Archives

Monika Vnuk and Matt Lane join Blackstone Life Sciences as Managing Directors

Blackstone

Cambridge, MA – October 13, 2021 – Blackstone Life Sciences (“BXLS”), Blackstone’s life sciences business, announced today that Dr. Monika Vnuk and Matt Lane have joined BXLS as Managing Directors in the firm’s Cambridge office. Dr. Vnuk joins from Pfizer, where she served as Vice President of Worldwide Business Development, having recently led Pfizer’s partnership with BioNTech for their COVID-19 vaccine. Mr. Lane joins with more than 20 years of experience in advising life sciences companies, including more than 15 years at Cowen Group, a leading life sciences focused investment bank.

Dr. Nicholas Galakatos, Global Head of Blackstone Life Sciences said: “We are excited to welcome Monika and Matt to the team. Their collective expertise in complex deal structuring, and their networks in the biopharmaceutical sector will help us expand our investment activities as we seek to advance important medicines to patients.”

Before joining Blackstone Life Sciences, Dr. Vnuk spent nearly 15 years in leadership roles at Pfizer, including most recently as Vice President of Worldwide Business Development. In that role she led the negotiation of the successful partnership with BioNTech directed at the global co-development and distribution of COVID-19 vaccines. Before joining Pfizer, Dr. Vnuk worked in investment banking at Bank of America and at Oxford Bioscience Partners, a life sciences venture capital firm. Dr. Vnuk holds an MD degree from the Boston University School of Medicine and a B.A. from Boston University.

Prior to joining Blackstone Life Sciences, Mr. Lane was a Managing Director at Gilmartin Group LLC, a strategic advisory firm. Before joining Gilmartin, Mr. Lane spent more than 15 years with Cowen Group as a Managing Director where he focused on supporting life sciences companies at all stages of their development. Before working in finance, Mr. Lane served as Press Secretary to US Senator Judd Gregg. He received a B.A. from Amherst College.

In July 2020, BXLS raised the largest private life sciences fund to date and currently has more than $7 billion in assets under management.

About Blackstone Life Sciences
Blackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines and medical technologies that improve patients’ lives. More information is provided at https://www.blackstone.com/our-businesses/life-sciences/.

Contact
Paula Chirhart
+1-347-463-5453
paula.chirhart@blackstone.com

Categories: People

Global Processing Services raises over US$300 million to accelerate technology development and global growth

Advent International
  • Global API-first payment technology platform powers the world’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy
  • Investment from Advent International and Viking Global Investors provides deep payments and fintech experience and capital; follows strategic investment by Visa in 2020
  • Company intends to use investment to accelerate technology investments in product innovation and to continue the expansion of its customer base in 48 countries today across Europe, Asia-Pacific, and the Middle East

LONDON, October 13, 2021 – Global Processing Services (“GPS”), the leading global payment technology platform, today announced it has raised over US$300 million from Advent International (“Advent”) and Viking Global Investors (“Viking”), who will co-control the company. The investment by Advent will be funded through Advent Tech and Sunley House Capital, an affiliate of Advent.

GPS’ API-first payment technology platform enables innovative card programmes for the world’s leading fintechs, digital challenger banks and embedded finance providers. Its platform has helped scale multiple unicorns and powers a vast array of prominent fintechs across Europe, Asia-Pacific, and the Middle East, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. Through a single unified code base, GPS enables its customers and partners to launch and scale card programmes across 48 countries, supported by integrations with over 95 issuers. To date, it has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions on its cloud-based platform.

“GPS provides key payments technology infrastructure, enabling the global fintech revolution. Their agile, resilient and modern cloud platform drives some of the most innovative use cases and allows fintechs to globalise through a single API,” commented Peter James, Director at Advent International.

“Through their customer-centric innovation, GPS has quietly established a leading position in key markets around the world with an attractive, diversified and global customer base. Together with Viking, we look forward to supporting GPS’ leadership team to expand the business’s product offering and accelerate its international reach.”

“We are delighted to partner with Advent and Viking, with their deep experience and track record in payments and fintech, and, who share our bold vision for the next generation of global payments,” said Joanne Dewar, Chief Executive Officer at GPS.

“GPS has been at the heart of the global fintech explosion, simplifying access to the global rails of the new digital payments era. This investment will allow us to turbo charge our geographic footprint and product expansion plans as we drive the payments ecosystem in the key verticals of today and tomorrow, including digital banking, Buy Now Pay Later, B2B virtual cards, financial empowerment, and much more.”

Advent has a strong track record in the growth of businesses across the payment and software industries, including a recent investment in Planet, the global integrated payments leader, and Dock, the Latin American financial technology infrastructure provider where Advent’s affiliate, Sunley House Capital, co-invested alongside Viking. Worldwide since 2008, Advent has invested ~US$5 billion across 12 payments platform companies.

Viking has a long history investing in payments and software, across both the private and public markets. Viking is investing in GPS out of its private equity vehicles, which currently manage over $17 billion. Recent payments investments include Dock, the Latin American financial technology infrastructure provider where it co-invested alongside Advent, and Clip, the Mexican digital payments and commerce platform.

The transaction will be subject to customary closing conditions.

About Global Processing Services

Global Processing Services (GPS) is the trusted and proven go-to payments processing partner for today’s leading fintechs, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. GPS has to-date issued over 190 million physical and virtual cards, enabled in over 48 countries, and last year processed over 1.3 billion transactions on its API-first cloud-based platform.

GPS’ highly flexible and configurable platform places the control firmly in the hands of global fintechs, digital banks, and embedded finance providers, enabling them to deliver rich functionality to the cardholder. It is a multi-award-winning issuer processor powering next generation payment segments, including expense management, B2B payments, crypto, lending and credit (including Buy Now Pay Later propositions), digital banking, FX, remittance, open banking and more.

GPS is certified by Visa and Mastercard to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore, Sydney and Dubai. Its platform is equipped to meet the stringent standards required by Tier 1 banks, integrating with 95 issuer partners and operates programmes for a client base across the globe.

Company highlights from the last two years include:

  • Expansion into Asia-Pacific through establishing a new regional centre of excellence in Singapore alongside a hub in Sydney, with a fast-growing customer base including WeLab Bank, the first homegrown virtual bank in Hong Kong, and Paidy, the largest Buy Now Pay Later player in Japan.
  • Secured strategic investment from Visa, a long-term partner of GPS, and established a new regional centre of excellence in United Arab Emirates (UAE) having been selected as one of its preferred issuer processors in Asia-Pacific and the MENA region.

Website: www.globalprocessing.com
LinkedIn: https://www.linkedin.com/company/global-processing-services/

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 380 private equity investments across 42 countries, and as of June 30, 2021, had €68 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 245 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit:

Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

About Viking Global Investors LP

Founded in 1999, Viking is a global investment management firm that manages approximately $48 billion of capital for its investors. It has offices in Greenwich, New York, Hong Kong, London, and San Francisco and is registered as an investment adviser with the U.S. Securities and Exchange Commission.

For more information, please visit: www.vikingglobal.com

Categories: News

Tags:

Bolster acquires a majority stake in Public Search

Bolster

Bolster Investment Partners acquires a majority stake in Public Search. For over 13 years, Public Search has been the leading intermediary between finance professionals and organizations in the public domain. By obtaining a majority stake, Bolster will support Public Search in realizing its strong growth ambitions. The acquisition marks the first investment from the recently launched Bolster Investments II fund.

“A small organization but large within its niche.” When it comes to the mediation of highly sought-after finance professionals, Public Search is the market leader in the healthcare and education segment. Additionally, with the support of Bolster Investment Partners, Public Search will further expand its position in the local government segment. The company does this by offering interim services for freelancers, secondment services for their project consultants and recruitment services. Its mission is to be the standard of financial experts in the public sector. Public Search serves approximately 250 unique clients, including leading clients as the Municipality of Utrecht, Erasmus University Rotterdam and Amsterdam UMC.

Public Search was founded in 2008 by Wilco Kosters and Cengiz Çetintas. The company has been growing by approximately 20% per year and expects over €23 million revenue in 2021. The organization currently consists of 80 project consultants and 130 freelancers. Additionally, the organization has a carefully selected network of more than 1,000 freelancers, with whom they work on a regular base. To stimulate and boost the development of their employees, Public Search offers tailored (inhouse) training and development programs via the Public Search Academy, including the opportunity to participate in certain postgraduate programs as Register Controller or Certified Public Controller.

With Bolster as a partner, the successful strategy of Public Search will be continued and complemented with various growth and professionalization initiatives. Over the past few years Wilco and Cengiz have been transferring their responsibilities to the wider organization, making the sale to Bolster a logical next step. Alongside Bolster, a significant part of the employees invest in the company, highlighting the dedication and commitment of the team.

Mark van Rijn, partner Bolster Investment Partners: “We are very happy that Public Search has chosen Bolster as its long-term partner. Public Search is a real peoples business that highly values its employees. By focusing on quality and specific profiles, a dominant market position has been built in the limited-cyclical market segments that the company has selected. We look forward to further developing and growing the organization together.”

Wilco Kosters, DGA Public Search: “We are proud of what we have built together over all those years and where Public Search currently stands. The transfer of our knowledge and responsibilities has been conducted with the greatest care. In addition to the personal connection, we have a lot of confidence in the team of Bolster and their long-term investment focus. We leave a healthy and talented organization behind us and are confident that, together with all the employees, the success story will be continued.”

For more information, please contact:
Bolster Investment Partners
Mark van Rijn: +31 6 2060 1305


About Public Search
Public Search, located in Hilversum, is the leading intermediary between finance professionals and organizations within the healthcare, education and local government sector since 2008. Public Search offers interim, secondment and recruitment services. Its mission is to become the standard of business controllers in the public sector.

About Bolster investment Partners
Bolster Investment Partners is a long-term investor specialized in minority interests. Bolster invests in exceptional Dutch companies with a keen focus and a proven business model. Bolster helps entrepreneurs realize their company’s full potential. By acting as equal partners to make the difference.

The Bolster Investment Partners team spun off in 2017 from Van Lanschot Kempen NV, where it was running Van Lanschot Participaties since 1982. Bolster’s three partners have been working together for more than ten years. The Bolster team has further developed into a committed and attuned team of twelve professionals. Bolster has a proven track record; since 1982, we have successfully collaborated with more than 100 companies.

Categories: News

Tags:

CapMan Buyout exits Bright Group to global event technology provider NEP Group

Capman

CapMan Buyout press release
12 October 2021 3:30 p.m. EEST

CapMan Buyout exits Bright Group to global event technology provider NEP Group

Funds managed by CapMan Buyout have entered into a definitive agreement to sell the subsidiaries of Bright Group Oy, a 360 supplier of live events services in Northern Europe including audio, video and lighting solutions, trucking, stages, infrastructure/installations and camera production to global event technology provider NEP Group and its Live Events company in Northern Europe, Creative Technology Northern Europe AB.

Bright Group was established in 2011 when CapMan acquired Finnish Eastway and Norwegian AVAB-CAC to form a leading player for the event and entertainment services business in the Nordics. Since then, more than 20 live event companies in Northern Europe have joined Bright Group – many of which have over 30 years of experience in the industry. Today, Bright Group employs teams across its locations in Finland, Norway and Sweden.

“What started as a small local entrepreneur-driven specialist, has grown into a pan-Nordic organisation both organically and through acquisitions. Bright Group is a preferred event partner for many companies, industries and venues that choose to outsource the technical competence to a market leader. I would like to extend my warmest gratitude to Bright Group’s management and professional staff for excellent co-operation over these years. We are pleased with a new home for the company as the story continues on a larger and more international scale – the future looks very bright indeed,” says Anders Björkell, Partner at CapMan Buyout.

“This acquisition will be great for our clients in Northern Europe and globally,” said Graham Andrews, Global President, NEP Live Events. “Adding Bright Group’s resources to NEP’s and our Creative Technology division gives us the ability to offer the ‘best of the best’ in innovative solutions, talent and resources. It’s also a great cultural fit. We have a great deal of respect for Bright Group’s work and their people.”

“As the Nordic forerunner, Bright Group has plenty to offer on an international scale. Our skilled professionals have decades worth of experience, and we are passionate in what we do. In the future, we can create unique events for even wider audiences”, said Jarno Uusitalo, CEO of Bright Finland.

The transaction is conditional upon the approval of the Norwegian Competition Authority and is expected to close during October–November 2021. Prior to closing, Creative Technology Northern Europe and Bright Group will continue to operate as separate and independent companies. Terms of the deal were not disclosed.

For more information, please contact:

Anders Björkell, Partner, CapMan Buyout, tel. +358 40 5377 566

Jarno Uusitalo, CEO Bright Finland, tel. +358 50 305 8569

To learn more about NEP’s full range of broadcast, live event and media solutions, visit www.nepgroup.com and www.ct-group.com. To learn more about Bright Group, visist www.brightgroup.com/.

About CapMan

CapMan Buyout is part of CapMan Group, a leading Nordic private asset expert with an active approach to value-creation in its portfolio companies and assets, with assets under management of over €4 billion. CapMan has a broad presence in the unlisted market through our local and specialised teams. The investment strategies cover Private Equity, Real Estate and Infra. CapMan also has a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

Categories: News

Tags:

Ardian acquires Adamo, representing its first investment in the telecommunications sector in Spain

Ardian

11 OCTOBER 2021 INFRASTRUCTURE SPAIN, MADRID

Ardian Infrastructure reaches an agreement with EQT to buy 100% of the fibre optic operator Adamo, with more than 1.8 million homes covered by its network.
Ardian reinforces its interest in Spain as a strategic market and will support Adamo’s management team to boost the growth of its project, focused on rural areas with low internet penetration.

Madrid, 11 October 2021- Ardian, a world leading private investment house, has agreed to acquire its first investment in the telecommunications sector in Spain. Ardian will acquire from EQT 100% of Adamo, one of the fastest growing fibre optic operators and platforms in this market, focused on rural areas and supported by an open access wholesale business model.
Ardian will work alongside Adamo’s management team, who will reinvest in Adamo, to continue to drive its ambitious growth plan.
Adamo has an existing footprint of c.1.8m homes covered, serving c.250k subscribers over 27 provinces across Spain. Together with Ardian’s support, Adamo will continue to drive the development of its project with the organic expansion of its network and analyzing opportunities for the acquisition of new networks. Adamo aims to reach 3.2m homes and expands its backbone network to more than 11,000 kms in the coming years. Its strategy is to deploy its network in rural areas where there is virtually no high-speed internet access, contributing with its services to bridge the digital gap.
Adamo has its own coverage in more than fourteen autonomous communities in Spain and also provides connectivity services through its FTTH network to four of the main operators in the country and to more than 160 local operators.
Juan Angoitia, co-head of Ardian Infrastructure in Europe, said: “We are very pleased to be able to announce our first investment in the telecommunications sector in Spain. The Spanish market remains very attractive for us. Our focus will now be on working together with the Adamo team to create value for the company and all its stakeholders, while at the same time helping to address the serious problems that rural areas in Spain face and boosting their economic and social development.”
Martin Czermin, CEO of Adamo, has highlighted the fit that Ardian has with the company’s project: “We are proud to incorporate a partner like Ardian that brings a great experience in the sector, a deep knowledge of the market and a great sensitivity towards our contribution to society. Their support comes at a key moment to be able to continue driving Adamo’s growth both organically and inorganically.”
Ardian Infrastructure strategy with this operation will be to provide the most efficient telecommunications service throughout the national territory, and in particular in rural areas that currently do not have high-speed Internet, thus providing these areas with an element for their development.
The telecommunications sector is a priority in the strategy of Ardian Infrastructure which, through the funds it manages, has a 30.2% controlling stake in INWIT, Italy’s leading tower operator, and a 26% stake in EWE, one of Germany’s largest utilities and a leading provider of telecommunications services.
The closing of the transaction is subject to the satisfaction of customary regulatory and other approvals.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn 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 800 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: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT ADAMO

Adamo is the fastest growing and #1 open access rural FTTH platform in Spain with a unique nationwide footprint covering 1.8 million homes and providing fixed broadband and mobile services to approximately 250,000 retail and wholesale subscribers. Adamo has a highly dedicated customer focus and provides high-quality and high-capacity services at competitive prices. The Company currently employs over 300 people and is headquartered in Barcelona, Spain.

www.adamo.es

PRESS CONTACTS

ARDIAN

HEADLAND VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk+44 207 3435 7469

Categories: News

Tags:

Acquisition Lieverdink

Anders Invest

Anders Invest Groeiplatform, part of the industry fund, realized a 100% participation in Lieverdink from Doetinchem on 7 October 2021.

The company manufactures parquet floors and is the market leader in the Netherlands in the field of tapestry floors. Lieverdink employs approximately 25 permanent employees. It is Anders Invest’s 24th participation in its industry fund.

Lieverdink, a family business founded in 1986 in the Achterhoek, produces high-quality traditional parquet floors. Strips, herringbone motifs and patterned floors are produced from more than 30 types of wood.

In addition to traditional parquet, Lieverdink has developed its own line of two-layer parquet (Q2) specifically for use in combination with floor heating. In Doetinchem, the company has several production lines where the parquet is machined from raw planks.

The company is a benchmark in the parquet industry and counts more than 800 parquet fitters among its clientele. This ensures that Lieverdink is able to realize a stable turnover with good results.

The shares in Lieverdink have been taken over from the current owners, Gerben and Eric Lieverdink. The parquet factory was founded by their parents and they have been involved in the company from an early age.

Gerben and Eric will remain associated with the Parketfabriek as directors for the foreseeable future. With them continuity is guaranteed and Anders Invest sees an attractive growth perspective due to the strong developments in the housing sector and opportunities in the field of internationalization.

Categories: News

Tags:

Brabant Groep acquires Euroblast

Brabant Groep from Oosterhout, part of the Industriefonds of Anders Invest, has acquired the shares of Euroblast N.V. from Belgium.

Brabant Groep focuses on corrosion prevention projects for various sectors such as tank construction, steel construction, petrochemicals, civil engineering, utility construction, shipbuilding and energy. Euroblast is located near the port of Antwerp and specializes in blasting and preserving steel plates for shipbuilding, tank construction, offshore applications and industry and works for Belgian, European and intercontinental customers.

With the acquisition of Euroblast, Brabant Groep obtains greater geographical coverage and can serve its customers more widely. In addition, synergies can be achieved through more efficient business operations, improved use of the various locations and the sharing of logistics, facilities and work processes. Euroblast will continue to operate under its own name.

This is the second expansion for Brabant Groep this year. In June, a merger between the Brabant Group entity Straco Heerenveen and Staal Technische Centrum Noord-Nederland (STC) was realised. Straco Heerenveen is active in the field of wet painting and powder coating. STC is active in blasting and wet coating applications. In time, the facilities will be expanded with a new aluminum coating line.

Categories: News

Tags:

3i European Operational Projects Fund agrees to invest in NEoT Green Mobility

3I

3i Group plc (“3i”) announces that the 3i European Operational Projects Fund (“3i EOPF” or “the Fund”) has agreed to invest c.€30m in NEoT Green Mobility (“NGM”) to fund its pipeline of future projects. 3i EOPF is investing alongside Mirova and will join existing shareholders EDF and Banque des Territoires. Following this transaction, the Fund is c.70% committed.

NGM offers turnkey zero-emission transportation leasing and services solutions to public authorities and transport operators.  NGM owns and leases assets such as electric buses and electric coaches, batteries for use in electric vehicles, and electric vehicle charging infrastructure. Today, NGM has over €40m assets under management, under mid- to long-term contracts, mainly in France and the UK, and aims to expand across Western and Northern Europe.

Stephane Grandguillaume, Partner at 3i in charge of origination for the Fund, commented: “This is an attractive opportunity for 3i EOPF to invest in the green mobility sector in Europe. NGM’s projects play a central role in the energy transition. We believe its pipeline will grow rapidly as the roll-out of electric buses and coaches accelerates.”

3i EOPF, which is managed by 3i’s infrastructure team, is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia.  It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities.  It aims to provide long-term yield to institutional investors.

 

Download this press release  

 

– Ends –

 

For further information, contact:

3i Group plc
Thomas Fodor
Limited Partner enquiries		 Tel: +44 20 7975 3469
Email: thomas.fodor@3i.com
Kathryn van der Kroft
Media enquiries		 Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Silvia Santoro
Shareholder enquiries		 Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com

 

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About 3i’s Infrastructure business

3i is a leading infrastructure investor, with a track record of investing in infrastructure since 1987. The team of over 35 investment professionals manages or advises c.£4.9 billion of assets through a number of infrastructure investment vehicles, including 3i Infrastructure plc, 3i EOPF, 3i MIA, BIIF and 3i India Infrastructure Fund.

 

Heuliez_Bus_GX_Linium_n°429_de_Cannes new.jpg

Categories: News

Tags:

MAP Health Management powers growth with $14 million credit facility from Espresso Capital

espresso capital

Austin, Texas — October 7, 2021 — Espresso Capital announced today that it has provided MAP Health Management, LLC with a $14 million credit facility. MAP will use the funds to scale its business and help fuel its M&A strategy. MAP’s integrated platform is designed to improve outcomes for patients being treated for addictions and other behavioral health illnesses, and delivers a broad range of telehealth services including virtual peer support, psychiatric care, and therapeutic care for patients and their family members. MAP has extensive partnerships with leading health plans across the country that represent over 67 million total covered lives.

“There’s an unprecedented need for substance abuse and behavioral health treatment in the United States right now,” said MAP Health Founder and Chief Executive Officer, Jacob Levenson. “We’re excited to use Espresso’s funding to execute our growth strategy so that we can further expand our offerings, provide our patients with the comprehensive services they need, and ultimately keep them engaged across the entire care continuum.”

Levenson founded MAP Health in 2011 and has more than 20 years of experience in the addiction treatment space. The Levenson family has also been active in the addiction treatment space for three decades, having helped to treat over 100,000 people through their involvement in various organizations.

“We’ve been extremely impressed with Jacob and his management team,” said Espresso Executive Director, Steven Michau. “Their deep experience and expertise are proving invaluable as they work to bring innovative care solutions to people who need them. We believe they are well positioned to become a leading provider in this very important sector of the healthcare system.”

“The Espresso facility has given us the capital we need to maximize our strategic flexibility as we consider various growth strategies, including additional M&A opportunities,” said Levenson. “Steve and the team have been great to work with. Not only did they take the time to truly understand our business in a way that most lenders don’t, they’ve been highly responsive and have run a great process.”

About MAP Health Management, LLC

From its inception in 2011, MAP’s mission has been to improve outcomes for the millions of people annually diagnosed and treated for addiction and other behavioral health conditions. MAP delivers a proprietary long-term support model through deploying tech-enabled peer support and medical and psychiatric professional services – all designed to improve personal connection, community health, and healthcare outcomes. For more information, visit https://www.thisismap.com.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.

Categories: News

Main Capital Partners completes €1.2 billion double fundraise

Main Capital Partners

The Hague, 6 October 2021 – Main Capital Partners (“Main”), a leading European software investor, is pleased to announce the successful completion of capital raises for two new funds, raising €1.21 billion in total. Following the launch of Main Capital VII and Main Foundation I, Main’s total assets under management (“AUM”) have more than doubled to approximately €2.2 billion. Main will deploy these funds to further grow and develop strong European software groups in multiple market segments, targeting local buy-and-build strategies as well as cross-border growth.

Charly Zwemstra, Chief Executive Officer of Main Capital, commented: “We aim to play a key role in the consolidation of the fragmented software market by building leading European software groups, executing strong, fit for purpose business models that drive sustainable growth.”

Source: Main Capital Partners

In terms of recent track record, Main has completed 75 software acquisitions in the Benelux and DACH regions as well as across the Nordics over the past 5 years, proving the scalability and achievability of its market leading strategic approach. Main has been the most active software specific investor for these geographies in this period, according to private equity database Preqin.

Autonomous growth combined with local and cross-border buy-and-build

Main currently manages a portfolio of 29 software groups, covering a wide range of differentiated markets. Strategically, Main combines organic growth with local and cross-border acquisitions.

German RegTech company cleversoft is a good example of the cross-border approach in Main’s portfolio. This company provides Governance, Risk and Compliance (“GRC”) software and has strengthened its leading position in the European GRC-software market with several acquisitions in the Benelux region.

Furthermore, Assessio, an HR-software and AI company, based in Sweden, has claimed a strong foothold in the Dutch market through multiple acquisitions including, HFM Talent Index. Main is also well known for its strong local buy-and-build strategies, as demonstrated by platforms such as King Software (financial software) and SDB Group (healthcare software) in the Netherlands, FOCONIS (RegTech) and MACH AG (GovTech) in Germany as well as Pointsharp (security software) in Sweden.

Significant growth for Main Capital funds
Main Capital VI, the previous flagship fund, closed in 2019 at a €564 million hard-cap. Its successor announced today, Main Capital VII has closed at a hard-cap of €1 billion, while the new fund initiative Main Foundation I has closed, in tandem, at its hard-cap of €210 million. As a result of strong interest from both existing relationships as well as the new investors entering the Main structure, both funds were significantly oversubscribed with €1.21 billion at the first and final closing, after a fundraising period of less than four months. The combined target size was initially set at €1 billion.

The pre-existing investor base accounts for more than 60% of the committed capital allocated for the new funds. The other capital secured comes via new relationships with reputable institutions such as pension funds, asset managers, family offices and high-net-worth individuals. According to independent data sources, the financial growth and returns to the investors of Main’s previous funds are consistently among the best in the industry.

With Main Capital VII, Main will continue its existing strategy of building profitable and developed enterprise software groups, through both organic growth and the effective execution of buy-and-build strategies. With its new fund initiative Main Foundation I, Main will target fast-growing enterprise software companies looking for a strategic and financial partner. This new fund is meant for smaller but profitable, high-growth companies operating with strong, modern technology platforms.

About Main Capital Partners
Main Capital Partners is a strategic investor with an exclusive focus on enterprise software companies. Main has almost 20 years of experience in building strong software groups in the Benelux, the DACH-region and the Nordics. Main specialises in helping management teams within mature and growing software companies achieve sustainable growth by working closely together as a strategic partner. Main has a workforce of 45 employees working from offices in The Hague, Stockholm and Düsseldorf, offering support on a strategic and a pragmatic level. In total, Main has acquired or invested in more than 100 software companies to date and has realised 17 strategic scenarios for divestment of software groups. As of October 2021, Main Capital has approximately €2.2 billion assets under management and currently manages a portfolio of 29 platform companies, creating employment for approximately 4,000 people.

 

Categories: News

Tags: