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Biotheus Announces the Closing of a New Round of Financing co-led by General Atlantic and IDG Capital

Biotheus has announced the successful completion of a fourth round of financing, co-led by General Atlantic, a leading global growth equity investor, and IDG Capital, a global leading investment firm. Other new investors include Kunlun Capital, CPE, and Cowin Capital, with participation by previous investors Highlight Capital, Shiyu Capital, New Alliance Capital, Huajin Investment, and others.

Founded in 2018, Biotheus is a clinical development stage company with the mission of treating cancer and autoimmune diseases through next-generation therapeutics. This is supported by the company’s product pipeline, which consists of over 10 novel monoclonal and multispecific antibodies. Biotheus currently has two bispecific antibodies in phase I clinical development for cancer treatment, and a third IND application was submitted at the end of 2020. With this new investment, Biotheus will further increase its investment into its research activities with the aim to have five novel drugs into clinical development by the end of 2021, and drive multiple programs into late-stage clinical development,

Regarding this round of financing, Mr. Xiaolin Liu, President and CEO of Biotheus, remarked, “We are pleased that our efforts have been recognized and supported by leading investors like General Atlantic and IDG Capital. The continued support from our previous investors is also testament to our company’s progress, execution and the strength of our pipeline. This round of financing will fund the development of our existing product pipeline and the construction of our manufacturing facility. With the strong support of all our investors, we will fully drive the development of our product pipeline, strengthen our position in the global market for cancer immunotherapy, and bring much-needed innovative treatments and options to a larger population of cancer patients.”

Mr. Lefei Sun, Managing Director and Head of Healthcare for China at General Atlantic, added, “In a short period of time, Biotheus has developed a differentiated and competitive pipeline of next-generation therapies, underpinned by an efficient R&D engine and a premier founding team with a successful track record of antibody development. Taken together, we believe that Biotheus is strongly positioned as an emerging player in the global biopharmaceutical landscape. We look forward to supporting Biotheus and its leadership team to accelerate the development of their deep product pipeline and advance innovative, life-saving cancer treatments to the commercial stage.”

“Led by Mr. Xiaolin Liu, the core team of Biotheus has extensive experience in the development of novel antibody drugs,” said Dr. Tao Huang, Vice President of IDG Capital. “Biotheus has built multiple platforms critical for drug development and a product pipeline with a strong competitive advantage. The construction of their manufacturing base has also begun. We believe Biotheus has significant growth potential.”

About Biotheus

Founded in 2018, Biotheus is an up-and-coming biotech company focused on curing malignant tumors and autoimmune diseases. Biotheus is committed to research and development, and commercialization of premier innovative biologics mainly through the discovery of next-generation multispecific antibodies. Biotheus has completed four rounds of financing. In addition, Biotheus has received support from the Zhuhai government through a number of initiatives and policies that drive local innovation.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic 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 build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

About IDG Capital

Started from 1993, IDG Capital was the first firm to bring foreign venture capital into China. IDG Capital has always been pursuing long-term value investing and focused on developing extraordinary companies through our expertise in private equity and venture capital. After nearly 30 years of development, IDG capital has accumulated asset under management of about 150 billion RMB, invested more than 1,000 companies and with over 200 successful exits. IDG Capital focuses on leading companies in the fields of TMT, new consumer and service, entertainment, healthcare, advanced manufacturing and clean energy, with companies expanding from early stage to growth stage, IPO and M&A. IDG Capital investment portfolio in healthcare includes: MGI Tech, Colortech Bio, Ping An Good Doctor, Edigene, HiFiBio, Analytical Biosciences, Zhenge Biotech, Gensciences, Microtech Medical, Keya Medical, Accutar Biotech and Lyvgen.

About Kunlun Capital

Kunlun Capital was founded in 2015, focusing on investment in technologically innovative enterprises. It operates in a dual-currency model of USD and RMB. The current asset management scale exceeds RMB 10 billion. Kunlun Capital pays attention to innovative business models driven by technology, products, and data, and seeks entrepreneurial teams with globalization potential and localization capabilities by selecting leading companies in subdivisions. Kunlun Capital has successively invested in Opera, DaDa, Pony.AI, KEYA Medical, MicroPort CardioFlow, EdiGene, OBiO, PingCap and other companies.

About CPE

CPE is an alternative asset manager with extensive China experience and, at the same time, an international perspective. With a long-term vision and value investment strategy, CPE provides innovative investment solutions to leading firms from the following five key sectors – healthcare, consumer and internet, technology and industrial, software and enterprise services, and real estate. Currently with its successful long-term performance, CPE’s funds under management are supported by over 200 domestic and international institutional investors across North America, Europe, Asia and the Middle East. The core investment team has completed more than 200 investments globally and has an outstanding track record in multiple USD and RMB funds with a total AUM exceeding RMB100 billion, enabling the firm to accumulate key sector knowledge and a widespread business network. With a solid investment and research process, strong sector expertise and professional portfolio management capabilities, CPE builds long-term relationships with its portfolios in order to drive their value creation and sustainable growth.

About Cowin Capital

Cowin Capital Group was established in 2000 year as China’s one of the first professional private placement Equity Investment Company focusing in Chinese market.

Cowin Capital has 20 years of experience in capital management, whose capital management scale was among top tier of the field with more than 20 billion RMB under and has generated extraordinary returns. Cowin Capital group focuses on investing on pioneering enterprise in long-term basis, supporting companies long term development. Cowin has invested more than 500 companies over the years and more than 90 companies become public companies.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

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Triton to invest in Bergman Clinics in partnership with existing shareholders

Triton

Frankfurt (Germany), Naarden (Netherlands), 9 March 2021 – Triton Fund V advised by Triton (“Triton”) has signed an agreement to invest in Bergman Clinics (“Bergman Clinics”), one of the leading chains of independent clinics in the Netherlands, Germany and Scandinavia. This investment will be in partnership with the current shareholders consisting of the Malenstein family and NPM Capital. The agreement is subject to the completion of the consultation process with Bergman Clinics’ works council and customary regulatory approvals. Terms and conditions of the transaction are not disclosed.

“We are excited to support the management and employees of Bergman Clinics by investing in and supporting the growth and European expansion of the clinics network,” said Peder Prahl, Director of the General Partner for the Triton funds.

Bergman Clinics is a leading specialist for treatments in the field of orthopedics, ophthalmology, gynecology, aesthetic medicine, cardiology, gastroenterology, dermatology, and vascular medicine. Bergman Clinics grew its network of clinics through an active acquisition strategy, first in the Dutch home market, later on in Scandinavia and Germany. Bergman Clinics currently owns 140 focus clinics throughout the Netherlands, Sweden, Denmark, Norway, and Germany which offer high quality, plannable medical care, with clients and their conditions at the heart of their activities.

The investment by Triton will help Bergman Clinics to further expand its geographical footprint, and creates room to invest in technological innovation, digitization and training. Both clients and employees can benefit directly from this.

“Bergman Clinics is strongly positioned in the field of outpatient care which is an increasingly important part of the healthcare services sector. The company has a strong medical platform and digital backbone to further expand as a focused specialty care player in Europe,” emphasized Anja Bickelmaier, Co-Head of Healthcare at Triton.

“The clinic has a strong brand in the Netherlands and we are looking forward to support its development in core markets where Triton has been investing for more than two decades,” added Koos van de Linde, Investment Advisory Professional at Triton.

“We are pleased to welcome Triton as a new investor and strong partner who will support Bergman Clinics’ ongoing journey towards high-quality client-oriented treatment at affordable prices. We will not only benefit from Triton’s expertise in the healthcare sector and in particular in healthcare services, but also from its international network,” said Hans van der Heijden, CEO of Bergman Clinics.

Bart Malenstein, Owner and Member of the Supervisory Board of Bergman Clinics added: “Triton is the ideal partner to shape the future of Bergman Clinics. Triton has extensive experience in the healthcare sector and a broad network within its portfolio that can help us by exchanging knowledge and best practices across several areas and regions, benefiting clients who are at the heart of what we do.”

 

About Bergman Clinics

For nearly 30 years, Bergman Clinics has been one of the leading chains of independent clinics with 140 focus clinics throughout the Netherlands, Sweden, Denmark, Norway, and Germany. The focus clinics offer high quality, plannable medical care, with patients and the condition at the core. Bergman Clinics is a leading specialist for treatments in the field of orthopedics, ophthalmology, gynecology, aesthetic medicine, cardiology, gastroenterology, dermatology, and vascular medicine. Bergman Clinics treats more than 300,000 patients every year in the Netherlands, Germany, and Scandinavia. More than 3,000 employees and more than 250 specialists work at Bergman Clinics.

For more information:  https://www.bergmanclinics.nl/

 

About Triton

Since its establishment in 1997, Triton has sponsored nine funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth.

The 46 companies currently in Triton’s portfolio have combined sales of around €18.2 billion and around 100,800 employees.

For further information: www.triton-partners.com

Press Contacts

Triton
Anja Schlenstedt
Phone: +49 69 9210 2190
Bergman Clinics
Christiaan Boer
Phone: +31 (0)6 51402152
Email: c.boer@bergmanclinics.com

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EQT Private Equity to sell Dorner to Columbus McKinnon for an Enterprise Value of USD 485m

eqt
  • Dorner is a leading global provider of high precision conveyor solutions in the attractive automation industry with a focus on enhancing productivity, safety, cost and waste reduction, and speed to market
  • EQT supported Dorner’s transformation into a preeminent global provider of high precision conveyor solutions through substantial investments in new product development, refocused go-to-market strategies, and acquisition integration

EQT is pleased to announce that EQT Private Equity, through the EQT Mid Market US fund, has agreed to sell Dorner (“the Company”) to Columbus McKinnon Corporation (Nasdaq: CMCO) for an Enterprise Value of USD 485m.

Founded in 1966 and headquartered in Hartland, WI, Dorner is a leading global provider of high precision conveyor solutions for high growth and resilient end markets including e-commerce, life sciences, food & beverage, industrial automation, packaging, and CPG. Dorner supports the quickly evolving automation industry, which is backed by the accelerating adoption of automated solutions. Dorner’s robust product portfolio extends across modular standard and highly engineered solutions along with aftermarket parts and services. Dorner’s proprietary DTools software provides access to its comprehensive solution library and allows customers to design and specify their own customized conveyors. The Company serves a global blue chip customer base with manufacturing facilities in North America, Latin America, Europe, and Asia and has approximately 400 employees worldwide.

With the support of EQT, Dorner continued to grow organically to solidify its position as a leading global industrial technology business. Substantial investments were made to integrate previous acquisitions to create a truly global platform with the ability to provide customers consistent quality and a uniform portfolio of products worldwide. EQT partnered with Dorner’s management team to realign the Company’s go-to-market approach to best serve its extensive customer base. Research and development was also prioritized, resulting in industry leading new product developments in additional end markets, such as life sciences and e-commerce, with many more products in the pipeline.

Kasper Knokgaard, Partner and Investment Advisor at EQT, said: “Dorner operates at the forefront of the automation revolution and is supporting industries undergoing rapid growth and transformation, such as e-commerce and life sciences. The Company exemplifies EQT’s thematic approach to investments within the Industrial Technology sector and is a market leader in the highly attractive automation subsector. We are very thankful to the Dorner management team, led by Terry Schadeberg, for its strategic vision and strong execution, and look forward to following Dorner’s journey with Columbus McKinnon.”

Terry Schadeberg, CEO of Dorner, said: “With the support of EQT, Dorner has strengthened our internal infrastructure, expanded our solutions set and gained share in high growth end markets that will continue to benefit from Dorner’s unique capabilities in the coming years. We thank EQT for its guidance and counsel through the last four years. Columbus McKinnon is an excellent strategic fit for Dorner and we are thrilled to partner with them in this next phase of growth.”

The transaction is subject to customary conditions and approvals and is expected to close in Q2 2021.

Baird and William Blair & Company L.L.C. acted as financial advisors and Weil, Gotshal & Manges LLP acted as legal advisor to EQT Private Equity and Dorner.

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 EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 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 Dorner
Founded in 1966 in Hartland, Wisconsin, Dorner is a leader in high-precision, specialty conveyor systems that enhance productivity, quality, reliability, speed, uptime, and end user profitability.  Dorner offers a broad product offering across both modular standard and highly engineered custom conveyor solutions.  With nearly 400 employees, Dorner has deep engineering and technical expertise with facilities in North America, Europe, and Asia.

More info: www.dornerconveyors.com

This release was sent by Cision

https://news.cision.com/eqt/r/eqt-private-equity-to-sell-dorner-to-columbus-mckinnon-for-an-enterprise-value-of-usd-485m,c3298313

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KKR and Rakuten Complete Seiyu Share Purchase from Walmart

KKR
March 1, 2021

Shareholders Officially Confirm Mr. Tsuneo Okubo as Seiyu CEO

TOKYO & BENTONVILLE, Ark.–(BUSINESS WIRE)– KKR, Rakuten, Inc., (“Rakuten”) and Walmart Inc. (“Walmart”) today announced that KKR and Rakuten subsidiary, Rakuten DX Solution, have completed their previously announced share purchases in Seiyu GK (“Seiyu” or the “Company”) from Walmart.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210228005079/en/

With the completion of the transactions, KKR owns a 65% stake in Seiyu and Rakuten DX Solution owns a 20% stake in the Company. Walmart retains a 15% stake in Seiyu. KKR is making its investment from its Asia private equity fund.

The new ownership structure enables Seiyu to take advantage of KKR, Rakuten and Walmart’s combined retail expertise and innovation, in addition to accelerating Seiyu’s digital transformation to become Japan’s leading omnichannel retailer.

KKR, Rakuten and Walmart are committed to supporting Seiyu’s growth and long-term strategy in Japan and look to build on Seiyu’s success as a local-value retailer of choice. In 2020, Seiyu achieved its highest sales and profitability levels of the last decade, with net sales growing by 5.6% to JPY785 billion1. This generated an EBITDA2 margin of nearly 5%. Over the past two consecutive fiscal years, Seiyu gained market share and improved profitability. Cumulatively over this period, Seiyu comparative-store sales grew 180 basis points faster than the market3 and EBITDA increased by nearly 40%. In addition, Rakuten Seiyu Netsuper, jointly operated by Seiyu and Rakuten, recorded a nearly 40% year-on-year increase in gross merchandise sales in the fourth quarter of 2020. With the significant increase in demand for online supermarkets in recent years, a dedicated fulfillment center began operations in Yokohama, Kanagawa Prefecture in January 2021, and a new fulfillment center is scheduled to open in Ibaraki, Osaka Prefecture within the year to meet this growing demand.

Today, the shareholders additionally confirmed the appointment of Mr. Tsuneo Okubo as CEO of Seiyu to lead the Company into its next phase of development and growth, effective immediately. Mr. Okubo’s decades-long career in Japan’s retail sector includes senior roles for national supermarket chains. He brings to Seiyu a strong track record of elevating corporate strategies and performance through digital innovation, enhancing the operations of physical stores, and localizing businesses to meet the evolving needs of shoppers in communities across Japan.

Mr. Okubo said, “I am thrilled to be joining Seiyu at such an important moment in its history. Together with KKR, Rakuten and Walmart, we have a tremendous opportunity to build on Seiyu’s achievements and stature in the market to take its business to the next level of success. Looking ahead, we are excited to accelerate Seiyu’s digital transformation to better meet the evolving shopping needs of our customers while continuing to expand on strong in-store presence in communities across Japan. I want to thank my predecessor, Lionel Desclée, for his leadership, and I look forward to working with our talented team of associates to build on Seiyu’s progress to become Japan’s leading omnichannel retailer.”

About Seiyu:

Established in 1963, Seiyu is a nationwide supermarket chain in Japan with more than 300 retail units. Through its supermarket and hypermarket formats and Rakuten Seiyu Netsuper delivery service, Seiyu offers customers a broad assortment including fresh food, general merchandise, and apparel products across Japan from Hokkaido to Kyushu. Offering Everyday Low Prices to our customers, Seiyu contributes to making their everyday life more convenient as a leading, innovative, local value retailer, now powered by KKR, Rakuten and Walmart.

About KKR:

KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Rakuten:

Rakuten, Inc. (TSE: 4755) is a global leader in internet services that empower individuals, communities, businesses, and society. Founded in Tokyo in 1997 as an online marketplace, Rakuten has expanded to offer services in e-commerce, fintech, digital content and communications to approximately 1.4 billion members around the world. The Rakuten Group has over 20,000 employees, and operations in 30 countries and regions. For more information visit https://global.rakuten.com/corp/.

About Rakuten DX Solution:

Rakuten DX Solution is a new Rakuten Group subsidiary established in January 2021 to support the digital transformation of brick-and-mortar retailers across Japan and to promote the merger of offline and online retail (OMO) in order to serve customers with a seamless and personalized retail experience.

About Walmart:

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.

 

1 As of Fiscal Year 2020, ending December 31, 2020
2 EBITDA = Earnings Before Interest, Tax, Depreciation and Amortization.
3 According to data compiled by the Japan Supermarket Association, National Supermarket Association of Japan and the All Japan Supermarket Association.

Seiyu
Corporate Affairs +813-3598-7760

KKR
KKR Asia Pacific
Anita Davis
+852 3602 7335
Anita.Davis@kkr.com

Finsbury (for KKR Japan)
Deborah Hayden, +81 70 2492 0463
Hannah Perry, +81 70 3769 9633
FinsburyKKRJapan@finsbury.com

KKR Americas
Kristi Huller, Cara Major, Miles Radcliffe-Trenner
+1 212 750-8300
Media@kkr.com

Rakuten, Inc.
Corporate Communications Department
global-pr@mail.rakuten.com

Walmart
Blake Jackson
+1 479 204-1028
blake.jackson@walmart.com

Source: KKR, Rakuten, Inc.

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Latour completes acquisition of Fristads AB, Kansas A/S, Kansas GmbH and Leijona Group Oy

Latour logo
2021-03-01 11:01

On December 10th 2020, Investment AB Latour (publ), through its fully owned subsidiary Hultafors Group AB, signed an agreement to acquire Fristads AB, Kansas A/S, Kansas GmbH and Leijona Group Oy from Fristads Kansas AB. All closing conditions have now been fulfilled and the transaction has been completed as of March 1st, 2021.

Göteborg, March 1st, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Camilla Monefeldt Kirstein, EVP Business Unit Workwear, Hultafors Group AB, +46 734 333 634
Jens Eriksson, Vice President, M&A and Business Development Hultafors Group AB, +46 702 114 601

Hultafors Group is one of Europe’s largest companies to supply workwear, footwear, head protection, hand tools, tool carriers and ladders for professional users. The products are developed, manufactured and marketed as their own brands, which are available through leading distributors in about 40 markets, with emphasis on Europe and North America. Hultafors Group has more than 1,000 employees and net sales in 2020 amounted to SEK 3.6 billion.

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 67 billion. The wholly-owned industrial operations has an annual turnover of about SEK 15 billion.

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HENT is building Aker Tech House

Ratos

HENT has been awarded a contract to build Aker Tech House for the real estate company Aker Property Group at Fornebu outside Oslo. The project is worth more than NOK 1 billion and is expected to be completed in the summer of 2023.

The real estate company Aker Property Group is leading the work of developing the Fornebu area outside Oslo, where Aker Tech House will now be built. Akter Tech House is a building of approximately 30,000 sq.m. and a central part in the development of the Fornebu district. The building will primarily consist of offices. Aker Property Group is a well-known customer of HENT, together the companies have worked on projects totaling more than 200,000 sq.m. Aker Tech House is designed by the leading Swedish architectural firm Wingårdhs.

“Through long-term collaboration and involvement at an early stage, we, together with Aker Property Group, have been able to make this project possible, which is one of the most exciting in the Oslo region. This confirms HENT’s position as a preferred partner on large complex projects,” says Christian Johansson Gebauer, Chairman of the Board of HENT and Head of Business Area Construction & Services, Ratos.

 

For further information:
Christian Johansson Gebauer, Chairman of the Board of HENT and Head of Business Area Construction & Services, Ratos
Phone: +46 8 700 17 00

Helene Gustafsson, Head of IR and Press, Ratos
Phone: +46 70 868 40 50
About Ratos:
Ratos is a business group consisting of 11 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 33 billion in sales and EBITA of SEK 2 billion. 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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Ardian acquires a majority stake in GBA Group, a leading bio-analytical laboratory services provider, alongside GBA Group’s management team and Quadriga Capital

Ardian

  • 25 February 2021 Buyout Germany, Frankfurt

Frankfurt/Hamburg, 25 February 2021 – Ardian, a world leading private investment house, announced the acquisition of a majority stake in GBA Group alongside GBA’s management team and Quadriga Capital. Founded in 1989 and headquartered in Hamburg, GBA Group (GBA) is a leading independent TIC (Testing, Inspection, Certification) provider of bio-analytical laboratory services in the DACH region with a strong presence in Belgium and Poland.

GBA’s core testing service competences are focused on the most attractive and resilient fields of food & beverage, pharmaceutical and environmental analytics. Unique characteristics of the Company are its comprehensive & differentiated service and testing portfolio, strong service orientation, cutting edge innovation capabilities and its high customer loyalty. These features have assured the business a superior competitive positioning. Today, GBA’s network comprises 39 locations and 44 laboratories with approximately 1,400 employees.

Under the ownership of Quadriga Capital, GBA has transformed into an institutionalized platform led by an entrepreneurial management team, which accelerated the company’s organic growth and widened its geographic reach through several synergetic acquisitions. Ardian and Quadriga Capital will partner with GBA’s management team to further grow the business through investments in its core, as well as expansion into new markets and continuing its focus on operational excellence.
Ardian has deep expertise and an extensive network in the TIC sector as well as the sub-segments served by GBA, and plans to support the Company’s management in the implementation of an international buy & build strategy, similar to Ardian’s approach with other successful investments.

Steffen Walter, CEO of GBA, commented: “The management team of GBA would like to thank Quadriga Capital for their strong support over the last years enabling GBA to become an institutionalized platform, substantially widen its service portfolio throughout our three core segments and to extend our geographical reach. Ardian’s interest in GBA is a testament to our resilience, consistent growth, future growth opportunities and independent market positioning. By partnering with Ardian, GBA will gain access to a large international TIC network and will accelerate its growth through organic growth investments and further M&A.”

The Ardian Buyout team in Germany added: “Given our dedicated sector focus, we followed GBA closely for many years. This acquisition is a good example of how Ardian invests thematically alongside trends and in our four key sectors focusing on strong, non-cyclical businesses with a variety of future growth avenues. We have been deeply impressed by the strong mix of entrepreneurial drive, business acumen and strategic vision of GBA’s management team. We are delighted about the prospect of working together with such an excellent team and all of GBA’s employees in accelerating the execution of the Company’s strategy.”

Philipp Jacobi, Managing Partner of Quadriga Capital’s advisor stated: “We would like to thank Steffen Walter and his team for the great and hard work over the last years. The strong team effort has been fundamental to significantly increase the scale, improve the competitive positioning and to truly transform GBA into a fast growing institutionalized platform. Together with Ardian as a new partner and the management team we are excited to embark on a new program of accelerated growth.”
The transaction is subject to customary closing conditions, including regulatory consents.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn 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 700 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 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian

ABOUT QUADRIGA CAPITAL

Quadriga Capital is recognized as the pioneering DACH mid-market private equity company with a broad international network. The company has raised and managed almost EUR2 billion in equity commitments from renowned international investors, which it has invested in some 43 companies and over 100 add-on acquisitions. The firm focuses on acquisitive and growth driven mid-market investments in healthcare, tech-enabled services and smart industries, with the aim of both maximizing value and generating meaningful societal impact through its institutionalized system of value creation. The vast majority of its investments are proprietary acquisitions, mostly of family-owned companies. Together with its emphasis on operating experience and industrial expertise, Quadriga Capital’s strong ethos of cultural excellence and collaboration leads it to be a supportive partner of market-leading entrepreneurial management teams to create and grow tomorrow’s international champions today.

Visit the Website

ABOUT GBA GROUP

The GBA Group, founded in 1989, brings together a network of dynamic companies providing laboratory analysis and related services to customers in three major sectors: food, environment, and pharmaceuticals. The focus is on providing solutions that meet the needs of the customers in combination with scientific and technical expertise. The expert employees maintain a strong emphasis on providing high-quality service by communicating with customers intensively.

Visit the Website

Press contacts

Ardian – Headland

Gregor Riemann

griemann@headlandconsultancy.com +44 (0)79 2080 2627

GBA Group

Sabine Nest

presse@gba-group.de

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CVC Credit supports further growth at Calibre Scientific with an incremental $57 million multicurrency credit facility

CVC Capital Partners

Funding by CVC Credit has supported five acquisitions since June 2020

CVC Credit is pleased to announce that it has further supported life sciences and diagnostics business, Calibre Scientific, by leading an incremental $57 million multicurrency first lien credit facility to help fuel its ongoing global acquisition strategy. Calibre Scientific is owned by investment firm StoneCalibre.

CVC Credit originally provided a $92 million multicurrency first lien credit facility for Calibre Scientific in June 2020. Since this time the company has significantly grown its top line and expanded its geographic footprint through five recently completed add-on acquisitions.

Headquartered in Los Angeles, California and founded in 2013, Calibre Scientific is a diversified global developer, manufacturer and distributor of consumable products in the life science tools and diagnostics markets. Since inception, the business has continually expanded through a combination of organic growth and acquisitions, and today has a broad portfolio of more than 3,000 products, which it sells into over 100 countries worldwide. Calibre Scientific’s 6,000+ customers include blue-chip biopharmaceutical companies, leading academic research institutions and diagnostics laboratories.

Dr. Benjamin Travis, CEO of Calibre Scientific, commented: “We are happy to have secured further financing to support our ongoing acquisition growth strategy. We have significantly expanded our geographic footprint over the past six months and intend to continue this rapid rate of growth by completing further acquisitions from our full pipeline of opportunities.”

Brian Wall, Founder and CEO of StoneCalibre and Calibre Scientific Chairman, added: “CVC Credit have been valuable and supportive since they came onboard in mid-2020. They have demonstrated responsiveness and efficiency in our partnership and have clearly helped fuel our international growth strategy.”

Andrew Eversfield, Managing Director of CVC Credit Partners’ U.S. Private Debt business, said: “Run by a strong management team and augmented with a supportive and engaged sponsor, Calibre Scientific is performing well and successfully executing on its ambitious growth strategy. We are very pleased to have strengthened our commitment to a company delivering high societal impact, particularly at a time when their mission is more important than ever.”

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EQT Private Equity to sell Innovyze

eqt
  • EQT Private Equity to sell Innovyze, a leading provider of water infrastructure software, to Autodesk (NASDAQ: ADSK) for an Enterprise Value of USD 1,000m
  • EQT supported Innovyze’s transformation into a leading global smart water infrastructure software provider through investments in strategic acquisitions, trailblazing 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 Innovyze (“the Company”) to Autodesk (NASDAQ: ADSK) for an Enterprise Value of USD 1,000m.

Innovyze was established in 1996 to provide wet infrastructure software solutions. In 2017, Innovyze merged with XP Solutions to become the leading global provider of smart water infrastructure software solutions designed to meet the technological needs of water / wastewater utilities, government agencies and engineering organizations worldwide. As the largest pure-play water-focused software provider, Innovyze offers a full suite of water-focused products that span the infrastructure lifecycle. Innovyze is headquartered in Portland, Oregon and has offices in California, Colorado, Canada, the UK and Australia.

With the support of EQT, Innovyze transformed into a standalone global leader in the smart water infrastructure software space. Innovyze and XP Solutions were separately carved out from international public engineering companies by EQT and merged to form Innovyze. Since then, significant investments were made to build out the Company’s executive team and integrate the businesses. Together with management, EQT supported Innovyze in realigning the sales organization to serve the complex technical sales process and pivot to an enterprise selling approach. Substantial investments were also made in product development to strengthen the Company’s asset management solution and to extend the product portfolio into cutting-edge real-time operational analytics and artificial intelligence offerings.

Sydney Pardey, Director and Investment Advisor to EQT Private Equity, said: “Water is our most valuable resource and Innovyze’s product portfolio enables sustainable management of that asset, benefitting our local communities and global ecosystem. It has been exciting to work with the visionary management team, led by Colby Manwaring, to transform Innovyze into a global technology leader at the forefront of water software solutions.”

Arvindh Kumar, Partner and Investment Advisor to EQT Private Equity, said: “Innovyze embodies a successful EQT investment: transforming a market leader in a thematic sub-sector, with a positive sustainability footprint, into a future-proofed platform well-positioned for continued success. We thank Colby, the management team and the advisors in the EQT Network for their strategic vision and incredible execution.”

Colby Manwaring, Chief Executive Officer at Innovyze, said: “EQT has been a great partner and played a critical role in our journey by investing with a focus on the long-term potential for the business. We look forward to working with Autodesk to continue our successful growth and further our mission to empower water professionals around the world to design, manage, operate and maintain water infrastructure.”

The transaction is subject to customary conditions and approvals and is expected to close in March or April 2021.

UBS Investment Bank acted as financial advisor and Sidley Austin LLP acted as legal advisor to EQT Private Equity and Innovyze.

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 EQT
EQT is a purpose-driven global investment organization with more than EUR 84 billion in raised capital and over EUR 52 billion in assets under management across 17 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and North America with total sales of more than EUR 27 billion and approximately 159,000 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 Innovyze
Innovyze is a global leader in building innovative, industry-leading software for the water industry for over 35 years; serving thousands of clients including the largest utilities, ENR design firms, consultancies and refining plants around the world.

More info: www.Innovyze.com

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Evisort Raises $35M Series B Led by General Atlantic, Quadruples Revenue As Enterprises Race To Tame Contracts

Pre-trained AI platform uncovers millions in potential savings, unlocks missed revenue, and exposes risks hidden in contracts within days of implementation

February 23, 2021

Evisort, the intelligent contract management platform, today announced $35M in Series B funding following a year of 4x revenue growth, bringing its total funding to $55.5M. Global growth equity investor General Atlantic led the round, with participation from existing investors Amity Ventures, Microsoft’s venture fund M12, and Vertex Ventures. General Atlantic’s Operating Partner and former GE CIO Gary Reiner will join Evisort as a board member. The company will use the funds to grow its customer experience team, expand its platform to include more workflow-specific offerings, and continue to push the boundaries of its pre-trained AI.

Enterprises have been racing to digitize contract management due to a convergence of three factors:

  • Remote work has made manual contracting processes all but impossible
  • New regulations have dramatically increased the risk of non-compliant contracts
  • Pandemic-hit businesses are eager to find hidden cost savings and revenue in their contracts

Evisort pioneered a contract management solution to address all three factors. Unlike most contract management solutions which merely streamline processes, Evisort’s cloud-native, end-to-end platform has helped enterprises do business faster and uncover millions of dollars in potential cost savings and new revenue hidden in their contracts. For example, one customer was able to recognize hundreds of thousands of dollars in unfulfilled rebates because Evisort identified discount clauses in thousands of vendor contracts and issued a notification through the finance system before the vendor invoices were paid.

This intelligent approach to contract lifecycle management (CLM) has secured Evisort 4x revenue growth over the past year and helped win or expand seven Fortune 500 or global clients in banking, healthcare and enterprise tech, including Microsoft, NetApp, Molina Healthcare, and Fujitsu.

“In this ever-shifting regulatory environment, it’s hard to know what information in contracts will be important tomorrow. Evisort makes it simple for our teams to train custom algorithms so we can react quickly as our compliance needs change. We’re able to track new information across hundreds of thousands of contracts without any manual effort,” said Tom Orrison, Director of Legal Ops at Microsoft.

“Contract assets are core to B2B relationships, and yet contract data is an under-utilized resource. Evisort exceeds enterprise expectations and needs, providing a solution that works out of the box — with all the legacy systems and across use cases and industries — to deliver meaningful value. The resonance and traction of the business is underscored by Evisort’s recent success in securing major Fortune 500 customers, and by the positive customer feedback we uncovered during our diligence process,” said Gary Reiner, Operating Partner at General Atlantic and board member at Citigroup and HPE.

Evisort is one of the only AI-first, end-to-end CLM products for pre- and post-signing that can be implemented in days. Its authentic AI was developed in-house and pre-trained on millions of documents. Evisort Contract Management, its post-signature solution, can read a 30-page document in 15 seconds, extracting insights and making them actionable through integrations with CRM, ERP, HR, and Finance systems. With the launch of Evisort Contract Workflow in July 2020, the platform can now automate the entire lifecycle of a contract: from contract creation to negotiation to signature. Evisort works out-of-the-box on over 230 types of contracts, meaning it accurately analyzes the document without warning or preparation.

“We have closely tracked the legal technology space for years, and Evisort stands out as an emerging global leader that is primed to disrupt the status quo and capture growth in a market that is large and currently, inefficiently served,” said Alex Crisses, Managing Director and Global Head of New Investment Sourcing and Co-Head of Emerging Growth at General Atlantic. “Jerry and the Evisort team have built differentiated technology with real AI, and we believe that the company has the potential to embed itself as the system of record for contracts across the enterprise. We look forward to partnering with Evisort to grow the business from its earlier stages into a long-term category leader.”

Evisort will use the Series B funds to accelerate its AI development and expand its platform to include more workflow offerings tailored to specific industries, such as financial services, healthcare, and tech. The company will also focus on delivering a premium user experience, quadrupling its customer success team to help clients create their own digital contracting Centers of Excellence.

As a no-code platform which can be up-and-running in days, Evisort requires little implementation expertise. Once customers recognize the value it brings, they quickly look to roll it out enterprise-wide as part of a full digital transformation initiative, led by a cross-functional team of legal, IT, and procurement experts. Evisort has already guided several Fortune 500 companies through this process, providing best practices and blueprints for success.

“We know Evisort helps our customers close deals faster, stay on top of important dates and mitigate risks. Those are huge wins already, but with this funding we can push the envelope of our end-to-end platform even further,” said Evisort Founder and CEO Jerry Ting. “Whenever any part of the business touches a contract, whether that’s an accounting professional finding savings or a sales person negotiating a better deal, Evisort will be there delivering insights they can act on. We’re building the intelligent contract management platform enterprises actually need with innovative AI capabilities they didn’t know were possible.”

About Evisort

Founded in 2016 by Harvard Law and MIT researchers, Evisort leverages artificial intelligence (AI) to help businesses categorize, search, and act on business-driving documents of any type. Evisort’s proprietary AI understands meaning and context in legal language, eliminating the need for manual data entry and parsing of contracts or business documents. The company is backed by leading strategic and institutional investors including General Atlantic, M12, Microsoft’s venture fund, Vertex Ventures, and Amity Ventures. Headquartered in Silicon Valley, more information on Evisort can be found at Evisort.com. Follow @Evisort on Twitter, Facebook, Medium and LinkedIn.

About General Atlantic

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic 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 build market-leading businesses worldwide. General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, and Singapore. For more information on General Atlantic, please visit the website: www.generalatlantic.com.

Media Contacts

Mary Armstrong & Emily Japlon
General Atlantic media@generalatlantic.com

Theresa Carper
Evisort 415-848-9175 evisort@firebrand.marketing

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