Monthly Archives: December 2018

Robert Bosch Venture Capital participates in Graphcore’s USD 200 million Series D

Robert Bosch

A world leading AI chipmaker valued at USD 1.7bn

  • Early backer Robert Bosch Venture Capital continues its support after leading Series A
  • Machine intelligence training and inference at 10x to 100x the speed of current solutions
  • Investment Partner Dr. Hongquan Jiang: “Graphcore is changing the paradigm of AI computing in the cloud and at the edge”
18 December 2018, Stuttgart. Robert Bosch Venture Capital GmbH (RBVC), the corporate venture capital company, of the Bosch Group, participated in the just announced financing round of Graphcore. The AI (Artificial Intelligence) chipmaker just finalized a new USD 200 million funding round, which values the company at USD 1.7 billion

A new kind of processor

Graphcore has built a completely new kind of processor and software for AI and machine intelligence. It has been shipping first products to early access customers and generated first revenues this year, just two years after the company was founded. High volume production is now ramping up to meet customer demand for its Intelligent Processing Unit (IPU) PCIe processor cards. Graphcore’s IPU is the first processor to be designed specifically for machine intelligence training and inference and delivers an increase in speed of 10x to 100x compared to today’s hardware. “Graphcore is changing the paradigm of AI computing in the cloud and at the edge. The highly efficient and massively parallel IPU technology can significantly improve AI driven products in many categories such as autonomous driving and security”, says Dr. Hongquan Jiang, Investment Partner at RBVC and board member of Graphcore. “We are very excited to accompany Graphcore’s journey in becoming a global leading AI company”.

Rapid growth towards a global leading AI company

The company is currently in a stage of rapid growth and has tripled the size of its team in 2018. This rate of growth will now accelerate significantly driven by the new investment. The funding is a further step towards fulfilling the company’s ambition to build a global technology company, focused on this new and fast-growing machine intelligence market. RBVC led Graphcore’s Series A in 2016 and has continuously supported the company that has now raised over USD 300 million in funding. RBVC Managing Director Dr. Ingo Ramesohl says: “Graphcore is a perfect fit for the RBVC portfolio in artificial intelligence technologies. We see enormous business potential with Bosch.”

A new age of computing

Nigel Toon, CEO and co-founder of Graphcore, says: “Machine intelligence marks the start of a new age of computing which needs a radically different type of processor and software tools. This new, fast growing market creates the opportunity for Graphcore to build a major global technology company that can help innovators in AI achieve important breakthroughs.”

About RBVC GmbH

Robert Bosch Venture Capital GmbH (RBVC) is the corporate venture capital company of the Bosch Group, a leading global supplier of technology and services. RBVC invests worldwide in innovative start-up companies at all stages of their development. Its investment activities focus on technology companies working in areas of business of current and future relevance for Bosch, above all, automation and electrification, energy efficiency, enabling technologies, and healthcare systems. RBVC also invests in services and business models as well as new materials that are relevant to the above-mentioned areas of business.

Additional information is available at www.rbvc.com

About Graphcore
Graphcore’s Intelligence Processing Unit (IPU) hardware and software lets innovators create next generation machine intelligence solutions. The IPU is the first processor to be designed specifically for Machine Intelligence and delivers between 10x to 100x speed up compared to today’s hardware. Graphcore has raised over $300m in funding from leading financial and strategic investors and is headquartered in Bristol UK, with offices in London UK, Oslo Norway, Palo Alto USA and Beijing China.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 64,500 associates in research and development.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

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Egress Secures $40 Million Growth Equity Funding Led by FTV Capital

FTV Capital

Global private equity firm specializing in high-growth companies invests in Egress to accelerate global expansion

BOSTON — Egress, a leading provider of data privacy and compliance software designed to secure unstructured data, today announced it has raised $40 million in a Series C financing round led by FTV Capital, with continued participation from existing backer AlbionVC. Egress will use this investment to build on its ongoing rapid growth in Europe and North America, as well as accelerate development of new technology across its data security platform.

A market leader in privacy and risk management, Egress helps enterprises protect unstructured data to meet compliance requirements and drive business productivity. The company’s AI-powered platform enables users to control and secure the data they share in line with evolving compliance regulations, including GDPR, the NYDFS Cybersecurity Regulation (23 NYCRR 500), and the recently-passed California Consumer Privacy Act. Since raising $3.6 million in Series A funding in February 2014, Egress has grown ARR by 9x, acquired over 2,000 customers and now supports more than five million users globally.

Egress customer, the State of Delaware, has been using the technology to help protect highly sensitive data and manage compliance. “As a regulated US Government State Agency, we recognized the importance of selecting a best-of-breed security partner,” explained Director of Network Engineering Mark Cabry. “Egress understands our complex business requirements and their technical innovation has helped us to maintain privacy and mitigate risk when sharing data across and outside government, leading us to deploy the service state-wide. It is therefore of little surprise that Egress is continuing to gain significant traction throughout the US market.”

Tony Pepper, CEO and co-founder of Egress, commented on the announcement: “Today’s heightened security threats, combined with an increasingly complex regulatory landscape, means that organizations face considerable risk from data breaches, resulting in reputational damage and significant financial loss. At Egress, we help businesses mitigate this risk by wrapping security around the user and managing their experience using machine learning and AI. This risk-based approach helps users avoid potential mistakes, such as sending information to the wrong recipients, and provides security administrators with insight into behavioral anomalies across the business.”

“We are delighted to be partnering with FTV as we enter the next phase of our development,” Pepper continued. “A prominent growth equity firm with an impressive track record of helping similar companies in our space to scale rapidly, FTV will bring invaluable strategic expertise to help expand our technical capabilities and business operations into new markets and geographies.”

As part of the transaction, FTV partner Kyle Griswold will join the Egress board of directors.

“The need for comprehensive data security systems that help prevent data breaches and maintain compliance has become one of the key strategic priorities for businesses globally,” stated Griswold. “Egress’ user-centric strategy, combined with their use of AI-driven technical innovation, is helping to tackle these challenges head on. Their success in highly regulated markets is evidenced by their rapid growth and exceptional customer retention rates, which make them an ideal partner for FTV and an attractive solution for the financial institutions in our Global Partner Network.”

“By partnering with Egress at this point in their journey, FTV will offer strategic support and guidance designed to accelerate growth and capitalize on what is a significant market opportunity, in addition to commercial introductions to our Global Partner Network enterprises,” Griswold concluded.

Ed Lascelles, partner at AlbionVC, commented: “We look forward to supporting Egress as it enters the next stage of expansion. We have witnessed first-hand how the business has built out an enterprise-grade data security platform from a niche point solution, while growing into new verticals and geographies during the period. The demand for enhanced data security is only going to increase and so we remain excited about the team’s ability to continue delivering rapid growth.”

About Egress

Egress helps enterprises protect unstructured data to meet compliance requirements and drive business productivity. The company’s AI-powered platform enables users to control and secure the data they share.

The award-winning solution provides email and document classification, accidental send prevention, email and file protection, secure online collaboration and audit and compliance reporting.

Trusted by over 2,000 enterprise organizations and governments around the globe, Egress offers a seamless user experience, powerful real-time auditing and patented information rights management, all accessible via a single global identity.

A privately-held company, Egress has offices in London, UK, Boston, USA, and Toronto, Canada.

About FTV Capital

Celebrating its 20 year anniversary, FTV Capital is a growth equity investment firm that has raised over $2.7 billion to invest in high-growth companies offering a range of innovative solutions in three sectors: enterprise technology & services, financial services and payments & transaction processing. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in 107 portfolio companies including compliance/security and managed services companies such as A-LIGN, Aveksa (acquired by EMC), KVS (acquired by Veritas), ReliaQuest and Trustwave (acquired by Singapore Telecom). FTV has offices in San Francisco and New York. For more information, visit www.ftvcapital.com.

About AlbionVC

AlbionVC is the technology investment arm of Albion Capital Group LLP. The technology team invests from seed through to Series B in high growth companies, predominantly in the UK, with a particular focus on B2B software and technology enabled services. Albion has 20+ years’ experience investing in technology, has c.£450m FUM in technology companies and over 40 tech investments within its portfolios.

Albion Capital Group LLP is authorised and regulated by the Financial Conduct Authority

Visit: www.albion.vc

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Bolster Investment Partners acquires stake in Careflex Zorg Groep

Bolster

Bolster Investment Partners (‘Bolster’) has acquired a stake in Careflex Zorg Groep (‘Careflex’), an innovative provider of complex care solutions for institutions in mental, youth and disabled care. Bolster will support Careflex by securing its embedded qualities, implementing its growth strategy and further professionalizing the organization.

Careflex works from the conviction that complex care requires a different approach. Over the years Careflex has become a specialized partner with 330 employees responsible for the daily treatment of clients with challenging care questions. Careflex focuses on complex care questions, where seeing the bigger picture in providing the best care for the patents is the prerequisite for success. By working with specialized self-managing teams, Careflex is able to provide effective solutions as an external partner.

Mark van Rijn, partner at Bolster Investment Partners explains: “With its focus on high quality complex care with a distinctive approach, Careflex Zorg Groep fits well within our long-term investment philosophy. Careflex proves it is possible to deliver better patient care and have higher employee satisfaction at the same time by working with an integral and self-management approach. Following years of rapid expansion, it is important to further professionalize the organization. We are looking forward to supporting Careflex as an involved partner.”

Careflex Zorg Groep strives to grow organically, possibly in combination with cooperation with partners in the value chain. Being able to fulfill current market demand and further geographic expansion in the Netherlands are the logical next steps.

Hans Dons and Nardo Veldhuijzen, board of directors of Careflex Zorg Groep explain: “Our ambition is to expand our impact as the care provider in complex care, based on a clear and distinctive philosophy. It is great to be supported by a shareholder who shares our vision and philosophy. An equal partner who supports enthusiastic entrepreneurship.”

For more information please contact
Bolster Investment Partners
Mark van Rijn +31 20 226 3088

About Careflex Zorg Groep
Careflex provides solutions for institutions and individuals with complex healthcare questions. We do this by taking responsibility of client treatments and by coaching healthcare staff. In addition, we second specialists and generalists to support care institutions quickly with waiting list and staff issues. During 20 years of experience in disability care, mental care and youth care; Careflex has developed into the Dutch healthcare specialist.

Every day, over 300 experienced healthcare professionals are active at multiple care locations throughout the Netherlands. They are supported by an enthusiastic office team enabling them to find the best solutions.

About Bolster
Bolster Investment Partners is a long-term investor specializing in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and a proven business model. Bolster helps entrepreneurs realize their company’s full potential. By acting as equal partners to make the difference.

Bolster has a proven track record. As an investment firm we have collaborated successfully with over 100 companies since 1982. Having previously operated under the flag of Van Lanschot Participaties, in late 2017 the entire team became an independent unit operating under the name Bolster Investment Partners.

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Triton has signed an agreement to acquire Sunweb Group

Triton

Stockholm (Sweden) / Rotterdam (Netherlands) 18 December 2018 – Funds advised by Triton (“Triton“) have signed an agreement to acquire Sunweb Group (“Sunweb”), a leading European online tour operator. Terms of the transaction are not disclosed.

Founded 1991 in Netherlands, and with more than EUR 600m in turnover, Sunweb serves ~1 million customers annually providing packaged holidays to more than 20 focal destinations across Europe and the Mediterranean. As an online tour operator, Sunweb combines the best features of the online travel agencies’ asset light business model and the content quality and customer experience provided by traditional tour operators.

“Sunweb´s online tour operating model is a unique hybrid between traditional tour operators and online travel agencies. The value chain in travel is changing, and Sunweb has proven that its position and business model is resilient and winning in this complex environment. Directly sourced quality content sold directly to the consumer through Sunweb’s own digital sales channels makes the company well position to benefit from the megatrends of growing travel and increased conversion to online,” said Per Agebäck, Investment Advisory Professional, sector leader for consumer and advisor to the Triton Funds.

“We are pleased to welcome Triton as new majority owner of Sunweb. They have demonstrated deep sector knowledge of the travel space and is the right partner to the company as we continue investing in digital capabilities and expand across Europe,” said Joost Romeijn, founder of Sunweb, who will remain invested in the group.

Headquartered in Netherlands and Switzerland, with additional sales offices in core source markets, the company retains leading European market positions in both winter sports and summer holiday offerings. Consisting of the five powerhouse brands; Sunweb Sun, Sunweb Ski, Eliza was here, Primavera and GoGo, Sunweb Group has approximately 500 employees and direct contracts with 6,000+ accommodations including hotels, apartments and resorts. Growing from core markets in Netherlands, Belgium and France, the group has expanded into Denmark, Germany and the UK and continues to explore opportunities for geographic expansion.

“We look forward to actively supporting the management and employees as a stable owner by investing in and supporting the growth and development of the company. Our strong industry expertise, gained through other investments and strengthened by senior industry experts, will contribute in taking the company to the next level.” said Peder Prahl, Director of the General Partner for the Triton funds.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For more information please visit: www.triton-partners.com

About Sunweb Group
Sunweb Group is one of the leading travel groups in Europe with more than EUR 600m in turnover. It is the driving force behind numerous brands operating within seven international markets: The Netherlands, Denmark, Sweden, Belgium, United Kingdom, Germany and France. Sunweb is the flagship brand of the group.

Sunweb is a pure online player for packaged holidays towards sun and winter sport destinations.

Sunweb Group employs approximately 500 individuals and sends more than 400 representatives on to various holiday destinations to support its customers. The Sunweb Group has a pan-European identity with its tour operator activities based in Zurich, headquarters and back-office in Rotterdam, software and web development in Girona and various sales offices around Europe. The combination of a centralized organization, unique self-contracted content and strong online business model has resulted in over one million happy clients for Sunweb Group each year.

For more information please visit: www.sunwebgroup.com/

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The Carlyle Group to Acquire Leading Aircraft Engine MRO Provider StandardAero from Veritas Capital

Carlyle

WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced it has agreed to acquire StandardAero, a global provider of aftermarket engine maintenance, repair and overhaul (MRO) services for the aerospace and defense industries, from Veritas Capital. The transaction is subject to customary regulatory conditions and is expected to close by the end of the first quarter of 2019. Financial terms were not disclosed.

Russell Ford, CEO of StandardAero, said, “We are excited to partner with The Carlyle Group, and we thank Veritas Capital for its support and partnership. We look forward to working with Carlyle to further our aggressive growth trajectory as we continue providing world-class services to our customers as one of the world’s best and largest independent MRO service providers.”

Adam J. Palmer, Managing Director and Global Head of Aerospace, Defense and Government Services for The Carlyle Group, said, “Russell Ford and the StandardAero team have built a reputation for industry-leading capabilities and customer service. StandardAero is well positioned in an attractive market and we look forward to building on its strong foundation by helping it grow and meet evolving customer needs.”

Ramzi Musallam, CEO and Managing Partner of Veritas Capital, said, “We have enjoyed our successful partnership with StandardAero.  Russ and the StandardAero team have generated robust growth while consistently delivering outstanding services to customers through a relentless commitment to excellence. The StandardAero partnership underscores Veritas’ commitment to growing and adding lasting value to businesses in the aerospace and defense industries.  We wish the StandardAero management team all the best in their next phase of growth.”

Founded in 1911, StandardAero is one of the world’s largest independent MRO providers offering extensive services and custom solutions for commercial aviation, business aviation, military and industrial power customers. As an OEM-aligned strategic partner, StandardAero has developed a reputation for quality and performance that drives a sustainable competitive advantage and positions the company for future growth

Equity for the investment will come from Carlyle Partners VII, an $18.5 billion fund that focuses on buyout transactions in the United States.

Credit Suisse, RBC Capital Markets LLC and Macquarie Capital served as financial advisors to Carlyle, and Latham & Watkins LLP served as legal advisor. Credit Suisse, Goldman Sachs Merchant Banking Division, RBC Capital Markets LLC, Macquarie Capital, Barclays, Jefferies LLC, Nomura Securities and Goldman Sachs have agreed to provide debt financing for the transaction. Goldman Sachs & Co. served as lead financial advisor to StandardAero, and Morgan Stanley & Co. LLC also acted as a financial advisor on the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor.

* * * * *

Contacts:

The Carlyle Group
Christa Zipf: +1 (212) 813-4578
christa.zipf@carlyle.com

Veritas Capital
Andrew Cole/David Millar/Julie Rudnick
Sard Verbinnen & Co
212.687.8080
VeritasCapital-SVC@sardverb.com

StandardAero
Kyle Hultquist:  +1 (480) 377-3192
kyle.hultquist@standardaero.com

* * * * *

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $212 billion of assets under management across 339 investment vehicles as of September 30, 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 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About StandardAero

StandardAero is one of the world largest independent maintenance, repair and overhaul (MRO) providers. StandardAero offers extensive MRO services and custom solutions for business aviation, commercial aviation, military and industrial power customers. About 6,000 professional, administrative and technical employees work in 38 major facilities around the world, with additional strategically located regional service and support centers all across the globe. More information can be found on the company’s web site at www.standardaero.com.

About Veritas Capital

Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.

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Altice and KKR Announce the Creation of Hivory

KKR

LONDON–(BUSINESS WIRE)–Dec. 18, 2018– Altice Europe and KKR, a leading global investment firm, today jointly announce the creation of Hivory, the largest independent telecoms tower company in Franceand third largest European tower company. The creation of Hivory follows the successful completion of the transaction announced in June, of KKR’s acquisition of a 49.99% stake in a portfolio of more than 10,000 of Altice’s French towers.

Hivory is a high-quality telecoms infrastructure provider with a nationwide presence, benefiting from more than 10,000 strategically located sites with a diversified portfolio of ground-based towers and rooftops. The company is focused on serving the growing infrastructure needs for mobile operators to provide connectivity to all parts of the French population, meeting continued strong demand for data consumption and increased coverage.

Through Hivory, Altice and KKR will proactively seek to partner with all mobile operators to develop their coverage and densification objectives in France, through the build-to-suit of new towers and facilitating colocation needs in the French mobile market.

The company will seek to contribute to the development of French technology infrastructure and innovation, supporting telecom players on the eve of the ‘New Deal’ for French mobile and 5G roll out.

Alain Weill, CEO of Altice Europe, and Vincent Policard, Member at KKR in the European Infrastructure team, jointly said: “Altice and KKR are excited about the prospects for Hivory in improving mobile connectivity in France and building the telecommunications infrastructure critical for modern society. Hivory will benefit from strong market tailwinds, as well as the sector expertise and operational resources which Altice and KKR will provide through our partnership.”

-ends-

About Altice Europe

Altice Europe (ATC & ATCB), listed on Euronext Amsterdam, is a convergent leader in telecoms, content, media, entertainment and advertising. Altice delivers innovative, customer-centric products and solutions that connect and unlock the limitless potential of its over 30 million customers over fiber networks and mobile broadband. Altice is also a provider of enterprise digital solutions to millions of business customers. The company innovates with technology, research and development and enables people to live out their passions by providing original content, high-quality and compelling TV shows, and international, national and local news channels. Altice delivers live broadcast premium sports events and enables its customers to enjoy the most well-known media and entertainment.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business.

References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

Media Contacts
For Altice:
Arthur Dreyfuss
Head of Communications, Altice Europe
Phone: +41 79 946 4931
Email: arthur.dreyfuss@altice.net

For KKR:
Alastair Elwen Finsbury
Phone: +44(0)20 7251 3801
Email: alastair.elwen@finsbury.com

Olivier Blain
Adding Value Conseils
Email: ob@addingvalueconseils.com
Phone: +33 6 72 28 29 20

 

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Verdane invests in and merges HR Manager and Webcruiter

Verdane Capital

Verdane Edda has invested in HR Manager and Webcruiter, two leading suppliers of cloud-based HR and recruitment systems. The companies will be merged to create a leading Nordic platform for talent recruitment and development.

Once defined as the attraction of top talent, HR and recruitment have since developed into an integral part of corporate strategy that, in addition, encompasses talent management and development. As a result, the choice of HR software has come to be of critical importance.

HR Manager and Webcruiter hold individually strong positions in the market for cloud-based HR and recruitment systems. Webcruiter offers a specialized system for talent agents and leaders on the hunt for professional recruitment solutions. With more than 400 clients with users in over 120 markets, Webcruiter’s recruitment system handles over 1.9 million applications annually. The firm holds a leading position in the Norwegian market, particularly in the public sector, and is an active player in the Swedish market.

HR Manager has over 900 clients with users in more than 50 countries, and processes more than 3.5 million applications annually. The company’s integrated cloud-based platform for recruitment, employee introduction and talent development has established a strong market position in the Nordics.

Together, HR Manager and Webcruiter will form a company with Nordic growth ambitions, through both organic and add-on acquisitions, working to develop and broaden the available offering of cloud-based products and services for talent recruitment and development.

“HR Manager and Webcruiter’s combined competence, technology and solutions will bring forth promising new opportunities for both existing and new clients. We look forward to developing and establishing a leading Nordic platform together with Webcruiter,” says Lars Christian Ringdal, CEO at HR Manager.

Fredrik Mælum, CEO of Webcruiter, agrees. “We are a stellar fit across technology, client roster and culture. By coming together as one company we will be able to develop cloud-based solutions that support our clients’ strategic needs and operative work within recruitment, onboarding, talent development and HR leadership,” he says.

The Nordic market for HR software is valued at closer to NOK 5 billion, and faces significant changes in the years ahead. The market for cloud-based solutions is expected to grow at 10 to 20% per year until 2020, with far higher market penetration in the Nordics than in the rest of Europe and the US.

“HR Manager and Webcruiter both offer solid solutions and have very competent teams. This fusion will spark the development of even better products available to a greater number of clients across the Nordic market. We are pleased to contribute with our expertise, network and experience,” says Bjarne Lie, Managing Partner at Verdane Capital Advisors.

Verdane Edda will be the majority owner of the fused entity, which joins a Verdane roster of over 170 software and consumer internet investments made over the last 14 years. Expected revenue for HR Manager and Webcruiter stands at 55 and 49 million NOK, respectively, in 2018.

The parties have agreed not to disclose the terms of the transaction.

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DCI Group, in which Naxicap Partners has held a majority interest since 2016, continues its growth strategy by acquiring Retis

Naxicap

After buying hosted (i.e. cloud) services operator Lhexian in November 2017, DCI now announces the acquisition
of Retis, making it a major name in France’s digital services market with revenue over €90m.
DCI, a leading firm in IT integration and digital services providing infrastructure and cybersecurity solutions, announces its acquisition of Retis, a specialist in the digital workplace, IT infrastructure, cybersecurity and cabling.

This latest acquisition is being carried out with the help of a single-tranche loan from Idinvest Partners.
First established in 1993 and based in Montauban (Brittany), Retis has seen steep growth in recent years and is now a
recognised expert in cybersecurity and unified communications. The company has a diversified customer base across the French market, served by its network of 6 branch offices in Rennes, Paris, Lyon, Toulouse, Quimper and Nantes.
The new combined group becomes an outfit of critical size in digital services with more than 360 employees and a portfolio of over 1,000 active customers in both the public sector (universities, education, research, local authorities, healthcare, etc.) and the private sector (industry, finance and insurance, services, new tech, the press, etc.). It will continue its expansion by building on the many dovetailing aspects between DCI and Retis in terms of their technology portfolios, technical skills, types of customer, and geographical locations.

“This acquisition is consistent with DCI’s accelerated growth trajectory that we have been following since 2016 with our majority shareholder. These two companies, with the same market positioning, support and guide their customers throughout the value chain for digital transformation projects (feasibility, integration and post-implementation). By combining their talents and expertise, we aim to create a leading group in digital services on the French market,” says Fabrice Tusseau, President of DCI.
“After studying a number of options, I reached the conclusion I needed to sell the firm I started 25 years ago to another company in the market with a compatible business to dovetail with that of Retis, with similar values, able to ensure the long-term future of the work achieved in the interests of Retis’ employees and customers,” says Joël Cheritel, President and founder, Retis.

“This acquisition reflects a desire from management at both DCI and Naxicap Partners to actively pursue a strategy of
targeted acquisitions in IT consultancy and services, where the market is still fragmented and growth prospects high. We are particularly pleased with this acquisition which will help us expand our geographic coverage and strengthen the group’stechnological expertise, both of which make us stand out to clients.” Laurent Chouteau, Head of Investment at NAXICAP Partners.

Participants in the transaction:
DCI: Fabrice Tusseau, Nicolas Servage, Olivier Signoret
Naxicap Partners: Laurent Chouteau, Simon Ricque
DCI Corporate Investment Lawyer: Agilys (Baptiste Bellone, David Kalfon, Carolle Thain-Navarro, Madalina Suru,
Chloé Journel)
Financial DD: Exelmans (Stéphane Dahan, Manuel Manas, Amaury de Loisy, Chenwei Xu)
Single-tranche Debt: Idinvest Partners (Nicolas Nedelec, Emmanuelle Tanguy)
Bank debt Lawyers: Nabarro & Hinge (Jonathan Nabarro, Magali Béraud)

About Naxicap Partners:
One of France’s leading private equity companies, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €3.2 billion of capital under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The company has almost 35 investment professionals in five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt. For more information, please visit www.naxicap.fr

About Natixis Investment Managers*
Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered
by the expertise of 27 specialized investment managers globally, we apply Active ThinkingSM to deliver proactive
solutions that help clients pursue better outcomes in all markets. Natixis ranks among the world’s largest asset
management firms1 with more than $1 trillion assets under management2 (€861 billion AUM). Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a
subsidiary of BPCE, the second-largest banking group in France. For additional information, please visit the company’s website at im.natixis.com | LinkedIn: linkedin.com/company/natixis-investment-managers. Natixis Investment Managers includes all of the investment management and distribution entities affiliated with Natixis Distribution, L.P. and Natixis Investment Managers S.A. Natixis Distribution, L.P. is a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by affiliates of Natixis Investment Managers.

Provided by Natixis Investment Managers UK Limited which is authorised and regulated by the UK Financial Conduct
Authority (register no. 190258).
Registered Office: Natixis Investment Managers UK Limited, One Carter Lane, London, EC4V 5ER.
1 Cerulli Quantitative Update: Global Markets 2017 ranked Natixis Investment Managers (formerly Natixis Global Asset Management) as the 15th largest asset manager in the world based on assets under management as of December 31, 2016. 2Net asset value as at September 30 2018, Assets under management (“AUM”), as reported, may include notional assets, assets serviced, gross assets and other
types of non-regulatory AUM.

About DCI:
DCI has been a leading provider of digital services to private-sector businesses and public-sector organisations for more than 25 years. A recognised expert in infrastructure solutions (networks and mobility, data centres, unified
communications) and cybersecurity, DCI offers a unique value proposition in both cloud and on-premises modes. Driven by a culture focused on performance, technological innovation and customer satisfaction, DCI supports and guides 1,000 business customers throughout their solutions’ lifecycle, with audit, consultancy, project-mode integration, MCO and managed services. With 190 employees across France, DCI supports its customers’ operations 24/7, and home and abroad.

About Retis:
Retis, the IT services and consultancy specialist, delivers day-to-day support to organisations undertaking workplace digital transformation projects and in IT infrastructure management and security. Retis positions itself as a cybersecurity expert and has certified specialists to address organisations’ security issues in a comprehensive manner. From briefings and preliminary consultancy to the operational phase, Retis adopts a proactive approach and endeavours to deliver its customers expert services and advice to improve efficiency and performance. Retis is an independent firm currently employing 170 people, with offices across France, including in Nantes, Lyon, Paris, Quimper, Rennes and Toulouse. The preferred partner for the largest construction and publishing companies, Retis is well-established in a diverse ecosystem, and also has close links with the education sector. Retis’ wide-ranging customer base spans both the private and public sectors. Retis has been ISO 27001 certified since 2015.

About Idinvest Partners
With nearly €9 billion under management, Idinvest Partners is a recognised mid-market private equity firm in Europe.
Idinvest Partners has developed several additional areas of expertise, including: growth capital for young, innovative
European companies; mid-market private debt (single tranche, senior and subordinated loans); primary and secondary investments in unlisted European companies; and private equity consultancy. Founded in 1997, Idinvest Partners was a subsidiary of Allianz until 2010, when it became independent.

Press Contact:
Naxicap Partners
Valérie Sammut – Tel: +33 (0)4 72 10 87 99
valerie.sammut@naxicap.fr

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Ramudden acquires ViaSafe Sweden

Triton

Stockholm (Sweden), December 17 2018 – Ramudden AB (Ramudden), a Triton IV company, has acquired ViaSafe Sweden AB (ViaSafe) from construction company NCC AB (NCC).

ViaSafe manages road safety solutions in nine Swedish cities and has an annual turnover of approximately 100 million SEK with 60 employees. Further to the acquisition, Ramudden also signs a framework agreement to provide services to NCC.

Ramudden is a leading specialist provider of work zone safety control services for road, construction and general industry purposes active in Sweden, Norway, Finland and Estonia. In Sweden, Ramudden offers products and services to ensure road, construction site and industrial safety with offices in 55 locations across the country.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

 

Press Contact:

Triton
Fredrik Hazén
Phone:  +46 709 483 810

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Investor comments on ABB

Investor

Investor comments on ABB

2018-12-17 07:25 GMT+01

  • After successful transformation, now right time to divest Power Grids
  • Supports the board’s decision on new simplified organization

As announced today, ABB will divest the majority of its Power Grids division to Hitachi Ltd. As ABB’s largest shareholder, Investor fully supports this transaction.

“As a long-term, engaged owner, we focus on what we believe is best for each individual company, supporting them to become and stay best-in-class. This includes continuously evaluating, and if needed, adapting the corporate structure.

We have supported the ABB board and management’s decision, and execution, on its strategic direction, not the least the transformation of Power Grids. Over the past years, the division’s performance has improved in terms of higher quality, higher margins as well as reduced project risks, creating long-term value. We fully support the board’s decision on the next step. The divestiture of Power Grids to Hitachi is industrially logical, takes place at the appropriate time and allows ABB to focus on its automation and electrification businesses”, comments Johan Forssell, President and CEO of Investor.

In addition, ABB today also announced a new organizational structure.

“We fully support the organizational changes announced today. We are confident that simplification and decentralization, with a high degree of delegation of responsibility and accountability, are necessary steps to further improve ABB’s performance.
Having strengthened our ownership position over the past few years, we will continue to work actively to support ABB in its long-term value creation”, says Johan Forssell.

Investor is ABB’s largest owner, holding 10.7 percent of the capital and votes.

For further information:

Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability: +46 8 614 2058, +46 70 550 3500

Magnus Dalhammar, Head of Investor Relations: +46 8 614 2130, +46 73 524 2130

Our press releases can be accessed at www.investorab.com

Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based international companies. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.

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