Convocation for the extraordinary general meeting of Gimv on July 31, 2024

GIMV

Topic: Shareholders meeting

Today Gimv published the convocation for the extraordinary general meeting to be held on July 31, 2024 at 10:30 a.m. at Gimv’s registered office.

At the extraordinary general meeting (EGM) of June 26, 2024, the required attendance quorum of 50% of the capital was not reached. Gimv therefore published today the notice convening a second EGM to be held on July 31, 2024 at Gimv’s registered office. This EGM will be able to validly deliberate and decide regardless of the number of shares present or represented.

The agenda of this EGM concerns the amendment of the articles of association in function of the change in reference shareholding and subsequent update regarding governance, more specifically regarding the composition of the board of directors (1/3 of the total number of directors nominated by WorxInvest and at least a majority of independent directors) and advisory committees (minimum two members in each committee nominated by WorxInvest and in each case a majority of independent directors).

All information relating to this EGM can be consulted on the Gimv website:

https://www.gimv.com/en/investors/shareholder-meetings

 

Read the full document

 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

Categories: News

Ratos Company HENT wins billion-krone contract for two stations on the new Fornebubanen metro line in Oslo

Ratos

The construction company HENT and Fornebubanen have signed an agreement for the construction of the two stations Fornebuporten and Flytårnet on the new Fornebubanen metro line in Oslo, Norway. The contract is valued at NOK 1.67 billion.

The contract covers the construction of two metro stations and consists of concrete and platform works, access buildings and technical installations such as escalators, lifts, and technical rooms. Certain outdoor work and landscape architecture are also included in the contract.

“HENT has added another exciting and prestigious contract to its already impressive order book. The company is a community builder in its truest sense. Thanks to our unique experience built up over many years, we can contribute to the residents of Oslo being able to travel climate smart in the future,” says Christian Johansson Gebauer, Chairman of the Board of HENT and President, Business Area Construction & Services, Ratos.

“This agreement is an important milestone for HENT. We have been working on the project for a long time and have several good experiences from similar projects in the interface between infrastructure and construction. The project involves several challenges in terms of planning and operational implementation in combination with complex building structures, high quality requirements and ambitious environmental requirements. We thank Fornebubanen for their trust, and look forward to a good collaboration in the coming years,” says Jan Jahren, CEO, HENT.

HENT delivered the best offer based on price, environment and quality. The work will start in September this year and is expected to be completed in 2027.

About HENT
HENT is a leading construction company that mainly works with new construction of public and commercial real estate. HENT focuses on project development, project management and purchasing. Its projects are carried out with their own project administration and in collaboration with a knowledgeable network of quality-assured subcontractors. They conduct projects throughout Norway and in selected segments in Sweden and Denmark.

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Ratos Company Semcon’s climate target approved by the Science Based Target initiative

Ratos

Semcon’s climate target has now been validated and approved by the Science Based Targets initiative (SBTi).

“We are proud that Semcon has now had its climate goal approved by SBTi. It shows that Semcon’s own climate work is scientifically based, and it is another important piece of the puzzle in Ratos’s group-wide sustainability work. It is a result of purposeful work at Semcon and a conviction that everyone needs to contribute to the journey towards net-zero” says Josefine Uppling, Vice President Communication & Sustainability, Ratos.

Semcon’s near-term science-based target, which has now been approved by the SBTi, is the following:
Semcon commits to reduce absolute scope 1, 2, and 3 GHG emissions 50% by 2030 from a 2019 base year. (The target boundary includes biogenic land-related emissions and removals from bioenergy feedstocks.)

“Semcon has a strong combination of engineering, digital and sustainability expertise, and we support our customers in the development of green technologies, the transition to net-zero and circular value chains, and much more. While our largest possibility to contribute to the shift to a net-zero society is through our customer projects, we ourselves must do what is required of all companies and organisations right now. The approval of our climate target by the SBTi validates that our commitment is in line with the 1.5°C ambition,” says Markus Granlund, CEO of Semcon.

In June 2021, Semcon committed to setting climate targets in line with the 1.5 °C ambition with the SBTi. Due to Ratos’s acquisition of Semcon in 2022, Semcon’s proposal for near-term target was then submitted in December 2022. The target was resubmitted in November 2023 as the Group structure changed following the divestment of Semcon’s Product Information business area (today independent company Aleido).

Since 2021, Semcon’s overall commitment is to halve emissions by 2030 and be net-zero by 2040, with 2019 as the base year. It’s largest sources of emissions are linked to employee commuting, business travel and purchased goods and services.

About Semcon
Semcon is an international technology partner for companies and organisations in transformation. The company combines engineering expertise, digital services and sustainability know-how in a unique offering for product, production and service development. Always based on human needs and behaviour. Their experts and cross-functional teams make their customers more competitive and improve the user experience and sustainability of their solutions. Because a sustainable future requires innovative thinking and new perspectives. Semcon has approximately 1,400 employees in more than 20 offices in Sweden, Norway and Brazil. Read more at www.semcon.com.

About the Science Based Target initiative
The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets. To read more, visit www.sciencebasedtargets.org.

For more information, please contact:
Josefine Uppling, VP Communication & Sustainability, Ratos, +46 76114 54 21
Markus Granlund, President and CEO, Semcon, +46 31 721 03 06


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IK Partners enters exclusive negotiations to sell Mademoiselle Desserts to the Emmi Group

IK Partners

IK Partners (“IK”) is pleased to announce that the IK VIII Fund has entered into exclusivity to sell its stake in Mademoiselle Desserts (“the Company”), a leading European manufacturer of frozen pastries, to the Emmi Group (“Emmi”). Financial terms of the transaction are not disclosed.

Established in 1984 and headquartered in Montigny-le-Bretonneux in France, Mademoiselle Desserts has rapidly grown to become a leading European manufacturer of premium frozen pastries, including mini beignets, mini muffins, choux-based pastries, tarts, flans and pastry bases.

From its 12 production facilities in France, Benelux and the UK, Mademoiselle Desserts serves over 900 customers in more than 45 countries globally. The Company employs approximately 2,000 people who collaborate closely with its customers to develop bespoke desserts meeting the highest food standards.

In partnership with IK since 2018, Mademoiselle Desserts has achieved several strategic objectives and successfully executed the acquisitions of: Pâtisserie Michel Kremer in 2018; Les Délices Des 7 Vallées in 2019; Planète Gourmet in 2021; and Galana in 2023. These acquisitions have enabled the Company to expand internationally, particularly in the US and Europe, while enhancing its product portfolio towards mini products.

IK also supported the Company with an operational excellence programme centred around purchasing, site specialisation and logistics. Investments in production lines were also made to further expand the business’s capacity. These initiatives, coupled with the expertise of the management team, have resulted in substantial growth and expansion for the group.

Didier Boudy, CEO of Mademoiselle Desserts, commented: “We would like to thank IK for all their support in the past six years. This period has seen us navigate several significant global crises, but we have managed to emerge as a stronger business through the dedication of our own employees and the expertise and financial backing of IK. We are very excited about the next chapter which will see us working closely with Emmi.”

Rémi Buttiaux, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since investing in Mademoiselle Desserts in 2018, we have been extremely impressed with the professionalism and expertise of the entire team. Together, we have implemented organic growth initiatives and executed several bolt-on acquisitions, solidifying the Company’s position as one of Europe’s leading manufacturers of frozen pastries and desserts. We wish Didier and his team continued success for the next stage of their already impressive growth story.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

Mademoiselle Desserts

Mademoiselle Desserts is a leading frozen bakery player in Europe. Founded in 1984, the Group has grown through an active build-up strategy in France, the UK and Netherlands. It operates 12 production sites and employs approximately 2,000 people. For more information, visit http://www.mademoiselle-desserts.com

IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €16.5 billion of capital and invested in over 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit ikpartners.com

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BSI Software partners with new investor Bregal Unternehmerkapital, to continue its customer-oriented growth strategy in Europe

Bregal unternehmerkapital
Funds advised by Bregal Unternehmerkapital partner with leading provider of innovative CRM and CX software in its focus industries. The transaction marks a full exit of Capvis Equity V LP. This new partnership is built to support the BSI team in the continuation of its customer-orientated growth strategy, expansion in Europe and the continuous expansion of the software platform. The existing team of founders, management and employees will continue to have a significant stake in BSI.
Baden, 04.07.2024

Funds advised by Bregal Unternehmerkapital (“BU”) acquire a majority stake in the Baden-based company, BSI Software AG (“BSI”), a leading provider of software solutions for customer relationship management (“CRM”) and customer experience (“CX”) in its focus industries.

As part of BU’s investment, Capvis Equity V LP, the fund advised by the Swiss investment company Capvis AG (“Capvis”), sells its shares after four years of successful partnership with BSI. The BSI management team remains invested and will continue its successful work together with BU.

Holistic software platform for CRM & CX
For more than 25 years, BSI has been providing innovative software solutions for companies that strive to lead the way in digitalisation and customer centricity. More than 500 employees work “with heart and soul” for their customers and the “BSI Customer Suite”, which now comprises seven integrated products. The modern cloud solution is primarily used by sophisticated customers from the financial services, insurance, energy & utility, and retail sectors to digitise relationships with millions of end customers in a customer-oriented, efficient and intelligent way. The BSI Customer Suite comes with an Industry Cloud that integrates in-depth industry knowledge with specific processes and regulations into the software. A Existing IT systems are always fully integrated via various standard connectors to enable a high degree of automation and a consistent data flow. The software and data are stored in Swiss or German data centres.

Markus Brunold, CEO of BSI comments: ”BSI connects people and software. The BSI Customer Suite combines customer focus and industry expertise based on a sophisticated no-code/low-code platform. With this recipe for success, we are continuing our growth strategy in Europe to inspire more customers.”

Successful partnership with Capvis in recent years 
When Capvis partnered with BSI in 2020, the aim was to continue BSI’s success story and at the same time provide further impulses for growth. Over the past four years, new software products have been developed, state-of-the-art cloud architectures rolled out, and the industry modules expanded. BSI has also been able to acquire three companies and expand the functionality of the Customer Suite with Snapview (GDPR-compliant video consulting), inSign (electronic signatures of the highest security level) and Riskine (software solution for advisory processes at banks and insurance companies).

André Perwas, Partner at Capvis, adds, “We were delighted when the founders and management chose Capvis in 2020. We have achieved a great deal in this partnership and are convinced of BSI’s success in the next chapter of its growth.”

Partnership with BU continues to focus on customer-centred growth and supports BSI’s expansion in Europe
With BU, BSI has gained a partner with a long track record of experience in the software sector. BU is the largest mid-cap investor headquartered in the DACH region and has been active in the investment area since 2015. BU has offices in Zug, Munich and Milan.

”Of course, our customers and our products will remain the focus of our further growth strategy,” explains Markus Brunold, CEO of BSI, adding, “with BU, we can simultaneously drive forward internationalisation and expand in our focus industries within Europe”.

Chris Rusche, co-founder and board member of BSI, adds, “The growing size allows us to continue to invest in our employees and products. All our customers benefit from BSI’s success with a strong, comprehensive, European software platform for CRM and CX”.

Philipp Struth, Partner at BU, commented, “BSI convinced us not only with its innovative product portfolio but, above all, with its unique corporate culture, which has turned a large part of its workforce into real co-entrepreneurs. At BU, we feel honoured to be able to help shape and support BSI’s future growth.”

The parties have agreed not to disclose the financial terms of the transaction. The completion of the transaction is still subject to the approval of the relevant authorities.

About BSI
With its Customer Suite, the Swiss software company BSI offers a holistic, AI-supported platform for the digitalisation of customer relationships. BSI provides everything that an excellent customer experience needs for banking, insurance, retail and energy & utilities. In addition to its many years of industry expertise, this also includes BSI’s CRM system with a generative 360° customer view and a BSI Companion. Around 230 corporate customers use BSI’s software to reach their more than 150 million end customers throughout Europe. Since its foundation in Switzerland in 1996, the company has established itself as the market leader in its focus industries in the DACH region. Its customers include renowned companies such as ADAC, the Raiffeisen Banking Group, Signal Iduna, PostFinance and Merkur Software and people working together – that’s what BSI stands for. www.bsi-software.com  

About Capvis
Capvis AG, Baar, Switzerland, is the exclusive adviser of the Capvis funds that primarily acquire majority stakes in leading medium-sized technological firms. Its activity is founded on its longstanding experience in creating local and global market leaders in the fields of healthcare, industrial technology, and advanced services & software from family or entrepreneurial owned companies. Close cooperation with strong management teams ensures that the potential of companies is developed to the full while creating long-term values. Capvis has a track record of more than 30 years in private equity and invested more than EUR 4 billion in 63 companies. The remarkable number of 10 IPOs documents the quality of the investments managed and developed by Capvis. www.capvis.com

About Bregal Unternehmerkapital
Bregal Unternehmerkapital (“BU”) is a leading investment firm with offices in Zug, Munich, and Milan. With €7.0bn in capital raised to date, BU is the largest mid-cap investor headquartered in the DACH region. The funds advised by BU invest in mid-sized companies based in Germany, Switzerland, Italy, and Austria. With the mission to be the partner of choice for entrepreneurs and family-owned businesses, BU seeks to partner with market leaders and “hidden champions” with strong management teams and outbreak potential. Since its founding in 2015, the funds advised by BU have invested over €3.0 billion in more than 100 companies with more than 27,000 employees. Thereby, more than 7,700 jobs have been created. BU supports entrepreneurs and families as a strategic partner to develop, internationalize, and digitize their businesses, while helping them generate sustainable value on a responsible basis with the next generation in mind. www.bregal.ch

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Press contact

Ira Wülfing / Florian Bergmann
IWK Communication Partner
bregal@iwk-cp.com
+49 89 2000 30 30

Sandra Schäfer
Head of Marketing & Communications
sandra.schaefer@bregal.de
+49 89 435 715 007


Categories: News

Laure Delabeye appointed Director of Human Resources and Services at Wendel

Wendel

Wendel announces the appointment of Laure Delabeye as Director of Human Resources and Services for the
Wendel Group. In this role, she will be in charge of Human Resources, General Resources and IT services.

Biography of Laure Delabeye
After graduating from EFAP (École des nouveaux métiers de la communication) and IGS
(Institut de Gestion Sociale), Laure Delabeye, 54 years old, worked over 25 years as
Human Resources Director in French and international environments, mainly in the
Finance and Insurance sectors.

Before joining Wendel, Laure spent 14 years as Human Resources Manager in AXA
Group operating entities, supporting their transformation. Laure then joined the American
bank JP Morgan as HR Director for France, before extending her responsibilities to Spain
and Portugal. For 7 years, she acquired expertise in leading teams in multicultural and sensitive contexts, and
dealt in particular with the impacts of Brexit from an HR point of view on a European level. From 2019 to 2021,
Laure was Global Head of Human Resources for Natixis Investment Banking.

In 2021, Laure made a turning point in her career by becoming a certified coach (HEC Global International
Executive coaching, ICF accredited). She set up Oyat Coachsulting to support senior executives facing new
challenges.

Categories: People

Gimv announces strategic investment in Curana, leading bicycle components manufacturer

GIMV

Topic: Investment

Gimv is pleased to announce its strategic investment in Curana, a leading developer and manufacturer of high-end bicycle components, specialising in fenders, chain guards and dress guards. Based in Ardooie, Belgium, Curana is renowned for its design and innovation capabilities, providing custom-built solutions for top-tier bicycle manufacturers.

Gimv’s investment in Curana underscores its commitment to the sector of sustainable mobility and lifestyle consumer products and its confidence in Curana’s potential for continued success.

In partnership with Gimv, Curana intends to professionalise its organisation and accelerate its international growth strategy, building upon its reputation as the go-to partner for top-tier bicycle manufacturers. This investment comes at a pivotal moment for Curana, following the untimely passing of its owner, Dirk Vens, during the investment process. Gimv is committed to honouring Dirk’s legacy by continuing to build on the robust foundation he established. Gimv is investing alongside Jean-Charles Malherbe, the newly appointed buy-in CEO, and management to drive this next phase of growth for Curana.

Jean-Charles Malherbe, CEO Curana, states: “Curana has always been at the forefront of design and innovation in the bicycle components industry. Our small but dedicated team is passionate about delivering tailor-made solutions that meet the unique needs of our customers. I am honoured to lead Curana into its next chapter, building on Dirk Vens’ remarkable legacy. Together with Gimv, we will continue to push the boundaries of innovation and maintain the high standards of quality and customer satisfaction for which Curana is known.”

David De Peuter, Partner Gimv Consumer, adds: “Curana is a perfect fit for Gimv’s consumer investment strategy, particularly given its strong presence in the bicycle and e-bike sectors. We are confident in the mid- and long-term prospects for the bicycle industry driven by robust and favourable fundamental trends. We see tremendous potential in Curana’s innovative approach and high-quality products. Our goal is to guide Curana in its next growth phase, ensuring that the company continues to deliver exceptional value to its customers and partners.

Financial details of the transaction will not be disclosed.

 

Read the full document

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AnaCap in exclusivity talks to acquire Cleva, a leading insurance software solutions provider from Inetum

Anacap

AnaCap, a market-leading private equity investor specialised in partnering with founders and entrepreneurial management teams across services, technology and software within the European financial ecosystem, today announces that it has entered into exclusive negotiations to acquire insurance software provider Cleva from Inetum Group.

This latest development will represent AnaCap’s second platform investment in 2024 following the acquisition of a majority stake in Yard Reaas, a leading investment services and property management platform in April 2024.

Cleva is a leading provider of core life, health and non-life insurance software solutions. The company is headquartered in Paris, operating predominantly in France and Portugal and serving more than 60 insurance carriers and brokers. Cleva employs approximately 550 people with offices in Paris, Lyon, Porto and Lisbon. Prior to AnaCap’s exclusive negotiations, the business was part of Inetum Group, an information technology service provider that was acquired by Bain Capital in 2022.

Cleva is led by CEO Rodolphe Peim, alongside a very experienced management team based in France and Portugal. Working collaboratively, they will continue to drive the growth and development of the company under AnaCap’s ownership.

Cleva is well positioned to benefit from the continued outsourcing trends within the insurance industry which is experiencing accelerated penetration of third-party software solutions. With the support of AnaCap and its unique and unrivalled track record across both insurance and software, Cleva aims to accelerate its growth plans and expand its geographic footprint, especially in the Iberia region.

The transaction is subject to the information and consultation of Inetum Group’s employee representative bodies and to the usual closing conditions (including antitrust approval) and is expected to close second half of 2024. AnaCap received financial advice from Cambon Partners and legal advice from Proskauer Rose LLP.

Nassim Cherchali, Managing Partner at AnaCap, commented:
“We are delighted to announce our investment in Cleva. We look forward to partnering with the management team and supporting the company during its next stage of growth. We believe that Cleva is well positioned to grow its offering as a leading insurance software provider across Europe but also to expand its business reach into new geographies. We were particularly impressed by the efforts made by the management team over the last 3 years in developing a modern tech stack across both life and non-life solutions and we are very excited to begin the next phase of growth with Cleva.”

Steven Gringoire, Investment Director at AnaCap, added:
“We are very pleased to announce our latest investment in France and within the insurance sector in which AnaCap demonstrates a truly unique track record across Europe over the past decade. AnaCap’s acquisition of Cleva is yet another example of how we partner with ambitious management teams to support and accelerate their growth ambitions. We look forward to working closely with all the team at Cleva and are very excited for them to join the AnaCap platform.”

Rodolphe Peim, CEO at Cleva, concluded:
“Over the past years, Cleva has been recognised for the quality of our solutions and its ability to carry out large-scale, transformative projects for our clients. This success represents a great source of pride for all Cleva employees. From our first discussions, AnaCap showed a total commitment to pursue and support our growth strategy and thus demonstrated a true alignment with our fundamentals. I am delighted to partner with AnaCap, and we look forward to this new chapter together.”

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Aquiline Capital Acquires Majority Stake in Isio Group

Aquiline

LONDON, July 2, 2024 /PRNewswire/ — Aquiline Capital Partners LP (“Aquiline”), a private investment specialist in financial services and related technologies, has agreed to a majority investment in Isio Group Limited (“Isio”), one of the fastest growing pensions, reward and benefit and investment advisory businesses in the UK.

Since Isio was launched in 2020 it has undergone four successive years of double-digit organic growth and continues to gain market share. It has completed two acquisitions which expanded the company’s scale, geographical footprint, and range of services. Isio is now one of the UK’s largest retirement advisory businesses, with 1,200 employees and 10 offices across the UK.

Aquiline is well-established as an investor in the global retirement and wealth management services sectors. In the UK, Aquiline has invested in Smart Pension, the global pension software and solution provider, Wealth at Work, the provider of workplace financial education, guidance and advice and Landytech, the private markets investment management technology provider, among others. In addition, Aquiline has invested in Ascensus, the US’s largest provider of independent retirement and college savings services, Mirador, a tech-enabled middle office solution for private markets investors and SageView, a registered investment advisor serving retirement plan sponsors and individuals.

Aquiline’s investment will support Isio’s growth strategy of innovation by expanding its core services and growing adjacent practices, including rewards & benefits, investment advice and private capital. This will be achieved through a combination of targeted M&A to build additional service lines and advisory capabilities, and by attracting new talent to the business.

Aquiline is acquiring its majority shareholding from Exponent Private Equity LLP, who have backed Isio since its carve out. Isio’s management team will continue to retain a significant minority investment.

Igno van Waesberghe, Managing Partner at Aquiline, said: “We are delighted to be investing in Isio. It operates in sectors where we have extensive experience and deep networks.

“Isio is a business we have admired and got to know well, not simply as an investment, but first as our advisor and then our partner. We have been particularly impressed by the depth of their expertise in creating better outcomes for clients. It has delivered impressive organic growth and successful expansion through strategic M&A. We look forward to working with Isio’s management team to continue to develop their offering, diversify the business, and support them in further accelerating growth.”

Andrew Coles, Isio’s CEO, said: “This new investment from Aquiline will enable us to continue the journey of bringing high quality service and better outcomes to our clients. Key to this is having a culture that appeals to the best talent in the sector with long-term, high quality career opportunities. I am personally excited about the future and look forward to continuing to lead Isio in its next phase of evolution and growth.”

The transaction is subject to standard regulatory approvals.

Aquiline were advised by RBC Capital Markets and Herbert Smith Freehills LLP. Exponent and Isio were advised by Evercore (financial adviser) and Macfarlanes (legal adviser). Isio’s management were also advised by Liberty Corporate Finance and Proskauer.

Notes to Editors

About Aquiline Capital Partners LP

Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that is dedicated to financial services and related technologies. The Firm has approximately $10.4 billion in assets under management as of March 31, 2024.

For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com

About Isio

Isio is a leading independent UK provider of actuarial & consulting, pensions administration, investment advisory, employee reward & benefits and wealth advisory services. With a national team of 1,200 people across ten UK offices, Isio is committed to promoting financial wellbeing for all and works with companies, trustees and individuals to help them make informed decisions to protect their financial future.

For more information about Isio, please visit www.isio.com

About Exponent

Established in 2004 with a presence in London, Dublin and Amsterdam, Exponent is a leading private equity firm. The Firm invests in mid-market companies headquartered across Europe (UK, Ireland, Benelux and Nordics). Exponent has a distinctive approach, central to which is identifying the potential in corporate, family or founder owned businesses.

Exponent has raised more than €3 billion to date. A selection of Exponent’s current and past investments include market leading businesses such as Trainline, Moonpig, Ambassador Theatre Group, H&MV, Xeinadin and Quorn Foods.

Exponent has been investing in corporate carve out deals since its inception, with the acquisition of TES from News Corporation in 2005. In recent years the Firm has acquired Enva from DCC plc in 2017, SHL from Gartner, Inc. in 2018, Gü from Noble Foods in 2021 and most recently, in 2023, Natara from International Flavors and Fragrances, Inc.

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Ardian signs exclusive agreement to acquire a stake in DIAM, to support a new phase of growth alongside management

Ardian

Ardian, a world-leading private investment house, today announced that it has entered into exclusive negotiations to acquire a majority stake in DIAM, a world leader in the Visual Merchandising and Shopfitting markets for the beauty and luxury sectors, alongside the management team, which would reinvest significantly, and BNP Paribas Développement.

After an initial successful collaboration with Ardian between 2016 and 2018, DIAM has since continued to grow and strengthen its geographical positions, supported by EMZ Partners and a consortium of investors including BNP Développement, Idia and Socadif. The group now employs over 3,200 people spread over 30 sites in 20 countries, supporting its customers on a local-to-local basis in Europe, Asia, Africa and the Americas. In 2023, DIAM’s sales exceeded 400 million euros, mainly in the Visual Merchandising, Shopfitting, Niche Packaging and Point of Sales’ Services segments. The Group’s recent growth has been driven by strong geographic expansion, the extension of its product range, and the close proximity to customers that lies at the heart of DIAM’s culture. Today, the Group is recognized as the sector’s front runner in terms of CSR commitments, working to implement key actions for beauty and luxury brands.

DIAM acts for its customers across the entire value chain, with an offer combining consulting, creative and technical design, engineering, production, delivery, installation, after-sales services and recycling.

For more than 50 years, DIAM has forged close relationships with leading groups such as L’Oréal, LVMH, Estée Lauder, Richemont, Shiseido, Chanel, Hermès and independent brands. To best meet their expectations, the Group has always focused on a dual understanding of the Groups and the distribution systems. In addition, DIAM is resolutely focused on building significant innovation and CSR benefits, notably from the angles of carbon reduction and with a  strong focus on the development of people and teams.

Ardian, which has known the DIAM Group for many years, will support the management team’s strategy of:
•    Reinforce CSR benefits and social commitment
•    Develop Visual Merchandising, Shopfitting, Niche Packaging, Connectivity and In-Store Services, through a number of organic initiatives and possible acquisitions
•    Develop all DIAM Group brands: Diam, Prugent, Field Flex, Fine Packaging Manufacturers, MR, Retail3D, Conex, B2D.

The completion of the transaction remains subject to the usual conditions precedent and the approval of the relevant regulatory authorities.

“The entire management team is delighted to welcome Ardian Expansion back into our capital. After going through the complex period of Covid, clarifying our core businesses, growing our teams and ensuring 4 years of strong development. DIAM has become much more balanced, both in terms of geographical distribution and in terms of broadening the offer and number of brands served, and more solid both in financial and extra-financial terms. We therefore need a leading shareholder to support a new phase of ambitious growth. Ardian will be a major asset for DIAM and our customers in this new phase of the Group’s development.” Françoise Raoul-Duval, President and CEO, DIAM

“We are delighted to once again support DIAM in this new phase of its development. The Group’s strong performance over the last few years demonstrates its leadership and ability to adapt to demanding market trends. We are convinced that this strategic partnership will enable DIAM to pursue its growth trajectory and assert its global leadership.” Arnaud Dufer, Head of Expansion France, Ardian

“DIAM, led by a tremendous management team, will target external growth in services and packaging. The Group’s ESG approach will continue to be a very strong marker of its strategy.” Alexis Lavaillote, Managing Director Expansion, Ardian

“Diam has a management team with exceptional leadership, with an entrepreneurial spirit and a deeply human dimension. We are delighted to have been at their side over the last few years.” Ajit Jayaratnam & Ludovic Bart, EMZ Partners

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • DIAM GROUP: FRANÇOISE RAOUL-DUVAL, THIERRY CHETAILLE, LOUIS DUPÉRÉ, STÉPHANE MICHEL-GROSJEAN, MICHEL VAISSAIRE AND ALL THE TEAM MEMBERS
    • EXPANSION, ARDIAN: ARNAUD DUFER, ALEXIS LAVAILLOTE, STEVEN BARROIS, THOMAS GRÉTÉRÉ, VICTOR LESÉNÉCAL
    • BNP PARIBAS DÉVELOPPEMENT: DELPHINE LARRANDABURU, JEAN CHARLES MOULIN, JULIEN LEMAIRE
    • EMZ PARTNERS: THIERRY RAIFF, AJIT JAYARATNAM, LUDOVIC BART
    • IDIA: NICOLAS LAMBERT
    • SOCADIF: THIERRY ANTONINI
  • BUYER ADVISORS

    • M&A LAWYERS: PROSKAUER (MATTHIEU LAMPEL, BENJAMIN BENZAKINE, VANESSA HAMIANE)
    • FINANCING LAWYERS: PROSKAUER (MAUD MANON, PIERRE TARDIVO, ANTOINE COTTIN)
    • ANTITRUST LAWYERS: JOUVENSAL (KARIN-AMÉLIE JOUVENSAL) AND MARCK (GEORG SCHMITTMANN)
    • M&A LAWYERS – SELLERS: DE PARDIEU BROCAS MAFFEI (JEAN-FRANÇOIS POURDIEU, HUGUES DE FOUCHIER)
    • STRATEGIC DUE DILIGENCE: KEARNEY (JÉRÔME SOUIED, PIERRE-ALEXANDRE KOCH, HADI BENKIRANE, CHARLOTTE ROYER, ARTHUR LAVEST, VERA GAIDACH, DIMITRI IORDANOVITCH)
    • FINANCIAL DUE DILIGENCE: KPMG (OLIVIER BOUMENDIL, MEHDI CHAFAI EL ALAOUI, ANTOINE LAFFONT, MARIE HUEBER, SOUFIANE ROKNEDDINE)
    • LEGAL, TAX AND SOCIAL DUE DILIGENCE: KPMG AVOCATS (XAVIER HOUARD, FLORENCE OLIVIER, ALBANE EGLINGER, THOMAS CHARDENAL)
    • ESG DUE DILIGENCE: AXA CLIMATE (JULIEN FAMY, LAETITIA CANON)
    • INSURANCE DUE DILIGENCE: FINAXY (DÉBORAH HAUCHEMAILLE)
  • SELLERS, COMPANY AND MANAGEMENT ADVISORS

    • M&A ADVISORS: NATIXIS PARTNERS (BORIS PICCHIOTTINO, SIMON LE GUILLOU, MARTIN FREVAL, LÉA RAHAB, BAPTISTE ZURAWSKI)
    • FINANCING ADVISORS: NATIXIS PARTNERS (PHILIPPE CHARBONNIER, MARTIN CHALANSET)
    • MANAGEMENT ADVISORS: CALLISTO (VINCENT AYME, TANCREDE CAULLIEZ)
    • M&A LAWYERS: CLARIS AVOCAT (MANFRED NOÉ, PIERRE-ALEXIS MOREAU, MANON FORTIN, ANA MOLINA) / DE PARDIEU BROCAS MAFFEI (JEAN-FRANÇOIS POURDIEU)
    • STRATEGIC VENDOR DUE DILIGENCE: LEK (REMY OSSMANN, PHILIPPE GORGE)
    • FINANCIAL VENDOR DUE DILIGENCE: ALVAREZ & MARSAL (BENOIT BESTION, BAPTISTE RIDEAU, AYMERIC DE FOLLIN, GREGORY PEREIRA)
    • TAX VENDOR DUE DILIGENCE: ARSÈNE (ALEXANDRE ROCCHI)
    • ESG VENDOR DUE DILIGENCE: INDEFI (EMMANUEL PARMENTIER, CHARLOTTE SALMON, VICTOR LE MAROIS)
  • FINANCING

    • BANKING POOL: BNPP, SG, CIC, CADIF, LCL, EIFFEL, ALLIANZ, SPG, SCOR, ARTEMID, GROUPAMA, AMUNDI, CIC PD, BOI, LBP / LBP AM, ING, HSBC, SMBC
    • FINANCING LAWYERS : GIDE (ERIC CARTIER-MILLION, NATHALIE BENOIT)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,650 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ABOUT DIAM

Founded in 1973, the DIAM Group has become the global and local partner of beauty and luxury groups and brands, designing and supplying visual merchandising solutions, shopfitting, niche packaging, connectivity and in-store services. DIAM is present in 30 locations and 20 countries, and today employs more than 3,200 people, who are the core of our expertise, carrying a strong culture of entrepreneurship, agility and responsiveness.
In 2023, the group achieved sales of over €400 million, 70% of which in Merchandising, with significant growth (over 20%) on all continents and in all business lines (visual merchandising, shopfitting, packaging, services), thanks in particular to strong commitments and clear actions on CSR, in line with the Eco-design demands of its customers.
The DIAM Group is highly committed to environmental and social responsibility and has made its CSR approach a clear pillar of its strategy and employee retention assets.

ABOUT BNP PARIBAS DEVELOPPEMENT

BNP Paribas Développement, an autonomous subsidiary of the international banking group BNP Paribas, is a limited company which, for over 30 years, has invested its own funds directly as a minority shareholder to support the development of successful SMEs & SMIs and ensure their long-term survival by facilitating their transfer. In addition to providing companies with stable financial resources, BNP Paribas Développement’s mission is to support the management team over the long term as it implements its medium-term strategic projects. Our position as a minority shareholder ensures that our partners benefit from appropriate governance without interference in day-to-day management, while benefiting from the strength of a recognized group and the experience of a partner with a portfolio of over 500 diversified holdings.

ABOUT EMZ

EMZ is a pan-European, independent investment company specializing in medium-sized companies. Since 1999, EMZ has contributed to the financing of more than 160 buyouts and expansion transactions (external growth, industrial investments, etc.) for a total invested amount of over 5 billion euros. EMZ’s investment strategy focuses on companies run by experienced management teams who are willing to enter into a collaborative, horizontal partnership with their financial partner.

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