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Equity consortium led by Nordic Capital and including Insight Partners completes acquisition of Inovalon – Partnership to advance Inovalon’s mission of empowering data-driven healthcare

Nordic Capital
Equity consortium led by Nordic Capital and including Insight Partners completes acquisition of Inovalon Image

 

Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced the completion of its acquisition by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and chief executive officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon. The acquisition was previously announced on August 19, 2021, and was approved by Inovalon’s stockholders on November 16, 2021. In accordance with the terms of the agreement, Inovalon stockholders will receive $41.00 in cash for each share of Class A Common Stock and Class B Common Stock.  As a result of the transaction, Inovalon is now a privately held company and shares of Inovalon Class A Common Stock are no longer listed on the Nasdaq Global Select Market. 

“The closing of this transaction is a significant milestone for Inovalon, and we are excited to begin our company’s next chapter with our partners at Nordic Capital, Insight Partners, and 22C Capital,” said Keith Dunleavy, M.D., Inovalon’s founder and chief executive officer. “I am tremendously proud of what Inovalon and our associates have accomplished over more than two decades empowering data-driven improvements across the healthcare ecosystem. We look forward to working together with our new partners to advance Inovalon’s mission, expand our reach, and further expand the value that we bring to our customers and the patients they serve.”

“Nordic Capital is pleased to complete this compelling transaction and look forward to the partnership with Inovalon, whom we have long admired for their industry leadership, cloud-based technologies, and commitment to customers,” said Fredrik Näslund, partner, Nordic Capital Advisors. “Our commitment to accelerating innovation that delivers meaningful value and measurable results for all stakeholders across the healthcare landscape is steadfast. Nordic Capital looks forward to building upon Inovalon’s strong foundation and the significant opportunities ahead.”

“The importance of leveraging data and advanced analytics to drive improved healthcare outcomes and economics continues to grow,” said Deven Parekh, managing director at Insight Partners. “As new partners to Inovalon, we look forward to supporting the leadership team and exceptional associates across the organization as they continue to empower customer success through data-driven healthcare.”

J.P. Morgan Securities LLC served as financial advisor to Inovalon, and Latham & Watkins LLP served as legal advisor to Inovalon and the Special Committee of the Board of Directors of Inovalon. Evercore served as financial advisor to the Special Committee. Goldman Sachs acted as lead financial advisor to Nordic Capital and Insight Partners. Citigroup also advised Nordic Capital and Insight Partners, and Kirkland & Ellis LLP served as legal advisor to Nordic Capital. Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.

About Inovalon

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of customers, including all 25 of the top 25 U.S. health plans, all 25 of the top 25 global pharma companies, 24 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 591,000 clinical facilities, 342 million Americans, and 64 billion medical events. For more information, visit www.inovalon.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

 

About Insight Partners

 Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

 

About 22C Capital

 22C Capital is a private investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential.

 

Contacts:

Inovalon
Kim E. Collins, Senior Vice President, Corporate Communications
kcollins@inovalon.com
Phone 301-809-4000 x1473

 

Nordic Capital
Katarina Janerud, Communications Manager, Nordic Capital Advisors
katarina.janerud@nordiccapital.com
Phone: +46 8 440 50 50

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com

 

Insight Partners

 

Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced the completion of its acquisition by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and chief executive officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon. The acquisition was previously announced on August 19, 2021, and was approved by Inovalon’s stockholders on November 16, 2021. In accordance with the terms of the agreement, Inovalon stockholders will receive $41.00 in cash for each share of Class A Common Stock and Class B Common Stock.  As a result of the transaction, Inovalon is now a privately held company and shares of Inovalon Class A Common Stock are no longer listed on the Nasdaq Global Select Market. 

“The closing of this transaction is a significant milestone for Inovalon, and we are excited to begin our company’s next chapter with our partners at Nordic Capital, Insight Partners, and 22C Capital,” said Keith Dunleavy, M.D., Inovalon’s founder and chief executive officer. “I am tremendously proud of what Inovalon and our associates have accomplished over more than two decades empowering data-driven improvements across the healthcare ecosystem. We look forward to working together with our new partners to advance Inovalon’s mission, expand our reach, and further expand the value that we bring to our customers and the patients they serve.”

“Nordic Capital is pleased to complete this compelling transaction and look forward to the partnership with Inovalon, whom we have long admired for their industry leadership, cloud-based technologies, and commitment to customers,” said Fredrik Näslund, partner, Nordic Capital Advisors. “Our commitment to accelerating innovation that delivers meaningful value and measurable results for all stakeholders across the healthcare landscape is steadfast. Nordic Capital looks forward to building upon Inovalon’s strong foundation and the significant opportunities ahead.”

“The importance of leveraging data and advanced analytics to drive improved healthcare outcomes and economics continues to grow,” said Deven Parekh, managing director at Insight Partners. “As new partners to Inovalon, we look forward to supporting the leadership team and exceptional associates across the organization as they continue to empower customer success through data-driven healthcare.”

J.P. Morgan Securities LLC served as financial advisor to Inovalon, and Latham & Watkins LLP served as legal advisor to Inovalon and the Special Committee of the Board of Directors of Inovalon. Evercore served as financial advisor to the Special Committee. Goldman Sachs acted as lead financial advisor to Nordic Capital and Insight Partners. Citigroup also advised Nordic Capital and Insight Partners, and Kirkland & Ellis LLP served as legal advisor to Nordic Capital. Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.

About Inovalon

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of customers, including all 25 of the top 25 U.S. health plans, all 25 of the top 25 global pharma companies, 24 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 591,000 clinical facilities, 342 million Americans, and 64 billion medical events. For more information, visit www.inovalon.com.

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, and Norway. For further information about Nordic Capital, please visit www.nordiccapital.com

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

 

About Insight Partners

 Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

 

About 22C Capital

 22C Capital is a private investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential.

 

Contacts:

Inovalon
Kim E. Collins, Senior Vice President, Corporate Communications
kcollins@inovalon.com
Phone 301-809-4000 x1473

 

Nordic Capital
Katarina Janerud, Communications Manager, Nordic Capital Advisors
katarina.janerud@nordiccapital.com
Phone: +46 8 440 50 50

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com

 

Insight Partners

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DIF Capital Partners to acquire Plugit, a leading Finnish EV charging infrastructure company

DIF

DIF Capital Partners (“DIF”), a leading global independent infrastructure investment manager, is pleased to announce that it has reached an agreement to acquire a 71% stake in Plugit Finland Oy (“Plugit”), a leading EV charging infrastructure company in Finland, through DIF CIF II (the “Fund”).

Founded in 2012, Plugit has become one of the largest EV charging infrastructure companies operating in the Finnish market. It has an installed base of ca. 4k charge points, has provided services to ca. 300 business customers to date and employs ca. 60 people. Plugit delivers and operates charging infrastructure projects for businesses and public sector organisations. It provides complete turnkey solutions, including design, hardware provision, operations, maintenance and end-to-end software. Plugit also offers a fully-funded Charging-as-a-Service (“CaaS”) product, where it funds the upfront capex and owns the EV charging infrastructure that it installs, in return for fixed availability-based lease payments from customers.

Supported by DIF, Plugit will expand its CaaS product and plans to build-out the amount of infrastructure that it funds and owns. The CaaS product addresses a key obstacle for Plugit customers as it removes the hurdle of them having to fund high capex amounts upfront and enables customers to transfer technology and operational responsibilities to an experienced player in the sector.

The management team will continue to remain invested in the company.

Willem Jansonius, Partner and Head of Investments for the DIF CIF strategy, says: “DIF believes that the electrification of transportation will play a critical role in reducing carbon emissions. We are excited to invest in such a well-established EV charging company, in order to speed up the rollout of charging infrastructure across Finland and abroad. We look forward to working with a highly experienced management team to accelerate Plugit into the next phase of its growth.”

Tommi Saarela, CEO of Plugit, adds: “We are excited about this unique opportunity to accelerate, our already fast and profitable growth, even further in the area of e-mobility. Partnering with DIF will enable us to meet our strategic objective of ten folding our business by 2025. DIF will provide us, not only the growth equity, but substantial financial resources enlarging and scaling up our CaaS services in Finland and other markets.”

Plugit was advised by Krogerus (legal) and PwC (M&A). DIF was advised by Avance (legal), Improved (M&A), Boston Consulting Group (commercial), Deloitte (financial) and DNV (technical).

Closing of the transaction is expected to take place before 2021YE.

About DIF Capital Partners

DIF Capital Partners is a leading global independent investment manager, with more than €9.0 billion in assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in infrastructure companies and assets located primarily in Europe, the Americas, and Australasia through two complementary strategies:

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

DIF Capital Partners has a team of over 170 professionals, based in ten offices located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto. For more information please visit www.dif.eu.

Contact:

Allard Ruijs, IR & BD
Email: a.ruijs@dif.eu

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Acceptance period for Zorro Bidco’s public delisting tender offer for all outstanding zooplus shares commences

eqt

Acceptance period for delisting offer runs from 24 November 2021 to 12 January 2022

Offer price of EUR 480 per share in cash corresponds to cash consideration of the preceding voluntary public takeover offer by Zorro Bidco

More than 89 percent of zooplus’ total shares have already been tendered into the takeover offer

Delisting offer is not subject to any closing conditions and there will be no additional acceptance period

24 November 2021 – London & Munich –Hellman & Friedman LLC (“Hellman & Friedman” or “H&F”) and the EQT IX fund (“EQT Private Equity”) today announced that the offer document for the public delisting tender offer (the “Delisting Offer”) has been published by Zorro Bidco S.à r.l. (“Zorro Bidco”), a holding company controlled by funds advised by H&F, for all outstanding shares (ISIN: DE0005111702) of zooplus AG (“zooplus” or the “Company”) that are not already held by Zorro Bidco.

zooplus shareholders can tender their zooplus shares into the Delisting Offer at a price of EUR 480 per share in the Delisting Offer tender period which starts today and ends at midnight (CET) on 12 January 2022. This consideration corresponds to the offer price of the preceding voluntary public takeover offer by Zorro Bidco (the “Takeover Offer”), which ended on 22 November 2021.

At the end of the additional acceptance period of the Takeover Offer on 22 November 2021, more than 89 percent of zooplus’ total shares have been tendered into the Takeover Offer. This percentage rate may increase further as a result of additional bookings of tendered shares. The final result of the Takeover Offer will be published on www.hf-offer.com on 25 November 2021.Final settlement of the Takeover Offer is expected to be concluded by 6 December 2021.

Hellman & Friedman and EQT Private Equitystrongly believe that zooplus would benefit from being a privately held company. It would be better positioned to focus on longer-term objectives, no longer subject to the short-term expectations of the capital market and the regulatory requirements of a listed company. Subject to their review of the offer document, the Management Board and the Supervisory Board of zooplus intend to support the Delisting Offer.

The relevant details as to how the Delisting Offer can be accepted are set out in the offer document for the Delisting Offer. Shareholders should inquire with their custodian bank for any relevant deadlines that may require actions in accordance with the Delisting Offer. There will be no additional acceptance period, so that the Delisting Offer will close on 12 January 2022, subject only to such exceptions as are set out in the offer document for the Delisting Offer which may result in an extension of the acceptance period. The Delisting Offer is not subject to any closing conditions.

The partnership between Hellman & Friedman and EQT Private Equity to finance the Takeover Offer, which was announced on 25 October 2021, also includes the financing of the Delisting Offer. EQT Private Equity intends, subject to required regulatory approvals and other conditions, to become a jointly controlling partner with equal governance rights in a parent of Zorro Bidco.

Zorro Bidco and zooplus have entered into an Investment Agreement under which zooplus, subject to certain conditions, agreed to apply for the revocation of the admission to trading of all zooplus shares on the regulated market of the Frankfurt Stock Exchange and to request the termination of the inclusion of the zooplus shares in the tradingin the sub-segment Berlin Second Regulated Market of the Berlin Stock Exchange (Wertpapierbörse Berlin) and on the open market in Dusseldorf, Hamburg, Hannover, Munich and Stuttgart as well as via the Tradegate Exchange. Following a successful delisting, zooplus shares will not be available for trading on the regulated market and in the electronic trading system (XETRA) of the Frankfurt Stock Exchange. Trading of the zooplus shares in the sub-segment Berlin Second Regulated Market of the Berlin Stock Exchange (Wertpapierbörse Berlin) will also end. This may detrimentally affect the ability to trade zooplus shares and the price at which zooplus shares are traded.

The publication of the offer document for the Delisting Offer has been approved by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin). The offer document and a non-binding English translation are now available at www.hf-offer.com. Copies of these documents can also be obtained free of charge at BNP Paribas Securities Services S.C.A., Frankfurt Branch, Europa-Allee 12, 60327 Frankfurt am Main, Germany (inquiries by fax to +49 69 1520 5277 or email to frankfurt.gct.operations@bnpparibas.com).

-Ends-

For further information, please contact:

For H&F
Regina Frauen
Phone: +49 160 8855105
Email: regina.frauen@fgh.com

Christian Falkowski
Phone: +49 171 8679950
Email: christian.falkowski@fgh.com

For EQT
Isabel Henninger
Phone: +49 174 940 9955
Email: eqt-offer@kekstcnc.com

Finn McLaughlan
Phone: +44 77 1534 1608
Email: eqt-offer@kekstcnc.com

Important notice:

This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares in zooplus AG. The terms of the public delisting tender offer, as well as further provisions concerning the public delisting tender offer, are published in the offer document, the publication of which has been approved by the German Federal Financial Supervisory Authority (BaFin). Investors and holders of shares in zooplus AG are strongly advised to read the offer document and all other relevant documents regarding the public delisting tender offer, since they will contain important information.

The public delisting tender offer has been issued exclusively under the laws of the Federal Republic of Germany, in particular according to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz), the German Stock Exchange Act (Börsengesetz) and certain applicable provisions of the U.S. Securities Exchange Act. Any contract that is concluded on the basis of the public delisting tender offer will be exclusively governed by the laws of the Federal Republic of Germany and is to be interpreted in accordance with such laws.

Categories: News

Booking Holdings enters into agreement with CVC Capital Partners to acquire Etraveli Group

CVC Capital Partners

Acquisition will complement Booking Holdings’ ongoing work to build a frictionless global flights offering

Booking Holdings Inc. today announced that it has entered into an agreement with funds managed by CVC Capital Partners (“CVC”) to acquire global flight booking provider, Etraveli Group, for approximately €1.63 billion. Completion of the acquisition is subject to certain closing conditions, including regulatory approval.

Already a partner of Booking.com – helping power its existing flight product – the acquisition of Etraveli Group will complement Booking Holdings’ ongoing work to build a frictionless global flights offering to deliver on the company’s overall mission to make it easier for everyone to experience the world.

“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” said Booking Holdings’ Chief Executive Officer, Glenn Fogel.

“Booking Holdings pioneered the travel space more than two decades ago and they continue to pave the path forward by developing solutions to create seamless travel experiences,” said Mathias Hedlund, Etraveli Group’s Chief Executive Officer. “We have had a fantastic time together with our current owner CVC, establishing Etraveli Group as a global provider of attractive flight options at affordable prices. Today is a day of recognition, as well as marking a new phase in our relentless urge to improve further. We are thrilled to become a part of Booking Holdings, and we look forward to the next chapter of our own development as we continue to enhance the flight booking experience for our customers and partners worldwide.”

“Mathias and his team have built a world-leading platform for selling flights. Joining the Booking Holdings family is a logical step in Etraveli’s journey. We wish them all the very best and bon voyage!” said Lorne Somerville, Chairman of Etraveli Group and a Managing Partner of CVC.

Etraveli Group will remain headquartered in Sweden and operate as an independent business under Booking Holdings, led by their current management team.

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BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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Active Capital Company expands Buy-and-Build-Platform SchahlLED Lighting

ActiveCapital

The Future of Industrial Lighting is Intelligent, Efficient, and Digital

SchahlLED Lighting, a leading provider of intelligent digital lighting solutions for industry and logistics, completes its second add-on of the year with the acquisition of LED Technics Germany (LTG). The acquisition is part of an ambitious growth strategy by Active Capital Company (ACC) ─ SchahlLED’s investor ─ to create a key player in the market for sustainable, intelligent, and digital industrial lighting. Expanding the business by acquiring add-ons as sales hubs throughout Germany is part of that strategy.

“With unprecedented price hikes in the energy sector and a growing need for more sustainable resource management, the demand for intelligent LED lighting solutions is on the rise“, says Hartwig Ostermeyer, Investment Director and Managing Director at ACC in Germany. SchahlLED Lighting solutions provide highly efficient digital control functionalities that facilitate a significant reduction in cost, especially in industrial and logistics applications. Energy savings of up to 95 percent are possible, and far exceed the savings generated by the switch to LED technology alone. CO2 emission is also significantly reduced. The switch makes sense environmentally and, in light of increasing emissions prices, financially as well. Hartwig Ostermeyer: “Since we acquired SchahlLED in 2019, we have transformed the company into an efficient buy-and-build platform that is capable of quickly integrating add-ons. In LED Technics Germany, we have found a partner that fits the bill perfectly with highly efficient, user-friendly LED lighting solutions and digital sales channels.”

About Active Capital Company

Active Capital Company (ACC) is an investment company with offices in Amsterdam and Munich and invests in small and medium-sized businesses headquartered in the Netherlands or Germany with revenues between €10M and €100M. ACC was founded and inspired by entrepreneurs with a passion for industrial environments. With a hands-on approach, ACC develops its investments through three main drivers: geographic expansion, sustainability and innovation.

About SchahlLED Lighting GmbH

SchahlLED is a turnkey service provider of intelligent LED solutions for the industrial and logistics sectors with more than 50 years of lighting and 20 years of LED experience. The company is based in Unterschleißheim near Munich and is active in Germany, Austria, Switzerland and Poland. As both manufacturer and full-service provider, SchahlLED plans lighting concepts and supplies intelligent LED lighting systems. With an extensive network of sales and service partners in Germany, Austria, Switzerland and Poland, SchahlLED completes more than one hundred projects annually. For more information, visit www.schahlled.de.

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BDC enters into partnership with Plug In Digital

Bridgepoint

Bridgepoint Development Capital (“BDC”) has signed an agreement to invest in Plug In Digital (“PiD”), one of the largest independent video game distributors and a rising video game publisher. Existing shareholders, including Francis Ingrand, are reinvesting significantly in the operation, while the transaction enables the opening of PiD’s capital to its employees.

Plug In Digital orchestrates a $75m funding round to finance its organic development, including the publishing of high-potential indie games meeting PiD editorial line as well as its external growth strategy, targeting notably video games’ developers with own-IP on which the company can further capitalize. Financing is provided by Eurazeo in the form of unitranche debt and includes a dedicated and committed line to finance future external growth.

Plug In Digital was founded in 2012 by Francis Ingrand, quickly growing into a full-service games distributor and publisher for today’s most exciting games across PC, cloud, console and mobile platforms. The company’s two publishing labels, Dear Villagers and PID Games, boast an impressive portfolio that spans a variety of today’s most popular genres, reaching players across all platforms and delivering playful, distinctive and audacious games to global audiences.

Francis Ingrand, CEO and Founder of Plug In Digital commented: “We are excited to work with Bridgepoint for the next steps of our ambitious development project. We are confident they are the right partner to accompany us in our growth journey, mixing organic development and targeted strategic acquisitions. We are pleased to have attracted Bridgepoint who believes in our differentiating model, our strategic direction and our people.”

Plug In Digital has seen a 50 percent+ yearly growth over the past five years, hitting a successful stride with its flagship publishing label Dear Villagers which has launched more than eight cross-platform, cross-gen titles into the global games marketplace since its inception in early 2019. One of its most recent titles, The Forgotten City, has been lauded by international critics for its unique, eye-catching design as well as its exceptional narrative and dialogue and has been a remarkable commercial hit. PID Games, the second label under the Plug In Digital umbrella, is focused on offering studios a flexible publishing or co-publishing support on PC, Console and Mobile. PID is on track to publish 30 games this year from its global development partners.

Olivier Nemsguern, Partner at Bridgepoint Development Capital and responsible for investment activities in France added: “We have been following the Video Games sector closely for a period of time and are impressed by Plug In Digital’s journey to-date. The company is well-positioned in a really exciting market, and has built a great brand in the Indie publishing space, relying on its committed and skilled leadership team. We look forward to partnering with the Company during its next chapter of development.”

Bridgepoint Development Capital, through its BDC IV fund, has concluded through this transaction, its fourth investment in Europe, and first in France.

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AnaCap invests in German FinTech fintus, a leading provider of low-code software for the Financial Services sector

Anacap

AnaCap Financial Partners (“AnaCap”), a leading specialist mid-market private equity investor in technology enabled financial services, today announces a majority growth investment into German FinTech fintus GmbH (“fintus”), one of the leading low-code software providers in the Financial Services sector.

AnaCap will partner up with fintus Founder & CEO Benjamin Hermanns and provide significant growth capital, financial sector & technology expertise as well as operational support, as fintus continues its ambitious growth strategy by solidifying its strong position in the DACH region and expanding its low-code banking platform (“fintus Suite”) across Europe. The fintus team will also benefit from significant investment in talent to expand operational capacity and drive sales.

Fintus was founded in 2017 in Frankfurt and has since successfully positioned itself as one of the leading German Software-as-a-Service (“SaaS”) providers for the automation and digitalisation of the financial services sector. Today, the company’s clients already include a double-digit number of Tier 1 to 3 banks and other sophisticated financial services companies, who use its powerful fintus Suite to automate and streamline complex lending processes (from initial contact with customers to assisting with credit decisions and portfolio management), thereby reducing costs and improving overall customer service. In FY’2021, fintus has grown more than 150% year-on-year and is extremely well placed for 2022, with a strong pipeline of new recurring SaaS contracts.

The fintus technology complements existing, core banking systems and enables its customer base to use the low-code platform in an agile and flexible manner to position themselves well in relation to both retail and commercial customers.  The easy management and customisation of processes is seamless, with the software interfaces and integration of all available banking information and data broken down into a single, simple and easy to use platform.

The DACH region is well known to AnaCap with the investment in fintus following the recently completed acquisition of WebID Solutions in September of this year, another FinTech company providing leading digital identification solutions to blue-chip German corporates and financial institutions, and an existing technology partner of fintus. These recent acquisitions follow the already successful trajectory of another portfolio company MRH Trowe (“MRHT”), with eleven bolt-on growth acquisitions made to date as part of an accelerated buy-and-build strategy in the large and fragmented German corporate insurance broking market.  AnaCap will further leverage its experience from its highly successful buy-and-build strategy for payments company heidelpay (now “Unzer”) across the region and subsequent successful exit to KKR.

Benjamin Hermanns, CEO and Founder at Fintus commented:

“We have had multiple enquiries recently and have been delighted with the interest shown by prominent investment companies. It was very important for us to find a partner who has a strong entrepreneurial mindset and understands software, the financial services industry and FinTech alike. We have found in AnaCap an ideal partner to support the pan-European growth of fintus, leveraging our impressive track record in recent years which we attribute to the commitment of our employees and customers alike.”

 

Tassilo Arnhold, Private Equity Partner at AnaCap, added:
“We are thrilled to be partnering up with Ben and the team to help drive the next chapter of fintus’ exciting growth story – since its inception in 2017, fintus has managed to win an impressive list of blue-chip SaaS clients, leading to a triple digit annual growth historically. While there is significant room to grow in the DACH market, we also see huge potential in scaling the business across Europe, given the multi-lingual and low code nature of the fintus software.  We will invest significant capital to build-out the management and business development team further, while also introducing new distribution channels and exploring opportunistic buy-and-build strategies as well, in line with our other successful DACH investments”

On this transaction, fintus’ shareholders were exclusively advised by IEG – Investment Banking Group (corporate finance) and act AC Tischendorf (legal), whereas AnaCap received advice from GCA Altium (corporate finance), Proskauer Rose (legal advice – London) and Norton Rose Fulbright (legal advice – Munich). The transaction is subject to the usual closing conditions.

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Aibel wins major contracts with Equinor

Ratos

Aibel has signed four contracts with Equinor valued at approximately NOK 5 billion, including option clauses.

The contracts are based on the long-standing partnership between Aibel and Equinor as well as Aibel’s strong competitiveness. They entail a continued multi-year investment in Aibel’s Norwegian organisation, primarily in Haugesund, Harstad, Asker and Stavanger.

For further information:

https://aibel.com/news/aibel-signed-four-new-equinor-contracts

Christian Johansson Gebauer
Board member of Aibel and President Business Area Construction & Services, Ratos
+46 8 700 17 00

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

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Fortino Capital to lead €3m Seed round in EdTech start-up Peers, which aims at closing the employee skill gap in Europe

Fortino Capital

Amsterdam / Berlin, 23.11.2021 – To accelerate its growth trajectory, Peers has completed an oversubscribed €3 million Seed round. The Seed round is led by Benelux-based, B2B software investor Fortino Capital, alongside Berlin-based, female founder investor Auxxo, and Seed + Speed Ventures (part of the Maschmeyer Group). TRUMPF Ventures and various Business Angels are also joining the round.

According to the World Economic Forum, 50 percent of employees will need new or different skills in the next four years. Meanwhile, corporate learning and development is often cumbersome, not tailored to employees’ needs, and ultimately ineffective. Berlin-based Peers Solutions has developed a solution that creates individual learning programmes for any employee within five minutes. Peers’s ambition is to develop the smartest and fastest learning path generator that can service the majority of the workforce of medium sized and large businesses across Europe.

“Today, continuous learning is a crucial factor for business success. Peers is very well positioned to support companies in bridging their employees’ skill gaps with a solution that defines individualised learning and development trajectories across professions and industries, and which has proven to be highly effective and strongly appreciated by its users.” Wouter Goossens, Investment Director at Fortino Capital Partners

 

Individualized training at the push of a button

At the core of the start-up is its AI-powered learning path generator SELENA. SELENA creates individualised learning and development programmes for thousands of users in a matter of minutes. To do this, SELENA identifies the users’ learning needs and finds suitable learning offerings that are already on the market, paired with content from the respective company.

At the same time, employees record their actual and target skills in line with their job profile. The data for these target skills is based on ESCO, a database of the European Commission with over 12,000 skills. The learning units include theoretical, practical, digital, and face-to-face content, and are delivered by partners such as the Haufe Akademie, Pink University, TÜV Rheinland, and others. Managers, HR staff, and learners can track their success directly on the Peers learning platform.

“Developing individual learning programs manually costs us months. Peers is the extended arm of personnel development, which we use to train our employees faster and in a more targeted manner.” Kerstin Kägler, Head of Corporate HR Learning & Development TRUMPF GmbH + Co. KG

Founder and CEO Elisa Hertzler and co-founder Dr. David Topf spun Peers off from within TRUMPF, the high-tech company that is also invested through TRUMPF Venture. Peers is therefore firmly anchored in industrial and medium-sized businesses. By now, the solution is also used by large companies in real estate, the services industry, and other industries – with great success.

“We want to enable everyone to reach their full potential, regardless of their background, age or the company they work for. Individualised and transparent training is crucial for this.” Elisa Hertzler, Founder CEO Peers Solutions GmbH

 

About Peers Solutions

Peers is a globally unique learning platform for individualized training at your fingertips. Based on artificial intelligence, the start-up identifies learning needs and finds suitable learning offers from the market, supplemented by their customers’ own content. The start-up was founded in 2019 by Elisa Hertzler and Dr. David Topf.

www.peers-solutions.com

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