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TowerBrook announces sale of ICS to Onex Corporation

TowerBrook Capital Partners today announces that it has closed the sale of Independent Clinical Services (“ICS”) to Onex Corporation (“Onex”).

ICS provides specialised staffing, workforce management solutions and managed services to the healthcare, social-care and life sciences sectors internationally. Active across four continents, the company plays a vital role in private and public healthcare systems, providing solutions to address the structural imbalances between workforce supply and demand, and delivering preventative care and community services that support hospitals and other healthcare providers, as well as the clinical activities of life sciences companies.

TowerBrook will re-invest a portion of its proceeds from the sale of ICS back into the company and looks forward to partnering with Onex and the ICS management team to support the company in its future growth and development.

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Stirling Square Capital Partners’ Fourth Fund Invests in DOCU Nordic in Partnership with TA Associates

TA associates

London – Stirling Square Capital Partners (“Stirling Square”), a leading pan-European mid-market private equity firm, today announced an additional investment in portfolio company DOCU Nordic Group Holdings AB (“DOCU Nordic” or the “Company”) in partnership with TA Associates, a leading global growth private equity firm.

TA Associates will acquire a significant minority stake in the Company from Stirling Square’s Third Fund alongside Stirling Square’s Fourth Fund, which becomes the majority shareholder in DOCU Nordic.

Headquartered in Ljusdal, Sweden, DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

During Stirling Square’s Third Fund’s ownership, DOCU Nordic substantially developed its product offerings and capabilities while expanding its geographic reach. The Company recently announced the acquisition of Vortal in Portugal, which will add strategic e-tendering capabilities and a presence in Iberia. The new investment is the latest step in DOCU Nordic’s aim to create the leading construction technology and construction management eco-system in Europe, with significant opportunity for future buy-and-build activity.

Henrik Lif, Partner of Stirling Square, commented, “We believe that DOCU Nordic is an outstanding business that provides business critical and high-value services to a broad customer base. We are delighted to continue our investment journey with the Company in partnership with TA Associates. DOCU Nordic has demonstrated industry leading innovation in the construction, real estate and healthcare sectors. With the recent acquisition of Vortal in Portugal, the Company takes a further step geographically with the leading public e-tendering platform in Southern Europe. We look forward to continuing our work with senior management on organic growth and buy-and-build opportunities across Europe.”

Naveen Wadhera, Managing Director of TA Associates, said, “Given our focus on partnering with market leading, profitable and growing businesses, DOCU Nordic offers a compelling investment opportunity for TA. We see particular opportunity to help accelerate the Company’s growth and to expand both product offerings and geographic reach through accretive acquisitions. We are excited to partner with Stirling Square and DOCU Nordic’s management team to help build additional value for the Company.”

Stefan Lindqvist, CEO of DOCU Nordic, added, “We are delighted to have the opportunity to further build on the past three years of partnership with Stirling Square, and we welcome TA Associates, an experienced global investor in the technology sector, as a new partner. We look forward to working closely with both owners as we open a new chapter in DOCU Nordic’s success story.”

Mr. Henrik Lif, Mr. Ben Hopper and Mr Raphael Mukomilow of Stirling Square and Mr. Naveen Wadhera and Mr. Max Cancre of TA Associates will serve on the DOCU Nordic Board of Directors.

About Stirling Square Capital Partners
Stirling Square Capital Partners was established in 2002 as a pan-European private equity firm to pursue transformational change investments in mid-market companies with enterprise values of between €50 million and €500 million. The firm manages €2.5 billion across three active funds on behalf of a global and diverse investor base.

About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About DOCU Nordic
DOCU Nordic is the leading provider of business intelligence and data analytics services within the construction, real estate and healthcare markets in Scandinavia, Central Europe and Iberia.

 

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SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

Shift Invest

SHIFT Invest raises EUR 70 Million for the largest Dutch impact venture capital fund

 

Today, SHIFT Invest announced that it has attracted an additional EUR 23 Million in the second close of its new VC fund SHIFT III. SHIFT Invest’s 3rd impact fund has been oversubscribed and is more than double the size of its predecessor fund.

 

 

The need for disruptive technologies is ever growing

The unprecedented pressure we humans are putting on biodiversity and the way we are changing the Earth’s climate, needs to be drastically limited. We need many forms of solutions, coming from academia, governments, international institutions and from businesses. New ways of thinking and disruptive technologies are key and part of the required actions. However, to bring technology solutions to the market and scale them to create significant impact, capital is required. SHIFT III, together with all Dutch technical Universities and the Dutch research institute TNO, selects the most promising technologies led by ambitious and high performing teams. SHIFT is an early stage investor and typically invests in concept stage, Seed and Series A rounds. SHIFT III also backs its portfolio companies in larger follow-on funding rounds (Series B and C) until exit.

Accelerating ‘tough technologies’ together with a broad range of investors

SHIFT III was created to accelerate companies disrupting the agro-food, biobased or environmentally high burden value chains. A successful first close last February included commitments from cornerstone investor Rabo Corporate Investments, family offices, Dutch regional development funds, Wageningen U&R and other universities as well as successful startup entrepreneurs who were backed by our previous funds. Half a year down the road, SHIFT welcomes new investors such as EIF and Corbion in order to back more ambitious entrepreneurs and create more impact. The European Investment Fund encourages investments in SHIFT’s focus areas and has put a clear commitment to the fund for the coming years. With its contribution, SHIFT III has become the biggest impact investor of its kind in the Netherlands.

Alain Godard, Chief Executive of the EIF, stated: “Climate change is on top of the agenda also for the financing world. The European Investment Fund fully supports the development of a European environmentally-conscious VC ecosystem, which can stimulate the emergence and market introduction of groundbreaking innovation with a positive and fundamental impact on climate and the environment. Such an ecosystem could significantly contribute to societal and economic change.”

Industry and family offices turning more and more towards meaningful investments

“We are seeing an increasing amount of family offices and corporates realizing that their contribution is needed for the urgent shift to a different and circular economy”, says Florentine Fockema Andreae, partner at SHIFT Invest. Partnering with Corbion, a new investor in the fund, provides synergies within the framework of industry knowledge and supporting early stage innovation. “At Corbion, addressing climate change is a business opportunity. We are very excited to join this impact focused innovation platform as this fits seamlessly with our Advance 2025 strategy that is focused around preserving what matters. Open innovation is essential in the transition toward a world in which our planet’s natural boundaries are respected”, says Marcel Wubbolts, Chief Science & Sustainability Officer at Corbion.

Largest seed & early stage impact investor in the Netherlands

SHIFT Invest has been an impact investor long before ’impact investing’ emerged as an industry itself.  In 2009, SHIFT started its first impact fund and invested in, among others, Protix, ChainCraft and Vandebron. SHIFT’s professional fund management can build on long lasting relationships, years of experience in venture capital, a strong reputation and many good and a handful of bad practices. This is why so many investors have committed to the fund: to make a difference and contribute to our shared impact goal of ‘Turning investments into impact’.

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Sandbäckens acquires Johanssons VVS i Ängelholm

Segula

18 September, 2020

Sandbäckens strengthens its position in the Northwestern Skåne region through the acquisition of Johanssons VVS i Ängelholm AB. Sandbäckens is already established in the local market through the subsidiary Sandbäckens Rör i Björe i Halmstad AB.

Johanssons VVS was founded by Stefan Johansson in 1998 and is a full-service provider within HVAC, specializing in district heating, heat pump installations as well as heating & sanitation contracts for new builds, rebuilds and extensions.

Sandbäckens Rör i Bjäre Halmstad AB, established in 2015, has had a successful growth journey since its inception. The company has a turnover of SEK 40 million and 20-25 employees in its two offices in Grevie and Halmstad. The acquisition of Johanssons VVS i Ängelholm is an important next step to continue the successful growth journey.

“We are very pleased with the acquisition of Johanssons VVS. The company is well managed and has a well-established reputation in the region. The acquisition strengthens Sandbäcken’s presence in southwestern Sweden and is a solid platform for continued profitable growth in the region” says Marcus Planting-Bergloo, Managing Partner, Segulah.

 

For further information: please visit www.sandbackens.se or contact:

Marcus Planting-Bergloo, Managing Partner, Segulah Advisor AB,  +46 70 229 11 85, Planting@Segulah.se

Tobias Ålund, VD, Sandbäckens Rör i Bjäre Halmstad AB +46 70 785 23 80, tobias.alund@sandbackens.se

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Folmer Equity Fund II invests in Donier Gastronomie Oy

Folmer

Donier Gastronomie Oy strengthens its business by becoming a portfolio company of Folmer Equity Fund II Ky, a fund managed by Folmer Management Oy. The founderof the company, Alexandre Donier, will continue as the Managing Director and shareholder of the company with the aim of building, together with the staff, the country’s leading food wholesaler with a comprehensive offering.

Since 2003, Donier Gastronomie has supplied high-quality ingredientsfrom their European producers to quality-conscious restaurant and retail clients.The company is specialized in the import and wholesale of dairy and poultry products.In addition, it provides a wide range of dry goods, meats and processed meat products. Donier Gastronomie offersits customers a transparent and traceableproduct chain as well as aresponsible service concept that meets the customer’s needs.The company has premises in Helsinki, Tampere andTurku.In the future, Donier Gastronomie, already known as high-qualityand innovative wholesaler,will strive for an even more significant position in the market.The company reported revenue of ca. 8 MEUR for the fiscal year that ended in 2020, and it currently employs 16 people.The owners of Donier Gastronomie Oy will staywiththe company as minority shareholders.

For more information:

Managing Director, entrepreneur AlexandreDonier, Donier Gastronomie Oy, tel.+358 44033 0028, alexandre.donier@doniergastronomie.fi(in English)

Managing Director, Partner Sami Tuominen, Folmer Management Oy, tel.+358 40 708 4905, sami.tuominen@folmer.fi

Donier Gastronomie Oy is a Finnish wholesaler of high-quality food products specializing in the import and wholesale of dairy, meat, seafood and poultryproducts.

www.doniergastronomie.com

Folmer Management Oy is a Finnish private equity company investing in Finnish SMEs. Folmer creates value through active development work.

Folmer provides companies with support and professional experience –a requirement for success.www.folmer.fiFolmer Equity Fund II Ky benefits from the support of the European Union under the Equity Facility for Growth established under Regulation (EU) No 1287/2013 of the European Parliament and the Council establishing a Programme for the Competitiveness of Enterprises and small and medium enterprises (COSME) (2014-2020).Businesses can contact selected financial institutions in their country to access EU financing: www.access2finance.eu.

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Unity “upping its game” with NYSE IPO

Gp Bullhound

Unity was listed on the NYSE today under the symbol “U”. GP Bullhound, investor through Fund IV, congratulates the management and founding team for this remarkable achievement.

Credits TimWijers

Based in San Francisco, Unity is the world’s leading gaming and real time 3D development platform. Its engine powers more than 50% of all games across mobile, console and PC, with approximately three billion Unity developed apps downloaded each month.

GP Bullhound Fund IV invested in Unity in 2018 and has been an active shareholder ever since, leveraging the global network, advisory services and sector expertise of the wider organization. The firm has helped Unity identify bolt-on M&A opportunities and raise its profile through a number of research reports and events.

The relationship with the founders and management team was built over many years. As part of a thematic-driven thesis, the fund identified Unity as a category winner in the $100 billion+ gaming market. With millions of developers using Unity’s engine daily, the company’s positioning is unique and of high strategic value.

Per Roman, Co-Founder and Managing Partner at GP Bullhound, commented: “Unity is one of those extremely rare assets, powering mobile game development and beyond for decades to come. I would like to congratulate John Riccitiello, David Helgason and the rest of the team for this successful milestone. We are proud to be shareholders in this exceptional business.”

Enquiries

For enquiries, please contact:

Per Roman, Managing Partner

per@gpbullhound.com Alec Dafferner, Partner

alec.dafferner@gpbullhound.com Alon Kuperman, Executive Director

alon.kuperman@gpbullhound.com

About GP Bullhound

GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit

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Lava Therapeutics announces $83 million series C financing to advance novel gamma-delta T cell engager programs

GIlde Healthcare

Utrecht (The Netherlands) and Philadelphia – Gilde Healthcare company Lava Therapeutics announced the closing of an oversubscribed $83 million (€71 million) Series C financing to fund the advancement of its pipeline and platform. The financing was co-led by new investors Novo Ventures and Sanofi Ventures, and included additional new investors Redmile Group LLC, Ysios Capital and BB Pureos Bioventures. In addition, current investors Gilde Healthcare, Versant and MRL Ventures Fund LLC participated significantly in the round.

“We are grateful to have attracted a high-quality syndicate of new investors complementing strong continued support of our existing investors. This financing provides meaningful capital to advance our bispecific gamma-delta T cell engager portfolio into multiple proof-of-concept clinical trials expected to start in 2021 for the treatment of solid tumors and hematologic malignancies,” said Stephen Hurly, chief executive officer of Lava Therapeutics. “We believe our targeted approach, leveraging the unique features of gamma9-delta2 T cells with innovative bispecific antibodies, will deliver novel T cell-based therapies offering advantages over today’s oncology treatments”.

Gamma-delta T cells are the natural surveillance cells of the immune system, continuously patrolling the human body for the identification and targeting of tumor cells. These cells bridge the innate with the adaptive immune system and are a largely untapped opportunity in cancer treatment. Lava Therapeutics’ bispecific gamma-delta T cell engager platform is harnessing the unique properties of these T cells creating a revolutionary truly tumor-targeted immunotherapy to improve outcomes for cancer patients.

Gilde Healthcare acted as lead investor in the first institutional investment round of €16M in 2018. Gilde Healthcare’s Operational Partner Prof. Dr. Paul Parren is actively involved as Head of R&D.

About Lava Therapeutics

Lava Therapeutics is developing a proprietary bispecific antibody platform that engages gamma-delta T cells for the treatment of hematological and solid cancers. The company’s first-in-class immuno-oncology approach activates gamma delta T cell upon binding to membrane-expressed tumor targets. Lava Therapeutics was founded in 2016 based on intellectual property originating from the Amsterdam University Medical Center. The company has established a highly experienced antibody research and development team located in Utrecht, the Netherlands and Philadelphia, USA. For more information, please visit www.lavatherapeutics.com.

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com.

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Oakley Capital agrees sale of Casa.it to EQT

Oakley

Oakley Capital (“Oakley”) is pleased to announce that it has reached an agreement to sell its stake in Casa.it (“Casa”), one of the leading players in the online real estate classifieds market in Italy, to the EQT IX fund (“EQT”). Casa is part of Fund III’s investment in the online classifieds group, Casa & atHome.

Oakley originally invested in the business in 2017, as part of the acquisition of a portfolio of classifieds businesses from REA Group, which comprised Casa.it in Italy and atHome.lu in Luxembourg. Under Oakley’s ownership, Casa has significantly expanded its customer base, now servicing over 14,000 real estate agents with over one million property listings on its website.

Luca Rossetto, CEO of Casa, commented:
“This step comes after a 3-year period of significant change at Casa.it. Our technology platform, brand equity, skills and organisation are now positioning Casa.it to be a much stronger player in the Italian market. I would like to take this opportunity to thank the team at Oakley for its support and valuable contribution over this period, which has been key to the development of the company.”

Mediobanca acted as Oakley’s Financial Adviser in connection with this transaction.

We would like to thank Luca Rossetto and his team for their hard work in successfully developing Casa over the past three years, delivering operational improvements and significant customer growth. Casa has many of the traits that Oakley targets in an investment, as a digital platform with a strong position in a structural growth market, and our partnership has continued Oakley’s successful track record in the digital consumer space.
Peter Dubens
Managing Partner, Oakley Capital

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KKR Acquires Industrial Distribution Property in Phoenix

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KKR

Core Plus Real Estate Strategy Adds Third Industrial Asset to Portfolio

NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the acquisition of an industrial distribution property in Phoenix, Arizona for a purchase price of approximately $43 million. The asset is the third industrial property acquired by KKR’s core plus real estate strategy.

The property is a state of the art fulfillment center completed in 2019 and was 100% leased at acquisition to the wholly owned subsidiary of a leading, Investment Grade public company.

“We are pleased to acquire our first industrial property in Phoenix, which is a market with highly attractive fundamentals,” said Roger Morales, KKR Partner and Head of Commercial Real Estate Acquisitions in the Americas. “This is an important transaction for us as we continue to develop and diversify our industrial footprint.”

KKR owns over 14 million square feet of industrial property in strategic locations near major metropolitan areas across the U.S. Since launching a dedicated real estate platform in 2011, KKR has grown real estate AUM to approximately $12.0 billion across the U.S., Europe and Asia as of June 30, 2020. The global real estate team consists of over 90 dedicated investment professionals, spanning both the equity and credit businesses.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Media:
Kristi Huller, Cara Major or Miles Radcliffe-Trenner
212-750-8300
media@kkr.com

Source: KKR

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AddSecure confirms acquisition of Dualtech IT

Castik Capital

17.09.2020

Through the deal, European customers will benefit from future-proof, secure and reliable end-to-end solutions. This is of particular importance in view of the forthcoming technological shift and the new alarm transmission EU standard 50136-3 required by 2021.

AddSecure, a leading European provider of premium solutions for secure data and critical communications, has completed an agreement to acquire Dualtech IT AB, a leading supplier of secure IP based alarm communication terminals and innovative services, to strengthen its Smart Alarms’ portfolio, expertise, and market coverage in Europe.

“We are delighted to have reached agreement with a company that has demonstrated consistent innovation and dedication to their customers over a long period of time”, says Stefan Albertsson, CEO of AddSecure.

Dualtech’s experience of digitization is of particular importance with the forthcoming technology shift, i.e. the closing down of 2G and 3G networks that is taking place throughout Europe.

“As the technology shift will take place across Europe, there will be a large number of customers with similar needs around Europe. Dualtech’s platform and experience in the field are therefore of great value to AddSecure”, Albertsson continues.

By combining offerings the companies are also well positioned considering the new alarm transmission EU standard 50136-3 required by 2021, which stipulates that an alarm system must be tested end-to-end, and will be will be able to provide European customers with future-proof, secure and reliable end-to-end solutions.

Dualtech will be part of AddSecure, and the product portfolio will coexist together with  AddSecure’s existing Smart Alarms offering. Future offerings will combine the innovative solutions from both portfolios. The Dualtech founders and staff will continue to drive and grow the market and Dualtech’s solutions portfolio.

“This transaction provides Dualtech customers with an excellent outcome in terms of their ability to access the latest technology and solutions available. It also provides an exciting future for our staff with an expansive growth company”, says Anders Johansson, Managing Director of Dualtech.

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

For more information, please contact:

Kristina Grandin, Corporate Marketing Manager, AddSecure
Mobile: +46 70 689 52 08, kristina.grandin@addsecure.com

About AddSecure

AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 50 000 business customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business.

AddSecure serves customers in the security and safety industry, in building security and automation, in digital care, in transport and logistics, in utilities and smart cities, and more. Customers are provided with solutions within Smart Alarms, Smart Care, Smart Grids, Smart Rescue, and Smart Transport.

The company, founded in the early 1970s, today employs more than 750 staff in 15 countries. AddSecure is headquartered in Sweden, and has regional offices as well as a network of distributors around Europe.
AddSecure is majority-owned by Funds managed by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.

About Dualtech IT

Dualtech IT AB, founded 1999, is a leading supplier of secure and cost-efficient alarm communications solutions. The company provides secure IP based alarm communication terminals and innovative services, and is an appreciated and well-renowned business and technology development partner to leading security industry companies all over Europe.

Dualtech focuses on the ongoing transformation of the security industry to new business models under the umbrella Security as a Service, and has long experience and great knowledge of what the digitalization and transformation means to business

Dualtech has customers in over 20 countries around the world, and has delivered over 250 000 secure alarm communications products.

The company has its head office in Gothenburg, Sweden, a sales office in Stockholm, Sweden as well as a subsidiary office in Paris, France.

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