Monthly Archives: March 2020

Industrifonden welcomes ShardSecure to the portfolio

Industriefonden

Today we are excited to announce that Industrifonden participates in ShardSecure’s Over-subscribed Seed Round.

ShardSecure™, the data protection company whose Microshard™ technology helps organizations accelerate cloud adoption by mitigating cloud misconfiguration and data security risks, announced today that Industrifonden has participated in the company’s oversubscribed seed round, joining lead investor SineWave Ventures, Tom Noonan, 500 Startups and others in the investment round originally announced late last year. The Stockholm-based Industrifonden is one of the largest and oldest early-stage venture capital firms in Northern Europe, with US $700 M under management.

“ShardSecure is thrilled to welcome Industrifonden as a significant investor in our growth journey,” said CEO & Co-founder, Bob Lam. “Industrifonden has a long and successful track record of backing early-stage startups. We look forward to working with Hadar and his team as we bring our data protection technology to market this year.”

Industrifonden Investment Director, Hadar Cars, also shared his enthusiasm about the announcement, adding, “Industrifonden is pleased to be adding ShardSecure™ to our portfolio as we see them filling an urgent need in the cloud data protection market. The prevalence of security incidents caused by cloud misconfigurations, and the resulting financial and reputational damages, present a significant hurdle for organizations looking to migrate more of their workloads to the cloud. ShardSecure’s Microshard™ technology tackles the problem at the source by reducing the sensitivity of data, providing a critical security solution that will help organizations accelerate cloud adoption with reduced risk and compliance burden.”

The oversubscribed funding round positions ShardSecure well for growth. Funds will be used to build an experienced sales and marketing team to bring the Microshard data protection technology to market this year as well as to continue strengthening an already robust development team.

Learn more about ShardSecure at www.shardsecure.com.

 

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Gimv invests in AME, specialised producer of smart electronics for tomorrow’s products, located in Eindhoven Brainport

GIMV

02/03/2020 – 07:30 | Portfolio

Gimv acquires a majority share in Applied Micro Electronics (“AME”), a developer and manufacturer of innovative, high-quality and smart electronic modules for international OEM customers. With Gimv’s support, the current management team will continue to pursue its growth ambitions.

Since its foundation in 1996, AME (Eindhoven Brainport – NL, www.ame.nu) has continuously invested in R&D, and developed in-depth knowledge and expertise in three technology areas: power conversion, sensing & actuating and internet of things. Example applications include power conversion systems, motion controllers, safety systems and human machine interfaces for a variety of end-markets, including electric vehicles, home appliances and industrial automation. AME currently employs a staff of about 250 – including 80 engineers – and realizes a turnover of ca. EUR 40 million.

Both Gimv’s Smart Industries team and the current management team strongly believe in further growth potential of the business based on clear underlying market trends, such as further electrification of society, increasing automation and connectivity of devices. AME is well positioned to benefit from the market growth due to its vertically integrated business model, its in-depth expertise in specific technology areas and its strong track record of serving blue chip customers. Gimv will support management to realize their ambition to grow the business and further professionalize the organization.

Gerrit van der Beek, CEO of AME, says: “Gimv is the right partner for AME to make our growth ambitions come true. They fully underline and support our business strategy and philosophy. With Gimv we will be able to invest further in our technical capabilities and our industrial facilities. Expanding our activities globally to support our customers locally can now be put on our management agenda. I fully believe that the partnership with Gimv is a major step forward for AME and will enable us to enhance the support and service to our valued customers.”

Boris Wirtz, principal in the Gimv Smart Industries team, adds: “AME is right at the heart of our Smart Industries investment focus, as it combines knowledge intensive engineering and software competences with highly automated manufacturing facilities to develop and produce innovative products. We are highly impressed by the outstanding capabilities of the company, as confirmed by longstanding partnerships with international OEMs who trust AME to supply crucial parts of their products. We look forward to partner with management and build on AME’s strong existing position to further grow the business.”

This new investment will become part of Gimv’s Smart Industries platform, focusing on companies supplying B2B products and services, based on value creation through innovation and intelligent technology.

The transaction is subject to customary closing conditions, including the approval of the competition authorities. No further financial details on the transaction are being published.

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Xavier Himmer joins CVC Credit Partners as Chief Operating Officer

Xavier joins in the newly created role and will be responsible for CVC Credit’s business infrastructure

CVC Credit Partners is pleased to announce that Xavier Himmer has today joined as Partner and Chief Operating Officer. Xavier will be responsible for oversight and strategic development of CVC Credit’s business infrastructure, including operations, finance, legal & compliance, technology and HR. He will be based in London and will be a member of CVC Credit’s Operating Board.

Xavier has over 20 years of leadership experience in the global asset management industry. He was formerly a Partner & COO at Cheyne Capital in London, where he spent eight years. Prior to this, Xavier has held multiple management roles within the asset management industry, including two years as COO at Stigma Partners in Switzerland and eight years as COO of Altedge Capital, a business he also co-founded. He began his career at Arthur Andersen & Co.

Hamish Buckland, Chairman of CVC Credit Partners, said: “I am very pleased to announce Xavier’s decision to join CVC Credit Partners. Over the last few years we’ve experienced a significant increase in the scale and complexity of the firm and this has highlighted the need for a more strategic approach to managing the risks that come with this growth and to exploiting the advantages that come with scale. Xavier’s skillset makes him the ideal candidate to take on the challenge of developing a world-class operational platform on which we can continue to build CVC Credit Partners into a market leader.”

Xavier Himmer added: “I have watched CVC Credit go from strength to strength over the last few years and have admired what has been achieved. This is an ambitious business with an impressive team and I look forward to contributing my experience to the next phase of development.”

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Ardian Real Estate sells Konrad office complex after comprehensive repositioning

Ardian

Frankfurt / Munich, March 2, 2020: Ardian, a world-leading private investment house, has signed an agreement to sell the KONRAD office complex to a 50-50 joint venture between Union Investment and Hansainvest. The transaction takes place approximately three years after the acquisition of the Wappenhalle office complex in Munich-Riem as the first real estate investment in the German-speaking market by the Ardian Real Estate team. During the investment phase, Ardian and its real estate team completed comprehensive upgrade measures. In this context, the real estate complex was repositioned and renamed KONRAD in September 2017. The modern high-grade office complex, which comprises about 34,000 sqm of office space, consists of the Wappenhalle (“Coat of Arms Hall”), a listed building originally built in 1939, and nine further buildings connected by glass structures and situated around a courtyard garden. The parties have agreed not to disclose any financial details relating to the transaction.

Since the acquisition by Ardian in 2017, the quality and attractiveness of the areas has been significantly increased – among other things through the renovation and redesign of the two entrance areas, modernization of the façade and interior areas, and an upgrade of the garden and courtyard. A sum in the tens of millions of euros was invested for the upgrade measures and the rebranding. An important milestone occurred in 2019 with the achievement of a 100 percent occupancy rate by 30 tenants under long-term lease agreements. Most recently, a modern dining area was created on the property in September 2019 and is operated by Leonardi. The Wappenhalle is still used under its existing name as a high-quality venue for galas, trade fairs and exhibitions as well as for conferences. For the repositioning of KONRAD, in February 2020 Ardian Real Estate received the German immobilienmanager award in the “Investment” category.

Bernd Haggenmüller, Senior Managing Director and responsible for the DACH region for Ardian Real Estate, said: “We have fully achieved our goals for KONRAD. The building complex has been successfully repositioned and modernized. It has been significantly upgraded through targeted investments and has attractive unique selling points with the Wappenhalle and the associated combination of tradition and modernity. After reaching full long-term occupancy in 2019, this demonstrates that the measures have been very well received by both existing and prospective tenants.”

ABOUT ARDIAN

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 680 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 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

COMPANIES AND PERSONS INVOLVED IN THE TRANSACTION

Ardian Team: Bernd Haggenmüller, Moritz Pohlmann, Nico Rheims, Benedict Rasche
Legal: Herbert Smith Freehills (Thomas Kessler)
Tax: Taxess (Boris Meissner)
Technical: REC Partners (Joachim Wahlich)

PRESS CONTACT

CHARLES BARKER CORPORATE COMMUNICATIONS
ardian@charlesbarker.de
TOBIAS EBERLE
Tel: +49 69 79409024
PETER STEINER
Tel: +49 69 79409027

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Francisco Partners to Acquire Pharmacy and Public Sector Software Firm Smith Technologies

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Franciso Partners

Francisco Partners, a leading technology-focused growth equity firm, has announced that it has signed a definitive agreement to acquire Smith Technologies, a wholly-owned subsidiary of J M Smith Corporation, one of the country’s oldest enterprises rooted in the community pharmacy industry. The terms of the transaction were not disclosed.

Smith Technologies, a leader in community pharmacy technology, long-term care technology, and public sector software, will remain headquartered in Spartanburg, South Carolina.

“The acquisition of Smith Technologies by Francisco Partners provides the investment capital that the company has needed for some time,” said Paula Harper Bethea, Executive Chairman of the Board for J M Smith Corporation. “The sale will benefit employees, shareholders and customers alike through this pivotal investment.”

“The legacy of Smith Technologies is one of market creation. They have led the way over many decades in the pharmacy and public sector. We are committed to continuing its exceptional service to existing customers and excited to invest in expanding both their market share and geographic footprint as an independent entity,” said Chris Adams of Francisco Partners.

J M Smith Corporation will remain one of the South Carolina upstate’s largest corporations and will continue to operate as the parent company for Smith Drug Company, RX Medic and SMS. Upon closing of the transaction, the J M Smith Corporation’s board will consider whether to use the sale proceeds for reinvestment in the company, reduction of indebtedness, share repurchases, shareholder dividends or a combination thereof.

About J M Smith

J M Smith Corporation was founded in 1925 as a single community pharmacy in Asheville, North Carolina. In the decades since, the company has grown to operate business units that supply healthcare and distribution services and technology to pharmacies, institutions, government agencies and businesses across the U.S.

About Francisco Partners

Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled businesses. Since its launch 20 years ago, Francisco Partners has raised over $14 billion in committed capital and invested in more than 275 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit: www.franciscopartners.com

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NPM CAPITAL acquires a majority stake in Greenspread and Solaris Industria

NPM Capital

Investment company NPM Capital acquires a majority stake in Greenspread and Solaris Industria. Both companies develop and operate sustainable energy projects, including solar PV systems. The acquisitions are part of the investment strategy employed by NPM Capital in this sector and follow the majority stake that the investment company acquired in Rooftop Energy in June 2019. Jeroen de Haas, former head of Eneco and member of the Supervisory Board and active adviser at Rooftop Energy, will take on the role of president of the new business combination.

“We are delighted that we have made our first, concrete step in line with our acquisition agenda which focuses on accelerating the energy transition in the Netherlands”, explains De Haas. “Greenspread and Solaris Industria both have an excellent track record and each contribute, in their own way, to the group which is gradually taking shape. The acquisitions also mean strong and ambitious energy professionals will be joining. In the coming period, we will maintain our focus on acquiring small and large companies to create rapid scale expansion in large solar power stations. Alongside the growth in solar energy, we are currently also working on several investment opportunities which target the expansion of the proposition for making our customers completely sustainable.

Leendert Florusse, CEO of Rooftop Energy, adds: “Both Greenspread and Solaris Industria offer an impressive portfolio of solar PV projects that have already been realised or which are still in the pipeline. Together, we can take an even better stand and create an important place for solar energy in the sustainable energy system of the future.”

About Greenspread
Greenspread develops and operates sustainable energy projects and is one of the most well-known sustainable energy advisers in the Netherlands. It takes on the entire process for all forms of sustainable energy (e.g. solar PV, renewable heat, charging points, storage and hydrogen), from technical feasibility, to design, financing, preparation, installation and management. In many cases, Greenspread also invests, with the customer, in the final energy solution. The company, which is headquartered in Woudenberg and began in 2010, has now realised hundreds of projects. When it comes to increasing the sustainability of existing property, Greenspread is the market leader in the public domain (municipalities, hospitals, water boards). Over the past ten years, almost 200 municipalities have used Greenspread’s services. At the start of 2020, Greenspread was generating 24 MW in solar PV installations and also had a pipeline of 140 MW in solar PV projects which increasingly involves businesses. Greenspread currently employs 15 employees. This number is expected to increase in the coming years. The directors of Greenspread, Jan Willem Zwang and Gerhard van de Lagemaat, will remain active in the group as shareholders. Ivo Priem, investor in Greenspread through his investment company Livermore TC, will sell his share.

Jan Willem Zwang, founder and general director of Greenspread: ”As a result of Gerhard’s involvement since the end of 2015 and the investments from Ivo in mid-2017, Greenspread has been able to realise enormous growth. The acquisition strategy applied by NPM Capital in our sector has given us the opportunity to accommodate the realisation and operation of our own solar PV projects within Rooftop Energy. As a result, we can work with Greenspread as an independent adviser to further focus on increasing sustainability among our customers. We are very excited about this acquisition and the active involvement of Jeroen de Haas. Greenspread will not only enable us to realise our own ambitions more quickly, but also help us really get things moving!”

About Solaris Industria
The Utrecht-based Solaris Industria operates large-scale solar PV installations, particularly on commercial roofs in the Netherlands. Via a business model that concentrates on partnerships, Solaris has currently developed around 30 MWp in projects, divided across more than 50 locations.

Co-founders Robin Koek and Jöbke Janssen shall continue as shareholders and remain active in the group. Solaris will work from its base in Utrecht to further strengthen its position as a reliable partner for financing solar PV projects.

Robin Koek: “We feel very positive about the fact that NPM Capital is part of family business SHV, which has a flexible and long investment horizon, and has a clear vision of the further expansion of sustainable energy in the Netherlands. We are sure that our partners, installers and customers will benefit from this move.”

Jöbke Janssen adds: “This takeover has come at a good moment for us. As a result of our rapid growth, we were at the point of investing in further professionalisation, including specific software systems. Within the group,  Rooftop Energy is its next phase, and has already raised the bar in terms of professionalism. We can neatly connect into this. It means we don’t need to reinvent the wheel and can focus on what we really love doing: realising sustainable projects for our customers.”

Read also NPM Capital acquires majority stake in Rooftop Energy

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