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Nordic Capital to invest in Dutch Equipe Zorgbedrijven in partnership with founders and management

Nordic Capital
  • Nordic Capital will further strengthen Equipe Zorgbedrijven’s successful concept of high-quality outpatient specialist care

  •  The investment will drive Equipe Zorgbedrijven’s international expansion and investments in digitalisation and innovation, benefitting both employees and clients

Nordic Capital, a leading global healthcare investor, has signed an agreement to invest in Equipe Zorgbedrijven (“Equipe” or “the Company”), a fast-growing private provider of outpatient healthcare in the Netherlands. The investment will be made in partnership with Equipe’s founders and management and aims to further strengthen the Company’s relentless focus on quality of care. It will also help Equipe to present its offer to a wider group of patients by providing further resources to accelerate growth by digitalisation and international expansion. Equipe’s current investors, the European investment company Gimv, will transfer its holding to Nordic Capital at the completion of the transaction.

Equipe is one of the leading providers of specialised care and outpatient clinics in the Netherlands. The Company was founded in 1995 and is active in hand and wrist surgery & therapy and aesthetic care, with a growing presence in orthopaedics, ophthalmology & general surgery. Equipe’s management has a strong focus on growing the Company in a sustainable way to deliver high-quality care, innovative treatments and high standards, which in turn allows for greater specialisation and additional sub-specialities.

“Nordic Capital is excited to support Equipe’s successful strategy in partnership with its strong management team and skilled employees. Nordic Capital will help Equipe to further accelerate growth by strengthening and expanding Equipe’s differentiated integrated high-quality care model and customer offering by investing in medical excellence and digitalisation initiatives,” says Philippe Neuschäfer, Partner, Nordic Capital Advisors.

Equipe has experienced strong development in recent years and has grown significantly in size. It currently has 6 large clinics (serving 87,000 patients in total in 2020) and over 20 outpatient centres in the Netherlands. In 2020, Equipe performed more than 110,000 treatments with over 700 employees, of which 130 are physicians.

“I’m very pleased to welcome Nordic Capital as our new partner. Together, we will focus on further developing Equipe’s strategic agenda in line with our emphasis on quality, patient care, operational excellence and our entrepreneurial DNA. Nordic Capital has extensive experience in successfully growing healthcare companies and is the ideal partner to help us reach more patients with our care offering” says Jak Dekker, CEO and Founder of Equipe Group.

“Equipe has an ambitious agenda, with quality and patient orientation at the forefront. I look forward to working together with Nordic Capital to further focus on a sustainable development and leverage on their operational knowledge, broad network and strong expertise,” says Joris van Eijck, CEO of Equipe Netherlands.

Nordic Capital is one of the most experienced healthcare investors with 30 investments across Europe and North America and over EUR 7 bn invested in the sector since its inception in 1989. The investment in Equipe lies at the heart of Nordic Capital’s healthcare investment strategy and focus on responsible investments and will be made as part of its mid-market strategy.

The transaction is subject to customary regulatory approvals. The terms of the transaction were not disclosed.

 

Media contacts:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

Equipe Zorgbedrijven
Marco van der Broeck, Marketing & Sales Manager
Tel. +31 636 408 763
e-mail: m.vanderbroeck@equipezorgbedrijven.nl

 

About Equipe Zorgbedrijven  

Equipe Zorgbedrijven was founded in 1995 and is one of the leading providers of specialist care in the Netherlands. In 2020, over 87,000 patients were treated at the 6 main locations (clinics) and over 20 outpatient clinics throughout the Netherlands. Equipe Zorgbedrijven includes Xpert Clinics (hand and wrist care, orthopaedics and proctology), Xpert Handtherapie, Velthuis kliniek (cosmetic treatments),CosMedic and Oogkliniek Heuvelrug (ophthalmology). In total, there are more than 700 employees, including 130 doctors, working at the aforementioned brands. Equipe Zorgbedrijven continually invests in its staff, clinics, facilities, IT infrastructure and e-Health applications with the ambition of offering the right care in the right place at the right price. Equipe Zorgbedrijven has been a pioneer in the field of entrepreneurship in healthcare in the Netherlands for years. For more information please see www.equipezorgbedrijven.nl.

 

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 17 billion in close to 120 investments. The most recent funds are Nordic Capital Fund X with EUR 6.1 billion in committed capital and Nordic Capital Evolution Fund with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com.

 

“Nordic Capital” refers to any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners and/or delegated portfolio manager of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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CONSORTIUM LED BY NPM DECLARES OFFER UNCONDITIONAL; 80.1% OF ICT GROUP SHARES TENDERED OR COMMITTED UNDER THE OFFER

NPM Capital

JOINT PRESS RELEASE

This is a joint press release by ICT Group N.V. (“ICT Group” or the “Company“), NPM Investments XI B.V. (the “Offeror“) (a wholly-owned subsidiary of NPM Capital N.V. (“NPM Capital“)) and Teslin Ipanema Acquisition B.V. (“Teslin Acquisition”) (a wholly-owned subsidiary of Teslin Participaties Coöperatief U.A. (“Teslin“), and together with NPM Capital the “Consortium“) pursuant to the provisions of Section 13, paragraphs 1 and 2, Section 16, paragraphs 1 and 2, and Section 17, paragraphs 1 and 3 of the Netherlands Decree on Public Takeover Bids (Besluit openbare biedingen Wft, the “Decree“) in connection with the recommended public offer made by the Offeror for all the issued and outstanding ordinary shares in the capital of ICT Group (the “Offer”). This announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities in ICT Group. The Offer has been made by means of the offer memorandum dated 27 May 2021 (the “Offer Memorandum“). This announcement is not for release, publication or distribution, in whole or in part, in or into, directly or indirectly, in any jurisdiction in which such release, publication or distribution would be unlawful. Terms not defined in this press release will have the meaning as set forth in the Offer Memorandum.

CONSORTIUM LED BY NPM DECLARES OFFER UNCONDITIONAL; 80.1% OF ICT GROUP SHARES TENDERED OR COMMITTED UNDER THE OFFER

Rotterdam/Amsterdam/Maarsbergen, the Netherlands, 26 July 2021

  • 80.1% of the Shares have been tendered or irrevocably committed under the Offer
  • All Offer Conditions are now satisfied
  • The Offeror declares the Offer for ICT Group unconditional
  • Settlement of the Offer will take place on 30 July 2021, at which date the Offer Price of EUR 14.90 adjusted to EUR 14.50 will be paid
  • Remaining Shares can be tendered during the Post-Acceptance Period, commencing on 27 July 2021 and ending on 9 August 2021

 

Offeror declares the Offer unconditional

ICT Group and the Offeror are pleased to jointly announce today that, considering all Offer Conditions having been satisfied, the Offeror declares the Offer unconditional (doet gestand). The number of Shares that have been tendered for acceptance or irrevocably committed under the Offer, is equal to 80.1% of the Shares.

As announced on 23 July 2021, during the Offer Period, that expired at 17:40 hours (CEST) on 23 July 2021, 7,549,314 Shares were tendered under the Offer, representing approximately 77.9% of the Shares and an aggregate value of approximately EUR 112.5 million.

Alychlo NV, holding 215,858 Shares (representing 2.2% of the Shares), has irrevocably committed to tender all Shares held by it (the Committed Shares) in the Post-Acceptance Period on the terms and conditions of the Offer, including the Offer Price of EUR 14.90 (cum dividend) in cash per Share, adjusted to EUR 14.50 (cum dividend) in cash per Share for the dividend of EUR 0.40 per Share. Alychlo NV did not receive any information relevant for a Shareholder in connection with the Offer that is not included in the Offer Memorandum or this press release. At the date of this press release, the Offeror on the one hand, and Alychlo NV on the other hand, do not hold shares in each other’s capital.

Together with the Committed Shares, a total of 7,765,172 Shares have now been tendered or irrevocably committed to be tendered under the Offer, representing 80.1% of the Shares and an aggregate value of approximately EUR 115.7 million (at an Offer Price of EUR 14.90 (cum dividend) in cash per Share, adjusted to EUR 14.50 (cum dividend) in cash per Share for the dividend of EUR 0.40 per Share).

As a result, all Offer Conditions described in the Offer Memorandum have now been satisfied, and the Offeror declares the Offer unconditional (doet gestand).

Settlement

With reference to the Offer Memorandum dated 27 May 2021, holders of Shares who accepted the Offer shall receive the Offer Price for each Tendered Share tendered during the Offer Period and transferred (geleverd) for acceptance pursuant to the Offer, under the terms and conditions of the Offer and subject to its restrictions.

Settlement of the Shares and payment of the Offer Price will take place on 30 July 2021. Following Settlement, the Offeror will hold (directly or indirectly) 7,549,314 Shares which together with the Committed Shares amounts to 7,765,172 Shares, representing 80.1% of the Shares.

Upon Settlement the changes to the composition of the Supervisory Board of ICT Group, as approved by the EGM on 9 July 2021, will become effective.

Post-Acceptance Period

The Offeror hereby announces that Shareholders who have not tendered their Shares during the Offer Period will have the opportunity to tender their Shares under the same terms and conditions applicable to the Offer, during the Post-Acceptance Period which will start at 09:00 (CEST) on 27 July 2021 and end at 17:40 (CEST) on 9 August 2021 (the Post-Acceptance Period).

The Offeror will publicly announce the results of the Post-Acceptance Period and the total number and total percentage of Shares held by it in accordance with Section 17, paragraph 4 of the Decree ultimately on the third Business Day following the last day of the Post-Acceptance Period.

The Offeror shall continue to accept for payment all Shares validly tendered (or defectively tendered provided that such defect has been waived by the Offeror) during the Post-Acceptance Period and shall pay for such Shares as soon as reasonably possible and in any case no later than on the fifth Business Day following the last day of the Post-Acceptance Period.

During the Post-Acceptance Period, Shareholders have no right to withdraw Shares from the Offer, regardless of whether their Shares have been validly tendered (or defectively tendered, provided that such defect has been waived by the Offeror) during the Offer Period or the Post-Acceptance Period.

Delisting

If, following the Settlement Date and the Post-Acceptance Period, the Offeror has acquired 95% or more of the Shares, it will together with ICT Group seek to procure delisting of the Shares from Euronext Amsterdam as soon as possible in accordance with Applicable Rules. This may adversely affect the liquidity and market value of any Shares not tendered. Reference is made to Section 6.12 (Consequences of the Offer for non-tendering Shareholders) of the Offer Memorandum.

Buy-Out

If, following the Settlement Date and the Post-Acceptance Period, the Offeror has acquired 95% or more of the Shares, the Offeror intends to initiate, as soon as possible, a Buy-Out procedure. Reference is made to Section 6.13(b) (Buy-Out) of the Offer Memorandum.

Merger and Liquidation

If, following the Settlement Date and the Post Acceptance Period, the Offeror holds less than 95% of the Shares, the Offeror may determine to have ICT Group implement the Merger and Liquidation as described in further detail in Section 6.13(c) (Merger and Liquidation) of the Offer Memorandum. The listing of the Shares on Euronext Amsterdam will also terminate after a successful Merger and Liquidation.

Further implications of the Offer being declared unconditional

Remaining Shareholders who do not wish to tender their Shares in the Post-Acceptance Period should carefully review the Sections of the Offer Memorandum that further explain the intentions of the Offeror, such as (but not limited to) Section 6.12 (Consequences of the Offer for non-tendering Shareholders), which describes certain implications to which such Shareholders may become subject with their continued shareholding in ICT Group.

Offer Memorandum, Position Statement and further information

This announcement contains selected, condensed information regarding the Offer and does not replace the Offer Memorandum and/or the Position Statement. The information in this announcement is not complete and additional information is contained in the Offer Memorandum and the Position Statement.

Digital copies of the Offer Memorandum are available on the website of the Offeror (www.npm-capital.com) and digital copies of the Offer Memorandum and Position Statement are available on the website of ICT Group (www.ictgroup.eu). Such websites do not constitute part of, and are not incorporated by reference into, the Offer Memorandum.

Copies of the Offer Memorandum and the Position Statement are on request also available free of charge from ICT Group and the Settlement Agent at the addresses below:

ICT Group:
ICT Group N.V.
Weena 788
3014 DA, Rotterdam
The Netherlands

The Settlement Agent:
Coöperatieve Rabobank U.A.
Croeslaan 18
3521 CB, Utrecht
The Netherlands

 

For more information, please contact:

Press enquiries ICT Group
Carla Stuifzand, marketing director
+31 (0)88 908 2000,
Email: investor.relations@ict.nl
Website www.ictgroup.eu                                                      

Press enquiries Consortium
Confidant Partners
Ward Snijders
+31 20 303 60 20,
Email: ward.snijders@confidantpartners.com

About ICT Group
ICT Group is a leading European industrial technology solutions provider. Our dedicated technical professionals offer our clients services in the field of consultancy, software development, project-based solutions and IT system maintenance. It is our mission to make the world a little smarter every day. Our specialist knowledge in a variety of industries enables us to realise innovative solutions by linking people, technologies and ideas. With around 1,500 dedicated technical specialists in the field, we are capable of building and integrating new and innovative technologies into relevant business solutions for our customers.

Our Industries solutions serve the automotive, manufacturing, high-tech, food, chemicals & pharma, oil & gas and logistics industries. Our Public & Infra solutions are focused on water, rail and road infrastructure as well as public transport and mobility. Across all industries ICT Group offers proprietary industry-specific software solutions, including its own cloud-based platform for IoT, digital transformation and artificial intelligence. ICT Group is listed on Euronext Amsterdam and has a presence in the Netherlands, Belgium, Bulgaria, France, Germany, Portugal and Sweden.

About NPM Capital
NPM Capital invests in mid-market companies in the Benelux and supports companies to enter the next growth phase in their development. NPM Capital, with SHV as its sole shareholder, has sufficient capital in order to apply a long investment horizon. Currently, NPM Capital has a portfolio of 26 participations (majority as well as minority holdings, including growth capital) and focuses on the following trends: Everything is Digital, Future of Energy, Feeding the World and Healthy Life. For more information, please visit: www.npm-capital.com.

About Teslin
Teslin is an investment fund managed by Teslin Capital Management. Teslin invests in promising small- and midcaps. Based on fundamental analysis Teslin selects companies active in attractive markets with a strong market position, healthy cash flow and a proper corporate governance structure. Teslin focuses on responsible value creation in the long term and acts as an active and involved shareholder. Teslin has been a long-term significant, active and committed shareholder of ICT Group since 2002 and is delighted to support ICT Group in accelerating and realizing its potential in the coming years, growing into a leading Northern-European industrial technology solutions provider. For more information, please visit: www.teslin.nl.

General restrictions
The information in this announcement is not intended to be complete. This announcement is for information purposes only and does not constitute an offer or an invitation to acquire or dispose of any securities or investment advice or an inducement to enter into investment activity. This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire the securities of ICT Group in any jurisdiction.

The distribution of this press release may, in some countries, be restricted by law or regulation. Accordingly, persons who come into possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable law, the Consortium, the Offeror and ICT Group disclaim any responsibility or liability for the violation of any such restrictions by any person. Any failure to comply with these restrictions may constitute a violation of the securities laws of that jurisdiction. Neither ICT Group, nor the Consortium, nor Offeror, nor any of their advisers assume any responsibility for any violation by any person of any of these restrictions. ICT Group shareholders in any doubt as to their position should consult an appropriate professional adviser without delay.

Forward-looking statements
This press release may include “forward-looking statements” such as statements relating to the impact of this transaction on the Offeror and ICT Group and language that indicates trends, such as “anticipated” and “expected”. These forward-looking statements speak only as of the date of this release. Although ICT Group and the Offeror believe that the assumptions upon which their respective financial information and their respective forward-looking statements are based are reasonable, they can give no assurance that these assumptions will prove to be correct. Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward looking statements. Potential risks and uncertainties include, but are not limited to, receipt of regulatory approvals without unexpected delays or conditions, the Offeror’s ability to achieve the anticipated results from the acquisition of the Company, the effects of competition (in particular the response to the transaction in the marketplace), economic conditions in the global markets in which the Offeror and the Company operate, and other factors that can be found in the Offeror’s and the Company’s press releases and public filings. Neither ICT Group nor the Consortium nor the Offeror, nor any of their advisers accept any responsibility for any financial information contained in this press release relating to the business or operations or results or financial condition of the other or their respective groups. Each of the Company, the Consortium and the Offeror expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

 

Notes to the press release

This is a public announcement by ICT Group N.V. pursuant to Section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).

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Gimv transfers stake in Equipe Zorgbedrijven – Dutch group of specialised care clinics – to Nordic Capital

GIMV
Topic: Divestment

Equipe Zorgbedrijven today announces an important step in its further (international) growth. Following the group’s successful development, based on its high-quality concept of specialist outpatient care, Gimv is transferring its stake in Equipe Zorgbedrijven to Nordic Capital. Together, the founders, management and the new shareholder will focus on international expansion, digitalisation and innovation.

In 2015 Gimv acquired an equity stake in Equipe Zorgbedrijven (Eindhoven – NL, www.equipezorgbedrijven.nl), a leading provider of specialist care through outpatient clinics in the Netherlands. Founded in 1995, the company is today the market leader in the Netherlands in hand and wrist surgery & therapy, has a strong position in aesthetic care and a growing presence in orthopaedics, ophthalmology & general surgery. In recent years, Equipe Zorgbedrijven’s management has focused on growing the company in a sustainable way to deliver high quality care, innovative treatments and improving standards. These in turn have opened the way to greater specialisation and additional sub-specialties, ultimately resulting in demonstrably better and meaningful care.

From the start, Equipe Zorgbedrijven has continuously invested in staff, care paths, clinics, facilities and an optimal IT infrastructure aimed at offering the right care in the right place at the right price. Creating sufficient critical mass, strengthening management and being at the forefront of developments and innovations have been essential here. During the years of Gimv’s shareholding, Equipe Zorgbedrijven has grown strongly in size and quality.

The company currently has 6 larger clinics and over 20 outpatient centres, with 700 employees, including 130 physicians, where more than 110,000 treatments were performed in 2020 in hand and wrist surgery & therapy, cosmetic surgery & dermatology, orthopaedics, ophthalmology and proctology.

The transaction announced today will strengthen the company’s relentless focus on quality care. Nordic Capital’s investment will help Equipe Zorgbedrijven to facilitate the roll-out of its successful concept abroad and to invest further in its organisation and digitalisation to become an even better partner for both patients and staff.

Jak Dekker, CEO and co-founder of Equipe Zorgbedrijven, explains: “With Gimv’s support, Equipe has been able to develop strongly in recent years. Through a number of targeted acquisitions we have taken our model for value-driven, integrated care provision to a higher level and expanded into multiple specialties. We have also invested in our network of clinics, our IT infrastructure and applications and have expanded our research activities. The partnership with Gimv has brought us to the point where we will be taking our first steps abroad. We are grateful to Gimv for this and look forward to working with Nordic Capital in realising our national and international ambitions.”

Elderd Land, Partner in Gimv’s Health & Care platform, on this growth story: “Gimv is proud to have been able to support Equipe Zorgbedrijven in its growth strategy where focus on quality and meaningful care has always been paramount. The company has developed strongly in recent years, growing both in size and quality. The result is a well-established player with a strong position in the Netherlands and now also great opportunities abroad. We thank the management of Equipe Zorgbedrijven for the successful and excellent cooperation and wish them – together with Nordic Capital – all the best in their further growth trajectory.”

The transaction is subject to customary conditions, including the approval of the healthcare and competition authorities. This transaction has a positive impact of about 1 euro per share on the net asset value of Gimv as of 31 March 2021. No further financial details will be disclosed.

Read the full press release:

English – French – Dutch
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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Ardian invests in Nova Reperta, a Brussels-based consultancy

Ardian

22 July 2021 Growth Belgium, Brussels

This investment marks Ardian Growth’s first deal in Belgium

Paris & Brussels, July 22nd, 2021 – Ardian, a world leading private investment house, today announces the acquisition of a stake in Nova Reperta, a Brussels-based management consultancy.

Nova Reperta was founded in 2011. In 2018 the company expanded its activity to create an office in Amsterdam, the Netherlands. Nova Reperta employs over 50 people, advising clients including Toyota Motor Europe, Le Pain Quotidien, Carglass, Dela, Visma|Raet en Lecot.

Nova Reperta is today a reference in company-wide change programs that include both back- and front-stage transformations. Nova Reperta realizes this by strengthening the operating model and value creation plans of its clients – often through combining operational excellence, client centricity, agility and digital acceleration.

With Ardian Growth’s support, the company will be able to accelerate its growth, expanding its services, organic market expansions and targeting strategic acquisitions across Europe. It will also allow Nova Reperta to strengthen its digital capabilities to serve the complex and evolving needs of clients across for example insurance, energy and mobility sectors.

Filip Leflot, Partner of Nova Reperta, commented: ”With the Ardian Growth team on board, we will be able to invest in our digital transformation and data analytics services as well as launch new unique services on the market. More specifically, it is an opportunity to bring into the capital of Nova Reperta a renowned international investor. Ardian, alongside our partners, will help us achieve our goal of becoming a leader and trusted business partner for future transformation journeys.”

Nick Dieltiens, Partner Automotive & Mobility Industry, Customer Experience Practice, added: “The capabilities of our talented and experienced team will ensure that we stay ahead of future market shifts and guarantee our approach remains resilient.”

Florian Dupont, Senior Investment Manager in Ardian Growth team, commented: “We have been impressed by the quality of the team. This investment aligns with our commitment to support ambitious and disruptive entrepreneurs. We want to leverage our expertise and network to implement organic growth as well an active buy-and-build strategy across Europe.”

Romain Chiudini, Managing Director in Ardian Growth team added: “After several investments in Italy and Spain, and growth in new geographies like Germany and Switzerland, we are very excited to now sign our first deal in Belgium with Nova Reperta. This investment confirms our position as a leading European strategic growth partner.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$112bn 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 750 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.

ABOUT NOVA REPERTA

Nova Reperta is a Brussels & Amsterdam based management consulting company founded in 2011. With a strong foundation in operational excellence, Nova Reperta specializes in both back- and front-stage transformations. It is today a reference in company-wide change programs, addressing the overall operating model and value creation plans of its clients – through client centricity, agility and digital acceleration.
Set up by a mix of seasoned consultants and managers sharing a strong entrepreneurial drive, Nova Reperta is now a team of about 50+ professionals obsessively focused on creating impact with our clients. That goal attracts ambitious, entrepreneurial people who naturally combine soft and hard skills. And that immediately evokes the five core values that tie us together: entrepreneurial, pragmatic, inclusive, trustworthy and always exploring.

Visit the website

LIST OF PARTIES INVOLVED

  • Nova Reperta

    • François Barbellion, François Delfosse, Filip Leflot, Carl Annicq, Nick Dieltiens, Eljakim Caus Ardian: Romain Chiudini, Florian Dupont

  • Ardian

    • Ardian Financial advisors: Crowe (Thomas Corbineau, Julien Latrubesse)
    • Ardian Legal advisors: Winston (Nicola Di Giovani, Sidney Rosenberg, Camille Clauss)
    • Company M&A advisors: VD&P (Laurent Linkens)
    • Company Legal advisors: Backer & McKenzie (Luc Meeus)
    • Senior Bankings: KBC (Guy Wyn, Bart Martens)

Press contacts

ARDIAN – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.com +44 207 3435 7469

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Gilde Equity Management new growth partner of Bruynzeel Storage Systems

Gilde Equity

Bruynzeel Storage Systems, the European market leader in mobile storage systems, has attracted Gilde Equity Management as new majority shareholder. With the new shareholder Bruynzeel will execute their growth strategy in various international markets. The transaction is made for an undisclosed consideration and will be concluded after approval by the antitrust authorities. Bruynzeel booked revenues of around € 60 million last year and aims to grow to more than € 100 million in 2026, partly as a result of the strong growing international demand for space creating solutions and by adding new innovative solutions to its product offering.

Next growth phase
Bruynzeel, with head office in the Netherlands, provides space creating storage solutions for the storage of a wide variety of objects. It helps organizations worldwide to use space in the most efficient, sustainable and effective way to preserve their valuable collections, documents and inventory. Gilde Equity Management and Bruynzeel both see strong demand for space creating solutions.

Alexander Collot d’Escury, CEO of Bruynzeel Storage Systems comments: “We are proud to be able to join forces with Gilde. They will help us to accelerate our growth and seize the enormous international market opportunities for space saving solutions. Gilde has an impressive track record in creating value with medium sized companies with strong market positions. We are very pleased that with this step, Bruynzeel Storage System is now, after more than 30 years, back in Dutch hands. I would like to thank our former shareholder Altor Equity Partners. They played an important role in establishing our position as European market leader in various segments.”

Pål Stampe, Partner at Altor Equity Partners and Chairman of Bruynzeel added: “We have had a long journey together, and seen a very positive development in recent years. Led by today’s strong management team, we believe that Gilde Equity Management is the right owner for the next growth phase.”

Bas Glas of Gilde Equity Management adds: “We are delighted to support Bruynzeel executing their already successful growth strategy. We are impressed with their strong performance this year. As an investor we recognize the growing importance of space creating storage solutions. We think our partnership represents an attractive opportunity given Bruynzeel’s superior technical knowledge and capacity for innovation. As European market leader in various international storage markets we will support them expanding their product platform and seizing the growth opportunities in Europe and abroad.”

Growth strategy
With the support of Gilde Bruynzeel will accelerate the execution of its international growth strategy by further gaining market share, growing through geographical expansion, by developing new promising segments and be leading in sustainability. Besides autonomous growth, acquisitions in key geographies and segments are part of the growth strategy. In February 2021, Bruynzeel acquired the American distributor RDT Concepts. This partnership gives Bruynzeel more commercial opportunities on the American market, which is the largest market in storage solutions in the world.

Growing number of segments
Bruynzeel Storage Systems is the market leader in the European market for intelligent and space saving storage systems in the archive, library and museum segment and is also growing rapidly in storage solutions in pharma, horticulture, industry, retail, urban farming and hospitals. In addition, many organisations are looking for ways to increase their inventory levels. Due to the current Covid-19 crisis and global supply chain disruptions, deliveries of crucial parts in many industries are delayed, often resulting in costly production losses.

About Gilde Equity Management
Gilde Equity Management (GEM) is an independent private equity firm with €1.5 billion in committed capital. With roots dating back to 1982, GEM is a leading investor in medium-sized companies and has helped many of them to realize international growth.

Examples of GEM investments include: Dunlop, a leading manufacturer of safety boots for industrial applications; Fruityline, a fast-growing producer of freshly squeezed premium fruit and vegetable juices and smoothies; Wasco, a technical wholesaler active in the area of heating, ventilation, air conditioning and sanitary facilities; Actief Interim, one of the biggest independent employment agencies in Benelux and Germany serving the SME sector; Eiffel, a consultancy firm with expertise in Legal, Finance and Process; and Kwantum & Leen Bakker, home-furnishing and decoration retailers in the Benelux..

For more information, go to: https://www.gembenelux.com/

About Bruynzeel Storage Systems
Bruynzeel Storage Systems is the market leader in the European market for intelligent and space saving storage systems in the archive, library and museum segments and is also growing rapidly in storage solutions in pharma, horticulture, industry, retail, urban farming and hospitals. Each Bruynzeel storage solution is designed and based on the client’s specific needs.

Bruynzeel Storage Systems was founded in 1953 as part of the Bruynzeel group that grew into bathrooms, doors, cabinets, kitchens, floors and pencils. Bruynzeel Storage Systems has been privatized since the 1980s. With its ‘best-in-class’ production process, it is able to realize storage systems with high-quality design and quality within the fastest production and delivery times.

In addition to its own offices in Europe and the United States, the company operates through an extensive network of distributors in Africa, the Middle East, Latin America, North America, Australia and Asia. All systems are produced in the factory in Panningen, the Netherlands. The company has more than 200 employees and often collaborates with architects and designers to design custom-made mobile and fixed storage systems for each application.

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Audax Private Equity Announces Majority Investment in Risk Intelligence Leader Flashpoint

Audax Private Equity (“Audax”) today announced that it has acquired a majority stake in Flashpoint, a global leader in actionable threat intelligence, to support its continued growth initiatives. Terms of the transaction were not disclosed.

Based in New York City, Flashpoint is a leading provider of actionable threat intelligence and intelligence automation for commercial and government customers. The Company’s core software-as-a-service (“SaaS”) offering, “Flashpoint Vision,” provides customers with access to timely, relevant, and actionable data that teams need to identify threats and mitigate the impact of cyberattacks, fraud, and physical damage. Flashpoint continues to expand its flagship offering, and recently added compromised credentials monitoring, card fraud monitoring, and domain protection to the platform.

“We are thrilled to have the backing of Audax and look forward to benefiting from their deep expertise within the broader software, technology, and business services sectors,” said Josh Lefkowitz, Chief Executive Officer of Flashpoint. “This partnership will enable us to continue investing in both Flashpoint Vision and in new tools to expand our capabilities and offerings to our global customer base, and allow us to help even more customers across the private and public sectors rapidly identify threats and mitigate critical security risks. We are confident that Audax’ support will help take us to the next level.”

“Now more than ever, organizations and companies of all sizes, industries, and geographies are seeking to implement leading, reliable cyber intelligence services to protect the data and stakeholders that matter most to them,” said Timothy Mack, Managing Director of Audax. “Flashpoint is at the forefront of this charge with what we consider to be a premier platform, and we believe there is significant opportunity to expand their services and capitalize on even further growth via organic and inorganic initiatives. Importantly, we are thrilled to partner with Flashpoint’s exceptional management team.”

AGC Partners acted as financial advisor and Lowenstein Sandler LLP served as legal counsel to Flashpoint. Ropes & Gray LLP served as legal counsel to Audax.

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Eight Roads Ventures Europe continues to back Spendesk

Eight Roads

Eight Roads Ventures Europe continues to back Spendesk, the leading all-in-one spend management platform for finance teams, participating in the €100 Series C funding round led by General Atlantic. Spendesk will focus on hiring top talent and accelerating product innovation to bring more automation and insights to every aspect of business spending.

Spendesk offers an intuitive SaaS spend management solution that provides full visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget. The platform combines payments, processes and data into one source of truth, with virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets. The solution aims to liberate finance teams from day-to-day admin tasks, freeing them to focus on proactive and strategic value-add.

“In the past few years we have built the reference spend management solution for finance teams in Europe, which frees businesses and their people from administrative constraints of spending and managing money at work. While our solution is about empowering finance teams, we are actually delivering value to the entire business through the finance team.” said Spendesk’s co-founder and CEO, Rodolphe Ardant.

Lucile Cornet, Partner at Eight Roads Ventures added, ““Not only is Spendesk emerging as a category leader in spend management but it has also built a fantastic team and culture on the way, which is essential!”

The new investment follows a strong year of growth as Spendesk doubled its revenue, despite adverse market conditions during the pandemic, and grew the team from 150 to 300 employees. Membership in Spendesk’s global finance community, CFO Connect, has doubled as well, now counting 6,500 members worldwide.

With the new funds, Spendesk plans to affirm its position as a leading spend management solution in Europe. This includes doubling headcount within the next two years, and accelerating product innovation, with Slack and Microsoft alumnus James Colgan having recently joined as Chief Product Officer.

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WorthPoint secures $12 million credit facility from Espresso Capital

espresso capital

Atlanta — July 20, 2021 — Espresso Capital and WorthPoint Corporation have announced today that Espresso has provided WorthPoint, the most comprehensive online resource for researching, valuing, buying and selling antiques, art and vintage collectibles, with a $12 million credit facility.

WorthPoint empowers the antiques and collectibles industry by providing a steady stream of new data and quality information to improve pricing transparency between buyers and sellers. The company will use the new funds to help further grow the business by investing in a number of marketing and product development initiatives.

“WorthPoint has been a bootstrapped company, and this is the first funding into the company from beyond a close circle of friends and family,” said WorthPoint Founder and CEO Will Seippel. “We were seeking a non-invasive and preferably non-dilutive funding source that understood our business and model and lent to our quickly compounding recurring cash flow. We are thrilled to partner with Espresso as we continue to scale our business. This credit facility will allow us to build on our success by making strategic investments to expand our addressable market, enhance our website to provide a better user experience and add new data partners to further expand our offerings.”

Those offerings include a price guide for researching and valuing antiques, art and collectibles, a resource gallery for identifying makers’ marks and a digital library of more than 3,400 books from leading publishers covering a wide range of collecting topics.

“WorthPoint has a seasoned team that has proven they can operate successfully in a variety of different market cycles,” said Espresso Capital Executive Director Steven Michau. “They address a market segment with considerable room for growth while having no direct competitors. We see tremendous upside for the company as it makes strategic investments in several key areas that will continue to drive growth.”

“Steve and the team at Espresso have been great to work with,” continued Seippel. “In addition to offering a favorable cost of capital that will help better position us for a potential equity round in the future, we were impressed with the care they took to get to know our business and the speed at which they were able to close the facility. The process was smooth and seamless from end to end.”

“The Espresso team understood the broad principles of our business better than anyone else we spoke with and we have already deployed and seen growth from their capital infusion,” noted Seippel.

About WorthPoint Corporation

WorthPoint manages the largest online resource for researching, valuing and preserving antiques, art and collectibles. The company’s suite of offerings on WorthPoint.com includes a Price Guide, a resource gallery for identifying maker’s marks, autographs, patterns, symbols (M.A.P.S.) and a digital Library with more than 3,400 books about collectible topics. Through data aggregated from online marketplaces, including eBay and leading auction houses, WorthPoint empowers the antiques and collectibles industry by providing a steady stream of new data each month, building on more than 567 million archived prices and nearly 1.3 billion images to improve pricing transparency for sellers and buyers. WorthPoint is headquartered in Atlanta, Ga., and has subscribers on six continents.

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 www.espressocapital.com.

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Audax Private Equity Announces Sector Expansion and Senior Hires

Audax Private Equity (“Audax”) today announced its expansion into the Financial Services sector. The segue into the Financial Services sector is a natural next step for Audax and will complement the firm’s historic focus on investments in Business Services, Consumer, Healthcare, Industrial Services & Technologies, and Software & Technology sectors. By combining Audax’ platform and established Buy & Build approach with the growing team’s experience and expertise, Audax is well-positioned to identify and invest in compelling opportunities in the Financial Services industry.

Audax’ focus in the Financial Services sector will target investments in business services, insurance services, financial technology, and wealth management, as the team looks to leverage its financial services expertise to capitalize on the rapid innovation in financial technology and other resilient, value-added sectors.

Audax is also pleased to welcome its four most recent Managing Director hires to the team. In welcoming these senior hires to the team, Audax continues to grow and enhance not only the investment team, but also the critical functions of business development and investor relations.

William “Bill” Allen joined Audax as a Managing Director focused on expanding Audax’ investment capabilities in the Financial Services sector. Mr. Allen was previously a Managing Director at The Carlyle Group and brings more than two decades of investment experience in the financial service sectors across asset and wealth management, business services, capital markets, community banking, financial technology, insurance services, and specialty finance. Mr. Allen received a B.A. from Middlebury College.

Matthew Cross joined Audax last year as a Managing Director focused on investor relations. Mr. Cross was previously a Principal in the Client and Product Solutions group at Apollo Global Management, where he was responsible for building relationships with institutional investors across North America. Prior to that, Mr. Cross was a member of the business development team at Providence Equity Partners and worked at State Street as a member of its private markets consulting team. Mr. Cross received a M.S. from Boston College and a B.A. from Boston University. Mr. Cross is a CFA Charterholder.

Megan Lundy joined Audax last year as a Managing Director focused on investor relations, based in San Francisco. Ms. Lundy was previously a Managing Director and Head of Investor Relations at Lindsay Goldberg, where she oversaw fundraising and investor relations. Prior to that, Ms. Lundy worked at DLJ Investment Partners on their investment team and at Barclays in the Global Communications and Media Investment Banking Group. Ms. Lundy received a B.A. from Columbia University.

Cory Mims joined Audax as a Managing Director focused on business development. Mr. Mims was previously a Managing Director at ICV Partners focused on transaction execution, portfolio value creation, and business development. Prior to that, Mr. Mims worked at TSG Capital Group as a Principal where he was actively involved in all aspects of deal execution, including industry research, operations and financial due diligence, and transaction structuring and financing. Mr. Mims began his career in investment banking at Salomon Brothers in New York and London. Mr. Mims received an MBA from Harvard Business School and a B.B.A. from Howard University.

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EQT Exeter Europe Logistics Value Fund IV closes at EUR 2.1 billion hard cap – fortifies commitment to logistics value-add investments across Europe

eqt
  • EQT Exeter Europe Logistics Value Fund IV closes at EUR 2.1 billion hard cap following strong support from existing and new international blue-chip investors
  • EQT Exeter Europe Logistics Value Fund IV will pursue a value-add strategy to acquire, develop, redevelop, lease, operate, and sell supply chain and e-commerce focused big box warehouse, last mile and light industrial properties serving major markets throughout Europe
  • The Fund is the first vehicle to close after the combination of EQT’s real estate business and Exeter Property Group, which was completed in April 2021

EQT is pleased to announce that the EQT Exeter Europe Logistics Value Fund IV (the “Fund”) has held its final close at its hard cap of EUR 2.1 billion in fee-paying assets under management. Demand from both existing and new investors was exceptional resulting in the Fund being significantly oversubscribed with commitments coming from a diversified group of high-quality investors across North America, Europe, Asia and the Middle East.

The Fund will pursue a value-add strategy to acquire, develop, redevelop, lease, operate and sell supply chain and e-commerce focused big box warehouse, last mile and light industrial properties serving major markets throughout Europe. EQT Exeter has employed similar value-add strategies throughout its series of US and European logistics value-add funds which have significantly outperformed the market. The senior management team of EQT Exeter focused on logistics has worked together for over 17 years, averages 22+ years of experience in the real estate industry and has demonstrated its ability to manage the full value chain of logistics real estate investments across numerous markets and through multiple growth, income, recessionary and recovery real estate market cycles.

The Fund benefits from EQT Exeter’s “local with locals” approach with 40 global offices (14 in Europe) and its vertically integrated team of 260+ real estate professionals (60+ in Europe) with deep expertise in acquisitions, dispositions, development, construction, leasing, asset and property management, finance, legal, compliance and accounting. EQT Exeter’s local presence enables a targeted selection of submarkets and properties, favorable cost basis due to one-off, small deal sourcing, and full ownership/control of assets. Furthermore, with over 1,200 global tenant relationships, the Fund will capitalize on EQT Exeter’s “tenant-centric” philosophy whereby customer demand, discussions with corporate executives and up-to-the-minute information from corporate heads of real estate and their tenant broker representatives will strongly influence the Fund’s investment and property operating decisions. Knowledge gained through EQT Exeter’s presence in the field and frequent communication with tenants is expected to allow the Fund to offer properties which provide the functionality and location that tenants most desire.

Ward Fitzgerald, Partner and Head of EQT Exeter, commented, “I would like to thank our repeat and new investors for their support of the latest flagship vehicle in EQT Exeter’s European logistics value-add fund series. The successful fundraise of EQT Exeter Europe Logistics Value Fund IV validates our proven 15+ year track record of value creation due to our locals with locals vertically integrated operating model. We look forward to working with our new colleagues at EQT to continue to outperform and provide strong returns to the Fund’s investors.”

Paul Rubincam, Partner and Co-Head of the EQT Exeter Europe Advisory Team, commented, “We are confident that given the strong pipeline and the team’s ability to utilize its leasing, tenant relationship, development and asset management skills to effectuate value-add outcomes, we will successfully advise on the deployment the Fund’s capital and delivery of its superior performance.”

Lennart Blecher, Head of Real Assets’ Advisory Teams, Deputy Managing Partner and Chairperson of EQT Exeter, commented, “The closing of the Fund marks an important milestone following the completion of the combination of EQT’s real estate business and Exeter. This represents not only a great fundraising by Ward and the Exeter team but also a concrete contribution to the scaling of our real estate platform which is a crucial part of EQT AB’s global growth strategy. EQT Exeter will be working closely together with the entire EQT platform across Europe and the Fund will be able to capitalize on thematic real estate investment opportunities in the market.”

EQT Exeter Europe Logistics Value Fund IV is backed by a highly regarded, international investor base including public and corporate pension funds, sovereign wealth funds, insurance companies, global asset management firms, commercial banks, endowments, foundations and family offices.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About EQT Exeter
EQT Exeter was created through the combination of EQT’s real estate business and Exeter Property Group in 2021. EQT Exeter is among the largest real estate investment managers in the world, focused on acquiring, developing and managing logistics/industrial, office, life science and residential properties. EQT Exeter applies a thematic investment strategy and value-creation approach.  With almost 40 regional offices and 260+ professionals across the Americas, Europe and Asia, EQT Exeter combines local execution with global scope to deliver superior real estate solutions to tenants while providing investors with some of the industry’s leading and most consistent returns across value-add and core-plus strategies.

More info: www.exeterpg.com

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