Monthly Archives: May 2017

EQT VI to sell Bureau van Dijk to Moody’s Corporation

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EQT

  • EQT VI to sell Bureau van Dijk, a leading global provider of business intelligence and company information, to Moody’s Corporation for EUR 3.0 billion
  • During EQT VI’s ownership, Bureau van Dijk has gone through a significant transformation with investments in areas including sales, marketing, and product development
  • Strong cultural fit, and solid strategic and industrial logic for combination

EQT VI Limited (“EQT VI”) has entered into an agreement to sell Bureau van Dijk (or the “Company”) to Moody’s Corporation (“Moody’s”) for an enterprise value of EUR 3.0 billion. Bureau van Dijk, operating from its Amsterdam headquarters, captures, treats, standardizes, and distributes the world’s richest private company dataset, with coverage of more than 220 million companies. Over some 30 years, the Company has built partnerships with over 160 independent information providers, creating a platform that connects customers with data, to address a wide range of business challenges.

EQT VI acquired Bureau van Dijk in September 2014 with a mission to further expand its leading market position and accelerate growth. The Company has undergone a significant transformation under EQT VI’’s ownership through several key initiatives:

– Development of the organisational structure to prepare for further growth

– Investments in the sales organization, including the introduction of a matrix sales structure, implementation of a global CRM system, and expansion of the salesforce

– Strong focus on the development of new products and continued improvement of existing ones, e.g. the launch of a new user interface

– Substantial investments in marketing and corporate branding

The growth initiatives during EQT VI’s ownership have resulted in strong financial performance, with Bureau van Dijk generating revenues of EUR 258 million and EBITDA of EUR 132 million in 2016.

“Bureau van Dijk has continued to strengthen its market leading position while accelerating financial growth. This development exemplifies EQT’s industrial and growth-focused approach, aimed at supporting management teams in making very good companies even better. The journey continues for Bureau van Dijk – this transaction has a compelling strategic rationale and provides great opportunities for the future. The management team has done an impressive job and we look forward to seeing Bureau van Dijk continue to develop as a part of Moody’s”, says Kristiaan Nieuwenburg, Partner at EQT Partners and Investment Advisor to the EQT VI fund.

“Over the past three years we have been on an exciting and transformational journey with the support of EQT and their industrial experts. We are now delighted to join forces with Moody’s and continue to develop our business”, says Mark Schwerzel, Deputy CEO of Bureau van Dijk.

Moody’s Corporation is the parent company of Moody’s Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management, and Moody’s Investors Service, which provides credit ratings and research covering debt instruments and securities.

The agreement is subject to customary anti-trust clearance and the transaction is expected to close in the third quarter of 2017.

The sellers were represented by Quayle Munro and J.P. Morgan.

Contacts
Kristiaan Nieuwenburg, Partner at EQT Partners, Investment Advisor to EQT VI, +31 20 262 40 01
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 35 billion in raised capital across 22 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 information: www.eqtpartners.com

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Hexagon appoints new Chief Strategy Officer

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Hexagon

Hexagon, a leading global provider of information technology solutions, today announced the appointment of Ben Maslen as Hexagon’s Chief Strategy Officer (CSO). As CSO, Mr. Maslen will be responsible for the development and execution of strategic initiatives to support Hexagon’s long-term growth and shareholder value.

Mr. Maslen has over 15 years of experience in the capital markets industry including being co-head of the European Capital Goods equity research team at Morgan Stanley. Prior to Morgan Stanley, he was an equity analyst at Bank of America Merrill Lynch and Lehman Brothers.

Mr. Maslen will officially assume the role of CSO in the summer of 2017 as part of Hexagon’s group management team, reporting to the President and CEO.

For further information, please contact:
Maria Luthstrom, Investor Relations Manager, Hexagon AB , +46 8 601 26 27, ir@hexagon.com
Kristin Christensen , Chief Marketing Officer, Hexagon AB , +1 404 554 0972, media@hexagon.com

Hexagon is a leading global provider of information technology solutions that drive productivity and quality across geospatial and industrial landscapes.

Hexagon’s solutions integrate sensors, software, domain knowledge and customer workflows into intelligent information ecosystems that deliver actionable information. They are used in a broad range of vital industries.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 18,000 employees in 50 countries and net sales of approximately 3.1bn EUR. Learn more at hexagon.com and follow us @HexagonAB.

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Epiris announces the sale of TechInsights

Epiris is pleased to announce that its portfolio company AXIO Group (“AXIO”) has agreed the sale of TechInsights, a leading intellectual property and technology services provider, to Oakley Capital. The sale, which is expected to complete in the next two weeks, is the seventh and final major realisation from AXIO’s portfolio and will conclude what has been an exceptional investment for Epiris and its investors.

Based on today’s exchange rates, Electra Private Equity PLC (“Electra”) will receive proceeds from AXIO of £26 million. The sale will increase the total cash proceeds received by Electra from its investment in AXIO to £455 million, equivalent to 5.0x original cost, and an IRR of 76%.

Based in Ottawa, Canada, TechInsights is the global leader in intellectual property consulting, patent brokerage and technical reverse engineering. TechInsights helps patent owners maximize the value of their patents through portfolio assessment, advising on strategic options, licensing and litigation support. In 2016 the business was combined with Chipworks, the leader in the intellectual property and technology services market, creating the clear global leader in advanced technology intelligence and technology founded patent advisory services.

Alex Cooper-Evans, Partner at Epiris, said:

“We are delighted to have agreed the final sale from the AXIO group of companies which will conclude what has been an outstanding investment for our investors, delivering an unlevered return of 5x cost and an IRR of 76%.

“The AXIO investment is a terrific example of the Epiris strategy at work. We bought a complex group of assets before transforming them with a programme of strategic and operational focus as well as investment in organic and M&A-led growth. This created a portfolio of high-performance growth businesses which has proven to be extremely attractive to trade and financial buyers alike.

“Henry Elkington and the rest of the AXIO management team have done an exceptional job in delivering this return and we look forward to finding another opportunity to work together.”

Henry Elkington, CEO of AXIO Group, said:

“We are delighted to have brought this investment to a successful conclusion. I speak for the whole management team in saying that this outcome would not have been possible without Epiris, whose vision and support have been invaluable.”

Alex Fortescue and Alex Cooper-Evans are responsible for the investment in AXIO Group.

Epiris refers to Epiris Managers LLP acting on behalf of its clients, including Electra Private Equity PLC.

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Axon Partners Group invests in Boxi to scale production in Colombia

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Axon Partners Group, through the Amerigo Ventures Pacífico Fund, invests in Boxi through a direct investment in the company Colchones REM S.A.S. with the objective of scaling local production and becoming the reference company within the mattress industry in South America.

Colchones REM is the first eCommerce of mattresses in Colombia and one of the first in the region. Since its inception the company has provided Colombian consumers with the possibility of accessing high quality products at prices below those seen on the market. Starting in 2016, the company turned the business around and developed the vertical Boxi (http://www.boxisleep.com/), which sells its own high-quality mattress manufactured using top technology and materials to provide the best rest and comfort. During 2016, Colchones REM gave a strong boost to its Boxi platform and the company adds several thousand mattresses sold since its inception in 2014.

About this transaction Mr.Alfonso De León, CEO of Axon Partners Group, commented “We are very excited about this transaction. We have closely followed this industry in several regions for some time and we believe that this business model, which we know well, with an interesting growth potential. In addition, the company is led by an exceptional entrepreneur, passionate and veteran in this industry.” This investment reaffirms Axon’s leadership position in the digital ecosystem in the Latin American region where it already has 9 investments made.

As per  Mr.Santiago Varenkow, founder and CEO of the company, he said “With this new investment, by one of the most recognized funds in the region, we can take the company to the next level and revolutionize the rest industry in Colombia and throughout Latin America. Our mission for this new stage is to democratize the good rest and to transform what until now was an unpleasant and boring experience, in an easy, fast, pleasant and even fun experience”.

 

About Axon Partners Group (www.axonpartnersgroup.com)

Axon Partners Group is a Spanish consulting and investment firm with a VC & PE division that manages funds in Europe, Asia, and Latin America. Through its Amerigo Ventures Private Equity Fund, Axon is actively involved in the digital ecosystem of the Latin American region.

About Colchones REM/Boxi (www.boxisleep.com)

BOXI is a premium mattress designed with the newest technologies and materials available currently. It is the first mattress in Colombia to combine high density foam, memory foam and latex, which recreates the perfect formula that guarantees maximum comfort and the best rest. Thanks to the quality of its materials, it was possible to compress, seal it to the void, roll it and pack it in a small and practical box, which is delivered in less than 2 hours in the city of Bogotá. In addition, innovating and optimizing every link in the supply chain, it was possible to offer this high-end mattress to the third part of the average market price.

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Viking Venture invests in View Software

Viking Venture

Viking Venture invests in Norwegian B2B Software Company View. The company is a leading provider of software for maintenance of real estate, machinery and vehicles. The company is also providing software for production optimisation and control.

View Software aims to provide its customers with better information about their assets such as buildings, machinery or vehicles. The company has 480 customers sharing a common need for better oversight over production, assets and technical equipment. View Software provides detailed information about condition, former history, and warranties of the assets, included which resources in terms of parts and personnel available to do corrective actions on the equipment.

– We are impressed by the quality of the team as well as their products and customers, commented the recently appointed chairman of View Software, Partner Joar Welde of Viking Venture.

– View is thrilled by having Viking Venture as investor. Viking Venture has consistently proved their ability to bring companies similar to View to a new level. A knowledgeable and experienced partner as Viking Venture is important in order to exploit our international potential, said Mr. Pål Einar Berntsen, CEO of View Software.

Viking Venture owns 49% of View Software after the investment and contributes with experience and knowledge of best practice from across its portfolio of investments.

– Our investment focus is Business To Business (B2B) Software companies with a recurring revenue business modell. We experience strong synergies across our investments and look forward to contribute to increased growth in View Software, said Mr. Erik Hagen, Managing Partner of Viking Venture.

Widar Salbuvik, a long term investor in View Software who is currently increasing his investment in View Software, commented: – The company has grown a lot both in terms of revenue and maturity over the last years. Thus this is a natural point in time to invite an active investor such as Viking Venture into the company. We have great expectations to the cooperation.

About View Software AS

View Software is a leading provider of software for management of maintenance and production planning. More than 12500 users depend daily on View as a tool for maintaining more than 10 million objects such as machinery, vehicles and buildings. The company has 48 employees and is headquartered out of Moss, Norway with offices in Trondheim and Notodden. View Software reported revenues of 46 million NOK in 2016 with a corresponding operational income before depreciations (EBITDA) of 10.5 milion NOK. More information on view.no.

About Viking Venture

Viking Venture is a leading Nordic Venture Fund focused on B2B Software Companies with a recurring revenue business modell. Viking Venture has invested in more than 40 companies and has more than 1.5 billion NOK under management. The company has its headquarter in Trondheim, Norway. More information on vikingventure.com.

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Docaspost acquires Applicam, a major player in e-administration and e-money solutions

blackfincp

Today, Docapost, a subsidiary of Le Groupe La Poste specialised in assisting companies and administrations with their digital and mobile transformation process, announced its acquisition of Applicam, a company specialised in managing funding and subsidies, and in e-money solutions, previously held by Blackfin Capital Partners.
This operation sees Applicam boost its development by joining forces with a recognised industrial partner boasting complementary activities. It enables Docapost to consolidate its presence on the e-administration and e-money market – especially at an international level – thanks to Applicam’s very strong footing on both markets.

A strategic operation for Docapost
Modernising public action is a major topic for Docapost due to the fact that it boasts operational solutions to improve administration performance and management and to adapt formalities to new user requirements.
For Muriel Barnéoud, President of Docapost: “this acquisition fits squarely into Docapost’s investment drive to modernise public action, with dedicated operational solutions. This growth strategy aims to bolster our position as a major player at a national level as regards local authorities and at an international level with e-money solutions.”

Shifting the development of Applicam up a gear
“The acquisition of Applicam by Docapost is a real asset which will enable the company to shift its development up a gear, in particular, by capitalising on the business and technical expertise of the new shareholder. All management and operational teams are behind the move,” says Eric May, Managing Director of BlackFin Capital Partners.
“The acquisition by a player such as Docapost reflects the new dimension taken by APPLICAM over five years and its legitimacy on the market. Applicam teams are very happy to be joining a long-term shareholder who will enable us to further enhance our value proposition as regards our customers,” explains Jean-Michel Dupont, Managing Director of Applicam.

About Docapost
As a subsidiary of Le Groupe La Poste, Docapost assists companies with their digital and mobile transformation process. Combining collaborative platforms, industry expertise, digital and industrial capabilities, Docapost enables companies and administrations to optimise and digitise their business process and relations with customers, employees, suppliers and citizens. Docapost offers tailor-made and turnkey solutions combining consulting with the joint creation of innovative products and services and the operation of business and sectoral solutions and services. Docapost boasts 4,600 employees dotted across 450 sites in France and generated revenues of around €450m in 2015. Since Docapost also operates in numerous other countries – including United States, UK, Spain and Mexico – it offers cross-border solutions to its customers. Docapost’s products and services are audited and certified by independent organisations to ensure full reliability.

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Ardian acquires stake in Abvent

Paris, 11 May 2017
– Ardian, the independent private investment company, today announced itsacquisition of a minority stake in the Abvent Group, a leading publisher and distributor of software forarchitects.
Founded in 1985 by three French architects, Abvent is the leading French provider of image and design
software to architects. The Group has developed a proprietary offer combining 3D visualisation software
and project management solutions via BIM (Building Information Modelling). It is also the exclusive
distributor in France and French-speaking Switzerland of the industry standard design and project
management system for architects, ArchiCAD. Xavier Soule, CEO of Abvent, said: “Following the l
aunch of our BIM offer and the acquisition of Ka-Ra, asoftware publisher specialising in 3D visualisation,
we wish to continue this momentum alongside a partner that understands the dynamics of our market and our
software.”
Philippe Butty, co-founder, added: “For us, Ardian was the natural partner in light of its ability to provide
tactical support and its keen understanding of the strategic challenges we face.”Beyond using Ardian’s network and expertise in supporting growing companies, this partnership aims to help the Abvent management team achieve its goal of
increasing market share in the BIM sector. The Group is one of the few players in this growing mar
ket to have succeeded in developing an offer that is compatible with all existing operating systems.
Alexis Saada, Managing Director at Ardian Growth, added: “We are delighted to be entering into this
partnership with Abvent. Xavier and his team won us over with their agility and ambitious vision: we are
committed to providing them with the necessary means to achieve it.”
Bertrand Schapiro, Senior Investment Manager at Ardian Growth, added: “Abvent’s positioning enables
us to consider a targeted external growth strategy to strengthen its offer that is already unique in its market.”
ABOUT ABVENT
Founded in 1985 by French architects, Abvent is a group currently based in Paris, the leader in software
and services for architects and construction professionals (ARCHICAD, ClimaBIM, Rhino 3D, BIMoffice),
and a key player in the imaging segment (Twinmotion, Artlantis, iVIsit360, RenderIn).
Along with its expansion in France, and to support its international development, Abvent has opened
several subsidiaries (Switzerland, the US, Luxembourg, Hungary) and has a network of distributors in 80 countries.

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Copenhagen Infrastructure Partners

Copenhagen Infrastructure Partners (CIP) through the funds Copenhagen Infrastructure II K/S (CI II) and Copenhagen Infrastructure III K/S (CI III) has acquired 3 offshore wind sites under development in Taiwan.

The three sites are all located off the Changhua coast in the Taiwan Strait and have a total capacity of up to 1,500MW. The three projects have been developed up to now by Fuhai Wind Farm Corporation.

The Government in Taiwan has set a target of 3,000 MW of offshore wind to be constructed by 2025 and decided that nuclear power will be phased out by 2025.

As part of the acquisition of the projects, CIP has entered into a MOU with the local company CSBC Corporation Taiwan regarding supply and installation services.

Further development of the sites will be undertaken by CIP in collaboration with local partner Taiwan Generations Corporation (TGC). The three projects are in the process of applying for the required environmental permits and are still subject to a final investment decision.

For any further information, please contact:
Kristina Negendahl Jessen, Copenhagen Infrastructure Partners, by phone: +45 70 70 51 51 or by e-mail:
cip@cip.dk. Webpage: www.cip.dk

About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners K/S (CIP) is a fund management company founded in 2012 by senior executives from the energy industry and PensionDanmark. CIP is owned and managed by the five partners, Jakob Baruël Poulsen, Rune Bro Róin, Torsten Lodberg Smed, Christian T. Skakkebæk and Christina Grumstrup Sørensen. All five partners have extensive experience within infrastructure investments and mergers & acquisitions. CIP currently manages the funds Copenhagen Infrastructure I K/S, CI Artemis K/S, Copenhagen Infrastructure II K/S and Copenhagen Infrastructure III K/S. Copenhagen Infrastructure II K/S has 19 Danish and international institutional investors: PensionDanmark, Lægernes Pension, PBU, JØP, DIP, Nordea, PFA, Nykredit, AP Pension, SEB Pension DK, SEB Pension SE, Lærernes Pension, Oslo Pensjonsforsikring, Villum Fonden, KLP, Townsend on behalf of a UK pension fund, Widex, LB Forsikring, and EIB (with the backing of the EU through EFSI).

CIP initiated the fundraising process for Copenhagen Infrastructure III K/S on March 16 and the fund has already been backed by a strong group of Anchor Investors, PensionDanmark (DK), KLP (Kommunal Landspensjonskasse, NO), Lægernes Pension (DK), JØP (Juristernes og Økonomernes Pernsionskasse, DK) and DIP (Danske civil- og akademiIngeniørers Pensionskasse, DK).

 

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Ratos divests Sophion Bioscience

Ratos

Ratos’s subsidiary Sophion Holding AB has entered into an agreement to divest all of its shares in Sophion Bioscience A/S to Sapphire Bioscience Holding ApS, a newly established company controlled by Thais Johansen, CEO of Sophion Bioscience A/S. The sale is not expected to generate any significant exit results for Ratos.

Sophion Bioscience previously formed one of two business areas in Ratos’s subsidiary Biolin Scientific, the second of which, Analytical Instruments, was divested in December 2016. Following the divestment of Analytical Instruments, Sophion Bioscience has been operated as an independent company in Ratos and recognised in other net assets in the Ratos Group. Sophion Bioscience is a Danish manufacturer in the area of Automated Patch Clamping (APC), and markets instruments, test plates and support services. Customers include most major pharmaceutical companies.

Given Thais Johansen’s position as CEO of Sophion Bioscience, the transfer of shares is covered by Chapter 16 of the Swedish Companies Act (so-called Leo provisions) and is thus conditional upon the approval of Ratos’s general meeting of shareholders. The purchase price for all shares in Sophion Bioscience is SEK 60m. The company currently has about 50 employees and annual sales of approximately SEK 100m. In recent years, the company has reported a declining earnings trend and operating EBITA amounted to approximately SEK -0.6m in 2016.

The divestment is not expected to generate any significant exit results for Ratos.

Notification of the Extraordinary General Meeting, scheduled to be held in June, will be published in accordance with the provisions of the Swedish Companies Act.

For further information, please contact:
Magnus Agervald, CEO Ratos, +46 8 700 17 00
Helene Gustafsson, Head of IR and Press Ratos, +46 8 700 17 98

– See more at: http://ratos.se/en/Press/Press-releases/2017/Ratos-AB-Ratos-divests-Sophion-Bioscience/#sthash.LRZ5sWTg.dpuf

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Successful Opening of CSA Energy Infrastructure Switzerland Investment Group

Credit Suisse

Zurich, May 10, 2017

The opening of the CSA Energy Infrastructure Switzerland investment group has attracted a great deal of interest from investors. Thanks to capital commitments amounting to CHF 600 mn, the total volume adds up to around CHF 1.2 bn.

After opening subscriptions for the third time, CSA Energy Infrastructure Switzerland, an investment group of the Credit Suisse Investment Foundation, reached its planned subscription volume of CHF 600 mn. The investment group, which was established in 2014 by the Credit Suisse Investment Foundation and is managed by the investment manager Credit Suisse Energy Infrastructure Partners, was opened to both new and existin investors in recent months. As a result, the total volume now amounts to around CHF1.2 bn. This makes CSA Energy Infrastructure Switzerland the largest infrastructure investment group investing exclusively in Switzerland. The capital committed is largely invested in the two main areas of energy and gas distribution as well as hydropower.

Following the latest opening, over 130 Swiss pension funds now invest in the investment group. The success of the investment concept is underlined by the fact that the target volume was heavily oversubscribed. Credit Suisse expects there to be further openings in the future.

The CSA Energy Infrastructure Switzerland investment group has an unlimited duration, which is ideal given the long-term investment period required for energy infrastructure installations. Investments focus on supply-critical energy infrastructure facilities. The investment group invests exclusively in Switzerland, witht least 75% of the portfolio being invested in existing facilities. Investments in new project developments account for no more than 25% of the investment portfolio.

Further information at www.credit-suisse.com/cseipInformation

Media Relations, telephone +41 844 33 88 44, media.relations@credit-suisse.com

 

Credit Suisse AG

Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred tohere as “Credit Suisse”). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46640 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit -suisse.com.

 

Credit Suisse Asset Management (Switzerland) Ltd.

Credit Suisse Asset Management is a multi-specialist manager with more than CHF 322 bn of assets under management operating within the International Wealth Management division of Credit Suisse. Backed by the institutional quality governance, stability and opportunity of Credit Suisse’s worldwide franchise, we deliver distinct product expertise through active and passive solutions in both traditional and alternative investments.

Credit Suisse Energy Infrastructure Partners AG

Credit Suisse Energy Infrastructure Partners AG is an investment boutique within Credit Suisse AG’s Asset Management, and acts as the investment manager for the CSA Energy Infrastructure Switzerland investment group, among others. It specializes in infrastructure investments in the European energy sector. Its clients include primarily large and medium-sized pension funds and insurance companies seeking long-term investments in this asset class.

 

CSA Energy Infrastructure Switzerland is an investment group of the Credit Suisse Investment Foundation (CSA), and invests in Swiss energy infrastructure. The focus is on investments in the capital-intensive area of existing Swiss energy infrastructure. Furthermore, it is

involved in new-build projects that have received the necessary permissions. CSA Energy Infrastructure Switzerland invests primarily in non-listed equity holdings. The investment group is only open to pension funds domiciled in Switzerland.

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