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Antares Supports Sterling Investment Partners’ Investment in HeartLand

Antares

CHICAGO–(BUSINESS WIRE)–Antares announced today that it served as sole lead arranger and is acting as administrative agent for a senior secured credit facility to support Sterling Investment Partners’ investment in HeartLand.

“We’re very pleased to support Sterling Investment Partners and the continued growth of HeartLand, said Doug Cannaliato, senior managing director of Antares. “HeartLand is a market leader, has enjoyed strong growth both organically and through acquisitions, and is led by an experienced and committed management team.”

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Headquartered in Kansas City, MO, HeartLand was founded in 2016. The company provides commercial landscape services through five regional companies across the Central United States. HeartLand’s service offerings include full-service grounds maintenance, landscape enhancements and upgrades, and de-icing and snow removal during the winter.

“We’ve worked with Antares for over 20 years and we appreciate consistency and reliability,” said Charles Santoro, founder and managing partner of Sterling Investment Partners. “To complete the financing for HeartLand, we required a lender who could match our expedited diligence process and provide a complete and flexible financing solution. Once again, Antares delivered.”

“We’re very pleased to support Sterling Investment Partners and the continued growth of HeartLand, said Doug Cannaliato, senior managing director of Antares. “HeartLand is a market leader, has enjoyed strong growth both organically and through acquisitions, and is led by an experienced and committed management team.”

About Antares

With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP., collectively (“Antares”).

Contacts

Antares Capital
Carol Ann Wharton
475-266-8053
carolann.wharton@antares.com

Categories: News

KKR Makes Major Investment in Leading Labor Market Analytics Provider Burning Glass

KKR

KKR Global Impact Extends its Focus on Addressing Global Societal Challenges

BOSTON & NEW YORK–(BUSINESS WIRE)–Sep. 11, 2019–

KKR, a leading global investment firm, and Burning Glass Technologies, the world’s leading real-time labor market data source, today announced that KKR has completed the acquisition of a majority stake in Burning Glass from Providence Strategic Growth. Financial details of the transaction were not disclosed.

The investment is part of KKR’s Global Impact strategy, which is focused on identifying and investing behind companies whose core business models provide commercial solutions that contribute measurable progress toward one or more of the United Nations Sustainable Development Goals (SDGs). By providing the data to drive lifelong learning and market-aligned training, Burning Glass is delivering measurable progress in achieving two of the United Nations SDGs – Quality Education, and Decent Work and Economic Growth.

“By harnessing real-time labor market data, Burning Glass predicts the jobs and skills workers will need in the future, equipping educators, companies and governments with the tools necessary to meet this challenge and contribute meaningful progress toward these goals. We are proud to be investing in Burning Glass to meet this imperative,” said Robert Antablin, Co-Head of KKR Global Impact.

Burning Glass data are relied on by hundreds of clients worldwide, ranging from major employers, universities, and public agencies to multinational organizations like the OECD and the World Economic Forum. The firm has the world’s largest and most sophisticated labor market analytics engine, which it leverages to support workforce development and higher education. Burning Glass’ robust data engine tracks and analyzes job market supply and demand in real-time using proprietary analytics and taxonomies. The world-leading analytics draw on a Burning Glass database of more than a billion current and historical job openings and the company’s pioneering use of big data analytics to understand the changing nature of skills in the job market. Through a range of software applications, the company empowers learning institutions, enterprises, and government agencies in career-aligned program development, strategic workforce management, and in addressing the rapidly growing skills gap.

“Technology is disrupting workers and industries around the world. Predicting tomorrow’s jobs, and the skills needed for those jobs, will empower workers to navigate this disruption, companies to upskill their workforce, and policymakers to promote economic growth,” said Ken Mehlman, Co-Head of KKR Global Impact.

The company will continue to be led by its current executive team, including CEO Matt Sigelman and COO Josh Ticktin.

“The ability for universities to reinvent themselves to address new opportunities amidst existential challenges, the ability for companies to anticipate disruptive technology trends and plan for changing talent needs, the ability for workers and learners to unlock opportunity and mobility, all depend on being empowered with the right information. Burning Glass’s solutions deliver the insight that helps all constituencies to the job market understand the landscape of opportunity more clearly, plan more effectively, and connect more successfully,” said CEO Matt Sigelman. “We are excited for the opportunity to partner with KKR because, for all that we have accomplished, we have only just begun to scratch the surface of our potential to drive the transformative change needed for greater prosperity and efficiency.”

“Since our initial investment in 2015, Burning Glass has solidified its position as the world’s leading job market data source by using data to address challenges in the labor market and shape the future of work,” said Matt Stone, Principal at Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners. “PSG would like to thank the Burning Glass team, in particular, Matt Sigelman and Josh Ticktin, for the opportunity and partnership over the last four years. We are excited for the company’s continued innovation and growth under KKR’s ownership.”

Burning Glass is the fourth investment out of KKR’s Global Impact strategy, following investments in Barghest Building Performance, Ramky Enviro Engineers Limited, and KnowBe4. Over the last decade, KKR has been a leader in driving and protecting value throughout the firm’s private markets portfolio through thoughtful Environmental, Social and Governance (“ESG”) management, as well as measuring and reporting on performance to the public and investors. The firm also has a history of investing in businesses that promote sustainable solutions to societal challenges. This experience of responsible investment combined with a changing landscape of global challenges led to KKR’s decision to create a dedicated Global Impact business in 2018. KKR’s investment in Burning Glass will build on this experience.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, 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.

About Burning Glass Technologies

Burning Glass Technologies is an analytics software company that has cracked the genetic code of an ever-changing labor market. Powered by the world’s largest and most sophisticated database of labor market data and talent, the Company delivers real-time data and breakthrough planning tools that inform careers, define academic programs, and shape workforces.

Burning Glass’ applications drive practical solutions and are used by employers, workers, and educators to make data-driven decisions. Educational institutions, online learning providers and publishers use Burning Glass’ applications to align programs to career opportunity; market programs based on their career ROI; and inform student academic and career decisions. Employers, HR software providers, job boards and recruiters use Burning Glass to analyze their current talent pool and project future needs. This insight allows users to develop strategic workforce plans; build market-informed job and skill definitions; and gain rich competitive intelligence.

Based in Boston and with 320 employees worldwide, Burning Glass is playing a growing role in informing the global conversation on education and the workforce, and in creating a labor market that works for everyone.

Find out more at https://www.burning-glass.com/.

About Providence Strategic Growth Capital Partners L.L.C.

Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston, MA, while Providence has offices in Providence, New York and London. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.

Source: KKR

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Blackstone Announces $20.5 Billion Final Close for Latest Global Real Estate Fund

Blackstone

New York, September 11, 2019  – Blackstone (NYSE: BX today announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX (“BREP IX”). BREP IX has $20.5 billion of total capital commitments — the largest real estate fund ever raised. Blackstone is also currently investing two regional opportunistic funds, the €7.9 billion BREP Europe V and the $7.2 billion BREP Asia II.

Kathleen McCarthy, Global Co-Head of Blackstone Real Estate, said, “This fundraise reflects the excellent relationships we have with our limited partners given the strong results the BREP funds have generated for them since 1991. We are grateful to our investors for their ongoing support and look forward to putting this capital to work on their behalf.”

Added Ken Caplan, Global Co-Head of Blackstone Real Estate: “Despite the challenging investment environment, we continue to see compelling opportunities around our highest conviction investment themes. BREP IX’s scale allows us to commit capital globally in a differentiated set of complex transactions.”

In June, BREP IX committed to its initial investment, the purchase of GLP’s U.S. Logistics Assets for a total of $19 billion, alongside other Blackstone vehicles. This acquisition is expected to close in the coming weeks.

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has $154 billion of investor capital under management. Blackstone is one of the largest property owners in the world, owning and operating assets across every major geography and sector, including logistics, multifamily and single family housing, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ strategy invests in substantially stabilized real estate globally through regional open-ended funds focused on high-quality assets, and Blackstone Real Estate Income Trust, Inc. (BREIT), a non-listed REIT that invests in U.S. income-generating assets. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

Contacts
Jennifer Friedman
Jennifer.Friedman@blackstone.com
Tel: (212) 583-5122

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The Carlyle Group Closes Forgital Acquisition

Carlyle

Milan/Vicenza – Global investment firm The Carlyle Group (NASDAQ: CG) announced that it has completed the acquisition of a 100% controlling stake in Forgital, an Italian based manufacturing company producing large forged and machined components for use in the aerospace and industrial sectors, from members of the founding Spezzapria family and minority shareholder Fondo Italiano d’Investimento, managed by Neuberger Berman.

The purchase agreement, which values Forgital at approximately 1 billion Euros, was first announced on 29th May 2019. Equity for the transaction will come from Carlyle Europe Partners V (CEP V), a European-focused upper-mid market buyout fund and Carlyle Partners VII (CP VII), a US-focused buyout fund.

Established in 1873 with headquarters in Vicenza, Italy, Forgital is a specialist manufacturer of machine-finished forged and laminated rolled rings, made from several different materials, including steel, aluminium, titanium and nickel-based alloys used in several applications across many industries, including aerospace, oil & gas, construction, mining and power generation. Forgital employs over 1,100 people across 9 facilities in Italy, France and United States and through its dedicated global salesforce.

Carlyle will drive the Company’s further international expansion and strengthen its presence in the aerospace sector with Luca Zacchetti, appointed as Group CEO, effective from today. Luca Zacchetti, 58 years old, was CEO at Rhiag Group, the pan-European leader in distribution of aftermarket and spare parts, for over seven years and previously worked for almost five years at AVIO GROUP, a worldwide leader manufacturer of aero-engine components, with the role of Managing Director becoming CEO in 2007. His career includes also positions of Chairman and CEO of Tecnoforge Group and Operating Partner at Alpha Private Equity.

Filippo Penatti, Managing Director, Carlyle Europe Partners advisory team, commented: “We are excited with the appointment of Luca as CEO. We worked well and successfully together in two prior Carlyle investments, including AVIO. His experience in the aerospace industry together with his passion for Forgital’s business will contribute to fueling the Group’s platform development.”

Derek Whang, Principal on Carlyle’s Aerospace, Defense and Government Services team, said: “We look forward to partnering with Luca and all Forgital employees as we embark on this next chapter. The Company has a tremendous heritage and we are committed to upholding Forgital’s exceptional track record and delivering its mission critical parts to all customers.”

Luca Zacchetti, Forgital’s new CEO, added: “I am delighted to join Forgital, a Group with an outstanding reputation for advanced technology, high quality products and world-class customer service. I look forward to contributing to its further international expansion alongside the company’s talented team.”

For more information:

The Carlyle Group:

Barabino & Partners
Marina Riva- Federico Steiner, Tel:+39 02.72.02.35.35
Email: m.riva@barabino.it; f.steiner@barabino.it

Roderick Macmillan
+44  (0)207 894 1630

Email: roderick.macmillan@carlyle.com
About Forgital

Founded in 1873 in Vicenza, Italy by the Spezzapria family, Forgital is the leading European vertically integrated forging company, with 9 facilities in Italy, France and the USA, c. 1,100 employees worldwide and a global network of sales agencies.

Forgital specializes in forging, laminating and machining of rolled rings, with advanced capabilities across a range of materials including: carbon steels, alloy steels, stainless steels, aluminium, nickel, cobalt, copper and titanium alloys.

For more information on Forgital, please visit https://www.forgital.com/

 

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $223 billion of assets under management as of June 30, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 33 offices across six continents.

Web: www.carlyle.com

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DIF Capital Partners to acquire 50 MW wind farm in Uruguay

DIF

DIF Capital Partners (“DIF”), through its most recent fund DIF Infrastructure V, is pleased to announce the signing of an agreement with Enercon and eab New Energy from Germany for the 100% acquisition of the 50 MW Cerro Grande wind farm located in eastern Uruguay.

The project, comprising 22 turbines, has been operational since January 2018 and benefits from a 20-year power purchase agreement with UTE, Uruguay’s state-owned utility. The project will continue to be operated and maintained by Enercon and asset management services continue to be provided by SEG Heliotec.

Wim Blaasse, Managing Partner of DIF Capital Partners added: “We are pleased to achieve the milestone of making our first investment in South America, following the recent opening of our South American office in Santiago (Chile). The acquisition is the result of our strong relationship with Enercon. The long-term project agreements provide a high degree of predictability of future cash flows, making this an attractive investment for DIF’s investors.”

DIF has been advised by Voltiq (transaction), Hughes & Hughes and Gómez-Acebo & Pombo (legal), DNV GL (technical), KPMG (tax), Mazars (model audit) and Aon (insurance). Enercon was advised by Ficus Capital.

Closing of the transaction is subject to receipt of usual consents from project counterparties and is expected to take place in the course of 2019.

About DIF Capital Partners

DIF Capital Partners is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in construction and operational infrastructure assets, that generate stable and predictable cash flows, located in Europe, North America, Australasia and South America through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated utilities and renewable energy projects with long-term contracted or regulated income streams.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams.

DIF has a team of over 130 professionals, based in nine offices located in Schiphol (the Netherlands), Frankfurt, London, Luxembourg, Madrid, Paris, Santiago, Sydney and Toronto. Please visit www.dif.eu for further information.

Contact:
Allard Ruijs, Partner
Email: a.ruijs@dif.eu

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Grove Collaborative Reaches $1B Valuation With $150M Series D

Mayfield

 

  

Grove Collaborative raised $150 million in its Series D round, bringing its valuation across the $1 billion mark.

The company, which makes natural home and personal care products, had previously raised over $60 million, according to Crunchbase.

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The new round was led by Lone Pine Capital, Glynn Capital, and General Atlantic. A new investor, Greenspring Associates, as well as existing investors Mayfield Fund , NextView Ventures, Norwest Venture Partners, MHS Capital and Heron Rock Capital also participated, according to a statement from the company.

With the fresh cash, the San Francisco-based company plans to expand into clean beauty, create more sustainable packaging and products, and hire more than 100 new employees for its Grove Guide team, which answers customer questions and educates shoppers about the company’s natural products.

Grove Collaborative, which was founded in 2016, promotes its products as natural and healthier for users and better for the environment. It’s known for products like its “tree free” toilet paper made of a bamboo and sugar cane blend. Grove Collaborative has household, personal care, baby, and pet products.

The direct-to-consumer company also has a partnership with Mrs. Meyers Clean Day and sells Mrs. Meyers products on the Grove website. It competes with other e-commerce and natural products companies such as the Honest Company (aka Jessica Alba’s natural goods company).

Grove Collaborative is growing quickly, expecting its revenue to triple in 2019. The company says it grew eight-fold between May 2017 and May 2019.

The company last raised its $35 million Series C in January 2018. It raised a $6.7 million Series A in July 2016, and a $15.4 million Series B in April 2017, according to Crunchbase.

TechCrunch also reported in December that the company was quietly raising money. Filings showed that the company was raising $27.4 million and $76.4 million in 2018, in addition to its Series C.

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Esdec Acquires IronRidge and Quick Mount PV

Gilde Buy Out

 

Acquisition creates largest solar racking group in the U.S. San Francisco, CA and Phoenix, AZ — Esdec, a leading global rooftop solar mounting solutions provider, announced today that it has acquired IronRidge and Quick Mount PV, leaders in the design, engineering and manufacturing of solar mounting and racking hardware for the U.S. residential and commercial markets. The addition of IronRidge and Quick Mount PV to current Esdec company, EcoFasten, creates the largest solar mounting systems group in the U.S., representing more than 60% share of the residential market. The combined group generates revenues of over $250 million annually. Terms of the deal were not disclosed.
IronRidge and Quick Mount PV will retain their executive teams and staff and continue to operate as separate entities with unique product lines and sales channels. Both companies will also retain their independent brand names while becoming “An Esdec Company.”
“IronRidge and Quick Mount PV are both well-known and well-respected brands with reputations for innovation, quality and customer service,” said Stijn Vos, CEO of Esdec. “They have played a key role in scaling the U.S. solar industry to where it is today, and our investment adds the capital depth and R&D capabilities needed for them to lead the industry’s next massive phase of growth. We welcome IronRidge and Quick Mount PV to the Esdec family and look forward to working with them.”
Esdec is one of Europe’s largest rooftop solar mounting providers, and these acquisitions also catapult the company into the U.S. market leadership position. Known for its state-of-the-art innovation center, R&D strength and intellectual property portfolio, Esdec will enable IronRidge, Quick Mount PV and EcoFasten to invest more heavily and more efficiently in new product development.
As U.S. PV capacity is expected to more than double over the next five years, the balanced portfolio of the Esdec group of companies provides installers and distributors the certainty they need for their supply chain, despite uncertain regulatory and trade environments. “Esdec acquired three different leaders in the U.S. market because we are each raising the bar on product performance and customer experience in unique ways,” said Rich Tiu, CEO of IronRidge, based in Hayward, CA. “We now have the opportunity to benefit from each other’s portfolio strengths, as well as Esdec’s, while still remaining focused on our unique innovation paths.”
“The American solar industry is among the strongest in the world, and solar hardware is a critical tool in that growth. Joining Esdec will help us continue our expansion—providing us the resources of a global company while maintaining our independence,” said Yann Brandt, CEO of Quick Mount PV. “The team at Quick Mount PV is eager to join the strength of Esdec’s innovation capabilities and to take advantage of the opportunities that economies of scale provide. Solar installers will now be able to get their racking and mounting from one family of companies to enable their massive expansion.”
Since it was founded by a group of installers in 2004, Esdec has become one of the European market leaders in residential and commercial rooftop mounting systems. Esdec entered the U.S. market in September 2018 and acquired EcoFasten in November 2018. Based in the Netherlands, Esdec’s strategy of growth through both acquisition and organic expansion has helped it achieve strong market share in several countries.

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Antares and Bain Capital Credit Support Tailwind Capital’s Acquisition of Ventiv Technology

Antares

CHICAGO & BOSTON–(BUSINESS WIRE)–The Antares Bain Capital Complete Financing Solution (ABCS), a joint venture between Antares and Bain Capital Credit, today announced the closing of a senior secured unitranche credit facility to support the acquisition of Ventiv Technology by Tailwind Capital.

“The speed and certainty of execution provided through ABCS in combination with the team’s deep technology sector knowledge made this the optimal financing solution for our Ventiv Technology investment”

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Founded in 1994 and based in Atlanta, GA with offices in Europe and Asia, Ventiv Technology is a leader in delivering innovative risk, insurance and claim software solutions to over 540 organizations and 350,000 users in more than 40 countries.

“The speed and certainty of execution provided through ABCS in combination with the team’s deep technology sector knowledge made this the optimal financing solution for our Ventiv Technology investment,” said Jim Hoch, partner with Tailwind Capital.

“The quality of Ventiv’s analytics platform and the ease of their platform integration has resulted in high levels of recurring revenue and strong, loyal customer relationships,” said Sean Sullivan, representative of the Antares Bain Capital Financing Solution. “We are pleased to support Tailwind Capital and Ventiv Technology as they continue to fuel Ventiv’s impressive growth trajectory.”

ABCS provides private equity sponsors and borrowers with access to first lien unitranche loans of up to $350 million in a single transaction. Without the requirement of agency meetings or a syndication process, the Antares and Bain Capital unitranche offering delivers capital with speed and certainty.

About Antares

With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP., collectively (“Antares”).

About Bain Capital Credit

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.

Contacts

Antares Capital
Carol Ann Wharton
475-266-8053
carolann.wharton@antares.com

Bain Capital Credit
Charlyn Lusk
Stanton
646-502-3549
clusk@stantonprm.com

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Anna Ljungdahl joins Industrifonden

Industriefonden

We’re pleased to welcome Anna Ljungdahl as Investment Manager. Anna will focus to drive Industrifonden’s deepening knowledge,- and potential investments in fintech, and evaluate and participate in investment opportunities created by technological innovation that contribute to build a sustainable society.

Anna brings extensive financial services experience following two decades of venture capital and finance experience at leading positions at SEB.

“With Anna’s extensive and long experience, we can now immerse ourselves in fintech, but also in other sectors where technology, societal impact and sustainability meet. I am excited to see what we can achieve next,” says David Sonnek, CEO of Industrifonden.

Read more about Anna here:

>Di Digital: Storbankschefen byter sida- ska investera i fintechbolag

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Fortino Capital Partners and LRM invest in FoodDESK, a Belgian data and software provider for allergen management and food safety

Fortino Capital

Antwerpen – Fortino Capital Partners and LRM invest in FoodDESK, a data and software company focused on allergen and food safety management. This new funding round will help the company to support growth in Belgium and generate international traction.

FoodDESK, founded in 2015, helps hospitals, nursery homes, restaurants, butchers and bakeries comply with food regulations (notably allergens, HACCP). FoodDESK helps its customers to digitalize these mandatory processes, while giving them access to its unique, and proprietary enriched food and allergen database, which is the cornerstone of its value proposition to help its customers providing safe and healthy food to their end-consumers.

Strict food regulation and increased demand for more transparency drive the need for solutions like FoodDESK to manage allergen and food safety, as the amount of people with food allergies are soaring. Not providing the right information can have dramatic consequences to those end consumers. Many companies still use inefficient methods such as Excel and papers to manage their food safety processes. The solution of FoodDESK allows customers to comply and become more efficient in managing food safety, while also providing them with access to a unique, comprehensive and enriched food-, nutrients- and allergen database. While there are several food databases available in the market, FoodDESK’s unique approach, with its team of dieticians combined with artificial intelligence, provides access to an enriched and always up-to-date food database, where mistakes in technical input files from food suppliers are corrected and missing information is completed.

Today, FoodDESK is active in Belgium and the Netherlands, already deploying its solution in more than 750 organizations, such as AZ Sint Jan, Imelda Ziekenhuis, UZ Leuven (?), LSG Sky Chefs, ISS Catering Services. With the support of Fortino Capital and LRM, FoodDESK will focus on building out its position in Benelux, while also setting its first steps elsewhere in Europe.

Tammo Van Leeuwen from FoodDESK concludes: “If you know that up to 5-10% of the population is affected by a food allergy, allergen management and food safety is a challenge for many organisations. We provide our customers with the appropriate tools and to manage food safety in their organizations in the best way possible. With the support of Fortino and LRM, we will be able to grow in our core markets and start internationalization beyond Benelux”

Renaat Berckmoes at Fortino Capital, explains: “FoodDESK is solving a problem in a unique way for many stakeholders in food sector, making a tedious process more efficient, while helping to enhance food safety. We look forward working together with FoodDESK and LRM to expand to grow the company into a market leader in Western-Europe”

Kathleen Vandersmissen / Dries Evens at LRM, seconds “Last year, LRM already assisted FoodDESK financially through a loan. Now we also make capital available: “The combination of the food and allergen database and the innovative tools that FoodDESK’s customers have access to, provides all the health and food industry stakeholders with a wealth of information that is crucial,” said Katleen Vandersmissen, Head of Health & Care at LRM. “The regulations are becoming stricter and the customer or patient is demanding more and more transparency and clarity. We therefore see a lot of potential for FoodDESK in Belgium and abroad in this growing market.”

About FoodDESK: 

FoodDESK is a data and software company founded in 2015 by Carl Beniest and Lambaerts Sel. FoodDESK provides data and software to comply with food regulation and they ensure end-consumer has all relevant allergen information at hand. FoodDESK has more than 750 customers located in Belgium and in The Netherlands. For more information: www.FoodDESK.be

About Fortino Capital Partners:

Fortino Capital Partners is an investment company that was founded in 2013 and is led by Duco Sickinghe, Renaat Berckmoes and Matthias Vandepitte. Fortino Capital invests in remarkable companies of today and tomorrow and actively helps companies capture opportunities. They accelerate businesses and turn ambition into growth. The company manages a venture capital fund of EUR 80 million and a digital growth fund of EUR 200 million, both with focus on software and digital transformation. Fortino Capital’s investment portfolio includes MobileXpense, Maxxton, Dobco Medical Systems, LetsBuild, Teamleader, and Bloomon among others. For more information, visit www.fortinocapital.com.

About LRM:

LRM is an investment company based in Hasselt that develops and stimulates economic growth in Limburg. They provide a solid foundation, allowing companies and projects, which create jobs in Limburg, to grow. LRM is investing in varied companies from startups to growing SME’s and larger companies. The company is mainly focused on ICT, technology, Health & Care, Smart Manufacturing and Sustainability. LRM has currently 268 companies in its portfolio. For more information: www.lrm.be

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