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EQT continues to accelerate portfolio companies’ ESG performance

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  • EQT launches its second ESG-linked Subscription Credit Facility (“SCF”), now within the Infrastructure business line, partnering with a strong syndicate of global financial institutions
  • The SCF is a further example of EQT’s commitment to future-proofing companies and way of aligning the interest of its investors with the broader community by incentivizing portfolio companies’ Environmental, Social and Governance (“ESG”) performance
  • The SCF is currently at EUR 2.7 billion and has an upper limit of around EUR 5 billion

EQT is continuously exploring systematic ways of making a positive impact by future-proofing companies and integrating ESG throughout all aspects of its operations. Today, EQT is proud to announce the launch of a new ESG-linked Subscription Credit Facility (the “SCF” or “bridge facility”) to the Infrastructure business line.

The bridge facility, which is currently at EUR 2.7 billion with an upper limit of around EUR 5 billion, is backed by a syndicate of global financial institutions, including BNP Paribas and SEB acting as Sustainability Coordinators and BNP Paribas as Agent and Sustainability Agent. This new bridge facility follows EQT’s launch of an ESG-linked SCF in its Private Equity business line in June 2020, which had the same upper size limit and represented the largest ever ESG-linked bridge facility in the global fund financing markets.

The SCF will be coupled with an innovative pricing model designed to inspire and incentivize portfolio companies to improve their performance in the areas of i) gender equality on the board of directors and ii) renewable energy transition, supported by iii) a fundamental sustainability governance platform.

The pricing mechanisms are directly linked to EQT’s societal ambitions around diversity and climate as well as EQT’s proven governance model and strong commitment to transparency and accountability. The aggregated results from the portfolio companies’ ESG efforts will be compared with pre-set KPI targets and eventually impact the ESG-bridge facility’s interest rate. In other words, the more ESG progress the portfolio companies demonstrate, the better the financing terms the fund will receive. At the same time, as targets are fulfilled, the societal impact will be substantial, effectively improving female board representation to 40% and the use of renewable electricity to 85% across the portfolio companies.

Lennart Blecher, Deputy Managing Partner and Head of EQT Real Assets commented: “As a responsible owner, we are continuously exploring new opportunities which can accelerate progress within the environmental, social and governance areas. A bridge facility is an excellent way of rewarding and encouraging the portfolio companies’ advancement in ESG-related areas, and by accelerating their progress we make a very tangible impact. At the same time, we are aligning interests of value-driven investors and financial institutions, joining forces in partnership to drive real change and scale our positive impact”.

Therése Lennehag, Head of Sustainability at EQT, added: “This new bridge facility demonstrates how private equity can play an instrumental role as a catalyst of change, moving the entire financial community to stimulate more sustainable businesses. As a leading market player, EQT always aims to lead by example, future-proofing companies and making a positive impact”.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors, and strategies. EQT has raised more than EUR 75 billion since inception and currently has more than EUR 46 billion in assets under management across 16 active funds within two business segments – Private Capital and Real Assets.

With its roots in the Wallenberg family’s entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.

More info: www.eqtgroup.com
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Closed Loop Medicine recruits first patient into novel PhIV precision medicine interventional clinical trial for patients with high blood pressure

IQ Capital

London, UK, 18 November 2020: Closed Loop Medicine (‘CLM’) a clinical stage therapeutics company developing drug + digital combination products, announces that the first patient has been recruited into its pivotal clinical trial investigating CLM’s integrated precision care solution for patients with hypertension.

The clinical trial, called Personal COVID BP, will see up to 1,000 patients recruited for a study investigating whether a combination product that links a drug to a smart phone app can enable patients to personalise and optimise their therapy regimen to treat hypertension. Importantly, the technology in the study allows patients shielding from COVID-19 to control their blood pressure remotely in a home setting environment.

The interventional arm of the study, in which up to 200 patients are involved, will see patients receive drug therapy while using an app to monitor blood pressure, as well as any potential side effects. This will help to determine whether the approach can be used to identify the optimum balance of tolerable side effects and controlled blood pressure. The ultimate aim of the study is the development of a novel combination product that will have the potential to save thousands of lives through fewer heart attacks and strokes.

As part of the study, CLM’s technology will also be used to monitor COVID-19 symptoms to allow for a better understanding of the links between COVID-19 and high blood pressure. A Nature publication1 published in May 2020 analysed 17 million medical records to show a complex link between COVID-19 mortality and patients with high blood pressure.

The trial is part-funded by Innovate UK and is being run by the William Harvey Clinical Research Centre (WHCRC), Queen Mary University of London, part of the National Institute for Health Research (NIHR) Biomedical Research Centre at Barts (BRC).

Dr Hakim Yadi OBE, CEO & Co-Founder of CLM commented: “This represents a key milestone for the company, the first patient enrolled and dosed in our interventional clinical study. Our aim is to improve patient outcomes while supporting health systems to better manage patients with long-term conditions through remote monitoring and timely intervention. The trial design allows greater patient participation from the comfort and safety of their own home whilst also investigating the potential link between COVID-19 and hypertension. We look forward to progressing this important trial alongside our partners at Queen Mary University, and to reporting further progress over the coming months.”

Dr David Collier, the lead trial investigator from Queen Mary University of London commented: “This is an important study in that it allows patients and physicians to collect real-world data to help better inform treatment decisions and monitor patient outcomes. Some of the drugs we use are great at preventing heart attacks and strokes, but frequently cause unwanted side-effects, something this trial sets out to address. We hope that through this study we can not only demonstrate that one size does not fit all, but that by using technology in this combined way, we can personalise treatment for the individual at a population scale.”

-ENDS-

For more information please contact:

Closed Loop Medicine

Dr Hakim Yadi OBE, Chief Executive Officer info@closedloopmedicine.com

About Closed Loop Medicine

Closed Loop Medicine is a clinical stage therapeutics company developing drug + digital combination products, transforming drug effectiveness through optimisation by providing every drug its real time digital companion. The company was founded by an experienced team of healthcare professionals, entrepreneurs and life scientists with experience of drug and software development as well as extensive health system innovation experience. Closed Loop Medicine is developing a new product class, a combinational therapy that binds drug therapy with digital therapy to optimise care regimens for patients. Data readout for its Personal COVID BP clinical trial is expected to take place in 2021. Whilst the company is currently focused on individual solutions in hypertension and sleep it aims to further develop its pipeline through the creation of additional single-prescription combination products that cater to the needs of patients suffering from chronic disease ensuring that the patient and clinician are put at the centre of its products and solutions.

For more information, please visit www.closedloopmedicine.com

1 Williamson, E.J., Walker, A.J., Bhaskaran, K. et al. Factors associated with COVID-19-related death using OpenSAFELY. Nature 584, 430–436 (2020). https://doi.org/10.1038/s41586-020-2521-4

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Gimv invests in SynOx Therapeutics which raises EUR 37 million to develop emactuzumab for treatment of tenosynovial giant cell tumors

GIMV

Gimv is investing in newly formed SynOx Therapeutics through a Series A round of EUR 37 million along with HealthCap, Medicxi and Forbion. SynOx will continue the development of emactuzumab after securing world-wide rights for the development, manufacturing and commercialization of emactuzumab under a license agreement with Roche.

Emactuzumab is a potential best-in-class clinical-stage CSF-1R targeted antibody designed to target and deplete macrophages in the tumor tissue. It has shown a favorable safety profile and encouraging efficacy in patients with diffuse tenosynovial giant cell tumors (dTGCT), a rare oncology disease. The disease is characterized by pain, swelling and range of movement limitations resulting in a significant impact on quality of life. It typically affects patients aged 20-50 years with an estimate of 70,000 patients in the US and EU5.

The proceeds of the financing round will be used to continue development of emactuzumab to establish a treatment option for dTGCT patients.

Bram Vanparys, Partner at Gimv, commented: “We are very pleased with this new investment, which perfectly fits our Gimv life sciences strategy. Our team focuses on solving unmet medical needs by investing in solid preclinical or clinical stage assets and platforms with first-in-class or best-in-class potential.”

Michaël Vlemmix, Principal at Gimv, adds: “We are looking forward to bringing a therapy to market for patients who today have limited treatment options available. Emactuzumab has already proved its worth in diffuse TGCT patients and it is now time to continue and finalize its development. I am proud to work together with our co-investors and management to turn this endeavour into a success story.”

For further information, we refer to the company’s press release in attachment.

Read the full press release:

English – French – Dutch
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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Gryphon Makes Strategic Investment in Vessco Holdings

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Gryphon Investors

New Investment Focuses on Water and Wastewater Treatment Systems

San Francisco, CA – November 16, 2020 — 

Gryphon Investors (“Gryphon”), a San Francisco-based middle-market private equity firm, announced today that it has acquired Vessco Holdings (“Vessco” or “the Company”), in partnership with Vessco’s management team, from O2 Investment Partners. Terms of the transaction were not disclosed.

Based in Minneapolis, Minnesota, Vessco has been serving Upper Midwest and Northeast industrial and municipal customers for over 35 years. Vessco is a value-added distributor of process, flow control, pumps, and automation equipment and services to water and wastewater treatment utilities and industrial users. The Company offers a comprehensive product portfolio and provides value–added design, engineering support, and aftermarket parts and services.

Vessco Holdings’ management team, led by CEO Brian DeWolf, will continue to manage the business, and senior management will remain significant owners of the Company. Longtime industry executive Jim McGivern will become Executive Chairman of the Company. A seasoned executive with over 30 years of experience in the water, wastewater, and utility sectors, Mr. McGivern was previously the COO of American Water, CEO of Elster Group and CEO of Sigma Corporation.

“Vessco operates at the nexus of Gryphon’s experience with infrastructure and utility products and value-added distribution businesses. We are very pleased to partner with Brian, a highly talented and visionary leader, and the other members of the management team. Vessco is poised for rapid growth as it capitalizes on its track record, reputation, and know-how to serve its customers,” said Leigh Abramson, Deal Partner and Head of the Industrial Growth Group at Gryphon.

Mr. DeWolf said, “We are delighted to be working with Gryphon through the next stage of our growth. Not only is Gryphon the right cultural fit, but the firm has a history of showing strong support for managers by providing operational and financial resources for both organic growth and acquisitions. We have been impressed with Gryphon’s solid knowledge of our industry and their insightful assessment of how to create efficient, sustainable, and competitive water treatment systems.”

Wes Lucas, the Operating Partner to Gryphon’s Industrial Growth Group, added, “Water and wastewater treatment is a critical part of modern human life, and the industry will continue to experience attractive growth tailwinds from population growth, increasing regulation, and the need to replace aging infrastructure. We look forward to supporting Vessco management during its next phase of growth by leveraging Gryphon’s in-house Operations Resources Group and Human Capital Group to facilitate further investment in the business and its employees.”

Felix Park, Principal at Gryphon, added, “Vessco has built a culture that combines entrepreneurial spirit and local market expertise with a commitment towards OEM suppliers and customers. Given its leading position within a large and growing addressable market, the Company is well-situated for long-term expansion into additional products and services as well as new geographies. In addition to organic growth, we will be focused on acquisitions as an important component of the go-forward growth strategy.”

Gryphon was advised by legal counsel Kirkland & Ellis LLP, and financial advisor Raymond James. Honigman LLP was legal advisor to O2 Investment Partners, and William Blair & Co. was O2’s financial advisor. Vessco management was represented by attorney Peter W. Klein, P.A., of Boca Raton, FL.

About Vessco Holdings
Vessco (www.vesscoholdings.com) Vessco is one of the largest equipment distributors and systems integrators of water and wastewater treatment technology in the United States. Vessco offers its customers an exceptional breadth of products and services with its line card of valued vendors. Vessco provides its products and services in over 18 states throughout the Central U.S., Midwest, Northeast, and Mid-Atlantic regions.

About Gryphon Investors
Based in San Francisco, Gryphon Investors is a leading private equity firm focused on growing and enhancing mid-market companies in partnership with management. The firm has managed over $5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $100 million to $300 million in portfolio companies with sales ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise. For more information, visit www.gryphoninvestors.com.

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Onapsis Raises $55M Growth Round, Led by CDPQ and NightDragon, Fueling Expansion to Protect Mission-Critical SaaS Applications

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Cdpq

Private Equity Boston,

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Oversubscribed Funding Round to Accelerate Company’s Growth Strategy to Expand Security and Compliance Support for Salesforce, Workday, Oracle, SAP and Other Leading Cloud Applications
Onapsis, the leader in mission-critical application cybersecurity and compliance, today announced it raised $55 million in Series D financing led by Caisse de dépôt et placement du Québec (CDPQ) and NightDragon with strong participation from existing investors .406 Ventures, LLR Partners and Arsenal Venture Partners. The investment will be used to significantly scale the company through rapid expansion into the mission-critical SaaS applications market, starting with protection and compliance for Salesforce and SuccessFactors applications.This new support for mission-critical SaaS applications enables Onapsis to execute its vision of protecting the intelligent enterprise and accelerating digital transformation initiatives by delivering cybersecurity and compliance solutions for all mission-critical applications running on-premises and hosted on cloud Infrastructure-as-a-Service (IaaS), Platform as a Service (PaaS) and Software as a Service (SaaS), as well as the API-based integrations between them.

“As a long-term investor, we’re pleased with the quality of the company’s partnerships with leading business software providers and its recognition as an organization at the forefront of cyber threat detection and remediation.” said Alexandre Synnett, Executive Vice President and Chief Technology Officer at CDPQ. “We look forward to supporting the new growth initiatives put forward by the Onapsis management team and contributing, through this investment, to improving global cybersecurity.”

Company Momentum and Performance

Onapsis is trusted by more than 300 of largest global enterprises, including more than 20% of the Fortune 100, to protect their cloud, hybrid and on-premises mission-critical applications. This latest round of funding builds solid momentum after a strong performance year-to-date in 2020 for Onapsis. Highlights include:

  • Over 145% growth in net new annual recurring revenue (ARR); recognized three consecutive years by the Deloitte Technology Fast 500 publication as one of North America’s fastest-growing technology companies
  • Outstanding customer satisfaction with 98% retention rate and one of the industry’s highest NPS scores
  • Recently announced strategic partnership with SAP, by which The Onapsis Platform is the SAP-endorsed application for cybersecurity and compliance
  • World-class cyber threat research lab – over 800 zero-day vulnerabilities discovered; multiple critical global CERT alerts based on Onapsis’ novel research
  • Established partnerships with leading system integrators and consulting firms including Accenture, Deloitte, IBM, PwC, Verizon, Optiv and others
  • Global operations in the United States, Argentina and Germany with more than 380 employees, recognized as a Top 3 Great Place to Work
  • New support for mission-critical SaaS applications to protect the intelligent enterprise

“Legacy security solutions don’t meet the requirements of today’s business applications – especially in the SaaS world,” said Dave DeWalt, who founded NightDragon and was named Vice Chairman of the Onapsis board of directors earlier this year. “These applications, which are at the core of every enterprise’s digital transformation and have accelerated due to the global pandemic, are facing the perfect storm, yet the tools used to protect them aren’t purpose-built for the job. The expansion into SaaS applications opens a huge market opportunity for Onapsis and fills a much-needed gap for enterprises in the cybersecurity and compliance space.”

New Support for Mission-Critical SaaS Applications

As part of today’s announcement, Onapsis is launching an early access program for The Onapsis Platform for Salesforce and The Onapsis Platform for SuccessFactors. With support for these mission-critical SaaS applications, The Onapsis Platform enables customers to quickly discover, assess, prioritize and eliminate application misconfigurations, vulnerabilities and malicious activity that can impact an organization’s interconnected mission-critical application ecosystem and sensitive business data. Next up for Onapsis will be introducing early access program support for Workday, Oracle ERP Cloud and Oracle HCM Cloud, and other SaaS applications to be released in the coming months.

“As critical business processes and functions, such as HCM, CRM and ERP, extend to the cloud and SaaS environments, enterprises need a way to reduce the risk of their hybrid business platforms, enforce security and compliance baselines from the core to the cloud, and monitor application security, user activity, and threats from development to production,” said Mariano Nunez, CEO and Founder of Onapsis. “This funding only builds on our continued strong momentum as we stay hyper-focused on being the standard for mission-critical application security and compliance across cloud, hybrid and on-premises environments. We are honored to have the trust of new outstanding investors such as CDPQ and NightDragon, and the continued support of our existing partners. We’ll now further scale Onapsis to new heights and help even more organizations around the globe ensure all their critical information and processes are protected.”

To learn more, visit the Onapsis website: https://onapsis.com/.

Onapsis and Onapsis Research Labs are registered trademarks of Onapsis Inc. All other company or product names may be the registered trademarks of their respective owners.

ABOUT ONAPSIS

Onapsis protects the mission-critical applications that run the global economy, from the core to the cloud. The Onapsis Platform uniquely delivers actionable insight, secure change, automated governance and continuous monitoring for critical systems—ERP, CRM, PLM, HCM, SCM and BI applications—from leading vendors such as SAP, Oracle, Salesforce and others.

Onapsis is headquartered in Boston, MA, with offices in Heidelberg, Germany and Buenos Aires, Argentina. We proudly serve more than 300 of the world’s leading brands, including 20% of the Fortune 100, 6 of the top 10 automotive companies, 5 of the top 10 chemical companies, 4 of the top 10 technology companies and 3 of the top 10 oil and gas companies.

The Onapsis Platform is powered by the Onapsis Research Labs, the team responsible for the discovery and mitigation of more than 800 zero-day vulnerabilities in mission-critical applications. The reach of our threat research and platform is broadened through leading consulting and audit firms such as Accenture, Deloitte, IBM, PwC and Verizon—making Onapsis solutions the standard in helping organizations protect their cloud, hybrid and on-premises mission-critical information and processes.

For more information, connect with us on Twitter ru LinkedIn, or visit us at https://www.onapsis.com.

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT NIGHTDRAGON

NightDragon is an investment firm focused on investing in growth and late-stage companies within the cybersecurity industry. Its flexible model allows it to lead or co-invest alongside leading venture capital and private equity firms in the pursuit of driving growth and increasing shareholder value. NightDragon is unique in providing deep operational expertise in cybersecurity gained by its founders Dave DeWalt and Ken Gonzalez from years serving as senior executives leading technology companies such as Documentum, EMC, Siebel Systems (Oracle), McAfee, Mandiant, Avast, and FireEye.

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CDPQ increases its interest in CAE

Cdpq

Private Equity, Québec Montréal,

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Caisse de dépôt et placement du Québec (“CDPQ”) has announced a $150 million equity investment in CAE (NYSE: CAE; TSX: CAE), a world leader in training and operational support in the civil aviation, defence and security and health care markets. With this transaction, CDPQ is supporting the Québec company’s expansion plans, including the acquisition of Flight Simulation Company B.V., which will allow CAE to grow its capacity to offer training services to customers in Europe, primarily airlines and cargo carriers. This transaction was done in conjuction with the company’s previously announced drive to raise $300 million in capital.Despite the unprecedented situation created by COVID‑19, the Québec company has proven the resilience of its business model over the last year. The investment announced today will allow CAE to finance potential future growth and acquisition opportunities.

“Our investment is rooted in a desire to support a resilient Québec business like CAE in its recovery and growth efforts. In a global context that is challenging for the aeronautics sector, CAE continues to demonstrate the capacity to innovate in various growth sectors of the economy and strengthen its competitive position with a view to fully resume activities,” declared Kim Thomassin, CDPQ’s Executive Vice-President and Head of Investments in Quebec and Stewardship Investing.

“The successful completion of the public offering and private placement will provide CAE with additional financial flexibility to pursue our strategic growth opportunities and capitalize on potential future acquisition opportunities, while maintaining a solid financial position,” said Marc Parent, CAE’s President and Chief Executive Officer. “We are pleased with the continued partnership with the Caisse de dépôt et placement du Québec and we are proud with the trust they have placed in CAE, a Quebec-based high-technology and training leader.”

ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and para-public pension and insurance plans. As at June 30, 2020, it held CA$333.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit www.cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.

ABOUT CAE

CAE is a high technology company, at the leading edge of digital immersion, providing solutions to make the world a safer place. Backed by a record of more than 70 years of industry firsts, we continue to reimagine the customer experience and revolutionize training and operational support solutions in civil aviation, defence and security, and healthcare. We are the partner of choice to customers worldwide who operate in complex, high-stakes and largely regulated environments, where successful outcomes are critical. Testament to our customers’ ongoing needs for our solutions, over 60 percent of CAE’s revenue is recurring in nature. We have the broadest global presence in our industry, with approximately 10,000 employees, 160 sites and training locations in over 35 countries. www.cae.com

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Frankenius Equity increases its ownership in Gina Tricot

Nordic Capital

November 19 2020
Frankenius Equity increases its ownership in Gina Tricot Image

 

Since 2014, Gina Tricot has been successfully developed by the founding family Appelqvist, together with Sätila, Frankenius Equity and Nordic Capital. Today, Gina Tricot is a leading, sustainable fashion company in the Nordic region with a rapidly growing digital business. Frankenius Equity has now acquired Nordic Capital’s ownership in Gina Tricot and will, alongside the other owners, continue to support the company’s development.

“It is very inspiring and exciting to have the opportunity to increase our ownership. Together with Appelqvist Holding and Sätila, I look forward to continuing to develop Gina Tricot based on the company’s market position today. Together with Nordic Capital, we have made significant investments in the company, with a focus on developing a fast-growing e-commerce business, a more sustainable production combined with the launch of several new concepts in the recent years. Gina Tricot stands for both simplicity and passion, both through its design and culture. This is something we will stick to on our continued joint journey “, says Paul Frankenius, Chairman of the Board and co-owner of Gina Tricot.

Gina Tricot was founded in 1997 in Borås by Annette and Jörgen Appelqvist with the vision of offering good fashion for little money. In 2014, Nordic Capital and Frankenius Equity joined as co-owners, with the joint ambition to create a competitive platform and to develop Gina Tricot’s e-commerce offering, which has become even more important during the current economic situation. Through a new IT system and a leading omnichannel structure, a very fast-growing digital commerce has been created, both in its own channels and with partners. Today, Gina Tricot has an annual turnover of approximately SEK 2 billion with 1,600 employees. The fashion industry is changing rapidly and the business has been strengthened at all levels to create the best customer experience.

“We are very proud of the fantastic journey we have been on together with all of our employees. Together with Nordic Capital, we have switched to a higher degree of digitalisation over the last few years, and we look forward to becoming an even more modern fashion company. The current position and the opportunities are great”, says Jörgen Appelqvist.

“Nordic Capital invested in Gina Tricot with a clear goal of developing and modernizing one of the Nordic region’s most well-known brands. Since then, Gina Tricot has strengthened its digital and commercial capacity to achieve stable profitability and growth, with ongoing support from Nordic Capital’s expertise in, among other things, digitization and sustainability. Together with Gina Tricot’s passionate employees, we have increased the company’s competitiveness” says David Samuelson, Principal, Nordic Capital Advisors.

The parties have agreed not to communicate financial details.

 

Media contacts:

Gina Tricot & Frankenius Equity

Sanna Franklin
Press Contact
Tel +46 70 863 85 55
email: sanna@cultcommunications.com

Nordic Capital

Katarina Janerud, Communications Manager
Nordic Capital Advisor
Tel: +46 8 440 50 50
email: katarina.janerud@nordiccapital.com

 

About Frankenius Equity

Frankenius Equity is a privately owned investment company with a focus on E-com, retail, medical technology and real estate. The company invests mainly together with operating partners and larger investment companies and currently has around ten investments. For more information visit www.fraq.se

About Gina Tricot

Gina Tricot is a Swedish fashion chain that offers exciting and feminine fashion to women in over 30 countries. The company has 162 stores and 1,600 employees. Our strength is to be able to attract the modern woman, in everything from design to price, quality and sustainability. We have a strong passion for fashion and aim to offer the customer a new and interesting shopping experience. For more information, visit www.ginatricot.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 15.5 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com

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US LBM to be Acquired by Bain Capital Private Equity

BainCapital

November 13, 2020
US LBM to be Acquired by Bain Capital Private Equity

BUFFALO GROVE, IL, November 13, 2020 – US LBM, a leading distributor of specialty building materials in the United States, today announced the signing of a definitive agreement for Bain Capital Private Equity to acquire a majority stake in the company. US LBM will continue to operate under the leadership of President and CEO L.T. Gibson and the current management team. Financial terms of the private transaction were not disclosed.

Founded in 2009 with 16 locations in three states, US LBM has grown to be a leading national distributor of specialty building materials operating more than 250 locations. The company’s unique and powerful operating model combines the advantages of its national scale and central team of industry experts with the high service levels, local expertise, entrepreneurial culture and excellent customer relationships of its 37 operating divisions. Since US LBM’s founding, it has grown through acquisitions and has opened more than 30 greenfield locations, including six this year.

“We have grown tremendously over the past 11 years, and with Kelso’s support we were able to accelerate our acquisition strategy that has positioned us for continued growth,” said Gibson. “US LBM’s national platform, local go-to-market strategy, relationships with top suppliers, and record of successful integrations continues to make us an acquirer of choice in the building materials industry. We look forward to working with Bain Capital Private Equity and leveraging their experience of helping industrial companies scale and attract additional partners.”

“L.T. and his team have built an impressive, enduring business with a winning model that combines the advantages of national scale with a strong local market strategy,” said Stephen Thomas, a Managing Director at Bain Capital Private Equity. “We believe US LBM is poised for continued growth and expansion as a leading national building materials distributor. We are excited by the opportunity to work with this talented team and to further grow their integrated platform while maintaining the company’s unique culture, people-first mindset and commitment to superior customer service.”

Bain Capital Private Equity has a long history of investments in industrial businesses and is one of the most active investors in the sector in the US and globally. The firm’s global experience across the industrial distribution and building materials sectors includes investments in a wide range of businesses including HD Supply Holdings, Inc., Imperial Dade, Dealer Tire, LLC, Consolis SAS, Ibstock PLC, and MKM Building Supplies.

Kelso & Co. has been the Company’s investment partner since August 2015.

The transaction is expected to close in December 2020 and is subject to customary closing conditions, including requisite regulatory approvals. Debt financing for the transaction is being led by Barclays and will comprise of a new asset based revolving credit facility and a combination of other new debt financing.

Barclays is serving as financial advisor, Debevoise & Plimpton as legal counsel, and Ernst & Young as accounting advisor to Kelso and US LBM. Kirkland and Ellis LLP is serving as legal counsel, and PwC as accounting advisor to Bain Capital Private Equity.

About US LBM
US LBM is a leading distributor of specialty building materials in the United States. Offering a comprehensive portfolio of specialty products, including windows, doors, millwork, wallboard, roofing, siding, engineered components and cabinetry, US LBM combines the scale and operational advantages of a national platform with a local go-to-market strategy through its national network of locations across the country. For more information, please visit www.uslbm.com.

About Bain Capital Private Equity
Bain Capital Private Equity (https://www.baincapital.com/) has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 250 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital Private Equity has 20 offices on four continents. The firm has made primary or add-on investments in more than 940 companies since its inception. In addition to private equity, Bain Capital Private Equity invests across asset classes including credit, public equity, venture capital and real estate, managing approximately $105 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

About Kelso & Company
Kelso is one of the oldest and most established firms specializing in private equity investing.  Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions.  Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy.  Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates.  Kelso has significant experience investing in financial services, having deployed approximately $3 billion of equity capital in the sector.  For more information, please visit www.kelso.com.

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Asolvi boosts commitment to DACH market with TIVAPP acquisition

Volpi Capital

Asolvi boosts commitment to DACH market with TIVAPP acquisition

Trondheim, Norway — 18th November 2020: Asolvi, Europe’s leading provider of field service and contract management software, today announced that it has agreed to acquire TIVAPP, the leading German field service solution for the fire protection and security sector.

TIVAPP is a specialist service, inventory, test documentation and billing software solution, developed by fire prevention professionals. Founded in Germany, the company has over 20 years of experience in the sector. During that time, TIVAPP has built up a market-leading customer base and established itself as the region’s premier provider of complete solutions for fire protection specialists.

The deal will see the TIVAPP team of Fire and Security experts joining Asolvi. This team, in combination with TIVAPP’s market-leading software, will strengthen Asolvi’s position across the DACH market and enhance its native-language customer support. It will also expand existing sales functions across the region, positioning Asolvi for further sustainable growth.

The acquisition demonstrates the strategic importance of the DACH region to Asolvi, as well as the strong growth potential Asolvi sees for the German Fire and Security sector. This is the sixth acquisition since 2016 and forms part of Asolvi’s broader strategy to expand organically, and where appropriate, through acquisitions across Benelux, DACH, the Nordics and the UK.

Commenting on the transaction, Pål M. Rødseth, CEO of Asolvi, said: “We are thrilled to welcome TIVAPP into the Asolvi family. We are already the leading provider of Alarm, Fire and Security service management solutions in the UK and Sweden, TIVAPP fits perfectly into our core strategy of expanding our German and Central European offering. TIVAPP’s native-language expertise and experience will be of central importance as we aggressively pursue opportunities across the region, which will consequently allow Asolvi to add size to developments and meet even further demands of customers in the very near future. TIVAPP’s acquisition represents a superb opportunity for the company’s existing management and to our staff, and we look forward to working closely alongside them as we pursue our common aims and objectives and advance into the future.”

Harry Liedtke, CEO of TIVAPP, added: “Joining with Asolvi makes huge sense for us. Combining our expertise will allow us to build market share and add resources at a much faster pace. It’s with great excitement that we enter this new phase, joining one of Europe’s leading field service management software companies. I am thrilled to be continuing TIVAPP’s journey under the Asolvi umbrella and seeing the benefits this will bring to our organisation and our employees.”

Yuri Mikhalev of Volpi Capital adds: “This is an excellent deal for Asolvi, and the natural next step in their ambitious buy-and-build strategy. We welcome Harry Liedtke and his team to the business, as partnering with TIVAPP will provide a great platform in Germany for Asolvi to capture significant market opportunities in the wider DACH region, in a very attractive vertical.

 

Financial terms of the deal were not disclosed, Mayer Brown and Deloitte acted as advisors to Asolvi.

About Asolvi

With decades of combined experience developing solutions for a variety of field service sectors, Asolvi’s products support thousands of engineers, millions of contracts, and tens of millions of service tasks. Its mission is to continue creating, deploying and refining new functionality and solutions for the largely under-served SME market, through close customer relations and strategic partnerships.

Asolvi is a leading provider of service management software for small and medium-sized enterprises (SMEs) in the field service industry in Europe, employing more than 100 staff in ten offices across the continent. The company was founded in 1991 in Trondheim, Norway, and has grown organically and through recent acquisitions to reach 1,600+ customers in 35+ countries. It is headquartered in Trondheim, Norway, and is a private company owned by Volpi Capital, Viking Venture and the Management. More information about Asolvi’s services can be found at: https://asolvi.com.

About Volpi Capital

Volpi Capital is a specialist European lower mid-market private equity firm. Volpi has a thesis-driven approach targeting ambitious businesses using enabling technologies to disrupt traditional B2B value chains. Volpi typically invests €25-75 million of equity in businesses with enterprise values between €50 million and €200 million and seeks to drive trans-formative growth through international expansion and consolidation. The firm, which was founded in 2016 by Crevan O’Grady and Marco Sodi, closed its first fund (Volpi Capital Fund I) in April 2018 with commitments of €185 million.

http://www.volpicapital.com

For all media enquiries, please contact:

Samantha Lang

+44 20 3747 2625

info@volpicapital.com

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Sandbäckens acquires Trisec AB

Segula

18 November, 2020

Sandbäckens continues its profitable growth journey and strengthens its position in the Östergötland area through an additional acquisition, Trisec AB. The acquired company offers energy-efficient automation solutions for properties and industrial premises.

Trisec is based in Norrköping and employs 14 people, generating a turnover of c. SEK 25m. The company has a broad customer base consisting of property owners, real estate managers and industrial companies with a geographic footprint spread across Östergötland.

“I am very pleased to welcome Jonas Stenbäck and all co-workers to Sandbäckens. Trisec is a successful company with significant competence and experience of meeting customer demand for energy efficient solutions in different types of properties”, says André Roos, Head of Business Development and Head of region East.

For further information, please visit www.sandbackens.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB
+46 70 229 11 85, planting@segulah.se

André Roos, Head of Business Development and Head of region East, Sandbäckens
+46 76 000 26 01, andre.roos@sandbackens.se

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