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Ratos strengthen its cash position in the continued growth journey – divests all shares in Dun & Bradstreet

Ratos

Ratos has divested all its 4,358,257 shares in Dun & Bradstreet to a value of approximately SEK 725m.

The shares accounted for 25 percent of the purchase price when Ratos divested Bisnode to Dun & Bradstreet for a purchase price based on an approximate enterprise value of SEK 7,200m, representing an EV/EBITA multiple of 13,8x, in 2020.

The deal will have a negative impact on Ratos’s EBITA for the second quarter 2022 of approximately SEK 18m.

“Ratos’s value creation is based on, among other things, organic growth and industrially sound acquisitions. Through the sale of the Dun & Bradstreet shares, we are further strengthening our cash position for the continued growth journey” says Jonas Wiström, President and CEO, Ratos.

Jonas Wiström will continue to be part of the Dun & Bradstreet International Strategic Advisory Board. Dun & Bradstreet is listed on the New York Stock Exchange.

For further information:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 14 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2021, the companies have approximately SEK 25 billion in net sales. Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

 

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DEVO announces $100 million funding round

Isai

Cloud-Native Logging and Security Analytics Leader Boosts Valuation to $2 Billion.

CAMBRIDGE, Mass—June 2, 2022—Devo Technology, the cloud-native logging and security analytics company, today announced $100 million in Series F funding at a valuation of $2 billion. Eurazeo—a leading global investment firm with over $30 billion in assets under management—led the round, and all other existing investors—Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures—also participated. Additionally, ISAI Cap Venture provided a strategic investment in the round. The round brings the total capital raised to more than $500 million. The new funding will fuel growth in new regions and verticals, accelerate Devo’s delivery of the “autonomous SOC” and fund potential new M&A expansion.

The funding round comes on the heels of Devo’s acquisition of Kognos, the AI-powered threat hunting pioneer, which marked a key step in delivering what Devo calls the autonomous SOC— complete visibility, automation, analytics, and open access to community expertise and content.

“Security teams are facing more threats than ever—regardless of industry or geography—and that challenge is compounded by the difficulty of hiring and retaining talent, a lack of visibility into the full attack surface, and the speed and scale necessary to keep up with not just growing threats, but the growth of their organizations,” said Marc van Zadelhoff, CEO of Devo. “This round of funding allows us to deliver on the autonomous SOC through continued innovation of our technology, expand to more regions to serve more customers, and consider more M&A opportunities. We’re thrilled to have instilled such confidence in our investors that they continue to support our innovation and the value we deliver to customers.”

Devo will continue to drive expansion in new verticals and geographies, particularly the public sector and the Asia-Pacific (APAC) region. In February, Devo announced it was designated as Federal Risk and Authorization Management Program’s (FedRAMP) “In-Process” and expects to reach full authorization in the fall of 2022. Devo has also seen substantial growth in the APAC region, including adding energy provider Powerco as a customer and deploying an in-region AWS environment for customers and partners.

“Devo has proven to be a disruptive force in the security analytics market and we believe in its vision to fundamentally change the way organizations secure their data,” said Guillaume d’Audiffret, Managing Director at Eurazeo, who joins the Devo Board. “It is setting a pace for innovation that will enable its customers to meet the ever-growing challenges facing security teams and we look forward to continuing our work together with Devo and fellow investors to further develop its market leadership.”

The round comes as Devo closes out an impressive fiscal year of aggressive growth, including:

  • Nearly 100% annual revenue growth;

  • Nearly 100% customer growth for the year, including Sonos, AT&T, and Unisys;

  • Achieving FedRAMP “In-Process” status, and adding public sector customers including Ivy Tech Community College and Oklahoma University;

  • Surpassing 500 employees across North America, Europe, and APAC, including 91 new hires so far in 2022;

  • Acquisition of Kognos, an AI-powered security automation innovator;

  • Launch of Devo Exchange, a community-based application marketplace for Devo customers and partners.

The funding announcement coincides with the launch of a newly established <team of security researchers and data scientists> to form Devo SciSec, led by Chief Technology Officer, Gunter Ollmann.

About Devo
Devo is the only cloud-native logging and security analytics platform that releases the full potential of your data to empower bold, confident action. With unrivaled scale to collect all of your data without compromise, speed to give you immediate access and answers, and clarity to focus on the signals that matter most, Devo is your ally in protecting your organization today and tomorrow. Headquartered in Cambridge, Massachusetts, with operations in North America, Europe and Asia-Pacific, Devo is backed by Insight Partners, Georgian, TCV, General Atlantic, Bessemer Venture Partners, Kibo Ventures, ISAI Cap Venture and Eurazeo. Learn more at www.devo.com.

Devo PR Contact
Shannon Todesca
shannon.todesca@devo.com
+1 (781) 797-0898

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Sortera acquires O’Donovan Waste Disposal Ltd in London and strengthens its international presence

Nordic Capital

Sortera continues to grow internationally and is now acquiring a new company through O’Donovan Waste Disposal Ltd, one of the leading companies in London in collection and recycling of construction waste, with about 100 employees.

The acquisition of O’Donovan is the first in U.K and is part of Sortera´s effort to expand in Europe’s major cities and to become one of Europe’s leading companies in collection and recycling of construction waste.

“We are very happy to now join forces with O´Donovan. For a long time, they have carried out impressive work, to become one of the leading and most prominent construction recyclers in London. O´Donovan has a strong customer focus and their systematic work with environment and health and safety has resulted in several prestigious awards, as well as a strong reputation among both customers and employees. I am proud to grow Sortera with a company who share our values of strong customer focus and a sustainable approach to business. We wish all employees at O´Donovan a warm welcome to the Sortera family”, says Sebastian Wessman, CEO of Sortera.

“I look forward to continuing to develop our business in the UK with Sortera as a strong owner who understands and appreciates our work with sustainability, quality and health and safety. Sortera will give us the right preconditions to continue our successful development path and to enable new investments and development initiatives”, says Jacqueline O’Donovan, Managing Director of O’Donovan.

The acquisition of O’Donovan marks an important milestone in Sortera’s history and is an important step to realize our strategy and ambition to become a leading construction recycling company in Europe. O’Donovan is part of Sortera from 2 June 2022. This is Sortera’s 17th acquisition since it was established in 2006. With the new acquisition, Sortera´s new turnover will increase to SEK 2 billion.

ABOUT O´DONOVAN
O’Donovan Waste Disposal Ltd is an award winning, independent, family-run company with the aim of leading the way in safe, green, and efficient waste operations. O´Donovan started the company in London in 1959 and has a turnover of approximately SEK 200 million. O’Donovan has operations in west of London, Alperton and Tottenham. https://www.odonovan.co.uk/

ABOUT SORTERA
Sortera is a leading company with a strong Nordic heritage within collection, recycling, processing and sale of residual products of construction waste. Sortera provides solutions that contribute to increased sustainability and improved environmental performance in all areas. With more than 500 employees and a turnover of SEK 2 billion, Sortera covers the entire value chain from collection, sorting, treatment and disposal. Every day, Sortera performs services that make a difference to the environment for thousands of companies and individuals in northern Europe. www.sortera.se/com

For more information, please contact Sebastian Wessman, CEO
sebastian.wessman@sortera.se
+46 72 886 95 97

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Renta acquires Uprent

IK Partners

Renta Group Oy (“Renta Group” or “Renta”) has reached an agreement to acquire SIA Uprent Group (“Uprent” or “the Company”), a leading specialised pumping company providing dewatering and bypass solutions in the Baltics and Poland. The Company has 13 depots across Latvia, Lithuania, Estonia and Poland. Headquartered in Latvia, Uprent has more than 100 employees and annual revenues of approximately EUR 11 million.

The acquisition marks a continuation in Renta’s strategy to be a leading equipment rental company in Northern Europe. Renta will enter specialised pumping, which is an attractive and sizeable rental niche, especially in Poland and the Baltics, where pumping is typically required on construction sites due to wet soil conditions. Geographically, Renta will strengthen its position in Poland and gain entry to the Baltics, further broadening its presence in Northern Europe.

Uprent is an excellent fit with Renta as it is a professionally managed, high-quality company, with strong profitability and leading market positions. Similar to Renta, the Company has a lean structure and country-driven organisation. Uprent will continue to operate and provide services with the same well-functioning local business model as before. Renta sees significant potential in growing the business in Uprent’s current markets and further scaling operations by expanding specialised pumping into the Nordics, benefitting from Renta’s existing presence.

Kari Aulasmaa, CEO of Renta Group, said:
“We consider specialised pumping a highly attractive niche rental segment, where Uprent is the clear market leader in the Baltics and Poland. We are very delighted to join forces with this high-quality company where we see a talented team and significant further growth potential.”

Martins Egle, CEO at Uprent, said:
”We are genuinely glad to become a part of Renta Group, which adheres to highest operational standards and has ambitious future plans. We consider this transaction as a high evaluation of our success until today. Being aligned with Renta Group in the future provides us with excellent opportunities to expand geographically and to further develop our product range, technical capabilities and professional expertise.”

For more information, please contact:

ir@renta.com

or

Kari Aulasmaa, CEO Renta Group Oy
+358 40 511 6445
kari.aulasmaa@renta.com

Legal Disclaimer
This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this press release, including, without limitation, those regarding Renta or any of its affiliates’ future financial position and results of operations, their strategy, plans, objectives, goals and targets, future developments in the markets in which they participate or are seeking to participate or anticipated regulatory changes in the markets in which they operate or intend to operate. In some cases, these forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “should,” or “will” or the negative of such terms or other comparable terminology.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and are based on numerous assumptions and that Renta or any of its affiliates’ actual results of operations, financial condition and liquidity, and the development of the industries in which they operate, may differ materially from (and be more negative than) those made in, or suggested by, the forward-looking statements contained in this press release. In addition, even if Renta’s or any of its affiliates’ results of operations, financial condition and liquidity, and the development of the industries in which they operate, are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

About Renta Group

Renta Group Oy is a Finnish construction-machinery and equipment-rental company founded in 2015. Renta has operations in Finland, Sweden, Norway, Denmark and Poland, with over 100 depots and more than 1,000 employees. Renta is a general rental company with a wide range of construction machines and equipment along with related services. In addition to operating a network of rental depots, Renta is a significant supplier of scaffolding and weather-protection services. For more information, visit www.renta.com

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About Uprent

Uprent, is a leader in specialised pumping in the Baltics and Poland, providing dewatering and bypass solutions for construction, water management and manufacturing companies. In addition, the Company provides dredging and trench shoring solutions. Uprent is headquartered in Latvia, with operations in Latvia, Lithuania, Estonia and Poland. The Company has 13 depots and more than 100 employees. For more information, visit www.uprent.eu/en/home/

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Vernal Biosciences Raises $21 Million to Accelerate mRNA Manufacturing Growth

Ampersand

Colchester, VT., June 2, 2022 — Vernal Biosciences, a technology-leading mRNA manufacturer and formulator of LNP-mRNA, announced today the completion of a $21 million financing to fully integrate its mRNA manufacturing solutions. The round was led by Ampersand Capital Partners and Dynamk Capital, with existing investors Alloy Therapeutics and ATUM participating. The round also included a new investment from Charles River Laboratories, Inc. Vernal offers a complete range of mRNA-related services and products ranging from sequence design and screening support, scaled-down and scaled-up manufacturing of high purity mRNA and LNP-mRNA, platform process development technologies, and ultimately GMP manufacturing.

“We are excited to offer an advanced staging ground of platform processes and analytical technologies to our clients for all of their projects, clinical included,” said Christian Cobaugh, Vernal CEO and Founder.  He emphasized, “While quality and capabilities matter more than ever, huge gaps remain in the capacity of high purity mRNA products and services. Our deep expertise and proven abilities in mRNA technologies, along with the wealth of experience in building success stories in the CRO and CDMO space that our investors bring, will enable Vernal to successfully transform this field, from concept to clinical trials.  It is time to usher in a new era where under a single contract, we can design sequences, manufacture plasmid templates and mRNA, formulate LNP-mRNA, and provide release testing of drug products.”

Christian will be joined on Vernal’s board by existing board member, Errik Anderson of Alloy Therapeutics, and new board members, David Anderson of Ampersand, and Gustavo Mahler of Dynamk.  Under the leadership of Dr. Cobaugh, Vernal is equipped with a singular focus on mRNA. The funds from this financing will support Vernal’s growth including the construction of full GMP capabilities scheduled to become operational in late 2023.

David Anderson, General Partner with Ampersand added, “Ampersand is excited to partner with Christian and the Vernal team to help bring Vernal to the next level as a full-service CDMO servicing the mRNA field.  Our recent experiences building advanced therapy CDMOs such as BrammerBio, ArrantaBio and Vibalogics, position Ampersand as an excellent partner for Vernal at this stage in the company’s growth.”

“There is a strong market demand for fully integrated providers of mRNA products and services,” said Gustavo Mahler, Venture Partner at Dynamk Capital. “Dynamk looks forward to supporting the Vernal team in growing into one of the leading CDMOs in the mRNA space.”

 

About Vernal Biosciences

Vernal Biosciences provides mRNA and LNP-mRNA manufacturing services to democratize the use of mRNA for all use cases ranging from drug discovery to clinical development across all use cases such as gene editing and regulation, cellular programming, vaccines, mRNA replacement, oncology, autoimmune, and protein degradation. Please visit www.vernal.bio for more information.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

About Dynamk Capital

Dynamk Capital is a growth equity and venture capital firm focused on life sciences industrials. Dynamk’s investment strategy is centered on identifying companies developing disruptive technologies, tools, and services that enable the full biopharma continuum across discovery, development, and manufacturing of biotherapeutics, including cell & gene therapies and vaccines. Please visit www.dynamk.vc for more information.

Media Contacts

Vernal Biosciences, Inc.
Robert Myers
myersr@vernal.bio

Ampersand Capital Partners
Mirsini Tzigizis
mt@ampersandcapital.com

Dynamk Capital
Info@dynamk.vc

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Audax Private Equity Announces Strategic Investment in Thermogenics

Audax Group
JUN 02, 2022

Audax Private Equity (“Audax”) today announced it has acquired Thermogenics, Inc. (“Thermogenics” or the “Company”), a leading North American provider of boiler service & maintenance, equipment sales and rentals, from Ironbridge Equity Partners and certain other minority investors. Financial terms of the transaction were not disclosed. Thermogenics represents the first investment by Audax’ Origins Fund I.

Headquartered in Ontario with operations in Canada and the US, Thermogenics specializes in providing complete boiler lifecycle solutions to a diverse set of commercial and industrial customers and end markets. To complement its service-driven business model, the Company designs and manufacturers differentiated, energy efficient boilers with proprietary coil-tube technology, and provides best-in-class parts and maintenance services through its highly-trained team of technicians.

Ross Garland, CEO of Thermogenics, commented, “We are thrilled to be partnering with Audax as we enter an exciting new chapter in our history. This investment will help Thermogenics accelerate growth and expand its boiler product and service offerings to customers. Partnering with Audax will only enhance our ability to continue doing what we do best – providing trusted solutions to our clients.”
“We are excited to partner with Ross and the rest of the Thermogenics management team to accelerate the growth of the Company and build upon their success as a best-in-class provider of boiler solutions,” said Greg Smith, Managing Director at Audax Private Equity.

“Led by a world-class management team, Thermogenics has developed an excellent reputation within the industry as the premier provider of coil-tube boiler products, parts and services,” said Don Bramley, Managing Director at Audax Private Equity. “We believe Thermogenics’ high-quality product and service offerings and loyal customer base complement our portfolio of industry leading companies.”

Solomon Partners served as financial advisor to Audax and KeyBanc Capital Markets served as financial advisor to Thermogenics. Kirkland & Ellis and Blakes served as legal counsel to Audax and Davies served as legal counsel to Thermogenics.

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DIF Capital Partners to divest its stake in the Thames Tideway Tunnel project

DIF

DIF Capital Partners (“DIF”) is pleased to announce that DIF Infrastructure III (“DIF III”) and DIF Infrastructure IV (“DIF IV”) have agreed to the sale of their 10.66% shareholding in Thames Tideway Tunnel (“Tideway”) to DIF’s existing co-shareholders in the project: an affiliate of Allianz Capital Partners, two Amber Infrastructure-related entities (International Public Partnerships and Swiss Life Asset Managers) and Dalmore Capital. The transaction has arisen due to DIF III coming to the end of its fund life.

Tideway is a unique UK infrastructure project and is the largest single asset in the UK water sector. The 25km long tunnel is being constructed to help prevent the release of 37 million cubic metres of untreated sewage that is currently discharged into the River Thames in a typical year. The ‘super sewer’ will significantly increase the capacity of London’s sewer network and help to transform the River Thames into a healthier and cleaner river.

DIF, along with Allianz, Amber Infrastructure and Dalmore Capital, was awarded the project licence for Tideway from Ofwat in 2015, and has managed the project successfully through its most challenging construction phase. At the end of April 2022, Tideway reached a significant milestone with the completion of tunnelling.

Andrew Freeman, Head of Exits at DIF, said: “During our joint ownership, the co-shareholders have championed our collective vision of providing long-term benefits to London by upgrading its essential infrastructure. We are delighted to leave Tideway under their stewardship.”

DIF was advised by RBC Capital Markets (financial) and Norton Rose Fulbright (legal).

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with ca. EUR 11 billion in assets under management across ten 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:

  • DIF CIF funds, of which DIF CIF III is the latest vintage, target equity investments in small to mid-sized core-plus infrastructure companies in the telecom, energy transition, and transportation sectors.
  • 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 Capital Partners has a team of over 190 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.

Contact: Thijs Verburg, t.verburg@dif.eu.

 

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Bain Capital becomes new majority shareholder at House of HR

BainCapital

Roeselare (Belgium), May 28, 2022 – House of HR (“the Company”), a European leader in HR services, announced today that Bain Capital Private Equity – one of the world’s leading private investment firms – has entered into a share purchase agreement for the acquisition of a 55% stake in the Company. House of HR Management, Naxicap and founder Conny Vandendriessche will hold the remaining equity. The new strategic partnership will maintain the Company’s entrepreneurial spirit, help House of HR scale its unique platform into new markets and increase digital investments.

Bain Capital becomes new majority shareholder at House of HR

European leader

As a leader in HR services, House of HR places over 57,000 people each month across small, medium and large companies. Started in 1995 with one Accent office in Roeselare, Belgium, House of HR has grown and blossomed into a European group with over 4300 internal employees, €2.2 billion sales in 2021, and offices in Belgium, the Netherlands, France and Germany and recruitment agencies in Poland, Romania, Hungary and Spain, amongst others.

Sustained growth

House of HR has a multi-brand strategy stimulating local entrepreneurship to serve specialized markets allowing it to be one of the most growth-focussed and profitable platforms in the world.
House of HR continuously looks for new opportunities to invest in companies that can complement the House of HR offering, in terms of either industry specialization (e.g. healthcare, IT, public sector), candidate focus (e.g. engineering, legal, financial) or geographic spread.

House of HR’s focus on digital solutions for both candidates and customers helps meet workers’ increased demand for flexibility. House of HR is known for its market leading digital solutions, such as NOWJOBS (fully digital matching platform for students and flexworkers), SWOP, Gighouse and Book’u.

“With Bain Capital’s investment in House of HR, we start a new chapter in our incredible story,” says Rika Coppens, CEO of House of HR.  “We intend to continue our growth path, based on strong organic growth combined with targeted and specialized M&A in existing markets, DACH countries and the Nordics. All supported by continued focus on digitisation while maintaining a high standard when it comes to attention to people, both internal employees (our Happy Rebels) but also all our candidates.”

“It is rare to find such a unique platform with a vibrant, energetic ethos and outstanding management team as House of HR,” said Christophe Jacobs van Merlen, Managing Director, Bain Capital Private Equity.

“We have been impressed by HoHR’s specialized business model, underpinned by strong employee ownership which has generated sustained above-market growth for more than 10 years! This combined with a unique track record of successful M&A in this sector, which we look forward to accelerating. We’re pleased to be embarking on this partnership, with Naxicap and Conny Vandendriessche both keeping their wealth of expertise in the business,” said Matthias Boyer-Chammard, Managing Director, Bain Capital Private Equity.

“Since we first invested in 2012 in Accent Jobs (now House of HR), the Group has executed 37 acquisitions and has known two exceptional CEOs, instrumental in the success of House of HR. During this ten year journey, we have been surprised and often impressed by House of HR people. Their passion and warmness is contagious. We are proud to handover our position as a majority shareholder at House of HR, a Group that is stronger than ever, with a significant international footprint, generating ten times more profit than in 2012 and ready for a new growth path with a prominent shareholder like Bain Capital. Above all, I would like to thank all the people of House of HR and Conny Vandendriessche for this exceptional journey,” said Eric Aveillan, CEO, Naxicap Partners.

“I am really very happy that House of HR has found a new majority shareholder, that, like Naxicap did in the last 10 years, really understands the entrepreneurial and human centric DNA of the company. It has been a dream come true for me to see that House of HR turned into an international group that was born from 1 Accent office in Roeselare. That is also why I want to remain as a minority shareholder and board member so I can continue to show my support for all the great Happy Rebels that work for House of HR,” according to Conny Vandendriessche, founder of House of HR and board member.

The closing of the transaction remains subject to customary regulatory approvals in particular.

A group of financial institutions has committed to provide a debt financing package in support of Bain Capital’s acquisition of a majority stake in House of HR. The company’s existing Term Loan B, Senior Secured Notes and Senior Subordinated Notes are expected to be refinanced with private, including 2nd lien TLB facilities, and/or public debt financing on terms customary for similar acquisition financings at closing of the acquisition, which is expected to occur by the end of Q3, subject to customary regulatory approvals.

About House of HR

House of HR is a leading services group active in the world of HR. Headquartered in Roeselare (Belgium), the group consists of 10 companies (PowerHouses) that together represent over 40 brands (Boutiques), all focusing on ‘Engineering&Consulting’ and ‘Specialized Talent Solutions’. Within ‘Engineering&Consulting’ medium to highly skilled candidates such as engineers, technicians and other business consultants are active in projects at clients in a wide range of market segments. ‘Specialized Talent Solutions’ provides temporary workers with an emphasis on ‘temp to perm’, digital and international recruitment and permanent placements for clients in need of people with specific profiles. The group also launched a couple of successful digital solutions such as NOWJOBS, Book’u, SWOP and Gighouse.

For more info, visit www.houseofhr.com  

About Bain Capital Private Equity

Bain Capital Private Equity (www.baincapitalprivateequity.com) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 600 professionals create value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has offices in Boston, Chicago, New York, Palo Alto, San Francisco, Dublin, London, Luxembourg, Madrid, Munich, Guangzhou, Melbourne, Mumbai, Hong Kong, Seoul, Shanghai, Sydney and Tokyo. The firm has made primary or add-on investments in more than 1,000 companies since its inception. In addition to private equity, Bain Capital invests across asset classes including credit, real estate, public equity and venture capital, managing more than €150 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.
For more information, visit www.baincapitalprivateequity.com

About Naxicap Partners

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers – has €6 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 58 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.

For more information, visit www.naxicap.fr/en

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Agilitas backs buy-out of NNIT’s IT infrastructure outsourcing business

Agilitas

Agilitas Private Equity LLP (“Agilitas”), the pan-European mid-market private equity firm, today announces the signing of an agreement to back the buy-out of NNIT’s IT infrastructure outsourcing business including its Hybrid Cloud Solutions business as well as select parts of its Cloud & Digital Solutions business (together “NNIT IO”). NNIT IO is a leading provider of IT infrastructure outsourcing services to some of the largest Danish private and public institutions.

NNIT traces its origin to the Novo Nordisk Group and utilises its deep roots and experience in the pharmaceutical industry to develop critical IT solutions for a broad range of industries for which quality and security are crucial. Headquartered in Copenhagen, Denmark, NNIT IO has over 25 years of experience, and specialises in managing customers’ business critical IT systems, providing full and customised outsourcing solutions including data storage, servers, networks and related advising and support services such as IT consulting services in relation to the cloud transition and cyber defence. It is one of the few Danish dedicated IT service providers able to combine the professionalism of a global player with the flexible and local approach required to serve the Danish public and private sector customers.

NNIT IO employs approximately 1,500 staff and has a well-invested asset base, including two fully owned state of the art data centres strategically located in the Copenhagen area. It has long-standing relationships with large Danish blue-chip customers within the life-science sector, financial institutions, and the private and public markets, all of whom have critical IT requirements due to operating in complex environments. NNIT IO also provides a unique service to Danish customers who wish their critical data to be kept in Denmark rather than in offshore data centres, providing a greater level of data security.

 

NNIT IO’s activities are highly resilient, with embedded long term customer relationships and significant transformational potential following the carve-out from NNIT. It serves society by supporting sustainable development in the IT industry, improving IT infrastructure, and developing innovative solutions. NNIT IO is also a sustainability pioneer with 95-100% of energy usage from renewables and very energy efficient data centres.

Kevin Iermiin, Partner of Agilitas who will be joining the board of NNIT IO following closing of the transaction, commented: “This is a pivotal moment for NNIT IO, which we believe will flourish from becoming a standalone company with a dedicated management team. It is a business of high-quality, which is a testament to the talent of its work force. We look forward to working together with the management team and investing further in the business to accelerate growth following closing of the transaction. We will work to ensure continuity, while driving innovative new products and services which will ultimately benefit NNIT IO’s customers. Agilitas has extensive experience of leading investments in Denmark, and a strong enthusiasm for the Danish IT market, having previously backed the buyouts of several Danish companies.” He continued: “The quality of the services provided by NNIT IO and the people behind them have impressed the incoming CEO Henrik Bodskov, who will be leveraging his more than 20 years’ experience in the IT sector, including CEO of IBM Denmark. Henrik will build on the existing platform and bring innovative solutions to help its customers secure and scale their IT infrastructure as they grow.”

Henrik will start as CEO of NNIT IO following closing of the transaction, as he transitions out of his current role at IBM Denmark.

Martin Calderbank, Managing Partner of Agilitas, said: “The IT infrastructure outsourcing market is growing fast, driven by strong digital transformation tailwinds. We are delighted to partner with NNIT IO, whose services are essential to maintain the operations of its public and private sector customers and to ensure the protection of their data and operations. Together with the management team, we will strive to continue to answer their critical needs with innovative and sustainable solutions.”

 

The closing of the transaction is subject to the successful completion of the carve-out and regulatory approvals.

 

Media enquiries to: Greenbrook Communications – James Madsen and Teresa Berezowski

 

+44 20 7952 2000 | agilitas@greenbrookadvisory.com

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Coralogix Closes $142M Series D Funding to Accelerate its Vision of In-Stream Data Analysis for Logs, Metrics, Tracing, and Security

Advent International

New funding round underscores high demand for harmonious, scalable, and cost-effective observability

SAN FRANCISCO / TEL AVIV — June 2, 2022 — Coralogix, a company using streaming analytics to rebuild the path to observability, today announced it has raised a $142 million Series D funding round, bringing the company’s total amount raised to $238 million. New investors Advent International (“Advent”) and Brighton Park Capital (“Brighton Park”) co-led the round with participation from Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments. In connection with the funding round, Alek Ferro of Advent and Mike Gregoire of Brighton Park have joined the Coralogix board of directors.

With proceeds from this round, Coralogix will grow its go-to-market, product, and R&D teams within the Americas, EMEA, UK, and APAC. As the company expands, they are committed to continuing to offer endless data possibilities with its one-of-a-kind 24/7 in-app support and response times under one minute. This announcement reflects the evolution of Coralogix from a best-in-class log analytics platform to a full-stack observability platform with robust capabilities for metrics, tracing, and security data, in addition to logs. With data volumes and costs growing exponentially and coverage options becoming more limited, having all data insights in a centralized platform is critical for DevOps, Engineering, and Security teams.

The company’s flagship Streama© technology enables real-time insights and alerting for all observability data with no reliance on storage or indexing. In addition, the company is announcing a new distributed query engine enabling fast queries on dynamically mapped data from the customer’s remote storage. This enables customers to analyze data in-stream and then query it from their own archive. The platform changes the unit economics of observability to give customers a 40-70 percent reduction in costs while simultaneously improving their performance and data insights.

“Coralogix is an established leader in the modern observability market and is differentiated by its product, mission, and vision,” said Alek Ferro, Director at Advent. “We are confident that Coralogix’s unique data streaming architecture and analytics pipeline will continue to transform the category through its ability to provide superior monitoring coverage, insights, and results while yielding significant cost savings. We’re thrilled to partner with the Coralogix management team as they continue to build on this momentum.”

“Monitoring the applications that now orchestrate much of our economy is a critical piece of the modern software world, and Coralogix’s technology enables its customers to do this at a massive scale without incurring excessive costs or compromising performance or functionality,” said Mike Gregoire, Partner at Brighton Park and former CEO of CA Technologies. “Coralogix’s offering is incredibly powerful, and we see several opportunities to grow their functionality while preserving the highly responsive support their customers are accustomed to. We look forward to partnering with the talented team at Coralogix as they scale into the leading platform in the observability market.”

Today’s announcement comes on the heels of unprecedented growth for Coralogix. In the past year, the company has signed some of the most successful hypergrowth and enterprise customers in the US, Israel, India, and EMEA. The company also expanded into the security market with the launch of Snowbit, a cybersecurity venture focused on helping cloud-native companies comprehensively manage the security of their environments.

“Our approach at Coralogix is to solve the fundamental challenges of ever-growing data volumes and system complexity. Our technology breaks the unit economics of observability to provide our customers with a cost-effective way to centralize and scale across the R&D organization. With this round of funding, we will be expanding our offering into further markets as we continue our journey to provide harmonious observability,” said Ariel Assaraf, CEO of Coralogix.

ABOUT CORALOGIX

Coralogix is the leading in-stream observability platform, using proprietary Streama© technology to provide modern engineering teams with real-time insights and trend analysis for their data with no reliance on storage or indexing.

For more information, please visit: www.coralogix.com

 

ABOUT ADVENT INTERNATIONAL

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 265 private equity investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit
Website: www.adventinternational.com
LinkedIn: www.linkedin.com/company/advent-international

 

ABOUT BRIGHTON PARK CAPITAL

Brighton Park is a Greenwich, CT-based investment firm that specializes in software, healthcare, and technology-enabled services. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. Brighton Park brings purpose-built value-add capabilities that match the unique requirements of each of its companies.

For more information about Brighton Park, please visit: www.bpc.com

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