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

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

August 31, 2021

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

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

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

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

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

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

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

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

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

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

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

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

About TX Group

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

About Ringier

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

About La Mobilière

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

About General Atlantic

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

Media Contacts

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

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

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

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

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Connected Capital leads 12M investment in SurePay

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

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

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

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

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

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

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

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

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

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

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

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EQT Private Equity to sell Zemax

eqt

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

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

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

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

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

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

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

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

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

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

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

About

About EQT
EQT is a purpose-driven global investment organization with more than EUR 71 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Zemax
Zemax’s industry-leading optical product design and simulation software, OpticStudio®, OpticsBuilder™, STAR and OpticsViewer™, helps optical, mechanical, and manufacturing engineering teams turn their ideas into reality. Standardizing on Zemax software reduces design iterations and repeated prototypes, speeding time to market and reducing development costs. Zemax is headquartered in Kirkland, Washington and has offices in the UK, Germany, Japan, Taiwan, and China.

More info: www.zemax.com

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Serrala secures strategic investment from Hg

HG Capital

Serrala secures strategic investment from Hg to continue its growth as a leading global financial automation and B2B payments software provider

Hamburg, Germany and London, United Kingdom. 26 August 2021 – Serrala, a fast-growing global financial automation and B2B payments software company, today announced that it has secured a majority investment from Hg, a leading global software and services investor.

Following the transaction, Serrala’s CEO Sven Lindemann and existing investor, Waterland, will continue to support the business and remain as significant minority shareholders in the business.

Founded in 1984 and based in Hamburg, Germany, Serrala provides software solutions for financial automation and B2B payments to medium-sized to large Enterprise customers globally, with a strong footprint across Europe and the US.

Serrala enables the ‘Office of the CFO’ to automate and optimize all processes for corporate payments and cash management to save costs, minimize fraud risks and gain real-time insights into their world of payments. It is a fast-growing company with global offices across North America, Europe and Asia and over 700 employees. Today, Serrala drives innovation for more than 2,800 customers including more than 100 of the S&P500 and around two thirds of companies listed in the DAX.

For Hg this investment follows two decades of experience in growing tax & accounting technology businesses across Europe and North America, and also extends Hg’s footprint in software for the ‘Office of the CFO’, joining Hg’s recent investments in Prophix and insightsoftware, as well as Hg’s long-standing backing of Sovos. Together with Serrala, these complementary businesses all improve the efficiency of financial and tax management for corporations globally.

“Serrala is an ambitious, global financial software business, offering truly differentiated SaaS solutions into the ‘Office of the CFO’. Hg has been investing in this sector for decades and recognises Serrala’s huge potential to continue this growth trajectory. We’re excited to be backing Sven and his team, who have successfully grown and internationalized the firm over the last few years, through impressive organic growth and strategic acquisitions.”

Stefan Margolis, Partner at Hg

“Serrala’s innovative solutions are critical as businesses look to invest in automating their finance processes for both inbound and outbound payments. Building on our strong organic and inorganic growth, as well as our investments in cloud technology, we are proud to welcome Hg to the team for this chapter of our growth story. As a specialist software investor, with a track record of growing technology businesses, they will work alongside the Serrala team to take the business to the next level.”

Sven Lindemann, CEO, Serrala

The terms of the transaction have not been disclosed and completion is subject to customary closing conditions.

Media Contacts:

Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Serrala
Marc-Oliver Prier
m.prier@serrala.com
+49 152 0239 8345

About Serrala
Serrala is a global financial automation and B2B payments software company creating more secure payment capabilities worldwide for enterprises of all sizes. We are a leading fintech pushing the boundaries of finance software by integrating finance and treasury into one central ecosystem for corporate payments
We support our customers automating and digitizing their financial processes to save costs, minimize fraud risks and gain real-time insights into their world of payments.
Serrala is a fast-growing innovator with more than 2,800 global customers including more than 100 of the S&P500 companies and more than 700 employees.
Watch this video or visit serrala.com

About Hg
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $30 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 50,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information

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Fintech Serrala extends shareholder basis: Hg to join founder family, management and Waterland Private Equity as majority owner

Waterland

Serrala, a globally leading software specialist for the automation of financial processes and B2B payments, positions itself for further growth by strengthening its shareholder base with an additional, new majority investor. Waterland Private Equity (“Waterland”), who has closely supported Serrala’s strong expansion over the past five years, is selling a portion of its shares to the software investor Hg. Hg will be the new majority shareholder, while Waterland as well as Serrala’s founder family and management team will retain significant stakes in the company. Backed by this robust and experienced shareholder group, the fintech intends to expand its cloud-based services further and secure additional market share in the sectors of financial automation and B2B payments. Further financial details of the transaction, which is still subject to the usual regulatory approvals, were not disclosed.

As a global software provider, Serrala automates, optimizes and digitizes financial processes for businesses, enabling them to save costs, minimize risks and gain additional process transparency using real-time data. Through innovative solutions, Serrala facilitates the automation of incoming and outgoing payments and invoices as well as cash management processes. Serrala stands for flexible, scalable solutions as well as secure global payment capabilities for businesses of all sizes.

Waterland Private Equity joined forces with Serrala’s founder family Lindemann in 2016 to accelerate the company’s growth. Since then, Serrala has evolved from a German SME into a global B2B fintech with offices in Europe, North America and Asia. The extensive investments made in cooperation with Waterland expanded both the functional range of the firm’s software offering and the technological portfolio, adding for instance also cloud solutions, such that today Serrala provides a unique platform that covers comprehensively the digital “office of the CFO”, in which financial processes and payments are automated and optimized. Together with Hg, an investment firm specializing in the software sector, Serrala will address new growth potential as well as drive forward further investments and expansions.

“During our five years of working with Waterland, we have achieved so much – from expanding the functional range of our software offering over extending the technological portfolio to include cloud solutions to driving forward our internationalization significantly. For that, Waterland’s experience and expertise, both with regards to organic growth – particularly in the US and with our Center of Excellence in India – as well as in regard to acquisitions, were key to the success of by now more than 700 employees and 2,800 clients. For our next growth phase, we aim to continue our current trajectory and invest in innovations and international expansion in cooperation with Waterland and Hg”, says Sven Lindemann, CEO of Serrala.

“Since the beginning of our partnership with Sven Lindemann and the Serrala team, the company has developed from a hidden champion to a global market leader. Today, Serrala is known as a leading software specialist for automating financial processes and B2B payments, both for SMEs as well as blue chip clients. During our partnership, we were able to acquire five companies, which have strategically increased Serrala’s geographic presence as well as its software portfolio. We are very proud of this development and are looking forward to our joint growth journey in the future”, says Dr. Gregor Hengst, Partner at Waterland Private Equity.

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L Catterton signs definitive agreement to sell StriVectin to Crown Laboratories.

LCatterton

JOHNSON CITY, Tenn. and GREENWICH, Conn., Aug. 26, 2021 /PRNewswire/ — Crown Laboratories, (“Crown”), a leading, fully integrated, global skincare company and a Hildred Capital Management LLC (“Hildred”) portfolio company, and L Catterton, the largest global consumer-focused private equity firm, today announced that they have entered into a definitive agreement under which Crown will acquire StriVectin. The transaction is expected to close by mid-September 2021 and is subject to regulatory approvals and other customary closing conditions. Terms of the transaction were not disclosed. Other equity sponsors in Crown include Greenspring Associates and Montreux Growth Partners.

Upon completion of the transaction, StriVectin’s products will become part of Crown’s new Premium Skincare Division and will operate as a wholly owned subsidiary of Crown Laboratories. StriVectin’s President, Cori Aleardi, will become President and Chief Commercial Officer of Crown and will join the Crown Executive Leadership Team. StriVectin will continue to be based in New York City.

“Partnering with StriVectin is an exciting and significant next step in diversifying and scaling our organization,” said Jeff Bedard, Crown Laboratories CEO. “StriVectin has assembled a truly impressive team, a proven business model, and a premier product portfolio that is beloved by its customers. We are particularly excited that Cori will be assuming a senior executive role at Crown, helping to guide the merged businesses, and we think the combined talents of both teams will enable us to accelerate growth across all our product areas. The addition of StriVectin to Crown’s portfolio enriches our focus on partnering with our customers throughout their lifetime skin health journey.”

“We are excited to build on our success in this next chapter as StriVectin continues to redefine the science of skincare and changes the way people feel about their skin,” added Cori Aleardi, President of StriVectin. “As part of Crown, StriVectin will benefit from additional resources to expand infrastructure, support future growth, and deliver on our commitment to provide next generation skincare to every generation and put the science of skin health first.”

The acquisition strengthens Crown’s overall skincare product portfolio:

  • Crown Aesthetics, maker of SkinPen®, the first FDA-cleared microneedling device.
  • Crown Therapeutics, maker of PanOxyl®, the #1 acne wash; Sarna®, the #1 Dermatologist recommended topical anti-itch brand and National Seal of Acceptance from the NEA; Blue Lizard® Australian Sunscreen, the #1 Pediatrician recommended mineral-based sunscreen brand.
  • NEW Crown Premium Skincare will include StriVectin, comprised of a broad range of award-winning skincare solutions for all skin types, tones, and ages, including TL Advanced Tightening Neck Cream Plus, the #1 selling cream exclusively for the neck and décolleté, and Vita Liberata, a multiple award-winning sunless tanning brand

“On behalf of Hildred, Greenspring and Montreux, I am delighted to bring Crown and StriVectin together to create a world-class, comprehensive premium skincare portfolio and to welcome Cori and her colleagues to our team,” said David Solomon, Hildred Managing Partner and Chairman of the Board for Crown Laboratories. “Both of these companies are generating impressive growth, and the opportunity for complementary growth between the two organizations is tremendous. The StriVectin portfolio complements Crown’s current skincare offering and expands the combined organization’s potential to grow and drive further product development, which is the heartbeat of any organization.”

“When L Catterton invested in StriVectin in 2009, we saw a fantastic opportunity to transform a niche product into an iconic premium skincare brand, changing the game in beauty with a scientific approach to formulation,” said Avik Pramanik, a Partner of L Catterton’s Flagship Buyout Fund. “Working together with the talented management team, we established StriVectin as the largest independent brand in the U.S. prestige skincare market with broad geographic and multi-generational appeal. We are pleased to have played a role in their dramatic growth and are confident that Crown is the right partner for StriVectin as they strive to continue their strong growth and reach their next level of success.”

“L Catterton’s support of StriVectin showcases the firm’s expertise as a brand-builder,” said Joan Malloy, Chief Executive Officer of StriVectin. “They were true partners throughout the brand journey, bringing strategic, operational, and industry expertise to foster innovation, growth, and market expansion.”

Launched in 2002, StriVectin is ranked the most effective anti-aging skincare brand by consumers. L Catterton has partnered with management to drive significant growth and value creation through a strategic plan focused on marketing and operational enhancements. Together with L Catterton, StriVectin:

  • Expanded its consumer base to include all age demographics, rapidly attracting millennials, while growing its large and highly loyal Gen X and baby boomer base;
  • Drove continuous innovation, powered by a barrier-breaking scientific approach, resulting in a highly efficacious, expertly calibrated, and 100% clinically tested product portfolio;
  • Transformed its distribution into a truly omni-channel strategy, allowing the brand to be available wherever the prestige consumer shops;
  • Prioritized digital marketing to drive awareness and trial, resulting in a three-year retail sales compound annual growth rate of over 20%; and
  • Drove operational efficiency to significantly enhance margins and drive profitability.

L Catterton has significant experience investing globally in the beauty and personal care category. Current and past investments include Function of Beauty, IL MAKIAGE, TULA, Steiner Leisure, Intercos, Marubi, S.p.A, Elemis, and many others.

Lowenstein Sandler, LLP is acting as legal advisor to Crown Laboratories and Hildred. Hayfin Capital Management, LLP is providing debt financing in connection with the transaction. Moelis & Company LLC is acting as exclusive financial advisor to StriVectin. Gibson, Dunn & Crutcher LLP is acting as legal advisor to StriVectin and L Catterton.

About Crown Laboratories

Crown, a privately held, fully integrated global skincare company, is committed to developing and providing a diverse portfolio of aesthetic, premium beauty, and therapeutic skincare products that improve the quality of life for its customers. An innovative company focused on skin science for life, Crown’s unyielding pursuit of delivering therapeutic excellence and enhanced patient outcomes is why it has become a leader in Dermatology and Aesthetics. Crown has been listed on the Inc. 5000 Fastest Growing Privately Held Companies List for eight years and has expanded its distribution to over 38 countries. For more information, visit www.crownlaboratories.com.

About StriVectin®

StriVectin, the #1 independent prestige skincare company in the U.S., empowers people to outsmart aging with our disruptive science and targeted solutions for aging and changing skin. Backed by over 35 years of clinical research, our proprietary NIA-114 Technology™ is clinically proven to strengthen the skin barrier and supercharge the efficacy of other performance ingredients to visibly transform skin. The results are real, visible and validated with independent clinical studies on every formula – including the groundbreaking SD Advanced™ Intensive Concentrate for Wrinkles & Stretch Marks and the #1 selling cream in the U.S. exclusively for the neck and décolleté, TL Advanced™. Cruelty Free, Paraben Free and Suitable for All Skin Types, StriVectin products are sold through department stores and specialty retailers in North America, Europe and Asia. The company maintains corporate offices in New York, NY. For more information, visit www.strivectin.com.

About Hildred Capital Management

Hildred is a New York-based private equity investment firm that pursues growth equity investments in lower middle market healthcare companies with leading products, technologies and services. Hildred focuses on opportunities to create value from earnings growth, operational improvements and multiple expansion in companies with revenues of $0 to $100 million. Areas with attractive fundamentals where Hildred may invest include the following healthcare subsectors: healthcare services, consumer products, information technology, medical devices, and pharmaceuticals; including the related industries that surround these healthcare subsectors. For more information, visit www.hildredcapital.com.

About L Catterton

With approximately $30 billion of equity capital across its fund strategies and 17 offices around the world, L Catterton is the largest global consumer-focused private equity firm. L Catterton’s team of nearly 200 investment and operating professionals partners with management teams around the world to implement strategic plans to foster growth, leveraging deep category insight, operational excellence, and a broad partnership network. Since 19

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Eurazeo enters into exclusive discussions to sell its stake in SEQENS

Eurazeo

Paris, August 26, 2021

Eurazeo today announced that it has entered into exclusive discussions to sell its stake in Seqens to SK Capital and to the company’s existing French shareholders: Ardian, Mérieux Equity Partners and Eximium. Nov Santé Actions Non Cotées, the fund launched at the initiative of the French Insurance Federation (FFA) and Caisse des Dépôts under their sustainable recovery investment program for France (“Assureurs – Caisse des Dépôts Relance Durable France”) and managed by Eurazeo, would also invest in Seqens. Bpifrance is currently exploring the possibility of co-investing with SK Capital.
The deal is expected to close by the end of 2021, subject to the fulfillment of the standard conditions precedent for this type of transaction. Through the sale of its Seqens stake, Eurazeo would make a 1.8x return on its initial investment, with potential earnouts that could result in a multiple of 2.0x, depending on the company’s future performance.

Since its acquisition in June 2016 and with the support and guidance of Eurazeo and its partners, Seqens has cemented its status as an integrated global player in pharmaceutical solutions and specialty ingredients, generating €1 billion in annual revenue, with 19 manufacturing sites, seven R&D centers, and nearly 3,000 employees on three continents. During this period, Seqens has also expanded its technological and industrial footprint, investing more than €400 million across all its manufacturing sites and completing three major acquisitions: PCAS in France, Finland and Canada; Chemoxy in the United Kingdom; and PCI Synthesis in the United States.

Marc Frappier, Member of Eurazeo Executive Board and Managing Partner, Mid-Large Buyout commented as follows:
“Over the last five years, Eurazeo has supported Seqens in its expansion efforts, helping the company become an integrated global player in pharmaceutical solutions. We are delighted with this partnership involving major French and foreign investors, which will allow Seqens to continue consolidating its position as a French and European champion with global ambitions. We are also very satisfied with the constructive dialogue and excellent cooperation we have enjoyed with Ardian, Mérieux Equity Partners and Eximium throughout this period.”

ilfried Piskula, Managing Director, Mid-Large Buyout, added:
“This partnership has taken shape thanks to the strategic repositioning accomplished in these last few years. We are proud to have helped the teams at Seqens deliver on a shared vision and successfully achieve significant transformation, in particular through key acquisitions, investments in R&D and innovative technologies, as well as operational improvements, which today allow Seqens to aim for global leadership in the coming years.”

ABOUT EURAZEO
Eurazeo is a leading global investment group, with a diversified portfolio of €25.6 billion in assets under management, including €17.8 billion from third parties, invested in 450 companies. With its considerable private equity, real estate and private debt expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

 

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HEAD OF COMMUNICATIONS vchristnacht@eurazeo.com
+33 (0)1 44 15 76 44
Pierre Bernardin
HEAD OF INVESTOR RELATIONS pbernardin@eurazeo.com
+33 (0)1 44 15 16 76
PRESS CONTACT
David Sturken
MAITLAND/AMO dsturken@maitland.co.uk
+44 (0)7990 595 913

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Riskalyze Recapitalised by Hg

HG Capital

Industry-leading, risk-centric wealth management platform gains backing of one of the world’s leading software investors

Founder and CEO Aaron Klein to continue leading the firm

AUBURN, CALIFORNIA, USA and LONDON, UNITED KINGDOM — August 25th, 2021 – Riskalyze, Inc., an industry-leading risk-centric wealth management platform serving financial advisors, enterprises, and asset managers; and Hg, a leading global investor in software and services, today announced a definitive agreement for Hg to acquire a majority interest in Riskalyze. Terms of the deal are not disclosed.

Riskalyze’s industry-leading client and portfolio risk technology is rapidly emerging as an industry standard for advisor, client and portfolio risk analytics across the US wealth management ecosystem. Today, Riskalyze’s platform supports tens of thousands of financial advisors who use it to manage millions of client accounts with over $400 billion in assets.

The transaction marks a major inflection point for the fast-growing company, enabling the business to continue to invest in its strategy to serve the advisor desktop, providing risk, portfolio analytics, proposal, trading and compliance solutions to advisors and wealth management enterprises. The company has added thousands of advisors to the platform in the last 12 months, and has signed key enterprise clients such as Cetera, Atria Wealth, Grove Point, Hightower, Boston Private and Private Advisor Group.

Riskalyze Co-Founder Aaron Klein will reinvest the majority of his holdings into the recapitalized firm, and will continue to lead the company as CEO and a member of the Board of Directors.

“We are thrilled to welcome Hg to Team Riskalyze and are excited to have found the perfect partner to write this next chapter of our story. When we set out on this journey a decade ago, we quickly came to realize that we weren’t just building a company, but a movement – and the tens of thousands of advisors who comprise the Fearless Investing Movement took a big step forward today into a future of innovation and growth.”

Aaron Klein, CEO, Riskalyze

For Hg, the deal represents an opportunity to support a leading software as a service (SaaS) platform and to build and scale a strong wealth management technology business in the United States. Hg is a software and services investor with extensive experience in the global fintech sector, having invested in over 10 fintech leaders in just over five years and investing over $1 billion in the sector to date. Hg has a track record of partnering with founder teams of high-quality and scalable technology solutions to the financial advisor ecosystem. This scale and experience will provide Riskalyze with ample access to additional capital and expertise as needed to complete future acquisitions or to support organic growth.

“Riskalyze has seen significant momentum in the last few years. The team have successfully established themselves as providing a best-in-class SaaS tool that solves real business challenges in a sector still seeing increasing tech adoption. Riskalyze’s software enables advisors to participate in key trends in wealth management and offer more holistic engagement with their clients. We’re delighted to join the team and support the momentum of a modern software business of scale, backed by a visionary founder CEO and strong supporting team.”

Max Dewez, Director at Hg in New York

Riskalyze was advised by Financial Technology Partners as financial advisor and Morris Manning & Martin as legal counsel. Hg was advised by Skadden Arps as legal counsel. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close before the end of September. Hg’s Sebastien Briens, Max Dewez and Richard Earnshaw will join the Board after closing. The company expects to announce additional board appointments in the near future.

Media Contacts:

StreetCred PR (Riskalyze)

Allie Zendrian
allie@streetcredpr.com
516-581-7202

Jason Lahita
jason@streetcredpr.com
973-460-7837

Hg

Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401

Alex Yankus and Harry Mayfield (Brunswick, USA)
+1 917 818 5204

About Riskalyze

Riskalyze is the company that invented the Risk Number®, which powers the world’s first Risk Alignment Platform and was built on top of a Nobel Prize-winning academic framework. Advisors, broker-dealers, RIAs and asset managers use the Riskalyze platform to create alignment between clients and portfolios, leverage sophisticated analytics to increase the quality of their advice, automate trading and client account management, and access world-class models and research in the Riskalyze Partner Store — all with the mission of empowering the world to invest fearlessly. To learn more, visit www.riskalyze.com.

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialization and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 50,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

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Waterland portfolio company Enreach acquires cloud software provider DSD Europe

Waterland

With support from Waterland Private Equity (“Waterland”), Enreach, a fast-growing provider of Unified Communications Solutions (UCaaS) active throughout Europe, acquires the Dutch cloud software provider and Microsoft partner DSD Europe and its sister company CloudLand (“DSD”), thereby continuing its long-term buy-&-build strategy. Through the partnership, Enreach acquires additional expertise and reach for equipping digital workplaces with Microsoft software solutions.

DSD, founded in 2009, is a fast-growing provider of IT, security and other cloud products and services. Through its market-leading cloud marketplace, DSD’s services enable more than 5,000 active re-sellers in Europe to easily and quickly acquire, activate and manage various cloud services and software solutions with a focus on Microsoft cloud productivity solutions.

Enreach was formed in 2018 with Waterland’s support from the merger of the companies Swyx (Germany), Voiceworks (Netherlands) and Centile Telecom Applications, rebranded to Enreach for Service Providers (France), each of them leading in their respective markets. Waterland has since supported Enreach’s growth, which included targeted acquisitions of best-in-class technologies and their subsequent roll-out across the Enreach platform as well as now fifteen international add-on acquisitions, five of which in the current year alone.

The partnership with DSD is the next step in Enreach’s long-term buy-&-build strategy to become a pan-European market leader in unified communications and cloud products & services.

“As an established and well-known own-IP cloud marketplace, re-sellers across Europe rely on our expertise and product portfolio. For some time, we have been looking for a strong player in the market to jointly drive our vision of digital transformation. We are convinced that with Enreach, we are ideally positioned for further growth”, says Thijs van de Moosdijk, CEO of DSD.

“With support from Waterland, we have been able to accelerate our growth even further in recent months, and for our upcoming steps, we aim to expand our service portfolio with a modern one-stop shop offering for all digital transformation requirements. With DSD, the chemistry was there right from the start and by partnering with its team of professionals, we are a big step closer to our goal of becoming the leading provider of integrated unified communications and cloud productivity solutions for the European market”, says Stijn Nijhuis, CEO of Enreach.

“Enreach has achieved a very positive development over the past few years. DSD is very well positioned in the market and is one of the first choices for re-sellers throughout Europe when it comes to software and cloud solutions. Consequently, this acquisition opens up new, attractive synergies for both companies, particularly in the field of cross-selling Enreach’s own-IP unified communications solutions as well as Microsoft’s cloud productivity solutions – another important building block in our long-term buy-&-build strategy”, says Dr. Carsten Rahlfs, Managing Partner at Waterland.

Waterland has extensive experience in the fields of digitalization and integration of ICT service providers through its investments in several European countries. In the German-speaking region, Waterland has already invested in companies such as netgo (IT system house), Serrala Group (payment software), Tineo (enterprise IT) and Skaylink (managed enterprise service platform).

Categories: News

MMIT and Evaluate Join Forces to Offer an End-to-End View of the Pharmaceutical Market Landscape

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HG Capital

By combining their technology, data and expertise, MMIT and Evaluate will become a $1.6 billion global pharma commercial intelligence provider

Yardley, Pa.-based Managed Markets Insight & Technology (MMIT), LLC, the trusted go-to-market partner solely focused on solving the “what and why” of market access, has joined forces with London-based Evaluate, a leading provider of commercial intelligence and predictive analytics to the pharmaceutical industry. This newly merged organization will offer customers a unique and comprehensive data solution offering both analytical and predictive data insights across the entire drug life cycle.

“MMIT and Evaluate share a mission of helping patients get access to lifesaving therapies. As customers’ decision-making processes become increasingly more centralized, we couldn’t be more thrilled to come together and offer a comprehensive solution for bringing new drugs to market and to patients.”

Mike Gallup, CEO of MMIT

The two organizations will become a leading pharma commercial intelligence provider—one that aims to inform and support customers from pipeline to prescription. Combining Evaluate’s data-driven understanding of commercial opportunities with MMIT’s insight into patient coverage will offer customers an end-to-end view of the pharmaceutical market landscape, allowing them to enhance high-value strategic portfolio decisions, assess unmet needs, evaluate barriers to access, and develop pricing strategies and value propositions to ensure that treatments get in the hands of patients.

“It’s an exciting time for our new combined organization. Evaluate and MMIT have a shared vision to enhance patient outcomes by helping them access innovative treatments faster. Together, we are better placed to help our customers identify and evaluate strategic, valuable R&D investments and smooth access to therapies for those who need it the most—the patients.”

Deborah Kobewka, Evaluate CEO

Deborah Kobewka will continue in her role as Evaluate’s CEO, while MMIT’s CEO, Mike Gallup, will be CEO of the combined entity. Upon completion of the merger, MMIT’s equity partner, Welsh, Carson, Anderson & Stowe (WCAS), and Evaluate’s equity partner, Hg, will share joint control of the combined business.

“There are enormous growth opportunities ahead for this combined business with over 1,300 global customers, highly complementary solutions and differentiated offerings in the market. We are delighted to continue partnering with the management team at MMIT while welcoming the team from Evaluate and our new partner, Hg.”

Ed Sobol, General Partner at WCAS

“This combination brings together two high-quality businesses and teams to form a new global player in commercial pharma intelligence, delivering better outcomes to the entire healthcare ecosystem and helping patients access treatments more efficiently. We’re proud of what we’ve achieved alongside the Evaluate team to date and are excited to partner with WCAS and MMIT in supporting the accelerated growth of this new combined business.”

David Issott, Partner at Hg

The terms of the transaction have not been disclosed and completion is subject to customary closing conditions.

About MMIT
For nearly two decades, MMIT has been solely focused on solving the “what and why” of market access, and has been a trusted, go-to-market partner. We believe that patients who need lifesaving treatments shouldn’t face delays because accessing drugs can be confusing. As the leading provider of market access data, analytics and insights, our expert teams of clinicians, data specialists and market researchers provide clarity and confidence so that our clients can make better decisions.

Divisions of MMIT include AIS Health, creator of the Directory of Health Plans and leading healthcare publications; Zitter Health Insights, provider of market access insights and solutions for specialty drugs; RJ Health, the market leader in pricing and coding solutions for infusion drugs covered under the medical benefit, and The Dedham Group, the preeminent U.S. market access oncology and specialty therapeutics consultancy. For more information about MMIT, visit mmitnetwork.com and follow us on LinkedIn.

About Evaluate
Since 1996, Evaluate has provided the life sciences industry with the data, insight and intelligence to facilitate confident decision making on high-value investments in treatments and markets. We enable our clients to embed our proprietary & industry data into their workflows, tools and processes so they can work more effectively and efficiently. For more information about Evaluate, visit www.evaluate.com and follow us on LinkedIn.

About Welsh, Carson, Anderson & Stowe
WCAS is a leading U.S. private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the Firm’s strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions. WCAS has raised and managed funds totalling over $27 billion of committed capital. For more information, please visit www.wcas.com

About Hg

Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 50,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.

Categories: News