ProData Consult to acquire French emagine Group to create the leading European provider of high-end business and IT consultants

Axcel

Axcel has signed an agreement whereby ProData Consult partners with Paris-based emagine Group, gaining a strong foothold in France, Germany, and the United Kingdom.

ProData Consult, the leading Northern European talent-centric provider of high-end business and IT consultants, today announced that it is to acquire emagine Group that holds a strong market position in France, Germany, and United Kingdom. The transaction, facilitated by Axcel, is a significant milestone for ProData Consult in its aspiration to grow outside of the Nordics and will be the fourth acquisition ProData Consult undertakes in less than two years.

Utilizing its proprietary IT platform, ProData Consult offers its blue-chip clientele scalability and access to quality-assured high-end business consultants and IT professionals, both through its large network of local freelance consultants and its Nearshoring-as-a-Service delivered from three hubs in Poland.

“We are convinced that emagine is a perfect match for us in terms of enlarging our geographical reach, the IT platform synergies to be realized, and our corporate culture. emagine’s prominent positions in their key markets France, Germany, and the UK fits perfectly with our position in the Nordics and Poland. The enlarged reach will enable us to offer major domestic and international clients a fully integrated pan-European range of high-end, coherent IT consultancy services”, says Anders Gratte, CEO, ProData Consult.

ProData Consult, based in Copenhagen, reached EUR 202m in revenue in 2020 and employs 150 people. Servicing clients from 14 office locations in Europe and India, emagine Group achieved EUR 150m in revenue in 2020.

The double-digit organic growth ProData Consult has experienced in recent years is fuelled by the fact that digitalization is a top priority for most companies and their management teams in the Nordics and across Europe, according to Anders Gratte.

“Scalability and access to the most skilled IT resources in flexible, agile, and scalable models are more important than ever in the current unpredictable and fast-moving business environment,” says Anders Gratte.

 

emagine Group, headquartered in Paris, incorporates both consultancy and technical expertise in business, information technology, and engineering, providing clients with professional advice and expert skills to further develop and maintain their business performance.

Jean-François Bodin, CEO of emagine Group, said: “We are thrilled to join the ProData Consult team, a successful, fast-growing company with a strong IT platform, a great network, and impressive client portfolio. We are very similar to ProData Consult, and we share the same ambitions to deliver flawless services for IT and digitalization projects. We see great opportunities and look forward to developing synergies and expanding together”.

 

The private equity company Axcel announced their acquisition of ProData Consult on July 1st, 2021, and has facilitated the acquisition of emagine Group by ProData Consult as an important step in the aspiration to form a European IT consultancy powerhouse.

With an evident track record of growth, the ProData Consult management team has already done a great job of building a company in a prominent position in Northern Europe. We are very pleased to have facilitated this transformative acquisition of emagine Group. We believe that ProData Consult’s proprietary IT platform, competent organization and the continued market growth, driven by digitalization, will create a strong basis for further expansion, and we are excited about the potential we see ahead”, said Christian Bamberger Bro, Partner at Axcel.

 

Anders Gratte will continue as CEO of the combined businesses post-closing. Jean-François Bodin will remain part of management and play an instrumental role in the integration process of ProData Consult and emagine Group.

 

The acquisition of ProData Consult by Axcel closed in August 2021. The acquisition of emagine Group is subject to customary regulatory approvals in relevant jurisdictions and is expected to close in the third quarter of 2021.

 


About ProData Consult

Established in 1994, ProData Consult is a leading Northern European talent-centric provider of business and IT consultants. ProData Consult offers its customers time and material-based consultants through its freelancer network, Nearshoring-as-a-Service, and vendor management services. The company had close to EUR 200m in revenues (2020) and employs around 150 FTEs. In 2020, the company had more than 2,600 individual consultants working for some of the largest and most prestigious clients in Scandinavia and Poland. ProData Consult is headquartered in Copenhagen and has offices in Sweden, Norway, Poland, the Netherlands, and Germany.

About emagine Group

emagine Group provides clients with professional advice and expert skills to further develop and maintain their business performance. The focus is to maintain long-lasting relationships and look for ways to develop and deliver innovative technology and services to clients. The company had a revenue of EUR 150m in 2020, more than 1,150 individual consultants delivered projects in 24 countries. The company is headquartered in Paris and has offices in France, Germany, India, Ireland, and the United Kingdom.

 

About Axcel

Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of over EUR 2.8 billion. These funds have made 61 platform investments with well over 100 add-on investments and 43 exits. Axcel currently owns 18 companies.

 

Further information:
Geelmyuden Kiese
Paul Svinth Jensen
Senior advisor
e-mail: paul.svinth.jensen@gknordic.com
Tel: +45 4083 3230

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Waterland realizes investment in leading specialist orthopaedic care provider – ATOS clinic group gains new growth partner with ICG – ATOS management and ICG to enter strategic partnership

Waterland

Waterland Private Equity (“Waterland”) realizes its stake in ATOS, a leading network of specialist orthopaedic clinics across Germany. With Intermediate Capital Group (“ICG”), ATOS gains a new, financially strong partner with experience in the healthcare sector to support the group’s future growth significantly. To do so, ICG will rely on a close partnership with the current ATOS management team, which will also increase its stake in the clinic group. Further financial details of the transaction – which is subject to the usual approvals by anti-trust authorities and is expected to be completed in the fourth quarter of 2021 – were not disclosed.

ATOS Group is a network of nine clinics and multiple outpatient facilities specialising in cutting-edge orthopaedic care. ATOS’ success has been driven by a strong focus on exceptionally high medical standards, state-of-the-art infrastructure, and using the latest medical technolo-gies and practices. The medical excellence and high levels of patient satisfaction are delivered by leading and internationally renowned medical specialists – all experts within in their fields.

The first ATOS facilities were carved out of the clinic group MEDIAN in 2016 in order to set them on their own growth trajectory with the support of Waterland. At the time, Waterland set up an independent holding company for the three hospitals in Heidelberg, Munich and Braun-fels. In the five years that followed, Waterland and ATOS successfully implemented an ambi-tious buy & build strategy. Through the acquisition of further clinics and the systematic devel-opment of an outpatient network, a unique platform for state-of-the-art orthopaedic medical care was built. Recently, the construction of a new clinic in Wiesbaden was initiated and the renovation of the largest ATOS clinic (Braunfels) was successfully finished. Over time, ATOS’ management team was expanded and an integrated treatment concept developed so that pa-tients at ATOS experience top-quality medical care “under one roof”, from their outpatient ex-amination to the relevant operation as well as the clinical follow-up treatment.

Today, the ATOS Group, with over 1,000 employees, some 170 doctors, nine inpatient clinics, and eleven outpatient locations is managed out of Munich. It has become one of the quality leaders in the field of orthopaedic medical care in Germany. During the partnership with Wa-terland, the clinic chain’s turnover has more than tripled to around 130 million euros annually.

“When we founded ATOS Group, our aim right from the start was to establish a stellar brand in the orthopaedic sector. Through targeted acquisitions and continuous investments in treat-ment quality, top physicians and modern technologies over the past five years, we have achieved important milestones” explains Dr. Carsten Rahlfs, Managing Partner at Waterland Private Equity. “In our search for a new strategic partner, it was important for us to bring on board an experienced investor with the necessary industry know-how and entrepreneurial acumen. We are pleased to have found ICG, who is an extremely experienced healthcare investor, for the long-term growth of ATOS. We are convinced that the company will continue its success story under new ownership.”

“With Waterland’s support, we have been able to develop a small group of clinics into a leading orthopaedic network that is active throughout Germany, while not only maintaining our quality standards, but also significantly advancing them. Today, we perform over 20,000 operations per year and receive a recommendation rate of 98 percent, far above the national average. We would like to thank Waterland for their close support as partners throughout the holding period and look forward to embarking on the next phase of growth with our new partner ICG,” says Martin von Hummel, CEO of the ATOS Group.

The independent investment company Waterland Private Equity has extensive experience in the healthcare sector. In addition to ATOS, the company’s portfolio also includes leading rehabilitation clinic group MEDIAN, physiotherapy provider ATHERA, and care service provider Schönes Leben Group.

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L Catterton-Backed Airxcel Sells RV Group to THOR Industries

LCatterton

Airxcel’s HVAC Group Renamed AirX Climate Solutions, a Specialized HVAC Company, Well-Positioned to Consolidate a Large and Fragmented Industry

Greenwich, Conn. and Elkhart, Ind. – September 1, 2021 – L Catterton, the largest global consumer-focused private equity firm, today announced that its portfolio company Airxcel has sold its RV Group to THOR Industries, Inc. (NYSE: THO) (“THOR”) for an all-cash purchase price of $750 million, subject to standard post-closing adjustments. Airxcel’s retained segment will become AirX Climate Solutions, Inc., a pure-play leader, designer, manufacturer, and distributor of the most functionally critical products for specialty HVAC markets.

Since partnering with Airxcel in 2018, L Catterton has worked with CEO Jeff Rutherford and his team to advance the Company’s innovation pipeline with the launch of 55 new products, while also executing meaningful operational improvements across manufacturing, engineering, procurement, and logistics. In addition, L Catterton supported Airxcel in acquiring market leaders within the RV space, including CAN, a European manufacturer of cooking appliances, Cleer Vision, a manufacturer of windows and glass, and Aqua Hot, a designer and manufacturer of hydronic heating systems. These acquisitions have enhanced Airxcel’s best-in-class product offerings and extended its reach, particularly in Europe. Most recently, L Catterton and Airxcel have leveraged the Company’s unique global supply chain and domestic manufacturing capabilities to mitigate the impact of the pandemic and deliver significant market share growth across all product lines, including significant continued growth within OEM.

“This transaction represents a great outcome for Airxcel, L Catterton and THOR,” said Marc Magliacano, a Managing Partner in L Catterton’s Flagship Fund. “Over the last three years, our partnership with Jeff has driven significant growth across Airxcel’s business, expanding to new products and services, completing multiple strategic acquisitions, and driving increased market share across all of Airxcel’s product lines. We know the THOR team well, having previously sold Heartland RV to THOR in 2010, and we’re confident that Airxcel’s RV business will thrive under their ownership. We are excited to support the ongoing success of the HVAC business as a standalone company. We would like to thank all the Airxcel associates for their tremendous contribution.”

L Catterton played an invaluable role in our growth story, and we’re grateful for their partnership,” said Jeff Rutherford, CEO of Airxcel. “With their deep operational experience, L Catterton helped position Airxcel as the leading supplier of trusted brands for the RV and HVAC markets. We look forward to building upon these achievements as we enter this exciting next chapter, with the RV Group joining THOR and the HVAC Group becoming a standalone company. I would like to thank all the associates at Airxcel for their relentless commitment to success.”

Airxcel’s Specialty HVAC Group to Become AirX Climate Solutions, Inc.
With this transaction, Airxcel’s specialty HVAC Group will become a standalone, pure-play HVAC leader, AirX Climate Solutions, Inc. (“ACS”). ACS will have a portfolio of premier brands such as Marvair, Industrial Climate Engineering (“ICE”), Suburban AP, Eubank, and Custom Air Products & Services (“CAPS”). With the continued support of L Catterton, ACS will continue to extend its leadership as a committed and preferred partner to a broad range of specialty HVAC clients. ACS will be led by Rick Aldridge, currently President of the Specialty HVAC Group at Airxcel.

“With this transaction, we’re positioning ACS as a leader – and consolidator – in a highly fragmented space,” said Matt Lischick, Partner at L Catterton. “We see tremendous market expansion opportunities within Specialty HVAC given continued focus on air quality and purification, as well as accelerated investment in ACS’ end customer segments, such as telecom infrastructure and energy storage. We look forward to continuing to invest in the business and extending our partnership with Rick and the talented ACS team to drive innovation and value creation.”

Rick Aldridge, President of the AirX Climate Solutions group at Airxcel, said, “Over the last several years, we have successfully extended our reach and offerings both organically and through acquisitions, most recently adding valuable new end customer segments and expanding our service capabilities through our acquisition of CAPS. With a premier brand lineup and the support of L Catterton, ACS will have a strong platform and foundation from which to accelerate our growth. We look forward to continued expansion as we enhance our portfolio to bring more high-quality HVAC offerings to customers.”

The Company retained Baird to serve as lead financial advisor to Airxcel, with William Blair, Jefferies, and Nomura also serving as co-advisors. Kirkland & Ellis LLP served as legal advisor to Airxcel.

About Airxcel

Airxcel began in 1991 as a divesture of the Coleman RV Air Conditioner division. The company has continued to grow through innovative product development, market expansion, and strategic acquisitions. The Airxcel RV Group provides industry-leading products in recreational vehicle heating, cooling, ventilation, cooking, windows, window covering, side wall, and roofing materials under the current brands: Aqua-Hot, CAN, Coleman-Mach, Dicor Products, United Shade, Vixen Composites, Maxxair, MCD, Cleer Vision, and Suburban. The Airxcel specialty HVAC Group (“AirX Climate Solutions”) provides highly engineered cooling and ventilation solutions for telecommunications, energy development and storage, and education/multi-tenant housing industries under the brands: Marvair, Eubank, Industrial Climate Engineering (ICE), Suburban Applied Products, and CAPS. Airxcel’s 2,000-plus employees are based in eight facilities across the U.S. and Europe, where they design, manufacture, and distribute products all over the world. www.Airxcel.com

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 1989, the firm has made over 250 investments in leading consumer brands. For more information about L Catterton, please visit lcatterton.com.

L Catterton Contacts:
Andi Rose / Tanner Kaufman
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

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Ardian sells its minority stake in Berlin Brands Group, a global e-commerce company, to Bain Capital

Ardian

Berlin / Frankfurt am Main, September 1, 2021 – Ardian, a world leading private investment house, has signed an agreement with Bain Capital to sell its c.40-per cent minority stake in Berlin Brands Group (“BBG”), a global e-commerce company based in Berlin. Both parties have agreed not to disclose financial details of the transaction, which is still subject to the approval of the relevant regulatory authorities. Peter Chaljawski, the founder, CEO and majority shareholder, will continue to manage the company as the majority shareholder.

Berlin Brands Group is a global e-commerce company and a pioneer in direct brand marketing to end consumers (direct-to-consumer). The multi-brand company currently sells its 34 brands and 3,700 products via 100 online channels in 28 countries. The brands encompass the household appliances, consumer electronics, gardening and fitness equipment segments, and include Klarstein (klarstein.de), auna (auna.de), blumfeldt (blumfeldt.de) and Capital Sports (capitalsports.de). The company, which has been profitable since inception, currently has more than 900 employees across five countries and generated a turnover of EUR 334 million in 2020. Since Ardian became a shareholder in 2015, turnover has increased approximately fivefold, with the company’s number of employees having tripled. Through its sales channels in more than 20 European countries, the USA, China and Turkey, BBG offers its brands to more than 1.5 billion active customers globally. The company’s brand portfolio is represented on all major e-commerce platforms and is one of the world’s leading marketplace sellers on Amazon. To date, BBG generates the majority of its sales through its own brand shops. In December 2020, the company announced a comprehensive M&A strategy focussed on acquiring, integrating and scaling e-commerce brands across its platform.

Peter Chaljawski, founder and CEO of BBG, said: “As a pioneer in the direct-to-consumer business, we create, develop, buy and scale brands worldwide. With the support of Ardian, we have expanded our position worldwide as a trendsetting and agile multi-brand company. Our formula for success is to optimally combine in-depth knowledge in e-commerce with innovative brand building in order to offer our customers vibrant and attractive product worlds at an excellent price-performance ratio. Ardian has not only supported us with financial resources but has played an important role as an entrepreneurial partner and with its network in our successful internationalization, the creation of our own logistics and the development of an M&A strategy.”

Marc Abadir, Managing Director within the Ardian Expansion team in Germany, added: „BBG’s management and employees have an outstanding instinct for the trends of the future in the consumer sector and build them at an early stage with brands and products that convince consumers and testers alike. As a platform for well-known e-commerce brands, BBG has also clearly demonstrated its ability to acquire and integrate new brands. As a result, the company was able to increase its sales approximately fivefold during the period of our commitment. We are proud to have accompanied BBG on this path and have enjoyed the very strong partnership with Peter Chaljawski and his team.“

PARTIES TO THE TRANSACTION

  • Ardian Team:

    • Marc Abadir, Yannic Metzger, Janine Paustian
  • Legal:

    • Willkie Farr & Gallagher (Dr. Maximilian Schwab), Raue (Prof. Dr. Andreas Nelle)
  • Financial:

    • Deloitte (Tanya Fehr)
  • Tax:

    • Taxess (Gerald Thomas)
  • Commercial:

    • McKinsey (Dr. Holger Klärner)
  • M&A Adviser:

    • GCA Altium (Tobias Schultheiss)

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$114bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 780 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT BERLIN BRANDS GROUP

Berlin Brands Group (BBG) is a global e-commerce company and one of the pioneers in the direct-to-consumer business. The Berlin-based hidden champion currently sells over 3,700 everyday and trendy products across 34 of its own e-commerce brands. The goal: to become one of the world’s leading e-commerce companies with a ‘global house of digital brands’.

PRESS CONTACTS

ARDIAN – CHARLES BARKER CORPORATE COMMUNICATIONS

PETER STEINER

ardian@charlesbarker.de Tel: +49 69 79409027

TOBIAS EBERLE

ardian@charlesbarker.de Tel: +49 69 79409024

BERLIN BRANDS GROUP

HOSCHKE & CONSORTEN PUBLIC RELATIONS GMBH Andreas Hoschke

a.hoschke@hoschke.de Tel: 040 36 90 50 55

BERLIN BRANDS GROUP

press@go-bbg.com  

BAIN CAPITAL

JULIA TILLEY

Tel: +44 7815 068 387

GEORGINA WHITTLE

Tel: +44 7835 770 967

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Montagu agrees sale of Servelec

Montagu

Montagu, a leading European private equity firm, is pleased to announce that it has reached an agreement to sell Servelec , a leading software provider to healthcare and local authorities based in the UK, to The Access Group.

 

Headquartered in Sheffield, Servelec has over 40 years’ experience in developing mission-critical software solutions to deliver better care. The company is a trusted supplier to more than 45 NHS trusts and over 150 local authorities, providing an integrated approach across social care, healthcare, and education.

 

Servelec’s extensive product portfolio, including systems for electronic patient records, social care case management, schools’ admissions, youth services reporting and patient flow and bed management, is designed with the sole purpose to support effective decision-making and to maximise time spent providing efficient, patient-focused care.

 

Montagu acquired the Servelec Group via a public-to-private transaction in 2018, and since then has worked with the Company to increase its strategic focus on its core health and social care software products. This involved successfully divesting two non-core divisions, completing two complementary acquisitions, and driving significant investment in the business to further strengthen the management team, to scale-up its operating processes, and to accelerate and enhance the development of Servelec’s software products. This has resulted in significant revenue and profit growth, and enabled the business to improve and extend the digital care products it provides to its customers to help support their vital work in the community.

 

 

 

Edward Shuckburgh, Director at Montagu commented: “We first came into contact with Servelec ten years ago, and we immediately knew that the business was a strong fit for Montagu’s approach, spanning our core competencies in both healthcare and technology and addressing growing market needs for innovative digital tools to support care delivery. We are extremely proud of what we have achieved together – Ian and the team have delivered a step change in the professionalisation of the business and have significantly advanced both their products and customer service, which has contributed to Servelec’s very strong growth. As a leading provider of business management software to mid-sized organisations, The Access Group represents a clear strategic fit for Servelec, and we wish them well for the future.”

 

Ian Crichton, CEO at Servelec, said: “Our partnership with Montagu, a firm who shares our values, has been terrific. Technology provides us with endless opportunities to improve people’s lives and with Montagu’s backing we’ve invested heavily to accelerate growth and build a better business that’s ready to help UK society at a time of need. I’m delighted we have secured a great new home. The Access Group are culturally and strategically the best possible fit for the business, and I have no doubt that all of our stakeholders will benefit greatly from the new partnership.”

 

Arma Partners acted as corporate financial advisors to Montagu on the transaction.

3i-backed Havea accelerates the international growth of Aragan with the acquisition of ixX in Belgium

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3I

3i Group plc (“3i”) today announces that Havea Group (“Havea”), one of the European leaders in natural health products, has acquired ixX pharma, a key Belgian player in food supplements.

Founded in 2005 by Danny Bral and René Zagers, ixX pharma is one of the leading independent players in the Belgian premium food supplements market based on its unique scientific approach and renowned products, including ImmunixX, J-ixX and PEA-ixX. Thanks to René Zagers and Danny Bral’s commitment, ixX pharma has developed a large range of products in segments such as immunity, vitamins & minerals, and pain relief. Brand awareness and recommendations by pharmacists have enabled ixX pharma to achieve a 14% organic topline CAGR with c.€12m of revenue in 2020.

Aragan is Havea’s brand which specialises in the design and distribution in pharmacies of premium food supplements based on natural ingredients. The brand is mainly present in France and generates revenue of c.€30m.

By combining the expertise of Aragan in France and of ixX pharma in Belgium, Havea is supporting Aragan’s international growth and capitalising on the common DNA of the two brands, which is based on a scientific approach and the naturality of their products. The acquisition of ixX pharma also builds on Havea’s existing presence in Belgium, through Densmore & Vitavea.

The combined entity will enable Havea to accelerate its growth ambition for Aragan, which now has revenue approaching €50m, through accelerated digitalisation and e-commerce, increasing “medicalisation” of the brand, and a complementary brand offering with enhanced innovation capabilities.

Havea will leverage the expertise of the ixX pharma team, based in Nieuwkerken-Waas – in particular, Danny Bral, head of scientific research, development and marketing, René Zagers, commercial partner of the pharmacists for 40 years and Peter Coussement, head of operations – to continue to develop the brand. The transaction is expected to close in mid-September 2021.

Danny Bral and René Zagers, co-founders of ixX pharma said: “We recently decided to start a new development phase for ixX pharma, by joining a partner capable of boosting the brand’s growth. We are convinced that by joining Havea, ixX pharma will keep its unique identity while benefiting from the platform Havea has built for its brands.”

Nicolas Brodetsky, CEO of Havea commented: “I am thrilled to welcome ixX pharma and its team to Havea and for Aragan and ixX pharma to join forces. Both brands share a very similar model based on pharmacists’ advice. The brand awareness and expertise of ixX pharma in the Belgian food supplements markets will enable Havea to become a key player in Belgium, by leveraging the common DNA of ixX pharma and Aragan.”

Rémi Carnimolla, 3i France Managing Partner added: “ Only ten months after its last acquisition (of Calmosine), 3i is happy to support Havea with a new acquisition; the fifth acquisition in five years. The combination with ixX pharma is perfectly aligned with the group’s strategy of developing an international platform in the high growth, food supplements markets, particularly in the premium segment.”

 

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-Ends-

 

For further information, contact:

 

3i Group plc

Kathryn van der Kroft

Media enquiries

 

 

Silvia Santoro

Shareholder enquiries

 

Tel: +44 20 7975 3021

Email: kathryn.vanderkroft@3i.com

 

 

Tel: +44 20 7975 3258

Email: silvia.santoro@3i.com

 

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

 

About Havea

Havea Group develops, manufactures and sells a wide range of natural healthcare and wellness products, including dietary supplements, natural/organic cosmetics, medical devices and herbal teas. The Group’s turnover (c.€200m) is largely generated by its 7 strategic brands (Aragan, Biolane, Densmore, Dermovitamina, Naturé Moi, Vitavea and Yves Ponroy) and its presence across all major distribution channels in France and in over 60 countries worldwide.

 

About ixX pharma

ixX pharma is a Belgian company specialised in the development and distribution of food supplements in Belgium and Luxembourg. Founded in 2005, ixX pharma offers innovative products, with a strong R&D approach and based on solid scientific fundamentals to contribute to a healthier lifestyle.

 

Regulatory information

This transaction involved a recommendation of 3i Investments plc, advised by 3i France.

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3i invests in ten23 health to build a world-class global CDMO focused on biopharmaceuticals

3I

3i Group plc (“3i Group”) announces that it has partnered with Prof. Dr. Hanns-Christian Mahler to create ten23 health, a pure-play, patient-centric and sustainable biologics drug product contract development and manufacturing organisation (“CDMO”) focused on helping innovative biotech and pharma customers develop and commercialise injectable biopharmaceutical drugs.

Prof. Dr. Hanns-Christian Mahler, CEO of ten23 health, previously built a highly successful business within Lonza focused on drug product formulation development services and fill and finish manufacturing for biologics. Prof. Dr. Mahler led Lonza’s Drug Product Services business from inception, scaling the business during his leadership tenure. Prior to Lonza, Prof. Dr. Mahler served as Head of Pharmaceutical Development & Supplies at Roche, where he built its Biologics Product Development organisation.

Headquartered in Basel, Switzerland, ten23 health’s core service offering includes formulation development, drug product development and manufacturing, as well as testing services for sterile pharmaceutical products. These high-value services are critical to helping pharma and biotech customers turn a scientific concept and therapeutic modality into a viable sterile medicine that is optimised for manufacturability, patient access and ease of administration, and logistical favourability. ten23 health will further differentiate itself by making a positive impact for People and Planet. The company aims for a net zero emissions target from inception, exhibiting its patient-centricity not only in the quality of service that it delivers, but also in its sustainability focus.

As drug development activities across biologics modalities continue to accelerate, small biotechs and large pharma companies will increase outsourcing of key services which require unique and market tested expertise as offered by ten23 health. Such molecules are increasingly complex and inherently unstable, increasing the need for expertise in drug product development services to optimise products holistically for patient safety, product stability, and manufacturability.

Richard Relyea, Partner, 3i, commented: “We are delighted to be backing Hanns-Christian and the whole ten23 health team to build a leading biologics-focused CDMO. Hanns-Christian is one of the foremost leaders in a high-growth field who brings a proven track record in the biologics market. He has built a highly experienced team of experts and senior leaders with excellent credentials in the field of pharmaceutical product design and development and with an extensive global pharma network. We look forward to supporting ten23 health’s outstanding leadership team in growing the company and expanding its capabilities globally.”

Prof. Dr. Hanns-Christian Mahler, CEO, ten23 health, added: “There is significant unmet need in the biotech market as the number and complexity of molecules and therapeutic modalities increase which brings growing challenges with respect to stability, usability, and the successful commercialisation of medicines.

Our comprehensive offering will allow our clients to focus on the medicine and the patient, whilst leveraging our pharmaceutical expertise and knowledge to plan and de-risk product development. As a result, our strategic partners will profit from shorter product timelines and higher probability of technical success, ultimately leading to improved paths to commercialisation and maximised return on R&D efforts.

I’m delighted to be partnering with Richard and the team at 3i to create a leading biologics CDMO that can meet the evolving needs of our customers with expert service, a true partnership model with our clients, and a patient-centric focus. 3i’s demonstrated knowledge and deep understanding of the biotech landscape, including through investments in companies like SaniSure, made them a clear partner in building ten23 health into a leader in the development, manufacturing and testing of injectable medicines.”

 

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– Ends –

 

For further information, contact:

3i Group plc
Silvia Santoro
Investor enquiries
Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries
Tel: +44 7721 886 304
Email: kathryn.vanderkroft@3i.com

 

About 3i Group

3i is an investment company with two complementary businesses, Private Equity and Infrastructure, specialising in core investment markets in Northern Europe and North America.

3i’s Private Equity team provides investment solutions for growing companies, backing entrepreneurs and management teams of mid-market companies with an EV typically between €100m – €500m. We back international growth plans, providing access to our network and expertise to accelerate the growth of companies across the consumer, industrial, healthcare and business and technology services industries. For further information, please visit: www.3i.com

 

About ten23 health

ten23 health, headquartered in Basel, Switzerland, was founded in 2021 and is a development, manufacturing and testing company for biotech start-ups and the established pharmaceutical industry. The company supports life science customers globally in developing differentiated, stable, usable and safe injectable treatment options for patients. ten23 health is combining the latest scientific findings and proven and tested world-class industry and regulatory expertise. The company is forging new paths to support its clients in delivering safe and effective medicines to patients. ten23 health embeds fairstainability in all its practices and decisions and puts the focus on people – customers, employees, patients – and the planet.

 

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

health-release.jpg

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TX Group, Ringier, La Mobilière and General Atlantic form joint venture to create leading digital marketplace group

The merger of TX Markets and Scout24 Schweiz’s online marketplaces will form a leading Swiss group spanning the real estate, vehicle, financial services and general marketplace sectors. The joint venture will create one of the largest digital companies in Switzerland. All involved parties will hold minority interests in the joint venture. The independent group will pursue the medium-term goal of going public.

The TX Group will bring the TX Markets platforms Ricardo, tutti.ch, Homegate and Car For You to the new joint venture. Ringier and La Mobilière will provide the Scout24 Schweiz Group, which operates the platforms ImmoScout24, AutoScout24, MotoScout24, FinanceScout24 and anibis.ch. General Atlantic, a leading global growth equity investor, will serve as the fourth partner in the venture, supporting the group with its many years of international expertise in the field of digital marketplaces.

Lothar Lanz will serve as Chairman of the Board of Directors of the new, independent company. The experienced finance and digital expert is currently Chairman of the Supervisory Board of Home24 SE, Deputy Chairman of the Supervisory Board of TAG Immobilien AG and a member of the Supervisory Board of Dermapharm SE. He has also served on the Supervisory Boards of Zalando SE (Chairman) and Axel Springer SE. Previously, he was the long-time Finance Director of ProSiebenSat 1 Media.

Joern Nikolay, Olivier Rihs, Michèle Rodoni, Pietro Supino and Marc Walder will join the Board of Directors of the new joint venture.

Gilles Despas, currently CEO of the Scout24 Schweiz Group, will serve as CEO of the new joint venture. Despas was previously Chief Digital Officer and Group Chief Marketing Officer of Thomas Cook in London, and formerly served as Managing Director and CEO of Ebookers and HolidayCheck.

TX Group, Ringier and La Mobilière’s respective marketplaces have all posted strong growth in users and services offered in recent years. The platforms operate in an extremely demanding environment. Rising customer requirements and intensified international competition – from global platforms to fast-growing, disruptive start-ups – have created increasingly dynamic market conditions.

Joining forces to create one of the largest digital companies in Switzerland will enable the new joint venture to create a competitive marketplace service and operate as a pioneering leader in the Swiss market.

The new joint venture will also combine the expertise of the existing teams and digital talent to drive the development of innovative digital products and services. This, in turn, will enable the company to better meet user and customer needs. The joint venture will also make a substantial contribution to further digitalisation in Switzerland.

Pietro Supino, Chairman and Publisher of the TX Group: “Our partnership with General Atlantic, La Mobilière and Ringier is the result of a long process. It represents a major step for all participants and demonstrates Switzerland’s positive digital outlook amongst increasing international competition. We strongly believe that this merger will strengthen our successful marketplace platforms and ensure further growth. Increasing our relevance to our users is key, and we believe the merger will immediately improve efficiency for our business customers. Together, we will also be able to expand investment in product development and increase our appeal as an employer.”

Marc Walder, CEO of Ringier: “Ringier, TX Group and La Mobilière have succeeded in merging their leading real estate, vehicle, finance and classifieds platforms. General Atlantic brings complementary qualities as a globally recognised, successful investor in the field of digital marketplaces. The result is a uniquely positioned company in Switzerland. With this group, we will significantly expand our customer focus across all business areas. We will meet our customers’ requirements even more effectively through targeted investment in innovative products and services. This shared vision is the driving force of all the shareholders.”

Michèle Rodoni, CEO of La Mobilière: “As the leading Swiss insurer, we seek solutions that enable us to strike the right long-term balance between the fast-paced world of digital services and our long-standing, successful presence with our local independent general agencies. Through our investment in Scout24 Schweiz five years ago, we gained important knowledge in developing and expanding our products and services for the residential sector and SMEs. So for us, it is logical that we are a part of this now and in future, as one of the leading digital Swiss marketplaces is created.”

Joern Nikolay, Managing Director and head of German operations for General Atlantic: “We are very proud to help shape one of the leading digital companies in Switzerland alongside our new partners. As a global growth equity investor, we bring our many years of expertise in the strategic development of digital business models to the partnership, particularly in the online classified space. We are pleased to be part of this endeavour as we work towards driving its continued, long-term growth.”

TX Group AG will hold a 31% interest in the new joint venture; Ringier AG and La Mobilière will each hold a 29.5% share, and growth equity investor General Atlantic will have a 10% interest. The four shareholders will each have 25% of voting rights.

About TX Group

TX Group forms a network of digital platforms that offer users information, orientation, entertainment and services for everyday needs. Four independent companies operate under the umbrella of TX Group: TX Markets comprises the digital classified platforms and marketplaces in Switzerland; Goldbach handles advertising marketing in Switzerland, Germany and Austria; 20 Minuten is the company for commuter media in Switzerland and abroad; Tamedia leads the paid daily and weekly newspapers and magazines into the future.

About Ringier

Ringier AG is an innovative, digitalised and diversified Swiss media company operating in Europe, Asia and Africa. Its portfolio includes over 110 subsidiaries in the print, digital media, radio, ticketing, entertainment and e-commerce sectors and leading online marketplaces for cars, property and jobs. As a venture capital provider, Ringier supports innovative digital start-ups. Ringier, a family company, founded in 1833 as a publishing house and printing press, has invested consistently in the Group’s digitalisation and global expansion in recent years. In 2020, the company’s approximately 6,800 employees, operating in 18 different countries, generated revenues of CHF 953.7 million. Today, more than 69% of its operating profit already comes from digital, where Ringier is a leader among European media companies. Ringier represents independence, freedom of expression and a pioneering spirit.

About La Mobilière

Every third household and every third company in Switzerland is insured with La Mobilière. As of 31 December 2020, the all-lines insurer had a premium volume of approximately CHF 4.1 billion. Eighty independent general agencies with their own claims services provide cover to some 2.2 million customers at about 160 locations.
In its home markets of Switzerland and Liechtenstein, La Mobilière has about 5,900 employees and 338 apprenticeships. Established as a cooperative in 1826, La Mobilière is the oldest private insurance company in Switzerland. The Board of Directors of Schweizerische Mobiliar Genossenschaft ensure that the cooperative orientation of the group is maintained.

About General Atlantic

General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 400 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $65 billion in assets under management as of March 31, 2021 and more than 175 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Susanne Jahrreiss & Ralf Geissler
General Atlantic +49 89 309052950 mail@perfect-game.de

Ursula Nötzli
TX Group AG +41 76 462 52 45 ursula.noetzli@tx.group

Johanna Walser
Ringier AG +41 44 259 61 23 johanna.walser@ringier.ch

Alice Chalupny
La Mobilière +41 31 389 88 44 alice.chalupny@mobiliar.ch

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Connected Capital leads 12M investment in SurePay

Connected Capital
SurePay, inventor and leading provider of Confirmation of Payee (CoP) in the UK and Benelux, raised a €12.2 million round led by Connected Capital with Iris Capital, joining Rabo Frontier Ventures to boost the company’s international expansion.

The funding will support the hiring of new business development teams in Germany, the UK, a cross border team and new IT experts to scale the technology platform and to further develop new solutions for their customers. The company plans to launch bulk payments related products, cross border payments as well as expand SurePay PayID, a Pay Your Contacts solution, to offer new methods of secure and seamless payment services to its customers. The CoP for Organisations solution, based on its best-in-class Confirmation of Payee algorithm, will thus be made accessible across Europe.

Since its launch in 2016, SurePay has carried out four billion payment checks. Its solution helps banks and organisations avoid misdirected payments and reduce payment fraud by giving greater assurance that their payments are going to the intended beneficiary. The company estimated that its solution reduces misdirected payments by 67%, fraud in payments by 81% and leads to 80% less fraudulent onboardings for the clients using the platform.

SurePay is already a leader in the UK and its Dutch home market, these being the first countries to implement a nationwide Confirmation of Payee approach to reducing payment fraud.

Both new investors are specialised at scaling B2B SaaS solutions internationally and will help SurePay extend its leading position as a multi-country technology platform focused on reducing payment fraud.

Payments across Europe have increasingly shifted to digital channels, leading to growth in fraud cases throughout Europe due to methods such as phishing, spoofing, APP Scam and CEO fraud. Now over 30 banks and more than 150 corporates are using SurePay’s service. The platform’s strong performance has helped drive +400% year-on-year growth among corporates, which together with bank clients, is expected to drive growth going forward.Clients and partners include BNP Paribas, ING, ABN AMRO, Rabobank, NatWest Group, Atom bank, STRATO, BMW, Volvo leasing services and Deutsche Bank.

David Jan Janse, CEO and CO-Founder of SurePay, said: “We are on a mission to protect both our clients and their customers against the growing threat of fraud worldwide, giving them the reassurance that their payments are going to the intended recipient also cross-border and multi-domestic.” 

“We are very excited to welcome Connected Capital and Iris Capital as our new shareholders. Together with Rabo Frontier Ventures, their knowledge and experience will position us on a scale-up trajectory in important growth markets across Europe and connect to global standards.” he continued.

Wim Haring, Co-Founder and Managing Partner at Connected Capital “We are excited to lead the investment and support SurePay’s mission to become a leader in paytech to optimise payment processes, whilst reducing fraud. We look forward to actively supporting the team as they continue to innovate and drive SurePay’s international growth.”

Thorben Rothe Partner at Iris Capital: “We are proud to invest in SurePay to assist and fuel their growth. Their work has been impressive as they built a world-leading Confirmation of Payee solution preventing payments fraud that already proved its industry leading position across the UK and Netherlands. We are confident that with our help they will lead a tremendous growth in new markets like Germany and France.”

Harrie Vollaard, Managing Director at Rabo Frontier Ventures: “SurePay has grown from an in-house start up to a solution that benefits millions of consumers daily. SurePay is well on its way to further unlock its enormous potential. We are proud to welcome the two renowned investors to join the journey. With this round SurePay will continue to add financial players to its European platform and further build out their digital ecosystem”.

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EQT Private Equity to sell Zemax

eqt

EQT Private Equity to sell Zemax, a leading optical product design and simulation software provider, to Ansys

• EQT supported Zemax’s transformation into a leading optical design software provider through investments in new product development and refined go-to-market capabilities

EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Zemax (“the Company”) to Ansys (NASDAQ: ANSS).

Founded in 1990, Zemax helps the world’s leading brands and institutions design optical systems for a broad range of applications by streamlining the workflow and communication among optical, mechanical and manufacturing engineers. Zemax virtual prototyping tools include OpticStudio®, the industry-leading optical design software suite that enables customers to improve optical performance, get to market faster and reduce both production and development costs. Zemax’s software is used to develop a range of products including space telescopes, augmented reality glasses, LIDAR in autonomous vehicles, smartphone cameras, biomedical imaging devices, and many more. The Company is headquartered in Kirkland, Washington and employs more than 100 people worldwide.

With the support of EQT, Zemax expanded its management team and focused on broadening the Company’s product portfolio through substantial R&D investment focused on the fastest growing segments in the optics space. Zemax also revamped its go-to-market sales approach and successfully transitioned the business model toward recurring subscription revenue.

Arvindh Kumar, Partner and Investment Advisor to EQT Private Equity, said: “EQT’s investment in Zemax exemplifies our goal of investing in companies that provide mission-critical products underpinned by strong market growth. By focusing on the Company’s growth and investing in future-proofing initiatives, the management team, together with EQT, has positioned Zemax for success and we are confident that Ansys will be a good long-term home for the Company.”

S. Subbiah, Chief Executive Officer at Zemax, said: “Zemax has been a leader in optical design simulation with a mission to enable our customers to design sophisticated optical products and bring them to market since our founding 30 years ago. With the support of EQT, we have successfully expanded our value proposition by upskilling our salesforce, introducing new products, supporting more design workflow and simulating interactions within the whole product. We thank EQT for their guidance and partnership and look forward to joining forces with Ansys to build on our strong momentum going forward.”

The transaction is subject to customary conditions and approvals and is expected to close in the fourth quarter of 2021.

William Blair acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to EQT Private Equity and Zemax.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com

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

About

About EQT
EQT is a purpose-driven global investment organization with more than EUR 71 billion in assets under management across 27 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 Zemax
Zemax’s industry-leading optical product design and simulation software, OpticStudio®, OpticsBuilder™, STAR and OpticsViewer™, helps optical, mechanical, and manufacturing engineering teams turn their ideas into reality. Standardizing on Zemax software reduces design iterations and repeated prototypes, speeding time to market and reducing development costs. Zemax is headquartered in Kirkland, Washington and has offices in the UK, Germany, Japan, Taiwan, and China.

More info: www.zemax.com

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