Category Archives: News

Charterhouse Capital Partners announces investment in Amtivo

Charterhouse

Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, today announces that it has entered into an agreement to invest in Amtivo, a leading provider of accredited certification to companies in 27 countries.

Founded in 2017 and headquartered in London, Amtivo provides accredited certification, training and technology-enabled services, specialising in management system certification. Through its services, Amtivo helps to build high-performing, sustainable organisations that deliver for their customers, employees, investors and the communities in which they operate. The company has grown rapidly over recent years, through twelve acquisitions and like-for-like revenue growth of 15% year-on-year.

Charterhouse will work closely with Amtivo’s management team to help the business grow organically and continue its successful journey of acquisition-led growth.

Charterhouse is acquiring Amtivo from August Equity, a private equity firm investing in UK-based companies. As part of the transaction, August Equity will reinvest a part of its proceeds alongside Charterhouse and management, retaining a minority stake in the business.

James Cocker, Partner at Charterhouse, said: “Amtivo is one of the most exciting and distinctive businesses in the certification space, and benefits from an attractive market, highly effective operating model and an exceptional management team. We look forward to working with Mike and the team to support Amtivo’s continued growth during the next several years.”

Mike Tims, CEO of Amtivo, commented: “We have been grateful for August Equity’s expertise during our partnership and believe that our work has positioned Amtivo favourably for the next phase of our growth. We look forward to partnering with Charterhouse, whose impressive track record of transforming businesses will be invaluable as we embark on the next stage of Amtivo’s journey.”

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August Equity agree sale of Amtivo Group to Charterhouse Capital Partners

August Equity

August Equity is pleased to announce that it has reached agreement to realise its investment in Amtivo Group (“Amtivo”) to funds managed by Charterhouse Capital Partners LLP. Amtivo is a leading provider of accredited certification to companies across 23 countries. Since August formed Amtivo in 2018, the group has grown like-for-like revenues 15% year-on-year and has completed twelve acquisitions. As part of the transaction, August will reinvest alongside management and Charterhouse for a minority stake in the business.

August Partner David Lonsdale commented: “Amtivo is a fantastic business with an exceptional management team. The business is another example of August creating market leading platforms in resilient and fragmented markets which exhibit long term secular growth trends. We look forward to supporting the management team and Charterhouse on the next phase of Amtivo’s exciting growth plan.”

The August team was led by David Lonsdale, Kishan Chotai and Celine Henriksen. The exit represents August’s third exit in 2022 from August Equity Partners IV.

August were advised by Rothschild & Co (Corporate Finance), DLA Piper (Legal), OC&C (Commercial), KPMG (Financial & Tax), PwC (SPA advisory), Crosslake (Tech DD). Management were advised by Liberty Corporate Finance and DLA Piper.

Categories: News

MiddleGround Capital Acquires PVI Holdings, Inc.

Middleground

Lexington, KY, July 18, 2022: MiddleGround Capital, an operationally focused private equity firm that makes control investments in North American middle market B2B industrial and specialty distribution companies, is thrilled to announce it has acquired PVI Holdings (“PVI”).

PVI is a market leading flow control distributor focused on serving MRO applications across marine, chemical, downstream energy, and other industrial end markets. PVI provides both third party and proprietary branded products alongside its in-house engineering and repair services. PVI operates three separate business units: Setpoint Integrated Solutions, a distributor of valves, actuators, and instrumentation primarily to the chemical and downstream energy end markets; W&O Supply, a global distributor of technical flow control products and solutions to the global military and commercial maritime markets; and AT Controls, a designer and manufacturer of valves, actuators, and process control accessories for a broad range of industrial end markets.

MiddleGround Founding Partner Lauren Mulholland commented, “PVI represents an opportunity to carve out a market-leading flow control distribution platform. We are impressed by the success these businesses have realized to date and look forward to expanding on their growth as well as identifying incremental opportunities for the company’s expansion under our ownership.”

“We are thrilled to be adding a specialty distribution business to our portfolio. PVI serves as a critical link in its supply chain and is a true value-added partner to both its customers and suppliers. We are excited to partner with the PVI management team to invest in organic and inorganic growth initiatives that will continue to expand the company’s value proposition,” added Vice President Marty Sjoquist.

“It was a cultural fit from our first meeting, MiddleGround brings a unique style to private equity that has my team fired up about the future.” said Brad Bergeron, PVI CEO. “We value their operational
expertise, passion for continuous improvement, and believe they are the perfect owner for PVI’s next phase of growth.”

“We are so excited to work with such a talented management team to help invest and accelerate growth, while also developing a corporate structure for the company.  We look forward to working with PVI to identify and take advantage of synergies between the three divisions” remarked Founding Partner Scot Duncan.

Media Contacts:

Alyssa Castelli
212-883-3802

Alyssa.castelli@moelis.com

Categories: News

Eurazeo steps up its sustainable infrastructure investments

Eurazeo

Eurazeo is delighted to announce its investment in Electra, a French company specialising in fast charging for electric vehicle (EVs). Electra is the third investment made by Eurazeo’s infrastructure strategy, after Ikaros Solar (Belgian provider of photovoltaic solutions) and Resource (Danish plastic waste sorting facility). Electra is fully aligned with the Group’s ambition to invest in energy and digital transition infrastructure and contribute to a low-carbon economy. This investment will support the decarbonisation of the transport sector, avoiding CO2 emissions by 550,000 tons by 2026 and therefore contributing to Eurazeo’s carbon-neutrality objective.

Eurazeo led a €160 million fundraising round that included several other top-tier investors: RGREEN Invest, RIVE Private Investment, Serena, Groupe Chopard, SNCF (574 Invest) and RATP Group. It provides Electra with the required funding to support its rapid growth and achieve its objective: to accelerate its coverage of France and expand in Europe to provide fast charging solutions. Electra is the only fast charging specialist in France and will now have the means to compete with major European players.

The quality of its offering is underpinned by agreements signed with blue-chip partners from the retail, hotel, automotive and fleet management industries, such as AccorInvest, Altarea, Indigo, Louvre Hotels Group, Primonial REIM France and Groupe Chopard.

With the support of its new investors, Electra intends to play a leading role in increasing EV penetration in France and Europe. The company offers high-quality infrastructure supported by both its technological expertise and its roll-out experience.

Aurélien de Meaux, Electra’s CEO, said:

“This capital raise led by Eurazeo and backed by other blue-chip investors – RGREEN Invest, RIVE Private Investment, Serena, Groupe Chopard, SNCF (574 Invest) and RATP Group – will enable us to roll out our EV charging solution on a large-scale basis. Our main objective is to propose to end users a top-notch charging experience, combining the best infrastructure with state-of-the-art digital tools. In order to support EV penetration we must offer innovative solutions improving the customer experience. In addition, Electra’s team and I are proud and happy to support the transition to a low carbon economy.”

Melissa Cohen, Managing Director, Infrastructure, Eurazeo, added:

“We are thrilled to become a cornerstone investor in Electra, which is developing a public electric vehicle fast charging network. Electra will contribute by helping to remove barriers to the adoption of electric vehicles, building high-quality and efficient infrastructure, available to all. We have been impressed by Electra’s achievements so far. Its large and experienced team of EV charging experts and its differentiated product offering (hardware and software) allow for a smooth and efficient customer experience. The electrification of transport is a key pillar of the transition to Net-Zero, which is fully in line with our ESG and sustainability focus.”

About Eurazeo

  • Eurazeo is a leading global investment company, with a diversified portfolio of €32 billion in assets under management, including nearly €23.2 billion from third parties, invested in 530 companies. With its considerable private equity, venture capital, private debt as well as real estate and infrastructure asset expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 360 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
  • Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg, Shanghai, Seoul, Singapore and Sao Paulo.
  • Eurazeo is listed on Euronext Paris.
  • ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

EURAZEO CONTACT

Pierre BERNARDIN

DIR. RELATIONS INVESTISSEURS

+33 (0) 1 44 15 16 76

Virginie CHRISTNACHT

DIRECTRICE DE LA COMMUNICATION

+33 (0) 1 44 15 76 44

PRESS CONTACT

David Sturken

MAITLAND/AMO

+44 (0) 7990 595 913

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NielsenIQ and GfK to combine, creating a leading global provider of information and analytics in consumer and retail measurement

KKR
  • Combination brings together two complementary global leaders serving retailers and brands to provide extensive retail and consumer information through a total store read and state-of-the-art technology
  • Creates a leading provider of retail and consumer measurement data with strengthened omnichannel measurement capabilities
  • Combined company will have an unmatched global footprint and industry coverage, creating a strong platform to deliver innovative client solutions and opening new opportunities for growth
  • Advent International (“Advent”) will be the majority shareholder in the combined company, while Nuremberg Institute for Market Decisions (“NIM”) and KKR will remain invested as significant shareholders in the combined company

 

 

Chicago, USA and Nuremberg, Germany – July 1, 2022 – NielsenIQ and GfK SE (“GfK”), two leaders in global information services, today announced a definitive agreement through which the companies plan to combine, creating new capabilities in the consumer and retail measurement industry. Powered by state-of-the-art cloud technology, the combination will bring together complementary data and analytics assets to provide a comprehensive view of shopper spending through a total store read, enabling clients to anticipate trends and react faster to consumer needs and expectations. The terms of the agreement were not disclosed.

GfK’s leading position in technology and durables across 67 countries, combined with NielsenIQ’s leading position in the measurement of fast-moving consumer goods in 90 countries will allow for expansion within the companies’ traditional client industries as well as new market segments. With a larger technology and operations talent base around the world, the combined company will innovate and bring new products to market even faster and then scale them to a broader set of markets and industries. Both companies firmly believe in the strategic merit this combination holds and are looking to further expand the business both geographically and vertically.

 

“Over the past year, NielsenIQ has been investing both organically and inorganically in the most comprehensive coverage, advanced technologies and predictive analytics to enable our clients to have a complete understanding of their consumers,” said Jim Peck, Executive Chairman and Chief Executive Officer of NielsenIQ. “Combining our market-leading capabilities will allow us to further accelerate innovation that best serves our expanded client base and deliver significant value for all our stakeholders. Together with GfK, we have the opportunity to influence the future of global retail and consumer measurement – one that is fast, nimble and connected.”

 

Through the combination of NielsenIQ’s cloud based Connect platform and omnichannel measurement technologies and GfK’s recently launched gfknewron platform, the company will become a true analytics leader. Its solutions will provide a harmonized, granular and consistent view of consumer purchasing behavior across channels and categories, allowing for real-time decisions to enhance performance and fuel growth. The two companies will bring together an extensive range of talent and expertise, with a proven record of success in measurement and analytic capabilities.

 

“GfK has successfully navigated a digital transformation to profitable and sustainable growth over the last years. Joining forces with NielsenIQ is now the logical next step for us and will support the next stage of our company’s development,” said Lars Nordmark, Interim Chief Executive Officer and Chief Financial Officer of GfK. “The combination with NielsenIQ will enable us to empower our customers to make smarter decisions across their organizations at a truly global scale and accelerate our journey into the next chapter of innovation. This will allow us to tap into significant new growth opportunities.”

 

Ownership

 

With this transaction, Advent will become the majority shareholder of the combined company. Advent acquired NielsenIQ in a transaction that closed in 2021.

 

“We see tremendous potential to build on the two companies’ strong brands and cutting-edge platforms,” said Chris Egan, Managing Partner at Advent. “Given the capabilities and resources of the soon-to-be combined entity, we are confident in our ability to build a truly global leader in consumer and retail data. Drawing on our global footprint and operational strength, we aim to further scale the business and advance its position across established and emerging markets.”

 

Since GfK’s spin-off from NIM in 1984, NIM has been the company’s majority shareholder and will remain one of the key shareholders of the new combined company. Based on the transaction, NIM will be able to further drive and accelerate its development as a leading international research institute.

 

“GfK and NielsenIQ, two top players in market research, have almost 200 years of combined experience. We see the combination of their complementary strengths as a unique opportunity, creating exciting new business opportunities for both parties. The combination is, thus, in the best interest of their employees, customers and retail partners alike,” said Manfred Scheske, President of NIM, and continued: “As a significant shareholder of the new company, NIM will be able to continue its development as a leading international research institute, fulfill its main purpose, as defined by the association’s statutes, and live-up to its founders’ ambitions.”

 

Alongside NIM, KKR will stay invested in the combined company as a minority shareholder. The global investment firm took GfK private alongside NIM in 2017 to support GfK’s strategic transformation and pave the way for sustainable growth. In close collaboration with the company’s management team, NIM and KKR supported the company in a comprehensive transformation, focusing its portfolio, introducing cutting-edge predictive analytics offerings and accelerating its profitable organic growth.

 

“GfK is much stronger today than it was five years ago, and the 2021 results are a testament to GfK’s effort and readiness to continue its path to become an integrated data, analytics and consulting firm providing superior service to its clients. We strongly believe that GfK coming together with NielsenIQ is a transformative combination that allows GfK to proceed on its growth and innovation trajectory at an even faster pace”, said Philipp Freise, Partner and Co-Head of European Private Equity at KKR.

 

Approvals

 

The transaction is expected to close later this year or early next year, subject to the satisfaction of customary closing conditions. Until closing, NielsenIQ and GfK will remain independent companies focused on their current strategies and growth plans.

 

 

###

 

About NielsenIQ

 

NielsenIQ, a global information services company, delivers the gold standard in consumer and retail measurement, through the most connected, complete, and actionable understanding of the evolving global, omnichannel consumer. NielsenIQ is the source of confidence for the industries we serve and the pioneer defining the next century of consumer and retail measurement. Our data, connected insights, and predictive analytics optimize the performance of CPG and retail companies, bringing them closer to the communities they serve and helping to power their growth.

 

NielsenIQ, an Advent International portfolio company, has operations in 90+ markets, covering more than 90% of the world’s population. For more information, visit NielsenIQ.com.

 

About GfK

 

GfK. Growth from Knowledge.

For over 85 years, GfK has earned the trust of its clients around the world by solving critical business questions in their decision-making process around consumers, markets, brands and media. The company’s reliable data and insights, together with advanced AI capabilities, have shaped access to real-time actionable recommendations that drive marketing, sales and organizational effectiveness of its clients and partners. That’s how GfK promises and delivers “Growth from Knowledge”.

For more information, visit https://www.gfk.com.

 

 

About Advent International

 

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

 

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

 

About the Nuremberg Institute for Market Decisions (NIM)

 

The Nuremberg Institute for Market Decisions is a non-profit institute for the research of consumer and market decisions. At the interface between science and practice, the NIM generates new and relevant insights that aid better decision-making and better understanding of consequences. The NIM examines how decisions of consumers and company decision-makers change in the face of new trends, technologies and socio-political shifts.
The Nuremberg Institute for Market Decisions is the founder and anchor shareholder of GfK SE.

For more information, please visit www.nim.org and on LinkedIn.

 

About KKR

 

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

 

Advisors and Legal Counsel 

 

J.P. Morgan Securities LLC and HSBC Securities are serving as financial advisors to Advent International Corporation and NielsenIQ, and Ropes & Gray LLP, Covington & Burling, Weil Gotshal & Manges LLC and Squire Patton Boggs are serving as legal counsel. Goldman Sachs Bank Europe SE is serving as financial advisor to KKR and Nuremberg Institute for Market Decisions. Simpson Thacher & Bartlett LLP and Hengeler Mueller Partnerschaft von Rechtsanwälten mbB are serving as legal counsel to KKR. Rothschild & Co is serving as financial advisor to Nuremberg Institute for Market Decisions. Fieldfisher and Baker & Hostetler LLP is serving as legal counsel to Nuremberg Institute for Market Decisions. White & Case LLP is serving as legal counsel to GfK SE.

 

Media Contacts

 

For NielsenIQ

Gillian Mosher

Vice President, Communications

gillian.mosher@nielseniq.com

 

Stephanie Manning

Head of Communications, Europe, Middle East and Africa

stephanie.manning@nielseniq.com

 

Fernanda Paredes

Head of Global Communication

Fernanda.paredes@nielseniq.com

 

Edelman team

NielsenIQ@edelman.com

 

For GfK

Kai Hummel

Vice President Communications & Public Affairs

Mobile: +49 170 7700194

Email: public.relations@gfk.com

 

For Advent

FGS Global

Zachary Tramonti

Office: +1 (617) 546-4250

Email: AdventInternational-US@fgsglobal.com

  

Sophia Templin

Mobile: +1 (917) 596-8172

 

 

For NIM

Sandra Lades

Head of Communication & Events

Mobile: +49 170 5652003

Email: sandra.lades@nim.org

 

For KKR

FGS Global

Thea Bichmann

Mobile: +49 172 13 99 761

Email: kkr_germany@fgsglobal.com

  

Emily Lagemann

Mobile: +49 160 992 713 35

Email: kkr_germany@fgsglobal.com

 

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The Ratos company NVBS acquires TKBM Entreprenad AB

Ratos

NVBS, which is a fast-growing player in maintenance, upgrades and construction of critical railway infrastructure, has acquired the civil engineering company TKBM Entreprenad AB. TKBM has its operations in and around Stockholm and the acquisition marks a further advance for NVBS’s growth journey.

TKBM is a strong company in cable and trunking installations and is expected to have sales of some SEK 65m with an EBITA of SEK 5m in 2022.

NVBS, which is active in Sweden, Norway and Finland, has in the last few years undergone a number of changes focused on growth and development and has a clear acquisition agenda.

“Ratos acquired NVBS because we see that upgrades of critical infrastructure is an attractive and growing niche with considerable potential. NVBS’s acquisition of TKBM is proof that NVBS has excellent prerequisites in place for continued organic and acquisition-driven expansion, something we already witnessed in conjunction with the acquisition earlier this year,” says Christian Johansson Gebauer, Chairman of the Board of NVBS and President Business Area Construction & Services of Ratos.

“I am delighted that this acquisition will provide our customers with a strong partner with experience and a sharp groundworks offering in and around Stockholm,” says David Skalin, President and CEO of NVBS.

For further information and media please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 14 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 25 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Ardian to support EMH Partners’ majority acquisition of Cleverbridge with new unitranche financing

Ardian

Ardian, a world leading private investment house, today announces that it has arranged a new unitranche financing to support the majority acquisition of Cleverbridge by EMH Partners, alongside the management team and founders. The financing arranged by Ardian’s Private Debt team also includes an additional committed debt facility to further support Cleverbridge’s global expansion plans.

Headquartered in Cologne and Chicago and founded in 2005, Cleverbridge provides solutions that enable clients to grow their revenue without adding headcount. Driving subscription-renewals through personalized automation for B2B & B2C clients in SaaS and digital goods; Cleverbridge provides an easy-to-integrate, cloud-based and AI/ML driven engine that simplifies client-retention and market expansion while providing best-in-class customer experience in 180 global markets.

These capabilities are coupled to proven global tax, compliance and payment-solutions that help Cleverbridge clients improve cost efficiency, client-retention and grow revenue without adding headcount.

“We are delighted to be supporting the management team and EMH Partners who have a strong track record in expanding and scaling mid-sized companies in the digital space. Cleverbridge leverages its unique proposition to drive clients’ growth in the attractive software and digital goods market and is well-positioned for continued expansion. The Private Debt team is very pleased to be the company’s financing partner and to support Cleverbridge’s growth ambitions.” Lukas Stepanek, Managing Director in the Ardian Private Debt team

“Cleverbridge addresses a huge market opportunity as the volume of subscription and software-as-a-service solutions sold globally continues to increase. With Ardian’s bespoke and flexible financing solution we look forward to supporting the company and its management team during their next phase of expansion.” Dominik Schwarz, Partner at EMH Partners

ABOUT CLEVERBRIDGE

Cleverbridge provides solutions that enable clients to grow their revenue without adding headcount. With a full suite of revenue tools such as renewal automation and payment, tax and compliance solutions, Cleverbridge helps B2B & B2C enterprises go-to-market in 180 markets, processing an average of 1.5m transactions per month.

www.grow.cleverbridge.com

ABOUT EMH PARTNERS

EMH Partners is an owner-led investment firm by entrepreneurs for entrepreneurs. As a next-generation private equity company and one of the leading investors in the DACH region, EMH Partners supports the growth of Mittelstand companies with capital, digitalization and expansion expertise. EMH Partners invests in market leading, owner-managed companies to accompany them in partnership during the next growth phase. Today, EMH Partners manages more than €1 billion of committed capital.

www.emh.com

ABOUT ARDIAN

Ardian is a world leading private investment house, managing or advising $130bn of assets on behalf of more than 1,300 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. We also provide a specialist service for private clients through Ardian Private Wealth Solutions. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 900+ employees, spread across 15 offices in Europe, the Americas and Asia, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

Media Contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.co.uk

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Rester, a provider of textile recycling solutions, has secured EUR 6 million in funding

Tesi

Rester, Finnish global forerunner in building textile recovery value chains, has secured EUR six million in growth funding. The company will use the funds to scale up and internationalise. The recycled fiber processed by Rester can be used, for example, in the textile industry to produce fabrics or technical textiles, and in the construction industry for the production of insulation and composite materials and acoustic panels.

The round was led by Lindström Group, becoming a significant minority owner. Other new owners include family-owned investment company Besodos Investors Oy and Taaleri Sijoitus Oy. Tesi (Finnish Industry Investment) also made an initial investment in the company.

”The textile industry is a major source of greenhouse emissions in the global economy and consumes vast amounts of water. Still, recycling and reuse of textiles, which would decrease the environment load, is far from optimal. Our investment in Rester has a concrete impact and promotes sustainable business as the company scales up and expands globally,” comments Mikael Niemi, Investment Director at Tesi.

Tesi invested in Rester from its circular economy programme with which Tesi promotes material efficiency and carbon neutrality. The programme that invests in both funds and growth companies kickstarted in 2018, sized at EUR 75 million.

”We are putting strong emphasis on growth and internationalisation, and by doing so, work on green transition in the textile industry. For us, Tesi is an important partner in our growth path where value chains become increasingly built up around global players in the industry. Having got Tesi on board meant that the funding round was as optimal as it could have been,” says gladly Outi Luukko, CEO of Rester.

 

Additional information:

Mikael Niemi, Investment Director, Growth and Industrial Investments
mikael.niemi@tesi.fi
+358 50 597 7303

Outi Luukko, CEO, Rester
outi@rester.fi
+358 400 406083

 

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, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII 

Rester is a leading global forerunner in building textile recovery value chains. Located in Southwest Finland, the company offers textile recycling solutions that can be used to process end-of-life textiles and by-products of manufacturing into recycled fibers and quality raw materials. During the process, the textiles are opened mechanically back into fibers. Rester recovered fiber can be used by a great diversity of sectors to replace virgin raw material. Our customer base consists of businesses that supply us with end-of-life textiles that they no longer need and businesses that use recycled Rester fiber in their production or for their products. Founded in 2019, Rester began its operations in November 2021. Rester’s principal owner is Touchpoint Oy, a manufacturer of ecological workwear. www.rester.fi

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Nordic Capital becomes owner of Ellos Group once again

Nordic Capital

Nordic Capital becomes owner of Ellos Group once again

June 30 2022

Nordic Capital becomes the new owner of FNG Nordic AB (Ellos Group), the Nordic region’s leading e-commerce group within home and fashion. With a profitable, long-term development and backed by a stable owner, Ellos Group is well positioned in the market to benefit from online growth and demand in the Nordics and elsewhere in Europe.

Ellos Group is on a growth journey with significant investments and progress made on the way to becoming the Nordic region’s leading e-commerce group within home and fashion. After several years of profitable growth, Ellos Group achieved sales of nearly SEK 3.6 billion in 2021. Today, Ellos Group has more than 2 million active and satisfied customers in the Nordics and across Europe.

Based on an ambitious growth strategy, Ellos Group has successfully expanded its well-invested and scalable e-commerce platform. In recent years, the company has expanded its attractive Jotex range of home furnishings into selected markets in Europe. The strategy was recently sharpened with greater focus on creating a more attractive, sustainable and broad-based fashion and home offering to core customers: women in mid-life.

Ellos Group was owned until 2019 by Nordic Capital, which then entered into an agreement to sell Ellos Group to FNG Nordic AB (publ), indirectly owned by the Belgian company FNG NV. Nordic Capital has been an indirect minority owner since the sale and has in the last three years continued to support Ellos Group’s development and progress.

As previously communicated, due to Ellos Group’s former owner filing a petition to commence insolvency proceedings in Belgium, Nordic Capital initiated a process in February 2022 to become the owner of the company. The ownership assessment required for Nordic Capital to regain ownership of Ellos Group has since been approved by the Swedish Financial Supervisory Authority.

“The news that Nordic Capital once again becomes Ellos Group’s owner is very positive. We know Nordic Capital well and look forward to working with them as owner. We are starting from a positive position having improved the customer experience, strengthened our operational capability and expanded in Europe in recent years. Our focused efforts have produced results. After several years of profitable growth, our annual sales are around SEK 3.6 billion. We successfully maintained last year’s high sales levels during the first months of this year. We are now looking ahead and are well positioned in the market to benefit from online growth and demand in the Nordics and elsewhere in Europe,” says Hans Ohlsson, CEO of Ellos Group.

“We are, and have always been, impressed by Ellos Group’s strategic position as a Nordic leader in its industry and by the performance of the management team, which has managed to strengthen the company in recent years and expand into strategically important new markets. By becoming owner, Nordic Capital commits, once again, to support the continued growth and success of Ellos Group,” says Robert Furuhjelm, Chairman of FNG Nordic and Partner, Nordic Capital Advisors.

As the new owner of the company, Nordic Capital will actively support Ellos Group in the forthcoming expansion phase. Focus is on continuing to grow the business in the Nordic home market and in selected markets in Europe.

As previously communicated, the existing financing remains in place. FNG Nordic’s bondholders previously approved a change to the terms of FNG Nordic’s bond loan, which rendered the transfer of ownership possible.

In conjunction with the change of ownership, FNG Nordic will change its name.

For more information:
Johan Stigson, CFO, Telephone. +46 (0)33 16 08 05

About Ellos Group 

The Ellos Group, which includes Ellos, Jotex, Stayhard, and Homeroom, is the Nordic region’s leading e-commerce group. Working closely with our millions of customers, we are constantly striving to develop and offer attractive and sustainable fashion and household items for the entire family. Our focus is always on the customer. We continuously work to develop our business through innovation, creativity, and sustainability. The Ellos Group, headquartered in Borås, and with operations in all Nordic countries and selected European markets, has around 600 employees and sales of around SEK 3.6 billion. www.ellosgroup.com

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Headwall Expands Product Portfolio with Nano-Replication Capability Via Acquisition of Holographix

Arsenal Capital Partners

Proprietary technology to reproduce structured surfaces and optical devices is used in a wide array of industries

June 30, 2022

Bolton, MA- Headwall Photonics,a leading manufacturer of master holographic gratings, spectrographs, and spectrometers for OEM customers, announced today the acquisition of Holographix LLC. For over 25 years Holographix has focused on micro- and nano-structure replication of high performance, custom designed photonic solutions for the life sciences, semiconductor, aerospace & defense, and metrology markets.

“Headwall’s holographic master gratings are core to both our OEM and Hyperspectral Imaging businesses,” stated Don Battistoni, President of Headwall. “Adding Holographix’s replication technology immediately opens channels to new customers and markets as well as new products and capabilities for existing customers of both companies, while expanding our manufacturing capabilities to address future growth. Further, the added ability to fabricate high precision micro-lens arrays, structured diffusers, waveguides, and replicated mirrors facilitates value-add within our current customer base and opens the door to adjacent high-volume applications.”

“Headwall’s mastering expertise and Holographix’s replication capabilities go hand-in-hand. Therefore, it is clear to us that Headwall is the perfect complementary partner for Holographix,” David Rowe, President and CEO of Holographix added. “In addition to the close geographic proximity of our respective manufacturing facilities, Headwall and Holographix share a common company culture that is committed to excellence for our customers. Access to Headwall’s master holographic gratings and OEM assembly capabilities, as well as their commercial infrastructure, will help Holographix realize the inherent scalability of our replication technology.”

About Headwall
Headwall, headquartered in Bolton, MA, designs and manufactures hyperspectral solutions and technologies for the industrial, government, academic, and research end markets. The company’s products operate across the spectral range to analyze complex hyperspectral images and provide actionable insights to its customers. For more information, please visit www.headwallphotonics.com

About Holographix
Holographix LLC produces state-of-the-art structured surfaces and optical devices that are used in a wide array of industries including life sciences, semiconductor, aerospace, display, telecommunication, and precision measurement. The company’s proprietary replication technology enables high performance, yet lower-cost, components for OEM customers. Holographix’s 15,000 square foot facility in Marlborough, MA is equipped with high-end coating and sputtering systems, metrology instrumentation, and a variety of custom cleanrooms to accommodate high-volume manufacturing. For more information, please visit www.holographix.com

For more information, please contact:
Ross Nakatsuji
Headwall Marketing Communications Manager
580 Main Street
Bolton, Massachusetts 01740
Tel: +1-978-353-4051
E-Mail: rnakatsuji@headwallphotonics.com

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