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Leading Construction Tech Company Versatile Secures $20 Million Series A Investment

Insight Partners

Versatile’s AI and IoT platform, CraneView®, increases efficiency, safety and cost-savings on any construction site

San Francisco, CA (December 3, 2020) — Versatile®, a company using machine learning and AI to optimize construction processes, today announced that it has raised $20 million in Series A funding. The round was led by Insight Partners and Entree Capital, and joined by previous investors Robert Bosch Venture Capital GmbH, Root Ventures, Conductive Ventures, and veteran construction technology entrepreneurs Leigh Jasper and Rob Phillpot. The new funding will allow Versatile to continue to rapidly scale its award-winning product across the $10 trillion global construction industry.

“You can only improve what you can measure, and at Versatile we are just scratching the surface of what we can do to create value for our users and use data to turn jobsites into controlled manufacturing with fast feedback loops,” said Meirav Oren, co-founder and CEO of Versatile. “We are thrilled to receive continued support from top-tier investors. This accomplishment is a testament to our industry, and I can’t wait to serve more teams, helping to make the professionals of our industry even better at what they are already great at.”

Leveraging AI and IoT, Versatile’s CraneView® captures and analyzes thousands of data points to deliver real-time insights on jobsite performance and streamline decision-making. Mounted under the hook of any crane, this first-of-its-kind technology offers unparalleled production data on any jobsite — including information on materials, redundancies, construction progress and crane utilization — and empowers project teams to work safer, faster, and enable a manufacturing approach to the way we build. The new funding will accelerate growth and availability of the solution, as well as the development of new, AI-based capabilities to create more connected insights for a variety of users.

“Investing in Versatile was an easy decision given how naturally their product fits the job site workflows, its high ROI, and their customer feedback about the value and experience of utilizing the CraneView solution,” said Nikitas Koutoupes, Managing Director at Insight Partners, who is also joining Versatile’s board.

Construction accounts for 13% of global GDP and is responsible for the buildings, roads, and infrastructure that power the ways people live, work and travel. A $265 billion annual profit pool awaits disruptors according to McKinsey & Company, and demand for construction technology solutions that increase efficiencies rapidly grew in 2020. Versatile provides a powerful, non-intrusive solution for the construction market, transforming traditionally time-consuming, manual processes through in-depth understanding of the efficiencies and opportunities to boost productivity and safety of any project. CraneView® is being used by top General Contractors on projects across the U.S. and Canada.

About Versatile

Headquartered in Los Altos, CA, Versatile creates technology that gives construction professionals unmatched visibility into their production rates.​ By delivering the right data to the right people at the right time while naturally fitting existing processes, a fragmented industry becomes a controllable manufacturing process. The result? Increased productivity, predictability and safety with the insights needed to manage and bid future projects more competitively.

Want to learn more? Visit: https://www.versatile.ai, follow us on Twitter @versatileai and LinkedIn or email us at letstalk@versatile.ai.

About Insight Partners

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

 

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Baird Capital Invests in HSP Group

Baird Capital

December 3, 2020 – Baird Capital announced today that it recently invested in HSP Group, a technology-enabled business services firm focused on helping US and European companies expand globally and manage their international operations.HSP Group Logo

HSP Group provides headquarters-based finance, tax, legal, and HR personnel with a simplified, turnkey approach to ensure efficient operations, full compliance with local regulations, and needed consistency across each geography.

“We are extremely pleased to help Larry Harding and the founding team at HSP Group launch their operations, and accelerate their expansion and service offerings,” said Benedict Rocchio, Partner with Baird Capital. “We witnessed first-hand the growth of one of our former portfolio companies under Larry’s leadership, and the opportunity to partner again is exciting for our firm.”

Larry Harding, Founder & CEO of HSP Group said, “Baird really knows our market, and our relationship is built on a solid foundation of trust. I couldn’t be happier to be working with them as we focus on making HSP Group the client-preferred provider of global expansion services.”

HSP Group focuses on offering the following technology-enabled services to support the international operations of its clients:

  • Global support services, including legal entity management solutions, statutory accounting & international tax compliance, employer of record (EoR) services, global payroll processing, and HR administration.
  • Consulting solutions, including specialized services like international tax advice, ad hoc and special project assistance, as-needed HR support, global mobility, VAT optimization, legal entity setup and/or rationalization, and project management (including implementation / onboarding / transformation services).
  • M&A transaction services, including International Readiness support, and other solutions helping ensure buy-side success with the more challenging multinational aspects of a carve-out acquisition.

For more information on Baird Capital’s investment strategy, click here.

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DOCAUTHORITY raises additional $3.25mm to save the world and its unstructured data files AXA Venture Partners leads Financing Round to Expand Growth

AXA

DocAuthority, the data governance platform built for both technical teams and business users, today announced that it has raised a $3.25 million Series A-1 funding round led by AXA Venture Partners. Returning investors ff Venture Capital and 2B Angels, along with UpVentures Capital, also invested. Manish Agarwal, General Partner-New York at AXA Venture Partners, will join the Board of Directors. The funds will be used to support the company’s growth within existing markets and expansion into new ones.

DocAuthority’s software is central to an enterprise’s data governance program, providing its customers with the industry’s most advanced way to manage their unstructured data and a clear line of sight to their regulated or commercially-sensitive files. Knowing where a company’s files are and who has access to them is the first step in reducing risk and increasing security. “You cannot protect what you cannot find,” says Chief Revenue Officer Colin Woodland. “Especially because of today’s distributed workforces, our customers use our software to identify vulnerabilities to malicious actors. No one else can work with unstructured data as effectively and efficiently as can DocAuthority, and our customers find great value in the software. We also find that most of them are able to reduce their data storage costs by identifying and eliminating duplicate and obsolete files. We think of ourselves as a profit center for our customers.”

An ever-expanding panoply of privacy laws, including GDPR (Europe), CCPA (California), POPI-A (South Africa-which includes criminal penalties for management in certain cases) and LGPD (Brazil) are focusing companies’ attention on compliance to satisfy their customers’ demands around data security and to avoid fines and possible criminal penalties. “We are proud to be our customers’ first line of defense in their overall strategy to live up to customer and legal demands,” says Steve Abbott, DocAuthority’s CEO. “We truly look to form a partnership with our customers so we can better understand their goals.”
Abbott continued, “that is why we are proud to have AXA Venture Partners as an investor in that vision. They understand the commercial needs created by today’s regulatory environment and their guidance will allow us to leapfrog our competitors as we address real world business demands.”
According to Agarwal, “we are thrilled to be joining the DocAuthority team. Their product is not a ‘nice-to-have,’ it is a ‘need-to-have,’ and their rapid growth and marquis customers attest to the high quality services the company offers. With DocAuthority’s focus on protecting its customers from attack, complying with government mandates and saving data storage costs, we are glad to work with Steve and his team to help grow the organization.”

About DocAuthority
DocAuthority was founded in 2015 and is headquartered in Ra’anana, Israel, with offices in London and Atlanta, Georgia. Focusing on the GRC space, DocAuthority uses proven and performance-optimized algorithms to automatically create categories of information from unstructured data within an enterprise’s files. This approach saves time, effort and money when managing their data. Whether it is managing retention periods, controlling access to personal data, the classification of sensitive data or another information governance task, DocAuthority ensures an economical and efficient process.

About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technology enabled companies. AVP has built, in less than five years, a unique investment platform specialized in tech investments with $800 million of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in more than 45 companies and more than 20 funds. The AVP team operates globally with offices in San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides unique access to business development opportunities helping portfolio companies to scale globally and accelerate their growth. More details here: www.axavp.com
About ff Venture Capital
ff Venture Capital (ffVC) is a seed and early-stage venture capital firm based in New York City. Founded in 2008, the firm invests, often as the lead investor, in growing technology and technology-enabled companies with the potential to become high-value, market-moving businesses across emerging industries, including artificial intelligence, robotics, cybersecurity, drones, enterprise software, and FinTech. More details here: www.ffvc.com

About 2B Angels
2B Angels is a leading Israel-based venture capital fund, focused on growing early-stage ventures with deep technology into category-leading companies. Founded in 2009, 2B Angels’ approach is centered around teaming up with exceptional entrepreneurs, supporting them and leveraging the team’s industry experience. Over the last decade, 2B Angels has been one of Israel’s most active venture capital funds with over 60 investments in a variety of sectors, including Cyber-Security, FinTech (specific use cases), AI & ML, Automotive/Mobility, HR Tech & Education Technology, among others. The firm in based in Tel Aviv. More details here: www.2b-angels.com.

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Why We Invested in Arctic Wolf – Ending Cyber Risk

Adams Street

Dec 03, 2020 Insights

Adams Street is excited to announce our follow-on investment in Arctic Wolf, a SaaS-based security operations platform that allows businesses of all sizes to dramatically improve their security posture without adding costly cybersecurity professionals.

Massive Market Need

Ending cyber risk is an audacious goal. The velocity at which large-scale cybersecurity breaches garner news headlines is accelerating. Especially in recent months, cybercrime has been up as businesses are increasingly vulnerable with employees working remotely. The common solution has been to deploy new cybersecurity tools and see what sticks. After all, there is no shortage of products in the market. This strategy, however, typically creates new challenges for security teams: excessive alerting, complexity of managing myriad products, and difficulty in hiring security professionals to actually run the show. As Arctic Wolf CEO, Brian NeSmith, observes, “organizations are realizing that they don’t have a tools problem, but an operational one”.

Organizations are realizing that they don’t have a tools problem, but an operational one.

— Brian NeSmith, CEO of Arctic Wolf

The major challenge of implementing a comprehensive security program is operationalizing disparate sources of information and responding appropriately to security threats. At the center of this challenge is an organization’s security operations center (SOC), which refers to the people, processes, and technologies that a company puts in place to detect and respond to cybersecurity threats. SOCs are critical to modern security architectures yet are expensive to configure, complicated to operate, and require a significant human capital investment. This challenge has given rise to a category of businesses offering Managed Detection and Response (MDR) services or a “SOC-as-a-Service”, which allow organizations to add 24/7 threat monitoring, detection, and response via a turnkey solution. According to Gartner, 25% of organizations will be using MDR services by 2025.

Superior AI-Based Solution

Arctic Wolf’s cloud-native security operations solution is leading the pack within the MDR space. The platform integrates with a customer’s existing tech stack to collect over 65 billion events daily across cloud, network, and endpoint. Using advanced AI, Arctic Wolf correlates all of these captured events with industry-leading threat intelligence to identify possible behavioral patterns of a cyberattack. From there, it’s time to act. Arctic Wolf has a dedicated “Concierge Team” of security operations specialists that work 24/7 to triage alerts, manage threats, and offer guidance on how a customer can mitigate issues in the future. The product is easy to implement, effective, and can be the difference in preventing a cyber breach. Arctic Wolf continues to innovate and broaden their product offering to include capabilities like risk management and cloud monitoring. The effectiveness of the platform has underpinned tremendous growth for the Company, which saw 106% YoY growth in subscription revenue and 301% YoY growth in the number of customers using multiple solutions.

The effectiveness of the platform has underpinned tremendous growth for the Company, which saw 106% YoY growth in subscription revenue and 301% YoY growth in the number of customers using multiple solutions

Deeply Experienced Management Team

It is rare to meet a cybersecurity executive that brings as much experience and industry vision as NeSmith, CEO and co-founder of Arctic Wolf. Scaling cybersecurity companies is not new to him. Previously, he served as CEO of Blue Coat Systems, a leading provider of content and web security. As CEO, he oversaw Blue Coat’s IPO, acquired 8 companies, and grew the business from $5mm annual revenue to $500mm revenue and 1,300+ employees. Brian has surrounded himself with a team of experienced executives with deep security expertise. The management team brings a wealth of experience from other leading companies such as Cylance, CrowdStrike, Code42, and FireEye. When Adams Street originally invested in Arctic Wolf in 2018, we knew that they were up to something special. NeSmith and team continue to impress with their product vision and execution. If there is any company that can end cyber risk, Adams Street believes that Arctic Wolf stands the best chance.

Important Considerations: This information (the “Paper”) is provided for educational purposes only and is not investment advice or an offer or sale of any security or investment product or investment advice. Offerings are made only pursuant to a private offering memorandum containing important information. Statements in this Paper are made as of the date of this Paper unless stated otherwise, and there is no implication that the information contained herein is correct as of any time subsequent to such date. All information has been obtained from sources believed to be reliable and current, but accuracy cannot be guaranteed. References herein to Adams Street Partners’ portfolio companies are not to be considered a recommendation or solicitation for any such company. Projections or forward-looking statements contained in the Paper are only estimates of future results or events that are based upon assumptions made at the time such projections or statements were developed or made; actual results may be significantly different from the projections. Also, general economic factors, which are not predictable, can have a material impact on the reliability of projections or forward-looking statements.

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Natalie Tydeman joins Kinnevik as Senior Investment Director

Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced that Natalie Tydeman will join Kinnevik in January 2021 as Senior Investment Director and member of the management team.

Natalie Tydeman has a successful track record in private equity investing with a focus on fast-growing technology companies within entertainment, education, and health/wellness, extensive senior executive experience in tech/media companies and a deep expertise in new business launches and deployment of new technologies. Natalie is also a seasoned board member and current board positions include Stockholm listed Nordic Entertainment Group and Modern Times Group. Natalie holds an MBA from Harvard Business School and a degree from University of Oxford.

Georgi Ganev, CEO of Kinnevik commented: “I am delighted to welcome Natalie to Kinnevik as a Senior Investment Director. With her long experience in tech-focused investing as well as her operational experience in the media sector, Natalie will be a great addition to our investment team where she will primarily focus on growth investments in Europe. Natalie is a value driven leader with a strong focus on building sustainable companies with a positive impact and I look forward to working with her as we continue our pivot into Europe’s leading public growth investor.“

Natalie Tydeman commented: “Kinnevik combines a highly successful mission driven investment strategy with a strong focus on sustainable business building. From my board positions in NENT and MTG I have had the opportunity to get to know the culture and entrepreneurial spirit that permeates the companies in the Kinnevik family, and I am thrilled to be joining the Kinnevik team.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to make people’s lives better by providing more and better choice. In partnership with talented founders and management teams we build challenger businesses that use disruptive technology to address material, everyday consumer needs. As active owners, we believe in delivering both shareholder and social value by building long-term sustainable businesses that contribute positively to society. We invest in Europe, with a focus on the Nordics, the US, and selectively in other markets. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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IK portfolio company Klingel medical metal acquires puracon GmbH from SHS, a medical technology investo

ik-investment-partners

SHS Gesellschaft für Beteiligungsmanagement mbH, based in Tübingen, is selling its shares in puracon GmbH to Klingel medical metal GmbH, a portfolio company of IK Investment Partners. With 600 employees, Klingel Group is one of the leading companies in the field of precision machining of high-strength materials such as stainless steel and titanium for the production of medical technology products made of metal. The purchase of puracon allows Klingel to benefit from valuable synergies as contract developer, manufacturer and packer and offer its worldwide medical technology customers a complete range of services based on the “one-stop-shop” principle. This is already the third acquisition for Klingel since IK Investment Partners acquired a stake in 2018.

SHS Gesellschaft für Beteiligungsmanagement mbH, based in Tübingen, has been active as an investor in the field of medical technology and life sciences for more than two decades. This makes SHS one of the most experienced investment companies in this sector currently investing from SHS fund V.

At the end of 2015, SHS took a stake in puracon GmbH based in Rosenheim. As a full-service partner for the medtech industry, puracon offers efficient packaging and validation solutions for medical technology products: primarily implants and instruments. Thus, puracon is part of the validated process chain of implants and the final station before the sterile product is used for patients in the hospital.

Sascha Alilovic, Managing Partner of SHS, says: “With Klingel medical metal, puracon is able to continue to pursue a targeted course of growth. Klingel thinks about the long-term. The company has been in the market since 1986 and is today one of the leading suppliers in its field. Our goal was to support puracon on the road to profitable growth. We’ve achieved this, and now it’s time to ignite the next stage – and Klingel is the perfect partner for this.”

Ralf Petrawitz, Managing Partner and CEO of Klingel, plans to significantly expand the group’s offering for medical technology customers worldwide on the basis of this acquisition. “puracon is a very good addition to an already extensive product range for our demanding customers from the medical technology sector. As a result, we are now able to offer services in the field of validation and packaging within the Klingel Group. These factors enable us to specifically strengthen our competitive position and make us fit for the future.”

Ruth Gessner, Managing Director of puracon, is also pleased with this development: “Together with SHS, we as a puracon team have been able to significantly expand our customer base over the last five years, thereby generating strong growth. With Klingel Group, we will take the next step and achieve synergies that will benefit both our customers and our employees. We look forward to working with them.”

For further questions, please contact:

IK Investment Partners
Charles Barker Communications GmbH
Tobias Eberle
Telefon +49 69 794090 24

Klingel medical metal
Ralf Petrawitz
Telefon +49 7231 6519 0 

SHS Gesellschaft für Beteiligungsmanagement mbH
Regine Hujer
Bismarckstraße 12
72072 Tübingen
Telefon +49 7071/9196-100
tuebingen@shs-capital.eu

About IK Investment Partners

IK Investment Partners (“IK”) is a pan-European private equity firm with a focus on investments in the Nordic regions, the DACH countries, Benelux and France. IK has received more than EUR 13 billion in capital commitments since 1989 and has invested in over 140 companies. IK supports high-growth companies with further potential for international expansion and add-on acquisitions. For more information: www.ikinvest.com

About Klingel medical metal:

Klingel has been a leading European company in the field of precision technology for more than 30 years with a strategic focus on the medical technology sector. With more than 600 employees, Klingel focuses on the processing of complex metal components and instruments made of titanium and stainless steel. Klingel provides the highest possible technical quality while maintaining aesthetic precision. For more information: www.klingel-med.de

About SHS Gesellschaft für Beteiligungsmanagement mbH:

SHS Gesellschaft für Beteiligungsmanagement based in Tübingen invests in medical technology and life sciences companies with a focus on expansion financing, changes in the shareholder structure and succession scenarios. SHS acquires both minority and majority stakes. Founded in 1993, the company is an experienced industry investor and supports the growth of its portfolio companies through a network of cooperations. This includes the introduction of new products, dealing with regulatory issues and gaining a foothold in additional markets, among other things. European investors in SHS funds include pension funds, strategic investors, funds of funds, family offices, entrepreneurs and the SHS management team. The company is a registered AIFM and makes equity investment of up to EUR 30 million. Volumes exceeding this limit can be implemented with a network of co-investors. SHS is currently investing from its fifth fund. The fund has received capital commitments of more than EUR 130 million. For more information: http://www.shs-capital.eu

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Fairfax announces sale of Riverstone Europe to CVC Strategic Opportunities II

02 Dec 2020

OMERS has also agreed to sell all of its interests in RiverStone Europe as part of the transaction

Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that it has entered into a binding agreement with CVC Capital Partners (“CVC”) to sell all of its interests in RiverStone Europe to CVC Strategic Opportunities Fund II. OMERS, the pension plan for Ontario’s municipal employees, has also agreed to sell all of its interests in RiverStone Europe as part of the transaction.

The purchase price to be received by Fairfax on closing of the transaction is approximately US$750 million. Fairfax will also be entitled to receive up to US$235.7 million post-closing under a contingent value instrument. Luke Tanzer will remain the Managing Director of RiverStone Europe and Nick Bentley, the Chief Executive Officer of the RiverStone Group, will remain on the board of RiverStone Europe post-closing.

After closing, RiverStone Europe will also operate under the name RiverStone International and will seek to continue its successful track record of acquisitions and growth led by its existing management team.

“We are very pleased to enter into this transaction with CVC,” said Prem Watsa, Chairman and Chief Executive Officer of Fairfax. “RiverStone Europe is an industry leader in run-off insurance services, and CVC’s scale and vision will give RiverStone Europe, under the continued leadership of Luke and his management team, the opportunity to further grow the business. Nick and Luke are also fully supportive of this transaction, based on their strong beliefs that it was the best way for RiverStone Europe to continue to grow and pursue run-off transactions. We wish Luke and all of the employees at Riverstone Europe much success in the future. Fairfax remains committed to continuing to grow its other European businesses, including its Lloyd’s of London activities.”

“I am extremely happy to partner with CVC in this next chapter of our development,” said Luke Tanzer, Managing Director of RiverStone Europe. “This transaction will provide us with a runway for further growth as we continue to offer the most trusted and effective run-off solutions in the insurance market. We look forward to joining the CVC family and benefitting from their deep experience of financial services, global network and long term pool of capital.”

“As one of the largest global consolidators of non-life run-off insurance books, with a leading position in the UK and Lloyd’s market, embedded cash flows and a predictable financial profile, RiverStone Europe is ideally suited to CVC’s Strategic Opportunities platform, which specializes in backing established businesses in stable markets that have long term growth ambitions,” said Peter Rutland, Managing Partner and Head of Financial Services at CVC. “We have got to know RiverStone and Fairfax over many years, and are delighted to now have the opportunity to work with Luke Tanzer and his experienced team.”

The transaction is subject to customary closing conditions, including various regulatory approvals, and is expected to close in early 2021.

Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.

CVC is making this acquisition through Strategic Opportunities Fund II, a vehicle designed to invest in high-quality businesses that are suited to longer hold investment horizons.

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N2 Biomedical Appoints Eric Tobin To Chief Executive Officer

BEDFORD, Mass., Dec. 2, 2020 /PRNewswire/ — N2 Biomedical, a leading provider of coating and surface treatment solutions to the medical device industry, today announced that its Board of Directors has appointed Eric Tobin to President and Chief Executive Officer. With more than 30 years of experience with the company, Mr. Tobin most recently served as the company’s Chief Operating Officer. In addition to his current responsibilities, he will assume the leadership of all commercial aspects of the organization, as well as overseeing the overall implementation of the corporate growth strategy.

Mr. Tobin has served in numerous senior leadership positions at N2 Biomedical and the company’s previous corporate parent over the last three decades. He has served as Vice President and Chief Operating Officer for the company since September 2013. Prior to N2 Biomedical’s formation, Mr. Tobin joined Spire Biomedical in 1989 and served as Vice President and Chief Operating Officer from 2001-2013, where he was responsible for simultaneously managing the operations of Spire’s surface treatment business and dialysis catheter business unit. Mr. Tobin holds B.S. and M.S. degrees in Applied Physics from the University of Massachusetts at Lowell.

“We are very pleased to have Eric assume the role of Chief Executive Officer at N2,” said Trevor Wahlbrink, a Partner at Ampersand Capital Partners and member of the Board of Directors. “His years of direct experience within the organization and broad skill set uniquely position him to effectively lead the company through its next stage of growth. Under Eric’s leadership, we are confident that N2 will continue to further penetrate the medical device surface treatment and coatings industry with its unique technologies.”

Mr. Tobin commented, “I am truly honored that the Board has selected me to assume the CEO position and am excited about the prospects for the company’s future. We have a dedicated and talented staff, a great foundation of core technologies, and a solid customer base. I look forward to working with the Board and Ampersand to continue providing our customers with the high level of service that they’ve come to expect from us while also building upon our numerous strengths as a company and capitalizing on growth opportunities.”

About N2 Biomedical

Established in 2013, N2 provides coating and surface treatment development and application services for implantable and other medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets. N2 is ISO-13485 certified, FDA GMP-compliant, and operates in a 30,000 square foot facility with laboratory, manufacturing, and cleanroom space to service all customer and regulatory requirements. The company leverages its proprietary processes and equipment to provide customized solutions that enhance the characteristics of various materials in critical applications, including lubricity, infection resistance, biocompatibility and tissue integration, and wear and corrosion resistance. Additional information about N2 Biomedical is available at www.N2bio.com. 

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com. 

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PDFTron Acquires PDF Editing and Translation Innovator Iceni Technology

Acquisition Adds EMEA Footprint and 11,000 Global Customers, Deepens PDF Editing and Translation Product Offering

Market-leading provider of document technology solutions for software developers, PDFTron Systems Inc., today announces the acquisition of Norwich, UK-based Iceni Technology Ltd., specialists in PDF editing and translation software and producers of a series of firsts in the field of PDF manipulation.

PDFTron Founder and CTO Ivan Nincic stated, “At PDFTron, we partner with innovative companies that are leaders in their fields and offer superior value propositions to their customers. With Iceni, we’re excited to bring on an incredible team with over 15 years of developer experience innovating PDF editing and automated PDF translation. Both companies stand to benefit from each other’s strengths as we combine our offerings to power the next generation of document processing applications.”

“With PDFTron’s scale and broad platform, we can now provide our 11,000 customers worldwide greater value in terms of access to hundreds of unique PDFTron SDK features, top-quality rendering performance, and market-leading support service and responsiveness,” stated Iceni Co-Founder and Director Simon Crowfoot. “We also see synergies in the document understanding field, where our advanced PDF editing and translation features naturally augment PDFTron’s content extraction, document reflow, form and invoice recognition, and next-gen search capabilities using Deep Learning and AI.”

The Iceni acquisition marks PDFTron’s entry into the European market and builds on recent acquisitions of North American enterprise document software providers ActivePDF and BCL Technologies earlier this year. PDFTron continues to be engaged in a global search for best-in-class technology to add to its growing, end-to-end document SDK platform, including the #1-ranked commercial PDF SDK.

With PDFTron’s planned integration of the trailblazing Iceni Infix PDF Editor and its Infix TransPDF functionality, PDFTron customers can now look forward to giving their users a deep Word processor-style editing experience on PDFs and accurate, push-button translations of PDFs in 60+ languages across all platforms.

About Iceni Technology Ltd.

Formed in 1996 with a background in pre-press, newspapers and PostScript, today, Iceni Technology is an established software development company based in the city of Norwich in the UK. Iceni continues to innovate in translation and web-based PDF interaction, having previously produced a series of firsts in the field of PDF manipulation. Its products on desktop, server and web hosts, including the Infix PDF editor, are translated into most European languages for its over 11,000 professional, corporate, educator, and estate agent customers in 39 different countries. For more information, visit www.iceni.com.

About PDFTron Systems Inc.

Headquartered in Vancouver, BC, PDFTron is a premier global provider of high-performance document processing technology serving customers across a broad spectrum of industries. PDFTron’s market-leading SDK drives digital transformation and powers next generation software applications with dynamic document viewing, annotation, processing, and conversion capabilities, as well as advanced features such as document understanding, data extraction, and redaction. PDFTron technology supports all major platforms and dozens of unique file types, including support for PDF, MS Office, and CAD formats. For more information, visit www.pdftron.com.

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Novacap Acquires Logibec

Novacap

Montreal, December 2, 2020 – Novacap, one of Canada’s leading private equity firms, in partnership with Investissement Québec, today announced that it has acquired Logibec, a Montreal-based healthcare software company. The transaction brings back Logibec to Canadian ownership.

 

« We are grateful for the enthusiastic support of Novacap and its partners in this transaction, which not only brings our company back to Canadian ownership, but also positions us for expansion outside of North America. Our most recent breakthrough in foreign markets confirms that Logibec has invested in the right growth areas such as data management solutions. The Novacap team understands our Canadian heritage and is well positioned to support us in the next phase of our development. »

Marc BrunetCEO, Logibec

« Novacap has always been committed to fostering entrepreneurship and innovation right here in Quebec, and Logibec has epitomized that since inception. Novacap has a long history of successfully partnering with Canadian companies and helping them grow significantly. We are very excited to lead this investment alongside Investissement Québec and management in Logibec, a flagship provider of IT and software solutions to the Canadian healthcare ecosystem and support the company in its international expansion »

Pascal TremblayPresident, CEO and Managing Partner, Novacap

Founded in 1982, Logibec is one of Canada’s largest healthcare technology companies and is entirely dedicated to contributing to the better delivery of patient care and to assisting healthcare managers in their day to day operations through technology.

“We are grateful for the enthusiastic support of Novacap and its partners in this transaction, which not only brings our company back to Canadian ownership, but also positions us for expansion outside of North America,” said Marc Brunet, CEO, Logibec.

“Our most recent breakthrough in foreign markets confirms that Logibec has invested in the right growth areas such as data management solutions. The Novacap team understands our Canadian heritage and is well positioned to support us in the next phase of our development.”

“Novacap has always been committed to fostering entrepreneurship and innovation right here in Quebec, and Logibec has epitomized that since inception,” said Pascal Tremblay, President, CEO and Managing Partner, Novacap. “Novacap has a long history of successfully partnering with Canadian companies and helping them grow significantly. We are very excited to lead this investment alongside Investissement Québec and management in Logibec, a flagship provider of IT and software solutions to the Canadian healthcare ecosystem and support the company in its international expansion.”

“Logibec has a long history of working in collaboration with private equity sponsors, and as their new partners, we are thrilled to support management’s growth initiatives and to contribute improving healthcare by bringing innovative solutions to the market,” said Eric Desrosiers, Senior Partner, Novacap. “Our investor group is committed to providing Logibec all the resources it needs to develop new solutions and expand its footprint in new geographies.”

“The investment that our government is making in Logibec is strategic for Québec’s position in this highly competitive sector. It will enable the company to remain among the leaders in information systems for the health and social services sector. The company will thus be able to focus on developing solutions essential to the quality of care offered to patients, particularly in hospitals,” said Pierre Fitzgibbon, Minister of the Economy and Innovation.

“We’re proud to be involved in this major investment, which is helping to bring Logibec’s ownership back to Québec and consolidate the vitality of our healthcare IT ecosystem. For more than four decades, the company has applied its expertise in our healthcare institutions, standing out because of its leading-edge technologies. Alongside solid financial partners like Novacap, Investissement Québec plans to continue supporting the players and key sectors of our economy in order to spotlight our know-how and grow our investments and exports,” said Guy LeBlanc, President and CEO of Investissement Québec.

Fasken Martineau Dumoulin LLP, Ernst Young LLP, Tectonic Advisory Services Inc., Crosslake Technologies, LLC and National Bank Financial Inc. acted as advisors to Novacap.

Logibec was formerly a portfolio company of GI Partners.

 

About Novacap

Founded in 1981, Novacap is a leading Canadian private equity firm with CA$3.6 billion of assets under management. Its distinct investment approach, based on deep operational expertise and an active partnership with entrepreneurs, has helped accelerate growth and create long-term value for its numerous portfolio companies. With an experienced management team and substantial financial resources, Novacap is well positioned to continue building world-class businesses. Backed by leading global institutional investors, Novacap’s deals typically include leveraged buyouts, management buyouts, add-on acquisitions, IPOs, and privatizations. Over the last 39 years, Novacap has invested in more than 90 companies and completed more than 140 add-on acquisitions. Novacap has offices in Brossard, Quebec and Toronto, Ontario. For more information, please visit www.novacap.ca.

About Logibec

Headquartered in Montreal, Canada for nearly 40 years, Logibec deploys information systems that span the clinical, operational, and business needs of complex healthcare organizations. Logibec’s clients are also empowered to improve and innovate by utilizing our industry-leading suite of actionable analytics solutions and advisory services.

For more information, visit www.logibec.com.

About Investissement Québec

Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec – CRIQ. In addition, through Investissement Québec International, the Corporation also prospects for talent and foreign investment and assists businesses with export activities.

 

For further information: Novacap: Alexandra Troubetzkoy, NOVACAP, +1 450-651-5000 ext.291, atroubetzkoy@novacap.ca

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