The Access Group announces strategic investment from Hg

HG Capital

The Access Group announces strategic investment from Hg alongside existing investor TA Associates at an enterprise value of £1 billion

The Access Group, a leading provider of fully integrated business management software to UK mid-market organisations, announced today a strategic investment from Hg valuing the business at an enterprise value of approximately £1 billion. Current majority shareholder TA Associates will retain joint control of The Access Group.

With its portfolio spanning Finance, HR, Payroll, Hospitality, Recruitment, Health & Social Care, Manufacturing & Distribution, Education and Not for Profit sectors, The Access Group is the leading vendor of mission-critical business software to mid-market organisations in the UK.

Chris Bayne, CEO of The Access Group, commented, “We have enjoyed our close partnership with the team at TA Associates, and we’re very proud of the considerable growth we’ve achieved together to date. We look forward to continuing our relationship with them and welcoming our new investors, Hg, to further assist us in our journey as one of the UK’s leading providers of cloud-enabled business application software. With these two marquee investors, we will have access to significant resources and expertise to continue to deliver innovation and value for our clients.”

“We are very impressed by Chris Bayne, his strong management team and vision for the business, focused on delivering an ever-expanding portfolio of mission-critical software to a growing base of very satisfied and loyal customers.” said Jonathan Boyes, Partner at Hg.

“It has been a pleasure to partner with Chris Bayne and his team since we invested in the business in January 2015,” said J. Morgan Seigler, Managing Director at TA Associates. “The business has experienced strong organic growth, executed 11 acquisitions, entered three new vertical markets and grown its customer base to more than 12,700 UK businesses and not-for-profit organisations. We look forward to partnering with Hg to support the company through its next phase of growth.”

Arma Partners is serving as financial advisor to The Access Group. Harris Williams is serving as advisor to The Access Group’s Management. Travers Smith is serving as legal advisor to TA Associates and The Access Group. Linklaters is serving as legal advisor to Hg.

Categories: News

Tags:

Questel’s management selects IK Investment Partners for exclusive negotiations

ik-investment-partners

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund has entered into exclusive negotiations to acquire a stake in Questel, a global leading provider of Intellectual Property (IP) information and management software and services, from its current shareholders, including Capzanine, Raise, Questel’s founders and management team. IK plans, together with the founders, management team and Raise, to support the international expansion and external growth strategy of the group. Financial terms of the transaction are not disclosed.

Parties involved

IK Investment Partners: Dan Soudry, Rémi Buttiaux, Vincent Elriz, Déborah Collignon
Buyer Strategic DD: ATK (Jérôme Souied, Julien Vincent)
Buyer Financial DD: Ernst & Young (Daniel Benquis, Eric Roussel)
Buyer Legal advisor: Willkie Farr & Gallagher LLP (Eduardo Fernandez, Grégory de Saxcé, Paul Lombard)

Raise Investissement: Mathieu Blanc, Vincent Sauzay
Capzanine: Christophe Karvelis, Thomas Lafougère
CEO: Charles Besson
Seller Financial advisor: DC Advisory (David Benin, Alexis Matheron)
Seller Financial DD: Eight Advisory (Justin Welstead)
Seller Legal advisor: Mayer Brown (Olivier Aubouin, Marine Ollive)
Seller Tax advisor: Arsene Taxand
Seller Legal DD: K&L Gates
Management advisors: Oloryn Partners (Roland de Farcy) and Desfilis (Guillaume Giuliani)

For further questions, please contact:

IK Investment Partners
Dan Soudry, Partner
Phone: +33 1 44 43 06 60

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About Questel
Questel, a former division of France Telecom, offers IP Business Intelligence software allowing advanced research and analysis of patents, trademarks and designs, IP Asset Management platform as well as international filing administrative services. The Group employs nearly 215 people with offices in Europe, America and Asia and generated a turnover of approximately 45 million euros in 2017.

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 115 European companies. IK funds support 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.ikinvest.com

About Raise Investissement
Founded in 2013 by Clara Gaymard and Gonzague de Blignières, Raise is divided into four complementary activities:

  • RAISE Investment, a capital investment company that targets mid-cap companies with high growth potential and that takes minority stakes through investments ranging between 10 and 50 million euros
  • REIM, an OPCI licensed by the AMF that devotes to real estate
  • RAISE Ventures, an investment company that targets innovative early startups
  • The Endowment Fund RAISESHERPAS, a philanthropic structure that supports, finances and improves the visibility of young growth entrepreneurs in order to help them build sustainable companies.

Raise is based on a unique funding system, with the investment team giving up 50% of its carried interest in order to finance RAISESHERPAS. This innovative system in France creates a virtuous ecosystem between shareholding major groups, mid-caps and startups. For more information, visit www.raise.com

About Capzanine
Founded in 2004, Capzanine is a European independent private investment management fund. Capzanine supports businesses in their quest for growth, providing financial and industrial expertise to help them achieve success in their development and transfer phases. Capzanine delivers flexible long-term financing solutions to SMEs and mid-cap companies. Depending on the circumstances, Capzanine invests as a majority or minority shareholder and/or as a private debt provider (mezzanine, unitranche, senior debt), in unlisted small and mid-cap companies with an enterprise value of 30 million to 400 million euros. Although broad-based, Capzanine more particularly supports strong value-creating companies in the healthcare, technology, food and services sectors. Based in Paris and run by its partners, Capzanine currently has €2.5 billion in assets under management. For more information, visit http://capzanine.com 

Categories: News

Tags:

EQT Mid Market Europe to invest in BBS Automation

eqt
EQT Mid Market Europe partners with the co-founders of BBS Automation, a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes with operations across Europe, Asia and North America · Intention is to support the continued growth of BBS Automation, both organically and through add-on acquisitions, to better serve customers along increasingly international and connected operations · BBS Automation’s co-founders, Josef Wildgruber and Uwe Behr, will continue to lead the executive team and all current shareholders will remain invested in the company

The EQT Mid Market Europe Fund (“EQT Mid Market”) today announced that it is partnering with co-founders Josef Wildgruber and Uwe Behr to invest in BBS Automation GmbH (“BBS Automation” or “the Company”) to support the further expansion of the business.

BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. The Company develops, builds and installs high-quality automated systems for a wide range of industries and requirements. With more than 600 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.

EQT Mid Market intends to leverage its long-term experience in the Industrial Technology space to assist BBS Automation’s growth ambitions both organically and through add-on acquisitions in new end markets. Furthermore, EQT’s global network, in particular the presence in China and the Americas, will support the Company in further expanding its geographical foot-print to reach blue chip customers on a global scale.

Josef Wildgruber, CEO of BBS Automation, comments: “Our customers increasingly request us to partner with them on a global scale. We are therefore looking to expand our international delivery capabilities without compromising on the entrepreneurial mindset and flexibility that customers value in BBS Automation today. We view EQT Mid Market as a very strong partner for these growth ambitions, as they not only provide the required capital for our expansion, but also a network of highly relevant Industrial Advisers as valuable sparring partners for building the presence in our growth markets as well as a governance concept that allows us to further build on our strengths“

Andreas Fischer, Partner at EQT Partners and Investment Advisor to EQT Mid Market, adds ”EQT Mid Market is seeking to partner with inspiring founders and strong management teams who have a clear vision for their business. We are deeply impressed by the entrepreneurial spirit with which Josef Wildgruber, Uwe Behr and their team have built a true German Mittelstands-Champion over the last years. Very rarely do we find businesses of this size that operate as a truly global platform like BBS Automation. EQT Mid Market is delighted to partner with the co-founders of BBS Automation and their team to further develop this key enabler of Industry 4.0 production systems“

The transaction is subject to customary regulatory approval. The parties have agreed not to disclose financial details of the transaction.

Contacts

Andreas Fischer, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe, +49 89 255 49 954

EQT Press Contact, +46 8 506 55 334

About EQT

EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com


About BBS Automation

BBS Automation is a leading provider of flexible and high-quality automation solutions for complex manufacturing and testing processes. With more than 600 employees across production sites in Germany, China, Malaysia and the US, BBS Automation partners with blue chip customers on a global scale.

More info: www.bbsautomation.com

 

Categories: News

Tags:

KKR to Invest $172 Million in Cherwell Software

KKR

Landmark Investment for Colorado Company in State’s Growing Tech Arena

COLORADO SPRINGS, Colo.–(BUSINESS WIRE)– Cherwell Software, LLC, (“Cherwell”) a global leader in enterprise service management, announced today that leading global investment firm KKR will take a larger stake in the company through its Next Generation Technology Fund, which focuses on investments in software, security, Internet, digital media, and information services. This latest investment of $172 million will be in addition to KKR’s initial $50 million investment made in Cherwell in February 2017.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180404005377/en/

Cherwell offers software that has enabled thousands of organizations to modernize their business operations by automating services digitally. After establishing itself as a leader in the IT Service Management (ITSM) space, Cherwell is poised to expand into the service management market, which is estimated to top $30 billion by 2020 (including ITSM, “Low code” and PPM, according to MarketsandMarkets). As organizations of all sizes seek to connect disparate digital services and data silos in order to gain more insight, efficiency and productivity, Cherwell’s platform unifies the tools that ensure their businesses are as efficient as possible. Companies, schools, hospitals, and government agencies all over the world depend on Cherwell’s solutions to manage their IT operations and, increasingly, achieve digital transformation across their organizations.

“Since founding this company in 2004, we have committed to serving customers with intuitive technology that helps not only drive business but transform organizations,” said Vance Brown, Cherwell Co-Founder and Chairman of the Board. “The demand for our platform has continued to expand globally and the leadership at KKR is aligned with the company’s vision for growth.”

“Cherwell is a leader in its industry known for its highly-adaptable, high-quality solutions, which enable customers to transform their service management capabilities. We are thrilled to further invest in the company, which we believe has enormous potential for growth,” said Vini Letteri, a Managing Director on KKR’s Private Equity and TMT Growth team.

Cherwell’s business is expanding rapidly across the globe. The company has experienced dramatic growth in new customers in the EMEA and APAC regions as well as in collaboration with leading industry partners through its Technical Alliance Partnership program. In addition, nearly 70% of Cherwell’s enterprise customers have expanded their use of service management beyond IT, deploying the platform to satisfy a number of needs such as HR, Project Management, Facilities, and Security. Cherwell has a growing and engaged customer base including a wide range of active user groups worldwide, which increased in number by 218% and in customer attendance by 250% in 2017.

“Cherwell has enabled us to do much more than we initially anticipated in terms of driving centralized intelligence and optimized service for our business. We have seen an increase in service application across our organization with more than 50% of service tickets coming in through Cherwell now outside of IT. The Cherwell platform was not only able to be customized for our particular needs in healthcare, but it can grow with our needs, which is vital as we look to drive innovation and continuous improvement,” said William J. Weyrick, Director, Information Systems Division, Dartmouth-Hitchcock.

“Cherwell Software’s evolution into a global technology company in a little more than 10 years is one of the state’s high-tech success stories,” Colorado Governor John Hickenlooper said. “The innovation and highly skilled jobs this company has produced demonstrates some of the best of what Colorado Springs and Colorado has to offer. I’m proud to see Cherwell continue to attract investment to Colorado and lay the groundwork for even more growth in the years ahead.”

About Cherwell

Cherwell Software (@Cherwell) empowers organizations to transform their business through the rapid adoption and easy management of digital services. Cherwell’s adaptable platform has enabled thousands of organizations to modernize their business operations with customizable service management, automation, and reporting across the enterprise. For more information, visit: http://www.cherwell.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Cherwell
Ann Boyd, 719-494-3572
ann.boyd@cherwell.com
or
KKR
Kristi Huller or Cara Kleiman Major, +1-212-750-8300
media@kkr.com

Source: KKR

Categories: News

Tags:

CapMan Growth Equity to invest in to Arctic Security on a growing cyber security industry

CapMan Growth Equity to invest in to Arctic Security on a growing cyber security industry

CapMan Growth Equity has made a minority investment into Arctic Security, a company focusing on cyber security. The acquisition of Arctic Security is CapMan Growth Equity’s first new investment following the establishment of fund in December 2017.

Arctic Security is a Finnish company specialised in Threat Intelligence analysis. Arctic Security serves national cybersecurity centres and companies worldwide and with the help of the investment, company seeks for faster growth globally. Company employs a total of 20 cyber security professionals, working in four different countries. CapMan Growth Equity aims at improving the company’s turnover globally and support the launching of new products in the future. The management of the company will remain as majority owners in the company after the transaction.

“The first investment in 2018 in to new, established Growth Equity fund is extremely interesting and exciting. Arctic Security has a solid position in Finland and a growing position globally. As minority investors we support the development and growth of the company worldwide,” says Juha Mikkola, Managing Partner of CapMan Growth Equity.

The speciality of the investment of Arctic Security is Mikkola’s and a team of entrepreneurs’ investment in to Finnish information security company Codenomicon Ltd 8 years ago. Afterwards, the company was successfully sold with multiply value for a global information security company Synopsys. Arctic Security was founded by information security team of Codenomicon in the end of 2017 and now, the same group of entrepreneurs and Growth Equity team as an investor, build together a mutual company, Arctic Security, in the same, growing industry.

The objective of the Growth Equity investment activities is to find unlisted target companies with strong growth potential, to make significant minority investments worth of more than one million in them and, as an active investor, to develop their value so as to achieve returns in excess of the market average. CapMan’s Growth Equity portfolio consists of seven unlisted Nordic companies at the moment.

For further information, please contact:
Juha Mikkola, Managing Partner, Growth Equity, CapMan Plc, tel. +358 50 590 0522

CapMan
www.capman.com
@CapManPE

CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 28 years. CapMan has today 118 private equity professionals and manages approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Real Estate, Buyout, Russia, Credit, Growth Equity and Infrastructure. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services.

 

Categories: News

Tags:

Growth company Midaxo continues to grow with a new round of funding – Finnvera was one of the early investors but is now making an exit

Finnvera

Midaxo, the Finnish developer of the award-winning cloud M&A platform, announces a €12.9m funding round comprising of €10.3m for the company and €2.6m for the existing shareholders – led by major growth investor Idinvest Partners, with the participation of the existing investors Tesi (Finnish Industry Investment) and EOC Capital. This B round brings Midaxo’s total funding to €18.6m and follows a period of sustained and rapid growth. In 2017, Midaxo more than doubled its revenue and expanded its customer base to hundreds of leading corporations, consultants, and private equity firms, including over 40 companies on the Fortune 1000 list, such as HP, Philips, Daimler and Verizon. With Additional Funding, Midaxo Reinforces Its Position as The Leading Provider Of M&A Software.

After successfully entering the US, Midaxo is now focused on expanding its European operations, including into the Nordic region. Midaxo has 70 employees across four offices in Boston, Helsinki, Amsterdam, and Riga. Headcount has doubled over the past year and is set to further increase as the company is actively looking to recruit a number of high-quality software developers in Helsinki.

Finnvera has been one of the investors enabling Midaxo’s growth and internationalisation.

– Our co-operation with Midaxo has been excellent and we hope all the best for them in the future. Now that our role as an early stage risk sharer has been fulfilled and Midaxo’s future is secured by capable investors, the time for our exit is right, says Heidi Ahonen, manager at Finnvera.

Midaxo helps companies run successful M&A and corporate development projects – minimizing deal risk and maximizing value creation.

– Virtually all larger corporations and 60% of mid-market companies actively use M&A to grow and accelerate their transformation. To consistently succeed in M&A, thought-leaders use purpose-built tools to drive systematic, transparent, and repeatable deal execution from opportunity identification through to integration. For example, their due diligence efforts take 50% less time and 50% less resources, enabling faster reaction and more thorough analysis. With its leading software, Midaxo is proud to support M&A professionals in their important and complex work, says Ari Salonen, CEO at Midaxo.

For further information, please contact:

Heidi Ahonen, manager, Finnvera Oyj
+358 400 606 122
heidi.ahonen(at)finnvera.fi

Ari Salonen, CEO, Midaxo Oy
+1 617 818 0501
ari.salonen(at)midaxo.com

Midaxo Oy’s cloud software helps companies succeed in mergers & acquisitions by driving an efficient end-to-end process from target identification and due diligence to integration. www.midaxo.com and @Midaxo

Categories: News

Tags:

Midaxo Raises €12.9 Million in Series B Funding to Accelerate Product Development and Expansion

Tesi

With Additional Funding, Midaxo Reinforces Its Position as The Leading Provider Of M&A Software.

Midaxo, the Finnish developer of the award-winning cloud M&A platform, announces a €12.9m funding round comprising of €10.3m for the company and €2.6m for the existing shareholders – led by major growth investor Idinvest Partners, with the participation of the existing investors Tesi (Finnish Industry Investment) and EOC Capital. This B round brings Midaxo’s total funding to €18.6m and follows a period of sustained and rapid growth. In 2017, Midaxo more than doubled its revenue and expanded its customer base to hundreds of leading corporations, consultants, and private equity firms, including over 40 companies on the Fortune 1000 list, such as HP, Philips, Daimler and Verizon.

After successfully entering the US, Midaxo is now focused on expanding its European operations, including into the Nordic region. Midaxo has 70 employees across four offices in Boston, Helsinki, Amsterdam, and Riga. Headcount has doubled over the past year and is set to further increase as the company is actively looking to recruit a number of high-quality software developers in Helsinki.

Midaxo helps companies run successful M&A and corporate development projects – minimizing deal risk and maximizing value creation. Commenting on Midaxo’s rapid expansion, CEO Ari Salonen says: “Virtually all larger corporations and 60% of mid-market companies actively use M&A to grow and accelerate their transformation. To consistently succeed in M&A, thought-leaders use purpose-built tools to drive systematic, transparent, and repeatable deal execution from opportunity identification through to integration. For example, their due diligence efforts take 50% less time and 50% less resources, enabling faster reaction and more thorough analysis. With its leading software, Midaxo is proud to support M&A professionals in their important and complex work.”

Midaxo also works closely with leading M&A consulting and private equity firms.“Our partnerships program covers all areas of M&A but is particularly relevant to post-merger integration where our partners help in-house teams maximize deal value,” says Ari Salonen.

In addition to strengthening its customer-facing team with the new investment, Midaxo will focus on developing Artificial Intelligence technology to enhance and support its customers’ M&A activity. “We are already the most widely adopted and faster growing M&A software. The additional funding allows us to capture the nascent market opportunity and to introduce significant innovations to benefit the deal-makers of the world,” said Kalle Kilpi, Head of Product at Midaxo.

“Digital transformation presents enormous opportunity for Midaxo – the company’s rapidly growing customer base, including Nokia and Danfoss, demonstrates that global companies are demanding a digitalized approach to M&A. Looking regionally, the Nordics is buoyant at the moment – 2017 deal value increased by 75% against 2016, with the upward trend set to continue into 2018. We are investing in Midaxo as we strongly believe the company can leverage this growth and will continue leading the digital M&A space, not just in the Nordics but globally. It’s truly exciting to see a Finnish company flourish and we are excited for the future,” says Keith Bonnici, Investment Director at Tesi.

For further information, please contact:

Keith Bonnici, Investment Director, Tesi
+358 (40) 1799584
keith.bonnici@tesi.fi

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total 1 billion Euros and we have altogether 723 companies in portfolio. www.tesi.fi / @TesiFII

Alban WYNIECKI, Investment Director, Idinvest Partners
+33 (0) 6 19 39 77 15
aw@idinvest.com

Idinvest Partners is a leader in financing small and medium-sized companies in Europe.
www.idinvest.com

Ari Salonen, CEO, Midaxo Oy
+1 617 818 0501
ari.salonen@midaxo.com

Midaxo Oy’s cloud software helps companies succeed in mergers & acquisitions by driving an efficient end-to-end process from target identification and due diligence to integration. www.midaxo.com and @Midaxo

Categories: News

Tags:

Latour acquires Sensortec, an independent Swiss provider of sensors for building automation

Latour logo

Investment AB Latour (publ) has, through its subsidiary Bemsiq AB, acquired Sensortec Holding AG, a leading Swiss company active in sensors and transmitters for building automation. The seller is Mr. Beat Steiner, who is also the CEO of the company. The acquisition further strengthens Bemsiq’s offering in products and services for building automation, and expands the group’s geographical reach.

Sensortec is based in Ins in the canton of Berne, Switzerland. The product range includes a holistic offering of field devices for building automation, but also touchless sensors for door automation systems under the brand SENSIR. The majority of the products are based on own design and proprietary technology, but the portfolio also includes selected third party products from leading suppliers to build a complete offering. The company has 10 employees and annual revenue of CHF 5.3 million in 2017.

“I am happy to welcome Sensortec to the Bemsiq group of companies”, says Pär Arvidsson, CEO for Bemsiq. “We have known the company for many years as Produal’s main partner in Switzerland, and their wide range and high product quality is very appreciated by local system integrators. The acquisition is an important step in our ambition to grow on the international market for building automation.”

“I see Bemsiq and Latour as very good long-term owners of Sensortec”, says Mr. Beat Steiner, CEO and former owner of Sensortec. “We have a strong cultural and operational fit and I see, building on our team and know-how, many exciting opportunities as we join forces, especially in product development and sales.”

Göteborg, 23 March, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Pär Arvidsson, CEO Bemsiq AB, +46 70 324 72 53

Bemsiq is a subsidiary of Investment AB Latour’s business area Latour Industries, and forms a group of companies providing innovative products and services for building automation, metering and energy efficiency.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 47 billion. The wholly-owned industrial operations generated a turnover of almost SEK 10 billion in 2017.  

Categories: News

Tags:

Latour divests Kabona to Nordomatic AB

Latour logo

Investment AB Latour (publ) has, through its subsidiary Latour Industries, divested Kabona AB to Nordomatic AB, the largest independent system integrator within building automation in the Nordic region.

The divestment is in line with the fact that Latour for a long time has streamlined its operations to include investments in companies based on product ownership and opportunities for internationalization.
Kabona AB was divided into two separate companies in 2017, where Ecopilot AB took over the product ownership of the Ecopilot product concept. Kabona AB has subsequently streamlined its operation to focus on energy efficiency projects in building automation.

“This is a very exciting business transaction that opens up for new opportunities. Our ambition for all employees and customers is that they shall experience that we focus on knowledge development for each individual and that we continue our pursuit being an industry pioneer with new technical solutions for smart buildings. Kabona’s expertise in energy efficiency and the company’s deep-end customer relations will strengthen the Group considerably”, says Olov Schagerlund, President and CEO of Nordomatic.

“We are pleased that Kabona gets a new home in Nordomatic and thereby gets a committed owner and becomes a part of the Nordic region’s largest independent building automation partner,” says Björn Lenander, CEO of Latour Industries. “We look forward to continued good cooperation with Nordomatic and Kabona as partners for Ecopilot AB and customers for several of our Bemsiq operations”.

Göteborg, 22 March, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Björn Lenander, CEO Latour Industries AB, +46 70 819 47 36
Mikael Johnsson, Business development Investment AB Latour, +46 73 323 3606

Latour Industries AB consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities, which can eventually become new business areas within Latour.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 48 billion. The wholly-owned industrial operations generated a turnover of almost SEK 10 billion in 2017.  

 

Categories: News

Tags:

Fortino Capital invests in intelligent synchronization platform PieSync

Fortino Capital

Fortino Capital leads a 2.8 million euros ($3.5 million USD) round in the Ghent headquartered company PieSync through its venture fund. Fortino Capital led the round with participation from existing investors including Ark Angels Activator FundPMV and Dirk Vermunicht.The PieSync intelligent synchronization platform is an integrated software-as-a-service cloud application to manage contact information. It provides two-way real time synchronisation of contact data between the various cloud applications used.

Today, both multinationals and SMEs use a combination of various (often specialised) cloud applications. One of the biggest challenges for companies is to integrate these applications and manage their data as simply and affordably as possible. Most integration applications only “push”data one way, from one application to the other. PieSync ensures that businesses always have access to their most recent contact data, across every application.

Duco Sickinghe, Managing Partner at Fortino Capital: “PieSync fills the gap in the market for two-way real time synchronisation of contact data in a simple and affordable way. The platform now works successfully with more than 100 different applications, with new ones being added every week. We want our investment to support that continued growth.” The investment of 2.8 million euros is aimed at helping PieSync expand commercially, through increased growth in sales and marketing and by strengthening its management team.

PieSync currently synchronises more than 100 different SaaS applications including Google Contacts, Hubspot, Marketo, Salesforce, Teamleader and specialised applications such as accounting programs. The platform automatically detects possible conflicts in contact data and matches and duplicates data in a clever way. Hence, integrating PieSync in an application landscape eliminates the data gaps between sales, marketing and customer services, and allows more efficient and productive cross-department data management.

“We’re focused on becoming the best solution to help organizations of all sizes to intelligently connect cloud-based business apps without complexity,” said Ewout Meyns, Founder and CEO of PieSync. “The partnership with Fortino Capital is an important step forward in executing our vision to become the fastest growing two-way intelligent data synchronization platform for organizations that want to power their business by integrating their cloud apps. “

PieSync was founded in 2014 by entrepreneurs Ewout Meyns and Mattias Putman in Ghent. Since then, it has grown into a world-renowned player in SaaS. Fifty percent of its customers are American companies.

 

Categories: News

Tags: