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CapMan Real Estate announces strategic promotions and new role to bolster Nordic asset management

Capman

CapMan Real Estate announces strategic promotions and new role to bolster Nordic asset management

CapMan Real Estate makes key organisational enhancements including the introduction of a new leadership role to streamline Nordic asset management operations and support continued expansion.

Over recent five years, CapMan Real Estate has experienced substantial growth, with gross asset value under management surging by over €1 billion, reaching approximately €4.4 billion. The pan-Nordic team has also seen significant growth, now comprising nearly 80 professionals. To ensure smooth and efficient operations that support future growth, the company has made key organisational enhancements.

Effective 1 June 2024, Juhani Erke steps into the role of Chief Asset Management Officer (CAMO), overseeing asset management operations across the Nordic region. A CapMan team member since 2005, Erke will continue to serve on the CapMan Real Estate investment committee alongside CEO Mika Matikainen, CIO Torsten Bjerregaard, and COO Ilkka Tomperi. Erke’s extensive background in asset management and his long tenure as Head of Finland made him a perfect fit for this new position.

“CapMan Real Estate’s commitment to a fully vertically integrated business model, complete with an in-house asset management team, has been a cornerstone of our operations. The current expansion necessitates enhanced coordination of asset management activities across the Nordics. I am eager to collaborate with our local teams to foster a more streamlined asset management framework,” stated Erke.

With Erke’s transition to CAMO, Aleksi Konsti will assume the roles of Deputy Head of Finland and Head of Transactions, Finland, starting 1 October 2024. Erke will maintain his position as Head of Finland during the interim period.

Concurrently, CapMan Real Estate has promoted Investment Directors Marcus Lotzman and Hasse Wulff to the newly established positions of Head of Transactions Sweden and Head of Transactions Denmark, respectively, starting 1 June 2024. Their extensive experience and tenure at CapMan are invaluable assets to their new roles.

Magnus Berglund and Peter Gill will continue as Head of Sweden and Norway and Head of Denmark, respectively. Additionally, Anna Rannisto has been promoted to Sustainability Director, effective 1 April 2024. Under her capable leadership, CapMan Real Estate has made significant strides in establishing its sustainability objectives and effectively implementing its strategic plan.

“These strategic appointments and our recent talent acquisitions are instrumental in sustaining our growth trajectory. They enhance our ability to leverage the collective expertise of our Nordic team, fostering greater knowledge exchange and collaboration across CapMan Real Estate’s offices,” added Ilkka Tomperi, COO of CapMan Real Estate.

For further information, please contact:

Ilkka Tomperi, COO, CapMan Real Estate, +358 50 379 1903

Juhani Erke, CAMO and Head of CapMan Real Estate Finland, +358 50 549 5104

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

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Actylis Announces Appointment of Scott Thomson as Chief Executive Officer

New Mountain Capital

Company Continues Expansion of Integrated Global Specialty Ingredients Manufacturing and Sourcing Strategy

PORT WASHINGTON and NEW YORK, NY [BUSINESS WIRE] – Actylis, a leading global manufacturer and sourcing expert of critical materials and performance ingredients for the life sciences and specialty chemicals markets, today announced the appointment of Scott Thomson as Chief Executive Officer. Scott has a three-decade track record in the pharmaceutical and chemical industries, most recently as CEO of SPI Pharma, a leading global provider of pharmaceutical ingredients, systems and services, where he helped lead the sustainable improvement of its strategic development and execution. Prior to SPI Pharma, Scott was a senior executive at BASF and was responsible for several global life science and specialty ingredients businesses.

“Scott has an impressive tenure of driving long-term growth, and we look forward to welcoming Scott as we bring our client-centric, flexible customer service model and extensive product offerings to an increasing number of geographies, customers and applications,” said Rakesh Sachdev, Chairman of Actylis. “We also want to thank Gilles Cottier for his leadership as CEO of Actylis over the last five years and wish him well in his retirement.”

Joe Walker, Managing Director at New Mountain Capital, said, “Since New Mountain’s investment in 2019, Actylis has transformed into a leading manufacturer and distributor of key ingredients in pharma, biopharma, nutritional, agri-science, cosmetics and specialty chemicals markets, completing seven acquisitions and substantially expanding the company’s global reach. We are excited for Scott to leverage and accelerate Actylis’ strong growth trajectory with increasing emphasis on high growth end markets and products.”

Andre Moura, Managing Director at New Mountain Capital, added, “Actylis has tremendous runway for sustainable growth due to its strong value proposition and market positioning. We are thrilled to invest further and support Scott and the management team to realize the company’s long-term strategic vision.”

Actylis offers standard and custom ingredients through a rapidly growing portfolio of GMP and non-GMP facilities worldwide, as well as through the company’s strong sourcing partner network. Actylis’ hybrid manufacturing and global sourcing model for ingredients and raw materials delivers the most flexible and reliable solutions for its customers’ unique manufacturing requirements, supported by industry-leading standards of quality documentation and regulatory compliance.

Scott Thomson, CEO of Actylis, commented, “I feel privileged to lead the Actylis team at this exciting juncture, and I look forward to partnering with our customers, Actylis’ management and employees, and New Mountain to grow and further develop Actylis’ offerings. There is significant opportunity to accelerate the company’s growth and I look forward to building upon the company’s achievements to date both organically and inorganically.”

About Actylis

Actylis is a leading global manufacturer and sourcing expert of critical materials and performance ingredients for the life sciences and specialty chemicals markets. Actylis has a presence in 10 countries spanning three continents and offers more than 4,000 products supported by over 800 employees. Actylis has more than 75 years of manufacturing and sourcing experience across both GMP and non-GMP facilities and offers customers the flexibility to choose from a wide range of individualized solutions, all backed by the same world-class quality, supply chain reliability and regulatory expertise. Its capabilities encompass the entire R&D, product development and manufacturing spectrum, including technical sales support, R&D, manufacturing and production, quality, supply chain, global sourcing, and regulatory compliance. Actylis serves pharmaceutical, biopharmaceutical, nutritional, cosmetics, agri-science and specialty chemical end markets. The company is headquartered in Port Washington, New York. https://actylis.com/

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $50 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.

Media Contact:

Actylis

Paul Staunton

pstaunton@actylis.com

New Mountain Capital

Dana Gorman

H/Advisors Abernathy

dana.gorman@h-advisors.global

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Ardian enters into revised agreement with Ferrovial to acquire a 22.6% stake in Heathrow

Ardian

This statement should be read in conjunction with Ferrovial’s statements issued November 28th 20231 , January 16th 20242  and June 14th 2024, and by Ardian on November 29th 20233.

Ardian, a world-leading private investment house, today announces that it has entered into a revised agreement to acquire a c. 22.6% stake in FGP Topco Ltd. (TopCo), the holding company of Heathrow Airport Holdings Ltd., from Ferrovial S.E. and certain other TopCo shareholders.

In November 2023, Ardian announced that it had entered into an agreement to acquire 15% of TopCo from Ferrovial.  In January 2024, certain shareholders of TopCo (the Tagging Shareholders) elected to exercise their tag along rights in respect of shares representing 35% of the share capital of TopCo.

The parties have been working towards satisfaction of the condition for the sale of the Tagged Shares to be sold alongside Ferrovial’s shares.  Following constructive discussions, Ardian has entered into a revised agreement to acquire c. 22.6% of TopCo from Ferrovial and certain of the Tagging Shareholders (together, the Sellers).  Under the terms of the revised agreement, infrastructure funds managed and advised by Ardian will acquire c. 22.6% while Saudi Arabia’s Public Investment Fund will acquire c. 15.0% of TopCo concurrently from the Sellers, through separate vehicles.  Each of the Sellers will sell a pro rata portion of their shares prior to the transaction and remain as continuing shareholders of TopCo.  Following completion of the transaction, the Sellers will retain shares representing 10.0% of the issued share capital of TopCo, in the same pro rata proportions.

Ardian is pleased to have worked closely with the parties to find this revised agreement and reiterates its strong commitment to investing the UK.

Ardian actively supports its assets to accelerate their transformation by leveraging data and new technologies to reduce emissions, creating new, more sustainable revenue sources, becoming more independent and resilient to external shocks, and improving their impact on both local and global environments. Through Ardian AirCarbon, an in-house pioneering solution that supports airports in their sustainability strategy towards net-zero by monitoring their carbon emissions and running simulations on decarbonization trajectories, Ardian aims to accelerate the decarbonization of the whole sector.

The transaction is subject to complying with right of first offer and full tag-along rights which may be exercised by the other TopCo shareholders pursuant to the Shareholders’ Agreement and the Articles of Association of TopCo. In addition, completion of the acquisition under the agreement is subject to the satisfaction of applicable regulatory conditions.
1  https://newsroom.ferrovial.com/en/press_releases/ferrovial-announces-agreement-to-sell-stake-heathrow/
2 https://newsroom.ferrovial.com/en/press_releases/tag-along-rights-exercise-in-the-framework-of-the-agreement-for-the-sale-of-heathrow/
3 https://www.ardian.com/news-insights/press-releases/ardian-enters-agreement-ferrovial-acquire-15-stake-heathrow

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing our people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
Through its direct infrastructure investment activities, Ardian has significant experience in owning and operating European airports. In the UK, Ardian was a 49% shareholder of London Luton Airport from 2013 until 2018. During Ardian’s period of ownership, a significant redevelopment of the terminal, transport links and infrastructure was successfully completed in close cooperation with Luton Borough Council. In Italy, Ardian is an indirect shareholder of Milan Linate, Milan Malpensa, Naples and Turin airports alongside their regions and municipalities.
At Ardian we invest all of ourselves in building companies that last.

PRESS CONTACT

5654

LIZ MORLEY

liz.morley@5654.co.uk+44 (0) 7798683108

PRESS CONTACT

5654

BEN THORNTON

ben.thornton@5654.co.uk+44 (0) 7793056329

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FTV Capital Expands Internationally with Opening of London Office

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FTV Capital

As part of the expansion, Richard Earnshaw joins as partner to lead new office and FTV’s European investing efforts alongside growing team

NEW YORK & SAN FRANCISCO – FTV Capital, a prominent sector-focused growth equity investment firm with a successful 25+-year track record of investing in financial and enterprise technology, today announced the opening of its London office to serve as the firm’s hub for UK and European investments. FTV also announced Richard Earnshaw has joined the firm as partner to lead and grow the London-based team while deepening the firm’s investing efforts throughout Europe. Located in Mayfair, FTV’s London office joins the firm’s existing offices in New York, San Francisco and Connecticut, representing its first office outside of the United States.

Building on two and a half decades of experience and the firm’s strong investment track record in the region, FTV’s European team will work on deals in collaboration with FTV’s U.S. offices and strengthen its robust pipeline of European investment opportunities. FTV’s current portfolio of European-based companies includes Liberis, ManyPets, Paddle, PeopleCert, True Potential and VikingCloud. Notable exits include Centaur (acquired by Waystone Group in 2022), Egress (signed to be acquired by KnowBe4 in 2024) and WorldFirst (acquired by Ant Financial in 2019).

“We’ve enjoyed a successful history of investing in Europe for many years, supported by our Global Partner Network in the region, and establishing our on-the-ground presence in London is a significant milestone in our growth as we seek to partner with the best entrepreneurs globally,” said Brad Bernstein, managing partner at FTV Capital. “Europe is a promising breeding ground for technology innovation, and we’re excited to bring our flexible growth capital, value-creation resources and vast commercial network to more entrepreneurs to help them scale their businesses to new heights. I’m thrilled to welcome Richard, who we’ve known and respected for a long time, and to work alongside him and our fantastic growing team in London to accelerate FTV’s success.”

With 13 years of experience investing in financial services technology, Earnshaw brings extensive domain expertise in financial software and data to FTV. He joins the firm from Hg, one of Europe’s leading technology-focused private equity firms, with experience investing across Europe and North America. Earnshaw began his career at Deloitte Consulting where he worked on a range of strategy and M&A advisory projects.

“I’m excited to join FTV where we’re not only investing in innovative companies led by great teams to help fuel their growth but also working collectively to transform industries and build the future of technology in Europe,” said Earnshaw, partner at FTV Capital and head of the London office. “FTV’s unique DNA in financial and enterprise technology, combined with its collaborative culture and deep commitment to supporting founders and management teams, makes a material difference for the companies in which it invests. I can’t wait to work alongside the talented and ambitious team at FTV to leverage our sector specialisation, extensive reach into the global financial services and broader enterprise technology ecosystems, and our world-class operational capabilities to help build the next generation of European technology leaders.”

By having investment team members on the ground in Europe, FTV will further deepen its network of European founders, as well as Global Partner Network® executives and investors, which will serve all aspects of FTV’s model. With the London office and Earnshaw’s hire, FTV now comprises nearly 100 professionals, including 14 partners.

 “FTV was a true partner in helping Egress scale throughout our entire six-year relationship leading to Egress’ successful signing to be acquired by KnowBe4,” said Tony Pepper, CEO and co-founder of Egress, a London-based cybersecurity company. “No growth journey is ever straightforward, often with numerous twists and turns along the way, and it’s these moments which truly test the strength and depth of any relationship. For tech entrepreneurs looking to accelerate growth and break into new markets, FTV is an exceptional partner.”

This announcement comes on the heels of FTV receiving a series of major recognitions in recent months. In May 2024, FTV was recognized by the HEC Paris School of Business in the 2023 HEC Paris-Dow Jones Growth Capital Performance Ranking as the No. 6 top-performing growth equity firm globally out of 106 firms. The ranking evaluates growth capital firms’ ability to generate returns for their investors with funds raised between 2010 and 2019. FTV has also been named an Inc. Founder Friendly firm for three consecutive years.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised $6.2 billion to invest in high-growth companies offering a range of innovative solutions in enterprise technology and services and financial technology and services. FTV’s experienced team leverages its domain expertise and proven track record in each of these sectors to help motivated management teams accelerate growth. FTV also provides companies with access to its Global Partner Network®, a group of the world’s leading enterprises and executives who have helped FTV portfolio companies for two decades. Founded in 1998, FTV Capital has invested in over 140 portfolio companies, including Agiloft, EBANX, Kore.ai, Lean Solutions Group, Luma, Patra and Vagaro, and successfully exited/partially exited companies including Enfusion (NYSE: ENFN), Globant (NYSE: GLOB), InvestCloud (recapitalized), RapidRatings (recapitalized), Strata Fund Solutions (acquired by Alter Domus), Tango Card (acquired by Blackhawk Network) and VPay (acquired by Optum). FTV has offices in New York, San Francisco, Connecticut and London. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

Media Contact

Josh Hess

Prosek Partners on behalf of FTV Capital

(646) 818-9291

Pro-ftvcapital@prosek.com

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819 Capital Partners acquires Touroperating division from ANWB

819 Capital Partners

Deventer, June 13, 2024 – 819 Capital Partners has acquired the Touroperating division from ANWB through a buy-out, together with the management team Gert-Jan Bressers and Richard Broekhoven. The new organization will continue under the name Fox Reizen and will continue to develop and execute member trips for the ANWB.

ANWB is shifting its focus in the travel sector to offering a wide range of trips, but will no longer be developing these. The new Fox Reizen organization will continue to do this for ANWB.

Marga de Jager, CEO of ANWB: “We at ANWB are pleased with the privatization. The management knows the company well, which ensures the continuity of the organization. The privatization of the tour operating activities also fits well within ANWB’s strategy to focus more on the needs of our members and to meet those needs. We will continue to offer trips as ANWB, but we no longer want to develop and execute everything ourselves. We ensure a wide range products and services, including sales. In addition to our stores, we have a gateway for all products and services we offer at anwb.nl.”

Gert-Jan Bressers, director of Fox Reizen: “The privatization of the tour operating activities offers plenty of opportunities and makes us even more competitive, agile, and decisive. With the new management and our team, we will continue to focus on developing, selling, and executing beautiful trips in both Europe and beyond. We do this under the brands ANWB and Fox. We are convinced that with our expertise and passion, we will create great experiences for travelers. We look forward to working with our partner 819 Capital Partners to further expand the success of Fox Reizen in the coming years.”

Sven Kempers, director of 819 Capital Partners: “ANWB and Fox Reizen are renowned names in the travel industry. Given the strong management and the new form of cooperation with ANWB, we have great confidence in the future. We are pleased that we have been able to make this management buy-out possible from 819 Private Equity Fund I.”

All employees of the tour operating activities will move to Fox Reizen.

We have acquired Fox Reizen with 819 Private Equity Fund I.

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Ardian announces it has entered exclusive negotiations to acquire a majority stake in Alstef Group, alongside the management team, the founders, and Future French Champions

Ardian

Ardian, a world-leading private investment house, today announced it has entered exclusive negotiations to acquire a majority stake in Alstef Group, a leading provider of automated and robotic solutions for the airport, logistics and parcel sorting markets, alongside the Group’s management team and 260 employee shareholders. As part of this transaction, the founders (Pierre Marol and Jean-Luc Thomé) and Future French Champions, the joint venture between Qatar Investment Authority (QIA) and Bpifrance, will also reinvest in the company.

Founded in 1961 and headquartered near Orléans in France, Alstef Group is an established player in the design, integration and supply of equipment and proprietary software for intelligent handling solutions. For over a decade, the Group has experienced double-digit growth and rapid international expansion, supported by the acquisition of Glidepath, an airport-baggage and parcel-handling company in 2020, and parcel sorting company SNS in 2023. The Group has a global presence, with 16 subsidiaries around the world and systems installed in 93 countries. It is one of the world leaders in airport baggage sorting and has a blue-chip customer base in the intralogistics and parcel sorting markets.

Its collaborative approach is well-suited to complex operational environments and modernization projects. Its commitment goes beyond the provision of solutions: All teams are actively involved in design, planning, procurement and innovation to ensure the optimum delivery of its projects with minimal disruption to existing operations or environmental impact.

Alstef Group’s robust business model is based in particular on its asset-light strategy, its ability to maintain critical systems for its customers over the long term, and its presence in three complementary segments: baggage handling, intralogistics and parcel sorting.

Support from Ardian’s Expansion team will enable the company to accelerate its international development and growth ambitions.

“Alstef Group’s outstanding positioning is underpinned by an excellent management team that has consistently delivered a culture of innovation and a customer-focused approach. This ethos is an asset for continuing to develop the business. We look forward to working with the Alstef Group team to expand the group’s presence and continue its growth in its target markets.” Maxime Sequier, Managing Director Expansion, Ardian

“We are delighted to become Alstef Group’s new partner for the next phase of its development. We have every confidence in the management team and will use our expertise and access to the Ardian platform to support the group’s growth.” Arnaud Dufer, Head of Expansion France and Managing Director, Ardian

“We are delighted to welcome Ardian as a majority shareholder to support us in the next stages of our development. This transaction recognizes the expertise we have developed over more than 60 years and the success of the strategy we have implemented at Alstef Group to date. Ardian’s support will help to accelerate a new chapter in our history as we pursue our international growth ambitions.” Pierre Marol, President and Co-founder, Alstef Group

“It is with great determination that we embark on this new stage in our development, and we are confident that this partnership with Ardian will enable us to achieve our objectives quickly and efficiently. The common values we share, including our commitment, trust, know-how and a sustainable and socially conscious approach to our activities, will be the driving force behind our success. This is the beginning of a fruitful and lasting collaboration that will create value for our employees, our customers and our shareholders.” Nicolas Breton, Alstef Group

“We are delighted to continue our partnership with Alstef Group, whose growth we have supported over the past six years, particularly through its international expansion in New Zealand and the United States. With its new shareholder configuration and talented management, we are convinced that the Group will continue the great adventure initiated by its founders, Pierre Marol and Jean-Luc Thomé.” Antoine Emmanuelli, President, Future French Champions

The completion of the transaction is subject to the legal usual conditions and the approval of the relevant regulatory authorities.

LIST OF PARTICIPANTS

  • PARTICIPANTS

    • ALSTEF GROUP: PIERRE MAROL, JEAN-LUC THOMÉ, NICOLAS BRETON, SYLVIE SCHROEDER, LUCILE BERNARD
    • FUTURE FRENCH CHAMPIONS: ANTOINE EMMANUELLI, SANDRA PEZET, JUSTINE HIGELIN
    • EXPANSION, ARDIAN: MAXIME SEQUIER, ARNAUD DUFER, DAVID CAHUZAC, LESLIE PARMAST, VICTOR LESENECAL

  • BUYER ADVISORS

    • M&A ADVISORS: SYCOMORE (TRISTAN DUPONT), EDMOND DE ROTHSCHILD (ARNAUD PETIT, JULIEN DONARIER)
    • M&A LAWYERS: WINSTON (GRINE LAHRECHE, SOPHIE NGUYEN, AUDREY SZULTZ)
    • TAX LAWYERS: WINSTON (THOMAS PULCINI)
    • FINANCING LAWYERS: PAUL HASTINGS (TEREZA COURMONT VLKOVA, OLIVIER VERMEULEN)
    • DUE DILIGENCE STRATEGY: ROLAND BERGER (GABRIEL SCHILLACI, FLORIAN AKNIN)
    • DUE DILIGENCE FINANCE: EY (VICTOR DE FROMONT, BAPTISTE DAL POS)
    • LEGAL, TAX AND EMPLOYMENT: WINSTON (GRINE LAHRECHE, SOPHIE NGUYEN, AUDREY SZULTZ, THOMAS PULCINI, SOPHIE DECHAUMET, CHRISTOPHE MARIE, DIANE TARANTINI)
    • DUE DILIGENCE INSURANCE: FINAXY (DEBORAH HAUCHEMAILLE)
    • DUE DILIGENCE IT & DIGITAL: AKVIZE (MICKAEL MAINDRON)
    • DUE DILIGENCE ESG: WE DON’T NEED ROADS (JEANNE RIVES, NICOLAS BOUCHÉ)

  • SELLERS, COMPANY AND MANAGEMENT ADVISORS

    • M&A ADVISOR – SELLERS, COMPANY, MANAGEMENT: LAZARD (JEAN-PHILIPPE BESCOND, PIERRE OUAKNIN, MAXIME NORDIN)
    • M&A LAWYERS – SELLERS, COMPANY: MCDERMOTT WILL & EMERY (GREGOIRE ANDRIEUX, ANTOINE VERGNAT)
    • M&A LAWYERS – FFC: DE PARDIEU BROCAS MAFFEI (CEDRIC CHANAS, MATHIEU RETIVEAU)
    • M&A LAWYERS – MANAGEMENT: FIDES PARTNERS (NICOLAS MENARD-DURAND, CAMILLE PERRIN) & CAZALS MANZO PICHOT SAINT QUENTIN (XAVIER COLARD, CELINE DE LA ROSA)
    • VENDOR DUE DILIGENCE STRATEGIC – SELLERS, COMPANY: BCG (YVES WETZELSBERGER, BENJAMIN ENTRAYGUES)
    • VENDOR DUE DILIGENCE FINANCING – SELLERS, COMPANY: PWC (ERWAN COLDER, FRANÇOIS HAMAYON)
    • VENDOR DUE DILIGENCE LEGAL, TAX, SOCIAL – SELLERS, COMPANY: PWC (CLAIRE PASCAL OURY, CLAUDIO CARVALHO VICTER, FABIEN RADISIC, DELPHINE LEVY-DITCHI, AURELIE CLUZEL, FANNY MARCHISET)
    • VENDOR DUE DILIGENCE ESG: SELLERS, COMPANY: PWC (FRANÇOIS THUEUX, ALICE ROBINEAU)

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $166bn of assets on behalf of more than 1,600 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT ALSTEF GROUP

Alstef Group designs, integrates and supports automated turnkey solutions for the airport, intralogistics and parcel markets. Its mission is to create intelligent solutions that not only meet the needs of its customers, but also provide them with the long-term benefits of a tailor-made automated system that is eco-designed, efficient, scalable and innovative.
Alstef Group focuses on developing long-term relationships through close collaboration with its customers and proactively promotes support and maintenance services to ensure the long-term effectiveness and performance of its solutions.
With a local presence in sixteen countries and a wide range of systems installed in 93 countries, Alstef Group has 950 employees. The group generated revenue over €220 million in 2023.

www.alstefgroup.com

ABOUT FUTURE FRENCH CHAMPIONS

Future French Champions is the partnership between Qatar Investment Authority and Bpifrance, initiated in 2014. Its shareholders are:
– Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state’s reserve funds. QIA is one of the largest and most active sovereign wealth funds in the world. QIA invests across a wide range of asset classes and diverse regions, as well as partnering with leading institutions across the globe to develop a global and diversified investment portfolio, with a long-term perspective that can generate sustainable returns and contribute to the prosperity of the State of Qatar.
More information on: www.qia.qa

– Bpifrance: Bpifrance finances companies – at each stage of their development – with credit, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for startups, SMEs and ETIs are also part of the offer proposed to entrepreneurs. Thanks to Bpifrance and its 50 regional offices, entrepreneurs benefit from a close, unique and efficient contact person to help them face their challenges.
More information on: www.Bpifrance.fr -https://presse.bpifrance.fr/
Follow us on X (Ex Twitter): @Bpifrance – @BpifrancePresse

MEDIA CONTACTS

ARDIAN

HEADLAND

ardian@headlandconsultancy.com 

ALSTEF GROUP

KRISTY HOUSLEY

kristy.housley@alstefgroup.com 

FUTURE FRENCH CHAMPIONS

GEORGINA NIOM

georgina.niom@bpifrance.fr 

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Our investment in AirMDR: Closing the cyber inequity gap

Foundation Capital

06.13.2024 | By: Sid Trivedi

LinkedIn

A product and GTM strategy discussion with Kumar Saurabh and Foundation Capital Partner Sid Trivedi in Palo Alto.

Last week AirMDR emerged from stealth to announce its SMB-focused autonomous Managed Detection and Response (MDR) platform and the $5M seed round led by Foundation Capital. We were the first investor in AirMDR and incubated the company in summer 2023. I’ve personally been on the board of directors since inception and worked closely with the team from day zero.

Advances in automation have given AirMDR a chance to level the playing field in cybersecurity, giving small and medium enterprises the same detection and response capabilities as Fortune 2000s. Here’s the story of how the journey began, why we invested, and what’s ahead.

Kumar with Nick (CISO of Scrut Automation and an early customer) at Foundation Capital’s San Francisco office in May 2024.

A massive and unprotected attack vector

SMB executives have long believed that hackers pose a threat only to the largest companies—those with big brands to protect and plenty of capital to pay ransom demands. But this isn’t entirely true. Hackers have recognized that SMBs typically have limited cybersecurity tooling or knowledge and so are much easier targets. During the COVID-19 pandemic, small businesses were attacked at twice the rate of larger organizations.

SMBs have started to recognize that they are the weakest link, and they want to fix this problem. The most recent US Chamber of Commerce Survey from Q1 2024 found that cybersecurity threats are now the biggest concern for SMBs, ahead of supply chain breakdowns, theft, weather, or even another pandemic. Despite this strong demand, there is a significant talent shortage in cybersecurity (3.5M unfilled positions globally), and according to data from the World Economic Forum and Accenture, over half of SMBs don’t have the skills to respond to and recover from cyberattacks.

On the other hand, large companies typically have an internal 24/7 security operations center (SOC) that monitors alerts from across their IT and security tooling to detect threats and respond to them in real time. For a mid-size business of ~1-2K employees to maintain this level of capability you need to build a team of at least a dozen security analysts, detection engineers, and automation engineers. You also need to pay for the necessary software to log alerts, build playbooks, and run orchestration. Even for mid-market enterprises, this can end up costing $1-$3M a year.

This is where managed detection and response (MDR) providers come in. These providers become a mid-market customer’s outsourced security team and augment the in-house SOC for larger enterprises. MDR providers combine technology and human expertise to perform remote threat hunting, monitoring, and response. According to data from Emergen Research, the global MDR market was $4.9B in 2021 and is estimated to grow to $21.9B by 2030. It’s one of the fastest-growing segments in cybersecurity, but it’s mostly powered by services—typically located offshore in lower-wage economies.

Reinventing MDR with a virtual AI analyst

The rise of large language model innovation, supercharged by the launch of ChatGPT in November 2022, started to get me thinking about the opportunity ahead for new cybersecurity innovation. Two areas where I believed we would see significant innovation using generative AI are in a reinvention of detection and response tooling and the opportunity to target SMB cybersecurity. When Microsoft launched Security for Copilot in March 2023, I shared some of my thoughts on startup opportunities publicly on LinkedIn.

Kumar Saurabh saw this post and sent me a note:“This is a super interesting area for me. I do not have a concrete enough plan yet to start executing – but I am seriously exploring that area. My gut tells me that a new product should exist in that space.”

Kumar is no stranger to the detection and response category. He was one of the early employees at ArcSight, which helped to create the SIEM (Security Information and Event Management) market, and where he led the analytics and solutions teams. He eventually rose to become Director of Engineering and stayed right through the company’s IPO. After this journey, in 2010 alongside Christian Beedgen he co-founded Sumo Logic, a cloud-native SIEM platform that provided log management and analytics services. He ran engineering at Sumo and when he left at the end of 2015, half the company reported to him. Even after a successful IPO and thousands of new team members, employees have shared with me that part of the core codebase that runs the search query capabilities at Sumo Logic still comprises the original code written by Kumar. Most recently, Kumar served as CEO and co-founder of LogicHub, a cloud-native SOAR (Security Orchestration, Automation and Response) platform that was acquired by Devo in September 2022.

After some initial brainstorming, we spent a few months discussing how to leverage LLMs within detection and response. Both of us believed that one of the biggest opportunities created by generative AI was to completely reinvent the MDR through automation and target the underserved small and mid-market customer base. We believed a new startup could embed context learned from security-specific events and build on top of existing LLMs. The goal would be to reduce costs while significantly improving response times using a virtual AI analyst for each piece of the platform experience – from onboarding, detection content deployment, playbooks, threat hunting, and response actions.

Most importantly, instead of exposing a virtual analyst directly to the customer, we would leverage the AI analyst internally so that our own human SOC team could train the chatbot over time. This would ensure that customers didn’t have to deal with issues around the quality of responses and hallucinations. For the customer, the entire experience would feel like just another MDR platform, but under the hood, it would be a completely different engine.

A slide from AirMDR’s original May 2023 seed pitch deck, which walked through the reinvention of the MDR platform by augmenting human security analysts with AI.

Once the idea had crystallized into a product vision, we incorporated the company and signed a term sheet to lead the seed round in June 2023. Tae Hea Nahm of Storm Ventures, who was an early investor in Kumar’s last company LogicHub, also joined us as we began this journey.

Assembling the A-team

To go after a big vision in a competitive market, you need a world-class team. Kumar’s first partner in this journey was Anthony Morris who was an early employee at LogicHub and ran their MDR service. With experience working at top-tier SOC teams at Bank of America and Experian, Anthony knows what a good SOC looks like and wants to bring that same experience to SMBs. In fall 2023, Sekhar Sarukkai, the technical co-founder of Skyhigh Networks introduced me to his CPO, Anand Ramanathan. After long careers at Skyhigh, McAfee, Proofpoint, and Cisco, Anand was thinking about his next role and really wanted to go early. We were looking for a product leader and quickly realized that Anand brought the right mix of deep market insight, an execution-focused attitude, and the humbleness to realize what he didn’t know.

 

One of my former portfolio companies, Attivo Networks, which sold to SentinelOne for $617M in March 2022, also became a key ground for us to recruit talent. Carolyn Crandall, Attivo’s CMO became available in October 2023, and we knew she would be an excellent fit given her experience running marketing orgs at Cisco, Juniper, and Riverbed. Carolyn can make products stand out in the crowd and run focused demand-generation campaigns. And just as we thought things couldn’t get any better, in December 2023, Srikant Vissamsetti, the technical visionary behind Attivo, called me to say that he was thinking about what to do next. Srikant built Attivo’s platform to scale to over 300 customers across 6 continents and ran an engineering team of over 100 employees. This was a hire we couldn’t miss, and I immediately called Kumar. We got to work convincing Srikant to join us as CTO and by the start of the New Year he was all in.

With Kumar, Anthony, Anand, Carolyn, Srikant, and 20 other engineers, we have a dream team that brings enterprise-grade expertise to the SMB market.

With Srikant, Anand, Kumar, and Carolyn at Foundation Capital’s Palo Alto office in June 2024.

 

Pulling back the curtains

After a year of building, we’re finally ready to share the AirMDR platform publicly. We want to deliver on the promise of quality and speed— something that most human-oriented MDRs have failed to do—while also opening the market to a customer base that previously couldn’t afford a cybersecurity team. Our 24/7 human SOC leverages our virtual analyst (named Darryl) to investigate, triage, respond to, and contain threats. With AirMDR’s automation capabilities, we’ve shown that Darryl can perform tasks in under 5 minutes which would normally take human analysts over an hour to do. AirMDR’s platform supports each company’s business tech stack of choice with over 200 vendor integrations out of the box covering 90% of the integrations a typical customer might require.

We’ve already connected the team with several early customers and advisors like Nick Muy, Chris Castaldo, Assaf Keren, Kane Lightowler, and Mahendra Ramsinghani. This is also the only cybersecurity investment where we fit the customer profile, and I’m proud to say that Foundation Capital is also a paid customer of AirMDR.

We’ve had a long history of investing in novel approaches within detection and response security. From Phantom Cyber (which helped create the SOAR market) to Respond Software (which worked to automate the security analyst role before LLMs) to Anvilogic (which provides enterprises with a multi-platform SIEM architecture) to Permiso (which helps companies manage real-time cloud threats). We believe that AirMDR unpacks another new opportunity and focuses on a customer base we haven’t yet touched—the SMB market. We’re excited for AirMDR to finally bridge the cyber inequity gap. Congratulations, Kumar and the entire AirMDR team.

AirMDR is headquartered in Menlo Park, Ca. If you’d like to try their MDR platform, you can do so risk-free and for a limited-time 40% discount using an exclusive link here.

Published on 6.13.24
Written by Foundation Capital

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EQT to acquire majority position to support the growth of CluePoints, a leading provider of AI-powered software solutions used for data interrogation and analytics in clinical trials

eqt
  • CluePoints is a cloud-based software platform for Risk-Based Quality Management (“RBQM”) and data quality oversight in clinical trials, designed to enable safer and more efficient processes and improving data integrity and risk compliance
  • As scientific breakthroughs and advancements in technology and data are accelerating healthcare innovation, the markets for RBQM and data interrogation & analytics software are expected to experience strong growth
  • In this highly thematic investment at the intersection of pharma, software and AI, EQT will apply its expertise investing in healthcare and throughout the tech value-chain to help CluePoints cement its leading global position
  • Summit Partners, an investor in CluePoints since 2020, and Clinimetrics SA, a co-founder of CluePoints, will retain minority stakes with participation in this funding round

EQT is pleased to announce that the EQT Healthcare Growth Strategy and the EQT Growth Fund have agreed to acquire a majority stake in CluePoints (the “Company”), with meaningful reinvestment from the management team and existing shareholders Summit Partners and Clinimetrics SA, which was also a co-founder of the Company.

Founded in 2012 and headquartered in Belgium, CluePoints is a premier software provider for RBQM and data quality oversight in clinical trials. Applying advanced statistics and machine learning, and harnessing over 10 years of clinical trials knowledge, CluePoints’ proprietary algorithms help drive positive outcomes for pharmaceutical and biotech companies, contract research organizations and other customers. The Company offers an end-to-end value proposition from initial risk identification to ongoing tracking and monitoring of issues and discrepancies throughout the drug development process. With more than 9,500 platform users, CluePoints has helped de-risk more than 1,600 studies and has detected over 142,000 issues for its customers, which include many of the top 20 largest pharma companies.

CluePoints received a growth investment from Summit Partners in 2020, and over the course of the last several years, the Company has generated significant growth, building a robust go-to-market function, launching new products and diversifying into new markets.

This new investment comes at a time when CluePoints is seeing accelerating growth, underpinned by increasing adoption of RBQM software across virtually all clinical trial phases. The industry is experiencing momentum due to growing research & development spend, increasing data complexity in clinical trials and a focus on patient safety and data quality driven partly by regulatory scrutiny.

Investing in CluePoints is aligned with the objectives of EQT Healthcare Growth to support companies with their mission to deliver positive healthcare outcomes, and of EQT Growth to invest in the next generation of technology leaders. EQT will apply its 30-year track record of investing in healthcare, experience of investing in software and AI, its in-house digital team and global network of Industrial Advisors to help CluePoints cement its leading global position in RBQM and data analytics for clinical trials.

Andy Cooper, CEO of CluePoints, said: “We are delighted that EQT has chosen to partner with CluePoints. EQT is a market-leading investor in both SaaS (Software as a Service) and medical research industries. This combination makes EQT an ideal partner for CluePoints which is a market leader for SaaS-based clinical data analytics. We are grateful for Summit’s active support over the last four years. Their depth of industry knowledge and operational resources have been instrumental in our growth trajectory. Both EQT and Summit share our passion for and commitment to leveraging innovative advanced statistics and machine learning solutions to eliminate manual, error-prone activities in the clinical trial process.”

Dr Mark Braganza, Partner in the EQT Healthcare Growth Advisory Team, commented: “We are excited to be partnering with CluePoints and its dynamic leadership team to help it scale and reach its full potential. The Company’s ambition is a perfect match with ours to help enable the development of medical research to deliver more effective, efficient and accessible healthcare.”

Kirk Lepke, Partner in the EQT Growth Advisory Team, said: “CluePoints is a prime example of how data, machine-learning and AI can be leveraged to improve real world outcomes – in this case pharmaceutical drug development. The entire EQT platform is behind this investment and ready to support the Company with its continued expansion in RBQM and into growing, adjacent markets.”

Thomas Tarnowski, a Managing Director at Summit Partners, said: “We’ve been proud to work alongside the entire CluePoints team during a period of meaningful growth and expansion, supporting the acceleration of product development efforts and entry into new markets.” Jono Pagden, a Principal at Summit, continued: “We are excited to continue our support of the Company and to partner with management and EQT during this next phase of growth.”

The transaction is subject to customary conditions and approvals. It is expected to close in Q3 2024.

Contacts
EQT Press Office, press@eqtpartners.com
Summit Partners Press Office, mdevine@summitpartners.com
CluePoints Press Office, Jodie@discovery-pr.com

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Healthcare Growth will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 242 billion in total assets under management (EUR 132 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

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

About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. CluePoints is leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.

More info: www.cluepoints.com

About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in healthcare, technology and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.

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Light secures $13M scale the first AI-powered general ledger for automating global company finances

Seedcamp

Legacy ERP (Enterprise Resource Planning) systems developed in the ‘80s and ‘90s fail to meet the expectations of today’s modern, global-first companies and are ripe for technological innovation. Software solutions focused on the general ledger — a company’s source of truth for financial transactions – are among the essentials in the CFO tech stack.

This is why we are excited to back Light, the first AI-powered general ledger for automating global company finances. Founded by Jonathan Sanders and Filip Kozjak, Light’s mission is to revolutionize ERP software for modern multinationals.

We partnered up with Light as part of their pre-seed and we’re really excited to see them come out of stealth and announce their seed round led by Atomico, in which we also participated.

The Copenhagen-based AI-driven platform unifies accounting, tax, payments, and reporting across entities, countries, and currencies, drastically reducing month-end closing times and enhancing accuracy. Companies can integrate Light with their CRM and HRM tools, their banks, and even their communication channels (e.g. Microsoft Teams and Slack).

Jonathan Sanders, Light’s co-founder and CEO emphasises:

 “Having both worked at and founded scaling companies, I am acutely familiar with how poor legacy accounting systems are, and how much that can impact your business. They’re expensive, very slow, and require too many add-ons to be useful on a standalone basis. With Light, our goal is to help companies understand their finances more accurately and quickly by integrating a ledger with a strong application layer, helping them achieve faster growth, stronger operations, and greater resilience.”

Light’s product has been developed in close collaboration with advisors who consist of former product leaders, chief architects and CXOs from Workday, SAP, Oracle and Microsoft Dynamics.

On why we partnered up with Light, our Partner Tom Wilson comments:

“Jonathan is a perfect founder to be building Light, he brings a huge amount of experience from his time working at Seedcamp Unicorn Pleo and founding VC-backed Juni. He fully appreciates the current market that Light is competing against and the scale of the opportunity to disrupt the legacy players. We love working with Jonathan and the Light team and look forward to seeing what they can achieve with this funding round which we’re delighted to follow-on in.”  

We are excited to participate in Light’s $13M financing round led by Atomico, alongside Entrée Capital, Cherry Ventures, and notable angels including Mario Götze.

For more information, visit light.inc.

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Equativ and Sharethrough merge to form one of the largest global independent ad platforms and marketplaces

Bridgepoint

Complementary capabilities and inventory create a commercially scaled industry player with a powerful global presence

Equativ, the global independent ad tech company, today announces its merger with Sharethrough, one of the top independent omnichannel ad exchanges. This union aims to establish one of the largest ad marketplaces globally, empowering advertisers, media owners and technology partners to optimise programmatic value and scale.

With more than 720 employees, 18 countries, and a combined net recurring revenue above $200m, the unified entity will provide advertisers and media owners with an independent vertically-integrated alternative to walled gardens, addressing the growing industry’s need for heightened efficiency and innovation on a large scale. Equativ, which confirmed Bridgepoint as its primary investor last year, has tripled in size over the last three years. In Q1 2024, Equativ and Sharethrough respectively achieved 16% and 20% growth year-over-year, driven by new strategic partnerships and increased revenue from curation, CTV, and green media products. Both companies collectively maintain complementary, long-standing relationships with major agency-holding companies, premium publishers, and Fortune 500 brands.

Leveraging the companies’ top-tier technological assets and global commercial presence the combined entity will offer a broader spectrum of services and sustainable media practices, enabling ad buyers to optimise supply paths while executing high-performance campaigns. Synergistic and complementary solutions will maximise outcomes for advertisers and media owners, who will be able to use the scaled offerings to:

  • Provide advanced video & CTV strategies with Equativ’s industry-leading server-side ad insertion (SSAI) and ad serving technology and its evolution of targetable TV advertising with the recent alliance with Deutsche Telekom. Broadcasters, rights owners, distributors, and operators can drive addressable live TV advertising and amplify yield through Equativ’s fully interoperable programmatic video ad tech stack.
  • Maximise user attention & performance through Sharethrough’s ad platform where creatives are seamlessly enhanced for attention and performance, which is further optimised by curating omnichannel inventory focused on directness, sustainability, and quality. Additionally, customers can reduce the carbon footprint while improving the efficiency of their digital advertising via the company’s industry-first Green Media Products (GreenPMPTM and GreenPMP+TM), launched in partnership with Scope3.
  • Deliver efficient and transparent transactions with Equativ’s curation platform, Equativ Buyer Connect (EBC), that streamlines programmatic efficiency by facilitating the creation of exclusive deals for more simplified and transparent transactions. Advertisers can achieve SPO and directly access premium inventory, while Media owners tap into additional demand, promoting fair value distribution across the ecosystem.
  • Expand addressability solutions with Equativ and Sharethrough’s comprehensive suite of seamless and privacy-first solutions. Equativ’s alternative IDs, first-party data activation, and proprietary contextual and semantic targeting solutions, combined with Sharethrough’s audience-based targeting solutions, can help advertisers reach audiences on a large scale, irrespective of the cookie’s future.

 

Arnaud Créput, CEO of Equativ, states:

“The merger with Sharethrough marks a significant milestone in Equativ’s history. The exceptional complementarity and minimal overlap between our two platforms, combining advanced TV technology, exclusive video demand, high-impact formats driving superior user attention, and our leading positions globally, will propel us among the top three independent SSPs worldwide. Our scaled, comprehensive, privacy-first, transparent, and vertically integrated Programmatic Direct Platform will enable us to meet the needs of advertisers, media owners, and consumers for greater control and simplicity in programmatic advertising.”

JF Cote, President & CEO of Sharethrough, adds:

“Our company cultures are exceptionally compatible. Given our longstanding acquaintance, merging the two companies feels like a natural progression; one that allows us to create commercial and operational efficiencies and reach new levels of unique scalability. The union positions us as an industry leader to our top-tier demand and supply-side partners as we work to provide the tools to enable enriched and equitable value exchanges for them across the ecosystem.”

Jean-Baptiste Salvin, Partner at Bridgepoint Development Capital, adds:

“We are excited to support Equativ and Sharethrough in this pivotal merger. This union represents a significant step forward, combining their unique strengths and innovative capabilities to drive unparalleled growth and value. We are confident that together, they will redefine the programmatic advertising landscape and create exceptional opportunities for their stakeholders.”

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