Archives

Bridgepoint completes acquisition of EQT Credit

Bridgepoint

Bridgepoint, the international alternative asset manager, is pleased to announce that it has completed the acquisition of EQT Credit. The acquisition will merge with Bridgepoint’s existing credit business to create an enlarged group which will represent over €7 billion of total assets under management.

Bridgepoint managing partner William Jackson said: “This transaction significantly accelerates the growth of our Credit activities, in line with our wish to continue to offer a diversified range of investment products to our investors. It strengthens Bridgepoint Credit’s existing local presence in London and Paris and adds new credit teams in Germany, the Nordic region and the US.”

Commenting on the newly combined Bridgepoint Credit business, managing partner Andrew Konopelski added: “Bridgepoint Credit continues to be open for business but with significantly enhanced investment firepower. We now have a dedicated team of 50 professionals in seven countries investing three highly complementary strategies that cover corporate credit from syndicated loans through European direct lending to opportunistic credit. Together we’ve been doing this since 2008 and coming together with Bridgepoint marks a new chapter that will mutually strengthen our knowledge of companies, industries and key trends in today’s market. This is a continuation of the same, but only better.”

Categories: News

Tags:

Oliver Thym Joins Thoma Bravo to Lead Credit Business

Thomabravo

SAN FRANCISCO – Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, today announced that Oliver Thym has joined the firm as a partner to lead the Thoma Bravo Credit platform, which is focused on investing in the debt of software and technology companies.

Thym will oversee the firm’s credit funds and strategic debt investments, building upon a strong foundation in place with the goal to grow Thoma Bravo’s credit platform and drive value for investors. He joins the firm amid strong momentum in its credit business, with Thoma Bravo having invested or committed $3.5 billion across 48 issuers since the inception of the firm’s credit platform in 2017.

“Oliver’s deep expertise in credit and strong, long-standing relationships across sponsors and institutional investors will help us grow our credit business,” said Orlando Bravo, a founder and managing partner at Thoma Bravo. “We are thrilled to welcome Oliver to our team as we add scale to our platform to take advantage of the exciting opportunities in the credit markets.”

“Thoma Bravo is a clear leader in software and technology investing, and they have built a highly successful credit platform on the strength of a tested strategy,” said Oliver Thym. “I’m very excited to join the team at this pivotal moment to further grow the platform and continue to drive value for investors.”

Thym joins Thoma Bravo after a more than 23-year career at Goldman Sachs where he was a Partner and Head of the Private Credit Group in the Americas for the Merchant Banking Division. The Private Credit Group managed approximately $45 billion of assets under management and invested across the credit capital structure. Oliver served on various divisional and firmwide committees, including the Merchant Banking Credit and Corporate Investment Committees and Risk Committee. Oliver earned an MBA from the Stanford Graduate School of Business after receiving a BS in Operations Research and Industrial Engineering and a BA in Economics from Cornell University, where he graduated Phi Beta Kappa.

About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of June 30, 2020, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

Categories: People

Thoma Bravo Completes $22.8 Billion Fundraise

Thomabravo

SAN FRANCISCO and CHICAGO—Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, today announced the completion of fundraising for three funds totaling more than $22.8 billion in capital commitments: Thoma Bravo Fund XIV, a $17.8 billion fund, Thoma Bravo Discover Fund III, a $3.9 billion fund, and Thoma Bravo Explore Fund, a $1.1 billion fund (the “Funds”). Each fund reached its hard-cap and was significantly oversubscribed. These closings bring Thoma Bravo’s assets under management to more than $70 billion, and the new funds significantly enhance the firm’s capacity to invest in high quality software and technology companies around the world.

“We are grateful to our investors for their tremendous support and their continued confidence in our investment strategy,” said Orlando Bravo, a founder and managing partner at Thoma Bravo. “Over the last 20 years, and over the course of more than 260 transactions, we’ve seen firsthand how well software can perform with the right investment and operational guidance. These three new funds position us to continue executing on our investment approach of buying high quality software companies with experienced management teams, loyal customers and strong product offerings, to accelerate their growth and innovation.”

Thoma Bravo Fund XIV is expected to target large equity investments and is the largest flagship fund in the firm’s history; Thoma Bravo Discover Fund III is expected to make middle-market equity investments; and Thoma Bravo Explore Fund is expected to make lower middle-market equity investments. The Funds received strong support from Thoma Bravo’s network of investors including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices.

The Funds follow an active year for Thoma Bravo on both the buy and sell side, with investments and realizations representing over $20 billion in combined enterprise value, including the $11 billion sale of Ellie Mae to Intercontinental Exchange.

Thoma Bravo has a more than 20-year track record of partnering with management teams of software and technology companies to implement best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings with the goal of creating the company’s value. The firm has acquired more than 260 software companies across a range of industries, including healthcare IT, security, financial technology, infrastructure and applications. Today, the firm’s private equity software portfolio includes over 40 companies that generate approximately $15 billion of annual revenue and employ over 45,000 staff around the world.

“The accelerated digital transformation across all industries has underscored how essential software is for commerce and business continuity as well as its continued resilience,” said Jennifer James, managing director, head of investor relations and marketing at Thoma Bravo. “Our investors recognize that our deep experience and track record in enterprise software have positioned us to take advantage of these industry dynamics and the opportunities in the market. As stewards of their capital, we greatly appreciate their support and look forward to applying our software expertise with a goal of continuing to drive successful outcomes for our investors.”

Kirkland & Ellis served as legal advisor for the Funds.

About Thoma Bravo, L.P.
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $70 billion in assets under management as of June 30, 2020, Thoma Bravo partners with a Company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.

Read the release on the PR Newswire website here.

Categories: News

Tags:

Sale of EQT Credit to Bridgepoint completed

eqt

Following the signing of a definitive agreement in June 2020 to sell the Credit business segment to Bridgepoint (the “Transaction”), EQT AB (“EQT”) today announces that the Transaction has been completed. All necessary closing conditions, including regulatory, anti-trust and fund investor clearances, have been achieved. The Transaction concludes the review of future strategic options for the business segment and gives Credit a new owner to support its growth prospects. It also permits EQT to further focus its efforts on building scalable value-add strategies focused on active ownership.

The proceeds will be used to continue to deliver on EQT’s defined growth strategy. The Credit business segment was reported as discontinued operations in the half year 2020 report.

JP Morgan has acted as financial advisor and Kirkland & Ellis and Travers Smith as legal advisors to EQT on the Transaction.

Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56
EQT Press Office, press@eqtpartners.com

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

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

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 17 countries across Europe, Asia Pacific and North America with more than 700 employees.

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

Categories: News

Tags:

Bowmark Capital backs buy-out of Totalmobile

Bowmark

26/10/2020

Bowmark Capital, the mid-market private equity firm, has backed the buy-out of Totalmobile, the UK’s leading independent Field Service Management software provider.

Totalmobile has over 700 customers and 250,000 mobile-workforce users across the public services (government, local authorities, health and emergency services), property, facilities management, transport and infrastructure sectors.

Its technology is used to increase field-based workforce capacity; deliver operational cost savings; enhance compliance assurance; and improve end-customer service quality.

Recent years have seen Totalmobile deliver strong organic growth, transition to a Software-as-a-Service business model and complete four highly successful, complementary product acquisitions.  Since 2018, the company’s revenues have increased by over 45% per annum, with this strong growth continuing throughout 2020 despite the global pandemic.

As part of the transaction, additional funding of over £100 million is being made available to accelerate the company’s successful acquisition programme.

Bowmark partner Stephen Delaney said: “We have followed Totalmobile’s progress for a number of years and been highly impressed by the evolution of its business model, its innovation, and its strong record of recurring revenue growth.  We believe the company is uniquely positioned to capitalise on increasing customer demand in the field services market, and are delighted to have the opportunity to support Jim Darragh and the team in the next stage of growth.”

Totalmobile’s chief executive Jim Darragh commented: “I am nothing more than proud and delighted to have led Totalmobile over the past four years and to see our great team of people build, deliver, expand, and evolve the business into the market-leader it is today.  We still have significant runway ahead of us, and to have attracted investment from one of the UK’s most well-respected private equity firms – Bowmark Capital – validates my pride and excitement for the future.”

Categories: News

Tags:

Ardian sells Gantner Technologies to Salto Systems

Ardian

  • 15 October 2020 Expansion Frankfurt am Main, Germany

• Gantner has doubled in revenues since Ardian’s investment began in 2016, creating a technology leader
• The company looks forward to continue this growth path with SALTO Systems

Frankfurt am Main / Nueziders (Austria), 15th October 2020 – Ardian, a world-leading private investment house, has sold GANTNER Electronic Austria Holding GmbH (“Gantner”). The company, which specializes in electronic access, ticketing and billing systems as well as smart locks for lockers, will be acquired by SALTO Systems (“SALTO”), a leading manufacturer of access control and electronic locking solutions. The parties have agreed not to disclose the details of the transaction.

Founded in 1982 and headquartered in Nueziders, Austria, Gantner is a leading European manufacturer of systems that enable automatic and contactless identification, based on RFID (Radio Frequency Identification) and NFC (Near Field Communication) technology.
Gantner systems comprise integrated solutions for membership and visitor management, cashless payments, time recording in business organizations and security. Its customers range across various areas, including fitness clubs and medical fitness facilities), Attraction (water parks, spas, museums and other cultural facilities, ski storage, golf courses and amusement parks), Corporate (smart employee lockers for flexible work models, access control solutions for industrial companies, healthcare staff, public facilities and cashless payment systems for company cafeterias) and Education (universities, libraries and schools).
Since Ardian took a majority stake in Gantner in 2016, the company has continued with its established strategy, providing customers with integrated solutions through targeted investments in research & development, as well as the expansion of the product range.

In June 2017, the product portfolio was expanded to include ticketing and management software for leisure facilities with the acquisition of Syx Automations. This was followed by the acquisition of Contidata in June 2020, with which Gantner expanded its offering to include market-leading cashless payment systems for company cafeterias. As part of its international expansion, the company was able to increase its market share, particularly in the USA, the UK and the Benelux countries. As a result, since 2015 Gantner has doubled in revenues and increased the number of employees from 200 to 450.

Headquartered in Spain, with more than 750 employees in offices spanning 32 countries, SALTO is a global leader in the development and manufacturing of world-class access control solutions, particularly in sectors where security is critical: education, healthcare, commercial, hospitality, retail, working spaces, residential and co-living, and Purpose Built Student Accommodation (PBSA). The company revolutionized access control with a pioneering approach that featured the first stand-alone, battery-powered electronic lock; the SALTO Virtual Network (SVN) data-on-card technology; and the first wireless access control system that combined a stand-alone locking device with online, real-time capabilities — all without using wires or mechanical keys. The company has expanded its portfolio to include world-class software management, cloud solutions, and mobile applications. With the addition of the Gantner portfolio, SALTO will now have the combined strength and joint capacity of one million access points annually.

Elmar Hartmann, CEO of GANTNER, said: “The collaboration with Ardian as an entrepreneurial partner was a true success story. During the past four years, we have been able to continue our steep growth curve and doubled our size. With innovative products and integrated solutions for contactless access, ticketing and billing systems as well as flexible workspaces, we are, becoming a truly global player that significantly shapes the market in our segments. Thanks to the new partnership with Salto, we can expand our product portfolio, take advantage of important synergies, better target our markets and address customer segments with precision. This puts us in an optimal position to continue our growth. I would like to thank Ardian for their excellent cooperation, which was both inspiring and respectful, and look forward to continuing the successful development of our company with SALTO.”

Javier Roquero, SALTO Co-founder and CEO, said adding Gantner to the SALTO portfolio offers a “very bright future.”
“We are very excited to welcome Gantner to the SALTO family,” said Roquero. “The Gantner product suite enriches and diversifies the SALTO product offering, enhancing our end user experience and improves our ability to continue to deliver the absolute best in electronic access control.”

Dirk Wittneben, Managing Director at Ardian and responsible for the investments of the Expansion team in the DACH region, added: “We are proud to have supported Gantner in its internationalization, important strategic acquisitions and the development of new industries and customers. As a result, the company has been able to expand its product range and geographic coverage. We want to take this opportunity to thank Gantner’s management team and employees for their trust and cooperation. We know SALTO is a good fit for further development in the future.”

ABOUT GANTNER

Founded in Schruns, Austria in 1982, the company is widely considered to be a pioneer in contactless electronic access management and time recording systems in its core segments. Gantner offers its customers solutions based on RFID and NFC technology for use in gyms, public pools and spas, theme parks, universities and libraries, and in commercial properties and public buildings. The solutions include access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems as well as ticketing and management software for leisure facilities.
Gantner operates in around 70 countries worldwide and has subsidiaries in Germany, Belgium, the Netherlands, the UK, Dubai, India, Australia, and the USA. The company has a worldwide workforce of 450. Elmar Hartmann has been managing director since 2003.

Visit the website

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$100bn 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 around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

ABOUT SALTO SYSTEMS

SALTO Systems is a global leader in the development and manufacture of world-class access control solutions, particularly in sectors where security is critical: education, healthcare, commercial, hospitality, retail, working spaces, residential and co-living, and Purpose Built Student Accommodation (PBSA). The company revolutionized access control with a pioneering approach that featured the first stand-alone, battery-powered electronic lock; the SALTO Virtual Network (SVN) data-on-card technology; and the first wireless access control system that combined a stand-alone locking device with online, real-time capabilities — all without using wires or mechanical keys. Its leading-edge hardware and software technologies are in use worldwide with 5 million access points and an estimated 40 million daily users. SALTO has local offices in 32 countries and a partner network that extends its reach to nearly every region of the globe.

Visit the website

ADVISORS ON THE TRANSACTION

  • Ardian

    • Dirk Wittneben, Marc Abadir, Max Dolata, Marlon Sandvoss
    • Financial: Deloitte (Egon Sachsalber, Tanya Fehr, Timo Weingärtner)
    • Commercial: goetzpartners (Sigurd Kitzer, Dr. Norbert Danneberg, Dr. Burak Yahsi)
    • ESG: INDEFI (Emmanuel Parmentier, Joanna Tirbakh, Renaud Muller)
    • Legal Corporate: Willkie Farr & Gallagher (Dr. Maximilian Schwab, Dr. Matthias Schudlo)
    • Legal Finance: Willkie Farr & Gallagher (Dr. Ralph Defren, Christopher Clerihew)
    • Tax: Taxess (Gerald Thomas, Richard Schäfer)
    • M&A Advisory: GCA Altium (Alexander Grünwald, Thomas Eulau)

PRESS CONTACT

ARDIAN – CHARLES BARKER CORPORATE COMMUNICATIONS

PETER STEINER

ardian@charlesbarker.de +49 69 79409027

JAN P. SEFRIN

ardian@charlesbarker.de +49 69 79409026

SALTO SYSTEMS

ION MURGA

i.murga@saltosystems.com +34 943 344 550

 

Categories: News

Tags:

SYMPLR to acquire TRACTMANAGER

Arsenal Capital Partners

October 23, 2020

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

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

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

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

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

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

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

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

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

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

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

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

About symplr

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

About TractManager

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

About Clearlake Capital

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

About SkyKnight Capital    

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

About Arsenal Capital Partners

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

Category

Categories: News

Tags:

symplr to acquire TractManager

Arsenal Capital Partners

October 23, 2020

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

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

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

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

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

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

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

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

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

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

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

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

About symplr

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

About TractManager

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

About Clearlake Capital

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

About SkyKnight Capital    

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

About Arsenal Capital Partners

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

Categories: News

Tags:

Dunedin backed GPS secures investment from Visa

No Comments

Dunedin

GPS,

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

Categories: News

Tags:

Nordian Capital and J-Club International complete acquisition

No Comments

Nordian Capital

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

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

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

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

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

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

Categories: News

Tags: