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Fronnt boosts its ambitious growth trajectory and energy transition mission with the entry of three new leading installation companies

GIMV

Fronnt, a group of installation companies founded in partnership with Gimv, welcomes three more leading installation companies. Besides the acquisition of Electro Verbeke in Deinze, Van Vooren/Setec in Bruges and TAC! (The Airconditioning Company) in Wilrijk join the group thanks to the pooling of forces with the investment company Tilleghem. Together they aim to accelerate the energy transition in Flanders.

Making buildings and industrial processes more energy efficient, electrifying heating and mobility, and implementing new technologies and business models are crucial to the success of the energy transition. For this, various technologies such as heat pumps, charging stations, solar panels and batteries must be able to interact with each other. Currently, this complexity is still too much placed on the customer. In response, Fronnt wants to completely unburden the customer by offering a multi-technical approach. To this end, Gimv and Fronnt bring together medium-sized installation companies, often of family origin, with a great deal of relevant knowledge and experience, based on the conviction that these forerunners, or “Fronntrunners”, can be even stronger in a larger context while retaining their own unique identity and customer service.

Fronnt was initially created in the first half of 2022 with the acquisitions of Lenaerts/LVR and ABN Klimatisatie. Not much later, Climawest and Sanitel also joined the group. Now, Fronnt is pleased to announce a further expansion of the group with the addition of Electro Verbeke, Van Vooren/Setec and TAC!. The acquisitions of the latter two companies came about through a joining of forces with the investment company Tilleghem. As a result, Tilleghem also becomes a shareholder of Fronnt to realise together with Gimv, the mission to make Fronnt the leading group of installation companies in Flanders.

Geert Fostier, CEO of Fronnt, on this important step forward: “Last year, in July, the first two companies jumped on the Fronnt-train, and shortly afterwards Climawest. With Van Vooren/Setec and Electro Verbeke we bring on board two companies specialised in electrical work, data systems and automation. TAC! (The Airconditioning Company) is a quality partner for HVAC and plumbing. Together with our existing companies, they further strengthen Fronnt’s DNA: guiding our customers through their energy transition by means of our integrated multi-technical approach. These three companies will find in Fronnt a large, stable and healthy group where they experience the benefits and operation of an SME.”

Ruben Monballieu, Partner at Gimv Sustainable Cities, adds: “These acquisitions mark an important step forward in our ambition to build a leading group of installation companies. We are excited about the growth trajectory we have achieved so far and look forward to further strengthening Fronnt and providing solutions to the challenges posed by the energy transition together with Tilleghem and all the passionate Fronnt entrepreneurs.”

Piet Van Waes, Partner at Tilleghem: “We are enthusiastic to join forces with Gimv, Fronnt and its cluster of strong installation companies. Our vision and strategy fit seamlessly with the path mapped out by the Fronnt managers and entrepreneurs. We share the ambition to build Fronnt into a sustainable and innovative player in the ecosystem of multifunctional installations and energy transition”.

 

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Axel Mörner new Board member of Nordstjernan AB

Nordstjernan

At today’s Annual General Meeting of Nordstjernan, the following Board members were re-elected: Viveca Ax:son Johnson (Chairman), Johan Blomquist, Peter Leimdörfer, Tomas Nicolin and Christoph Vitzthum. Axel Mörner was elected new Board member and Vice Chairman. Caroline Berg has declined re-election after serving as Board member and Vice Chairman for seven years.

Axel Mörner has a background as Investment Director of Axel Johnson Inc. (US) and has held a number of management roles at Axfood, but also has many years of experience from Board work in both entrepreneurial and investment companies. Today, Axel Mörner is Chairman of Axel Johnson Inc. and a Board member of AxSol, Swedish-American Chamber of Commerce New York, the investment council for Altocumulus Asset Management, the Axel and Margaret Ax:son Johnson Foundation for Public Benefit and so forth.

 

“We are very pleased that Axel, with his experience and international perspective, has decided to join the Board and contribute to Nordstjernan’s new investment strategy. He belongs to the fifth generation of our family to now become involved in the company, which ensures a high level of continuity that we and other owners appreciate,” says Viveca Ax:son Johnson, Chairman of the Axel and Margaret Ax:son Johnson Foundation for Public Benefit and Caroline Berg, Chairman of the Axel and Margaret Ax:son Johnson Foundation.

 

“It is both a great honor and a pleasure to be elected to Nordstjernan’s Board. I am very much looking forward to working together with Viveca and the rest of the Board and thereby contributing to Nordstjernan in the future,” says Axel Mörner.

 

Questions will be answered by:

 

Stefan Stern, Head of Communications, Nordstjernan

Mobile: +46 70 636 74 17

E-mail: stefan.stern@nordstjernan.se

 

 

Nordstjernan is predominantly owned by the Axel and Margaret Ax:son Johnson Foundations. Since its establishment in 1890, Nordstjernan has owned and developed hundreds of companies in a range of industries. Today, Nordstjernan has investments in more than 20 companies in five focused sectors. Together, these companies have sales of SEK 130 billion and employ more than 50,000 people. Read more on www.nordstjernan.se.

Categories: People

Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joane Binstock to board of Directors

Clearlake

Pittsburgh, PA, April 24, 2023 – Confluence Technologies, Inc. (“Confluence”), a global software provider helping the investment management industry solve complex investment data challenges, today announced that Joan Binstock has joined its board of directors. Confluence is backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and TA Associates (“TA”).

 

Ms. Binstock brings more than 30 years of experience in the asset management industry. She currently serves as Independent Director and Audit Chair at KKR Real Estate Select Trust Inc., as well as a Board Member at both Morgan Stanley Direct Lending Fund, and Brown Brothers Harriman US Mutual Funds.

 

“We are thrilled to have Joan join our board,” said Mark Evans, CEO of Confluence. “Her extensive experience in the asset management industry, across a broad set of asset classes and working with multiple technology providers, is invaluable as we continue to expand our solutions to better serve the investment management industry.”

 

Ms. Binstock previously held several executive leadership positions, including as Partner, Chief Financial and Operations Officer at Lord, Abbett & Co. LLC. She also serves as a Board Member for various non-profit organizations and educational institutions, including Year Up, Bronx High School of Science, and the Duke University School of Medicine. Ms. Binstock holds a bachelor’s degree from Binghamton University and an MBA from the NYU Stern School of Business.

 

“I am excited to join the board of Confluence,” said Ms. Binstock. “Confluence has a strong reputation in the industry for providing innovative and proven solutions that help customers in the asset management industry navigate regulatory compliance and make better investment decisions. I look forward to working with the team to continue to drive growth and success for the company.”

 


About Confluence

Confluence is a leading global technology solutions provider committed to helping the investment management industry solve complex data challenges across the front, middle and back offices. From data-driven portfolio analytics to compliance and regulatory solutions, including investment insights and research, Confluence invests in the latest technology to meet the evolving needs of asset managers, asset owners, asset services, and asset allocators to provide best-of-breed solutions that deliver maximum scalability, speed, and flexibility, while reducing risk and increasing efficiency. Headquartered in Pittsburgh, PA, with 15 offices across the United Kingdom, Europe, North America, South Africa, and Australia, Confluence services over 1000 clients in more than 40 countries. For more information, visit  www.confluence.com.

 

About Clearlake

Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.®. The firm’s core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.

 

About TA Associates

TA Associates (“TA”) is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $48.6 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. For more information, visit www.ta.com.

 

Media Contacts:
For Confluence:

Vanja Lakic

Vanja.lakic@cognitomedia.com  

 

For Clearlake:

Jennifer Hurson

jhurson@lambert.com

 

For TA Associates:

Marcia O’Carroll

mocarroll@ta.com

Categories: People

Waystone Group to acquire Link Fund Solutions

Montagu

24.04.2023

This transaction is a major milestone for both companies. Waystone’s goal is to work with investment managers and fund sponsors to build and support fund structures, and to protect the interest of fund investors. Today’s acquisition will boost Waystone’s ability to service a broader pool of investment managers and sponsors and bring a greater number of products and services to them.

The acquisition, which follows Waystone’s acquisition of T. Bailey Fund Services in 2022, will broaden Waystone’s UK offering to include alternative administration. In addition, it further expands the Group’s administration offering following its acquisition of Centaur Fund Administration in January 2023, together with a further strengthening of the Group’s Irish Management Company (“ManCo”) offering following the acquisition of KB Associates in 2022. It will also add over US$190bn in assets under oversight and administration, and see 600 staff globally join Waystone, including the establishment of the Group’s first office in India where it will now have around 150 employees.

By coming together with Waystone, the sponsors, investment managers and their underlying investors will benefit from a stable and sustainable foundation as Waystone continues to grow in Ireland, the UK and beyond, providing the opportunity to grow existing funds, launch new products and better serve their investors and the wider investment community.

Rachel Wheeler, CEO Global Management Company Solutions for Waystone, said: “We believe that Waystone is uniquely positioned to take LFS forward, providing quality global solutions to support its fund sponsors, investment managers and their underlying investors. We look forward to fully supporting the LFS team and enabling them to focus on continuing to provide exceptional service.”

We believe that Waystone is uniquely positioned to take LFS forward, providing quality global solutions to support its fund sponsors, investment managers and their underlying investors.

Rachel Wheeler, CEO Global Management Company Solutions, Waystone

Karl Midl, CEO of LFS, added: “We are delighted to be joining Waystone who are well known as a leading European fund services provider in our industry. The diversity of our client base requires significant investment in product enhancement – joining Waystone will allow us to further develop and expand our offering and invest in supporting our clients’ needs as they too continue to evolve and grow.  We look forward to working with Waystone to continue to build the confidence of asset managers, asset owners and investors in the fund market.”

We are delighted to be joining Waystone who are well known as a leading European fund services provider in our industry.

Karl Midl, CEO, LFS

Nancy Lewis, Executive Chairman, Waystone said: “The LFS acquisition further underscores Waystone’s strategic ambition of becoming a global leader in asset servicing. With our dual strategy of external and organic growth, driven by strong leadership and senior management, we will continue to expand our reach and deepen the quality of services we offer worldwide. We’d like to thank the teams involved at LFS, Waystone, the relevant Regulators, and all the other partners that have worked to successfully achieve this outcome.”

The LFS acquisition further underscores Waystone’s strategic ambition of becoming a global leader in asset servicing. With our dual strategy of external and organic growth, driven by strong leadership and senior management, we will continue to expand our reach and deepen the quality of services we offer worldwide.

Nancy Lewis, Executive Chairman, Waystone

Categories: News

CapMan to publish its 1 – 3 2023 Interim Report on Friday 28 April 2023

Capman

CapMan Plc press release                              

21 April 2023 at 11:45 a.m. EEST

CapMan to publish its 1 – 3 2023 Interim Report on Friday 28 April 2023

CapMan will publish its interim report for the period 1 January–31 March 2023 on Friday 28 April 2023 around 8.00 a.m. EEST. The company will present the results for the review period over a webcast press conference starting at 9.30 a.m. EEST accessible at https://capman.videosync.fi/2023-q1-results/. The conference will be held in English. The report and presentation material will be available at CapMan’s website after the publication (https://www.capman.com/shareholders/financial-reports/).

For further information, please contact:
Linda Tierala, Director, Communications and IR, tel. +358 40 571 7895, linda.tierala@capman.com

Webcast:
28 February 2023 at 9.30 a.m. EEST
https://capman.videosync.fi/2023-q1-results/
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5  billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com. 

Categories: News

Herkules IV divests PTC to Interwell

Hercules Capital
On 21 April 2022, Herkules IV entered into an agreement to sell PTC, a global provider of downhole and wellhead technology products, to Interwell. Interwell is privately held provider of oilfield technology products, headquartered in Stavanger, Norway. Intwerell is owned by Ferd and the Interwell management.
PTC is a leading developer and supplier of premium gas lift and wellhead products that enhance well integrity, safety, reliability and productivity for oil companies. The company has a large, patent protected product portfolio developed in close relationship with customers facing well-related challenges offshore. Herkules has owned the company together with the founders and other employees.During Herkules IV’s ownership period, PTC has grown revenues from NOK 202 million in 2013 to NOK 502 million in 2021. In this period, the company has experienced two major industry downturns and a global pandemic that has had material negative impacts on the company.
In 2014-2016, the company experienced the first industry downturn during Herkules IV’s ownership. During this period, it was decided that the company was to continue to invest in developing and expanding its portfolio of unique technology products. In addition, the company was to invest in obtaining industry leading safety and quality certifications on its products. The decision to continue to invest during those challenging times has proven to a key factor in the company’s success since 2016. Since 2016, PTC has successful expanded its addressable market and gained momentum in several new markets

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Tomi Alén becomes Partner at CapMan Growth

Capman

CapMan Growth press release 20.04.2023 at 9.00 AM EEST

Tomi Alén becomes Partner at CapMan Growth

Tomi Alén has been appointed as Partner at CapMan Growth as of 5.6.2023.

Alén joins CapMan from one of Finland’s top growth companies, RELEX Solutions, where he has for the past two years worked in the role of Senior Vice President Strategy and Corporate Development as part of the company’s extended leadership team. Alén has led the team focusing on the company’s strategy, strategic initiatives, add-on acquisitions, fundraising and investor relations. Through his new role Alén returns to his roots in private equity. Before joining RELEX Solutions he worked for over seven years at CapMan Buyout, lastly as Investment Director. During this time, Alén served as a board member of Havator and Forenom among others. Prior to this, he worked in management consulting at Boston Consulting Group.

”I am very happy to welcome Tomi back to CapMan and as a part of our team at Growth. Tomi’s operative experience in leading a growth company and managing larger mergers and acquisitions, complements our team perfectly. He brings along with him a robust experience from private equity investing, consulting, as well as building growth companies and working with entrepreneurs”, comments Antti Kummu, Managing Partner at CapMan Growth.

”During the last two years I have collected valuable and concrete experience of day-to-day operations at a growth company and had the opportunity to work with worldclass growth investors. During this time, RELEX has grown into a global leader in its field while I’ve had the honour to, amongst other things, manage Finland’s largest growth company fundraising round and a few strategic acquisitions in addition to the regular strategic development. Now, I am excited about my new role in growth investing. Returning to CapMan feels like coming home, as a large part of the team is familiar to me from before, and I look forward to getting to work with them.”, says Tomi Alén.

CapMan Growth is a leading Nordic growth investor making significant minority investments in companies targeting strong growth and internationalisation. As active investors, the team works closely with management and owners to help realize their growth ambitions.

For more information, please contact:

Antti Kummu, Managing Partner, CapMan Growth, tel. +358 50 432 4486

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs approximately 190 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com

Photo: Emma Suominen

Categories: People

Retein closes SEK 11 million financing round to enable efficient recovery of clean water

Industriefonden

The Swedish company Retein that has developed a patented technology for water separation today announced the successful closing of their latest financing round. The company is being backed by Industrifonden, Butterfly Ventures, Navigare Ventures, and existing owner Chalmers Ventures. The new financing will bring their technology one step closer to industry and people in need.

Retein, until recently named Aquammodate, was founded in 2019 and has developed a patented technology for energy-efficient and high purity water separation. The technology has the potential to reduce the cost for recovering clean water and have lower impact on the environment than traditional methods. The new investment will be used to increase the production of stabilized aquaporins and finalize the development of a filtration module with embedded aquaporins.

Simon Isaksson, co-founder and CEO at Retein, said: “We are excited to welcome Industrifonden, Butterfly Ventures, and Navigare Ventures on board our journey towards enabling sustainable reuse of resources such as clean water. Their extensive experience in scaling and advancing deep tech solutions adds additional strength on our path to realize the transformational potential of our solution”.

The patented molecular separation technology was initially developed over the course of Simon Isaksson’s PhD project under the supervision of Retein co-founder professor Martin Andersson, at Chalmers University of Technology. The foundation of the technology is a biomimetic approach to water separation, as the company has taken inspiration by how aquaporins function in diatoms. The proprietary silica stabilization allows the aquaporins to be used as an additive to various kinds of filters on a wide range of scales.

Iliam Barkino, Principal at Industrifonden, said: “We’re proud to back the team at Retein and their unique technology based on impressive science from Chalmers University of Technology. They are truly unique in the way they have been able to stabilize aquaporins in a similar way that algae do, and we believe in the team that has a mix of highly qualified technological expertise and entrepreneurial experience.”

Learn more at retein.tech ↗

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EQT Private Equity to sell kfzteile24, a leading eCommerce platform for automotive spare parts and accessories in Germany

eqt

EQT Private Equity sells kfzteile24 to an investment consortium consisting of the Company’s Management, Project A Ventures, Koehler Group and a group of technology investors (“SB21”)

Under EQT’s ownership, kfzteile24 has made substantial investments in its digital platform and logistics infrastructure to support its growth trajectory and operational efficiency

The Company has expanded its online offering from around one million to around three million products, has significantly grown its B2B customer base and also initiated international expansion

EQT is pleased to announce that the EQT Mid Market fund (“EQT Private Equity”) has agreed to sell kfzteile24 (the “Company”) to an investment consortium consisting of the Company’s Management, Project A Ventures, Koehler Group and a group of technology investors (“SB21”).

Founded in 2001 and headquartered in Berlin, kfzteile24 is a leading eCommerce platform for automotive spare parts and accessories in Germany. In addition to its online webshop and app, kfzteile24 operates three retail stores with affiliated repair shops in Berlin to supplement the online distribution. kfzteile24 is positioned within the large independent automotive aftermarket, which sees a healthy and steady growth outlook driven by increasing online adoption and a growing and aging car fleet in Germany.

EQT Private Equity acquired kfzteile24 from its founders in October 2015. During EQT’s ownership, kfzteile24 has made substantial investments in its digital platform and logistics infrastructure to support its growth trajectory and operational efficiency. The Company has expanded its online offering from around one million to around three million products (including one of the largest online e-mobility product range in Germany), has significantly grown its B2B customer base, and also initiated international expansion.

Vesa Koskinen, Partner within EQT Private Equity’s Advisory Team, said, “The Company’s management team has played an instrumental role in developing kfzteile24 to a leading digital automotive spare parts platform with excellent operational capabilities. We believe kfzteile24 is in great hands and has a bright future ahead.”

Markus Winter, CEO of kfzteile24, said “We are very grateful for EQT’s extensive support, which enabled us to turn kfzteile24 into the successful and profitable omnichannel company it is today. Our strong digital platform has been key to the rapid expansion of the direct delivery business for commercial customers. EQT has been a great partner and helped to position kfzteile24 for the long-term. We are excited for what the future holds.”

The closing of the transaction took place on 20 April 2023.

Contact

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

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BURE comments on the merger between ACQ BURE AB and YUBICO AB

Bure

Based on today’s information regarding the merger between ACQ Bure AB (“ACQ”) and Yubico AB (“Yubico”), Bure’s ownership in Yubico after completion of the transaction will increase to 17.4% given the terms and assumptions set out in ACQ’s press release.

  • The Swedish acquisition company ACQ was established on the initiative of Bure Equity (“Bure”) and was listed on Nasdaq Stockholm in March 2021. ACQ has focused on finding an unlisted, sustainable, Nordic technology-based quality company that operates in a market with strong potential or in a niche market where the target company has a leading position.
  • Yubico is a global leading provider of hardware-based multi-factor authentication solutions, which protects against use of stolen identities. Yubico was founded in 2007 by Stina and Jakob Ehrensvärd, and its customer base spans approximately 160 countries. To date, the company’s core product, the YubiKey, has been sold in over 22 million units worldwide and it is currently used by many of the world’s largest enterprises.
  • Bure owns 20% in ACQ since 2021 and has been an owner of Yubico since 2017, when Bure acquired a minority stake. Since 2017, Bure has continued to invest in Yubico and today, Bure has an ownership stake of 15.3% in the company on a fully-diluted basis. Following the merger between ACQ and Yubico, Bure’s ownership in the combined company, which will change name to Yubico, will amount to 17.4% (given the terms and assumptions set out in ACQ’s press release). Hence, Bure will become the company’s largest shareholder.
  • As an owner of both Yubico and ACQ, Bure has a conflict of interest. Patrik Tigerschiöld and Sarah McPhee, board members of both Bure and ACQ, as well as Henrik Blomquist, the CEO of both Bure and ACQ, have therefore not participated, and will not participate, in the board of ACQ‘s resolutions to approve of the transaction or enter into the merger plan and the merger agreement, nor have they participated in the board’s deliberations regarding such resolutions. The non-conflicted board members in ACQ’s board of directors have thus managed the resolutions, and the deliberations regarding the resolutions, concerning the transaction.
  • The final decision on whether the transaction should be completed will be made by ACQ’s shareholders at ACQ’s extraordinary general meeting around June 20, 2023.
  • Bure is supporting the merger and has committed to vote in favour of the merger at the extraordinary general meetings.
  • Bure has accepted a lock-up period of 365 days from the date of completion of the transaction, meaning Bure has accepted to not sell its shareholding in ACQ during this period. The transaction is expected to be completed during the third quarter of 2023.
  • The merger consideration to the shareholders in Yubico consists of 42% payment in cash and 58% payment in newly issued shares in ACQ. As a shareholder in Yubico, Bure will receive 8,064,674 new shares in ACQ, and SEK 579 million in cash. Bure thereby has 15,064,674 shares after the transaction and hence increases its ownership in Yubico of 15.3% to 17.4% after completion of the merger.
  • As a sponsor in ACQ, Bure holds 4,200,000 sponsor warrants in the merged company. The sponsor warrants can be exercised for subscription of shares no earlier than 1 April 2026 and no later than 1 April 2031 with a strike price of SEK 130. This means that Bure can reach a maximum ownership of 21.2% in Yubico.
  • Bure intends to propose Patrik Tigerschiöld as Chairman of the Board of Yubico.

Patrik Tigerschiöld, Chairman of the Board of Bure, comments:

“Stina and Jakob Ehrensvärd have been extremely successful entrepreneurs and company builders, as they have developed Yubico into a world-leading player in the global cybersecurity market. I am very pleased that a quality company like Yubico chooses to become listed in Sweden, and I am looking forward to continuing the Yubico journey together with its founders, employees, and other shareholders”.

“The fact that Bure has been an owner of Yubico since 2017 has added a layer of complexity in the transaction process. Given the circumstances, special requirements have been placed on the decision-making process and deliberations. The non-conflicted members of ACQ’s board have been responsible for making the decisions concerning the transaction, while Bure’s representatives with conflicts of interest have not been involved in these particular activities. Lastly, it is important to note that the final decision on whether the transaction should be carried out will be made by ACQ’s shareholders at the extraordinary general meeting”.

For more information, contact

Henrik Blomquist, CEO
henrik.blomquist@bure.se
Telephone: +46 (0) 8-614 00 20

This information is information that Bure Equity AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-04-19 07:15 CEST.

Attachments

BURE COMMENTS ON THE MERGER BETWEEN ACQ BURE AB AND YUBICO AB

Categories: News