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Audax Private Equity Completes the Sale of Smart Care Equipment Solutions to Zone Climate Services

Audax Group

Audax Private Equity (“Audax”) today announced that it has completed the sale of Smart Care Equipment Solutions (“Smart Care” or the “Company”), a leading provider of commercial kitchen equipment maintenance services, to Zone Climate Services, a provider of mission-critical refrigeration and HVAC services that is backed by Wind Point Partners. Financial terms of the transaction were not disclosed.

Headquartered in Minneapolis / St. Paul, Minnesota, Smart Care helps some of the largest and most selective foodservice brands maximize revenue and deliver their brand promise by providing repair and maintenance services that help ensure their customers’ commercial kitchen equipment is operational. Working in partnership with Audax, the Smart Care team executed on Audax’ Buy & Build strategy, completing 14 add-on acquisitions, growing to over 1,400 employees, and completing over 350,000 service events annually.

Since partnering with Audax in November 2017, Smart Care delivered this transformational growth and value creation by:

  • Successfully carving out the business from a Fortune 250 company, which included establishing the new Smart Care brand, building essential functional teams, and adding capabilities required to help deliver on ambitious growth targets.
  • Transforming Smart Care into a strategic asset with significant investments in talent and a world class IT infrastructure, including proprietary reporting that enables customers to maximize uptime and reduce operating costs.
  • Leveraging investments in sales and innovation to drive organic growth.
  • Acquiring 14 service companies that strengthened Smart Care’s core service offering, while entering two adjacent markets to better serve customers.

Don Bramley, Managing Director at Audax, said, “We are proud of the business we built working with the Smart Care team. From the start, we were aligned on how we would execute our Buy & Build strategy to help create a company that would deliver value for Smart Care’s customers, associates, communities, and investors. We wish Bill Emory, Smart Care’s CEO, and the entire Smart Care organization continued success as they embark on their next chapter of growth.”

Bill Emory added, “My Team and I feel very fortunate to have had Audax as a partner over the past four years. They played a critical role in our success by providing unmatched operational expertise and deep business acumen where we needed them. In short, our success is a direct reflection of what Don and his Team brought to Smart Care and they share equally in our success. Looking forward, we are excited partner with Zone Climate Services to continue to execute on our growth strategy. As I move into a new role as Smart Care Equipment Solution’s Chairman, I am excited to work closely with Smart Care’s talented and new CEO, Henry Lees-Buckley, who will manage the combined organization.”

Harris Williams served as financial advisor and Ropes & Gray served as legal advisor to Audax Private Equity.

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InfraVia closes its new infrastructure fund at €5bn hard cap

InfraVia

InfraVia Capital Partners announced today that it has successfully closed its 5th infrastructure fund, InfraVia European Fund V, at its €5bn hard cap.

  • With the closing of InfraVia European Fund V, InfraVia reaches a total of €10bn in capital commitments
  • InfraVia European Fund V saw strong demand from investors globally and was oversubscribed reaching a €5bn hard cap
  • InfraVia is well placed to continue to deploy its strategy of investing for resilience and value creation
  • InfraVia supports European infrastructure businesses in their growth plans and creates more sustainable companies in the process
  • InfraVia focuses on 4 main areas: digital infrastructure, energy transition, social infrastructure and mobility

With the closing of InfraVia European Fund V, InfraVia has now raised a total of €10bn in commitments across a diversified LP base of over 150 investors from across the globe – Europe, North America, South America, Asia and the Middle East.

Demonstrating support for the asset class and recognition of the firm’s investment strategy and track record in value creation, InfraVia European Fund V saw strong demand from a wide variety of investors globally including insurance companies, pension funds as well as Family Offices and private banks. Despite the challenging Covid environment, the fund was significantly oversubscribed and exceeded its original €3bn target to reach a €5bn hard cap.

Vincent Levita, Founder and CEO of InfraVia declares: “We are extremely proud of this fundraising testament not only to the resilience of the asset class and the excellent track record of the team but also to the depth and strength of our relationships. Over half of commitments came from our existing client base, representing a 100% re-up rate, and we are also very proud to have been able to onboard so many new investors in such a challenging period. We are truly humbled by the continued support for our platform.”

InfraVia has delivered a solid track record in European infrastructure over the last 14 years focusing on digital infrastructure, energy transition, social infrastructure and mobility. Fund V will aim to continue to implement the same successful platform strategy as that of prior funds, focusing on European mid-market infrastructure assets that display resilient characteristics and present significant value creation potential. The fund will also continue to build on the team’s successful active asset management approach looking specifically at ESG, talent
management and digitalization to further drive value creation. InfraVia European Fund V is categorized as Article 8 under SFDR reflecting InfraVia’s longstanding approach of integrating sustainability throughout its investment process.

The fund has already been able to seize a number of investment opportunities closing its first investment – Grandir, a leading childcare and early education operator in September 2021. The fund has subsequently made two further investments in communications infrastructure, first announcing a JV with Liberty Global to develop FTTH in rural Germany in December and recently announcing a third investment in Ireland, Fibre Networks Ireland, that is expected to close in
Q2 2022.

Bruno Candès, Partner at InfraVia concludes: “Infrastructure has proven its resilience as an asset class and we expect it will play an increasingly important role in the post-covid economy. We continue to see significant opportunity to invest and with this new fund, we will continue to partner with infrastructure businesses to help them develop and grow, delivering long-term value for our investors as well as the economies in which they operate.”

InfraVia has been advised for this fundraising by First Avenue Partners (placement agent) and by Simmons & Simmons (legal).

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PRESS CONTACTS

INFRAVIA
Vincent LEVITA Founder and CEO
vlevita@infraviacapital.com
+33 (0)1 40 68 17 38

TADDEO
Antoine Denry
antoine.denry@taddeo.fr
+33 (0) 6 18 07 83 27

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Cinven completes acquisition of majority investment in Arcaplanet and Maxi Zoo Italia

Cinven

International private equity firm Cinven today announces that it has completed the acquisition of a majority stake in Arcaplanet, a leading operator of pet care stores in Italy.

Following the completion of this transaction, Cinven and the Fressnapf Group will combine Arcaplanet with Maxi Zoo to create the Arcaplanet Group.

Headquartered in Italy, Maxi Zoo Italia was founded in 2005. As part of the Fressnapf Group its first store opened in Treviso, Veneto region, in 2005 and Maxi Zoo is now present in 12 regions across Italy with 144 stores, an online presence and revenue of over 193 million euros in 2021.

Headquartered in Italy, Arcaplanet was founded in 1995. Its first store opened in Chiavari, Liguria, in 1998 and Arcaplanet is now present in 17 regions across Italy with nearly 400 stores, a strong online presence and revenue of over 400 million euros in 2021.

The combined Arcaplanet and Maxi Zoo Italia businesses (together the ‘Group’) will be offering food and non-food pet care products in c. 500 stores across Italy and online.

Cinven was attracted by the opportunity as Arcaplanet is a strong and well-recognised pet care brand with an excellent customer proposition. Cinven aims to accelerate the Group’s growth both in the Italian market and new geographies. Online penetration of pet care in Italy is fast-growing and there is considerable potential to accelerate and improve the Group’s digital and omnichannel strategy.

Cinven has significant expertise in the pet care market through the Cinven funds’ investment in Partner in Pet Food, a leading European pet food platform and market consolidator.

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Ardian launches Real Estate Debt strategy

Ardian

09 MARCH 2022 REAL ESTATE FRANCE, PARIS

The strategy deepens Ardian’s expertise and presence in European real estate.

Ardian, a world-leading private investment house, today announced the creation of a Real Estate Debt activity to manage funds and mandates related to finance pan-European real estate projects.

Ardian Real Estate Debt will be managed by Arnaud Chaléac, as Head of Ardian Real Assets Debt. With more than twenty years’ experience in finance, and Co-Head of Group Finance at Ardian since 2008, he has developed a strong expertise in structured financing. Arnaud Chaléac joined Ardian fourteen years ago after working with major French groups across the sector, including Air Liquide, Kering, and Crédit Agricole.

He will be supported in this new activity by Sandrine Amsili, Managing Director, who will develop the platform alongside him. Sandrine has 20 years’ experience in the real estate sector, including 17 years in real estate debt. Prior to joining Ardian in 2021, she held several management positions, including at Europhypo, CBRE Global investors, and most recently as Director of real estate debt at SCOR Investment Partners, where she helped create the company’s platform.

The Real Estate Debt activity will focus on senior debt and will seek to finance, alongside banks, in European real estate projects. All investments will have a strong ESG angle – in line with Ardian Real Estate’s wider strategy – to create spaces and places for more sustainable and decarbonized cities. This strategy complements Ardian’s Real Estate activity, which is led by Stéphanie Bensimon.

With significant experience in financing, the team has access to a broad and diversified internal platform that includes the entire Ardian network and all its resources. It will also draw on the expertise of Ardian local teams in France, Germany, Italy and Spain.

“Real estate is an important growth driver for Ardian. We have great ambitions so the launch of our new Real Estate Debt activity is a logical next step in our development. The team, led by Arnaud Chaléac with the support of Sandrine Amsili and our European network, combines in-depth knowledge of the sector with expertise in debt structuring. Our ambition is for Ardian to become a key player in real-estate debt management and I am confident in our ability to meet growing demand from investors to access projects that contribute to the real economy.” Dominique Senequier, Founder and President of Ardian

“With the creation of the real estate debt activity we will be able to support major real estate investors with project financing, especially as leading banks increasingly need alternative lenders like Ardian Real Estate Debt as partners. With a team of recognized experts, excellent market access and the confidence of financial partners, we are well positioned to offer our clients an attractive risk/return profile and contribute to the growth of the real estate debt market in Europe.” Arnaud Chaléac, Head of Ardian Real Assets Debt and Co-Head of Group Finance of Ardian

“Since 2016, Real Estate at Ardian has grown significantly. Equity investments through two generations of value added funds have enabled the deployment of more than €3.7 billion of real estate assets in major European capitals, with a balanced risk profile and excellent performance. This new real estate debt platform complements our offer and will help meet the needs of investors seeking a secure debt return with a major real estate focus. For the coming years, our real estate development ambitions remain strong across the different risk profiles offered by our real estate markets in Europe.” Stéphanie Bensimon, Head of Real Estate at Ardian

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$125 billion managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 850 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Secondaries, Direct Funds, Infrastructure, Real Estate and Private Debt.

https://www.ardian.com

PRESS CONTACT

ARDIAN

HEADLAND

ardian@headlandconsultancy.com

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Lake State Railway, a leading regional freight railroad, has received a strategic investment from Antin Infrastructure Partners

Antin

Lake State Railway is positioned for significant continued growth with Antin as its strategic partner

Lake State Railway Company (“LSRC”) and Antin Infrastructure Partners (“Antin”, Ticker: ANTIN – ISIN: FR0014005AL0) announced today that LSRC, a Michigan-based regional freight railroad with an impressive track record and runway for continued growth, has received a strategic investment from Antin, one of the world’s leading infrastructure investment firms.

LSRC, formed in 1992, is an approximately 375-mile rail freight network spanning the eastern corridor of Michigan’s Lower Peninsula. The company provides freight transportation, railcar storage, and transloading services. LSRC is a critical component of the North American transportation infrastructure supply chain. Through interconnections with multiple Class I rail partners, LSRC provides bidirectional rail access between Michigan and the broader U.S. and Canadian markets to a diverse set of over 60 customers across a range of durable end markets. In 2021, the company moved over 60,000 carloads. LSRC is a vital contributor to the State of Michigan, one of the fastest growing state economies in the U.S. and one of the largest manufacturing centers in North America. In addition, LSRC’s rail service provides an environmentally friendly shipping option for customers, as freight rail is significantly more fuel efficient than over-the-road alternatives.

The company’s current management team, which has been in place for nearly a decade and will continue to lead the business, has overseen substantial capital investments into the LSRC rail network and, as a result, strong growth in both customer additions and increased traffic. Through the strength of its 135 employees and the leadership of its management team, LSRC was selected as 2018 Short Line of the Year and 2021 Regional Railroad of the Year by Railway Age.

John Rickoff, President and CEO, LSRC, commented: “We welcome Antin as a long-term strategic partner to support our continued growth plans and vision for the future of LSRC. We look forward to working with Antin to grow our customer base and expand our rail network.”

Kevin Genieser, Senior Partner, Antin, stated: “We are excited to partner with LSRC’s management team for the company’s next chapter of growth. Our investment in LSRC is another major milestone for Antin’s franchise in North America, representing our fourth U.S. investment.”

Hamza Fassi-Fehri, Partner, Antin, added: “LSRC builds upon Antin’s global track record of investing in the transportation sector. LSRC’s commitment to customer service and safety, and its consistent network investment has positioned the business to take advantage of attractive market fundamentals and environmental attributes. We look forward to working with LSRC’s management team to further accelerate its growth.”

LSRC was advised by Northborne Partners (financial advisor) and Honigman LLP (legal counsel).

Antin was advised by BMO Capital Markets (financial advisor) and Gibson, Dunn & Crutcher LLP (legal counsel).

About Lake State Railway

Lake State Railway Company is a Michigan-based progressive regional railroad that has been providing “Excellence in Transportation” since 1992. LSRC’s approximately 375 operating miles of track run from Plymouth through its headquarters in Saginaw, up to Bay City, Gaylord and Alpena. Lines also run to Midland and Paines.

About Antin Infrastructure Partners

Antin Infrastructure Partners is a leading private equity firm focused on infrastructure. With over €22bn in Assets under Management across its Flagship, Mid Cap and NextGen investment strategies, Antin targets investments in the energy and environment, telecom, transport and social infrastructure sectors. Based in Paris, London, New York, Singapore and Luxembourg, Antin employs over 165 professionals dedicated to growing, improving and transforming infrastructure businesses while delivering long-term value to investors and portfolio companies. Majority owned by its partners, Antin is listed on compartment A of the regulated market of Euronext Paris (Ticker: ANTIN – ISIN: FR0014005AL0).

 

Media Contacts

Antin Infrastructure Partners

Nicolle Graugnard, Communication Director

Email: nicolle.graugnard@antin-ip.com

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InfraVia has reached an agreement with a Macquarie Asset Management led consortium to sell Reden Solar

InfraVia

InfraVia, has reached, alongside its partner Eurazeo, an agreement with Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, to sell Reden Solar, a leading European independent solar power producer.

Reden Solar, currently owned by InfraVia (53%) and Eurazeo (47%), is active across eight countries, with more than 750 MW in operation and a sizable maturing pipeline.

This transaction is based on a €2.5bn Enterprise Value.

Since InfraVia’s acquisition in 2017, Reden Solar has developed its asset base, including platform management, structuring and expansion through a combination of organic and external growth. Capitalizing on our long-standing experience in the sector, Reden Solar’s seasoned management team has increased the group’s capacity by 8x and its EBITDA by more than 4x over the past five years. The group has also extended its footprint across Southern Europe, bolstering its market positions.

The completion of this transaction remains subject to regulatory and antitrust approvals.

Vincent Levita, Founder and CEO of InfraVia said:
« We have been extremely pleased to accompany Reden Solar during this development phase. This success proves our strategy right based on a strong sector conviction on renewable energy, an excellent management team and a disciplined buy-and-build approach. We have provided the group with a comprehensive set of resources that have paved the way for Reden Solar’s transformation into a fully integrated platform and a leading European independent solar power producer. The group is now focused on large and stable high growth markets, with a strong track-record and a sizable pipeline. We are convinced that this Macquarie led consortium will continue the development of Reden Solar with the management team. »

Our advisors on this transaction are Citigroup and Nomura (M&A); Weil, Gotshal & Manges (legal advisors); E&Y (financial advisors); Baringa (commercial); Rina and Enertis (technical).

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Pembina and KKR agree to merge Western Canadian processing assets

KKR

Combines three complementary platforms to create a premier western Canadian processing entity   

  • New joint venture to be operated, managed and majority owned by Pembina 

CALGARY, ALBERTA, March 1, 2022 – Pembina Pipeline Corporation (“Pembina”) (TSX: PPL; NYSE: PBA) and KKR today announced the signing of definitive agreements to combine their respective western Canadian natural gas processing assets into a single, new joint venture entity (“Newco”), which will be owned 60 percent by Pembina and 40 percent by KKR’s global infrastructure funds. The transaction brings together three complementary platforms to create a premier western Canadian processing entity with the ability to serve customers throughout the Montney and Duvernay trends from north central Alberta to northeast British Columbia.

Included in the transaction are Pembina’s wholly owned field-based natural gas processing assets, Veresen Midstream which is jointly owned by Pembina and funds managed by KKR, and Energy Transfer Canada (“ETC”) which is jointly owned by Energy Transfer and funds managed by KKR. Newco has entered into an agreement to acquire Energy Transfer’s interest in ETC, which is expected to be completed concurrently with the closing of the other transactions. Collectively, the ascribed value of these transactions totals approximately C$11.4 billion, excluding the value of assets under construction.

The transaction establishes meaningful alignment between Pembina and KKR and positions the joint venture to realize significant efficiencies and economies of scale. Newco will be managed and operated by Pembina, and will be led by Chris Rousch, current President and CEO of Veresen Midstream.

“We have developed a great, trusted relationship with Scott Burrows, Jaret Sprott and the industry-leading team at Pembina and we are thrilled to be deepening that partnership with today’s strategic combination,” said Brandon Freiman, Partner and Head of North American Infrastructure at KKR. “Importantly, we share Pembina’s views on the positive and essential role that Canadian natural gas plays within the global energy transition and we are pleased to combine these assets to create a stronger platform to meet that opportunity.”

With the support of Pembina and KKR, Newco will integrate Environmental, Social and Governance (“ESG”) considerations into its governance structure and long-term business strategy. Newco assets will be included in Pembina’s target of achieving a 30 percent reduction in greenhouse gas emissions intensity by 2030, against a 2019 baseline. Pembina’s policies and management systems related to environmental protection; health and safety; diversity, equity and inclusion; cybersecurity; Indigenous and community relations; and other ESG matters will be extended to include Newco’s assets not currently managed by Pembina.

“Pembina has enjoyed a strong relationship with KKR as a partner in Veresen Midstream over the past four years. The formation of this new joint venture is a natural extension of our relationship,” said Scott Burrows, Pembina’s President and CEO. “We are extremely pleased to be creating this exciting new company with KKR to drive real synergies and deliver a wider suite of commercial opportunities.”

Paul Workman, Director at KKR, added, “The industrial logic of combining these three complementary businesses in a fully-aligned partnership is compelling. We believe that a well-capitalized, customer-oriented private partnership between KKR and one of Canada’s leading infrastructure companies is incredibly well positioned to create value for our investors, customers and the communities in which we operate.”

Completion of the transactions is subject to approval under the Competition Act (Canada) and other customary closing conditions. Closing is expected to occur late in the second quarter or third quarter of 2022. Newco’s permanent name is expected to be announced prior to closing.

RBC Capital Markets is acting as financial advisor and Blake, Cassels & Graydon LLP is acting as legal advisor to Pembina. TD Securities is acting as financial advisor and Torys LLP is acting as legal advisor to KKR.

# # #

 

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 and on Twitter @KKR_Co.

 

Media Contact

Cara Major or Miles Radcliffe-Trenner

(212) 750-8300

media@kkr.com

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KKR completes acquisition of leading software provider YAYOI

KKR

TOKYO–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the completion of KKR’s acquisition of Yayoi Co., Ltd. (“Yayoi”), a software developer, distributor, and support service provider for small- and medium-sized enterprises (“SMEs”) in Japan, from ORIX Corporation. All regulatory approvals have been obtained.

Yayoi is the largest financial and accounting software provider for SMEs and sole proprietors in Japan, best known for its namesake accounting and tax filing software that is widely used by Japanese SMEs. According to MM Research Institute and BCN Inc., the Yayoi Series has been Japan’s number-one cloud accounting software for six consecutive years by number of users, and the number-one desktop business software for 22 consecutive years, with over 2.5 million registered users. In Japan, Yayoi plays a leading role in assisting SMEs as they adopt greater digital solutions into their operations and migrate more functions to the cloud.

Eiji Yatagawa, a Partner on KKR’s Private Equity team, said, “Upon closing this deal, we look forward to working closely with the Yayoi team to help them further build their business. This comes at an important time when Japanese companies are looking to digitally transform their businesses, and we look to draw on KKR’s global experience and best practices to help Yayoi become a leader in offering thoughtful solutions.”

KKR is making its investment from its Asia IV Fund.

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 and on Twitter @KKR_Co.

KKR Media Contacts

Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Wei Jun Ong
+65 6922 5813
WeiJun.Ong@kkr.com

Source: KKR

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Better quality of care in outpatient rehabilitation: Gimv portfolio company rehaneo acquires Reha Vita

Topic: Investment

The Munich-based rehaneo Group, one of Germany’s leading providers of outpatient rehabilitation, is integrating Reha Vita in Cottbus, Brandenburg’s largest outpatient rehabilitation centre. In doing so, rehaneo is continuing its consistent growth trajectory and doing everything that it can to ensure that more people can access professional rehabilitation measures close to where they live. Since its foundation mid-2020, the company has been supported by the investment firm Gimv, which recognizes the increasing importance of top-quality outpatient service provision for rehabilitation and has helped to shape the strategy from the very beginning.

rehaneo (www.rehaneo.de) is a rapidly growing provider of outpatient rehabilitation, aftercare, prevention and occupational health management in Germany. Around 18 months ago, Gimv and rehaneo’s managing partner Bruno Crone launched the company as a buy-and-build project with the goal of developing a leading network offering patients access to top-quality, local outpatient care. In doing so, rehaneo is addressing a fragmented growth market as more and more patients want to live at home during their rehabilitation. This improves patients’ quality of life, while the costs of outpatient rehabilitation are also around 40% lower than for inpatient care – for the same quality or even better quality – thereby reducing the burden on the payers.

“rehaneo offers rehabilitation centres a strong partner and an orderly succession opportunity. In addition to our professional competence, we are also placing an emphasis on appreciation and clear values. It is for example important to us to maintain and strengthen the unique character of our rehabilitation centres”, explains Crone. Based on this philosophy, rehaneo was able to win the rehabilitation centre Hunsrück and insa health management still in the founding year 2020. In 2021, the group was able to add rehabilitation centres in Koblenz, Bonn and Göttingen. The recently completed sixth acquisition Reha Vita in Cottbus, has developed from a small physiotherapy practice into a rehabilitation centre with more than 140 employees. In total, the rehaneo group today has more than 600 employees that care for a total of around 30,000 patients and customers a year and support them on their path to a rapid recovery.

Group strategy bears fruit

“From the very beginning, we were enthusiastic about the vision of establishing a leading quality provider in outpatient rehabilitation and we are proud of what has been achieved in such a short period of time”, notes Philipp v. Hammerstein, Partner and the manager responsible for Gimv’s health & care activities in Europe’s German-speaking regions. “We are delighted to be able to actively support rehaneo’s management team with our expertise as an investor specializing in healthcare”, adds Lars Timmer, Principal at Gimv. rehaneo’s strong positioning will be further expanded through additional acquisitions as well as the targeted development of existing rehabilitation centres and the establishment of new ones. The trusting collaboration between Gimv and the management team is a decisive component here. “From day one, we were convinced that Gimv is perfectly suited to us. It has proven to be an agile, hands-on partner with an unparalleled knowledge of the market”, confirms Crone.

Already today, rehaneo sets itself apart through excellent scores in terms of quality and patient satisfaction, advanced digitization with an innovative patient app, a clear commitment to ESG criteria and, not least, a high level of employee satisfaction. “We specifically search for successful, well-established outpatient rehabilitation centres and remedy providers that share our values and recognise the advantages of working together as a larger group”, explains Bruno Crone. “Whether in negotiations with suppliers, through group-wide economies of scale and synergy effects or in terms of further training and education, a group can achieve much more than a standalone centre.”

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ISAI expansion and Keensight Capital sell their stake in Theodo

Isai

ISAI Expansion, the ISAI platform’s Tech Growth and Growth Buyout fund and Keensight Capital, one of the leading private equity managers dedicated to pan-European growth buyout investments, announced today their successful exit from M33, the holding company of the Theodo Group (“the Group”). Theodo’s two founding directors, Benoît Charles-Lavauzelle and Fabrice Bernhard, will be increasing their stake in the Group.

Launched in 2009, the Theodo Group and its 10 specialized enterprises support their clients in their digital transformation using the best technologies and a methodology inspired by lean and agile. Combining speed with high quality, the Group supports large international groups such as Total, Carrefour and BNP Paribas, as well as prestigious, fast-growing enterprises such as Qonto, Cajoo, Made.com and sunday.

Through the active support of its shareholders, the Group has achieved considerable success in recent years, marked by substantial growth, international expansion, team development and the creation of new expertise through internal projects and external growth.

Since the investment of Keensight Capital and ISAI Expansion in March 2018, the Group’s turnover has grown by an average of 30% per year, reaching €64 million in 2021.

In recent years, the Group has developed new expertise with the launch of subsidiaries specialized in Cloud solutions. This includes Padok in 2018, and in 2021, eHealth with Hokla and in Serverless with Aleios. These enterprises complement the Group’s expertise in: web development through Theodo, Theodo UK and Theodo US; mobile through BAM; data and AI through Sicara; and fintech through Sipios.

The Group now benefits from a strong service offering across 10 verticals based in Paris, London, and New York, as well as in Morocco where the Group acquired in 2019 Nimble Ways, a digital solutions and artificial intelligence consulting company. Spanning across three continents, the Group has also expanded locally with the opening of two new offices in Lyon and Nantes in 2021.

Benoît Charles-Lavauzelle and Fabrice Bernhard, Founders and Managing Directors of the Group, said: “We have been fortunate in recent years to have worked with such exceptional partners as Keensight Capital and ISAI. Their involvement and experience have allowed us to achieve our ambitious objectives in terms of growth, expansion in France and abroad, strengthening our team and attracting talent.”

Philippe Crochet, Managing Partner at Keensight Capital, added: “We are delighted to have been able to support Benoît and Fabrice at an important stage in their Group’s development. Thanks to a differentiated service offering with cutting edge technology, an ability to attract new highly qualified talent and – above all – thanks to its two visionary leaders, the Theodo Group is a success and has a very bright future. The Keensight Capital team is proud to have contributed its expertise in the tech sector and its experience in profitable growth strategies.”

Pierre Martini, Managing Partner at ISAI and Head of the Expansion Funds, concluded: “We are very proud of how far we have come working with Benoît and Fabrice. The Group has succeeded in maintaining its DNA and unique values, while simultaneously scaling up considerably. It has continued to attract the talent that will enable it to continue its exceptional growth trajectory in an ever more dynamic market.

About the Theodo Group
The Theodo Group is a consulting and implementation firm in digital technologies. With over 500 employees in Paris, Nantes, Lyon, London, New York and Casablanca, the Theodo Group supports large groups such as BNP Paribas, Carrefour and LVMH, as well as established enterprises such as Qonto, Cajoo and MADE.com.
Founded in 2009 by Benoît Charles-Lavauzelle and Fabrice Bernhard, the Theodo Group today brings together 10 enterprises that all work on creating digital solutions for businesses: Theodo, Theodo UK and Theodo US, Nimble Ways in Morocco for web development, BAM for mobile, Sicara for Big Data and AI, Sipios for fintech, Padok for DevOps, Hokla for health tech and Aleios for Serverless. In 2021, the Theodo Group achieved €64 million in revenue, 50 times more than in 2012.
https://www.m33.tech/ https://www.theodo.fr

Press contacts:
Theodo Group Agathe Lélu – agathel@theodo.fr – + 336 84 15 35 58
Sources Chloé Rossignol – chloe@sources.agency – +336 23 08 11 90

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