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PaymentCloud secures $10 million credit facility from Espresso Capital

Encino, Calif., — June 24, 2021 — Espresso Capital announced today that it has provided a $10 million credit facility to PaymentCloud, a leading provider of credit card processing solutions for retail, eCommerce, and non-traditional businesses. The company will use the capital to fuel its continued growth.

“We’re excited to be partnering with Espresso to access the capital we need to expand our business,” says PaymentCloud CEO Shawn Silver. “There are so many opportunities in the payments space right now that we can take advantage of. With the credit facility from Espresso, we’ll be able to grow our core business by making strategic investments in marketing and product development, expanding our team with some important new hires, and further enhancing our overall position.”

The financing marks the first time PaymentCloud has raised outside capital. “Although we’ll eventually look to raise equity, we have so much growth potential right now that we didn’t see any reason for dilution to fund additional growth,” notes Silver. “Venture debt was the obvious choice for a successful business like ours.” Expected growth was a contributing factor to PaymentCloud’s decision to expand its workforce and office space in recent months.

“The payment processing industry is evolving quickly and growing fast,” says Espresso Executive Director, Steven Michau. “Shawn and his team have built a great company with a model that works and that’s both profitable and predictable. We see a lot of upside potential for the business as they continue to invest for growth.”

Recognized as No. 295 on the national Inc. 5000 list of Fastest Growing Private Companies in 2020, PaymentCloud is quickly establishing itself as a maverick in the payments industry. The company was recently shortlisted for fastest-growing companies in the Los Angeles and San Fernando Valley areas, as well as by the Financial Times. The company has grown by more than 1,500 percent over the past five years.

“Working with Espresso has been a great experience,” Silver continues. “It’s an excellent team and one that instantly made us feel comfortable. We knew we were in good hands. We’ll definitely expand our partnership over time as we look to further grow the business both organically and through strategic acquisitions.”

About PaymentCloud

With 80+ employees newly upgraded to a 17,000-square-foot space in Encino, California, this dynamic group of young payment professionals facilitate credit card processing for merchants spanning a multitude of industries. An easy application, transparent approval process, and hundreds of integration options set PaymentCloud apart. While on the partnership side of things, PaymentCloud’s dedicated department works with over 80 percent of top digital ISOs that utilize its hard-to-place program for its seamless submission process, efficient onboarding, and management tools at just the click of a button.

About Espresso Capital

Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 290 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.

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The Apax Digital Fund invests in Revolution Prep

Apax Digital
Following an unprecedented year of transformation in instructional delivery, Revolution Prep receives growth investment to expand its offering and increase access to world-class online tutoring

Revolution Prep (or the “Company”), a leading national provider of online academic tutoring and test preparation services, today announced that the Apax Digital Fund (“ADF”) will invest in the Company. The new investment will help Revolution Prep further enhance its online learning platform and expand its offering to make professional tutors available to more students in the United States and beyond.

Revolution Prep pioneered the use of technology to deliver high-quality tutoring tailored to individual student needs, with the goal of providing an engaging and consistently excellent student experience. Over 20 years in business, Revolution Prep has helped more than 1 million families in achieving academic success, helping improve grades and building confidence in students. Revolution Prep is distinguished by its community of professional tutors who are all full-time employees, recruited through a highly selective screening process and receiving hundreds of hours of continuous training.

Revolution Prep has a strong social mission, with a longstanding commitment to serve all families regardless of ability to pay. The Company’s scalable geographic model means they can reach communities that otherwise would not have had access to the same breadth of expertise and range of experienced tutors. Integrity and fairness are core Company values, rooted in a belief that doing the right thing for students matters more than a grade or score.

With its industry-leading digital delivery model and access to the top tutors in the country, Revolution Prep was well-positioned to support partner schools, families and students on their academic journeys as the Covid-19 pandemic took hold, accelerating the shift to online learning.

Co-founders Ramit Varma and Jake Neuberg said, “Revolution Prep has always believed in building capacity, competence, and confidence in students, preparing them not just for the next test but for the next academic achievement. We are very proud of the work that Matt and the team have done to help position us for the future.  Apax is the perfect partner for Revolution Prep’s next chapter, and we are excited to remain actively involved on the Board of Directors.”

Matt Kirchner, CEO of Revolution Prep, added: “The pandemic has accelerated the shift from traditional to online learning and we’re continuing to see strong demand even as society is re-opening. The attractiveness of on-demand access to professional tutors that can work around students’ schedules will only continue and we are thrilled to partner with Apax Digital on the next stage of our journey. Their investment will support an acceleration of our key growth priorities, including scaling up the more affordable small group tutoring format and the strategic expansion into the middle school tutoring segment, supporting families earlier in their academic journeys.”

“As suggested by its name, Revolution Prep is truly revolutionizing the way students and schools access online learning. Their cutting-edge technology platform, longstanding partnerships with schools, and the breadth and expertise of their tutors are helping students across the U.S. improve their grades and position them to access and excel in higher education,” said Marcelo Gigliani, Managing Partner of Apax Digital. “Revolution Prep is a stand-out player with a reputation for quality and results in a market that has rapidly moved online,” added Zach Fuchs, Principal at Apax Digital. “We look forward to supporting Matt and his team as they continue to establish Revolution Prep as the premier brand in online tutoring.”

Education technology industry veteran Scott Kirkpatrick will continue to advise the Company on its Board of Directors. Kirkpatrick currently serves as CEO of the educational content platform BrainPOP. He formerly served as Executive Vice President of HMH, President of The Princeton Review until its acquisition by IAC, and President and COO of General Assembly until its acquisition by the Adecco Group.

Lincoln International served as exclusive financial adviser to Revolution Prep in connection with the transaction.

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Aircall, now valued above $1bn, raises $120M in Series D funding, led by Goldman Sachs Asset Management

DTCP

Funding will advance Aircall’s market leadership in Cloud Communications industry

NEW YORK, NY, June 23rd, 2021

  • Launched in 2014 in France, Aircall is a cloud-based phone system and call center software that integrates seamlessly with popular CRM and helpdesk tools, such as Salesforce, Hubspot, etc.
  • Including its Series D, Aircall has now raised more than $226 million.
  • This new financing will allow Aircall to fulfill its mission of trailblazing a new era for cloud communications.

Aircall, a cloud-based voice platform helping companies across the globe manage millions of customer support and sales calls every day, today announced it has raised $120 million in a series D funding round, bringing the company’s total valuation to more than $1 billion. The funding round was led by the Growth Equity business within Goldman Sachs Asset Management, and joined by most of Aircall’s current investors (DTCP, eFounders, Draper Esprit, Adam Street Partners, NextWorldCap, Gaia), showing their renewed trust in the company’s vision.

Aircall was founded in 2014 with the belief that traditional business phone systems were hard to manage, siloed, and required heavy implementation costs and time. In an increasingly virtual world, businesses were lacking an easy-to-use solution that could integrate with other critical business applications, and support the communications needs of a dispersed and flexible workforce.

Over the past year, remote workforces accelerated digital transformation for companies of all sizes and, at the same time, their customers increased their expectations around personalized and convenient service. Aircall helps businesses meet those objectives by integrating its cloud-based solution into leading business softwares like Salesforce, Hubspot, Zendesk, Slack, Intercom and many others. This allows businesses to streamline workflows, providing more efficiency for their teams with better visibility, data and insights into their customers’ needs and their teams’ performances. Ultimately, the solution allows personalized experiences for their customers. Aircall was built to empower any professional to have richer conversations, and to allow the phone channel to be accessible, transparent, and collaborative.

Christian Resch, Managing Director at Goldman Sachs, said: “The past 12 months have been a catalyst for Aircall’s cloud based SaaS communication solution. In a hybrid work environment, users are looking to Aircall to provide an easy to use experience that is highly integrated into their workflows, thereby making the most out of every customer interaction. We are very excited to partner with Aircall, as the company looks to accelerate its growth and expand globally.”

Kirk Lepke, Executive Director at Goldman Sachs, added: “We have been following Aircall’s journey for some time and are delighted to be partnering with Olivier and the Aircall team to lead the Series D. The company has tremendous momentum within a huge category and a differentiated product strategy that will sustain significant growth for many years to come.”

Despite the challenges this past year has brought, Aircall achieved record-breaking growth across its business. The company saw more than 65 percent total customer growth year over year, and now has more than 8,500 customers worldwide. Aircall’s development relies strongly on internationalization, with more than a third of revenue generated in the United States. With offices in New York, Paris, Sydney and Madrid, Aircall recently passed the 450 employee mark and plans to recruit more than 260 new employees by the end of the year.

With this new funding round, Aircall will invest in the following:

  • Enrich its app ecosystem, specifically with new integrations covering all use cases, from e-commerce to financial services, Sales, Support, etc.
  • Expand globally, with new European offices in London and Berlin, and deeper investments in North America and APAC. Aircall plans to recruit more customer-facing teams to come closer to the customer needs, and to form strong partnerships, including with channels and resellers.
  • Partner with major telecommunications companies to bring its technology to every professional around the world, by leveraging local networks expertise.
  • Improve technology with new AI capabilities, additional productivity features for call centers: transcription & speech analytics for greater depth of productivity features for sales and support. Aircall will also enhance infrastructure capacities by providing additional points of presence to support local usage, while continuing to deliver additional capacity at scale, and provide a global standard of high quality for voice.

“Since the beginning of Aircall, we’ve helped thousands of companies to enrich their customer experience through voice channels, with more empathy than ever in the past year. We also witnessed an increasing demand for visibility and data about teams and performances.“ said Olivier Pailhes, co-founder and CEO of Aircall. “Now that hybrid, on-site or remote teams are likely here to stay, we’ll continue to work to achieve our vision, and empower every professional to have richer conversations. With that in mind, the investment by Goldman Sachs, and the renewed trust of our current investors validates this vision.”

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About Aircall

Aircall is the phone system for modern business. An entirely cloud-based voice platform that integrates seamlessly with popular productivity and helpdesk tools. Aircall was built to make phone support as easy to manage – accessible, transparent, and collaborative.

Aircall believes that voice is the most powerful way to communicate with customers, prospects, candidates, and colleagues. It is designed to enable delightful moments of human connection. Aircall was founded in 2014 and has raised over $226 million in funding. With offices in New York, Paris, Sydney, and Madrid, the company currently has over 450+ employees.

https://aircall.io/

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WorkWave launches as standalone portfolio company following separation from IFS and announces transformational add-ons

eqt
  • Previously part of IFS, WorkWave provides software solutions for field service management serving small-to-medium sized businesses with a particular stronghold in the US pest control industry
  • WorkWave announces the completion of two transformational add-on acquisitions in the US, Real Green and Slingshot, to further strengthen its leadership position in asset-light field service management software
  • EQT and TA Associates will leverage their strong sector experience, global platforms and extensive advisory networks to support WorkWave’s accelerated growth agenda as a standalone portfolio company

EQT is pleased to announce that WorkWave (the “Company”) will become a standalone portfolio company of the EQT VIII and EQT IX funds (“EQT Private Equity”) following its separation from IFS, a global provider of enterprise software focused on the moment of service.

Headquartered in Holmdel, New Jersey, WorkWave is a frontrunning software solutions provider for the field service management (FSM) industry and serves verticals including the green industry, cleaning & janitorial, and route management with a particular stronghold in the US pest control market. WorkWave was originally acquired by IFS, an EQT Private Equity and TA Associates portfolio company, in 2017 and since then, has completed several strategic initiatives, including strengthening its product platform and launching a highly appreciated payments offering.

With WorkWave and IFS performing exceptionally well (IFS growing cash EBITDA over 70 percent in 2020) and the two businesses serving increasingly different customer groups, it became clear over time that WorkWave’s full potential journey could be even further accelerated under a standalone ownership. As part of the full potential strategy, WorkWave is completing two transformational add-on acquisitions in the US, Real Green Systems (“Real Green”) and Slingshot.

The acquisition of Real Green, a Michigan-based provider of software and payment solutions for the FSM industry, further cements WorkWave’s strong position in asset-light FSM software. Moreover, the acquisition of Slingshot, a provider of customer call center software headquartered in Utah, demonstrates WorkWave’s commitment to building a company that is the best partner in the industry for its customers.

The two acquisitions are expected to add significant strategic value to WorkWave and its customers by further strengthening the multi-vertical software, payments and service offering for field service management. Moreover, the add-ons provide an exceptional platform to accelerate growth via organic initiatives and additional strategic M&A.

Johannes Reichel, Partner within EQT Private Equity’s Advisory Team, said, “Having followed WorkWave closely under IFS’ ownership, we are extremely impressed by the management team’s execution of transformative strategic initiatives. This has cemented WorkWave’s position as an industry leader helping to create the best service organizations possible and thereby generating superior growth. Further, we are very excited about the recent transformational acquisitions and the strategic value they will bring to the WorkWave platform and WorkWave’s customers.”

David F. Giannetto, CEO at WorkWave, further commented, “WorkWave is now entering a phase where our products will improve and expand rapidly as we increase what was already an industry-leading level of investment into our technology development and support capabilities. The acquisition of RealGreen represents two successful and fast-growing companies coming together to create something truly special. It marks the beginning of a new chapter where WorkWave will help our customers go beyond service to create effective, fast-growing, highly profitable service organizations that also deliver the best service experience possible.”

Darren Roos, CEO of IFS, who will now serve as WorkWave’s Chairman of the Board, concluded, “I am confident that, under David Giannetto’s leadership, WorkWave will continue to transform into something unique. WorkWave is expanding its position as a market leader to new verticals and continuing to solidify the deep connection with its customer base that it is known for.”

Existing IFS minority shareholder TA Associates will remain invested in WorkWave alongside EQT Private Equity and new partner Serent Capital, the former owner of RealGreen. WorkWave’s CEO, David F. Giannetto, will continue to lead the combined company, further supported by IFS CEO and WorkWave Chairman of the Board, Darren Roos.

The transactions, including the separation of WorkWave from IFS and the add-on acquisition of RealGreen, are expected to close by the end of June 2021. The acquisition of Slingshot was completed on 30 April 2021. The parties have agreed not to disclose the transaction value or financial details related to the deals.

Kirkland & Ellis and PwC served as advisors to EQT Private Equity.

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

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 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 WorkWave
For nearly 40 years, WorkWave has been building best practices into its market-leading field service and last mile software solutions to allow best-in-class companies to grow their business, service their customers, and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction, and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave’s award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers.

More info: www.workwave.com

About RealGreen
Walled Lake, MI-based Real Green Systems has more than 35 years of experience providing software and marketing solutions for the lawn care, landscaping, arbor care, and pest control industries. Its flagship solution, Service Assistant, is the premier customer relationship management software used by thousands of companies worldwide to streamline and grow their businesses. Along with offering a complete portfolio of integrated solutions, including: Automated Marketing Assistant, Customer Assistant Websites, Measurement Assistant, Mobile Live, Routing Assistant, and Real Green Payment Processing, Real Green Systems continues to partner with other industry innovators to provide leading-edge business operation software with the broadest range of features and the most advanced marketing tools.

More info: www.realgreen.com

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IK Investment Partners enters into exclusive discussions with Fremman Capital to sell VPS

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that it has entered into exclusive discussions with Fremman Capital to sell its stake in VPS (“the Company”) from the IK VII Fund. Financial terms of the intended transaction are not disclosed.

Founded in 1980 and headquartered in Rotterdam, the Netherlands, VPS is a global provider of testing and inspection services, enabling marine, power and renewable clients to optimise their operational performance and comply with environmental regulation. VPS has 270 highly trained employees and operates a global network of offices and laboratories to test fuels and lubricants and provide related advisory services. Leveraging decades of experience, the Company offers bespoke testing services that go well beyond base standards to deliver additional protections to its clients, crews and the environment, while complying with International Maritime Organisation (IMO) regulations and safety requirements.

Under IK’s ownership, VPS has reinforced its leadership position within its core markets and introduced various additional services including Oil Condition Monitoring for shipping operators and renewable energy producers. The Company has also introduced value-add data services by utilising its proprietary database developed for over 40 years. Under IK, VPS has concluded three strategic acquisitions to further diversify its services and strengthen its decarbonisation advisory offering. With its continued focus on sustainability, VPS is well positioned to grow further, capitalising on its ability to assist clients in minimising energy consumption and greenhouse gas emissions and supporting the development of green fuels.

The intended transaction is subject to legal and regulatory approvals.

Malcolm Cooper, Chief Executive Officer of VPS, commented: “We have enjoyed a successful partnership with IK. They have supported us in developing a new sales strategy, investments in additional laboratory equipment and multiple acquisitions, enabling us to better serve our clients, which in turn creates a positive ecological impact.”

Frederik Jacobs, Director at IK Investment Partners and Advisor to the IK VII Fund, said: “Working with Malcolm and his team on the development of such a unique business has been immensely rewarding. We are delighted to have been able to support VPS’ mission to tackle climate change, which has a direct and significant impact on our oceans and air quality.”

Andrew Chetwood, Director at Fremman Capital, added: “VPS has an active role in ensuring that the biggest names in global shipping are safe and environmentally sustainable, with plenty more offerings to add in the coming years. Malcolm has done a fantastic job developing VPS into the business it is today, and we are excited to support his vision for the future.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 150 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

Fremman Capital

Founded in 2020, Fremman is a pan-European, mid-market investment firm with offices in London, Madrid, Munich, and Paris. The firm is an established multi‐geography platform consisting of c.30 professionals that operates as one team. It is supported by a highly experienced Board of Advisors of 16 individuals, that provide unique sector expertise and insights. The firm focuses on investments in four core sectors, including business & tech services, healthcare, consumer goods & distribution, and industrials. Utilising their reputation as trusted advisors, Fremman looks to partner with companies’ management teams to deploy multiple growth strategies, transforming businesses from national to multinational sustainable leaders. For more information, visit www.fremman.com

VPS

VPS delivers testing, inspection and advisory solutions that help its customers achieve measurable improvements to fuel and lubricant management, operational efficiency and regulatory compliance. VPS operates a global network of customer service offices supported round-the-clock by technical experts integrated with specialised and accredited laboratories strategically located in Rotterdam, Singapore, Houston, Fujairah and Manchester. For more information, visit www.vpsveritas.com

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EQT Private Equity to sell Aldevron to Danaher Corporation for enterprise value of USD 9.6 billion

  • Aldevron is a leader in manufacturing high-quality plasmid DNA, mRNA and recombinant proteins
  • Aldevron’s products empower biotech companies to achieve scientific and medical breakthroughs
  • During EQT’s ownership, Aldevron has experienced strong organic growth and made significant investments to position itself for further expansion

EQT is pleased to announce that the EQT VIII fund (“EQT Private Equity”) has agreed to sell Aldevron to Danaher Corporation for an enterprise value of USD 9.6 billion. EQT Private Equity acquired a majority interest in Aldevron in 2019, investing alongside TA Associates, founders, and management.

Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron is a leading global provider of high-quality plasmid DNA, mRNA and recombinant proteins used in vaccines, gene and cell therapy, gene editing and diagnostic applications. Aldevron employs approximately 600 people, and is headquartered in Fargo, North Dakota, with additional operations in Madison, Wisconsin.

Together with the founders and management team, EQT supported Aldevron in its mission to develop and manufacture high quality biologics that help make meaningful changes in people’s lives worldwide. Aldevron’s custom manufacturing capabilities enable scientists and biotech companies to develop and supply new breakthrough genetic medicine, and Aldevron has played an important role in combating COVID-19 by supplying plasmid DNA used to manufacture mRNA vaccines.

Under EQT’s ownership, Aldevron has experienced strong organic growth, expanded its management team and made significant investments to position the business for continued expansion. Aldevron recently completed the construction and validation of a new, state-of-the-art 189,000 sq ft facility on its 14-acre Breakthrough Campus in Fargo, adding significant GMP manufacturing capacity.

Kevin Ballinger, CEO of Aldevron, commented, “Genetic medicine is the future and our field is expanding rapidly. EQT has been a great partner to us and played an important role in supporting our company as we scale. Danaher is an excellent strategic fit and new home for Aldevron, and we look forward to working with them.”

Michael Chambers, Founder and Executive Chairman of Aldevron, commented, “Aldevron helps advance breakthrough science, and is a critical player in the medical community. We are grateful for EQT’s support over the past few years, and I am excited for Aldevron to partner with Danaher as we continue our journey.”

Eric Liu, Partner and Global Co-Head of Healthcare at EQT, commented, “Aldevron is integral to the development and supply of new types of therapies that address previously uncurable medical conditions. We are proud to have supported Aldevron and its mission to deliver the highest quality products that help improve patient lives across the world. It has been a pleasure partnering with Michael, Kevin, and the entire team, and we look forward to following the next phase of Aldevron’s growth.”

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.

Morgan Stanley & Co. LLC acted as exclusive financial advisor to Aldevron, and Simpson Thacher & Bartlett LLP provided legal counsel.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 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 Aldevron
Aldevron is a premier manufacturing partner in the global genetic medicine field. Founded in 1998 by Michael Chambers and John Ballantyne, the company provides critical nucleic acids and proteins used to make gene and cell therapies, DNA and RNA vaccines, and gene editing technologies. Aldevron’s 600 employees support thousands of scientists who are developing revolutionary treatments for millions of people.

More info: www.aldevron.com

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CapMan holds a €300 million first close for a Nordic open-ended residential real estate fund and simultaneously signs a portfolio acquisition in Helsinki in excess of €500 million

Capman

CapMan Real Estate press release
17 June 2021 at 12.00 noon EEST

CapMan holds a €300 million first close for a Nordic open-ended residential real estate fund and simultaneously signs a portfolio acquisition in Helsinki in excess of €500 million

CapMan Real Estate has established a Nordic core residential fund (“Fund”) with over €300 million in initial commitments from international investors. The Fund has an open-ended structure and is targeting €1.0 billion of equity by 2023.

The new Fund enables CapMan Real Estate to continue its highly successful and extensive residential business in the Nordics, where it has acquired approximately €2.2 billion of residential properties since 2014.

“There is tremendous investor demand for a product that invests exclusively in rental residential properties with a Nordic mandate. We know this market very well and have good relationships with property owners and developers and believe that an active and local value-add management approach can add significantly to the core return profile”, says Mika Matikainen, Managing Partner and Head of CapMan Real Estate.

“Our vast experience and track record in the Nordic residential sector should enable us to significantly grow the Fund over the coming years, and we already have a substantial pipeline of new investment opportunities”, comments Torsten Bjerregaard, Managing Partner, CapMan Real Estate.

First investment for the Fund

Simultaneously with the first closing, the Fund has signed an agreement to acquire a seed portfolio consisting of 29 modern rental residential properties with 1,854 middle-income apartments with a combined 88,279 m2 net leasable area in Helsinki Metropolitan Area and surrounding commuter towns from ICECAPITAL. The properties have been built between 2016 and 2021 and are in very good condition requiring minimal capex investments over the next 10 years.

“The properties are attractively located in growth centres in and around the Helsinki Metropolitan Area with good access to commuter connections. The relatively small unit sizes of the portfolio are consistent with the ongoing demographic trends that support a growing number of smaller households and preference to rent instead of owning a home,” says Juhani Erke, Head of CapMan Real Estate Finland.

CapMan’s Real Estate team comprises over 40 real estate professionals in Helsinki, Stockholm, Copenhagen, Oslo and London. CapMan Real Estate currently manages a total of €3.6 billion in real estate assets.

For additional information, please contact:

Mika Matikainen, Managing Partner, CapMan Real Estate, tel. +358 40 519 0707

Torsten Bjerregaard, Managing Partner, CapMan Real Estate, tel. +44 7715 772 554

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. 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, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki, Stockholm, Copenhagen, Oslo, 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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HENT signs major agreement with Statsbygg for construction of part of new Norwegian government district

The construction company HENT, 73% of which is owned by Ratos, has signed an agreement with the Norwegian government’s building commissioner, property manager and developer Statsbygg concerning the construction of A-block, part of the new government district in Oslo. HENT already has an agreement in place for D-block.

Construction of the new government district in Oslo started in January of this year, and construction of A-block is scheduled to commence in 2023. It is a major project for HENT and, like D-block, will be carried out as a so-called partnering contract.

“I am very proud that HENT has once again been entrusted to contribute to such a central part of Norway’s infrastructure as the government district. It is also gratifying to see that HENT’s focus on partnering is yielding results and, so far, A-block and D-block are the crowning jewels for HENT in Norway when it comes to this type of collaborative project,” says Christian Johansson Gebauer, Chairman of the Board of HENT and Head of Business Area at Ratos.

The building will cover a total of 17,300 square metres across 11 storeys, featuring a distinct exterior that will provide a sense of cohesion with the entire district. The new government district in Oslo is expected to be fully completed in 2029.

“In addition to being an important project in its own right, this project will continue to strengthen HENT’s backlog of orders, where public-sector customers are playing an increasingly important role,” Christian Johansson Gebauer continues.
For further information:
Christian Johansson Gebauer, Head of Business Area Construction & Services
+46 8 700 17 00

About Ratos:
Ratos is a business group consisting of 12 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 34 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

 

 

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Ardian acquires a stake in NetCo Group, a European leader in the design and general maintenance of conveyor systems, alongside the founding family Perriez

ik-investment-partners

Paris, June 17, 2021- Ardian, a world-leading private investment house, today announces that it has acquired a stake in NetCo Group, following investment from funds managed by IK Investment Partners (“IK”) and Andera Partners.

Founded in Bordeaux in 1902 by the Perriez family, NetCo has established itself as a European leader in the market for general maintenance and servicing of conveyor systems across a wide range of production sectors – particularly food processing, logistics, minerals and agro-food.

Now led by Samuel and James Perriez, the fourth generation of the Perriez family, the Group has recently expanded through a combination of strong organic growth as well as an ambitious acquisition strategy. This is evidenced by over 20 bolt-ons carried out since 2015, including the acquisition of stakes in ABM TECNA in Belgium in 2017, and in other European companies in the same sector, in Spain and Germany among others.

Today the Group manages a network of over 100 service points across France, Spain, Belgium, Germany and Luxembourg.

With the support of the Ardian Expansion team, NetCo’s management team – led by Samuel and James Perriez – intends to continue the Group’s expansion strategy both in France and internationally, taking advantage of the growing outsourcing of maintenance services in Europe, a market still highly fragmented.

The completion of the transaction remains subject to the approval of the competition authority.

Alexis Lavaillote, Managing Director of Ardian Expansion, said: “We have been impressed by the growth of NetCo and we are looking forward to working with its exceptional management team in a family business. The Group’s excellent reputation and the quality of the management team led by Samuel and James Perriez have enabled it to become a major European player. Supporting NetCo in the next stage of its development through this strategic partnership is a great opportunity.”

Samuel and James Perriez from NetCo added: “Our goal, to accelerate our international development by capitalising on our values, the ones of a family business, means that we see Ardian as a natural fit with whom to join forces. We believe the Expansion team has all the skills and expertise necessary to enable NetCo Group to achieve its growth ambitions.”

Pierre Gallix and Arnaud Bosc, Partners at IK and advisors to the IK Small Cap II Fund, commented: “The transformation of NetCo into a leading player on the European market in just two years demonstrates IK’s value as an investor and partner. We have been delighted to support them in their growth and would like to take this opportunity to congratulate Samuel and James Perriez for their exceptional leadership and wish them and Ardian all the best for this new chapter.”

François-Xavier Mauron, Partner and Arthur Milliard, Investment Director of Andera MidCap added: “We met Samuel and James Perriez in 2016 and we are very proud to have supported them in their growth, which has seen the company more than tripled in size in fewer than four years. Netco has grown into an international player through its organic and external growth that has been accelerated by the support of our fellow partners at IK since 2019.”

For further questions, please contact:

IK Investment Partners
Maitland/AMO
James McFarlane
Phone: +44 (0) 7584 142 665
jmcfarlane@maitland.co.uk

Ardian
Headland
Viktor Tsvertanov
Phone: +44 207 3435 7469
VTsvetanov@headlandconsultancy.co.uk

IK Investment Partners

IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 150 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

Ardian

Ardian is a world-leading private investment house with assets of US$112bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,100 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt. For more information, visit www.ardian.com

NetCo

Founded in 1902, NetCo is the European specialist in the design, global maintenance and servicing of conveyor systems present in all production sectors (minerals, agro-food, logistics and environmental). With a network of over 100 service points, NetCo is recognised for its responsiveness, efficiency and highly technical, tailor-made services. Today, more than 950 employees work in the company’s various activities and sectors. For more information, visit www.groupe-netco.com

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EQT Private Equity acquires majority stake in Parcel2Go, UK’s largest parcel delivery marketplace and e-commerce shipping platform

eqt
  • Parcel2Go pioneered the concept of a parcel delivery marketplace in the UK, becoming the leading e-commerce shipping platform for SMEs and prosumers
  • Parcel2Go is addressing a large and fast-growing market supported by favorable megatrends such as the accelerating shift from retail to e-commerce, the proliferation of e-commerce startups and marketplaces, and the continued innovation and investment in parcel delivery infrastructure
  • EQT Private Equity will, together with Parcel2Go’s founders, support accelerated growth and further penetration of existing markets, organically and via M&A, by leveraging EQT’s strong digital and sector expertise, global platform and extensive advisory network

EQT is pleased to announce that the EQT Mid Market Europe fund (“EQT Private Equity”) has entered into an agreement to acquire a majority stake of Parcel2Go (“P2G” or “the Company”) from Mayfair Equity Partners (“Mayfair”) and management, who will remain as minority owners. P2G’s management team, including Executive Chair, James Greenbury, will continue to lead the Company, building on its strong execution track record of growth and product innovation.

Founded over 20 years ago and headquartered in Bolton, Parcel2Go has grown to be the category leader, providing marketplace services to all major UK carriers, offering collection and delivery services throughout the UK, Europe, and countries across the world. In addition to quick and easy price comparison options, Parcel2Go provides value added services such as SmartSend – software that enables SMEs and marketplace sellers to manage their deliveries across multiple platforms including eBay, Amazon and Etsy. Parcel2Go has also developed and rolled out a white label service for carriers which includes turnkey shipping software, a fully hosted website and post-sale customer service management.

P2G is addressing a large and fast-growing market supported by favorable secular megatrends, such as the accelerating shift from retail to e-commerce, the proliferation of e-commerce startups and marketplaces, and the continued innovation and investment in parcel delivery infrastructure.

EQT Private Equity aims to continue strengthening the position of P2G as the leading parcel delivery marketplace in the UK and support the acceleration of Company’s expansion by further investing in its platform and product, as well as enabling an ambitious plan for growth and penetration of new customer segments and international markets, organically and via M&A.

Victor Englesson, Partner within EQT Private Equity’s Advisory Team, said, “We are impressed by Parcel2Go’s achievements to date and are looking forward to partnering with James Greenbury, his management team and Mayfair to help unlock the company’s full potential. Parcel2Go is supported by numerous positive secular megatrends and represents a truly thematic investment for EQT. We are excited to continue supporting the company growth by further investing into its new platform, developing new products, and expanding into new markets.”

James Greenbury, Executive Chair of Parcel2Go, said, “We’re excited to welcome EQT as another high-quality partner, and we’re pleased that Mayfair will continue with us on the journey. After 20 years, we’re still highly ambitious and look forward to capitalising on new opportunities to innovate, disrupt the market and grow Parcel2Go.”

The transaction is expected to close subject to customary approvals in July 2021. The parties have agreed not to disclose the transaction value or financial details related to the deal.

PwC and Allen & Overy served as advisors to EQT Private Equity. Drake Star Partners (corporate finance), EY-Parthenon (commercial), PwC (financial), Goodwin Procter (legal) and Liberty Corporate Finance (management advisory) served as advisers to Parcel2Go, Mayfair and Management.

Contacts
EQT Press office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 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 Parcel2Go
Parcel2Go has been helping its customers to organise reliable domestic and international deliveries for the past 20 years. Based in Bolton, the company operates a cost-effective online parcel delivery and international freight shipping service with sophisticated integrations in to the world’s leading marketplaces, saving customers time as well as money. Parcel2Go offers access to the world’s leading courier services offering collection and delivery services throughout Britain, Europe, and countries across the world.

Categories: News