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Halma plc to acquire Rovers Medical Devices from Smile Invest

Smile Invest

Today, Smile Invest announces the sale of Rovers Medical Devices B.V. (“Rovers”), the leading designer and manufacturer of sample collection devices used in the prevention and diagnostics of cervical cancer, to Halma plc (“Halma”), a global group of life-saving technology companies.

Halma will support Rovers in realizing its ambition to become the global leader in sample collection devices targeted at the prevention and diagnostics of cervical cancer and other diseases, thereby reinforcing its vital role in cervical cancer screening globally.

Rovers sees Halma as the perfect partner to realize its growth ambitions and a partner that is well aligned with its culture and mission. Halma’s extensive experience creates a solid basis for Rovers and its employees to realize the company’s strategic agenda.

In the 5-year period of working together with Smile Invest, Rovers managed to reinforce the position of its key products globally, create compelling new products and further improve the highly automated production set-up, creating a solid foundation for the Rovers’ next growth phase.

Rovers and its shareholders were advised by Lincoln International (financial advisor).

This transaction is the fourth deal of Smile Invest this year, following the exit and reinvestment in SmartSD, the sale of Microflor and the recent investment in MedEnvision.

Roel Leenders – Chief Executive Officer, Rovers
“We want to contribute to the prevention of cancer on a global scale. This mission strongly aligns to Halma’s when it comes to improving quality of care for patients. Many physicians work with us to develop the highest quality screening products that are most effective for their patients. I am grateful for Smile Invest’s support during the holding period, in which Rovers was able to grow significantly and continued to invest in its state-of-the-art, fully automated production set-up.”

Ivo Vincente and Thomas Dewever – Managing Partners, Smile Invest
“We are proud to have supported Rovers in its development as the reference in the market for cervical cancer cell sampling. As a key player in women’s health we are convinced that Rovers will remain the solution of choice for medical professionals and women worldwide. It has been a privilege to work with Roel Leenders and Rover’s management team and we wish them all the best under the Halma umbrella.”

Marc Ronchetti – Chief Executive Officer, Halma
“Rovers will broaden the range of markets we serve in women’s health and further strengthen our Healthcare sector’s position in cancer diagnosis products. We are excited by the opportunities we see to increase Rovers’ positive impact on public health. We expect its future growth to be driven by increasing global cervical screening rates, supporting the World Health Organization’s strategy to accelerate the early detection of cervical cancer.”

For further information, please contact:

Smile Invest NV

Thomas Dewever, Managing Partner: +32(0)476.423.582
Ivo Vincente, Managing Partner: +31(0)622.919.232

 

Rovers (www.roversmedicaldevices.com)
Rovers is a designer and manufacturer of sample collection devices used in the prevention and diagnostics of cervical cancer. Rovers’ products are principally for professional use and include its Cervex-Brush®, widely recognized as the gold standard for cervical cancer and HPV screening. Rovers’ products are used in more than 90 countries, and are sold primarily to medical diagnostic companies, as well as medical distributors, laboratories, research institutes and governments.

Smile Invest (www.smile-invest.com)
Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with over €500m of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in three investment themes: digitalization, healthcare and sustainability. Since its inception in 2017, Smile Invest has invested in 17 platform companies in Belgium and the Netherlands. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realizing their growth plans.

Halma plc (www.halma.com)
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad markets it operates in: Health, Environment and Safety. It employs over 8,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.

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Kinnevik leads funding round in Mews

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Kinnevik
Kinnevik AB (publ) (“Kinnevik”) today announced an investment of USD 41m in Mews, the leading vertical software and payments solution for hotels. In line with its priority to concentrate capital deployment and portfolio weight towards its highest conviction companies, Kinnevik led the USD 110m funding round valuing the company at USD 1.2bn post-money.

Kinnevik first invested in Mews in December 2022, and since then the company has continued to execute on its vision to create the leading platform for the new era of hospitality. The funding follows a year of significant growth, in which Mews achieved:

  • Over 60% increase in revenue year-on-year, crossing USD 100m in annualized net revenue
  • A significant increase in Gross Payment Volume to over USD 8bn
  • Over 16 million annual check-ins at hotels worldwide
  • Three new acquisitions (Frontdesk Anywhere, Hotello and Nomi), taking the total number of hospitality companies acquired by Mews to eight

The new funding sets Mews up for further growth and enables the company to prioritize global expansion, research and development and acquisitions. Mews aims to revolutionize hotel operations with its cloud-based system that integrates with thousands of other tech solutions. Today, over 350,000 hospitality spaces are managed via Mews across 5,000 customers worldwide, including Strawberry Hotels, The Social Hub and Airelles.

Kinnevik led the USD 110m funding round with an investment of USD 41m, alongside Revaia, Goldman Sachs Alternatives, Notion and new investor LGVP. The new funding values the company at USD 1.2bn, some 10% above Kinnevik’s assessed valuation in its 2023 year-end net asset value statement on a like for like basis.

Akhil Chainwala, Investment Director at Kinnevik, commented: “Matt and Richard are building a product and a team that is redefining the hospitality industry. In the short period of time since our initial investment, Mews has outperformed our expectations as it moved into new geographies and segments. Now, we are excited to further back the team to help them realize their ambitions and accelerate even more quickly – especially to extend the platform’s combination of software and payments. We’re looking forward to continuing this journey with Mews and being a part of the transformation that is happening across the industry.”

Richard Valtr, Mews Founder, commented: “We’re seeing a fundamental shift in the way the world’s leading hospitality brands are accelerating their digital transformation and reshaping the way they deliver hospitality. With this raise we will continue to build industry-leading products with a world-class team behind us. In five years, the way that hospitality brands and guests interact with each other will be completely different, with Mews leading the way.”

Matt Welle, CEO of Mews, added: “This funding is a credit to the strength of our vision, the Mews team, our forward-thinking customers and committed investors who have helped us get to where we are today. As more hoteliers embrace modern technology, we have a huge opportunity to help them streamline their operations, build more profitable businesses and deliver personalized guest experiences. Mews is in a unique position to truly transform the industry.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik’s ambition is to be Europe’s leading listed growth investor. We back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthcare, software, marketplaces and climate tech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe and the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Reena Carter joins OMERS Infrastructure

Omers Infrastructure
Reena Carter news banner

(March 4, 2024) OMERS today announced that Reena Carter has joined OMERS Infrastructure as Senior Managing Director, Portfolio Management and Operations, reporting directly to Michael Hill.

Commenting on the appointment, Michael Hill, Global Head of OMERS Infrastructure, said: “I’m thrilled Reena joins our team today. Leveraging her many years of experience, Reena will now be responsible for executing the OMERS Infrastructure operating strategy and actively participating in our related committees.”

Reena also joins the global Infrastructure Management Committee alongside Michael Hill, Alastair Hall (Head of Europe), Chris Curtain (Head of Asia-Pacific), Irini Kalamakis (Global Head of Strategic Partnerships) and John Knowlton (Senior Managing Director).

Reena joined OMERS in 2003 as part of Borealis Infrastructure. She has held progressively senior Finance positions, ultimately leading the Finance & Operations function for the business. Since then, Reena has held various roles at OMERS, most recently as Head of Investment Finance & Valuations, with responsibility for both Infrastructure and Private Equity.

For further information on our leadership team and colleagues around the world, please visit here: https://www.omersinfrastructure.com/team/.

About OMERS Infrastructure

OMERS Infrastructure manages infrastructure investments globally on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, and third-party investors through its Strategic Partnership Program. OMERS Infrastructure manages approximately C$36 billion, including capital invested on behalf of OMERS and third parties, in approximately 30 investments located in North America, Western Europe, India and Australia, and across sectors including energy, digital and transportation. OMERS Infrastructure has employees in Toronto, New York, London, Amsterdam, Singapore and Sydney.

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Cinven agrees to make significant strategic investment in Alter Domus

Cinven

International private equity firm Cinven today announces that it has reached an agreement to make a majority investment in Alter Domus, a leading global provider of end-to-end tech-enabled fund administration and corporate services across three sectors: private equity, real assets and private debt. All existing shareholders, including the Company’s Founders and the Permira Funds, will sell approximately half of their shares to Cinven, and retain a significant investment in Alter Domus going forward. 

Established in 2003 and headquartered in Luxembourg, Alter Domus is one of the largest fund administrators globally, with over $2.5tn assets under administration (AuA). The firm has grown rapidly to meet the evolving needs of its client base, building a global network that now spans 23 jurisdictions, servicing 90% of the top 30 asset managers globally. Since 2021, Alter Domus has increased revenue by 54% and grown AuA by 69%.  

Cinven has spent significant time targeting investment opportunities in the fund services subsector, given its attractive and resilient characteristics, underpinned by structural growth in the alternative assets space. Cinven’s Business Services and Financial Services sector teams worked together in close partnership to acquire Alter Domus, identifying the following key investment attractions:

  • Its impressive financial track record, with Alter Domus having consistently outperformed the market, delivering double-digit organic growth and attractive margin performance;
  • Alter Domus represents a scarce, market-leading global fund services platform that delivers market-leading service levels to a blue-chip customer base including 90% of top-30 asset managers served;
  • It is a proven M&A platform in the fragmented fund services market that has a successful track record of acquisitions, and a strong further pipeline of potential buy and build opportunities across a range of markets and geographies; 
  • The company operates in attractive markets, with the fund services subsector benefitting from the structural growth of private capital markets, increasing regulation and a continued trend towards outsourcing of fund services, together with downside-protection through strong revenue visibility and cashflow generation; 
  • Alter Domus has received significant investment in the tech-enablement of the Company – resulting in best-of-breed third-party platforms, workflow automation and a leading data and analytics product capability to better serve the increasingly complex needs of its global client base; and
  • It has an experienced and highly respected management team that has led the strong performance to date.

Through this transaction, Cinven will support the long-term strategic growth of Alter Domus, working in close partnership with Alter Domus’ founders and Permira. 

Drawing on its global platform and leveraging the expertise of both its Business Services and Financial Services sector teams, and its Digital Hub team, Cinven will support management to accelerate growth across key regions and customer verticals and invest further in developing Alter Domus’s leading tech-enabled and digital offerings to its clients.

Rory Neeson, Partner and Head of Cinven’s Business Services sector team, said: 

“Cinven is delighted to make this investment in Alter Domus. Fund services has been a priority subsector for Cinven’s Business Services team for some time due to the attractive business model characteristics and strong growth drivers. We have followed Alter Domus closely over many years and admired it as a global leader with blue-chip clients and leading service levels. Looking forward, we see significant potential for further growth and look forward to working with the management team and shareholders in the next phase of its journey.”

Maxim Crewe, Partner and Head of Cinven’s Financial Services sector team, added:

“Alter Domus is well positioned to benefit from the strong growth in the fund services market, underpinned by the structural expansion in private capital markets, greater regulation and further outsourcing. The Company is a leading player in the industry with a differentiated service proposition, and we see a compelling opportunity to leverage Cinven’s Financial Services sector knowledge and global footprint to help the business continue this trajectory.”

Doug Hart, Chief Executive Officer of Alter Domus, commented:

“With an enviable track record of investing in fast-growing, world-class businesses, we are thrilled to welcome Cinven as an investor in Alter Domus. Cinven shares our strategic vision and commitment to developing long-term technology-enabled partnerships with the leading alternatives firms globally through the delivery of operational and client service excellence. Together we look forward to further accelerating our international growth and delivering innovative new services to our clients.”

The transaction is subject to regulatory approvals and other customary closing conditions. 

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Team Update at EMH Partners

EMH Partners

Munich, March 04, 2024 – EMH Partners, a leading growth investment firm, is delighted to announce several promotions, as well as a new addition to the EMH team.

Effective as of 01 January 2024, Jens Zuber has been promoted to Partner. Within the investment team Fenna Mueller and Andre Bickel have both been promoted to Senior Associates. In the operations team Leandra Daum has been promoted to Finance Associate, Anna Desl to Executive Assistant and Maurice Faber to Senior Vice President Operations. Furthermore, EMH Partner’s operations team has been strengthened and expanded as Achim Kreuzer joined EMH as ESG Manager.

“Whilst our portfolio companies invest their trust in EMH Partners, we invest ours in people that share a strong set of values”, says Maximilian Kuss, Co-Founder and Managing Partner at EMH Partners.  “Our team of hand-picked investment professionals, industry and operations experts stands for continued dedication to excellence. Congratulations to all colleagues at EMH on their well-deserved promotions, and a warm welcome to our new joiner!”

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Quilvest Capital Partners invests in Acuiti Labs to drive further expansion

Quilvest Capital logo

06 March 2024 – Quilvest Capital Partners (“Quilvest”), a dedicated global mid and lower midmarket alternatives investment manager with over $7 billion in AUM, today announces its
investment in Acuiti Labs, a leading SAP consultancy specializing in optimizing the quote-to-cash
process.

Founded in 2014 by CEO Manoj Harbhajanka and headquartered in London, Acuiti Labs has
established itself as one of the largest consultancies dedicated to the quote-to-cash process, with
over 200 employees and global operations spanning North America, Europe and Asia. The
company advises large, blue-chip businesses seeking to optimize their revenue management and
billing processes through SAP Billing and Revenue Innovation Management (BRIM) solutions.
Quilvest’s investment will support Acuiti Labs’s continued global expansion strategy, including
further headcount growth and investment in technology, with a relentless focus on delivering bestin-class service, support and technology to its clients and partners.

With a global and diverse client base, Acuiti Labs delivers solutions aimed at making their
customers successful by monetizing services, minimizing revenue leakage and enhancing
financial reporting functionalities. The company derives 40% of its revenue from the U.S. market
and 55% from Europe, alongside other international regions.

Manoj Harbhajanka, CEO of Acuiti Labs, said, “We are thrilled to welcome Quilvest as our
strategic partner, poised to support our company in its next phase of growth. Leveraging their
professional expertise and extensive network, coupled with Acuiti Labs’s strong positioning and
talented management team, we are looking forward to further success.”
Benjamin Sass, Partner at Quilvest Capital Partners, said: “Acuiti Labs is at the forefront of an
enduring technology shift as companies across various industries seek to transform and optimize
their revenue models. We are honored that Quilvest Capital Partners has been selected as the
partner for Acuiti Labs’s next growth chapter, and we look forward to combining our international
reach and partnership approach with Acuiti Labs’s unique expertise and proven success in the
SAP BRIM space.”
-ENDS

About Quilvest Capital Partners
Quilvest Capital Partners is a leading global investment manager focused exclusively on the midmarket. It operates four investment strategies: Buyout; Primaries, Co-Investments and
Secondaries; Private Credit and Real Estate.
As one of the earliest pioneers in the alternative investment industry, we pride ourselves on our
rich and extensive history, with decades of experience deploying capital across multiple business
cycles and environments. We are trusted to manage over $7bn AUM for a prestigious base of
global investors, including leading pension plans, sovereign wealth funds, insurance companies, and family offices.

Our heritage dates back more than a century to 1917, managing the wealth of
our founding shareholder, the Bemberg family, which we continue to do today.
With six offices worldwide, our team is focused on identifying the global trends and themes
underpinning each investment strategy. We overlay this thematic approach with an extensive
global network of highly valued relationships, enabling us to identify and invest in the best
opportunities for our investors and partners.

Quilvest Capital Partners is committed to the highest standards of excellence. We offer best-inclass infrastructure and the professionalism of a leading global investment firm while retaining the
deeply personal, entrepreneurial, nimble approach routed in our origins.
For more information, visit www.quilvestcapitalpartners.com

About Acuiti Labs
Acuiti Labs, headquartered in London, is a global SAP consulting firm specializing in “Quote to
Cash” process transformation and optimization. As a SAP Silver Partner, we excel in delivering
business technology solutions and digital transformation by deploying SAP BRIM on S/4HANA
and cloud-based applications like Subscription Billing, CPQ and Entitlement Management.
With exceptional experience across various industries, Acuiti supports subscription and
consumption-based Target Operating Models, which is ‘Anything as a Service’ covering industries
like Public Transport, Automotive, Travel and Tourism, Ports (Airports & Seaports), Postal, Telco,
Media and Hi-Tech. Acuiti Labs prioritizes value realization and the monetization of digital assets, services and
strategies, offering end-to-end services covering Business & IT consulting, implementation,
training and managed support to our clients while keeping customer benefits at the forefront of
our efforts.

For more information, visit www.acuitilabs.com
Media contacts
Greenbrook
Tashi Lassalle / Demi Kurban / Sofia Newitt
+44 (0) 20 7952 2000
Quilvestcapital@greenbrookadvisory.com

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Affidea enters into an agreement to acquire MedEuropa Romania

Telemos Capital

Bucharest, Romania, 4 March, 2024: Affidea Group, Europe’s largest provider of advanced
diagnostics, multi-speciality polyclinics and Centres of Excellence, announced today that it has
entered into a binding agreement to acquire MedEuropa Romania, a renowned cancer care
provider.

MedEuropa Romania operates four medical centres in Romania, spanning Constanta, Bucharest,
Brasov, and Oradea, with two further centres set to open in Iasi and Bacau during 2024. The company
is renowned for its expertise in advanced cancer care, including Radiotherapy, Chemotherapy and
broader oncology services, all of which integrate into Affidea’s primary diagnostic and polyclinic
portfolio in Romania. The acquisition adds radiotherapy services to Affidea’s capability in Romania,
complementing existing radiotherapy services that Affidea provides across its European footprint.
Philippe Jacobs, Chairman and Silviu Savin, CEO of MedEuropa commented: “We are proud to have
built a greenfield network of clinics providing high quality patient care and treatments across Romania.
We would like to thank our doctors and staff for their contributions over the past years. We believe
that an integrated care solution is optimal for oncology patients and therefore see the integration of
MedEuropa in the larger Affidea family as an ideal avenue for delivering the best care and results for
cancer patients in Romania.”

Razvan Predica, Country CEO for Affidea Romania and Hungary, stated: “Cancer is claiming far too
many lives in our communities, with approximately 100,000 people being diagnosed with an
oncological disease in Romania every year. This acquisition isn’t just about growth; it’s about standing
shoulder-to-shoulder with the National Health System and those affected by this relentless disease.
We look forward to working with the great team of MedEuropa following the closing and continue
delivering value for every individual impacted by cancer by increasing access to more comprehensive
cancer care pathway from diagnosis to treatment and follow-up.

Guy Blomfield, CEO and Chairman of the Management Board for Affidea Group, added: “At Affidea,
we have a provenance in the provision of comprehensive cancer care pathways across several
European countries, with a network of Community Clinics and Centres of Excellence which are
dedicated to providing access and high-quality care to the patient communities we serve. Romania’s
healthcare market is embracing the challenge of improving cancer survivorship outcomes, and
Affidea’s integrated service model will have an important role in helping to improve early detection
and diagnosis, as well as providing more access to radiotherapy services in community settings across
Romania. Affidea and MedEuropa, both have impressive reputations for high quality patient care, and
I am very confident that the integration of services will further enhance outcomes for oncology patients
across Romania.

Completion of the acquisition is subject to the approval of the Romanian Competition Council. Affidea
Group was advised by Rizoiu & Asociatii and Clifford Chance as legal advisors, while Deloitte served as
financial advisor. The sellers were advised by Biris Goran and Linklaters as legal advisors.

About MedEuropa
Telemos Capital in partnership with a local team of entrepreneurs, established MedEuropa to address the undersupplied Romanian radiotherapy market, with a vision of building a greenfield network of clinics across the
country. MedEuropa is committed to providing state of the art cancer treatment, with a strong focus on
radiotherapy. The company operates four clinics across Romania (in Brasov, Bucharest, Constanta and Oradea)
and is constructing additional clinics and treatment centres in Iasi (opening planned in Q1 2024), Bacau, Brasov,
and Bistrita.

About Telemos Capital
Telemos Capital (www.telemoscapital.com) invests in private European businesses, with the aim of building
great companies for the long term. Funded by family capital, it combines the flexibility and nimble decisionmaking of a family office with the active ownership and professionalism of private equity. Telemos seeks to
acquire majority stakes in businesses with the potential for sustainable growth through international
expansion, add-on acquisitions or operational improvements. Other Telemos investments in the Healthcare
Services sector include Stingray and Sanoptis (exited in 2022).

About Affidea Romania
Affidea Romania is one of the leading healthcare providers across the country, offering advanced diagnostics,
laboratory analysis and multi-specialty consultations, with 50 medical centres in 26 cities. The Affidea Romania
team consists of more than 1,500 professionals, out of which over 900 clinicians, annually providing integrated
medical services for more than 2 million patients.

About Affidea Group
Affidea (www.affidea.com) is the largest European provider of advanced diagnostic imaging, out-of-hospital and
cancer care services. Founded in 1991, the company operates 355 centres across 15 countries, providing highquality medical services to nearly 13 million patients every year. Due to its track record for patient safety, the
company has become the most awarded diagnostic imaging provider in Europe by the European Society of
Radiology, as over 80% of the centres recognised on the Eurosafe Wall of Stars belong to Affidea. Affidea is
majority-owned by Groupe Bruxelles Lambert (GBL), a leading investment holding company, focused on longterm value-creation with a stable and supportive family shareholder base.

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CapMan and PwC join forces for the benefit of children and youth

Capman

CapMan and PwC join forces for the benefit of children and youth

CapMan and PwC join forces by launching a charity campaign for the benefit of the Tukikummit foundation in support of children and youth. The goal is to raise more than EUR 100,000 during this spring for the benefit of the Tukikummit foundation, and as the campaign continues, also challenge other companies to join. ”We want to multiply the amount collected annually for the benefit of youth and children over the long term,” states Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

The campaign, named #Steps4Tukikummit, combines the desire to do good with supporting a sense of community and the well-being of the personnel: the companies challenge their employees to walk and run together and with clients in order to grow the distance that charitable contributions will be based on. For every kilometre walked or ran, EUR 4 will be put forth towards the Tukikummit foundation by CapMan and PwC. The challenge lasts from March to the beginning of May 2024, culminating at the Helsinki City Running Day running event in May.

CapMan has been involved in fundraising for the Tukikummit foundation since 2014. In 2023, CapMan took an even more active role in the foundation’s operations by providing Tukikummit with resources and expertise and covering its operating expenses, with the goal of revitalising the foundation’s activities and continuing its work for good by significantly growing its brand awareness and fundraising.

“For us as a company it’s important to be able to provide direct help to those in need. The Tukikummit foundation has been a central way for us to provide support, and over the past few years, we have focused nearly all our charity work, towards the foundation, raising hundreds of thousands of euros for its charitable activities. We are thrilled with PwC’s decision to join us in developing this campaign we are now launching, and which we hope will be a significant initial boost for expanding the charitable operations of the Tukikummit foundation,” shares Joakim Frimodig, Chair of the Board of CapMan and the Tukikummit foundation.

“The desire to help children and youth in need has emerged as a top wish when we have asked our personnel about their preferred charitable causes. Through Tukikummit, we can be involved in supporting the goal that all children and young people should have the opportunity to engage in hobbies,” summarizes Kauko Storbacka, CEO of PwC Finland.

“In addition to doing good, we want to create more opportunities for our employees to come together and to exercise. Supporting a sense of community is especially important in the years post pandemic, and physical activity is an essential factor in enhancing well-being. The initial comments from our personnel have been encouraging. I believe and hope that as many as possible will be motivated to move for a good cause,” Storbacka continues.

PwC’s and CapMan’s common goal, is to grow the fundraising for the Tukikummit foundation into a long-term campaign and cooperation.

”The marginalisation of youth is a growing problem. Hobbies are a great way for a young person to experience purpose and connection with others. However, not everyone has equal opportunities to take part in hobbies, and this increases inequality between families. I am proud of this campaign kickstarted by PwC and CapMan, which I believe is a significant first step on our path towards a world where every young person is able to realise themselves and live a full life regardless of their financial situation and social status”, rejoices Maija Ilmoniemi, Managing Director at the Tukikummit foundation.

The Tukikummit foundation was established in 2007 from the common concern of the former President of the Republic of Finland Sauli Niinistö and Finnish business leaders Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. It distributes subsidies for disadvantaged children and youth, especially to cover hobby costs and supporting studies.

For more information, please contact:

Joakim Frimodig, Chair of the Board, CapMan, Chair of the Board, Tukikummit foundation, +358 50 529 0665, joakim.frimodig@capman.com

Kauko Storbacka, CEO, PwC Finland, +358 50 331 2336, kauko.storbacka@pwc.com

Maija Ilmoniemi, Managing Director, Tukikummit foundation, +358 40 5133781, maija.ilmoniemi@tukikummit.fi

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.  

About PwC

PwC’s purpose is to build trust in society and solve important problems. We help companies to improve their efficiency, promote growth and to report reliably in a constantly changing environment. Our services include consulting, deals, tax, legal, risk assurance, audit and other assurance services. PwC operates in 155 countries and in Finland, we have 1 350 experts working around the country. More information: www.pwc.fi/en.

About Tukikummit foundation

The Tukikummit Foundation was born in 2007 from the common concern of Sauli Niinistö, Sari Baldauf, Björn Wahlroos and Hjallis Harkimo for young people at risk of marginalisation. The foundation donates funds to children and youth in need of support for hobby activities and school attendance. CapMan Plc has focused its charitable donations to Tukikummit for already eight years’ time. In 2023 it took an even stronger role in the foundation by starting to fund its operational activities with the target of significantly growing the amount of donations collected and those receiving support. Learn more at: https://tukikummit.fi/in-english/

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Smile Invest joins as an investor in MedEnvision through a partnership with its management and founders

Smile Invest

MedEnvision (www.medenvision.com), a leader in innovative orthopaedic efficiency solutions, is thrilled to announce a pivotal partnership with Smile Invest, a distinguished European investment firm known for its focus on fostering innovative growth companies. This strategic partnership aims to fuel MedEnvision’s international expansion, drive new product development, and unlock new market opportunities.

Founded on the principles of enhancing efficiency in orthopaedic surgeries, MedEnvision has revolutionized the operating theatre with its patented product range, including the Gripper set, the EsySuit range, and specially designed retractors. These innovations offer dual benefits: they optimize time and resources by freeing up OR staff for more critical tasks while providing surgeons with enhanced control in surgeries involving the hip, knee, and shoulder. Currently, MedEnvision’s solutions have reached 26 countries, with a strong presence in the Benelux and the US.

MedEnvision’s mission lies in further improving the practices of an orthopaedic surgeon for the benefit of the patient, the nursing staff, the surgeon and the healthcare institutions. This mission is fully endorsed by new partner Smile Invest, who will further support this growth story together with MedEnvision’s management team and founders.

Dries Goyens, CEO of MedEnvision: “We are honoured to welcome Smile Invest into our company. Their proven track record in nurturing high-potential healthcare innovations aligns with our vision. This collaboration not only validates the impact of our products but also equips us with the strategic and financial support necessary to broaden our global footprint and continue improving surgical workflows. From the start, we felt the click between our teams and we look forward to a successful partnership.”

Bart Cauberghe, Managing Partner at Smile Invest, highlights: “MedEnvision represents the type of innovation and strategic foresight we value at Smile Invest. Their solutions directly address some of the most pressing challenges in healthcare today, such as improving procedural efficiency and mitigating the impact of nursing staff shortages. We are confident in MedEnvision’s growth trajectory and its role in advancing orthopaedic care for an ageing population aspiring to maintain an active lifestyle.”

 

Smile Invest

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with over €500m of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in three investment themes: digitalization, healthcare and sustainability. Since its inception in 2017 Smile Invest has built a portfolio of 15 companies. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realizing their growth plans.

Contact Smile Invest:

Bart Cauberghe, Managing Partner
bart.cauberghe@smile-invest.com | T. +32 476 33 66 69

Nicolas Costers, Investment Director
nicolas.costers@smile-invest.com | T. +32 476 44 63 23

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The Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

Capman

he Board of Directors of CapMan has decided on a directed issue to complete the acquisition of Dasos Capital Oy

CapMan Plc (“CapMan”) announced on 21 December 2023 the acquisition of Dasos Capital Oy (“Dasos”), an asset management company focusing on sustainable timberland investment, through a share exchange. CapMan has received all regulatory approvals for the acquisition and all other closing conditions have been fulfilled, and the acquisition has been completed today (the “Closing”).

The Board of Directors of CapMan has today resolved on a directed issue of new CapMan shares for the purposes of the payment of the consideration to the sellers of Dasos (the “Sellers”).

“I’m pleased to welcome Dasos as part of CapMan. The inclusion of sustainable timberland and natural capital investing positions CapMan as a leader in unlisted real asset strategies in the Nordics. Together, we can scale and expand Dasos’ existing offering and pursue growth opportunities in sustainable investment. Dasos will form the core of the new CapMan Natural Capital investment area, led by Dasos’ Senior Partner Olli Haltia, who will join CapMan’s Management Group. As we join forces, we create value for fund investors and shareholders and further CapMan’s vision of becoming the most responsible private assets company in the Nordics,” says Pia Kåll, CapMan’s CEO.

Directed issue of 17,672,761 new CapMan shares as consideration to the Sellers

The equity price for Dasos’ shares is paid in shares of CapMan by a directed share issue and a cash consideration of MEUR 3.2.  The Board of Directors resolved today on a directed issue of 17,672,761 new shares in CapMan for the Sellers (“Share Issue”) based on the authorisation given by the General Meeting on 18 January 2024. The subscription price per share, payable as contribution in kind, is EUR 2,0938 determined in accordance with the terms and conditions of the acquisition by the 30-day volume weighted average share price of CapMan prior to the signing of the acquisition. As the Share Issue is carried out to complete the acquisition, there is a weighty financial reason for directing the Share Issue. In addition, CapMan has committed to paying an additional earn-out consideration of a maximum EUR 5 million based on management fee turnover incurred in 2025 and 2026, payable when the management fees of the funds managed by Dasos exceed certain limits. The additional consideration will be paid later in 2026 and 2027 in CapMan’s shares.

The shares issued and subscribed for in the Share Issue represent in aggregate approximately a 10.0% ownership in CapMan after the registration the new shares. Following the Share Issue, the number of CapMan shares totals 176,522,148.  The share capital of CapMan is increased by EUR 37,003,226.98 in connection with the registration of the Share Issue.

The sellers that are actively participating in Dasos’ investment activities have committed to a 36-month transfer restriction starting from the Closing of the shares received from CapMan as consideration in connection with the Closing. The transfer restriction will be gradually lifted so that 90 per cent of these sellers’ shares will be subject to the transfer restriction at the time of the Closing and the amount will reduce annually so that the remaining 70% will be released after the third year. Shares used for paying the additional earn-out consideration are subject to a transfer restriction for a period of 12 months from their issuance. The sellers committed to the transfer restriction account for approximately 69.65% of the total purchase price.

Following the Closing, CapMan will hold 100% of the votes in Dasos. Sellers retain rights to the carried interest income of existing funds under Dasos by retaining certain non-voting shares in Dasos.

The new shares are intended to be registered at the Finnish Trade Register on or about 1 March 2024. Trading in the new shares on the official list of Nasdaq Helsinki Ltd is expected to commence on or about 4 March 2024.

CAPMAN PLC
Board of Directors

DISTRIBUTION
Nasdaq Helsinki
Principal media
www.capman.com

Contact details:
Pia Kåll, CEO, CapMan Plc, tel: +358 40 766 4446
Linda Tierala, Director, IR & Sustainability, CapMan Plc, tel: +358 40 571 7895, email: linda.tierala@capman.com

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, it has built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. EUR 5 billion in assets under its management, its objective is to provide attractive returns and innovative solutions to investors. An example of this are the greenhouse gas reduction targets that it has set under the Science Based Targets initiative in line with the 1.5°C scenario as well as a commitment to net zero GHG emissions by 2040. It has a broad presence in the unlisted market through its local and specialised teams. Its investment strategies cover minority and majority investments in portfolio companies and real estate, as well as infrastructure assets. It also provides wealth management solutions. Its service business includes procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. It has been listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

Categories: News