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Blackstone Charitable Foundation Commitment in Texas Reaches $10 Million for Entrepreneurial Skills and Career Exposure

Blackstone

Blackstone LaunchPad hubs at colleges and universities focus skill-building and internship opportunities for students

February 21, 2024, Houston – Blackstone today announced that the Blackstone Charitable Foundation has reached $10 million in funding in Texas through its signature program, LaunchPad. The program seeks to close the opportunity gap by equipping students with entrepreneurial skills and internship opportunities to help them build lasting careers.

LaunchPad has supported students at 12 schools across Texas, including Texas A&M University, University of Texas at Austin, UT Dallas, UT San Antonio, UT Rio Grande Valley, and UT El Paso. Prairie View A&M University (PVAMU) is the latest campus joining the program. With continued migration of Fortune 500 companies to Texas, initiatives like LaunchPad will continue to help prepare Texas students to compete and thrive in a dynamic job market.

LaunchPad and its partners seek to empower college students to secure sustainable, fulfilling careers and close the employment gap. Programming complements the academic curriculum with workshops, speaker sessions and networking opportunities. All participants gain experience at identifying opportunities, developing solutions, thinking critically and leading teams. In addition to campus-based programs, LaunchPad and its partners offer internship opportunities at Blackstone, the firm’s portfolio companies, partner organizations and select startups – meeting a continuous demand for high-quality talent pipelines.

The new LaunchPad center at PVAMU was unveiled on February 12 during an official ribbon cutting with Dr. Tomikia LeGrande, President of Prairie View A&M University, Dr. Michael McFrazier, Interim Provost and Senior Vice President for Academic Affairs, Maura Pally, Executive Director of the Blackstone Charitable Foundation, and Prairie View’s LaunchPad leadership.

“What the Blackstone Charitable Foundation is providing to our next generation of community and business leaders is truly remarkable,” said President LeGrande. “With the LaunchPad program at Prairie View A&M University, our talented students can develop an entrepreneurial mindset and access key resources that will improve their career outcomes.”

“Every student should have access to a place to cultivate ideas, develop skills and access job opportunities,” said Maura Pally. “Our goal is for all students who engage with Blackstone LaunchPad to be able to access quality job opportunities, expand their network and develop skills that will set them up for success in any career they pursue. We’re thrilled to have reached this $10 million commitment in Texas – programs like LaunchPad that train and develop all students will help keep Texas talent local and Texas companies strong.”

LaunchPad was formed with a focus on entrepreneurship and helping students become the job creators of tomorrow. Starting in 2021, the program’s new offerings aim to drive career skills and mobility for students. It provides tools for experiential learning where students can gain key skills that employers want to see.

About Blackstone LaunchPad
Blackstone LaunchPad works with colleges across the United States to help students launch successful careers through entrepreneurial skills-building programs and opportunities to intern at organizations in our network, including Blackstone, our portfolio companies and select startups. Since 2010, Blackstone LaunchPad has supported students on more than 75 college and university campuses, including Minority Serving Institutions and community colleges. In 2022, LaunchPad engaged more than 35,000 students.

About Prairie View A&M University
PRAIRIE VIEW A&M UNIVERSITY (PVAMU), founded in 1876, is the second oldest public institution of higher education in the state of Texas and the third largest Historically Black College/University in the nation. Designated as an “institution of the first class” in the Texas Constitution, enrollment exceeds 9,000 students and over 80,000 graduates. PVAMU offers academic programs through its ten colleges and schools, boasting degree options leading to bachelor’s to doctoral-level degrees. A Carnegie-classified high-research (R2) University and a member of The Texas A&M University System, PVAMU is dedicated to fulfilling its land-grant mission of achieving excellence in teaching, research and service. For more information, visit www.pvamu.edu.

Contact
Emilie Stanton
Emilie.Stanton@Blackstone.com
347-331-9196

Categories: News

Announcement of share buyback in the context of a share purchase plan for its personnel

GIMV

The Board of Directors of Gimv has decided, in application of Art. 7:215, §1, al. 3 of the Companies Code, to start a share buyback program of 30,000 shares in the framework of a share purchase plan for Gimv employees.

Gimv will start the buyback program on February 21st, 2024 until the targeted volume has been purchased with a final end date of March 15th, 2024.

The buyback program will be conducted in accordance with applicable regulations. For this purpose, Gimv will mandate an independent broker to execute the program through open market purchases on Euronext Brussels. The purchased shares will be held as treasury shares until they have been transferred to the personnel.

Gimv will inform the market on the progress of the program in line with the applicable regulations.

Today, Gimv holds 1,647 own shares.

Categories: News

GED executes its third divestment of its fund GED V Spain through the sale of Procubitos Europe

GED

Procubitos Europe is the largest manufacturer and marketer of premium ice for food consumption in Europe, with 4 factories in Spain, 1 in Germany, and another in Italy, as well as numerous distribution platforms throughout the Iberian Peninsula.

The Group emerges as a result of the integration of up to 10 different companies operating in the sector (buy and build strategy) implemented by GED since its first investment back in 2017 in the proyect. During GED’s investment period, the company work in the integration and profetionalization of teams, systems, branding positioning, international development, new producto launching, and many other.

Since GED’s first investment in 2017, the company has experienced substantial value enhancement demonstrated in remarkable growth metrics. Turnover has surged by over seven times. EBITDA has soared from €1 million to €8 million, underscoring robust financial performance and operational efficiency. Moreover, the infusion of GED’s expertise has catalyzed the creation of over 150 jobs, amplifying socio-economic impact.

Equally noteworthy is the expansion of international operations, with foreign business now constituting 45% of total revenue, compared to a 5% prior to GED’s involvement. This global reach spans key markets such as Germany, Italy, France, Belgium, Portugal, and the Nordic countries, signifying a strategic penetration into diverse regions.

 

At the forefront of product innovation and with a steadfast commitment to quality and food safety

Procubitos Europe, via its Ice Menu catalog, presents customers an extensive array of products, formats, and ice manufacturing processes that set it apart from competitors, catering to the demands of discerning consumers.

Utilizing cutting-edge technology, the company produces ice of unparalleled quality and durability. Moreover, it implements rigorous food safety protocols compliant with international ISO and IFS standards.

The sale garnered significant interest from top-tier parties, ultimately seeing Magnum Capital emerge as the preferred bidder and the ideal partner to drive Procubitos Europe’s growth in the forthcoming phase.

 

About GED (www.gedcapital.com)
GED is an independent asset management firm founded in 1996, specializing in the middle-market segment. It currently manages in excess of €1 billion across different Private Equity, Infrastructure, and Venture Capital vehicles. GED boasts a diverse investor base of over 50 domestic and international entities, predominantly comprised of pension funds, fund-of-funds, insurance companies, family offices, and financial institutions.

 

About Procubitos Europe (www.procubitoseurope.com)

Procubitos Europe, founded in Spain in 1989, has been satisfying the needs of the most demanding ice consumers for 30 years, and has grown based on a constant dedication to service and customer attention. With multiple plants distributed throughout Europe, its combined production capacity stands at approximately 800 tons per day.

Categories: News

Nordic Capital-backed Conscia acquires ITGL, bolstering digital transformation offerings and spearheading entry into the UK and Ireland

Nordic Capital

ITGL, a digital transformation provider and Cisco Gold Partner, has been acquired by Conscia, a European provider of mission-critical IT infrastructure within networking, cybersecurity, and cloud.

The move will see ITGL clients benefit from bolstered cybersecurity solutions and enhanced managed service offerings to support their increasingly complex network and cloud infrastructures. For Conscia, the announcement spearheads the company’s entry into the UK and Ireland.

Headquartered in Denmark, Conscia – also a Cisco Gold Partner – employs over 1,020 people across six countries serving more than 1,000 customers. These include five out of the six top Nordic banks and three out of every four hospitals in the Netherlands.

With sites in Portsmouth and Oxford, ITGL’s 70-strong team provides extensive expertise in collaboration, networking and cybersecurity across the UK and Ireland. The company’s strong presence in the public sector – combined with expertise in the finance, law and retail industries – complements Conscia’s focus on supporting clients with complex network, data center, cloud, IoT and mobility needs.

Neil Pemberton, CEO, ITGL says, “The shared culture of technical excellence and commitment to long-term client relationships between both organisations makes this relationship a natural fit.  By tapping into Conscia’s international network and by leveraging its size and market position, we can deliver extra value while continually expanding and developing the business. Conscia has a strong track record for incorporating new companies and we are excited about what this will mean for ITGL as well as new and existing clients.”

Operating as ‘ITGL – part of Conscia’, the ITGL collaboration marks Conscia’s 17th acquisition in seven geographic markets over 10 years.

Erik Bertman, CEO, Conscia, adds, “The UK has a strong and expansive technology ecosystem and is one of the largest markets in Europe. Through ITGL’s forward-thinking technical know-how and industry experience, we will be well-placed to contribute to the region’s continued IT infrastructure growth and digital transformation. This is a significant milestone for Conscia and we’re looking forward to the opportunities that lie ahead for all parties.”

Oliver Tuszik, President EMEA, Cisco adds, “Conscia and ITGL are already success stories in their own right. By uniting their strengths, these two Gold Partners are poised to deliver an unparalleled value proposition to Cisco customers. We eagerly anticipate the synergies and innovations that will emerge from this collaboration, propelling all involved toward even greater achievements.”

 

For further information, please contact:

Daniel Siberg. Group Chief Sales & Marketing Officer,
+46 734082778, dasi@conscia.com

About ITGL

ITGL designs and delivers digital solutions that drive operational efficiency and enhance the lives of individuals, creating better human experiences, a safer and fairer society, and a cleaner environment. ITGL is committed to help its clients achieve their goals and make a positive impact on the world. The company employs 70+ people across sites in Portsmouth and Oxford.

About Conscia

Conscia design, implement, and manage secure, mission-critical IT infrastructure solutions and cybersecurity services. We deliver solutions and 24-7 managed services to customers with complex network, data center, cloud, IoT, and mobility requirements. We offer first-class technical competencies and insight and support our customers’ business-critical technology systems across the entire lifecycle of their technological ecosystem, from design and implementation to operation and optimization. Founded in 2003, Conscia is owned by private equity investor Nordic Capital and is serving numerous large organizations in finance, healthcare, manufacturing, utilities, retail, and the public sector from offices in Denmark, Sweden, Norway, Germany, the Netherlands, and Slovenia. We are a network of knowledge and the very IT backbone of our customer’s success. Our long-term ambition is to be the preferred partner in the realms of network, cloud, and cybersecurity across Europe. Please find more information at: www.conscia.com

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KKR To Sell Majority Stake In Chord Music Partners To Universal Music Group And Dundee Partners Led Investor Consortium

KKR

Joins with Dundee Partners to form long-term strategic partnership for management and acquisition of world-class music IP

UMG to globally administer publishing and distribute recordings for Chord’s existing catalogs, with more than 60,000 music copyrights

KKR to sell its majority stake in Chord to current shareholder Dundee Partners and its investor consortium with a minority stake held by UMG

SANTA MONICA, Calif. and HILVERSUM, The Netherlands, Feb. 20, 2024 /PRNewswire/ — Universal Music Group (UMG), the world-leader in music-based entertainment, and Dundee Partners, the investment office of the Hendel family, today announced that UMG will acquire a 25.8% interest in Chord Music Partners (Chord) for US$240 million (approximately €223 million when translated into € at today’s current EUR/USD rate), in a deal that values Chord at US$1.85 billion.

Chord, which was formed in 2021 by KKR and Dundee Partners, is a pure-play catalog of premier music intellectual property (IP). Chord’s portfolio includes works from many of the world’s most iconic artists and songwriters, including The Weeknd, Ryan Tedder/OneRepublic, David Guetta, Lorde, Kid Cudi, Diplo, Jimmy Jam & Terry Lewis, Ellie Goulding, ZZ Top, John Legend, Twenty One Pilots and many more.

UMG and Dundee Partners will enter into a new long-term strategic partnership to actively manage Chord’s rights through UMG’s global network and to acquire additional catalogs via Chord in the future. Chord’s music publishing rights will be administered through Universal Music Publishing Group (UMPG) and recorded music through UMG’s Virgin Music Group (VMG).

Sir Lucian Grainge, Chairman and CEO of Universal Music Group said, “Finding partners who share our passion for identifying iconic songs and recordings that will stand the test of time and deliver long-term growth is essential, which is why we’re so pleased to be working with Stephen and Sam Hendel and Dundee Partners. With the leadership of Jody Gerson at UMPG, Nat Pastor and JT Myers at Virgin, and the support of our experienced creative executives around the world, no one can do more with music rights than our teams. We look forward to creating maximum commercial and creative value for the songwriters and artists in Chord and building for the future.”

Boyd Muir, Universal Music Group’s Executive Vice President, Chief Financial Officer and President of Operations said: “We’re excited to partner with the Hendel family in Chord for a number of reasons. First, KKR and Dundee have built a very high-quality catalog that will benefit from our first-rate management and global capabilities. Second, this new structure provides us with an efficient vehicle for future catalog acquisitions, without significant capital allocation through a combination of leverage and partner equity capital. And finally, it offers us the perfect partner to approach future growth opportunistically and flexibly, one who is equally bullish on the long-term prospects for music.”

Sam Hendel, Dundee Partners’ Managing Principal and Co-Founder of Chord, said: “We’re thrilled to be partnering with Universal Music Group and embarking on this next exciting chapter for Chord. By combining a best-in-class financial acquisition vehicle with the world’s leading music company, we are creating both a premier platform for music investment as well as a permanent home for premier artist’s legacies and their iconic cultural works. We’d like to thank the team at KKR for their partnership and creating a strong foundation for Chord and its future success.”

“We are grateful to have had the opportunity to collaborate with many leading artists and to create significant value for our investors by building Chord into a differentiated and scaled portfolio. We believe that Dundee and UMG will drive further value creation for artists and that they share our commitment to being respectful stewards of artists’ music,” said Jenny Box, Partner, KKR.

KKR will exit Chord upon completion of the transaction, with the Dundee consortium and UMG owning 74.2% and 25.8% respectively.

As a leader in music-based entertainment, UMG is positioned and resourced to manage and drive growth for Chord’s existing rights catalogs, while UMG and Dundee Partners are both aligned in their long-term vision for the acquisition, management and growth opportunities for significant, timeless music-rights catalogs.

UMG was advised by Goldman Sachs, Kirkland & Ellis LLP and Freshfields. DLA Piper and Axinn, Veltrop & Harkrider LLP served as legal advisors to Dundee. Fifth Third Bank, National Association served as financial advisor and provided committed financing to Dundee and UMG. The Raine Group served as exclusive financial advisor and Manatt, Phelps and Phillips, LLP served as legal advisor to Chord Music Partners. Latham & Watkins LLP. served as legal counsel to KKR.

About Universal Music Group
At Universal Music Group, we exist to shape culture through the power of artistry. UMG is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content. Featuring the most comprehensive catalogue of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation, and entrepreneurship, UMG fosters the development of services, platforms, and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. For more information, visit www.universalmusic.com.

About Dundee Partners
Dundee Partners is the investment office of the Hendel family and has a long history of unwavering dedication to the promotion of arts and culture. The family is proud of its decades-long support for theater and notably were lead producers of the Broadway hit “Fela!”. In addition to co-founding Chord Music Partners, Dundee is the majority owner of Knitting Factory Entertainment, Partisan Records, and Kino Lorber. Beyond those endeavors, the family continues to make strategic investments at the intersection of music and technology, shaping industry and cultural evolution.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

SOURCE Universal Music Group N.V.

 

 

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Trace Genomics Raises Oversubscribed $10.5 Million Series B, Expanding Reach of Pioneering DNA Soil Intelligence Platform

Rabo Frontier Ventures

The Company also welcomes new Chief Marketing and Chief Revenue Officers to bolster strategic growth.

AMES, Iowa, Feb. 20, 2024 /PRNewswire/ — Trace Genomics (Trace), the industry leader in DNA-based soil intelligence, today announced its successful Series B funding round at $10.5 million led by existing investors S2G Ventures and Ajax Strategies, as well as new investor Rabo Ventures. The round exceeded expectations and demonstrated strong investor confidence in Trace’s trajectory and growth strategy. With this additional funding, Trace plans to expand its commercial growth, making its offerings available to more farmers and agronomists.

Poornima Parameswaran, CEO and Co-founder of Trace, stated, “The Series B funding represents a pivotal milestone for Trace, positioning us to accelerate our reach with cutting-edge soil DNA intelligence solutions, and advancing sustainable agriculture with a focus on farmer profitability. Our commitment to providing customers with innovative technology and comprehensive support with operational excellence aims to improve agricultural business outcomes and boost productivity for farmers and agronomists.”

Trace Genomics, a leader in soil health innovation, has developed a groundbreaking way to understand what’s happening beneath the surface of our farms. By examining the DNA of organisms in soil, farmers can get an individualized and detailed picture of soil health. This approach not only highlights what’s going on with the soil right now but also helps farmers make better decisions for their crops in the future. Trace Genomics helps farmers identify potential diseases before they become a problem, understand the soil’s fertility levels, and offer personalized recommendations to improve crop health and yield. This means farmers can grow more with less, using the optimal biologicals and chemicals, and making farming more sustainable for all.

“We’re excited to partner with Trace as they continue to advance and scale their technology,” said Cristina Rohr, Managing Director at S2G Ventures. “Their innovation provides deep soil insights, fostering sustainable crop production and improved decision-making across the agricultural value chain. Trace Genomics empowers farmers, manufacturers, and agronomists with better risk assessment and demand forecasting, leading to enhanced yield and cost management.”

In 2024-25, Trace is set to broaden its reach, aiming to deliver its pioneering data and insights to an increased number of growers and agronomists, building on both existing and new partnerships. To support this growth, the company is delighted to announce the addition of two key leaders to its team, significantly enhancing its commercial capabilities. Adam Burnhams joins as the Chief Marketing Officer, bringing over 30 years of global agribusiness experience, encompassing sales, marketing, research, and development roles across startups, basic, and post-patent companies. Tim Yandel joins as the Chief Revenue Officer, a seasoned sales professional with 20 years of experience, including 15 years in leadership positions, with expertise in machine learning, AI, computer vision, big data, marketing tech, and climate tech.

This strategic expansion builds upon last year’s successes, which included the launch of its flagship product TraceCOMPLETE, the establishment of key commercial partnerships in the US and Canada, the refinement of its commercial strategy for enhanced market penetration, and compelling success stories from farmers and agronomists about how Trace’s insights have improved their financial outcomes.

“While it’s widely acknowledged that the soil microbiome significantly impacts crop outcomes, soil-biology analysis has historically been underutilized in agronomists’ toolkits due to cost, complexity, and time requirements. However, Trace’s cutting-edge soil intelligence platform has successfully addressed these challenges. As a result, it provides growers with an unprecedented level of insight and truly data-driven recommendations,” said Shishir Sinha, Investment Director at Rabo Ventures. “We are excited by the paradigm shift that Trace brings to agriculture – unlocking the power of biologicals while enabling the adoption of NUE solutions, and making pest management predictive”

About Trace Genomics
Trace Genomics is a pioneer in the use of hi-definition genomics, soil science, and machine learning to activate hidden insights in soil for economic and ecosystem benefits. Where most companies deliver a partial picture, we provide a comprehensive and precise understanding of the soil’s composition—analyzing the soil’s biology, physical properties, and chemistry. Trace Genomics delivers targeted database insights and actions at cost-speed-scale-accuracy for partners who are advancing modern farming solutions. More information can be found at www.tracegenomics.com.

Contacts
Kaylee Tanner
Trace Genomics
kaylee.tanner@tracegenomics.com

SOURCE Trace Genomics

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Adelis Equity Partners, via Adelis Fund II, exits Presto and HVD Group to a Continuation Vehicle led by HarbourVest Partners alongside Adelis Fund III

Adelis Equity

Adelis Equity Partners (“Adelis”) has raised a Continuation Vehicle to invest in Presto AB (“Presto”) and HVD Group (“HVD”, f.k.a. Hantverksdata), two portfolio companies in Adelis Equity Partners Fund II (“Adelis Fund II”). The Continuation Vehicle, which was led by HarbourVest Partners (“HarbourVest”), will invest alongside Adelis Equity Partners Fund III (“Adelis Fund III”) and the Adelis team.

Presto is the leading European player within fire safety and compliance services, having recently entered Germany through the acquisition of Jockel Brandschutztechnik Service GmbH, the German market leader in fire safety. Since being acquired by Adelis Fund II in December 2018, the company has quintupled its revenues to SEK 2.7 billion with healthy profitability.

Erik Hallert at Adelis says “Presto has had an impressive growth journey to date in the Nordics and has furthermore entered the German market through the transformative transaction with Jockel. We are excited about remaining as the majority shareholder in Presto and, together with management, taking part in the company’s continued growth in both existing and new geographic markets.”

HVD recently merged with Next One Technology (“Next”) to form a leading Northern European provider of ERP and project management software for the tradespeople and construction industries. Adelis Fund II acquired HVD in June 2018 and under Adelis’ stewardship, the business has more than tripled in size, increasing its share of recurring revenue from 66% to more than 90%. The merger with Next, in which the EQT X partnership became a co-investor in the group, further expanded the HVD business.

Joel Russ at Adelis says “After being partners with HVD for over five years and watching management and the company successfully develop into a leading, cloud-based software provider to the Nordic market for tradespeople, we continue to believe that the company is well-positioned in an attractive, growth market. We look forward to supporting HVD’s and Next’s continued growth.”

HarbourVest acted as lead investor in the EUR 430 million Continuation Vehicle, augmented by EUR 183 million of capital invested and committed from Adelis Fund III and the Adelis team.

Edward Holdsworth at HarbourVest says “We are pleased to expand our longstanding partnership with Adelis on this transaction and look forward to continuing to support the exciting growth prospects for Presto and HVD.”

Adelis was advised by Akin Gump, White & Case, PwC and Vinge on the transaction.

HarbourVest was advised by Kirkland & Ellis on the transaction.

The transaction is subject to customary regulatory approval and is expected to close in April 2024.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 39 platform investments and more than 200 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.

About HarbourVest Partners

HarbourVest is an independent, global private markets firm with 40 years of experience and more than $117+ billion of assets under management as of September 30, 2023. Our interwoven platform provides clients access to global primary funds, secondary transactions, direct co-investments, real assets and infrastructure, and private credit. Our strengths extend across strategies, enabled by our team of more than 1,150 employees, including more than 230 investment professionals across Asia, Europe, and the Americas.  Across our private markets platform, our team has committed more than $58 billion to newly-formed funds, completed over $50 billion in secondary purchases, and invested over $37 billion in directly operating companies. We partner strategically and plan our offerings innovatively to provide our clients with access, insight, and global opportunities. For more information, please visit www.harbourvest.com.

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Qics expands into the Nordic market with the acquisition of Danish Projectflow

Main Capital Partners

Qics, a leading Dutch provider of professional services automation (PSA), announces the acquisition of ProjectFlow, a Danish software provider for Project and Portfolio Management (PPM).

Combining the strengths of both companies in adjacent verticals will result in a market-leading best-of-breed offering in North-Western Europe, providing a solid basis for further internationalization. This acquisition marks the first add-on acquisition for Qics since entering into the strategic partnership with Main Capital Partners c. 2 years ago.

ProjectFlow is a Danish company, founded in 1999 and headquartered in Odense, Denmark, that develops and delivers a project and portfolio management tool. With 16 FTE, ProjectFlow develops and delivers the SaaS product ProjectFlow 365 to customers in Denmark and Norway. ProjectFlow currently has +80 customers, of which approximately two thirds is active within the public sector. The remaining customers are active across several verticals. ProjectFlow’s customer base includes entities such as the Municipality of Copenhagen, BITZER Electronics A/S, GLS, and the Danish Tax Authority.

Qics, a Dutch software company headquartered in Katwijk, The Netherlands, with a development office in Slovakia, is a leading provider of professional services automation (PSA) software. With over 350 clients, including ICT and SaaS companies such as xxllnc, BCS , accountancy customers such as Joanknecht, Londen & Van Holland and healthcare companies such as Proteion and Vierstroom Hulp Thuis, Qics empowers business service providers and healthcare companies in their digital transformation journey through smart SaaS solutions encompassing planning, time tracking, invoicing, and business intelligence. Employing over 30 full-time equivalents, Qics stands at the forefront of PSA, driving efficiency and innovation for its diverse clientele.

Mutually interchangeable product suites

Qics and ProjectFlow form a strategic partnership, leveraging their synergistic PSA and PPM product suites within Project Management. This collaboration integrates ProjectFlow’s scalable software, known for its flexibility with modules like document management, and its integration with Jira, which is tightly integrated with Microsoft Office and with Qics’ scalable best-of-breed solutions in time registration, planning, invoicing, as well as in business intelligence. The acquisition of ProjectFlow not only fosters strong cross-sell opportunities, as Qics’ modules such as Invoicing and Business Intelligence will be offered directly to ProjectFlow’s customer base and vice versa. This combination also enhances the overall solution suite, catering to both internal and external project management needs within the Project Portfolio Management space. This strategic move positions Qics for substantial growth and innovation in the competitive ICT and SaaS customer landscape.

Market-leading player in North-Western Europe

By combining ProjectFlow’s robust standing in the Danish Project Management Software market with Qics’ strong position in the Netherlands, the merged entity is poised to emerge as a major player in the Benelux and Nordics regions for Project Portfolio Management. This combination establishes a solid foundation for future buy-and-build strategies, propelling the group towards becoming a market-leading player in North-Western Europe. Qics’ geographical presence offers ProjectFlow an opportunity to expand its footprint in the Benelux, capitalizing on the high Microsoft adoption. Additionally, the combined group stands to benefit from Main’s expertise in internationalization and sales scalability within an expanded international framework.

Karsten Ley Poulsen, CEO of ProjectFlow, mentions: “The strategic partnership with Qics represents an exciting chapter for ProjectFlow. We look forward to integrating our scalable project and portfolio management tool with Qics’ best-of-breed solutions, creating a powerful offering for our customers. This collaboration not only expands our market reach, but also enhances our ability to provide innovative solutions in the Project Management space.”

Eddy Plasier, CEO of Qics, adds: “The acquisition of ProjectFlow strengthens the current offering of Qics and positions us well for further growth in ICT, SaaS and other verticals  in both The Netherlands as in the Nordics. We are excited to work with their enthusiastic team on modern solutions for Project Management in its broadest sense and are convinced our shared customer base will benefit from this collaboration.”

Ivo van Deudekom, Investment Director at Main concludes: “The strategic move marks a natural progression for Qics, extending their Project Management capabilities into Project Portfolio Management (PPM) while also entering the Nordics. The synergies between Qics and ProjectFlow are evident in the highly complementary functionalities, customer bases, and geographical focus. This acquisition creates a powerful combination, poised to deliver innovative solutions and strengthen our presence in the Project Management landscape. Lastly, Qics makes use of ProjectFlow’s software for the integration of both organizations, which we consider a blueprint for other companies with buy-and-build strategies. We are excited about the opportunities this collaboration brings and look forward to the growth and success it will unlock.”

We are excited about the opportunities this collaboration brings and look forward to the growth and success it will unlock.

– Ivo van Deudekom, Investment Director at Main Capital Partners

About

ProjectFlow

ProjectFlow is a Danish company, founded in 1999 and headquartered in Odense, Denmark, that develops and delivers a project and portfolio management tool. ProjectFlow develops and delivers the SaaS product ProjectFlow 365 to customers in Denmark and Norway. ProjectFlow 365 is utilized for project and portfolio management, resource management, and time registration. It is closely integrated with Microsoft 365. ProjectFlow currently has over 80 customers, of which approximately two thirds is active within the public sector. The remaining customers are active in energy/utilities, production, finance and professional services. Examples of such customers are: evida, sundhed and Dankske Spil. The clientele includes entities such as the Municipality of Copenhagen, Søstrene Grene, GLS, and the Danish Tax Authority. The company currently employs 16 FTE.

Qics

Founded in 2000, Qics is a dynamic company with approximately 30 employees dedicated to serving over 350 customers at a national and international level from offices in Katwijk and Slovakia. The diverse client base includes business service providers in accountancy (Lansigt Accountants and Tax Advisors and Vermetten Accountants and Advisors), consultancy (Verdonck, Klooster & Associates and House of Performance), IT (Ximedes and xxllnc), and the healthcare sector (Vierstroom Hulp Thuis and Florein Zorg). At the core of Qics’ portfolio are three robust SaaS solutions: QicsMilestones, QicsDashboards, and Assist Planner. QicsMilestones facilitates planning, time registration, and invoicing for business service providers, while QicsDashboards enables the creation of report models in Microsoft Power BI. Assist Planner is utilized by organizations offering care assistance. Currently boasting 20,000 users, all Qics products stand out for their user-friendliness, efficient and attractive design, and international scalability.

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CapMan Social Real Estate Fund acquires office and educational property Porcelænshaven, in Copenhagen, Denmark

Capman

CapMan Social Real Estate Fund acquires office and educational property Porcelænshaven, in Copenhagen, Denmark

CapMan Social Real Estate (CMSRE) acquires a historical office and educational property, currently fully let to Copenhagen Business School (CBS), and situated in Frederiksberg, Copenhagen, Denmark. This is the second investment for the recently established CMSRE fund which made its first investment in central Helsinki earlier this year. The investment executes on the funds strategy to build a well-diversified portfolio of social real estate properties across the Nordics.

The property is well located in Frederiksberg, right next to the Frederiksberg Gardens and close to central Copenhagen. It consists of 19,300 m2 of lettable office and educational space set in historical buildings originally built in 1882 with later additions. The buildings used to function as a porcelain factory and have since been converted into offices, classrooms, and lecture halls, preserving the original characteristics of the buildings.

The property is fully let out to its’ sole tenant the Copenhagen Business School (CBS) and has been part of the schools’ campus area since 2005. CBS is one of the largest business schools in Europe with more than 22,000 students and 1,500 employees. The asset also includes 325 underground parking spaces, all of which are leased to CBS.

CapMan Real Estate will perform accessibility improvements as well as energy efficiency improvements in alignment with the CRREM energy reduction pathway in the buildings. It also plans to pursue EU taxonomy alignment (climate change mitigation) and DGNB In-Use certification for the asset. The property currently holds energy performance certificate A (2010).

“We are glad to acquire this property which marks the second investment for the CMSRE fund and expands its portfolio in the Nordics. Porcelænshaven is a special property in a unique location and therefore it represents the type of asset we are looking for in this fund. We look forward to developing the asset to support the needs of the students, teachers and personnel at CBS”, shares Peter Gill, Partner and Head of CapMan Real Estate Denmark.

This is the second investment for CMSRE which continues fundraising, targeting EUR 500 million of equity commitments and total investment capacity of nearly EUR 1 billion over the coming years. The recently established fund invests in properties that are used for providing essential public services across multiple sectors. It is looking to build a well-diversified portfolio of social real estate properties across Sweden, Finland, Denmark and Norway.

CMSRE is classified as an Article 8 financial product under the Sustainable Finance Disclosure Regulation (EU). The fund is a German special investment fund. HANSAINVEST Hanseatische Investment-Gesellschaft mbH acts as the alternative investment fund manager (“AIFM) of the fund. CapMan Real Estate acts as advisor for the fund.

The real estate assets managed by CapMan Real Estate currently amount to approximately EUR 4.2 billion. The real estate investment team employs around 80 real estate investment professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.

For further information, please contact:

Peter Gill, Partner and Head of CapMan Real Estate Denmark, +45 20 43 55 63

Robert Feldt, Investment Director, CapMan Real Estate, +45 50 51 88 41

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.  

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DocuPhase Announces Major Investment by Aquiline Capital Partners and Level Equity

Aquiline

NEW YORK, Feb. 20, 2024 – DocuPhase LLC (“DocuPhase” or “the Company”), a provider of accounting and finance process automation software, announces a majority investment from Aquiline Capital Partners LP (“Aquiline”), a private investment specialist in financial services and related technologies, and Level Equity, a private investment firm focused on high growth software businesses.

Based in Tampa, Florida, DocuPhase provides software solutions to over 1,200 customers that enable finance teams to streamline invoicing and payment procedures, saving time, reducing errors, and lowering costs. The Company provides core software solutions across accounts payable automation, accounts receivable automation, and document management.

The investment from Aquiline and Level Equity will allow DocuPhase to continue to drive strong organic growth, expand its product suite, improve its offering through investment in product innovation, and grow its recently launched vendor payments solution to better serve its customer base.

Dan Gaertner, CEO of DocuPhase said: “This investment in DocuPhase marks a significant milestone in our company. The infusion of capital validates our product’s strength and potential while empowering us to accelerate our growth and expand our reach. I’m genuinely excited for our employees and our customers; having the combined support of Aquiline and Level Equity is a game changer for DocuPhase. We are poised to continue innovating and delivering exceptional value to our customers and creating additional career growth opportunities for our employees.”

Joe Pappalardo, a Partner at Aquiline, commented: “In an increasingly digital world, it is imperative for finance departments to drive efficiencies through automation and adoption of best of breed software. DocuPhase’s broad and robust suite of solutions drives real ROI for their customers, and has helped drive the Company’s strong growth and retention. Aquiline is thrilled to partner with Dan and the DocuPhase team to execute our collective vision for the business.”

Ben Levin, Co-Founder and CEO of Level Equity, commented: “Level is excited to make another investment focused on the office of the CFO where we see consistent and continued product innovation driving real business value. Dan and his team have demonstrated the powerful ability to innovate and expand the product suite while simultaneously accelerating growth and profitability.”

Leonis Partners served as the exclusive financial advisor to DocuPhase in the transaction.

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