DIF announces brand name change to DIF Capital Partners


DIF is pleased to announce that we have changed the DIF brand name to DIF Capital Partners. The name change is a result of the global growth of our firm and improves the recognition of DIF as global investment firm, acting as a partnership.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America, Latin America and Australasia through two complementary strategies:

  • DIF Infrastructure funds target equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams.
  • DIF CIF funds target equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 125 professionals, based in nine offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Thijs Verburg, Director
Email: t.verburg@dif.eu

Categories: News


EQT to acquire majority interest in Aldevron – the leading global supplier of plasmid DNA used in cell and gene therapies


  • EQT to partner with founder and CEO Michael Chambers, as well as TA Associates, to support Aldevron on its future growth journey
  • EQT will support Aldevron through investments in additional production capacity, R&D, and growth initiatives and by leveraging EQT’s strong healthcare expertise, global presence, and network of Industrial Advisors

The EQT VIII Fund (“EQT” or “EQT VIII”) today announced that it has entered into an agreement to acquire a majority interest in Aldevron (the “Company”). Following the close of the transaction, EQT VIII will own a majority interest in the Company. Founders, management and TA Associates will retain a minority stake.

Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron is the leading global supplier of GMP, GMP-SourceTM and Research Grade plasmid DNA used in commercial, clinical and research stage gene therapies, as well as proteins, antibodies and mRNA. The Company’s custom development and manufacturing capabilities enable scientists worldwide to develop groundbreaking new therapies with a focus on quality, speed and innovation. Aldevron is based in Fargo, North Dakota and has additional operations in Madison, Wisconsin and Freiburg, Germany. The Company employs approximately 400 people worldwide and serves more than 4,800 clients, including leading academic and research institutions, pharmaceutical and biotechnology companies.

EQT will help advance Aldevron’s R&D and innovation efforts as the Company continues to

support the rapidly growing field of genetic medicine by providing a critical input for the development of new life-saving therapies. EQT will also support Aldevron with investments in additional production capacity at its Fargo campus, furthering the Company’s position as a key employer in North Dakota.

Michael Chambers, Co-Founder and CEO of Aldevron, commented: “We’re very proud of what Aldevron has accomplished over the past two decades. We remain committed to our clients and their work, and to our mission – to develop and manufacture biologics at the highest quality that help make meaningful changes, worldwide. EQT shares our strong values and commitment to excellence and we believe their significant healthcare experience, global presence and industrial network make them an ideal partner as we continue our growth journey.”

Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VIII, said: “EQT has followed the life science tools and gene therapy market closely for many years, and we believe Aldevron is uniquely positioned as a critical supplier to this rapidly growing market. The Company helps its clients deliver leading edge therapies that address previously uncurable medical conditions and improve patient lives around the world. Aldevron has unparalleled scientific-know how, scale and process expertise, enabling the Company to deliver the highest quality products. We are excited to partner with Michael and his team to further develop Aldevron and invest in the Fargo community in these exciting times.”

Marc Wolff, CFO of Aldevron, said: “EQT is among the top 10 private equity investors in the world. They bring considerable financial strength and international reach to Aldevron. With EQT’s strategic approach, TA Associates’ experience with us, and their collective ability to provide informed, industry guidance, we will be in an excellent position for continued growth, which will further bolster our commitment to our clients, their work and the patients they serve.”

Ethan Liebermann, Director at TA Associates, said: “We have been pleased with our partnership with Michael and the Aldevron team and are looking forward to continuing this journey with our new partners at EQT.”

Mark Carter, Managing Director at TA Associates, added: “EQT is one of the most respected firms in private equity and we are eager to embark on a new chapter together at Aldevron.”

Morten Hummelmose, Chairman of EQT Partners Inc. and Head of EQT Equity US, said: “This transaction represents another important milestone for EQT in the US. EQT VIII has now invested in US businesses within each of our three core sectors, Healthcare, TMT and Business Services, and we are excited to continue EQT’s successful track record of developing companies across these industries.”

The transaction is expected to close by year-end, subject to regulatory conditions and approvals.

Morgan Stanley & Co. LLC acted as financial advisor to EQT, and Simpson Thacher & Bartlett LLP provided legal counsel. Goldman Sachs acted as financial advisor to TA Associates, and Kirkland & Ellis LLP provided legal counsel.

Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VIII, +1 917 281 0850
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtpartners.com

About TA Associates
TA Associates is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 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 high quality growth companies. TA has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $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.

About Aldevron
Aldevron serves the biotechnology industry with custom production of nucleic acids, proteins, and antibodies. Thousands of clients use Aldevron-produced plasmids, RNA and gene editing enzymes for projects ranging from discovery research to clinical trials to commercial applications. These products are critical raw materials and key components in commercially available drugs and medical devices. Aldevron is known for inventing the GMP-SourceTM quality system, and for specializing in GMP manufacturing, operating the world’s largest facility at its company headquarters in Fargo, North Dakota. Aldevron has additional facilities in Madison, Wisconsin, and Freiburg, Germany.More info: www.aldevron.com

Categories: News


EQT invests in Nexon, a leading managed IT services provider in Australia


  • EQT Mid Market Asia acquires a majority stake in Nexon Asia Pacific, a leading end to end managed IT services provider in Australia
  • Nexon delivers innovative, integrated, tailored and scalable solutions to support IT functions of clients across the commercial, public and not-for-profit sectors
  • Co-founder and CEO Barry Assaf will remain a significant shareholder and the existing management team will continue to drive Nexon’s next phase of growth

The EQT Mid Market Asia III fund (“EQT” or “EQT Mid Market Asia”) has entered into an agreement to invest in Nexon Asia Pacific Pty Limited (“Nexon” or the “Company”).

Nexon, an Australian cloud and managed service provider, has been providing dynamic IT solutions to clients across commercial, public and not-for-profit sectors since 2000. The offering includes six interconnected solutions: Secure Networks, Unified Communications, Cloud Services, Managed Security, Business Solutions and Digital Workspace, wrapped with Nexon managed IT services. The Company has a diversified customer base with over 400 customer groups and has built strong customer relationships within the mid-market and government segments. Given its customer-centric mindset and focus on innovation and solutions development, the Company has consistently achieved high customer satisfaction and retention rates. In addition, Nexon has delivered upon a steady expansion strategy with several acquisitions since inception.

Going forward, the strategy is to further enhance and develop the IT services offering, grow the client portfolio, continue seeking value accretive acquisitions and strengthen the scalability of the platform. The Company is expected to benefit from strong underlying secular trends, including increased share of IT outsourcing and growing cloud adoption.

Barry Assaf, co-founder and CEO of Nexon, said: “With our unwavering commitment to service, innovation and delivery, we are excited to enter our next phase of growth. EQT will provide both the capital and competence needed to rapidly grow our solution offerings and to innovate.”

Tak Wai Chung, Partner at EQT Partners and Investment Advisor to EQT Mid Market Asia, concluded: “We are impressed with Nexon’s experienced management team, deep service development focus, strong recurring revenue profile and leading position in the mid-market and government segment. Nexon is an attractive platform to drive consolidation in a fragmented market. EQT’s expertise within the TMT and services sectors, coupled with a strong network of Industrial Advisors will support Nexon’s management team and employees in its next phase of growth and transformation.”

Tak Wai Chung, Partner at EQT Partners and Investment Advisor to EQT Mid Market Asia +65 6595 1830

EQT Press Office press@eqtpartners.com +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Nexon
Established in 2000, Nexon Asia Pacific (Nexon) is a cloud and managed service provider helping clients run more efficiently, create better user experiences and explore bigger opportunities. We’re a trusted technology partner for mid-market businesses, government agencies and not-for-profit organisations throughout Australia and the Asia-Pacific region. Nexon supports businesses on their digital transformation, from network to SIP, to business solutions and everything else in between, allowing clients the ability to work seamless across any cloud, anytime and any device.

More info: nexon.com.au

Categories: News


The Apax Digital Fund to acquire MetaMetrics, developer of the Lexile and Quantile Frameworks

Apax Digital

The investment will further the company’s mission to accelerate learning for students by bringing meaning to measurement

New York and Durham, North Carolina – July 30, 2019: MetaMetrics®, developer of the widely adopted Lexile Framework® for Reading and Quantile Framework® for Mathematics, today announced that the Apax Digital Fund, the technology-focused growth equity fund advised by global private equity advisory firm Apax Partners, has entered into a definitive agreement to acquire the company from Pamlico Capital. The transaction is expected to complete in September 2019, subject to regulatory approval. Financial terms were not disclosed. The Apax Digital Fund to acquire MetaMetrics, developer of the Lexile and Quantile Frameworks

Founded in 1984 and based in the Research Triangle in North Carolina, MetaMetrics is a pioneer in the use of predictive analytics and data science to improve educational outcomes. MetaMetrics provides universal measures of reading and math skills achievement through the Lexile® and Quantile® frameworks. The frameworks place both the student and instructional material on the same scale to match the learner with reading and math resources at each student’s ability level. When students receive Lexile and Quantile measures, their test scores become more actionable, allowing teachers and parents to link assessment to instruction. MetaMetrics’ partners include leading providers of educational technology and assessment solutions, state departments of education and publishers who incorporate MetaMetrics’ scales in their products. More than 35 million students receive a Lexile measure each year.

Leveraging Apax’s experience in education, data and analytics, and software, the Apax Digital team will support MetaMetrics in delivering increased value to students, educators and the company’s partners, in particular through new product development and international expansion.

Malbert Smith III, Ph.D., co-founder and CEO of MetaMetrics said, “Apax Digital is the ideal partner for MetaMetrics as we continue to deepen our value proposition for students, teachers, parents and partners. Apax’s experience in the education space, its significant operational excellence capabilities, and its global platform will be extremely valuable assets as we grow MetaMetrics in the years ahead. We would also like to thank Pamlico for all its support over the past four years.”

Marcelo Gigliani, managing partner of Apax Digital, said, “Few things are more important than accelerating children’s learning. Malbert and the MetaMetrics team have developed a suite of category-defining measurement scales that support student growth and personalized learning. We look forward to partnering with Malbert and his team to continue to enrich their products and accelerate the company’s international expansion.”

Zach Fuchs, vice president of Apax Digital, added, “We look forward to supporting MetaMetrics and share the company’s goal of empowering educators and parents with valuable information to help children build strong literacy skills.”

Scott Stevens, partner of Pamlico Capital, shared: “It’s been a pleasure partnering with Malbert and the entire MetaMetrics team. We appreciate all the hard work put into the business over the last four years with us and we are excited to see what MetaMetrics continues to accomplish with Apax Digital moving forward.”

Raymond James & Associates served as exclusive financial adviser to MetaMetrics in connection with the transaction.

About MetaMetrics
MetaMetrics® is an award-winning education technology organization that offers the only scientifically valid, universal scales for measuring reading and listening (Lexile®) as well as math (Quantile®). The Lexile and Quantile Frameworks measure student ability and the complexity of the content they encounter. Lexile and Quantile measures and related technologies link assessment to instruction and provide next steps for students of all ages and abilities. The measures also provide valuable insights about students’ potential for growth. MetaMetrics’ measures, products and services are licensed to dozens of education product companies to help achieve that growth. For 35 years, MetaMetrics’ work has been increasingly recognized for its research-based approach to improving learning. For more information, visit metametricsinc.com.

About Apax Digital 

The Apax Digital Fund specializes in growth equity and buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. The Apax Digital team leverages Apax Partners’ deep tech investing expertise, global platform, and specialized operating experts, to enable technology companies and their management teams to accelerate the achievement of their full potential. For further information, please visit http://digital.apax.com.

Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About Pamlico Capital 

Pamlico Capital is a private equity firm founded in 1988 that invests in lower middle market companies in the U.S. Pamlico Capital seeks control-oriented growth equity investments alongside proven management teams in its target industries: business & technology services, communications, and healthcare. Since inception, the firm, based in Charlotte, NC, has invested over $3 billion. For additional information, please visit https://www.pamlicocapital.com.

Media Contacts

For MetaMetrics

Lisa Wolfe, L. Wolfe Communications | +1 312-953-8085 | lwolfe@lwolfe.com

For Apax Digital / Apax Partners

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

U.S. Media: Todd Fogarty, Connor Moriarty, Kekst CNC | +1 212 521 4800 | Apax@kekstcnc.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For Pamlico Capital

All Media: Gillian Rhew | +1 704 414 7126 | gillian.rhew@pamlicocapital.com

Notes to Editors 

London-headquartered Apax Partners (www.apax.com), and Paris-headquartered Apax Partners (www.apax.fr) had a shared history but are separate, independent private equity firms.

Categories: News


AgroSavfe raises EUR 35 million, Gimv invests additional resources for further development of biocontrols as a new standard for sustainable crop protection.


Gimv is increasing its commitment to AgroSavfe, an innovative food and agro-biotech company developing environmentally friendly plant protection products. As co-founder and lead investor, Gimv participates in a Series C financing round of EUR 35 million, in which Ackermans & van Haaren joins as a new investor, in addition to the existing shareholders who also participate. The financing will support the further development of biocontrols – intended for biological crop protection – as a new standard for sustainable agriculture.

As an emerging food and agro-biotech company, AgroSavfe (Ghent, www.agrosavfe.com) is responding to the challenge for the food and agricultural sector to improve production efficiency in a sustainable way while respecting the environment. Founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology), AgroSavfe designs and develops a new generation of protein-based biocontrols that provide safe, sustainable and efficient protection for seeds, crops and food, without leaving behind harmful chemicals. Over the past years, the company has developed a high-performance technology platform that allows the identification and testing of biocontrols for stability, effectiveness and scalability, all to protect the food chain from farm to fork.

Gimv has supported AgroSavfe from the start as a co-founder and lead investor in a consortium of reputed local and international biotech investors, including Sofinnova Partners, PMV, Agri Investment Fund, K & E, Biovest, Madeli Participaties, VIB and Qbic. Today Gimv participates -in addition to all historical investors- in the Series C financing round of EUR 35 million. With an investment of EUR 10 million, Ackermans & van Haaren is also joining AgroSavfe as a new shareholder.

Patrick Van Beneden, Partner in the Health & Care team of Gimv, about this new phase: “We are delighted with this major step forward and are convinced that AgroSavfe is well placed to contribute to the development of a new standard for sustainable agriculture. As a new shareholder, Ackermans & van Haaren brings additional diversity and expertise to the management of the company and, together with the existing investor syndicate, we look forward to further developing AgroSavfe as a leader in the emerging field of efficient and safe biocontrols for the food and agricultural industry.”

Lieven De Smedt, Chairman of the Board of AgroSavfe, states: “Biotechnology has created significant and unique added value in the Life Sciences, food and chemical markets in recent decades. Today we see the same happening in the agricultural sector, both in the US and in Europe. Long-term success depends not only on robust technology and a strong business-minded management, it also requires long-term shareholders. AgroSavfe has a unique combination of all of the above. We thank our historic shareholders who fully endorse this financing round and welcome Piet Bevernage who -on behalf of Ackermans & van Haaren- wil join our Board. We are all looking forward to taking the company to a higher level.”

The new resources will primarily be used to enhance the further development, registration and commercial scale production of AgroSavfe’s biofungicides and bio-insecticides and for the further strengthening of the business organization. BioFun 1, the first product in the AgroSavfe pipeline, is aimed at controlling fungi on fruit and vegetables. With more than 100 field trials by the end of 2019, the company has demonstrated the strong performance of its advanced biofungicide product: environmentally friendly, as effective as chemical solutions and food safe, as biocontrols leave no harmful chemicals behind. The launch of this first biofungicide product is planned for 2022 in the US fruit and vegetable market, immediately followed by a launch in Europe and other regions globally. In addition, the funds will support the acceleration of the innovative pipeline development for applications against critical food and crop pests and diseases.

Categories: News


Gimv sells stake in thinkstep AG, the Stuttgart-based specialist in sustainability software.


Gimv, together with all other shareholders, is selling its stake in Stuttgart-based software firm thinkstep AG (www.thinkstep.com) to US software provider Sphera Solutions. Thanks to the long-term support of all investors, thinkstep has grown substantially and successfully transformed its business model into a software-as-a-service solution (SaaS).

Headquartered in Leinfelden-Echterdingen near Stuttgart, thinkstep was founded in 1991 as a provider of software and consulting services supporting companies globally in sustainability management and reducing their environmental footprint. In the last few years, thinkstep has continuously expanded its impressive customer base and now serves over 2,000 clients in 20 industries, including a large number of Fortune 500 companies in Germany and around the world.

thinkstep AG operates in three fields. Corporate Sustainability introduces and implements sustainability processes, such as enterprise-wide energy management, corporate social responsibility management and active resource optimization. Product Sustainability helps clients take account of environmental issues early in the design stage in order to fully integrate adequate measures into product management and production processes. thinkstep’s Product Compliance solution identifies and mitigates compliance and reputation risks at an early stage.

Gimv first invested in thinkstep in 2010, acquiring a minority stake alongside Next47 with the aim to provide capital, know-how and connections to help the firm expand globally, strengthen its operations, and switching from a licence-based model to SaaS. Over time, Gimv and Next47 gradually increased their investment while some of the founders remained on board as minority shareholders. In this way, thinkstep has expanded to become a world-leading software provider in enterprise sustainability and compliance solutions. The exit of the current shareholders and the planned integration of the business into the operations of Sphera marks the next step in the company’s successful development.

Dr. Sven Oleownik, Partner and Head of Germany at Gimv, says, “Over the past few years, thinkstep has undergone a remarkable transformation and fundamentally converted its business model. Global activity and technological development have been driven forward, all on the back of an extremely loyal customer base. Rising expectations among both investors and consumers for companies to do business in an ethical and environmentally conscious way result in a highly attractive and rapidly expanding market for sustainability solutions. thinkstep is therefore ideally positioned for the future and will continue to extend its market leadership under its new owners.”

Lisa Hengerer, Associate at Gimv’s Smart Industries platform in Munich, adds: “thinkstep has been another success within the software segment of Gimv’s Smart Industries platform. This sale to a global industrial player from the US is an excellent example how Gimv Smart Industries supports its portfolio companies in their strategic development and on their growth path to become attractive for an international renowned industrial player like Sphera Solutions.”

This exit has no major impact on the Net Asset Value of Gimv as of 31 March 2019. The transaction is subject to the usual conditions, including approval by the competition authorities. No further financial details on this transaction are being published.

Categories: News


Proposed sale of Ontic for $1,365 million to CVC Fund Vll

Transaction unanimously supported by the BBA board as being in the best interests of shareholders

BBA Aviation plc, a market-leading provider of global aviation support and aftermarket services, is pleased to announce that it has entered into an agreement for the sale of Ontic, a leading provider of high-quality, OEM-licensed parts for legacy aerospace platforms, to CVC Fund Vll, for an enterprise value of $1,365 million, subject, inter alia to shareholder approval and regulatory consents.

Transaction highlights

  • Sale of Ontic for an enterprise value of $1,365 million, on a cash-free, debt-free basis
  • Transaction multiple meaningfully above BBA’s trading multiple of 11.4x FY18 underlying EBITDA
  • Transaction unanimously supported by the BBA Board as being in the best interests of shareholders
  • Transaction will enable enhanced focus and investment in the company’s market-leading Signature business, which the board believes to be a significant source of future shareholder value creation
  • Transaction should allow for a capital return to shareholders expected to be between $750 million and $850 million, to help ensure that the net debt of the retained group remains near the lower end of the stated target range of net debt to underlying adjusted EBITDA of 2.5 to 3.0 times at 31 December 2019, on a covenant basis
  • Transaction is conditional upon approval by BBA’s shareholders and various other approvals (including the consent of certain group lenders or replacement of certain financial indebtedness, and consent to the release of applicable security by the group’s pension trustee)
  • Completion is expected in Q4 2019

Mark Johnstone, BBA Aviation CEO, commented: “We are delighted that we have reached an agreement to sell our Ontic business to CVC Fund Vll for $1,365 million, delivering compelling value for BBA shareholders. While maintaining a strong balance sheet, we also expect to return between $750 and $850 million to shareholders and will evaluate how best to structure this return after consultation with our shareholders.

“Ontic was acquired by BBA in February 2006 for $67 million and has grown successfully through the acquisition of licences, organic and inorganic growth, and a disciplined approach to investment. This success has been based on trusted partner relationships with key aviation original equipment manufacturers. It now supports more than 39,000 legacy aircraft, through its portfolio of over 165 licences for more than 7,000 parts and over 1,200 customers worldwide.

“I would like to take this opportunity to thank all of our Ontic employees for their contribution to BBA Aviation over the years, and wish them well in the next stage of their journey.

“The Ontic disposal will allow BBA to focus on its core Signature business, the leading global FBO operator and service provider for the B&GA market. BBA shareholders will continue to benefit from Signature’s ability to outperform the B&GA market through the cycle, as well as its ability to take advantage of its significant opportunities for future growth.

“We remain committed to delivering long-term sustainable value from Signature, a strongly free cash generative business, which after funding investment requirements, should underpin both progressive dividends and ongoing returns of capital to shareholders.

“The ERO disposal process is ongoing and we expect to update the market in due course. Disposal proceeds would provide an opportunity to further enhance our proposed return of capital.”

James Mahoney, Senior Managing Director, CVC Capital Partners commented: “Ontic is a growing, highly resilient business and a leading player in what we believe to be a very attractive market. We see multiple opportunities to develop the business further and look forward to working closely with Ontic’s excellent management team to take the company to the next level.”


Categories: News


KPN Ventures provides growth capital to smart home alarm developer Minut

Kpn Ventures

Rotterdam, July 1, 2019 – KPN Ventures, the venture capital investment arm of KPN, announced today it has participated in the $8M Series A financing round in Minut, a Swedish tech startup that makes the Point smart home alarm. The round was led by KPN Ventures, with participation from previous backers Karma Ventures, SOSV and Nordic Makers, joined by strategic partner Centrica, bringing the total amount of funding over $10 million.

Minut has created the first complete smart alarm to keep your home safe and sound through a single device. The company has already sold devices in more than 60 countries with a growing team and new office based in London. The new capital will be used to accelerate growth across markets and to strengthen the product portfolio.

Minut has made protecting homes more accessible than ever before. Installation takes seconds with no drilling or cables to run and the app is easy to use for the whole family. The Minut smart home alarm analyses the environment and any motion or sound will be identified and alerts houseowners to threats through instant notifications. Through the use of machine-learning the sound recognition is continuously improved by the Minut community, making the system even better over time.

Nils Mattisson, CEO/co-founder of Minute: “Feeling safe shouldn’t be a luxury, or come at the cost of privacy. Until recently the most affordable solution for home security and monitoring has been Wi-Fi connected cameras, but people don’t want or trust them in their homes. Our aim is to make home security and monitoring accessible to everyone and we are excited to have KPN Ventures on board in this journey.”

Herman Kienhuis, Director of KPN Ventures said: “With their innovative ‘Point’ device, The Minut team has executed on the vision to make home security smart, simple and accessible for everybody. KPN powers the connected home and we see great opportunities to partner with Minut to help people protect their homes.”

Ardian signs an agreement with 3i Infrastructure for the sale of its stake in Ionisos


Paris, July 26th 2019 – Ardian, the independent private investment company, announces that it has signed an agreement to sell its stake in Ionisos, a leading international provider of cold sterilisation services to the medical, pharmaceutical and cosmetics industries with 3i Infrastructure PLC (“3i Infrastructure”).
Established in 1993 in Civrieux, France, Ionisos is the third largest cold sterilization provider globally and operates a network of 11 plants in Europe with market leading positions on the French and Spanish markets. It has over 200 employees and a highly diversified and loyal client base of more than 1,000 clients. Ionisos delivers a mission-critical service for the medical and pharmaceutical industries.
The need for pharmaceutical products and medical instruments and the associated sterilization services is driven by attractive market fundamentals and non-cyclical market drivers, including an ageing population in Western Europe, a growing demand for medical services increasingly requiring disposal medical supplies, as well as strong regulation on sterilization of medical and pharmaceutical products.
Since Ardian Expansion acquired a stake in July 2016, the company’s turnover has almost doubled. Ionisos has experienced strong organic growth and has implemented a dynamic external growth strategy over the past three years, through five acquisitions in five European countries (Germany, Spain, Estonia, France and Italy).François Jerphagnon, Member of the Board of Ardian France and Head of Ardian Expansion, commented: “We are delighted to have supported Ionisos’ management in its growth strategy and its international expansion. In line with its expertise, Ardian Expansion has transformed a top tier French player into a European leader through an active acquisition strategy. We would like to thank the management team and all the employees for the extraordinary work achieved.”Marie Arnaud-Battandier, Managing Director in the Ardian Expansion team, added: “We are very happy to have participated in Ionisos’ development. We have contributed to strengthening the management team and the group’s international expansion. We are confident that the company now has everything to succeed in its new development phase.“

Christoph Herkens, chairman of Ionisos, concluded: “We are delighted to have partnered with Ardian over the past few years. Without this active support, the development we have seen would not have been possible at this speed and with this coherence. We would like to thank Ardian for the trust they have placed in the management, the great openness during this partnership. The Ionisos teams are well prepared and highly motivated to enter a new phase of growth with 3i Infrastructure and we look forward to this future partnership.”


Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.


Ionisos is a French company founded in 1993, which manages eleven plants in France, Spain, Germany, Estonia and now Italy. Ionisos is a specialist in cold sterilization using ionization and ethylene oxide for the medical sector, pharmaceutical products, cosmetics and food packaging. The company is also active in the cross-linking of various products used in industry, particularly the construction industry.


Ardian Expansion: François Jerphagnon, Marie Arnaud-Battandier, Maxime Séquier, Thomas Grétéré
M&A Advisors: Natixis Partners (François Rivalland, Joseph El Khoury)
Legal advisors: Weil Gotshal & Manges (Frédéric Cazals, Alexandra Stoicescu)


Christoph Herkens, Aurélien Guilloux
Legal advisors: Delaby & Dorison (Emmanuel Delaby)


Viktor Tsvetanov

Categories: News


Naxicap Partners and Ardian in exlusive negotiations to acquire a stake in the Emera Group alongside its founder Claude Cheton


Emera Group, a leading provider of residential retirement homes in France, is reorganizing its capital structure involving Naxicap Partners, Ardian Co-Investment and its founders, Claude Cheton and Christophe Bergue.

Paris, July 26th, 2019 – Naxicap Partners, and Ardian, a world-leading private investment house, have entered into exclusive negotiations to acquire a significant stake in Emera Group, a leading provider of residential retirement homes in France, to help accelerate the Group’s international expansion.

Founded in 1987, Emera has built a network of 68 residential retirement homes with more than 6,000 beds across Europe. The Group is recognized as a leading provider of residential care home services, achieving a high satisfaction among its residents and their families. Emera is also the first company to have launched independent retirement homes as part of its establishments. In 2018, Emera’s turnover exceeded 230 million euros, 20% of which was generated outside of France – in Belgium, Luxembourg, Switzerland, Italy and Spain.

Naxicap Partners and Ardian were attracted by Emera’s unique strategic assets: a high-quality network of establishments with solid operational and financial performance, a highly experienced management team and a significant potential for international expansion. The Group intends to pursue the existing strategy, set out by Claude Cheton and his team, as it accelerates its international expansion while ensuring that outstanding quality of service remains at the heart of the company.

Claude Cheton, President and Founder of Emera Group, said: “I am very excited to welcome Naxicap Partners and Ardian, two experienced investors, to Emera Group. They share our vision and the strategy pursued by the Group since its creation. Naxicap Partners and Ardian will be able to share their experience, supporting The Group in the next stage of its development and help accelerate its international expansion. This is a new chapter for Emera and I am convinced that we will achieve our growth ambitions, as we have done in the past.”

Eric Baugas, Chief Executive Officer of the Emera Group, added: “This transaction marks the opening of a new chapter for Emera, as Naxicap Partners and Ardian support our ambition to expand in France and internationally. This partnership will enable us to play a leading role in the consolidation of the European residential retirement homes market.”

Eric Aveillan, Chairman of the Executive Board of Naxicap Partners, said: “Naxicap Partners is pleased to announce the acquisition of a significant stake in Emera Group, in consortium with Ardian and alongside Claude Cheton. The Group’s expertise, performance and the quality of its management team make it a unique investment opportunity in the sector. Naxicap Partners wishes to be active alongside the Group to help it accelerate its growth both organically and by seizing external opportunities”.

Antoine Lencou-Barème, Managing Director of Ardian Co-Investment, said: “We are extremely pleased and proud to invest in Emera Group alongside Naxicap Partners and Claude Cheton. The Group’s internationalization strategy and high-quality hotel and care services make it unique in the retirement residential care market. We have been particularly impressed by its growth over the past ten years and the quality of its team, and we look forward to supporting Emera on the next phase of its growth journey.”


Emera: Claude Cheton, Eric Baugas, Sophie Cheton, Baptiste Bazire
Naxicap Partners: Eric Aveillan, Laurent Sallé, Aurélien Dorkel, Cyrille Seydoux, Nicolas Sebille, Clémence Rousselet
Ardian: Alexandre Motte, Antoine Lencou-Barème, Stéphane Guichard, Jean-Clément Pierre
Purchasers advisors :
M&A : Lazard Frères (Charles Andrez, Guillaume de Fréminet, Raoul Mansour, Pierre-Hadrien Francey) ; Will Consulting (Jacques Ittah)
Financing : Lazard Frères (Emmanuel Plantin, Xavier Gautrin)
Corporate lawyer : Edge (Matthieu Lochardet, Stéphanie Dourdin)
Financing lawyer : Mayer Brown (Patrick Teboul)
Financial due diligence : KPMG (Mathieu Wallich-Petit, Mohamed Macaigne, Stéphane Kuster)
Real estate due diligence : KPMG (Tanneguy de Guerpel, Louis Pelletier) ; Cushman & Wakefield
IT due diligence: KPMG (Laurent Gobbi, Paul Pillet)
Legal, social, fiscal due diligence : Fidal (Anne Fréchette-Kerbat, Mikael Maheust, Régis Hallard, Rodolphe Meneux), Depardieu (Paul Talbourdet)
Strategic Due diligence : BCG (Benjamin Entraygues, Quentin Decouvelaere, Mathilde Marret)
Insurance due diligence: Marsh (Charles Amblard, Jean-Marie Dargaignaratz)
Management advisors :
Financial counsel : Oloryn Partners (Eric Lesieur)
Lawyer : SVZ (Franck Sekri)
Seller’s advisors :
M&A : Transactions & Cie (François Paillier, Sébastien Chabre)
Corporate lawyers : Frieh Associés (Michel Frieh)
Financial due diligence : KPMG (Hervé Richard)


As one of the top private equity firms in France, Naxicap Partners has €3.1 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.


Ardian is a world-leading private investment house with assets of US$96bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 610 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

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