Tag Archives: Information technology

Latour acquires HK Instruments Oy

Latour logo
2021-05-27 08:30

Investment AB Latour (publ) has, through its subsidiary Produal Holdings, acquired HK Instruments Oy, based in Finland. Produal is part of Bemsiq AB, a group of innovative and fast-growing companies providing products in building automation and metering.

HK Instruments, with head office and manufacturing in Muurame, Finland, was founded in 1987 and offers advanced measuring devices for building automation. The company specializes in technologically advanced measuring devices for HVAC applications, including differential pressure transmitters, switches, meters for liquids, gas detection sensors, and more. Total revenues in 2020 amounted to EUR 8 m with 50 employees.

“HK Instruments is a high-quality company in terms of both people and products. We have known the company for many years and are very impressed by their accomplishment. We see great potential to continue developing the company together”, says Anselmi Immonen, CEO at Produal Oy.

“For us, Produal and Bemsiq are the perfect strategic long-term partners. Their extensive product portfolio and industry network combined with the wide distribution channel and global brand presence of HK Instruments give great opportunities for all companies. We are very keen to continue our journey together with them”, says Jukka Kalliomäki, CEO of HK Instruments.

As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of March 2021, to around SEK 6.0 billion, all else equal.

The acquisition will be completed in June 2021.

Göteborg, May 27, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Mikael J Albrektsson, CEO Bemsiq AB, +46 733 23 3606
Anselmi Immonen, CEO Produal Oy, +358 509 11 80 68
Ida Saalman, Business Development Investment AB Latour, +46 727 22 8869

Bemsiq AB, with headquarters in Gothenburg, Sweden, has an annual turnover of SEK 725 m and employs about 270 persons. Bemsiq consists of a group of innovative and fast-growing companies providing products in building automation and metering and is a subsidiary of Latour Industries, which is one of five wholly-owned business areas within the Latour Group.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 79 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.

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Bloomerang Appoints Three New Members to its Board of Directors

JMI Equity

Additions bolster fundraising and people expertise

INDIANAPOLIS, May 27, 2021 /PRNewswire/ — Bloomerang, the donor management software provider to thousands of nonprofits, today announced the appointment of three new members to its board of directors.

Natalye Paquin and Pamela Perry have joined as Board Members. Kishshana Palmer, CFRE has joined as a Board Advisor.

“We are so excited to add voices and perspectives to the board that represent the two most valuable stakeholders to our business: professional fundraisers and our employees,” said Ross Hendrickson, CEO of Bloomerang. “Natalye and Kishshana were called to serve due to their extensive nonprofit backgrounds, and Pam to help make us a best place to work.”

Natalye Paquin currently serves as the President and Chief Executive Officer of the Points of Light Foundation, the largest nonprofit in the world dedicated to volunteerism and community service. Founded in 1990 by President George H.W. Bush as an independent, nonpartisan, nonprofit organization to encourage and empower the spirit of service, Points of Light works with affiliate organizations throughout the United States and in more than 30 countries around the world. Natalye has more than 10 years experience as a Corporate Board Director of two regional banks, and has served in senior executive roles in the public sector, including as an attorney and legal advisor.

Pamela Perry currently serves as CEO of HR Equity Inc., a strategic human resources organization focused on building value for private and venture capital-backed tech companies. An HR veteran, she previously served as Chief People Officer for automotiveMastermind Inc. and Kareo.

Kishshana Palmer, CFRE is an international speaker, trainer, and coach with a 20+ year background in fundraising, marketing, and talent management who helps leaders create high performing teams. She is the founder of The Rooted Collaborative — a global community focused on the growth and development of women leaders of color in the social sector. She’s the host of the podcast “Let’s Take This Offline”, an adjunct professor at Baruch College, a Certified Fundraising Executive (CFRE), a BoardSource Certified Governance Trainer (CGT), A Gallup Certified Strengths Coach and an AFP Master Trainer.

“By adding Natalye, Pam and Kishshana, Bloomerang now has a board that more accurately represents our customers, as well as a board that will help us better serve our customers so that they can make an even bigger impact on the world,” said Jay Love, Co-Founder of Bloomerang.

The three new members join Larry Contrella, Principal at JMI Equity, David Greenberg, General Partner at JMI Equity, Vinny Prajka, Partner at JMI Equity, Jay Love, Co-Founder of Bloomerang, and current Bloomerang CEO Ross Hendrickson.

The announcement builds on a strong year of momentum for the company. Last January Bloomerang announced their acquisition of Kindful, a nonprofit software platform known for its best-in-class third party application integrations and online fundraising tools. With a combined customer base in the tens of thousands, both the Bloomerang and Kindful products maintain stellar customer satisfaction ratings on the leading peer review websites.

About Bloomerang
Indianapolis-based Bloomerang is a cloud-based donor management software tool designed to help nonprofits reach, engage and retain the advocates they depend on to achieve their vision for a better world. For more information about Bloomerang, visit: https://bloomerang.co

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CVC Credit supports Sole Source Capital’s acquisition of Peak-Ryzex and Optical Phusion Inc.

CVC Credit will support the acquisition and organic growth strategy for the combined entity

CVC Credit (“CVC Credit”) is pleased to have provided the debt facility to support Sole Source Capital’s acquisition of Peak-Ryzex (“Peak” or “the Company”) and subsequent add-on acquisition of Optical Phusion, Inc. (“OPI”).  The companies will be merged to create an enhanced market leader in automatic identification data capture (“AIDC”) and factory automation solutions.  CVC Credit will support the growth strategy for the combined business going forward through the provision of a delayed draw term loan facility.

The combination will yield significant technological and operational synergies as well as deliver enhanced cross-selling opportunities to a broad set of clients ranging from small and medium-sized businesses to Fortune 500 companies—all seeking supply-chain logistical support. Peak Ryzex’s position will be further enhanced by OPI’s self-service kiosk, enterprise mobility and wireless technology integration expertise, which allows its clients to fulfil and finalize transactions more quickly and easily.

Headquartered in Columbia, MD, Peak-Ryzex provides critical technology that allows businesses to become more efficient and responsive. The Company is a premier value-added reseller of barcoding, data collection, and factory automation equipment, delivering innovative digital supply chain and mobile workforce solutions across North America and Europe. The Company provides knowledgeable sales and information technology expertise to customers purchasing AIDC equipment across multiple end markets including food processing/distribution, grocery, healthcare, e-commerce, industrial and manufacturing, among others.

Based in Littleton, MA, Optical Phusion is a solution provider of AIDC hardware equipment and software solutions primarily to the grocery, pharmacy and retail end markets. OPI specialises in helping customers solve business challenges and manage the entire lifecycle of supply chain solutions such as e-commerce, click and collect, interactive kiosk, personal shopping solutions, RFID, mobility, and wireless technology projects.

Juliann Larimer, Chief Executive Officer, Peak-Ryzex, commented: “CVC Credit’s support, in partnership with our new private equity sponsor, has already proven essential in getting the Optical Phusion acquisition across the line and will be equally important in the years ahead as we continue to grow the business.”

Scott Sussman, Partner, M&A at Sole Source Capital, added: “The CVC Credit team understands our operating objectives and provides a seamless and reliable partnership day in and day out. We are very pleased to have secured their support for our growth ambitions at Peak-Ryzex.”

Andrew Eversfield, Managing Director in CVC Credit’s U.S. Private Debt business, said: “Peak-Ryzex has a robust and sustainable business model and a clear strategy for growth, we are excited to be able to support the Company. This is the second Sole Source Capital platform transaction we have partnered on in the last six months and we are pleased to again have the opportunity to team up with this high-quality sponsor.”

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KKR Makes $55 Million Investment in eSSENTIAL Accessibility

KKR

May 26, 2021

Leading Digital Accessibility Platform drives Greater Inclusion of People with Disabilities

TORONTO & NEW YORK–(BUSINESS WIRE)– KKR today announced a $55 million investment in eSSENTIAL Accessibility (“eA” or the “Company”), the pioneering provider of Accessibility-as-a-Service. As the digital divide for people with disabilities expands and the number of companies facing Americans with Disabilities Act (ADA)-related litigation continues to skyrocket, eA’s digital accessibility platform addresses the growing demand for a comprehensive, sustainable solution.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210526005400/en/

“As our dependency on digital connection increases, inclusive experiences have never been more critical – a need we are laser-focused on addressing,” said Mark Steele, Co-Founder and CEO at eSSENTIAL Accessibility. “This financial and strategic support from KKR will enable us to scale our technology, processes and human expertise even faster, meeting the increasing demand for accessible online content and better supporting our customers’ commitments to disability, equality and inclusion programs.”

It is estimated there are more than 1.7 billion websites and mobile apps today, with 500,000 new websites created daily. Yet the vast majority contain barriers for individuals with disabilities, contributing to the rising number of legal claims against companies that have yet to solve this problem. eSSENTIAL Accessibility’s platform provides the tools, technology and training needed to fix accessibility from design to code, ensuring online equality against the backdrop of more than one billion people worldwide who are living with a disability.

Through a comprehensive platform of software and tech-enabled services, eSSENTIAL Accessibility is an end-to-end solution that ensures digital assets, such as websites, mobile applications, and software products, offer a seamless online user experience for individuals with disabilities. This helps organizations achieve and maintain compliance with applicable regulatory requirements through conformance with the Web Content Accessibility Guidelines (WCAG).

“eSSENTIAL Accessibility provides companies with a complete platform of technology capabilities, user experience design and DevOps integrations, subject matter experts, legal guidance and training, helping them become truly accessible to people with disabilities,” said Ben Pederson, Principal at KKR.

Jake Heller, Head of KKR’s Technology Growth team in the Americas, added: “We are thrilled to be investing in eA and look forward to leveraging KKR’s network and resources to support the company’s growth and expansion.”

KKR is making its investment through its Next Generation Technology Growth Fund II, a global fund dedicated to growth equity investments in the technology space.

About eSSENTIAL Accessibility

eSSENTIAL Accessibility is the smarter way to digital accessibility and legal compliance. As the leading Accessibility-as-a-Service platform, it enables brands to empower people by helping them deliver inclusive web, mobile, and product experiences that comply with global regulations and ensure that people of all abilities have equal access. Learn more at www.essentialaccessibility.com.

About KKR

KKR is a leading global investment firm that offers alternative asset management and 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 The 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.

Media
For eSSENTIAL Accessibility:
Ian Lowe
(705) 796-6494
ilowe@essentialaccessibility.com

For KKR:
Cara Major or Miles Radcliffe-Trenner
(212) 750-8300
media@kkr.com

Source: KKR

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British artificial intelligence company Faculty raises £30m of growth funding to deliver “AI as a Service” globally

Apax Digital

Faculty, a leading British artificial intelligence (AI) company, today announced that it has raised £30m in growth funding from the Apax Digital Fund (“ADF”). It is the largest investment Faculty has accepted to date, and brings total investment to nearly £40m.

The funding will be used to drive the expansion of Faculty’s pioneering “AI as a Service” model. From helping companies optimise marketing spend and more accurately forecasting demand for consumer goods, to predicting pressures on the healthcare system during a pandemic, Faculty’s “AI as a Service” model can be applied to a broad range of problems for both public and private sector organisations. It enables customers to customise powerful AI solutions to their needs, with the ongoing training and support that guarantees safe and high-performance AI over the long term.

The investment will support the next phase of the company’s growth over the coming years. In delivering its vision for “AI as a Service”, Faculty will continue to enhance its technology offering and expects to create over 400 new jobs across its engineering, product and delivery teams. The investment will also be put towards the rollout of Faculty’s new learning and development programme that will sit at the centre of the business to help develop technical and commercial talent as the company scales.

Marc Warner, CEO & Co-Founder of Faculty, said:

“It’s an incredibly exciting time for artificial intelligence, and for Faculty in particular. Too many organisations haven’t been able to realise the value of AI, because they haven’t had the tools to integrate it successfully into their business. Customers are rightly demanding high performance technology to unlock the power of data and maximise impact. Faculty can help elevate an organisation’s performance, whether this enables better operational decisions, or increasing ROI. Apax’s expertise and global network means we will continue to grow at pace, bringing the power of AI to even more customers, helping them to make effective, robust decisions with real-world impact.”

The funding will also accelerate Faculty’s international expansion. The company is already working across five continents and is seeing growing global customer demand for its safe and customised AI solutions.

Founded in 2014 by Dr Marc Warner, Dr Angie Ma and Andrew Brookes, Faculty has grown rapidly to become one of the world’s most experienced teams of AI and ML specialists, able to support any organisation to make AI effective and drive value. The company has a specialist team that includes over 50+ PhDs with experience of working with over 230 customers across the globe.

Faculty has sustained strong growth during the COVID-19 pandemic, winning 52 new customers in the last financial year including the National Crime Agency, Red Bull, Virgin Media, Moonpig, and a two-year partnership with NHS England and NHS Improvement to help them to build forecasting capabilities and improve data-driven decision-making. The company recently made headlines for its critical work enabling the NHS to divert resources to areas worst affected by the pandemic ahead of time.

Mark Beith, Partner at Apax Digital, who joins Faculty’s board of directors, said:

“Faculty is a world-leading AI company with cutting-edge technology, inspiring people and culture, and with phenomenal customer feedback. They enable customers to realise the tremendous value of AI quickly but responsibly, providing robust, fair and explainable AI, with advanced data privacy. We have seen the power and impact of their solutions first-hand, as a client, and are thrilled to partner with Marc, Angie, Andy and the team to support their global expansion.”

The Apax Digital Fund joins Faculty’s existing investors, including GMG Ventures LP, LocalGlobe, and Jaan Tallinn, one of Skype’s founding engineers.

About Faculty

Faculty is a leading British AI company that helps organisations who have the scale, data, and foresight to adopt AI into their business. We’re helping make AI real across society by providing a unique combination of strategy, software, and skills to our customers: everything needed to successfully create value from AI. Founder-led and with over 50 PhDs, we are a team of specialists that has worked with over 230 organisations to make AI real.

Faculty is headquartered in London and is backed by investors that include GMG Ventures LP, LocalGlobe and Jaan Tallinn, one of Skype’s founding engineers. Faculty is one of the fastest growing private British technology companies and is recognised for its sales growth in The Sunday Times 2020 Tech Track 100 list.

About Apax and Apax Digital

The Apax Digital Fund, which is advised by Apax Partners LLP (“Apax”) specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide.

The Apax Digital team leverages Apax’s deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit: apaxdigital.com.

Apax is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: apax.com.

Company

Faculty

Global media contact

Katarina Sallerfors

t: +44 20 7872 6300

Luke Charalambous

t: +44 20 7872 6300

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Mentha Capital expands in occupational health and safety services through its acquisition of ENRGY

Mentha

Investor Mentha Capital has acquired the shares of ENRGY in Business Group. At the start of 2020, Mentha established its position in the market with a majority stake in paraDIGMA Groep. Both companies, operating in the field of absenteeism and sustainable employability, will continue to operate under their own brand name, services, organisation and locations. The transaction is subject to the approval of the Dutch Healthcare Authority (NZa).

ENRGY is a fast-growing health and safety service, and with 200 professionals, helps its clients as a strategic and executive partner in structurally reducing absenteeism. In its services, ENRGY places a strong emphasis on the variables that determine sustainable work ability, summarised in The House of Work Ability. The founders and directors Marcel Houtman, Hidde Froentjes and Martijn ten Bokum will remain actively operationally involved and become co-shareholders in the Group Holding over ENRGY and paraDIGMA.

Marcel Houtman, ENRGY: “We are very pleased to have taken this step. Mentha can properly support us in continuing our growth and innovation ambitions, while our strong culture and vision is maintained. This enables us to build on our ultimate dream to allow the entire working Netherlands to take control of work capacity, with reduced absenteeism and increased job satisfaction as the goal. We believe that with the attractive propositions, knowledge and expertise of both companies, we are creating a powerhouse of innovation, in order to be able to respond to the rapidly changing market and to enhance the service we provide to our customers and clients.”

paraDIGMA Groep is a distinctive group of companies operating in the field of sustainable employability, active through a nationwide network and more than 600 employees. The Working Conditions Service division (De Arbodienst) is an occupational health and safety service provider with an unconventional view on absenteeism, which leads to progressive and highly effective absenteeism and health policies within organisations. The other components offer, among other things, psychological interventions, outplacement and reintegration, work-related research and advice, and company training. The company was founded in 2003 by Rudo Vissers, who is still active as managing director of paraDIGMA Groep and co-shareholder of the group holding.

Rudo Vissers, paraDIGMA Groep: “We are impressed by the solid position which ENRGY has attained in the market in recent years. From their own unique approach, ENERGY and paraDIGMA share a common vision on the subject of work and health. Both companies realise the great importance of culture and leadership in organisations in increasing employability and structurally reducing absenteeism, and proritise a high-quality medical basis and personal attention for clients.”

Mentha Capital invests in established, profitable companies which demonstrate clear potential for further expansion through organic growth, expansion into new markets and/or acquisitions. Mentha has 15 participating interests, active in various end markets.

Barend Rutten, Mentha Capital: “We are pleased to enter into a partnership with ENRGY. Sustainable employabiity is an increasingly important theme for companies and society at large. The market is in full swing and provides many opportunities. Mentha is happy to assist both companies in fulfilling their organic and acquisitive growth ambitions.”

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Climate intelligence startup Cervest snaps up $30m in Series A funding

Cervest has raised $30m in a Series A funding round to expand its AI-powered climate intelligence platform into the US and European markets.

The startup’s platform provides a model for assessing climate risk, such as flooding and forest fires, to a physical asset.

Cervest claims its EarthScan product can give enterprises and governments climate insights on areas the size of a building going forward 80 years to help manage assets or inform construction decisions.

The Series A brings Cervest’s total funding to $36.2m. Draper Esprit led the financing round and was joined by existing investors Astanor Ventures, Lowercarbon Capital and Future Positive Capital.

New investors in the oversubscribed round include the venture fund of Salesforce CEO Marc Benioff, TIME Ventures, along with UNTITLED, the venture fund of Magnus Rausing, heir to the Tetra Pak fortune.

Cervest’s platform is available via a freemium model in which anyone can access basic climate intelligent features. Paying customers such as consultancy firms, insurers and policymakers have access to more granular data and more frequent updates. Its data is gathered from public and private sources.

“Climate Intelligence is business Intelligence for managing climate risk,” said Iggy Bassi, founder and CEO of Cervest. “Climate volatility has thrown us into a new era where Climate Intelligence needs to be integrated into all decisions. Organizations that fail to do so risk being blindsided by climate events such as the recent floods and fires in Australia, the droughts in Europe, and the winter freeze in Texas.”

Bassi founded Cervest in 2016 after unpredictable strong winds flattened a $6m mill and flash floods destroyed an entire season’s crops on his sustainable farm in Ghana, West Africa. The lack of reliable climate data turned him to AI. The startup brought in data scientists from Imperial College London to solve the complex mathematical problem of marrying fragmented data.

“What we realised [is that] somebody needs to fuse together all these world scientists on a single platform, which meant a huge amount of data engineering,” Bassi told Verdict Magazine in an interview last year. “And underpinning that is a huge amount of domain knowledge, particularly around physical sciences.”

A handful of other startups, such as Tractable, have turned to AI to provide climate risk solutions. But Bassi believes his platform’s ability to look at climate risk as “collective whole” sets his company apart.

“Climate Tech has grabbed a lot of attention recently, with good reason. But solutions come from understanding the problem – Climate Intelligence is a new $40 billion market category which seeks to provide us with answers,” said Vinoth Jayakumar, partner and fintech practice lead at Draper Esprit.

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CapMan Growth and Mandatum to accelerate Sofigate’s growth

Capman

Sofigate to boost its turnover towards EUR 500 million

Sofigate, the business technology transformation company, will be boosted by two private equity investors when CapMan Growth and Mandatum Private Equity become minority shareholders in the company. With their decision, the new owners are showing trust in a fast-growing digital transformation expert that combines program leadership, continuous management of business change and modern technology platforms. Sofigate aims for an annual turnover of EUR 500 million by 2025.

“CapMan and Mandatum bring financial and capital market expertise to the company, which will enable us to accelerate our growth. Company acquisitions are part of the strategy, and private equity investors ensure that financing is available when needed,” says Sofigate CEO Sami Karkkila.

Sofigate has grown rapidly in recent years. In five years, the company increased its turnover fivefold to the current level of EUR 100 million. Maintaining a similar growth rate requires both rapid organic growth and acquisitions.

Business technology a hot topic

The business technology sector is predicted to grow rapidly in the Nordic countries as well. The Covid-19 pandemic has accelerated digitalisation and spurred companies to invest even more in their digital processes.

“As a strategic investor, we see great potential in the development of Sofigate’s operations on the path the company has chosen. Sofigate operates in strong growth markets, and these are further intensified by the transformation brought about by digitalisation. As private equity investors, we bring considerable added value by significantly accelerating the implementation of Sofigate’s internationalisation and acquisition strategies,” says CapMan Growth Managing Partner Juha Mikkola of the company’s future.

“As technology takes centre stage in business operations across industries, the winners will be companies that understand the relationships between technology and strategy, business operations and product development. In this digitalisation-driven market, Sofigate has a strong position in Finland and significant growth potential in other Nordic countries. As a strategic investor and in addition to our financial investment, we provide Sofigate with access to our growth strategy and acquisition expertise,” says Alexander Antas, head of Mandatum Private Equity.

Strong ownership by staff also

In addition to CapMan and Mandatum, Sofigate is owned by LähiTapiola, the company’s founders, and a significant number of its personnel. Institutional investors now own a little less than one-fifth of Sofigate in total. Even after the transaction, Sofigate is to a large extent owned by its employees.

“The investments will also strengthen the composition of the board, which will increase the company’s ability to develop its operations. We are ready to implement the chosen growth strategy both operationally and at the board level, and we will be able to move very quickly if necessary,” says Karkkila.

Sofigate was founded in 2003 as an IT management service provider, but has gradually grown into the leading business technology transformation expert in the Nordic countries. A key driver of that growth has been the digital revolution in business, which has forced customers to make their traditional operations technology-driven.

“We offer customers technological expertise and transformation management in one package,” Karkkila says. “We are a pioneer in combining the best technologies, people and management models.”

For more information, please contact:

Juha Mikkola, Managing Partner, CapMan Growth
juha.mikkola[a]capman.com
Tel. +358 50 590 0522

Sami Karkkila, CEO, Sofigate
sami.karkkila[a]sofigate.com
Tel. +358 400 805 446

Sofigate is a business technology transformation company with approximately 600 employees in Finland, Sweden and Denmark. Sofigate helps its customers develop the interplay between business and technology: to design, build and implement transformations and business-friendly technology solutions. The company utilizes the Business Technology Standard and the world’s leading technology platforms such as ServiceNow, Salesforce, SAP, Oracle and Google Cloud.

CapMan Growth is a leading Finnish growth investor. The team’s second MEUR 97 fund, CapMan Growth II established in 2020, makes significant minority investments in growth stage companies with ambitious growth and expansion goals. CapMan is part of CapMan Group, a leading Nordic private asset expert with an active approach to value creation. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to €4 billion in assets under management, we have a broad presence in the unlisted market through our local and specialised teams. 

Mandatum Private Equity (MPE) is a Finnish growth oriented investor with ca. 160m EUR of AUM. MPE focuses on significant minority investments in Finnish and Nordic privately held companies with proven business models and strong growth ambitions. Mandatum Private Equity is part of Mandatum Asset Management (MAM), a new asset management company that was formed by combining Sampo Group’s proprietary balance sheet, client assets, and investment operations from Sampo Plc and Mandatum Life. MAM leverages Sampo’s investment heritage as one of the most successful institutional investors in the Nordic region. MAM manages ca. 24bn EUR and employs ca. 100 investment professionals. MAM belongs to the Sampo Group.

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Accounting SaaS Regate.io announces 7M€ funding round

360 Capital

Paris based SaaS platform Regate.io raises 7M€ round to facilitate and automate accounting workflows for CFOs and accountants, including invoicing, expense management and payments. 360 Capital leads the round, alongside Financière Saint James and renowned BA including Alexis Bonillo, Pierre-François Thaler, Antoine Bello and Constantin Wolfrom.

Founded in 2019 by Alexis Renard and Laura Pallier, Regate.io aims at simplifying accounting processes by providing able to integrate and automate enterprise accounting tools.

With this round, Regate.io will accelerate its product development and deployment, as well as focus on building its team.

We are delighted to support the fantastic duo composed of Alexis and Laura in this new entrepreneurial adventure, bringing together the experience of a successful serial entrepreneur and a real understanding of the market needs.

Emanuele Levi, Partner at 360 Capital

 

Read the full press release here.

 

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Astorg and Bridgepoint acquire financial software company Fenergo

Bridgepoint

Dublin, 18th May 2021 – Astorg and Bridgepoint are pleased to announce that they have signed a definitive agreement alongside Fenergo’s management team to acquire Fenergo, the leading provider of Know-Your-Customer (KYC) and Client Lifecycle Management (CLM) software solutions for financial institutions, from Insight Partners. The acquisition follows a period of strong expansion for Fenergo and will drive investment in the firm’s SaaS strategy, product line development and support an expanding team through the next phase of growth.

Established in 2009, Fenergo’s award winning SaaS platform provides solutions to the world’s largest and most complex financial institutions, helping to fight financial crime and to enhance customer journeys while being compliant every step of the way. Fenergo currently helps top financial institutions including ICBC Standard Bank, Santander, Mizuho, ABN AMRO and BNP Paribas to digitally transform their end-to-end client lifecycle processes. Fenergo’s API-first ecosystem of channels, systems and data providers enables financial institutions to offer a truly frictionless customer experience.

The company operates in a specialised part of the highly regulated financial services sector, with strong potential for continued growth given the increasing importance of digitalisation and compliance. In the financial year ending March 2021, Fenergo’s revenue increased by 17% to USD$107 million.

Marc Murphy, Founder and CEO, Fenergo said: “We are delighted that Astorg and Bridgepoint have chosen to invest in our company, providing us with the financial strength required to pursue our ambitious high-growth strategy. Both Astorg and Bridgepoint have enormous experience and credibility in our sector, something I am keen to leverage over the coming years. Ultimately, we only exist to serve the needs of our customers. We are looking forward to partnering with them in the next phase of our development.”

Benoît Ficheur, Partner in charge of growth investments at Astorg, said: “We have tracked Fenergo for many years and have been impressed with its strong market position, innovative technology and consistent strong positive feedback from a customer base of large financial institutions. We are thrilled to partner with Bridgepoint to help shape the future of this unique company. Marc Murphy and his team have proven their strength year after year in this very demanding industry. This investment confirms our commitment to backing fast-growing and innovative software leaders.”

David Nicault, Partner responsible for Bridgepoint’s investment activity in technology, said: “We are delighted to partner with Astorg on the exciting next phase for Fenergo. Continued pressure on financial institutions to improve their compliance work, while at the same time managing margins and increased regulation, has created the need for integrated digital solutions that enable reduced operating costs, improve capital allocation and comply with regulations. We are looking forward to working closely with the management team at Fenergo as they build on the company’s success to date and realise its full growth potential.”

Financial terms of the transaction were not disclosed.

Advisors involved included:

– for Fenergo: UBS, Willkie Farr & Gallagher, William Fry, and PwC

– for Bridgepoint and Astorg: Credit Suisse, William Blair, Torch Partners, Arma Partners, Paul Hastings, Allen & Overy, Ernst & Young, and GreySpark Partners

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