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Diakrit and Virtuance join forces to deliver a new standard in real estate marketing, backed by Adelis as their international growth partner

Adelis Equity

Diakrit, the leader in digital property marketing content, has partnered with Adelis Equity Partners (“Adelis”) to accelerate the company’s international growth. As a first step, Virtuance, Diakrit’s main counterpart in the US market, has joined the group, creating an even stronger global leader with a best-in-class offering across three continents. Management and founders will continue to hold a significant ownership, together with Adelis.

With over 20 years of global experience, Diakrit helps leading real estate brokerages across the world successfully win more business and grow their brand through high-quality property marketing content including magazine-quality photography, 2D and 3D floor plans, 360-virtual tours, digital renovating and decorating tools and video.

Currently servicing over 2,000 leading real estate brokerages in Sweden, Norway, Denmark, Australia, New Zealand, and the US, Diakrit has established a unique and highly attractive position in their markets. This success results from the company’s cutting-edge technology, efficient automation and scalable operations, enabling Diakrit to deliver an unrivaled real estate experience that generates superior results for real estate brokers, homeowners and buyers alike.

“We researched the entire ecosystem of similar services in the Nordics, Europe and the US, resulting in an extensive analysis that made Diakrit stand out as a clear leader on a fast track to continued international growth. We were impressed by Diakrit’s highly experienced management, innovative technology and infrastructure, as well as the company’s world-class customer service,” says Joel Russ at Adelis.

“Diakrit was seeking a partner to help accelerate our international growth and support the company’s continued development. We are pleased to have partnered together with Adelis and look forward to developing Diakrit into an even stronger global market leader. Virtuance will play a key role in this journey by expanding Diakrit’s US presence and further strengthening our technology platform,” says Ken Brown, CEO of Diakrit.

Since its inception in 2010, US-based Virtuance has become a leading real estate photography provider with nationwide coverage. Powered by advanced AI-image processing algorithms, Virtuance automates key visualizations and marketing processes for its customer base of over 45,000 real estate professionals in the US.

“Like Virtuance, Diakrit is a forward-thinking, innovative and customer-focused business. We see this as a great opportunity to leverage the combined experience, systems, processes and digital property marketing content of the group to take Virtuance to the next level in the US and globally,” says Jeff Corn, CEO of Virtuance.

Joel Russ at Adelis adds: “By joining forces with Virtuance and leveraging their advanced AI-image processing algorithms and US market presence, we see great potential for a continued roll-out of an exceptional offering, as well as an expansion into adjacent services for Diakrit.”

Together, the parties will continue to invest in an ambitious growth strategy by consolidating and growing market share organically across existing markets. The group will also continue to focus on their residential resale offering and further accelerate its dominance in each market through strategic acquisitions.

AQ Technology Partners acted as the Exclusive Financial Advisor to Diakrit in the transaction.

For further information:

Joel Russ, Adelis Equity Partners, joel.russ@adelisequity.com

John-Matias Uuttana, Adelis Equity Partners, john-matias.uuttana@adelisequity.com

Ken Brown, CEO, Diakrit, ken.brown@diakrit.com

Jeff Corn, CEO, Virtuance, jeff.corn@virtuance.com

About Diakrit

With over 20 years of experience globally, Diakrit provides real estate brokers with a strategic advantage in their markets. Founded in Sweden, Diakrit is proud to work with over 2,000 leading real estate brokerages across the world and help them successfully win more business and grow their brand through high-quality marketing content including magazine-quality photography, 2D and 3D floor plans, virtual tours, digital renovating and decorating tools, and video. Diakrit also provides social media advertising – coupling optimized and targeted campaigns with engaging marketing content. The social media ads ensure more people see the broker’s listing online and keeps their brand top-of-mind for anyone thinking of buying or selling in their market. For more information, please visit www.diakrit.com.

About Virtuance

Virtuance is a leading real estate visual marketing company founded in 2010 and the creator of HDReal®, an industry leading AI-powered image processing system. Virtuance automates key processes in real estate marketing, enabling real estate professionals to improve marketing effectiveness, differentiate their brand and drive results for their clients. For more information, please visit www.virtuance.com.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 31 platform investments and more than 130 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit www.adelisequity.com.

Categories: News

Alixio, the French leader in business transformation with significant human implications, joins forces with Ardian to accelerate its development

Ardian

 

Ardian, a world-leading private investment house, and the shareholders of Alixio have entered into exclusive negotiations with a view to Ardian acquiring a stake in the company’s capital.

Alixio, which is founded and chaired by Raymond Soubie, is the French leader in supporting companies with transformations having significant human implications. Its combined expertise in strategic consulting and operational services in human resources has made Alixio the partner of choice for a large range of small and medium-sized companies and public organizations.

With Ardian as a partner, Alixio aims to continue the strong growth that it has achieved since its creation (both organic and through targeted acquisitions), to consolidate its leadership in relevant markets and to expand its portfolio of businesses in value-add activities.

The acquisition will not change the operational governance structure of Alixio, which will remain chaired by Raymond Soubie. Philippe Vivien and Guillaume Allais will retain their respective positions as Vice President and General Manager.

The transaction is subject to a consultation process with the employee representative bodies of the entities concerned, as well as the approval of the French competition authority.

“Over the past ten years, Alixio’s partners and teams have been able to establish privileged relationships with our clients, understand their new challenges, translate them into organizational and human projects, and support them throughout their implementation. I am delighted to find in Ardian an ideal partner for the next stage of Alixio’s development; its cross-functional experience and international footprint will be strong assets for attracting new talent, supporting growth, acquiring skills or platforms for expansion in a world where changes are multiplying and intensifying every day.” Raymond Soubie, President and Founder of Alixio

“We are very pleased to support Alixio in the next stages of its development. Raymond Soubie has surrounded himself with a high-quality team, which has enabled the company to become the undisputed French leader in supporting companies in transformation. Knowing how to attract and manage talent is more important than ever and a key measure of success for companies. Our international network and know-how will enable us to accompany Alixio into a new phase of growth, both organically and through build-ups.” François Jerphagnon, Head of Ardian Expansion

 

ABOUT ALIXIO

Founded in 2010 by Raymond Soubie and several associates, Alixio, the French leader in supporting companies in their transformations with high human stakes, now employs nearly 750 people and has a turnover of 120 million euros in 2021. Its offer, which is based on a unique model combining consulting and services, covers five areas of expertise:

• Restructuring and social strategy
• HR performance and skills development
• Training
• Change Management and organization
• Health at work and QWL

https://www.alixio.fr/

 

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$125bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 850 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

https://www.ardian.com

PARTIES TO THE TRANSACTION

  • ARDIAN

    • MARIE ARNAUD-BATTANDIER, STÉPHAN TORRA, STEVEN BARROIS, LESLIE PARMAST, PAOLA ISMAIL
    • LEGAL ADVISORS: PAUL HASTINGS (OLIVIER DEREN, SÉBASTIEN CREPY, VINCENT NACINOVIC, ALLARD DE WAAL, THOMAS PULCINI, ALBAN CASTAREDE)
    • STRATEGIC DUE DILIGENCE: MCKINSEY & COMPANY (ALEXANDRE MÉNARD, CHARLES-HENRI RANNOU, BENJAMIN HOUSSARD, ELÉONORE DEPARDON)
    • FINANCIAL DUE DILIGENCE: EY (FRANÇOIS ESTIN, ELSA ABOU MRAD)
    • LEGAL, TAX AND LABOR DUE DILIGENCE: EY (JEAN-CHRISTOPHE SABOURIN, ANNE-ELISABETH COMBES, LIONEL BENANT, NEVENNA TODOROVA)
    • INSURANCE DUE DILIGENCE: FINAXY (DÉBORAH HAUCHEMAILLE)

  • ALIXIO

    • FINANCIAL ADVISORS: FABRICE MARTINEAU, DC ADVISORY (JEAN-CHRISTOPHE KAWAISHI, SOUFIANE DAOUIL, EMERIC MASUREL)
    • LEGAL ADVISORS: LAWWAYS (HORTENSE ROUVIER, LAURA PALLAVICINI)
    • MANAGEMENT ADVISORS: DELABY & DORISON (EMMANUEL DELABY), GCA (ALEXANDRE GAUDIN, GUILLAUME OGER)
    • STRATEGIC DUE DILIGENCE: INDEFI (JULIEN BERGER, MEHDI BELEFQIH)
    • FINANCIAL DUE DILIGENCE: EIGHT ADVISORY (ERIC DEMUYT, MATHIEU MORISOT, FRANÇOIS THOUMIE)
    • TAX DUE DILIGENCE: EIGHT ADVISORY (GUILLAUME REMBRY, HUBERT CHRISTOPHE, PRISCILLE BAIZEAU)

MEDIA CONTACTS

ALIXIO

MURIEL GREMILLET

muriel.gremillet@alixio.fr06 15 24 65 15

ARDIAN

HEADLAND

ardian@headlandconsultancy.com NLOAD PDF

 

Categories: News

Audax Private Equity Completes the Sale of Stonewall Kitchen to TA Associates

Audax Group

Audax Private Equity (“Audax”) today announced that it has completed the sale of Stonewall Kitchen (“Stonewall” or the “Company”), a leading provider of branded specialty food and home good products, to TA Associates.

Stonewall Kitchen

Established in 1991 and headquartered in York, Maine, Stonewall Kitchen serves its specialty food and home goods products to more than 8,500 wholesale accounts nationwide and internationally. In addition, Stonewall operates eleven retail locations throughout New England and provides its products through catalogs and an industry-leading direct-to-consumer website.

Since being acquired by Audax in 2019, Stonewall Kitchen has undergone a period of substantial transformation, growth, and success, including:

  • Bolstering the M&A platform with five add-on acquisitions, including Vermont Village®, Village Candle®, Urban Accents®, Vermont Coffee Company® and Michel Design Works®;
  • Expanding the Company’s product offerings in high-growth home goods segment; and
  • Driving significant growth across wholesale, branded retail and direct-to-consumer channels, including developing and launching a new corporate website and driving online cross-selling between acquired brands.

Jay Mitchell, Managing Director at Audax, said, “Stonewall is an iconic brand, and we were honored to partner with John Stiker and the entire Stonewall management team to help grow the business. Between add-on acquisitions and organic growth, the Company more than tripled in size over the past three years. We have enjoyed each and every day of our partnership with the entire Stonewall Kitchen team, and we look forward to following the Company’s continued success for many years to come.”

“Since day one, Audax has been aligned with and supportive of our growth strategy, mission, and core values,” said John Stiker, CEO of Stonewall Kitchen. “One of the reasons we were excited to partner with Audax was their focus on the Buy & Build strategy. We have transformed the Company from a primarily standalone brand to a family of brands within specialty food and home goods. We are grateful for the genuine partnership that our team had with Audax. It complemented our vision, helped us expand our capabilities and offerings, and took the Company to levels we could not have foreseen just a few years ago.”

Harris Williams is serving as lead financial advisor and Robert W. Baird is serving as a co-advisor. Kirkland & Ellis and Fredrikson & Byron P.A. are serving as legal advisors to Audax Private Equity.

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CVC Capital Partners Fund VIII to acquire RGI from Corsair

CVC Capital Partners

10 Mar 2022

Leading independent provider of insurance software solutions serves six of Europe’s 10 largest insurers

CVC today announced that CVC Capital Partners Fund VIII has agreed to acquire RGI (the “Company”), a leading independent provider of software solutions to the European insurance industry, from Corsair, a leading private equity firm targeting services, software, and payments investments in the financial services market. Terms of the transaction were not disclosed.

RGI provides insurers with a comprehensive and modular offering that addresses the entire insurance value chain, covering processes such as policy administration, claims, analytics, market management, reporting and sales, and distribution. RGI provides a wide range of cloud- software solutions serving Property & Casualty and Life insurance clients across Europe, with leadership positions in Italy, France, and Germany. The Company has an international, blue-chip customer portfolio covering insurance and corporate clients of all tiers, including six of the top ten European insurers.

Under Corsair’s ownership, RGI has realised significant organic and inorganic growth – including substantial progress in its shift to a SaaS-based offering as well as the 2019 acquisitions of Novum and Unimatica and the 2021 acquisition of Flexperto – evolving from a strong national player to a pan-European leader. CVC will support RGI’s management team in its future growth plans, which include further consolidating the fragmented insurance software industry and investing in the Company’s product offering and transition to a cloud-based platform.

“RGI is an outstanding company with an industry-leading technology platform and strong sector position. We are excited to be part of the Company’s journey going forward,” said Leif Lindbäck, Partner and Head of European TMT at CVC. “Having followed RGI for several years, we have been impressed by the growth that Cécile and her management team have achieved, transforming the Company into a pan-European insurance software leader.”

Giorgio De Palma, Partner at CVC Italy, added: “RGI is well-placed for further expansion, our vision for the future of the Company is fully aligned with the management team and we look forward to partnering with them to accelerate RGI’s growth and fully capture the significant market opportunity in Europe.”

Cécile André Leruste, RGI Group CEO, commented, “CVC has a wealth of experience and an impressive track record helping companies accelerate their growth. We’re delighted to have found another team whose values are aligned with our own and who are committed to our future as a leader in the digitisation of the European insurance market. On behalf of everyone at RGI, we’d like to thank Corsair for their invaluable guidance and support as we transformed our business under their stewardship.”

Raja Hadji-Touma and Edward Wertheim, Partner and Managing Director at Corsair, respectively, said, “This transaction is a reflection of RGI’s successful execution of its strategy to become a pan-European leader in insurance software, and the meaningful traction the Company has made in transitioning to a SaaS-based operating model with a comprehensive, industry-leading offering. We are grateful for our successful partnership with RGI and the many dedicated colleagues who have helped build an outstanding business that provides a full range of best-in-class and mission-critical solutions across the entire insurance value chain. We are confident the Company is in good hands and has a bright future with CVC.”

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Cinven agrees to acquire Bayer Environmental Science Professional

Cinven

International private equity firm Cinven today announces that it has signed an agreement with Bayer AG (ETR: BAYN) to acquire its Environmental Science Professional business for a total enterprise value of $2.6 billion (~€2.4 billion).

Bayer Environmental Science Professional (BESP) is a leading global provider of products and services to create healthier environments, to manage pests, and to eliminate vector-borne diseases, across a range of end-markets. BESP has an extensive product portfolio to manage pests (such as rodents, pest insects and invasive weeds) in a sustainable and responsible manner, including for the vegetation management, range and pasture, forestry and turf and ornamentals markets. In addition, BESP markets products to protect against vector-borne diseases such as malaria, and to promote public health objectives in the developing world.

Headquartered in Cary, North Carolina, USA, BESP has global operations with c. 800 employees and c. 2,000 product registrations, sold in more than 100 countries. BESP also has market-leading R&D capabilities, with four international R&D centres and more than 200 employees working in product innovation.

Cinven has longstanding relationships with large corporates in the Industrials sector, particularly in Germany and the DACH region, and an extensive track record of carving out businesses responsibly for all stakeholders, allowing Cinven to identify attractive opportunities and create new successful standalone companies.

Cinven’s Industrials Sector and DACH teams see BESP as an attractive investment opportunity, given the business’:

  • Resilient, growing and diversified end-markets, addressing an increasing societal demand for pest control and healthier, disease-free environments driven by higher living standards, urbanisation and climate change;
  • Leading market positions, underpinned by its strong science-led R&D capabilities, regulatory and Intellectual Property (‘IP’) protections;
  • Strong brands with an opportunity to accelerate organic growth through expansion into new geographies and new market segments;
  • Product portfolio with clear social and environmental benefits, consistent with the focus of Cinven’s ESG strategy, including products for improving public health outcomes, fighting vector-borne disease, controlling pest infestations, and reducing wildfire risks;
  • Longstanding relationships with professional customers, supported by its leading technical service capabilities;
  • Significant growth opportunities through further investment in R&D and in-licensing external IP to develop new sustainable products for pest management, including biological and digital technologies;
  • Consolidation opportunities in the fragmented specialty pest management sector through buy and build M&A; and
  • Experienced international leadership team, led by CEO Gilles Galliou, with responsibility for a highly qualified, high-performing global employee base.

Pontus Pettersson, Partner at Cinven, commented:

“Cinven is delighted by the opportunity to invest in Bayer Environmental Science Professional, a global leader in specialty pest management that serves critical needs for society across a broad range of end-markets. Cinven is excited to build an independent, focused company, and to extend BESP’s product portfolio further by creating innovative and sustainable solutions for its customers.

“Following Cinven’s recent acquisitions of TK Elevator and Arxada, Cinven is confirmed as a preferred partner for large European corporates on significant disposals, especially within the Industrials sector. Bayer has been an exemplary custodian of the business, and we look forward to continued close collaboration between BESP and Bayer.”

Anthony Cardona, Partner at Cinven, added:

“Bayer Environmental Science Professional enjoys strong positions in multiple markets across the world, driven by its best-in-class scientific and regulatory teams, well regarded brands, and leading technical service capabilities. Cinven has been impressed by the quality of the team and operations, and this transaction should create significant opportunities across the business.

“Cinven shares management’s ambitious growth agenda and views BESP as a platform investment, with scope to grow the business significantly and broaden its product portfolio through acquisitions and strategic partnerships.”

Gilles Galliou, CEO of BESP, added:

“Everything we do at Environmental Science Professional is guided by our vision of healthy environments for everyone everywhere. Cinven clearly shares this vision for our organisation and Cinven has demonstrated that it is committed to the long-term success of our business and would be a great home for our employees.

“With the support and backing of Cinven, I am thrilled for the opportunity for Environmental Science Professional to become even more growth-oriented, with a full focus on advancing innovations that meet the unique and evolving needs of our customers around the world.”

Cinven is one of the leading investors in carve-outs from Industrial companies in Europe. The Cinven funds’ investment in BESP, acquired from the German-listed Bayer AG, builds on its recent experience of carving out TK Elevator from thyssenkrupp AG and Arxada (formerly Lonza Specialty Ingredients) from Lonza Group AG.

Cinven is also one of the most active and successful investors in Germany and the wider DACH region. Other recent investments of Cinven funds in Germany include STADA, Synlab, think-cell and Viridium.

Cinven is a responsible, ESG-focused investor, and committed to maintaining the environmental, regulatory and employee stakeholder responsibilities of BESP. Under the Cinven funds’ ownership, BESP will remain an important partner of Bayer AG and will collaborate closely with Bayer going forward in several areas.

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New Stack closes $42.6M Fund II

New Stack Ventures
March 10, 2022 · New Stack

Today we are announcing the closing of our newest fund — New Stack Ventures Fund II — a $42.6M fund supporting exceptional founders from outside the typical VC-Backed profile and pedigree. Following our first fund of $6M in 2018, our new fund allows us the freedom to invest in an additional 35 companies across the spectrum of Pre-Seed and Seed.

The New Stack Team: Austin Ju, Nate Pierotti, Nick Moran, Zeke Trezise, J.R. Moran

As covered first by TechCrunch, Fund II is continuation of our mission to break traditional tech stereotypes and provide greater transparency to the capital raising process. It’s been a long road. As G.P. Nick Moran recounts to TechCrunch:

A lot of ingredients have to come together for it to work — a founder network, a talent network and a capital network. Raising the first fund, the thesis of investing in outsiders and the middle of the country was a difficult task. We just closed the second raise, and the thesis landed, and we have 100 investors and people who are motivated and excited. We think the bigger story is the migration of Midwesterners back to the Midwest who had to locate in the Bay Area for work. That has been a huge tailwind for us.

We are proud to now be one of the largest single-partner U.S. funds ever raised between the coasts, but we’re not done yet. We’re hiring and growing our team. If you’d like to join us on this journey of backing founders outside of the typical Silicon Valley profile, please feel free to reach out to us. We’re Team@newstack.vc.

For more on our philosophy and the startups we choose to invest in, visit our website or check out the Full Ratchet Podcast or read more about us in the news below.

“Early-stage venture fund New Stack Ventures just raised $42.6 million for its second fund aimed at injecting capital into founders that don’t come from the educational pedigree or location that we typically see with entrepreneurs…”

 

Categories: News

AEVIS VICTORIA SA sells its participation in Medgate to Otto Group

Aevis Victoria
March 10, 2022 | 5:45 pm CEST
Ad Hoc

AEVIS VICTORIA SA / Key word(s): Disposal

10-March-2022 / 17:45 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 LR

The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

Fribourg, 10 March 2022

AEVIS VICTORIA SA sells its participation in Medgate to Otto Group

In 2016, the investment company AEVIS VICTORIA SA (AEVIS) acquired a 40% minority stake in Medgate Group, which has now become the leading telemedicine provider in Switzerland with over 20 years of experience. AEVIS has accompanied and financially supported the development of Medgate for 6 years, allowing the creation of a key player in the telemedicine sector in Europe. In the context of a financing round initiated by Medgate in 2021 to finance various acquisitions, amongst others in Germany, AEVIS has sold its participation to the German Otto Group, which will take over this role and accompany Medgate for its further expansion. The proceeds of the sale will significantly strengthen AEVIS’s financial capacity and will be redeployed in its investment activities. The parties have agreed not to disclose the details of the transaction.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA – Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA (90%, directly and indirectly), the only Swiss private network of hospitals present in the country’s three main language regions, Victoria-Jungfrau AG, a luxury hotel group managing ten luxury hotels in Switzerland and abroad, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, Swiss Hotel Properties SA, a hospitality real estate division, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.

 

Additional features:

File: AEVIS VICTORIA SA sells its participation in Medgate to Otto Group

End of ad hoc announcement

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Audax Private Equity Completes the Sale of Smart Care Equipment Solutions to Zone Climate Services

Audax Group

Audax Private Equity (“Audax”) today announced that it has completed the sale of Smart Care Equipment Solutions (“Smart Care” or the “Company”), a leading provider of commercial kitchen equipment maintenance services, to Zone Climate Services, a provider of mission-critical refrigeration and HVAC services that is backed by Wind Point Partners. Financial terms of the transaction were not disclosed.

Headquartered in Minneapolis / St. Paul, Minnesota, Smart Care helps some of the largest and most selective foodservice brands maximize revenue and deliver their brand promise by providing repair and maintenance services that help ensure their customers’ commercial kitchen equipment is operational. Working in partnership with Audax, the Smart Care team executed on Audax’ Buy & Build strategy, completing 14 add-on acquisitions, growing to over 1,400 employees, and completing over 350,000 service events annually.

Since partnering with Audax in November 2017, Smart Care delivered this transformational growth and value creation by:

  • Successfully carving out the business from a Fortune 250 company, which included establishing the new Smart Care brand, building essential functional teams, and adding capabilities required to help deliver on ambitious growth targets.
  • Transforming Smart Care into a strategic asset with significant investments in talent and a world class IT infrastructure, including proprietary reporting that enables customers to maximize uptime and reduce operating costs.
  • Leveraging investments in sales and innovation to drive organic growth.
  • Acquiring 14 service companies that strengthened Smart Care’s core service offering, while entering two adjacent markets to better serve customers.

Don Bramley, Managing Director at Audax, said, “We are proud of the business we built working with the Smart Care team. From the start, we were aligned on how we would execute our Buy & Build strategy to help create a company that would deliver value for Smart Care’s customers, associates, communities, and investors. We wish Bill Emory, Smart Care’s CEO, and the entire Smart Care organization continued success as they embark on their next chapter of growth.”

Bill Emory added, “My Team and I feel very fortunate to have had Audax as a partner over the past four years. They played a critical role in our success by providing unmatched operational expertise and deep business acumen where we needed them. In short, our success is a direct reflection of what Don and his Team brought to Smart Care and they share equally in our success. Looking forward, we are excited partner with Zone Climate Services to continue to execute on our growth strategy. As I move into a new role as Smart Care Equipment Solution’s Chairman, I am excited to work closely with Smart Care’s talented and new CEO, Henry Lees-Buckley, who will manage the combined organization.”

Harris Williams served as financial advisor and Ropes & Gray served as legal advisor to Audax Private Equity.

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InfraVia closes its new infrastructure fund at €5bn hard cap

InfraVia

InfraVia Capital Partners announced today that it has successfully closed its 5th infrastructure fund, InfraVia European Fund V, at its €5bn hard cap.

  • With the closing of InfraVia European Fund V, InfraVia reaches a total of €10bn in capital commitments
  • InfraVia European Fund V saw strong demand from investors globally and was oversubscribed reaching a €5bn hard cap
  • InfraVia is well placed to continue to deploy its strategy of investing for resilience and value creation
  • InfraVia supports European infrastructure businesses in their growth plans and creates more sustainable companies in the process
  • InfraVia focuses on 4 main areas: digital infrastructure, energy transition, social infrastructure and mobility

With the closing of InfraVia European Fund V, InfraVia has now raised a total of €10bn in commitments across a diversified LP base of over 150 investors from across the globe – Europe, North America, South America, Asia and the Middle East.

Demonstrating support for the asset class and recognition of the firm’s investment strategy and track record in value creation, InfraVia European Fund V saw strong demand from a wide variety of investors globally including insurance companies, pension funds as well as Family Offices and private banks. Despite the challenging Covid environment, the fund was significantly oversubscribed and exceeded its original €3bn target to reach a €5bn hard cap.

Vincent Levita, Founder and CEO of InfraVia declares: “We are extremely proud of this fundraising testament not only to the resilience of the asset class and the excellent track record of the team but also to the depth and strength of our relationships. Over half of commitments came from our existing client base, representing a 100% re-up rate, and we are also very proud to have been able to onboard so many new investors in such a challenging period. We are truly humbled by the continued support for our platform.”

InfraVia has delivered a solid track record in European infrastructure over the last 14 years focusing on digital infrastructure, energy transition, social infrastructure and mobility. Fund V will aim to continue to implement the same successful platform strategy as that of prior funds, focusing on European mid-market infrastructure assets that display resilient characteristics and present significant value creation potential. The fund will also continue to build on the team’s successful active asset management approach looking specifically at ESG, talent
management and digitalization to further drive value creation. InfraVia European Fund V is categorized as Article 8 under SFDR reflecting InfraVia’s longstanding approach of integrating sustainability throughout its investment process.

The fund has already been able to seize a number of investment opportunities closing its first investment – Grandir, a leading childcare and early education operator in September 2021. The fund has subsequently made two further investments in communications infrastructure, first announcing a JV with Liberty Global to develop FTTH in rural Germany in December and recently announcing a third investment in Ireland, Fibre Networks Ireland, that is expected to close in
Q2 2022.

Bruno Candès, Partner at InfraVia concludes: “Infrastructure has proven its resilience as an asset class and we expect it will play an increasingly important role in the post-covid economy. We continue to see significant opportunity to invest and with this new fund, we will continue to partner with infrastructure businesses to help them develop and grow, delivering long-term value for our investors as well as the economies in which they operate.”

InfraVia has been advised for this fundraising by First Avenue Partners (placement agent) and by Simmons & Simmons (legal).

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PRESS CONTACTS

INFRAVIA
Vincent LEVITA Founder and CEO
vlevita@infraviacapital.com
+33 (0)1 40 68 17 38

TADDEO
Antoine Denry
antoine.denry@taddeo.fr
+33 (0) 6 18 07 83 27

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Cinven completes acquisition of majority investment in Arcaplanet and Maxi Zoo Italia

Cinven

International private equity firm Cinven today announces that it has completed the acquisition of a majority stake in Arcaplanet, a leading operator of pet care stores in Italy.

Following the completion of this transaction, Cinven and the Fressnapf Group will combine Arcaplanet with Maxi Zoo to create the Arcaplanet Group.

Headquartered in Italy, Maxi Zoo Italia was founded in 2005. As part of the Fressnapf Group its first store opened in Treviso, Veneto region, in 2005 and Maxi Zoo is now present in 12 regions across Italy with 144 stores, an online presence and revenue of over 193 million euros in 2021.

Headquartered in Italy, Arcaplanet was founded in 1995. Its first store opened in Chiavari, Liguria, in 1998 and Arcaplanet is now present in 17 regions across Italy with nearly 400 stores, a strong online presence and revenue of over 400 million euros in 2021.

The combined Arcaplanet and Maxi Zoo Italia businesses (together the ‘Group’) will be offering food and non-food pet care products in c. 500 stores across Italy and online.

Cinven was attracted by the opportunity as Arcaplanet is a strong and well-recognised pet care brand with an excellent customer proposition. Cinven aims to accelerate the Group’s growth both in the Italian market and new geographies. Online penetration of pet care in Italy is fast-growing and there is considerable potential to accelerate and improve the Group’s digital and omnichannel strategy.

Cinven has significant expertise in the pet care market through the Cinven funds’ investment in Partner in Pet Food, a leading European pet food platform and market consolidator.

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