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BDC exits investment in Groupe CIR

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Bridgepoint

BlackFin Capital Partners, leading European investor in the financial services sector with €2 billion euros in assets under management, has signed an agreement to become majority shareholder of Groupe CIR, French leader in design, structuring and distribution of savings products based on underlying city-center real estate. BlackFin will replace Bridgepoint Development Capital to support the management team led by CIR founders François Larrère and Franck Temim as they embark on a new phase of growth.

Founded in 1988, Groupe CIR has established its position as independent specialist in city-center real-estate investment. The Group provides French savers and institutional investors with products based on underlying high-quality city-center real estate through three offers: CIR for direct investment in Malraux products, land deficits and historic monuments, Urban Premium for indirect investment through housing and yield real estate investment companies, and Agarim for bare ownership investment. The Group markets more than 1250 investment packages a year through a network of over 800 banking partners and asset management advisors.

Since 2017, with Bridgepoint’s support, CIR has more than doubled in size, boosting its revenue to over €25 million while consolidating its core business and accelerating diversification, notably through integration of Agarim and partnerships signed with top-flight institutional investors.

BlackFin will become the majority shareholder in Groupe CIR and its subsidiaries, alongside its founders, François Larrère and Franck Temim and the management team. They share the same ambition to accelerate the Group’s growth with the aim of offering more high-quality products to the savers and institution investors making up its customer base. Completion of the operation is subject to regulatory approval.

Francois Larrere Chairman of Groupe CIR:

“In this press release we talk about the year – 1998 – in which CIR was created.

It is legitimate to ask questions about the reasons behind a company’s long-term success.

Why do some achieve excellence over all these years? How do they continue to thrive despite the troubled periods that inevitably arise in the natural course of events?

GROUPE CIR has become leader in its business sector by consistently fostering development, change and renewal and setting itself challenging targets.

Most important, it has forged its character through a corporate culture whose first principle defines ‘Quality’ as nothing other than customer satisfaction.

This success is built on the skills and motivation of all the partners who have collaborated with us in a spirit of shared success.

During these five years of collaboration with Bridgepoint Development Capital, CIR Groupe has enjoyed significant growth in every aspect of its business.

Today, alongside BlackFin Capital Partners, we are ready to embark on a new period of strong growth. Our relationship is established, based on agreements setting the ‘Course to Follow’ for shared prosperity.“

Franck Temim, CEO of Groupe CIR: “Capitalizing on our Group’s unique positioning in France, we are keen to participate in growth of a savings market fueled by strong demand from private and institutional investors by proposing a broad range of high-quality and environmentally sustainable investment opportunities based on underlying real-estate assets.

The arrival of a major specialist such as BlackFin Capital Partners as new shareholder gives us the enthusiasm and ambition to accelerate our growth and diversification.“

Bertrand Demesse, Partner at Bridgepoint Development Capital : “We are very proud to have had the opportunity to accompany Groupe CIR in its ambitious development over the last few years. From the beginning of our collaboration at end 2017, Groupe CIR has considerably accelerated its growth, doubling in size by strengthening its core business and accelerating its diversification. Today, more than ever, Groupe CIR has all the strengths it needs to continue growing under the leadership of a talented management team.”

Bruno Rostain, Founding Partner at BlackFin Capital Partners: “We are very enthusiastic about the idea of working with CIR’s management team to write the next page of the Group’s history. We will support its growth initiatives, particularly as concerns institutional investors, digitization and a policy of targeted acquisitions.”

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Bridgepoint takes majority stake in Inspired Thinking Group

Bridgepoint

• Team ITG has 1,000+ employees across the UK, Europe and America, with its sights set on global growth

• Clients include some of the world’s most recognisable brands such as GSK, Heineken, Jaguar Land Rover and PUMA

(London, United Kingdom – 28 March 2022) – Bridgepoint has acquired a majority stake in fast- growing Inspired Thinking Group (Team ITG) from previous shareholder Equistone Partners Europe (Equistone) for an undisclosed sum. Bridgepoint’s investment will support the existing management team to deliver the next phase of Team ITG’s development internationally, focused on U.S. growth with its cloud-based marketing technology and marketing services.

Headquartered in Birmingham, UK, with over 1,000 employees across offices in Europe and America, Team ITG is transforming the way global brands operate their marketing. Founded in 2009, the company has already become the ‘go-to’ solution for many major corporations, including some of the world’s most recognisable brands: GSK, Jaguar Land Rover, Heineken, PUMA, Currys and many more.

Team ITG is a technology-led, multichannel marketing activation business. Its disruptive marketing technology (martech) platform, CanopyCloud, is supported by its 24-hour creative production studio and award-winning client services ranging from strategy, creative and creative production, to delivery, performance marketing, TV, film and photography. This blended model of technology and services allows Team ITG to rapidly deploy bespoke solutions built around individual client needs; all aimed at delivering efficiencies and creating fast, agile marketing partnerships that produce impressive results across all channels.

Simon Ward, CEO of Team ITG, commented: “Our success has been built on revolutionising the way marketers work, liberating them from tedious administrative tasks through our integrated ecosystem of game-changing technology and world-class creative services. Designed by marketers for marketers, our martech platform is highly innovative, refreshingly intuitive, and extremely powerful. GSK, one of our many global clients, recently described our CanopyCloud platform as ‘the future and heart of their content operations.’

“We would like to thank Equistone for its fantastic support in developing our business over the past four years. And now, our relationship with Bridgepoint is another brilliant milestone in our journey as we grow globally. We have the team and the resources to deliver even more powerful results for our clients across the world while also developing a host of exciting new partnerships.”

Emma Watford, partner and co-head of Bridgepoint’s investment activities in the UK, said: “Team ITG is a successful marketing operations services business with a compelling software offering, CanopyCloud. It operates in a very large, growing and fragmented market that benefits from the increasing need for automation driven by the shift to digital and personalised marketing. We’re excited to be backing the team at a crucial time as they scale their technology offering and become increasingly global – areas where we can provide the necessary expertise to accompany them on this next stage in their journey.”

Whilst Equistone has sold its majority stake, the firm has reinvested in Team ITG through its Reinvestment Fund. This reflects Equistone’s ongoing support and confidence in the executive team, the driving force behind the next stage of Team ITG’s growth.

Paul Harper, Partner at Equistone, said: “We are proud to have partnered with Simon and the team during this exceptional phase of the company’s development, comprising strong organic and acquisitive growth. We are also delighted to be reinvesting in Team ITG as a minority shareholder and look forward to continuing to support the business’s ambitious global growth strategy.”

Bridgepoint was advised on the deal by Alantra, JEGI Clarity, Allen & Overy, EY and Bain & Company. Team ITG and Equistone were advised by GP Bullhound and Eversheds Sutherland.

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BDC exits investment in Groupe CIR

Bridgepoint

BlackFin Capital Partners, leading European investor in the financial services sector with €2 billion euros in assets under management, has signed an agreement to become majority shareholder of Groupe CIR, French leader in design, structuring and distribution of savings products based on underlying city-center real estate. BlackFin will replace Bridgepoint Development Capital to support the management team led by CIR founders François Larrère and Franck Temim as they embark on a new phase of growth.

Founded in 1988, Groupe CIR has established its position as independent specialist in city-center real-estate investment. The Group provides French savers and institutional investors with products based on underlying high-quality city-center real estate through three offers: CIR for direct investment in Malraux products, land deficits and historic monuments, Urban Premium for indirect investment through housing and yield real estate investment companies, and Agarim for bare ownership investment. The Group markets more than 1250 investment packages a year through a network of over 800 banking partners and asset management advisors.

Since 2017, with Bridgepoint’s support, CIR has more than doubled in size, boosting its revenue to over €25 million while consolidating its core business and accelerating diversification, notably through integration of Agarim and partnerships signed with top-flight institutional investors.

BlackFin will become the majority shareholder in Groupe CIR and its subsidiaries, alongside its founders, François Larrère and Franck Temim and the management team. They share the same ambition to accelerate the Group’s growth with the aim of offering more high-quality products to the savers and institution investors making up its customer base. Completion of the operation is subject to regulatory approval.

Francois Larrere Chairman of Groupe CIR:

“In this press release we talk about the year – 1998 – in which CIR was created.

It is legitimate to ask questions about the reasons behind a company’s long-term success.

Why do some achieve excellence over all these years? How do they continue to thrive despite the troubled periods that inevitably arise in the natural course of events?

GROUPE CIR has become leader in its business sector by consistently fostering development, change and renewal and setting itself challenging targets.

Most important, it has forged its character through a corporate culture whose first principle defines ‘Quality’ as nothing other than customer satisfaction.

This success is built on the skills and motivation of all the partners who have collaborated with us in a spirit of shared success.

During these five years of collaboration with Bridgepoint Development Capital, CIR Groupe has enjoyed significant growth in every aspect of its business.

Today, alongside BlackFin Capital Partners, we are ready to embark on a new period of strong growth. Our relationship is established, based on agreements setting the ‘Course to Follow’ for shared prosperity.“

Franck Temim, CEO of Groupe CIR: “Capitalizing on our Group’s unique positioning in France, we are keen to participate in growth of a savings market fueled by strong demand from private and institutional investors by proposing a broad range of high-quality and environmentally sustainable investment opportunities based on underlying real-estate assets.

The arrival of a major specialist such as BlackFin Capital Partners as new shareholder gives us the enthusiasm and ambition to accelerate our growth and diversification.“

Bertrand Demesse, Partner at Bridgepoint Development Capital : “We are very proud to have had the opportunity to accompany Groupe CIR in its ambitious development over the last few years. From the beginning of our collaboration at end 2017, Groupe CIR has considerably accelerated its growth, doubling in size by strengthening its core business and accelerating its diversification. Today, more than ever, Groupe CIR has all the strengths it needs to continue growing under the leadership of a talented management team.”

Bruno Rostain, Founding Partner at BlackFin Capital Partners: “We are very enthusiastic about the idea of working with CIR’s management team to write the next page of the Group’s history. We will support its growth initiatives, particularly as concerns institutional investors, digitization and a policy of targeted acquisitions.”

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PGGM Infrastructure Fund and DIF Capital Partners reach agreement for intended acquisition of Enexis-subsidiary Fudura

DIF

Proposed new owners announce substantial investments in company with key role in Dutch energy transition

A consortium of DIF Capital Partners, through its DIF Infrastructure VI fund (“DIF”), and PGGM Infrastructure Fund (“PGGM”) has entered into an agreement for the acquisition of Fudura B.V., a subsidiary of Enexis Groep. PGGM and DIF will both acquire 50 percent of the shares. PGGM invests pension capital from, among others, Pensioenfonds Zorg en Welzijn for its three million participants, while DIF’s investment fund is supported by a large number of Dutch and international pension funds and insurance companies.

Fudura is the market leading B2B provider of medium-voltage electricity infrastructure (mainly transformers), metering devices and related data services in the Netherlands. With the intended acquisition, the new investors add a company to their investment portfolios that plays an important role in the Dutch energy transition. Fudura is active in offering services to companies seeking solutions for energy efficiency, security of energy supply and CO2 neutrality. Fudura currently has 22,000 business customers, being a combination of larger companies, public institutions such as hospitals, and SMEs. Within all these client segments there is a great urgency for a more sustainable energy consumption.

Fudura’s strategy to broaden its services within the energy transition is fully endorsed by the new intended shareholders. Various solutions will be offered, such as the delivery of solar panels, batteries, EV chargers and electric heating solutions. With this, Fudura wants to meet the increased demand from business customers to reduce their CO2 footprint, reduce dependence on natural gas and guarantee energy security.

René Pruijssers, director of Fudura: ,,As director of Fudura I am very pleased with selecting DIF and PGGM. With these partners Fudura can further develop as the energy transition platform for business customers. Fudura’s customers, employees and partners will benefit from the knowledge and ambition of DIF and PGGM to make the Netherlands more sustainable.’’

Erik van de Brake, head of Infrastructure at PGGM: ,,Fudura fits perfectly into PGGM’s strategy to make long-term investments for our clients, including Pensioenfonds Zorg en Welzijn, which are not only financially attractive, but also have a positive impact on our society. We are faced with the enormous task of making the Netherlands CO2 neutral within a few decades, and companies such as Fudura play a very important role in this. Fudura will become part of our investment portfolio, which, in addition to Fudura, also contains a number of other investments that play a key role in realizing the energy transition and will help to accelerate it.’’

Gijs Voskuyl, head of Core Infrastructure at DIF: ,,We are delighted with the acquisition of a 50% stake in Fudura. The company’s leading role in the energy transition in the Netherlands fits seamlessly with DIF’s own ambitions including having a CO2-neutral investment portfolio by 2050 the latest. In addition, we expect that DIF’s expertise in previous energy transition investments will contribute to a fruitful collaboration with both Fudura and co-shareholder PGGM.’’

Enexis and the consortium of DIF and PGGM have also made agreements about employment, sustainability and continuity of Fudura. The consortium of DIF and PGGM sees Fudura as a platform for the energy transition and commits itself to Fudura for a long period of time. The employment and working conditions of Fudura’s employees are guaranteed and there is support for Fudura’s strategy and its role in the energy transition. These agreements are laid down in the signed document and are an integral part of this intended transaction.

About Fudura

Fudura B.V. is a wholly owned subsidiary of Enexis Groep and is active in the non-regulated part of the energy market. Fudura focuses on business services to optimize and make the energy supply of more than 22,000 business customers in the Netherlands more sustainable. Fudura provides advice, measures, designs and realizes infrastructures and manages and maintains meters, charging stations, transformers and switchgear. Fudura is the market leader in its segment.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 10 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australia through two complementary strategies:

  • Traditional DIF funds, of which DIF Infrastructure VI is the latest vintage, target core infrastructure equity investments with long-term contracted or regulated income streams including public-private partnerships, concessions, utilities, and energy transition projects (incl. renewable energy).
  • DIF CIF funds target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.

DIF Capital Partners has a team of over 180 professionals, based in eleven offices located in Amsterdam (Schiphol), Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

About PGGM

PGGM is a not-for-profit cooperative pension fund service provider. As a pensions administrator, asset manager and advisor to pension fund boards, it executes its social mandate: to provide for good old-age incomes for 4.4 million participants in the Netherlands. On December 31, 2021 PGGM managed long-term pension capital of EUR 291 billion worldwide. Rooted firmly in the Dutch healthcare sector, PGGM develops innovative provisions for labour market issues in this sector, alone or with strategic partners. Our member organisation PGGM&CO supports 764,000 workers and pensioners with a background in healthcare. www.pggm.nl.

For more information:

DIF Capital Partners

Allard Ruijs, a.ruijs@dif.eu, +31 (0)20 655 47 05

PGGM Corporate Communications

Maurice Wilbrink, maurice.wilbrink@pggm.nl, +31 (0)30 277 97 35

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Altor acquires a significant minority stake in Svea Solar – continuing its growth in climate transition investments

Altor

Altor Fund V (“Altor”) has signed an agreement to acquire a significant minority stake in Svea Solar and enter into a partnership with the founders and management to support the continued growth of the company. The founders Erik Martinson and Björn Lind will continue in their roles as CEO and Head of Operations and remain major shareholders of the company.

Founded in 2013, Svea Solar is the #1 integrated solar solutions & service provider in Sweden and #3 in Europe with revenues above SEK 1bn (2021). The company serves more than 20 000 customers primarily focusing on the residential segment, but also through selected corporate partnerships. Starting out in Sweden, Svea Solar entered Spain in 2019, and further expanded into Germany and Benelux in 2020. The headquarters are located in Stockholm and the company currently employs ~700 people.

As part of the transaction, Altor is injecting significant growth capital into the company, to support the accelerated geographical expansion as well as launch of a fully integrated residential solar offering in the near term. In addition, Altor is acquiring all outstanding shares from current shareholder Axsol AB. In total, this makes Altor the lead investor in Svea Solar.

“It is more important than ever to quickly scale up Europe’s access to clean energy, not only for the sake of the climate, but also to ensure that Europe becomes self-sufficient on energy. This enormous contribution from an experienced and engaged investor like Altor will enable us to further contribute to a more sustainable, resilient, and independent energy system. For us it was vital that Altor shared our vision of a future without fossil fuels, where we help people to become self-sufficient on clean energy as quickly as possible. We really look forward to start working closely with a world class investor like Altor,” says Svea Solar’s CEO and co-founder Erik Martinson.

“The investment builds on Altor’s investment track-record in green transition businesses and is a testament to our strong conviction in solar as a critical component for European energy supply and balance. Svea Solar has quickly become the leading residential solar company in Sweden, with established positions in Spain, Germany, Belgium and the Netherlands. Svea Solar’s innovative team has built a remarkable brand position and we are certain they will continue to play a key role in driving the green energy transition in Europe in the years to come. We look forward to partnering with the Svea Solar team and shareholders to deliver on that ambition.” says Herman Korsgaard, Director at Altor.

For more information, please contact:
Tor Krusell, Head of Communications at Altor, tor.krusell@altor.com, +46 705 43 87 47

About Altor
Since inception, the family of Altor funds has raised some EUR 8.3 billion in total commitments. The funds have invested in excess of EUR 5 billion in more than 75 companies. The investments have been made in medium sized predominantly Nordic companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are OX2 and H2 Green Steel. For more information visit www.altor.com

About Svea Solar
Svea Solar is one of Europe’s fastest growing cleantech companies and the #1 solar solution provider in Sweden. Starting in 2014 Svea Solar now has operations in five markets in Europe with over 700 employees. Svea Solar offers a powerful solution for sustainable living with solar panel systems, batteries, electric car chargers, fossil-free electricity contracts, and a platform enabling customers to produce, consume and sell their power. In addition, Svea Solar develops large-scale energy production. Svea Solar aims for a world where everyone can be self-sufficient on clean energy. Svea Solar has operations in Sweden, Germany, Spain, Belgium and the Netherlands. For more information visit www.sveasolar.com

Author: Katarina Karlsson
Date: 2022.03.24
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Introducing Bonterra: Technology That Powers Those Who Power Social Impact

Apax

Bonterra supports social good organizations with software solutions that make their work easier, more efficient, and more effective

The technology and people behind CyberGrants®, EveryAction™, Network for Good®, Social Solutions®, and their respective entities, are coming together as Bonterra™.

Bonterra is creating a landscape-defining software platform to power those who power social impact. By bringing together its intuitive technology and expertise, Bonterra will enable unprecedented connectivity between social good organizations and their community of supporters and constituents. This collaboration will unlock potential for the doers behind the scenes across nonprofits, public agencies, corporations, philanthropic organizations, and foundations—ultimately creating more ways for social good organizations to maximize their impact in the communities they serve.

“We are passionate about serving the people who make social good possible—the dedicated changemakers who work tirelessly to make a difference—and supporting them with proven technology that makes their jobs easier,” said Erin Mulligan Nelson, CEO of Bonterra. “Joining these organizations together offers limitless possibilities to help the doers reach their most ambitious goals. This collaboration has the power to reshape philanthropic giving, empower digital transformation, and bring the social good sector the technology it needs to accelerate lasting social change.”

About Bonterra’s technology solutions:

  • Case management: Social Solutions’ Apricot®, ETO®, and Penelope™ products provide actionable, data-driven insights to help nonprofit and public sector leaders better coordinate the delivery of essential services, measure impact, and improve outcomes for those in need.

  • Corporate social good and philanthropy: CyberGrants’ Grants Management, Employee Giving, and Volunteerism products provide corporate social responsibility, employee giving, grants management, and volunteerism solutions coupled with deep analytics that power corporate philanthropy impact.

  • Nonprofit fundraising and relationships management: EveryAction, GiveGab®, Network for Good, and SalsaLabs™ provide omni-channel engagement platforms to help nonprofits of every size cultivate donor relationships, optimize stakeholder interactions, raise more money, and advocate for positive change.

Based on internal company data, Bonterra helps over 15,000 nonprofit customers manage cases, fundraise, and receive funds. In 2021 alone, Bonterra’s technology solutions were used by its more than 19,000 customers (across all segments) to direct giving of over $7.4 billion to more than 225,000 nonprofit organizations.

Going forward, CyberGrants, EveryAction, Network for Good, Social Solutions, and their respective entities will operate as Bonterra. NGP VAN, the political fundraising, organizing, advocacy, and email solution, will continue to operate as NGP VAN. ActionKit™ and Mobilize™ will roll up to NGP VAN.

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Corus and Signadens join forces for European leadership in digital dentures

Quadrum Capital

Barcelona (ES)/Amersfoort (NL), 23rd of March 2022 – Dutch-Belgian Signadens has joined forces with Corus, the leading dental laboratory group in Spain, France and Portugal. Under the name Corus, they aim to consolidate their position at the forefront of technology and innovation and become market leaders in the field of European digital dental prostheses. The integration creates a cluster with 49 laboratories and 1,200 employees, supporting 9,000 dental practices in five countries in the ongoing modernisation and digital transformation of the industry.

image

The co-directors of the new Corus, Nicolas Bonnard, Jeroen Van Asten and Juan Roma.

As part of its strategy, Corus aims to integrate local entrepreneurs who then become shareholders of the company, while maintaining the highest level of service locally for their existing customers. Corus operates as an integrated digital platform where dentists can communicate with the local laboratory and patient, while at the same time ensuring prescription traceability and the information needed to tailor products and services to the patient. Together with the integration of the wider network of laboratories, this provides a global solution based on an innovative and differentiated portfolio of working protocols, products, services and training and education while maintaining a local and personalised approach, ensuring better dental care and patient experience.

Corus and Signadens will reach a consolidated turnover of €100 million by the end of 2021. Following the integration, the company plans to grow the business further through a combination of organic growth and the consolidation of more laboratories, both in the current regions and beyond. Current private equity investors Careventures and Quadrum Capital have pledged their support for the company’s future growth plans.

Corus is led by co-CEOs Jeroen van Asten (Signadens) and Nicolas Bonnard (Corus). They will share responsibilities for the development of the company, with Van Asten as CEO for the Netherlands and Belgium. Van Asten: “The European market for dental prostheses is undergoing a consolidation process. Digitisation is bringing about far-reaching changes. In the coming years, we want to play a leading role in this transformation by integrating leading laboratories and leveraging the group’s capacity for innovation. We look forward to further expanding our products and services in the European market. Countries such as Germany, the UK or Italy have enormous potential, which we are keen to capitalise on.”

Nicolas Bonnard, CEO of Corus Spain, Portugal and France, speaks of a new era: “It is a great honour to take on the challenge of leading and developing our company with very talented entrepreneurial partners and an excellent team of experienced managers. Corus, in cooperation with dentists, is driving the paradigm shift in the new era of dentistry: digital, personalised and with high added value for the dentist and for the patient. Based on our corporate structure, where all laboratories own shares in the group, we are well positioned to provide excellent services and products to our customers in the most efficient way.”

Juan Roma, partner at Careventures and executive chairman of Corus, said, “At Corus, we are committed to the European development of the company. The confidence, talent and results we have achieved in recent years are testament to the success of our work. Joining forces with Signadens greatly strengthens our position as a leader in the market. Moreover, with the leadership of both Nicolas and Jeroen, I have no doubt that we will continue to achieve success as we see Corus grow further into new markets.”

Advisors involved in the transaction were BakerMckenzie, Houthoff, Broseta and Atlas and for the financial DD support Deloitte.

About Corus Corus is the leading European company in the field of advanced dental prosthetics and orthodontics with headquarters in Barcelona. Founded in 2015, Corus is part of the paradigm shift towards a new form of dentistry, 100% digitised, personalised and with added value for the patient. Since its foundation, Corus has integrated 35 dental laboratories, distributed across Spain, France and Portugal, with a team of more than 920 professionals. The European private equity fund Careventures is the main shareholder and investor of Corus, together with the Managing Partners of the group’s laboratory.

About Signadens Signadens was founded in 2016 as a collaborative initiative of independent dental technicians to establish a quality label in dental care, “Certified by Signadens”, by: (i) investing in automation and digitalisation of activities; (ii) unburdening dental technicians by centralising non-dental activities; (iii) pooling purchasing volume and jointly achieving economies of scale. In December 2020, Dutch mid-market private equity party Quadrum Capital acquired approximately 60% of the company to implement a build-and-buy strategy to consolidate the dental laboratory market in the Benelux and Germany.

About Careventures Careventures is a pan-European private equity firm based in Brussels and Barcelona, specializing in projects for healthcare services.

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Pearlman Group Acquires CleanSource

Stephens Group

Continues to Scale in Cleaning & Restoration via Partnership

Pearlman Group (“Pearlman”), a portfolio company of The Stephens Group, LLC (“The Stephens Group”) and a leading multi-channel developer and specialty distributor of supplies, tools and equipment used in the fabrication, maintenance, cleaning, and restoration of surfaces for residential, commercial, and industrial end-markets, announced that it has acquired CleanSource, Inc. (“CleanSource”). Terms of the transaction were not disclosed.

Based in Columbia, SC with a second location in Charlotte, NC, CleanSource is a distributor of professional cleaning and restoration supplies to the Carolinas. In addition to consumables and supplies, CleanSource offers a full suite of services, education, and rental to its contractor customers. Founded by Herb and Susan Stutts in 1997, CleanSource has grown under the leadership of their son Jonathan Stutts who, along with the entire CleanSource team, will continue to operate the business in partnership with Pearlman.

“We are thrilled to expand our team and capabilities in the cleaning & restoration market with the addition of CleanSource, a respected and successful specialty distributor,” said Pearlman CEO Scott McLendon. “We are thankful the Stutts family has entrusted Pearlman to be a good steward of the business and team they have grown, and we are excited to work with Jonathan and the team on the next phase of growth for CleanSource.”

Grant Jones, a Managing Director at The Stephens Group added, “The CleanSource transaction demonstrates Pearlman’s differentiated, partnership-based approach to acquisitions and ability to scale in new adjacencies at pace. We continue to support Pearlman and the newly expanded team in creating an industry-leading specialty distribution platform with strong value proposition across a diverse set of adjacencies.”

“After decades of hard work and dedication by our team, it was extremely important for our family to find a partner who shared similar values and would support the continued success, growth, and legacy of the business we had the fortune to grow as a family,” said Herb Stutts. “Pearlman’s partnership approach and desire to invest in the growth of our team is an important differentiator that will allow us to continue to support our loyal customer base,” added Jonathan Stutts. “I am excited to join the Pearlman team to drive growth strategies in our current markets and beyond,” continued Stutts.

ABOUT PEARLMAN GROUP

Headquartered in Norcross, GA, Pearlman, through its primary brands, GranQuartz, Vector Tools, Pearl Abrasive, and Excel Supplies, is a multi-channel developer and distributor of supplies, tools and equipment used in the fabrication, maintenance, cleaning, and restoration of surfaces for residential, commercial, and industrial end-markets. Pearlman’s GranQuartz division is the market-leading distributor serving thousands of stone fabricators, tile installers, and concrete and monument professionals. Vector Tools is a mobile-centric distributor of stone fabrication tools and supplies in the Southeast. Pearl Abrasive is a leading developer and provider of high quality, branded abrasives and cutting tools to thousands of distributor customers in construction and industrial end-markets. Excel Supplies is a specialty distributor of professional cleaning, restoration, pressure washing, and janitorial equipment and supplies in the Southeast. The Company’s products include an extensive offering of proprietary, exclusive, and national branded products with over 18,000 SKUs across multiple price points and applications.

ABOUT CLEANSOURCE

Headquartered in Columbia, SC, CleanSource is the leading resource for consumables, supplies, equipment and training to professional cleaning and disaster restoration industries. With a second location in Charlotte, NC, CleanSource provides a full suite of products and services to thousands of professionals throughout the Carolinas and beyond. CleanSource is differentiated by its customer centricity and close-knit culture which treats customers, vendors, and employees with respect and professionalism. The Company’s strong service capabilities and local support have earned CleanSource strong customer loyalty over its nearly 25-year history.

ABOUT THE STEPHENS GROUP, LLC

Headquartered in Little Rock, AR, The Stephens Group, LLC is a private investment firm that partners with talented management teams to help build valuable businesses. Backed by the resources of the Witt Stephens and Elizabeth Campbell families, the firm combines the operational expertise of a private equity firm with the flexibility provided by long-term capital. With nearly $2 billion of private equity assets under management, the firm has a long history of providing informed, sophisticated expertise and working with owners and managers to help them successfully achieve their strategic visions and build long-term value. Since 2006, The Stephens Group has invested in 49 companies, targeting investments in industries across the U.S., including industrial and commercial products and services, specialty distribution, B2B food, technology infrastructure and tech-enabled services.

CONTACT:

Allie Laborde
Principal, Business Development
The Stephens Group, LLC
pressreleases@stephensgroup.com
501.377.3401

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EQT Private Equity Asia acquires Guardian, China’s largest domestic pest control operator

eqt
  • EQT Private Equity Asia makes majority investment in Guardian, China’s largest domestic pest control operator, with a strong presence in the country’s eastern and southern provinces
  • Guardian’s underlying market is supported by favorable demographic trends, such as increasing urbanization, a growing middle class, and a shift towards more healthy and environmentally friendly lifestyles, while from an ESG perspective, Guardian continues to improve living conditions in cities through efficient pest control
  • EQT will support Guardian’s next phase of growth by driving consolidation in China’s highly fragmented pest control market while leveraging EQT’s inhouse digitalization and sustainability capabilities, route-based sector expertise, and global advisory network

EQT is pleased to announce that the EQT Mid Market Asia III fund (“EQT Private Equity”) has made a majority investment in Guardian Shanghai Hygiene Service Ltd. (“Guardian” or the “Company”). Guardian’s founders, Chuck Jiang, Charlie Peng and Steven Gan will retain a minority stake in the Company and remain in the management team.

Guardian was founded in Shanghai in 2011 by Chuck Jiang, former General Manager of global pest control company, Rentokil, in China. It has grown from a regional player to a leading national player today, having completed 14 bolt-ons historically. Today, Guardian holds a strong position in high-end commercials verticals, including restaurant chains, supermarkets, shopping malls, airports, hotels and food production facilities.

Guardian’s underlying market is supported by favourable demographic trends, including an increasing urbanization pace, a growing middle class, and new regulatory directives, such as “Healthy China 2030”, a nation-wide policy reform that sets out to encourage more healthy and environmentally friendly lifestyles.

From an ESG perspective, Guardian continues to improve living conditions in cities through efficient pest control. EQT will further support Guardian’s digital innovation of pest control products and services, which is key to decreasing negative environmental and human impacts. By investing in and rolling out digital solutions such as digital rodent traps, Guardian could lower chemical usage and reduce the number of manual site visits.

EQT will support Guardian in its next phase of growth through improvements in its digital backbone, including investments in innovation and technology, online marketing strategy and digital service offerings. Guardian will also benefit from EQT’s sub-sector expertise within route-based services and planning, as well as merger and acquisition capabilities.

Jerry He, Partner within EQT Private Equity’s Advisory Team and Head of China, said, “EQT Private Equity is excited to invest in Guardian at this critical stage of growth. We are impressed by Guardian’s development in the last decade and see abundant opportunities to apply our industry network, sector expertise and digital skillsets to support its ambitious vision and expansion plans. Moreover, China’s fragmented pest control market allows for attractive opportunities for organic and acquisitive growth. We look forward to partnering with Chuck and his management team to future proof the company and reach its full potential.”

Chuck Jiang, Founder and CEO of Guardian, said, “Over the past decade, the entire Guardian team has dedicated itself to building the Company from the ground up, from a regional player to now a leading national player. We are excited to partner with EQT, one of the world’s largest and most reputable private equity firms, to further accelerate our growth and expand our footprint. EQT’s experience and expertise in the pest control space are highly valuable, and will support Guardian in realizing new opportunities and provide better and innovative solutions for our customers.”

The transaction was closed on 17 March 2022.

Contact
APAC media inquiries:
Mavis Ma, Communications Manager, mavis.ma@eqtpartners.com, +852 9280 9663

International media inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with EUR 73.4 billion in assets under management across 28 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

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

About Guardian
Founded in 2011, Guardian is the largest local Chinese pest control operator, with a strong presence in Eastern and Southern China. During the past 10 years, it has grown from a regional player to a leading national player today, having completed 14 bolt-ons historically. Guardian has a strong position in high-end commercials verticals, including MNC chain restaurants, retail and public (airport) verticals. Guardian strives to offer comprehensive environmental sanitary solutions and be a long-term business partner to its clients.

More info: www.guardian-hygiene.com

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Adams Street Appoints Joost Mioch as Head of Benelux Region

LONDON – 21 March 2022 – Adams Street Partners, LLC, a private markets investment management firm with over $51 billion of assets under management, announced this week that Joost Mioch has joined the firm as regional head of Benelux, operating out of the firm’s Munich office. Mr. Mioch joins from BlackRock and brings with him considerable private markets expertise.

 

The new appointment reflects Adams Street’s commitment to serve the demands of a greater share of capital within the region, where it has been active for over two decades. Benelux has witnessed considerable growth in deal volume over the past decade. It has also seen pension funds taking an increasingly sophisticated approach to private market investment, including ESG integration.

Among the firm’s various capabilities in private markets, we believe our private credit team is particularly well-positioned to serve the pensions and insurance markets among other participants, particularly in the current low-yield environment.

John Kremer, EMEA Head of Investor Relations, added: “Joost’s specialist experience will be valuable as we continue to grow the institutional franchise within the Benelux region, with wider support from our Munich office.”

“Entrepreneurial and niche private equity strategies are increasingly popular with Benelux based pension funds. Moreover, exposure to venture capital promises to add value to the region’s real economy,” said Mr. Mioch. “I look forward to driving this growth effort as part of the wider Adams Street team.”

About Adams Street Partners

Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has over $51 billion in assets under management. Adams Street strives to generate actionable investment insights across market cycles by drawing on 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Austin, Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo. Visit www.adamsstreetpartners.com

Media Inquiries:
Alistair Kellie / Clotilde Gros / Jessica Hodson Walker / Eva Rana
adamsstreetpartners@secnewgate.co.uk

Categories: People