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Corus and Signadens join forces for European leadership in digital dentures

Quadrum Capital

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

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

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

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

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

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

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

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

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

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

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

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Pearlman Group Acquires CleanSource

Stephens Group

Continues to Scale in Cleaning & Restoration via Partnership

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

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

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

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

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

ABOUT PEARLMAN GROUP

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

ABOUT CLEANSOURCE

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

ABOUT THE STEPHENS GROUP, LLC

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

CONTACT:

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

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

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

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

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

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

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

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

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

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

The transaction was closed on 17 March 2022.

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

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

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

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

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

More info: www.guardian-hygiene.com

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Adams Street Appoints Joost Mioch as Head of Benelux Region

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

 

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

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

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

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

About Adams Street Partners

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

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

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Clearlake Capital and Motive Partners Agree to Acquire BETA+ from London Stock Exchange Group

Motive Partners

Clearlake Capital and Motive Partners to acquire BETA,
Maxit, and Digital Investor from LSEG, adding new
capabilities to their wealth ecosystem, and forms a strategic
partnership between BETA+, the Sponsors’ portfolio
companies and LSEG

Santa Monica, New York, London, March 21, 2022 – Clearlake Capital Group, L.P.
(“Clearlake”) and Motive Partners (“Motive” and collectively, the “Sponsors”), today
announced that they have entered into a definitive agreement to acquire the BETA+ assets
from London Stock Exchange Group (“LSEG”), which encompasses the assets of BETA
(securities processing, custody, clearing, and asset servicing technology), Maxit (cost and
tax basis reporting software), and Digital Investor (front-end client solutions), collectively
referred to as “BETA+”. Additionally, Clearlake and Motive Partners have simultaneously
formed a long-term strategic partnership with LSEG, in which LSEG will provide content,
data, and tools to BETA+ and the Sponsors’ other portfolio companies.

The wealth management industry continues to demonstrate opportunities, bolstered by
tailwinds across the spectrum including a significant movement in technology
modernization, industry consolidation, increases in retail trading, and democratization of
the capital markets. Over recent years, the space has exhibited growth across various
avenues, compounded by investment from new and established players. This has presented
opportunities for well-placed investors and innovators to digitize legacy technology,
expand product offerings to address unmet demand, and create efficiencies along the
value chain.

Clearlake and Motive’s thesis in wealth management technology focuses on providing the
Wealth Management industry with frictionless digital experiences, catalyzing the
democratization of wealth solutions, and delivering hyper-personalized solutions to end
clients. By acquiring the BETA+ assets from LSEG and creating a standalone platform,
Clearlake and Motive intend to execute on a buy and build strategy, supported by
Clearlake’s proprietary O.P.S.® framework and Motive’s value creation plan developed by
Motive Create and the Industry Partner team. This will include building critical platform
infrastructure on the back-end of the Wealth workflow, with a plan to utilize proprietary
expertise and know-how to augment the core BETA+ platform technology, enhance
functionality for the existing blue-chip client set, enter new and high-growth markets, and
cultivate partnerships within the combined Wealth ecosystems of the Sponsors. Clearlake
and Motive continue to execute on a similar thesis with their existing portfolio company,
InvestCloud. The Sponsors are also focused on the long-term strategic partnership between
BETA+, the Sponsors’ other portfolio companies and LSEG, to offer new products and
greater operational efficiencies to clients across these various platforms.

The Sponsors were advised by Wells Fargo as exclusive financial advisor, Sidley Austin LLP
as legal counsel, Deloitte as accounting, tax, carveout and human resources counsel, BCG
as commercial advisor, and Motive Create for technical due diligence. Gibson, Dunn &
Crutcher LLP also acted as legal counsel for Motive Partners. The deal is expected to close
in the second half of 2022, subject to regulatory approvals and other customary closing
conditions.

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, longterm
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 $60 billion of assets under management, and its senior
investment principals have led or co-led over 300 investments. The firm is headquartered in
Santa Monica, CA with affiliates in Dallas, TX and London, UK.
More information is available at www.clearlake.com and on Twitter @Clearlake.
“BETA+ has established a strong position in the self-clearing technology space and
broader wealth management ecosystem with a reputation for meeting the unique
needs of global financial institutions and their clients,” said Behdad Eghbali, Co-
Founder and Managing Partner, and James Pade, Partner of Clearlake. “We
look forward to partnering with Motive Partners, the BETA+ team, and LSEG as the
company continues to provide best-in-class solutions to its blue-chip customer
base.”

“BETA+, together with our other portfolio companies, will be focused on creating
frictionless, digital-first experiences for clients, advisors, and home office personnel
with streamlined processes, reduced costs, and increased retention and
satisfaction, ultimately making it easier for Wealth clients to obtain solutions which
address their financial needs. We’re looking forward to partnering with Clearlake
once again to continue our transformation of the wealth management sector at a
critical time for the industry,“ said Stephen C. Daffron, Co-Founder and Industry
Partner of Motive Partners.

About Motive Partners
Motive Partners is a specialist private equity firm with offices in New York City and London,
focusing on control-oriented growth equity and buyout investments in software and
information services companies based in North America and Europe and serving five
primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment
Management and Insurance. Motive Partners brings differentiated expertise, connectivity
and capabilities to create long-term value in financial technology companies.
More information on Motive Partners can be found at www.motivepartners.com

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ClearBank raises £175 million led by Apax Digital to accelerate global expansion

Apax
21ST MARCH 2022
  • ClearBank is the #1 ranked fastest-growing UK tech company according to Deloitte
  • Largest UK next generation clearing and embedded banking platform, with more than 200 financial institutions and fintech customers, 13 million accounts, and £3bn in balances
  • The only next generation player with direct access to all bank payment schemes, and the only embedded banking provider delivering bank accounts at scale, in the UK
  • Investment will accelerate ClearBank’s international growth and expansion into new partnerships, products, and services

 

ClearBank, the largest next generation clearing and embedded banking platform in the UK, today announced a £175 million equity investment. The round was led by funds advised by Apax Digital, the growth equity arm of Apax, a leading global private equity advisory firm. Existing investors, CFFI UK Ventures (Barbados) Ltd and PPF Financial Holdings BV, also participated.

The new investment will accelerate ClearBank’s global expansion of its clearing and embedded banking offering, initially in Europe before moving into North America and Asia Pacific.

The first new clearing bank in the UK in over 250 years at launch in 2017, ClearBank is the only next generation payments provider with direct access to all banking payment schemes in the UK (e.g. Faster Payments, BACS, CHAPS). As a regulated bank, ClearBank manages transactions end-to-end from order transmission to settlement, liquidity management and clearing.

As a leading supplier of embedded banking services in the UK, ClearBank provides over 13 million accounts to the customers of leading financial brands. ClearBank is the only platform providing bank accounts, with FSCS deposit protection, at scale, bringing embedded banking services to the mass market. This product offering is complimented by a range of related value-added services, including FX and multi-currency accounts

Unlike other providers with legacy systems, ClearBank’s end-to-end offering of regulated financial services is accessed via a single API to a powerful cloud-native software platform, which delivers greater speed, efficiency, and ease-of-use. It also enables innovation, including settling payments between customers on the ClearBank platform instantaneously, removing friction and lowering cost.

As a truly cloud native bank, the platform offers a new paradigm in resilience, with industry-leading uptime with no downtime for maintenance, unlimited scalability and elasticity, and triple real-time redundancy. Operationally, ClearBank has built a financially sustainable and highly scalable, low risk, business model, with all its £3bn of deposits held securely at the Bank of England, providing complete peace of mind.

ClearBank has seen tremendous growth and has been recognised as the #1 fastest growing tech company in Deloitte’s 2021 UK Technology Fast 50 awards together with the 2021 Card & Payments Award for Best Service.

This impressive combination has led to a customer base of over 200 financial institutions and fintechs, including Tide, Coinbase, Chip and Oaknorth Bank. ClearBank is also the only financial services provider to be awarded two grants, totalling £85 million, from the Banking and Competition Remedies (BCR) fund in delivering competition and innovation to UK SMEs.

ClearBank also plans to expand its range of products and services to include direct API-based access to interbank payment schemes such as SEPA, enhanced multi-currency accounts, and additional FX services. These capabilities will allow ClearBank to support existing customers in scaling internationally and welcome new customers in multiple markets.

Charles McManus, CEO at ClearBank, said: “ClearBank is the first proven and fully regulated cloud-native clearing bank in the UK for over 250 years. Over the last five years we have demonstrated the success of our business model and through our work with leading financial service providers, helped to both unlock their potential and bring about positive and meaningful change for UK businesses and consumers.”

“Our revenue growth is the proof of the momentum we have been gathering since 2017. It is this proof point and our transformative effect on access to banking services, traditionally a space characterised by high barriers to entry, which has given us the credibility to partner with and deliver seamless and secure embedded banking for award winning financial institutionspowerful fintech disrupters and government bodies alike.”

“The next challenge is delivering this innovation globally. To achieve this, we needed a strategic partner with the right cultural fit, sector expertise and geographic experience, something we found in Apax Digital.”

Mark Beith, Partner at Apax Digital, said: “All companies are becoming fintech companies, and ClearBank is providing the clearing and embedded banking infrastructure for them – starting with fintechs themselves. We’ve seen the power of its platform first-hand, and we are excited to partner with Charles and the existing shareholders to take ClearBank global.”

Niccolo Ferragamo, Principal at Apax Digital, added: “Combining a banking license with a modern, agile and scalable embedded banking infrastructure is hard. Doing it at scale, and while delivering exceptional customer satisfaction, is truly special. ClearBank has been quietly building the clear next generation leader in the UK on all key metrics, and we are thrilled to continue innovating the category together.”

ClearBank was advised by Herbert Smith Freehills LLP. The investment remains subject to PRA and FCA approval.

 

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3i European Operational Projects Fund invests in ‘La Seine Musicale’

3I

3i Group plc (“3i”) announces that 3i European Operational Projects Fund (“3i EOPF” or “the Fund”) has acquired an 80% equity stake in La Seine Musicale from Infravia European Fund II.

La Seine Musicale is a 30-year French PPP benefiting mainly from availability-based revenues from the Hauts de Seine département, a strong public counterparty. The project comprises a multi-functional performance complex located on Seguin Island on the Seine river, downstream from central Paris. Its facilities include a 6,000 seat concert hall, a 1,150 seat auditorium, and one of the largest recording spaces in the Paris area, as well as venues for corporate events.

La Seine Musicale hosted the Junior Eurovision Song Contest in December 2021 and will open its doors to Björk and Simple Minds in the spring. Starmania and Romeo and Juliet (ballet by Benjamin Millepied) are among the large-scale, public shows which will begin after the summer.

The site has been operational since 2017 and has attracted more than 1 million visitors to date. It is well located in the centre of a transportation hub offering direct access by road, metro, tram and bus, to which will be added a new footbridge due to open in 2022 and a metro station in 2025 as part of the Grand Paris Express.

La Seine Musicale’s concert hall is covered with more than 1,000m2 of photovoltaic panels. The panels pivot around the exterior following the path of the sun, providing shade for the interior and reducing energy consumption. The building was designed by a Pritzker Architecture Prize winner and won the MIPIM Best Futura Project award in 2015.

Stéphane Grandguillaume, Partner at 3i in charge of origination for the Fund, commented: “La Seine Musicale is a flagship in the French entertainment industry. As a relatively young asset it benefits from the latest energy efficiency and soundproofing technologies and its unique position on the Seine river makes it highly attractive. We look forward to building on its pre-eminent reputation.”

3i EOPF, which is managed by 3i’s infrastructure team, is a €456m fund investing in operational projects across Europe, with a focus on France, the Benelux, Germany, Italy and Iberia. It targets a wide range of sub-sectors, primarily social infrastructure and transportation, but also telecoms and utilities. It aims to provide long-term yield to institutional investors.

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CATHAY CAPITAL, EURAZEO AND SAGARD NEWGEN ENTER IN EXCLUSIVITY WITH A VIEW TO INVESTING IN DILITRUST, A LEADING FRENCH PROVIDER OF SECURE SOLUTIONS FOR LEGAL DEPARTMENTS AND GOVERNANCE BODIES

Eurazeo

Cathay Capital, Eurazeo via its Small-Mid Buyout1 team and Sagard NewGen have signed an
exclusivity agreement with a view to investing in DiliTrust alongside its management team led by
Yves Garagnon and Nadim Baklouti.

Under the agreement, the consortium of investors would become the group’s core
shareholder by investing more than €130 million, of which Eurazeo would invest €52 million.
Calcium Capital, which has been a financial investor in DiliTrust since 2017, is selling all of its stake.
With the DiliTrust Governance Suite, DiliTrust offers a unified and secure platform, composed of
different modules to meet the growing digitalization needs of legal departments and governance
bodies of large corporates, SMEs and public entities. The SaaS editor supports more than 2000
organizations in their efforts to automate processes, improve performance and protect their
strategic and sensitive data. DiliTrust enables them to achieve these objectives, notably through a
board portal for managing board meetings, as well as modules for managing legal entities and
managing contracts and litigations.

In 2021, the group, which employs more than 160 people worldwide, achieved a turnover of nearly
20 million euros, half of which was generated internationally, with an increase of around 30% per
year in recent years. Already present in France, Canada, Italy, the Middle East and Africa, DiliTrust
has also strengthened its presence in Spain and expanded its operations in Latin America following
the acquisition of Gobertia last year.
DiliTrust is continuing to expand by gaining new clients in France and abroad, and it intends to
complement this expansion with an active buy-and-build strategy, with the support of its new
financial partners. Cathay Capital, Eurazeo, Sagard NewGen and DiliTrust’s management team
intend to leverage the company’s best-in-class skillset, strong reputation and robust underlying
market growth in order to achieve their shared ambition of accelerating DiliTrust’s growth and
build a global leader in legal and governance solutions.

Yves Garagnon, CEO of DiliTrust, said:
“The need to digitize and secure the most sensitive corporate data is growing.
We have a robust suite that fully meets these challenges, particularly for boards
of directors and legal departments. We are recognized for the ease of use and
performance of our suite and are identified as one of the world’s leading
players by major analysts such as Gartner. We are delighted with the confidence
placed in us by this consortium of investors.”
2
Jérémie Falzone, Partner at Cathay Capital, Benjamin Hara, Member of Eurazeo Mid Cap’s
Executive Board and Guillaume Lefebvre, Partner at Sagard NewGen said:
“We are very happy to support DiliTrust and its management team led by Yves
Garagnon with the ambition of creating a global leader in governance solutions.
The Enterprise Legal Management software market is growing rapidly, in line
with the general acceleration in the take-up of LegalTech solutions. DiliTrust is a
leading player in this market with an integrated software suite that has won
over a number of top-tier clients. We are excited about the prospect of bringing
the international business networks, sector expertise and active support of
Cathay, Eurazeo and Sagard to help DiliTrust achieve its ambitious strategy,
based on a combination of organic growth and acquisitions.”

Cédric Duchamp, Managing Partner at Calcium Capital, said:
“We are proud of the achievements since 2017, working alongside DiliTrust and
its management team led by Yves Garagnon. The company has demonstrated
an outstanding ability to anticipate key market trends and to meet the needs of
the most demanding clients. We are delighted to see Cathay, Eurazeo and
Sagard team-up to continue the work with DiliTrust in the next phases of
acceleration of its development.”

PARTICIPANTS TO THE TRANSACTION:
 Cathay Capital: Jérémie Falzone, Felix Wang, Marion Prieur
 Eurazeo: Benjamin Hara, Clément Morin, Claire Berthoux, Bastien Estival, Cécile Gilliet
 Sagard NewGen: Guillaume Lefebvre, Agnès Huyghues Despointes, Martin Klotz
 Calcium Capital: Cédric Duchamp, Antoine Gravot
 Financial advisors: Bryan Garnier & Co (Thibaut de Smedt, Stanislas de Gmeline, Jonathan
Bohbot) and Natixis Partners (Nicolas Segretain, Romain Etienne)
 Legal advisors: Hogan Lovells (Stéphane Huten, Pierre-Marie Boya) and McDermott Will &
Emery (Grégoire Andrieux)
 Financial due diligence: Eight Advisory (Stéphane Vanbergue, Victor Heilweck) and Alvarez
& Marsal (Jonathan Gibbons, Samih Hajar)
 Strategic due diligence: Roland Berger (Cyrille Vincey, Mouhsine Aguedach) and Kearney
(Julien Vincent, Hadi Benkirane, Hugo Khelifa)
 Legal, fiscal and social due diligence : Hogan Lovells (Stéphane Huten, Pierre-Marie Boya)
 IT due diligence: Make it Work (Frédéric Thomas), EPAM (Philippe Trichet, Neil Holton) and
I-Tracing (Michel Vujicic)
 Seller financial advisors: Macquarie Capital (Fady Lahame, Guillaume Basini)
 Seller legal advisors: FTPA (Bruno Robin, Charles-Philippe Letellier) and Viguié Schmidt et
Associés (Fabrice Veverka)
 Seller financial due diligence: PwC (Philippe Serzec, Manil Bengana)
 Management advisor: Axance Finance & Development (Antoine Rimpot)

ABOUT DILITRUST
 As a SaaS solution provider for over 25 years, DiliTrust offers its DiliTrust Governance suite
dedicated to corporate governance and the secure sharing of sensitive and confidential data.
This unified and ultra-secure platform is designed for legal departments and governance
bodies. It includes various complementary modules, notably for the digitization of bodies, the
management of legal entities, contracts, litigation and disputes.
 DiliTrust has more than 2,000 customers in some 50 countries. Major groups in Europe, North
America, Africa and the Middle East trust DiliTrust, including: Almarai, AccorHotels, Ecobank,
Royal Bank of Canada, BNP Paribas, Bouygues, Caisse de Dépôt et de Gestion du Maroc,
Campari, Capgemini, Carraro, Commercial Bank of Dubai, Desjardins Capital, EDF, Engie,
Eutelsat, Geox, Ingenico, Koç, Loto-Quebec, LVMH, Luxempart, Renault, Groupe Robert, SNCF,
Société Générale, Transports de Montréal, Tereos, UNICEF, Veolia, City of Montreal and Vivendi
 https://www.dilitrust.com/a-propos-de-dilitrust/
 PRESS CONTACT: Tahiana Tissot (tahiana.tissot@dilitrust.com – +33 1 42 91 92 41)

ABOUT EURAZEO
 Eurazeo is a leading global investment company, with a diversified portfolio of €31 billion in
assets under management, including €22 billion on behalf of third parties, invested in over
450 companies. With its considerable private equity, private debt, real estate and
infrastructure expertise, Eurazeo accompanies businesses of all sizes, supporting their
development through the commitment of its nearly 360 professionals and offering in-depth
sector expertise, a gateway to global markets, and a responsible and stable foothold for
transformational growth. Its solid institutional and family shareholder base, robust financial
structure free of structural debt, and flexible investment horizon enable Eurazeo to support
its companies over the long term.
 Eurazeo has offices in Paris, New York, London, Frankfurt, Berlin, Milan, Madrid, Luxembourg,
Shanghai, Seoul, Singapore and Sao Paulo.
 Eurazeo is listed on Euronext Paris.
 ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA
 www.eurazeo.com
 PRESS CONTACT: Maël Evin, Havas (mael.evin@havas.com – +33 6 44 12 14 91)

ABOUT CATHAY CAPITAL
 Cathay Capital Group is a global investment firm supporting companies at all stages
throughout North America, Asia, Europe and Africa. By helping navigate the opportunities of
globalization and sustainable transformation, Cathay is the partner of choice for companies
aspiring to lead markets and make a positive impact. Its global platform connects people –
from investors and entrepreneurs to management teams and leading corporations – across
continents to share knowledge, the tools to scale, and achieve the extraordinary. Founded in
2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $4.2
billion in assets, has completed over 220 investments with the global reach and local expertise
of its offices in Paris, Munich, New York, San Francisco, Shanghai, Shenzhen, Beijing and
Singapore.
 www.cathaycapital.com
 PRESS CONTACT: Yoann Besse, Citigate Dewe Rogerson
(yoann.besse@citigatedewerogerson.com – + 33 6 63 03 84 91)

ABOUT SAGARD NEWGEN
 Sagard NewGen aims to support the development of leaders in the healthcare and technology
sectors. The fund was established to make majority and minority equity investments,
financing the growth strategy of profitable European companies that share its commitment
to innovation and sustainability (revenues of up to €150 million).
 Sagard NewGen extends the international platform’s European base alongside Sagard MidCap
and Portage Venture. Sagard NewGen provides management teams with bespoke support
and a high value-added ecosystem that has truly international reach through its presence in
Europe, North America and Asia.
 Sagard has offices in Paris, Montreal, Toronto, New York, San Francisco and Singapore.
 www.sagard.eu
 PRESS CONTACT: Lucie Wallet, (lucie.wallet@sagard.com – +33 1 53 83 30 39)

ABOUT CALCIUM CAPITAL
 Calcium Capital brings together the capital of entrepreneurs, managers and families who wish
to invest in attractive SMEs while giving them the benefit of their experience and network.
Calcium Capital’s mission is to take equity stakes of between €5m and €20m in promising
companies for which it aims to be an active shareholder with high added value.
 Calcium Capital has a diverse and complementary team of investors and partners who are
committed to the long-term viability of companies, while respecting their culture and values.
 www.calciumcapital.com
 PRESS CONTACT: Cédric Duchamp (cd@calciumcapital.com)

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Ratos makes changes to leadership of Oase Outdoors

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Ratos

Oase Outdoors (Oase) co-founder Henrik Arens will pass on his current role as CEO to Henrik Bernth in late summer 2022. In conjunction with the appointment of a new CEO, Henrik Arens will take on the role as Chairman of the Board of Oase. Anders Slettengren, President Business Area Consumer at Ratos and current Chairman of the Board, will continue as a Board member.

 

Henrik Arens has, for many years, provided the leadership and experience required to bring Oase to its current position as a leading manufacturer of camping equipment in the European market. Henrik Bernth is well known to many in the industry, having held the position as Sales Director at Oase before moving to the Danish Ocean Textile Group as its CEO three years ago. Bernth is now re-joining Oase to take on his new position by 1 August 2022 at the latest.

“I would like to thank Henrik Arens for his outstanding commitment. Oase has achieved an impressive development under his leadership. Furthermore, it is positive that his successor Henrik Bernth already knows the company. This will guarantee stability and speed in execution. I also look forward to continuing my cooperation with Henrik Arens, now as a Board member,” says Anders Slettengren, current Chairman of the Board of Oase and President Business Area Consumer at Ratos.

“With a clear strategy, a year with record-high growth and an industry with a healthy future, the timing is good for a new CEO to lead Oase into the future,” says Henrik Arens.

“I am humble and proud to be taking on the role as CEO of Oase. I am familiar with the company but I am nevertheless impressed with its amazing development in recent years. I very much look forward to leading the way, together with the Oase team, as Oase takes the next step in its growth journey,” says Henrik Bernth, incoming CEO of Oase Outdoors.

About Oase Outdoors
Oase Outdoors develops, designs and sells innovative camping and outdoor equipment under three strong brands: Outwell ®, Easy Camp® and Robens®. Oase Outdoors offers a broad product range mainly comprising tents, camping furniture, sleeping bags and other outdoor equipment. The three independent brands clearly cater to different target groups – families, beginners, festival goers and experienced adventurers – who have different requirements in terms of quality and price, and who want to enjoy the outdoors with high-quality equipment.

For further information:
Anders Slettengren, Chairman of the Board of Oase Outdoors and President Business Area Consumer, Ratos, +46 72 589 89 00
Henrik Arens, CEO, Oase Outdoors, +45 40 58 38 89
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total in 2021, the companies had approximately SEK 35 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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Audax Private Equity Announces Agreement to Sell Lifemark Health Group to Loblaw Companies Limited

Audax Group

Audax Private Equity (“Audax”) today announced that it has entered into a definitive agreement to sell Lifemark Health Group (“Lifemark” or the “Company”), a leading provider of physiotherapy, rehabilitation, and medical assessments in Canada, to Loblaw Companies Limited (TSX: L) (“Loblaw”).

Headquartered in Toronto, ON, Lifemark is a leading provider of outpatient physiotherapy, massage therapy, occupational therapy, chiropractic, mental health, and other ancillary rehabilitation services. With over 20 years of service, Lifemark is one of the largest and most trusted providers in Canada. As a national healthcare company, Lifemark employs over 5,000 highly trained clinicians, medical experts, and team members in over 300 locations across Canada.

Since partnering with Audax in December 2015, Lifemark has completed over 50 acquisitions, broadened its service offering, and significantly expanded its national footprint. In partnership with Audax, Lifemark also invested heavily in the organic growth of its platform, systems, and key talent to support and sustain continued success.

“Peter and the Lifemark team created a phenomenal business built on the foundation of excellent clinical service,” said Keith Palumbo, Managing Director at Audax Private Equity. “The outpatient physical therapy industry remains highly fragmented and vast, and we’re very proud of the growth we were able to achieve at Lifemark through facility utilization gains, geographic expansion, new services, and acquisitions. We wish them all the best as they continue their journey with Loblaw.”

“At Lifemark, we continually look for the most impactful ways to support Canadians on their healthcare journey, and we are grateful to our partners at Audax for helping us to invest in and develop opportunities that advance physiotherapy and rehabilitation services in Canada,” said Peter Stymiest, Chief Executive Officer of Lifemark Health Group. “We look forward to what the future holds for our patients, clients, and team in partnership with Loblaw.”

The sale of Lifemark is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close in the second quarter of 2022.

Harris Williams is serving as financial advisor and Blake, Cassels & Graydon LLP and Kirkland & Ellis LLP are acting as legal advisors to Audax Private Equity.

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