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TRG Screen Announces Strategic Growth Investment from Vista Equity Partners

Vista Equity

Partnership with Vista reinforces TRG Screen’s leadership in enterprise subscription spend and usage management; capital will accelerate growth initiatives to address an increasingly complex market data and information environment

NEW YORK, Oct. 3, 2023 /PRNewswire/ — TRG Screen, the leading provider of enterprise subscription spend and usage management software, today announced a strategic growth investment from Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses. TRG Screen will use the capital to accelerate product innovation, talent, and go-to-market functions to meet the growing demand for transparency, compliance, and control of market data and information consumption.

TRG Screen, the leading provider of enterprise subscription spend and usage management software, today announced a strategic growth investment from Vista Equity Partners, a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses.
TRG Screen, the leading provider of enterprise subscription spend and usage management software, today announced a strategic growth investment from Vista Equity Partners, a leading global investment firm focused exclusively on enterprise software, data, and technology-enabled businesses.

TRG Screen also announced that Leigh Walters has been appointed Chief Executive Officer. Walters, who will succeed Steve Matthews, has previously served as both President and Chief Operating Officer of TRG Screen since joining in 2017. As part of this planned transition, Matthews will assume the role of Executive Chairman after serving as CEO for the past nine years. He will continue to partner with Leigh and the company’s executive team in driving strategic growth.

 

“This investment from Vista comes following the tremendous success TRG Screen has achieved in providing our customers with leading subscription spend and usage management capabilities; it will also further accelerate our software and managed service offerings in response to the market’s demand for best-in-class solutions,” said Leigh Walters, CEO of TRG Screen.

“Following a successful investment with Pamlico Capital, we are excited to partner with Vista to continue our mission of delivering integrated customer solutions to optimize subscription spend and usage. Vista’s team of investors, operators, and technologists understand the unique opportunity of a company like TRG Screen, and we look forward to working with them in our next phase of growth,” added Steve Matthews, Executive Chairman of TRG Screen.

Driven by an ever-increasing demand for data and information, the subscription landscape continues to grow in both size and complexity, with financial market data alone representing $37.3 billion annual spend in 2022.1 TRG Screen’s modern solutions provide actionable insights into spend and consumption patterns, providing customers with complex and expensive subscriptions with clear visibility into their spend, usage, and compliance, against a backdrop of increased cost pressure. TRG Screen currently serves more than 500 financial services organizations, law firms, and global enterprise customers that jointly manage over $8.5 billion in subscription spend.

“The proliferation of subscription-based services has made controlling costs, monitoring usage, and managing access a top priority for leading financial services organizations, law firms, and global enterprises. TRG Screen’s platform is mission-critical, providing customers with the visibility to make impactful business decisions. We congratulate Steve on positioning TRG Screen to define the future of subscription spend and usage management and are excited to partner with Leigh and the rest of the team to support TRG Screen’s long-term growth and success,” said Martin Taylor, Co-Head of Vista’s Foundation Fund and Senior Managing Director.

“We truly enjoyed working with Steve, Leigh, and the entire TRG Screen team. They are talented operators, and we are thankful to have had the opportunity to help them achieve their vision for the business,” said Walker Simmons, Partner at Pamlico Capital.

Kirkland & Ellis LLP served as legal counsel to Vista, Raymond James served as financial advisor to Vista, and Oliver Wyman served as commercial diligence advisor to Vista. Alston & Bird LLP served as legal advisor and William Blair & Company and Truist Securities served as financial advisors to Pamlico and TRG Screen.

Additional financial terms of the transaction were not disclosed.

About TRG Screen
TRG Screen is the leading provider of enterprise subscription management solutions. Founded in 1998, TRG Screen is uniquely differentiated by its ability to monitor both spend and usage of data and information services including market data, research, software licenses, consulting and other corporate expenses. TRG Screen’s solutions provide its customers with full transparency into their vendor relationships and their subscription spend and usage, enabling them to optimize their enterprise subscriptions. TRG acquired Priory Solutions in 2016, Screen Group in 2018, Axon Financial Systems in 2019, Market Data Insights in 2020, and Jordan & Jordan’s Market Data Reporting (MDR) business in 2021 and with these acquisitions is now positioned as the global market leader in the financial, legal, and professional services markets. TRG Screen’s product portfolio includes subscription spend, usage, enquiry and compliance solutions. For more information visit trgscreen.com. Follow TRG Screen on LinkedIn, @TRG Screen, and on Twitter, @trgscreen.

About Vista Equity Partners
Vista is a leading global investment firm with more than $100 billion in assets under management as of June 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.

About Pamlico Capital
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.

Media Contact
For TRG Screen
Roel Mels
366252@email4pr.com 
+31 73 6122 940

For Vista Equity Partners
Brian Steel
366252@email4pr.com 
(212) 804-9170

For Pamlico Capital
Gillian Rhew
366252@email4pr.com 
(704) 414-7126

1 Source: Burton-Taylor Financial Market Data/Analysis Global Share & Segment Sizing 2022

SOURCE TRG Screen

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KKR sells over $560 MILLION of U.S. industrial Real Estate

KKR

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced that KKR has completed the sale of over 5 million square-feet (SF) of industrial warehouse and distribution properties for a total aggregate value of over $560 million. The dispositions were completed through five discrete transactions with five separate buyers. The fifth and final sale closed on September 29th.

The sales, primarily consisting of assets in KKR’s Real Estate Partners Americas II fund, included over 50 industrial buildings located in high-growth, infill markets across Atlanta, Dallas-Fort Worth, Chicago, the Lehigh Valley and Central Pennsylvania. Since 2018, across its investment strategies in the U.S., KKR has acquired over 60 million SF of logistics assets totaling approximately $8.0 billion of aggregate value. Including these five sales, KKR has sold approximately 21 million SF since 2021 and currently owns over 40 million SF of industrial real estate in major metropolitan areas.

“Our strong focus on asset quality and market selection gives us flexibility to deliver results for our investors in different market conditions, whether through the sales of large portfolios or individual dispositions of well-bought properties,” said Ben Brudney, a Director at KKR overseeing U.S. industrial real estate investments. “We continue to selectively acquire logistics properties in growth markets and our existing portfolio continues to benefit from high occupancy and embedded rent growth potential.”

“Industrial real estate is the largest exposure across our U.S. opportunistic and core plus real estate strategies, and we have built a dedicated investment and operating platform focused on this sector that enables us to own great properties at scale,” said Roger Morales, Partner and Head of Real Estate Acquisitions in the Americas at KKR. “These sales demonstrate the attractive bid that exists for a quality assets in supply-constrained locations.”

KKR’s global real estate business invests in high-quality, thematic real estate through a full range of scaled equity and debt strategies. Managing over $64 billion in assets as of June 30, 2023, KKR’s approximately 150 dedicated real estate investment and asset management professionals across 17 offices worldwide apply the capabilities and knowledge of KKR’s global platform to deliver solutions for clients and investors.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

Media:
Miles Radcliffe-Trenner
+1 212-750-8300
media@kkr.com

Source: KKR

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Aurelius appoints Helene Schutrumpf as Director of Fundraising and Investor Relations

Aurelius Capital

London, October 2, 2023 – AURELIUS is delighted to announce the hiring of Helene Schutrumpf to lead their fundraising and investor relations. Helene is based in the UK, will be supporting AURELIUS’s future private equity fund vintages and is currently working with the private debt business.

AURELIUS has been growing significantly in recent years and now has EUR 11 bn in group revenues and more than 300 professionals working out of 10 offices across Europe and North America, including over 150 operating specialists. The growth is across all of its business lines as well as geographically, and the firm is opening an office in New York in late 2023.

“I’m excited to join this prestigious firm at a compelling inflection point as we are shifting the capital base and opening up product lines to external investors. AURELIUS has consistently generated strong returns through applying a fundamentally focussed operational approach to investments with robust downside protection, which is always in demand”, said Helene Schutrumpf.

AURELIUS has delivered top decile returns since 2005, showcasing its consistency throughout various market cycles. Its operating taskforce ensures that a structured methodology is applied to complex investments, which aims to transform companies through improving operational efficiencies and driving growth to deliver returns.

The private debt business, AURELIUS Finance Company (AFC) makes asset-based loans to UK mid-market companies, delivering superior risk-adjusted-returns with robust downside protection.

“In the current uncertain market environment, we’re seeing the appeal of having physical assets as security for loans. We enjoy the entrepreneurial opportunity of being an early mover in this underserved space”, said Helene.

“We’re excited to have Helene join us as we continue to grow from our beginnings as a small German house into a global mid-market player”, said Dirk Markus, Co-Founder of AURELIUS.

Helene started her career as a proprietary trader at Merrill Lynch and has spent the last 12 years as a placement agent, raising capital globally for private equity, private credit and real estate funds. She has a degree in Economics from Yale University.

Categories: People

Nordic Capital-backed Sunrise Medical completes strategic acquisition of Ride Designs

Nordic Capital

Sunrise Medical, a world leader in advanced assistive mobility solutions, is pleased to announce its strategic acquisition of Ride Designs, a renowned industry leader in premium custom seating systems for wheelchair riders. This acquisition marks a significant expansion of Sunrise Medical’s custom seating offerings, clinical expertise, and service capabilities, perfectly complementing the extensive range of manual and powered mobility products Sunrise Medical already offers.

Founded in 1998 and headquartered in Denver, USA, Ride Designs has built its reputation as an industry leader in designing and delivering highly specialised seating systems for wheelchair riders.

In recent years, Ride Designs has also been successfully developing, implementing, and optimizing the advanced 3D printing technologies for mass production of such highly customised products.

The company has thrived by adhering to a set of core principles backed by the in-depth expertise of its founders Tom Hetzel and Joe Bieganek, and the heritage from the prosthetics and orthotics industry, which include direct rider engagement through the Aspen Seating Clinic. In addition, the portfolio of Ride Designs benefits from evidence-based product and technology development supported by broad collaborations and research with reputable institutions and universities. This ensures that the company’s leading-edge innovations are always well integrated with user centric approach and science backed data.

The unique market reach of Ride Designs, through extensive clinical education and certification of skilled complex rehabilitation technology clinicians and providers, also demonstrates a steadfast commitment to clinically differentiated solutions that are optimized to personalized customer care.

Thomas Babacan, President and CEO of Sunrise Medical, said: “We’re very excited to welcome Ride Designs into the Sunrise Medical family. We firmly believe that this acquisition has high strategic importance and offers mutual benefits for both parties. By joining forces with Ride Designs, Sunrise adds a high-end custom seating offering to our Seating and Positioning product portfolio, similar to RGK for the manual wheelchairs range and Magic for the power wheelchairs range.”

“The acquisition not only addresses and significantly expands the broad spectrum of seating and positioning requirements for wheelchair riders worldwide, but also brings valuable clinical expertise and advanced 3D printing technologies and competences into the Group. Together with Ride’s seasoned management team and highly skilled workforce, Sunrise Medical now has an even stronger product range, clinical expertise, and operational competences to offer the best suited seating solutions to all wheelchair riders. This optimises their mobility in terms of clinical functionality, comfort, posture, and skin integrity,” Babacan added.

Tom Hetzel, CEO and Co-Founder of Ride Designs, said: “We’re thrilled to become part of the Sunrise Medical group. Ride Designs has always been dedicated to helping wheelchair riders achieve the best possible fit to enhance their quality of life. This aligns seamlessly with Sunrise Medical’s mission of improving people’s lives. Ride Designs and the Aspen Seating Clinic have long been pioneers in specialised seating development. We’re especially proud of our latest 3D printing technology manufacturing capabilities.”

He added: “We’re very passionate to bring our advanced, clinically differentiated solutions to as many riders as possible. The strengths of the two companies complement each other very well. Sunrise Medical’s existing comprehensive mobility offering, global sales networks, business resources, and infrastructure will significantly accelerate Ride’s global outreach and expansion. We’re committed to providing uncompromising solutions to address skin and postural challenges, and we believe that Sunrise Medical is our strongest partner in achieving our mission.”

Ride Designs adds to Sunrise Medical’s strong track record in M&A which is a key pillar in its business strategy. Recent successful strategic acquisitions in 2022 include The Helping Hand Company, a UK-based company specializing in pressure management and pediatric products, and Budapest-headquartered NOW Technologies, a technological research and development company focusing on digital and software innovations of wheelchair control systems.

In 2020, Sunrise Medical also acquired James Leckey Design, along with its subsidiaries Firefly Friends and Vida Global, a global leader in specialized pediatric therapeutic devices, as well as Oracing, a Spanish designer and manufacturer of innovative made-to-measure sports wheelchairs and power assist products. With the Ride Designs acquisition, Sunrise Medical and Ride Designs aim to revolutionise the world of custom seating and further empower wheelchair riders to live their lives to the fullest.

For more information, please contact:
Carol Liu
Senior VP Corporate Development & Strategic Marketing, Sunrise Medical
e-mail: carol.liu@sunmed.com

About Sunrise Medical
Committed to improving people’s lives, Sunrise Medical is a world leader in design, manufacturing and distribution of innovative, high-quality assistive mobility products and services. Distributed in 130+ countries under its own 17 proprietary brands, the key products include manual and power wheelchairs, power assist products, motorised scooters, seating & positioning systems, and daily living aids. Operating in 23 countries, Sunrise Medical is headquartered in Malsch, Germany, and employs 2,600+ associates worldwide. To find out more, please visit www.sunrisemedical.com

About Ride Designs
Sharing in that commitment to improving people’s lives, Ride is committed to creating wheelchair seating systems that help protect skin, enhance mobility, improve function, and optimize posture. Ride Designs hosts the Aspen Seating Clinic at our Denver, Colorado headquarters where world class athletes and Paralympians, as well as the most discerning of wheelchair riders, come for seating solutions. With its beginnings in 1998, Ride Designs has expanded its presence across North America and beyond.

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Levine Leichtman Capital Partners Portfolio Company Technical Safety Services Acquires Controlled Evironment Management

Levine Leichtman

Technical Safety Services (“TSS” or the “Company”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”), announced that it has acquired Controlled Environment Management, LLC (“CEM”). Based in Gilbert, Arizona, CEM is a provider of controlled environment testing, validation, certification, and calibration services required in high-performance, regulated pharmaceutical, biotechnology, and healthcare settings.

TSS is a leading provider of testing, inspection, certification, and calibration (“TICC”) services to customers in the pharmaceutical, biotechnology, healthcare, and other life sciences end markets. TSS provides on-site technical services mandated to occur at regular intervals to ensure all clients remain in compliance with regulatory standards. The Company’s services are performed across the lifecycle of a customer facility and ensure the compliant operation of controlled environments such as clean rooms, bio-safety cabinets, medical gas systems, high-purity water systems, laboratory equipment, and more. TSS was founded in 1970 and is headquartered in La Jolla, California.

Marc Boreham, President and CEO of TSS, commented, “We are delighted to welcome CEM to the TSS platform. The CEM team brings significant expertise and dedication to high-quality service, which will further enhance TSS’s support for our valued clients across key strategic capabilities and geographies.”

Matthew Rich, Partner at LLCP, stated, “We are pleased to demonstrate our continued support for the TSS team in this acquisition, which further expands the Company’s geographic presence within the Southwest. We look forward to the continued execution of TSS’s growth and value creation plan through additional strategic M&A and associated growth initiatives.”

The acquisition of CEM is TSS’s seventh since being acquired by LLCP in 2022.

TSS is a portfolio company of Levine Leichtman Capital Partners VI, L.P.

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Karnell Group AB (publ) acquires K-Vagnen

Karnell

Karnell Group AB (publ) (“Karnell”) has today completed the acquisition of Vagnsteknik i Karlshamn AB (“K-Vagnen” or the “Company”). K-Vagnen develops and manufactures trailers for landscaping and had sales of approximately SEK 82 million during the last financial year with good profitability. The Company’s current owners continue to work in the Company and remain as partners. The intention is to continue to develop the business in Karlshamn, where the Company is based, and grow K-Vagnen together with existing and new customers.

K-Vagnen is a leading manufacturer of trailers and equipment for landscaping. The company’s products are sold under its own brand and include, among other things, leaf suction trailers, irrigation trailers, weed control equipment with hot water, dump trailers and other trailers. The company’s end customers are mainly in the landscaping sector, both service companies but also municipalities, cemeteries, golf courses, real estate companies and others, which have their own service organization. The dump trailers are also sold to customers in agriculture and construction. K-Vagnen conducts its business with product development, design and manufacturing in Karlshamn in properties owned by the Company, which are included in the acquisition. K-Vagnen was founded in 1986 and has a well-known brand in the industry with a leading position in its niche. The Company is known for its Swedish-made smart and high-quality products and its focus on high customer satisfaction. The majority of the sales are in Sweden. K-Vagnen will be part of Karnell’s business area Product Companies.

“We are pleased to welcome K-Vagnen, with Jörgen Olsson and Fredrik Due at the forefront, to our group and look forward to working together to continue to grow and develop the Company. We are impressed by K-Vagnen’s growth journey and the effort that Jörgen and Fredrik have made to take the Company to its current position. There is great potential to continue to grow the Company together with new and existing customers both in Sweden and abroad. The green trend in the industry is very strong with growing demand for fossil-free solutions, which also contribute to lower noise levels. K-Vagnen is at the forefront in this regard and already offers electrical products across the entire product range.”, says Petter Moldenius, CEO of Karnell.

“We look forward to working together with Karnell and taking K-Vagnen to the next level together. We get a strong strategic partner who can support us in the continued development of the business and help us take the next step. We continue to have great ambitions for K-Vagnen and see many opportunities to continue to grow, both in Sweden and abroad”, says Jörgen Olsson, CEO of K-Vagnen.

Karnell acquires 90.1% of the shares with an option to acquire the remaining shares in the Company after the annual report for 2026 has been approved. The sellers also invest a total of SEK 5 million of the purchase price in newly issued shares in Karnell Group AB (publ).

Stockholm, September 29, 2023

For further information, please contact:

Petter Moldenius, CEO Karnell Group AB (publ) +46 8 545 891 00

Or visit our website: www.karnell.se

Karnell Group AB (publ) is a long-term and active owner of small and medium-sized industrial technology companies. Karnell has a perpetual ownership horizon and thus provides entrepreneurs and family-owned companies with a responsible and long-term partner that continues to develop their businesses in a decentralized ownership model where decisions are made locally in the group companies, and thus closest to the end customer. Karnell currently owns 10 companies in Sweden and Finland and intends to list the group on the stock exchange.

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CellFE secures $22 million in Series A financing

M Ventures

CellFE secures $22 million in Series A financing to advance microfluidics-based cellular engineering platform

Financing led by M Ventures, with participation from GreatPoint Ventures, Riverine Ventures and existing investors Cota Capital, Dynamk Capital, Elm Street Ventures, Embark Ventures, EGB Capital and Khosla Ventures.

ALAMEDA, Calif., Sept. 27, 2023 /PRNewswire/ — CellFE Inc., www.cellfebiotech.com, a life sciences tools company developing a microfluidics-based cell engineering platform dedicated to transforming the development and manufacturing of advanced cell therapies, today announced the completion of a $22 million Series A financing led by M Ventures, with participation from Great Point Ventures and Riverine Ventures as well as existing investors Cota Capital, Dynamk Capital, Elm Street Ventures, Embark Ventures, EGB Capital, and Khosla Ventures.

The continued clinical and commercial success of advanced biologic therapeutics, such as engineered cell and gene therapies, is driving substantial growth opportunities in this emerging segment of life sciences. Therapy developers are forging partnerships with technology providers, such as CellFE, to advance innovative solutions, with the aim to benefit patients seeking better therapeutic options. CellFE’s innovative, non-viral, microfluidic cell engineering platform, Infinity MTx™ system, performs complex genetic cell editing through streamlined, advanced workflows. The platform ensures gentle cell treatment, rapid cell recovery, and superior yield of healthy cells, enabling unparalleled scalability and significant time and cost efficiencies in development and manufacturing. CellFE empowers therapy developers to accelerate the ongoing evolution of advanced cell therapies across a spectrum of therapeutic areas, unlocking a groundbreaking shift towards true decentralized and point-of-care manufacturing in the cell therapy sector. The launch of the Infinity MTx system at the recent ASGCT 2023 Annual Meeting elicited broad interest from top innovative cell therapy developers globally.

With our clear path to help redefine cell therapy manufacturing, we are excited to have the backing of such esteemed investors who recognize the potential of our technology and the strength of our team

Alla Zamarayeva, CEO of CellFE

“Our vision of advancing the platform to a decentralized and point of care application will expand access to cell therapies for millions of patients.” “While viral cell engineering methods have been dominating the industry to date, high costs, limited editing capabilities, regulatory hurdles, and safety concerns are driving a shift to non-viral methods. CellFE presents a unique technology platform addressing key industry pain points across viral, but also other non-viral methods,” said Christian Uhrich, Principal at M Ventures. “Offering efficient, flexible, and consistent payload delivery, superior cell health, user-friendly workflows, and process scalability from development to manufacturing, we believe the company offers a compelling value proposition for the increasing number of therapy developers seeking novel solutions. We are delighted to join the company that Alla and the CellFE team have built at this exciting time and to support the company’s future development, growth, and overall vision.”

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Eurazeo completes its investment in BMS GROUP

Eurazeo

Eurazeo, through its Mid-large buyout team1, has completed its £355M investment in BMS Group and acquired c.34% of its share capital. Eurazeo and its affiliates joined BMS alongside its existing shareholders British Columbia Investment Management Corporation (BCI), Preservation Capital Partners (PCP) and BMS’ management and employees. Eurazeo and BCI together are majority shareholders with co-control of the Company for its next phase of growth.

Established in 1980, BMS is a leading independent (re)insurance broker delivering comprehensive, customised solutions in the field of wholesale, reinsurance and retail insurance as well as capital markets advisory services. Headquartered in London, BMS benefits from a strong reputation for placement of large and complex risks and operates across 16 countries with 33 offices around the world (US, Canada, Latin America, Australia, Europe, Asia and Middle East).

Eurazeo, BCI and PCP will support Nick Cook, Group CEO of BMS, and the rest of the BMS senior management team to pursue its proven growth strategy. The investment from Eurazeo and other shareholders is expected to enable BMS to further expand its global foothold both organically and through an active M&A strategy. Since the announcement of Eurazeo’s investment on December 23rd 2022, BMS has completed 10 acquisitions and continued its strong growth trajectory.

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£8.3mn series B investment round for TravelLocal

Gresham House

Gresham House Ventures participates in £8.3mn series B fundraising round for existing portfolio business TravelLocal, a global tailor-made holidays platform, alongside Puma Private Equity and Active Partners, helping to accelerate the company’s international growth. 

TravelLocal is a global brand and receives bookings from clients worldwide, as a managed marketplace. It is growing rapidly, as travellers demand genuinely authentic, more sustainable holidays and prioritise spending on experiences, annual bookings are over USD 50mn and are growing over 100% year on year. The new additional funding will support the company’s international growth, including investment in its managed marketplace platform and further brand marketing (including broadcasting its latest TV advert “Global Travel, Local Experts”).

TravelLocal’s innovative model is revolutionising tailor-made holidays, by connecting its customers directly with handpicked, trusted local travel experts based in their destination – who know their country better than anyone. This combines the benefits of human advice from vetted local experts, the convenience of being able to book online and full consumer financial protection (through ABTA and ATOL in the UK). Since the business was founded in 2016, TravelLocal has helped more than 70,000 customers create the perfect trip.

The TravelLocal platform enables bookings with over 500 individual local travel experts around the world, who create truly personalised itineraries directly with and for the client. They work in 271 curated partner companies and are the ‘hidden stars’ of the legacy travel industry, to whom clients now have direct access by booking with TravelLocal. They have extensive experience of advising international clients. Many travellers care deeply about making their holidays more responsible and sustainable, and TravelLocal’s approach helps to fulfil this, by enabling direct access. By dealing directly with experts in locally incorporated companies, who know and care passionately about their communities and ecosystems, more client spend remains in the local economy of the destination.

This Series B funding round follows the highly successful merger in July 2021 of TravelLocal (UK) and Trip.me (Germany), both now fully integrated under the TravelLocal brand. TravelLocal has offices in Bristol and Berlin with colleagues also working remotely across the world. This follow-on is Gresham House Venture’s third investment in the company, with Active Partners, following the Series A and the merger in 2021.

Tom Makey, Investment Director at Gresham House Ventures said:

“This marks another important milestone for the talented TravelLocal team. The business performed strongly through the pandemic thanks to its innovative, agile approach, and it has continued this success ever since, adapting to the evolving dynamics of the travel sector and the demand from customers for a more authentic and responsible experience. We look forward to supporting the business in its next phase of growth.”

Tom Stapleton, CEO at TravelLocal said:

“TravelLocal has performed very strongly again coming out of the pandemic as people travel extensively – and increasingly with a strong desire to do so in a more sustainable, meaningful way, that supports local people and economies. Our unique business model enables everyone to do just that. This funding round reflects the excellent growth opportunity we now have, and the first class team we have built to tackle it.”

 

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North acquires Ensure International Insurance Broker (West)

Polaris

NORTH, which is Denmark’s first independent consulting firm in the fields of commercial insurance, corporate pensions, financial procurement, and mortgage credit, has today acquired Ensure International Insurance Broker (West). They offer impartial and expert-based advice, as well as selection and evaluation of insurance providers for businesses in Jutland and Funen in the western parts of Denmark. The parties have agreed not to disclose the purchase price.

“Ensure International Insurance Broker (West) is a well-regarded and well-managed company with deep advisory expertise and long-standing customer relationships. I am pleased that they are now joining the NORTH community, allowing us to strengthen our market position in Jutland and Funen. We have been considering enhancing our presence in western Denmark for some time, as we already have a dozen employees residing in the Aarhus area, and we can now consolidate our efforts by joining forces in a mutual office space,” says Group CEO Lars Gundorph of NORTH

Please see the following press release:
Danish

English

For more information, please contact:

Polaris
Rune Lillie Gornitzka, Partner
Phone: +45 2462 1464
Mail: rg@polarisequity.dk

Thorsten Spurr Madsen, Director
Phone: +45 3165 2395
Mail: tma@polarisequity.dk

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