Monthly Archives: July 2018

HQ Equita acquires r2p and Open Access to build a leading player in the fast-growing market for intelligent digital public transport solutions

HQ Capital

Bad Homburg, 9 July 2018. HQ Equita Beteiligungen V GmbH & Co. KG, advised by HQ Equita GmbH (“HQ Equita”), has signed an agreement with the Swedish investor Alder Fund I AB (“Alder”) to acquire a majority stake in r2p GmbH (“r2p”), based in Flensburg. Simultaneously, HQ Equita will acquire Open Access Pty Ltd (“Open Access”) based in Sydney, to become a subsidiary of r2p, thereby extending the group’s global reach to Australia, Southeast Asia, and North America.

Founded in 2009 with headquarters in Flensburg, r2p is a rapidly growing technology group in the intelligent transport market, which develops both proprietary hard- and software, offering products and components for use in moving vehicles, stations and control centres. Alder, a Sweden-based growth investor, which focuses on majority investments in the sustainable technology sector, acquired r2p in 2012. Since then, r2p has made several add-on acquisitions in Denmark and the UK and has founded subsidiaries in Brazil and Switzerland, resulting in a competitive international presence. The current setup is enhanced by a close co-operation with Open Access, an Australian provider of technology and solutions for integrated passenger information and audio communication systems, active throughout Australia, Southeast Asia and through partners in North America. Upon closing of the transaction, HQ Equita will combine and integrate r2p and Open Access into one group to realise the untapped cross-selling potential arising from the two companies’ complementary product portfolios, applications and geographies. The combined group also seeks to become an active industry consolidator – aiming to acquire complementary technology and product solutions and to further increase its global delivery and service capabilities.

The management teams of both r2p and Open Access remain significant shareholders and are committed to growing the company further through active management and development of the group.

Henrik Flygar, Partner at Alder, says: “We have worked closely with r2p to build a strong international platform. With HQ Equita we have found a new owner for r2p, who has the necessary financial resources and network to continue to drive the group’s organic and inorganic growth. r2p will certainly benefit from HQ Equita’s sector expertise.”

Ulrik Rasmussen, CEO of r2p, adds: “With HQ Equita as our new owner, we will be able to consolidate the existing group, and build the required structures to accommodate further growth. The entire r2p management team is highly committed to further developing the group into a leading provider of intelligent transport solutions.”

Brendan Dooley, CEO of Open Access explains: “Open Access and r2p align well with respect to geographical coverage, technology and management experience. The merged group is well positioned to deliver compelling integrated solutions to the market. We look forward to working closely with HQ Equita.”

Hans J. Moock, Managing Director of HQ Equita, emphasizes: “The underlying intelligent transport market is expected to continue to grow at attractive double-digit rates in the next years. With the acquisition of r2p and Open Access, we seize the opportunity to participate in this promising growth case close to and overlapping with a product market we know well from our previous investment in MEN Mikro Elektronik. r2p’s integrated solutions portfolio and its cutting-edge technology combined with an extraordinary management team makes this acquisition an ideal platform for future inorganic growth.”

The parties have agreed not to disclose the purchase price and other details of the contractual agreement. The closing of the transaction is expected for mid-July.

HQ Equita was supported in the transaction by the following advisors: DC Advisory (M&A, Debt Advisory), Gleiss Lutz (Law, Sales Contract, Taxes), civity Management Consultants (CDD), Rödl & Partner (FDD), Aon (Insurance, W&I), ERM (Environment, ESG).

Alder was supported in the transaction by the following advisors: Lincoln International (M&A), Deloitte (Finance, Taxes), White & Case (Law, Purchase Agreement).

About r2p

Headquartered in Flensburg, Germany, r2p is a globally active provider of IP-based system solutions for public transport covering communication, security and monitoring applications. The fully integrated portfolio of hard- and software products for passenger and fleet flow management r2p offers include CCTV, Passenger Information Systems (PIS), Passenger Announcement (PA), passenger counting, infotainment and fleet management with real-time data transfer and analysis for rail and road vehicles. The group has a network of subsidiaries in Denmark, the UK, Switzerland and Brazil. r2p currently employs around 117 people.  For further information, please refer to www.r2p.com

About Open Access

Headquartered in Sydney, Australia, Open Access primarily provides solutions for integrated passenger information and audio communication systems in the public transportation space. The group has a subsidiary in Kuala Lumpur, Malaysia, and employs c. 53 people. It is primarily active in Australia, Southeast Asia and through partners in North America. For further information, please refer to www.oa.com.au

About Alder

Alder is a Swedish growth investor within the sustainable industry sectors focused on investments in proven and established companies with strong growth potential. Alder currently manages investment funds with committed capital of approximately EUR 200 million. For further information, please refer to www.alder.se

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Horizon invests in DMC Canotec

Horizon Capital

Horizon, the leading investor in UK business services and technology companies, is pleased to announce its investment in DMC Canotec, one of Britain’s biggest providers of managed print and document management services. The transaction marks Horizon’s first new platform of the year and has been funded by a number of Horizon’s existing limited partners, as well as new institutional investors.

”From the first meeting, we felt Horizon would be a natural fit and it was clear they understood our values and ambitions for the business.

DMC Canotec was established in 1991 by CEO Jon Hill and his business partner Justin Nicholson. They have overseen the growth of the group to establish it as one of the largest and most advanced independent suppliers of print, archive and document management systems in Europe. DMC, based in Croydon, Surrey, employs over 170 people and serves clients across the SME market, with high-levels of recurring revenues.

Having recruited Simon Davey as Managing Director in 2016, DMC Canotec has grown revenues by more than 24% since his appointment. Horizon is investing alongside Jon and his management team to support the continued growth and development of the business and enable the company to make further acquisitions to broaden its portfolio of managed services. Horizon sees an exciting opportunity to accelerate DMC Canotec’s consolidation of what remains a highly fragmented market, with over 300 companies in the UK.

Horizon has a strong track record of investing in tech-enabled business services and specialises in supporting companies with their acquisition strategies. The deal was led by Horizon partner Luke Kingston and the team included Tom Maizels, Matt Morris and Simon Hitchcock. Luke and Tom will join the DMC board.

The DMC transaction follows a busy period for Horizon, which most recently backed Sabio Group in its £10m acquisition of Bright UK, a customer and employee satisfaction survey software provider. This was the fifth add-on made by Horizon portfolio companies this year.

Luke Kingston, Partner at Horizon Capital, said:
“Having closely followed the managed services market for several years, we identified DMC Canotec as an outstanding business with huge potential for growth in a highly fragmented space. We look forward to working with Jon, Simon and the team to help the company realise its ambitions and lead consolidation of the sector.”

Simon Hitchcock, Managing Partner at Horizon Capital, added:
“Following Horizon’s restructuring in January, we are delighted to have concluded the DMC investment. The transaction demonstrates the strong support of both key existing and new investors for the Horizon platform. Our pipeline of new platform and add-on investments remains very strong and we look forward to concluding further deals later in the year.”

Jon Hill, CEO and Co-founder of DMC Canotec said:
“Since founding DMC, we have built a strong and scalable business and we are excited to partner with Horizon. From the first meeting, we felt they would be a natural fit and it was clear they understood our values and ambitions for the business. The team and I look forward to drawing upon the skills and experience of Horizon as we seek to grow our business even further.”

Simon Davey, Managing Director of DMC Canotec said:
“When partnering with a private equity firm to help grow our business, Horizon was the ideal choice given their expertise and track record of backing acquisitive companies in fragmented markets. We look forward to working with them and growing the business over the coming years.”

Horizon were advised by Deloitte, CIL, Harrison Clark Rickerbys, Rothschild, Spectrum Corporate Finance and Forward Corporate Finance.

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Adelis acquires Didriksons

Adelis Equity

Didriksons has grown significantly in recent years and strengthened its position as one of the leading brands for rain- and functional wear in Scandinavia. To support the continued growth journey of the company, Adelis Equity Partners is acquiring a majority stake in Didriksons from a fund managed by Herkules Capital. Management will continue in their present roles and as significant owners in the company.

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is a leader in Scandinavia within rain- and functional wear, and produces functional, durable and well-designed garments for women, children and men. The growth in recent years has been driven by expansion in new geographic markets and e-commerce. Didriksons is currently sold in more than 19 countries with a third of sales coming from online channels, and has a turnover of around SEK 500 million.

”Didriksons has gone through an expansive period, where we have successfully grown in the Nordics and internationally, through considerable investments in product development and a strengthened customer offering. We are pleased to have Adelis as a new majority owner to support us in the next step of our exciting growth journey. Adelis has a strong network and extensive experience of developing Nordic brands and consumer goods companies. This makes them a strong partner for us, which will be valuable when we continue to implement our growth strategy,” says Johan Ekeroth, CEO of Didriksons.

”With its strong brand offering based on functionality and timeless design, and its niche position within rain- and functional wear, we see strong potential for continued growth for Didriksons. We are impressed by the company’s management and the strong development in the Nordics and in other European countries. We are looking forward to supporting Didriksons’ growth and developing the company together with management,” says Lene Sandvoll Stern at Adelis.

In connection with the transaction Mats Hedblom, former CEO of Haglöfs, will join the new board of directors.

The parties have agreed not to disclose the terms of the transaction. The transaction is subject to customary regulatory approvals.

For further information:

Didriksons: Johan Ekeroth, johan.ekeroth@didriksons.com, +46 706 54 32 48

Adelis Equity Partners: Lene Sandvoll Stern, lene.stern@adelisequity.com, +46 702 81 34 24

About Didriksons

Didriksons was founded in 1913 as a manufacturer of workwear for fishermen. Today, the company is one of the leading brands in Scandinavia within rain- and functional wear for the entire family. Didriksons’ turnover is around SEK 500 million, and its products are sold in more than 19 countries with one third of sales coming from online channels. For more information please visit www.didriksons.com.

About Adelis Equity Partners

Adelis is an active partner in creating value at medium sized Nordic companies. Adelis was founded with the goal of building the leading middle market private equity firm in the Nordics. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, acquiring 16 platform investments and making more than 40 add-on acquisitions. Adelis now manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

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Latour acquires Hellberg Safety AB

Latour logo

Investment AB Latour has, through its subsidiary Hultafors Group AB, signed an agreement to acquire Hellberg Safety AB (“Hellberg”) based in Stenkullen, Sweden. Closing will take place with immediate effect.

Hellberg is a specialized supplier of hearing protection, face protection and communication solutions for personal protection purposes. Founded in Sweden in 1962 the company has grown to now have presence in 50 markets with its own R&D, production, assembly and warehouse operations at the headquarters in Stenkullen. Net sales amounted to SEK 66 m in 2017 with a profitability well in line with Latour’s financial targets. The company has around 20 employees.

The acquisition is part of Hultafors Group’s strategy to broaden its portfolio within the PPE area. Through the acquisition Hultafors Group will gain access to a complete portfolio of highly advanced hearing protection products as well direct customer relationships with some well recognized blue-chip companies.

“We are thrilled about this acquisition as we think Hellberg will be a perfect match for Hultafors Group in fulfilling our ambitions within the PPE-area and we see a lot of opportunities going forward when combining the Hellberg portfolio with the Hultafors Group sales network” says Ole Kristian Jødahl, CEO at Hultafors Group AB.

“Hultafors Group is a company which we have known for quite some time and we believe that Hultafors Group’s existing customer relations and network in many countries will serve as an excellent foundation in taking the current business of Hellberg to the next level”, say Joakim Ohlander and Colin MacKenzie, previous owners of Hellberg.

As an effect of the acquisition the net debt of Investment AB Latour is expected to increase to around SEK 4.5 billion compared to the net debt level at the end of March 2018 as communicated in the Interim report January – March 2018.

Göteborg, July 6, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Ole Kristian Jødahl, CEO Hultafors Group AB, +47 900 88 305
Jens Eriksson, Director, M&A and Strategy Hultafors Group AB, +46 702 114 601

Hultafors Group offers a dynamic range of premium brands to rely on – for distributors and craftsmen alike. Through its various brands Hultafors Group is represented in 40 countries and has over 11,000 point of sales. Hultafors Group has 700 employees and an annual turnover of about SEK 1.9 billion.

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 50 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion. 

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Oakley agrees sale of Damovo

oakleycapital

Oakley Capital Private Equity II (“Fund II”) is pleased to announce that it has reached an agreement to sell its stake in Damovo Group (“Damovo”), a leading independent European unified communications and collaboration (“UC&C”) company, to UK Atlanta Holdings LLC. The transaction, which is subject to regulatory approval,  values Damovo at up to €140 million, comprising an upfront consideration of €115 million and further consideration of up to €25 million, dependent on Damovo’s financial performance in the year to 31 January 2019.

Oakley invested in Damovo in 2015, in a proprietary deal that was sourced via Oakley’s network of business founders and management teams, as is typical for Oakley investments. Matthew Riley, the successful UK entrepreneur and founder of Daisy, another Oakley portfolio company, identified the opportunity to acquire Damovo in a complex carve out. The underlying business units which were in need of new investment, were consolidated into one combined and cohesive company.

Under Oakley’s ownership, Damovo has been transformed into a recognised European specialist in delivering and managing critical UC&C solutions for enterprise and public-sector organisations. The business has returned to organic growth by winning and delivering large, multi-year managed services contracts, and this has been supported by the integration of three strategic acquisitions. This growth, as well as a more efficient group structure put in place by the experienced management team, has lead to the business more than doubling EBITDA since Oakley’s initial investment.

David Till, Senior Partner at Oakley Capital Private Equity, commented:

“We would like to thank Matthew Riley, Glen Williams, Stuart Hall and the team for their tireless work in transforming the business over the past three years. Damovo is now a very well-respected and competitive player in the growing European market. It has the highest levels of vendor accreditation and has won a number of awards for its excellent customer service.  We are proud of the part we have played in its evolution, with the business ideally positioned for its next phase.”

A team from EY led by Richard Harding and Olivier Wolf carried out vendor due diligence services for Damovo.

 

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CapMan Buyout to sell InfoCare Group to Katalysator

Funds managed by CapMan Buyout have agreed to sell their holdings in InfoCare Group to the Norwegian private equity investment company Katalysator.

CapMan Buyout funds’ exit from portfolio company InfoCare Group (“InfoCare”) is already the sixth transaction within the last eight months.

InfoCare is one of the leading IT services companies in the Nordic countries. InfoCare’s services comprise field service, staffing services and spare parts logistics within the IT sector. In 2017 the net sales of InfoCare was approximately MEUR 90 and it employed a total of 870 persons.

“InfoCare is an undisputed market leader for more than 30 years in the Nordics and over the last years, the company has undergone a significant reorganization in terms of divestment of non-core business, new management, initiating cost efficiency programs and a new strategy for growth. InfoCare has a lot of potential to create stronger growth in existing and new business areas with the help of highly professional employees and satisfied top tier customers,” says Hanna Ideström, Investment Director at CapMan Buyout and responsible for the investment in InfoCare.

“We are very satisfied to have Katalysator as the new majority owner of InfoCare. Katalysator’s active and long-term investment perspective is important for us to realize our new strategy Skylift. With main focus on Customer Orientation, Operational Excellence and Growth we are going to lift InfoCare to new heights. Together with Katalysator and our fantastic employees, that is our most important asset, will we make this happen. I would like to thank CapMan for the continuous support during CapMan’s ownership,” says Kjell Magne Leirgulen, CEO of InfoCare.

“InfoCare has established a unique position in the Nordic market within IT services and we are very impressed by the management team. Katalysator will through active ownership support the management team and the development of the business, with strong customer focus, best practice operations and new growth initiatives. We see a significant potential for continued growth in the Nordics and look forward to work together with InfoCare’s employees in the coming years,” says Jon Håkon Pran, CEO of Katalysator.

Katalysator is a family owned investment company focusing on investments in medium-sized companies in Scandinavia. Katalysator currently has a portfolio of 6 companies and the team comprises 5 investment professionals.

The completion of the transaction is pending certain conditions including approval from competition authorities. Bridgehead acted as an advisor for CapMan Buyout in the transaction.

The CapMan Buyout team comprises 12 investment professionals working in Helsinki and Stockholm. The funds managed by CapMan Buyout invest in medium-sized, unlisted companies in the Nordic countries.

For more information, please contact:
Hanna Ideström, Investment Director, CapMan Buyout, tel. +46 705 861 348
Kjell Magne Leirgulen, CEO, InfoCare Group, tel. +47 97 72 31 21
Jon Håkon Pran, CEO, Katalysator, tel. +47 91 33 93 42


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 approximately 120 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.

 

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Oura Health strengthens its position in the US market

Tesi

Oura Health, the Finnish health technology company behind the Oura ring, has moved its total private funding to 12.5M€ after the closure of a round led by US-based Bold Capital Partners and Finland’s Tesi. The company also appoints new board members with US industry expertise for latest growth phase.

The Oura ring and app guides wearers towards better sleep, recovery and readiness to perform by analyzing the body’s sleep, activity levels, daily rhythms and physiological responses. The funding will be used to scale US market operations and push the Oura platform forward.

Former Oura Health CEO Petteri Lahtela will focus on developing new products and services in his new roles as Oura Health President and Chief Innovation Officer while continuing his position on the Oura Health board. Former Ouraring Inc. President Harpreet Rai has been appointed as the new Oura Health CEO, with US industry specialists Stephen Friend and Kevin Lin also joining the Oura Health board.

“The successful launch of the new Oura ring shows the level of innovation and craftsmanship that Oura Health is capable of. Moving forward, our main goal is to drive awareness and sales in our largest market, while doubling down on the very innovation that brought us here in the first place,” says Harpreet Rai, CEO of Oura Heath.

“I have great respect for Harpreet. He knows the US market and can lead us towards growth and greater market penetration. I’m excited for this next phase for Oura, and am looking forward to focusing on new innovative products and services which I am most passionate about,” says Oura Health CIO Petteri Lahtela.

Oura Health CEO Harpreet Rai previously led investments in technology, media and telecom at New York-based Hedge Fund Eminence Capital. He is joined on Oura’s board by Twitch Co-founder and former COO Kevin Lin, and M.D., Ph.D. Stephen H. Friend, Chairman of the Board and Past-President of Sage Bionetworks, a non-profit organization that provides the tools and environment to conduct dynamic, large-scale collaborative biomedical research. Approximately 60% of active Oura users and pre-orders for the new Oura ring originate from the US.

“Oura has built an extremely capable team that combines and harnesses technological, commercial and design expertise. There has been strong demand for the new ring. Meanwhile, both operative and governance changes within the company will boost Oura’s growth and development. Finland is home to a number of international brands famous for products and services based on biometric measuring. Oura has all the resources needed to join this elite band,” says Jussi Sainiemi, Investment Director at Tesi.

“We have succeeded in creating a new category within wearables. We combined science, technology and design with ultimate wearing comfort. Bringing sleep and recovery from daily mental and physical strain into the core of the user experience with the first generation Oura ring was the right choice. Our users are very committed and our retention rates are much higher compared to wearables in general. We need to continue innovating in all areas to maintain our pioneering position,” concludes Lahtela.

—–

Mr. Kevin Lin, the co-founder and former COO of Twitch, has been appointed chairman of the board. He brings along his vast experience in scaling teams, building communities, growing sales and developing monetization strategies based on his experience at Twitch. He also notably raised multiple rounds of funding and delivered significant shareholder value with Twitch’s exit to Amazon.

M.D., Ph.D. Stephen H. Friend is the Chairman of the Board and Past-President of Sage Bionetworks, a non-profit organization that provides the tools and environment to conduct dynamic, large-scale collaborative biomedical research. Dr. Friend was most recently at Apple Inc. where he worked on ways to impact people’s lives in health and disease. Currently he’s designing a virtual institute to explore fundamental issues around how to make individual symptom predictions and how to return agency to individuals so they might navigate their own paths between health and disease.

Harpreet Rai is based in San Francisco and has a long background in finance. He was previously at Eminence Capital for 9 years, a multi-billion dollar hedge fund in New York City, where he led investments in technology, media and telecom. Prior to Eminence, Harpreet was at Morgan Stanley in their M&A group. Harpreet Rai joined Ouraring Inc., Oura Health’s US subsidiary, as President in 2017 and succeeds Petteri Lahtela as the new CEO, effective June 1st, 2018.

For additional information

Media kit with pictures

John Cozzi
press@ouraring.com

Jussi Sainiemi, Investment Director, Tesi
+358 40 564 4660
jussi.sainiemi@tesi.fi

About Oura Health Ltd.
Oura Health Ltd. is a Finnish health technology company founded in 2013. Oura is the world’s first wellness ring and app that shows how your body responds to your lifestyle by analyzing your sleep, activity levels, daily rhythms and the physiological responses in your body. Personalized for you, Oura guides you towards better sleep, recovery and readiness to perform. Oura has users in over 60 countries, and several top universities, research organizations, sleep clinics, and companies are utilizing the data and insights Oura provides.

In addition to the CES 2016 Best of Innovation Award, Oura Health has received among others the Fitness Award of the American Women’s Health Magazine in May 2016. In 2017, Oura Health was selected as the Best Health/Lifestyle Startup in Finland at the Nordic Startup Awards. Oura Health Ltd.’s HQ and major manufacturing facilities are located in Oulu, Finland. Other locations include Helsinki and San Francisco. For more information, visit www.ouraring.com.

About BOLD Capital Partners
BOLD Capital Partners (“BOLD”), is a venture capital firm targeting investments in early stage and growth technology companies. BOLD is particularly interested in entrepreneurial leaders that leverage exponential technologies to transform the world and create innovative solutions to humanities’ grand challenges. The investment platform leverages the resources of Singularity University and the Peter Diamandis ecosystem to actively seek and support world-class entrepreneurs. BOLD has offices in Santa Monica and Palo Alto, California.

About Tesi
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 €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi and @TesiFII

 

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EQT Real Estate sign lease agreements of 25,000 sqm in Cologne TechnologiePark

eqt

The EQT Real Estate I fund sign lease agreements with two existing tenants in Cologne. The lease represents around 25,000 sqm across three buildings. In the context of this lease, the concerned buildings are to undergo substantial modernization to bring them to a standard in line with today’s and future demands of occupiers.

Both tenants currently occupy space in the TechnologiePark of which they will re-lease 100% and expand into additional vacant space across the park. The EQT Real Estate team continue to work on improving the overall park to create a desirable and sought after office location within western Cologne.

Frank Forster, Director at EQT Partners and advisor to the fund, said: We’re thrilled that we could reach an agreement with one of our key tenants, whose name is closely connected with the city of Cologne to not only extend its presence in the park for the long term, but also to meaningfully enlarge it.

EQT Real Estate I have engaged Rhein Real Immobilien GmbH as their landlord representative and CTP Asset Management Services GmbH for the property management to help manage the office park.

Contacts
Frank Forster, Director at EQT Partners, Investment Advisor to EQT Real Estate I, +44 20 8432 5404

Robert Rackind, Partner and Head of EQT Real Estate at EQT Partners and Investment Advisor to EQT Real Estate I, +44 207 430 5555
EQT Press Office, +46 8 506 553 34

About EQT
EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 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 EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive “hands-on” asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.

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AURELIUS subsidiary Scandinavian Cosmetics strengthens its market position in Norway and Sweden

Aurelius Capital

  • The acquisition of Solis International Cosmetics AS and Alf Sörensen AB broadens the company’s market position substantially
  • These acquisitions will increase the revenues of Scandinavian Cosmetics Group to well over EUR 100 million
  • Accelerated growth of the existing luxury and consumer brands portfolio, and improved positioning of new Brands

Munich / Malmö (Sweden), July 5, 2018 – The Scandinavian Cosmetics Group, a subsidiary of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8), will acquire the Norwegian company Solis International Cosmetics AS and its Swedish subsidiary Alf Sörensen AB, effective June 30, 2018. This will strengthen the market position of the Scandinavian Cosmetics Group, which is the largest manufacturer-independent luxury and consumer brand management company for perfumes, cosmetics, hair care and skin care products in Denmark, Norway, Sweden and Finland. These acquisitions will increase the revenues of the Scandinavian Cosmetics Group by more than 15 percent to well over EUR 100 million. The business combination can further boost the above-average growth rate of the existing brand portfolio. At the same time, the ability to develop brands with a not-as-strong market presence will be permanently enhanced.

Solis International Cosmetics, based in Oslo, Norway, and Alf Sörensen, headquartered in Stockholm, Sweden, are the second-biggest and third-biggest independent distributors respectively of perfumes, skin care products, makeup and other cosmetic products of many well-known brands in their markets, and therefore make a perfect fit with the Scandinavian Cosmetics Group’s expansion strategy. Scandinavian Cosmetics already offers an extensive range of services related to online and offline brand development and market access in all relevant distribution channels, mainly perfume shops, drugstores, premium department stores and online shops. This will be further expanded strategically in the future.

“Since acquiring Scandinavian Cosmetics in early 2016 we have successfully broadened our position as an attractive partner for the positioning and marketing of luxury and consumer brands in the cosmetics and perfumes segment. With Scandinavian Cosmetics, we want to expand further, both organically and by means of a long-term M&A strategy,” said Nils Haase, the AURELIUS Vice President responsible for the realignment of Scandinavian Cosmetics. “This acquisition is an important milestone in this plan.”

About the Scandinavian Cosmetics Group

The Scandinavian Cosmetics Group emerged from the acquisition of the distribution business of Valora AG, and has belonged to the AURELIUS Group since January 1, 2016. It is the market-leading independent distributor of high-quality cosmetics and perfumes in Scandinavia, with operations in Denmark, Sweden, Norway and Finland. As a specialist in high-quality cosmetics and fragrances in the premium and luxury segment, and with extensive market access, the company covers all relevant distribution channels, primarily perfume shops, drugstores, premium department stores and online shops.

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Nordic Capital acquires healthcare-spend and clinical solutions company Prospitalia

Nordic Capital

  • Accelerating the growth of technology-enabled procurement services in healthcare with leading Group Purchasing Organisation

Nordic Capital Fund IX today announces the acquisition of Prospitalia, a leading healthcare-spend management and technology-enabled clinical solutions company for acute, post-acute and other healthcare service providers and vendors in Germany. Nordic Capital will support Prospitalia’s management in its plan to further strengthen the company’s market position and to further develop supporting technology-enabled healthcare procurement services. This acquisition is the third healthcare investment by Nordic Capital’s latest fund, Fund IX, and builds on Nordic Capital’s leading healthcare franchise in Europe.

Founded in 1993 and headquartered in Ulm, Germany, Prospitalia started as a Group Purchasing Organisation for healthcare providers in Germany. In recent years, the company has tapped into the significant opportunity for technology-enabled clinical solutions. Prospitalia optimises healthcare spend, promotes operating efficiency, strengthens clinical efficiency and improves compliance for its partners through superior technological solutions. The company’s solutions leverage multiple unique, rich data insights to drive its value added services, which have created deep and long-standing relationships with healthcare providers as well as suppliers. The company has almost 200 employees and serves over 3,000 customers in Germany, the UK, the Netherlands and Australia with an aggregated managed spend of EUR 2.4 billion.

Throughout over 25 years of healthcare and technology investing, Nordic Capital has gained significant experience in building high quality and sustainable businesses. Nordic Capital will support Prospitalia’s management as it continues to build the company into the platform of choice for healthcare-spend management and technology-enabled clinical solutions providers.

Prospitalia, which was acquired from Five Arrows Principal Investments, is the third healthcare investment for Nordic Capital Fund IX. Since inception in 1989, the Nordic Capital Funds have invested in 25 healthcare platforms across Europe and in the USA.

The parties have agreed to not disclose the financial details.

 

Media contact:

Nordic Capital

Katarina Janerud, Communications Manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 12 billion in close to 100 investments. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

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