Main Capital acquires healthcare communication SaaS specialist Enovation

Main Capital

Main Capital acquires Enovation, a Dutch market leading player in delivering mission-critical software solutions for secure communication in the healthcare and logistics markets. Selling shareholder, VANAD Group, provider of technology solutions and services related to customer experience will remain involved with Enovation post-acquisition via a minority stake. Enovation is based in Capelle aan den IJssel and delivers leading and innovative SaaS solutions for the Dutch healthcare and logistics markets. Well-known products include the ZorgMail, xdsConnect and myhealthConnect platforms and the healthcare interoperability solution Cloverleaf. Enovation’s products and related services support clients with the secure exchange of patient data within and between healthcare institutions as well as between healthcare professionals and patients. This enables healthcare professionals to deliver high-quality care, leveraging accurate and real-time information.

Enovation was founded in 1983 and has been part of the VANAD Group since 2013. Following its foundation, the company positioned itself as the most specialized software vendor and innovator in the secure healthcare communication domain. Enovation employs approximately 135 employees and generates tens of million euro’s in revenues. Over the years, the company strengthened its product portfolio with new innovative products, acquisitions of strategically interesting products and  complementary partner products. These developments allow Enovation to deliver a one-stop-shop solution enabling clients to securely exchange patient data by leveraging efficient IT integrations. The company is active in practically all healthcare segments and serves almost all Dutch hospitals, ambulance services, general practitioners, pharmacies, dentists, paramedical care providers and municipalities.

The healthcare market is characterized by complex IT systems in which individual participants use different communication standards. This hinders secure and efficient patient data exchange between IT systems of different healthcare institutions and between healthcare practitioners. The recently implemented European privacy regulation accelerates the need for healthcare institutions to implement secure communication solutions. Moreover, cost pressure on healthcare spending have led to an increased focus on efficient cooperation between parties in the healthcare value chain. The products of Enovation enable healthcare institutions and other stakeholders in the healthcare sector to exchange information in a safe and efficient manner, irrespective of the existing IT systems and with maximum protection against data leaks.

Going forward, Enovation will further capitalize on the trend towards Connected Healthcare. The company developed the myhealthConnect product, a hardware-agnostic software platform enabling care providers to monitor patients on distance. One of the benefits associated with myhealthConnect is that healthcare institutions have maximal flexibility in selecting monitoring devices and IT applications from various vendors. This prevents a lock-in while the software allows to securely connect these devices and applications with an organization’s own IT infrastructure. This secure efficiency gain enables high-quality remote care, reducing general practitioner visits and helping patients to live at home longer.

Enovation’s ambition is to grow towards a leading SaaS player in the northwest European healthcare market. The company will focus on realizing further organic growth and on the further development of innovative products. In addition to organic growth, Enovation will strengthen its product proposition and international market position by following a selective buy-and-build strategy.

The VANAD Group was advised by ING Corporate Finance and NautaDutilh.

 

Cooperation Enovation – Main Capital

Arthur Nederlof (CEO VANAD Group): “Over the past 35 years, Enovation has grown to a company associated with a high level of quality, an excellent culture, an exceptional client base, an outstanding (cloud) product portfolio, an increased level of own IP developed innovative software products, ample international growth potential and above all, a passionate team. We believe that Main Capital is the right partner to support Enovation to grow towards the next level. Going forward, the VANAD Group will focus on its Customer Experience propositions, the core activity that the VANAD Group is well-known for. The future looks promising for both Enovation and the VANAD Group”.

Charly Zwemstra (Managing Partner Main Capital): “Enovation offers innovative, mission-critical healthcare solutions facilitating internal- and external information exchange for healthcare institutions. With these solutions, the company facilitates the rising demand for healthcare cooperation. We see ample potential to organically grow within the current focus markets, in which the myhealthConnect and xdsConnect products particularly will play an important role. Additionally, we see ample opportunities for a buy-and-build strategy enabling Enovation to further grow in adjacent product- and market segments in the Netherlands and abroad. We would like to thank the VANAD Group for their trust in Main Capital and look forward to the cooperation with Enovation’s management team, led by Jeroen van Rijswijk and Marcel van der Velden.”

 Enovation

About Enovation

For over 35 years, Enovation is the specialist for secure healthcare communication solutions. The company focuses on facilitating information exchange between- and within healthcare institutions and between healthcare institutions and patients. The company’s product proposition comprises own developed IP solutions complemented with solutions of partners. The solutions are based on (international) standards and can be seamlessly integrated with existing processes and IT systems of healthcare institutions.

About Main Capital

Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital. Main Capital has approximately € 400 million under management for investments in mature but growing software companies in the Netherlands and Germany. An experienced team of professionals manages these Private Equity funds from offices in The Hague and Düsseldorf. Main Capital has a strong footprint in the healthcare SaaS market and acquired companies like SDB Ayton, Verklizan, RVC Medical IT and The Patient Safety Company before.

The current investment portfolio of Main Capital consists of growing (SaaS) software companies such as GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, Axxerion, b+m Informatik (Germany), Ymor, Roxit, Onguard, Sharewire, SecondFloor, Sofon and ChainPoint. Main Capital also has an interest in managed hosting provider Denit. Main Capital has a long-term perspective with the intention to build larger strong software groups. Main Capital has realized many successful exits such as recently Regas, Connexys (to Bullhorn) and ABIT / EuroSystems. Main Mezzanine Capital is another business line of Main Capital Partners and has provided mezzanine loans to, among others, The Valley, TravelBird, Talkwalker, Worldmeetings and BTC.

About VANAD Group

The VANAD Group is an internationally innovative family business. Over 1500 employees from all over the world work daily on innovative services and solutions for our customers. Over the years since 2005, VANAD Group has developed into a specialist in the field of digitization. Our assets are state-of-the-art technical knowledge, creative intelligence and most of all Happy People! We digitize activities where we cannot make a genuine, personal difference. In our approach and solutions we simply focus on being human. Because that is where we have the opportunity for real impact, human impact!

 

Note for the editor:
For more information, please contact:

Charly Zwemstra (Managing Partner)
Main Capital Partners BV, Paleisstraat 6, 2514 JA, Den Haag
Tel: +31 (0) 70 324 3433 / +31 (0) 6 512 77 805
charly@main.nl
www.main.nl

Arthur Nederlof (CEO)
VANAD Group, Rivium Westlaan 1, 2909 LD Capelle aan den IJssel
Tel: +31 (0) 10 288 1600 / +31 (0) 6 204 14 199
arthur@vanadgroup.com
www.vanadgroup.com

Appointments at Tesi

Tesi

Henri Hakamo has been appointed as Tesi’s Chief Digital Officer (CDO), Mikael Niemi as Investment Director and Elisa Lehmusniemi as Executive Assistant. Juha Lehtola returns to Tesi’s Venture Capital team as Director.

Henri Hakamo, M.Sc. (Econ), (32), has been appointed Chief Digital Officer with effect from 3 September 2018. CDO is a new position in Tesi. He will be a member of the Management Team and report to CEO Jan Sasse. Henri transfers to Tesi from a managerial position in BearingPoint, where he was in charge of Digital & Strategy consulting in the Middle East.

Juha Lehtola, M.Sc. (Technology), (42), returns to head Tesi’s Venture Capital team as Director. As a member of the Management Team, he will report to CEO Jan Sasse. Over the last two years. Juha was an Investment Manager in the European Investment Fund, specialising in investments in European venture capital funds.

Mikael Niemi, M.Sc. (Econ), M.Sc. (Technology), (38), has been appointed Investment Director, Growth & Industrial Investments with effect from 1 August 2018. Mikael transfers to Tesi from Armada Mezzanine Capital, in which he was a Partner.

Elisa Lehmusniemi, M.Sc. (Econ), (37), has been appointed Executive Assistant as from 13 August 2018. Elisa transfers to Tesi from Borenius Attorneys LLP, where she was an executive assistant.

“Tesi’s goal is twofold: to help Finnish companies grow and internationalise; and to develop Finland’s venture capital and private equity market. Our staff are in a key position in working towards this goal. I’m very pleased that we’ve succeeded in supplementing our teams with professionals who have valuable, broad-ranging experience in the fields of investment and corporate development,” say CEO Jan Sasse.

Further information:
Jan Sasse, CEO, tel: +358 40 861 9151

Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that invests profitably and responsibly, creating value from day one. Our investments under management total 1.2 billion euros and we have over 700 companies in portfolio, either directly or through funds. We help Finland to the next level of growth and internationalisation. Follow our success stories: www.tesi.fi / dtg.tesi.fi / @TesiFII.

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EU funding for growth of Finnish companies

Tesi

A new financing model of the EIB and Tesi will invest EUR 100 million to growth-oriented SMEs and innovative mid-cap companies over the next eight years.

The European Investment Bank (EIB) and the investment company Tesi (Finnish Industry Investment) have agreed on a financing programme to channel funding in support of the growth of Finnish companies. The operation is guaranteed under the European Fund for Strategic Investments (EFSI), central pillar of the Investment Plan for Europe of the Juncker Commission. The financing to be managed by Tesi targets a total of EUR 100 million to promising companies, equally split between the EIB and Tesi. Furthermore, the funding is structured to be complemented by private sector co-investments with another EUR 100 m, totalling EUR 200 m of new investments to the benefit of SMEs and mid-caps.

This financial mechanism supplements EIB funding in the form of equity type loans and equity financing by Tesi. The financing of EUR 15–30 million per company is targeted to growth-oriented SMEs and innovative mid-cap companies. In addition, each financing round must involve at least the same amount in private capital. This may be used e.g. to boost growth, internationalisation and product development.

“Finland has succeeded very well in making use of the financial instruments offered by the EU, which is also our Government’s objective. This applies, in particular, to funding from EFSI. The financing programme of Tesi and EIB published today is the first of its kind adopted in the Nordics. It will add to the available sources of risk finance and remove financial bottlenecks faced by growth companies. The programme will significantly boost the growth of innovative growth companies and mid-cap companies that are vital for our national economy and employment,” says Minister of Economic Affairs Mika Lintilä.

“The new financial model enables larger financing rounds than before and diversifies the financing structures of growth-oriented companies. It boosts the growth and internationalisation of companies and improves their ability to make significant investments. We are very happy to partner with EIB and channel equity financing of the EFSI to Finnish companies,” says CEO of Tesi Jan Sasse.

Competitiveness to European companies

Traditionally, the EIB has to large extent offered financing to companies in the form of loans and guarantees, which means that for EIB this is a rather new type of financing. Tesi is EIB’s first partner in the Nordics that channels EFSI-guaranteed financing to companies as direct capital investments.

”I think this operation is one to be proud of.” added EIB vice-president Alexander Stubb. “The platform is designed to fill-in market gaps in the Finnish equity investment landscape, which hinders companies’ development and internationalisation. Two of the priorities under the investment schemes supported by the EU are to support SMEs and to work together with National Promotional Institutions, so I believe we hit the bull’s-eye here.”

The European Fund for Strategic Investment EFSI is part of the Investment Plan for Europe, the Juncker plan. The aim is to secure the access to funding, investments and economic growth for European SMEs.

Jyrki Katainen, Commission Vice-President responsible for Jobs, Growth, Investment and Competitiveness, said: “The Investment Plan’s European Fund for Strategic Investments was designed to facilitate small and medium-sized enterprises gain access to finance they need to expand, innovate and create jobs. So far, around 700,000 small businesses across Europe are expected to benefit. I am delighted that, with today’s transaction, the Investment Plan will allow Finnish firms to benefit from EUR 100 million in financing opportunities.”

Press contacts:
EIB: Tim Smit, +352 691 286423, t.smit@eib.org – Twitter #EIB60 and Instagram
Tesi: Jan Sasse, CEO, +358 40 861 9151, jan.sasse@tesi.fi
European Commission: Siobhan Millbright, +32 22957361, Siobhan.millbright@ec.europa.eu – Twitter #investEU
MEE: Jukka Ihanus, +358 50 463 9929 and Jyrki Orpana, +358 50 409 4457, Twitter @Tem_uutiset

 

Background information:

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2017, the Bank made available in excess of EUR 1.3 billion in loans for Finnish projects.

About The Investment Plan for Europe
The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, and providing visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI) is the central pillar of the Juncker Plan. It provides a first loss guarantee, allowing the EIB to invest in more, often riskier, projects. So far, the projects and agreements approved for financing under the EFSI are expected to mobilise EUR 335 billion in investments and support around 700 000 SMEs across all 28 Member States. Find the latest EFSI figures by sector and by country here, or see the FAQs.

SME Small- and medium-sized enterprise
Enterprise which has fewer than 250 employees and an annual turnover not exceeding EUR 50 million or an annual balance-sheet total not exceeding EUR 43 million.

Mid-cap 
Company which has fewer than 3,000 employees and an annual turnover not exceeding EUR 300 million.

 

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Industrifonden exits OP5 – acquired by ITRS Group

Industriefonden

We are excited to announce that our portfolio company OP5 has been acquired by ITRS Group, the leading provider of real-time monitoring and analytics for financial services.

OP5 is a global leader in providing IT monitoring and log analysis technology built by enhancing the open source software of Nagios/Naemon and ELK (ElasticSearch, Logstash & Kibana). OP5 addresses the needs of enterprise customers by providing greater scalability, APIs for controlling the software and its configuration, and enhanced visualisation of the data. OP5’s 600+ customers include data centre providers, telecommunications, automotive and financial services.

Industrifonden made an initial investment in OP5 in 2004, together with other shareholders through their part ownership of KTH Seed Capital. OP5 has had a positive development the past years with a strong footprint in the market and a long list of well-known customers, both in Scandinavia and abroad. ITRS acquisition of OP5 also included OP5 Inc., the US subsidiary of OP5.

We strongly believe that the acquisition by ITRS creates excellent opportunities for a continued, positive development of OP5, says Martin Gemvik, Investment Manager at Industrifonden.

For more information on the acquisition: ITRS Group acquires OP5 to expand monitoring & log file analytics offering. 

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Kinnevik invests in Kolonial.no – the leading online grocery store in Norway

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that it has invested NOK 300m in Kolonial.no AS for a 15% stake in the Norwegian online grocery retailer.

Kinnevik invested NOK 200m in primary capital and a further NOK 100m in secondary shares. Kolonial.no was founded in 2013 and offers grocery delivery to approximately 40% of Norwegian households, a share that they expect to expand over time. The company grew revenues by 88% to approximately NOK 800m in 2017.

Andreas Bernström, Kinnevik Investment Director, commented:

“We are excited to lead the funding round in Kolonial.no, a company that fits squarely into our investment thesis of using technology to offer consumers more and better choice. We have been impressed by the founding team and what they have achieved in a relatively short period of time. Kinnevik is well placed to support the team in scaling the business and we look forward to working with Kolonial.no to reach their goals.”

Karl Munthe-Kaas, CEO Kolonial.no commented:

“Kinnevik is a dream partner for us. We feel there is a great fit in both the strategic vision and the values of our companies. Our ambition is to make grocery shopping an effortless and inspiring activity for everyone and bring freedom in their everyday lives. Kinnevik has the right expertise and the right mindset to help us in this journey and we are very excited to work with them.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build digital businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, develop and invest in fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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GCP Hospitality expands its Australia portfolio by acquiring Bell City mixed-use development in Melbourne

Gaw Capital

August 15, 2018, Hong Kong – Real estate private equity firm Gaw Capital Partners announced the acquisition of Bell City mixed-use development for AUD$157 million in Melbourne’s Preston precinct through its funds under management and its hospitality arm, GCP Hospitality.

Bell City, located just 20 minutes from Melbourne Airport and the CBD, consists of two hotels totaling 844 guestrooms under the Mantra and BreakFree brands, a conference complex, commercial tenancies, a 600-space car park and serviced offices.

In response to the growing popularity of community living, GCP Hospitality will work to incorporate a ‘co-living’ concept with vibrant social areas, a co-working hub, a state-of-the-art fitness center, in-vogue restaurants and bars, and an outdoor pool. Moreover, the Group will roll-out its modern student shared accommodation brand: Campus.

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, said, “We are excited about the opportunities this acquisition presents. In addition to giving us a foothold in the Melbourne market, this major hospitality asset will allow us to effectively roll out multiple concepts within the same project. After this acquisition, we look forward to further expansion opportunities in the Australia market.”

Christophe Vielle, CEO & Co-Founder of GCP Hospitality, said, “We are delighted to expand our footprint in Australia with this new acquisition. The increasing demand for modern community living concepts will allow us to introduce within Bell City an in mode ‘co-living’ concept as well as roll-out our student shared accommodation concept – Campus – which has been successfully launched in Hong Kong and is due to open in Perth’s city center in January 2019.”

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Priveq – a new growth partner for Frontit

Priveq

Frontit, an expansive company with services in management, project and program management and training, is bringing in Priveq Investment (“Priveq”) as a new growth partner for the future. Since 2007, Frontit has been owned by an individual principal owner, Pierre Bjurhager, and operated by Pierre Bjurhager together with management and staff. Now the company strengthens its position with Priveq as main owner and partner.

Today, Frontit has offices in Stockholm, Sundsvall, Västerås, Örebro, Norrköping and Malmö and about 190 employees. Priveq Investment is a company with 35 years of experience investing in profitable growth companies. Frontit’s operational focus will continue with former CEO Anneli Angeling together with corporate management and employees. Previous owners will remain in the ownership group.

Frontit offers senior consultants within management and IT to the private as well as the public sector and assists companies and organisations in managing operational changes. The company has been appointed one of the best working places in Sweden seven years in a row by “Great Place to Work” and had a turnover of SEK 188.5m in 2017.

Frontit is a value-based company with an open and inclusive corporate culture with the vision to “develop individuals and businesses to achieve their full potential”. For Frontit, it was important to find a partner who understands and respects the culture and recognizes the potential going forward. Priveq shares Frontit’s values and invests in companies of the same size with a strong management.

“We are impressed by how Frontit, with their service offering, has created a unique position on the market. We are looking forward to working together in the future and actively support Frontit in their development”, says Henrik Westfeldt, Partner at Priveq.

“We are very happy about teaming up with Priveq as a new growth partner to Frontit. We are excited about taking the company to the next level and we are convinced that Priveq, with their experience, will contribute to an exciting development for Frontit” says Anneli Angeling, CEO at Frontit.

For more information, please contact:

Henrik Westfeldt, Partner and Investment Manager, Priveq Investment
Tel: +46 (0)70 872 16 66
henrik.westfeldt@priveq.se

Anneli Angeling, CEO Frontit
Tel: +46 (0)70 221 12 58
anneli.angeling@frontit.se

About Frontit
Frontit assists companies and organisations to succeed with change management by providing effective consultancy services within business activities and IT. Frontit is passionate about creating extraordinary results by helping individuals and organisations reaching their full potential. The company has about 190 employees in Stockholm, Sundsvall, Västerås. Örebro, Norrköping and Malmö and has been awarded one of Sweden’s best places to work seven years in a row.
More information is available at www.frontit.se.

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Stagwell Media LLC Secures $260 Million Investment from AlpInvest Partners

Carlyle

AlpInvest Becomes the First Outside Investor in the Marketing Group Since Its Launch by Mark Penn and Steve Ballmer

WASHINGTON, D.C. – The Stagwell Group and AlpInvest Partners today announced the completion of a $260 million capital raise by Stagwell Media LLC from investment funds managed by AlpInvest Partners, a global private equity investor. Since its founding in 2015, Stagwell Group has completed seventeen investments and is on track for more than $400 million in consolidated net revenue this year. The new investment will support Stagwell’s strategy of building a network of innovative marketing and research companies.

“The marketing landscape is in the midst of a dramatic transformation and we are excited to have AlpInvest support our mission in creating a network of strategists and tacticians that is nimble and digital-centric, building a go-to resource for brands looking to succeed in today’s complex marketplace,” said Mark Penn, Managing Partner of the Stagwell Group. “We created Stagwell as a meaningful alternative to the holding companies, aptly named, since they have long been holding brands back from delivering on their full potential in a digital-first world.”

“Stagwell has demonstrated a superior operating model. Over the past three years, Mark and his team have built a highly attractive portfolio of world class digital-first marketing companies that drive significant results for brands,” said Michael Hacker, Managing Director, AlpInvest Partners.

“We are thrilled to support Stagwell through this secondary transaction at a key a moment in their development, as their portfolio continues to expand rapidly with exciting new capabilities and geographic reach that will allow Stagwell to compete on a global basis,” said Julian Rampelmann, Managing Director, AlpInvest Partners.

Management of the Stagwell Group remains the same. Further details of the transaction were not announced.

Mercury Capital Advisors served as the exclusive financial advisor to the Stagwell Group.

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About The Stagwell Group

The Stagwell Group LLC (the “Stagwell Group”) is a registered investment advisory company formed by Mark Penn. The Stagwell Group manages a private equity fund whose portfolio includes more than a dozen collaborative, digital-first agencies. Stagwell’s portfolio of high growth companies include digital marketing agency Forward 3D Group, media innovator MMI Agency, healthcare and consumer experts SCOUT, research leader Harris Insights & Analytics, performance marketing firm PMX Agency, creative digital leader Code and Theory, strategic communications agency SKDKnickerbocker, entertainment research innovator National Research Group (NRG), public relations firm Finn Partners, communications agency Wye Communications, digital advocacy shop Targeted Victory, creative advertising consultancy Wolfgang, online reputation management firm Reputation Defender and technology innovator Stagwell Technologies. Online at www.stagwellgroup.com.

About AlpInvest Partners
AlpInvest is a leading global private equity investor, with more than $45 billion of assets under management as of June 30, 2018 and more than 150 employees across offices in New York, Amsterdam, Hong Kong, San Francisco and Indianapolis. Since its inception, AlpInvest has invested with over 350 managers and committed $62 billion across over 640 primary commitments to private equity funds, more than 125 secondary transactions and in excess of 230 equity co-investments. AlpInvest offers customized private equity investment solutions to investors through separately managed accounts and commingled funds. AlpInvest operates as a subsidiary of The Carlyle Group (NASDAQ: CG), a global alternative asset manager with $210 billion of assets under management as of June 30, 2018. For more information, please visit www.alpinvest.com.

Media Contact for the Stagwell Group
Beth Lester Sidhu
Phone: +1 (202)423-4414
beth@stagwellgroup.com

Media Contact for AlpInvest Partners
Maaike van der Schoot
Phone: +31 (0) 20 540 7628
maaike.van.der.schoot@alpinvest.com

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Litorina completes fundraising of Litorina V at the 3 billion SEK target

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Litorina

Litorina closed the raising of Litorina V on August 14 at the 3 billion SEK target, representing an increase of 20% to Litorina IV. The Fund will continue the successful strategy of investing in primarily Swedish companies valued at 200-1000 million SEK.

Investors are well reputed institutions from Europe, North America and Asia with a mix of pension funds, asset managers, insurance companies and funds-of-funds. Building on the successful strategy of predecessor funds, Litorina V will focus on majority investments in primarily owner-led companies with opportunities to accelerate growth and value creation through a clear agenda in partnership with earlier owners.

Litorina V has already made investments in the exciting growth company Digpro and in Bergfalk and Johan i Hallen, who together form a new group.

Legal advisers for the fundraising were Proskauer and Vinge, with Quest acting as placement agent.

For additional information, please contact:
Jörgen Ekberg, Managing Partner, +46 708 113 16

Litorina, founded in 1998, focuses on acquiring and industrially developing companies together with their management teams. Litorina offers broad and deep expertise both via its own organization and through its network of industrial advisors. Litorina V Advisor AB serves as an investment advisor to the Swedish private equity fund Litorina V AB. For more information, please visit http://www.litorina.se..

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TA Associates Announces New Hires in Menlo Park

TA associates

BOSTON and MENLO PARK – TA Associates, a leading global growth private equity firm, today announced the recent hiring of Calen Angert and Nicholas Leppla, who have rejoined the firm as Vice Presidents in its Menlo Park office.

“We are thrilled to welcome back Calen and Nick to the firm,” said Brian J. Conway, Chairman and Managing Partner at TA Associates. “As Associates, both proved to be valuable contributors to TA on several fronts, particularly in our deal sourcing and due diligence efforts. We look forward to Calen and Nick’s contributions as we continue to seek investments in profitable growth companies and partner with the management teams of our portfolio companies to create further value.”

Calen Angert focuses on investments in healthcare companies across North America. Prior to attending graduate school, he served as an Associate in the Boston office of TA Associates. Mr. Angert previously served as an Analyst in the Healthcare Investment Banking Group at Morgan Stanley. He received a BSBA, magna cum laude, in Finance from the McDonough School of Business at Georgetown University and an MBA from the Stanford Graduate School of Business.

Nicholas Leppla focuses on investments in technology companies across North America. Prior to attending graduate school, he served as an Associate in the Menlo Park office of TA Associates. Mr. Leppla previously served as the Chief of Staff of AVG Technologies, a former TA portfolio company, and as an Analyst in the Technology, Media and Telecommunications Investment Banking Group at J.P. Morgan. He received a BA in Economics and Engineering Sciences (Environmental) from Yale University and an MBA from the Stanford Graduate School of Business.

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 committing to new investments at the pace of $1.5 to $2 billion per year. The firm’s more than 85 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.

 

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