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symplr to acquire TractManager

Arsenal Capital Partners

October 23, 2020

Acquisition will further establish symplr as the leading cloud healthcare governance, risk and compliance software platform and will accelerate product innovation and growth

SANTA MONICA, CA and HOUSTON, TX – October 23, 2020 – symplr, a leading global healthcare governance, risk management, and compliance (“GRC”) software-as-a-service (“SaaS”) platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and SkyKnight Capital (together with its affiliates, “SkyKnight”), today announced that it has signed a definitive agreement to acquire TractManager (or the “Company”) from Arsenal Capital Partners (“Arsenal”). Financial terms were not disclosed.

This powerful combination will deliver the healthcare industry’s most complete end-to-end GRC software and services platform. symplr’s SaaS platform will now serve as the single source of truth for provider data management, workforce management, vendor and visitor management, contract management, spend management, compliance, quality, and patient safety. The symplr platform addresses the full spectrum of healthcare labor and supply chain regulatory requirements while supporting the delivery of improved quality of care and patient outcomes.

TractManager’s technology and professional services optimize the business of healthcare through contracting, sourcing, and provider management solutions. TractManager’s expert workforce and rich history of innovation in healthcare technology make this acquisition a winning strategy for the healthcare industry.

Together with TractManager, symplr will enable healthcare organizations to manage provider and supply chain data, including credentials, authorizations, privileges, quality metrics, staffing, time & attendance, contracts, and spend across employees and third parties. Additionally, customers will benefit from the expanded scale, platform innovation, corporate resources, and service capabilities that the combined company will deliver.

Growth through acquisition, coupled with innovation, is an integral part of symplr’s business strategy to deliver the industry’s leading healthcare GRC SaaS platform. The acquisition of TractManager represents symplr’s tenth successful acquisition in the past six years, and its fifth under sponsorship from Clearlake and SkyKnight since November 2018.

“We are thrilled to welcome TractManager to the symplr family,” said Rick Pleczko, CEO, and Tres Thompson, COO, of symplr. “TractManager’s cloud solutions bring powerful new capabilities to our customers’ connected GRC enterprise, enabling additional insights to drive improved quality of care and financial performance. Our expanding, end-to-end SaaS platform is a one-of-a-kind single source of truth for GRC-related data for providers, payers, and health systems.”

“Since our sponsorship of the company in 2018, symplr has successfully executed on its growth strategy, delivering increased revenue and significant product innovation,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “This acquisition enhances symplr’s position as a cloud industry leader, and we are excited to support the management team as they continue to execute on our buy-and-build strategy while driving meaningful value for providers and payers.”

“This combination will enable TractManager and symplr to make an even greater, positive impact on our clients and the healthcare industry as a whole,” said Trace Devanny, CEO of TractManager.

“We are proud to have supported the talented team at TractManager in building market-leading solutions that enable hospitals, physician practices, and payers to deliver better outcomes for patients,” said Gene Gorbach, an Investment Partner of Arsenal. “We are excited about the next chapter of TractManager’s growth in combination with symplr.”

“TractManager’s solutions are highly complementary to symplr’s existing offerings, and we look forward to further investing in these capabilities to provide a best-in-class platform to the combined customer base,” said Jordan Milich and Claude Burton of SkyKnight.

Credit Suisse AG, Goldman Sachs Bank USA, Antares Capital LP, Ares Management funds, Deutsche Bank Securities Inc., Golub Capital LLC and Jefferies LLC are providing debt financing for the acquisition. Sidley Austin LLP served as legal advisor to symplr. Harris Williams & Co. served as financial advisor and Morgan, Lewis & Bockius LLP served as legal advisor to TractManager.

About symplr

Founded in 2006, symplr is a global leader in enterprise Governance, Risk Management, and Compliance (GRC) SaaS solutions. symplr focuses on a single mission: to make healthcare GRC simpler and more efficient for the global healthcare community. The symplr platform offers solutions that span provider data management, provider credentialing services, compliance, patient safety, workforce management, and vendor management. Our customers count on us every day to help protect and streamline their businesses with reliable and innovative GRC solutions. More information is available at www.symplr.com.

About TractManager

TractManager’s healthcare-specific application suite serves three out of five U.S. hospitals. Serving the healthcare industry with integrity for more than 30 years, TractManager is the first mover in strategic sourcing, enterprise contract lifecycle management, provider management and evidence-based data. The company’s more than 450 highly skilled and experienced professionals help clients to improve cash flows by reducing their capital and nonlabor costs and to conform their contract, policy, and procedure management to meet regulatory requirements. For more information, visit tractmanager.com.

About Clearlake Capital

Clearlake Capital Group, L.P. is a leading investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are technology, industrials and consumer. Clearlake currently has approximately $25 billion of assets under management and its senior investment principals have led or co-led over 200 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.

About SkyKnight Capital    

Founded in 2015, SkyKnight Capital manages over $1 billion in private equity capital on behalf of leading institutional family offices, foundations, and endowments. SkyKnight makes long-term investments into high quality businesses in acyclical growth sectors alongside exceptional management teams. SkyKnight aims to build category-leading businesses with a clear growth orientation in healthcare, insurance, and business services. More information is available at www.skyknightcapital.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market healthcare and specialty industrials companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add.  For more information, please visit www.arsenalcapital.com.

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Dunedin backed GPS secures investment from Visa

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Dunedin

GPS,

the  leading payments issuer processor, has secured a strategic investment from long-standing partner Visa Inc. to accelerate its global expansion. GPS powers next generation fintech payment companies and sits behind many of the world’s most exciting fintech companies and digital banks including Revolut and Starling Bank.
GPS was backed by UK private equity firm Dunedin in June 2018, in what was the largest B2B fintech financing in the first half of 2018. Since then, it has achieved spectacular growth with its operations expanding from the UK into Europe and APAC and year on year revenue growth exceeding 30%. Dunedin has a successful track record of investing in businesses that have cutting edge technologies at the core of what they do, particularly within the payments and insurance sub-sectors of financial services.
Oliver Bevan, Partner at Dunedin who sits on the Board of GPS, commented: “Since we invested just over two years ago, GPS has shown phenomenal growth and this investment from Visa, a global leader in payments technology, is testament to the business’ outstanding reputation. GPS has a strong relationship with Visa across four continents and the investment will allow the business to further expand its global reach.”
He added: “The global payments industry is seeing record growth, particularly given the current preference for digital payments over cash transactions. GPS has been a major contributor to the fintech revolution, being the only issue processor of its kind to support fintechs, challenger banks and e-wallet providers on their growth journey. This is a core area of expertise for Dunedin and we are actively seeking new investments within the payments industry.”
With the support of the UK Department for International Trade’s Fintech Bridges and the Singaporean Economic Development Board, GPS successfully expanded into the APAC region last year and has already delivered successful programmes including Xinja, a new digital banking experience in Australia and WeLab Bank, the first virtual bank and only domestic neo bank in Hong Kong. Having been selected as a preferred issuer processor for Visa’s APAC Fintech Fastrack programme, GPS has worked closely with Visa to deliver a next generation showcase for the 2021 Tokyo Summer Olympics.
Moving forward, the company intends to replicate its European and APAC accomplishments across other regions as a Visa preferred processor.

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Nordian Capital and J-Club International complete acquisition

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Nordian Capital

Amsterdam and Almere, October 22, 2020 – Nordian Capital and J-Club International, European market leader in private label fashion jewelry, accessories and greeting cards, have completed their transaction. The management of J-Club and the team of Nordian Capital have set aside their previous dispute about financing conditions and jointly focus on the future. Nordian has acquired the majority of the shares of J-Club. With the completion of this acquisition, J-Club and Nordian will focus on executing the joint investment strategy which consist of international growth and expanding services to retailers with additional product categories.

With this transaction, all minority shareholders have sold their shares. The founders will remain important shareholders and will fully focus on the next phase of growth of J-Club. The transaction has been completed after Nordian and J-Club were able to secure external financing on favorable terms for all involved, with the help of the Dutch parties Rabobank, DMF and FundIQ. Joost Verbeek, Managing Partner Nordian Capital: “We are pleased that we can leave a difficult acquisition process behind us and now focus on the growth of J-Club. We have great confidence in the business model of J-Club and we strongly believe that together with its management we can continue to grow the business both domestically as well as internationally. The current turbulent times are difficult for all types of companies, but we are confident that once we return to a normal society, J-Club will be stronger and will emerge as a winner. Together with management of J-Club – we are going to work hard to achieve this.”

National and international growth
J-Club now looks to the future with great confidence. Sjoerd Everts, co-founder: “This acquisition enables us to jointly pursue with the investment strategy: growth by accelerating our international expansion on the one hand and expanding our business model, the full-service for retailers of the J-Club portfolio, to other product categories such as for example winter accessories and hair fashion. ”

Marcel van Doorn, co-founder of J-Club: “It is good that we have concluded all discussions and are working together on creating a bright future for J-Club. Ultimately, we can say that, after this sometimes difficult phase, the relationships are now back to the level they were at the beginning of this year, when we first decided to work together, and we all realize there are plenty of opportunities. We are currently expanding strongly within national and international retail chains. They see the J-Club business model as a very attractive addition to their own product range and operation.”

About Nordian Capital
Nordian Capital (Nordian.nl) is an independent Dutch private equity investor, focused on increasing and accelerating the growth of companies. Founded in 2014, Nordian has now contributed to more than 30 companies as a critical and committed investment partner. Nordian Capital offers proactive support in the areas of strategy, financing or mergers & acquisitions. Nordian actively supports and assists the management of its companies, so that the entrepreneurs can continue to do what they do best: growing their business.

About J-Club International
J-Club International (J-Club.com) is the European market leader in private label fashion jewelry, accessories and greeting cards through its shop-in-shop concept. Founded in 2010, more than 1,200 employees provide the product range in more than 12,500 stores for over 40 retailers in 25 EU countries. Together with its retail partners, J-Club works towards only one common goal: loyal and satisfied customers.

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Sustainable Growth: Revolution Completes Acquisition of Polar Plastics

Arsenal Capital Partners

October 22, 2020

Plastic Recycler and Manufacturer Expands Commercial Products Division with Purchase of Minnesota-based Company

Little Rock, AR – October 23, 2020 – Revolution, a leading manufacturer of sustainable plastic solutions, today announced that it has acquired Polar Plastics Corporation (“Polar Plastics”) from Spell Capital Partners in order to expand its production footprint and further penetrate the packaging, agriculture and retail sectors with environmentally friendly products.

Polar Plastics has been serving the construction, agriculture, packaging, logistics, home improvement, and retail markets with high-quality polyethylene products since 1967. The company is based out of St. Paul, Minnesota where it operates a 100,000-square-foot production facility making products such as stretch film, sheeting, and custom rolls and bags.

Headquartered in Little Rock, Arkansas, Revolution is driven by a single mission: to create sustainable plastic solutions that help preserve the environment for future generations.  Through its innovative closed-loop system, Revolution markets a wide array of green plastic solutions for the agriculture, construction, foodservice and retail sectors, which it then recovers, cleans and processes into post-consumer recycled (PCR) resin used to make new products such as trash can liners, carryout bags and construction films.  Revolution was acquired by Arsenal Capital Partners in July 2019.

“The team at Polar Plastics has created a terrific business with deep customer relationships and a reputation for quality products and exceptional service.  Their commitment to their customers and their culture of excellence and collaboration are a great fit with our priorities and mission,” said Sean Whiteley, Revolution’s CEO. “We feel very fortunate that we can add the great people at Polar Plastics to the Revolution family and look forward to learning from them and helping to contribute to their future success.  We are confident this combination will strengthen our ability to serve new end markets and geographies with unique closed-loop collections, recycling and PCR-rich manufacturing solutions.”

“We have enjoyed the role Spell has played as a part of the Polar ownership history as it has successfully transitioned from a family owned business over the last several years,” said William Spell, President of Spell Capital.  “We also appreciate the opportunity we’ve had to work with the Polar management team and are excited about the Company’s future as it joins the Revolution organization”.

About Revolution

Headquartered in Little Rock, Arkansas, Revolution Believes in Better Plastics that help preserve our environment for future generations. Spanning nearly every industry, the company’s family of brands deliver sustainable, high-quality plastic products to both consumers and companies alike. Its brands include Delta Plastics, Revolution Bag, Revolution Ag, Rodeo Plastics and Command. The focus in all areas is to create sustainable circular solutions and use as much post-consumer resin as possible in all products manufactured.  For more information, visit www.revolutioncompany.com.

About Polar Plastics

Polar Plastics is headquartered in St. Paul, Minnesota and manufactures plastic film and low-density polyethylene packaging products used to make plastic films and bags for packaging, logistics, home improvement, retail, and other applications. Polar has a been a trusted supplier of quality stock and custom products with attentive service to diverse, long-standing customers since 1967. For more information, visit www.polar-plastics.com/.

About Spell Capital Partners

Spell Capital Partners is an established manager of private equity and mezzanine capital based in Minneapolis, Minnesota. Founded in 1988, Spell Capital has over 30 years of successful industry experience. Currently, the firm manages over $1.0 billion of capital (AUM), has 95 active investments, and have finished investing our fifth private equity buyout fund, Spell Capital Partners Fund V, and are now investing Spell Family Office capital in new control equity deals. Additionally, we are investing our second mezzanine fund, Spell Capital Mezzanine Partners II. For more information, please visit www.spellcapital.com

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle‐market specialty industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 45 platform investments and achieved more than 30 realizations. Arsenal invests in industry sectors in which the firm has significant prior knowledge and experience. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value‐add.  For more information, please visit www.arsenalcapital.com.

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Volpi Capital invests in Boyum IT Solutions

Volpi Capital

London, 22 October 2020: Volpi Capital (“Volpi”), a specialist European lower mid-market private equity firm, announces its eighth investment with the management buyout of Boyum IT Solutions (“Boyum”), a global SAP Business One Software Solutions Provider based in Denmark.

Boyum is the leading Software Solution Provider in the SAP Business One ERP ecosystem targeting the upper SME segment globally. The company has succeeded in establishing an unmatched distribution network of partners through an attractive product offering and comprehensive partner enablement efforts. Boyum offers 3 award-winning and mission critical software product families: Boyum: Horizontal software solutions enhancing flexibility and user-friendliness of SAP Business One, Beas Manufacturing: Advanced manufacturing software tailored to 13 distinct industry verticals and Produmex: Logistics/warehouse management software. Boyum is headquartered in Aarhus, Denmark and employs c.100 people in 7 global offices.

Marco Sodi, Volpi Capital, commented: “Boyum fits well into our thesis for independent developers of software solutions for winning ERP ecosystems, such as SAP Business One. The Company has shown how to create growth through a strong partner focus, technological expertise and a unique way to enable their partner channel. The potential is great for Boyum IT Solutions globally, and we look forward to partnering with Mikael Boyum and his team to accelerate their successful business model”.

Mikael Boyum, founder and CEO of Boyum IT Solutions, added: “We are confident that the partnership with Volpi Capital will help to create an exciting future for the company, employees and partners. Strategic support from Volpi will strengthen our continued growth plans and business potential”.

Volpi Capital was advised by Carnegie, Kromann Reumert and PwC.

Media enquiries Volpi Capital
Samantha Lang
Public Relations
+44 203 747 2625
sam@volpicapital.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 transformative 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

ABOUT BOYUM IT SOLUTIONS

Boyum IT Solutions is a global award-winning SAP Business One implementation, consultancy and development house with more than 8,000 customers worldwide. Their strong individual skill sets combined with fast and efficient implementation methodology make them one of the strongest teams in the field.

Founded in Denmark in 1997, Boyum IT has been implementing and supporting ERP Accounting Software for more than 15 years. In 2004, Boyum IT became an authorized Partner for the SAP Business One system and the company is today a certified SAP partner.

https://www.boyum-solutions.com

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Equistone to sell Group of Butchers to Parcom

Equistone

Funds advised by Equistone Partners Europe (“Equistone”) have agreed to sell their majority stake in Group of Butchers, a leading manufacturer and supplier of artisanal specialty meat products based in Tilburg in the Netherlands, to Dutch investment firm Parcom Private Equity (“Parcom”). Equistone acquired Group of Butchers in 2017 and since then has supported the company’s growth strategy through a range of targeted acquisitions. The financial terms of the transaction are undisclosed and the transaction remains subject to approval from the relevant competition authorities.

Founded in Tilburg in 1997, Group of Butchers has developed into a Dutch market leader for high-quality artisanal meat products with a focus on sausage and minced meat specialties. The company is characterised by high quality standards, smart product marketing, constant innovations in its production and procurement processes and a keen eye for spotting new trends in the industry such as American BBQ, gourmet burger restaurants and street food. Its broad range of high-quality meat and sausage products is primarily distributed by leading retail chains in the Netherlands, Belgium and Germany.

Equistone acquired a majority stake in Group of Butchers in early 2017 and has since then supported the company’s strategic growth through several targeted acquisitions and expansion into new markets. In 2018, Group of Butchers acquired Koetsier Vleeswaren and Keulen Vleeswaren, two Dutch producers of smoked and cured sausage products, as well as Gebroeders Snijders Vleeswarenfabriek and VLL Vers Logistiek Limburg. The latter acquisitions allowed Group of Butchers to further expand its service offering in the slicing and packaging of meat products. In addition, the company entered the German market in late 2018 by acquiring Hartmann GmbH, a leading producer of minced meat products based in Warendorf, Germany, as well as Gmyrek Group, a well-established manufacturer of meat and sausage products based in Gifhorn, Germany. In July 2019, Schouten Vleeswaren, a Dutch specialist for BBQ and grilled meat products, was also added to the group. In total, Group of Butchers today employs a staff of 900 at 12 production facilities and 2 distribution centres, and forecasts revenues of around €280 million for 2020.

“The partnership with Equistone allowed us to expand our geographical reach and once more significantly strengthen our position as a leading manufacturer and supplier of high-quality artisanal meat products in the Netherlands and increasingly also in Germany and Belgium. We are looking forward to our cooperation with Parcom for our next growth steps,” says Remko Rosman, CEO at Group of Butchers.

“The outstanding market position of Group of Butchers is above all a result of its high quality standards as well as its broad expertise in identifying trends in the premium meat products sector. Along with its excellent management team, we have implemented a successful buy-and-build strategy in recent years and ideally positioned the company for further growth. We are happy that Group of Butchers has found the optimal partner to support its next steps,” says Dr. Marc Arens, Partner at Equistone.

“We see a lot of potential in the integration of recent acquisitions and organic growth as well as adding new customers and product categories to Group of Butchers’ portfolio through more buy-and-build. We look forward to actively supporting the company in further developing its potential,” says Maurits Werkhoven, Partner at Parcom.

Dr. Marc Arens and Maximilian Göppert led the transaction on behalf of Equistone. Equistone was advised by Rothschild & Co (M&A), EY Parthenon (CDD), EY Financial (FDD), EY Tax (TDD) and A&O (Legal).

 

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Oakley acquires WindStar Medical

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has agreed to acquire WindStar Medical GmbH (“WindStar Medical”) from ProSiebenSat.1 majority-owned NuCom Group.

WindStar Medical is Germany’s leading over-the-counter (“OTC”) consumer healthcare company. The platform, which is expected to generate over €120 million in revenues this year, designs, develops and commercialises branded consumer health and private label products, with a track record of establishing best-in-class medical formulations and brands.

The Consumer Brands segment of WindStar Medical offers a wide range of premium high-growth branded products in Germany, including SOS (wound care / disinfectants), Zirkulin (gastro-intestinal care), GreenDoc (mental wellbeing) and EyeMedica (eye health). WindStar Medical is also a provider of Private Label products to the leading German drug stores and supermarkets, whilst also developing an international distribution footprint through existing and new partners.

WindStar Medical benefits from the long-term structural growth of Germany’s consumer health market. This growth is being driven both by demographic trends, such as an ageing population, and a shift in consumer preferences driven by factors such as increased awareness of physical and mental wellbeing and willingness to prevent illness. Through its investment, Oakley will support the company’s management team as they continue to drive revenue growth, product innovation, digitalisation, as well as identifying opportunities to scale the business through accretive acquisitions.

The investment in WindStar Medical builds on Oakley’s successful track record of investing in leading consumer platforms in the DACH region, including Verivox, Parship Elite and more recently Wishcard Technologies and 7NXT / Gymondo. The business displays the typical Oakley deal characteristics, as it has an asset-light business model, industry-leading operational capabilities, and an attractive growth profile.

 

“WindStar Medical is a unique OTC platform in a highly attractive space that Oakley is excited to be investing in, having closely followed both the development of the business and management over recent years. We look forward to working together with the team and utilising our broad expertise in digitalisation, go-to-market and M&A to help WindStar Medical accelerate its growth trajectory in Germany and international markets.”
Peter Dubens
Managing Partner of Oakley Capital

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Riverside Gets a Grip on Its Latest Investment

Riverside

News Release October 22, 2020

The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has invested in Geroline Inc., a virtual manufacturer of footwear traction aids serving diverse industrial end-markets in Canada and the United States. Geroline is an add-on to Riverside’s SureWerx platform, a leading supplier of professional safety products, tools and equipment.

Geroline has transformed the ice cleat market over the last five years. Under the K1 brand, the company developed a unique ‘twist’ to the traction aid industry by providing a mid-sole ice cleat that can be easily rotated from the sole to the top of the footwear for easy outdoor to indoor or outdoor to in-vehicle transitions. Geroline also provides mid-sole traction aids that are certified Intrinsically Safe for use in hazardous and flammable environments. The simple yet effective nature of this product is revolutionizing the traction aid industry for every type of professional worker.

“We’re excited to work with the Geroline team and build upon its already-proven product line,” said Riverside Partner Brad Roberts. “This investment is the next step in our strategy to build SureWerx into the leading provider of innovative, proprietary safety brands that are highly sought after by end-users and distributors alike.”

Geroline is SureWerx’s fourth add-on since Riverside acquired the platform in November 2018. Riverside is actively supporting SureWerx’s efforts to add complementary new products and categories and deliver best-in-class service to its growing, global network of loyal distributors and end-users.

“Under our platform umbrella, we plan to introduce Geroline’s superior mid-sole traction aids into the SureWerx sales engine to drive additional growth,” said Riverside Principal Constantine Elefter. “Geroline represents an opportunity for SureWerx to take a strong, niche brand and expand its reach into its broad distribution network.”

This is one more example of Riverside’s dedication to a broad range of specialty manufacturing and distribution companies and a growing commitment to businesses focused on workplace and employee health and safety. Working closely with management, Riverside fosters growth through a unified approach that pairs investment expertise with Riverside’s global resources.

“Adding K1 to our growing world-class portfolio of SureWerx brands continues to propel us toward our goal of becoming the global leader in safety and productivity,” said SureWerx Chief Executive Officer Chris Baby. “As the dominant mid-sole brand, K1 is highly complementary to our Due North portfolio, which enjoys a leadership position in full-coverage ice cleats. Combined, SureWerx now offers the best one-two punch in the slip protection market.”

Geroline’s K1 Series joins the SureWerx family of highly respected safety brands including Due North®, Jackson Safety®, Wilson®, Sellstrom®, Pioneer®, KneePro®, PeakWorks® and ADA Solutions®.

Working with Roberts and Elefter on the deal were Senior Associate Tom Wyza, Associate Max Simon, Operating Partner Eric Nowlin and Operating Finance Executive Kyle Morse. Partner Anne Hayes helped secure financing for the transaction.

Golub Capital provided debt financing for the deal. Jones Day and Alvarez & Marsal supported the transaction as the legal counsel and accounting advisor, respectively. Aramar Capital Group acted as the financial advisor to Geroline.

Muellerholly BKG 300X450 Holly Mueller Consultant, Global Marketing and Communications Cleveland +1 216 535 2236

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CapMan to publish its 1–9 2020 Interim Report on Thursday 29 October 2020

CapMan Plc press release
22 October 2020 at 8.30 a.m. EEST

CapMan to publish its 1–9 2020 Interim Report on Thursday 29 October 2020

CapMan will publish its 1–9 2020 Interim Report on Thursday 29 October 2020 around 8.30 a.m. EET. The company will present the results for the review period over a webcast press conference starting at 10.00 a.m. EET accessible at https://capman.videosync.fi/2020-q3-results. The conference will be held in English. The report and presentation material will be available at CapMan’s website (https://www.capman.com/shareholders/financial-reports/).

Webcast participation does not require advance registration. Due to the covid-19 pandemic, we will not arrange an in-person press conference at our office.

For further information, please contact:
Linda Tierala, Director, Communications and IR, tel. +358 40 571 7895, linda.tierala@capman.com

Webcast:
29 October 2020 at 10.00 a.m. EET
https://capman.videosync.fi/2020-q3-results

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.

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Continued positive earnings trend and strong cash flows in the third quarter

Ratos

“EBITA in the business group increased by 28% in the third quarter of 2020. For the last 12-month period, EBITA amounted to SEK 1,669m, up 60%. Cash flow also remained strong and contributed to the continuing decline in leverage. As earnings levels also improve, Ratos’s leverage has fallen to 1.4x* in the third quarter of 2020, compared with 3.0x in the third quarter of 2019.

After the end of the period, an agreement was signed to divest Bisnode to Dun & Bradstreet. The divestment is a good deal for Ratos and reduces risk in the business group while freeing up capital. This enables us to step up the pace of our business plan through add-on and potential new acquisitions together with a continued focus on organic growth and margin growth. The divestment represents a major step in the transformation of Ratos to a business group focused on profitable growth.

Overall, I am very pleased with the performance of Ratos as a business group during the third quarter.”

Jonas Wiström, President and CEO of Ratos

Performance Ratos business group

  • Net sales for the Ratos business group increased 1% organically but decreased in total by 6%, mainly due to negative currency effects, and amounted to SEK 5,580m (5,951)
  • EBITA for the Ratos business group increased to SEK 426m (332)
  • Cash flow from operations for the Ratos business group increased to SEK 203m (-277)

Performance Ratos Group

  • Operating profit for the Ratos Group amounted to SEK 419m (832). Profit for the year-earlier period included a capital gain of SEK 487m from the sale of Ratos’s property.
  • Earnings per share after dilution, adjusted for non-recurring items, amounted to SEK 0.64 (0.18). Non-recurring items mainly relates to the sales process of Bisnode.
  • Reported earnings per share after dilution amounted to SEK 0.31 (1.70)
  • Net cash in the parent company totalled SEK 1,225m
  • The Board of Ratos proposes the reintroduction of a dividend for the full-year 2019 of SEK 0.65 per share (0.50). Ratos will repay the subsidies for temporary lay-offs received in Sweden linked to the Covid-19 pandemic.

Events after the end of the period

  • Ratos has signed an agreement to divest its holding in Bisnode to the company’s partner Dun & Bradstreet for an enterprise value of approximately SEK 7,200m, corresponding to a 13.8 multiple of EV/EBITA and an equity value of approximately SEK 3,900m. The capital gain is estimated at approximately SEK 2,000m. In addition, Ratos will receive a dividend from Bisnode during the fourth quarter 2020 amounting to SEK 175m.

*Net debt/EBITDA, excluding IFRS 16 and including Ratos’s parent company cash position.

A teleconference will be held at 9:00 a.m. CET today to present the earnings. The presentation will be held in English and will be available as an audiocast on the Ratos website, www.ratos.com

Link to audiocast: https://ratos-live.creo.se/i/75LsSKkqyGOEwcCKhlH7cg

Those who want to participate in the teleconference in connection with the presentation are welcome to call the numbers below. To ensure a successful connection to the conference call, call a few minutes before the start of the conference to register.

Telephone numbers:
UK: +44 33 3300 9264
SE: +46 8 505 583 57
US: +1 833 526 8398

Stockholm 22 October 2020
Jonas Wiström
President and CEO

For further information, visit www.ratos.com or contact:
Helene Gustafsson, Head of IR & Press, telephone: +46 70 868 40 50
E-mail: helene.gustafsson@ratos.com 
Jonas Wiström, President and CEO, telephone: +46 70 868 40 50
This is information that Ratos AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 7:00 a.m. CET on 22 October 2020.

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer & Technology and Industry. In total, the companies have SEK 38 billion in sales and EBITA of SEK 1.8 billion. Our business concept is to develop mid-sized companies headquartered in the Nordics that are or can become market leaders. We enable independent mid-sized 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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