the Western United States. The company operates out of five distribution facilities located in Los Angeles, CA, Las Vegas, NV, San Diego, CA and Phoenix, AZ and stocks roughly 5,000 SKUs. Worldwide Produce was founded in 1989 and has rapidly grown its revenue base due to its high-quality produce, superior service levels, dependable sales team, and high-quality leadership. For more information, please visit www.wwproduce.com.


About Valley Food Services

Founded in 2001, Valley Food Services is a distributor of fresh produce to the Coachella Valley region. The Company sells primarily into the foodservice end market and offers a full suite of fresh produce and dairy.


Contacts

Media:
Bill Mendel
Mendel Communications LLC
(212) 397-1030
bill@mendelcommunications.com

Sole Source Capital:
Sumil Menon
Head of Investor Relations
investor.relations@solesourcecapital.com

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Agape Care Group Acquires Hospice of the Carolina Foothills

Ridgemont Equity Partners

SPARTANBURG, SC, June 15, 2022 – Agape Care Group (Agape Care), a portfolio company of Ridgemont Equity Partners and a leading hospice and palliative care provider in the Southeast, today announced the acquisition of Hospice of the Carolina Foothills based in Forest City, North Carolina. With the addition of Hospice of the Carolina Foothills to its portfolio, Agape Care now offers hospice and palliative care in three states. Regionally, the company provides care in all 46 counties of South Carolina and more than two thirds of the counties in Georgia. Agape Care has a total of 1,300 employees caring for more than 2,600 patients across its footprint.

Hospice of the Carolina Foothills has offered hospice and palliative care to the North Carolina region for almost 40 years, starting in 1982 as the non-profit, Hospice of Rutherford County. The SECU hospice house opened in 2004 and currently remains a staple of care in Rutherford County with 10 inpatient and eight residential beds. Serving eight counties, Hospice of the Carolina Foothills is known for its longstanding community service and support.

“We welcome the Hospice of the Carolina Foothills team to the Agape Care family. There is a natural fit, culturally and geographically, between our two companies,” said Troy Yarborough, Chief Executive Officer of Agape Care Group. “Hospice of the Carolina Foothills is an established name in the region, and we admire their long-standing commitment to providing the highest level of compassion and care for members of their community.”

“Agape Care’s values and purpose for patients and employees are in alignment with the future we have envisioned for our company and team,” said Rita Burch, Chief Executive Officer of Hospice of the Carolina Foothills. “The rich history and mission of our company in this market will continue with Agape Care.” Pat Keeter, Board President, added, “As we entrust our patients, family members and employees to Agape Care Group through this acquisition, I am confident they will be true to the legacy and mission of Hospice of the Carolina Foothills and serve our communities well.”

Hospice of the Carolina Foothills will continue to operate under its current name and brand. Terms of the transaction were not disclosed.


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Gimv strengthens its position in life sciences venture capital with the creation of a new dedicated platform

GIMV

Topic: Other

  • Carve-out of new Life Sciences platform from Gimv’s existing Healthcare platform
  • Builds on Gimv’s more than 40 years’ experience of successful investment in the sector
  • Ambition to grow the life sciences VC portfolio to around 20 companies, from 12 today
  • In line with Gimv’s commitment to continue to invest in innovative research and build value for society, patients and shareholders
  • Bram Vanparys* appointed Managing Partner, Head of Life Sciences

Antwerp, Belgium – 15 June 2022: Gimv (Euronext – GIMB) a European investment company, listed on Euronext Brussels, with 40 years of experience in private equity and venture capital, announces the creation of its fifth investment platform with a focus on venture capital investments in innovative life sciences companies.

After solid growth within Gimv’s existing Healthcare platform, a dedicated Life Sciences platform will strengthen the role of Gimv in the international life science VC ecosystem. The key investment focus remains to look for solutions to the many unmet healthcare needs.

The Life Sciences platform builds on the success and excellent returns generated by portfolio companies over four decades, including companies like Ablynx, where Gimv was a founding investor and Covagen, which was acquired by Johnson & Johnson. Current investments include Precirix, ImCheck, and ImmunOs, which recently raised $74 million in a Series B round led by Gimv.

With this new platform, Gimv can further strengthen its capacity to invest larger tickets, with a typical initial investment of €10-15 million per company. With the aim to almost double its current portfolio to around 20 companies, Gimv will retain its Series A and B investment strategy with a particular focus on drug development. Other investment areas will include medical technology, digital health, life science tools and agro-biotechnology.

Bram Vanparys*, who was a Partner in the Gimv Healthcare Platform, has been appointed to lead the new team of seven dedicated life science venture capital professionals, which will be further expanded over the coming years.

Koen Dejonckheere, Chief Executive Officer of Gimv, commented: “In addition to our four existing investment platforms Sustainable Cities, Smart Industries, Consumer and Healthcare, our newly launched Life Sciences platform will enable us to build on the strong track record of Gimv in Life Sciences investments. Additionally, it will help strengthen our position at the forefront of the European life science ecosystem, which is acknowledged globally for its innovation and excellence in developing lifesaving therapeutics.”

Bram Vanparys*, Managing Partner and Head of Life Sciences at Gimv, said: “The launch of the new Life Sciences platform represents an exciting next step for Gimv in the sector. We will be able to further focus our work on providing venture capital to companies with promising new therapies for patients. Together with the rest of the team, I look forward to this new chapter for Gimv.”

Bart Diels**, Managing Partner and Head of Healthcare at Gimv, added:After the establishment of a strong portfolio within the Healthcare platform, it is the right time to launch a targeted Life Sciences platform. Having a VC centered Life Sciences platform separate from a PE centered Healthcare platform allows more focus for both teams while preserving potential synergies. We’re convinced that our specialised approach, backed by an experienced team, is one of the core differentiators of Gimv’s investment strategy. I am proud of what we have achieved together over the past years and have great confidence in Bram and the team to further strengthen our Life Sciences franchise.”

 

Read the full document

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Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Northlane Capital Partners Invests in Infobase

Northlane

BETHESDA, Md.–(BUSINESS WIRE)–Northlane Capital Partners (“NCP”) announced today that it has made an investment in Infobase, a leading provider of cloud-based educational solutions, integrating content, tools, and technology to foster lifelong learning and deliver interactive learning experiences. NCP invested in partnership with the Infobase management team, led by CEO Paul Skordilis.

“We are thrilled to have the opportunity to partner with the Infobase team. We have known Paul for several years, and are excited to work alongside him and the rest of the Infobase management team as they continue to evolve the company into a leader in tech-enabled learning solutions.”

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Headquartered in New York, Infobase curates high-value content and uses its software platforms to deliver that content to students, educators, librarians, corporations, and parents. Its products are targeted primarily to the K-12 and higher education markets. Infobase has more than 160 employees and serves over 7,000 customers in the United States and internationally. Additional information is available at www.infobase.com.

“We are very excited to partner with NCP as we enter into the next phase of Infobase’s growth. NCP’s investment brings both capital resources and expertise to accelerate our company’s trajectory. NCP has an impressive track record of identifying and executing on acquisition opportunities, which will play a pivotal role in continuing to build upon our position as a leading player in the supplemental education market,” said Paul Skordilis, CEO of Infobase.

Justin DuFour, Partner at NCP, said, “We are thrilled to have the opportunity to partner with the Infobase team. We have known Paul for several years, and are excited to work alongside him and the rest of the Infobase management team as they continue to evolve the company into a leader in tech-enabled learning solutions.”

Sean Eagle, Partner at NCP, added, “Infobase fits directly into one of NCP’s key areas of focus within our business services vertical, training and education. We look forward to leveraging our experience to help accelerate the company’s organic growth and M&A initiatives.”

ABOUT NORTHLANE CAPITAL PARTNERS

Based in Bethesda, MD, NCP is a middle market private equity firm focused on key segments within the healthcare and business services sectors, where its principals have invested more than $1.6 billion of equity capital. NCP’s strategy is to partner with industry leading companies and great management teams, aligning incentives to accelerate growth and build value. For more information, please visit www.northlanecapital.com.

Contacts

NCP

Justin DuFour, Partner
(301) 841-1375

Sean Eagle, Partner
(301) 841-1377

Chase Edmonds, Vice President
(240) 319-4102

Kalpana Siva, Senior Associate
(202) 984-0504

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Transaction closed: Nordic Capital is the new majority owner of IoT and wearable disruptor ProGlove

Nordic Capital
  • ProGlove set to commence major software initiative and increase its market presence in new and existing geographies
  • New ownership will support ProGlove’s ambitious growth strategy with a focus on innovation and new applications

ProGlove, a leader in wearable barcode scanners, and Nordic Capital, a leading European private equity investor, today states that ​the transaction previously announced on May 4 has now been completed and Nordic Capital has become the majority owner of ProGlove.

Nordic Capital’s strategic investment will help ProGlove sustain its objectives to further enhance its entire product development, acquire new talent and accelerate its global expansion. ProGlove is a pioneer in wearable barcode scanners that are built upon a platform approach. The company’s technology improves human-machine collaboration by connecting shopfloor workers to the Internet of Things. This drives the digitalization across the shop floor to improve efficiency, throughput and worker well-being. ProGlove’s solutions are rapidly adopted in critical industries such as logistics, warehousing, post & parcel, retail, e-commerce and manufacturing.

The company’s latest innovations include a new multi-range barcode scanner, a new entry level product and new functionalities for its groundbreaking industry analytics solution Insight.

“Our knowledgeable staff works hard to redeem the opportunities in our growing market environment”, said Andreas Koenig, CEO for ProGlove. “Nordic Capital’s investment will help us drive key initiatives to sustain our ambitious goals. A first share of the investment is earmarked to fund new office locations in strategically important markets and to elaborate on a substantial extension of our software solutions. Along those lines we will focus on the analysis and the use of data to improve processes for organizations and workers alike.”

“The ProGlove team’s expertise and dedication are really inspiring and a great base for further growth”, added Andreas Näsvik, Partner and Head of Industrial & Business Services, Nordic Capital Advisors. “Nordic Capital is thrilled to support ProGlove’s further journey and to extend their offering in wearable barcode scanning.”

The investment in ProGlove has been made by Nordic Capital X. ProGlove’s founders and management will remain minority owners.

 

Press contacts: 
ProGlove
Axel Schmidt, Senior Communications Manager
T: +49-89262035036
e-mail: press@proglove.com

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About ProGlove

ProGlove is a World Economic Forum Technology Pioneer and builds the smallest, lightest, and toughest barcode scanners in the world. ProGlove’s industrial wearables connect the shopfloor worker to the Internet of Things. The wearables combined with ProGlove’s industry analytics software platform promote human-machine collaboration and drive the digitization across the shopfloor. ProGlove’s customers include some of the most iconic global industrial brands, pioneers and innovators in manufacturing and production, logistics and warehousing, retail and e-commerce, and post and parcel. Founded in 2014, the company employs more than 300 people from over 30 countries with offices in Chicago, Munich (Germany), and Belgrade (Serbia). Learn more at www.proglove.com.


About Nordic Capital

Nordic Capital is a leading private equity investor 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 long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 20 billion in over 125 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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Renta acquires L&E Maskin

IK Partners

Renta Group Oy (“Renta Group” or “Renta”) is strengthening its position in Sweden through the acquisition of Lars & Erik Maskin AB (“L&E Maskin” or “the Company”), one of the leading regional equipment rental companies in Northern Sweden. L&E Maskin has three depots located in Umeå, Lycksele and Sundsvall. The Company has more than 30 employees and generates revenues of approximately SEK 100 million annually.

With the acquisition, Renta will further strengthen its number three market position in Sweden and enter the northern region where it previously had no presence.

Network expansion in an attractive region

The acquisition is a step forward for Renta’s plan to build a nationwide rental network and following the acquisition Renta will have 50 depots across Sweden. L&E Maskin operates in fast-growing mid-sized cities which have a strong base of recurring demand. In addition, the region is attracting a significant amount of long-term infrastructure and industrial investments. Together with Renta, the Company is ideally positioned to benefit from growth opportunities in the region.

L&E Maskin’s local, entrepreneurial and customer-centric business model fits well with Renta. The Company has a good standing in the local market with a strong reputation within the industry and among customers. L&E Maskin will continue to serve its customers with the same local approach and high-quality services as before and further benefit from implementing Renta’s digital solutions.

Kari Aulasmaa, CEO of Renta Group, said:

“The acquisition extends our presence to the attractive northern region and furthers our ambition to build a nationwide network in Sweden. We are pleased to join forces with a profitable and growing company that shares our aspiration to provide excellent customer service locally. We are very happy to welcome the talented people of L&E Maskin to Renta.”

Lars Grehn, Co-founder of L&E Maskin, said:

“We are excited about the possibility to join Renta, a company that shares our values and vision. I am convinced that together with Renta and by continuing to operate our depots in the same spirit as before, we will become even stronger in our region.”

For more information, please contact:

ir@renta.com

or

Kari Aulasmaa, CEO Renta Group Oy
+358 40 511 6445
kari.aulasmaa@renta.com

Legal Disclaimer

This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including, without limitation, those regarding Renta or any of its affiliates’ future financial position and results of operations, their strategy, plans, objectives, goals and targets, future developments in the markets in which they participate or are seeking to participate or anticipated regulatory changes in the markets in which they operate or intend to operate. In some cases, these forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should,” or “will” or the negative of such terms or other comparable terminology.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and are based on numerous assumptions and that Renta or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this press release. In addition, even if Renta’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate, are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

 

About Renta Group

Renta Group Oy is a Finnish construction-machinery and equipment-rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark and Poland, with over 100 depots and more than 1,000 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a significant supplier of scaffolding and weather-protection services. For more information, visit www.renta.com

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About L&E Maskin

L&E Maskin is a machinery and equipment rental company based in Northern Sweden. The Company has more than 30 employees and three depots in Umeå, Lycksele and Sundsvall. L&E Maskin is a general rental company serving a broad customer base with a wide range of equipment and services.

Categories: News