Bridgepoint, an international private equity firm, today announced that it has acquired Safety Technology Holdings (“STH”), the world’s leading supplier in the design and manufacture of safety test equipment, specialty fiber, custom engineered stress & strain solutions and software modelling, from Golden Gate Capital. Terms of the transaction were not disclosed.
Christopher O’Connor, President and CEO, said: “We are proud of the strong foundation we built through our partnership with Golden Gate Capital and are delighted to welcome Bridgepoint as shareholders, who have a track record of building and providing long-term support to the businesses with whom they work. We are already a global business but will undoubtedly benefit from the Bridgepoint network, especially in Europe and China, to drive future growth and continue to deliver world leading safety solutions for our customers.”
Andrew Sweet, Partner at Bridgepoint commented: “STH is a pioneer in saving lives. Its technology is uniquely positioned to address the opportunities presented by disruptive developments such as driverless and electric cars and increased safety regulatory requirements. We look forward to working with the company to pursue its many avenues of growth.”
Rajeev Amara, Managing Director at Golden Gate Capital commented: “We have enjoyed an amazing partnership with Chris O’Connor. Under Chris’ leadership, the company has successfully executed on its growth strategy, which has resulted in the doubling of its size in just four years, by expanding into adjacent markets across a variety of product lines. We are confident the company has a bright future ahead.”
The investment in STH is made by Bridgepoint Europe V, a €4 billion middle market buyout fund. Houlihan Lokey served as financial advisor to Bridgepoint and Moelis & Company served as financial advisor to Golden Gate Capital.
3i Group plc (“3i”) today announces that it will invest in Royal Sanders, a leading European private label and contract manufacturing producer of personal care products with plants in the Netherlands (Vlijmen) and in the UK (Preston). 3i is investing alongside management to drive the company’s international growth strategy. The business is being purchased from Dutch private equity firm, Egeria.
Royal Sanders’ main product categories include shampoo, bath and shower gels, body lotions and hand wash and its key geographies are the Benelux, Germany and UK. The company sells its products through private label, contract manufacturing and own brands including Van Gils, Sanicur and Odorex.
The company has demonstrated a consistent and strong track record of profitable growth over the past 10 years with 13% sales CAGR, significantly outgrowing the market. It differentiates itself through its focus on quality, its longstanding relationships with key customers and its superior operational capabilities at its state-of-the-art facilities.
Pieter de Jong, Partner at 3i Benelux, commented: “Royal Sanders has enjoyed strong organic growth in recent years and is now ready to drive consolidation in a fragmented industry. We see multiple potential buy-and-build opportunities across geographies and are very excited to be working with the management team to support them in this next phase of growth.”
Bart Hullegie, CEO of Royal Sanders, added: “We are delighted to be partnering with 3i. It has extensive experience in buy-and-build in private label, for example through its investment in European soft drinks bottler Refresco, and in growing companies internationally through its network of valuable industry experts in the consumer sector.”
The transaction is subject to customary antitrust approvals.
Ratos’s subsidiary airteam is expanding to Sweden through the acquisition of Luftkontroll Energy Örebro AB (Luftkontroll Energy), a leading installer of ventilation solutions in the Mälardalen region.
airteam, a leading supplier of ventilation solutions in Denmark, is strengthening its market position by expanding to Sweden through the acquisition of Luftkontroll Energy. The company has approximately 35 employees and offices in Örebro. Its sales for 2017 amounted to about SEK 80m. Luftkontroll Energy offers efficient ventilation and energy solutions, including after-sales and maintenance services.
“Through the acquisition of Luftkontroll Energy, airteam is taking its first, strategically important steps into Sweden. The company has a strong market position and competent management team, who will remain in their roles and be partners in the company moving forward. The company is a good fit for airteam’s business model and we see strong potential for airteam to continue growing in Sweden,” says Robin Molvin, Senior Investment Director at Ratos.
The acquisition is expected to be completed in the first quarter of 2018.
For further information, please contact:
Robin Molvin, Senior Investment Director Ratos, +46 8 700 17 15
Helene Gustafsson, Head of IR and Press, +46 8 700 17 98
Financial calendar from Ratos:
Year-end report 2017 16 February 2018
Interim report January-March 2018 3 May 2018
Annual General Meeting 2018 3 May 2018
Interim report January-June 2018 17 August 2018
Interim report January-September 2018 25 October 2018
Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 14 medium-sized Nordic companies and the largest segments in terms of sales are Industrials, Consumer goods/Commerce and Construction. Ratos is listed on Nasdaq Stockholm and has a total of approximately 13,400 employees.
- Deal represents Aurelius’ third acquisition in the European packaging sector since 2015
- Aurelius plans to further strengthen its operations in the packaging sector
- Three manufacturing facilities in Spain and France
- Projected revenues of c.€70m in 2017
Munich/London/Madrid, February 1, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) successfully completed the acquisition of Abelan Board Industrial S.L., a major producer of core board and solid board packaging products operating out of Southern Europe, as of January 31, 2018. The deal represents AURELIUS’ third acquisition in the European packaging sector since 2015 and will further strengthen the Group’s operations in this market. The financial terms of the deal are undisclosed. Aurelius plans to further strengthen its operations in the packaging sector via strategic add-on acquisitions going forward.
Founded in 1911, Abelan has grown to be one of Europe’s leading providers of core board and solid board packaging solutions. The Company is headquartered in San Andrés in northern Spain and employs c.250 people across three manufacturing facilities in Spain and France. It is projected to generate revenues of approximately €70m in 2017. Abelan has two key areas of expertise: the production of core board, for cardboard tubes, boxes and other applications within packaging, and its solid board packaging division, which supplies a large variety of boxes and trays to major distribution brands in the European agricultural, meat, flower and various other industries.
Managing Director of Abelan, Simón Roda, will continue to lead the Company. Abelan will be combined with AURELIUS investee company Solidus Solutions, one of Europe’s leading producers of solid board, graphic board and solid board packaging with c.1,000 employees. Solidus has production facilities in the Netherlands, Belgium and the UK, having integrated its sites after AURELIUS acquired the Northern European activities of Abelan in June 2016, as well as dedicated sales offices in France and Norway. AURELIUS’ acquisition of Abelan, and the integration of its production facilities and customer base into Solidus, will create synergies across both companies’ production, purchasing and sales. In addition, it will strengthen Solidus’ access to Southern European markets and establish Solidus as a leading player in the areas of solid board, graphic board and core board.
Holmbergs Safety System Holding AB (“Holmbergs”) has signed an agreement to acquire Austria based Fasching Safety Belts GmbH (“Fasching”), which is a leading provider of safety belts for the bus and motor coach industry. The acquisition is consistent with Holmbergs’ strategy of growing its Secured Transportation business, both organically and through M&A, to complement its global market leading position in child safety systems. Fasching’s current owner will re-invest a substantial part of the transaction proceeds in Holmbergs, as well as remaining in the Board of Directors for Fasching and working actively with strengthening the Holmbergs Group’s overall position in the DACH region.
Fasching is a global leading manufacturer of safety belts for buses, commercial vehicles and wheelchairs. The company has shown strong organic annual growth in recent years, and currently has revenues of EUR 10 million. Today, Fasching has a stable global platform for continued expansion.
Anders Sandell, CEO Holmbergs:
“We are impressed by Fasching’s strong growth journey, as well as its leading market position for safety solutions in attractive niches of the transportation market, and in particular its global market leading position in the bus segment. Fasching will form a great platform for continued growth in our Secured Transportation business. Furthermore, this transaction is in line with our strategy to continue to grow our Secured Transportation business, both organically and through acquisitions of market leading niche players. Most importantly, we hereby want to welcome Fasching to the Holmbergs’ family, and we look forward to start working with Mr. Mayer and his colleagues at Fasching.”
Peter Mayer, CEO and owner of Fasching:
“It has been a great journey since I joined Fasching in 2014. Since then, we have grown topline organically by CAGR 15%, and we are today the global market leading player in safety belts for buses, with customers on multiple continents. It is my strong view that Holmbergs will be a great owner of Fasching, and the acquisition will strengthen both Holmbergs’ and Fasching’s offering. Also, I am excited of being able to re-invest in Holmbergs, as well as continue working with Fasching, together with the Holmbergs’ team.”
Holmbergs is a global market leader in the fast-growing niche markets of safety products and systems for child safety seats, as well as for the secured transportation industry. In 2017, Holmbergs pro-forma sales is expected to exceed SEK 430 million. In partnership with FSN Capital, Holmbergs aspires to reinforce its strong market position in child safety and further accelerate international growth, primarily in Asia. Additionally, the company intends to continue to grow its adjacent Secured Transportation business, both through organic as well as in organic initiatives.
Spiral Binding LLC (“Spiral”) has acquired binding efficiency experts Bindomatic Holding AB (“Bindomatic”) from Valedo Partners Fund I AB (“Valedo”). Valedo invested in Bindomatic in 2008 and has since devoted significant resources to expand direct sales and increase operational efficiency.
Bindomatic is established as a global market leader in offline thermal binding solutions. The company is headquartered in Stockholm, Sweden and operates own subsidiaries in USA, Germany, Portugal and Belgium. Through close co-operation with distributors the company’s products are offered globally.
“Bindomatic has achieved a stable and consistent growth over several years with direct sales growing more than 40% since 2011 supported by; investments in our sales force, launch of the Accel machine series with market leading Drop & Go-efficiency and strengthened production set-up. We believe that Spiral’s established reach to major corporations, small to mid-sized businesses, printers, facility management organizations, as well as the U.S. government and education markets will be a tremendous boost to Bindomatic’s customer base. By combining our market-leading products with their vast network, we are in a great position to transform the binding industry with new, more efficient technology.” says Göran Tolf, CEO, Bindomatic.
The terms and conditions of the transaction are not disclosed.
Valedo is an independent Swedish investment company investing in high-quality small/mid cap companies in the Nordic region. Valedo is focusing on companies with clear growth and development potential where Valedo can actively contribute to and accelerate the companies’ development. Being an active owner and contributing both capital and industrial experience, Valedo ensures that a company can achieve its full potential.
Bindomatic is a Swedish corporation and technology-leading manufacturer of best-in-class document binding solutions, doing business on a global scale for over 40 years through a vast distributor network as well as wholly-owned subsidiaries. The group is dedicated to providing top-quality business solutions for professional document finishing. They continue to strive to be the world leaders in off-line finishing by supplying best-in-class binding machines as well as unmatched quality with a variety of covers and supplies.
Spiral is a leading manufacturer and worldwide distributor of a diverse line of print-finishing, graphic-arts, and presentation products and services. Spiral maintains a highly qualified team of professionals that provides solutions to match any area of need for supplies and equipment in binding, laminating, paper handling, photo finishing, and custom imprinting services. Spiral is also the exclusive global manufacturer and distributor for the Pinchbook™ photobook and Silver Linings™ Self-Adhesive Photo Panels.
Arundo Analytics Raises $25M Series A Funding to Bring Large-Scale Machine Learning Into Asset-Heavy Industries
Purpose-Built Platform for Deep Industrial Data Science Plans for Global Expansion
Enables Heavy Industries to Drive Business Value from Operating Data in Days Instead of Months
HOUSTON–(BUSINESS WIRE)–January 25, 2018–
Arundo Analytics, a software company powering advanced analytics in heavy industry, announced today an initial closing of $25 million on its Series A financing round. To date, the company has raised over $32.5 million since its founding in 2015.
“This investment is a validation of the product and market strategy our team pursued over the last two years,” said Tor Jakob Ramsøy, CEO of Arundo. “We created flexible, user-friendly software that allows operators, OEMs and service companies in heavy industries to quickly integrate machine learning into their operations. With Arundo’s software, our customers can drive business value from operating data in days or weeks, rather than months or years. This resonates with both our customers and our investors.”
Several leading investors joined in this round, including Sundt AS, Stokke Industri, Horizon, Canica, Strømstangen and Arctic Fund Management. Existing investors also participated, including Stanford-StartX Fund and Northgate Partners.
While companies in sectors such as consumer Internet use the latest machine learning techniques to improve business outcomes, many heavy industrial companies are unable to capitalize on their data. This is due to a combination of legacy assets and challenging operating conditions. As a result, operational data often sits unused. Arundo Analytics solves this challenge with cloud-based, edge-enabled software purpose-built for deep industrial data science and advanced analytics, as well as machine learning applications in areas such as equipment monitoring and sensor anomaly detection.
“Our heritage is rooted in the maritime industry and we understand the challenges and opportunities presented by advanced analytics in such heavy industrial settings,” said Leiv Askvig, CEO of Sundt AS. “We are excited by the team, products and market opportunity of Arundo.”
Arundo plans to use the funds to expand sales and marketing efforts in asset-heavy industries, including the oil & gas, maritime, mining, chemicals, power and manufacturing sectors, as well as to continue to build on its team of world-class software engineers and data scientists in Houston, Oslo and Palo Alto. The company recently added personnel to support global customers in Lausanne, Switzerland and London, UK. It continues to grow its presence in major industrial markets around the world.
With offices in Oslo, Houston and Silicon Valley, Arundo Analytics provides cloud-based and edge-enabled software for the deployment and management of enterprise-scale industrial data science solutions. Arundo’s software allows industrial companies and other organizations to increase revenue, reduce costs and mitigate risks through machine learning and other analytical solutions that connect industrial data to advanced models and connect model insights to business decisions. In 2016, Arundo graduated from Stanford University’s StartX accelerator program, and subsequently received investment from the Stanford-StartX Fund. In 2017, Arundo was named to the MIT STEX25 by the Massachusetts Institute of Technology Startup Exchange (MIT STEX). MIT STEX25 recognizes select companies from a pool of more than 1,000 MIT-connected startups as being particularly well-suited for industry collaboration based on technical and commercial success. For more information, please visit www.arundo.com, or follow Arundo Analytics on Twitter @arundoanalytics.
Partners Group to exit Trimco, a global provider of labels and brand identification solutions to the apparel sect
Partners Group, the global private markets investment manager, has agreed the sale of Trimco International Holdings Limited (“Trimco” or “the Company”), a Hong Kong-headquartered apparel-labeling producer, on behalf of its clients. The Company will be acquired by funds advised by Affinity Equity Partners for a total consideration of USD 520 million, generating a 3.4x return for Partners Group on its original investment.
Founded in Hong Kong in 1978, Trimco provides a full range of garment labels, tags and trimming products to blue chip apparel brands and retailers worldwide. Partners Group acquired Trimco on behalf of its clients in May 2012 and has subsequently worked alongside the senior management team, led by Miranda Kong, the Group CEO and Founder, to oversee a period of expansion in which the Company quadrupled its business and grew from an Asia-centric manufacturing specialist into a global leader in its field. Trimco currently serves more than 500 clients worldwide and has grown from 400 employees in 2012 to more than 1,450 employees today.
Amy Wan, COO of Trimco, comments: “Over the last five years, we have worked hand-in-hand with the Partners Group team during a period of continuous growth and development for our business. Partners Group’s global footprint and expansive network have enabled us to fast-forward our international expansion strategy through targeted add-on acquisitions as well as organic growth. As we change ownership, we are proud to reflect on this tremendous growth trajectory.”
Florian Marquis, Senior Vice President, Private Equity Asia, Partners Group, explains: “Our value creation plan was designed to support Trimco’s international expansion. For example, we focused on building out dedicated client relationship teams in key markets including the UK and major Continental European consumer markets, as well as North America. Additionally, Partners Group supported Trimco in expanding its manufacturing footprint in key apparel hubs across Eastern Europe, Turkey, China, and South and Southeast Asia.”
Notable add-on acquisitions during the five-year holding period included the 2015 purchase of Denmark-headquartered A-Tex, also a global provider of brand identity products including labels, hang-tags, packaging solutions and in-store decorations for leading European and US fashion brands.
Cyrus Driver, Managing Director, Head Private Equity Asia, adds: “When we invested into Trimco in 2012, we could see that it had the potential to become a global leader within its sector. Five years later, and following an exceptional partnership with its senior management team and a structured approach to international expansion, the Company has clearly achieved this goal. We wish the Trimco team continued success in the future.”
Goldman Sachs (Asia) LLC. acted as sole financial advisor and Clifford Chance as legal advisor.
At the beginning of the new year,we are pleased to announce that Kanalservice Gruppe has successfully acquired Jeschke Umwelttechnik GmbH. Jeschke Umwelttechnik is headquartered in Stutensee close to Karlsruhe, Germany, and has more than 30 highly trained employees in the field of sewer renovation. Jeschke Umwelttechnik has a unique expertise in the installation cured-in-place pipe liners and is a full -service provider in this field.
In recent years, the company has established itself as a leading player in the sewer renovation segment for public-sector customers in southwestern Germany. The cured-in-place pipe lining process is a common method for trenchless rehabilitation of buried, non-pressurized drainage networks, such as the sewer system. In the process, a fiberglass hose (tube liner) impregnated with synthetic resin is drawn into a tube and then cured by UV light. Kanalservice Gruppe, with headquarters in Switzerland, is the owner of Mökah Gruppe that offers sewer cleaning, inspection, renovation as well as suction and surface cleaning services with 170 employees.
“I am very happy that I found the ideal partner in Kanalservice Gruppe to further grow the company organically as well as for acquisitions. I am convinced that the acquisition lays the foundation for a successful, long-term collaboration. I am looking forward to the execution of our growth strategy in the coming years” says Steffen Jeschke, CEO and owner of Jeschke Umwelttechnik.
“We are delighted, that with Mr. Jeschke and his team we found proven experts in the cured-in-place pipe lining segment in southwestern Germany as a strategic addition to Kanalservice Gruppe.
Mr. Jeschke will continue his successful work as CEO of Jeschke Umwelttechnik and we are happy to welcome him as a shareholder of the group ”adds Ralf Flore, Managing Partner at Ufenau Capital Partners.
Sincerely, your Ufenau Team
About Ufenau Capital Partners
Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German – speaking Europe and invests in the Education & Lifestyle, Business Services, Health Care and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.