Monthly Archives: May 2018

Gaw Capital Partners Successfully Closes Gaw Capital US Fund III, Meeting its Hard Cap at US$412 million

Gaw Capital

May 4, 2018, Los Angeles – Real estate private equity firm Gaw Capital Partners announced the final close of its third US value-added real estate fund, the Gaw Capital US Fund III (“US Fund III”), bringing total commitment raised for this fund to its hard cap size of US$ 412 million.

Following the success of its previous fund, US Fund III will primarily target US west coast real estate opportunities, with an emphasis on creative office and hospitality assets as well as platform investments with attractive risk-adjusted returns. The key geographical regions will include the Bay Area, Southern California and the Pacific Northwest. Gaw Capital has approximately 30 professionals based in the US with the majority based in Los Angeles, which is the US headquarters.

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “The US west coast continues to be a hive of youthful entrepreneurial spirit and innovation, creating an abundance of long-term redevelopment and repositioning opportunities in the local real estate market. Gaw Capital’s reputation for identifying niche trends within emerging real estate segments, and its ability to revitalize underutilized properties, not only delivers healthy and profitable returns for investors, but fulfils an appetite among local entrepreneurs for out-of-the-box concepts for their flexible and creative workspaces.”

US Fund III attracted commitments from investors who had previously invested with Gaw Capital in previous funds, as well as new investors. The makeup of the Limited Partners base is approximately 45% from the US and 55% international.

Christina Gaw, Managing Principal and Head of Capital Markets of Gaw Capital Partners, commented, “We are extremely pleased to have secured such a high level of commitments for the Fund, a reflection of the success of our US Value Add Fund series, as well as our creative, and reliable asset management capability. This close represents a resounding vote of confidence in Gaw Capital’s strategies for and track record in delivering excellent returns and value from its investments in emerging areas of US gateway and secondary cities.”

The closing of Gaw Capital US Fund III also comes at a time when the firm is projecting to fully realize its first product for the US market, DPUSF I (“US Fund I”), with a 28% IRR and 2.0x EM. This vehicle was closed in 2012 after raising US$110 million, and has made a number of successful investments including Courtyard Marriott, Sacramento, CA; Soho House, Chicago, IL; and One Kansas City Place, Kansas City, MO.

Gaw Capital has US$2.14 billion of assets under management in the US at the end of 2017. The firm has been investing in the US since 1995, when it started investing through its associate, Downtown Properties.

 

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Novolex To Acquire The Waddington Group From Newell Brands

Carlyle

Novolex, a portfolio company of The Carlyle Group and an industry leader in packaging choice and sustainability, today announced it will acquire The Waddington Group from Newell Brands, Inc. The transaction is expected to close in approximately 60 days.

Headquartered in Covington, Ky., The Waddington Group is a global manufacturer and marketer of packaging and disposables serving the foodservice, bakery, deli, produce and confectionery markets. Novolex is a leading provider of packaging solutions serving retail, grocery, food service, hospitality, institutional and industrial markets.

“We are excited to add The Waddington Group to the Novolex family of businesses,” said Stan Bikulege, Chairman and CEO of Novolex. “This is a period of strategic growth and development at Novolex. Adding rigid plastic food packaging and an expanded range of sustainable packaging products have been key strategic priorities, and The Waddington Group has long been our top acquisition target. The company brings Novolex world-class product innovation, long-term customer relationships, and, most importantly, adds to our talented and dedicated team. We are excited to have Waddington CEO John Wurzburger and his team join the Novolex family.”

The Waddington Group has a footprint that includes 16 sites in the U.S., Canada, Ireland, The Netherlands and the U.K., and approximately 3,000 employees worldwide. “The Waddington Group is a great fit for Novolex. The company has a strong track record of developing innovative packaging solutions and, like Novolex, is a market leader in sustainability,” Stan added.

The acquisition of The Waddington Group is Novolex’s eighth since 2012. Previous Novolex acquisitions include Shields Bag & Printing (January 2018), Burrows Packaging (December 2016), Heritage Bag (April 2016), Wisconsin Film & Bag (September 2015), Packaging Dynamics (December 2014), Duro Bag (July 2014) and a portion of Clondalkin Group’s North American Flexible Packaging Division (April 2013).

“The Novolex team and our financial partners have brought together a select group of great businesses – all leaders in their respective product categories – into the Novolex family.  The companies that have joined our family are investing, growing and performing well,” Stan noted.  “We are grateful for the support of The Carlyle Group as we take this big step with The Waddington Group.”

“Novolex and The Carlyle Group have forged a strong partnership,” said Wes Bieligk, Principal, The Carlyle Group. “This acquisition illustrates our meaningful commitment to Novolex’s growth plans. We have great confidence in Stan and his team.”

With the addition of The Waddington Group, Novolex will have approximately 10,000 team members and 62 manufacturing plants worldwide.

Equity for the acquisition will come from Carlyle Partners VI, a $13 billionU.S. buyout fund.

About Novolex
Novolex is one of North America’s leaders in packaging choice and sustainability serving retail, grocery, food service, hospitality, institutional and industrial markets. With the pending addition of The Waddington Group, the company will have approximately 10,000 team members and 62 manufacturing plants worldwide. Headquartered in Hartsville, S.C., the Company’s brands include Hilex Poly®, Duro Bag®, Bagcraft® Packaging, De Luxe® Packaging, General Packaging Products, International Converter, Shields®, Heritage® Bag, and Burrows Packaging™. For more on Novolex and its sustainability leadership, visit www.Novolex.com.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents. www.carlyle.com.

About The Waddington Group
The Waddington Group (TWG) is a major global packaging manufacturer and marketer headquartered in Covington, Ky., Waddington’s brands include Eco-Products, the leader in the green packaging space; POLAR PAK® containers, serving ware, drink-ware and cutlery; and WNA upscale disposable plastic products. TWG has 3,000 team members and 16 manufacturing locations worldwide. TWG is a subsidiary company of Newell Brands, Inc., a global consumer goods company.

Media Contact:
Mark Daniels, Novolex™
Phone (904) 834-3707
Mark.Daniels@Novolex.com

 

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IK Investment Partners in exclusive negotiations with Equistone for the acquisition of Mademoiselle Desserts

ik-investment-partners

IK Investment Partners in exclusive negotiations with Equistone for the acquisition of Mademoiselle Desserts

IK Investment Partners (“IK”), a leading Pan-European private equity firm, is pleased to announce that the IK VIII Fund (“the Fund”) has entered into exclusive negotiations with Equistone Partners Europe (“Equistone”), Céréa Partenaire, Azulis Capital and the management team to acquire a majority stake in Mademoiselle Desserts (or “the Group”), a French leader in the frozen bakery industry. The management team will reinvest alongside the Fund.

Established in 1984, Mademoiselle Desserts has grown to become the leading manufacturer of premium frozen industrial finished and semi-finished pastry in Europe. Through its manufacturing sites in France, the UK and the Netherlands and highly experienced teams, the Group works closely with its customers to develop bespoke desserts to the highest food standards.

“IK’s unrivalled experience investing in European food businesses makes them an ideal partner. With their support, Mademoiselle Desserts will be well-positioned to capture market share and continue its active build-up strategy, for which we were actively backed by Equistone over these last years”, said Didier Boudy, CEO of Mademoiselle Desserts.

Arnaud Thomas, Partner at Equistone Partners Europe, added:
“We are proud of our support for the teams at Mademoiselle Desserts during nearly five years, both to develop original business lines and to pursue its international external growth strategy, particularly in the UK”.

“This investment opportunity fits perfectly into IK’s investment strategy. We are impressed by the Group’s development in the UK, France and the Netherlands. Together with the management team, we will strive to broaden the product portfolio via targeted acquisition opportunities”, said Rémi Buttiaux, Partner at IK Investment Partners and advisor to the IK VIII Fund.

Mademoiselle Desserts marks the Fund’s second acquisition in France in the past month and reasserts IK’s expertise in the food sector, developed through successful previous investments across Europe: Linxis Group (2017), Salad Signature (2016), Cérélia Group (2015), Løgismose Meyers (2015), Solina Group (2011), Europe Snacks (2010) and Labeyrie (2002) amongst others.

The transaction is subject to consultation with employee representatives and to regulatory approvals.

Parties involved

IK Investment Partners:
IK Investment Partners: Rémi Buttiaux, Dan Soudry, Diki Korniloff, Thibaut Richard, Guillaume Veber
Buyer Financial advisor: Lazard (François Guichot-Pérère, Nicolas Constant, Jean- Philippe Bescond)
Buyer Strategic DD: Bain (Jean-Marc Le Roux, Doris Galan, Daphne Vattier, Jean- Charles Redon)
Buyer Financial DD: PwC (Martin Naquet-Radiguet)
Buyer Legal advisor: Willkie Farr & Gallagher LLP (Eduardo Fernandez, Grégory de Saxcé, Paul Lombard

Equistone Partners Europe:
Equistone Partners Europe: Guillaume Jacqueau, Arnaud Thomas, Thierry Lardinois Seller Financial advisor: BNP Paribas (Marc Walbaum, Alban Bouley)
Seller Legal advisor: Goodwin (Thomas Maitrejean, Benjamin Garçon)

Mademoiselle Desserts:
Management Legal advisor: LLBerg (Olivier Abergel, Gaëlle Quillivic)
Management Financial advisor: The Silver Company (Stéphane Argyropoulos)
Audit: Eight Advisory (Stéphane Vanbergue, Benoît Bestion)

For further questions, please contact:

Mademoiselle Desserts
Barbara Bosquette
Phone : 05 53 02 32 77
b.bosquette@mdesserts.com

IK Investment Partners
Rémi Buttiaux, Partner
Phone: +33 1 44 43 06 60

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

Equistone
Agnès Catineau / Aurélia de Lapeyrouse
Phone: +33 (0) 1 53 96 83 83
Equistone@Brunswickgroup.com

About Mademoiselle Desserts
Mademoiselle Desserts is a leading frozen bakery player in Europe. Founded in 1984, the Group has grown through an active build-up strategy in France, the UK and Netherlands. It operates 9 production sites and employs approximately 1,300 people. For more information, visit www.mademoiselle-desserts.com

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 Equistone
Equistone is an independent investment firm wholly-owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 30 years, with more than 350 transactions completed in this period. The company has a team of 37 investment professionals operating across France, Germany, Switzerland and the UK, investing as a strategic partner alongside management teams. www.equistonepe.com

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Ardian sells its stake in Serma Group

Ardian

Paris, 2 May 2018 – Ardian, a world-leading private investment house, today announces the signing of an agreement for the sale of its stake in SERMA GROUP (“SERMA”) to an holding controlled by the management and Chequers Capital. SERMA is one of France’s leading providers of specialist consultancy and expertise services for embedded electronic technologies and systems.

Founded in Pessac, France in 1991, SERMA is a mid-market specialist in electronic technologies for sectors operating in high-stress environments, including the aerospace, space, automotive, transport, energy and medical industries. SERMA is active throughout the entire value chain (from semiconductors to integrated electronics) and throughout the electronics life cycle. It focuses on four main business lines: technological expertise, systems security, embedded systems engineering, and the design and development of specific components (with an in-house ceramic assembly unit).

Since Ardian acquired its stake in April 2015, SERMA has demonstrated strong growth, both organically via the creation of its new business line, Safety and Security in June 2016, and through two acquisitions. In September 2016, SERMA acquired Opale Security, a company based in Rennes specialising in cybersecurity. In April 2017, it acquired Aw2S, a Bordeaux-based company specialising in radio frequency engineering. SERMA recorded turnover of almost €100 million in 2017.

Philippe Berlié, CEO of SERMA GROUP, commented: “I would like to warmly thank the teams at Ardian for their valuable support and in particular their expertise in external growth strategies. During this partnership, we have consolidated our position as an electronics specialist through the development of our new business, Safety & Security, and laid solid foundations to continue growing under highly favourable conditions.”

Arnaud Dufer, Managing Director & Head of Ardian Expansion France, added: “We are grateful to have had the chance to support such a talented management team, led by CEO Philippe Berlié. Since Ardian acquired its stake, SERMA GROUP has achieved both consistent organic growth, and external growth via strategic targeted acquisitions. The company is ideally positioned to continue its development alongside Chequers Capital.”

Aurélien Klein, Director of Chequers Capital, added: “SERMA is a high-performing group which has identified very attractive opportunities notably in the test and security sector, thanks to its strong management team. We are delighted to receive the trust of the management to support them in this new stage;  our objective will be to help Philippe Berlié and his teams to pursue the growth and specialization of the group, with a strategy which aims at developing Safety & Security activities while maintaining a strong differentiation.”
The transaction has been submitted to the bank for financing and for approval from the antitrust authorities. On completion of these actions, closing of the transaction should take place in June 2018. In line with legal requirements, the buyer will submit a mandatory public tender offer on SERMA GROUP shares.

ABOUT SERMA

SERMA GROUP offers an independent, international one-stop-shop for services in electronics. Specialized in electronic technologies for high stress environment, the group has developed around its culture of technical excellence and its in-house network of experts. Throughout the electronics life cycle, SERMA GROUP provides global offers around 4 major themes:
– Technologies and process (analysis, test and expertise)
– System security (consulting and rating “CESTI”, certified ANSSI)
– Embedded system engineering (design, development, qualification, production and maintenance)
– Microelectronics (design and industrialization of embedded systems, thick layer ceramic, ceramic assembly)
900 engineers and technicians are the strength of the Group operating with 10 industrial sites in France and Germany to serve its clients: aeronautics, automotive and transport, industry, space, energy and medical.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$67bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 490 employees working from thirteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of c.700 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT CHEQUERS CAPITAL

Created in 1973, Chequers Capital is one of the oldest investors in Europe. It is an independent company, which manages around €2 billion. It is one of the leading players in mid cap private equity investments with a team of 20 investment professionals based in Paris, Munich and Milan. Chequers Capital invests in industry, services, retail and more globally in companies which have a strong international development potential.
www.chequerscapital.com

LIST OF PARTICIPANTS

ARDIAN

  • Ardian Expansion: Arnaud Dufer, Maxime Séquier
  • Legal: McDermott Will and Emery (Grégoire Andrieux, Diana Hund)

SERMA GROUP

  • Philippe Berlié, Xavier Morin, Bernard Ollivier, Olivier Duchmann and Mirentxu Boutet
  • Legal: Apollo (Florence Savouré, Laura Smyrliadis, Delphine Dillemann) and SCP Chepeau, Lumeau & Associés (Frédérique Lumeau)

CHEQUERS CAPITAL

  • Aurélien Klein, Andrea Sartori, Jérôme Kinas
  • Legal advisor and legal, tax, social due diligence: Hogan Lovells (Stéphane Huten, Arnaud Deparday)
  • Strategic due diligence: CMI (Nicolas Kandel, Romain Girard)
  • Financial due diligence: 8 Advisory (Christian Berling, Dimitri Cromback)

FINANCING

  • CACIB: Olivier Malard, Cheikh Ba, Isabelle Saurel
  • Crédit Agricole Nord Midi Pyrénées: Sylvain Fauchard, Christian Candelon, Eric Boillot, Marion Trouche
  • Crédit Agricole Aquitaine: Corinne Auffret, Christophe Mouisset, Guy Rolland
  • CIC: Anne Bardou, Jérémie Malin
  • CIC Sud-Ouest: Jean-Renaud Dallay, Emmanuelle Leostic
  • CM-CIC Private Debt: Alexis Drouillot, Maire de Taisne, Thibaut Picard
  • BNPP: Patrick Boury, Xavier de Lestrange, Guillaume Chesnel, Sandrine Laurier, Marc Christiaen
  • BNP Paribas European SME Debt Fund: Cyril Loiry, Christophe Carrasco
  • Amundi: Marlène Archer, Julien Paycha
  • Neuflize OBC: Guillaume Boudet, Elisabeth Virag, Cédric Plantier
  • Legal: Goodwin Procter (Arnaud Fromion, Adrien Paturaud, Marie Domas Margarit)

PRESS CONTACTS

ARDIAN
Headland
CARL LEIJONHUFVUD
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

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EQT combines Candidator and DGC IT Services – creates new managed IT services provider

eqt

  • EQT combines Candidator and DGC IT Services to form a new group – creating a substantially larger managed IT services provider
  • EQT to support continued growth and further strengthen the customer service offering, both organically and through select add-on acquisitions
  • Jörgen Qwist, CEO of DGC, appointed as Group CEO and Johan de Verdier, CEO of Candidator, continues as Head of Candidator with focus on Business Development and M&A for the newly combined group

Candidator, based in Alingsås, Sweden, and DGC IT Services (“DGC”), headquartered in Stockholm, are both managed IT services providers with capabilities for full IT outsourcing, providing their clients with contracted services, including hosting and cloud and application management. The EQT Mid Market fund and the EQT Mid Market Europe fund respectively acquired Candidator in February 2018 and DGC IT Services, a business segment within DGC One, in June 2017.

Today, EQT announces the combination of Candidator and DGC IT Services to form a new group, Candidator DGC. Both companies have strategic complementary characteristics with significant industrial logic for combination, and together, they will have total annual sales of around SEK 1 billion. Compared to operating as standalone entities, the significantly larger group is expected to provide improved service offerings to customers and an improved ability to serve larger clients. EQT will support the continued development of the combined group and drive further growth, both organically and through select acquisitions.

Johan Dettel, Partner and Investment Advisor at EQT Partners comments: “EQT has followed the managed IT services market for a long time and sees great industrial logic in combining the two businesses. Candidator and DGC are highly complementary, both in terms of geographical footprint and strong service offerings in different customer verticals. The IT services market is undergoing powerful change with increasing demand for security services and cloud adoption. With this new platform, EQT creates a great foundation to deliver increased customer value in these areas.”

Jörgen Qwist, CEO of DGC, will assume the role of Group CEO of Candidator DGC. Qwist comments: “Together, Candidator and DGC will become one of the largest managed IT services providers in the Swedish market, with the ambition to grow throughout the Nordic region. As a group, we will possess the wide set of services and core expertise that is needed to compete for the largest clients. I really look forward to making this growth journey with all our employees and customers.”

Johan de Verdier, CEO of Candidator, will continue to be Head of Candidator with a focus on Business Development and M&A for the newly combined group. De Verdier adds: “Candidator and DGC share the same commitment of delivering an unbelievably excellent customer experience, and we complement each other well when it comes to geography and customer mix. We now are exceptionally well positioned for a very exciting future together for all employees and customers.”

The combined group will initially go to market under their respective names, Candidator and DGC, and will gradually integrate to merge under one name.

Contacts
Johan Dettel, Partner and Investment Advisor at EQT Partners, +46 8 506 55 350
EQT Press office, +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 Candidator
Candidator is a successful IT company which delivers complete IT operation, telephony and outsourcing services to companies and organizations in the Nordic market, under the motto “make it simple.”. Our vision is to be a Nordic IT partner which is recognized for delivering an unbelievably good customer experience.

More info: www.candidator.se

About DGC
DGC is a managed service provider that develops and delivers customized IT services to customers who demand high security, availability and innovation. We deliver our services, from our own infrastructure as well as public clouds, with the highest service levels and a personal commitment to our customers. We started our business in 1991.

More info: www.dgc.se

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HQ Capital successfully closes secondary funds ASF IV and AASF

HQ Capital

New York, Frankfurt and Hong Kong. 02 May 2018 – HQ Capital (“HQC”), a leading independent manager of alternative investments, announced the final closing of its global secondary fund, Auda Secondary Fund IV (“ASF IV”), and its Asia-focused secondary fund, Auda Asia Secondary Fund (“AASF”), with combined third-party capital commitments of US$674 million.

 

Both funds were oversubscribed, receiving significant interest from existing and select new investors from around the globe. ASF IV closed on US$503 million of capital, exceeding its original target of US$450 million, and AASF closed at its hard cap of US$250 million, surpassing its US$200 million target (inclusive of US$79 million in capital allocated by ASF IV and by Auda Asia IV, HQC’s Asia-focused platform fund).

 

Like its predecessor funds, ASF IV will seek to construct a globally diversified portfolio of private equity assets through a combination of traditional and non-traditional secondary market transactions. Traditional deals will typically involve the purchase of limited partner interests in buyout, growth equity, venture capital and other private funds. Non-traditional deals will generally include sponsorship of private equity fund recapitalizations; purchases of portfolios of direct company interests; and purchases of securities in a single company. AASF will employ the same market approach, investment strategy, structured investment process, and key portfolio construction guidelines as ASF IV, but will focus exclusively on Asia-based secondary transactions. Both funds will target small and mid-sized transactions, typically ranging from US$10-20 million in value.

 

Chris Lawrence, Managing Director at HQC, said: “The strong demand we have seen from investors demonstrates a continued high level of interest in secondaries. We believe our focus on the generally less crowded small and mid-sized transaction segment, will provide opportunities for negotiated purchases, better pricing and enhanced risk-adjusted returns for ASF IV. As the secondary market continues to grow and evolve, we look forward to applying our 29 years of experience and local market expertise in the U.S., Europe and Asia toward identifying and executing on attractive and innovative investment solutions.”

 

Georg Wunderlin, CEO of HQC, added: “The successful closing of ASF IV and AASF marks another milestone in our specialized strategy, manifesting our position as a leading, independent manager of alternative investments. We are proud to have earned investors’ trust and are fully committed to using our experience and global presence to find attractive niche investment opportunities.”

 

ASF IV and AASF are the fourth and fifth funds raised by HQC dedicated to making private equity secondary investments. HQC will draw on its global resources in managing ASF IV and AASF, with sourcing and execution of transactions led by investment professionals operating out of offices in New York, Frankfurt and Hong Kong. To date, the funds have already closed on a combined 25 transactions representing approximately US$230 million in committed capital.

 

HQ Capital’s limited partners include insurance companies, pension funds, financial institutions and family offices as well as high net worth individuals, endowments and foundations.

 

Fundraising for ASF IV and AASF is now closed. Accordingly, the foregoing text should in no way be interpreted as any form of offer or solicitation to subscribe to or make any commitments for or in respect of any securities or other interests or to engage in any other transaction.

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Gilde Healthcare exits STAT-Dx to QIAGEN for $191M

GIlde Healthcare

Utrecht, The Netherlands – Gilde Healthcare announced it has sold its shareholding in molecular diagnostics STAT-Dx (Barcelona, Spain) to QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA). QIAGEN has agreed to acquire all shares of STAT-Dx for $147 million in cash and additional payments of up to $44 million based on the achievement of regulatory and commercial milestones.

Gilde Healthcare acted as lead investor in the EUR 31 million growth financing round in 2016. The financing enabled STAT-Dx to accelerate the growth of the organization, build in-house manufacturing capabilities, expand its product pipeline, obtain European market approval and to prepare go-to-market activities.

Founded in 2010 in Barcelona, Spain, STAT-Dx focuses on the development, manufacturing and commercialization of “Closer to Care” diagnostic solutions in areas where fast and accurate diagnostic results are crucial, such as infectious diseases and critical care. On April 19th, Qiagen announced the European launch of QIAstat-Dx (formerly STAT-Dx DiagCORE), a next generation multiplex diagnostics platform for one-step, fully integrated molecular analysis of common syndromes. QIAstat-Dx is a versatile, easy-to-use platform that consolidates molecular and immunoassay techniques in a single device. The first two tests are extensive respiratory and gastrointestinal panels. Additional tests are in development.

 

About Gilde Healthcare

Gilde Healthcare is a specialized European healthcare investor managing €1 billion across two business lines: a venture & growth capital fund and a lower mid-market buy-out fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Benelux and DACH-region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market.
For more information, visit the company’s website at www.gildehealthcare.com

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Full acquisition of Groku

Anders Invest

Full acquisition of Groku

May 2, 2018

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Anders Invest

 

On the 25th of April Anders Invest has completed her eleventh acquisition with the full acquisition of Groku in Kampen. The shares were bought from Heritage B, an international industrial holding company. The current management will remain at the company.

 Groku is active in the Benelux as a producer of customized professional kitchen furniture. The customers are project designers who supply kitchens and large-scale technology to catering establishments, hotels, company canteens, healthcare institutions and governments. Groku has a large production facility in Kampen, including an automated laser welding robot, laser cutter, CNC machining center, hydraulic rubber press and press center.

 The company has a long and stable history and is the largest player in its segment within the Benelux. 

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TA Associates Announces Investment in Datix

TA associates

BOSTON and LONDON – TA Associates, a leading global growth private equity firm, today announced that it has completed an investment in Datix, a specialty healthcare patient safety software provider.

Existing investor Five Arrows Principal Investments, the European corporate private equity business of Rothschild Merchant Banking, will maintain a significant equity stake in Datix. Financial terms of the transaction were not disclosed.

Founded in 1986, Datix is a leading global provider of patient safety and healthcare risk management software. The company’s suite of software products enables over 20,000 sites among more than 800 customers to address daily incident management and regulatory needs through its interconnected modular solutions. The company is headquartered in London with approximately 160 employees across four offices in the United Kingdom, the United States and Australia.

“As a global company that is seeking to continuously find ways to set the standard for patient safety, we believe it is critical to have financial and operational support to ensure that our customers around the world are receiving the highest quality products and services,” said Seyed Mortazavi, Chief Executive Officer of Datix. “Given TA Associates’ deep experience within the healthcare and technology industries as well as the firm’s value-add resources, we are confident that we have found the ideal partner as we embark upon our next phase of growth. We are delighted to welcome TA as an investor and are equally excited to be able to continue our strategic relationship with Five Arrows.”

As part of the transaction, Naveen Wadhera, a Managing Director at TA Associates, and Ethan Liebermann, a Principal at TA Associates, will join the Datix Board of Directors.

Kirkland & Ellis LLP provided legal counsel to TA Associates. Sidley Austin LLP provided legal counsel and Arma Partners served as financial advisor to Datix.

About Datix
Datix has been a global pioneer in the field of patient safety over the past three decades and today is the leading provider of software for patient safety, risk management and incident reporting for the healthcare sector.

Datix aims to build and promote a culture of safety within healthcare organizations, recruiting professionals who are passionate about improving healthcare and championing technological innovation. The company continually invests in its software and services, maintaining a leadership position at the forefront of the worldwide patient safety movement.

Datix is focused on the health and social care sector. Its customers include public and private hospitals, primary care providers, GP surgeries, mental health and ambulance service providers. Within the UK, this includes more than 80% of the National Health Service. Internationally, the Datix client base is growing rapidly and includes large-scale deployments in the U.S. and Canada, as well as customers in Europe, Australia and the Middle East. Datix has offices in London, Chicago, Washington, DC and Melbourne with partners in the Middle East, Australia and New Zealand. For more information, please visit www.datix.co.uk.

About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968 and is investing out of current funds of $7.25 billion. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Five Arrows Principal Investments
Five Arrows Principal Investments is the European corporate private equity arm of Rothschild Merchant Banking, which manages €8 billion in capital, including €2 billion dedicated to corporate private equity. Five Arrows focuses on investing in European middle market companies which have strong market positions, business models with high revenue visibility and multiple levers to unlock latent value. With a pan-European portfolio of 20 companies and a large “grass roots” network of industry operators, Five Arrows specializes in select sub-segments of Healthcare, Data & Software and Technology-Enabled Business Services. www.rothschild.com/fapi

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EQT acquires majority stake in Dunlop Protective Footwear

eqt

  • QT acquires majority stake in Dunlop Protective Footwear, the leading global manufacturer of protective wellington boots
  • Intention to support the global growth of Dunlop Protective Footwear, by enhancing its go-to-market approach in the US, driving expansion in underpenetrated and new geographies, and by fostering innovation and new product development
  • Gilde Equity Management, the current majority shareholder, will reinvest in the company and will remain a significant shareholder going forward
  • The existing executive team, led by CEO Allard Bijlsma, will continue to lead Dunlop Protective Footwear

The EQT Mid Market Europe fund (“EQT”) announces that it is acquiring a majority stake in Dunlop Protective Footwear (”Dunlop” or “the Company”) from its current owner Gilde Equity Management Benelux (“GEM”). GEM will remain a significant shareholder and will continue to support the growth plans of the Company in close cooperation with EQT and Management.

Dunlop is the leading global manufacturer of branded protective wellington boots, serving professionals in Agriculture & Fishery, Food processing, Industry and Oil, Gas & Mining. With over 500 employees, production sites in the Netherlands, Portugal and the US, and sales activities around the world, Dunlop serves customers in more than 50 countries.

EQT is excited to support the continued global growth of Dunlop, by enhancing the Company’s go-to-market approach in the US, driving expansion into underpenetrated and new geographies, and fostering new product development. Dunlop is expected to benefit from EQT’s deep sector expertise within tech and digitalization in its mission to further expand its e-commerce platform. EQT also intends to support Dunlop’s growth ambitions through add-on acquisitions.

Florian Funk, Partner at EQT Partners and Investment Advisor to EQT Mid Market Europe, comments: “EQT is honored by GEM’s trust and grateful to have been granted an exclusive process. This enables us to work together in the future and build on the impressive track record of Dunlop Protective Footwear. We regard this outcome as a testimony to our EQT brand value and acknowledged reputation to help high-quality companies unlock their full potential. We are very excited to join the Dunlop journey and to support the management team in accelerating its global growth ambitions going forward.”

Thijs van Remmen, Partner at Gilde Equity Management: “We have been a shareholder in Dunlop for many years and have supported the company through several phases of development. Starting by focusing Dunlop entirely on its niche of protective wellington boots, we then helped the company to steadily gain market share globally, including the step-change acquisition of competitor Onguard in the US. We believe the company is in a better position than ever to propel itself to the next level. That is why we will reinvest significantly and remain a shareholder in the company.”

Allard Bijlsma, CEO of Dunlop, adds: “Our Dunlop Protective Footwear company has a clear plan towards the future, in which driving comfort and protection for our end users is the central theme. With our Dunlop brand and our best in class product offerings, like Purofort, we are acknowledged as the innovation leader in our business. I’m delighted that the EQT team has joined us to support our global roll-out and thus being able to accelerate on our ambitions. I’m convinced that EQT can deliver great value to our business by making use of their global network of experts in virtually every field.”

The transaction is subject to customary conditions and regulatory approvals. It is expected to close in Q2, 2018. The parties involved have agreed not to disclose financial details of the transaction.

Contacts
Florian Funk, Partner at EQT Partners, Investment Advisor to EQT Mid Market Europe, +49 89 2554 99 504
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 GEM
Gilde Equity Management (GEM) is an independent private equity firm in the Benelux with more than 30 years of experience and over EUR 1 billion under management through funds with a long-term investment horizon. Since 1996, GEM focuses exclusively on the Benelux mid-market segment and invests in international companies based in the Netherlands and Belgium.

More info: www.gembenelux.com

About Dunlop Protective Footwear
Dunlop Protective Footwear is the leading global manufacturer of protective wellington boots. In more than 50 countries worldwide, the Company provides comfortable and protective footwear to the workers in Agriculture & Fishery, Food processing, Industry and the Oil, Gas & Mining industry. Dunlop has more than 500 employees, three production sites in the Netherlands, Portugal and the US, and sales people around the world. Dunlop Protective Footwear is headquartered in Raalte, the Netherlands.

More info: www.dunlopboots.com

 

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