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Technology & Strategy merges Intys Partners and pursues further growth, with support of Ardian

Ardian

Technology & Strategy (T&S), the European specialist in technology consulting, announces that it has merged Intys Partners, one of the leading Belgian consulting firms in operations management and digital transformation, formerly held by Omnes.

With the support of Ardian’s Expansion team, T&S is positioned at the forefront of the European consulting and engineering industry.

Founded in 2008, T&S has established itself as a specialist in engineering, digital and project management consulting, with recognized expertise in embedded systems. The company has experienced very strong growth of more than 20% every year, both organically and externally. The merger with Intys Partners, a European firm recognized as a major partner in management consulting with more than 450 employees, is a new step for T&S in its “scale up 2024” plan. It aims to create a one-stop-shop for clients to access the best combination of specialists for their technological transformation.

The combined group will count more than 2,400 employees and show strong expertise, sector and geographic complementarities.

It is now a leading consulting firm, offering expertise in three primary areas: engineering consulting, digital consulting, and operational performance consulting. The geographical footprint is strongly reinforced in the Benelux and now extends from Europe (France, Switzerland, Germany, Benelux) to Asia (Hong Kong, Singapore).

As a multi-specialist player in high-growth niche markets, the merger with Intys Partners will enable the group to strengthen its sector expertise in Healthcare, which now represents 13% of combined revenues.

Attracting new talent – an essential pillar to the Group’s strategy – will be strengthened by offering opportunities for career growth and opportunities to work abroad.

Globally, new synergies resulting from the integration of Intys Partners will enable T&S group to develop around strong brands which are better able to serve clients.

“Intys is above all a meeting with a manager and a company with a similar history to the one of T&S. The strong complementarity of our offers, our businesses and above all of our people will enable us to achieve our common ambition of going further, stronger, together. ” Jérémie Huss, Co-Founder and CEO of T&S Group

“Recently, one of our major clients told me: “Intys, we greatly appreciate your ability to understand our business, but also the innovative way you look at our projects. The question I want to ask you is, when will you be ready to deliver the same level of quality not only in Belgium, but also further abroad?” Today, with this merger, I am convinced that we are ready. “ Philippe Metz, CEO of Intys

“Supporting high-growth, ambitious companies looking to expand outside their home market is at the heart of our investment philosophy. We are pleased to support the management of T&S in this new stage of development, which confirms the group’s abilitý to continue its growth while participating in the consolidation of the sector.” Marie Arnaud-Battandier, Managing Director Ardian Expansion

List of Participants

  • Technology & Strategy:

    • Jérémie Huss, Fabrice Tricaud

  • Intys Partners:

    • Philippe Metz, Michel Van Hemele, Katrien De Both

  • Ardian Expansion:

    • Marie Arnaud-Battandier, Arthur de Salins, Thomas Grétéré

  • Buyer Legal advisors:

    • CMS (Arnaud Van Oekel, David Prync, Candice Kunkera)

  • Tax structuring:

    • CMS (Olivier Querinjean), Delaby & Dorison (Emmanuel Delaby, Florian Tumoine, Guillaume Lacombe)

  • Buyer financing advisors:

    • Latham & Watkins (Michel Houdayer, Aurélie Buchinet, Matthieu Herviaux)

  • Buyer M&A advisors:

    • Houlihan Lokey (Sara Napolitano, Gary Kurtz, Zaid Lahsiba)

  • Commercial Due Diligence:

    • Roland Berger (Grégoire Tondreau, Benjamin Verhelst)

  • Financial Due Diligence:

    • 8 Advisory (Philippe Fimmers, Margot De Vylder, Florent Garnier, Pierre-David Forterre, Alain Kabera)

  • Legal, Tax and Social Due Diligence:

    • CMS (Arnaud Van Oekel, Benoit Gomel, David Prync, Candice Kunkera)

  • Omnes :

    • Stéphane Roussilhe, Jess Wizman, Céleste Lauriot Dit Prevost

  • Seller Legal advisors :

    • Hoche Avocats (Grine Lahreche, Sophie Millet)

  • Management Legal advisors:

    • Liedekerke (Damien Conem, Charline Cogels)

ABOUT TECHNOLOGY & STRATEGY

Technology & Strategy is a company created in 2008. Specialized in Engineering, IT, Digital and Project Management, T&S supports its customers on innovative development projects. T&S also has an integrated design office to meet the requirements of the market.
Human oriented, and definitely focused on excellence, T&S is a company that shares its expertise with a constant concern for transparency. Technology & Strategy has been able to build trusting relationships with major clients in the industrial, automotive and financial sectors.
International, with a Franco-German DNA, T&S defends an entrepreneurial model supported by its 2000 employees, composed of 30 nationalities spread over 16 agencies and 7 countries (France, Germany, Switzerland, Belgium, United Kingdom, Singapore, Hong Kong).

www.technologyandstrategy.group

ABOUT INTYS PARTNERS

Created in 2007, Intys now has more than 450 employees in 3 countries, with a strong base in Belgium. The company is recognized as a major consulting partner, particularly in the support and operationalization of strategies.
Its activities are structured around business expertise through 6 brands. Intys Consulting, Intys FSA and Univers Retail in Management Consulting, and Intys Data, Agir, and Vadis Technologies in Technology Consulting. This organization allows the development of an in-depth knowledge of both the sectors and the businesses of its clients, but also the sharing of best practices in terms of strategy execution.
Its ambition is to be a partner of choice for its customers and employees, to maintain its level of operational excellence, but also to have a stronger European footprint, even on other continents.

www.intyspartners.eu

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $125 billion under management and/or advisory in Europe, the Americas and Asia. The company, majority owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors top-tier performance.
Through its commitment to sharing the value created with all stakeholders, Ardian contributes to the growth of companies and economies around the world.
Building on its values of excellence, loyalty and entrepreneurship, Ardian has an international network of over 850 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The firm manages funds for 1,200 clients through its five investment pillars: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

Media Contacts

TECHNOLOGY & STRATEGY

Mickael Brandstetter

m.brandstetter@technologyandstrategy.com  

INTYS PARTNERS

Philippe Metz

philippe.metz@intys.eu  

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Sitevision to join forces with IK Partners

IK Partners

IK Partners (“IK”) is pleased to announce that the IK Small Cap III Fund has reached an agreement to invest in Sitevision AB (“Sitevision” or “the Company”), a leading Swedish content management system (“CMS”) and intranet solution provider. IK is investing from its dedicated pool of Development Capital and is acquiring its stake from the founders Anders Korsvall, Karl Eklöf, and Niclas Hedlund, all of whom will be reinvesting alongside IK and will remain majority owners. Financial terms of the transaction are not disclosed.

Sitevision is a rapidly growing and well-renowned CMS and intranet solutions platform, with a market-leading position in Sweden and a growing presence in Norway, among public institutions and mid-to-large corporate clients. The Company offers a single unified platform for both CMS and intranet solutions, allowing clients to manage content, publish information and interact with customers and employees in a flexible and accessible environment.

Sitevision was founded in 2002 in Örebro where its headquarters remain. Today, the Company has grown into one of the leading CMS and intranet providers in Sweden and has local sales presence in Stockholm, Gothenburg and more recently Oslo, as part of its strategic expansion into Norway.

Over the last 20 years, Sitevision has successfully developed and refined its proposition to meet the changing needs of its customers with regards to their external communications, as well as internally towards their employees, against the backdrop of an ever-evolving modern workplace. The core cloud-based CMS and intranet products are easy to integrate and operate with a range of customisable features which allow clients to tailor the system to their specific needs. Sitevision is in the remarkable position of having achieved Sweden’s highest customer satisfaction score for the 13th year in a row for both its CMS platform and intranet solution, according to the “Web Services Award” report.

IK will be partnering with the co-founders to continue investing in the Company’s technological platform, further strengthen its position among public and private customers in Sweden and drive international expansion in the Nordics and beyond. In addition, IK’s Operations team will support Sitevision in further developing its business operations.

Carl Jakobsson, Director at IK and Advisor to the IK funds, said: “Sitevision is a highly impressive outfit operating in an exciting and growing market space that has been subject to rapidly changing dynamics over the past few years. As organisations consciously adapt to new ways of working, the ability to interact with customers and employees efficiently has never been more critical. Anders and his team have built an outstanding reputation in
Sweden as a provider of a secure, user-friendly, yet highly capable product offering. We look forward to working with them to further grow their offering and expand into neighbouring markets.”

Anders Korsvall, CEO of Sitevision, said: “After twenty years of developing our unique proposition, we are delighted to welcome the IK team as our new partner and a specialist in developing and internationalising high-potential tech-enabled business services companies. Their core values align with ours and just as we prefer to be situated close to our customers, IK’s local presence in Sweden, combined with its international platform and long track record of supporting companies of our size and position, was hugely important to us in selecting this promising partnership. We cannot wait to get started with the team and work together on our ambitious growth plans to continue being the platform of choice and fulfil our brand promise of ‘Tell your world’.

For further questions, please contact:
IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 160 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

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About Sitevision

Sitevision AB is a leading Swedish provider of CMS and Intranet solutions. The headquarters are located in Örebro with sales offices in Stockholm, Gothenburg and Oslo, serving customers all over Sweden and internationally. For more information visit: www.sitevision.se

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ISAI expansion and Keensight Capital sell their stake in Theodo

Isai

ISAI Expansion, the ISAI platform’s Tech Growth and Growth Buyout fund and Keensight Capital, one of the leading private equity managers dedicated to pan-European growth buyout investments, announced today their successful exit from M33, the holding company of the Theodo Group (“the Group”). Theodo’s two founding directors, Benoît Charles-Lavauzelle and Fabrice Bernhard, will be increasing their stake in the Group.

Launched in 2009, the Theodo Group and its 10 specialized enterprises support their clients in their digital transformation using the best technologies and a methodology inspired by lean and agile. Combining speed with high quality, the Group supports large international groups such as Total, Carrefour and BNP Paribas, as well as prestigious, fast-growing enterprises such as Qonto, Cajoo, Made.com and sunday.

Through the active support of its shareholders, the Group has achieved considerable success in recent years, marked by substantial growth, international expansion, team development and the creation of new expertise through internal projects and external growth.

Since the investment of Keensight Capital and ISAI Expansion in March 2018, the Group’s turnover has grown by an average of 30% per year, reaching €64 million in 2021.

In recent years, the Group has developed new expertise with the launch of subsidiaries specialized in Cloud solutions. This includes Padok in 2018, and in 2021, eHealth with Hokla and in Serverless with Aleios. These enterprises complement the Group’s expertise in: web development through Theodo, Theodo UK and Theodo US; mobile through BAM; data and AI through Sicara; and fintech through Sipios.

The Group now benefits from a strong service offering across 10 verticals based in Paris, London, and New York, as well as in Morocco where the Group acquired in 2019 Nimble Ways, a digital solutions and artificial intelligence consulting company. Spanning across three continents, the Group has also expanded locally with the opening of two new offices in Lyon and Nantes in 2021.

Benoît Charles-Lavauzelle and Fabrice Bernhard, Founders and Managing Directors of the Group, said: “We have been fortunate in recent years to have worked with such exceptional partners as Keensight Capital and ISAI. Their involvement and experience have allowed us to achieve our ambitious objectives in terms of growth, expansion in France and abroad, strengthening our team and attracting talent.”

Philippe Crochet, Managing Partner at Keensight Capital, added: “We are delighted to have been able to support Benoît and Fabrice at an important stage in their Group’s development. Thanks to a differentiated service offering with cutting edge technology, an ability to attract new highly qualified talent and – above all – thanks to its two visionary leaders, the Theodo Group is a success and has a very bright future. The Keensight Capital team is proud to have contributed its expertise in the tech sector and its experience in profitable growth strategies.”

Pierre Martini, Managing Partner at ISAI and Head of the Expansion Funds, concluded: “We are very proud of how far we have come working with Benoît and Fabrice. The Group has succeeded in maintaining its DNA and unique values, while simultaneously scaling up considerably. It has continued to attract the talent that will enable it to continue its exceptional growth trajectory in an ever more dynamic market.

About the Theodo Group
The Theodo Group is a consulting and implementation firm in digital technologies. With over 500 employees in Paris, Nantes, Lyon, London, New York and Casablanca, the Theodo Group supports large groups such as BNP Paribas, Carrefour and LVMH, as well as established enterprises such as Qonto, Cajoo and MADE.com.
Founded in 2009 by Benoît Charles-Lavauzelle and Fabrice Bernhard, the Theodo Group today brings together 10 enterprises that all work on creating digital solutions for businesses: Theodo, Theodo UK and Theodo US, Nimble Ways in Morocco for web development, BAM for mobile, Sicara for Big Data and AI, Sipios for fintech, Padok for DevOps, Hokla for health tech and Aleios for Serverless. In 2021, the Theodo Group achieved €64 million in revenue, 50 times more than in 2012.
https://www.m33.tech/ https://www.theodo.fr

Press contacts:
Theodo Group Agathe Lélu – agathel@theodo.fr – + 336 84 15 35 58
Sources Chloé Rossignol – chloe@sources.agency – +336 23 08 11 90

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Zuora Announces $400 Million Strategic Investment from Silver Lake to Accelerate Growth and Extend Leadership in the Subscription Economy

Redwood City, CA – March 2, 2022 – Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced a $400 million strategic investment from Silver Lake, a global leader in technology investing. The partnership reinforces Zuora’s leadership position and will empower Zuora to accelerate growth, including potential targeted acquisitions to expand its quote-to-revenue product portfolio.

“This investment is a validation of the undeniable momentum in the Subscription Economy,” said Tien Tzuo, Founder and CEO at Zuora. “As the market expands, companies are turning to us to assist them to monetize new services, and this partnership will help increase our ability to deliver on this large opportunity.”

Zuora’s Subscription Economy Index™ (SEI) shows that subscription businesses continue to outpace S&P 500 growth rates, achieving 4.6x faster growth1 over the past decade. Across industries, from SaaS disruptors, to established manufacturing incumbents, to digital media brands, companies are recognizing the power and resilience of these new business models.

“Zuora continues to demonstrate it is the clear leader and partner of choice for companies that participate in the vast and growing Subscription Economy,” said Joe Osnoss, Managing Partner at Silver Lake. “New industries continue to join and pursue these new business models. We look forward to helping Zuora accelerate the company’s strategy for the benefit of all stakeholders.”

Upon closing of the Silver Lake investment, Mr. Osnoss will join Zuora’s Board of Directors, bringing extensive strategic business experience.

Under the terms of the agreement, upon the initial closing on or about March 24, 2022, Silver Lake will purchase $250 million aggregate principal amount of convertible senior unsecured notes due 2029, with an initial conversion price of $20.00 per share, subject to customary closing conditions. The notes will bear interest at a rate 3.95% per annum, payable quarterly in cash, provided that Zuora may elect to pay interest in kind at 5.50% per annum payable quarterly. The remaining $150 million is expected to close at a later date within 18 months of the initial closing. Zuora has also agreed to issue Silver Lake warrants to purchase up to 7,500,000 shares of Class A Common Stock, exercisable for a period of seven years, and of which (i) 2,500,000 shares shall be exercisable at $20.00 per share, (ii) 2,500,000 shares shall be exercisable at $22.00 per share and (iii) 2,500,000 shares shall be exercisable at $24.00 per share. Additional information may be found in a Form 8-K that will be filed with the U.S. Securities and Exchange Commission.

This investment comes at a time when Zuora’s growth is accelerating. Today, Zuora reported ARR growth of 20% year-over-year, up from 12% a year ago, and a Dollar Based Retention Rate of 110% for the fourth fiscal quarter of 2022 up from 100% a year ago.

Foros is serving as financial advisor to Zuora and Fenwick & West LLP is serving as Zuora’s legal advisor. Simpson Thacher & Bartlett LLP is serving as Silver Lake’s legal advisor.

 

__________________________
1 “The Subscription Economy Index Report,” Zuora, February 2022

 

Director Biography

 

Joseph Osnoss is a Managing Partner of Silver Lake, which he joined in 2002. From 2010 to 2014, he was based in London, where he co-led the firm’s activities in EMEA. Prior to joining Silver Lake, Mr. Osnoss worked in investment banking at Goldman, Sachs & Co. Mr. Osnoss is currently a member of the board of directors of Carta, Cegid Group, Clubessential Holdings, EverCommerce Inc., where he serves on the compensation committee, First Advantage Corporation, where he is Chairman of the Board and serves on the nominating and corporate governance committee, Global Blue Group Holding AG, where he serves on the nomination and compensation committee, LightBox, and Relativity. He previously served as Chairman of the Board of Cast & Crew Entertainment Services, and as a board director of Instinet Inc., Interactive Data Corporation, Mercury Payment Systems, and Virtu Financial Inc. Additionally, Mr. Osnoss served on the board of directors of Cornerstone OnDemand, Inc. from December 2017 to October 2021, where he served on its nominating and corporate governance committee from January 2018 to October 2021. Mr. Osnoss also served on the board of directors of Sabre Corporation from March 2007 to April 2021 and served on its audit, compensation, and governance and nominating committees, amongst others, during his directorship. Mr. Osnoss received his A.B., summa cum laude, in Applied Mathematics and a citation in French Language from Harvard College. He has remained involved in academics, including as a Visiting Professor in Practice at the London School of Economics; a member of the Dean’s Advisory Cabinet at Harvard’s School of Engineering and Applied Sciences; a participant in The Polsky Center Private Equity Council at the University of Chicago; and a Trustee of Greenwich Academy.

About Silver Lake

Silver Lake is a leading global technology investment firm, with more than USD $90 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe, and Asia. Silver Lake’s portfolio companies collectively generate more than USD $227 billion of revenue annually and employ more than 567,000 people globally. For more information about Silver Lake and its portfolio, please visit Silver Lake’s website at silverlake.com.

About Zuora, Inc.

Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process across billing, collections and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

 

© 2022 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third party trademarks mentioned above are owned by their respective companies.

 

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding Zuora’s business strategy, plans, and objectives for future operations; the investment by Silver Lake, and the use of proceeds and benefits thereof; the expected election of a director; statements regarding the expected growth and trends of subscription-based companies (including companies in the SEI report) and non-subscription based companies; Zuora’s market opportunity, including trends in the pace of the subscription economy; the market for subscription-related products and trends in this market, future growth and related targets; expectations for our industry and business, such as our business model, demand for our products, and expected benefits and scale of our products; and expectations regarding the expansion of our product portfolio, including through acquisitions. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: risks associated with Zuora’s strategies, priorities, or plans taking longer to execute than anticipated; the continuation or tapering of the impact of the COVID-19 pandemic and related public health measures on our business, as well as the continuation or tapering of the impact of the COVID-19 pandemic on the overall economic environment; general market, business, competitive, economic and political conditions, including war, conflict or acts of terrorism, such as the ongoing conflict in Ukraine, and trading prices of our stock as a result of volatility in the market.

 

Additional risks and uncertainties that could affect our financial results are included under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2021, which is available on the “Investors” page of our website at https://investor.zuora.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov. Additional information will also be set forth in our Annual Report on Form 10-K for the year ended January 31, 2022. All forward-looking statements contained herein are based on information available to us as of the date hereof and we do not assume any obligation to update these statements as a result of new information or future events.

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FSN Capital has signed an agreement to acquire a majority stake in Seriline

Fsn Capital

 

FSN Capital has signed an agreement to acquire a majority stake in Seriline, a Swedish provider of Identity and Access Management (IAM) solutions.  

Headquartered in Stockholm, Sweden, Seriline is a fast-growing provider of physical access management solutions, such as physical credentials, card readers, and online identity management systems. The company is owned by the senior management team, Freddie and Pierre Parrman, who will retain a sizable stake in the company. Seriline has 29 FTEs and had SEK 84m in sales in 2021. 

Seriline is expected to be the initial platform for a buy-and-build strategy to create a Nordic cybersecurity leader within IAM, with the company having a pipeline of potential M&A targets in the fragmented market. Today, Seriline has a broad and long-term customer base, including large blue-chip corporations, as well as universities, hospitals, and other public sector institutions. For many, cybersecurity concerns and growing GDPR requirements are driving a focus on physical IAM processes and solutions.  

Erik Nelson, Partner at FSN Capital Partners, commented: “Physical security is a critical element of cybersecurity. As our world becomes more digital, physical and digital security are converging, with Identity and Access Management at the core. Seriline helps customers ensure that the right people can access the right places at the right time. We have been very impressed with the management team and look forward to working with them to build a Northern European cybersecurity leader that contributes to making the world safer and more secure.”  

Simon Larsson, Investment Director at FSN Capital Partners, commented: “Seriline has a strong position in the rapidly growing Identity and Access Management space where it is well-positioned to drive further consolidation in the market. We are very excited to partner up with Freddie Parrman and his experienced team to build a challenger in the European cybersecurity market.” 

Freddie Parrman, CEO at Seriline, commented: “We are super excited to have FSNC as our partner in the journey that we have in front of us. To have this strong partnership will be crucial in the next stage of rapid growth for Seriline. To be an early mover in this market is an advantage that will help us create value and continue to lead the way in serving the evolving security needs of our customers.”

FSN Capital was advised by Applied Value, Bain & Company, KPMG, Frank Partners, Vinge and Marsh. 

 

About Seriline
Seriline was founded in 1990 and is a Swedish-owned company with a focus on identity and access management. By combining the latest technology with many years of experience, Seriline offers proprietary software, online solutions, hardware and services that simplify the flow to creating user-friendly processes for confidentiality and integrity management of identities.  

 

About FSN Capital
Established in 1999, FSN Capital Partners is a leading Northern European private equity firm and investment advisor to the FSN Capital Funds, with €4 billion under management. FSN Capital Funds make control investments in growth-oriented Northern European companies, to support further growth and to transform companies into more sustainable, competitive, international, and profitable entities. Our ethos, “We are decent people making a decent return in a decent way” defines our core values. We are committed to being responsible investors and having a positive environmental and social impact across our portfolio.  FSN Capital Partners has a team of 68 across Stockholm, Oslo, Copenhagen and Munich, in addition to 9 executive advisors with extensive industry experience. Learn more about FSN Capital on: www.fsncapital.com 

 

For more information please contact the following persons at FSN Capital Partners (investment advisor to the FSN Capital Funds): 

Erik Nelson, Partner
en@fsncapital.com 

Simon Larsson, Investment Director
sl@fsncapital.com

Morten Welo, Partner & COO/IR
mw@fsncapital.com 

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Ardian announces the sale of its stake in MBK Fincom (ProduceShop) to Gilde Buy Out Partners

Ardian

Ardian, a world-leading private investment house, announces that it has sold its stake in MBK Fincom (“MBK”), known as ProduceShop.

MBK, based in Switzerland, has developed a data-driven technology platform to create a new e-commerce model that gives customers access to a wide range of products. Leveraging its expertise in data analytics, MBK develops and markets its own digital brands across Europe and offers the best value for money for a wide range products, ranging from home furnishings, gardening and fitness equipment.

Alongside its 29 proprietary brands, MBK also sells products from partner brands on its ProduceShop website. MBK’s European presence is growing, with the company now selling in 24 countries, including Italy, France, Germany, Spain, Austria and Switzerland.

Since Ardian Growth took a stake in the company in 2020, MBK has tripled its revenues by accelerating its international development and diversifying its product offerings. It has also strengthened its technological expertise by investing in software tools.

“The partnership with Ardian has enabled us to accelerate our development,. Subsequently, we have rapidly taken on a European dimension while strengthening our internal resources, both human and technological. We are now entering a new chapter in our history and we look forward to working with Gilde in this new stage.” The Co-Founders, MBK

“We were very pleased to work with and support the growth of MBK. This is a perfect example of the entrepreneurial journeys we wish to support: ambitious founders and managers who aim for international development. This transaction follows several European investments in the digital sector, notably in Italy and Germany, and demonstrates our ability to be a strategic partner for European entrepreneurs. We would like to thank the entire MBK team.” Romain Chiudini, Managing Director within the Ardian Growth Team

“MBK is a perfect example of entrepreneurs who continue to innovate, even in the e-commerce market. Thanks to our multi-local European network, recently strengthened by a presence in Italy, and our cross-fertilisation expertise within Ardian’s Growth team, we identify talented entrepreneurs and act as a partner in scaling them up.” Bertrand Schapiro, Managing Director within the Ardian Growth Team

LIST OF PARTICIPANTS

  • ARDIAN

    • ROMAIN CHIUDINI, BERTRAND SCHAPIRO, OLIVIER ROY

ABOUT ARDIAN

Ardian is one of the world’s leading private equity firms with $125 billion under management and/or advice in Europe, America and Asia. The company, which is majority-owned by its employees, has always placed entrepreneurship at the heart of its approach and offers its international investors a first-class performance.
Through its commitment to sharing the value created with all stakeholders, Ardian contributes to the growth of companies and economies around the world.
Building on its values of excellence, loyalty and entrepreneurship, Ardian has an international network of over 780 employees in 15 offices in Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco), South America (Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The firm manages funds for 1,200 clients through its five investment pillars: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

https://www.ardian.com/

ABOUT MBK FINCOM

MBK Fincom is a dynamic and technology-driven e-commerce company based in Switzerland, active in the sale of home & living branded goods, Europe-wide. MBK co-designs and improves the features of its products in order to offer consumers the best value-for-money option. The mission of MBK is to simplify the online process of research and purchase, including free home delivery. The variety of articles, together with the attention to quality and design, has allowed MBK to grow rapidly into a prominent European leader in the sector.

https://mbkfincom.com/

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Apax Funds to acquire Alcumus

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Apax

Funds advised by Apax Partners LLP (the “Apax”) announced today that they have reached a definitive agreement to acquire a controlling stake in Alcumus (or “the Company”), a global leader in technology-led risk management and compliance solutions, from Inflexion. The Company’s management team will remain significant shareholders in the business following the transaction. The transaction is subject to customary closing conditions and is expected to close end of Q1 2022. Financial terms were not disclosed.

Alcumus helps organisations of all sizes anticipate, manage, and avoid risks, thereby improving outcomes for employees and company operations. Alcumus has a unique breadth of technology-enabled services, providing solutions to over 42,000 contractor and supplier customers, and over 3,000 enterprises. These services are critical in improving worker protection and compliance with regulations and international standards. Apax’s expertise across software, services, ESG and digitisation, ideally positions it to partner with Alcumus’s management team in the next stage of the Company’s evolution.

Alyn Franklin, CEO, Alcumus, said: “I’m so proud of what we have been able to achieve already to-date and am confident we have the right strategic partner in Apax to support our next phase of growth. The solutions Alcumus provide are trusted around the world, from our expanding member base of SME’s through to some of the most prominent, international enterprise brands.  Now Apax will help us unlock even more value from our chosen markets.”

Frank Ehmer, Partner, Apax, commented: “EHS services is a sector Apax knows well having followed the space for a number of years, and we have long considered Alcumus as a stand-out player in this market. We believe Alyn, senior management, and the entire employee base of Alcumus, represent a best-in-class team, who are set to continue and accelerate their strong track record.”

Anders Meyerhoff, Partner, Apax, added: “We have been incredibly impressed with the high-quality business and culture that Alyn and his team have built. We are excited to partner with such great people and look forward to further supporting Alcumus and all the employees as they create a safer and more sustainable world.”

Apax was advised by Allen & Overy LLP (lead counsel), Houlihan Lokey (lead financial advisor), the Boston Consulting Group (commercial advisor) and Deloitte (financial and tax advisor). Alcumus was advised by Eversheds Sutherland LLP (legal advisor) and Harris Williams & Co. (financial advisor).

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Onex Partners to Invest in Analytic Partners

Onex

Toronto, ON, New York, NY, February 8, 2022 – Onex Corporation (“Onex”) (TSX: ONEX)
today announced that Onex Partners V, Onex’ $7.2 billion fund, has agreed to make a significant
investment in Analytic Partners, Inc. (“Analytic Partners” or the “company”) in partnership with
the company’s founder.

Analytic Partners is a leading cloud-based, managed software platform which helps global F1000
customers assess marketing spend effectiveness and optimize future allocations across offline and
online media channels. Founded in 2000 and headquartered in Miami, Florida, Analytic Partners
deploys its solutions, supported by a proprietary longitudinal dataset, across 55 countries with
approximately 270 employees throughout 14 offices globally. In The Forrester Wave™:
Marketing Measurement and Optimization Q1 2022 report, Analytic Partners was named a Leader
and was top ranked in the Strategy category among all evaluated vendors.

“We are delighted to add the intellectual and financial firepower of Onex Partners to Analytic
Partners to further accelerate our growth,” said Nancy Smith, Founder, President and CEO of
Analytic Partners. “Our partnership with Onex Partners aligns perfectly with our core values of
People, Passion and Growth. Through our employee equity plan I am proud to announce that
every member of our team will benefit from this investment. Our customers, who are the
motivation for our Passion, will also benefit greatly as our partnership with Onex Partners will
further accelerate our technology leadership, drive more innovation, and help us deliver the
solutions our clients need to Adapt, Evolve and Thrive in a rapidly changing marketing landscape.
This is a true win/win/win for our customers, our team and our partners.”
“We feel incredibly privileged that Nancy has chosen us as her partner to continue building
Analytic Partners. The company’s GPS Enterprise managed software solution, supported by its
proprietary ROI Genome dataset and analytical capabilities, have allowed Analytic Partners to
provide a compelling value proposition to its customers and we expect this to continue,” said Kosty

Gilis, a Managing Director at Onex Partners. “We are extremely enthusiastic about the company’s
prospects as the need to accurately assess the effectiveness of marketing campaigns will continue
to grow which, combined with the opportunity to further leverage Analytic Partners’ capabilities
across a wider range of end markets and geographies, presents a compelling value creation
opportunity over the coming years.”
The transaction is anticipated to close later this year subject to customary closing conditions. The
terms of the transaction are not being disclosed at this time.

On this transaction, Goldman Sachs & Co. LLC acted as exclusive financial advisor and Willkie
Farr & Gallagher LLP acted as legal counsel to Analytic Partners. Latham & Watkins LLP acted
as legal counsel to Onex Partners.

About Onex
Founded in 1984, Onex manages and invests capital on behalf of its shareholders, institutional
investors and high net worth clients from around the world. Onex’ platforms include: Onex
Partners, private equity funds focused on mid- to large-cap opportunities in North America and
Western Europe; ONCAP, private equity funds focused on middle market and smaller
opportunities in North America; Onex Credit, which manages primarily non-investment grade debt
through tradeable, private and opportunistic credit strategies as well as actively managed public
equity and public credit funds; and Gluskin Sheff’s wealth management services. In total, as of
September 30, 2021, Onex has approximately $47 billion of assets under management, of which
approximately $7.9 billion is its own investing capital. With offices in Toronto, New York, New
Jersey, Boston and London, Onex and its experienced management teams are collectively the
largest investors across Onex’ platforms.
Onex shares trade on the Toronto Stock Exchange under the stock symbol ONEX. For more
information on Onex, visit its website at www.onex.com. Onex’ security filings can also be
accessed at www.sedar.com.

About Analytic Partners
Analytic Partners is the leading cloud-based, managed software platform which provides adaptive
solutions for deeper business understanding and right-time planning & optimization for marketing
and beyond. We turn data into expertise so that our clients can create powerful connections with
their customers and achieve commercial success. For more information on Analytic Partners, visit
its website at www.analyticpartners.com.

Forward-Looking Statements
This press release may contain, without limitation, statements concerning possible or assumed
future operations, performance or results preceded by, followed by or that include words such as
“believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and words of
similar connotation, which would constitute forward-looking statements. Forward-looking
statements are not guarantees. The reader should not place undue reliance on forward-looking
statements and information because they involve significant and diverse risks and uncertainties
that may cause actual operations, performance or results to be materially different from those
indicated in these forward-looking statements. Except as may be required by Canadian securities
law, Onex is under no obligation to update any forward-looking statements contained herein
should material facts change due to new information, future events or other factors. These
cautionary statements expressly qualify all forward-looking statements in this press release.

For Further Information:
Onex
Jill Homenuk
Managing Director – Shareholder Relations
and Communications
+1 416.362.7711
Analytic Partners
Kendall Allen Rockwell
WIT Strategy
kallen@witstrategy.com

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Baird Capital Portfolio Company Vitalyst Sold to Alithya

Baird Capital
Today, Baird Capital announced portfolio company Vitayst has been sold to Alithya, a leader in strategy and digital transformation. Baird Capital engaged with investment bank G2 Capital Partners on the sale process.Founded in 1992, Vitalyst is an award-winning Microsoft Gold Partner that provides best-in-class employee experience and transformative change enablement services via an on-demand, subscription-based training platform. Vitalyst serves as a strategic partner to a diverse base of Fortune 1000 blue-chip customers across a wide variety of industries. The company is headquartered in Bala Cynwyd, Penn., and serves customers throughout the United States as well as in over 20 countries. Baird Capital initially invested in Vitalyst, formerly known as PC Helps, in September of 2012.

Learn more about the acquisition. Learn more about Baird Capital’s Technology & Services sector expertise.

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Cegeka and data specialist Solver Sweden join forces

GIMV

03/02/2022 – 10:00 | Portfolio

European IT company Cegeka acquires a majority stake in the data specialist Solver Sweden AB. This strategic partnership with Solver Sweden represents an important step for Cegeka in their expansion into Scandinavia. Solver Sweden has three offices in Sweden, with headquarters in Stockholm and a staff of 25 employees. Solver Sweden has been an established player in the Swedish business intelligence and data engineering market for over 15 years. No financial details of the partnership will be disclosed. The acquisition doesn’t include the Global Solver operations.

Data is playing an increasingly important role
The partnership with the company Solver Sweden is part of Cegeka’s strategy to respond to the ever-growing demand for data and AI partners. “Now more than ever, companies are looking for guidance from experts with experience in data and AI. There is a lot of growth potential in Europe, and especially in Scandinavia. Solver Sweden offer this kind of expertise, and their team in Stockholm and the offices in Gälve and Falun have plenty of data experience to draw on,” says Kristel Demotte, Global VP Data Solutions at Cegeka. Solver Sweden has also been rewarded by Microsoft as a Gold Partner for Data Analytics.

Data is the most valuable asset an organisation can have to achieve growth in today’s business environment. With drivers such as 5G and the cloud, the importance of data can only continue to grow. “I truly believe that companies whose thoughts and actions are driven by data have an edge over the competition – they can offer their customers a more individual and efficient service and can generate new revenue and optimise operational costs”, Kristel says.

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